Paddles
Paddles are the only certificate for bidders to participate in the live auction events. Bidders must keep the paddles carefully. Once lost, bidders should immediately proceed to the loss reporting procedures in the written form regulated by TA. Treasure Art Ltd.. All the bidding actions would be considered as the behaviors made by the paddles’ registrants. Unless all the loss reporting procedures are completed before the auction date, bidders must take the legal responsibilities for the paddles holders.Bidders Security Deposits
Bidders who participate in TA. Treasure Art Ltd.’s auction events should submit payment for security deposits before obtaining paddles. The amount of security deposits would be announced by TA. Treasure Art Ltd. before the auction date. If bidders are not able to purchase any bidding lot, the security deposits will be returned to the bidders in ten working days without interests. If bidders turn to buyers, the security deposits will automatically transit as an initial payment to pay for the closing price of the lotCataloguing
In the auction events held by TA. Treasure Art Ltd., for the convenience of the bidders and consignors to attend the auctions, TA. Treasure Art Ltd. would publish cataloguing for lots which are briefly described with words and photos for their conditions. Words, estimates, photos, and other forms of videos and propagandas which can be revised before auctions are only for the reference and information for bidders. TA. Treasure Art Ltd. does not take any responsibilities for the actuality, value, color, texture and deficiency of the lots. In case of discrepancy between the cataloguing and the real lot, the real lot shall prevail. TA. Treasure Art Ltd. and its staff or agents do not guarantee for bidding lots regardless of introduction and comments through the form of certificate, cataloguing, condition description, projection, news piece, Internet media, etc. The quotes for the instruction of the bidding lots from publications are only for the reference of the bidders. TA. Treasure Art Ltd. would not offer the original copies of the publication and reserve the rights to revise or amend the description. TA. Treasure Art Ltd. and its staff or agents shall not be in charge of any omissions or mistakes in the description of the introduction and comments.Review Responsibility of the Bidders
TA. Treasure Art Ltd. specifically announces that it shall neither take any obligations for the authenticity or quality of the bidding lots nor the deficiency of the lots. TA. Treasure Art Ltd. solemnly suggests bidders should review the originals of the bidding lots in person before the auction date and judge the authenticity and quality of the bidding lots by themselves as well as bear the legal responsibility for their own behaviors.Absentee Bid
Bidders shall be presence at the auction events. If not, bidders can entrust TA. Treasure Art Ltd. for bidding in the written form. TA. Treasure Art Ltd. has the rights to determine in receiving above trust. Those who would like to entrust TA. Treasure Art Ltd. to bid shall submit their entrusting procedures forty-eight hours prior to the auctions and present the entrusting bidding authorization to TA. Treasure Art Ltd. in written form. Bidders who entrust TA. Treasure Art Ltd. to bid must take all the consequences and related legal responsibilities for the bidding results. If bidders would like to cancel their trust to TA. Treasure Art Ltd., they shall notify TA. Treasure Art Ltd. twenty-four hours prior to the auctions in written form. Due to complimentary service offered by TA. Treasure Art Ltd. to deliver bidding information to the bidders, TA. Treasure Art Ltd. and its staff do not bear any responsibilities for any negligence, fault or inabilities to bid during the auction.Image Display and Money Exchange Display
For the convenience of the bidders, TA. Treasure Art Ltd. may use image projectors or other forms of displays during the auction. The content of the displays are only for reference. There may be errors on the displays for showing amounts, bidding numbers, auction photos or foreign exchange rates. TA. Treasure Art Ltd. would not be in charge of any errors resulting in any losses.Decision of the Auctioneers
Auctioneers have the right to represent TA. Treasure Art Ltd. to raise or lower the bidding brackets, to refuse any bidding, and reopen the bid if any controversy happens.Abnormal Situation Handling
When abnormal situation happens which may cause influence during auctions, TA. Treasure Art Ltd. has the rights to make proper responses in accordance with the actual situation until the suspension of the auctions. If there is any controversy happening at the site of auctions, TA. Treasure Art Ltd. shall reserve the rights to negotiation and mediate.Rights for Refusal
TA. Treasure Art Ltd. shall possess all the rights to refuse anyone to participate at TA. Treasure Art Ltd.’s auction events or enter the auction sites. In addition, TA. Treasure Art Ltd. can deny all activities such as photography, tape recording, and video recording.Service Fees and Payment for Closing Price
Buyers shall pay TA. Treasure Art Ltd. for service fees for twenty percent of the closing price. The payment which buyers shall pay includes closing price and service fees. If there is any taxation and other charges owing to the purchase, buyers should declare and bear the charges. After the deal is completed, buyers shall fulfill the payment to TA. Treasure Art Ltd. for closing price in New Taiwan Dollars within twenty days after the auctions. If buyers choose to pay in currencies other than New Taiwan Dollars and wire the amount to the designated account of TA. Treasure Art Ltd.’s foreign currency accounts, TA. Treasure Art Ltd. will adopt the exchange rate to New Taiwan Dollars on the auction date to pay for the closing price. The differences caused by the exchange rate changes from foreign currencies to New Taiwan Dollars must be undertaken by the buyers.Ownership Transferring and Claim Bidding Lots
After buyers complete payment for closing price, they can obtain the ownership of the lot. Buyers shall claim bidding lots at the designated venue by TA. Treasure Art Ltd. among thirty days after the auctions. All the overdue costs on preservation, transporting, and insurance fees must be taken by buyers. Buyers also need to take full responsibilities for the lots. TA. Treasure Art Ltd. does not share any obligations for any losses, diminishes, and damages of the lots.Packing and Transporting
If buyers request TA. Treasure Art Ltd. and its staff for packing and handling the bidding lots, it will be considered as service offered by TA. Treasure Art Ltd. to buyers. TA. Treasure Art Ltd. can decide whether to provide this service or not. If any losses happen, buyers must bear the consequences. In addition, if any errors, omissions, and losses happen due to packing and transporting services recommended by TA. Treasure Art Ltd. to buyers, TA. Treasure Art Ltd. does not take any responsibilities. All the costs for shipping, transporting insurance fees, exit declaration, and appraisal charges must be paid by buyers.Undischarged Payment
Buyers who do not fulfill payment for closing price thirty days after the auctions are considered as breach of contract. Besides confiscating security deposits and paid amount, TA. Treasure Art Ltd. can hold other bidding lots or payments in custody from the same buyers. Twenty days after the extension notification given by TA. Treasure Art Ltd. to buyers, if buyers cannot complete payments within the deadline, TA. Treasure Art Ltd. can remain the rights to dissolve this deal and cope with the lots at its will.Promises of Consignors
Consignors and its entrusting bidding lots irrevocably promise TA. Treasure Art Ltd. and buyers as following:Agents of the Consignors
If Consignors allows agents to entrust TA. Treasure Art Ltd. to auction its lots, consignors shall present entrusting documents to TA. Treasure Art Ltd. and offer consignors’ and agents’ legal identification to sign an auction contract with TA. Treasure Art Ltd.. TA. Treasure Art Ltd. has the rights to go through appropriate check-up for the above entrusting matters.Reserve Price
Reserve price is the lowest selling price for the bidding lots offered by the consignors to TA. Treasure Art Ltd. and signed in the auction contract. If the reserve price does not appear in the written form, it will mean no reserve price. Under any circumstance, TA. Treasure Art Ltd. will not take any responsibilities if a certain bidding lot does not reach the reserve price and cause no deal during TA. Treasure Art Ltd. auctions.Copyright
Consignors authorize TA. Treasure Art Ltd. to photograph, picture-making, picture recording and other forms of video-recording and promotion. Thus, TA. Treasure Art Ltd.has the copyrights and can access to these under the legal condition. Article XXV Termination of Bidding If any of the following condition happens, TA. Treasure Art Ltd. has the rights to terminate the auction for the bidding lots before the auction date.Insurance Arrangement by the Consignors
If consignors inform TA. Treasure Art Ltd. not to insure for their bidding lots in written form, the risks shall be taken by consignors. Consignors shall bear following responsibilities:Deliver Amount of Closing Price
TA. Treasure Art Ltd. will comply with the regulations of the entrusting contract to pay consignors in New Taiwan Dollars within thirty days after receiving buyers’ full payment. The final amount paid to the consignors will be deducted from service fees, insurance fees, cataloguing fees, other regulatory fees and taxation in accordance with the closing price.Deal Withdrawal
If buyers cannot fulfill payment of the closing price sixty business days after the auction, consignors can issue a notification in written form to withdraw the deal. If TA. Treasure Art Ltd. confirms not to be able to receive full payment from buyers, TA. Treasure Art Ltd. will have the right to cancel this deal and notify the consignors to get the lots back or to negotiate with TA. Treasure Art Ltd. for future bids.Obtaining Bidding Lots
If the bidding lots does not call for bidding, consignors withdraws bidding lots, bidding lots cannot fulfill or the deal is cancelled by TA. Treasure Art Ltd. or consignors, consignors should come to the designated venue to pick up bidding lots by themselves thirty days after receiving TA. Treasure Art Ltd.’s notification. All packing and transporting costs and expenses are at consignors’ costs. Consignors also need to pay for unsuccessful deal’s service fees to TA. Treasure Art Ltd. and other fees. If consignors do not get the bidding lots back within expiration date, the entrusting contract between TA. Treasure Art Ltd. and consignors will be terminated on the expiration date. After the expiration date, all the risks and expenses will be at consignors’ costs. Sixty days after the expiration date without claimant, TA. Treasure Art Ltd. has the right to auction the lots publicly or sell the lots in an appropriate way which TA. Treasure Art Ltd. recognizes. After the deduction of all losses and costs (preservation fees, insurance fees, transporting fees, and notarial fees), if there is any remaining amount, consignors can claim it back without any interests. If consignors request TA. Treasure Art Ltd. to assist to return their bidding lots, regardless of postponement or expiration, the risks and fees for returning will be at the consignors’ expenses. Unless consignors specifically request to pay for the insurance fees by themselves, TA. Treasure Art Ltd. will not insure for the lots for returning transporting.Regulations Amendment and Date of Implementation
TA. Treasure Art Ltd. reserves the rights to amend or revise the regulations and immediately applies the latest version of the revision of the regulations. If the regulations are amended, TA. Treasure Art Ltd. will announce them in time and in the proper manners considered by TA. Treasure Art Ltd.. All parties shall pay attention to this. TA. Treasure Art Ltd. has the rights not to inform all parties individually.