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BUYING AT AUCTION – WINE & SPIRITS SALES

Buying at Auction The following pages are designed to give you useful information on how to buy at auction. Sotheby’s staff as listed at the front of this catalogue will be happy to assist you. However, it is important that you read the following information carefully and note that Sotheby’s acts for the seller; you should refer in particular to Conditions 3 and 4 of the Conditions of Business for Buyers printed in this catalogue.

Prospective bidders should also consult www.sothebys.com for the most up to date cataloguing of the property in this catalogue.

Buyer’s Premium and Overhead Premium A buyer’s premium and overhead premium will be added to the hammer price and is payable by the buyer as part of the total purchase price. The buyer’s premium is 24% of the hammer price. The overhead premium, which covers an allocation of Sotheby's overhead costs relating to our facilities, property handling and other administrative expenses, is 1% of the hammer price

1. BEFORE THE AUCTION

Catalogue Subscriptions If you would like to take out a catalogue subscription, please ring (852) 2822 8142.

Deposit If you wish to bid on () lots in the printed catalogue and (✧) lots in the eCatalogue, you may be requested by Sotheby’s to deliver to Sotheby’s a deposit of HK$5,000,000 or such other higher amount as may be determined by Sotheby’s (for any items of Chinese Works of Art, Fine Chinese Paintings, Fine Classical Chinese Paintings, Magnificent Jewels & Jadeite and Modern & Contemporary Art – Evening Sale) and of HK$2,000,000 or such higher amount as may be determined by Sotheby’s (for any items in other categories), and any financial references, guarantees and/or such other security as Sotheby’s may require in its absolute discretion as security for the bid.

For any lots other than Premium Lots, regardless of the low pre-sale estimate for the lot, Sotheby’s reserves the right to request from prospective bidders to complete the preregistration application form and to deliver to Sotheby’s a deposit of HK$1,000,000 or such higher amount as may be determined by Sotheby’s (for any items of Chinese Works of Art, Fine Chinese Paintings, Fine Classical Chinese Paintings, Magnificent Jewels & Jadeite and Modern & Contemporary Art – Evening Sale) and of HK$500,000 or such other higher amount as maybe determined by Sotheby’s (for any items in other categories) and any financial references, guarantees and/or such other security as Sotheby’s may require in its absolute discretion as security for the bid.

Bidding in advance of the Live Auction Certain auctions have a period of online bidding followed by a live auction. In such cases, if you are unable to attend the live auction in person and wish to place bids, or simply wish to bid in advance of the live auction, you may do so on sothebys.com or via the Sotheby's App (each an "Online Platform" and together, the "Online Platforms"). In order to do so, you must register an account with Sotheby's and provide the requested information. Once you have done so, navigate to your desired lot and click the “Place Bid” button to start the process. You may bid at or above the starting bid displayed on the Online Platforms. Please note that Sotheby's reserves the right to amend the starting bid prior to the start of the live auction. You may also input your maximum bid which, upon confirmation, will be executed automatically up to this predefined maximum value, in response to other bids, including bids placed by Sotheby's on behalf of the seller, up to the amount of the reserve (if applicable). The current leading bid will be visible to all bidders; the value and status of your maximum bid will be visible only to you. If the status of your bid changes, you will receive notifications via email and push (if you have enabled push notifications on your device) prior to the start of the live auction. You may raise your maximum bid at any time in advance of the live auction. Please note that in certain circumstances clients who have been outbid may be reinstated as the leading bidder and will receive notification via email or push (if enabled on your device). Please refer further to the "BIDDING IN THE SALE” section below. Online bids are made subject to the Additional Terms and Conditions for Online Bidding, which are published below and can also be viewed at sothebys.com, as well as the Conditions of Business applicable to the sale. Online bidding may not be available for Premium Lots.

Pre-sale Estimates Pre-sale estimates are intended as a guide for prospective buyers. Any bid between the high and low pre-sale estimates would, in our opinion, offer a chance of success. However, all lots can realise prices above or below the pre-sale estimates. It is advisable to consult us nearer the time of sale as estimates can be subject to revision. The estimates do not include the buyer’s premium.

Cataloguing of old Wines and Spirits Wines and spirits are catalogued as accurately as possible at the time of going to press including the levels. However, such levels may change between cataloguing and sales. This may be caused by the ageing of the cork or by a change in the temperature of the storage conditions or the shipment of the wines and spirits. Additionally, there is a risk of cork failure in old wines and spirits which must be taken into account by the potential purchasers. Purchasers must take into consideration the natural variations and conditions of cases, labels, ullages, corks, wines and spirits. Except as set out in Sotheby’s Authenticity Guarantee. Sotheby’s is unable to accept returns.

Cautionary Notes Sotheby’s will not entertain any price negotiation or credit after the delivery is made and returns will not be accepted. Under no circumstances will substitutes be provided by Sotheby’s; for example in case of breakage or error of description.

Condition of Lots Prospective buyers are encouraged to inspect the property at the pre-sale exhibitions. Solely as a convenience, Sotheby’s may provide condition reports. The absence of reference to the condition of a lot in the catalogue description does not imply that the lot is free from faults or imperfections. Please refer to Condition 3 of the Conditions of Business for Buyers printed in this catalogue.

2. BIDDING IN THE SALE

Bidding at the Live Auction Following any applicable online bidding period, bids may be executed during the live auction in person, on the telephone or online via an Online Platform. Auction speeds vary, but average between 50 and 200 lots per hour. The bidding steps are generally in increments of approximately 10% of the previous bid.

Please refer to Conditions 5 and 6 of the Conditions of Business for Buyers printed in this catalogue.

Bidders using an Online Platform are subject to the Additional Terms and Conditions for Online Bidding, which are published below and can also be viewed at sothebys.com, as well as the Conditions of Business applicable to the sale. Online bidding may not be available for Premium Lots.

Bidding in Person If you would like to bid in person, you may register for prior to the start of the live auction through an Online Platform or by contacting Sotheby’s. Alternatively, you may register for a paddle upon entering the saleroom. Proof of identity will be required. If you are a first-time bidder, you will also be asked for your address, phone number, email address and signature in order to create your account. If you have a Sotheby’s Client Card, it will facilitate the registration process. If you wish to register to bid on a Premium Lot, please see the paragraph above. Should you be the successful buyer of a lot, please ensure that your paddle can be seen by the auctioneer and that it is your number that is called out.

Should there be any doubts as to price or buyer, please draw the auctioneer’s attention to it immediately. All lots sold will be invoiced to the name and address in which the paddle has been registered and cannot be transferred to other names and addresses. Please do not mislay your paddle; in the event of loss, inform the Sales Clerk immediately. At the end of the sale, please return your paddle to the registration desk.

Absentee Bids For some sales (other than where the option to Advance Bid (as defined below) is enabled and a current bid is visible on the Online Platforms), if you are unable to attend the live auction in person, you may place your maximum bid prior to the start of the live auction on an Online Platform or by submitting your maximum bid in writing to Sotheby’s. When the lot that you are interested in comes up for sale, the auctioneer will execute the bid on your behalf, making every effort to purchase the lot for as little as possible and never exceeding your limit. This service is free and confidential.

Telephone Bids If you cannot attend the auction, it may be possible to bid on the telephone on lots with a minimum low estimate of HK$15,000. As the number of telephone lines is limited, it is necessary to make arrangements for this service 24 hours before the sale.

We also suggest that you leave a maximum bid which we can execute on your behalf in the event we are unable to reach you by telephone. Multilingual staff are available to execute bids for you. Telephone bids are accepted only at Sotheby’s discretion and at the caller’s risk. Calls may also be recorded at Sotheby’s discretion. By bidding on the telephone, prospective buyers consent thereto. Please refer to Condition 5 of the Conditions of Business for Buyers published below.

Advance Bidding For certain sales, bidders may submit bids in advance of the live auction (“Advance Bid”) through an Online Platform, as described above or by submitting your maximum bid in writing to Sotheby’s. For these sales, if you submit an Advance Bid prior to the live auction, the system will automatically bid on your behalf up to and including your predetermined maximum Advance Bid in response to other bids and will alert you via email and push notifications (if enabled on your device). During the live auction, if your Advance Bid remains as the leading bid, the auctioneer will execute your bid on your behalf in response to other bids. You may also continue to bid during the live auction above your predetermined maximum Advance Bid via an Online Platform using the Live Online Bidding method described below.

Live Online Bidding If you cannot attend the live auction, it is possible to bid live online via an Online Platform. For information about registering to bid via an Online Platform please refer to www.sothebys.com.

The online bidding service is not available for premium lots.

Consecutive and Responsive Bidding The auctioneer may open the bidding on any lot by placing a bid on behalf of the seller.

The auctioneer may further bid on behalf of the seller, up to the amount of the reserve, by placing consecutive or responsive bids for a lot. Please refer to Condition 6 of the Conditions of Business for Buyers published below.

Employee Bidding Sotheby’s employees may bid only if the employee does not know the reserve and fully complies with Sotheby’s internal rules governing employee bidding.

US Economic Sanctions The United States maintains economic and trade sanctions against targeted foreign countries, groups and organisations. There may be restrictions on the import into the United States of certain items originating in sanctioned countries, including Burma, Cuba, Iran, North Korea and Sudan. The purchaser’s inability to import any item into the US or any other country as a result of these or other restrictions shall not justify cancellation or rescission of the sale or any delay in payment. Please check with the specialist department if you are uncertain as to whether a lot is subject to these import restrictions, or any other restrictions on importation or exportation.

3. THE AUCTION

Conditions of Business Sotheby’s auctions are governed by the Conditions of Business for Sellers and Buyers and the Authenticity Guarantee. These apply to all aspects of the relationship between Sotheby’s and actual and prospective bidders and buyers. Anyone considering bidding in the auction should read them carefully. They may be amended by way of notices posted in the saleroom or by way of announcement made by the auctioneer. Online bids are made subject to the Conditions of Business applicable to the sale and the Additional Terms and Conditions for Online Bidding, which are published below and can also be viewed at sothebys.com.

Interested Parties Announcement In situations where a person who is allowed to bid on a lot has a direct or indirect interest in such lot, such as the beneficiary or executor of an estate selling the lot, a joint owner of the lot, or a party providing or participating in a guarantee of the lot, Sotheby’s will make an announcement in the sale room that interested parties may bid on the lot. In certain circumstances, interested parties may have knowledge of the reserves.

Currency Board As a courtesy to bidders, a currency board is operated in many salerooms. It displays the lot number and current bid in both Hong Kong Dollars and foreign currencies. Exchange rates are approximations based on recent exchange rate information and should not be relied upon as a precise invoice amount. Sotheby’s assumes no responsibility for any error or omission in the currency amounts shown.

4. AFTER THE AUCTION

Invoices Successful bidders will receive an invoice detailing their purchase and giving instructions for payment and clearance of goods.

Payment The buyer must present satisfactory legal documentation that he or she is at least 18 years of age. Payment is due in HK dollars immediately after the sale and may be made by the following methods: Cash, Banker’s Draft, Cheque, Wire Transfer and Credit Card (American Express, Mastercard, Union Pay & Visa). It is against Sotheby’s general policy to accept single or multiple related payments in the form of cash or cash equivalents in excess of HK$80,000.

It is Sotheby’s policy to request any new clients or buyers preferring to make a cash payment to provide proof of identity (by providing some form of government issued identification containing a photograph, such as a passport, identity card or driver’s licence) and confirmation of permanent address. Thank you for your co-operation.

Cheques and drafts should be made payable to Sotheby’s Hong Kong Limited. Although personal and company cheques drawn in HK dollars on Hong Kong banks are accepted, you are advised that property will not be released until such cheques have cleared unless you have a prearranged Cheque Acceptance Facility. Forms to facilitate this are available from the Finance Department in Hong Kong.

All charges are subject to acceptance by Sotheby’s and by American Express, Mastercard, China UnionPay or Visa, as the case may be. In the case a charge is not approved, you will nevertheless be liable to Sotheby’s for all sums incurred by you. Credit card purchases may not exceed HK$1,000,000. For all new clients to Sotheby’s or those whom we have not transacted before, we reserve the right to accept credit card payments presented in person only. For further details please contact the Post Sale Services Department on +852 2822 5533.

Please note that Sotheby’s reserves the right to decline payments received from anyone other than the buyer of record and that clearance of such payments will be required. Please contact our Post Sale Services if you have any questions concerning clearance.

We reserve the right to seek identification of the source of funds received.

New Clients If you have opened a new account with Sotheby’s since 1 December 2002, and have not already provided appropriate identification, you will be asked to present documentation confirming your identity before property can be released to you. We may also contact you to request a bank reference. Please provide government issued photographic identification such as a passport, identity card or driver’s licence and confirm your permanent address.

The Conditions of Business require buyers to pay immediately for their purchases. However, in limited circumstances and with the seller’s agreement, Sotheby’s may grant buyers it deems creditworthy the option of paying for their purchases on an extended payment term basis. Credit terms must be arranged prior to the sale. In advance of determining whether to grant the extended payment terms, Sotheby’s may require credit references and proof of identity and residence.

Collection & Storage For items from this sale that are not collected from Crown Wine Cellars, Sotheby’s can offer storage at Crown Wine Cellar, which will be subject to the buyer’s acceptance of the Virtual Cellar Terms of Use, Storage Terms of Use and Auto-Renewal Policy that may be found at https://www.sothebyswine.com/hk/storage.

To arrange shipping or collection, please contact:

Post Sale Services

(Mon to Fri 9:30a.m. to 6:00 p.m.)

+852 2822 5533

FAX +852 2501 4266

hkpostsaleservices@sothebys.com

For details, please refer to Location, Storage, Collection and Delivery of Wines page published below.

It is Sotheby’s policy to request proof of identity on collection of a lot. Lots will be released to you or your authorised representative when full and ﬁnal payment has been received by Sotheby’s, appropriate photographic identiﬁcation has been made, and a release note has been provided by Sotheby’s (open Monday to Friday 9:30am - 6pm).

If you are in doubt about the location of your purchases, please contact the Sale Administrator prior to arranging collection. Removal, storage and handling charges may be levied on uncollected lots. Please refer to Condition 7 of the Condition of Business for Buyers printed in this catalogue.

Loss or Damage Buyers are reminded that Sotheby’s accepts liability for loss or damage to lots for a maximum period of thirty (30) days after the date of the auction. Please refer to Condition 7 of the Conditions of Business for Buyers printed in this catalogue.

5. EXPLANATION OF SYMBOLS

Symbol Key The following key explains the symbols you may see inside this catalogue.

Premium Lots In order to bid on “Premium Lots” (✧) in print catalogue or in eCatalogue), Sotheby’s may request from prospective bidders to complete the pre-registration application form and to deliver to Sotheby’s a deposit of HK$5,000,000 or such other higher amount as may be determined by Sotheby’s (for any items of Chinese Works of Art, Fine Chinese Paintings, Fine Classical Chinese Paintings, Magnificent Jewels & Jadeite and Modern & Contemporary Art – Evening Sale) and of HK$2,000,000 or such other higher amount as may be determined by Sotheby’s (for any items in other categories), and any financial references, guarantees and/or such other security as Sotheby’s may require in its absolute discretion as security for the bid. Please bear in mind that we are unable to obtain financial references over weekends or public holidays. Sotheby’s decision whether to accept any pre-registration application shall be final. If your application is accepted, you will be provided with a special paddle number. If all lots in the catalogue are “Premium Lots”, a Special Notice will be included to this effect and this symbol will not be used.

○ Guaranteed Property

The seller of lots with this symbol has been guaranteed a minimum price from one auction or a series of auctions. This guarantee may be provided by Sotheby’s, by a third party or jointly by Sotheby’s and a third party. Third parties providing all or part of a guarantee benefit financially if a guaranteed lot is sold successfully and may incur a loss if the sale is not successful. A third party providing a guarantee jointly with Sotheby’s may provide an irrevocable bid, or otherwise bid, on the guaranteed property. If the Guaranteed Property symbol for a lot is not included in the printing of the auction catalogue, a pre-sale or pre-lot announcement will be made indicating that there is a guarantee on the lot. If every lot in a catalogue is guaranteed, the Important Notices in the sale catalogue will so state and this symbol will not be used for each lot.

△ Property in which Sotheby’s has an Ownership Interest

Lots with this symbol indicate that Sotheby’s owns the lot in whole or in part or has an economic interest in the lot equivalent to an ownership interest. If all lots in the catalogue are lots in which Sotheby’s has an ownership interest, a Special Notice will be included to this effect and the triangle symbol will not be used.

⋑ Irrevocable Bids

Lots with this symbol indicate that a party has provided Sotheby’s with an irrevocable bid on the lot that will be executed during the sale at a value that ensures that the lot will sell. The irrevocable bidder, who may bid in excess of the irrevocable bid, will be compensated based on the final hammer price in the event he or she is not the successful bidder. If the irrevocable bidder is the successful bidder, he or she will be required to pay the full Buyer’s Premium and Overhead Premium and will not be otherwise compensated. If the irrevocable bid is not secured until after the printing of the auction catalogue, a prelot announcement will be made indicating that there is an irrevocable bid on the lot. If the irrevocable bidder is advising anyone with respect to the lot, Sotheby’s requires the irrevocable bidder to disclose his or her financial interest in the lot. If an agent is advising you or bidding on your behalf with respect to a lot identified as being subject to an irrevocable bid, you should request that the agent disclose whether or not he or she has a financial interest in the lot.

⊻ Interested Parties

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

□ No Reserve

Unless indicated by a box ( ), all lots in this catalogue are offered subject to a reserve. A reserve is the confidential hammer price established between Sotheby’s and the seller and below which a lot will not be sold. The reserve is generally set at a percentage of the low estimate and will not exceed the low estimate for the lot. Where a lot is offered “without reserve” absentee bids will be executed at a minimum of 10% of the low estimate. If any lots in a sale are offered without a reserve, these lots are indicated by a box ( ). If all lots in a sale are offered without a reserve, a Special Notice will be included to this effect and the box symbol will not be used.

6. ADDITIONAL SERVICES

Sotheby’s Financial Services* Sotheby’s offers a wide range of financial services including advances on consignments, as well as loans secured by art collections not intended for sale. This is not an offer or solicitation and the services are subject to the laws and regulations of the jurisdictions in which the services are provided. For further information please contact Sotheby’s Financial Services in London at +44 20 7293 6005.

Auction Estimates If you are considering selling property, we can provide you with our opinion of the likely sale value of your property if offered in a Sotheby’s auction. We advise you to make an appointment with the relevant expert department.

Valuations Our Valuation team specialises in appraisals of large private collections and can provide you with both a complete inventory and a detailed valuation for each individual item. This service is offered at competitive rates and is available if you are considering a sale or if you require the information for insurance, probate, asset management, tax management or estate planning purposes. For more details, please contact us on (852) 2524 8121, Fax (852) 2810 6238.

SOTHEBY’S AUTHENTICITY GUARANTEE FOR WINE: If Sotheby’s sells any wine which the Buyer subsequently shows to Sotheby’s reasonable satisfaction to be a “counterfeit”, subject to the terms below Sotheby’s will set aside the sale and refund to the Buyer the total amount paid by the Buyer to Sotheby’s for such wine, in the currency of the original sale.

For these purposes, “counterfeit” means a wine that in Sotheby’s reasonable opinion is an imitation created to deceive as to producer and vintage, where the correct description of the producer and vintage is not reflected by the description in the catalogue.

The Guarantee is provided for a period of twenty-one (21) days from the date of the relevant auction, is solely for the benefit of the original Buyer of record and may not be transferred to any third party.

To be able to claim under this Guarantee, the Buyer must:

(i) notify Sotheby’s in writing within such 21 day period of the reasons for believing the wine to be counterfeit, specifying the lot number, date of the auction at which it was purchased; and

(ii) return the item to Sotheby’s at the original selling location in the same condition as at the date of sale to the Buyer and be able to transfer good title to the lot, free from any third party claims arising after the date of the sale. Sotheby’s has discretion to waive any of the above requirements. Sotheby’s may require the Buyer to obtain at the Buyer’s cost the reports of two independent and recognised experts in the field, mutually acceptable to Sotheby’s and the Buyer.

Sotheby’s shall not be bound by any reports produced by the Buyer, and reserves the right to seek additional expert advice at its own expense.

In the event Sotheby’s decides to rescind the sale under this Guarantee, it may refund to the Buyer the reasonable costs of up to two mutually approved independent expert reports. Subject to the above, in the event that Sotheby’s determines that the Property is “counterfeit”, as the Buyer’s sole remedy Sotheby’s will rescind the sale and the seller will return the purchase price for the lot to the Buyer. Neither Sotheby’s nor the seller shall be liable for any incidental or consequential damages incurred or claimed, including without limitation, loss of profits or interest.

TAX INFORMATION FOR BUYERS

SALES AND USE TAXES

Buyers should note that local sales taxes or use taxes may become payable upon import of items following purchase (for example, use tax may be due when purchased items are imported into certain states in the US). Buyers should obtain their own advice in this regard.

In the event that Sotheby’s ships items for a purchaser in this sale to a destination within a US state in which Sotheby’s is registered to collect sales tax, Sotheby’s is obliged to collect and remit the respective state’s sales /use tax in effect on the total purchase price (including hammer price, buyer’s premium, overhead premium and any shipping services, including insurance), of such items, regardless of the country in which the purchaser resides or is a citizen. Where the purchaser has provided Sotheby’s with a valid Resale Exemption Certificate prior to the release of the property, sales / use tax will not be charged. Clients who wish to provide resale or exemption documentation for their purchases should contact Post Sale Services.

ADDITIONAL TERMS AND CONDITIONS FOR ONLINE BIDDING

The following terms and conditions (the “Online Terms”) provide important information related to live online bidding on sothebys.com or via the Sotheby’s App (each, an “Online Platform” and together, the “Online Platforms”).

These Online Terms are in addition to and subject to the same law which governs our standard Conditions of Business for Sellers, Conditions of Business for Buyers, the authenticity guarantee and any other terms that are applicable to the relevant sale (together “Conditions of Business”), and are not intended in any way to replace them. By participating in this sale via any Online Platform, you acknowledge that you are bound by the Conditions of Business applicable in the relevant sale and by these Online Terms.

Advanced Bidding

1. In the case of certain auctions, bidders can bid in advance of the live auction through an Online Platform (“Advance Bids”). In order to do so, you must register an account with Sotheby’s and provide requested information. You may bid at or above the starting bid displayed on the relevant Online Platform. Please note that Sotheby’s reserves the right to amend the starting bid prior to the start of the live auction.

You may also input a maximum bid which, upon confirmation, will be executed automatically up to this predefined maximum value, in response to other bids, including bids placed by Sotheby’s on behalf of the seller, up to the amount of the reserve (if applicable). Please note that reserves may be set at any time before the start of the live auction and your maximum bid may be executed against the reserve once such the reserve is set. Bids placed by Sotheby’s on behalf of the seller, up to the amount of the reserve, will be counted towards the total bid count displayed on the Online Platform.

The current leading bid will be visible to all bidders; the value and status of your maximum bid will be visible only to you unless it is the leading bid. If the status of your bid changes, you will receive notifications via email and push (if you have the Sotheby’s App installed) leading up to the live auction. You may raise your maximum bid at any time in advance of the live auction. Once the live auction begins, the auctioneer will open bidding at the current leading bid. The system will continue to bid on your behalf up to your predetermined maximum bid, or you may continue to bid via an Online Platform during the live auction at the next increment. You may nevertheless lower your maximum bid prior to the live auction by contacting the Bids Department, except that you may not lower it to a level lower than the current leading bid.

Please note that in certain circumstances, clients who have been outbid may be reinstated as the leading bidder and will receive notification via email or push (if enabled on your device)

Live Online Bidding

2. Once it commences, a live auction is by its nature fast-moving and bidding may progress very quickly. The procedure for placing bids online during the live auction is therefore a one-step process; as soon as the “Place Bid” button is clicked, a bid is submitted. By bidding online, you accept and agree that bids submitted in this way are final and that you may not be permitted to amend or retract your bid. If a successful bid is sent to Sotheby’s from an Online Platform using your Sotheby’s account, you irrevocably agree to pay the full purchase price, including buyer’s premium, overhead premium and all applicable taxes and other applicable charges. You may nevertheless lower your maximum bid prior to the live auction by contacting the Bids Department, except that you may not lower it to a level lower than the current leading bid.

3. The next bidding increment is shown for your convenience. The auctioneer has discretion to vary increments for bidders in the auction room and on the telephone but bidders using an Online Platform to bid may not be able to place a bid in an amount other than a whole bidding increment. All bidding for the sale will be in the domestic currency of the sale location, and online bidders will not be able to see the currency conversion board that may be displayed in the auction room.

General use of an Online Platform

4. By bidding via an Online Platform, you accept and agree that bids submitted in this way are final and that you may not be permitted to amend or retract your bid. If a successful bid is sent to Sotheby’s from an Online Platform using your Sotheby’s account, you irrevocably agree to pay the full purchase price, including buyer’s premium, overhead premium and all applicable taxes and other applicable charges.

5. The record of sale kept by Sotheby’s will be taken as absolute and final in all disputes. In the event of a discrepancy between any online records or messages provided to you and the record of sale kept by Sotheby’s, the record of sale will govern.

6. Online bidders are responsible for making themselves aware of all saleroom notices and announcements which will be accessible on the Online Platforms.

7. Sotheby’s reserves the right to refuse or revoke permission to bid via Online Platforms and to remove bidding privileges during a sale.

8. The purchase information shown in the “My Bids” section of the Sotheby’s App and in the “Account Activity” section of “My Account” on sothebys.com is provided for your convenience only. Successful bidders will be notified and invoiced after the sale. In the event of any discrepancy between the online purchase information which may or may not be shown in the My Bids section and the invoice sent to you by Sotheby’s following the sale, the invoice prevails. Terms and conditions for payment and collection of property remain the same regardless of how the winning bid was submitted.

9. Sotheby’s offers online bidding as a convenience to our clients. Sotheby’s is not responsible for any errors or failures to execute bids placed online, including, without limitation, errors or failures caused by (i) a loss of connection to the internet or to the online bidding software by either Sotheby’s or the client; (ii) a breakdown or problems with the online bidding software; or (iii) a breakdown or problems with a client’s internet connection, computer or electronic device. Sotheby’s is not responsible for any failure to execute an online bid or for any errors or omissions in connection therewith.

10. Online bidding will be recorded.

11. In the event of any conflict between theses Online Terms and Sotheby’s Conditions of Business and the terms of Sotheby’s Authenticity Guarantee, Sotheby’s Conditions of Business and Authenticity Guarantee will control.

LOCATION, STORAGE, COLLECTION AND DELIVERY OF WINES

Wines offered lying in Hong Kong Wines may be sold and delivered only to persons who are 18 years old. Buyer warrants that he/she is at least 18 years of age. Buyer shall be responsible for the shipment of these wines being received by a person at least 18 years of age or over. Except where otherwise stated, all lots are offered lying in Hong Kong at the warehouse of Crown Wine Cellars Limited (“Crown Wine Cellars”). Please refer to Crown Wine Cellars Limited Conditions of Services and Crown Wine Cellars’ Shipping, Collection and Storage page printed in this catalogue. Collections Collection from Crown Wine Cellars will be by appointment only. At least 7 days’ notice must be given. All clients (or their agents e.g. shippers) must examine all purchases or consignments in the presence of Crown Wine Cellars’ staff at Crown Wine Cellars’ premises from which they are collected. It is both Sotheby’s and Crown Wine Cellars’ policy to request proof of identity on collection of a lot. Lots will be released to you by Crown Wine Cellars or your authorised representative when full and cleared payment has been received by Sotheby’s in Hong Kong. Removal, interest, storage and handling charges will be levied on uncollected lots. Please refer to Crown Wine Cellars Limited Conditions of Services printed in this catalogue.

Release of Lots Authority for the release of lots to the buyer will be a Release Note issued by Sotheby’s to Crown Wine Cellars, which will be issued only after full payment has been received, appropriate identification, and delivery instructions has been provided. Crown Wine Cellars will then pass the Release Note to the buyer to sign. All enquiries relating to delivery should be directed to Crown Wine Cellars after the Release Note has been issued by Sotheby’s.

Hong Kong Delivery The wines will be delivered by Crown Wine Cellars in accordance with the Buyer’s instructions in the Delivery Instruction Form. Please note that Sotheby’s does not ship wine to buyers. Sotheby’s will forward to Crown Wine Cellars all delivery and collection requests received from buyers. On behalf of the buyer, Crown Wine Cellars will arrange shipping or schedule a collection, subject to applicable law. All shipping and insurance costs and expenses must be pre-paid. A lot can only be delivered to one address, and you cannot split a lot for delivery to more than one addresses.

Delivery outside Hong Kong Sotheby’s and Crown Wine Cellars cannot arrange nor take responsibility for shipments to non-Hong Kong addresses. For shipments outside of Hong Kong, Sotheby’s Wine will be pleased to introduce the purchaser to a forwarding agent. Where it is necessary to have a licence to import wines, procural of the licence shall be the sole responsibility of the purchaser. All agents/ shippers collecting wine on behalf of purchaser for non-Hong Kong shipments must examine consignments in the presence of Crown Wine Cellars’ staff at Crown Wine Cellars’ premises from which they are collected. Sotheby’s will not refund any shipping charges under any circumstances. Please be advised that most countries regulate the shipment of wine. We urge you to investigate your country’s regulations before bidding or arranging for shipment of wine into your country. Neither Sotheby’s nor Crown Wine Cellars shall as a condition of sale assume any obligation nor bear any responsibility whatsoever for applying for or obtaining any permits or licenses. Therefore, all bidders are strongly advised to investigate the specific requirements to determine the manner in which alcoholic beverages shall be brought into their country so as to comply with all local regulations. Crown Wine Cellars and Sotheby’s make no representation to the legal rights of anyone to ship or import alcoholic beverages into any country. Wines may be sold and delivered only to persons who are of and above legal age (18 years old or above in Hong Kong); please check local laws.

Re-packing of Wines for Shipping outside Hong Kong Sotheby’s and Crown Wine Cellars strongly recommend wines be re-packed into styrofoam cartons for any shipment outside Hong Kong. While Crown Wine Cellars cannot arrange nor take responsibility for shipments outside Hong Kong, at the buyer’s request they can re-pack wines into styrofoam cartons at the rate of HK$160 per case of 6 bottles and HK$320 per case of 12 bottles, with a minimum charge of HK$160. Such fees must be paid in cash upon collection of the wines by the buyer or their shipping agent. It is the responsibility of the buyer or their shipping agent to request this service from Crown Wine Cellars, otherwise wines may be released in cartons not suitable for international shipping. Neither Sotheby’s nor Crown Wine Cellars take any responsibility for breakage of wines in during shipment, regardless of whether the wines have been re-packed or not. When requesting wines to be re-packed, please indicate to Crown Wine Cellars whether you do not want your shipper to collect any original wooden case.

Crown Wine Cellars will also release any original wooden case to the shipper, unless otherwise instructed by the buyer.

Export The export of any lot from Hong Kong or import into any other country may be subject to one or more export or import licences being granted. It is the buyer’s responsibility to obtain any relevant export or import licence. The denial of any licence required or delay in obtaining such licence cannot justify the cancellation of the sale or any delay in making payment of the total amount due. Sotheby’s recommends that you retain all import and export papers, including licences, as in certain countries you may be required to produce them to governmental authorities.

Storage Complimentary storage for wine purchased in this sale will be available at Crown Wine Cellars for a period of 30 days following the auction. Should buyers wish to store their wine with Sotheby’s Wine Storage, Sotheby’s can offer storage at Crown Wine Cellar, which will be subject to the buyer’s acceptance of the Virtual Cellar Terms of Use, Storage Terms of Use and Auto-Renewal Policy that may be found at https://www.sothebyswine.com/hk/storage.

Non-arrival, loss, breakage and shortage Loss, breakage and shortage should be notified to both Sotheby’s and Crown Wine Cellars in writing within three days of delivery, which must be examined in the presence of the carrier on arrival. In the event of non-arrival, the buyer must inform both Sotheby’s and Crown Wine Cellars in writing within 21 days of the date of the Release Order.

NOTE: Neither Sotheby’s nor Crown Wine Cellars is responsible for any acts or omission of any shipper, including, without limitation, any packing, shipping, delivery or insurance for purchased lots.