Registering to bid in an online only auction: (a) In order to bid in an online only auction, you must have set up a verified account (in accordance with the procedures set out at 10(b) and 10(c) below). Sotheby’s therefore provides certain services, including, but not limited to, the process of concluding the sale contract between the seller and the buyer. In such case, you waive any claim which you may have to title to the lot and agree that any re-sale price shall be deemed commercially reasonable; (f)             set off any amounts owed by us or any ‘Sotheby’s affiliated company’ to you against any amounts which you owe to us or any ‘Sotheby’s affiliated company’, whether as the result of any proceeds of sale or otherwise; (g)             exercise a lien over any of your property which is in our possession or in possession of any ‘Sotheby’s affiliated company’ for any reason until payment of all outstanding amounts due to us has been made in full. Your updated bid is submitted by pressing ‘Continue to Confirm Bid’. 36. 12 May 2019 | 10:30 AM CEST | Geneva. Sotheby’s shall not process the reimbursement unless and until the lot is returned to Sotheby’s or you have supplied Sotheby’s with evidence of having returned the lot to us. Sotheby’s is thrilled to announce its forthcoming London Watches auction in April. Terms and conditions regarding payment of the buyer’s invoice are set out below. Once you have completed the registration process to become a verified accountholder, you can sign into the applicable online only auction using your own username and password. If the successful bidder has purchased a lot for delivery outside of Switzerland, you acknowledge and agree that it is your responsibility to ascertain and pay all international duties, custom charges, taxes, charges and tariffs owed to the appropriate government entity or that otherwise need to be paid prior to shipment and/or delivery including any third party charges necessary to facilitate shipment. The timing and the content of any announcement regarding the withdrawal shall be in Sotheby’s sole discretion. Lots with this symbol may, in our opinion, require special handling or shipping services due to size or other physical considerations. Sotheby’s therefore provides certain services, including, but not limited to, the process of concluding the sale contract between the seller and the buyer. However, for ease of reference, we have divided the Conditions set out below into sections. ANY EXPRESS OR IMPLIED CONDITIONS OR WARRANTIES ARE EXCLUDED SAVE INSOFAR AS IT IS NOT POSSIBLE TO EXCLUDE OBLIGATIONS IMPLIED BY STATUTE. I/We* hereby give notice that I/We* cancel my/our sale of the following goods [*]/for the provision of the following services [*], Signature of online consumer(s) [only if the notification is in hard copy], C.             CONDITIONS MAINLY CONCERNING SELLERS. • It is Sotheby’s policy to request any new clients or new buyers preferring to make Swiss Franc (CHF) cash payment to provide: proof of identity (by providing some form of government issued identification containing a photograph, such as a passport, identity card or driver’s licence) and confirmation of permanent address. CATALOGUES. Cancellation of the purchase of a lot in an online only auction: (a) If the buyer is an online consumer and the seller is an online trader, the buyer shall have the right to cancel the sale contract which exists directly between the online trader (as seller) and the online consumer (as buyer) during the online sale cancellation period for any reason provided that (i) the online consumer duly informs Sotheby’s during the online cancellation period of their intention to cancel the purchase of the lot; and (ii) the online consumer returns the lot to Sotheby’s without undue delay and in any event not later than fourteen (14) calendar days from the day after the online consumer has communicated their intention to cancel the purchase of the lot to Sotheby’s. Operation of the online only platform: (a) Sotheby’s offers the online only platform as a convenience to its clients and the online only platform shall be operated by Sotheby’s using reasonable care. All wristwatches are sold as viewed and cannot be returned on the grounds that repairs have been carried out or parts supplied by anyone other than the named makers. the buyer) will receive by email an invoice from Sotheby’s as soon as reasonably practicable after the final lot in the relevant online only auction closes. The Elkhart Collection auction was also another case study for the power of ‘no reserve’ collection auctions, with many of the lots seeing incredible results. In particular, the online images may represent colours and shades which are different to the lot’s actual colour and shades. We reserve the right to charge you our reasonable legal and administrative costs incurred. (b)             To exercise the right to cancel the sale contract in relation to a lot, the online consumer must inform Sotheby’s of their decision to cancel the sale contract by a clear statement (e.g. Any payment which ‘Sotheby's’ makes under this Condition shall be binding upon the ‘seller’ whether or not legal liability has been proved; (iii) notify the ‘seller's’ insurer of the terms of the indemnity set out in (ii) above; and (iv) waive all rights and claims which the ‘seller’ may have against ‘Sotheby's’ in connection with such loss or damage, other than in circumstances where the loss or damage was caused by ‘Sotheby's’ wilful misconduct. The online sale information will identify the seller of the lot as an online consumer (and therefore, by inference, not an online trader) for the purposes of consumer protection in certain jurisdictions. 6. We shall notify you in writing if we decide to do this and, unless you object in writing within ten (10) days of such notice, you shall be treated as consenting to such reconsignment. (II)             THE AGREEMENT CONTAINED IN CONDITION 38(I) ABOVE IS INCLUDED FOR THE BENEFIT OF ‘SOTHEBY’S’. 4 talking about this. Any notice which we send to you may be sent to your last address known to us. Errors may occur in the currency converter and you should not rely on it as a substitute for the Swiss francs bidding. Certain online images of the lot may not accurately reflect the actual condition of the lot. If such lot has not been sold privately pursuant to Condition 35 above, you shall either reconsign the lot to us for re-sale or, alternatively, collect the lot from us. This is the highest result ever for our watch sales in this location”. (iv)     any expenses and other applicable duties or taxes. Apparently so—bidders from 32 countries clamored for pieces from heritage jewelry houses, like Tiffany and Verdura, at Sotheby's online auction this week. That’s not a sum to be sneezing at for 310 lots sold, with a sell-through rate of 84.2 percent. GUIDE TO BUYING IN AN ONLINE ONLY AUCTION. To use the calculator you will need three pieces of information: the lot number; the country to which the item will be shipped; and your anticipated bid (the hammer price). The room was enthusiastic and highly animated throughout the sale, with many results commanding applause and standing ovations from the audience. ‘Sotheby's’ shall not be bound by any reports produced by the ‘buyer’, and reserves the right to seek additional expert advice at its own expense. 48. In order to be eligible to participate in an online only auction, you must have registered, and maintain, a verified account. The ‘seller’s commission’ shall in these circumstances be calculated as if the lot had sold at the reserve price. (c) The buyer of a lot is solely responsible for the payment of any VAT (including, but not limited to, any import VAT), sales tax or value added sales tax, sales or compensating use tax or any other similar tax payable as a result of the sale of a lot. 46. It is the buyer’s responsibility to obtain any export or import licences and/or certificates as well as any other required documentation (please refer to Condition 13 of the Conditions of Business. We have achieved outstanding auction results across all major makers including military Rolexes and complicated Patek Philippes as well as independent watchmakers such as George Daniels and Kari Voutilainen. 31. (ii)             re-offer the lot for sale at public auction with a reserve no less than fifty per cent (50%) of the original reserve. (i) If a bidder makes a bid during an online only auction, such bidder does so as principal and will be held personally and solely liable for that bid unless Sotheby’s has previously agreed with such bidder in writing that the bidder does so on behalf of an identified third party who is acceptable to Sotheby’s. Sotheby's has absolute discretion to refuse an application to register for, or bid in, an online only auction. This deadline is met if you send back the lot before the period of fourteen (14) calendar days has expired. 2523 world time for HK$22.3m, or US$2.85m, has now passed to its crosstown rival Sotheby’s. Please note that we reserve the right to decline payments received from anyone other than the buyer of record and that clearance of such payments will be required. Although condition reports may be given on request, such reports are statements of opinion only and may not specify all mechanical replacements or imperfections in the movement, case and dial. Please be advised that the purchaser will be responsible for complying with any applicable export and import matters, particularly in relation to endangered species and the United States Department of Fish and Wildlife Services. And while Sotheby’s only ever refers to the late owner of this collection as “the collector” due to client confidentiality, SJX revealed him to have been German billionaire Erivan Haub, heir to and … Sotheby’s capacity: ‘Sotheby’s’ sells as agent for the ‘seller’ except where it wholly or partly owns any lot as principal. If we or the ‘buyer’ consider any of the warranties listed below to be breached in any way, either we or the ‘buyer’ may take legal action against you. Traditionally, gemstones have been treated by a variety of techniques to enhance color and generally to improve their appearance. Payment of net sale proceeds to the ‘seller’: (a) A sale contract is made directly between the buyer and the seller. 28. The denial of any permit or licence shall not justify cancellation or rescission of the sale contract or any delay in payment. 19. Information regarding shipping and delivery. 43. We encourage you to monitor the bids on lots throughout the duration of the online only auction to ensure your status as the highest bidder up until the close of the online only auction. Reconsignment: We may, at our discretion, decide to reconsign any lot so that it shall be offered for sale at public auction by another ‘Sotheby’s affiliated company’. It is also important that you read the Conditions of Business which are set out below and which will govern your and the seller’s rights and obligations in connection with the online only auction (the “Conditions of Business”). alligator and crocodile) are not sold with the watches and are for display purposes only. Hong Kong, Admiralty. Please note that the pre-sale estimates which are stated in the online sale information do not include any applicable buyer’s premium, overhead premium or any applicable VAT (or any amount in lieu of VAT). Our presale estimates reflect this assumption. The denial of any licence required or delay in obtaining such licence cannot justify the cancellation of the sale or any delay in making payment of the total amount due. (e) In the event that you submit a bid for an amount at which a bid has already been accepted, your bid shall be rejected. Once the relevant online only auction has opened, the online sale information regarding each lot for sale in the online only auction is available for you to review. Menu Skip to content. 3. Sotheby’s is dependent on the seller for much of the relevant factual material pertaining to items offered for sale. Please be advised that straps made of material derived from endangered or otherwise protected species (i.e. Follow us on Instagram at @SothebysJewels for auction highlights, impressive results and special events around the world. Prospective buyers are reminded that, unless the catalogue description specifically states that a stone is natural, we have assumed that some form of treatment may have been used and that such treatment may not be permanent. Enter your maximum bid (being the highest price you are willing to pay on the lot). A reserve is the confidential hammer price established between Sotheby’s and the seller and below which a lot will not be sold. November 2006. 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