the Seller. The auctioneer may continue to bid on behalf of the seller up to the amount of the reserve, either by placing consecutive bids or by placing bids in response to other bidders. I) AUCTIONEER’S DISCRETION The Auctioneer has the right at his/her absolute and sole discretion to refuse any bid, to advance the bidding in such a manner as he/she may decide, to withdraw or divide any lot, to combine any two or more lots and, in the case of error or dispute and whether during or after the sale, to determine the successful bidder, to continue the bidding, to cancel the sale or to reoffer and resell the item in dispute. If any dispute arises after the sale, then Leski Auctions’ sale record is conclusive. J) SUCCESSFUL BID AND PASSING OF RISK Subject to the auctioneer’s discretion, the highest bidder accepted by the auctioneer will be the buyer and the striking of the hammer marks the acceptance of the highest bid and the conclusion of a contract for sale between the Seller and the Buyer. Risk and responsibility for the lot (including frames or glass where relevant) passes immediately to the Buyer. K) INDICATIVE BIDDING STEPS, ETC. Leski Auctions reserves the right to refuse any bid, withdraw any lot from sale, to place a reserve on any lot and to advance the bidding according to the following steps: Increment Amount Dollar Range $20 $0–$500 $50 $500–$1,000 $100 $1,000–$2,000 $200 $2,000–$5,000 $500 $5,000–$10,000 $1,000 $10,000–$20,000 $2,000 $20,000–$50,000 $5,000 $50,000–$100,000 $10,000 $100,000–$200,000 $20,000 $200,000–$500,000 $50,000 $500,000–$1,000,000 Absentee bids must follow these increments and any bids that don’t follow the steps will be rounded up to the nearest acceptable bid. 5. After the Sale A) BUYERS PREMIUM In addition to the hammer price, the buyer agrees to pay to Leski Auctions the buyers premium. The buyer’s premium is 19.5% of the hammer price plus GST. (Goods and Services Tax) where applicable. B) PAYMENT AND PASSING OF TITLE The buyer must pay the full amount due (comprising the hammer price, buyers premium and any applicable taxes and GST) not later than 5 days after the auction date. The buyer will not acquire title to the lot until Leski Auctions receives full payment in cleared funds, and no goods under any circumstances will be released without confirmation of cleared funds received. This applies even if the buyer wishes to send items interstate or overseas. Payment can be made by direct transfer, cash (not exceeding $10,000AUD, if wishing to pay more than $10,000AUD then this must be deposited directly into a Bank of Melbourne / St George branch and bank receipt supplied) and Eftpos (please check the daily limit). Payments can also be made by credit card in person with a 1% (inc GST) merchant fee for Visa and Mastercard and 1.75% (inc GST) for American Express. Personal cheques are accepted, but funds must be cleared before goods will be released. Bank cheques are subject to three days clearance. The buyer is responsible for any bank fees and charges applicable for the transfer of funds into Leski Auctions’ account C) COLLECTION OF PURCHASES & INSURANCE Leski Auctions is entitled to retain items sold until all amounts due to us have been received in full in good cleared funds. Subject to this, the Buyer shall collect purchased lots within 5 days from the date of the sale unless otherwise agreed in writing between Leski Auctions and the Buyer. At the fall of the hammer, insurance is the responsibility of the purchaser. D) PACKING, HANDLING AND SHIPPING Leski Auctions will be able to suggest removals companies that the buyer can use but takes no responsibility whatsoever for the actions of any recommended third party. Leski Auctions can pack and handle goods purchased at the auction by agreement and a charge will made for this service. All packing, shipping, insurance, postage & associated charges will be borne by the purchaser. E) CULTURAL HERITAGE EXPORT LICENCES Unless otherwise agreed by us in writing, the fact that the buyer wishes to apply for an export licence does not affect his or her obligation to make full payment immediately, nor our right to charge interest or storage charges on late payment. It is the Buyer’s responsibility to check Australia’s Protection of Moveable Cultural Heritage Act 1986 before purchase. If the Buyer requests Leski Auctions to apply for an export licence then we shall be entitled to charge a fee for this service. We shall not be obliged to rescind a sale nor to refund any interest or other expenses incurred by the Buyer where payment is made by the Buyer in circumstances where an export licence is not granted. F) REMEDIES FOR NON-PAYMENT If the Buyer fails to make full payment immediately, Leski Auctions is entitled to exercise one or more of the following rights or remedies (in addition to asserting any other rights or remedies available under the law) i) to charge interest at such a rate as we shall reasonably decide ii) to hold the defaulting Buyer liable for the total amount due and to commence legal proceedings for it’s recovery along with interest, legal fees and costs to the fullest extent permitted under applicable law iii) to cancel the sale iv) to resell the property publicly or privately on such terms as we see fit v) to pay the Seller an amount up to the net proceeds payable in respect of the amount bid by the defaulting Buyer. In these circumstances the defaulting Buyer can have no claim upon Leski Auctions in the event that the item(s) are sold for an amount greater than the original invoiced amount. vi) to set off against any amounts which Leski Auctions may owe the Buyer in any other transactions, the outstanding amount remaining unpaid by the Buyer. vii) where several amounts are owed by the Buyer to us, in respect of different transactions, to apply any amount paid to discharge any amount owed in respect of any particular transaction, whether or not the Buyer so directs. viii) to reject at any future auction any bids made by or on behalf of the Buyer or to obtain a deposit from the Buyer prior to accepting any bids. ix) to exercise all the rights and remedies of a person holding security over any property in our possession owned by the Buyer whether by way of pledge, security interest or in any other way, to the fullest extent permitted by the law of the place where such property is located. The Buyer will be deemed to have been granted such security to us and we may retain such property as collateral security for such Buyer’s obligations to us. x) to take such other action as Leski Auctions deem necessary or appropriate If we do sell the property under paragraph (iv), then the defaulting Buyer shall be liable for payment of any deficiency between the total amount originally due to us and the price obtained upon reselling as well as for all costs, expenses, damages, legal fees and commissions and premiums of whatever kinds associated with both sales or otherwise arising from the default. If we pay any amount to the Seller under paragraph (v) the Buyer acknowledges that Leski Auctions shall have all of the rights of the Seller, however arising, to pursue the Buyer for such amount. G) FAILURE TO COLLECT PURCHASES Where purchases are not collected within 5 days from the sale date, whether or not payment has been made, we shall be permitted to remove the property to a warehouse at the buyer’s expense, and only release the items after payment in full has been made of removal, storage handling, insurance and any other costs incurred, together with payment of all other amounts due to us. 6. Extent of Leski Auctions Liability Leski Auctions agrees to refund the purchase price in the circumstances of the Limited Warranty set out in paragraph 7 below. Apart from that, neither the Seller nor we, nor any of our employees or agents are responsible for the correctness of any statement of whatever kind concerning any lot, whether written or oral, nor for any other errors or omissions in description or for any faults or defects in any lots. Except as stated in paragraph 7 below, neither the Seller ourselves, our officers, agents or employees give any representation warranty or guarantee or assume any liability of any kind in respect of any lot with regard to merchantability, fitness for a particular purpose, description, size, quality, condition, attribution, authenticity, rarity, importance, medium, provenance, exhibition history, literature or historical relevance. Except as required by local law any warranty of any kind is excluded by this paragraph. 7. Limited Warranty Subject to the terms and conditions of this paragraph, the Seller warrants for the period of thirty days from the date of the sale that any property described in this catalogue (noting such description may be amended by any saleroom notice or announcement) which is stated without qualification to be the work of a named author, that authorship is authentic and not a forgery. The term “Author” or “authorship” refers to the creator of the property or to the period, culture, source, or origin as the case may be, with which the creation of such property is identified in the catalogue. The warranty is subject to the following: i) it does not apply where a) the catalogue description or saleroom notice corresponded to the generally accepted opinion of scholars and experts at the date of the sale or fairly indicated that there was a conflict of opinions, or b) correct identification of a lot can be demonstrated only by means of a scientific process not generally accepted for use until after publication of the catalogue or a process which at the date of the publication of the catalogue was unreasonably expensive or impractical or likely to have caused damage to the property. ii) the benefits of the warranty are not assignable and shall apply only to the original buyer of the lot as shown on the invoice originally issued by Leski Auctions when the lot was sold at Auction. iii) the Original Buyer must have remained the owner of the lot without disposing of any interest in it to any third party 85