Chinese Works of Art, Sales No. 150515

TERMS AND CONDITIONS OF SALE The terms and conditions of auction purchases ("Sale") are outlined here and are applicable to any and all sales made through China Arts Auction("Auctioneer"). This includes sales completed in person, online, or absentee/phone bid. All sales will be completed at the discretion of the Auctioneer and the Auctioneer reserves the right to cancel any sales and deny future transactions with any customer ("Buyer") if these terms are not met. All merchandise brought to sale by Auctioneer has been consigned by independent owners ("Consignor"). BEFORE THE AUCTION SALE All buyers are strongly advised to inspect all items before auction as all items are sold AS IS, WHERE IS. Although Auctioneer makes every effort to express accurate descriptions and commentary given to Buyers online, in Auctioneer's catalogue, marketing material or verbal interactions, Auctioneer makes no guarantee or warranty of any kind with respect to the physical condition, size, quality, rarity, medium and materials, age, authenticity, provenance, culture, source, or historic significance of any goods. Employees, consigners, or any other representative of China Arts are not authorized to provide written or verbal guarantees. Buyers must depend on their own review of the merchandise. All merchandise is sold AS IS, WHERE IS, regardless of condition, or additional review of merchandise gained after the sale. ALL SALES ARE FINAL. Absentee and Phone bids are accepted at the Auctioneer's discretion. Buyers registering for phone or absentee bids must do so before 6 p.m. the day prior to the auction. All phone or absentee bids must be submitted in writing a signed agreement of the terms by Buyer via fax, email, or online submission to Auctioneer to be accepted. Auctioneer will not be held responsible if unable to reach buyers wishing to bid by phone. Auctioneer shall not be held responsible or liable for absentee or phone bids that are missed or otherwise not executed. Cancellation of any phone or absentee bids must be submitted in writing and executed at least twenty-four (24) hours prior to the start of the auction. Submission in writing via fax (626) 457-8811, or email to chinaartsinc@gmail.com will be the only guarantee methods of cancellation acceptance. Online Bids are accepted at the Auctioneer's discretion through www.LiveAuctioneers.com. All buyers who register to bid online via www.Liveauctioneers.com, are also subject to approval by Auctioneers before registration is approved and must submit a signed agreement of the terms. Only those who submit for registration (24) hours prior to auction date will be guaranteed consideration for registration. All those submitting less than 24 hours before the start of an auction are only approved based on the discretion of the Auctioneer. Bidder Approval Forms required to be completed for online bidding consideration can be found on Auctioneer's website. The Buyer is responsible for all bids made on their Liveauctioneers.com account. All bids received via Liveauctioneers.com will be final. Auctioneer and its employees shall not be held liable for any damages or injury to person or property sustained as a result from handling merchandise including, but not limited to lifting, moving, loading, or packaging of merchandise before or after the sale. Buyer is responsible for the packing, loading and removal of all merchandise. DURING THE AUCTION SALE The auctioneer is acting as agent only to the sale of merchandise and is not responsible for any actions of Consignors. This auction is being conducted in pursuant to section 2328 of the commercial code, 535 of the penalty code and all provisions of the auction license act. In accordance to the California state law, all items are subject to a confidential reserve unless otherwise stated. Auctioneer reserves the right to withdraw any lots from the sale and to deny Buyer's participation during a sale for any reason. Auctioneer reserves the right to reject any bid or bar any person from the Auctioneer's premises. Upon the occurrence of a dispute during or after a sale, Auctioneer's decision will be final. All information regarding merchandise is subject to clarification, changes or disclaimer at the time the item is being auctioned and will be sold based on Auctioneer's verbal or written information at time of the Sale. All bids via phone, fax, email, or in person are final and binding regardless of Buyer's input errors. Auctioneer also does not accept liability for technology, website or internet failure, or unforeseen circumstances that may influence the execution of bids. AFTER AUCTION SALE PAYMENT Full payment includes hammer price, buyer's premium and all applicable taxes. All sales are final regardless of method of bidding or payment options. Auctioneer does not accept PayPal or credit card payments provided over the phone, email, or fax. Auctioneer may, at their discretion, hold merchandise until check or wired funds clear bank account. If payment is not received within ten (10) business days of the sale, Auctioneer reserves the right to cancel sale and resell merchandise at a public or private sale. Failure to provide payment will result in revoking the Buyer's right to participate in future sales with Auctioneer. 1. Payment options and terms for each type of auction participation is outline below. Floor Bids: All purchases are subject to a 18% buyer's premium. Full payment must be made the day of the sale. Accepted methods of payment are cash, approved check, or Visa/MasterCard. Checks must be drawn on a U.S. bank. At Auctioneer's discretion, a money order, cashier's check or bank wire may be required. Failure to provide payment will result in revoking the Buyer's right to participate in future sales with Auctioneer. 2. Absentee and Phone: All purchases are subject to a 18% buyer's premium. Full payment must be made within ten (10) business days of sale. Payment terms are check, money order, cashier's check or bank wire transfer. Auctioneer does not accept Visa/MasterCard over phone. At Auctioneer's discretion, a money order, cashier's check or bank wire may be required. Failure to provide payment will result in revoking the Buyer's right to participate in future sales with Auctioneer. 3. Online Bids: All purchases are subject to a 21% Buyers Premium. Full payment must be made within ten(10) business days of sale. Payment terms are check, money order, cashier's check or bank wire transfer. All successful online Buyers will receive an emailed invoice within (48) hours of the end of a sale. If the Buyer does not receive notification within (48) hours, Buyer remains responsible for all items purchased and retains the responsibility of providing payment. If Buyer fails to provide cleared funds within ten (10) business days of the sale, they will receive a negative feedback report associated with their LiveAuctioneers.com profile and will not be permitted to registration for future sales. 4. International Payment: Any Buyer submitting payment from outside the U.S. (regardless of method of bidding) must be done by bank wire transfer. A bank transfer is only considered complete after Auctioneer has received the FULL amount due according to the Buyer's invoice. While issuing a wire transfer, all fees, exchange rates and other administrative fees are the responsibility of the buyer and are in addition to the total amount due to Auctioneer. All sales and money transfers are conducted in USD currency. No foreign checks will be accepted. Auctioneer does not accept PayPal or credit card payments provided over the phone, email, or fax. Auctioneer may, at their discretion, hold merchandise until payment has been cleared. 5. Taxes: State and local taxes (9.00%) will be applied to all merchandise collected in person at Auctioneer's location, 818 W. Las Tunas Drive, San Gabriel, CA 91776. Buyer will be exempt from taxes if Buyer presents to Auctioneer a current resale license number or if merchandise is shipped directly out of California using a common carrier. STORAGE Immediate removal of purchased merchandise is requested when payment is received, and shall be done at the expense, liability and risk of the Buyer. All arrangements for removal will be at the convenience of Auctioneer. Failure to remove merchandise immediately after completion of payment within the (5) business days following sale completion will be subject to storage fees of $(10.00) per day per item. After (30) days items will be considered abandoned. Auctioneer will apply any deposit to loss, damages, and expense incurred in the resale of merchandise not paid for in full or removed in the time specified and shall retain any balance as liquidated damages. SHIPPING China Arts Auction does NO shipping or packing. It is the buyer's responsibility to arrange shipping for purchased items. Buyers are responsible for shipment of merchandise including all packing, and customs fees. Auctioneer can provide a list of recommended independent shippers upon request, but does not accept responsibility of any agreements reached between Buyer and shippers, or any resulting loss, damage or delay resulting in the use of the shipper. If Buyer is required to arrange for their own shipment of merchandise, any and all liability of the Auctioneer is relinquished regardless of time item was paid for in full or how and/or when it was shipped or if merchandise has yet been received by Buyer. Once you have made shipping arrangements, you must submit a release form authorizing us to release your purchases to the shipper of your choice; your merchandise will NOT be released without this authorization. SALE of SPECIFIC and/or RESTRICTED GOODS No Guarantee of Authenticity for ALL Jewelry and Jade: Due to the fact that jade can be bleached and dyed among other techniques, China Arts Auction CANNOT GUARANTEE the authenticity of the COLOR, AGE, or QUALITY of any jade items sold. All Jewelry and Jade will be sold AS-IS, without any warranties. All sales are final in Jewelry and Jade purchases, NO RETURNS will be accepted. Judgment of such qualities is the sole discretion of the Buyer. No Guarantee of Authenticity for Paintings: China Arts Auction CANNOT GUARANTEE any aspect of the Paintings sold including authenticity, origin, age, quality, medium or provenance. Endangered Species and CITES Permits: China Arts Auction adheres to the California and Federal laws pertaining to the sale of items containing endangered or protected species, and WILL NOT ACCEPT LIABILITY of items that may include any material such as ivory, rhinoceros horn, tortoise shell, coral, endangered woods, and whalebone. In the event an item is found to contain any amount of these products, it is the SOLE RESPONSIBILITY OF THE BUYER to perform their due diligence and acknowledge any laws and regulations that apply to purchasing, importation and exportation laws. Bidders' Discretion is advised.

No warranty all items AS IS AND WHERE IS. China Arts Auction, its agents and employees, and the consignors do not warrant any lot to be merchantable or to be suited for any purchase and they do not assume any risk, liability or responsibility for any persons as to authenticity, genuineness, culture, source, origin, attribution, period, purpose or measurements of any lot. Any condition statement is given as a courtesy to a client, is only an opinion and should not be treated as a statement of fact. China Arts Auction shall have no responsibility for any error or omission. The absence of a condition statement does not imply that the lot is in perfect condition or completely free from wear and tear, imperfections or the effects of aging.