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Lot 336: Thomas Bromley Blacklock (1863-1903) British. "The Tyne, East Linton", a Tranquil River Landscape, Oil on Canvas, Signed and Dated 1890, 16" x 24". Provenance; George B. Horsburgh - East Linton District Community Association Art Exhibition.

Est: £300 GBP - £500 GBPSold:
John Nicholson's Fine Art Auctioneers & ValuersMay 03, 2017Haslemere, United Kingdom

Item Overview

Description

Thomas Bromley Blacklock (1863-1903) British. "The Tyne, East Linton", a Tranquil River Landscape, Oil on Canvas, Signed and Dated 1890, 16" x 24". Provenance; George B. Horsburgh - East Linton District Community Association Art Exhibition.

Payment & Shipping

Payment

Accepted forms of payment: MasterCard, Visa, Wire Transfer

Shipping

BUYING AT AUCTION

The following pages are designed to give you useful information on how to buy at auction. Sotheby's staff as listed at the front of this catalogue will be happy to assist you. However, it is important that you read the following information carefully and note that Sotheby's acts for the seller; you should refer in particular to Conditions 3 and 4 of the Conditions of Business for Buyers printed in this catalogue. Prospective bidders should also consult www.sothebys.com for the most up to date cataloguing of the property in this catalogue.
Buyer's Premium A buyer's premium will be added to the hammer price and is payable by the buyer as part of the total purchase price. The buyer's premium is 25% of the hammer price up to and including £100,000, 20% of any amount in excess of £100,000 up to and including £1,800,000, and 12% of any amount in excess of £1,800,000.
1. BEFORE THE AUCTION
Catalogue Subscriptions If you would like to take out a catalogue subscription, please ring +44 (0)20 7293 5000.
Pre-sale Estimates Pre-sale estimates are intended as a guide for prospective buyers. Any bid between the high and low pre-sale estimates would, in our opinion, offer a chance of success. However, lots can realise prices above or below the pre-sale estimates.
It is advisable to consult us nearer the time of sale as estimates can be subject to revision. The estimates printed in the auction catalogue do not include the buyer's premium or VAT.
Pre-sale Estimates in US Dollars and Euros Although the sale is conducted in pounds sterling, the pre-sale estimates in some catalogues are also printed in US dollars and/or euros. The rate of exchange is the rate at the time of production of this catalogue. Therefore, you should treat the estimates in US dollars or euros as a guide only.
Condition of Lots Prospective buyers are encouraged to inspect the property at the pre-sale exhibitions. Solely as a convenience, Sotheby's may also provide condition reports. The absence of reference to the condition of a lot in the catalogue description does not imply that the lot is free from faults or imperfections. Please refer to Condition 3 of the Conditions of Business for Buyers printed in this catalogue.
Electrical and Mechanical Goods All electrical and mechanical goods are sold on the basis of their artistic and decorative value only, and should not be assumed to be operative. It is essential that prior to any intended use, the electrical system is checked and approved by a qualified electrician.
Provenance In certain circumstances, Sotheby's may print in the catalogue the history of ownership of a work of art if such information contributes to scholarship or is otherwise well known and assists in distinguishing the work of art. However, the identity of the seller or previous owners may not be disclosed for a variety of reasons. For example, such information may be excluded to accommodate a seller's request for confidentiality or because the identity of prior owners is unknown given the age of the work of art.
2. DURING THE AUCTION
Conditions of Business The auction is governed by the Conditions of Business and Authenticity Guarantee. These apply to all aspects of the relationship between Sotheby's and actual and prospective bidders and buyers. Anyone considering bidding in the auction should read them carefully. They may be amended by way of notices posted in the saleroom or by way of announcement made by the auctioneer.
Bidding at Auction Bids may be executed in person by paddle during the auction, in writing prior to the sale, by telephone or by BIDnow.
Auction speeds vary, but average between 50 and 120 lots per hour. The bidding steps are generally in increments of approximately 10% of the previous bid.
Please refer to Conditions 5 and 6 of the Conditions of Business for Buyers printed in this catalogue.
Bidding in Person To bid in person, you will need to register for and collect a numbered paddle before the auction begins. Proof of identity will be required. If you have a Sotheby's Client Card, it will facilitate the registration process.
Should you be the successful buyer of a lot, please ensure that your paddle can be seen by the auctioneer and that it is your number that is called out. Should there be any doubts as to price or buyer, please draw the auctioneer's attention to it immediately.
All lots sold will be invoiced to the name and address in which the paddle has been registered and cannot be transferred to other names and addresses.
Please do not mislay your paddle; in the event of loss, inform the Sales Clerk immediately. At the end of the sale, please return your paddle to the registration desk.
Absentee, Telephone and Internet Bids If you cannot attend the auction, we will be happy to execute written bids on your behalf or you can bid on the telephone for lots with a minimum low estimate of £3,000 or you can bid online using BIDnow. A bidding form and more information can be found at the back of this catalogue.
Online Bidding via BIDnow If you cannot attend the auction, it may be possible to bid online via BIDnow for selected sales. This service is free and confidential. For information about registering to bid via BIDnow, please refer to sothebys.com. Bidders using the BIDnow service are subject to the Additional Terms and Conditions for Live Online Bidding via BIDnow, which can be viewed at sothebys.com, as well as the Conditions of Business applicable to the sale.
Consecutive and Responsive Bidding The auctioneer may open the bidding on any lot by placing a bid on behalf of the seller. The auctioneer may further bid on behalf of the seller, up to the amount of the reserve, by placing consecutive or responsive bids for a lot. Please refer to Condition 6 of the Conditions of Business for Buyers printed in this catalogue.
Interested Parties Announcement In situations where a person who is allowed to bid on a lot has a direct or indirect interest in such lot, such as the beneficiary or executor of an estate selling the lot, a joint owner of the lot, or a party providing or participating in a guarantee of the lot, Sotheby's will make an announcement in the saleroom that interested parties may bid on the lot. In certain instances, interested parties may have knowledge of the reserves.
Employee Bidding Sotheby's employees may bid only if the employee does not know the reserve and fully complies with Sotheby's internal rules governing employee bidding.
US Economic Sanctions The United States maintains economic and trade sanctions against targeted foreign countries, groups and organiszations. There may be restrictions on the import into the United States of certain items originating in sanctioned countries, including Burma, Cuba, Iran, North Korea and Sudan. The purchaser's inability to import any item into the US or any other country as a result of these or other restrictions shall not justify cancellation or rescission of the sale or any delay in payment. Please check with the specialist department if you are uncertain as to whether a lot is subject to these import restrictions, or any other restrictions on importation or exportation.
3. AFTER THE AUCTION
Payment Payment is due immediately after the sale and may be made by the following methods: Sterling wire transfer, Sterling cheque, Sterling cash, UK debit card. Payment may also be made by Visa, MasterCard and non-UK debit card subject to a 1.2% surcharge, and by American Express and CUP subject to a 1.75% surcharge.
• It is against Sotheby's general policy to accept single or multiple related payments in the form of cash or cash equivalents in excess of the local currency equivalent of US$10,000.
• It is Sotheby's policy to request any new clients or buyers preferring to make a cash payment to provide: proof of identity (by providing some form of government issued identification containing a photograph, such as a passport, identity card or driver's licence) and confirmation of permanent address. Thank you for your co-operation.
Cheques should be made payable to Sotheby's. Although personal and company cheques drawn in pounds sterling on UK banks are accepted, you are advised that property will not be released until such cheques have cleared unless you have a pre-arranged Cheque Acceptance Facility. Forms to facilitate this are available from the Post Sale Services Department.
Bank transfers Our bank account details are shown on our invoices. Please include your name, Sotheby's account number and invoice number with your instructions to your bank. Please note that we reserve the right to decline payments received from anyone other than the buyer of record and that clearance of such payments will be required. Please contact our Post Sale Services Department if you have any questions concerning clearance.
Card payments below £30,000 (excluding CUP), can be made remotely by completing our Absentee Card Payment Form. For further details please contact the Post Sale Services Department on +44 (0)20 7293 5220.
We reserve the right to seek identification of the source of funds received.
The Conditions of Business require buyers to pay immediately for their purchases. However, in limited circumstances and with the seller's agreement, Sotheby's may grant buyers it deems creditworthy the option of paying for their purchases on an extended payment term basis. Generally credit terms must be arranged prior to the sale. In advance of determining whether to grant the extended payment terms, Sotheby's may require credit references and proof of identity and residence.
Collection It is Sotheby's policy to request proof of identity on collection of a lot. Lots will be released to you or your authorised representative when full and cleared payment has been received by Sotheby's. If you are in doubt about the location of your purchases, please contact the Sale Administrator prior to arranging collection. Removal, storage and handling charges may be levied on uncollected lots. Please refer to Condition 7 of the Conditions of Business for Buyers printed in this catalogue.
Storage Storage and handling charges may apply. For information concerning post sale storage and charges, please see Sotheby's Greenford Park, Storage and Collection Information at the back of this catalogue. Please refer to Condition 7 of the Conditions of Business for Buyers printed in this catalogue.
All purchases remaining at our New Bond Steet premises 90 days after the sale will be transferred to Sotheby's Greenford Park Fine Art Storage (see Sotheby's Greenford Park, Storage and Collection information). All such purchases will be subject to further storage and handling charges from this point.
Loss or Damage Buyers are reminded that Sotheby's accepts liability for loss or damage to lots for a maximum period of thirty (30) days after the date of the auction. Please refer to Condition 7 of the Conditions of Business for Buyers printed in this catalogue.
Shipping Sotheby's offers a comprehensive shipping service. Except if otherwise indicated in this Buying At Auction Guide, our Shipping Department can advise buyers on exporting and shipping property, and arranging delivery.
For assistance please contact:
Post Sale Services (Mon-Fri 9am to 5 pm)
Tel +44 (0)20 7293 5220
Fax +44 (0)20 7293 5910
Email: [email protected]
We will send you a quotation for shipping your purchase(s). Transit risk insurance may also be included in your quotation. If the quotation is accepted, we will arrange the shipping for you and will despatch the property as soon as possible after receiving your written agreement to the terms of the quotation, financial release of the property and receipt of any export licence or certificates that may be required. Despatch will be arranged at the buyer's expense. Sotheby's may charge an administrative fee for arranging the despatch.
All shipments should be unpacked and checked on delivery and any discrepancies notified immediately to the party identified in your quotation and/or the accompanying documentation.
Export The export of any lot from the UK or import into any other country may be subject to one or more export or import licences being granted. It is the buyer's responsibility to obtain any relevant export or import licence. The denial of any licence required or delay in obtaining such licence cannot justify the cancellation of the sale or any delay in making payment of the total amount due.
Sotheby's, upon request and for an administrative fee, may apply for a licence to export your lot(s) outside the UK
• An EU Licence is necessary to export cultural goods subject to the EU Regulation on the export of cultural property (EEC No. 3911/92, Official Journal No. L395 of 31/12/92) from the European Community.
• A UK Licence is necessary to move cultural goods valued at or above the relevant UK Licence limits from the UK.
For export outside the European Community, an EU Licence will be required for most items over 50 years of age with a value of over £39,219. The following is a selection of categories of items for which other value limits apply and for which an EU Licence may be required. It is not exhaustive and there are other restrictions.
EU Licence Thresholds
Archaeological objects
EU LICENCE THRESHOLD: ZERO
Elements of artistic, historical or religious
monuments
EU LICENCE THRESHOLD: ZERO
Manuscripts, documents and archives
(excluding printed matter)
EU LICENCE THRESHOLD: ZERO
Architectural, scientific and engineering drawings produced by hand
EU LICENCE THRESHOLD: £11,766
Photographic positive or negative or any
assemblage of such photographs
EU LICENCE THRESHOLD: £11,766
Textiles (excluding carpets and tapestries)
EU LICENCE THRESHOLD: £39,219
Paintings in oil or tempera
EU LICENCE THRESHOLD: £117,657
Watercolours, gouaches and pastels
EU LICENCE THRESHOLD: £23,531
Prints, Engravings, Drawings and Mosaics
EU LICENCE THRESHOLD: £11,766
There are separate thresholds for exporting within the European Community. A UK Licence will be required for most items over 50 years of age with a value of over £65,000. Some exceptions are listed below:
UK Licence Thresholds
Photographic positive or negative or any
assemblage of such photographs
UK LICENCE THRESHOLD: £10,000
Textiles (excluding carpets and tapestries)
UK LICENCE THRESHOLD: £12,000
British Historical Portraits
UK LICENCE THRESHOLD: £10,000
Sotheby's recommends that you retain all import and export papers, including licences, as in certain countries you may be required to produce them to governmental authorities.
Endangered Species Items made of or incorporating plant or animal material, such as coral, crocodile, ivory, whalebone, tortoiseshell, etc., irrespective of age or value, may require a licence or certificate prior to exportation and require additional licences or certificates upon importation to any country outside the EU. Please note that the ability to obtain an export licence or certificate does not ensure the ability to obtain an import licence or certificate in another country, and vice versa. For example, it is illegal to import African elephant ivory into the United States and there are other restrictions on the importation of ivory into the US under certain US regulations which are designed to protect wildlife conservation.
Sotheby's suggests that buyers check with their own government regarding wildlife import requirements prior to placing a bid. It is the buyer's responsibility to obtain any export or import licences and/or certificates as well as any other required documentation (please refer to Condition 10 of the Conditions of Business for Buyers printed in this catalogue). Please note that Sotheby's is not able to assist buyers with the shipment of any lots containing ivory and/or other restricted materials into the US. A buyer's inability to export or import these lots cannot justify a delay in payment or a sale's cancellation.


EXPLANATION OF SYMBOLS

The following key explains the symbols you may see inside this catalogue.
http://www.sothebys.com/en/key-to-lots-symbols.html

Guaranteed Property
The seller of lots with this symbol has been guaranteed a minimum price from one auction or a series of auctions. This guarantee may be provided by Sotheby's or jointly by Sotheby's and a third party. Sotheby's and any third parties providing a guarantee jointly with Sotheby's benefit financially if a guaranteed lot is sold successfully and may incur a loss if the sale is not successful. If every lot in a catalogue is -guaranteed, the Important Notices in the sale catalogue will so state and this symbol will not be used for each lot.

Property in which Sotheby's has an Ownership Interest
Lots with this symbol indicate that Sotheby's owns the lot in whole or in part or has an economic interest in the lot equivalent to an ownership interest.

Irrevocable Bids
Lots with this symbol indicate that a party has provided Sotheby's with an irrevocable bid on the lot that will be executed during the sale. The irrevocable bidder, who may bid in excess of the irrevocable bid, will be compensated based on the final hammer price in the event he or she is not the successful bidder. If the irrevocable bidder is the successful bidder, he or she will be required to pay the full Buyer's Premium and will not be otherwise compensated. If the irrevocable bid is not secured until after the printing of the auction catalogue, a pre-lot announcement will be made indicating that there is an irrevocable bid on the lot.

Interested Parties
Lots with this symbol indicate that parties with a direct or indirect interest in the lot may be bidding on the lot, including (i) the beneficiary of an estate selling the lot, or (ii) the joint owner of a lot. If the interested party is the successful bidder, they will be required to pay the full Buyer's Premium. In certain instances, interested parties may have knowledge of the reserve. In the event the interested party's possible participation in the sale is not known until after the printing of the auction catalogue, a pre-lot announcement will be made indicating that interested parties may be bidding on the lot.

No Reserve
Unless indicated by a box (¡à), all lots in this catalogue are offered subject to a reserve. A reserve is the confidential hammer price established between Sotheby's and the seller and below which a lot will not be sold. The reserve is generally set at a percentage of the low estimate and will not exceed the low estimate for the lot. If any lots in the catalogue are offered without a reserve, these lots are indicated by a box (¡à). If all lots in the catalogue are offered without a reserve, a Special Notice will be included to this effect and the box symbol will not be used for each lot.

Property Subject to the Artist's Resale Right
Purchase of lots marked with this symbol (§]) will be subject to payment of the Artist's Resale Right, at a percentage of the hammer price calculated as follows:
Portion of the hammer price (in €)
Royalty Rate
From 0 to 50,000 4%
From 50,000.01 to 200,000 3%
From 200,000.01 to 350,000 1%
From 350,000.01 to 500,000 0.5%
Exceeding 500,000 0.25%

The Artist's Resale Right payable will be the aggregate of the amounts payable under the above rate bands, subject to a maximum royalty payable of 12,500 euros for any single work each time it is sold. The maximum royalty payable of 12,500 euros applies to works sold for 2 million euros and above. Calculation of the artist's resale right will be based on the pound sterling / Euro reference exchange rate quoted on the date of the sale by the European Central Bank.

Restricted Materials
Lots with this symbol have been identified at the time of cataloguing as containing organic material which may be subject to restrictions regarding import or export. The information is made available for the convenience of Buyers and the absence of the Symbol is not a warranty that there are no restrictions regarding import or export of the Lot; Bidders should refer to Condition 10 of the Conditions of Business for Buyers. Please also refer to the section on Endangered Species in the Buying at Auction Guide. As indicated in the Endangered Species section, Sotheby's is not able to assist buyers with the shipment of any lots with this symbol into the US.
A buyer's inability to export or import any lots with this symbol cannot justify a delay in payment or a sale's cancellation.

Monumental
Lots with this symbol may, in our opinion, require special handling or shipping services due to size or other physical considerations. Buyers are advised to inspect the lot and to contact Sotheby's prior to the sale to discuss any specific shipping requirements.
Please refer to VAT information for Buyers for VAT symbols used in this catalogue. Value Added Tax (VAT) may be payable on the hammer price and/or the buyer's premium. Buyer's premium may attract a charge in lieu of VAT. Please read carefully the "VAT INFORMATION FOR BUYERS" printed in this catalogue.


VAT AND OTHER TAX
INFORMATION FOR BUYERS

The following paragraphs are intended to give general guidance to buyers on the VAT and certain other potential tax implications of purchasing property at Sotheby's. The information concerns the most usual circumstances and is not intended to be complete. In all cases the relevant tax legislation takes precedence and the VAT rates in effect on the day of the auction will be the rates charged except for lots sold subject to Temporary Admission for which the applicable rate will be that in force at the time of collection. It should be noted that, for VAT purposes only, Sotheby's is not usually treated as an agent and most property is sold as if it is the property of Sotheby's.
In the following paragraphs, reference to VAT symbols shall mean those symbols located beside the lot number or the pre-sale estimates in the catalogue (or amending sale room notice).
1. PROPERTY WITH NO VAT SYMBOL
Where there is no VAT symbol, Sotheby's is able to use the Auctioneer's Margin Scheme and VAT will not normally be charged on the hammer price.
Sotheby's must bear VAT on the buyer's premium and hence will charge an amount in lieu of VAT at the standard rate on this premium. This amount will form part of the buyer's premium on our invoice and will not be separately identified. A limited range of goods, including most books, are not liable to VAT and therefore no amount in lieu of VAT will be added to the premium.
Please see 'Exports from the European Union' for the conditions to be fulfilled before the amount in lieu of VAT on the buyer's premium may be cancelled or refunded.
(VAT-registered buyers from within the European Union (EU) should note that the amount in lieu of VAT contained within the buyer's premium cannot be cancelled or refunded by Sotheby's or HM Revenue and Customs.)
Buyers requiring an invoice under the normal VAT rules, instead of a margin scheme invoice, should notify the Post Sale Service Group or the Client Accounts Department on the day of the auction and an invoice with VAT on the hammer price will be raised. Buyers requiring reinvoicing under the normal VAT rules subsequent to a margin scheme invoice having been raised should contact the Client Accounts Department for assistance.
2. PROPERTY WITH A ¢" SYMBOL
These items will be sold under the normal UK VAT rules and VAT will be charged at the standard rate on both the hammer price and buyer's premium.
Please see 'Exports from the European Union' for the conditions to be fulfilled before the VAT charged on the hammer price may be cancelled or refunded.
(VAT-registered buyers from other EU countries may have the VAT cancelled or refunded if they provide Sotheby's with their VAT registration number and evidence that the property has been removed from the UK within three months of the date of sale. The evidence of removal required is a certificate of shipment or, if the lots were carried by hand, proof of travel and completion of a form available from the Post Sale Service Group.
3. PROPERTY WITH A ¥á SYMBOL
Items sold to buyers whose address is in the EU will be assumed to be remaining in the EU. The property will be invoiced as if it had no VAT symbol (see 'Property with no VAT symbol' above). However, if the property is to be exported from the EU, Sotheby's will re-invoice the property under the normal VAT rules (see 'Property sold with a ¢" symbol' above) as requested by the seller.
Items sold to buyers whose address is outside the EU will be assumed to be exported from the EU. The property will be invoiced under the normal VAT rules (see 'Property sold with a ¢" symbol' above). Although the hammer price will be subject to VAT this will be cancelled or refunded upon export - see 'Exports from the European Union'. However, buyers who are not intending to export their property from the EU should notify our Client Accounts Department on the day of the sale and the property will be re-invoiced showing no VAT on the hammer price (see 'Property sold with no VAT symbol' above).
4. PROPERTY SOLD WITH A ¢' OR ¥Ø SYMBOL
These items have been imported from outside the EU to be sold at auction under Temporary Admission. When Sotheby's releases such property to buyers in the UK, the buyer will become the importer and must pay Sotheby's import VAT at the following rates on the hammer price:
¢' - the reduced rate
¥Ø - the standard rate
You should also note that the appropriate rate will be that in force on the date of collection of the property from Sotheby's and not that in force at the date of the sale.
These lots will be invoiced under the margin scheme. Sotheby's must bear VAT on the buyer's premium and hence will charge an amount in lieu of VAT at the standard rate on this premium. This amount will form part of the buyer's premium on our invoice and will not be separately identified.
(VAT-registered buyers from the EU should note that the import VAT charged on property released in the UK cannot be cancelled or refunded by Sotheby's, however you may be able to seek repayment) by applying to HM Revenue and Customs - see 'VAT Refunds from HM Revenue and Customs')
(VAT-registered buyers from the UK should note that the invoice issued by Sotheby's for these items is not suitable evidence in respect of import VAT.)
On request, immediately after sale, the Temporary Admission Department can either ask HM Revenue and Customs to generate a C79 certificate (for UK buyers), or obtain a copy of the import C88 (for other EU VAT registered buyers), which may be used to claim recovery of the VAT. Otherwise Sotheby's may re-invoice the lot as if it had been sold with a ¢" symbol and charge VAT at the standard rate on both the hammer price and premium and provide a tax invoice to the buyer. This may enable a buyer who is VAT registered elsewhere in the EU to avoid payment of VAT in the United Kingdom. Re-invoicing in this way may make the lot ineligible to be re-sold using the margin scheme.
Sotheby's will transfer all lots sold subject to Temporary Admission to its Customs warehouse immediately after sale.
5. EXPORTS FROM THE EUROPEAN UNION
The following amounts of VAT may be cancelled or refunded provided Sotheby's receive the appropriate export documents within the time limits stated:
Property with no VAT symbol (see paragraph 1)
The amount in lieu of VAT charged on Buyers Premium may be refunded provided the purchaser resides outside of the United Kingdom and the property is exported from the EU within 3 months of the sale. Sotheby's must be provided with the appropriate proof of export immediately after export of the goods.
Property with a ¢" symbol
The VAT charged upon the hammer price may be refunded provided the purchaser resides outside of the United Kingdom and the property is exported from the EU within 3 months of the sale. Sotheby's must be provided with the appropriate proof of export immediately after export of the goods.
Property with a ¢' or a ¥Ø symbol
The Temporary Admission VAT charged on the hammer price may be refunded under the following circumstances:
• Sotheby's is instructed to ship the property to a place outside the EU
• The property is hand carried from the UK directly outside the EU and Sotheby's pre lodge the export entry with HMRC
• The VAT liability is transferred to your shippers own Temporary Admission or Customs Warehouse arrangement prior to collection from Sotheby's
Under all other circumstances Sotheby's is required to complete the importation and pay the VAT due to HM Revenue and Customs prior to the property leaving its premises and so a VAT refund will not be possible.
Proof of export required
• for lots sold under the margin scheme (no VAT symbol) or the normal VAT rules (¢" symbol), Sotheby's is provided with appropriate documentary proof of export from the EU. Buyers carrying their own property should obtain hand-carry papers from the Shipping department to facilitate this process.
• for lots sold under Temporary Admission (¢' or ¥Ø symbols), and subsequently transferred to Sotheby's Customs Warehouse (into Bond). The property must be shipped as described above in the paragraph headed Property with a ¢' or a ¥Ø symbol.
• buyers carrying their own property must obtain hand-carry papers from the Shipping Department for which a small administrative charge will be made. The VAT refund will be processed once the appropriate paperwork has been returned to Sotheby's.
• Sotheby's is not able to cancel or refund any VAT charged on sales made to UK or EU private residents unless the lot is subject to Temporary Admission and the property is exported from the EU and the requisite export papers provided to Sotheby's within one month of collection of the property.
• Sotheby's is not able to cancel or refund any VAT charged on sales to UK or EU private residents unless the lot is subject to Temporary Admission and is shipped as described above.
Buyers intending to export, repair, restore or alter lots sold under Temporary Admission (¢' or ¥Ø symbols) and therefore transferred to Customs Warehouse after sale should notify the Shipping Department before collection. Failure to do so may result in the import VAT becoming payable immediately and Sotheby's being unable to refund the VAT charged on deposit.
6. VAT REFUNDS FROM HM REVENUE AND CUSTOMS
Where VAT charged cannot be cancelled or refunded by Sotheby's, it may be possible to seek repayment from HM Revenue and Customs. Repayments in this manner are limited to businesses located outside the UK.
Claim forms are available from:
HM Revenue and Customs
VAT Overseas Repayments Unit
PO Box 34, Foyle House
Duncreggan Road, Londonderry
Northern Ireland, BT48 7AE
Tel: +44 (0)2871 305100
Fax: +44 (0)2871 305101
[email protected]
7. SALES AND USE TAXES
Buyers from outside the UK should note that local sales taxes or use taxes may become payable upon import of items following purchase (for example, the Use Tax payable on import of purchased items to certain states of the USA). Buyers should obtain their own advice in this regard.
Sotheby's is registered to collect sales tax in the states of New York and California, USA. In the event that Sotheby's ships items for a purchaser in this sale to a destination within New York State USA, or California State USA, Sotheby's is obliged to collect the respective state's sales or use tax on the total purchase price and shipping costs, including insurance, of such items, regardless of the country in which the purchaser resides or is a citizen. Where the purchaser has provided Sotheby's with a valid Resale Exemption Certificate prior to the release of the property, sales and use tax will not be charged. Clients to whom this tax might apply are advised to contact the Post Sale Manager listed in the front of this catalogue before arranging shipping.


CONDITIONS OF BUSINESS FOR BUYERS

1. INTRODUCTION
(a) Sotheby's and Sellers' contractual relationship with prospective Buyers is governed by:
(i) these Conditions of Business;
(ii) the Conditions of Business for Sellers displayed in the saleroom and which are available upon request from Sotheby's UK salerooms or by telephoning +44 (0)20 7293 6152;
(iii) Sotheby's Authenticity Guarantee as printed in the sale catalogue;
(iv) any additional notices and terms printed in the sale catalogue, including Buying at Auction and,
(v) in respect of online bidding via the internet, the BIDnow Conditions on the Sotheby's website, in each case as amended by any saleroom notice or auctioneer's announcement at the auction.
(b) As auctioneer, Sotheby's acts as agent for the Seller. A sale contract is made directly between the Seller and the Buyer. However, Sotheby's may own a lot (and in such circumstances acts in a principal capacity as Seller) and/or may have a legal, beneficial or financial interest in a lot as a secured creditor or otherwise.
2. COMMON TERMS IN THESE CONDITIONS OF BUSINESS:
Bidder is any person considering, making or attempting to make a bid, by whatever means, and includes Buyers;
Buyer is the person who makes the highest bid or offer accepted by the auctioneer, and includes such person's principal when bidding as agent;
Buyer's Expenses are any costs or expenses due to Sotheby's from the Buyer and any Artist's Resale Right levy payable in respect of the sale of the Property, including an amount in respect of any applicable VAT thereon;
Buyer's Premium is the commission payable by the Buyer on the Hammer Price at the rates set out in Buying at Auction;
Counterfeit is as defined in Sotheby's Authenticity Guarantee;
Hammer Price is the highest bid accepted by the auctioneer by the fall of the hammer (in the case of wine, as apportioned pro-rata by reference to the number of separately identified items in that lot), or in the case of a post-auction sale, the agreed sale price;
Purchase Price is the Hammer Price and applicable Buyer's Premium and VAT;
Reserve is the (confidential) minimum Hammer Price at which the Seller has agreed to sell a lot;
Seller is the person offering a lot for sale (including their agent (other than Sotheby's), executors or personal representatives);
Sotheby's means Sotheby's, the unlimited company which has its registered office at 34-35 New Bond Street, London W1A 2AA;
Sotheby's Company means both Sotheby's in the USA and any of its subsidiaries (including Sotheby's in London) and Sotheby's Diamonds S.A. and its subsidiaries (in each case "subsidiary" having the meaning of Section 736 of the Companies Act 1985);
VAT is Value Added Tax at the prevailing rate. Further information is contained in Buying at Auction.
3. DUTIES OF BIDDERS AND OF SOTHEBY'S IN RESPECT OF ITEMS FOR SALE
(a) Sotheby's knowledge in relation to each lot is partially dependent on information provided to it by the Seller, and Sotheby's is not able to and does not carry out exhaustive due diligence on each lot. Bidders acknowledge this fact and accept responsibility for carrying out inspections and investigations to satisfy themselves as to the lots in which they may be interested.
(b) Each lot offered for sale at Sotheby's is available for inspection by Bidders prior to the sale. Sotheby's accepts bids on lots solely on the basis that Bidders (and independent experts on their behalf, to the extent appropriate given the nature and value of the lot and the Bidder's own expertise) have fully inspected the lot prior to bidding and have satisfied themselves as to both the condition of the lot and the accuracy of its description.
(c) Bidders acknowledge that many lots are of an age and type which means that they are not in perfect condition. All lots are offered for sale in the condition they are in at the time of the auction (whether or not Bidders are in attendance at the auction). Condition reports may be available to assist when inspecting lots. Catalogue descriptions and condition reports may on occasions make reference to particular imperfections of a lot, but Bidders should note that lots may have other faults not expressly referred to in the catalogue or condition report. Illustrations are for identification purposes only and will not convey full information as to the actual condition of lots.
(d) Information provided to Bidders in respect of any lot, including any estimate, whether written or oral and including information in any catalogue, condition or other report, commentary or valuation, is not a representation of fact but rather is a statement of opinion genuinely held by Sotheby's. Any estimate 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 in Sotheby's absolute discretion.
(e) No representations or warranties are made by Sotheby's or the Seller as to whether any lot is subject to copyright or whether the Buyer acquires copyright in any lot.
(f) Subject to th-e matters referred to in Conditions 3(a) to 3(e) above and to the specific exclusions contained at Condition 4 below, Sotheby's shall exercise such reasonable care when making express statements in catalogue descriptions or condition reports as is consistent with its role as auctioneer of lots in the sale to which these Conditions relate, and in the light of (i) the information provided to it by the Seller; (ii) scholarship and technical knowledge; and (iii) the generally accepted opinions of relevant experts, in each case at the time any such express statement is made.
4. EXCLUSIONS AND LIMITATIONS OF LIABILITY TO BUYERS
(a) Sotheby's shall refund the Purchase Price to the Buyer in circumstances where it deems that the lot is a Counterfeit and each of the conditions of the Authenticity Guarantee has been satisfied.
(b) In the light of the matters in Condition 3 above and subject to Conditions 4(a) and 4(e), neither any Sotheby's Company nor the Seller:
(i) is liable for any errors or omissions in information provided to Bidders by Sotheby's (or any Sotheby's Company), whether orally or in writing, whether negligent or otherwise, except as set out in Condition 3(f) above;
(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 law) other than the express warranties given by the Seller to the Buyer in Condition 2 of the Sellers' Conditions of Business;
(iii) accepts responsibility to any Bidders in respect of acts or omissions (whether negligent or otherwise) by Sotheby's in connection with the conduct of auctions or for any matter relating to the sale of any lot.
(c) Unless Sotheby's owns a lot offered for sale, it is not responsible for any breach of these conditions by the Seller.
(d) Without prejudice to Condition 4(b), any claim against Sotheby's or the Seller by a Bidder is limited to the Purchase Price with regard to that lot. Neither Sotheby's nor the Seller shall under any circumstances be liable for any consequential losses.
(e) None of this Condition 4 shall exclude or limit Sotheby's liability in respect of any fraudulent misrepresentation made by Sotheby's or the Seller, or in respect of death or personal injury caused by the negligent acts or omissions of Sotheby's or the Seller.
5. BIDDING AT AUCTION
(a) Sotheby's has absolute discretion to refuse admission to the auction. Bidders must complete a Paddle Registration Form and supply such information and references as required by Sotheby's. Bidders act as principal unless they have Sotheby's prior written consent to bid as agent for another party. Bidders are personally liable for their bid and are jointly and severally liable with their principal if bidding as agent.
(b) Sotheby's advises Bidders to attend the auction but will seek to carry out absentee written bids which are in pounds sterling and, in Sotheby's opinion, clear and received sufficiently in advance of the sale of the lot, endeavouring to ensure that the first received of identical written bids has priority.
(c) Where available, written, telephone and online bids are offered as an additional service for no extra charge, at the Bidder's risk and shall be undertaken with reasonable care subject to Sotheby's other commitments at the time of the auction; Sotheby's therefore cannot accept liability for failure to place such bids save where such failure is unreasonable. Telephone and online bids may be recorded. Online bids ("BIDnow") are made subject to the BIDnow Conditions available on the Sotheby's website or upon request. The BIDnow Conditions apply in relation to online bids, in addition to these Conditions of Business.
6. CONDUCT OF THE AUCTION
(a) Unless otherwise specified, all lots are offered subject to a Reserve, which shall be no higher than the low presale estimate at the time of the auction.
(b) The auctioneer has discretion at any time to refuse any bid, withdraw any lot, re-offer a lot for sale (including after the fall of the hammer) if he believes there may be error or dispute, and take such other action as he reasonably thinks fit.
(c) The auctioneer will commence and advance the bidding at levels and in increments he considers appropriate and is entitled to place a bid or series of bids on behalf of the Seller up to the Reserve on the lot, without indicating he is doing so and whether or not other bids are placed.
(d) Subject to Condition 6(b), the contract between the Buyer and the Seller is concluded on the striking of the auctioneer's hammer, whereupon the Buyer becomes liable to pay the Purchase Price.
(e) Any post-auction sale of lots offered at auction shall incorporate these Conditions as if sold in the auction.
7. PAYMENT AND COLLECTION
(a) Unless otherwise agreed, payment of the Purchase Price for a lot and any Buyer's Expenses are due by the Buyer in pounds sterling immediately on conclusion of the auction (the "Due Date") notwithstanding any requirements for export, import or other permits for such lot.
(b) Title in a purchased lot will not pass until Sotheby's has received the Purchase Price and Buyer's Expenses for that lot in cleared funds. Sotheby's is not obliged to release a lot to the Buyer until title in the lot has passed and appropriate identification has been provided, and any earlier release does not affect the passing of title or the Buyer's unconditional obligation to pay the Purchase Price and Buyer's Expenses.
(c) The Buyer is obliged to arrange collection of purchased lots no later than thirty (30) calendar days after the date of the auction. Purchased lots are at the Buyer's risk (and therefore their sole responsibility for insurance) from the earliest of i) collection or ii) the thirty-first calendar day after the auction. Until risk passes, Sotheby's will compensate the Buyer for any loss or damage to the lot up to a maximum of the Purchase Price paid. Buyers should note that Sotheby's assumption of liability for loss or damage is subject to the exclusions set out in Condition 6 of the Conditions of Business for Sellers.
(d) For all items stored by a third party and not available for collection from Sotheby's premises, the supply of authority to release to the Buyer shall constitute collection by the Buyer.
(e) All packing and handling is at the Buyer's risk. Sotheby's will not be liable for any acts or omissions of third party packers or shippers.
(f) The Buyer of any firearm is solely responsible for obtaining all valid firearm or shotgun certificates or certificates of registration as a firearms dealer, as may be required by the regulations in force in England and Wales or Scotland (as applicable) relating to firearms or other weapons at the time of the sale, and for complying with all such regulations, whether or not notice of such is published in the Sale Catalogue. Sotheby's will not deliver a firearm to a Buyer unless the Buyer has first supplied evidence to Sotheby's satisfaction of compliance with this Condition.
8. REMEDIES FOR NON-PAYMENT
Without prejudice to any rights the Seller may have, if the Buyer without prior agreement fails to make payment for the lot within five days of the auction, Sotheby's may in its sole discretion (having informed the Seller) exercise one or more of the following remedies:
(a) store the lot at its premises or elsewhere at the Buyer's sole risk and expense;
(b) cancel the sale of the lot;
(c) set off any amounts owed to the Buyer by a Sotheby's Company against any amounts owed to Sotheby's by the Buyer in respect of the lot;
(d) apply any payments made to Sotheby's by the Buyer as part of the Purchase Price and Buyer's expenses towards that or any other lot purchased by the Buyer, or to any shortfall on the resale of any lot pursuant to paragraph (h) below, or to any damages suffered by Sotheby's as a result of breach of contract by the Buyer;
(e) reject future bids from the Buyer or render such bids subject to payment of a deposit;
(f) charge interest at 6% per annum above HSBC Bank plc Base Rate from the Due Date to the date the Purchase Price and relevant Buyer's Expenses are received in cleared funds;
(g) exercise a lien over any of the Buyer's property which is in the possession of a Sotheby's Company. Sotheby's shall inform the Buyer of the exercise of any such lien and within 14 days of such notice may arrange the sale of such property and apply the proceeds to the amount owed to Sotheby's;
(h) resell the lot by auction or private sale, with estimates and reserves at Sotheby's discretion. In the event such resale is for less than the Purchase Price and Buyer's Expenses for that lot, the Buyer will remain liable for the shortfall together with all costs incurred in such resale;
(i) commence legal proceedings to recover the Purchase Price and Buyer's Expenses for that lot, together with interest and the costs of such proceedings on a full indemnity basis; or
(j) release the name and address of the Buyer to the Seller to enable the Seller to commence legal proceedings to recover the amounts due and legal costs. Sotheby's will take reasonable steps to notify the Buyer prior to releasing such details to the Seller.
9. FAILURE TO COLLECT PURCHASES
(a) If the Buyer pays the Purchase Price and Buyer's Expenses but fails to collect a purchased lot within thirty (30) calendar days of the auction, the lot will be stored at the Buyer's expense (and risk) at Sotheby's or with a third party.
(b) If a purchased lot is paid for but not collected within six months of the auction, the Buyer authorises Sotheby's, having given notice to the Buyer, to arrange a resale of the item by auction or private sale, with estimates and reserves at Sotheby's discretion. The proceeds of such sale, less all costs incurred by Sotheby's, will be forfeited unless collected by the Buyer within two years of the original auction.
10. EXPORT AND PERMITS
It is the Buyer's sole responsibility to identify and obtain any necessary export, import, firearm, endangered species or other permit for the lot. Any symbols or notices in the sale catalogue reflect Sotheby's reasonable opinion at the time of cataloguing and offer Bidders general guidance only. Without prejudice to Conditions 3 and 4 above, Sotheby's and the Seller make no representations or warranties as to whether any lot is or is not subject to export or import restrictions or any embargoes. The denial of any permit or licence shall not justify cancellation or rescission of the sale contract or any delay in payment.
11. GENERAL
(a) All images and other materials produced for the auction are the copyright of Sotheby's, for use at Sotheby's discretion.
(b) Notices to Sotheby's should be in writing and addressed to the department in charge of the sale, quoting the reference number specified at the beginning of the sale catalogue. Notices to Sotheby's clients shall be addressed to the last address formally notified by them to Sotheby's.
(c) Should any provision of these Conditions of Business be held unenforceable for any reason, the remaining provisions shall remain in full force and effect.
(d) These Conditions of Business are not assignable by any Buyer without Sotheby's prior written consent, but are binding on Buyers' successors, assigns and representatives. No act, omission or delay by Sotheby's shall be deemed a waiver or release of any of its rights.
(e) The Contracts (Rights of Third Parties) Act 1999 is excluded by these Conditions of Business and shall not apply to any contract made pursuant to them.
(f) The materials listed in Condition 1(a) above set out the entire agreement and understanding between the parties with respect to the subject matter hereof. It is agreed that, save in respect of liability for fraudulent misrepresentation, no party has entered into any contract pursuant to these terms in reliance on any representation, warranty or undertaking which is not expressly referred to in such materials.
12. DATA PROTECTION
Sotheby's will use information provided by its clients (or which Sotheby's otherwise obtains relating to its clients) for the provision of auction and other art-related services, loan and insurance services, client administration, marketing and otherwise to manage and operate its business, or as required by law. This will include information such as the client's name and contact details, proof of identity, financial information, records of the client's transactions, and preferences. Some gathering of information about Sotheby's clients will take place using technical means to identify their preferences in order to provide a higher quality of service to them. Sotheby's may also disclose the client information to other Sotheby's Companies and/or third parties acting on their behalf to provide services for these purposes listed above.
Sometimes, Sotheby's may also disclose this information to carefully selected third parties for their own marketing purposes. If you do not wish your details to be used for this purpose, please email [email protected].
If the client provides Sotheby's with information that is defined by European data protection laws as "sensitive", the client agrees that it may be used for the purposes set out above.
In the course of these disclosures, personal data collected in the European Economic Area may be disclosed to countries outside the European Economic Area. Although such countries may not have legislation that protects a client's personal information, Sotheby's shall take reasonable steps to keep such information secure and in accordance with European data protection principles. By agreeing to these Conditions of Business, the client is agreeing to such disclosure.
Please be aware that Sotheby's may film auctions or other activities on Sotheby's premises and that such recordings may be transmitted over the Internet via Sotheby's website. Telephone bids may be recorded.
Under European data protection laws, a client may object, by request and free of charge, to the processing of their information for certain purposes, including direct marketing, and may access and rectify personal data relating to them and may obtain more information about Sotheby's data protection policies by writing to Sotheby's, 34-35 New Bond Street, London W1A 2AA, or 1334 York Avenue, New York, NY 10021, Attn: Compliance, or emailing: [email protected].
13. LAW AND JURISDICTION
Governing Law These Conditions of Business and all aspects of all matters, transactions or disputes to which they relate or apply (including any online bids in the sale to which these Conditions apply) shall be governed by and interpreted in accordance with English law.
Jurisdiction For the benefit of Sotheby's, all Bidders and Sellers agree that the Courts of England are to have exclusive jurisdiction to settle all disputes arising in connection with all aspects of all matters or transactions to which these Conditions of Business relate or apply. All parties agree that Sotheby's shall retain the right to bring proceedings in any court other than the Courts of England.
Service of Process All Bidders and Sellers irrevocably consent to service of process or any other documents in connection with proceedings in any court by facsimile transmission, personal service, delivery by mail or in any other manner permitted by English law, the law of the place of service or the law of the jurisdiction where proceedings are instituted, at the last address of the Buyer or Seller known to Sotheby's or any other usual address.


SOTHEBY'S GREENFORD PARK STORAGE AND COLLECTION INFORMATION

Smaller items can normally be collected from New Bond Street, however large items may be sent to Sotheby's Greenford Park Fine Art Storage Facility. If you are in doubt about the location of your purchases please contact the Sale Administrator (see front of catalogue) prior to collection.

COLLECTION FROM NEW BOND STREET

Lots will be released to you or your authorised representative when full and cleared payment has been received by Sotheby's, together with settlement of any removal, interest, handling and storage charges thereon, appropriate identification has been provided and a release note has been produced by our Post Sale Service Group at New Bond Street, who are open Monday to Friday 9.00am to 5.00pm.
Any purchased lots that have not been collected within 30 days from the date of the auction will be subject to handling and storage charges at the rates set out below. In addition all purchased lots that have not been collected from our New Bond Street premises within 90 days of the auction will be transferred to Sotheby's Greenford Park Fine Art Storage Facility.
Collect your property from:
Sotheby's Property Collection
Opening hours:
Monday to Friday 9.00am to 5.00pm
34-35 New Bond Street
London, W1A 2AA
Tel: +44 (0)20 7293 5358
Fax: +44 (0)20 7293 5933

COLLECTION FROM SOTHEBY'S GREENFORD PARK FINE ART STORAGE FACILITY

Lots will be released to you or your authorised representative when full and cleared payment has been received by Sotheby's, together with settlement of any removal, interest, handling and storage charges thereon, appropriate identification has been provided and a release note has been produced by our Post Sale Service Group at New Bond Street, who are open Monday to Friday 9.00am to 5.00pm.
Purchasers must ensure that their payment has been cleared prior to collection and that a release note has been forwarded to Sotheby's Greenford Park by our Post Sale Service Group at Sotheby's New Bond Street. Buyers who have established credit arrangements with Sotheby's may collect purchases prior to payment, although a release note is still required from our Post Sale Service Group as above.
Any purchased lots that have not been collected within 30 days from the date of the auction will be subject to handling and storage charges at the rates set out below.
Collect your property from: Sotheby's Greenford Park Fine Art Storage Facility
Opening hours:
Monday to Friday 8.30am to 4.30pm
Sotheby's Greenford Park,
13 Ockham Drive, Greenford, Middlesex, UB6 0FD
Tel: +44 (0)20 7293 5600
Fax: +44 (0)20 7293 5625

ROUTE GUIDANCE TO SOTHEBY'S GREENFORD PARK FINE ART STORAGE FACILITY

From Bond Street head towards Regents Park, take the A40 Marylebone Road to Western Avenue. Take the exit off the A40 signposted Greenford A4127. At the roundabout take the third exit signposted Harrow and Sudbury, A4127 onto Greenford Road. Go under the railway bridge and at the traffic lights turn first left into Rockware Avenue. At the T Junction turn right onto Oldfield Lane North and then left into Ockham Drive. Stop at the security barrier and say you are visiting Sotheby's. Once cleared, travel 300 yards down the road and Unit 13 is situated on the left hand side.
STORAGE CHARGES
Any purchased lots that have not been collected within 30 days from the date of the auction will be subject to handling and storage charges at the following rates:
Small items (such as jewellery, watches, books or ceramics): handling fee of £20 per lot plus storage charges of £2 per lot per day.
Medium items (such as most paintings or small items of furniture): handling fee of £30 per lot plus storage charges of £4 per lot per day.
Large items (items that cannot be lifted or moved by one person alone): handling fee of £40 per lot plus storage charges of £8 per lot per day.
Oversized items (such as monumental sculptures): handling fee of £80 per lot plus storage charges of £10 per lot per day.
A lot's size will be determined by Sotheby's on a case by case basis (typical examples given above are for illustration purposes only).
All charges are subject to VAT, where applicable. All charges are payable to Sotheby's at our Post Sale Service Group in New Bond Street.
Storage charges will cease for purchased lots which are shipped through Sotheby's Shipping Logistics from the date on which we have received a signed quote acceptance from you.

LIABILITY FOR LOSS OR DAMAGE

Buyers are reminded that Sotheby's accepts liability for loss or damage to lots for a maximum period of thirty (30) calendar days after the date of the auction. Please refer to Condition 7 of the Conditions of Business for Buyers.

SOTHEBY'S AUTHENTICITY GUARANTEE

If Sotheby's sells an item which subsequently is shown to be a "counterfeit", subject to the terms below Sotheby's will set aside the sale and refund to the Buyer the total amount paid by the Buyer to Sotheby's for the item, in the currency of the original sale.
For these purposes, "counterfeit" means a lot that in Sotheby's reasonable opinion is an imitation created to deceive as to authorship, origin, date, age, period, culture or source, where the correct description of such matters is not reflected by the description in the catalogue (taking into account any Glossary of Terms). No lot shall be considered a counterfeit by reason only of any damage and/or restoration and/or modification work of any kind (including repainting or over-painting).
Please note that this Guarantee does not apply if either:
(i) the catalogue description was in accordance with the generally accepted opinion(s) of scholar(s) and expert(s) at the date of the sale, or the catalogue description indicated that there was a conflict of such opinions; or
(ii) the only method of establishing at the date of the sale that the item was a counterfeit would have been by means of processes not then generally available or accepted, unreasonably expensive or impractical to use; or likely to have caused damage to the lot or likely (in Sotheby's reasonable opinion) to have caused loss of value to the lot; or
(iii) there has been no material loss in value of the lot from its value had it been in accordance with its description.

This Guarantee is provided for a period of five (5) years after the date of the relevant auction, is solely for the benefit of the Buyer and may not be transferred to any third party. To be able to claim under this Guarantee, the Buyer must:
(i) notify Sotheby's in writing within three (3) months of receiving any information that causes the Buyer to question the authenticity or attribution of the item, specifying the lot number, date of the auction at which it was purchased and the reasons why it is thought to be counterfeit; and
(ii) return the item to Sotheby's in the same condition as at the date of sale to the Buyer and be able to transfer good title in the item, free from any third party claims arising after the date of the sale.

Sotheby's has discretion to waive any of the above requirements. Sotheby's may require the Buyer to obtain at the Buyer's cost the reports of two independent and recognised experts in the field, mutually acceptable to Sotheby's and the Buyer. Sotheby's shall not be bound by any reports produced by the Buyer, and reserves the right to seek additional expert advice at its own expense. In the event Sotheby's decides to rescind the sale under this Guarantee, it may refund to the Buyer the reasonable costs of up to two mutually approved independent expert reports.
4/08 NBS_GUARANTEE MAIN


IMPORTANT NOTICES

ESTIMATES IN EUROS AND US DOLLARS

As a guide to potential buyers, estimates for this sale are also shown in Euros and US Dollars. The estimates printed in the catalogue in Pounds Sterling have been converted at the following rate, which was current at the time of printing. These estimates may have been rounded:
£1 = US$1.4509
£1 = €1.269
By the date of the sale this rate is likely to have changed, and buyers are recommended to check before bidding.
During the sale Sotheby's may provide a screen to show currency conversions as bidding progresses. This is intended for guidance only and all bidding will be in Pounds Sterling. Sotheby's is not responsible for any error or omissions in the operation of the currency converter.
Payment for purchases is due in Pounds Sterling, however the equivalent amount in any other currency will be accepted at the rate prevailing on the day that payment is received in cleared funds.
Settlement is made to vendors in the currency in which the sale is conducted, or in another currency on request at the rate prevailing on the day that payment is made by Sotheby's.

LIABILITY FOR LOSS OR DAMAGE FOR PURCHASED LOTS

Purchasers are requested to arrange clearance as soon as possible and are reminded that Sotheby's accepts liability for loss or damage to lots for a maximum period of thirty (30) calendar days following the date of the auction. Please refer to condition 7 of the Conditions of Business for Buyers.

COLLECTION OF LOTS MARKED 'W'

All purchased lots marked in the catalogue with a W will be transferred from the saleroom to Sotheby's Greenford Park Fine Art Storage Facility after 5 pm on the day of the sale. Collection can be made from Sotheby's Greenford Park two days after the sale, but not on the day immediately following the sale.
Exceptions to this procedure will be notified by auction room notice and announced at the time of the sale. After 30 days storage charges will commence.
Please see the Buying at Auction guide for further information.


SAFETY AT SOTHEBY'S

Sotheby's is concerned for your safety while you are on our premises and we endeavour to display items safely so far as is reasonably practicable. Nevertheless, should you handle any items on view at our premises, you do so at your own risk.
Some items can be large and/or heavy and can be dangerous if mishandled. Should you wish to view or inspect any items more closely please ask for assistance from a member of Sotheby's staff to ensure your safety and the safety of the property on view.
Some items on view may be labelled "PLEASE DO NOT TOUCH". Should you wish to view these items you must ask for assistance from a member of Sotheby's staff who will be pleased to assist you. Thank you for your co-operation.
11/10 NBS_NOTICE_€ & $US


GLOSSARY OF TERMS

The following are examples of the terminology used in this catalogue. Any statement as to authorship, attribution, origin, date, age, provenance and condition is a statement of opinion and is not to be taken as a statement of fact.
Please read carefully the terms of the Authenticity Guarantee and the Conditions of Business for Buyers set out in this catalogue, in particular Conditions 3 and 4.
1. GIOVANNI BELLINI
In our opinion a work by the artist. (When the artist's forename(s) is not known, a series of asterisks, followed by the surname of the artist, whether preceded by an initial or not, indicates that in our opinion the work is by the artist named.
2. ATTRIBUTED TO GIOVANNI BELLINI
In our opinion probably a work by the artist but less certainty as to authorship is expressed than in the preceding category.
3. STUDIO OF GIOVANNI BELLINI
In our opinion a work by an unknown hand in the studio of the artist which may or may not have been executed under the artist's direction.
4. CIRCLE OF GIOVANNI BELLINI
In our opinion a work by an as yet unidentified but distinct hand, closely associated with the named artist but not necessarily his pupil.
5. STYLE OF............; FOLLOWER OF GIOVANNI BELLINI
In our opinion a work by a painter working in the artist's style, contemporary or nearly contemporary, but not necessarily his pupil.
6. MANNER OF GIOVANNI BELLINI
In our opinion a work in the style of the artist and of a later date.
7. AFTER GIOVANNI BELLINI
In our opinion a copy of a known work of the artist.
8. The term signed and/or dated and/or inscribed means that in our opinion the signature and/or date and/or inscription are from the hand of the artist.
9. The term bears a signature and/or date and/or inscription means that in our opinion the signature and/or date and/or inscription have been added by another hand.
10. Dimensions are given height before width
1/03 NBS_GLOS_OMP
In recognition of the high standards of business administration and our compliance with all required customs protocols and procedures, Sotheby's UK
has been awarded the European Union Authorised Economic Operator status by Her Majesty's Revenue and Customs.
Sotheby's UK is committed to improving its sustainability, conserving resources and reducing the environmental impact of its various operations. A copy of Sotheby's Environmental Policy is available on request. Main Enquiries: +44 (0)20 7293 5000.
Photography
Brian Watt
Catalogue Designer
James Davis
Colour Editor
James Stabler
Production Controller
Emilie Ludot


INTERNATIONAL DEPARTMENTS

For a full listing of our offices and salerooms worldwide with detailed information on all of Sotheby's services, visit sothebys.com
OLD MASTER PAINTINGS
London
Alexander Bell
George Gordon
Arabella Chandos
Andrew Fletcher
Cecilia Treves
Chloe Stead
Georgina Eliot
Alice Herford
+44 (0)20 7293 6414
PRIVATE TREATY SALES
James Macdonald
+44 (0)20 7293 5887
New York
George Wachter
Christopher Apostle
Edoardo Roberti
Andrea Kust
Beatrice Stern
Calvine Harvey
David Pollack
Jonquil O'Reilly
+1 212 606 7230
Amsterdam
Judith Niessen
+31 20 550 2203
Brussels
Marianna Lora
+322 627 7187


Paris
Pierre Etienne
Lucia Mestre
+33 1 5305 53 26
Madrid
Marta Oliden
+34 91 576 5714
Milan
Alberto Chiesa
+39 02 2950 0207
Monaco
Mark Armstrong
+37 7 9330 8880
Geneva
Emily Black
+41 22 908 4849
BRITISH PAINTINGS
London
Julian Gascoigne
David Moore-Gwyn (consultant)
+44 (0)20 7293 6414


BRITISH DRAWINGS, WATERCOLOURS AND PORTRAIT MINIATURES
London
Mark Griffith-Jones
+44 (0)20 7293 5083
OLD MASTER DRAWINGS
London & New York
Gregory Rubinstein
Cristiana Romalli
Claire Anderson
Alexander Faber
+44 (0)20 7293 6450
Paris
Pierre Etienne
Lucia Mestre
+33 1 5305 53 26
Amsterdam
Judith Niessen
+31 20 550 2203


FORTHCOMING AUCTIONS
A comprehensive calendar of international auctions, in addition to all sale results, can be viewed at sothebys.com
OLD MASTERS EVENING SALE
7 December 2016
London

OLD MASTERS DAY SALE
8 December 2016
London

OLD MASTERS
January 2017
New York

INDEX
Aelst 153
Anesi 192
Antwerp School 126

Backhuysen 158
Baldrighi 201
Bastarolo 167
Batoni 190
Beerstraaten 152
Bigg 219
Bloemaert 121
Bosschaert 125
Bray 140
Brueghel 119
Brunswick Monogrammist 116

Camuccini 206
Carreño 180
Castilian School 163
Catena 165
Cleve 104
Coecke van Aelst 106
Colson 204
Conca 189
Constable 218
Crespi 170

Dael 213
Dou 123
Duck 136
Dutch or English School 145
Dyck 127

Ferg 144
Ferneley 217
Florentine School 174, 179
Francken 117

Gainsborough 209
Garofalo 164
Gassel 101
Gerung 107
Goya 194
Gramatica 169
Greco 183
Greuze 205
Grimmer 108
Guardi 200
Gundelach 118

Hamen 181
Hanneman 128
Heusch 141
Hickey 214


Italian School 173

Janneck 193
Joli 199

Kauffmann 202
Kessel 132
Key 111
Kraen 133

Lacroix 197
Landseer 220
Lely 115
Lopez 184

Maes 137
Maratta 187
Martin 207
Massys 103
Master of Sainte Gudule 105
Master of the Prodigal Son 109
Molenaer 151
Morland 215
Morone 161
Mulier 154

Oosten 124
Oudry 196

Palamedesz 159
Parra 182
Peake 110
Peroni 188
Piombo 168
Polo 186
Ponce 185
Pozzoserrato 166
Priwitzer 113

Raeburn 211, 212
Rembrandt 130
Reni 171
Ribera 177
Rigaud 203
Ring 150
Rotius 135
Rubens 129

Sassoferrato 178
Schedoni 176
Schütz 191
Seeman 208
Sirani 172
Son 134
Sonjé 148
Steen 138

Teniers 160
Thulden 122
Tintoretto 175

Uyl 149

Valckenborch 102
Valckert 143
Veerendael 156
Velde 157
Verbeeck 147
Vernet 195, 198
Vitringa 155
Walker 112, 114
Ward 216
Weenix 139
Wijnen 131
Willaerts 146
Wootton 210
Wouwerman 142
Wtewael 120
Zanino 162


WHAT INFORMATION COLLECTED ON THE SOTHEBY'S ON INVALUABLE ONLINE PLATFORM DOES SOTHEBY'S RECEIVE FROM INVALUABLE

User-Provided Information
Invaluable collects Personal Information about Invaluable users who register and/or bid via the Sotheby's on Invaluable Online Platform and may share that information with Sotheby's. Invaluable may collect such Personal information, for example, through users' activities, transactions and completion of online forms on the Platform. Such information is collected, for example, when users register to bid, place bids, are successful in purchasing at auction, submit a comment or question to Invaluable, contact Invaluable or Sotheby's for customer service or use any similar "contact us" feature, send Sotheby's or Invaluable an email, or in any other way submit Personal Information to Invaluable related to their use of the Sotheby's on Invaluable Online Platform.

How is your Personal Information used
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Do we share Personal Information and Web Site Usage Information with others?
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Business Transfer
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If you have any questions or comments regarding our privacy practices or wish to verify or change the information in our files, you may contact us at [email protected]. You may also send mail to us with any comments, questions or concerns at:

Sotheby's.
1334 York Avenue
New York, New York 10021
Attention: Data Quality Department
Last Modified: March 15, 2016

Auction Details

Fine Art

by
John Nicholson's Fine Art Auctioneers & Valuers
May 03, 2017, 12:00 PM GMT

Longfield, Midhurst Road Fernhurst, Haslemere, SRY, GU27 3HA, UK

Terms

Buyer's Premium

27.0%

Bidding Increments

From:To:Increment:
£0£99£5
£100£199£10
£200£499£20
£500£999£50
£1,000£1,999£100
£2,000£4,999£200
£5,000£9,999£500
£10,000£19,999£1,000
£20,000£49,999£2,000
£50,000£99,999£5,000
£100,000+£10,000

Terms and Conditions of Business

NOTE : VAT added to all charges

1/ I agree to abide by these terms of business and the conditions of sale as printed in the catalogue and displayed in the saleroom. (Catalogues are sent out approximately 7 days before each sale with the exception of Victorian and General Sales).

2/ Agency. John Nicholson Auctioneer (The Auctioneer)acts as agent for the Vendor. He will not be responsible for any default by the Vendor or Buyer.

3/ Warranty. The Auctioneer makes no warranty to the effect that the catalogue description is accurate. All statements are of opinion only, and neither the Auctioneer nor hir employees or agents will be responsible for the accuracy of any opinion given.

4/ Title. The Vendor warrants to the Auctioneer and the Buyer that he has good title to each lot, and indemnifies the Auctioneer against any such defect.

5/ Damage. The Auctioneer will not be liable for damage to glass or picture frames, nor cleavage of stones (jewellery). Any other damage claim shall be settled at the Auctioneer's discretion provided that the Vendor has availed himself/herself of the Auctioneer's insurance.

6/ Rescission. Notwithstanding Paragraph No.3, if the buyer makes a justified claim to rescind a sale on the basis that the lot in question is a deliberate forgery, after taking expert advice, the Auctioneer may refund to the buyer the amount paid, and recover such monies from the Vendor if he/she have been paid out.

7/ Commission and Expenses. The Auctioneer shall be entitled to deduct commission at the stated rates and any other expenses including cartage from the hammer price. The Vendor acknowledges the Auctioneer's right to retain the Buyer's Premium.

8/ VAT . If any lot is an asset of the Vendor's business, the Vendor must notify the Auctioneer whether he is registered for VAT. He is to record his VAT number on the Entry Form and notify the auctioneer if he/she intends to operate the VAT Used Goods Scheme (Special Scheme).

9/ Withdrawal of lots. The vendor is entitled to withdraw any lot up to the point of sale. TheAuctioneer will charge a withdrawal fee of 5% of the reserve price (or lower estimate if no reserve has been set) on any lot withdrawn after the catalogue has been produced.

10/ Reserves. The Vendor has the right to place a reserve on any lot. This should be entered on the 'Entry Form' and agreed with the Auctioneer. Where 'discretion' is agreed, the Auctioneer may sell the lot up to 10% below the reserve price. Otherwise all lots will be sold without reserve.

11/ Payment. The Auctioneer shall pay the net sale proceeds to the Vendor 28 (working) days of the final day of the sale, unless the Buyer has failed to pay the Purchase Price. In this case the Auctioneer shall notify the Vendor accordingly and will agree with the Vendor to a) rescind the sale or b) take such legal steps as are necessary to recover the monies from the Buyer.

12/ Consumer Protection Act 1987/Furniture and /Furnishings (Fire Safety) Regulations 1988. Goods which do not satisfy the safety regulations set out in the above acts cannot be accepted for sale.

13/ All transactions shall be governed by English law.
Any Potential Buyers Bidding on Lots to a Value of over £5000 must obtain prior authorisation from John Nicholson before attempting to Bid in the Auctions. A deposit may be required in advance of the sale to secure the right to bid. This deposit will be offset against any successful bids. (Any surplus funds will be refunded)

Conditions of Sale

14/ John Nicholson (called the Auctioneer) acts in all respects, only as agent for the seller of each lot.

15/ The highest bidder acceptable to the Auctioneer shall be the buyer at the hammer price and any dispute shall be settled at the Auctioneers absolute discretion. He may immediately put up the lot again for sale.

16/ The Auctioneer has the right at his absolute discretion to refuse any bid and to advance the bidding as he may decide.

17/ Warranty of Title
(a) The seller warrants to John Nicholson and to the Buyer that he/she is the true owner of the property or is properly authorised to sell the property by the true owner and is free from any third party claim.
(b) The seller will indemnify John Nicholson, his employees and agents and the Buyer against any loss suffered by breach of (a).

18/
(a) The seller shall be entitled to place a reserve on any lot, and the Auctioneer shall have the right to bid on behalf of the seller for any lot on which a reserve price has been placed.
(b) The Auctioneer may at his absolute discretion withdraw or divide any lot or combine any two or more lots.

19/
(a) All statements in the catalogues, brochures and advertising are statements of opinion and are not , nor are they to be relied upon as statements or representations of fact.
Intending purchasers must satisfy themselves of all faults, imperfections and errors of description.
Illustrations in catalogues are for the purpose of identification only.
(b) Neither the seller, John Nicholson nor any person in his employ may, or have any authority to, make any representation of warranty, authorship, origin, date, age attribution, genuineness, provenance, errors of description, faults or defects.

20/ Payment
(a) The purchase price payable by the buyer shall be the aggregate of the final bid plus 24% buyers premium together with any VAT chargeable. For Online bidding the Buyers premium is increased to account for bidding platform provider charge. This increased premium is also subject to VAT at the prevailing rate.
(b) Payment must be made in one of the following methods.
i. Cash (In person only)
ii. Cheque , accepted but only on proof of cleared funds will purchases be released.
iii. Bank Transfer,
iv. Debit or Credit Cards, please note credit cards attract a surcharge of 2%. All Card payments are limited for non-attendance payment to £1000 (this is per sale and is not negotiable). Division of purchased lots for the purpose of reducing to below £1000 will not be accepted. More than one card may not be used for payment. Cards presented in person using the 'Chip & PIN' system will be accepted for any value subject to all the card issuer criteria being met.

Immediately a lot is Sold the Buyer Shall:
21/
(a) Give to John Nicholson his name and full address and if so requested proof of identity.
(b) Pay to John Nicholson the total amount due (unless credit terms and references have been agreed with John Nicholson before the auction).
(c) If the Buyer fails to pay for any lot in full John Nicholson shall be entitled to at his absolute discretion and without prejudice exercise any of the following remedies:-
(i) Without notice to the buyer resell any lot by auction or private treaty, any deficiency between the purchase price and the resale to be made good by the defaulting Buyer and surplus (after retention of the premium0 to the sellers.
(ii) To store the lot or cause it to be stored at the sole expense of the buyer and to release the lot only after full payment of the purchase price, cost of removal, storage at cost, plus insurance and any other costs incurred in connection with the lot.
(iii) To charge interest at a rate of 3% per month,(minimum charge one month) on the purchase price from the date of sale if it remains unpaid for more than 7 days from the date of sale.

22/ The property in a lot shall not pass to the buyer until the purchase price has been paid in full, plus any charges in clauses (i), (ii), & (iii), but the lot shall be at the buyers risk in all respects from the fall of the hammer. Notwithstanding that John Nicholson acts only as agent for the seller, he shall be entitled to retain the premium referred to in condition 20 (a) herof irrespective of and in addition to such remuneration as he may receive from the seller. John Nicholson shall be entitled to a lien on any lot sold until the purchase price and any expenses are paid in full by the buyer.

Shipping Terms

BUYING AT AUCTION

The following pages are designed to give you useful information on how to buy at auction. Sotheby's staff as listed at the front of this catalogue will be happy to assist you. However, it is important that you read the following information carefully and note that Sotheby's acts for the seller; you should refer in particular to Conditions 3 and 4 of the Conditions of Business for Buyers printed in this catalogue. Prospective bidders should also consult www.sothebys.com for the most up to date cataloguing of the property in this catalogue.
Buyer's Premium A buyer's premium will be added to the hammer price and is payable by the buyer as part of the total purchase price. The buyer's premium is 25% of the hammer price up to and including £100,000, 20% of any amount in excess of £100,000 up to and including £1,800,000, and 12% of any amount in excess of £1,800,000.
1. BEFORE THE AUCTION
Catalogue Subscriptions If you would like to take out a catalogue subscription, please ring +44 (0)20 7293 5000.
Pre-sale Estimates Pre-sale estimates are intended as a guide for prospective buyers. Any bid between the high and low pre-sale estimates would, in our opinion, offer a chance of success. However, lots can realise prices above or below the pre-sale estimates.
It is advisable to consult us nearer the time of sale as estimates can be subject to revision. The estimates printed in the auction catalogue do not include the buyer's premium or VAT.
Pre-sale Estimates in US Dollars and Euros Although the sale is conducted in pounds sterling, the pre-sale estimates in some catalogues are also printed in US dollars and/or euros. The rate of exchange is the rate at the time of production of this catalogue. Therefore, you should treat the estimates in US dollars or euros as a guide only.
Condition of Lots Prospective buyers are encouraged to inspect the property at the pre-sale exhibitions. Solely as a convenience, Sotheby's may also provide condition reports. The absence of reference to the condition of a lot in the catalogue description does not imply that the lot is free from faults or imperfections. Please refer to Condition 3 of the Conditions of Business for Buyers printed in this catalogue.
Electrical and Mechanical Goods All electrical and mechanical goods are sold on the basis of their artistic and decorative value only, and should not be assumed to be operative. It is essential that prior to any intended use, the electrical system is checked and approved by a qualified electrician.
Provenance In certain circumstances, Sotheby's may print in the catalogue the history of ownership of a work of art if such information contributes to scholarship or is otherwise well known and assists in distinguishing the work of art. However, the identity of the seller or previous owners may not be disclosed for a variety of reasons. For example, such information may be excluded to accommodate a seller's request for confidentiality or because the identity of prior owners is unknown given the age of the work of art.
2. DURING THE AUCTION
Conditions of Business The auction is governed by the Conditions of Business and Authenticity Guarantee. These apply to all aspects of the relationship between Sotheby's and actual and prospective bidders and buyers. Anyone considering bidding in the auction should read them carefully. They may be amended by way of notices posted in the saleroom or by way of announcement made by the auctioneer.
Bidding at Auction Bids may be executed in person by paddle during the auction, in writing prior to the sale, by telephone or by BIDnow.
Auction speeds vary, but average between 50 and 120 lots per hour. The bidding steps are generally in increments of approximately 10% of the previous bid.
Please refer to Conditions 5 and 6 of the Conditions of Business for Buyers printed in this catalogue.
Bidding in Person To bid in person, you will need to register for and collect a numbered paddle before the auction begins. Proof of identity will be required. If you have a Sotheby's Client Card, it will facilitate the registration process.
Should you be the successful buyer of a lot, please ensure that your paddle can be seen by the auctioneer and that it is your number that is called out. Should there be any doubts as to price or buyer, please draw the auctioneer's attention to it immediately.
All lots sold will be invoiced to the name and address in which the paddle has been registered and cannot be transferred to other names and addresses.
Please do not mislay your paddle; in the event of loss, inform the Sales Clerk immediately. At the end of the sale, please return your paddle to the registration desk.
Absentee, Telephone and Internet Bids If you cannot attend the auction, we will be happy to execute written bids on your behalf or you can bid on the telephone for lots with a minimum low estimate of £3,000 or you can bid online using BIDnow. A bidding form and more information can be found at the back of this catalogue.
Online Bidding via BIDnow If you cannot attend the auction, it may be possible to bid online via BIDnow for selected sales. This service is free and confidential. For information about registering to bid via BIDnow, please refer to sothebys.com. Bidders using the BIDnow service are subject to the Additional Terms and Conditions for Live Online Bidding via BIDnow, which can be viewed at sothebys.com, as well as the Conditions of Business applicable to the sale.
Consecutive and Responsive Bidding The auctioneer may open the bidding on any lot by placing a bid on behalf of the seller. The auctioneer may further bid on behalf of the seller, up to the amount of the reserve, by placing consecutive or responsive bids for a lot. Please refer to Condition 6 of the Conditions of Business for Buyers printed in this catalogue.
Interested Parties Announcement In situations where a person who is allowed to bid on a lot has a direct or indirect interest in such lot, such as the beneficiary or executor of an estate selling the lot, a joint owner of the lot, or a party providing or participating in a guarantee of the lot, Sotheby's will make an announcement in the saleroom that interested parties may bid on the lot. In certain instances, interested parties may have knowledge of the reserves.
Employee Bidding Sotheby's employees may bid only if the employee does not know the reserve and fully complies with Sotheby's internal rules governing employee bidding.
US Economic Sanctions The United States maintains economic and trade sanctions against targeted foreign countries, groups and organiszations. There may be restrictions on the import into the United States of certain items originating in sanctioned countries, including Burma, Cuba, Iran, North Korea and Sudan. The purchaser's inability to import any item into the US or any other country as a result of these or other restrictions shall not justify cancellation or rescission of the sale or any delay in payment. Please check with the specialist department if you are uncertain as to whether a lot is subject to these import restrictions, or any other restrictions on importation or exportation.
3. AFTER THE AUCTION
Payment Payment is due immediately after the sale and may be made by the following methods: Sterling wire transfer, Sterling cheque, Sterling cash, UK debit card. Payment may also be made by Visa, MasterCard and non-UK debit card subject to a 1.2% surcharge, and by American Express and CUP subject to a 1.75% surcharge.
• It is against Sotheby's general policy to accept single or multiple related payments in the form of cash or cash equivalents in excess of the local currency equivalent of US$10,000.
• It is Sotheby's policy to request any new clients or buyers preferring to make a cash payment to provide: proof of identity (by providing some form of government issued identification containing a photograph, such as a passport, identity card or driver's licence) and confirmation of permanent address. Thank you for your co-operation.
Cheques should be made payable to Sotheby's. Although personal and company cheques drawn in pounds sterling on UK banks are accepted, you are advised that property will not be released until such cheques have cleared unless you have a pre-arranged Cheque Acceptance Facility. Forms to facilitate this are available from the Post Sale Services Department.
Bank transfers Our bank account details are shown on our invoices. Please include your name, Sotheby's account number and invoice number with your instructions to your bank. Please note that we reserve the right to decline payments received from anyone other than the buyer of record and that clearance of such payments will be required. Please contact our Post Sale Services Department if you have any questions concerning clearance.
Card payments below £30,000 (excluding CUP), can be made remotely by completing our Absentee Card Payment Form. For further details please contact the Post Sale Services Department on +44 (0)20 7293 5220.
We reserve the right to seek identification of the source of funds received.
The Conditions of Business require buyers to pay immediately for their purchases. However, in limited circumstances and with the seller's agreement, Sotheby's may grant buyers it deems creditworthy the option of paying for their purchases on an extended payment term basis. Generally credit terms must be arranged prior to the sale. In advance of determining whether to grant the extended payment terms, Sotheby's may require credit references and proof of identity and residence.
Collection It is Sotheby's policy to request proof of identity on collection of a lot. Lots will be released to you or your authorised representative when full and cleared payment has been received by Sotheby's. If you are in doubt about the location of your purchases, please contact the Sale Administrator prior to arranging collection. Removal, storage and handling charges may be levied on uncollected lots. Please refer to Condition 7 of the Conditions of Business for Buyers printed in this catalogue.
Storage Storage and handling charges may apply. For information concerning post sale storage and charges, please see Sotheby's Greenford Park, Storage and Collection Information at the back of this catalogue. Please refer to Condition 7 of the Conditions of Business for Buyers printed in this catalogue.
All purchases remaining at our New Bond Steet premises 90 days after the sale will be transferred to Sotheby's Greenford Park Fine Art Storage (see Sotheby's Greenford Park, Storage and Collection information). All such purchases will be subject to further storage and handling charges from this point.
Loss or Damage Buyers are reminded that Sotheby's accepts liability for loss or damage to lots for a maximum period of thirty (30) days after the date of the auction. Please refer to Condition 7 of the Conditions of Business for Buyers printed in this catalogue.
Shipping Sotheby's offers a comprehensive shipping service. Except if otherwise indicated in this Buying At Auction Guide, our Shipping Department can advise buyers on exporting and shipping property, and arranging delivery.
For assistance please contact:
Post Sale Services (Mon-Fri 9am to 5 pm)
Tel +44 (0)20 7293 5220
Fax +44 (0)20 7293 5910
Email: [email protected]
We will send you a quotation for shipping your purchase(s). Transit risk insurance may also be included in your quotation. If the quotation is accepted, we will arrange the shipping for you and will despatch the property as soon as possible after receiving your written agreement to the terms of the quotation, financial release of the property and receipt of any export licence or certificates that may be required. Despatch will be arranged at the buyer's expense. Sotheby's may charge an administrative fee for arranging the despatch.
All shipments should be unpacked and checked on delivery and any discrepancies notified immediately to the party identified in your quotation and/or the accompanying documentation.
Export The export of any lot from the UK or import into any other country may be subject to one or more export or import licences being granted. It is the buyer's responsibility to obtain any relevant export or import licence. The denial of any licence required or delay in obtaining such licence cannot justify the cancellation of the sale or any delay in making payment of the total amount due.
Sotheby's, upon request and for an administrative fee, may apply for a licence to export your lot(s) outside the UK
• An EU Licence is necessary to export cultural goods subject to the EU Regulation on the export of cultural property (EEC No. 3911/92, Official Journal No. L395 of 31/12/92) from the European Community.
• A UK Licence is necessary to move cultural goods valued at or above the relevant UK Licence limits from the UK.
For export outside the European Community, an EU Licence will be required for most items over 50 years of age with a value of over £39,219. The following is a selection of categories of items for which other value limits apply and for which an EU Licence may be required. It is not exhaustive and there are other restrictions.
EU Licence Thresholds
Archaeological objects
EU LICENCE THRESHOLD: ZERO
Elements of artistic, historical or religious
monuments
EU LICENCE THRESHOLD: ZERO
Manuscripts, documents and archives
(excluding printed matter)
EU LICENCE THRESHOLD: ZERO
Architectural, scientific and engineering drawings produced by hand
EU LICENCE THRESHOLD: £11,766
Photographic positive or negative or any
assemblage of such photographs
EU LICENCE THRESHOLD: £11,766
Textiles (excluding carpets and tapestries)
EU LICENCE THRESHOLD: £39,219
Paintings in oil or tempera
EU LICENCE THRESHOLD: £117,657
Watercolours, gouaches and pastels
EU LICENCE THRESHOLD: £23,531
Prints, Engravings, Drawings and Mosaics
EU LICENCE THRESHOLD: £11,766
There are separate thresholds for exporting within the European Community. A UK Licence will be required for most items over 50 years of age with a value of over £65,000. Some exceptions are listed below:
UK Licence Thresholds
Photographic positive or negative or any
assemblage of such photographs
UK LICENCE THRESHOLD: £10,000
Textiles (excluding carpets and tapestries)
UK LICENCE THRESHOLD: £12,000
British Historical Portraits
UK LICENCE THRESHOLD: £10,000
Sotheby's recommends that you retain all import and export papers, including licences, as in certain countries you may be required to produce them to governmental authorities.
Endangered Species Items made of or incorporating plant or animal material, such as coral, crocodile, ivory, whalebone, tortoiseshell, etc., irrespective of age or value, may require a licence or certificate prior to exportation and require additional licences or certificates upon importation to any country outside the EU. Please note that the ability to obtain an export licence or certificate does not ensure the ability to obtain an import licence or certificate in another country, and vice versa. For example, it is illegal to import African elephant ivory into the United States and there are other restrictions on the importation of ivory into the US under certain US regulations which are designed to protect wildlife conservation.
Sotheby's suggests that buyers check with their own government regarding wildlife import requirements prior to placing a bid. It is the buyer's responsibility to obtain any export or import licences and/or certificates as well as any other required documentation (please refer to Condition 10 of the Conditions of Business for Buyers printed in this catalogue). Please note that Sotheby's is not able to assist buyers with the shipment of any lots containing ivory and/or other restricted materials into the US. A buyer's inability to export or import these lots cannot justify a delay in payment or a sale's cancellation.


EXPLANATION OF SYMBOLS

The following key explains the symbols you may see inside this catalogue.
http://www.sothebys.com/en/key-to-lots-symbols.html

Guaranteed Property
The seller of lots with this symbol has been guaranteed a minimum price from one auction or a series of auctions. This guarantee may be provided by Sotheby's or jointly by Sotheby's and a third party. Sotheby's and any third parties providing a guarantee jointly with Sotheby's benefit financially if a guaranteed lot is sold successfully and may incur a loss if the sale is not successful. If every lot in a catalogue is -guaranteed, the Important Notices in the sale catalogue will so state and this symbol will not be used for each lot.

Property in which Sotheby's has an Ownership Interest
Lots with this symbol indicate that Sotheby's owns the lot in whole or in part or has an economic interest in the lot equivalent to an ownership interest.

Irrevocable Bids
Lots with this symbol indicate that a party has provided Sotheby's with an irrevocable bid on the lot that will be executed during the sale. The irrevocable bidder, who may bid in excess of the irrevocable bid, will be compensated based on the final hammer price in the event he or she is not the successful bidder. If the irrevocable bidder is the successful bidder, he or she will be required to pay the full Buyer's Premium and will not be otherwise compensated. If the irrevocable bid is not secured until after the printing of the auction catalogue, a pre-lot announcement will be made indicating that there is an irrevocable bid on the lot.

Interested Parties
Lots with this symbol indicate that parties with a direct or indirect interest in the lot may be bidding on the lot, including (i) the beneficiary of an estate selling the lot, or (ii) the joint owner of a lot. If the interested party is the successful bidder, they will be required to pay the full Buyer's Premium. In certain instances, interested parties may have knowledge of the reserve. In the event the interested party's possible participation in the sale is not known until after the printing of the auction catalogue, a pre-lot announcement will be made indicating that interested parties may be bidding on the lot.

No Reserve
Unless indicated by a box (¡à), all lots in this catalogue are offered subject to a reserve. A reserve is the confidential hammer price established between Sotheby's and the seller and below which a lot will not be sold. The reserve is generally set at a percentage of the low estimate and will not exceed the low estimate for the lot. If any lots in the catalogue are offered without a reserve, these lots are indicated by a box (¡à). If all lots in the catalogue are offered without a reserve, a Special Notice will be included to this effect and the box symbol will not be used for each lot.

Property Subject to the Artist's Resale Right
Purchase of lots marked with this symbol (§]) will be subject to payment of the Artist's Resale Right, at a percentage of the hammer price calculated as follows:
Portion of the hammer price (in €)
Royalty Rate
From 0 to 50,000 4%
From 50,000.01 to 200,000 3%
From 200,000.01 to 350,000 1%
From 350,000.01 to 500,000 0.5%
Exceeding 500,000 0.25%

The Artist's Resale Right payable will be the aggregate of the amounts payable under the above rate bands, subject to a maximum royalty payable of 12,500 euros for any single work each time it is sold. The maximum royalty payable of 12,500 euros applies to works sold for 2 million euros and above. Calculation of the artist's resale right will be based on the pound sterling / Euro reference exchange rate quoted on the date of the sale by the European Central Bank.

Restricted Materials
Lots with this symbol have been identified at the time of cataloguing as containing organic material which may be subject to restrictions regarding import or export. The information is made available for the convenience of Buyers and the absence of the Symbol is not a warranty that there are no restrictions regarding import or export of the Lot; Bidders should refer to Condition 10 of the Conditions of Business for Buyers. Please also refer to the section on Endangered Species in the Buying at Auction Guide. As indicated in the Endangered Species section, Sotheby's is not able to assist buyers with the shipment of any lots with this symbol into the US.
A buyer's inability to export or import any lots with this symbol cannot justify a delay in payment or a sale's cancellation.

Monumental
Lots with this symbol may, in our opinion, require special handling or shipping services due to size or other physical considerations. Buyers are advised to inspect the lot and to contact Sotheby's prior to the sale to discuss any specific shipping requirements.
Please refer to VAT information for Buyers for VAT symbols used in this catalogue. Value Added Tax (VAT) may be payable on the hammer price and/or the buyer's premium. Buyer's premium may attract a charge in lieu of VAT. Please read carefully the "VAT INFORMATION FOR BUYERS" printed in this catalogue.


VAT AND OTHER TAX
INFORMATION FOR BUYERS

The following paragraphs are intended to give general guidance to buyers on the VAT and certain other potential tax implications of purchasing property at Sotheby's. The information concerns the most usual circumstances and is not intended to be complete. In all cases the relevant tax legislation takes precedence and the VAT rates in effect on the day of the auction will be the rates charged except for lots sold subject to Temporary Admission for which the applicable rate will be that in force at the time of collection. It should be noted that, for VAT purposes only, Sotheby's is not usually treated as an agent and most property is sold as if it is the property of Sotheby's.
In the following paragraphs, reference to VAT symbols shall mean those symbols located beside the lot number or the pre-sale estimates in the catalogue (or amending sale room notice).
1. PROPERTY WITH NO VAT SYMBOL
Where there is no VAT symbol, Sotheby's is able to use the Auctioneer's Margin Scheme and VAT will not normally be charged on the hammer price.
Sotheby's must bear VAT on the buyer's premium and hence will charge an amount in lieu of VAT at the standard rate on this premium. This amount will form part of the buyer's premium on our invoice and will not be separately identified. A limited range of goods, including most books, are not liable to VAT and therefore no amount in lieu of VAT will be added to the premium.
Please see 'Exports from the European Union' for the conditions to be fulfilled before the amount in lieu of VAT on the buyer's premium may be cancelled or refunded.
(VAT-registered buyers from within the European Union (EU) should note that the amount in lieu of VAT contained within the buyer's premium cannot be cancelled or refunded by Sotheby's or HM Revenue and Customs.)
Buyers requiring an invoice under the normal VAT rules, instead of a margin scheme invoice, should notify the Post Sale Service Group or the Client Accounts Department on the day of the auction and an invoice with VAT on the hammer price will be raised. Buyers requiring reinvoicing under the normal VAT rules subsequent to a margin scheme invoice having been raised should contact the Client Accounts Department for assistance.
2. PROPERTY WITH A ¢" SYMBOL
These items will be sold under the normal UK VAT rules and VAT will be charged at the standard rate on both the hammer price and buyer's premium.
Please see 'Exports from the European Union' for the conditions to be fulfilled before the VAT charged on the hammer price may be cancelled or refunded.
(VAT-registered buyers from other EU countries may have the VAT cancelled or refunded if they provide Sotheby's with their VAT registration number and evidence that the property has been removed from the UK within three months of the date of sale. The evidence of removal required is a certificate of shipment or, if the lots were carried by hand, proof of travel and completion of a form available from the Post Sale Service Group.
3. PROPERTY WITH A ¥á SYMBOL
Items sold to buyers whose address is in the EU will be assumed to be remaining in the EU. The property will be invoiced as if it had no VAT symbol (see 'Property with no VAT symbol' above). However, if the property is to be exported from the EU, Sotheby's will re-invoice the property under the normal VAT rules (see 'Property sold with a ¢" symbol' above) as requested by the seller.
Items sold to buyers whose address is outside the EU will be assumed to be exported from the EU. The property will be invoiced under the normal VAT rules (see 'Property sold with a ¢" symbol' above). Although the hammer price will be subject to VAT this will be cancelled or refunded upon export - see 'Exports from the European Union'. However, buyers who are not intending to export their property from the EU should notify our Client Accounts Department on the day of the sale and the property will be re-invoiced showing no VAT on the hammer price (see 'Property sold with no VAT symbol' above).
4. PROPERTY SOLD WITH A ¢' OR ¥Ø SYMBOL
These items have been imported from outside the EU to be sold at auction under Temporary Admission. When Sotheby's releases such property to buyers in the UK, the buyer will become the importer and must pay Sotheby's import VAT at the following rates on the hammer price:
¢' - the reduced rate
¥Ø - the standard rate
You should also note that the appropriate rate will be that in force on the date of collection of the property from Sotheby's and not that in force at the date of the sale.
These lots will be invoiced under the margin scheme. Sotheby's must bear VAT on the buyer's premium and hence will charge an amount in lieu of VAT at the standard rate on this premium. This amount will form part of the buyer's premium on our invoice and will not be separately identified.
(VAT-registered buyers from the EU should note that the import VAT charged on property released in the UK cannot be cancelled or refunded by Sotheby's, however you may be able to seek repayment) by applying to HM Revenue and Customs - see 'VAT Refunds from HM Revenue and Customs')
(VAT-registered buyers from the UK should note that the invoice issued by Sotheby's for these items is not suitable evidence in respect of import VAT.)
On request, immediately after sale, the Temporary Admission Department can either ask HM Revenue and Customs to generate a C79 certificate (for UK buyers), or obtain a copy of the import C88 (for other EU VAT registered buyers), which may be used to claim recovery of the VAT. Otherwise Sotheby's may re-invoice the lot as if it had been sold with a ¢" symbol and charge VAT at the standard rate on both the hammer price and premium and provide a tax invoice to the buyer. This may enable a buyer who is VAT registered elsewhere in the EU to avoid payment of VAT in the United Kingdom. Re-invoicing in this way may make the lot ineligible to be re-sold using the margin scheme.
Sotheby's will transfer all lots sold subject to Temporary Admission to its Customs warehouse immediately after sale.
5. EXPORTS FROM THE EUROPEAN UNION
The following amounts of VAT may be cancelled or refunded provided Sotheby's receive the appropriate export documents within the time limits stated:
Property with no VAT symbol (see paragraph 1)
The amount in lieu of VAT charged on Buyers Premium may be refunded provided the purchaser resides outside of the United Kingdom and the property is exported from the EU within 3 months of the sale. Sotheby's must be provided with the appropriate proof of export immediately after export of the goods.
Property with a ¢" symbol
The VAT charged upon the hammer price may be refunded provided the purchaser resides outside of the United Kingdom and the property is exported from the EU within 3 months of the sale. Sotheby's must be provided with the appropriate proof of export immediately after export of the goods.
Property with a ¢' or a ¥Ø symbol
The Temporary Admission VAT charged on the hammer price may be refunded under the following circumstances:
• Sotheby's is instructed to ship the property to a place outside the EU
• The property is hand carried from the UK directly outside the EU and Sotheby's pre lodge the export entry with HMRC
• The VAT liability is transferred to your shippers own Temporary Admission or Customs Warehouse arrangement prior to collection from Sotheby's
Under all other circumstances Sotheby's is required to complete the importation and pay the VAT due to HM Revenue and Customs prior to the property leaving its premises and so a VAT refund will not be possible.
Proof of export required
• for lots sold under the margin scheme (no VAT symbol) or the normal VAT rules (¢" symbol), Sotheby's is provided with appropriate documentary proof of export from the EU. Buyers carrying their own property should obtain hand-carry papers from the Shipping department to facilitate this process.
• for lots sold under Temporary Admission (¢' or ¥Ø symbols), and subsequently transferred to Sotheby's Customs Warehouse (into Bond). The property must be shipped as described above in the paragraph headed Property with a ¢' or a ¥Ø symbol.
• buyers carrying their own property must obtain hand-carry papers from the Shipping Department for which a small administrative charge will be made. The VAT refund will be processed once the appropriate paperwork has been returned to Sotheby's.
• Sotheby's is not able to cancel or refund any VAT charged on sales made to UK or EU private residents unless the lot is subject to Temporary Admission and the property is exported from the EU and the requisite export papers provided to Sotheby's within one month of collection of the property.
• Sotheby's is not able to cancel or refund any VAT charged on sales to UK or EU private residents unless the lot is subject to Temporary Admission and is shipped as described above.
Buyers intending to export, repair, restore or alter lots sold under Temporary Admission (¢' or ¥Ø symbols) and therefore transferred to Customs Warehouse after sale should notify the Shipping Department before collection. Failure to do so may result in the import VAT becoming payable immediately and Sotheby's being unable to refund the VAT charged on deposit.
6. VAT REFUNDS FROM HM REVENUE AND CUSTOMS
Where VAT charged cannot be cancelled or refunded by Sotheby's, it may be possible to seek repayment from HM Revenue and Customs. Repayments in this manner are limited to businesses located outside the UK.
Claim forms are available from:
HM Revenue and Customs
VAT Overseas Repayments Unit
PO Box 34, Foyle House
Duncreggan Road, Londonderry
Northern Ireland, BT48 7AE
Tel: +44 (0)2871 305100
Fax: +44 (0)2871 305101
[email protected]
7. SALES AND USE TAXES
Buyers from outside the UK should note that local sales taxes or use taxes may become payable upon import of items following purchase (for example, the Use Tax payable on import of purchased items to certain states of the USA). Buyers should obtain their own advice in this regard.
Sotheby's is registered to collect sales tax in the states of New York and California, USA. In the event that Sotheby's ships items for a purchaser in this sale to a destination within New York State USA, or California State USA, Sotheby's is obliged to collect the respective state's sales or use tax on the total purchase price and shipping costs, including insurance, of such items, regardless of the country in which the purchaser resides or is a citizen. Where the purchaser has provided Sotheby's with a valid Resale Exemption Certificate prior to the release of the property, sales and use tax will not be charged. Clients to whom this tax might apply are advised to contact the Post Sale Manager listed in the front of this catalogue before arranging shipping.


CONDITIONS OF BUSINESS FOR BUYERS

1. INTRODUCTION
(a) Sotheby's and Sellers' contractual relationship with prospective Buyers is governed by:
(i) these Conditions of Business;
(ii) the Conditions of Business for Sellers displayed in the saleroom and which are available upon request from Sotheby's UK salerooms or by telephoning +44 (0)20 7293 6152;
(iii) Sotheby's Authenticity Guarantee as printed in the sale catalogue;
(iv) any additional notices and terms printed in the sale catalogue, including Buying at Auction and,
(v) in respect of online bidding via the internet, the BIDnow Conditions on the Sotheby's website, in each case as amended by any saleroom notice or auctioneer's announcement at the auction.
(b) As auctioneer, Sotheby's acts as agent for the Seller. A sale contract is made directly between the Seller and the Buyer. However, Sotheby's may own a lot (and in such circumstances acts in a principal capacity as Seller) and/or may have a legal, beneficial or financial interest in a lot as a secured creditor or otherwise.
2. COMMON TERMS IN THESE CONDITIONS OF BUSINESS:
Bidder is any person considering, making or attempting to make a bid, by whatever means, and includes Buyers;
Buyer is the person who makes the highest bid or offer accepted by the auctioneer, and includes such person's principal when bidding as agent;
Buyer's Expenses are any costs or expenses due to Sotheby's from the Buyer and any Artist's Resale Right levy payable in respect of the sale of the Property, including an amount in respect of any applicable VAT thereon;
Buyer's Premium is the commission payable by the Buyer on the Hammer Price at the rates set out in Buying at Auction;
Counterfeit is as defined in Sotheby's Authenticity Guarantee;
Hammer Price is the highest bid accepted by the auctioneer by the fall of the hammer (in the case of wine, as apportioned pro-rata by reference to the number of separately identified items in that lot), or in the case of a post-auction sale, the agreed sale price;
Purchase Price is the Hammer Price and applicable Buyer's Premium and VAT;
Reserve is the (confidential) minimum Hammer Price at which the Seller has agreed to sell a lot;
Seller is the person offering a lot for sale (including their agent (other than Sotheby's), executors or personal representatives);
Sotheby's means Sotheby's, the unlimited company which has its registered office at 34-35 New Bond Street, London W1A 2AA;
Sotheby's Company means both Sotheby's in the USA and any of its subsidiaries (including Sotheby's in London) and Sotheby's Diamonds S.A. and its subsidiaries (in each case "subsidiary" having the meaning of Section 736 of the Companies Act 1985);
VAT is Value Added Tax at the prevailing rate. Further information is contained in Buying at Auction.
3. DUTIES OF BIDDERS AND OF SOTHEBY'S IN RESPECT OF ITEMS FOR SALE
(a) Sotheby's knowledge in relation to each lot is partially dependent on information provided to it by the Seller, and Sotheby's is not able to and does not carry out exhaustive due diligence on each lot. Bidders acknowledge this fact and accept responsibility for carrying out inspections and investigations to satisfy themselves as to the lots in which they may be interested.
(b) Each lot offered for sale at Sotheby's is available for inspection by Bidders prior to the sale. Sotheby's accepts bids on lots solely on the basis that Bidders (and independent experts on their behalf, to the extent appropriate given the nature and value of the lot and the Bidder's own expertise) have fully inspected the lot prior to bidding and have satisfied themselves as to both the condition of the lot and the accuracy of its description.
(c) Bidders acknowledge that many lots are of an age and type which means that they are not in perfect condition. All lots are offered for sale in the condition they are in at the time of the auction (whether or not Bidders are in attendance at the auction). Condition reports may be available to assist when inspecting lots. Catalogue descriptions and condition reports may on occasions make reference to particular imperfections of a lot, but Bidders should note that lots may have other faults not expressly referred to in the catalogue or condition report. Illustrations are for identification purposes only and will not convey full information as to the actual condition of lots.
(d) Information provided to Bidders in respect of any lot, including any estimate, whether written or oral and including information in any catalogue, condition or other report, commentary or valuation, is not a representation of fact but rather is a statement of opinion genuinely held by Sotheby's. Any estimate 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 in Sotheby's absolute discretion.
(e) No representations or warranties are made by Sotheby's or the Seller as to whether any lot is subject to copyright or whether the Buyer acquires copyright in any lot.
(f) Subject to th-e matters referred to in Conditions 3(a) to 3(e) above and to the specific exclusions contained at Condition 4 below, Sotheby's shall exercise such reasonable care when making express statements in catalogue descriptions or condition reports as is consistent with its role as auctioneer of lots in the sale to which these Conditions relate, and in the light of (i) the information provided to it by the Seller; (ii) scholarship and technical knowledge; and (iii) the generally accepted opinions of relevant experts, in each case at the time any such express statement is made.
4. EXCLUSIONS AND LIMITATIONS OF LIABILITY TO BUYERS
(a) Sotheby's shall refund the Purchase Price to the Buyer in circumstances where it deems that the lot is a Counterfeit and each of the conditions of the Authenticity Guarantee has been satisfied.
(b) In the light of the matters in Condition 3 above and subject to Conditions 4(a) and 4(e), neither any Sotheby's Company nor the Seller:
(i) is liable for any errors or omissions in information provided to Bidders by Sotheby's (or any Sotheby's Company), whether orally or in writing, whether negligent or otherwise, except as set out in Condition 3(f) above;
(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 law) other than the express warranties given by the Seller to the Buyer in Condition 2 of the Sellers' Conditions of Business;
(iii) accepts responsibility to any Bidders in respect of acts or omissions (whether negligent or otherwise) by Sotheby's in connection with the conduct of auctions or for any matter relating to the sale of any lot.
(c) Unless Sotheby's owns a lot offered for sale, it is not responsible for any breach of these conditions by the Seller.
(d) Without prejudice to Condition 4(b), any claim against Sotheby's or the Seller by a Bidder is limited to the Purchase Price with regard to that lot. Neither Sotheby's nor the Seller shall under any circumstances be liable for any consequential losses.
(e) None of this Condition 4 shall exclude or limit Sotheby's liability in respect of any fraudulent misrepresentation made by Sotheby's or the Seller, or in respect of death or personal injury caused by the negligent acts or omissions of Sotheby's or the Seller.
5. BIDDING AT AUCTION
(a) Sotheby's has absolute discretion to refuse admission to the auction. Bidders must complete a Paddle Registration Form and supply such information and references as required by Sotheby's. Bidders act as principal unless they have Sotheby's prior written consent to bid as agent for another party. Bidders are personally liable for their bid and are jointly and severally liable with their principal if bidding as agent.
(b) Sotheby's advises Bidders to attend the auction but will seek to carry out absentee written bids which are in pounds sterling and, in Sotheby's opinion, clear and received sufficiently in advance of the sale of the lot, endeavouring to ensure that the first received of identical written bids has priority.
(c) Where available, written, telephone and online bids are offered as an additional service for no extra charge, at the Bidder's risk and shall be undertaken with reasonable care subject to Sotheby's other commitments at the time of the auction; Sotheby's therefore cannot accept liability for failure to place such bids save where such failure is unreasonable. Telephone and online bids may be recorded. Online bids ("BIDnow") are made subject to the BIDnow Conditions available on the Sotheby's website or upon request. The BIDnow Conditions apply in relation to online bids, in addition to these Conditions of Business.
6. CONDUCT OF THE AUCTION
(a) Unless otherwise specified, all lots are offered subject to a Reserve, which shall be no higher than the low presale estimate at the time of the auction.
(b) The auctioneer has discretion at any time to refuse any bid, withdraw any lot, re-offer a lot for sale (including after the fall of the hammer) if he believes there may be error or dispute, and take such other action as he reasonably thinks fit.
(c) The auctioneer will commence and advance the bidding at levels and in increments he considers appropriate and is entitled to place a bid or series of bids on behalf of the Seller up to the Reserve on the lot, without indicating he is doing so and whether or not other bids are placed.
(d) Subject to Condition 6(b), the contract between the Buyer and the Seller is concluded on the striking of the auctioneer's hammer, whereupon the Buyer becomes liable to pay the Purchase Price.
(e) Any post-auction sale of lots offered at auction shall incorporate these Conditions as if sold in the auction.
7. PAYMENT AND COLLECTION
(a) Unless otherwise agreed, payment of the Purchase Price for a lot and any Buyer's Expenses are due by the Buyer in pounds sterling immediately on conclusion of the auction (the "Due Date") notwithstanding any requirements for export, import or other permits for such lot.
(b) Title in a purchased lot will not pass until Sotheby's has received the Purchase Price and Buyer's Expenses for that lot in cleared funds. Sotheby's is not obliged to release a lot to the Buyer until title in the lot has passed and appropriate identification has been provided, and any earlier release does not affect the passing of title or the Buyer's unconditional obligation to pay the Purchase Price and Buyer's Expenses.
(c) The Buyer is obliged to arrange collection of purchased lots no later than thirty (30) calendar days after the date of the auction. Purchased lots are at the Buyer's risk (and therefore their sole responsibility for insurance) from the earliest of i) collection or ii) the thirty-first calendar day after the auction. Until risk passes, Sotheby's will compensate the Buyer for any loss or damage to the lot up to a maximum of the Purchase Price paid. Buyers should note that Sotheby's assumption of liability for loss or damage is subject to the exclusions set out in Condition 6 of the Conditions of Business for Sellers.
(d) For all items stored by a third party and not available for collection from Sotheby's premises, the supply of authority to release to the Buyer shall constitute collection by the Buyer.
(e) All packing and handling is at the Buyer's risk. Sotheby's will not be liable for any acts or omissions of third party packers or shippers.
(f) The Buyer of any firearm is solely responsible for obtaining all valid firearm or shotgun certificates or certificates of registration as a firearms dealer, as may be required by the regulations in force in England and Wales or Scotland (as applicable) relating to firearms or other weapons at the time of the sale, and for complying with all such regulations, whether or not notice of such is published in the Sale Catalogue. Sotheby's will not deliver a firearm to a Buyer unless the Buyer has first supplied evidence to Sotheby's satisfaction of compliance with this Condition.
8. REMEDIES FOR NON-PAYMENT
Without prejudice to any rights the Seller may have, if the Buyer without prior agreement fails to make payment for the lot within five days of the auction, Sotheby's may in its sole discretion (having informed the Seller) exercise one or more of the following remedies:
(a) store the lot at its premises or elsewhere at the Buyer's sole risk and expense;
(b) cancel the sale of the lot;
(c) set off any amounts owed to the Buyer by a Sotheby's Company against any amounts owed to Sotheby's by the Buyer in respect of the lot;
(d) apply any payments made to Sotheby's by the Buyer as part of the Purchase Price and Buyer's expenses towards that or any other lot purchased by the Buyer, or to any shortfall on the resale of any lot pursuant to paragraph (h) below, or to any damages suffered by Sotheby's as a result of breach of contract by the Buyer;
(e) reject future bids from the Buyer or render such bids subject to payment of a deposit;
(f) charge interest at 6% per annum above HSBC Bank plc Base Rate from the Due Date to the date the Purchase Price and relevant Buyer's Expenses are received in cleared funds;
(g) exercise a lien over any of the Buyer's property which is in the possession of a Sotheby's Company. Sotheby's shall inform the Buyer of the exercise of any such lien and within 14 days of such notice may arrange the sale of such property and apply the proceeds to the amount owed to Sotheby's;
(h) resell the lot by auction or private sale, with estimates and reserves at Sotheby's discretion. In the event such resale is for less than the Purchase Price and Buyer's Expenses for that lot, the Buyer will remain liable for the shortfall together with all costs incurred in such resale;
(i) commence legal proceedings to recover the Purchase Price and Buyer's Expenses for that lot, together with interest and the costs of such proceedings on a full indemnity basis; or
(j) release the name and address of the Buyer to the Seller to enable the Seller to commence legal proceedings to recover the amounts due and legal costs. Sotheby's will take reasonable steps to notify the Buyer prior to releasing such details to the Seller.
9. FAILURE TO COLLECT PURCHASES
(a) If the Buyer pays the Purchase Price and Buyer's Expenses but fails to collect a purchased lot within thirty (30) calendar days of the auction, the lot will be stored at the Buyer's expense (and risk) at Sotheby's or with a third party.
(b) If a purchased lot is paid for but not collected within six months of the auction, the Buyer authorises Sotheby's, having given notice to the Buyer, to arrange a resale of the item by auction or private sale, with estimates and reserves at Sotheby's discretion. The proceeds of such sale, less all costs incurred by Sotheby's, will be forfeited unless collected by the Buyer within two years of the original auction.
10. EXPORT AND PERMITS
It is the Buyer's sole responsibility to identify and obtain any necessary export, import, firearm, endangered species or other permit for the lot. Any symbols or notices in the sale catalogue reflect Sotheby's reasonable opinion at the time of cataloguing and offer Bidders general guidance only. Without prejudice to Conditions 3 and 4 above, Sotheby's and the Seller make no representations or warranties as to whether any lot is or is not subject to export or import restrictions or any embargoes. The denial of any permit or licence shall not justify cancellation or rescission of the sale contract or any delay in payment.
11. GENERAL
(a) All images and other materials produced for the auction are the copyright of Sotheby's, for use at Sotheby's discretion.
(b) Notices to Sotheby's should be in writing and addressed to the department in charge of the sale, quoting the reference number specified at the beginning of the sale catalogue. Notices to Sotheby's clients shall be addressed to the last address formally notified by them to Sotheby's.
(c) Should any provision of these Conditions of Business be held unenforceable for any reason, the remaining provisions shall remain in full force and effect.
(d) These Conditions of Business are not assignable by any Buyer without Sotheby's prior written consent, but are binding on Buyers' successors, assigns and representatives. No act, omission or delay by Sotheby's shall be deemed a waiver or release of any of its rights.
(e) The Contracts (Rights of Third Parties) Act 1999 is excluded by these Conditions of Business and shall not apply to any contract made pursuant to them.
(f) The materials listed in Condition 1(a) above set out the entire agreement and understanding between the parties with respect to the subject matter hereof. It is agreed that, save in respect of liability for fraudulent misrepresentation, no party has entered into any contract pursuant to these terms in reliance on any representation, warranty or undertaking which is not expressly referred to in such materials.
12. DATA PROTECTION
Sotheby's will use information provided by its clients (or which Sotheby's otherwise obtains relating to its clients) for the provision of auction and other art-related services, loan and insurance services, client administration, marketing and otherwise to manage and operate its business, or as required by law. This will include information such as the client's name and contact details, proof of identity, financial information, records of the client's transactions, and preferences. Some gathering of information about Sotheby's clients will take place using technical means to identify their preferences in order to provide a higher quality of service to them. Sotheby's may also disclose the client information to other Sotheby's Companies and/or third parties acting on their behalf to provide services for these purposes listed above.
Sometimes, Sotheby's may also disclose this information to carefully selected third parties for their own marketing purposes. If you do not wish your details to be used for this purpose, please email [email protected].
If the client provides Sotheby's with information that is defined by European data protection laws as "sensitive", the client agrees that it may be used for the purposes set out above.
In the course of these disclosures, personal data collected in the European Economic Area may be disclosed to countries outside the European Economic Area. Although such countries may not have legislation that protects a client's personal information, Sotheby's shall take reasonable steps to keep such information secure and in accordance with European data protection principles. By agreeing to these Conditions of Business, the client is agreeing to such disclosure.
Please be aware that Sotheby's may film auctions or other activities on Sotheby's premises and that such recordings may be transmitted over the Internet via Sotheby's website. Telephone bids may be recorded.
Under European data protection laws, a client may object, by request and free of charge, to the processing of their information for certain purposes, including direct marketing, and may access and rectify personal data relating to them and may obtain more information about Sotheby's data protection policies by writing to Sotheby's, 34-35 New Bond Street, London W1A 2AA, or 1334 York Avenue, New York, NY 10021, Attn: Compliance, or emailing: [email protected].
13. LAW AND JURISDICTION
Governing Law These Conditions of Business and all aspects of all matters, transactions or disputes to which they relate or apply (including any online bids in the sale to which these Conditions apply) shall be governed by and interpreted in accordance with English law.
Jurisdiction For the benefit of Sotheby's, all Bidders and Sellers agree that the Courts of England are to have exclusive jurisdiction to settle all disputes arising in connection with all aspects of all matters or transactions to which these Conditions of Business relate or apply. All parties agree that Sotheby's shall retain the right to bring proceedings in any court other than the Courts of England.
Service of Process All Bidders and Sellers irrevocably consent to service of process or any other documents in connection with proceedings in any court by facsimile transmission, personal service, delivery by mail or in any other manner permitted by English law, the law of the place of service or the law of the jurisdiction where proceedings are instituted, at the last address of the Buyer or Seller known to Sotheby's or any other usual address.


SOTHEBY'S GREENFORD PARK STORAGE AND COLLECTION INFORMATION

Smaller items can normally be collected from New Bond Street, however large items may be sent to Sotheby's Greenford Park Fine Art Storage Facility. If you are in doubt about the location of your purchases please contact the Sale Administrator (see front of catalogue) prior to collection.

COLLECTION FROM NEW BOND STREET

Lots will be released to you or your authorised representative when full and cleared payment has been received by Sotheby's, together with settlement of any removal, interest, handling and storage charges thereon, appropriate identification has been provided and a release note has been produced by our Post Sale Service Group at New Bond Street, who are open Monday to Friday 9.00am to 5.00pm.
Any purchased lots that have not been collected within 30 days from the date of the auction will be subject to handling and storage charges at the rates set out below. In addition all purchased lots that have not been collected from our New Bond Street premises within 90 days of the auction will be transferred to Sotheby's Greenford Park Fine Art Storage Facility.
Collect your property from:
Sotheby's Property Collection
Opening hours:
Monday to Friday 9.00am to 5.00pm
34-35 New Bond Street
London, W1A 2AA
Tel: +44 (0)20 7293 5358
Fax: +44 (0)20 7293 5933

COLLECTION FROM SOTHEBY'S GREENFORD PARK FINE ART STORAGE FACILITY

Lots will be released to you or your authorised representative when full and cleared payment has been received by Sotheby's, together with settlement of any removal, interest, handling and storage charges thereon, appropriate identification has been provided and a release note has been produced by our Post Sale Service Group at New Bond Street, who are open Monday to Friday 9.00am to 5.00pm.
Purchasers must ensure that their payment has been cleared prior to collection and that a release note has been forwarded to Sotheby's Greenford Park by our Post Sale Service Group at Sotheby's New Bond Street. Buyers who have established credit arrangements with Sotheby's may collect purchases prior to payment, although a release note is still required from our Post Sale Service Group as above.
Any purchased lots that have not been collected within 30 days from the date of the auction will be subject to handling and storage charges at the rates set out below.
Collect your property from: Sotheby's Greenford Park Fine Art Storage Facility
Opening hours:
Monday to Friday 8.30am to 4.30pm
Sotheby's Greenford Park,
13 Ockham Drive, Greenford, Middlesex, UB6 0FD
Tel: +44 (0)20 7293 5600
Fax: +44 (0)20 7293 5625

ROUTE GUIDANCE TO SOTHEBY'S GREENFORD PARK FINE ART STORAGE FACILITY

From Bond Street head towards Regents Park, take the A40 Marylebone Road to Western Avenue. Take the exit off the A40 signposted Greenford A4127. At the roundabout take the third exit signposted Harrow and Sudbury, A4127 onto Greenford Road. Go under the railway bridge and at the traffic lights turn first left into Rockware Avenue. At the T Junction turn right onto Oldfield Lane North and then left into Ockham Drive. Stop at the security barrier and say you are visiting Sotheby's. Once cleared, travel 300 yards down the road and Unit 13 is situated on the left hand side.
STORAGE CHARGES
Any purchased lots that have not been collected within 30 days from the date of the auction will be subject to handling and storage charges at the following rates:
Small items (such as jewellery, watches, books or ceramics): handling fee of £20 per lot plus storage charges of £2 per lot per day.
Medium items (such as most paintings or small items of furniture): handling fee of £30 per lot plus storage charges of £4 per lot per day.
Large items (items that cannot be lifted or moved by one person alone): handling fee of £40 per lot plus storage charges of £8 per lot per day.
Oversized items (such as monumental sculptures): handling fee of £80 per lot plus storage charges of £10 per lot per day.
A lot's size will be determined by Sotheby's on a case by case basis (typical examples given above are for illustration purposes only).
All charges are subject to VAT, where applicable. All charges are payable to Sotheby's at our Post Sale Service Group in New Bond Street.
Storage charges will cease for purchased lots which are shipped through Sotheby's Shipping Logistics from the date on which we have received a signed quote acceptance from you.

LIABILITY FOR LOSS OR DAMAGE

Buyers are reminded that Sotheby's accepts liability for loss or damage to lots for a maximum period of thirty (30) calendar days after the date of the auction. Please refer to Condition 7 of the Conditions of Business for Buyers.

SOTHEBY'S AUTHENTICITY GUARANTEE

If Sotheby's sells an item which subsequently is shown to be a "counterfeit", subject to the terms below Sotheby's will set aside the sale and refund to the Buyer the total amount paid by the Buyer to Sotheby's for the item, in the currency of the original sale.
For these purposes, "counterfeit" means a lot that in Sotheby's reasonable opinion is an imitation created to deceive as to authorship, origin, date, age, period, culture or source, where the correct description of such matters is not reflected by the description in the catalogue (taking into account any Glossary of Terms). No lot shall be considered a counterfeit by reason only of any damage and/or restoration and/or modification work of any kind (including repainting or over-painting).
Please note that this Guarantee does not apply if either:
(i) the catalogue description was in accordance with the generally accepted opinion(s) of scholar(s) and expert(s) at the date of the sale, or the catalogue description indicated that there was a conflict of such opinions; or
(ii) the only method of establishing at the date of the sale that the item was a counterfeit would have been by means of processes not then generally available or accepted, unreasonably expensive or impractical to use; or likely to have caused damage to the lot or likely (in Sotheby's reasonable opinion) to have caused loss of value to the lot; or
(iii) there has been no material loss in value of the lot from its value had it been in accordance with its description.

This Guarantee is provided for a period of five (5) years after the date of the relevant auction, is solely for the benefit of the Buyer and may not be transferred to any third party. To be able to claim under this Guarantee, the Buyer must:
(i) notify Sotheby's in writing within three (3) months of receiving any information that causes the Buyer to question the authenticity or attribution of the item, specifying the lot number, date of the auction at which it was purchased and the reasons why it is thought to be counterfeit; and
(ii) return the item to Sotheby's in the same condition as at the date of sale to the Buyer and be able to transfer good title in the item, free from any third party claims arising after the date of the sale.

Sotheby's has discretion to waive any of the above requirements. Sotheby's may require the Buyer to obtain at the Buyer's cost the reports of two independent and recognised experts in the field, mutually acceptable to Sotheby's and the Buyer. Sotheby's shall not be bound by any reports produced by the Buyer, and reserves the right to seek additional expert advice at its own expense. In the event Sotheby's decides to rescind the sale under this Guarantee, it may refund to the Buyer the reasonable costs of up to two mutually approved independent expert reports.
4/08 NBS_GUARANTEE MAIN


IMPORTANT NOTICES

ESTIMATES IN EUROS AND US DOLLARS

As a guide to potential buyers, estimates for this sale are also shown in Euros and US Dollars. The estimates printed in the catalogue in Pounds Sterling have been converted at the following rate, which was current at the time of printing. These estimates may have been rounded:
£1 = US$1.4509
£1 = €1.269
By the date of the sale this rate is likely to have changed, and buyers are recommended to check before bidding.
During the sale Sotheby's may provide a screen to show currency conversions as bidding progresses. This is intended for guidance only and all bidding will be in Pounds Sterling. Sotheby's is not responsible for any error or omissions in the operation of the currency converter.
Payment for purchases is due in Pounds Sterling, however the equivalent amount in any other currency will be accepted at the rate prevailing on the day that payment is received in cleared funds.
Settlement is made to vendors in the currency in which the sale is conducted, or in another currency on request at the rate prevailing on the day that payment is made by Sotheby's.

LIABILITY FOR LOSS OR DAMAGE FOR PURCHASED LOTS

Purchasers are requested to arrange clearance as soon as possible and are reminded that Sotheby's accepts liability for loss or damage to lots for a maximum period of thirty (30) calendar days following the date of the auction. Please refer to condition 7 of the Conditions of Business for Buyers.

COLLECTION OF LOTS MARKED 'W'

All purchased lots marked in the catalogue with a W will be transferred from the saleroom to Sotheby's Greenford Park Fine Art Storage Facility after 5 pm on the day of the sale. Collection can be made from Sotheby's Greenford Park two days after the sale, but not on the day immediately following the sale.
Exceptions to this procedure will be notified by auction room notice and announced at the time of the sale. After 30 days storage charges will commence.
Please see the Buying at Auction guide for further information.


SAFETY AT SOTHEBY'S

Sotheby's is concerned for your safety while you are on our premises and we endeavour to display items safely so far as is reasonably practicable. Nevertheless, should you handle any items on view at our premises, you do so at your own risk.
Some items can be large and/or heavy and can be dangerous if mishandled. Should you wish to view or inspect any items more closely please ask for assistance from a member of Sotheby's staff to ensure your safety and the safety of the property on view.
Some items on view may be labelled "PLEASE DO NOT TOUCH". Should you wish to view these items you must ask for assistance from a member of Sotheby's staff who will be pleased to assist you. Thank you for your co-operation.
11/10 NBS_NOTICE_€ & $US


GLOSSARY OF TERMS

The following are examples of the terminology used in this catalogue. Any statement as to authorship, attribution, origin, date, age, provenance and condition is a statement of opinion and is not to be taken as a statement of fact.
Please read carefully the terms of the Authenticity Guarantee and the Conditions of Business for Buyers set out in this catalogue, in particular Conditions 3 and 4.
1. GIOVANNI BELLINI
In our opinion a work by the artist. (When the artist's forename(s) is not known, a series of asterisks, followed by the surname of the artist, whether preceded by an initial or not, indicates that in our opinion the work is by the artist named.
2. ATTRIBUTED TO GIOVANNI BELLINI
In our opinion probably a work by the artist but less certainty as to authorship is expressed than in the preceding category.
3. STUDIO OF GIOVANNI BELLINI
In our opinion a work by an unknown hand in the studio of the artist which may or may not have been executed under the artist's direction.
4. CIRCLE OF GIOVANNI BELLINI
In our opinion a work by an as yet unidentified but distinct hand, closely associated with the named artist but not necessarily his pupil.
5. STYLE OF............; FOLLOWER OF GIOVANNI BELLINI
In our opinion a work by a painter working in the artist's style, contemporary or nearly contemporary, but not necessarily his pupil.
6. MANNER OF GIOVANNI BELLINI
In our opinion a work in the style of the artist and of a later date.
7. AFTER GIOVANNI BELLINI
In our opinion a copy of a known work of the artist.
8. The term signed and/or dated and/or inscribed means that in our opinion the signature and/or date and/or inscription are from the hand of the artist.
9. The term bears a signature and/or date and/or inscription means that in our opinion the signature and/or date and/or inscription have been added by another hand.
10. Dimensions are given height before width
1/03 NBS_GLOS_OMP
In recognition of the high standards of business administration and our compliance with all required customs protocols and procedures, Sotheby's UK
has been awarded the European Union Authorised Economic Operator status by Her Majesty's Revenue and Customs.
Sotheby's UK is committed to improving its sustainability, conserving resources and reducing the environmental impact of its various operations. A copy of Sotheby's Environmental Policy is available on request. Main Enquiries: +44 (0)20 7293 5000.
Photography
Brian Watt
Catalogue Designer
James Davis
Colour Editor
James Stabler
Production Controller
Emilie Ludot


INTERNATIONAL DEPARTMENTS

For a full listing of our offices and salerooms worldwide with detailed information on all of Sotheby's services, visit sothebys.com
OLD MASTER PAINTINGS
London
Alexander Bell
George Gordon
Arabella Chandos
Andrew Fletcher
Cecilia Treves
Chloe Stead
Georgina Eliot
Alice Herford
+44 (0)20 7293 6414
PRIVATE TREATY SALES
James Macdonald
+44 (0)20 7293 5887
New York
George Wachter
Christopher Apostle
Edoardo Roberti
Andrea Kust
Beatrice Stern
Calvine Harvey
David Pollack
Jonquil O'Reilly
+1 212 606 7230
Amsterdam
Judith Niessen
+31 20 550 2203
Brussels
Marianna Lora
+322 627 7187


Paris
Pierre Etienne
Lucia Mestre
+33 1 5305 53 26
Madrid
Marta Oliden
+34 91 576 5714
Milan
Alberto Chiesa
+39 02 2950 0207
Monaco
Mark Armstrong
+37 7 9330 8880
Geneva
Emily Black
+41 22 908 4849
BRITISH PAINTINGS
London
Julian Gascoigne
David Moore-Gwyn (consultant)
+44 (0)20 7293 6414


BRITISH DRAWINGS, WATERCOLOURS AND PORTRAIT MINIATURES
London
Mark Griffith-Jones
+44 (0)20 7293 5083
OLD MASTER DRAWINGS
London & New York
Gregory Rubinstein
Cristiana Romalli
Claire Anderson
Alexander Faber
+44 (0)20 7293 6450
Paris
Pierre Etienne
Lucia Mestre
+33 1 5305 53 26
Amsterdam
Judith Niessen
+31 20 550 2203


FORTHCOMING AUCTIONS
A comprehensive calendar of international auctions, in addition to all sale results, can be viewed at sothebys.com
OLD MASTERS EVENING SALE
7 December 2016
London

OLD MASTERS DAY SALE
8 December 2016
London

OLD MASTERS
January 2017
New York

INDEX
Aelst 153
Anesi 192
Antwerp School 126

Backhuysen 158
Baldrighi 201
Bastarolo 167
Batoni 190
Beerstraaten 152
Bigg 219
Bloemaert 121
Bosschaert 125
Bray 140
Brueghel 119
Brunswick Monogrammist 116

Camuccini 206
Carreño 180
Castilian School 163
Catena 165
Cleve 104
Coecke van Aelst 106
Colson 204
Conca 189
Constable 218
Crespi 170

Dael 213
Dou 123
Duck 136
Dutch or English School 145
Dyck 127

Ferg 144
Ferneley 217
Florentine School 174, 179
Francken 117

Gainsborough 209
Garofalo 164
Gassel 101
Gerung 107
Goya 194
Gramatica 169
Greco 183
Greuze 205
Grimmer 108
Guardi 200
Gundelach 118

Hamen 181
Hanneman 128
Heusch 141
Hickey 214


Italian School 173

Janneck 193
Joli 199

Kauffmann 202
Kessel 132
Key 111
Kraen 133

Lacroix 197
Landseer 220
Lely 115
Lopez 184

Maes 137
Maratta 187
Martin 207
Massys 103
Master of Sainte Gudule 105
Master of the Prodigal Son 109
Molenaer 151
Morland 215
Morone 161
Mulier 154

Oosten 124
Oudry 196

Palamedesz 159
Parra 182
Peake 110
Peroni 188
Piombo 168
Polo 186
Ponce 185
Pozzoserrato 166
Priwitzer 113

Raeburn 211, 212
Rembrandt 130
Reni 171
Ribera 177
Rigaud 203
Ring 150
Rotius 135
Rubens 129

Sassoferrato 178
Schedoni 176
Schütz 191
Seeman 208
Sirani 172
Son 134
Sonjé 148
Steen 138

Teniers 160
Thulden 122
Tintoretto 175

Uyl 149

Valckenborch 102
Valckert 143
Veerendael 156
Velde 157
Verbeeck 147
Vernet 195, 198
Vitringa 155
Walker 112, 114
Ward 216
Weenix 139
Wijnen 131
Willaerts 146
Wootton 210
Wouwerman 142
Wtewael 120
Zanino 162


WHAT INFORMATION COLLECTED ON THE SOTHEBY'S ON INVALUABLE ONLINE PLATFORM DOES SOTHEBY'S RECEIVE FROM INVALUABLE

User-Provided Information
Invaluable collects Personal Information about Invaluable users who register and/or bid via the Sotheby's on Invaluable Online Platform and may share that information with Sotheby's. Invaluable may collect such Personal information, for example, through users' activities, transactions and completion of online forms on the Platform. Such information is collected, for example, when users register to bid, place bids, are successful in purchasing at auction, submit a comment or question to Invaluable, contact Invaluable or Sotheby's for customer service or use any similar "contact us" feature, send Sotheby's or Invaluable an email, or in any other way submit Personal Information to Invaluable related to their use of the Sotheby's on Invaluable Online Platform.

How is your Personal Information used
Sotheby's will use the Personal Information that Invaluable shares with us to provide services to you. For example, Sotheby's may use your Personal Information to respond to your requests and inquiries, to provide you with client service that you request, and to prevent, detect and to investigate fraud, security breaches, or other potentially prohibited or illegal behavior and to enforce our policies. We will also use your Personal Information to maintain our internal record keeping, to run credit checks and to report to credit bureaus. Late payments, missed payments, or other defaults in connection with your transaction activity on the Sotheby's on Invaluable Online Platform may be reflected in your credit report. We may match or combine information collected from you through different means or at different times, including both Personal Information and information about your use of the Platform, and use such information along with information obtained from other sources, including from third parties.

In addition, we may use your Personal Information to contact you via email, telephone or postal mail or as you otherwise authorize us in order to inform you about certain other Sotheby's events and services.

Marketing Preferences
You have the right to "opt in" and "opt out" of certain of our uses of your Personal Information and may change your preferences regarding such uses at any time. For example, you may have the opportunity to elect whether or not to receive commercial correspondence from us related to certain auctions, sales and other services. You may also opt-out of Sotheby's promotional e-mails by clicking on the opt-out link within the e-mail you receive from us, or of Sotheby's postal mailings by following the directions in such mailings. Please be aware that it may take up to 10 business day(s)for Sotheby's to update your preferences. During that time, you may continue to receive messages from us.

Please understand that if you opt-out of receiving promotional correspondence from us, we may still contact you in connection with your relationship, activities, transactions and communications with us, including on the Sotheby's on Invaluable Online Platform.

Do we share Personal Information and Web Site Usage Information with others?
Sotheby's does not sell, lease or give your Personal Information we receive from Invaluable relating to Sotheby's on Invaluable Online Platform to any other company, except as otherwise described herein.

Service Providers
Sotheby's may use third party partners to provide products or services to you. We, may, when necessary to do so, share your Personal Information with our affiliates, service providers or other third parties that provide products or Services for or through this Web Site or for our business purposes (such as Web site or database hosting companies, address list hosting companies, e-mail service providers, analytics companies, distribution companies, fulfillment companies, and other similar service providers that use such information on our behalf). These third party partners are obligated to protect the security and confidentiality of your information.

Call Center
Sotheby's may provide certain Personal Information to Sotheby's third-party call center. The third-party call center is required to keep all sensitive information about you and your use of this Web Site confidential. The call center is required to use your information solely in order to help you with registration or sign-in problems and other services.

Aggregate Statistics
We may disclose aggregate statistics regarding user behavior as a measure of interest in, and use of, this Web Site and e-mails to third parties in the form of aggregate data, such as overall patterns or demographic reports that do not describe or identify any individual user. Aggregate statistics we disclose in this manner do not contain your Personal Information.

Legally Compelled Disclosures
We may disclose user information to government authorities or other third parties when we believe such disclosure is required by law. We may also disclose user information as necessary to enforce the Sotheby's Web Site Terms and Conditions, in connection with investigations, or when we believe disclosure is necessarily incident to the provision of Sotheby's services or to the protection of the rights, property or safety of Sotheby's or others.

Business Transfer
Sotheby's regards its databases of customer information (which will include your Personal Information) as a valuable asset. In the event that Sotheby's, any entity of The Sotheby's Group, or substantially all of its or their assets, are acquired by one or more third parties as a result of an acquisition, merger, sale, reorganization, consolidation or liquidation, such databases containing Personal Information may be one of the transferred assets. In addition, such a transfer may mean that your Personal Information is transferred to countries outside the European Economic Area ("EEA") even if you are located within the EEA. By using the Services you consent to such transfer of your Personal Information.

Your Access Rights
You may review and edit the Personal Information that is stored by Sotheby's by contacting Sotheby's via the email address at the end of this policy. We will endeavor to respond to your request as soon as practicable. Before we are able to provide you with any information, correct any inaccuracies or delete any information, however, we may ask you to verify your identity and to provide other details to help us to respond to your request. In addition, you have the right to request access to the Personal Information that we hold about you at any time.

Security
Sotheby's will take reasonable steps to protect the security and integrity of the Personal Information Invaluable shares with us, including by making your Personal Information available to our employees and agents only on a need-to-know basis. However, due to the inherent nature of the Internet as an open global communications vehicle, we cannot guarantee that information, during transmission through the Internet or while stored on our system or otherwise in our care, will be absolutely safe from intrusion by others, such as hackers.

If you contact us by e-mail or a "contact us" or similar feature on our Web Site, you should be aware that your transmission might not be secure. A third party could view information you send by these methods in transit.

We will have no liability for disclosure of your information due to errors or unauthorized acts of third parties.
In the unlikely event that we believe that the security of your Personal Information in our possession or control may have been compromised, we may seek to notify you of that development. If a notification is appropriate, we will endeavor to do so as promptly as possible under the circumstances, and, if we have your e-mail address, we may notify you by e-mail. You consent to our use of e-mail as a means of such notification.

Phishing
With identity theft a continuing problem, it has become increasingly common for unauthorised individuals to send e-mail messages to consumers, purporting to represent a legitimate company such as a bank or on-line merchant, requesting that the consumer provide personal, often sensitive information. Sometimes, the domain name of the e-mail address from which the e-mail appears to have been sent, and the domain name of the web site requesting such information, appears to be the domain name of a legitimate, trusted company. In reality, such sensitive information is received by an unauthorized individual to be used for purposes of identity theft. This illegal activity has come to be known as "phishing."
Sotheby's will never request your password or social security number via e-mail. If you receive an e-mail or other correspondence requesting that you provide any sensitive information (including your password for the Platform or your credit card information) via e-mail or to a web site that does not seem to be affiliated with Sotheby's or Invaluable, or that otherwise seems suspicious to you, please do not provide any information in response to the request, and report such request to us.

Consent to Worldwide Transfer and Processing of Personal Data
Sotheby's is a global enterprise, with affiliates worldwide. When you give your Personal Information to Sotheby's, it may be processed by Sotheby's in all countries in which Sotheby's has affiliates. Each of these countries has different privacy laws that afford varying levels of protection for your Personal Information. Regardless of the laws in place in these countries, Sotheby's will treat the privacy of your information in accordance with the terms of this Privacy Policy. By providing your Personal Information to Sotheby's, you consent to Sotheby's transmission to, and processing of your information in, any jurisdiction, in accordance with this Privacy Policy.

Changes to this Privacy Policy
Sotheby's reserves the right to change or update this Privacy Policy, or any other of our policies or practices, at any time, and will notify users of this Web Site by posting such changed or updated Privacy Policy on this Web Site, or by otherwise making such changed or updated Privacy Policy accessible to affected users. Any changes or updates will be effective immediately upon posting to this Web Site, or upon such other notice by us. Under certain circumstances, we may also elect to notify you of changes or updates to our Privacy Policy by additional means, such as by sending you an e-mail.

If you have any questions or comments regarding our privacy practices or wish to verify or change the information in our files, you may contact us at [email protected]. You may also send mail to us with any comments, questions or concerns at:

Sotheby's.
1334 York Avenue
New York, New York 10021
Attention: Data Quality Department
Last Modified: March 15, 2016

Shipping Terms

BUYING AT AUCTION

The following pages are designed to give you useful information on how to buy at auction. Sotheby's staff as listed at the front of this catalogue will be happy to assist you. However, it is important that you read the following information carefully and note that Sotheby's acts for the seller; you should refer in particular to Conditions 3 and 4 of the Conditions of Business for Buyers printed in this catalogue. Prospective bidders should also consult www.sothebys.com for the most up to date cataloguing of the property in this catalogue.
Buyer's Premium A buyer's premium will be added to the hammer price and is payable by the buyer as part of the total purchase price. The buyer's premium is 25% of the hammer price up to and including £100,000, 20% of any amount in excess of £100,000 up to and including £1,800,000, and 12% of any amount in excess of £1,800,000.
1. BEFORE THE AUCTION
Catalogue Subscriptions If you would like to take out a catalogue subscription, please ring +44 (0)20 7293 5000.
Pre-sale Estimates Pre-sale estimates are intended as a guide for prospective buyers. Any bid between the high and low pre-sale estimates would, in our opinion, offer a chance of success. However, lots can realise prices above or below the pre-sale estimates.
It is advisable to consult us nearer the time of sale as estimates can be subject to revision. The estimates printed in the auction catalogue do not include the buyer's premium or VAT.
Pre-sale Estimates in US Dollars and Euros Although the sale is conducted in pounds sterling, the pre-sale estimates in some catalogues are also printed in US dollars and/or euros. The rate of exchange is the rate at the time of production of this catalogue. Therefore, you should treat the estimates in US dollars or euros as a guide only.
Condition of Lots Prospective buyers are encouraged to inspect the property at the pre-sale exhibitions. Solely as a convenience, Sotheby's may also provide condition reports. The absence of reference to the condition of a lot in the catalogue description does not imply that the lot is free from faults or imperfections. Please refer to Condition 3 of the Conditions of Business for Buyers printed in this catalogue.
Electrical and Mechanical Goods All electrical and mechanical goods are sold on the basis of their artistic and decorative value only, and should not be assumed to be operative. It is essential that prior to any intended use, the electrical system is checked and approved by a qualified electrician.
Provenance In certain circumstances, Sotheby's may print in the catalogue the history of ownership of a work of art if such information contributes to scholarship or is otherwise well known and assists in distinguishing the work of art. However, the identity of the seller or previous owners may not be disclosed for a variety of reasons. For example, such information may be excluded to accommodate a seller's request for confidentiality or because the identity of prior owners is unknown given the age of the work of art.
2. DURING THE AUCTION
Conditions of Business The auction is governed by the Conditions of Business and Authenticity Guarantee. These apply to all aspects of the relationship between Sotheby's and actual and prospective bidders and buyers. Anyone considering bidding in the auction should read them carefully. They may be amended by way of notices posted in the saleroom or by way of announcement made by the auctioneer.
Bidding at Auction Bids may be executed in person by paddle during the auction, in writing prior to the sale, by telephone or by BIDnow.
Auction speeds vary, but average between 50 and 120 lots per hour. The bidding steps are generally in increments of approximately 10% of the previous bid.
Please refer to Conditions 5 and 6 of the Conditions of Business for Buyers printed in this catalogue.
Bidding in Person To bid in person, you will need to register for and collect a numbered paddle before the auction begins. Proof of identity will be required. If you have a Sotheby's Client Card, it will facilitate the registration process.
Should you be the successful buyer of a lot, please ensure that your paddle can be seen by the auctioneer and that it is your number that is called out. Should there be any doubts as to price or buyer, please draw the auctioneer's attention to it immediately.
All lots sold will be invoiced to the name and address in which the paddle has been registered and cannot be transferred to other names and addresses.
Please do not mislay your paddle; in the event of loss, inform the Sales Clerk immediately. At the end of the sale, please return your paddle to the registration desk.
Absentee, Telephone and Internet Bids If you cannot attend the auction, we will be happy to execute written bids on your behalf or you can bid on the telephone for lots with a minimum low estimate of £3,000 or you can bid online using BIDnow. A bidding form and more information can be found at the back of this catalogue.
Online Bidding via BIDnow If you cannot attend the auction, it may be possible to bid online via BIDnow for selected sales. This service is free and confidential. For information about registering to bid via BIDnow, please refer to sothebys.com. Bidders using the BIDnow service are subject to the Additional Terms and Conditions for Live Online Bidding via BIDnow, which can be viewed at sothebys.com, as well as the Conditions of Business applicable to the sale.
Consecutive and Responsive Bidding The auctioneer may open the bidding on any lot by placing a bid on behalf of the seller. The auctioneer may further bid on behalf of the seller, up to the amount of the reserve, by placing consecutive or responsive bids for a lot. Please refer to Condition 6 of the Conditions of Business for Buyers printed in this catalogue.
Interested Parties Announcement In situations where a person who is allowed to bid on a lot has a direct or indirect interest in such lot, such as the beneficiary or executor of an estate selling the lot, a joint owner of the lot, or a party providing or participating in a guarantee of the lot, Sotheby's will make an announcement in the saleroom that interested parties may bid on the lot. In certain instances, interested parties may have knowledge of the reserves.
Employee Bidding Sotheby's employees may bid only if the employee does not know the reserve and fully complies with Sotheby's internal rules governing employee bidding.
US Economic Sanctions The United States maintains economic and trade sanctions against targeted foreign countries, groups and organiszations. There may be restrictions on the import into the United States of certain items originating in sanctioned countries, including Burma, Cuba, Iran, North Korea and Sudan. The purchaser's inability to import any item into the US or any other country as a result of these or other restrictions shall not justify cancellation or rescission of the sale or any delay in payment. Please check with the specialist department if you are uncertain as to whether a lot is subject to these import restrictions, or any other restrictions on importation or exportation.
3. AFTER THE AUCTION
Payment Payment is due immediately after the sale and may be made by the following methods: Sterling wire transfer, Sterling cheque, Sterling cash, UK debit card. Payment may also be made by Visa, MasterCard and non-UK debit card subject to a 1.2% surcharge, and by American Express and CUP subject to a 1.75% surcharge.
• It is against Sotheby's general policy to accept single or multiple related payments in the form of cash or cash equivalents in excess of the local currency equivalent of US$10,000.
• It is Sotheby's policy to request any new clients or buyers preferring to make a cash payment to provide: proof of identity (by providing some form of government issued identification containing a photograph, such as a passport, identity card or driver's licence) and confirmation of permanent address. Thank you for your co-operation.
Cheques should be made payable to Sotheby's. Although personal and company cheques drawn in pounds sterling on UK banks are accepted, you are advised that property will not be released until such cheques have cleared unless you have a pre-arranged Cheque Acceptance Facility. Forms to facilitate this are available from the Post Sale Services Department.
Bank transfers Our bank account details are shown on our invoices. Please include your name, Sotheby's account number and invoice number with your instructions to your bank. Please note that we reserve the right to decline payments received from anyone other than the buyer of record and that clearance of such payments will be required. Please contact our Post Sale Services Department if you have any questions concerning clearance.
Card payments below £30,000 (excluding CUP), can be made remotely by completing our Absentee Card Payment Form. For further details please contact the Post Sale Services Department on +44 (0)20 7293 5220.
We reserve the right to seek identification of the source of funds received.
The Conditions of Business require buyers to pay immediately for their purchases. However, in limited circumstances and with the seller's agreement, Sotheby's may grant buyers it deems creditworthy the option of paying for their purchases on an extended payment term basis. Generally credit terms must be arranged prior to the sale. In advance of determining whether to grant the extended payment terms, Sotheby's may require credit references and proof of identity and residence.
Collection It is Sotheby's policy to request proof of identity on collection of a lot. Lots will be released to you or your authorised representative when full and cleared payment has been received by Sotheby's. If you are in doubt about the location of your purchases, please contact the Sale Administrator prior to arranging collection. Removal, storage and handling charges may be levied on uncollected lots. Please refer to Condition 7 of the Conditions of Business for Buyers printed in this catalogue.
Storage Storage and handling charges may apply. For information concerning post sale storage and charges, please see Sotheby's Greenford Park, Storage and Collection Information at the back of this catalogue. Please refer to Condition 7 of the Conditions of Business for Buyers printed in this catalogue.
All purchases remaining at our New Bond Steet premises 90 days after the sale will be transferred to Sotheby's Greenford Park Fine Art Storage (see Sotheby's Greenford Park, Storage and Collection information). All such purchases will be subject to further storage and handling charges from this point.
Loss or Damage Buyers are reminded that Sotheby's accepts liability for loss or damage to lots for a maximum period of thirty (30) days after the date of the auction. Please refer to Condition 7 of the Conditions of Business for Buyers printed in this catalogue.
Shipping Sotheby's offers a comprehensive shipping service. Except if otherwise indicated in this Buying At Auction Guide, our Shipping Department can advise buyers on exporting and shipping property, and arranging delivery.
For assistance please contact:
Post Sale Services (Mon-Fri 9am to 5 pm)
Tel +44 (0)20 7293 5220
Fax +44 (0)20 7293 5910
Email: [email protected]
We will send you a quotation for shipping your purchase(s). Transit risk insurance may also be included in your quotation. If the quotation is accepted, we will arrange the shipping for you and will despatch the property as soon as possible after receiving your written agreement to the terms of the quotation, financial release of the property and receipt of any export licence or certificates that may be required. Despatch will be arranged at the buyer's expense. Sotheby's may charge an administrative fee for arranging the despatch.
All shipments should be unpacked and checked on delivery and any discrepancies notified immediately to the party identified in your quotation and/or the accompanying documentation.
Export The export of any lot from the UK or import into any other country may be subject to one or more export or import licences being granted. It is the buyer's responsibility to obtain any relevant export or import licence. The denial of any licence required or delay in obtaining such licence cannot justify the cancellation of the sale or any delay in making payment of the total amount due.
Sotheby's, upon request and for an administrative fee, may apply for a licence to export your lot(s) outside the UK
• An EU Licence is necessary to export cultural goods subject to the EU Regulation on the export of cultural property (EEC No. 3911/92, Official Journal No. L395 of 31/12/92) from the European Community.
• A UK Licence is necessary to move cultural goods valued at or above the relevant UK Licence limits from the UK.
For export outside the European Community, an EU Licence will be required for most items over 50 years of age with a value of over £39,219. The following is a selection of categories of items for which other value limits apply and for which an EU Licence may be required. It is not exhaustive and there are other restrictions.
EU Licence Thresholds
Archaeological objects
EU LICENCE THRESHOLD: ZERO
Elements of artistic, historical or religious
monuments
EU LICENCE THRESHOLD: ZERO
Manuscripts, documents and archives
(excluding printed matter)
EU LICENCE THRESHOLD: ZERO
Architectural, scientific and engineering drawings produced by hand
EU LICENCE THRESHOLD: £11,766
Photographic positive or negative or any
assemblage of such photographs
EU LICENCE THRESHOLD: £11,766
Textiles (excluding carpets and tapestries)
EU LICENCE THRESHOLD: £39,219
Paintings in oil or tempera
EU LICENCE THRESHOLD: £117,657
Watercolours, gouaches and pastels
EU LICENCE THRESHOLD: £23,531
Prints, Engravings, Drawings and Mosaics
EU LICENCE THRESHOLD: £11,766
There are separate thresholds for exporting within the European Community. A UK Licence will be required for most items over 50 years of age with a value of over £65,000. Some exceptions are listed below:
UK Licence Thresholds
Photographic positive or negative or any
assemblage of such photographs
UK LICENCE THRESHOLD: £10,000
Textiles (excluding carpets and tapestries)
UK LICENCE THRESHOLD: £12,000
British Historical Portraits
UK LICENCE THRESHOLD: £10,000
Sotheby's recommends that you retain all import and export papers, including licences, as in certain countries you may be required to produce them to governmental authorities.
Endangered Species Items made of or incorporating plant or animal material, such as coral, crocodile, ivory, whalebone, tortoiseshell, etc., irrespective of age or value, may require a licence or certificate prior to exportation and require additional licences or certificates upon importation to any country outside the EU. Please note that the ability to obtain an export licence or certificate does not ensure the ability to obtain an import licence or certificate in another country, and vice versa. For example, it is illegal to import African elephant ivory into the United States and there are other restrictions on the importation of ivory into the US under certain US regulations which are designed to protect wildlife conservation.
Sotheby's suggests that buyers check with their own government regarding wildlife import requirements prior to placing a bid. It is the buyer's responsibility to obtain any export or import licences and/or certificates as well as any other required documentation (please refer to Condition 10 of the Conditions of Business for Buyers printed in this catalogue). Please note that Sotheby's is not able to assist buyers with the shipment of any lots containing ivory and/or other restricted materials into the US. A buyer's inability to export or import these lots cannot justify a delay in payment or a sale's cancellation.


EXPLANATION OF SYMBOLS

The following key explains the symbols you may see inside this catalogue.
http://www.sothebys.com/en/key-to-lots-symbols.html

Guaranteed Property
The seller of lots with this symbol has been guaranteed a minimum price from one auction or a series of auctions. This guarantee may be provided by Sotheby's or jointly by Sotheby's and a third party. Sotheby's and any third parties providing a guarantee jointly with Sotheby's benefit financially if a guaranteed lot is sold successfully and may incur a loss if the sale is not successful. If every lot in a catalogue is -guaranteed, the Important Notices in the sale catalogue will so state and this symbol will not be used for each lot.

Property in which Sotheby's has an Ownership Interest
Lots with this symbol indicate that Sotheby's owns the lot in whole or in part or has an economic interest in the lot equivalent to an ownership interest.

Irrevocable Bids
Lots with this symbol indicate that a party has provided Sotheby's with an irrevocable bid on the lot that will be executed during the sale. The irrevocable bidder, who may bid in excess of the irrevocable bid, will be compensated based on the final hammer price in the event he or she is not the successful bidder. If the irrevocable bidder is the successful bidder, he or she will be required to pay the full Buyer's Premium and will not be otherwise compensated. If the irrevocable bid is not secured until after the printing of the auction catalogue, a pre-lot announcement will be made indicating that there is an irrevocable bid on the lot.

Interested Parties
Lots with this symbol indicate that parties with a direct or indirect interest in the lot may be bidding on the lot, including (i) the beneficiary of an estate selling the lot, or (ii) the joint owner of a lot. If the interested party is the successful bidder, they will be required to pay the full Buyer's Premium. In certain instances, interested parties may have knowledge of the reserve. In the event the interested party's possible participation in the sale is not known until after the printing of the auction catalogue, a pre-lot announcement will be made indicating that interested parties may be bidding on the lot.

No Reserve
Unless indicated by a box (¡à), all lots in this catalogue are offered subject to a reserve. A reserve is the confidential hammer price established between Sotheby's and the seller and below which a lot will not be sold. The reserve is generally set at a percentage of the low estimate and will not exceed the low estimate for the lot. If any lots in the catalogue are offered without a reserve, these lots are indicated by a box (¡à). If all lots in the catalogue are offered without a reserve, a Special Notice will be included to this effect and the box symbol will not be used for each lot.

Property Subject to the Artist's Resale Right
Purchase of lots marked with this symbol (§]) will be subject to payment of the Artist's Resale Right, at a percentage of the hammer price calculated as follows:
Portion of the hammer price (in €)
Royalty Rate
From 0 to 50,000 4%
From 50,000.01 to 200,000 3%
From 200,000.01 to 350,000 1%
From 350,000.01 to 500,000 0.5%
Exceeding 500,000 0.25%

The Artist's Resale Right payable will be the aggregate of the amounts payable under the above rate bands, subject to a maximum royalty payable of 12,500 euros for any single work each time it is sold. The maximum royalty payable of 12,500 euros applies to works sold for 2 million euros and above. Calculation of the artist's resale right will be based on the pound sterling / Euro reference exchange rate quoted on the date of the sale by the European Central Bank.

Restricted Materials
Lots with this symbol have been identified at the time of cataloguing as containing organic material which may be subject to restrictions regarding import or export. The information is made available for the convenience of Buyers and the absence of the Symbol is not a warranty that there are no restrictions regarding import or export of the Lot; Bidders should refer to Condition 10 of the Conditions of Business for Buyers. Please also refer to the section on Endangered Species in the Buying at Auction Guide. As indicated in the Endangered Species section, Sotheby's is not able to assist buyers with the shipment of any lots with this symbol into the US.
A buyer's inability to export or import any lots with this symbol cannot justify a delay in payment or a sale's cancellation.

Monumental
Lots with this symbol may, in our opinion, require special handling or shipping services due to size or other physical considerations. Buyers are advised to inspect the lot and to contact Sotheby's prior to the sale to discuss any specific shipping requirements.
Please refer to VAT information for Buyers for VAT symbols used in this catalogue. Value Added Tax (VAT) may be payable on the hammer price and/or the buyer's premium. Buyer's premium may attract a charge in lieu of VAT. Please read carefully the "VAT INFORMATION FOR BUYERS" printed in this catalogue.


VAT AND OTHER TAX
INFORMATION FOR BUYERS

The following paragraphs are intended to give general guidance to buyers on the VAT and certain other potential tax implications of purchasing property at Sotheby's. The information concerns the most usual circumstances and is not intended to be complete. In all cases the relevant tax legislation takes precedence and the VAT rates in effect on the day of the auction will be the rates charged except for lots sold subject to Temporary Admission for which the applicable rate will be that in force at the time of collection. It should be noted that, for VAT purposes only, Sotheby's is not usually treated as an agent and most property is sold as if it is the property of Sotheby's.
In the following paragraphs, reference to VAT symbols shall mean those symbols located beside the lot number or the pre-sale estimates in the catalogue (or amending sale room notice).
1. PROPERTY WITH NO VAT SYMBOL
Where there is no VAT symbol, Sotheby's is able to use the Auctioneer's Margin Scheme and VAT will not normally be charged on the hammer price.
Sotheby's must bear VAT on the buyer's premium and hence will charge an amount in lieu of VAT at the standard rate on this premium. This amount will form part of the buyer's premium on our invoice and will not be separately identified. A limited range of goods, including most books, are not liable to VAT and therefore no amount in lieu of VAT will be added to the premium.
Please see 'Exports from the European Union' for the conditions to be fulfilled before the amount in lieu of VAT on the buyer's premium may be cancelled or refunded.
(VAT-registered buyers from within the European Union (EU) should note that the amount in lieu of VAT contained within the buyer's premium cannot be cancelled or refunded by Sotheby's or HM Revenue and Customs.)
Buyers requiring an invoice under the normal VAT rules, instead of a margin scheme invoice, should notify the Post Sale Service Group or the Client Accounts Department on the day of the auction and an invoice with VAT on the hammer price will be raised. Buyers requiring reinvoicing under the normal VAT rules subsequent to a margin scheme invoice having been raised should contact the Client Accounts Department for assistance.
2. PROPERTY WITH A ¢" SYMBOL
These items will be sold under the normal UK VAT rules and VAT will be charged at the standard rate on both the hammer price and buyer's premium.
Please see 'Exports from the European Union' for the conditions to be fulfilled before the VAT charged on the hammer price may be cancelled or refunded.
(VAT-registered buyers from other EU countries may have the VAT cancelled or refunded if they provide Sotheby's with their VAT registration number and evidence that the property has been removed from the UK within three months of the date of sale. The evidence of removal required is a certificate of shipment or, if the lots were carried by hand, proof of travel and completion of a form available from the Post Sale Service Group.
3. PROPERTY WITH A ¥á SYMBOL
Items sold to buyers whose address is in the EU will be assumed to be remaining in the EU. The property will be invoiced as if it had no VAT symbol (see 'Property with no VAT symbol' above). However, if the property is to be exported from the EU, Sotheby's will re-invoice the property under the normal VAT rules (see 'Property sold with a ¢" symbol' above) as requested by the seller.
Items sold to buyers whose address is outside the EU will be assumed to be exported from the EU. The property will be invoiced under the normal VAT rules (see 'Property sold with a ¢" symbol' above). Although the hammer price will be subject to VAT this will be cancelled or refunded upon export - see 'Exports from the European Union'. However, buyers who are not intending to export their property from the EU should notify our Client Accounts Department on the day of the sale and the property will be re-invoiced showing no VAT on the hammer price (see 'Property sold with no VAT symbol' above).
4. PROPERTY SOLD WITH A ¢' OR ¥Ø SYMBOL
These items have been imported from outside the EU to be sold at auction under Temporary Admission. When Sotheby's releases such property to buyers in the UK, the buyer will become the importer and must pay Sotheby's import VAT at the following rates on the hammer price:
¢' - the reduced rate
¥Ø - the standard rate
You should also note that the appropriate rate will be that in force on the date of collection of the property from Sotheby's and not that in force at the date of the sale.
These lots will be invoiced under the margin scheme. Sotheby's must bear VAT on the buyer's premium and hence will charge an amount in lieu of VAT at the standard rate on this premium. This amount will form part of the buyer's premium on our invoice and will not be separately identified.
(VAT-registered buyers from the EU should note that the import VAT charged on property released in the UK cannot be cancelled or refunded by Sotheby's, however you may be able to seek repayment) by applying to HM Revenue and Customs - see 'VAT Refunds from HM Revenue and Customs')
(VAT-registered buyers from the UK should note that the invoice issued by Sotheby's for these items is not suitable evidence in respect of import VAT.)
On request, immediately after sale, the Temporary Admission Department can either ask HM Revenue and Customs to generate a C79 certificate (for UK buyers), or obtain a copy of the import C88 (for other EU VAT registered buyers), which may be used to claim recovery of the VAT. Otherwise Sotheby's may re-invoice the lot as if it had been sold with a ¢" symbol and charge VAT at the standard rate on both the hammer price and premium and provide a tax invoice to the buyer. This may enable a buyer who is VAT registered elsewhere in the EU to avoid payment of VAT in the United Kingdom. Re-invoicing in this way may make the lot ineligible to be re-sold using the margin scheme.
Sotheby's will transfer all lots sold subject to Temporary Admission to its Customs warehouse immediately after sale.
5. EXPORTS FROM THE EUROPEAN UNION
The following amounts of VAT may be cancelled or refunded provided Sotheby's receive the appropriate export documents within the time limits stated:
Property with no VAT symbol (see paragraph 1)
The amount in lieu of VAT charged on Buyers Premium may be refunded provided the purchaser resides outside of the United Kingdom and the property is exported from the EU within 3 months of the sale. Sotheby's must be provided with the appropriate proof of export immediately after export of the goods.
Property with a ¢" symbol
The VAT charged upon the hammer price may be refunded provided the purchaser resides outside of the United Kingdom and the property is exported from the EU within 3 months of the sale. Sotheby's must be provided with the appropriate proof of export immediately after export of the goods.
Property with a ¢' or a ¥Ø symbol
The Temporary Admission VAT charged on the hammer price may be refunded under the following circumstances:
• Sotheby's is instructed to ship the property to a place outside the EU
• The property is hand carried from the UK directly outside the EU and Sotheby's pre lodge the export entry with HMRC
• The VAT liability is transferred to your shippers own Temporary Admission or Customs Warehouse arrangement prior to collection from Sotheby's
Under all other circumstances Sotheby's is required to complete the importation and pay the VAT due to HM Revenue and Customs prior to the property leaving its premises and so a VAT refund will not be possible.
Proof of export required
• for lots sold under the margin scheme (no VAT symbol) or the normal VAT rules (¢" symbol), Sotheby's is provided with appropriate documentary proof of export from the EU. Buyers carrying their own property should obtain hand-carry papers from the Shipping department to facilitate this process.
• for lots sold under Temporary Admission (¢' or ¥Ø symbols), and subsequently transferred to Sotheby's Customs Warehouse (into Bond). The property must be shipped as described above in the paragraph headed Property with a ¢' or a ¥Ø symbol.
• buyers carrying their own property must obtain hand-carry papers from the Shipping Department for which a small administrative charge will be made. The VAT refund will be processed once the appropriate paperwork has been returned to Sotheby's.
• Sotheby's is not able to cancel or refund any VAT charged on sales made to UK or EU private residents unless the lot is subject to Temporary Admission and the property is exported from the EU and the requisite export papers provided to Sotheby's within one month of collection of the property.
• Sotheby's is not able to cancel or refund any VAT charged on sales to UK or EU private residents unless the lot is subject to Temporary Admission and is shipped as described above.
Buyers intending to export, repair, restore or alter lots sold under Temporary Admission (¢' or ¥Ø symbols) and therefore transferred to Customs Warehouse after sale should notify the Shipping Department before collection. Failure to do so may result in the import VAT becoming payable immediately and Sotheby's being unable to refund the VAT charged on deposit.
6. VAT REFUNDS FROM HM REVENUE AND CUSTOMS
Where VAT charged cannot be cancelled or refunded by Sotheby's, it may be possible to seek repayment from HM Revenue and Customs. Repayments in this manner are limited to businesses located outside the UK.
Claim forms are available from:
HM Revenue and Customs
VAT Overseas Repayments Unit
PO Box 34, Foyle House
Duncreggan Road, Londonderry
Northern Ireland, BT48 7AE
Tel: +44 (0)2871 305100
Fax: +44 (0)2871 305101
[email protected]
7. SALES AND USE TAXES
Buyers from outside the UK should note that local sales taxes or use taxes may become payable upon import of items following purchase (for example, the Use Tax payable on import of purchased items to certain states of the USA). Buyers should obtain their own advice in this regard.
Sotheby's is registered to collect sales tax in the states of New York and California, USA. In the event that Sotheby's ships items for a purchaser in this sale to a destination within New York State USA, or California State USA, Sotheby's is obliged to collect the respective state's sales or use tax on the total purchase price and shipping costs, including insurance, of such items, regardless of the country in which the purchaser resides or is a citizen. Where the purchaser has provided Sotheby's with a valid Resale Exemption Certificate prior to the release of the property, sales and use tax will not be charged. Clients to whom this tax might apply are advised to contact the Post Sale Manager listed in the front of this catalogue before arranging shipping.


CONDITIONS OF BUSINESS FOR BUYERS

1. INTRODUCTION
(a) Sotheby's and Sellers' contractual relationship with prospective Buyers is governed by:
(i) these Conditions of Business;
(ii) the Conditions of Business for Sellers displayed in the saleroom and which are available upon request from Sotheby's UK salerooms or by telephoning +44 (0)20 7293 6152;
(iii) Sotheby's Authenticity Guarantee as printed in the sale catalogue;
(iv) any additional notices and terms printed in the sale catalogue, including Buying at Auction and,
(v) in respect of online bidding via the internet, the BIDnow Conditions on the Sotheby's website, in each case as amended by any saleroom notice or auctioneer's announcement at the auction.
(b) As auctioneer, Sotheby's acts as agent for the Seller. A sale contract is made directly between the Seller and the Buyer. However, Sotheby's may own a lot (and in such circumstances acts in a principal capacity as Seller) and/or may have a legal, beneficial or financial interest in a lot as a secured creditor or otherwise.
2. COMMON TERMS IN THESE CONDITIONS OF BUSINESS:
Bidder is any person considering, making or attempting to make a bid, by whatever means, and includes Buyers;
Buyer is the person who makes the highest bid or offer accepted by the auctioneer, and includes such person's principal when bidding as agent;
Buyer's Expenses are any costs or expenses due to Sotheby's from the Buyer and any Artist's Resale Right levy payable in respect of the sale of the Property, including an amount in respect of any applicable VAT thereon;
Buyer's Premium is the commission payable by the Buyer on the Hammer Price at the rates set out in Buying at Auction;
Counterfeit is as defined in Sotheby's Authenticity Guarantee;
Hammer Price is the highest bid accepted by the auctioneer by the fall of the hammer (in the case of wine, as apportioned pro-rata by reference to the number of separately identified items in that lot), or in the case of a post-auction sale, the agreed sale price;
Purchase Price is the Hammer Price and applicable Buyer's Premium and VAT;
Reserve is the (confidential) minimum Hammer Price at which the Seller has agreed to sell a lot;
Seller is the person offering a lot for sale (including their agent (other than Sotheby's), executors or personal representatives);
Sotheby's means Sotheby's, the unlimited company which has its registered office at 34-35 New Bond Street, London W1A 2AA;
Sotheby's Company means both Sotheby's in the USA and any of its subsidiaries (including Sotheby's in London) and Sotheby's Diamonds S.A. and its subsidiaries (in each case "subsidiary" having the meaning of Section 736 of the Companies Act 1985);
VAT is Value Added Tax at the prevailing rate. Further information is contained in Buying at Auction.
3. DUTIES OF BIDDERS AND OF SOTHEBY'S IN RESPECT OF ITEMS FOR SALE
(a) Sotheby's knowledge in relation to each lot is partially dependent on information provided to it by the Seller, and Sotheby's is not able to and does not carry out exhaustive due diligence on each lot. Bidders acknowledge this fact and accept responsibility for carrying out inspections and investigations to satisfy themselves as to the lots in which they may be interested.
(b) Each lot offered for sale at Sotheby's is available for inspection by Bidders prior to the sale. Sotheby's accepts bids on lots solely on the basis that Bidders (and independent experts on their behalf, to the extent appropriate given the nature and value of the lot and the Bidder's own expertise) have fully inspected the lot prior to bidding and have satisfied themselves as to both the condition of the lot and the accuracy of its description.
(c) Bidders acknowledge that many lots are of an age and type which means that they are not in perfect condition. All lots are offered for sale in the condition they are in at the time of the auction (whether or not Bidders are in attendance at the auction). Condition reports may be available to assist when inspecting lots. Catalogue descriptions and condition reports may on occasions make reference to particular imperfections of a lot, but Bidders should note that lots may have other faults not expressly referred to in the catalogue or condition report. Illustrations are for identification purposes only and will not convey full information as to the actual condition of lots.
(d) Information provided to Bidders in respect of any lot, including any estimate, whether written or oral and including information in any catalogue, condition or other report, commentary or valuation, is not a representation of fact but rather is a statement of opinion genuinely held by Sotheby's. Any estimate 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 in Sotheby's absolute discretion.
(e) No representations or warranties are made by Sotheby's or the Seller as to whether any lot is subject to copyright or whether the Buyer acquires copyright in any lot.
(f) Subject to th-e matters referred to in Conditions 3(a) to 3(e) above and to the specific exclusions contained at Condition 4 below, Sotheby's shall exercise such reasonable care when making express statements in catalogue descriptions or condition reports as is consistent with its role as auctioneer of lots in the sale to which these Conditions relate, and in the light of (i) the information provided to it by the Seller; (ii) scholarship and technical knowledge; and (iii) the generally accepted opinions of relevant experts, in each case at the time any such express statement is made.
4. EXCLUSIONS AND LIMITATIONS OF LIABILITY TO BUYERS
(a) Sotheby's shall refund the Purchase Price to the Buyer in circumstances where it deems that the lot is a Counterfeit and each of the conditions of the Authenticity Guarantee has been satisfied.
(b) In the light of the matters in Condition 3 above and subject to Conditions 4(a) and 4(e), neither any Sotheby's Company nor the Seller:
(i) is liable for any errors or omissions in information provided to Bidders by Sotheby's (or any Sotheby's Company), whether orally or in writing, whether negligent or otherwise, except as set out in Condition 3(f) above;
(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 law) other than the express warranties given by the Seller to the Buyer in Condition 2 of the Sellers' Conditions of Business;
(iii) accepts responsibility to any Bidders in respect of acts or omissions (whether negligent or otherwise) by Sotheby's in connection with the conduct of auctions or for any matter relating to the sale of any lot.
(c) Unless Sotheby's owns a lot offered for sale, it is not responsible for any breach of these conditions by the Seller.
(d) Without prejudice to Condition 4(b), any claim against Sotheby's or the Seller by a Bidder is limited to the Purchase Price with regard to that lot. Neither Sotheby's nor the Seller shall under any circumstances be liable for any consequential losses.
(e) None of this Condition 4 shall exclude or limit Sotheby's liability in respect of any fraudulent misrepresentation made by Sotheby's or the Seller, or in respect of death or personal injury caused by the negligent acts or omissions of Sotheby's or the Seller.
5. BIDDING AT AUCTION
(a) Sotheby's has absolute discretion to refuse admission to the auction. Bidders must complete a Paddle Registration Form and supply such information and references as required by Sotheby's. Bidders act as principal unless they have Sotheby's prior written consent to bid as agent for another party. Bidders are personally liable for their bid and are jointly and severally liable with their principal if bidding as agent.
(b) Sotheby's advises Bidders to attend the auction but will seek to carry out absentee written bids which are in pounds sterling and, in Sotheby's opinion, clear and received sufficiently in advance of the sale of the lot, endeavouring to ensure that the first received of identical written bids has priority.
(c) Where available, written, telephone and online bids are offered as an additional service for no extra charge, at the Bidder's risk and shall be undertaken with reasonable care subject to Sotheby's other commitments at the time of the auction; Sotheby's therefore cannot accept liability for failure to place such bids save where such failure is unreasonable. Telephone and online bids may be recorded. Online bids ("BIDnow") are made subject to the BIDnow Conditions available on the Sotheby's website or upon request. The BIDnow Conditions apply in relation to online bids, in addition to these Conditions of Business.
6. CONDUCT OF THE AUCTION
(a) Unless otherwise specified, all lots are offered subject to a Reserve, which shall be no higher than the low presale estimate at the time of the auction.
(b) The auctioneer has discretion at any time to refuse any bid, withdraw any lot, re-offer a lot for sale (including after the fall of the hammer) if he believes there may be error or dispute, and take such other action as he reasonably thinks fit.
(c) The auctioneer will commence and advance the bidding at levels and in increments he considers appropriate and is entitled to place a bid or series of bids on behalf of the Seller up to the Reserve on the lot, without indicating he is doing so and whether or not other bids are placed.
(d) Subject to Condition 6(b), the contract between the Buyer and the Seller is concluded on the striking of the auctioneer's hammer, whereupon the Buyer becomes liable to pay the Purchase Price.
(e) Any post-auction sale of lots offered at auction shall incorporate these Conditions as if sold in the auction.
7. PAYMENT AND COLLECTION
(a) Unless otherwise agreed, payment of the Purchase Price for a lot and any Buyer's Expenses are due by the Buyer in pounds sterling immediately on conclusion of the auction (the "Due Date") notwithstanding any requirements for export, import or other permits for such lot.
(b) Title in a purchased lot will not pass until Sotheby's has received the Purchase Price and Buyer's Expenses for that lot in cleared funds. Sotheby's is not obliged to release a lot to the Buyer until title in the lot has passed and appropriate identification has been provided, and any earlier release does not affect the passing of title or the Buyer's unconditional obligation to pay the Purchase Price and Buyer's Expenses.
(c) The Buyer is obliged to arrange collection of purchased lots no later than thirty (30) calendar days after the date of the auction. Purchased lots are at the Buyer's risk (and therefore their sole responsibility for insurance) from the earliest of i) collection or ii) the thirty-first calendar day after the auction. Until risk passes, Sotheby's will compensate the Buyer for any loss or damage to the lot up to a maximum of the Purchase Price paid. Buyers should note that Sotheby's assumption of liability for loss or damage is subject to the exclusions set out in Condition 6 of the Conditions of Business for Sellers.
(d) For all items stored by a third party and not available for collection from Sotheby's premises, the supply of authority to release to the Buyer shall constitute collection by the Buyer.
(e) All packing and handling is at the Buyer's risk. Sotheby's will not be liable for any acts or omissions of third party packers or shippers.
(f) The Buyer of any firearm is solely responsible for obtaining all valid firearm or shotgun certificates or certificates of registration as a firearms dealer, as may be required by the regulations in force in England and Wales or Scotland (as applicable) relating to firearms or other weapons at the time of the sale, and for complying with all such regulations, whether or not notice of such is published in the Sale Catalogue. Sotheby's will not deliver a firearm to a Buyer unless the Buyer has first supplied evidence to Sotheby's satisfaction of compliance with this Condition.
8. REMEDIES FOR NON-PAYMENT
Without prejudice to any rights the Seller may have, if the Buyer without prior agreement fails to make payment for the lot within five days of the auction, Sotheby's may in its sole discretion (having informed the Seller) exercise one or more of the following remedies:
(a) store the lot at its premises or elsewhere at the Buyer's sole risk and expense;
(b) cancel the sale of the lot;
(c) set off any amounts owed to the Buyer by a Sotheby's Company against any amounts owed to Sotheby's by the Buyer in respect of the lot;
(d) apply any payments made to Sotheby's by the Buyer as part of the Purchase Price and Buyer's expenses towards that or any other lot purchased by the Buyer, or to any shortfall on the resale of any lot pursuant to paragraph (h) below, or to any damages suffered by Sotheby's as a result of breach of contract by the Buyer;
(e) reject future bids from the Buyer or render such bids subject to payment of a deposit;
(f) charge interest at 6% per annum above HSBC Bank plc Base Rate from the Due Date to the date the Purchase Price and relevant Buyer's Expenses are received in cleared funds;
(g) exercise a lien over any of the Buyer's property which is in the possession of a Sotheby's Company. Sotheby's shall inform the Buyer of the exercise of any such lien and within 14 days of such notice may arrange the sale of such property and apply the proceeds to the amount owed to Sotheby's;
(h) resell the lot by auction or private sale, with estimates and reserves at Sotheby's discretion. In the event such resale is for less than the Purchase Price and Buyer's Expenses for that lot, the Buyer will remain liable for the shortfall together with all costs incurred in such resale;
(i) commence legal proceedings to recover the Purchase Price and Buyer's Expenses for that lot, together with interest and the costs of such proceedings on a full indemnity basis; or
(j) release the name and address of the Buyer to the Seller to enable the Seller to commence legal proceedings to recover the amounts due and legal costs. Sotheby's will take reasonable steps to notify the Buyer prior to releasing such details to the Seller.
9. FAILURE TO COLLECT PURCHASES
(a) If the Buyer pays the Purchase Price and Buyer's Expenses but fails to collect a purchased lot within thirty (30) calendar days of the auction, the lot will be stored at the Buyer's expense (and risk) at Sotheby's or with a third party.
(b) If a purchased lot is paid for but not collected within six months of the auction, the Buyer authorises Sotheby's, having given notice to the Buyer, to arrange a resale of the item by auction or private sale, with estimates and reserves at Sotheby's discretion. The proceeds of such sale, less all costs incurred by Sotheby's, will be forfeited unless collected by the Buyer within two years of the original auction.
10. EXPORT AND PERMITS
It is the Buyer's sole responsibility to identify and obtain any necessary export, import, firearm, endangered species or other permit for the lot. Any symbols or notices in the sale catalogue reflect Sotheby's reasonable opinion at the time of cataloguing and offer Bidders general guidance only. Without prejudice to Conditions 3 and 4 above, Sotheby's and the Seller make no representations or warranties as to whether any lot is or is not subject to export or import restrictions or any embargoes. The denial of any permit or licence shall not justify cancellation or rescission of the sale contract or any delay in payment.
11. GENERAL
(a) All images and other materials produced for the auction are the copyright of Sotheby's, for use at Sotheby's discretion.
(b) Notices to Sotheby's should be in writing and addressed to the department in charge of the sale, quoting the reference number specified at the beginning of the sale catalogue. Notices to Sotheby's clients shall be addressed to the last address formally notified by them to Sotheby's.
(c) Should any provision of these Conditions of Business be held unenforceable for any reason, the remaining provisions shall remain in full force and effect.
(d) These Conditions of Business are not assignable by any Buyer without Sotheby's prior written consent, but are binding on Buyers' successors, assigns and representatives. No act, omission or delay by Sotheby's shall be deemed a waiver or release of any of its rights.
(e) The Contracts (Rights of Third Parties) Act 1999 is excluded by these Conditions of Business and shall not apply to any contract made pursuant to them.
(f) The materials listed in Condition 1(a) above set out the entire agreement and understanding between the parties with respect to the subject matter hereof. It is agreed that, save in respect of liability for fraudulent misrepresentation, no party has entered into any contract pursuant to these terms in reliance on any representation, warranty or undertaking which is not expressly referred to in such materials.
12. DATA PROTECTION
Sotheby's will use information provided by its clients (or which Sotheby's otherwise obtains relating to its clients) for the provision of auction and other art-related services, loan and insurance services, client administration, marketing and otherwise to manage and operate its business, or as required by law. This will include information such as the client's name and contact details, proof of identity, financial information, records of the client's transactions, and preferences. Some gathering of information about Sotheby's clients will take place using technical means to identify their preferences in order to provide a higher quality of service to them. Sotheby's may also disclose the client information to other Sotheby's Companies and/or third parties acting on their behalf to provide services for these purposes listed above.
Sometimes, Sotheby's may also disclose this information to carefully selected third parties for their own marketing purposes. If you do not wish your details to be used for this purpose, please email [email protected].
If the client provides Sotheby's with information that is defined by European data protection laws as "sensitive", the client agrees that it may be used for the purposes set out above.
In the course of these disclosures, personal data collected in the European Economic Area may be disclosed to countries outside the European Economic Area. Although such countries may not have legislation that protects a client's personal information, Sotheby's shall take reasonable steps to keep such information secure and in accordance with European data protection principles. By agreeing to these Conditions of Business, the client is agreeing to such disclosure.
Please be aware that Sotheby's may film auctions or other activities on Sotheby's premises and that such recordings may be transmitted over the Internet via Sotheby's website. Telephone bids may be recorded.
Under European data protection laws, a client may object, by request and free of charge, to the processing of their information for certain purposes, including direct marketing, and may access and rectify personal data relating to them and may obtain more information about Sotheby's data protection policies by writing to Sotheby's, 34-35 New Bond Street, London W1A 2AA, or 1334 York Avenue, New York, NY 10021, Attn: Compliance, or emailing: [email protected].
13. LAW AND JURISDICTION
Governing Law These Conditions of Business and all aspects of all matters, transactions or disputes to which they relate or apply (including any online bids in the sale to which these Conditions apply) shall be governed by and interpreted in accordance with English law.
Jurisdiction For the benefit of Sotheby's, all Bidders and Sellers agree that the Courts of England are to have exclusive jurisdiction to settle all disputes arising in connection with all aspects of all matters or transactions to which these Conditions of Business relate or apply. All parties agree that Sotheby's shall retain the right to bring proceedings in any court other than the Courts of England.
Service of Process All Bidders and Sellers irrevocably consent to service of process or any other documents in connection with proceedings in any court by facsimile transmission, personal service, delivery by mail or in any other manner permitted by English law, the law of the place of service or the law of the jurisdiction where proceedings are instituted, at the last address of the Buyer or Seller known to Sotheby's or any other usual address.


SOTHEBY'S GREENFORD PARK STORAGE AND COLLECTION INFORMATION

Smaller items can normally be collected from New Bond Street, however large items may be sent to Sotheby's Greenford Park Fine Art Storage Facility. If you are in doubt about the location of your purchases please contact the Sale Administrator (see front of catalogue) prior to collection.

COLLECTION FROM NEW BOND STREET

Lots will be released to you or your authorised representative when full and cleared payment has been received by Sotheby's, together with settlement of any removal, interest, handling and storage charges thereon, appropriate identification has been provided and a release note has been produced by our Post Sale Service Group at New Bond Street, who are open Monday to Friday 9.00am to 5.00pm.
Any purchased lots that have not been collected within 30 days from the date of the auction will be subject to handling and storage charges at the rates set out below. In addition all purchased lots that have not been collected from our New Bond Street premises within 90 days of the auction will be transferred to Sotheby's Greenford Park Fine Art Storage Facility.
Collect your property from:
Sotheby's Property Collection
Opening hours:
Monday to Friday 9.00am to 5.00pm
34-35 New Bond Street
London, W1A 2AA
Tel: +44 (0)20 7293 5358
Fax: +44 (0)20 7293 5933

COLLECTION FROM SOTHEBY'S GREENFORD PARK FINE ART STORAGE FACILITY

Lots will be released to you or your authorised representative when full and cleared payment has been received by Sotheby's, together with settlement of any removal, interest, handling and storage charges thereon, appropriate identification has been provided and a release note has been produced by our Post Sale Service Group at New Bond Street, who are open Monday to Friday 9.00am to 5.00pm.
Purchasers must ensure that their payment has been cleared prior to collection and that a release note has been forwarded to Sotheby's Greenford Park by our Post Sale Service Group at Sotheby's New Bond Street. Buyers who have established credit arrangements with Sotheby's may collect purchases prior to payment, although a release note is still required from our Post Sale Service Group as above.
Any purchased lots that have not been collected within 30 days from the date of the auction will be subject to handling and storage charges at the rates set out below.
Collect your property from: Sotheby's Greenford Park Fine Art Storage Facility
Opening hours:
Monday to Friday 8.30am to 4.30pm
Sotheby's Greenford Park,
13 Ockham Drive, Greenford, Middlesex, UB6 0FD
Tel: +44 (0)20 7293 5600
Fax: +44 (0)20 7293 5625

ROUTE GUIDANCE TO SOTHEBY'S GREENFORD PARK FINE ART STORAGE FACILITY

From Bond Street head towards Regents Park, take the A40 Marylebone Road to Western Avenue. Take the exit off the A40 signposted Greenford A4127. At the roundabout take the third exit signposted Harrow and Sudbury, A4127 onto Greenford Road. Go under the railway bridge and at the traffic lights turn first left into Rockware Avenue. At the T Junction turn right onto Oldfield Lane North and then left into Ockham Drive. Stop at the security barrier and say you are visiting Sotheby's. Once cleared, travel 300 yards down the road and Unit 13 is situated on the left hand side.
STORAGE CHARGES
Any purchased lots that have not been collected within 30 days from the date of the auction will be subject to handling and storage charges at the following rates:
Small items (such as jewellery, watches, books or ceramics): handling fee of £20 per lot plus storage charges of £2 per lot per day.
Medium items (such as most paintings or small items of furniture): handling fee of £30 per lot plus storage charges of £4 per lot per day.
Large items (items that cannot be lifted or moved by one person alone): handling fee of £40 per lot plus storage charges of £8 per lot per day.
Oversized items (such as monumental sculptures): handling fee of £80 per lot plus storage charges of £10 per lot per day.
A lot's size will be determined by Sotheby's on a case by case basis (typical examples given above are for illustration purposes only).
All charges are subject to VAT, where applicable. All charges are payable to Sotheby's at our Post Sale Service Group in New Bond Street.
Storage charges will cease for purchased lots which are shipped through Sotheby's Shipping Logistics from the date on which we have received a signed quote acceptance from you.

LIABILITY FOR LOSS OR DAMAGE

Buyers are reminded that Sotheby's accepts liability for loss or damage to lots for a maximum period of thirty (30) calendar days after the date of the auction. Please refer to Condition 7 of the Conditions of Business for Buyers.

SOTHEBY'S AUTHENTICITY GUARANTEE

If Sotheby's sells an item which subsequently is shown to be a "counterfeit", subject to the terms below Sotheby's will set aside the sale and refund to the Buyer the total amount paid by the Buyer to Sotheby's for the item, in the currency of the original sale.
For these purposes, "counterfeit" means a lot that in Sotheby's reasonable opinion is an imitation created to deceive as to authorship, origin, date, age, period, culture or source, where the correct description of such matters is not reflected by the description in the catalogue (taking into account any Glossary of Terms). No lot shall be considered a counterfeit by reason only of any damage and/or restoration and/or modification work of any kind (including repainting or over-painting).
Please note that this Guarantee does not apply if either:
(i) the catalogue description was in accordance with the generally accepted opinion(s) of scholar(s) and expert(s) at the date of the sale, or the catalogue description indicated that there was a conflict of such opinions; or
(ii) the only method of establishing at the date of the sale that the item was a counterfeit would have been by means of processes not then generally available or accepted, unreasonably expensive or impractical to use; or likely to have caused damage to the lot or likely (in Sotheby's reasonable opinion) to have caused loss of value to the lot; or
(iii) there has been no material loss in value of the lot from its value had it been in accordance with its description.

This Guarantee is provided for a period of five (5) years after the date of the relevant auction, is solely for the benefit of the Buyer and may not be transferred to any third party. To be able to claim under this Guarantee, the Buyer must:
(i) notify Sotheby's in writing within three (3) months of receiving any information that causes the Buyer to question the authenticity or attribution of the item, specifying the lot number, date of the auction at which it was purchased and the reasons why it is thought to be counterfeit; and
(ii) return the item to Sotheby's in the same condition as at the date of sale to the Buyer and be able to transfer good title in the item, free from any third party claims arising after the date of the sale.

Sotheby's has discretion to waive any of the above requirements. Sotheby's may require the Buyer to obtain at the Buyer's cost the reports of two independent and recognised experts in the field, mutually acceptable to Sotheby's and the Buyer. Sotheby's shall not be bound by any reports produced by the Buyer, and reserves the right to seek additional expert advice at its own expense. In the event Sotheby's decides to rescind the sale under this Guarantee, it may refund to the Buyer the reasonable costs of up to two mutually approved independent expert reports.
4/08 NBS_GUARANTEE MAIN


IMPORTANT NOTICES

ESTIMATES IN EUROS AND US DOLLARS

As a guide to potential buyers, estimates for this sale are also shown in Euros and US Dollars. The estimates printed in the catalogue in Pounds Sterling have been converted at the following rate, which was current at the time of printing. These estimates may have been rounded:
£1 = US$1.4509
£1 = €1.269
By the date of the sale this rate is likely to have changed, and buyers are recommended to check before bidding.
During the sale Sotheby's may provide a screen to show currency conversions as bidding progresses. This is intended for guidance only and all bidding will be in Pounds Sterling. Sotheby's is not responsible for any error or omissions in the operation of the currency converter.
Payment for purchases is due in Pounds Sterling, however the equivalent amount in any other currency will be accepted at the rate prevailing on the day that payment is received in cleared funds.
Settlement is made to vendors in the currency in which the sale is conducted, or in another currency on request at the rate prevailing on the day that payment is made by Sotheby's.

LIABILITY FOR LOSS OR DAMAGE FOR PURCHASED LOTS

Purchasers are requested to arrange clearance as soon as possible and are reminded that Sotheby's accepts liability for loss or damage to lots for a maximum period of thirty (30) calendar days following the date of the auction. Please refer to condition 7 of the Conditions of Business for Buyers.

COLLECTION OF LOTS MARKED 'W'

All purchased lots marked in the catalogue with a W will be transferred from the saleroom to Sotheby's Greenford Park Fine Art Storage Facility after 5 pm on the day of the sale. Collection can be made from Sotheby's Greenford Park two days after the sale, but not on the day immediately following the sale.
Exceptions to this procedure will be notified by auction room notice and announced at the time of the sale. After 30 days storage charges will commence.
Please see the Buying at Auction guide for further information.


SAFETY AT SOTHEBY'S

Sotheby's is concerned for your safety while you are on our premises and we endeavour to display items safely so far as is reasonably practicable. Nevertheless, should you handle any items on view at our premises, you do so at your own risk.
Some items can be large and/or heavy and can be dangerous if mishandled. Should you wish to view or inspect any items more closely please ask for assistance from a member of Sotheby's staff to ensure your safety and the safety of the property on view.
Some items on view may be labelled "PLEASE DO NOT TOUCH". Should you wish to view these items you must ask for assistance from a member of Sotheby's staff who will be pleased to assist you. Thank you for your co-operation.
11/10 NBS_NOTICE_€ & $US


GLOSSARY OF TERMS

The following are examples of the terminology used in this catalogue. Any statement as to authorship, attribution, origin, date, age, provenance and condition is a statement of opinion and is not to be taken as a statement of fact.
Please read carefully the terms of the Authenticity Guarantee and the Conditions of Business for Buyers set out in this catalogue, in particular Conditions 3 and 4.
1. GIOVANNI BELLINI
In our opinion a work by the artist. (When the artist's forename(s) is not known, a series of asterisks, followed by the surname of the artist, whether preceded by an initial or not, indicates that in our opinion the work is by the artist named.
2. ATTRIBUTED TO GIOVANNI BELLINI
In our opinion probably a work by the artist but less certainty as to authorship is expressed than in the preceding category.
3. STUDIO OF GIOVANNI BELLINI
In our opinion a work by an unknown hand in the studio of the artist which may or may not have been executed under the artist's direction.
4. CIRCLE OF GIOVANNI BELLINI
In our opinion a work by an as yet unidentified but distinct hand, closely associated with the named artist but not necessarily his pupil.
5. STYLE OF............; FOLLOWER OF GIOVANNI BELLINI
In our opinion a work by a painter working in the artist's style, contemporary or nearly contemporary, but not necessarily his pupil.
6. MANNER OF GIOVANNI BELLINI
In our opinion a work in the style of the artist and of a later date.
7. AFTER GIOVANNI BELLINI
In our opinion a copy of a known work of the artist.
8. The term signed and/or dated and/or inscribed means that in our opinion the signature and/or date and/or inscription are from the hand of the artist.
9. The term bears a signature and/or date and/or inscription means that in our opinion the signature and/or date and/or inscription have been added by another hand.
10. Dimensions are given height before width
1/03 NBS_GLOS_OMP
In recognition of the high standards of business administration and our compliance with all required customs protocols and procedures, Sotheby's UK
has been awarded the European Union Authorised Economic Operator status by Her Majesty's Revenue and Customs.
Sotheby's UK is committed to improving its sustainability, conserving resources and reducing the environmental impact of its various operations. A copy of Sotheby's Environmental Policy is available on request. Main Enquiries: +44 (0)20 7293 5000.
Photography
Brian Watt
Catalogue Designer
James Davis
Colour Editor
James Stabler
Production Controller
Emilie Ludot


INTERNATIONAL DEPARTMENTS

For a full listing of our offices and salerooms worldwide with detailed information on all of Sotheby's services, visit sothebys.com
OLD MASTER PAINTINGS
London
Alexander Bell
George Gordon
Arabella Chandos
Andrew Fletcher
Cecilia Treves
Chloe Stead
Georgina Eliot
Alice Herford
+44 (0)20 7293 6414
PRIVATE TREATY SALES
James Macdonald
+44 (0)20 7293 5887
New York
George Wachter
Christopher Apostle
Edoardo Roberti
Andrea Kust
Beatrice Stern
Calvine Harvey
David Pollack
Jonquil O'Reilly
+1 212 606 7230
Amsterdam
Judith Niessen
+31 20 550 2203
Brussels
Marianna Lora
+322 627 7187


Paris
Pierre Etienne
Lucia Mestre
+33 1 5305 53 26
Madrid
Marta Oliden
+34 91 576 5714
Milan
Alberto Chiesa
+39 02 2950 0207
Monaco
Mark Armstrong
+37 7 9330 8880
Geneva
Emily Black
+41 22 908 4849
BRITISH PAINTINGS
London
Julian Gascoigne
David Moore-Gwyn (consultant)
+44 (0)20 7293 6414


BRITISH DRAWINGS, WATERCOLOURS AND PORTRAIT MINIATURES
London
Mark Griffith-Jones
+44 (0)20 7293 5083
OLD MASTER DRAWINGS
London & New York
Gregory Rubinstein
Cristiana Romalli
Claire Anderson
Alexander Faber
+44 (0)20 7293 6450
Paris
Pierre Etienne
Lucia Mestre
+33 1 5305 53 26
Amsterdam
Judith Niessen
+31 20 550 2203


FORTHCOMING AUCTIONS
A comprehensive calendar of international auctions, in addition to all sale results, can be viewed at sothebys.com
OLD MASTERS EVENING SALE
7 December 2016
London

OLD MASTERS DAY SALE
8 December 2016
London

OLD MASTERS
January 2017
New York

INDEX
Aelst 153
Anesi 192
Antwerp School 126

Backhuysen 158
Baldrighi 201
Bastarolo 167
Batoni 190
Beerstraaten 152
Bigg 219
Bloemaert 121
Bosschaert 125
Bray 140
Brueghel 119
Brunswick Monogrammist 116

Camuccini 206
Carreño 180
Castilian School 163
Catena 165
Cleve 104
Coecke van Aelst 106
Colson 204
Conca 189
Constable 218
Crespi 170

Dael 213
Dou 123
Duck 136
Dutch or English School 145
Dyck 127

Ferg 144
Ferneley 217
Florentine School 174, 179
Francken 117

Gainsborough 209
Garofalo 164
Gassel 101
Gerung 107
Goya 194
Gramatica 169
Greco 183
Greuze 205
Grimmer 108
Guardi 200
Gundelach 118

Hamen 181
Hanneman 128
Heusch 141
Hickey 214


Italian School 173

Janneck 193
Joli 199

Kauffmann 202
Kessel 132
Key 111
Kraen 133

Lacroix 197
Landseer 220
Lely 115
Lopez 184

Maes 137
Maratta 187
Martin 207
Massys 103
Master of Sainte Gudule 105
Master of the Prodigal Son 109
Molenaer 151
Morland 215
Morone 161
Mulier 154

Oosten 124
Oudry 196

Palamedesz 159
Parra 182
Peake 110
Peroni 188
Piombo 168
Polo 186
Ponce 185
Pozzoserrato 166
Priwitzer 113

Raeburn 211, 212
Rembrandt 130
Reni 171
Ribera 177
Rigaud 203
Ring 150
Rotius 135
Rubens 129

Sassoferrato 178
Schedoni 176
Schütz 191
Seeman 208
Sirani 172
Son 134
Sonjé 148
Steen 138

Teniers 160
Thulden 122
Tintoretto 175

Uyl 149

Valckenborch 102
Valckert 143
Veerendael 156
Velde 157
Verbeeck 147
Vernet 195, 198
Vitringa 155
Walker 112, 114
Ward 216
Weenix 139
Wijnen 131
Willaerts 146
Wootton 210
Wouwerman 142
Wtewael 120
Zanino 162


WHAT INFORMATION COLLECTED ON THE SOTHEBY'S ON INVALUABLE ONLINE PLATFORM DOES SOTHEBY'S RECEIVE FROM INVALUABLE

User-Provided Information
Invaluable collects Personal Information about Invaluable users who register and/or bid via the Sotheby's on Invaluable Online Platform and may share that information with Sotheby's. Invaluable may collect such Personal information, for example, through users' activities, transactions and completion of online forms on the Platform. Such information is collected, for example, when users register to bid, place bids, are successful in purchasing at auction, submit a comment or question to Invaluable, contact Invaluable or Sotheby's for customer service or use any similar "contact us" feature, send Sotheby's or Invaluable an email, or in any other way submit Personal Information to Invaluable related to their use of the Sotheby's on Invaluable Online Platform.

How is your Personal Information used
Sotheby's will use the Personal Information that Invaluable shares with us to provide services to you. For example, Sotheby's may use your Personal Information to respond to your requests and inquiries, to provide you with client service that you request, and to prevent, detect and to investigate fraud, security breaches, or other potentially prohibited or illegal behavior and to enforce our policies. We will also use your Personal Information to maintain our internal record keeping, to run credit checks and to report to credit bureaus. Late payments, missed payments, or other defaults in connection with your transaction activity on the Sotheby's on Invaluable Online Platform may be reflected in your credit report. We may match or combine information collected from you through different means or at different times, including both Personal Information and information about your use of the Platform, and use such information along with information obtained from other sources, including from third parties.

In addition, we may use your Personal Information to contact you via email, telephone or postal mail or as you otherwise authorize us in order to inform you about certain other Sotheby's events and services.

Marketing Preferences
You have the right to "opt in" and "opt out" of certain of our uses of your Personal Information and may change your preferences regarding such uses at any time. For example, you may have the opportunity to elect whether or not to receive commercial correspondence from us related to certain auctions, sales and other services. You may also opt-out of Sotheby's promotional e-mails by clicking on the opt-out link within the e-mail you receive from us, or of Sotheby's postal mailings by following the directions in such mailings. Please be aware that it may take up to 10 business day(s)for Sotheby's to update your preferences. During that time, you may continue to receive messages from us.

Please understand that if you opt-out of receiving promotional correspondence from us, we may still contact you in connection with your relationship, activities, transactions and communications with us, including on the Sotheby's on Invaluable Online Platform.

Do we share Personal Information and Web Site Usage Information with others?
Sotheby's does not sell, lease or give your Personal Information we receive from Invaluable relating to Sotheby's on Invaluable Online Platform to any other company, except as otherwise described herein.

Service Providers
Sotheby's may use third party partners to provide products or services to you. We, may, when necessary to do so, share your Personal Information with our affiliates, service providers or other third parties that provide products or Services for or through this Web Site or for our business purposes (such as Web site or database hosting companies, address list hosting companies, e-mail service providers, analytics companies, distribution companies, fulfillment companies, and other similar service providers that use such information on our behalf). These third party partners are obligated to protect the security and confidentiality of your information.

Call Center
Sotheby's may provide certain Personal Information to Sotheby's third-party call center. The third-party call center is required to keep all sensitive information about you and your use of this Web Site confidential. The call center is required to use your information solely in order to help you with registration or sign-in problems and other services.

Aggregate Statistics
We may disclose aggregate statistics regarding user behavior as a measure of interest in, and use of, this Web Site and e-mails to third parties in the form of aggregate data, such as overall patterns or demographic reports that do not describe or identify any individual user. Aggregate statistics we disclose in this manner do not contain your Personal Information.

Legally Compelled Disclosures
We may disclose user information to government authorities or other third parties when we believe such disclosure is required by law. We may also disclose user information as necessary to enforce the Sotheby's Web Site Terms and Conditions, in connection with investigations, or when we believe disclosure is necessarily incident to the provision of Sotheby's services or to the protection of the rights, property or safety of Sotheby's or others.

Business Transfer
Sotheby's regards its databases of customer information (which will include your Personal Information) as a valuable asset. In the event that Sotheby's, any entity of The Sotheby's Group, or substantially all of its or their assets, are acquired by one or more third parties as a result of an acquisition, merger, sale, reorganization, consolidation or liquidation, such databases containing Personal Information may be one of the transferred assets. In addition, such a transfer may mean that your Personal Information is transferred to countries outside the European Economic Area ("EEA") even if you are located within the EEA. By using the Services you consent to such transfer of your Personal Information.

Your Access Rights
You may review and edit the Personal Information that is stored by Sotheby's by contacting Sotheby's via the email address at the end of this policy. We will endeavor to respond to your request as soon as practicable. Before we are able to provide you with any information, correct any inaccuracies or delete any information, however, we may ask you to verify your identity and to provide other details to help us to respond to your request. In addition, you have the right to request access to the Personal Information that we hold about you at any time.

Security
Sotheby's will take reasonable steps to protect the security and integrity of the Personal Information Invaluable shares with us, including by making your Personal Information available to our employees and agents only on a need-to-know basis. However, due to the inherent nature of the Internet as an open global communications vehicle, we cannot guarantee that information, during transmission through the Internet or while stored on our system or otherwise in our care, will be absolutely safe from intrusion by others, such as hackers.

If you contact us by e-mail or a "contact us" or similar feature on our Web Site, you should be aware that your transmission might not be secure. A third party could view information you send by these methods in transit.

We will have no liability for disclosure of your information due to errors or unauthorized acts of third parties.
In the unlikely event that we believe that the security of your Personal Information in our possession or control may have been compromised, we may seek to notify you of that development. If a notification is appropriate, we will endeavor to do so as promptly as possible under the circumstances, and, if we have your e-mail address, we may notify you by e-mail. You consent to our use of e-mail as a means of such notification.

Phishing
With identity theft a continuing problem, it has become increasingly common for unauthorised individuals to send e-mail messages to consumers, purporting to represent a legitimate company such as a bank or on-line merchant, requesting that the consumer provide personal, often sensitive information. Sometimes, the domain name of the e-mail address from which the e-mail appears to have been sent, and the domain name of the web site requesting such information, appears to be the domain name of a legitimate, trusted company. In reality, such sensitive information is received by an unauthorized individual to be used for purposes of identity theft. This illegal activity has come to be known as "phishing."
Sotheby's will never request your password or social security number via e-mail. If you receive an e-mail or other correspondence requesting that you provide any sensitive information (including your password for the Platform or your credit card information) via e-mail or to a web site that does not seem to be affiliated with Sotheby's or Invaluable, or that otherwise seems suspicious to you, please do not provide any information in response to the request, and report such request to us.

Consent to Worldwide Transfer and Processing of Personal Data
Sotheby's is a global enterprise, with affiliates worldwide. When you give your Personal Information to Sotheby's, it may be processed by Sotheby's in all countries in which Sotheby's has affiliates. Each of these countries has different privacy laws that afford varying levels of protection for your Personal Information. Regardless of the laws in place in these countries, Sotheby's will treat the privacy of your information in accordance with the terms of this Privacy Policy. By providing your Personal Information to Sotheby's, you consent to Sotheby's transmission to, and processing of your information in, any jurisdiction, in accordance with this Privacy Policy.

Changes to this Privacy Policy
Sotheby's reserves the right to change or update this Privacy Policy, or any other of our policies or practices, at any time, and will notify users of this Web Site by posting such changed or updated Privacy Policy on this Web Site, or by otherwise making such changed or updated Privacy Policy accessible to affected users. Any changes or updates will be effective immediately upon posting to this Web Site, or upon such other notice by us. Under certain circumstances, we may also elect to notify you of changes or updates to our Privacy Policy by additional means, such as by sending you an e-mail.

If you have any questions or comments regarding our privacy practices or wish to verify or change the information in our files, you may contact us at [email protected]. You may also send mail to us with any comments, questions or concerns at:

Sotheby's.
1334 York Avenue
New York, New York 10021
Attention: Data Quality Department
Last Modified: March 15, 2016

Shipping Terms

BUYING AT AUCTION

The following pages are designed to give you useful information on how to buy at auction. Sotheby's staff as listed at the front of this catalogue will be happy to assist you. However, it is important that you read the following information carefully and note that Sotheby's acts for the seller; you should refer in particular to Conditions 3 and 4 of the Conditions of Business for Buyers printed in this catalogue. Prospective bidders should also consult www.sothebys.com for the most up to date cataloguing of the property in this catalogue.
Buyer's Premium A buyer's premium will be added to the hammer price and is payable by the buyer as part of the total purchase price. The buyer's premium is 25% of the hammer price up to and including £100,000, 20% of any amount in excess of £100,000 up to and including £1,800,000, and 12% of any amount in excess of £1,800,000.
1. BEFORE THE AUCTION
Catalogue Subscriptions If you would like to take out a catalogue subscription, please ring +44 (0)20 7293 5000.
Pre-sale Estimates Pre-sale estimates are intended as a guide for prospective buyers. Any bid between the high and low pre-sale estimates would, in our opinion, offer a chance of success. However, lots can realise prices above or below the pre-sale estimates.
It is advisable to consult us nearer the time of sale as estimates can be subject to revision. The estimates printed in the auction catalogue do not include the buyer's premium or VAT.
Pre-sale Estimates in US Dollars and Euros Although the sale is conducted in pounds sterling, the pre-sale estimates in some catalogues are also printed in US dollars and/or euros. The rate of exchange is the rate at the time of production of this catalogue. Therefore, you should treat the estimates in US dollars or euros as a guide only.
Condition of Lots Prospective buyers are encouraged to inspect the property at the pre-sale exhibitions. Solely as a convenience, Sotheby's may also provide condition reports. The absence of reference to the condition of a lot in the catalogue description does not imply that the lot is free from faults or imperfections. Please refer to Condition 3 of the Conditions of Business for Buyers printed in this catalogue.
Electrical and Mechanical Goods All electrical and mechanical goods are sold on the basis of their artistic and decorative value only, and should not be assumed to be operative. It is essential that prior to any intended use, the electrical system is checked and approved by a qualified electrician.
Provenance In certain circumstances, Sotheby's may print in the catalogue the history of ownership of a work of art if such information contributes to scholarship or is otherwise well known and assists in distinguishing the work of art. However, the identity of the seller or previous owners may not be disclosed for a variety of reasons. For example, such information may be excluded to accommodate a seller's request for confidentiality or because the identity of prior owners is unknown given the age of the work of art.
2. DURING THE AUCTION
Conditions of Business The auction is governed by the Conditions of Business and Authenticity Guarantee. These apply to all aspects of the relationship between Sotheby's and actual and prospective bidders and buyers. Anyone considering bidding in the auction should read them carefully. They may be amended by way of notices posted in the saleroom or by way of announcement made by the auctioneer.
Bidding at Auction Bids may be executed in person by paddle during the auction, in writing prior to the sale, by telephone or by BIDnow.
Auction speeds vary, but average between 50 and 120 lots per hour. The bidding steps are generally in increments of approximately 10% of the previous bid.
Please refer to Conditions 5 and 6 of the Conditions of Business for Buyers printed in this catalogue.
Bidding in Person To bid in person, you will need to register for and collect a numbered paddle before the auction begins. Proof of identity will be required. If you have a Sotheby's Client Card, it will facilitate the registration process.
Should you be the successful buyer of a lot, please ensure that your paddle can be seen by the auctioneer and that it is your number that is called out. Should there be any doubts as to price or buyer, please draw the auctioneer's attention to it immediately.
All lots sold will be invoiced to the name and address in which the paddle has been registered and cannot be transferred to other names and addresses.
Please do not mislay your paddle; in the event of loss, inform the Sales Clerk immediately. At the end of the sale, please return your paddle to the registration desk.
Absentee, Telephone and Internet Bids If you cannot attend the auction, we will be happy to execute written bids on your behalf or you can bid on the telephone for lots with a minimum low estimate of £3,000 or you can bid online using BIDnow. A bidding form and more information can be found at the back of this catalogue.
Online Bidding via BIDnow If you cannot attend the auction, it may be possible to bid online via BIDnow for selected sales. This service is free and confidential. For information about registering to bid via BIDnow, please refer to sothebys.com. Bidders using the BIDnow service are subject to the Additional Terms and Conditions for Live Online Bidding via BIDnow, which can be viewed at sothebys.com, as well as the Conditions of Business applicable to the sale.
Consecutive and Responsive Bidding The auctioneer may open the bidding on any lot by placing a bid on behalf of the seller. The auctioneer may further bid on behalf of the seller, up to the amount of the reserve, by placing consecutive or responsive bids for a lot. Please refer to Condition 6 of the Conditions of Business for Buyers printed in this catalogue.
Interested Parties Announcement In situations where a person who is allowed to bid on a lot has a direct or indirect interest in such lot, such as the beneficiary or executor of an estate selling the lot, a joint owner of the lot, or a party providing or participating in a guarantee of the lot, Sotheby's will make an announcement in the saleroom that interested parties may bid on the lot. In certain instances, interested parties may have knowledge of the reserves.
Employee Bidding Sotheby's employees may bid only if the employee does not know the reserve and fully complies with Sotheby's internal rules governing employee bidding.
US Economic Sanctions The United States maintains economic and trade sanctions against targeted foreign countries, groups and organiszations. There may be restrictions on the import into the United States of certain items originating in sanctioned countries, including Burma, Cuba, Iran, North Korea and Sudan. The purchaser's inability to import any item into the US or any other country as a result of these or other restrictions shall not justify cancellation or rescission of the sale or any delay in payment. Please check with the specialist department if you are uncertain as to whether a lot is subject to these import restrictions, or any other restrictions on importation or exportation.
3. AFTER THE AUCTION
Payment Payment is due immediately after the sale and may be made by the following methods: Sterling wire transfer, Sterling cheque, Sterling cash, UK debit card. Payment may also be made by Visa, MasterCard and non-UK debit card subject to a 1.2% surcharge, and by American Express and CUP subject to a 1.75% surcharge.
• It is against Sotheby's general policy to accept single or multiple related payments in the form of cash or cash equivalents in excess of the local currency equivalent of US$10,000.
• It is Sotheby's policy to request any new clients or buyers preferring to make a cash payment to provide: proof of identity (by providing some form of government issued identification containing a photograph, such as a passport, identity card or driver's licence) and confirmation of permanent address. Thank you for your co-operation.
Cheques should be made payable to Sotheby's. Although personal and company cheques drawn in pounds sterling on UK banks are accepted, you are advised that property will not be released until such cheques have cleared unless you have a pre-arranged Cheque Acceptance Facility. Forms to facilitate this are available from the Post Sale Services Department.
Bank transfers Our bank account details are shown on our invoices. Please include your name, Sotheby's account number and invoice number with your instructions to your bank. Please note that we reserve the right to decline payments received from anyone other than the buyer of record and that clearance of such payments will be required. Please contact our Post Sale Services Department if you have any questions concerning clearance.
Card payments below £30,000 (excluding CUP), can be made remotely by completing our Absentee Card Payment Form. For further details please contact the Post Sale Services Department on +44 (0)20 7293 5220.
We reserve the right to seek identification of the source of funds received.
The Conditions of Business require buyers to pay immediately for their purchases. However, in limited circumstances and with the seller's agreement, Sotheby's may grant buyers it deems creditworthy the option of paying for their purchases on an extended payment term basis. Generally credit terms must be arranged prior to the sale. In advance of determining whether to grant the extended payment terms, Sotheby's may require credit references and proof of identity and residence.
Collection It is Sotheby's policy to request proof of identity on collection of a lot. Lots will be released to you or your authorised representative when full and cleared payment has been received by Sotheby's. If you are in doubt about the location of your purchases, please contact the Sale Administrator prior to arranging collection. Removal, storage and handling charges may be levied on uncollected lots. Please refer to Condition 7 of the Conditions of Business for Buyers printed in this catalogue.
Storage Storage and handling charges may apply. For information concerning post sale storage and charges, please see Sotheby's Greenford Park, Storage and Collection Information at the back of this catalogue. Please refer to Condition 7 of the Conditions of Business for Buyers printed in this catalogue.
All purchases remaining at our New Bond Steet premises 90 days after the sale will be transferred to Sotheby's Greenford Park Fine Art Storage (see Sotheby's Greenford Park, Storage and Collection information). All such purchases will be subject to further storage and handling charges from this point.
Loss or Damage Buyers are reminded that Sotheby's accepts liability for loss or damage to lots for a maximum period of thirty (30) days after the date of the auction. Please refer to Condition 7 of the Conditions of Business for Buyers printed in this catalogue.
Shipping Sotheby's offers a comprehensive shipping service. Except if otherwise indicated in this Buying At Auction Guide, our Shipping Department can advise buyers on exporting and shipping property, and arranging delivery.
For assistance please contact:
Post Sale Services (Mon-Fri 9am to 5 pm)
Tel +44 (0)20 7293 5220
Fax +44 (0)20 7293 5910
Email: [email protected]
We will send you a quotation for shipping your purchase(s). Transit risk insurance may also be included in your quotation. If the quotation is accepted, we will arrange the shipping for you and will despatch the property as soon as possible after receiving your written agreement to the terms of the quotation, financial release of the property and receipt of any export licence or certificates that may be required. Despatch will be arranged at the buyer's expense. Sotheby's may charge an administrative fee for arranging the despatch.
All shipments should be unpacked and checked on delivery and any discrepancies notified immediately to the party identified in your quotation and/or the accompanying documentation.
Export The export of any lot from the UK or import into any other country may be subject to one or more export or import licences being granted. It is the buyer's responsibility to obtain any relevant export or import licence. The denial of any licence required or delay in obtaining such licence cannot justify the cancellation of the sale or any delay in making payment of the total amount due.
Sotheby's, upon request and for an administrative fee, may apply for a licence to export your lot(s) outside the UK
• An EU Licence is necessary to export cultural goods subject to the EU Regulation on the export of cultural property (EEC No. 3911/92, Official Journal No. L395 of 31/12/92) from the European Community.
• A UK Licence is necessary to move cultural goods valued at or above the relevant UK Licence limits from the UK.
For export outside the European Community, an EU Licence will be required for most items over 50 years of age with a value of over £39,219. The following is a selection of categories of items for which other value limits apply and for which an EU Licence may be required. It is not exhaustive and there are other restrictions.
EU Licence Thresholds
Archaeological objects
EU LICENCE THRESHOLD: ZERO
Elements of artistic, historical or religious
monuments
EU LICENCE THRESHOLD: ZERO
Manuscripts, documents and archives
(excluding printed matter)
EU LICENCE THRESHOLD: ZERO
Architectural, scientific and engineering drawings produced by hand
EU LICENCE THRESHOLD: £11,766
Photographic positive or negative or any
assemblage of such photographs
EU LICENCE THRESHOLD: £11,766
Textiles (excluding carpets and tapestries)
EU LICENCE THRESHOLD: £39,219
Paintings in oil or tempera
EU LICENCE THRESHOLD: £117,657
Watercolours, gouaches and pastels
EU LICENCE THRESHOLD: £23,531
Prints, Engravings, Drawings and Mosaics
EU LICENCE THRESHOLD: £11,766
There are separate thresholds for exporting within the European Community. A UK Licence will be required for most items over 50 years of age with a value of over £65,000. Some exceptions are listed below:
UK Licence Thresholds
Photographic positive or negative or any
assemblage of such photographs
UK LICENCE THRESHOLD: £10,000
Textiles (excluding carpets and tapestries)
UK LICENCE THRESHOLD: £12,000
British Historical Portraits
UK LICENCE THRESHOLD: £10,000
Sotheby's recommends that you retain all import and export papers, including licences, as in certain countries you may be required to produce them to governmental authorities.
Endangered Species Items made of or incorporating plant or animal material, such as coral, crocodile, ivory, whalebone, tortoiseshell, etc., irrespective of age or value, may require a licence or certificate prior to exportation and require additional licences or certificates upon importation to any country outside the EU. Please note that the ability to obtain an export licence or certificate does not ensure the ability to obtain an import licence or certificate in another country, and vice versa. For example, it is illegal to import African elephant ivory into the United States and there are other restrictions on the importation of ivory into the US under certain US regulations which are designed to protect wildlife conservation.
Sotheby's suggests that buyers check with their own government regarding wildlife import requirements prior to placing a bid. It is the buyer's responsibility to obtain any export or import licences and/or certificates as well as any other required documentation (please refer to Condition 10 of the Conditions of Business for Buyers printed in this catalogue). Please note that Sotheby's is not able to assist buyers with the shipment of any lots containing ivory and/or other restricted materials into the US. A buyer's inability to export or import these lots cannot justify a delay in payment or a sale's cancellation.


EXPLANATION OF SYMBOLS

The following key explains the symbols you may see inside this catalogue.
http://www.sothebys.com/en/key-to-lots-symbols.html

Guaranteed Property
The seller of lots with this symbol has been guaranteed a minimum price from one auction or a series of auctions. This guarantee may be provided by Sotheby's or jointly by Sotheby's and a third party. Sotheby's and any third parties providing a guarantee jointly with Sotheby's benefit financially if a guaranteed lot is sold successfully and may incur a loss if the sale is not successful. If every lot in a catalogue is -guaranteed, the Important Notices in the sale catalogue will so state and this symbol will not be used for each lot.

Property in which Sotheby's has an Ownership Interest
Lots with this symbol indicate that Sotheby's owns the lot in whole or in part or has an economic interest in the lot equivalent to an ownership interest.

Irrevocable Bids
Lots with this symbol indicate that a party has provided Sotheby's with an irrevocable bid on the lot that will be executed during the sale. The irrevocable bidder, who may bid in excess of the irrevocable bid, will be compensated based on the final hammer price in the event he or she is not the successful bidder. If the irrevocable bidder is the successful bidder, he or she will be required to pay the full Buyer's Premium and will not be otherwise compensated. If the irrevocable bid is not secured until after the printing of the auction catalogue, a pre-lot announcement will be made indicating that there is an irrevocable bid on the lot.

Interested Parties
Lots with this symbol indicate that parties with a direct or indirect interest in the lot may be bidding on the lot, including (i) the beneficiary of an estate selling the lot, or (ii) the joint owner of a lot. If the interested party is the successful bidder, they will be required to pay the full Buyer's Premium. In certain instances, interested parties may have knowledge of the reserve. In the event the interested party's possible participation in the sale is not known until after the printing of the auction catalogue, a pre-lot announcement will be made indicating that interested parties may be bidding on the lot.

No Reserve
Unless indicated by a box (¡à), all lots in this catalogue are offered subject to a reserve. A reserve is the confidential hammer price established between Sotheby's and the seller and below which a lot will not be sold. The reserve is generally set at a percentage of the low estimate and will not exceed the low estimate for the lot. If any lots in the catalogue are offered without a reserve, these lots are indicated by a box (¡à). If all lots in the catalogue are offered without a reserve, a Special Notice will be included to this effect and the box symbol will not be used for each lot.

Property Subject to the Artist's Resale Right
Purchase of lots marked with this symbol (§]) will be subject to payment of the Artist's Resale Right, at a percentage of the hammer price calculated as follows:
Portion of the hammer price (in €)
Royalty Rate
From 0 to 50,000 4%
From 50,000.01 to 200,000 3%
From 200,000.01 to 350,000 1%
From 350,000.01 to 500,000 0.5%
Exceeding 500,000 0.25%

The Artist's Resale Right payable will be the aggregate of the amounts payable under the above rate bands, subject to a maximum royalty payable of 12,500 euros for any single work each time it is sold. The maximum royalty payable of 12,500 euros applies to works sold for 2 million euros and above. Calculation of the artist's resale right will be based on the pound sterling / Euro reference exchange rate quoted on the date of the sale by the European Central Bank.

Restricted Materials
Lots with this symbol have been identified at the time of cataloguing as containing organic material which may be subject to restrictions regarding import or export. The information is made available for the convenience of Buyers and the absence of the Symbol is not a warranty that there are no restrictions regarding import or export of the Lot; Bidders should refer to Condition 10 of the Conditions of Business for Buyers. Please also refer to the section on Endangered Species in the Buying at Auction Guide. As indicated in the Endangered Species section, Sotheby's is not able to assist buyers with the shipment of any lots with this symbol into the US.
A buyer's inability to export or import any lots with this symbol cannot justify a delay in payment or a sale's cancellation.

Monumental
Lots with this symbol may, in our opinion, require special handling or shipping services due to size or other physical considerations. Buyers are advised to inspect the lot and to contact Sotheby's prior to the sale to discuss any specific shipping requirements.
Please refer to VAT information for Buyers for VAT symbols used in this catalogue. Value Added Tax (VAT) may be payable on the hammer price and/or the buyer's premium. Buyer's premium may attract a charge in lieu of VAT. Please read carefully the "VAT INFORMATION FOR BUYERS" printed in this catalogue.


VAT AND OTHER TAX
INFORMATION FOR BUYERS

The following paragraphs are intended to give general guidance to buyers on the VAT and certain other potential tax implications of purchasing property at Sotheby's. The information concerns the most usual circumstances and is not intended to be complete. In all cases the relevant tax legislation takes precedence and the VAT rates in effect on the day of the auction will be the rates charged except for lots sold subject to Temporary Admission for which the applicable rate will be that in force at the time of collection. It should be noted that, for VAT purposes only, Sotheby's is not usually treated as an agent and most property is sold as if it is the property of Sotheby's.
In the following paragraphs, reference to VAT symbols shall mean those symbols located beside the lot number or the pre-sale estimates in the catalogue (or amending sale room notice).
1. PROPERTY WITH NO VAT SYMBOL
Where there is no VAT symbol, Sotheby's is able to use the Auctioneer's Margin Scheme and VAT will not normally be charged on the hammer price.
Sotheby's must bear VAT on the buyer's premium and hence will charge an amount in lieu of VAT at the standard rate on this premium. This amount will form part of the buyer's premium on our invoice and will not be separately identified. A limited range of goods, including most books, are not liable to VAT and therefore no amount in lieu of VAT will be added to the premium.
Please see 'Exports from the European Union' for the conditions to be fulfilled before the amount in lieu of VAT on the buyer's premium may be cancelled or refunded.
(VAT-registered buyers from within the European Union (EU) should note that the amount in lieu of VAT contained within the buyer's premium cannot be cancelled or refunded by Sotheby's or HM Revenue and Customs.)
Buyers requiring an invoice under the normal VAT rules, instead of a margin scheme invoice, should notify the Post Sale Service Group or the Client Accounts Department on the day of the auction and an invoice with VAT on the hammer price will be raised. Buyers requiring reinvoicing under the normal VAT rules subsequent to a margin scheme invoice having been raised should contact the Client Accounts Department for assistance.
2. PROPERTY WITH A ¢" SYMBOL
These items will be sold under the normal UK VAT rules and VAT will be charged at the standard rate on both the hammer price and buyer's premium.
Please see 'Exports from the European Union' for the conditions to be fulfilled before the VAT charged on the hammer price may be cancelled or refunded.
(VAT-registered buyers from other EU countries may have the VAT cancelled or refunded if they provide Sotheby's with their VAT registration number and evidence that the property has been removed from the UK within three months of the date of sale. The evidence of removal required is a certificate of shipment or, if the lots were carried by hand, proof of travel and completion of a form available from the Post Sale Service Group.
3. PROPERTY WITH A ¥á SYMBOL
Items sold to buyers whose address is in the EU will be assumed to be remaining in the EU. The property will be invoiced as if it had no VAT symbol (see 'Property with no VAT symbol' above). However, if the property is to be exported from the EU, Sotheby's will re-invoice the property under the normal VAT rules (see 'Property sold with a ¢" symbol' above) as requested by the seller.
Items sold to buyers whose address is outside the EU will be assumed to be exported from the EU. The property will be invoiced under the normal VAT rules (see 'Property sold with a ¢" symbol' above). Although the hammer price will be subject to VAT this will be cancelled or refunded upon export - see 'Exports from the European Union'. However, buyers who are not intending to export their property from the EU should notify our Client Accounts Department on the day of the sale and the property will be re-invoiced showing no VAT on the hammer price (see 'Property sold with no VAT symbol' above).
4. PROPERTY SOLD WITH A ¢' OR ¥Ø SYMBOL
These items have been imported from outside the EU to be sold at auction under Temporary Admission. When Sotheby's releases such property to buyers in the UK, the buyer will become the importer and must pay Sotheby's import VAT at the following rates on the hammer price:
¢' - the reduced rate
¥Ø - the standard rate
You should also note that the appropriate rate will be that in force on the date of collection of the property from Sotheby's and not that in force at the date of the sale.
These lots will be invoiced under the margin scheme. Sotheby's must bear VAT on the buyer's premium and hence will charge an amount in lieu of VAT at the standard rate on this premium. This amount will form part of the buyer's premium on our invoice and will not be separately identified.
(VAT-registered buyers from the EU should note that the import VAT charged on property released in the UK cannot be cancelled or refunded by Sotheby's, however you may be able to seek repayment) by applying to HM Revenue and Customs - see 'VAT Refunds from HM Revenue and Customs')
(VAT-registered buyers from the UK should note that the invoice issued by Sotheby's for these items is not suitable evidence in respect of import VAT.)
On request, immediately after sale, the Temporary Admission Department can either ask HM Revenue and Customs to generate a C79 certificate (for UK buyers), or obtain a copy of the import C88 (for other EU VAT registered buyers), which may be used to claim recovery of the VAT. Otherwise Sotheby's may re-invoice the lot as if it had been sold with a ¢" symbol and charge VAT at the standard rate on both the hammer price and premium and provide a tax invoice to the buyer. This may enable a buyer who is VAT registered elsewhere in the EU to avoid payment of VAT in the United Kingdom. Re-invoicing in this way may make the lot ineligible to be re-sold using the margin scheme.
Sotheby's will transfer all lots sold subject to Temporary Admission to its Customs warehouse immediately after sale.
5. EXPORTS FROM THE EUROPEAN UNION
The following amounts of VAT may be cancelled or refunded provided Sotheby's receive the appropriate export documents within the time limits stated:
Property with no VAT symbol (see paragraph 1)
The amount in lieu of VAT charged on Buyers Premium may be refunded provided the purchaser resides outside of the United Kingdom and the property is exported from the EU within 3 months of the sale. Sotheby's must be provided with the appropriate proof of export immediately after export of the goods.
Property with a ¢" symbol
The VAT charged upon the hammer price may be refunded provided the purchaser resides outside of the United Kingdom and the property is exported from the EU within 3 months of the sale. Sotheby's must be provided with the appropriate proof of export immediately after export of the goods.
Property with a ¢' or a ¥Ø symbol
The Temporary Admission VAT charged on the hammer price may be refunded under the following circumstances:
• Sotheby's is instructed to ship the property to a place outside the EU
• The property is hand carried from the UK directly outside the EU and Sotheby's pre lodge the export entry with HMRC
• The VAT liability is transferred to your shippers own Temporary Admission or Customs Warehouse arrangement prior to collection from Sotheby's
Under all other circumstances Sotheby's is required to complete the importation and pay the VAT due to HM Revenue and Customs prior to the property leaving its premises and so a VAT refund will not be possible.
Proof of export required
• for lots sold under the margin scheme (no VAT symbol) or the normal VAT rules (¢" symbol), Sotheby's is provided with appropriate documentary proof of export from the EU. Buyers carrying their own property should obtain hand-carry papers from the Shipping department to facilitate this process.
• for lots sold under Temporary Admission (¢' or ¥Ø symbols), and subsequently transferred to Sotheby's Customs Warehouse (into Bond). The property must be shipped as described above in the paragraph headed Property with a ¢' or a ¥Ø symbol.
• buyers carrying their own property must obtain hand-carry papers from the Shipping Department for which a small administrative charge will be made. The VAT refund will be processed once the appropriate paperwork has been returned to Sotheby's.
• Sotheby's is not able to cancel or refund any VAT charged on sales made to UK or EU private residents unless the lot is subject to Temporary Admission and the property is exported from the EU and the requisite export papers provided to Sotheby's within one month of collection of the property.
• Sotheby's is not able to cancel or refund any VAT charged on sales to UK or EU private residents unless the lot is subject to Temporary Admission and is shipped as described above.
Buyers intending to export, repair, restore or alter lots sold under Temporary Admission (¢' or ¥Ø symbols) and therefore transferred to Customs Warehouse after sale should notify the Shipping Department before collection. Failure to do so may result in the import VAT becoming payable immediately and Sotheby's being unable to refund the VAT charged on deposit.
6. VAT REFUNDS FROM HM REVENUE AND CUSTOMS
Where VAT charged cannot be cancelled or refunded by Sotheby's, it may be possible to seek repayment from HM Revenue and Customs. Repayments in this manner are limited to businesses located outside the UK.
Claim forms are available from:
HM Revenue and Customs
VAT Overseas Repayments Unit
PO Box 34, Foyle House
Duncreggan Road, Londonderry
Northern Ireland, BT48 7AE
Tel: +44 (0)2871 305100
Fax: +44 (0)2871 305101
[email protected]
7. SALES AND USE TAXES
Buyers from outside the UK should note that local sales taxes or use taxes may become payable upon import of items following purchase (for example, the Use Tax payable on import of purchased items to certain states of the USA). Buyers should obtain their own advice in this regard.
Sotheby's is registered to collect sales tax in the states of New York and California, USA. In the event that Sotheby's ships items for a purchaser in this sale to a destination within New York State USA, or California State USA, Sotheby's is obliged to collect the respective state's sales or use tax on the total purchase price and shipping costs, including insurance, of such items, regardless of the country in which the purchaser resides or is a citizen. Where the purchaser has provided Sotheby's with a valid Resale Exemption Certificate prior to the release of the property, sales and use tax will not be charged. Clients to whom this tax might apply are advised to contact the Post Sale Manager listed in the front of this catalogue before arranging shipping.


CONDITIONS OF BUSINESS FOR BUYERS

1. INTRODUCTION
(a) Sotheby's and Sellers' contractual relationship with prospective Buyers is governed by:
(i) these Conditions of Business;
(ii) the Conditions of Business for Sellers displayed in the saleroom and which are available upon request from Sotheby's UK salerooms or by telephoning +44 (0)20 7293 6152;
(iii) Sotheby's Authenticity Guarantee as printed in the sale catalogue;
(iv) any additional notices and terms printed in the sale catalogue, including Buying at Auction and,
(v) in respect of online bidding via the internet, the BIDnow Conditions on the Sotheby's website, in each case as amended by any saleroom notice or auctioneer's announcement at the auction.
(b) As auctioneer, Sotheby's acts as agent for the Seller. A sale contract is made directly between the Seller and the Buyer. However, Sotheby's may own a lot (and in such circumstances acts in a principal capacity as Seller) and/or may have a legal, beneficial or financial interest in a lot as a secured creditor or otherwise.
2. COMMON TERMS IN THESE CONDITIONS OF BUSINESS:
Bidder is any person considering, making or attempting to make a bid, by whatever means, and includes Buyers;
Buyer is the person who makes the highest bid or offer accepted by the auctioneer, and includes such person's principal when bidding as agent;
Buyer's Expenses are any costs or expenses due to Sotheby's from the Buyer and any Artist's Resale Right levy payable in respect of the sale of the Property, including an amount in respect of any applicable VAT thereon;
Buyer's Premium is the commission payable by the Buyer on the Hammer Price at the rates set out in Buying at Auction;
Counterfeit is as defined in Sotheby's Authenticity Guarantee;
Hammer Price is the highest bid accepted by the auctioneer by the fall of the hammer (in the case of wine, as apportioned pro-rata by reference to the number of separately identified items in that lot), or in the case of a post-auction sale, the agreed sale price;
Purchase Price is the Hammer Price and applicable Buyer's Premium and VAT;
Reserve is the (confidential) minimum Hammer Price at which the Seller has agreed to sell a lot;
Seller is the person offering a lot for sale (including their agent (other than Sotheby's), executors or personal representatives);
Sotheby's means Sotheby's, the unlimited company which has its registered office at 34-35 New Bond Street, London W1A 2AA;
Sotheby's Company means both Sotheby's in the USA and any of its subsidiaries (including Sotheby's in London) and Sotheby's Diamonds S.A. and its subsidiaries (in each case "subsidiary" having the meaning of Section 736 of the Companies Act 1985);
VAT is Value Added Tax at the prevailing rate. Further information is contained in Buying at Auction.
3. DUTIES OF BIDDERS AND OF SOTHEBY'S IN RESPECT OF ITEMS FOR SALE
(a) Sotheby's knowledge in relation to each lot is partially dependent on information provided to it by the Seller, and Sotheby's is not able to and does not carry out exhaustive due diligence on each lot. Bidders acknowledge this fact and accept responsibility for carrying out inspections and investigations to satisfy themselves as to the lots in which they may be interested.
(b) Each lot offered for sale at Sotheby's is available for inspection by Bidders prior to the sale. Sotheby's accepts bids on lots solely on the basis that Bidders (and independent experts on their behalf, to the extent appropriate given the nature and value of the lot and the Bidder's own expertise) have fully inspected the lot prior to bidding and have satisfied themselves as to both the condition of the lot and the accuracy of its description.
(c) Bidders acknowledge that many lots are of an age and type which means that they are not in perfect condition. All lots are offered for sale in the condition they are in at the time of the auction (whether or not Bidders are in attendance at the auction). Condition reports may be available to assist when inspecting lots. Catalogue descriptions and condition reports may on occasions make reference to particular imperfections of a lot, but Bidders should note that lots may have other faults not expressly referred to in the catalogue or condition report. Illustrations are for identification purposes only and will not convey full information as to the actual condition of lots.
(d) Information provided to Bidders in respect of any lot, including any estimate, whether written or oral and including information in any catalogue, condition or other report, commentary or valuation, is not a representation of fact but rather is a statement of opinion genuinely held by Sotheby's. Any estimate 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 in Sotheby's absolute discretion.
(e) No representations or warranties are made by Sotheby's or the Seller as to whether any lot is subject to copyright or whether the Buyer acquires copyright in any lot.
(f) Subject to th-e matters referred to in Conditions 3(a) to 3(e) above and to the specific exclusions contained at Condition 4 below, Sotheby's shall exercise such reasonable care when making express statements in catalogue descriptions or condition reports as is consistent with its role as auctioneer of lots in the sale to which these Conditions relate, and in the light of (i) the information provided to it by the Seller; (ii) scholarship and technical knowledge; and (iii) the generally accepted opinions of relevant experts, in each case at the time any such express statement is made.
4. EXCLUSIONS AND LIMITATIONS OF LIABILITY TO BUYERS
(a) Sotheby's shall refund the Purchase Price to the Buyer in circumstances where it deems that the lot is a Counterfeit and each of the conditions of the Authenticity Guarantee has been satisfied.
(b) In the light of the matters in Condition 3 above and subject to Conditions 4(a) and 4(e), neither any Sotheby's Company nor the Seller:
(i) is liable for any errors or omissions in information provided to Bidders by Sotheby's (or any Sotheby's Company), whether orally or in writing, whether negligent or otherwise, except as set out in Condition 3(f) above;
(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 law) other than the express warranties given by the Seller to the Buyer in Condition 2 of the Sellers' Conditions of Business;
(iii) accepts responsibility to any Bidders in respect of acts or omissions (whether negligent or otherwise) by Sotheby's in connection with the conduct of auctions or for any matter relating to the sale of any lot.
(c) Unless Sotheby's owns a lot offered for sale, it is not responsible for any breach of these conditions by the Seller.
(d) Without prejudice to Condition 4(b), any claim against Sotheby's or the Seller by a Bidder is limited to the Purchase Price with regard to that lot. Neither Sotheby's nor the Seller shall under any circumstances be liable for any consequential losses.
(e) None of this Condition 4 shall exclude or limit Sotheby's liability in respect of any fraudulent misrepresentation made by Sotheby's or the Seller, or in respect of death or personal injury caused by the negligent acts or omissions of Sotheby's or the Seller.
5. BIDDING AT AUCTION
(a) Sotheby's has absolute discretion to refuse admission to the auction. Bidders must complete a Paddle Registration Form and supply such information and references as required by Sotheby's. Bidders act as principal unless they have Sotheby's prior written consent to bid as agent for another party. Bidders are personally liable for their bid and are jointly and severally liable with their principal if bidding as agent.
(b) Sotheby's advises Bidders to attend the auction but will seek to carry out absentee written bids which are in pounds sterling and, in Sotheby's opinion, clear and received sufficiently in advance of the sale of the lot, endeavouring to ensure that the first received of identical written bids has priority.
(c) Where available, written, telephone and online bids are offered as an additional service for no extra charge, at the Bidder's risk and shall be undertaken with reasonable care subject to Sotheby's other commitments at the time of the auction; Sotheby's therefore cannot accept liability for failure to place such bids save where such failure is unreasonable. Telephone and online bids may be recorded. Online bids ("BIDnow") are made subject to the BIDnow Conditions available on the Sotheby's website or upon request. The BIDnow Conditions apply in relation to online bids, in addition to these Conditions of Business.
6. CONDUCT OF THE AUCTION
(a) Unless otherwise specified, all lots are offered subject to a Reserve, which shall be no higher than the low presale estimate at the time of the auction.
(b) The auctioneer has discretion at any time to refuse any bid, withdraw any lot, re-offer a lot for sale (including after the fall of the hammer) if he believes there may be error or dispute, and take such other action as he reasonably thinks fit.
(c) The auctioneer will commence and advance the bidding at levels and in increments he considers appropriate and is entitled to place a bid or series of bids on behalf of the Seller up to the Reserve on the lot, without indicating he is doing so and whether or not other bids are placed.
(d) Subject to Condition 6(b), the contract between the Buyer and the Seller is concluded on the striking of the auctioneer's hammer, whereupon the Buyer becomes liable to pay the Purchase Price.
(e) Any post-auction sale of lots offered at auction shall incorporate these Conditions as if sold in the auction.
7. PAYMENT AND COLLECTION
(a) Unless otherwise agreed, payment of the Purchase Price for a lot and any Buyer's Expenses are due by the Buyer in pounds sterling immediately on conclusion of the auction (the "Due Date") notwithstanding any requirements for export, import or other permits for such lot.
(b) Title in a purchased lot will not pass until Sotheby's has received the Purchase Price and Buyer's Expenses for that lot in cleared funds. Sotheby's is not obliged to release a lot to the Buyer until title in the lot has passed and appropriate identification has been provided, and any earlier release does not affect the passing of title or the Buyer's unconditional obligation to pay the Purchase Price and Buyer's Expenses.
(c) The Buyer is obliged to arrange collection of purchased lots no later than thirty (30) calendar days after the date of the auction. Purchased lots are at the Buyer's risk (and therefore their sole responsibility for insurance) from the earliest of i) collection or ii) the thirty-first calendar day after the auction. Until risk passes, Sotheby's will compensate the Buyer for any loss or damage to the lot up to a maximum of the Purchase Price paid. Buyers should note that Sotheby's assumption of liability for loss or damage is subject to the exclusions set out in Condition 6 of the Conditions of Business for Sellers.
(d) For all items stored by a third party and not available for collection from Sotheby's premises, the supply of authority to release to the Buyer shall constitute collection by the Buyer.
(e) All packing and handling is at the Buyer's risk. Sotheby's will not be liable for any acts or omissions of third party packers or shippers.
(f) The Buyer of any firearm is solely responsible for obtaining all valid firearm or shotgun certificates or certificates of registration as a firearms dealer, as may be required by the regulations in force in England and Wales or Scotland (as applicable) relating to firearms or other weapons at the time of the sale, and for complying with all such regulations, whether or not notice of such is published in the Sale Catalogue. Sotheby's will not deliver a firearm to a Buyer unless the Buyer has first supplied evidence to Sotheby's satisfaction of compliance with this Condition.
8. REMEDIES FOR NON-PAYMENT
Without prejudice to any rights the Seller may have, if the Buyer without prior agreement fails to make payment for the lot within five days of the auction, Sotheby's may in its sole discretion (having informed the Seller) exercise one or more of the following remedies:
(a) store the lot at its premises or elsewhere at the Buyer's sole risk and expense;
(b) cancel the sale of the lot;
(c) set off any amounts owed to the Buyer by a Sotheby's Company against any amounts owed to Sotheby's by the Buyer in respect of the lot;
(d) apply any payments made to Sotheby's by the Buyer as part of the Purchase Price and Buyer's expenses towards that or any other lot purchased by the Buyer, or to any shortfall on the resale of any lot pursuant to paragraph (h) below, or to any damages suffered by Sotheby's as a result of breach of contract by the Buyer;
(e) reject future bids from the Buyer or render such bids subject to payment of a deposit;
(f) charge interest at 6% per annum above HSBC Bank plc Base Rate from the Due Date to the date the Purchase Price and relevant Buyer's Expenses are received in cleared funds;
(g) exercise a lien over any of the Buyer's property which is in the possession of a Sotheby's Company. Sotheby's shall inform the Buyer of the exercise of any such lien and within 14 days of such notice may arrange the sale of such property and apply the proceeds to the amount owed to Sotheby's;
(h) resell the lot by auction or private sale, with estimates and reserves at Sotheby's discretion. In the event such resale is for less than the Purchase Price and Buyer's Expenses for that lot, the Buyer will remain liable for the shortfall together with all costs incurred in such resale;
(i) commence legal proceedings to recover the Purchase Price and Buyer's Expenses for that lot, together with interest and the costs of such proceedings on a full indemnity basis; or
(j) release the name and address of the Buyer to the Seller to enable the Seller to commence legal proceedings to recover the amounts due and legal costs. Sotheby's will take reasonable steps to notify the Buyer prior to releasing such details to the Seller.
9. FAILURE TO COLLECT PURCHASES
(a) If the Buyer pays the Purchase Price and Buyer's Expenses but fails to collect a purchased lot within thirty (30) calendar days of the auction, the lot will be stored at the Buyer's expense (and risk) at Sotheby's or with a third party.
(b) If a purchased lot is paid for but not collected within six months of the auction, the Buyer authorises Sotheby's, having given notice to the Buyer, to arrange a resale of the item by auction or private sale, with estimates and reserves at Sotheby's discretion. The proceeds of such sale, less all costs incurred by Sotheby's, will be forfeited unless collected by the Buyer within two years of the original auction.
10. EXPORT AND PERMITS
It is the Buyer's sole responsibility to identify and obtain any necessary export, import, firearm, endangered species or other permit for the lot. Any symbols or notices in the sale catalogue reflect Sotheby's reasonable opinion at the time of cataloguing and offer Bidders general guidance only. Without prejudice to Conditions 3 and 4 above, Sotheby's and the Seller make no representations or warranties as to whether any lot is or is not subject to export or import restrictions or any embargoes. The denial of any permit or licence shall not justify cancellation or rescission of the sale contract or any delay in payment.
11. GENERAL
(a) All images and other materials produced for the auction are the copyright of Sotheby's, for use at Sotheby's discretion.
(b) Notices to Sotheby's should be in writing and addressed to the department in charge of the sale, quoting the reference number specified at the beginning of the sale catalogue. Notices to Sotheby's clients shall be addressed to the last address formally notified by them to Sotheby's.
(c) Should any provision of these Conditions of Business be held unenforceable for any reason, the remaining provisions shall remain in full force and effect.
(d) These Conditions of Business are not assignable by any Buyer without Sotheby's prior written consent, but are binding on Buyers' successors, assigns and representatives. No act, omission or delay by Sotheby's shall be deemed a waiver or release of any of its rights.
(e) The Contracts (Rights of Third Parties) Act 1999 is excluded by these Conditions of Business and shall not apply to any contract made pursuant to them.
(f) The materials listed in Condition 1(a) above set out the entire agreement and understanding between the parties with respect to the subject matter hereof. It is agreed that, save in respect of liability for fraudulent misrepresentation, no party has entered into any contract pursuant to these terms in reliance on any representation, warranty or undertaking which is not expressly referred to in such materials.
12. DATA PROTECTION
Sotheby's will use information provided by its clients (or which Sotheby's otherwise obtains relating to its clients) for the provision of auction and other art-related services, loan and insurance services, client administration, marketing and otherwise to manage and operate its business, or as required by law. This will include information such as the client's name and contact details, proof of identity, financial information, records of the client's transactions, and preferences. Some gathering of information about Sotheby's clients will take place using technical means to identify their preferences in order to provide a higher quality of service to them. Sotheby's may also disclose the client information to other Sotheby's Companies and/or third parties acting on their behalf to provide services for these purposes listed above.
Sometimes, Sotheby's may also disclose this information to carefully selected third parties for their own marketing purposes. If you do not wish your details to be used for this purpose, please email [email protected].
If the client provides Sotheby's with information that is defined by European data protection laws as "sensitive", the client agrees that it may be used for the purposes set out above.
In the course of these disclosures, personal data collected in the European Economic Area may be disclosed to countries outside the European Economic Area. Although such countries may not have legislation that protects a client's personal information, Sotheby's shall take reasonable steps to keep such information secure and in accordance with European data protection principles. By agreeing to these Conditions of Business, the client is agreeing to such disclosure.
Please be aware that Sotheby's may film auctions or other activities on Sotheby's premises and that such recordings may be transmitted over the Internet via Sotheby's website. Telephone bids may be recorded.
Under European data protection laws, a client may object, by request and free of charge, to the processing of their information for certain purposes, including direct marketing, and may access and rectify personal data relating to them and may obtain more information about Sotheby's data protection policies by writing to Sotheby's, 34-35 New Bond Street, London W1A 2AA, or 1334 York Avenue, New York, NY 10021, Attn: Compliance, or emailing: [email protected].
13. LAW AND JURISDICTION
Governing Law These Conditions of Business and all aspects of all matters, transactions or disputes to which they relate or apply (including any online bids in the sale to which these Conditions apply) shall be governed by and interpreted in accordance with English law.
Jurisdiction For the benefit of Sotheby's, all Bidders and Sellers agree that the Courts of England are to have exclusive jurisdiction to settle all disputes arising in connection with all aspects of all matters or transactions to which these Conditions of Business relate or apply. All parties agree that Sotheby's shall retain the right to bring proceedings in any court other than the Courts of England.
Service of Process All Bidders and Sellers irrevocably consent to service of process or any other documents in connection with proceedings in any court by facsimile transmission, personal service, delivery by mail or in any other manner permitted by English law, the law of the place of service or the law of the jurisdiction where proceedings are instituted, at the last address of the Buyer or Seller known to Sotheby's or any other usual address.


SOTHEBY'S GREENFORD PARK STORAGE AND COLLECTION INFORMATION

Smaller items can normally be collected from New Bond Street, however large items may be sent to Sotheby's Greenford Park Fine Art Storage Facility. If you are in doubt about the location of your purchases please contact the Sale Administrator (see front of catalogue) prior to collection.

COLLECTION FROM NEW BOND STREET

Lots will be released to you or your authorised representative when full and cleared payment has been received by Sotheby's, together with settlement of any removal, interest, handling and storage charges thereon, appropriate identification has been provided and a release note has been produced by our Post Sale Service Group at New Bond Street, who are open Monday to Friday 9.00am to 5.00pm.
Any purchased lots that have not been collected within 30 days from the date of the auction will be subject to handling and storage charges at the rates set out below. In addition all purchased lots that have not been collected from our New Bond Street premises within 90 days of the auction will be transferred to Sotheby's Greenford Park Fine Art Storage Facility.
Collect your property from:
Sotheby's Property Collection
Opening hours:
Monday to Friday 9.00am to 5.00pm
34-35 New Bond Street
London, W1A 2AA
Tel: +44 (0)20 7293 5358
Fax: +44 (0)20 7293 5933

COLLECTION FROM SOTHEBY'S GREENFORD PARK FINE ART STORAGE FACILITY

Lots will be released to you or your authorised representative when full and cleared payment has been received by Sotheby's, together with settlement of any removal, interest, handling and storage charges thereon, appropriate identification has been provided and a release note has been produced by our Post Sale Service Group at New Bond Street, who are open Monday to Friday 9.00am to 5.00pm.
Purchasers must ensure that their payment has been cleared prior to collection and that a release note has been forwarded to Sotheby's Greenford Park by our Post Sale Service Group at Sotheby's New Bond Street. Buyers who have established credit arrangements with Sotheby's may collect purchases prior to payment, although a release note is still required from our Post Sale Service Group as above.
Any purchased lots that have not been collected within 30 days from the date of the auction will be subject to handling and storage charges at the rates set out below.
Collect your property from: Sotheby's Greenford Park Fine Art Storage Facility
Opening hours:
Monday to Friday 8.30am to 4.30pm
Sotheby's Greenford Park,
13 Ockham Drive, Greenford, Middlesex, UB6 0FD
Tel: +44 (0)20 7293 5600
Fax: +44 (0)20 7293 5625

ROUTE GUIDANCE TO SOTHEBY'S GREENFORD PARK FINE ART STORAGE FACILITY

From Bond Street head towards Regents Park, take the A40 Marylebone Road to Western Avenue. Take the exit off the A40 signposted Greenford A4127. At the roundabout take the third exit signposted Harrow and Sudbury, A4127 onto Greenford Road. Go under the railway bridge and at the traffic lights turn first left into Rockware Avenue. At the T Junction turn right onto Oldfield Lane North and then left into Ockham Drive. Stop at the security barrier and say you are visiting Sotheby's. Once cleared, travel 300 yards down the road and Unit 13 is situated on the left hand side.
STORAGE CHARGES
Any purchased lots that have not been collected within 30 days from the date of the auction will be subject to handling and storage charges at the following rates:
Small items (such as jewellery, watches, books or ceramics): handling fee of £20 per lot plus storage charges of £2 per lot per day.
Medium items (such as most paintings or small items of furniture): handling fee of £30 per lot plus storage charges of £4 per lot per day.
Large items (items that cannot be lifted or moved by one person alone): handling fee of £40 per lot plus storage charges of £8 per lot per day.
Oversized items (such as monumental sculptures): handling fee of £80 per lot plus storage charges of £10 per lot per day.
A lot's size will be determined by Sotheby's on a case by case basis (typical examples given above are for illustration purposes only).
All charges are subject to VAT, where applicable. All charges are payable to Sotheby's at our Post Sale Service Group in New Bond Street.
Storage charges will cease for purchased lots which are shipped through Sotheby's Shipping Logistics from the date on which we have received a signed quote acceptance from you.

LIABILITY FOR LOSS OR DAMAGE

Buyers are reminded that Sotheby's accepts liability for loss or damage to lots for a maximum period of thirty (30) calendar days after the date of the auction. Please refer to Condition 7 of the Conditions of Business for Buyers.

SOTHEBY'S AUTHENTICITY GUARANTEE

If Sotheby's sells an item which subsequently is shown to be a "counterfeit", subject to the terms below Sotheby's will set aside the sale and refund to the Buyer the total amount paid by the Buyer to Sotheby's for the item, in the currency of the original sale.
For these purposes, "counterfeit" means a lot that in Sotheby's reasonable opinion is an imitation created to deceive as to authorship, origin, date, age, period, culture or source, where the correct description of such matters is not reflected by the description in the catalogue (taking into account any Glossary of Terms). No lot shall be considered a counterfeit by reason only of any damage and/or restoration and/or modification work of any kind (including repainting or over-painting).
Please note that this Guarantee does not apply if either:
(i) the catalogue description was in accordance with the generally accepted opinion(s) of scholar(s) and expert(s) at the date of the sale, or the catalogue description indicated that there was a conflict of such opinions; or
(ii) the only method of establishing at the date of the sale that the item was a counterfeit would have been by means of processes not then generally available or accepted, unreasonably expensive or impractical to use; or likely to have caused damage to the lot or likely (in Sotheby's reasonable opinion) to have caused loss of value to the lot; or
(iii) there has been no material loss in value of the lot from its value had it been in accordance with its description.

This Guarantee is provided for a period of five (5) years after the date of the relevant auction, is solely for the benefit of the Buyer and may not be transferred to any third party. To be able to claim under this Guarantee, the Buyer must:
(i) notify Sotheby's in writing within three (3) months of receiving any information that causes the Buyer to question the authenticity or attribution of the item, specifying the lot number, date of the auction at which it was purchased and the reasons why it is thought to be counterfeit; and
(ii) return the item to Sotheby's in the same condition as at the date of sale to the Buyer and be able to transfer good title in the item, free from any third party claims arising after the date of the sale.

Sotheby's has discretion to waive any of the above requirements. Sotheby's may require the Buyer to obtain at the Buyer's cost the reports of two independent and recognised experts in the field, mutually acceptable to Sotheby's and the Buyer. Sotheby's shall not be bound by any reports produced by the Buyer, and reserves the right to seek additional expert advice at its own expense. In the event Sotheby's decides to rescind the sale under this Guarantee, it may refund to the Buyer the reasonable costs of up to two mutually approved independent expert reports.
4/08 NBS_GUARANTEE MAIN


IMPORTANT NOTICES

ESTIMATES IN EUROS AND US DOLLARS

As a guide to potential buyers, estimates for this sale are also shown in Euros and US Dollars. The estimates printed in the catalogue in Pounds Sterling have been converted at the following rate, which was current at the time of printing. These estimates may have been rounded:
£1 = US$1.4509
£1 = €1.269
By the date of the sale this rate is likely to have changed, and buyers are recommended to check before bidding.
During the sale Sotheby's may provide a screen to show currency conversions as bidding progresses. This is intended for guidance only and all bidding will be in Pounds Sterling. Sotheby's is not responsible for any error or omissions in the operation of the currency converter.
Payment for purchases is due in Pounds Sterling, however the equivalent amount in any other currency will be accepted at the rate prevailing on the day that payment is received in cleared funds.
Settlement is made to vendors in the currency in which the sale is conducted, or in another currency on request at the rate prevailing on the day that payment is made by Sotheby's.

LIABILITY FOR LOSS OR DAMAGE FOR PURCHASED LOTS

Purchasers are requested to arrange clearance as soon as possible and are reminded that Sotheby's accepts liability for loss or damage to lots for a maximum period of thirty (30) calendar days following the date of the auction. Please refer to condition 7 of the Conditions of Business for Buyers.

COLLECTION OF LOTS MARKED 'W'

All purchased lots marked in the catalogue with a W will be transferred from the saleroom to Sotheby's Greenford Park Fine Art Storage Facility after 5 pm on the day of the sale. Collection can be made from Sotheby's Greenford Park two days after the sale, but not on the day immediately following the sale.
Exceptions to this procedure will be notified by auction room notice and announced at the time of the sale. After 30 days storage charges will commence.
Please see the Buying at Auction guide for further information.


SAFETY AT SOTHEBY'S

Sotheby's is concerned for your safety while you are on our premises and we endeavour to display items safely so far as is reasonably practicable. Nevertheless, should you handle any items on view at our premises, you do so at your own risk.
Some items can be large and/or heavy and can be dangerous if mishandled. Should you wish to view or inspect any items more closely please ask for assistance from a member of Sotheby's staff to ensure your safety and the safety of the property on view.
Some items on view may be labelled "PLEASE DO NOT TOUCH". Should you wish to view these items you must ask for assistance from a member of Sotheby's staff who will be pleased to assist you. Thank you for your co-operation.
11/10 NBS_NOTICE_€ & $US


GLOSSARY OF TERMS

The following are examples of the terminology used in this catalogue. Any statement as to authorship, attribution, origin, date, age, provenance and condition is a statement of opinion and is not to be taken as a statement of fact.
Please read carefully the terms of the Authenticity Guarantee and the Conditions of Business for Buyers set out in this catalogue, in particular Conditions 3 and 4.
1. GIOVANNI BELLINI
In our opinion a work by the artist. (When the artist's forename(s) is not known, a series of asterisks, followed by the surname of the artist, whether preceded by an initial or not, indicates that in our opinion the work is by the artist named.
2. ATTRIBUTED TO GIOVANNI BELLINI
In our opinion probably a work by the artist but less certainty as to authorship is expressed than in the preceding category.
3. STUDIO OF GIOVANNI BELLINI
In our opinion a work by an unknown hand in the studio of the artist which may or may not have been executed under the artist's direction.
4. CIRCLE OF GIOVANNI BELLINI
In our opinion a work by an as yet unidentified but distinct hand, closely associated with the named artist but not necessarily his pupil.
5. STYLE OF............; FOLLOWER OF GIOVANNI BELLINI
In our opinion a work by a painter working in the artist's style, contemporary or nearly contemporary, but not necessarily his pupil.
6. MANNER OF GIOVANNI BELLINI
In our opinion a work in the style of the artist and of a later date.
7. AFTER GIOVANNI BELLINI
In our opinion a copy of a known work of the artist.
8. The term signed and/or dated and/or inscribed means that in our opinion the signature and/or date and/or inscription are from the hand of the artist.
9. The term bears a signature and/or date and/or inscription means that in our opinion the signature and/or date and/or inscription have been added by another hand.
10. Dimensions are given height before width
1/03 NBS_GLOS_OMP
In recognition of the high standards of business administration and our compliance with all required customs protocols and procedures, Sotheby's UK
has been awarded the European Union Authorised Economic Operator status by Her Majesty's Revenue and Customs.
Sotheby's UK is committed to improving its sustainability, conserving resources and reducing the environmental impact of its various operations. A copy of Sotheby's Environmental Policy is available on request. Main Enquiries: +44 (0)20 7293 5000.
Photography
Brian Watt
Catalogue Designer
James Davis
Colour Editor
James Stabler
Production Controller
Emilie Ludot


INTERNATIONAL DEPARTMENTS

For a full listing of our offices and salerooms worldwide with detailed information on all of Sotheby's services, visit sothebys.com
OLD MASTER PAINTINGS
London
Alexander Bell
George Gordon
Arabella Chandos
Andrew Fletcher
Cecilia Treves
Chloe Stead
Georgina Eliot
Alice Herford
+44 (0)20 7293 6414
PRIVATE TREATY SALES
James Macdonald
+44 (0)20 7293 5887
New York
George Wachter
Christopher Apostle
Edoardo Roberti
Andrea Kust
Beatrice Stern
Calvine Harvey
David Pollack
Jonquil O'Reilly
+1 212 606 7230
Amsterdam
Judith Niessen
+31 20 550 2203
Brussels
Marianna Lora
+322 627 7187


Paris
Pierre Etienne
Lucia Mestre
+33 1 5305 53 26
Madrid
Marta Oliden
+34 91 576 5714
Milan
Alberto Chiesa
+39 02 2950 0207
Monaco
Mark Armstrong
+37 7 9330 8880
Geneva
Emily Black
+41 22 908 4849
BRITISH PAINTINGS
London
Julian Gascoigne
David Moore-Gwyn (consultant)
+44 (0)20 7293 6414


BRITISH DRAWINGS, WATERCOLOURS AND PORTRAIT MINIATURES
London
Mark Griffith-Jones
+44 (0)20 7293 5083
OLD MASTER DRAWINGS
London & New York
Gregory Rubinstein
Cristiana Romalli
Claire Anderson
Alexander Faber
+44 (0)20 7293 6450
Paris
Pierre Etienne
Lucia Mestre
+33 1 5305 53 26
Amsterdam
Judith Niessen
+31 20 550 2203


FORTHCOMING AUCTIONS
A comprehensive calendar of international auctions, in addition to all sale results, can be viewed at sothebys.com
OLD MASTERS EVENING SALE
7 December 2016
London

OLD MASTERS DAY SALE
8 December 2016
London

OLD MASTERS
January 2017
New York

INDEX
Aelst 153
Anesi 192
Antwerp School 126

Backhuysen 158
Baldrighi 201
Bastarolo 167
Batoni 190
Beerstraaten 152
Bigg 219
Bloemaert 121
Bosschaert 125
Bray 140
Brueghel 119
Brunswick Monogrammist 116

Camuccini 206
Carreño 180
Castilian School 163
Catena 165
Cleve 104
Coecke van Aelst 106
Colson 204
Conca 189
Constable 218
Crespi 170

Dael 213
Dou 123
Duck 136
Dutch or English School 145
Dyck 127

Ferg 144
Ferneley 217
Florentine School 174, 179
Francken 117

Gainsborough 209
Garofalo 164
Gassel 101
Gerung 107
Goya 194
Gramatica 169
Greco 183
Greuze 205
Grimmer 108
Guardi 200
Gundelach 118

Hamen 181
Hanneman 128
Heusch 141
Hickey 214


Italian School 173

Janneck 193
Joli 199

Kauffmann 202
Kessel 132
Key 111
Kraen 133

Lacroix 197
Landseer 220
Lely 115
Lopez 184

Maes 137
Maratta 187
Martin 207
Massys 103
Master of Sainte Gudule 105
Master of the Prodigal Son 109
Molenaer 151
Morland 215
Morone 161
Mulier 154

Oosten 124
Oudry 196

Palamedesz 159
Parra 182
Peake 110
Peroni 188
Piombo 168
Polo 186
Ponce 185
Pozzoserrato 166
Priwitzer 113

Raeburn 211, 212
Rembrandt 130
Reni 171
Ribera 177
Rigaud 203
Ring 150
Rotius 135
Rubens 129

Sassoferrato 178
Schedoni 176
Schütz 191
Seeman 208
Sirani 172
Son 134
Sonjé 148
Steen 138

Teniers 160
Thulden 122
Tintoretto 175

Uyl 149

Valckenborch 102
Valckert 143
Veerendael 156
Velde 157
Verbeeck 147
Vernet 195, 198
Vitringa 155
Walker 112, 114
Ward 216
Weenix 139
Wijnen 131
Willaerts 146
Wootton 210
Wouwerman 142
Wtewael 120
Zanino 162


WHAT INFORMATION COLLECTED ON THE SOTHEBY'S ON INVALUABLE ONLINE PLATFORM DOES SOTHEBY'S RECEIVE FROM INVALUABLE

User-Provided Information
Invaluable collects Personal Information about Invaluable users who register and/or bid via the Sotheby's on Invaluable Online Platform and may share that information with Sotheby's. Invaluable may collect such Personal information, for example, through users' activities, transactions and completion of online forms on the Platform. Such information is collected, for example, when users register to bid, place bids, are successful in purchasing at auction, submit a comment or question to Invaluable, contact Invaluable or Sotheby's for customer service or use any similar "contact us" feature, send Sotheby's or Invaluable an email, or in any other way submit Personal Information to Invaluable related to their use of the Sotheby's on Invaluable Online Platform.

How is your Personal Information used
Sotheby's will use the Personal Information that Invaluable shares with us to provide services to you. For example, Sotheby's may use your Personal Information to respond to your requests and inquiries, to provide you with client service that you request, and to prevent, detect and to investigate fraud, security breaches, or other potentially prohibited or illegal behavior and to enforce our policies. We will also use your Personal Information to maintain our internal record keeping, to run credit checks and to report to credit bureaus. Late payments, missed payments, or other defaults in connection with your transaction activity on the Sotheby's on Invaluable Online Platform may be reflected in your credit report. We may match or combine information collected from you through different means or at different times, including both Personal Information and information about your use of the Platform, and use such information along with information obtained from other sources, including from third parties.

In addition, we may use your Personal Information to contact you via email, telephone or postal mail or as you otherwise authorize us in order to inform you about certain other Sotheby's events and services.

Marketing Preferences
You have the right to "opt in" and "opt out" of certain of our uses of your Personal Information and may change your preferences regarding such uses at any time. For example, you may have the opportunity to elect whether or not to receive commercial correspondence from us related to certain auctions, sales and other services. You may also opt-out of Sotheby's promotional e-mails by clicking on the opt-out link within the e-mail you receive from us, or of Sotheby's postal mailings by following the directions in such mailings. Please be aware that it may take up to 10 business day(s)for Sotheby's to update your preferences. During that time, you may continue to receive messages from us.

Please understand that if you opt-out of receiving promotional correspondence from us, we may still contact you in connection with your relationship, activities, transactions and communications with us, including on the Sotheby's on Invaluable Online Platform.

Do we share Personal Information and Web Site Usage Information with others?
Sotheby's does not sell, lease or give your Personal Information we receive from Invaluable relating to Sotheby's on Invaluable Online Platform to any other company, except as otherwise described herein.

Service Providers
Sotheby's may use third party partners to provide products or services to you. We, may, when necessary to do so, share your Personal Information with our affiliates, service providers or other third parties that provide products or Services for or through this Web Site or for our business purposes (such as Web site or database hosting companies, address list hosting companies, e-mail service providers, analytics companies, distribution companies, fulfillment companies, and other similar service providers that use such information on our behalf). These third party partners are obligated to protect the security and confidentiality of your information.

Call Center
Sotheby's may provide certain Personal Information to Sotheby's third-party call center. The third-party call center is required to keep all sensitive information about you and your use of this Web Site confidential. The call center is required to use your information solely in order to help you with registration or sign-in problems and other services.

Aggregate Statistics
We may disclose aggregate statistics regarding user behavior as a measure of interest in, and use of, this Web Site and e-mails to third parties in the form of aggregate data, such as overall patterns or demographic reports that do not describe or identify any individual user. Aggregate statistics we disclose in this manner do not contain your Personal Information.

Legally Compelled Disclosures
We may disclose user information to government authorities or other third parties when we believe such disclosure is required by law. We may also disclose user information as necessary to enforce the Sotheby's Web Site Terms and Conditions, in connection with investigations, or when we believe disclosure is necessarily incident to the provision of Sotheby's services or to the protection of the rights, property or safety of Sotheby's or others.

Business Transfer
Sotheby's regards its databases of customer information (which will include your Personal Information) as a valuable asset. In the event that Sotheby's, any entity of The Sotheby's Group, or substantially all of its or their assets, are acquired by one or more third parties as a result of an acquisition, merger, sale, reorganization, consolidation or liquidation, such databases containing Personal Information may be one of the transferred assets. In addition, such a transfer may mean that your Personal Information is transferred to countries outside the European Economic Area ("EEA") even if you are located within the EEA. By using the Services you consent to such transfer of your Personal Information.

Your Access Rights
You may review and edit the Personal Information that is stored by Sotheby's by contacting Sotheby's via the email address at the end of this policy. We will endeavor to respond to your request as soon as practicable. Before we are able to provide you with any information, correct any inaccuracies or delete any information, however, we may ask you to verify your identity and to provide other details to help us to respond to your request. In addition, you have the right to request access to the Personal Information that we hold about you at any time.

Security
Sotheby's will take reasonable steps to protect the security and integrity of the Personal Information Invaluable shares with us, including by making your Personal Information available to our employees and agents only on a need-to-know basis. However, due to the inherent nature of the Internet as an open global communications vehicle, we cannot guarantee that information, during transmission through the Internet or while stored on our system or otherwise in our care, will be absolutely safe from intrusion by others, such as hackers.

If you contact us by e-mail or a "contact us" or similar feature on our Web Site, you should be aware that your transmission might not be secure. A third party could view information you send by these methods in transit.

We will have no liability for disclosure of your information due to errors or unauthorized acts of third parties.
In the unlikely event that we believe that the security of your Personal Information in our possession or control may have been compromised, we may seek to notify you of that development. If a notification is appropriate, we will endeavor to do so as promptly as possible under the circumstances, and, if we have your e-mail address, we may notify you by e-mail. You consent to our use of e-mail as a means of such notification.

Phishing
With identity theft a continuing problem, it has become increasingly common for unauthorised individuals to send e-mail messages to consumers, purporting to represent a legitimate company such as a bank or on-line merchant, requesting that the consumer provide personal, often sensitive information. Sometimes, the domain name of the e-mail address from which the e-mail appears to have been sent, and the domain name of the web site requesting such information, appears to be the domain name of a legitimate, trusted company. In reality, such sensitive information is received by an unauthorized individual to be used for purposes of identity theft. This illegal activity has come to be known as "phishing."
Sotheby's will never request your password or social security number via e-mail. If you receive an e-mail or other correspondence requesting that you provide any sensitive information (including your password for the Platform or your credit card information) via e-mail or to a web site that does not seem to be affiliated with Sotheby's or Invaluable, or that otherwise seems suspicious to you, please do not provide any information in response to the request, and report such request to us.

Consent to Worldwide Transfer and Processing of Personal Data
Sotheby's is a global enterprise, with affiliates worldwide. When you give your Personal Information to Sotheby's, it may be processed by Sotheby's in all countries in which Sotheby's has affiliates. Each of these countries has different privacy laws that afford varying levels of protection for your Personal Information. Regardless of the laws in place in these countries, Sotheby's will treat the privacy of your information in accordance with the terms of this Privacy Policy. By providing your Personal Information to Sotheby's, you consent to Sotheby's transmission to, and processing of your information in, any jurisdiction, in accordance with this Privacy Policy.

Changes to this Privacy Policy
Sotheby's reserves the right to change or update this Privacy Policy, or any other of our policies or practices, at any time, and will notify users of this Web Site by posting such changed or updated Privacy Policy on this Web Site, or by otherwise making such changed or updated Privacy Policy accessible to affected users. Any changes or updates will be effective immediately upon posting to this Web Site, or upon such other notice by us. Under certain circumstances, we may also elect to notify you of changes or updates to our Privacy Policy by additional means, such as by sending you an e-mail.

If you have any questions or comments regarding our privacy practices or wish to verify or change the information in our files, you may contact us at [email protected]. You may also send mail to us with any comments, questions or concerns at:

Sotheby's.
1334 York Avenue
New York, New York 10021
Attention: Data Quality Department
Last Modified: March 15, 2016

Shipping Terms

BUYING AT AUCTION

The following pages are designed to give you useful information on how to buy at auction. Sotheby's staff as listed at the front of this catalogue will be happy to assist you. However, it is important that you read the following information carefully and note that Sotheby's acts for the seller; you should refer in particular to Conditions 3 and 4 of the Conditions of Business for Buyers printed in this catalogue. Prospective bidders should also consult www.sothebys.com for the most up to date cataloguing of the property in this catalogue.
Buyer's Premium A buyer's premium will be added to the hammer price and is payable by the buyer as part of the total purchase price. The buyer's premium is 25% of the hammer price up to and including £100,000, 20% of any amount in excess of £100,000 up to and including £1,800,000, and 12% of any amount in excess of £1,800,000.
1. BEFORE THE AUCTION
Catalogue Subscriptions If you would like to take out a catalogue subscription, please ring +44 (0)20 7293 5000.
Pre-sale Estimates Pre-sale estimates are intended as a guide for prospective buyers. Any bid between the high and low pre-sale estimates would, in our opinion, offer a chance of success. However, lots can realise prices above or below the pre-sale estimates.
It is advisable to consult us nearer the time of sale as estimates can be subject to revision. The estimates printed in the auction catalogue do not include the buyer's premium or VAT.
Pre-sale Estimates in US Dollars and Euros Although the sale is conducted in pounds sterling, the pre-sale estimates in some catalogues are also printed in US dollars and/or euros. The rate of exchange is the rate at the time of production of this catalogue. Therefore, you should treat the estimates in US dollars or euros as a guide only.
Condition of Lots Prospective buyers are encouraged to inspect the property at the pre-sale exhibitions. Solely as a convenience, Sotheby's may also provide condition reports. The absence of reference to the condition of a lot in the catalogue description does not imply that the lot is free from faults or imperfections. Please refer to Condition 3 of the Conditions of Business for Buyers printed in this catalogue.
Electrical and Mechanical Goods All electrical and mechanical goods are sold on the basis of their artistic and decorative value only, and should not be assumed to be operative. It is essential that prior to any intended use, the electrical system is checked and approved by a qualified electrician.
Provenance In certain circumstances, Sotheby's may print in the catalogue the history of ownership of a work of art if such information contributes to scholarship or is otherwise well known and assists in distinguishing the work of art. However, the identity of the seller or previous owners may not be disclosed for a variety of reasons. For example, such information may be excluded to accommodate a seller's request for confidentiality or because the identity of prior owners is unknown given the age of the work of art.
2. DURING THE AUCTION
Conditions of Business The auction is governed by the Conditions of Business and Authenticity Guarantee. These apply to all aspects of the relationship between Sotheby's and actual and prospective bidders and buyers. Anyone considering bidding in the auction should read them carefully. They may be amended by way of notices posted in the saleroom or by way of announcement made by the auctioneer.
Bidding at Auction Bids may be executed in person by paddle during the auction, in writing prior to the sale, by telephone or by BIDnow.
Auction speeds vary, but average between 50 and 120 lots per hour. The bidding steps are generally in increments of approximately 10% of the previous bid.
Please refer to Conditions 5 and 6 of the Conditions of Business for Buyers printed in this catalogue.
Bidding in Person To bid in person, you will need to register for and collect a numbered paddle before the auction begins. Proof of identity will be required. If you have a Sotheby's Client Card, it will facilitate the registration process.
Should you be the successful buyer of a lot, please ensure that your paddle can be seen by the auctioneer and that it is your number that is called out. Should there be any doubts as to price or buyer, please draw the auctioneer's attention to it immediately.
All lots sold will be invoiced to the name and address in which the paddle has been registered and cannot be transferred to other names and addresses.
Please do not mislay your paddle; in the event of loss, inform the Sales Clerk immediately. At the end of the sale, please return your paddle to the registration desk.
Absentee, Telephone and Internet Bids If you cannot attend the auction, we will be happy to execute written bids on your behalf or you can bid on the telephone for lots with a minimum low estimate of £3,000 or you can bid online using BIDnow. A bidding form and more information can be found at the back of this catalogue.
Online Bidding via BIDnow If you cannot attend the auction, it may be possible to bid online via BIDnow for selected sales. This service is free and confidential. For information about registering to bid via BIDnow, please refer to sothebys.com. Bidders using the BIDnow service are subject to the Additional Terms and Conditions for Live Online Bidding via BIDnow, which can be viewed at sothebys.com, as well as the Conditions of Business applicable to the sale.
Consecutive and Responsive Bidding The auctioneer may open the bidding on any lot by placing a bid on behalf of the seller. The auctioneer may further bid on behalf of the seller, up to the amount of the reserve, by placing consecutive or responsive bids for a lot. Please refer to Condition 6 of the Conditions of Business for Buyers printed in this catalogue.
Interested Parties Announcement In situations where a person who is allowed to bid on a lot has a direct or indirect interest in such lot, such as the beneficiary or executor of an estate selling the lot, a joint owner of the lot, or a party providing or participating in a guarantee of the lot, Sotheby's will make an announcement in the saleroom that interested parties may bid on the lot. In certain instances, interested parties may have knowledge of the reserves.
Employee Bidding Sotheby's employees may bid only if the employee does not know the reserve and fully complies with Sotheby's internal rules governing employee bidding.
US Economic Sanctions The United States maintains economic and trade sanctions against targeted foreign countries, groups and organiszations. There may be restrictions on the import into the United States of certain items originating in sanctioned countries, including Burma, Cuba, Iran, North Korea and Sudan. The purchaser's inability to import any item into the US or any other country as a result of these or other restrictions shall not justify cancellation or rescission of the sale or any delay in payment. Please check with the specialist department if you are uncertain as to whether a lot is subject to these import restrictions, or any other restrictions on importation or exportation.
3. AFTER THE AUCTION
Payment Payment is due immediately after the sale and may be made by the following methods: Sterling wire transfer, Sterling cheque, Sterling cash, UK debit card. Payment may also be made by Visa, MasterCard and non-UK debit card subject to a 1.2% surcharge, and by American Express and CUP subject to a 1.75% surcharge.
• It is against Sotheby's general policy to accept single or multiple related payments in the form of cash or cash equivalents in excess of the local currency equivalent of US$10,000.
• It is Sotheby's policy to request any new clients or buyers preferring to make a cash payment to provide: proof of identity (by providing some form of government issued identification containing a photograph, such as a passport, identity card or driver's licence) and confirmation of permanent address. Thank you for your co-operation.
Cheques should be made payable to Sotheby's. Although personal and company cheques drawn in pounds sterling on UK banks are accepted, you are advised that property will not be released until such cheques have cleared unless you have a pre-arranged Cheque Acceptance Facility. Forms to facilitate this are available from the Post Sale Services Department.
Bank transfers Our bank account details are shown on our invoices. Please include your name, Sotheby's account number and invoice number with your instructions to your bank. Please note that we reserve the right to decline payments received from anyone other than the buyer of record and that clearance of such payments will be required. Please contact our Post Sale Services Department if you have any questions concerning clearance.
Card payments below £30,000 (excluding CUP), can be made remotely by completing our Absentee Card Payment Form. For further details please contact the Post Sale Services Department on +44 (0)20 7293 5220.
We reserve the right to seek identification of the source of funds received.
The Conditions of Business require buyers to pay immediately for their purchases. However, in limited circumstances and with the seller's agreement, Sotheby's may grant buyers it deems creditworthy the option of paying for their purchases on an extended payment term basis. Generally credit terms must be arranged prior to the sale. In advance of determining whether to grant the extended payment terms, Sotheby's may require credit references and proof of identity and residence.
Collection It is Sotheby's policy to request proof of identity on collection of a lot. Lots will be released to you or your authorised representative when full and cleared payment has been received by Sotheby's. If you are in doubt about the location of your purchases, please contact the Sale Administrator prior to arranging collection. Removal, storage and handling charges may be levied on uncollected lots. Please refer to Condition 7 of the Conditions of Business for Buyers printed in this catalogue.
Storage Storage and handling charges may apply. For information concerning post sale storage and charges, please see Sotheby's Greenford Park, Storage and Collection Information at the back of this catalogue. Please refer to Condition 7 of the Conditions of Business for Buyers printed in this catalogue.
All purchases remaining at our New Bond Steet premises 90 days after the sale will be transferred to Sotheby's Greenford Park Fine Art Storage (see Sotheby's Greenford Park, Storage and Collection information). All such purchases will be subject to further storage and handling charges from this point.
Loss or Damage Buyers are reminded that Sotheby's accepts liability for loss or damage to lots for a maximum period of thirty (30) days after the date of the auction. Please refer to Condition 7 of the Conditions of Business for Buyers printed in this catalogue.
Shipping Sotheby's offers a comprehensive shipping service. Except if otherwise indicated in this Buying At Auction Guide, our Shipping Department can advise buyers on exporting and shipping property, and arranging delivery.
For assistance please contact:
Post Sale Services (Mon-Fri 9am to 5 pm)
Tel +44 (0)20 7293 5220
Fax +44 (0)20 7293 5910
Email: [email protected]
We will send you a quotation for shipping your purchase(s). Transit risk insurance may also be included in your quotation. If the quotation is accepted, we will arrange the shipping for you and will despatch the property as soon as possible after receiving your written agreement to the terms of the quotation, financial release of the property and receipt of any export licence or certificates that may be required. Despatch will be arranged at the buyer's expense. Sotheby's may charge an administrative fee for arranging the despatch.
All shipments should be unpacked and checked on delivery and any discrepancies notified immediately to the party identified in your quotation and/or the accompanying documentation.
Export The export of any lot from the UK or import into any other country may be subject to one or more export or import licences being granted. It is the buyer's responsibility to obtain any relevant export or import licence. The denial of any licence required or delay in obtaining such licence cannot justify the cancellation of the sale or any delay in making payment of the total amount due.
Sotheby's, upon request and for an administrative fee, may apply for a licence to export your lot(s) outside the UK
• An EU Licence is necessary to export cultural goods subject to the EU Regulation on the export of cultural property (EEC No. 3911/92, Official Journal No. L395 of 31/12/92) from the European Community.
• A UK Licence is necessary to move cultural goods valued at or above the relevant UK Licence limits from the UK.
For export outside the European Community, an EU Licence will be required for most items over 50 years of age with a value of over £39,219. The following is a selection of categories of items for which other value limits apply and for which an EU Licence may be required. It is not exhaustive and there are other restrictions.
EU Licence Thresholds
Archaeological objects
EU LICENCE THRESHOLD: ZERO
Elements of artistic, historical or religious
monuments
EU LICENCE THRESHOLD: ZERO
Manuscripts, documents and archives
(excluding printed matter)
EU LICENCE THRESHOLD: ZERO
Architectural, scientific and engineering drawings produced by hand
EU LICENCE THRESHOLD: £11,766
Photographic positive or negative or any
assemblage of such photographs
EU LICENCE THRESHOLD: £11,766
Textiles (excluding carpets and tapestries)
EU LICENCE THRESHOLD: £39,219
Paintings in oil or tempera
EU LICENCE THRESHOLD: £117,657
Watercolours, gouaches and pastels
EU LICENCE THRESHOLD: £23,531
Prints, Engravings, Drawings and Mosaics
EU LICENCE THRESHOLD: £11,766
There are separate thresholds for exporting within the European Community. A UK Licence will be required for most items over 50 years of age with a value of over £65,000. Some exceptions are listed below:
UK Licence Thresholds
Photographic positive or negative or any
assemblage of such photographs
UK LICENCE THRESHOLD: £10,000
Textiles (excluding carpets and tapestries)
UK LICENCE THRESHOLD: £12,000
British Historical Portraits
UK LICENCE THRESHOLD: £10,000
Sotheby's recommends that you retain all import and export papers, including licences, as in certain countries you may be required to produce them to governmental authorities.
Endangered Species Items made of or incorporating plant or animal material, such as coral, crocodile, ivory, whalebone, tortoiseshell, etc., irrespective of age or value, may require a licence or certificate prior to exportation and require additional licences or certificates upon importation to any country outside the EU. Please note that the ability to obtain an export licence or certificate does not ensure the ability to obtain an import licence or certificate in another country, and vice versa. For example, it is illegal to import African elephant ivory into the United States and there are other restrictions on the importation of ivory into the US under certain US regulations which are designed to protect wildlife conservation.
Sotheby's suggests that buyers check with their own government regarding wildlife import requirements prior to placing a bid. It is the buyer's responsibility to obtain any export or import licences and/or certificates as well as any other required documentation (please refer to Condition 10 of the Conditions of Business for Buyers printed in this catalogue). Please note that Sotheby's is not able to assist buyers with the shipment of any lots containing ivory and/or other restricted materials into the US. A buyer's inability to export or import these lots cannot justify a delay in payment or a sale's cancellation.


EXPLANATION OF SYMBOLS

The following key explains the symbols you may see inside this catalogue.
http://www.sothebys.com/en/key-to-lots-symbols.html

Guaranteed Property
The seller of lots with this symbol has been guaranteed a minimum price from one auction or a series of auctions. This guarantee may be provided by Sotheby's or jointly by Sotheby's and a third party. Sotheby's and any third parties providing a guarantee jointly with Sotheby's benefit financially if a guaranteed lot is sold successfully and may incur a loss if the sale is not successful. If every lot in a catalogue is -guaranteed, the Important Notices in the sale catalogue will so state and this symbol will not be used for each lot.

Property in which Sotheby's has an Ownership Interest
Lots with this symbol indicate that Sotheby's owns the lot in whole or in part or has an economic interest in the lot equivalent to an ownership interest.

Irrevocable Bids
Lots with this symbol indicate that a party has provided Sotheby's with an irrevocable bid on the lot that will be executed during the sale. The irrevocable bidder, who may bid in excess of the irrevocable bid, will be compensated based on the final hammer price in the event he or she is not the successful bidder. If the irrevocable bidder is the successful bidder, he or she will be required to pay the full Buyer's Premium and will not be otherwise compensated. If the irrevocable bid is not secured until after the printing of the auction catalogue, a pre-lot announcement will be made indicating that there is an irrevocable bid on the lot.

Interested Parties
Lots with this symbol indicate that parties with a direct or indirect interest in the lot may be bidding on the lot, including (i) the beneficiary of an estate selling the lot, or (ii) the joint owner of a lot. If the interested party is the successful bidder, they will be required to pay the full Buyer's Premium. In certain instances, interested parties may have knowledge of the reserve. In the event the interested party's possible participation in the sale is not known until after the printing of the auction catalogue, a pre-lot announcement will be made indicating that interested parties may be bidding on the lot.

No Reserve
Unless indicated by a box (¡à), all lots in this catalogue are offered subject to a reserve. A reserve is the confidential hammer price established between Sotheby's and the seller and below which a lot will not be sold. The reserve is generally set at a percentage of the low estimate and will not exceed the low estimate for the lot. If any lots in the catalogue are offered without a reserve, these lots are indicated by a box (¡à). If all lots in the catalogue are offered without a reserve, a Special Notice will be included to this effect and the box symbol will not be used for each lot.

Property Subject to the Artist's Resale Right
Purchase of lots marked with this symbol (§]) will be subject to payment of the Artist's Resale Right, at a percentage of the hammer price calculated as follows:
Portion of the hammer price (in €)
Royalty Rate
From 0 to 50,000 4%
From 50,000.01 to 200,000 3%
From 200,000.01 to 350,000 1%
From 350,000.01 to 500,000 0.5%
Exceeding 500,000 0.25%

The Artist's Resale Right payable will be the aggregate of the amounts payable under the above rate bands, subject to a maximum royalty payable of 12,500 euros for any single work each time it is sold. The maximum royalty payable of 12,500 euros applies to works sold for 2 million euros and above. Calculation of the artist's resale right will be based on the pound sterling / Euro reference exchange rate quoted on the date of the sale by the European Central Bank.

Restricted Materials
Lots with this symbol have been identified at the time of cataloguing as containing organic material which may be subject to restrictions regarding import or export. The information is made available for the convenience of Buyers and the absence of the Symbol is not a warranty that there are no restrictions regarding import or export of the Lot; Bidders should refer to Condition 10 of the Conditions of Business for Buyers. Please also refer to the section on Endangered Species in the Buying at Auction Guide. As indicated in the Endangered Species section, Sotheby's is not able to assist buyers with the shipment of any lots with this symbol into the US.
A buyer's inability to export or import any lots with this symbol cannot justify a delay in payment or a sale's cancellation.

Monumental
Lots with this symbol may, in our opinion, require special handling or shipping services due to size or other physical considerations. Buyers are advised to inspect the lot and to contact Sotheby's prior to the sale to discuss any specific shipping requirements.
Please refer to VAT information for Buyers for VAT symbols used in this catalogue. Value Added Tax (VAT) may be payable on the hammer price and/or the buyer's premium. Buyer's premium may attract a charge in lieu of VAT. Please read carefully the "VAT INFORMATION FOR BUYERS" printed in this catalogue.


VAT AND OTHER TAX
INFORMATION FOR BUYERS

The following paragraphs are intended to give general guidance to buyers on the VAT and certain other potential tax implications of purchasing property at Sotheby's. The information concerns the most usual circumstances and is not intended to be complete. In all cases the relevant tax legislation takes precedence and the VAT rates in effect on the day of the auction will be the rates charged except for lots sold subject to Temporary Admission for which the applicable rate will be that in force at the time of collection. It should be noted that, for VAT purposes only, Sotheby's is not usually treated as an agent and most property is sold as if it is the property of Sotheby's.
In the following paragraphs, reference to VAT symbols shall mean those symbols located beside the lot number or the pre-sale estimates in the catalogue (or amending sale room notice).
1. PROPERTY WITH NO VAT SYMBOL
Where there is no VAT symbol, Sotheby's is able to use the Auctioneer's Margin Scheme and VAT will not normally be charged on the hammer price.
Sotheby's must bear VAT on the buyer's premium and hence will charge an amount in lieu of VAT at the standard rate on this premium. This amount will form part of the buyer's premium on our invoice and will not be separately identified. A limited range of goods, including most books, are not liable to VAT and therefore no amount in lieu of VAT will be added to the premium.
Please see 'Exports from the European Union' for the conditions to be fulfilled before the amount in lieu of VAT on the buyer's premium may be cancelled or refunded.
(VAT-registered buyers from within the European Union (EU) should note that the amount in lieu of VAT contained within the buyer's premium cannot be cancelled or refunded by Sotheby's or HM Revenue and Customs.)
Buyers requiring an invoice under the normal VAT rules, instead of a margin scheme invoice, should notify the Post Sale Service Group or the Client Accounts Department on the day of the auction and an invoice with VAT on the hammer price will be raised. Buyers requiring reinvoicing under the normal VAT rules subsequent to a margin scheme invoice having been raised should contact the Client Accounts Department for assistance.
2. PROPERTY WITH A ¢" SYMBOL
These items will be sold under the normal UK VAT rules and VAT will be charged at the standard rate on both the hammer price and buyer's premium.
Please see 'Exports from the European Union' for the conditions to be fulfilled before the VAT charged on the hammer price may be cancelled or refunded.
(VAT-registered buyers from other EU countries may have the VAT cancelled or refunded if they provide Sotheby's with their VAT registration number and evidence that the property has been removed from the UK within three months of the date of sale. The evidence of removal required is a certificate of shipment or, if the lots were carried by hand, proof of travel and completion of a form available from the Post Sale Service Group.
3. PROPERTY WITH A ¥á SYMBOL
Items sold to buyers whose address is in the EU will be assumed to be remaining in the EU. The property will be invoiced as if it had no VAT symbol (see 'Property with no VAT symbol' above). However, if the property is to be exported from the EU, Sotheby's will re-invoice the property under the normal VAT rules (see 'Property sold with a ¢" symbol' above) as requested by the seller.
Items sold to buyers whose address is outside the EU will be assumed to be exported from the EU. The property will be invoiced under the normal VAT rules (see 'Property sold with a ¢" symbol' above). Although the hammer price will be subject to VAT this will be cancelled or refunded upon export - see 'Exports from the European Union'. However, buyers who are not intending to export their property from the EU should notify our Client Accounts Department on the day of the sale and the property will be re-invoiced showing no VAT on the hammer price (see 'Property sold with no VAT symbol' above).
4. PROPERTY SOLD WITH A ¢' OR ¥Ø SYMBOL
These items have been imported from outside the EU to be sold at auction under Temporary Admission. When Sotheby's releases such property to buyers in the UK, the buyer will become the importer and must pay Sotheby's import VAT at the following rates on the hammer price:
¢' - the reduced rate
¥Ø - the standard rate
You should also note that the appropriate rate will be that in force on the date of collection of the property from Sotheby's and not that in force at the date of the sale.
These lots will be invoiced under the margin scheme. Sotheby's must bear VAT on the buyer's premium and hence will charge an amount in lieu of VAT at the standard rate on this premium. This amount will form part of the buyer's premium on our invoice and will not be separately identified.
(VAT-registered buyers from the EU should note that the import VAT charged on property released in the UK cannot be cancelled or refunded by Sotheby's, however you may be able to seek repayment) by applying to HM Revenue and Customs - see 'VAT Refunds from HM Revenue and Customs')
(VAT-registered buyers from the UK should note that the invoice issued by Sotheby's for these items is not suitable evidence in respect of import VAT.)
On request, immediately after sale, the Temporary Admission Department can either ask HM Revenue and Customs to generate a C79 certificate (for UK buyers), or obtain a copy of the import C88 (for other EU VAT registered buyers), which may be used to claim recovery of the VAT. Otherwise Sotheby's may re-invoice the lot as if it had been sold with a ¢" symbol and charge VAT at the standard rate on both the hammer price and premium and provide a tax invoice to the buyer. This may enable a buyer who is VAT registered elsewhere in the EU to avoid payment of VAT in the United Kingdom. Re-invoicing in this way may make the lot ineligible to be re-sold using the margin scheme.
Sotheby's will transfer all lots sold subject to Temporary Admission to its Customs warehouse immediately after sale.
5. EXPORTS FROM THE EUROPEAN UNION
The following amounts of VAT may be cancelled or refunded provided Sotheby's receive the appropriate export documents within the time limits stated:
Property with no VAT symbol (see paragraph 1)
The amount in lieu of VAT charged on Buyers Premium may be refunded provided the purchaser resides outside of the United Kingdom and the property is exported from the EU within 3 months of the sale. Sotheby's must be provided with the appropriate proof of export immediately after export of the goods.
Property with a ¢" symbol
The VAT charged upon the hammer price may be refunded provided the purchaser resides outside of the United Kingdom and the property is exported from the EU within 3 months of the sale. Sotheby's must be provided with the appropriate proof of export immediately after export of the goods.
Property with a ¢' or a ¥Ø symbol
The Temporary Admission VAT charged on the hammer price may be refunded under the following circumstances:
• Sotheby's is instructed to ship the property to a place outside the EU
• The property is hand carried from the UK directly outside the EU and Sotheby's pre lodge the export entry with HMRC
• The VAT liability is transferred to your shippers own Temporary Admission or Customs Warehouse arrangement prior to collection from Sotheby's
Under all other circumstances Sotheby's is required to complete the importation and pay the VAT due to HM Revenue and Customs prior to the property leaving its premises and so a VAT refund will not be possible.
Proof of export required
• for lots sold under the margin scheme (no VAT symbol) or the normal VAT rules (¢" symbol), Sotheby's is provided with appropriate documentary proof of export from the EU. Buyers carrying their own property should obtain hand-carry papers from the Shipping department to facilitate this process.
• for lots sold under Temporary Admission (¢' or ¥Ø symbols), and subsequently transferred to Sotheby's Customs Warehouse (into Bond). The property must be shipped as described above in the paragraph headed Property with a ¢' or a ¥Ø symbol.
• buyers carrying their own property must obtain hand-carry papers from the Shipping Department for which a small administrative charge will be made. The VAT refund will be processed once the appropriate paperwork has been returned to Sotheby's.
• Sotheby's is not able to cancel or refund any VAT charged on sales made to UK or EU private residents unless the lot is subject to Temporary Admission and the property is exported from the EU and the requisite export papers provided to Sotheby's within one month of collection of the property.
• Sotheby's is not able to cancel or refund any VAT charged on sales to UK or EU private residents unless the lot is subject to Temporary Admission and is shipped as described above.
Buyers intending to export, repair, restore or alter lots sold under Temporary Admission (¢' or ¥Ø symbols) and therefore transferred to Customs Warehouse after sale should notify the Shipping Department before collection. Failure to do so may result in the import VAT becoming payable immediately and Sotheby's being unable to refund the VAT charged on deposit.
6. VAT REFUNDS FROM HM REVENUE AND CUSTOMS
Where VAT charged cannot be cancelled or refunded by Sotheby's, it may be possible to seek repayment from HM Revenue and Customs. Repayments in this manner are limited to businesses located outside the UK.
Claim forms are available from:
HM Revenue and Customs
VAT Overseas Repayments Unit
PO Box 34, Foyle House
Duncreggan Road, Londonderry
Northern Ireland, BT48 7AE
Tel: +44 (0)2871 305100
Fax: +44 (0)2871 305101
[email protected]
7. SALES AND USE TAXES
Buyers from outside the UK should note that local sales taxes or use taxes may become payable upon import of items following purchase (for example, the Use Tax payable on import of purchased items to certain states of the USA). Buyers should obtain their own advice in this regard.
Sotheby's is registered to collect sales tax in the states of New York and California, USA. In the event that Sotheby's ships items for a purchaser in this sale to a destination within New York State USA, or California State USA, Sotheby's is obliged to collect the respective state's sales or use tax on the total purchase price and shipping costs, including insurance, of such items, regardless of the country in which the purchaser resides or is a citizen. Where the purchaser has provided Sotheby's with a valid Resale Exemption Certificate prior to the release of the property, sales and use tax will not be charged. Clients to whom this tax might apply are advised to contact the Post Sale Manager listed in the front of this catalogue before arranging shipping.


CONDITIONS OF BUSINESS FOR BUYERS

1. INTRODUCTION
(a) Sotheby's and Sellers' contractual relationship with prospective Buyers is governed by:
(i) these Conditions of Business;
(ii) the Conditions of Business for Sellers displayed in the saleroom and which are available upon request from Sotheby's UK salerooms or by telephoning +44 (0)20 7293 6152;
(iii) Sotheby's Authenticity Guarantee as printed in the sale catalogue;
(iv) any additional notices and terms printed in the sale catalogue, including Buying at Auction and,
(v) in respect of online bidding via the internet, the BIDnow Conditions on the Sotheby's website, in each case as amended by any saleroom notice or auctioneer's announcement at the auction.
(b) As auctioneer, Sotheby's acts as agent for the Seller. A sale contract is made directly between the Seller and the Buyer. However, Sotheby's may own a lot (and in such circumstances acts in a principal capacity as Seller) and/or may have a legal, beneficial or financial interest in a lot as a secured creditor or otherwise.
2. COMMON TERMS IN THESE CONDITIONS OF BUSINESS:
Bidder is any person considering, making or attempting to make a bid, by whatever means, and includes Buyers;
Buyer is the person who makes the highest bid or offer accepted by the auctioneer, and includes such person's principal when bidding as agent;
Buyer's Expenses are any costs or expenses due to Sotheby's from the Buyer and any Artist's Resale Right levy payable in respect of the sale of the Property, including an amount in respect of any applicable VAT thereon;
Buyer's Premium is the commission payable by the Buyer on the Hammer Price at the rates set out in Buying at Auction;
Counterfeit is as defined in Sotheby's Authenticity Guarantee;
Hammer Price is the highest bid accepted by the auctioneer by the fall of the hammer (in the case of wine, as apportioned pro-rata by reference to the number of separately identified items in that lot), or in the case of a post-auction sale, the agreed sale price;
Purchase Price is the Hammer Price and applicable Buyer's Premium and VAT;
Reserve is the (confidential) minimum Hammer Price at which the Seller has agreed to sell a lot;
Seller is the person offering a lot for sale (including their agent (other than Sotheby's), executors or personal representatives);
Sotheby's means Sotheby's, the unlimited company which has its registered office at 34-35 New Bond Street, London W1A 2AA;
Sotheby's Company means both Sotheby's in the USA and any of its subsidiaries (including Sotheby's in London) and Sotheby's Diamonds S.A. and its subsidiaries (in each case "subsidiary" having the meaning of Section 736 of the Companies Act 1985);
VAT is Value Added Tax at the prevailing rate. Further information is contained in Buying at Auction.
3. DUTIES OF BIDDERS AND OF SOTHEBY'S IN RESPECT OF ITEMS FOR SALE
(a) Sotheby's knowledge in relation to each lot is partially dependent on information provided to it by the Seller, and Sotheby's is not able to and does not carry out exhaustive due diligence on each lot. Bidders acknowledge this fact and accept responsibility for carrying out inspections and investigations to satisfy themselves as to the lots in which they may be interested.
(b) Each lot offered for sale at Sotheby's is available for inspection by Bidders prior to the sale. Sotheby's accepts bids on lots solely on the basis that Bidders (and independent experts on their behalf, to the extent appropriate given the nature and value of the lot and the Bidder's own expertise) have fully inspected the lot prior to bidding and have satisfied themselves as to both the condition of the lot and the accuracy of its description.
(c) Bidders acknowledge that many lots are of an age and type which means that they are not in perfect condition. All lots are offered for sale in the condition they are in at the time of the auction (whether or not Bidders are in attendance at the auction). Condition reports may be available to assist when inspecting lots. Catalogue descriptions and condition reports may on occasions make reference to particular imperfections of a lot, but Bidders should note that lots may have other faults not expressly referred to in the catalogue or condition report. Illustrations are for identification purposes only and will not convey full information as to the actual condition of lots.
(d) Information provided to Bidders in respect of any lot, including any estimate, whether written or oral and including information in any catalogue, condition or other report, commentary or valuation, is not a representation of fact but rather is a statement of opinion genuinely held by Sotheby's. Any estimate 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 in Sotheby's absolute discretion.
(e) No representations or warranties are made by Sotheby's or the Seller as to whether any lot is subject to copyright or whether the Buyer acquires copyright in any lot.
(f) Subject to th-e matters referred to in Conditions 3(a) to 3(e) above and to the specific exclusions contained at Condition 4 below, Sotheby's shall exercise such reasonable care when making express statements in catalogue descriptions or condition reports as is consistent with its role as auctioneer of lots in the sale to which these Conditions relate, and in the light of (i) the information provided to it by the Seller; (ii) scholarship and technical knowledge; and (iii) the generally accepted opinions of relevant experts, in each case at the time any such express statement is made.
4. EXCLUSIONS AND LIMITATIONS OF LIABILITY TO BUYERS
(a) Sotheby's shall refund the Purchase Price to the Buyer in circumstances where it deems that the lot is a Counterfeit and each of the conditions of the Authenticity Guarantee has been satisfied.
(b) In the light of the matters in Condition 3 above and subject to Conditions 4(a) and 4(e), neither any Sotheby's Company nor the Seller:
(i) is liable for any errors or omissions in information provided to Bidders by Sotheby's (or any Sotheby's Company), whether orally or in writing, whether negligent or otherwise, except as set out in Condition 3(f) above;
(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 law) other than the express warranties given by the Seller to the Buyer in Condition 2 of the Sellers' Conditions of Business;
(iii) accepts responsibility to any Bidders in respect of acts or omissions (whether negligent or otherwise) by Sotheby's in connection with the conduct of auctions or for any matter relating to the sale of any lot.
(c) Unless Sotheby's owns a lot offered for sale, it is not responsible for any breach of these conditions by the Seller.
(d) Without prejudice to Condition 4(b), any claim against Sotheby's or the Seller by a Bidder is limited to the Purchase Price with regard to that lot. Neither Sotheby's nor the Seller shall under any circumstances be liable for any consequential losses.
(e) None of this Condition 4 shall exclude or limit Sotheby's liability in respect of any fraudulent misrepresentation made by Sotheby's or the Seller, or in respect of death or personal injury caused by the negligent acts or omissions of Sotheby's or the Seller.
5. BIDDING AT AUCTION
(a) Sotheby's has absolute discretion to refuse admission to the auction. Bidders must complete a Paddle Registration Form and supply such information and references as required by Sotheby's. Bidders act as principal unless they have Sotheby's prior written consent to bid as agent for another party. Bidders are personally liable for their bid and are jointly and severally liable with their principal if bidding as agent.
(b) Sotheby's advises Bidders to attend the auction but will seek to carry out absentee written bids which are in pounds sterling and, in Sotheby's opinion, clear and received sufficiently in advance of the sale of the lot, endeavouring to ensure that the first received of identical written bids has priority.
(c) Where available, written, telephone and online bids are offered as an additional service for no extra charge, at the Bidder's risk and shall be undertaken with reasonable care subject to Sotheby's other commitments at the time of the auction; Sotheby's therefore cannot accept liability for failure to place such bids save where such failure is unreasonable. Telephone and online bids may be recorded. Online bids ("BIDnow") are made subject to the BIDnow Conditions available on the Sotheby's website or upon request. The BIDnow Conditions apply in relation to online bids, in addition to these Conditions of Business.
6. CONDUCT OF THE AUCTION
(a) Unless otherwise specified, all lots are offered subject to a Reserve, which shall be no higher than the low presale estimate at the time of the auction.
(b) The auctioneer has discretion at any time to refuse any bid, withdraw any lot, re-offer a lot for sale (including after the fall of the hammer) if he believes there may be error or dispute, and take such other action as he reasonably thinks fit.
(c) The auctioneer will commence and advance the bidding at levels and in increments he considers appropriate and is entitled to place a bid or series of bids on behalf of the Seller up to the Reserve on the lot, without indicating he is doing so and whether or not other bids are placed.
(d) Subject to Condition 6(b), the contract between the Buyer and the Seller is concluded on the striking of the auctioneer's hammer, whereupon the Buyer becomes liable to pay the Purchase Price.
(e) Any post-auction sale of lots offered at auction shall incorporate these Conditions as if sold in the auction.
7. PAYMENT AND COLLECTION
(a) Unless otherwise agreed, payment of the Purchase Price for a lot and any Buyer's Expenses are due by the Buyer in pounds sterling immediately on conclusion of the auction (the "Due Date") notwithstanding any requirements for export, import or other permits for such lot.
(b) Title in a purchased lot will not pass until Sotheby's has received the Purchase Price and Buyer's Expenses for that lot in cleared funds. Sotheby's is not obliged to release a lot to the Buyer until title in the lot has passed and appropriate identification has been provided, and any earlier release does not affect the passing of title or the Buyer's unconditional obligation to pay the Purchase Price and Buyer's Expenses.
(c) The Buyer is obliged to arrange collection of purchased lots no later than thirty (30) calendar days after the date of the auction. Purchased lots are at the Buyer's risk (and therefore their sole responsibility for insurance) from the earliest of i) collection or ii) the thirty-first calendar day after the auction. Until risk passes, Sotheby's will compensate the Buyer for any loss or damage to the lot up to a maximum of the Purchase Price paid. Buyers should note that Sotheby's assumption of liability for loss or damage is subject to the exclusions set out in Condition 6 of the Conditions of Business for Sellers.
(d) For all items stored by a third party and not available for collection from Sotheby's premises, the supply of authority to release to the Buyer shall constitute collection by the Buyer.
(e) All packing and handling is at the Buyer's risk. Sotheby's will not be liable for any acts or omissions of third party packers or shippers.
(f) The Buyer of any firearm is solely responsible for obtaining all valid firearm or shotgun certificates or certificates of registration as a firearms dealer, as may be required by the regulations in force in England and Wales or Scotland (as applicable) relating to firearms or other weapons at the time of the sale, and for complying with all such regulations, whether or not notice of such is published in the Sale Catalogue. Sotheby's will not deliver a firearm to a Buyer unless the Buyer has first supplied evidence to Sotheby's satisfaction of compliance with this Condition.
8. REMEDIES FOR NON-PAYMENT
Without prejudice to any rights the Seller may have, if the Buyer without prior agreement fails to make payment for the lot within five days of the auction, Sotheby's may in its sole discretion (having informed the Seller) exercise one or more of the following remedies:
(a) store the lot at its premises or elsewhere at the Buyer's sole risk and expense;
(b) cancel the sale of the lot;
(c) set off any amounts owed to the Buyer by a Sotheby's Company against any amounts owed to Sotheby's by the Buyer in respect of the lot;
(d) apply any payments made to Sotheby's by the Buyer as part of the Purchase Price and Buyer's expenses towards that or any other lot purchased by the Buyer, or to any shortfall on the resale of any lot pursuant to paragraph (h) below, or to any damages suffered by Sotheby's as a result of breach of contract by the Buyer;
(e) reject future bids from the Buyer or render such bids subject to payment of a deposit;
(f) charge interest at 6% per annum above HSBC Bank plc Base Rate from the Due Date to the date the Purchase Price and relevant Buyer's Expenses are received in cleared funds;
(g) exercise a lien over any of the Buyer's property which is in the possession of a Sotheby's Company. Sotheby's shall inform the Buyer of the exercise of any such lien and within 14 days of such notice may arrange the sale of such property and apply the proceeds to the amount owed to Sotheby's;
(h) resell the lot by auction or private sale, with estimates and reserves at Sotheby's discretion. In the event such resale is for less than the Purchase Price and Buyer's Expenses for that lot, the Buyer will remain liable for the shortfall together with all costs incurred in such resale;
(i) commence legal proceedings to recover the Purchase Price and Buyer's Expenses for that lot, together with interest and the costs of such proceedings on a full indemnity basis; or
(j) release the name and address of the Buyer to the Seller to enable the Seller to commence legal proceedings to recover the amounts due and legal costs. Sotheby's will take reasonable steps to notify the Buyer prior to releasing such details to the Seller.
9. FAILURE TO COLLECT PURCHASES
(a) If the Buyer pays the Purchase Price and Buyer's Expenses but fails to collect a purchased lot within thirty (30) calendar days of the auction, the lot will be stored at the Buyer's expense (and risk) at Sotheby's or with a third party.
(b) If a purchased lot is paid for but not collected within six months of the auction, the Buyer authorises Sotheby's, having given notice to the Buyer, to arrange a resale of the item by auction or private sale, with estimates and reserves at Sotheby's discretion. The proceeds of such sale, less all costs incurred by Sotheby's, will be forfeited unless collected by the Buyer within two years of the original auction.
10. EXPORT AND PERMITS
It is the Buyer's sole responsibility to identify and obtain any necessary export, import, firearm, endangered species or other permit for the lot. Any symbols or notices in the sale catalogue reflect Sotheby's reasonable opinion at the time of cataloguing and offer Bidders general guidance only. Without prejudice to Conditions 3 and 4 above, Sotheby's and the Seller make no representations or warranties as to whether any lot is or is not subject to export or import restrictions or any embargoes. The denial of any permit or licence shall not justify cancellation or rescission of the sale contract or any delay in payment.
11. GENERAL
(a) All images and other materials produced for the auction are the copyright of Sotheby's, for use at Sotheby's discretion.
(b) Notices to Sotheby's should be in writing and addressed to the department in charge of the sale, quoting the reference number specified at the beginning of the sale catalogue. Notices to Sotheby's clients shall be addressed to the last address formally notified by them to Sotheby's.
(c) Should any provision of these Conditions of Business be held unenforceable for any reason, the remaining provisions shall remain in full force and effect.
(d) These Conditions of Business are not assignable by any Buyer without Sotheby's prior written consent, but are binding on Buyers' successors, assigns and representatives. No act, omission or delay by Sotheby's shall be deemed a waiver or release of any of its rights.
(e) The Contracts (Rights of Third Parties) Act 1999 is excluded by these Conditions of Business and shall not apply to any contract made pursuant to them.
(f) The materials listed in Condition 1(a) above set out the entire agreement and understanding between the parties with respect to the subject matter hereof. It is agreed that, save in respect of liability for fraudulent misrepresentation, no party has entered into any contract pursuant to these terms in reliance on any representation, warranty or undertaking which is not expressly referred to in such materials.
12. DATA PROTECTION
Sotheby's will use information provided by its clients (or which Sotheby's otherwise obtains relating to its clients) for the provision of auction and other art-related services, loan and insurance services, client administration, marketing and otherwise to manage and operate its business, or as required by law. This will include information such as the client's name and contact details, proof of identity, financial information, records of the client's transactions, and preferences. Some gathering of information about Sotheby's clients will take place using technical means to identify their preferences in order to provide a higher quality of service to them. Sotheby's may also disclose the client information to other Sotheby's Companies and/or third parties acting on their behalf to provide services for these purposes listed above.
Sometimes, Sotheby's may also disclose this information to carefully selected third parties for their own marketing purposes. If you do not wish your details to be used for this purpose, please email [email protected].
If the client provides Sotheby's with information that is defined by European data protection laws as "sensitive", the client agrees that it may be used for the purposes set out above.
In the course of these disclosures, personal data collected in the European Economic Area may be disclosed to countries outside the European Economic Area. Although such countries may not have legislation that protects a client's personal information, Sotheby's shall take reasonable steps to keep such information secure and in accordance with European data protection principles. By agreeing to these Conditions of Business, the client is agreeing to such disclosure.
Please be aware that Sotheby's may film auctions or other activities on Sotheby's premises and that such recordings may be transmitted over the Internet via Sotheby's website. Telephone bids may be recorded.
Under European data protection laws, a client may object, by request and free of charge, to the processing of their information for certain purposes, including direct marketing, and may access and rectify personal data relating to them and may obtain more information about Sotheby's data protection policies by writing to Sotheby's, 34-35 New Bond Street, London W1A 2AA, or 1334 York Avenue, New York, NY 10021, Attn: Compliance, or emailing: [email protected].
13. LAW AND JURISDICTION
Governing Law These Conditions of Business and all aspects of all matters, transactions or disputes to which they relate or apply (including any online bids in the sale to which these Conditions apply) shall be governed by and interpreted in accordance with English law.
Jurisdiction For the benefit of Sotheby's, all Bidders and Sellers agree that the Courts of England are to have exclusive jurisdiction to settle all disputes arising in connection with all aspects of all matters or transactions to which these Conditions of Business relate or apply. All parties agree that Sotheby's shall retain the right to bring proceedings in any court other than the Courts of England.
Service of Process All Bidders and Sellers irrevocably consent to service of process or any other documents in connection with proceedings in any court by facsimile transmission, personal service, delivery by mail or in any other manner permitted by English law, the law of the place of service or the law of the jurisdiction where proceedings are instituted, at the last address of the Buyer or Seller known to Sotheby's or any other usual address.


SOTHEBY'S GREENFORD PARK STORAGE AND COLLECTION INFORMATION

Smaller items can normally be collected from New Bond Street, however large items may be sent to Sotheby's Greenford Park Fine Art Storage Facility. If you are in doubt about the location of your purchases please contact the Sale Administrator (see front of catalogue) prior to collection.

COLLECTION FROM NEW BOND STREET

Lots will be released to you or your authorised representative when full and cleared payment has been received by Sotheby's, together with settlement of any removal, interest, handling and storage charges thereon, appropriate identification has been provided and a release note has been produced by our Post Sale Service Group at New Bond Street, who are open Monday to Friday 9.00am to 5.00pm.
Any purchased lots that have not been collected within 30 days from the date of the auction will be subject to handling and storage charges at the rates set out below. In addition all purchased lots that have not been collected from our New Bond Street premises within 90 days of the auction will be transferred to Sotheby's Greenford Park Fine Art Storage Facility.
Collect your property from:
Sotheby's Property Collection
Opening hours:
Monday to Friday 9.00am to 5.00pm
34-35 New Bond Street
London, W1A 2AA
Tel: +44 (0)20 7293 5358
Fax: +44 (0)20 7293 5933

COLLECTION FROM SOTHEBY'S GREENFORD PARK FINE ART STORAGE FACILITY

Lots will be released to you or your authorised representative when full and cleared payment has been received by Sotheby's, together with settlement of any removal, interest, handling and storage charges thereon, appropriate identification has been provided and a release note has been produced by our Post Sale Service Group at New Bond Street, who are open Monday to Friday 9.00am to 5.00pm.
Purchasers must ensure that their payment has been cleared prior to collection and that a release note has been forwarded to Sotheby's Greenford Park by our Post Sale Service Group at Sotheby's New Bond Street. Buyers who have established credit arrangements with Sotheby's may collect purchases prior to payment, although a release note is still required from our Post Sale Service Group as above.
Any purchased lots that have not been collected within 30 days from the date of the auction will be subject to handling and storage charges at the rates set out below.
Collect your property from: Sotheby's Greenford Park Fine Art Storage Facility
Opening hours:
Monday to Friday 8.30am to 4.30pm
Sotheby's Greenford Park,
13 Ockham Drive, Greenford, Middlesex, UB6 0FD
Tel: +44 (0)20 7293 5600
Fax: +44 (0)20 7293 5625

ROUTE GUIDANCE TO SOTHEBY'S GREENFORD PARK FINE ART STORAGE FACILITY

From Bond Street head towards Regents Park, take the A40 Marylebone Road to Western Avenue. Take the exit off the A40 signposted Greenford A4127. At the roundabout take the third exit signposted Harrow and Sudbury, A4127 onto Greenford Road. Go under the railway bridge and at the traffic lights turn first left into Rockware Avenue. At the T Junction turn right onto Oldfield Lane North and then left into Ockham Drive. Stop at the security barrier and say you are visiting Sotheby's. Once cleared, travel 300 yards down the road and Unit 13 is situated on the left hand side.
STORAGE CHARGES
Any purchased lots that have not been collected within 30 days from the date of the auction will be subject to handling and storage charges at the following rates:
Small items (such as jewellery, watches, books or ceramics): handling fee of £20 per lot plus storage charges of £2 per lot per day.
Medium items (such as most paintings or small items of furniture): handling fee of £30 per lot plus storage charges of £4 per lot per day.
Large items (items that cannot be lifted or moved by one person alone): handling fee of £40 per lot plus storage charges of £8 per lot per day.
Oversized items (such as monumental sculptures): handling fee of £80 per lot plus storage charges of £10 per lot per day.
A lot's size will be determined by Sotheby's on a case by case basis (typical examples given above are for illustration purposes only).
All charges are subject to VAT, where applicable. All charges are payable to Sotheby's at our Post Sale Service Group in New Bond Street.
Storage charges will cease for purchased lots which are shipped through Sotheby's Shipping Logistics from the date on which we have received a signed quote acceptance from you.

LIABILITY FOR LOSS OR DAMAGE

Buyers are reminded that Sotheby's accepts liability for loss or damage to lots for a maximum period of thirty (30) calendar days after the date of the auction. Please refer to Condition 7 of the Conditions of Business for Buyers.

SOTHEBY'S AUTHENTICITY GUARANTEE

If Sotheby's sells an item which subsequently is shown to be a "counterfeit", subject to the terms below Sotheby's will set aside the sale and refund to the Buyer the total amount paid by the Buyer to Sotheby's for the item, in the currency of the original sale.
For these purposes, "counterfeit" means a lot that in Sotheby's reasonable opinion is an imitation created to deceive as to authorship, origin, date, age, period, culture or source, where the correct description of such matters is not reflected by the description in the catalogue (taking into account any Glossary of Terms). No lot shall be considered a counterfeit by reason only of any damage and/or restoration and/or modification work of any kind (including repainting or over-painting).
Please note that this Guarantee does not apply if either:
(i) the catalogue description was in accordance with the generally accepted opinion(s) of scholar(s) and expert(s) at the date of the sale, or the catalogue description indicated that there was a conflict of such opinions; or
(ii) the only method of establishing at the date of the sale that the item was a counterfeit would have been by means of processes not then generally available or accepted, unreasonably expensive or impractical to use; or likely to have caused damage to the lot or likely (in Sotheby's reasonable opinion) to have caused loss of value to the lot; or
(iii) there has been no material loss in value of the lot from its value had it been in accordance with its description.

This Guarantee is provided for a period of five (5) years after the date of the relevant auction, is solely for the benefit of the Buyer and may not be transferred to any third party. To be able to claim under this Guarantee, the Buyer must:
(i) notify Sotheby's in writing within three (3) months of receiving any information that causes the Buyer to question the authenticity or attribution of the item, specifying the lot number, date of the auction at which it was purchased and the reasons why it is thought to be counterfeit; and
(ii) return the item to Sotheby's in the same condition as at the date of sale to the Buyer and be able to transfer good title in the item, free from any third party claims arising after the date of the sale.

Sotheby's has discretion to waive any of the above requirements. Sotheby's may require the Buyer to obtain at the Buyer's cost the reports of two independent and recognised experts in the field, mutually acceptable to Sotheby's and the Buyer. Sotheby's shall not be bound by any reports produced by the Buyer, and reserves the right to seek additional expert advice at its own expense. In the event Sotheby's decides to rescind the sale under this Guarantee, it may refund to the Buyer the reasonable costs of up to two mutually approved independent expert reports.
4/08 NBS_GUARANTEE MAIN


IMPORTANT NOTICES

ESTIMATES IN EUROS AND US DOLLARS

As a guide to potential buyers, estimates for this sale are also shown in Euros and US Dollars. The estimates printed in the catalogue in Pounds Sterling have been converted at the following rate, which was current at the time of printing. These estimates may have been rounded:
£1 = US$1.4509
£1 = €1.269
By the date of the sale this rate is likely to have changed, and buyers are recommended to check before bidding.
During the sale Sotheby's may provide a screen to show currency conversions as bidding progresses. This is intended for guidance only and all bidding will be in Pounds Sterling. Sotheby's is not responsible for any error or omissions in the operation of the currency converter.
Payment for purchases is due in Pounds Sterling, however the equivalent amount in any other currency will be accepted at the rate prevailing on the day that payment is received in cleared funds.
Settlement is made to vendors in the currency in which the sale is conducted, or in another currency on request at the rate prevailing on the day that payment is made by Sotheby's.

LIABILITY FOR LOSS OR DAMAGE FOR PURCHASED LOTS

Purchasers are requested to arrange clearance as soon as possible and are reminded that Sotheby's accepts liability for loss or damage to lots for a maximum period of thirty (30) calendar days following the date of the auction. Please refer to condition 7 of the Conditions of Business for Buyers.

COLLECTION OF LOTS MARKED 'W'

All purchased lots marked in the catalogue with a W will be transferred from the saleroom to Sotheby's Greenford Park Fine Art Storage Facility after 5 pm on the day of the sale. Collection can be made from Sotheby's Greenford Park two days after the sale, but not on the day immediately following the sale.
Exceptions to this procedure will be notified by auction room notice and announced at the time of the sale. After 30 days storage charges will commence.
Please see the Buying at Auction guide for further information.


SAFETY AT SOTHEBY'S

Sotheby's is concerned for your safety while you are on our premises and we endeavour to display items safely so far as is reasonably practicable. Nevertheless, should you handle any items on view at our premises, you do so at your own risk.
Some items can be large and/or heavy and can be dangerous if mishandled. Should you wish to view or inspect any items more closely please ask for assistance from a member of Sotheby's staff to ensure your safety and the safety of the property on view.
Some items on view may be labelled "PLEASE DO NOT TOUCH". Should you wish to view these items you must ask for assistance from a member of Sotheby's staff who will be pleased to assist you. Thank you for your co-operation.
11/10 NBS_NOTICE_€ & $US


GLOSSARY OF TERMS

The following are examples of the terminology used in this catalogue. Any statement as to authorship, attribution, origin, date, age, provenance and condition is a statement of opinion and is not to be taken as a statement of fact.
Please read carefully the terms of the Authenticity Guarantee and the Conditions of Business for Buyers set out in this catalogue, in particular Conditions 3 and 4.
1. GIOVANNI BELLINI
In our opinion a work by the artist. (When the artist's forename(s) is not known, a series of asterisks, followed by the surname of the artist, whether preceded by an initial or not, indicates that in our opinion the work is by the artist named.
2. ATTRIBUTED TO GIOVANNI BELLINI
In our opinion probably a work by the artist but less certainty as to authorship is expressed than in the preceding category.
3. STUDIO OF GIOVANNI BELLINI
In our opinion a work by an unknown hand in the studio of the artist which may or may not have been executed under the artist's direction.
4. CIRCLE OF GIOVANNI BELLINI
In our opinion a work by an as yet unidentified but distinct hand, closely associated with the named artist but not necessarily his pupil.
5. STYLE OF............; FOLLOWER OF GIOVANNI BELLINI
In our opinion a work by a painter working in the artist's style, contemporary or nearly contemporary, but not necessarily his pupil.
6. MANNER OF GIOVANNI BELLINI
In our opinion a work in the style of the artist and of a later date.
7. AFTER GIOVANNI BELLINI
In our opinion a copy of a known work of the artist.
8. The term signed and/or dated and/or inscribed means that in our opinion the signature and/or date and/or inscription are from the hand of the artist.
9. The term bears a signature and/or date and/or inscription means that in our opinion the signature and/or date and/or inscription have been added by another hand.
10. Dimensions are given height before width
1/03 NBS_GLOS_OMP
In recognition of the high standards of business administration and our compliance with all required customs protocols and procedures, Sotheby's UK
has been awarded the European Union Authorised Economic Operator status by Her Majesty's Revenue and Customs.
Sotheby's UK is committed to improving its sustainability, conserving resources and reducing the environmental impact of its various operations. A copy of Sotheby's Environmental Policy is available on request. Main Enquiries: +44 (0)20 7293 5000.
Photography
Brian Watt
Catalogue Designer
James Davis
Colour Editor
James Stabler
Production Controller
Emilie Ludot


INTERNATIONAL DEPARTMENTS

For a full listing of our offices and salerooms worldwide with detailed information on all of Sotheby's services, visit sothebys.com
OLD MASTER PAINTINGS
London
Alexander Bell
George Gordon
Arabella Chandos
Andrew Fletcher
Cecilia Treves
Chloe Stead
Georgina Eliot
Alice Herford
+44 (0)20 7293 6414
PRIVATE TREATY SALES
James Macdonald
+44 (0)20 7293 5887
New York
George Wachter
Christopher Apostle
Edoardo Roberti
Andrea Kust
Beatrice Stern
Calvine Harvey
David Pollack
Jonquil O'Reilly
+1 212 606 7230
Amsterdam
Judith Niessen
+31 20 550 2203
Brussels
Marianna Lora
+322 627 7187


Paris
Pierre Etienne
Lucia Mestre
+33 1 5305 53 26
Madrid
Marta Oliden
+34 91 576 5714
Milan
Alberto Chiesa
+39 02 2950 0207
Monaco
Mark Armstrong
+37 7 9330 8880
Geneva
Emily Black
+41 22 908 4849
BRITISH PAINTINGS
London
Julian Gascoigne
David Moore-Gwyn (consultant)
+44 (0)20 7293 6414


BRITISH DRAWINGS, WATERCOLOURS AND PORTRAIT MINIATURES
London
Mark Griffith-Jones
+44 (0)20 7293 5083
OLD MASTER DRAWINGS
London & New York
Gregory Rubinstein
Cristiana Romalli
Claire Anderson
Alexander Faber
+44 (0)20 7293 6450
Paris
Pierre Etienne
Lucia Mestre
+33 1 5305 53 26
Amsterdam
Judith Niessen
+31 20 550 2203


FORTHCOMING AUCTIONS
A comprehensive calendar of international auctions, in addition to all sale results, can be viewed at sothebys.com
OLD MASTERS EVENING SALE
7 December 2016
London

OLD MASTERS DAY SALE
8 December 2016
London

OLD MASTERS
January 2017
New York

INDEX
Aelst 153
Anesi 192
Antwerp School 126

Backhuysen 158
Baldrighi 201
Bastarolo 167
Batoni 190
Beerstraaten 152
Bigg 219
Bloemaert 121
Bosschaert 125
Bray 140
Brueghel 119
Brunswick Monogrammist 116

Camuccini 206
Carreño 180
Castilian School 163
Catena 165
Cleve 104
Coecke van Aelst 106
Colson 204
Conca 189
Constable 218
Crespi 170

Dael 213
Dou 123
Duck 136
Dutch or English School 145
Dyck 127

Ferg 144
Ferneley 217
Florentine School 174, 179
Francken 117

Gainsborough 209
Garofalo 164
Gassel 101
Gerung 107
Goya 194
Gramatica 169
Greco 183
Greuze 205
Grimmer 108
Guardi 200
Gundelach 118

Hamen 181
Hanneman 128
Heusch 141
Hickey 214


Italian School 173

Janneck 193
Joli 199

Kauffmann 202
Kessel 132
Key 111
Kraen 133

Lacroix 197
Landseer 220
Lely 115
Lopez 184

Maes 137
Maratta 187
Martin 207
Massys 103
Master of Sainte Gudule 105
Master of the Prodigal Son 109
Molenaer 151
Morland 215
Morone 161
Mulier 154

Oosten 124
Oudry 196

Palamedesz 159
Parra 182
Peake 110
Peroni 188
Piombo 168
Polo 186
Ponce 185
Pozzoserrato 166
Priwitzer 113

Raeburn 211, 212
Rembrandt 130
Reni 171
Ribera 177
Rigaud 203
Ring 150
Rotius 135
Rubens 129

Sassoferrato 178
Schedoni 176
Schütz 191
Seeman 208
Sirani 172
Son 134
Sonjé 148
Steen 138

Teniers 160
Thulden 122
Tintoretto 175

Uyl 149

Valckenborch 102
Valckert 143
Veerendael 156
Velde 157
Verbeeck 147
Vernet 195, 198
Vitringa 155
Walker 112, 114
Ward 216
Weenix 139
Wijnen 131
Willaerts 146
Wootton 210
Wouwerman 142
Wtewael 120
Zanino 162


WHAT INFORMATION COLLECTED ON THE SOTHEBY'S ON INVALUABLE ONLINE PLATFORM DOES SOTHEBY'S RECEIVE FROM INVALUABLE

User-Provided Information
Invaluable collects Personal Information about Invaluable users who register and/or bid via the Sotheby's on Invaluable Online Platform and may share that information with Sotheby's. Invaluable may collect such Personal information, for example, through users' activities, transactions and completion of online forms on the Platform. Such information is collected, for example, when users register to bid, place bids, are successful in purchasing at auction, submit a comment or question to Invaluable, contact Invaluable or Sotheby's for customer service or use any similar "contact us" feature, send Sotheby's or Invaluable an email, or in any other way submit Personal Information to Invaluable related to their use of the Sotheby's on Invaluable Online Platform.

How is your Personal Information used
Sotheby's will use the Personal Information that Invaluable shares with us to provide services to you. For example, Sotheby's may use your Personal Information to respond to your requests and inquiries, to provide you with client service that you request, and to prevent, detect and to investigate fraud, security breaches, or other potentially prohibited or illegal behavior and to enforce our policies. We will also use your Personal Information to maintain our internal record keeping, to run credit checks and to report to credit bureaus. Late payments, missed payments, or other defaults in connection with your transaction activity on the Sotheby's on Invaluable Online Platform may be reflected in your credit report. We may match or combine information collected from you through different means or at different times, including both Personal Information and information about your use of the Platform, and use such information along with information obtained from other sources, including from third parties.

In addition, we may use your Personal Information to contact you via email, telephone or postal mail or as you otherwise authorize us in order to inform you about certain other Sotheby's events and services.

Marketing Preferences
You have the right to "opt in" and "opt out" of certain of our uses of your Personal Information and may change your preferences regarding such uses at any time. For example, you may have the opportunity to elect whether or not to receive commercial correspondence from us related to certain auctions, sales and other services. You may also opt-out of Sotheby's promotional e-mails by clicking on the opt-out link within the e-mail you receive from us, or of Sotheby's postal mailings by following the directions in such mailings. Please be aware that it may take up to 10 business day(s)for Sotheby's to update your preferences. During that time, you may continue to receive messages from us.

Please understand that if you opt-out of receiving promotional correspondence from us, we may still contact you in connection with your relationship, activities, transactions and communications with us, including on the Sotheby's on Invaluable Online Platform.

Do we share Personal Information and Web Site Usage Information with others?
Sotheby's does not sell, lease or give your Personal Information we receive from Invaluable relating to Sotheby's on Invaluable Online Platform to any other company, except as otherwise described herein.

Service Providers
Sotheby's may use third party partners to provide products or services to you. We, may, when necessary to do so, share your Personal Information with our affiliates, service providers or other third parties that provide products or Services for or through this Web Site or for our business purposes (such as Web site or database hosting companies, address list hosting companies, e-mail service providers, analytics companies, distribution companies, fulfillment companies, and other similar service providers that use such information on our behalf). These third party partners are obligated to protect the security and confidentiality of your information.

Call Center
Sotheby's may provide certain Personal Information to Sotheby's third-party call center. The third-party call center is required to keep all sensitive information about you and your use of this Web Site confidential. The call center is required to use your information solely in order to help you with registration or sign-in problems and other services.

Aggregate Statistics
We may disclose aggregate statistics regarding user behavior as a measure of interest in, and use of, this Web Site and e-mails to third parties in the form of aggregate data, such as overall patterns or demographic reports that do not describe or identify any individual user. Aggregate statistics we disclose in this manner do not contain your Personal Information.

Legally Compelled Disclosures
We may disclose user information to government authorities or other third parties when we believe such disclosure is required by law. We may also disclose user information as necessary to enforce the Sotheby's Web Site Terms and Conditions, in connection with investigations, or when we believe disclosure is necessarily incident to the provision of Sotheby's services or to the protection of the rights, property or safety of Sotheby's or others.

Business Transfer
Sotheby's regards its databases of customer information (which will include your Personal Information) as a valuable asset. In the event that Sotheby's, any entity of The Sotheby's Group, or substantially all of its or their assets, are acquired by one or more third parties as a result of an acquisition, merger, sale, reorganization, consolidation or liquidation, such databases containing Personal Information may be one of the transferred assets. In addition, such a transfer may mean that your Personal Information is transferred to countries outside the European Economic Area ("EEA") even if you are located within the EEA. By using the Services you consent to such transfer of your Personal Information.

Your Access Rights
You may review and edit the Personal Information that is stored by Sotheby's by contacting Sotheby's via the email address at the end of this policy. We will endeavor to respond to your request as soon as practicable. Before we are able to provide you with any information, correct any inaccuracies or delete any information, however, we may ask you to verify your identity and to provide other details to help us to respond to your request. In addition, you have the right to request access to the Personal Information that we hold about you at any time.

Security
Sotheby's will take reasonable steps to protect the security and integrity of the Personal Information Invaluable shares with us, including by making your Personal Information available to our employees and agents only on a need-to-know basis. However, due to the inherent nature of the Internet as an open global communications vehicle, we cannot guarantee that information, during transmission through the Internet or while stored on our system or otherwise in our care, will be absolutely safe from intrusion by others, such as hackers.

If you contact us by e-mail or a "contact us" or similar feature on our Web Site, you should be aware that your transmission might not be secure. A third party could view information you send by these methods in transit.

We will have no liability for disclosure of your information due to errors or unauthorized acts of third parties.
In the unlikely event that we believe that the security of your Personal Information in our possession or control may have been compromised, we may seek to notify you of that development. If a notification is appropriate, we will endeavor to do so as promptly as possible under the circumstances, and, if we have your e-mail address, we may notify you by e-mail. You consent to our use of e-mail as a means of such notification.

Phishing
With identity theft a continuing problem, it has become increasingly common for unauthorised individuals to send e-mail messages to consumers, purporting to represent a legitimate company such as a bank or on-line merchant, requesting that the consumer provide personal, often sensitive information. Sometimes, the domain name of the e-mail address from which the e-mail appears to have been sent, and the domain name of the web site requesting such information, appears to be the domain name of a legitimate, trusted company. In reality, such sensitive information is received by an unauthorized individual to be used for purposes of identity theft. This illegal activity has come to be known as "phishing."
Sotheby's will never request your password or social security number via e-mail. If you receive an e-mail or other correspondence requesting that you provide any sensitive information (including your password for the Platform or your credit card information) via e-mail or to a web site that does not seem to be affiliated with Sotheby's or Invaluable, or that otherwise seems suspicious to you, please do not provide any information in response to the request, and report such request to us.

Consent to Worldwide Transfer and Processing of Personal Data
Sotheby's is a global enterprise, with affiliates worldwide. When you give your Personal Information to Sotheby's, it may be processed by Sotheby's in all countries in which Sotheby's has affiliates. Each of these countries has different privacy laws that afford varying levels of protection for your Personal Information. Regardless of the laws in place in these countries, Sotheby's will treat the privacy of your information in accordance with the terms of this Privacy Policy. By providing your Personal Information to Sotheby's, you consent to Sotheby's transmission to, and processing of your information in, any jurisdiction, in accordance with this Privacy Policy.

Changes to this Privacy Policy
Sotheby's reserves the right to change or update this Privacy Policy, or any other of our policies or practices, at any time, and will notify users of this Web Site by posting such changed or updated Privacy Policy on this Web Site, or by otherwise making such changed or updated Privacy Policy accessible to affected users. Any changes or updates will be effective immediately upon posting to this Web Site, or upon such other notice by us. Under certain circumstances, we may also elect to notify you of changes or updates to our Privacy Policy by additional means, such as by sending you an e-mail.

If you have any questions or comments regarding our privacy practices or wish to verify or change the information in our files, you may contact us at [email protected]. You may also send mail to us with any comments, questions or concerns at:

Sotheby's.
1334 York Avenue
New York, New York 10021
Attention: Data Quality Department
Last Modified: March 15, 2016

Addition Credit Card Information

You must contact us with your credit card information to process payment within 48 hours of auction closing. Shipping is available for a fee as a convenience to our buyers. Items won and shipping charges will be processed as separate credit card transactions.