2022 Qingtai International Spring Auction

Taiwan Qingtai International Art Co., Ltd Terms & Conditions General Article 1 The company is on behalf of both the owner of the auction object (ie. the seller) to auction the auction object and the bidder who bids the auction object. The company provides services, but the company is not responsible for the breach of contract between the buyer or the seller.   Article 2 Buyers and sellers should carefully read the terms stipulated in these rules to protect their rights and interests.   Article 3 Anyone who has any objection to the ownership of any auction object must submit a written certificate from the judicial unit before the auction object is auctioned. The company will contact and explain, otherwise it will not be accepted.   Article 4 If there is any dispute between the parties involved during the auction and after the auction, it shall be handled in accordance with the relevant laws and regulations of the Republic of China.   Article 5   The glossary and the definition The definition of the glossaries in the company?s auction rules listed below: (1)The company refers to Qingtai International Art Co., Ltd   (2)  "Bidder" refers to a natural person, legal person or the other organization who has full capacity for civil conduct in accordance with the promulgation of laws and regulations, has registered in the online auction activities organized by the company and has gone through the necessary procedures to participate in the bidding of auction objects. A bidder shall have the conditions or qualifications prescribed by laws and regulations for the buying and selling conditions of auction items or for the qualifications of bidders. In these rules, unless otherwise stated or required by the context, bidders include bidders' agents.   (3) "Buyer" refers to the bidder who purchased the auction object at the highest bid price in the auction held by the company.   (4)"Consignor" refers to the natural person, legal person or other organization that entrusts the company to auction the auction objects within the scope of these rules. In these rules, unless otherwise stated or as the context requires, the principal includes the principal's agent.   (5)"Auction objects" refers to the objects handed over by the consignor to the company for auction, especially the objects described by any number in any catalogue;   (6)"Auction day" refers to the official auction trading day announced by the company in a certain auction activity. If the announced start date is inconsistent with the actual start date of the auction, the actual start date of the auction shall prevail;   (7) "Auction Closing Date" refers to the date on which the auctioneer confirms that any auction item has reached a transaction by dropping the hammer or by other means of publicly indicating the purchase in the auction activities organized by the Company.   (8)"Hammer price" refers to the price at which the auctioneer decides to sell the auction item to the buyer by dropping the hammer.   (9)"Proceeds from sale" refers to the net amount paid to the consignor, which is the balance after the hammer price minus commissions, various expenses and other amounts payable to the company by the consignor.   (10)"Purchase price" refers to the hammer price and all remuneration payable by the buyer for the purchase of the auction item. The sum of all other expenses that should be paid by the buyer and all expenses that should be paid due to the buyer's failure to perform its obligations.   (11) "Various fees" refer to the fees charged by the company for insuring the auction objects, making the auction object catalogues and other forms of publicity materials, packaging, transportation, storage, etc. Various fees will be charged as required;   (12) "Reservation price" refers to the lowest selling price of the auction item proposed by the consignor and determined in writing after consultation with the company.   (13) "Reference value" refers to the estimated sale of the auction item indicated after the auction item catalog or other introduction and description text, not the actual sale.   ABOUT THE BUYER THE BUYER Article 6 The buyer who participates in the auction shall register with the company in person and sign the necessary documents before the auction is held. The buyer shall provide the relevant information of authenticity, and authorize the company to obtain the buyer's financial credit information from the bank.   Article 7 Those who entrust our company to bid shall sign an entrusted bidding form with our company 24 days before the start of the auction, and pay the security deposit. After the auction, bidders shall make the transaction of the remaining payment and other service fee in one time during the 10 days.   Article 8 During the bidding process, the bidder who raises the placard shall not withdraw the bid. The company determines that the highest bidder is the buyer, and the auction target will be auctioned.   Article 9 The company has the full discretion to refuse anyone to enter the auction venue or participate in the auction, and also refuse to accept any bidding. Lots and Catalogue Illustrations Article 10 The Buyer should examine carefully the auction lot they intend to buy in person, prior to the date of the auction, and should be solely legally responsible for their bids made to buy certain piece of lot. The company does not guarantee the authenticity on the description of the lot or any accompanying documents.   Article 11 Condition reports could be supposed to evaluate the condition of a lot. Condition reports are provided for guidance only. They may not include all faults, inherent defects.   Article 12 The Company has the right to hold exhibitions, auctions and make announcements, catalogues and other forms of publications to introduce the auctions lots.   Article 13 Any representation or statement given by the Company in the catalogue or in other forms as to the authorship, origin, age, size, medium, mount, attribution, authenticity, provenance, condition and estimated price is just for the information and reference of the buyer only. The Company shall not be held responsible for errors.   Article 14 Any reference to condition in a catalogue entry or in a condition report will not amount to a full description of condition, and images may not show a lot clearly. Colors and shades may look different in print or on screen to how they look on physical inspection. The Company shall not be held responsible for these differences.   Article 15 The Company owns the intellectual property rights (including but not limited to copyright or patent) of all images, illustrations and written material produced by or for The Company relating to a lot. They can not be used without obtaining prior written permission from the Company. Margin Article 16 Any buyer who wants to participate in the written bidding, telephone bidding or online bidding must complete the registration formalities with the company at least 1 working days before the auction day, and pay TWD 50,000 (USD 1,700, HKD 15000, RMB 10000) as a deposit can only participate in the bidding (if the cheque is paid, please complete the process before 3 working days). Relevant documents should be kept properly.   Article 17 If the buyer who participates in the bidding purchases the auction object according to the regulations of the company, the deposit paid by the buyer shall be used as the purchase price. Within 7 working days after the end, the full amount will be refunded without interest; if the buyer defaults or fails to deliver within the time limit, the deposit will be regarded as liquidated damages, and the company has the right not to refund it. Commission Article 18 After the buyer successfully bids the auction item, the purchase price is the final hammer price plus service fee. If the hammer price is less than NT$10,000, the service fee will be calculated at 18% of the hammer price; if the hammer price exceeds NT$10,000 (inclusive), the service fee will be calculated at 16% of the hammer price; if the hammer price exceeds the new price For the portion of NT$20,000 (inclusive), the service fee is calculated at 14%. Payment and Collection of Auction Objects Article 19 Once the buyer successfully bids for the auction object, the buyer must pay the full purchase price within 10 days (including the hammer price and the commission paid for the auction) before arranging for delivery.   Article 20 The buyer can pay the purchase price by cash, remittance, cheque or credit card. If payment is made by cheque, the auction object can only be collected after the cheque is cashed. The company only accepts the payment of security deposit and purchase price in Taiwan and Hong Kong. If the buyer pays in Hong Kong dollars or US dollars, the price should be calculated at the exchange rate (Taiwan Bank) announced by the company on the spot on the auction day, and issued by the company at this exchange rate The certificate shall prevail.   Article 21 If the buyer wants to pay the purchase price in a currency other than NTD, the company may also charge the buyer any foreign exchange fees incurred, including but not limited to bank charges and currency exchange regulations. Fees and Exchange Differences.   Article 22 All amounts payable by the buyer to the Company are exclusive of any goods or service tax (whether imposed by the Taiwan government or elsewhere). If any such tax applies, the buyer shall be responsible for paying such tax at the rate and time prescribed by the relevant law. The handling of auction targets that have not been paid for or not received for a long time Article 23 If the buyer fails to pay the purchase price within the time limit as stipulated by the company after the successful bidding of the auction bid, it shall be deemed that in case of breach of contract, the security deposit will not be refunded, and the buyer shall bear the relevant responsibilities. This is not the case if the company negotiates and agrees between the buyer and the seller.   Article 24 If the buyer fails to pay within 10 days from the auction closing date (including the closing date), the deposit will not be refunded.   Article 25 With the consent of the seller, the company can re-auction or sell the auction item in other ways. If the resale price is lower than the original auction price, it can also claim the difference from the original buyer.   Article 26 In any future auction, the company may refuse the buyer to bid again or bid on its behalf, or the company has the right to charge the buyer a high security deposit before accepting any bid.   Article 27 The company is the agent of the seller in the public auction, and the seller's regulations have been detailed in the seller's entrustment contract. Other Article 28 The company has the right to settle and handle any disputes in the auction.   Article 29 The company is obliged to keep secrets for both parties to the transaction, so as to protect the interests of both buyers and sellers and the company from damage.     These business rules are divided into Chinese and English versions. If there is any dispute, the Chinese version shall prevail.   The company held this cultural and art auction, which has been approved by the Ministry of Culture and complies with the regulations on business tax reduction and exemption for cultural and artistic undertakings. The sales income and commission income generated by the auction can be exempted from 5% business tax.