The terms and conditions of sale listed here contain the policies of Leski Auctions Pty Ltd. They are the terms on which Leski Auctions Pty Ltd and the Seller contract with the Buyer. They may be amended by printed Saleroom Notices or oral announcements made before and during the sale. By bidding at auction you agree to be bound by these terms. 1. Background to the Terms used in these Conditions The conditions that are listed below contain terms that are used regularly and may need explanation. They are as follows: “the Buyer” means the person with the highest bid accepted by the Auctioneer “the Lot” means any item depicted within the sale for auction and in particular the item or items described against any lot number in the catalogue. “the Hammer price” means the amount of the highest bid accepted by the auctioneer in relation to a lot “the Buyers Premium” means the charge payable by the Buyer to the auction house as a percentage of the hammer price. “the Reserve” means the lowest amount at which Leski Auctions has agreed with the Seller that the lot can be sold. “Forgery” means an item constituting an imitation originally conceived and executed as a whole, with a fraudulent intention to deceive as to authorship, origin, age, period, culture or source, where the correct description as to such matters is not reflected by the description in the catalogue. Accordingly no lot shall be capable of being a forgery by reason of any damage or restoration work of any kind (Including re-painting). “the insured value” means the amount that Leski Auctions in its absolute discretion from time to time shall consider the value for which a lot should be covered for insurance (whether or not insurance is arranged by Leski Auctions.) All values expressed in Leski Auctions Pty Ltd catalogues (in any format) are in Australian Dollars (AU$). All bids, “hammer price”, “reserves”, “Buyers Premium” and other expressions of value are understood by all parties to be in Australian Dollars (AU$) unless otherwise specified. 2. Leski Auctions as Agent Except as otherwise stated Leski Auctions Pty Ltd acts as agent for the Seller. The contract for the sale of the property is therefore made between the Seller and the Buyer. 3. Before the Sale A) EXAMINATION OF PROPERTY Prospective Buyers are strongly advised to examine in person any item in which they are interested before the Auction takes place. Neither Leski Auctions nor the Seller provides any guarantee in relation to the nature of the property apart from the Limited warranty in the paragraph below. The property is otherwise sold “AS IS” B) CATALOGUE AND OTHER DESCRIPTIONS All statements by Leski Auctions in the catalogue entry for the property or in the condition report, or made orally or in writing elsewhere, are statements of opinion and are not to be relied upon as statements of fact. Such statements do not constitute a representation, warranty or assumption of liability by Leski Auctions of any kind. References in the catalogue entry to the condition report to damage or restoration are for guidance only and should be evaluated by personal inspection by the bidder or a knowledgeable representative. The absence of such a reference does not imply that an item is free from defects or restoration, nor does a reference to particular defects imply the absence of any others. Estimates of the selling price should not be relied on as a statement that this is the price at which the item will sell or it’s value for any other purpose. Neither Leski Auctions nor the Seller is responsible for any errors or omissions in the catalogue or any supplemental material. Images are measured height by width (sight size). Illustrations are provided only as a guide and should not be relied upon as a true representation of colour or condition. Images are not shown at a standard scale. Mention is rarely made of frames (which may be provided as supplementary images on the website) which do not form part of the lot as described in the printed catalogue. An item bought “on Extension” must be paid for in full before it will be released to the purchaser or his/her agreed expertising committee or specialist. Payments received for such items will be held “in trust” for up to 90 days or earlier, if the issue of authenticity has been resolved more quickly. Extensions must be requested before the auction. Foreign buyers should note that all transactions are in Australian dollars so there may be a small exchange rate risk. The costs associated with acquiring a good certificate will be carried by the purchaser. If the item turns out to be forged or otherwise incorrectly described, all reasonable costs will be borne by the vendor. C) BUYERS RESPONSIBILITY All property is sold “as is” without representation or warranty of any kind by Leski Auctions or the Seller. Buyers are responsible for satisfying themselves concerning the condition of the property and the matters referred to in the catalogue by requesting a condition report No lot to be rejected if, subsequent to the sale, it has been immersed in liquid or treated by any other process unless the Auctioneer’s permission to subject the lot to such immersion or treatment has first been obtained in writing. 4. At the Sale A) REFUSAL OF ADMISSION Leski Auctions reserves the right at our complete discretion to refuse admission to the auction premises or participation in any auction and to reject any bid. B) REGISTRATION BEFORE BIDDING Any prospective new buyer must complete and sign a registration form and provide photo- identification before bidding. Leski Auctions may request bank, trade or other financial references to substantiate this registration. C) BIDDING AS A PRINCIPAL When making a bid, a bidder is accepting personal liability to pay the purchase price including the buyers premium and all applicable taxes, plus all other applicable charges, unless it has been explicitly agreed in writing with Leski Auctions before the commencement of the sale that the bidder is acting as agent on behalf of an identified third party acceptable to Leski Auctions and that Leski Auctions will only look to the principal for payment. D) INTERNATIONAL REGISTRATIONS All International clients not known to Leski Auctions will be required to scan or fax through an accredited form of photo identification and pay a deposit at our discretion in cleared funds into Leski Auctions’s account at least 24 hours before the commencement of the auction. Bids will not be accepted without this deposit. Leski Auctions also reserves the right to request any additional forms of identification prior to registering an overseas bid. This deposit can be made using a credit card, however the balance of any purchase price in excess of $5,000 can not be charged to this card without prior arrangement. This deposit is redeemable against any auction purchase. E) ABSENTEE BIDS Leski Auctions will use reasonable efforts to execute written bids delivered to us AT LEAST 24 Hours before the sale for the convenience of those clients who are unable to attend the auction in person. If we receive identical written bids on a particular lot, and at the auction these are the highest bids on that lot, then the lot will be sold to the person whose written bid was received and accepted first. Execution of written bids is a free service undertaken subject to other commitments at the time of the sale and we do not accept liability for failing to execute a written bid or for errors or omissions which may arise. It is the bidder’s responsibility to check with Leski Auctions after the auction if they were successful. Unlimited or “Buy” bids will not be accepted. F) TELEPHONE BIDS Priority will be given to overseas and interstate bidders. Please refer to the catalogue for the Telephone Bids form. Arrangements for this service must be confirmed AT LEAST 24 HOURS PRIOR to the auction commencing. Leski Auctions accepts no responsibility whatsoever for any errors or failure to execute bids. In telephone bidding the buyer agrees to be bound by all terms and conditions listed here and accepts that Leski Auctions cannot be held responsible for any mis-communications in the process. The success of telephone bidding cannot be guaranteed due to circumstances that are unforeseen. Buyers should be aware of the risk and accept the consequences should contact be unsuccessful at the time of Auction. You must advise Leski Auctions of the lots in question and you will be assumed to be a buyer at the minimum price of 75% of estimate (ie. reserve) for all such lots. Leski Auctions will advise Telephone Bidders who have registered at least 24 hours before the auction of any relevant changes to descriptions, withdrawals or any other sale room notices. G) ONLINE BIDDING Leski Auctions offers a FREE online bidding service. When bidding online the buyer agrees to be bound by all terms and conditions listed here by Leski Auctions. Leski Auctions accepts no responsibility for any errors, failure to execute bids or any other miscommunications regarding this process. It is the online bidder’s responsibility to ensure the accuracy of the relevant information regarding bids, lot numbers and contact details. Leski Auctions accepts no responsibility for line drop outs, slow screen updstes or any other technical faults beyonds its’ control. H) RESERVES Unless otherwise indicated, all lots are offered subject to a reserve, which is the confidential minimum price below which the Lot will not be sold. The reserve will not exceed the low estimate printed in the catalogue. The auctioneer may open the bidding on any Lot below the reserve by placing a bid on behalf of TERMS AND CONDITIONS OF SALE 78