Strauss & co - 30 June 2014, Johannesburg

223 and satisfy themselves as to the conditionof each lot prior to theauction, and that the lotmatches anyoral orwritten descriptionprovidedby the seller and/or Strauss&Co. All illustrationsof a lot inany catalogueare intendedmerely asguidance for bidders anddonot providedefinitive informationas to colours, patternsor damage toany lot.   2.2.2Strauss&Co shall not be liable for anyerror,misstatement or omission in thedescriptionof a lot (whether inany catalogueor otherwise), unless Strauss&Co, its employees or agents, engaged in intentionalmisleadingor deceptive conduct.   2.2.3 Inbidding for any lot, all bidders confirm that they havenot been induced tomakeanybidor offer byany representationof the seller or Strauss&Co. 2.3Exclusionsand limitationsof liability tobuyers   2.3.1 If a lot sold toabuyer proves tobea forgery (whichwill onlybe the case if anexpert appointedbyStrauss&Co for suchpurpose confirms same inwriting), thebuyer may (ashis sole remedyhereunder or at law) return the lot toStrauss&Cowithin threehundredand sixty fivedaysof thedateof the saleof that lot in the same condition inwhich itwas as at thedateof sale, together withawritten statement by thebuyer detailing the defects to the lot, thedateof the saleand thenumber of the lot. ShouldStrauss&Cobe satisfied in its absolute discretion that the lot is a forgeryand that thebuyer is capableof transferringgoodandmarketable title to the lot toa thirdpartypurchaser thereof, free fromany encumbrances andother thirdparty claims, the saleof that lot shall be set asideand thepurchasepriceof that lot shall be refunded to thebuyer, provided that the buyer shall haveno rights against Strauss&Co (whether under thesegeneral conditionsof business, at lawor otherwise) if: 2.3.1.1 theonlymethodof establishing that the lotwas a forgery wasbymeansof a scientificprocessnot generally accepted for useuntil after publicationof the catalogue in which that lotwas identified for purposesof theauction atwhich itwas sold, or bymeansof aprocesswhichwas impracticableand/or unreasonablyexpensiveand/or couldhave causeddamage to the lot; 2.3.1.2 thedescriptionof the lot in the catalogue inwhich that lot was identified for purposesof theauctionatwhich itwas soldwas inaccordancewith the thengenerallyaccepted opinionof scholars andexpertsor fairly indicated that therewas conflict of suchopinion; 2.3.1.3abuyer’s claim (whether in contract, delict or otherwise) shall alwaysbe limited toanamount equal to the purchasepriceof the lot; 2.3.1.4 thebenefitsof this condition shall not be transferableby thebuyer of any lot toa thirdpartyand shall always rest exclusivelywith thebuyer.   2.3.2Neither Strauss&Conor the seller: 2.3.2.1 shall be liable for anyomissions, errorsor misrepresentations inany information (whetherwritten or otherwiseandwhether provided ina catalogueor otherwise) provided tobidders, or for anyactsomissions in connectionwith the conduct of anyauctionor for any matter relating to the saleof any lot, includingwhen causedby thenegligenceof the seller, Strauss&Co, their respectiveemployees and/or agents; 2.3.2.2gives anyguaranteeorwarranty tobiddersother than thoseexpressly set out in thesegeneral conditionsof business (if any) andany implied conditions, guarantees andwarranties areexcluded.   2.3.3Without prejudice toanyother provisionof thesegeneral conditionsof business, any claimagainst Strauss&Co and/or the seller of a lot byabidder shall be limited to the purchasepriceof the relevant lot. Neither Strauss&Conor the seller shall be liable for any indirect or consequential losses.   2.3.4Apurchased lot shall beat thebuyer’s risk inall respects from the fall of theauctioneer’shammer,whether or not payment hasbeenmade, andneither Strauss&Co nor the seller shall thereafter be liable for, and thebuyer indemnifies Strauss&Coagainst, any lossor damageof any kind, includingwhen causedby thenegligenceof Strauss&Coand/or its employeesor agents.   2.3.5All buyers areadvised toarrange for their own insurance cover for purchased lots effective from thedayafter the dateof sale for purposesof protecting their interests as Strauss&Co cannotwarrant that the seller has insured its interests in the lot or that Strauss&Co’s insurance cover will extend toall risks.   2.3.6Strauss&Codoesnot accept any responsibility for lots damagedby insect infestation, changes inatmospheric conditionsor other conditionsoutside its control, and shall not be liable for damage toglassor picture frames. 2.4 Import, exportandcopyright restrictions Saveas expressly set out in3.3, Strauss&Coand the sellermake no representationorwarranties as towhether any lot is subject toexport, import or copyright restrictions. It is thebuyer’s sole responsibility toobtainall approvals, licences, consents, permits and clearances thatmaybeor become requiredby law for the saleanddeliveryof any lot to thebuyer. 2.5Conductof theauction   2.5.1Theauctioneer has theabsolutediscretion towithdraw or re-offer lots for sale, toaccept and refusebids and/ or to re-open thebiddingonany lots shouldhebelieve theremaybeadisputeofwhatever nature (including without limitationadisputeabout thevalidityof anybid, orwhether abidhasbeenmade, andwhether between twoormorebiddersor between theauctioneer andany oneormorebidders) or error ofwhatever nature, and may further take suchother actionashe inhis absolute discretiondeemsnecessaryor appropriate. Theauctioneer shall commenceandadvance thebiddingor offers for any lot in such increments ashe considers appropriate.   2.5.2Theauctioneer shall beentitled toplacebidsonany lot on the seller’sbehalf up to the reserve,whereapplicable.   2.5.3The contract between thebuyer and the seller of any lot shall bedeemed tobe concludedon the strikingof the auctioneer’shammer at thehammer pricefinallyaccepted by theauctioneer (after determinationof anydispute that mayexist). Strauss&Co isnot aparty to the contract of saleand shall not be liable for anybreachof that contract byeither the seller or thebuyer. 2.6Paymentandcollection   2.6.1Abuyer’spremium, calculatedat theapplicable current rateof thehammer price, shall bepayableby thebuyer to Strauss&Co in respect of the saleof each lot. Thebuyer acknowledges that Strauss&Co,whenactingas agent for the seller of any lot,mayalso receivea seller’s commission and/or other fees for or in respect of that lot.   2.6.2Thebuyer shall payStrauss&Co thepurchaseprice immediatelyafter a lot is soldand shall provideStrauss &Cowithdetailsof hisnameandaddress and, if so requested, proof of identityandanyother information that Strauss&Comay require.  2.6.3Unlessotherwiseagreed inadvance, thebuyer shallmake full payment of all amountsdueby thebuyer toStrauss &Co (including thepurchasepriceof each lot bought by that buyer) on thedateof sale (or on suchother dateas Strauss&Coand thebuyermayagreeupon inwriting) in cash, electronic funds transfer, or suchother payment methodas Strauss&Comaybewilling toaccept. Any chequeand/or credit cardpaymentsmust bearranged withStrauss&Coprior to commencement of theauction. All credit cardpurchases are tobe settled in full on the dateof sale.   2.6.4Ownership ina lot shall not pass to thebuyer thereof until Strauss&Cohas received settlement of the full purchase priceof that lot in cleared funds. Strauss&Co shall not releasea lot to thebuyer prior to full payment thereof. However, shouldStrauss&Coagree to releasea lot to thebuyer prior topayment of thepurchaseprice in full, ownershipof such lot shall not pass to thebuyer, nor shall thebuyer’sobligations topay thepurchasepricebe impacted, until such receipt byStrauss&Coof the full purchaseprice in cleared funds.   2.6.5The refusal of anyapproval, licence, consent, permit or clearanceas requiredby law shall not affect thebuyer’s obligation topay for the lot.   2.6.6Anypaymentsmadebyabuyer toStrauss&Comaybe appliedbyStrauss&Co towards any sumsowingby thebuyer toStrauss&Coonanyaccountwhatsoever andwithout regard toanydirectionsof thebuyer or his agent. Thebuyer shall beand remain responsible for any removal, storage, or other charges for any lot andmust at hisownexpenseensure that the lot purchased is removed immediatelyafter theauctionbut not until payment of the total amount due toStrauss&Co. All riskof lossor damage to thepurchased lot shall beborneby thebuyer from the momentwhen thebuyer’sbid is acceptedbyStrauss& Co in themanner referred toabove. Neither Strauss&Co nor its servantsor agents shall accordinglybe responsible for any lossor damageof any kind,whether causedby negligenceor otherwise, fromdateof the saleof the lot, whilst the lot is in their possessionor control.   2.6.7All packagingandhandlingof lots is at thebuyer’s riskand expense,will have tobeattended toby thebuyer, and Strauss&Co shall not be liable for anyactsor omissionsof anypackersor shippers.   2.6.8 If the saleof any lot is rescinded, set asideor cancelledby anactionof thebuyer, andStrauss&Cohas accounted to the seller for the saleproceeds, the seller shall immediately refund the full saleproceeds toStrauss&Co,whowill in turn refund thepurchaseprice to thebuyer. 2.7 Remedies for non payment or failure to collect Without prejudice toany rights that the sellermayhave, if any lot isnot paid for in full or removed inaccordancewith the conditionsof 2.6above, or if there is anyother breachof these general conditionsof businessby thebuyer, Strauss&Coas agent of the seller shall, at its absolutediscretionandwithout limiting anyother rightsor remedies thatmaybeavailable to it or the seller hereunder or at law, beentitled toexerciseoneormoreof the following remedies:   2.7.1 to remove, storeand insure the lot at itspremisesor elsewhereandat thebuyer’s sole riskandexpense;   2.7.2 to rescind the saleof that or anyother lots sold to the