Estimate price
USD 6,000 - 7,900
USD 6,000 - 7,900
Bidding is closed. Lot sold：USD 5,900
In April, Ravenel Online Auction is pleased to present "Contemporary．Be+Ving", continuing its focus on the contemporary art landscape which featuring works by KUO Chih-Hung, Sean WANG, CHENG NungHsuan, LAN Chung-Hsuan, HUANG Jen-Chieh, HUANG Ting Ray, JI Shao-Yuan, and TIAN Shuxing, showcases a spectrum of arti expressions, where various media intersect and yet maintain individual narratives. "Contemporary" not only signifies the current but also serves as a vessel for diverse artistic contemplations.
As time relentlessly progresses, what forms, perspectives, or concepts do we, who only possess the "present," choose as a view of the world and resonate with it? What kind of scenery evokes emotions and become ripples accompanying each other towards the unseen horizon of the future?
Cheng Nunghsuan was born in Taipei in 1983 and graduated from the Department of Fine Arts at the National Taipei University of the Arts. His works have been recognized with awards such as the Taiwan New Art Award, the Kaohsiung Award,, and are collected by the National Taiwan Museum of Fine Arts. Recent exhibitions include 2019 Osaka Art Expo, Instinc Art Space, Singapore, Eslite Gallery and AKI Gallery. In his early works, Cheng conveyed his personal emotional interpretations of everyday social relationships through portrait paintings that were erased or altered. In recent, he juxtaposes, simulates, and reshapes narrative techniques and styles from various periods in art history, using classical painting to create a fantastical sense reminiscent of watching a stage play, seeking tangible and intangible distances between the viewer and the artwork. While Cheng's artistic concepts originate from life experiences and extracted content, they undergo multiple transformations, gradually disconnecting from the roots. "The content of the story is not the focus; I am concerned with the state of storytelling."The work "Hide and Seek no.2" presents hands parting through foliage in a small-scaled painting yet it unleashes a burst of instantaneous power within the frame, sublimating it into the purest essence of spiritual attitude.
Born in Taipei, Taiwan in 1982, Kuo Chih-Hung graduated from the National Taipei University of the Arts and the Munich Academy of Fine Arts. Kuo has exhibited works in major international institutions, including Het Noordbrabants Museum, Netherlands (2018), Art 16 London, UK (2016), and Mancy's Tokyo Art Nights, Tokyo (2012), and in the Sigg Collection, Switzerland (2016), HSBC Collection, Taiwan (2015), private collections of Deutsche Bank in Germany, as well as the global collection of Yuanta Bank. Kuo spent eight years studying in Germany, where his overseas experiences led his artistic focus from figures to mountain landscapes. Blending Eastern and Western influences, his oil paintings transform mountains into poetic verses, each conveying a sense of eternity and continuity. Using techniques portraying abstract yet realistic ridges, valleys, drifting clouds, snow, ponds, reflections, and leaves. Through spiritually translated landscapes, he seeks to transcend the presence and visuality of landscape sketching, exploring the essence of painting.
Born in Taipei in 1981, photographer Sean Wang, who has congenital macular degeneration, faces near blindness in his left eye and gradual degeneration in his right. Despite the looming possibility of complete vision loss, he chose photography as his creative path, delving into the relationship between conceptual art and photography. Wang holds a master's degree in history from National Taiwan University. He pursued a master's program in photography at the School of the Museum of Fine Arts at the Boston Museum of Fine Arts. Wang currently works as a photographer, photography critic. Awards including Kaohsiung Award Merit Award (2021), TIVAC Photography Award Special Jury Prize (2017), the Da Dun Fine Art Award Merit Award (2015), Grand View Emerging Artists Award in Art Criticism (2020), etc.. His work ‘To Thomas' in the collection of Residency Unlimited in New York. Wang’s "Bad New Days" series, inspired by his traumatic childhood experiences of frequent eye examinations.This series employs A.I. to process his own retinal photography into visually pleasing images. The title of the series, "Bad New Days," is borrowed from the book of the same name by American art critic Hal Foster, describing how art confronts ominous and anxiety-inducing futures—a reminder for Wang of his condition during vision checks.
Born in 1982, Huang Jen-Chieh grew up immersed in artistry as his father was a skilled metalworker. Inspired by his love for nature, Huang seamlessly integrates life and art. In his works, we often find metallic and found objects, which he discovers in flea markets and antique shops that resonate with him. Additionally, his pieces incorporate raw minerals. Huang believes that inherent beauty of raw minerals, akin to that of polished diamonds, as their primitive simplicity reveals the unique beauty of nature. Huang's works have been exhibited in Taichung, Taipei, Kaohsiung, Edinburgh in the UK, Tokyo in Japan, and the National Taiwan Museum of Fine Arts. In 2018, he established the ‘Danzhou Jewelry’. Huang's "Mine" and "Pit" series, where intricate metalwork and crystals intertwine, creating spaces that seem to extend infinitely. Pearl ants diligently labor, dotting the corners of the artwork, traversing through the deep and intricate mines. The profound depths of the quarry reflect a subtle, twinkling light reminiscent of stardust, exuding a restrained brilliance
Taiwanese emerging artist Huang Ting Rayi, has undertaken numerous large-scale mural projects in urban architecture and participated in various joint exhibitions. His works have also been featured in collaborations with multiple brands, showcasing his presence in various exhibitions and fairs, including the SUBMARINE GALLERY (2023), ART FORMOSA (2023), TBA x Lexpo at Galerie Mona Lisa in Paris, France (2023), and ArtfN x TBA Taipei Emerging Art Fair (2022). Huang's works consistently explore the emotions between individuals. He adeptly employs eye contact to convey and dissect the unspoken words hidden within one's heart.
If there is a bid higher than the original highest bid within 10 minutes before the auction ends, the closing time will be extended for 5 more minutes(no matter how many people place bids). if there is any other bid within the extended time, the closing time will be re-counted from 5 minutes.
Matters needing attention
1. The bid does NOT include the Buyer's premium. Ravenel will ask 18% of the hammer price for the Buyer's premium. In order to complete the delivery, the winner will need to pay for the full amount of the price realized (hammer price PLUS buyer’s premium)
2. All the lots are priced in U.S. dollars. However, please note that each lot accepts several currencies. Fiat Money only accepts U.S. dollars (USD), New Taiwanese dollars (NTD), and Hong Kong dollars (HKD).
3. Placing a bid means that you have read and agreed Ravenel’s bidding rules.
Buyer's Premium
$0 - 1,020,000: 18.0%
$1,020,001+: 12.0%
Bidding Increments
Matters needing attention
1. The bid does NOT include the Buyer's premium. Ravenel will ask 18% of the hammer price for the Buyer's premium. In order to complete the delivery, the winner will need to pay for the full amount of the price realized (hammer price PLUS buyer’s premium)
2. All the lots are priced in U.S. dollars. However, please note that each lot accepts several currencies. Fiat Money only accepts U.S. dollars (USD), New Taiwanese dollars (NTD), and Hong Kong dollars (HKD).
3. Placing a bid means that you have read and agreed Ravenel’s bidding rules.
Buyer's Premium
$0 - 1,020,000: 18.0%
$1,020,001+: 12.0%
Bidding Increments
| From: | To: | Increment |
| $0 | $999 | $50 |
| $1000 | $1999 | $100 |
| $2000 | $4999 | $200 |
| $5000 | $7999 | $300 |
| $8000 | $19999 | $500 |
| $20000+ | $1000 |
Transaction Online Agreement for Art (Hong Kong)
This Transaction Online Agreement for Art (Hong Kong) (the “Agreement”) is entered into by and between Ravenel Auction Hong Kong Limited., as the auctioneer (hereinafter referred to as "the Company") and the Seller (hereinafter referred to as the "Seller") for the online sale of art on the Company’s website (the “Website”). This Agreement is also entered into by and between the Company as the agent of the Seller and the Buyer (hereinafter referred to as the "Buyer"). The Bidder, the Buyer and the Seller must carefully review and completely agree all provisions hereunder and any revisions from time to time.
Article 1.Definition
Some of the phrases commonly seen herein are defined as follows:
1."The Buyer" shall mean highest bidder accepted by the Company via Online Auction.
2. "The Bidder" shall mean any potential bidder willing to attend the auction sale hosted by the Company.
3. "The Seller" shall mean the mandator who provides the Lot and agrees to appoint the Company as its exclusive agent to sell the Lot at the Online Auction and participate, and cooperate, in exhibitions prior to the Auction if so required by the Company.
4. "The Lot" shall mean the item delivered to the Company to be sold in an online auction, especially the single or multiple pieces of items, including without limitation tangible products and NFT.
5." Bid price" shall mean the highest bid with respect to one particular auction item accepted by the auctioning party via online.
6. The "Buyer's Premium" shall mean the fee based on a certain percentage of the Online Bid price paid by the Buyer; the percentage shall be as prescribed in Article 2, Section 4a.
7."The Reserve Price" shall mean the lowest price agreed by the Company and Seller. The Lot cannot be sold at a price lower than such price.
8."Counterfeit" shall mean a Lot imitating an original work with the intent to defraud, and untrue statements are made in connection thereto with respect to the Lot’s author, history, year, age, culture or origin of the Lot, for which the accurate description is not reflected on the website and the value of the Lot on the Online Auction is far less than the value it should have according to the description on the website. No Lot will be considered a Counterfeit solely due to any damage and/or repairs (including repaints).
9."Insured amount" shall mean the value of the insurance purchased for the Lot which the Company considers necessary under its absolute discretion (regardless whether such insurance is purchased by the Company).
10. The "Seller Service Fee" shall mean the fee paid to the Company by the Seller.
Article 2. The Buyer
1. The Company as the Agent
The Company shall act as the agent of the Seller and have full authority to handle online auction of art. Unless otherwise agreed to by the parties, upon successful bid on the Website, the Seller and Buyer shall immediately enter into a sale and purchase agreement.
2. Prior to the Auction
a. Authentication
We strongly recommend that the Bidders conduct their own authentication according to the condition report and descriptions provided on the Website for the items they are interested in bidding prior to the Online Auction. Due to the nature of Online Auction, the Company cannot guarantee that it will display the Lot. The Company also will not be liable for the authenticity of any description or relevant documentation relating to the Lot.
b. Important Notice
Attention Bidders: As far as possible, the descriptions of the Lots will mention obvious defects of the items; however, they do not necessarily include all flaws, defects, or incomplete aspects. The Company does not guarantee that the Lots have not gone through readjustment or repair or make any representation about the current state or storage conditions of the Lots. Any omission on the website description regarding the current condition or the appraisal of defects in the items by no means represent that those items are in good condition or function normally. The Bidder completely understands and acknowledges that all of the items on online auction are being sold in "as is" condition. The Company does not provide any representation or guarantee as to the conditions of any of the items.
c. Symbol Key
The following key explains the symbols you may see on the website.
ｏGuaranteed Property
The Seller of the Lots with this symbol next to the Lot number has been guaranteed a minimum price from one online auction or a series of online auctions (“Guaranteed Lots”). This guarantee may be provided by the Company, by a third party or jointly by the Company and a third party. A guarantee may be in the form of an irrevocable bid provided by a third party. Third parties providing or participating in a guarantee may benefit financially if a guaranteed Lot is sold successfully and may incur a loss if the sale is not successful. If third parties providing or participating in a guarantee is the successful bidder for the guaranteed Lot, they should be required to pay the full Buyer's Premium.
d. Website Explanations
d. Website Explanations
Any statement relating to the author, history, date, year, size, material, ownership, authenticity, origin, condition of preservation or estimated selling price of any of the Lots and certificates thereof shown on the Website or the authentication opinion made by the Company, or any other verbal or written statements made separately, shall solely be statements of opinions and shall not be deemed the basis for the statements of actual fact. The photographs shown on the website shall serve as reference only and shall not be deemed as the basis for determining the color or tone of any Lots or disclosure of the defects of such items. The estimates of the online auction price shall not be deemed the price at which such item will be successfully sold or the confirmation of the value of the item for other purposes.
Lots may fail to maintain their perfect condition because of time and other environmental factors. Some of the explanations on the website or the authentication opinions will state defects and/or the repair background of the Lots. Such information is meant for reference only. Missing information in the statements does not mean the Lot has no defects or has not been repaired. Any statement of one particular defect of the Lot does not mean there is no any other defect.
e. Responsibility of the Buyer
The Buyer is responsible for clarifying and satisfying himself about the condition of the Lots and any related matters stated on the website descriptions and making his/her own judgment or estimation independently on whether to purchase the Lots. The Company is not responsible for whether the Buyer is satisfied with the results of the Online Auction.
3. During the Online Auction
a. Online Bids
The bids will be conducted on the Website using Invaluable. Bidders can bid for the Lot via the Website, and assume the responsibility of Buyers pursuant to this Agreement. Bidders will not be charged for this service and the identity of the Bidders will be kept confidential during the entire process. For information about registering to bid via Invaluable, please refer to Ravenel.com. Bidders using Invaluable are subject to Invaluable’s additional terms and conditions for online bidding, which can be viewed on its website, in addition to this Agreement, which may be modified by the Company at any time.
b. Estimates
The Company will provide a valuation of the Lot; such a valuation is for reference only and does not represent the suggested Bid Price of the Lot.
c. Refusal of Online Auction Bid
The company will receive the Bidder’s bidding information before the end of the Online Auction; the Company has the right to conduct credit check of all Bidders and request the to provide proof of identity and other data. The Company has full discretion to exercise the right to refuse any person to participate in the Online Auction.
d. The Bidding Deposit
If the Company has doubt about the Bidder's credit, the Company may require the Bidder to pay a bidding deposit. If the Bidder does not pay the bidding deposit, the Company has the right to refuse the bid.
(1)If the Bidder is not able to purchase any Lot and has no outstanding debts to the Company, the Company will return the bidding deposit to the Bidder without any interest.
(2)If the Bidder becomes the Buyer, the Company has the right to transfer the bidding deposit into the payment (including but without limitation, Bid price, Buyer's Premium, costs and expenses for shipping and related costs) of the Lot for which transaction is concluded. The Company will return the balance of the deposit to the Buyer (if any). If the Buyer ,without any good cause, fails to pay any and all payment (including but without limitation, Bid price, Buyer's Premium, costs and expenses for shipping and related costs) of the Lot to the Company within 7 calendar days after the successful online bid date ,the Buyer may not claim for the return of the bidding deposit.
e. The Bidder’s legal responsibilities
Unless a written agreement has been made upon registration that the Bidder will be an agent acting on behalf of a third person and such third person is accepted by the Company, the Bidder will be deemed as the Buyer who will bear individual legal responsibilities (including without limitation entering to a sale and purchase agreement with the Seller with respect to the Lots).
f. The decision to bid
The Company has the absolute power to reject any bid, push for bids at his discretion, withdraw any Online Auction Lots, separate or combine two or more Online Auction Lots, and if there is any error or dispute, re-auction the Lots. The Company will provide notice or announcement of such matters on the Website before the start of the Online Auction. It is the responsibility of the Bidder to pay attention for any such announcement.
g. Successful Bids
Under the sole discretion of the Company, the Bidder will only become the Buyer if winning the bid at the Bid price, and shall be deemed to agree to enter into a sale agreement with the Seller on the basis of such price.
4. Following the Online Auction
a. The Buyer's Premium for each Lot
(1) The Buyer should pay the bid price and, in addition, the Buyer's Premium to the Company. For bid price below US$ 1,000,000 (inclusive), the Buyer's Premium should be calculated at 18% of the bid price.
(2) For bid price higher than US$ 1,000,000, total amount of the Buyer's Premium should be that the first US$ 1,000,000 of the bid price should be calculated at 18% and the rest of the amount of the bid price should be calculated at 12%.
b. Taxes
The Buyer shall make all the payments payable by the Buyer to the Company (including without limited the Bid price, Buyer’s Premium, cost and expenses for shipping); in the event any commodity or service taxes or any other value added taxes (whether imposed by any government or elsewhere)are payable, the Buyer should be responsible for paying any applicable taxes as required by the law.
c. Payment
The Buyer should provide his/her/its true name and permanent address, including documentary proof thereof (such as personal ID or photocopy of passport) to the Company upon the successful bid. Relevant bank information, including but without limitations the payment account, should also be provided upon the company request. All payments due (including without limitation the bid price, Buyer's Premium and any freight or the expense) should be paid within 7 calendar days following the online auction date. The same applies if the Buyer intends to export the Lot and (may) need the export permit.
If the Buyer fails to pay to the Company all the payments payable to the Company, the Buyer will not acquire the ownership of the Lot even if the Company has delivered such item to the Buyer.
Payment method
(1) Online Auctions are held and settled in US dollars; increases in bids are also in US dollars.
(2) Online Auctions may accept both fiat currency (limited to USD and HKD) and cryptocurrency (limited to Tether USDT) as payment. If the Seller does not accept payment in the form of cryptocurrency, the Lot shall be labelled with the following: “Cryptocurrency not accepted”. If the Buyer pays in fiat currency other than USD, the relevant exchange rate shall be the Bank of Taiwan’s rate on the date of winning the bid. If the Buyer pays in cryptocurrency, the relevant exchange rate as listed on [*] exchange shall be the rate at the moment the bid is won.
d. Collection of the Lot Sold
Unless otherwise agreed by the Company, the Company will temporarily hold the successfully sold Lots until all payments to the Company are made in full. The Lot will be covered by the insurance of the Company for 7 days starting from the successful online bid date. The insurance coverage will terminate upon earlier collection of such Lot by the Buyer or its designee. The Buyer will be responsible for all risks following expiration of the said 7-day period or the collection (whichever is earlier).
If the Lot is NFT, the Company shall provide to the Seller the cryptocurrency wallet address of the Buyer of the Lot after confirmation that the Buyer has made all the required payments to the Company. Within 24 hours of the Seller’s confirmation of receipt of the Company’s notice, the Seller shall transfer the Lot to the Buyer’s cryptocurrency wallet address. The Company shall supervise the payment and transfer of NFT to ensure the Buyer has collected the NFT and then transfer the Bid Price less the fees payable to the Company (including without limitation the premiums) to the Seller.
e. Referral of Packaging or Transportation Companies (not applicable to NFT Lots)
The shipping department of the Company may introduce the forwarder, assist in the arrangement of delivery, or purchase particular insurance upon the Buyer's request. The Company will not be held liable for any legal responsibilities in this regard. And the Buyer shall prepay the freight charges. Costs and expenses for shipping and insurance shall be paid in advance.
f. Non-Payment by Buyer
The Company is entitled to exercise one or more of the following rights or remedies if the Buyer fails to make payment within 7 calendar days following the successful online bid date:
(1)An interest at the annual rate of no higher than 10% plus the base lending rate of Hong Kong and Shanghai Banking Corporation (HSBC) will be imposed on all of the payment due if payment is not made within 7 calendar days following the successful online bid date. Besides, we have the right of charging also 1% selling price (including of bid price and Buyer's Premium) multiplied by the number of delayed days as punitive damage for the default. The payment to be made by the Buyer may offset any payment payable by the Company or its subsidiaries to the Buyer for any other transactions upon the Company's sole decision.
(2)To exercise lien of any items owned by the Buyer and held by the Company for any reason including but without limitations other transactions. The Company may arrange to sell such items after serving a 14-day notice to the Buyer about his/hers/its non-payment. The proceeds shall make up for the payment due.
(3)If the Buyer owes the Company several payments as a result of different transactions, the payments will setoff any payments due in any particular transaction, regardless of whether the Buyer specifies to setoff such payments.
(4)Refuse the Buyer to make, or to make on behalf of others, bids in any future auctions and/or to require a bidding deposit from the Buyer before accepting any future bids from him/her/it. If the Buyer fails to make payment within 35 days of the winning bid, the Company is entitled to exercise one or more of the following rights in addition to the aforementioned:
(a)To bring legal proceedings against the Buyer on behalf of the Seller to claim the entire payment due and the legal fees and attorney fees resulting from such proceeding.
(b)Cancel the transaction of Lots bid by the Buyer or any other auction items sold to the Buyer at the same or any other auctions.
(c)To arrange a public or private re-sale of the Lot. If the re-selling price is lower, the difference will be claimed against the Buyer together with any cost incurred as a result of the non-payment by the Buyer.
g. No Collection of the Lot Sold (not applicable to NFT Lots)
The Company will arrange for the storage of the Lot if such item sold is not collected within 7 days following the successful online bid, regardless of payment. Such storage cost will be borne by the Buyer. Only when the storage, handling, shipping, insurance cost and any other expenses together with any other payments due to the Company are paid in full can the sold Lot be collected.
h. Export Permit (not applicable to NFT Lots)
Except where otherwise agreed in writing by the Company, the fact that the Buyer applies for an export permit shall not affect the Buyer's responsibility to make the payments within 7 days following the successful online bid date; nor does it affect the Company's right to impose interest on delayed payments or charge storage fees.
If the Buyer requests that the Company applies for the export permit on his/her/its behalf, the Company is entitled to collect monies made in connection with such an application and any miscellaneous expenses together with any relevant value added taxes.
If the Buyer makes the payment regardless of the fact that an export permit is needed, the Company is not responsible for returning to the Buyer any interest or other expenses incurred therefrom.
5. The Legal Responsibility of the Company
The Company is responsible for returning payment to the Buyer pursuant to Article 2, Section 6. Otherwise, whether the Buyer, the Company, any employees or agents of the Company will not be held liable for any statements of the author, history, date, year, ownership, authenticity or origin of any online auction item or any errors with respect to any explanations and any flaws or defects of any online auction item. The Seller, the Company, the employees or the agents of the Company make no guarantee impliedly or explicitly with respect to any online auction items. Any warranty of any kind whatsoever shall not be included herein.
6. Return of Payments for Counterfeits or stolen goods
The transaction will be cancelled and payments made before remit to the Seller will be returned to the Buyer if the Lot of the Company is confirmed to be a counterfeit or stolen goods, or involved in obvious illegality by the professional appraisal party agreed and recognized by the Company in writing. However, if:
a. During the online auction, the website explanations generally accepted by the academic or professional fields or explicitly indicates it conflicts with the opinions generally accepted by the academic or professional fields.
b. Or the method used to prove that the Lot is a counterfeit or stolen goods is a scientific procedure not generally accepted for use or a procedure unreasonably expensive on the day of the online auction, or impractical, or may cause damage to the Lot; the Company is not liable for the return of any payment under any circumstances. The Buyer's payment can only be refunded when the following terms are met:
(1)The Buyer must notify the Company in writing within 10 days following the successful online bid date that he/she considers the relevant auction item is a counterfeit or stolen goods.
(2)Except for (1) above, the Buyer must return the Lot to the Company within the following 14 days and the condition of the item must be the same as successful online bid date without any damage. (In case of NFT return, the method shall be to transfer the NFT to the Company’s designated wallet address, and be duly confirmed by the Company.)
Return of the Lot Within 14 Days of Written Notice
(3)Upon returning the Lot, the Buyer must present evidence as soon as possible to convince the Company that the Lot is a counterfeit or stolen goods（The Company has the final and sole discretion and decision and such decision shall not be objected in this regard）. The Buyer shall also assign the good ownership of the Lot to the Company, and must guarantee that no third parties will be able to claim any right over such Lot. Under no circumstances is it necessary for the Company to pay the Buyer an amount more than what the Buyer pays in connection with the Lot and the Buyer cannot claim interests.
The right to return of payments for Counterfeits or stolen goods as set forth in Article 2, Section 6 cannot be assigned for the reason of being transferred to a third party and belong solely to the Buyer who receives the original invoice on which such Buyer's name is recorded from the Company when the Lot is sold. Such Buyers shall remain the owner of the auction Lot and cannot assign any interest of the Lot to any other person; if the Buyer assigns interest in the Lot away, the Buyer will forfeit the rights of this Article. The Company is entitled to ascertain that the Lot is not a counterfeit or stolen goods based on a scientific procedure or any other procedure, regardless of whether such procedure is being used on the day of the online auction. If the result of appraising and verifying whether the Lot is a counterfeit or stolen goods by the Company conflicts with the evidence provided by the Buyer, the Company's said result shall prevail over the evidence provided by the Buyer.
Article 3.The Seller
1. The Company as the Agent
The Company acts as the exclusive agent of the Seller. The Closing Agreement of the Lot is the agreement by and between the Buyer and the Seller, through the agency of the Company on behalf of the Seller. The Seller shall be responsible to the Buyer for performing the obligations and responsibility of a seller.
2. Expenses
2. Expenses
The Seller shall bear costs relating to the following regardless of whether the Lot is sold:
a. Packing of the Lot and shipping to the Company is designated for the auction.
b. Any applicable shipping insurance.
c. The packaging and shipping if the item is delivered back to the Seller. If the Lot were imported from overseas, shipping costs and import taxes shall paid by the Seller.
d. Insured under the Company's insurance policy , the insurance premium rate is set out in Article 3, Section 3b.
e. Any applicable custom duties.
f. Website illustration fee.
g. Any repairs made to the Lot as per prior agreement with the Seller.
h. Framing and mounting.
i. Authentication made by independent professionals appointed by the Company, which the Company believes to be necessary in preparing the website explanations.
j. Any independent professional opinions appointed by the Company, which the Company deems proper.
k. The storage, loading and unloading and custody of the Lot after the online auction.
l. Any marketing and promotional expenses
m. Expenses related to the transfer of cryptocurrency and NFT
3. Insurance Coverage to be Arrange by the Company (not applicable to NFT lots)
a. Unless otherwise agreed by the Company, the Lot will be automatically insured under the Company insurance policy in the amount as deemed appropriate and estimated by the Company. However, the insured amount is not the amount the Company undertakes to be successfully reached during the online auction.
b. The Company will collect 1% of the Reserve Price as the insurance fee If the shipping is arranged by the Company, an additional amount will be collected by the Company from the Seller as the shipping insurance. Such amount varies depending on the individual condition of each online auction item. The Company will refer a freight forwarder if necessary. However, in no event shall the Company be not responsible for any legal responsibilities and liabilities incurred therefrom.
c. The Lot will remain insured up to 7 days after the successful online bid date. If the Lot has not been sold, it will be at the Seller's risk.
d. The Company will not be liable for any damage caused to the Lots by force majeure (including without limitation strikes, incide3nts, natural disasters, hacking attacks, woodworm ,changes in atmospheric conditions, moisture, typhoon, earthquake or any event out of the control of both parties) Or any other event not attributable to the Company.
4. Seller Refuses to Purchase Insurance (not applicable to NFT lots)
4. Seller Refuses to Purchase Insurance (not applicable to NFT lots)
If the Seller instructs the Company specifically that it is unnecessary to purchase insurance for the Lot, the risks shall be borne entirely by the Seller until the Buyer makes all the payments and the Lot is delivered to the Buyer. The Seller must agree to unconditionally indemnify the Company, the employees and agents of the Company and the Buyer (if applicable) against any claims in connection with the damage to or loss of the Lots, regardless of the cause of such claim.. The Seller must be responsible and also pay for the expenses incurred as a result of such claim if requested by the Company, the employees and agents of the Company and the Buyer, even if such expenses are made as a result of negligence by the Company, the employees and agents of the Company and the Buyer, without proof of legal responsibility. The Seller must inform by himself/herself the underwriter of the Seller the provision herein.
5. Commitments Made by the Seller with Respect to the Lot
The Company should base the purchase and handling of Lots on the following undertaking made by the Seller:
a. The Seller is the legal owner of the Lot or has the unlimited right to assign his/her/its ownership in full to the Buyer without any restrictions, which should not concern any third party right or claim. No third parties will be able to claim any rights, requests, compensation from the Buyer with respect to the Lot.
b. The Seller complies with all the laws in connection with the import and export of online auction items and any other laws and has notified the Company in writing any failure to comply with such rules in the past.
c. The Seller has notified the Company in writing of any major modifications in the Lot to the best of his/her/its knowledge and any concern the third party has raised with respect to the ownership of the Lot and the condition.
In the event of any inaccuracy of the above a, b and c now or in the future, the Company or Buyer may take legal action against the Seller. The Seller must guarantee, if requested, to identify fully the Company and/or the Buyer all the claims, legal fees, attorney fees or other costs and expenses arising herefrom, whether caused by the Lot or the online auction proceeds.
6. Online Auction Arrangements
a. The Company has absolute discretion over the description of the online auction on the website, display layouts, authentication opinions, location and method of the auction, who will be allowed to bid and the acceptance of the bid price, whether to seek professional opinion and whether to combine or separate the Lots.
b. Any price estimates, whether verbal or written are strictly opinions and shall not serve as a guarantee of the final price for the Lot to be sold.
c. The Seller cannot withdraw the sale of the Lot without obtaining the prior written consent from the Company. The Company reserves the right to withdraw, suspend, or terminate the sale and authorization of the Lots for the following reasons. These reasons include:
(1)The Company is doubtful about the definition or authenticity of the Lot or the accuracy of the statement referred to in Articles 3, Section 5a, b. or c.
(2)Any violations of the Transaction Online Agreement.
(3)The Company deems it inappropriate to include the Lot in the online auction.
d. Withdrawal of Mandate or Authorization
(1)The Seller may not, prior to the bid, withdraw, suspend or terminate his/her/its mandate for the Lot(s) or the authorization to the Company under this Agreement without prior written consent of the Company.
(2)In the case of such withdrawal, suspending or termination without the Company’s prior written consent, the Seller shall pay the Company an amount equivalent to 40% of the Reserve Price as punitive damages in addition to the compensation for damages or economic loss to the Company.
(3)In case of default or breach of this Agreement, the Company may cancel or terminate this Agreement anytime and the Seller shall also pay all costs and expenses incurred by the Company under this Agreement.
7. Auction Rules
a. The Company will auction the item according to the Reserve Price for online bidding process.
b. If the bid price is lower than the Reserve Price, the Company is in no way to be held liable; however, the Company is entitled to auction the item at a price lower than the Reserve Price. If the Company so auctions the item, the Company is responsible to pay the Seller the difference between the bid price and the Reserve Price.
c. The Seller may not increase the price with his/her/its own or other third parties' name, nor participate in the bidding of his/her/its commissioned item(s)with his/her/its own or other third parties' name, however, the Company is authorized to bid on behalf of the Seller at the price not higher than the Reserve Price.
d. If Seller bid up prices of the commissioned Lot without fair reason on his/her/its own name or other third parties' name, or participate in the bidding on his/her/its own name or other third parties' name and enter into a successful bid, it shall be construed as the conclusion of the online auction of the Lot, and the Seller shall also assume the responsibility of the buyer, including but without limitation payment.
8. After the Successful Auction
a. Settlement
Upon the successful auction, the Company will request the Buyer to make full payment no later than within 7 calendar days following the successful online bid date. Upon payment by the Buyer, unless the Company receives a notice claiming such auction item is a counterfeit or stolen goods, the Company will remit to the Seller within 35 workdays following the successful online bid date an amount equal to the Bid price or the Reserve Price (if the Reserve Price is higher than Bid price) taking away all the expenses payable by the Seller. In the event the Buyer fails to make the payment within 7 calendar days of the successful online bid date, the Company will remit to the Seller within 7 following the payment in full by the Buyer. If, for any reason, the Company makes payment to the Seller before receiving the payment from the Buyer, the Company will acquire the ownership of the Lot; if the Lot is NFT, the Seller shall proceed in accordance with Article 2, Section 6, Paragraph b, subclause 3 . If the Lot is a counterfeit or stolen goods and the Company was required to withdraw the Lot from the Buyer as a result, the Seller shall return the entire payment received to the Company without objection.
Unless otherwise instructed by the Seller in writing, the Company will, in principle, make its payment in US dollars. If the Seller requests to pay in currencies other than US dollars or in cryptocurrency, the Company shall calculate the payment in accordance with the Company’s published exchange rates or the prices set on [*] exchange.
b. Closing of the Transaction and Seller Service Fee
(1)The transaction is closed when the Buyer has paid the Company in full after the online auction.
(2)The Seller Service fee which is 10% of the Bid price or the Reserve Price (whichever is higher) (taxes included), is payable by the Seller to the Company upon the conclusion of the online auctioned Lot.
c. Non-payment by the Buyer
If the Buyer fails to make all the payments due within 7 calendar days following the successful online bid date, the Company is entitled to negotiate special terms in connection with the payments, storage, and insurance on behalf of the Seller and act as deemed necessary by the Company to collect payments payable from the Buyer. Any and all damages, costs, expenses or fees incurred shall be borne by the Seller. However, the Company is not responsible for making payment remittance to the Seller nor for bringing any legal actions on behalf of the Seller. The Company will discuss with the Seller to adopt appropriate actions to claim auction payments from the Buyer.
d. Counterfeits or stolen goods
If the Buyer convinces or make the Company doubt that the Lot is a counterfeit or stolen good or involved in any illegality within ten (10) days after the successful online bid date, the Company may decide upon its sole discretion as follows:
(1)If the Buyer does not pay the payable payment in full yet, the Company has the right to withdraw the transaction.
(2)If the Buyer has paid the payable payment in full,, the Company may return the selling price (The Company may deduct the reasonable expenses and fees incurred) received from the Buyer and the Lot will be returned to the Seller or forwarded to the Police for handling. The Seller shall not object to the Company's decision and handling in accordance with this Lot and make any claim or allegation. The Company will notify the Seller of such matter and the Seller shall return to the Company without objection the entire payment received within three (3) days of such notification.
In the above circumstances, the Seller shall pay the Company fees and expenses, all losses, damages or related expenses and fees agreed upon in Article 3, Section 2 within 10 days. In case of the Seller's failure to make payment and compensation obligations, the Seller shall pay the interest for delay of the entire payment in the rate of five percent (5%) per annum. In addition, the Company may decide to offset the Seller's payment payable to the Company from the Company's or other subsidiaries' payments due to the Seller in other transactions. The Company will exercise lien for the latter. Any items belonging to the Seller under control of the Company will be kept as security of the payments to be returned.
e. Items Not Successfully Auctioned (not applicable to NFT Lots)
(1)Any items not successfully auctioned or withdrawn or terminate the sale from the online auction for any reason must be collected by the Seller within 35 days upon notification by the Company to the Seller that he/she/it must reclaim the Lot.
(2)A storage fee of HK$300 per day per piece will be imposed on each Lot not collected after such 35 day period together with an additional charge for purchasing insurance coverage. The Seller may not reclaim such item until all the payments due are made.
(3)Such Lots may be removed to a third party warehouse if not collected in 60 days after the notification of collection is issued. The risk and expenses arising therefrom shall be borne by the Seller.
(4)The Company may dispose of the Lot in the manner it deems appropriate if such item is not collected within 90 days following the notice date. to the Company may auction such items under terms deemed appropriate by the Company (including the terms of estimates and the Reserve Price). The Company will pay the Seller the auction proceeds after payments owed to the Company are offset.
(5)The Company is authorized to act as the sole agent of the Seller within 35 days following the online auction for any item where the bid is withdrawn by the Bidder or not sold as a result of similar reasons. The Company may auction in private the item based on the Reserve Price or sell such item in private at a lower price agreed upon by the Company and the Seller. The Company has the rights to offset all expenses payable by the Seller in advance. Under such circumstances, the Seller's responsibilities and liabilities to the Company are the same as during an auction.
9. Photographs and Display
The Seller agrees the Company have rights to make the photographs, illustration, recordings and other reproduced images of the Lot. The Company owns all rights to the photographs, illustration, recordings and other reproduced images of the Lot made by the Company. All the rights (including but without limitation the copyright) of such images shall belong to the Company and the Company is entitled to use such images in any manner it deems appropriate, and the Seller has no objection.
10. Other Matters
a. Taxes
(1)After the Lot sold out, the Seller shall provide passport, ID, company registration document or other necessary document or invoices to the Company for tax filing according to the tax laws of Hong Kong or requirements of competent revenue agency.
(2)If the Seller is a Hong Kong resident (corporation or individual), according to the tax laws of Hong Kong, no withholding amount of the profit tax will be deducted from the seller. However, the Company shall reserve the rights to claim for the tax amount and other related expenses (including but not limited to interests, penalty and attorneys' fees) from the Seller if the representation made or document provided by the Seller is not true.
(3)Where the Seller is not Hong Kong resident, the Seller agrees that the Company may deduct an amount equivalent to 0.5% of the bid price or the Reserve Price (whichever is higher) as Profits tax. The amount to be deducted and filed with competent revenue agency by the Company shall be subject to change once the applicable tax rate is adjusted.
b. Electrical and Mechanical Parts
If the Lots include any electrical or mechanical parts, the Seller must be responsible for ensuring that such parts are safe to operate. The Seller shall be responsible for any damage, claims, expenses or costs arising from violation of the foregoing.
There are other special additional conditions apply to this provision. The relevant conditions are available at the Company.
Article 4.Terms Applicable to Both the Buyer and the Seller
1. Intellectual Property Rights
Intellectual property rights (including but without limitations, the copyright or patent) of all the images, photographs and written material in connection with the Lot shall maintain and belong to the Company at all times. The Buyer, Seller or any person may not use such items without obtaining prior written consent from the Company.
2. Privacy Rights
The Company will keep the personal information provided by the Seller and the Buyer strictly confidential, and manage, protect and process the above personal information properly according to Personal Information Protection Act and the laws and regulations related to privacy rights. The Company will not provide the above personal information to any third party. The obligations agreed to herein shall not apply to personal information which is:
a. Known by the Company, the affiliates and subsidiaries, proxy, consultant of the Company or the person who needs to know for the duty.
b. At the request of court order, any request from each government agencies (including but not limited to the administrative agency and judicial agency) or in accordance with regulations or law of any country.
c. Approved by written authorization of the party who provides the above personal information.
3. Notices
a. The Company shall distribute the notices in writing according to this Agreement, Mandate Agreement or contact information provided by the Buyer or the Seller. The Company may distribute the notices via letter, email, communication application programs, fax or other tangible manners (referred to as “Contact Manner”), When the notification is issued, such notice shall be considered to have been issued validly.
b. The Seller or Buyer shall notify the Company in writing of any changes of the Contact Manner.
4. Severability
a. If any part of the Transaction Online Agreement is deemed invalid, illegal or unenforceable by any court, such part can be ignored and the rest of the Agreement shall continue to be valid and enforceable to the maximum extent permitted by the law.
b. The conditions of the Buyer under Article 2 exclusively apply to the relationship between the Company and the Buyer, which shall not apply to the Seller. And the conditions of the Seller under Article 3 exclusively apply to the relationship between the Company and the Seller, which shall not apply to the Buyer.
c. In the event of conflict between the terms of this Agreement and the agreement entered into between the Seller and Buyer, that agreement entered into between the Seller and Buyer shall prevail.
5. This Agreement is entered into the parties in English and Chinese. If there is any conflict with two versions, the Chinese version shall prevail.
6. This Agreement may be revised or modified by the Company from time to time, and the Bidder, the Buyer and the Seller agree to obey with the revision or modification.
7. Jurisdiction
If there is any dispute regarding the Agreement or related matters, the Company, the Seller, and the Buyer shall negotiate amicably first, and agree that the Agreement shall be governed under by the laws of Hong Kong and the interpretation and effect of the Agreement shall be subject to the laws of Hong Kong. The Buyer and Seller shall submit themselves to the exclusive jurisdiction of the Hong Kong courts and the appeal courts thereof.