AUCTION TITLE/PREVIEW DATES

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SPECIALISTS & SERVICES

Specialists and Services for this Auction
SPECIALISTS
Sam Hines
Sabine Kegel
Dr. Nathalie Monbaron
Jenny Tumpelmann
Audrey Humbert
Marcello de Marco
Annick Vernet
Tel: +41 (0)22 319 1724
Fax: +41 (0)22 319 1721

AUCTION ADMINISTRATOR
Joanna Hopkins
Tel: +41 (0)22 319 1725
Fax: +41 (0)22 319 1721

CATALOGUERS
Jenny Tumpelmann
Audrey Humbert
Marcello de Marco
Annick Vernet
Tel: +41 (0)22 319 1762
Fax: +41 (0)22 319 1721

BUSINESS MANAGER
Stéphane von Bueren
Tel: +41 (0)22 319 1791
Fax: +41 (0)22 319 1721

EMAIL
First initial followed by
last name@christies.com
(e.g. Sam Hines = shines@christies.com).
For general enquiries about this auction
emails should be addressed to the
Auction Administrator(s).


SERVICES

ABSENTEE AND TELEPHONE BIDS
Tel: +41 (0)22 319 1724
Fax: +41 (0)22 319 1721
Internet: www.christies.com

CHRISTIE’S LIVE ENQUIRIES
Tel: +41 (0)22 319 1740
UK: +44 (0)20 7840 1400
US: +1 212 468 7400
Internet: www.christies.com

AUCTION RESULTS
UK: +44 (0)20 77839 9060
US: +1 212 703 8080
Internet: www.christies.com

CATALOGUES ONLINE
Lotfnder®
Internet: www.christies.com

CLIENT SERVICES
Tel: +44 (0)20 7839 9060
Fax: +44 (0)20 7389 2869
Email : info@christies.com

PAYMENT
Buyers
Tel: +41 (0)22 319 1740
Fax: +41 (0)22 319 1741
Consignors
Tel: +44 (0)20 7389 2082

SHIPPING
Tel: +41 (0)22 319 1758
Fax: +41 (0)22 319 1751

STORAGE AND COLLECTION
Tel: +41 (0)22 319 1724
Fax: +41 (0)22 319 1721

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IMPORTANT NOTICES

IMPORTANT NOTICES

CHRISTIE’S INTEREST IN PROPERTY
CONSIGNED FOR AUCTION
From time to time, Christie’s may offer a lot
which it owns in whole or in part. Such property
is identified in the catalogue with the symbol
Δ next to the lot number. On occasion, Christie’s
has a direct financial interest in lots consigned for
sale which may include guaranteeing a minimum
price or making an advance to the consignor that
is secured solely by consigned property. Such
property is identified in the catalogue by the symbol
˚ next to the lot number. Where Christie’s has an
ownership or financial interest in every lot in the
catalogue, Christie’s will not designate each lot with
a symbol, but will state its interest at the front of
the catalogue.
In this catalogue, if property has a °♦ next to the lot
number, Christies guarantee of a minimum price has
been fully financed through third parties.

ALL DIMENSIONS ARE APPROXIMATE

CONDITION REPORTS
Christie’s catalogues include references to condition
only in descriptions of multiple works (such as
prints, books and wine). For all other property,
only alterations or replacement components are
listed. Please contact the Specialist Department for a
condition report on a particular lot.
Condition reports are provided as a service to
interested clients. Prospective buyers should note
that descriptions of property are not warranties and
that each lot is sold “as is”.

PROPERTY INCORPORATING MATERIALS
FROM ENDANGERED AND OTHER
PROTECTED SPECIES
Property made of or incorporating (irrespective
of percentage) endangered and other protected
species of wildlife are marked with the symbol ~
in the catalogue. Such material includes, among
other things, ivory, tortoiseshell, crocodile skin,
rhinoceros horn, whale bone and certain species of
coral, together with Brazilian rosewood. Prospective
purchasers are advised that several countries prohibit
altogether the importation of property containing
such materials, and that other countries require a
permit (e.g., a CITES permit) from the relevant
regulatory agencies in the countries of exportation
as well as importation. Accordingly, clients should
familiarize themselves with the relevant customs laws
and regulations prior to bidding on any property
with wildlife material if they intend to import the
property into another country. Please note that
it is the client’s responsibility to determine and
satisfy the requirements of any applicable laws or
regulations applying to the export or import of
property containing endangered and other protected
wildlife material. The inability of a client to export
or import property containing endangered and
other protected wildlife material is not a basis for
cancellation or rescission of the sale. Please note also
that lots containing potentially regulated wildlife
material are marked as a convenience to our clients,
but Christie’s does not accept liability for errors
or for failing to mark lots containing protected or
regulated species.

TO PROSPECTIVE BUYERS OF
CLOCKS AND WATCHES
The description of the condition of clocks and
watches in this catalogue, including references
to defects and repairs, is provided as a service to
prospective buyers, but such description is not
necessarily complete. While Christie’s will furnish
a condition report on any lot to a prospective
purchaser upon request, any such report may also
be incomplete and may not specify all mechanical
replacements or defects. Accordingly, all clocks
and watches should be viewed personally by
prospective buyers to evaluate the condition of the
property offered for sale. All lots are sold “as is,”
and the absence of any reference to the condition
of a clock or watch does not imply that the lot is
in good condition and without defects, repairs
or restorations. Virtually all clocks and watches
have been repaired in the course of their normal
useful lifetime and may now incorporate parts not
original to them. Furthermore, Christie’s makes no
representation or warranty that any clock or watch
is in working order. As collectors’ watches often
contain extremely fine and complex mechanisms,
buyers should be aware that a general service, change
of battery or further repair work, for which the
buyer is solely responsible, may be necessary.

REGARDING IMPORTATION OF
WATCHES INTO THE US
The importation of luxury watches such as Rolex
into the United States is highly restricted. Such
watches may not be shipped to the United States and
can only be imported personally. Generally, a buyer
may import only one watch into the United States
at a time. In this catalogue, these watches have been
marked with a Φ.
This will not affect your responsibility to pay for
the lot. For further information please contact our
specialists in charge of the sale.
For further information please contact our specialists
in charge of the sale.

REGARDING THE EXPORT OF WATCH
BANDS INCORPORATING MATERIALS
FROM ENDANGERED SPECIES
Many of the watches offered for sale in this
catalogue are pictured with straps made of
endangered or protected animal materials such as
alligator or crocodile. These lots are marked with
the symbol ~ in the catalogue. These endangered
species straps are shown for display purposes
only and are not for sale. Christie’s will remove
and retain the strap prior to shipment from the
sale site. At some sale sites, Christie’s may at its
discretion make the displayed endangered species
strap available to the buyer of the lot free of charge
if collected in person from the sale site within 1
year of the date of the sale. Please check with the
department for details on a particular lot.
For all symbols and other markings, please note
that lots are marked as a convenience to you, but
we do not accept liability for errors or for failing to
mark lots.

LOTS OFFERED WITHOUT RESERVE
Please note that all lots highlighted with red titles in
this sale are offered ‘Without Reserve’. These items
will be sold to the highest bidder, regardless of the
pre-sale estimate printed in the catalogue. We hope
that you will find this visual presentation helpful.

CATALOGUE EXCHANGE RATE:
US$1 = SFr 0.90
Ç1 = SFr 1.20
The rate of exchange was established at the latest
practical date prior to the printing of the catalogue
and may therefore have changed by the time of
the sale.
Bidders should bear in mind that estimates are
prepared well in advance of the sale and are not
definitive. They are subject to revision.

AVIS IMPORTANT
Tous les objets sont vendus tels que décrits dans le
présent catalogue.
Les dommages importants survenus à l’objet–desquels
sont exclus tant les défauts et imperfections originaux
que les remises en état ultérieures–sont dans la mesure
du possible signalés à l’attention des Acheteurs
potentiels dans le descriptif du lot.
Les mentions figurant dans le catalogue doivent
être considérées comme de simples indications et
n’engagent en aucun cas la responsabilité de Christie’s.
Les Acheteurs doivent s’assurer eux-mêmes avant la
vente de l’état matériel de chaque lot, notamment
en ce qui concerne l’état de marche de l’objet, sa
conservation, ainsi que les diverses réparations et
autres restaurations que l’objet a subi.
Christie’s attire l’attention des Acheteurs sur le fait
que la plupart des montres-bracelets dont le boîtier
est résistant à l’eau, ont été ouvertes par les soins de
ses employés afin d’identifier le modèle et la qualité
du mouvement. Christie’s ne peut par conséquent
prendre aucun engagement ayant trait au caractère
étanche desdites montres et conseille aux Acheteurs
de s’adresser à un horloger qualifié avant tout usage.
Il est à noter que l’or plus faible que 18ct. n’est
pas reconnu dans tous les pays en tant que ‘or’
et l’importation peut être refusée. Christie’s
ne pourra accepter aucune responsabilité si
l’importation est refusée.
Christie’s attire l’attention des Acheteurs sur le fait
que toutes les montres Rolex dans le catalogue de
vente de Christie’s sont vendues telles que présentées
à l’exposition précédant la vente et que Christie’s ne
peut pas garantir l’authenticité des différentes parties
composant ces montres Rolex. Les bracelets décrits
comme “associated” ne font pas partie de la pièce
originale et peuvent ne pas être authentiques. Les
Acheteurs potentiels ont l’opportunité de procéder
eux-mêmes à une vérification personnelle des lots
dans les jours qui précèdent la vente. Des rapports
sur l’état des lots sont sur demande fournis ‘sous
toutes réserves’ par Christie’s conformément aux
termes des conditions de vente imprimées au début
du catalogue. Ces rapports sont proposés à titre
d’indications générales et de ce fait ne contiennent
aucune mention relative à des éventuelles
imperfections ou remplacements intervenus au
niveau du mécanisme de la montre.
De tels rapports ne consistent dès lors qu’en la
retranscription fidèle de l’opinion de leurs auteurs.
Les Acheteurs sont avisés que des certificats ne sont
disponibles que dans les cas expressément prévus
dans le catalogue.

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BUYING AND SELLING

Buying at Christie’s

CONDITIONS OF SALE
Christie’s Conditions of Sale and Limited Warranty are set
out later in this catalogue Bidders are strongly encouraged
to read these as they set out the terms on which property is
bought at auction.

ESTIMATES
Estimates are based upon prices recently paid at auction
for comparable property, condition, rarity, quality and
provenance. Estimates are subject to revision. Buyers
should not rely upon estimates as a representation or
prediction of actual selling prices. Estimates do not
include the buyer’s premium or VAT. Where “Estimate
on Request” appears, please contact the Specialist
Department for further information.

RESERVES
The reserve is the confidential minimum price the consignor
will accept and will not exceed the low
pre-sale estimate. Lots that are not subject to a reserve are
identified by the symbol • next to the lot number and are
highlighted with red titles.

BUYER’S PREMIUM AND VAT
Buyers are reminded that the actual purchase price will be
the sum of the final bid price plus the buyer’s premium. The
premium to the Buyer is 25% of the first SFr 100,000 of
the Hammer Price, plus 20% of the excess of the Hammer
Price above SFr 100,000 up to and including SFr 2,000,000
plus 12% of any sum in excess of SFr 2,000,000. For further
details please refer to Conditions of Sale No. 3.
For Wine, the premium is 17.5% of the hammer price.

PRE-AUCTION VIEWING
You can attend pre-sale viewings for all our auctions at
no charge. All property to be auctioned is usually on view
for several days prior to the sale. You are encouraged to
examine lots thoroughly and to request condition reports
(see below). Christie’s specialists and client service staff are
available to give advice at all viewings or by appointment.

BIDDER REGISTRATION
Prospective buyers who have not previously bid or
consigned with Christie’s should bring:
• Individuals: government-issued photo identification (such
as a driving licence, national identity card, or passport) and,
if not shown on the ID document, proof of current address,
for example a utility bill or bank statement.
• Corporate clients: a photocopy of the company register.
• For other business structures such as trusts, offshore
companies or partnerships, please contact Christie’s Credit
Department at +41 (0)22 319 1740 for advice on the
information you should supply.
• A financial reference in the form of a recent bank statement
or a reference from your bank. Christie’s can supply a form
of wording for the bank reference if necessary.
• Persons registering to bid on behalf of someone who has
not previously bid or consigned with Christie’s should bring
identification documents not only for themselves but also
for the party on whose behalf they are bidding, together
with a signed letter of authorisation from that party.
To allow sufficient time to process the information, new
clients are encouraged to register at least 48 hours in
advance of a sale.
Prospective buyers who wish to bid in the saleroom can
register online in advance of the sale, or can come to the
saleroom on the day of the sale approximately 30 minutes
before the start of the sale to register in person.
Clients who have not made a purchase from any Christie’s
office within the last two years and those wishing to spend
more than on previous occasions, will be asked to supply a
new bank reference. For assistance with references,
please contact Christie’s Credit Department at
+41 (0)22 319 1740.

REGISTERING TO BID ON SOMEONE ELSE’S BEHALF
Persons bidding on behalf of an existing client should bring
a signed letter from the client authorising the bidder to
act on the client’s behalf. Please note that Christie’s does
not accept payments from third parties. Christie’s can only
accept payment from the client, and not from the person
bidding on their behalf.

BIDDING
The auctioneer accepts bids from those present in the
saleroom, from telephone bidders, or by absentee written
bids left with Christie’s in advance of the auction. The
auctioneer may also execute bids on behalf of the seller
up to the amount of the reserve. The auctioneer will not
specifically identify bids placed on behalf of the seller. Under
no circumstances will the auctioneer place any bid on behalf
of the seller at or above the reserve. Bid steps are shown on
the Absentee Bid Form at the back of this catalogue.

ABSENTEE BIDS
If you cannot come to an auction in person, Christie’s can
bid for you. There is no charge for this service, known as
commission bidding. You simply pay the final bid price plus
the premium and VAT in the usual way, as explained on
the written bids form included at the back of this catalogue.
Absentee bids submitted on “no reserve” lots will, in the
absence of a higher bid, be executed at approximately 50%
of the low pre sale estimate or at the amount of the bid if it is
less than 50% of the low pre-sale estimate.
Please note we can not accept bids by e-mail.

TELEPHONE BIDS
If you cannot attend the auction, you are welcome to bid on
the telephone on lots with a minimum estimate of SFr 10,000.
(We also recommend that you leave a covering bid which
we can execute on your behalf just in case we are unable to
reach you by telephone).
As the number of telephone lines are limited please make
arrangements for this service at least 2 hours before the sale,
especially if you wish to bid in a language other than English:
Client Services:
Tel: +41 (0)22 319 1725
Fax: +41 (0)22 319 1721

SUCCESSFUL BIDS
The fall of the auctioneer’s hammer indicates the final bid.
The auctioneer will call out and record the name or “paddle”
number of the buyer. If your written bid is successful, you
will be notified immediately after the sale by post. Bidding
may be re-opened at the auctioneer’s discretion.

PAYMENT
Payment and Collection of Goods
Payment must be made within seven calendar days of the
sale and the property you have bought can then be collected.
Goods can only be collected when payment has cleared.
Payment can be made by cash up to SFr. 12.500, or by
credit card (Amex, Visa, Mastercard), debit card (EC) or
by bank transfer direct to our bank:
Crédit Suisse
Case Postale 100
1211 Geneva 70
Switzerland
Account No: 161766 - 41
CLEARING 4835
IBAN CH30 0483 5016 1766 4100 0
SWIFT CODE: CRESCHZZ12A
Please note that payments by credit card are subject to
administrative fees (1% for Amex and 2.5% for Visa and
Mastercard). There is no surcharge for debit card payments.
In the case of distance payments, written instructions,
including the cardholder’s signature, must be sent to Christie’s.
To avoid any delay in releasing goods, prospective buyers
should supply bank references before the auction.
Please include your name and invoice number with your
instructions to the bank.
Christie’s Geneva no longer accept personal or company
cheques as payment.
Payment by cash, credit cards and debit cards will enable
immediate release of purchases. Cheques are not accepted.
Please note that transfer of lots is not recognised. The
successful bidder during the auction is solely responsible for
payment to Christie’s.
Please note that Christie’s will not accept payments for
purchased Lots from any party other than the buyer, unless
otherwise agreed between the buyer and Christie’s prior to
the sale.

VALUE ADDED TAX (VAT)
VAT of 8% is applicable in all cases on the hammer price
and Buyer’s premium. If the purchased lots are subsequently
exported, VAT on the hammer price and premium is
refundable by Christie’s on production of an export declaration
stamped by Swiss Customs. For further information please
contact Yann Baumann on +41 (0)22 319 1740.

SHIPPING
Christie’s can organise shipment within 24 hours upon
receipt of payment and precise delivery instructions, through
its international forwarder Veron Graver S.A., CH-1211
Geneva Airport 5 (for jewellery and watches) and Harsch
SA. Rue Baylon 10, CH-1227 Geneva (for all works of
art). Estimates for the shipping of any property and advice
on the most secure and economic means of dispatch can be
obtained from our shipping department:
Tel: +41 (0)22 319 1758
Fax: +41 (0)22 319 1751

SALE RESULTS
The Christie’s International Auction Results Service
provides sale results for all Christie’s sales via the telephone.
You can obtain faxed results for an entire sale.
To access the system dial: +44 (0)20 7627 2707
You will pay normal telephone rates for your local or
international call. Spoken results are available shortly after
lots have been sold. Faxed results for entire sales are usually
available the day following each sale.
Christie’s cannot accept liability for any errors or
ommissions, howsoever caused. Sellers should await their
settlement statement as confirmation of any sold proceeds.
Price lists are also available on our website at
http://www.christies.com

STORAGE AND COLLECTION
Buyers are advised that all purchases not collected on the
day of the sale will be held for collection at no charge for
twenty-eight days.

SELLERS
Unsold lots that are not going to be re-offered in a later sale
and are not collected from the saleroom by
Wednesday 13 November 18.00h can be collected at
Christie’s,
8 place de la Taconnerie,
1204 Geneva.
Tel: +41 (0)22 319 1724
Fax: +41 (0)22 319 1721
COLLECTION TIMES
Items can be collected at the Four Seasons Hotel des Bergues
as follows:
Monday 12 May
until 1 hour after the end of the last session
Tuesday 13 May
from 10.00h to 18.00h
Wednesday 14 May
from 10.00h to 18.00h
After this, items can be collected from Christie’s offices in
Geneva at 8 place de la Taconnerie from Thursday 15 May,
for a period of approximately 28 days.
Thereafter they will be transferred to our Storage
department at the Free Port where a minimum charge of
SFr 100 per item will be incurred.

EXPORT OF CULTURAL PROPERTY
Certain lots consigned to us for sale at auction are subject
to the Swiss Federal Law on the international transfer of
Cultural Property. This law contains rules governing the
export of Cultural Property as defined by the Unesco
Convention of 14 November 1970, which sets out the
measures to be taken in order to prevent the illicit import,
export and trading of Cultural Property. Pursuant to this law
the export of such Cultural Property from Switzerland must
be declared and prior authorisation may also be required.
Christie’s is at your disposal in the event that you require any
further information in relation to these rules.
Lots are available for collection after payment has been made
to Christie’s

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CONDITIONS OF SALE

CONDITIONS OF SALE

These Conditions of Sale and the Important Notices
and Explanation of Cataloguing Practice contain all
the terms on which Christie’s and the seller contract
with the buyer. They may be amended by posted
notices or oral announcements made during the
sale. By bidding at auction you agree to be bound
by these terms.

1.
The highest bidder shall be the Buyer; and if any
dispute arises between two or more bidders, the lot
so in dispute shall be immediately put up again
and resold.

2.
The huissier or the auctioneer may advance the
bidding, separate, join or withdraw any lot at his sole
discretion. The minimum rate by which a bid may
be increased is 10%. The huissier may, however,
change this ratio during the sale upon advance
notice.
The Seller shall not bid for his own objects and shall
not cause any person to bid for him. Christie’s alone
may bid on behalf of the Seller.
If the reserve price is not reached, Christie’s may
reject the last bid and fix another starting price not
below the reserve price.
Failing a bid equal to or above the reserve price,
Christie’s shall withdraw the object without
knocking it down to anybody. Christie’s reserves the
right, however, to sell the object by private contract
after the sale, provided that, in such case, the price
shall not be less than the reserve price, subject to
prior agreement of the Seller otherwise.

3.
The premium to the Buyer is 25% of the first
SFr 100,000 of the Hammer Price, plus 20% of the
excess of the Hammer Price above SFr 100,000 up to
and including SFr 2,000,000 plus 12% of any sum
in excess of SFr 2,000,000. For Wine, the premium
is 17.5% of the hammer price. VAT of 8% is added to
the hammer price and to the premium. This tax is
refunded to Buyers domiciled outside Switzerland
upon receipt by Christie’s for each object of an
export declaration stamped by Swiss Customs
within 30 days of the collection date. This refund
is recovered by Christie’s from the Swiss Fiscal
Authorities only on presentation of the stamped
declaration. The Authorities will not entertain
a claim without presentation of this form duly
stamped by Swiss Customs.
The total amount obtained by adding to the hammer
price the Buyer’s commission and VAT shall
constitute the purchase price for the purposes hereof.

4.
For the Buyer’s guidance, a currency converter
will be operated at some auctions showing rates
of conversion applying on the date immediately
preceding the date of sale as notified to Christie’s by
a major bank.
Christie’s shall accept no responsibility in this respect,
in particular for any mistakes in the conversion into
Swiss francs and/or foreign currencies.

5.
All statements in the catalogues, advertisements
or brochures of forthcoming sales of Christie’s are
statements of opinion only and do not constitute
any warranty by Christie’s or the Seller. Intending
Buyers must satisfy themselves before the sale
regarding the physical description and condition of
any lot, and as to any defects or any repairs effected
or required.
The estimated selling price of each lot is printed
beneath the lot description and does not include the
Buyer’s premium or VAT. These prices are based on
estimations made some time ahead of the sale and
may therefore be revised before the sale.

6.
Christie’s acts as agent for the Seller only.
Neither Christie’s nor the Seller shall be responsible
for any defects of any objects, nor do they warrant
the correctness of statements concerning authorship,
origin, date, age, attribution, genuineness,
provenance, weight or condition of any object.
Nor has any person in the employ of Christie’s
any authority to make or give any representation
or warranty.

7.
The Buyer acquires title to the object as it is
knocked down to him and any profits or risks from
such moment shall be his.

8.
Where a Buyer discovers, after the sale, that the
object which he has acquired is determined to be
a forgery, he shall return it to Christie’s within
one year from the day he became aware thereof,
enclosing all pieces of evidence on which he bases
his complaint.
Christie’s shall cancel the sale and return to the
Buyer all amounts paid, except in the
following cases:
a) if the description of the object in the catalogue
of the sale appears to agree with the opinion
generally accepted at the time by specialists and
experts in such objects, or if the catalogue explicitly
stated that there may be a difference of opinion as to
such description.
b) if the non-authenticity of the object may
only be established by a scientific procedure, the
effectiveness of which was generally acknowledged
only after publication of the sale catalogue or if such
process was at the time of the sale unreasonably
expensive or of a nature to cause damage to the
object itself.
In all cases, only the person to whom the object was
personally knocked down will be entitled to claim
such cancellation of sale and only on condition that
he is in a position to return full ownership thereof
to Christie’s and that the object has not suffered any
alteration since the sale.

9.
In order to comply with local laws and regulations
and to prevent as far as possible any error in
the attribution of any objects sold, the persons
intending to bid are requested to identify
themselves at the registration office on the sale
premises. Upon presentation of adequate financial
credentials, intending Buyers shall complete a
registration card mentioning their name and
address and shall receive a number which will
enable them to take part in the bidding.
When making a bid, a bidder is accepting personal
liability to pay the purchase price, including the
buyer’s premium and all applicable taxes, plus
all other applicable charges, unless it has been
explicitly agreed in writing with Christie’s before
the commencement of the sale that the bidder is
acting as agent on behalf of an identified third party
acceptable to Christie’s, and that Christie’s will only
look to the principal for payment.
The attention of the potential Buyer is drawn to
the fact that Christie’s needs to verify the identity
of the Buyer as set out in “Buying at Christie’s,
Bidder Registration.”

10.
Christie’s will accept to execute commission bids on
behalf of clients, in particular for intending Buyers
who are unable to attend. No responsibility shall,
however, rest upon Christie’s or its employees in
case of defect in the transmission of bids at the sale.
In the event that two identical commissions should
be the highest bids at the sale, the object shall be
knocked down to the Buyer whose commission bid
has been received first.
Christie’s reserves the right, at its discretion, to
refuse commission bids from a Buyer in case the
information or documents provided as evidence of
his identity or the identity of the beneficial owner
proves to be wrong, incomplete, ambiguous or
unsatisfactory.

11.
In order to avoid any error in the attribution of
objects and the settlement of invoices as well as to
proceed with the necessary verifications regarding
the Buyer’s and the beneficial owner’s identity, no
lot may be removed during the sale.
Christie’s shall be entitled to retain items sold until
all amounts due to us, or to Christie’s International
plc, or to any of its affiliates, subsidiaries or parent
companies worldwide, have been received in
full in good cleared funds or until the buyer has
performed any other outstanding obligations as
we, in our sole discretion, shall require, including,
for the avoidance of doubt, completing any antimoney
laundering or anti-terrorism financing
checks we may require to our satisfaction. In the
event a buyer fails to complete any anti-money
laundering or anti-terrorism financing checks
to our satisfaction, Christie’s shall be entitled to
cancel the sale and to take any other actions that are
required or permitted under applicable law.

12.
The purchase price of the objects as defined in article
3 hereof shall be paid in Swiss francs within seven
days of the sale. After such date, interest at the rate
of 1% per month shall be charged on the unpaid
balance due.
Payment may also be made in foreign currencies
having legal tender if their amount may by
converted into the equivalent of the purchase price
in Swiss francs of the value date of the payment.

13.
Failing payment by the Buyer within seven days
from the sale, Christie’s shall use its best efforts
to comply with the instructions of the Seller as
to the action to be taken and to assist the Seller as
far as possible, in particular in order to collect the
purchase price or to cancel the sale. Any damages
are in all cases expressly reserved.
Notwithstanding the foregoing, Christie’s reserves
itself the right at its discretion and at the Seller’s
expense to accept special conditions of payment of
the purchase price, to arrange for warehousing or
insurance of the object sold, to settle (or to pursue)
any judicial proceedings brought by or against the
Buyer on such conditions as Christie’s shall deem
appropriate, to take any action necessary for the
collection of the amounts due by the Buyer and, if
appropriate, to set aside the sale and return the object
to the Seller.
In such case, Christie’s may tender the object at the
Geneva Free Port at the exclusive expense and risk
of the Buyer.

14.
Any partial payment by the Buyer to Christie’s shall
be deemed a payment by way of deposit.
In case of failure by the Buyer to pay the full
purchase price as herein above provided, such
deposit shall be automatically forfeited and the
object shall be resold at public auction or by private
auction or by private sale at the entire discretion of
Christie’s.

15.
Should the information or documents provided
by the Buyer regarding the Buyer’s identity and
the beneficial owner’s identity prove to be wrong,
incomplete, ambiguous or unsatisfactory to the
sole appreciation of Christie’s, the sale will become
null and void. The Buyer shall be liable for all
incurred expenses.

16.
In the case that a Buyer, after having fulfilled all his
obligations pursuant to the present conditions of sale,
fails to remove the object in time, as provided under
article 13 above, Christie’s shall be entitled, after
notification to the Buyer, to render the object at the
Geneva Free Port at the Buyer’s expenses and risk.

17.
Any visitor shall be liable for damages he may cause
to the objects and items exhibited.

18.
These conditions of sale shall be available for
inspection by all persons interested as soon as
the sale has been published. They shall be posted
conspicuously in the sale premises during the sale.

19.
These conditions of sale shall be subject to Swiss law.
Any dispute regarding their execution, non-execution
or their interpretation shall be within the exclusive
jurisdiction of the Courts of the Canton of Geneva,
subject to appeal to the Federal Tribunal.