25 Blythe Road Wednesday 28th March 2018

1. Introduction (a) The contractual relationship of 25 Blythe Road Ltd and Sellers with prospective Buyers is governed by:- (i) these Conditions of Business for Buyers; (ii) the Conditions of Business for Sellers displayed in the saleroom and available from 25 Blythe Road Ltd; (iii) 25 Blythe Road Ltd’s Authenticity Guarantee; (iv) any additional notices and terms printed in the sale catalogue, in each case as amended by any saleroom notice or auctioneer's announcement. (b) As auctioneer, 25 Blythe Road Ltd acts as agent for the Seller. Occasionally, 25 Blythe Road Ltd may own or have a financial interest in a lot. 2. Definitions "Bidder" is any person making, attempting or considering making a bid, including Buyers; "Buyer" is the person who makes the highest bid or offer accepted by the auctioneer, including a Buyer’s principal when bidding as agent; "Seller" is the person offering a lot for sale, including their agent, or executors; “BR” means 25 Blythe Road Ltd, Auctioneers, 25 Blythe Road, London, W14 0PD, company number 7982062. "Buyer’s Expenses" are any costs or expenses due to 25 Blythe Road Ltd from the Buyer; "Buyer’s Premium" is the commission payable by the Buyer on the Hammer Price at the rates set out in the Guide for Prospective Buyers; "Hammer Price" is the highest bid for the Property accepted by the auctioneer at the auction or the post auction sale price; "Purchase Price" is the Hammer Price plus applicable Buyer’s Premium and Buyer’s Expenses; "Reserve Price" (where applicable) is the minimum Hammer Price at which the Seller has agreed to sell a lot. The Buyer’s Premium, Buyer’s Expenses and Hammer Price are subject to VAT, where applicable. 3. Examination of Lots (a) BR’s knowledge of lots is partly dependent on information provided by the Seller and BR is unable to exercise exhaustive due diligence on each lot. Each lot is available for examination before sale. Bidders are responsible for carrying out examinations and research before sale to satisfy themselves over the condition of lots and accuracy of descriptions. (b) All oral and/or written information provided to Bidders relating to lots, including descriptions in the catalogue, condition reports or elsewhere are statements of BR’s opinion and not representations of fact. Estimates may not be relied on as a prediction of the selling price or value of the lot and may be revised from time to time at BR’s absolute discretion. 4. Exclusions and limitations of liability to Buyers (a) BR shall refund the Purchase Price to the Buyer in circumstances where it deems that the lot is a Counterfeit, subject to the terms of BR’s Authenticity Guarantee. (b) Subject to Condition 4(a), neither BR nor the Seller:- (i) is liable for any errors or omissions in any oral or written information provided to Bidders by BR, whether negligent or otherwise; (ii) gives any guarantee or warranty to Bidders and any implied warranties and conditions are excluded (save in so far as such obligations cannot be excluded by English law), other than the express warranties given by the Seller to the Buyer (for which the Seller is solely responsible) under the Conditions of Business for Sellers; (iii) accepts responsibility to Bidders for acts or omissions (whether negligent or otherwise) by BR in connection with the conduct of auctions or for any matter relating to the sale of any lot. (c) Without prejudice to Condition 4(b), any claim against BR and/or the Seller by a Bidder is limited to the Purchase Price for the relevant lot. Neither BR nor the Seller shall be liable for any indirect or consequential losses. (d) Nothing in Condition 4 shall exclude or limit the liability of BR or the Seller for death or personal injury caused by the negligent acts or omissions of BR or the Seller. 5. Bidding at Auction (a) BR has absolute discretion to refuse admission to the auction. Before sale, Bidders must complete a Registration Form and supply such information and references as BR requires. Bidders are personally liable for their bid and are jointly and severally liable with their principal, if bidding as agent (in which case BR’s prior and express consent must be obtained). (b) BR advises Bidders to attend the auction, but BR will endeavour to execute absentee written bids provided that they are, in BR’s opinion, received in sufficient time and in legible form. (c) When available, written and telephone bidding is offered as a free service at the Bidder’s risk and subject to BR’s other commitments; BR is therefore not liable for failure to execute such bids. Telephone bidding may be recorded. 6. Import, Export and Copyright Restrictions BR and the Seller make no representations or warranties as to whether any lot is subject to import, export or copyright restrictions. It is the Buyer's sole responsibility to obtain any copyright clearance or any necessary import, export or other licence required by law, including licences required under the Convention on the International Trade in Endangered Species (CITES). ~ Lots marked with the symbol ‘~’ have been identified at the time of cataloguing as containing organic material which may be subject to restrictions regarding import and export. 7. Conduct of the Auction (a) The auctioneer has discretion to refuse bids, withdraw or re-offer lots for sale (including after the fall of the hammer) if (s)he believes that there may be an error or dispute, and may also take such other action as (s)he reasonably deems necessary. (b) The auctioneer will commence and advance the bidding in such increments as (s)he considers appropriate and is entitled to place bids on the Conditions of Business for Buyers

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