sotheby's hong kong jewelry auction

However, the identity of the seller or previous owners may not be disclosed for a variety of reasons. 11–18 December 2020 | 10:00 AM HKT | Hong Kong. For each Experience, any incidental costs and expenses such as fees for travel, food or lodging are the sole responsibility of the Purchaser unless otherwise expressly stated in the Experience Listing for the applicable Experience. 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. Although personal and company cheques drawn in Hong Kong 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 pre-arranged Cheque Acceptance Facility. This top color jadeite necklace was the highest-grossing lot at Sotheby’s jewelry auction in Hong Kong this week, selling for $8.1 million. (b) Bidders acknowledge that many Lots are of an age and type which means that they are not in perfect condition. If you are outbid by another Bidder, you will receive an email notification to inform you accordingly and providing a link to follow to increase your bid. 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. Buyers should obtain their own advice in this regard. I’m therefore delighted to write that, this October, my own jewellery will be sold by Sotheby’s Hong Kong, which has long distinguished itself as a leader in Asia’s auction world. Condition reports may be available to assist Bidders with assessing the condition of a Lot and are for guidance only. (e) In the event that you submit a bid for an amount at which a bid has already been accepted, your bid shall be rejected. A Buyer’s Premium and Overhead Premium is payable by the successful Bidder on a Lot in an Online Only Auction. In an Online Only Auction conducted by Sotheby's in Hong Kong, the Buyer’s Premium rate is as follows: 25% of the Hammer Price up to and including HK$3,500,000, 20% of any amount in excess of HK$3,500,000 up to and including HK$31,000,000 and 13.9% of any amount in excess of HK$31,000,000. Duties of Bidders and of Sotheby’s in respect of items for sale. Additional Provisions which apply where a Lot is an Experience. Sotheby's does not plan, host, operate, or fulfil the Experiences. Sotheby’s decision whether to accept any pre-registration application shall be final. Sotheby's Jewelry Department presents its upcoming fine and antique jewelry auctions, online jewelry auctions, auction results, online catalogues, and specialists insights. (a) Bidding opens at a specified amount (which is below the presale low estimate for the Lot) and escalates in bid increments which are set out in the Online Sale Information relating to the Lot and which are determined at Sotheby’s discretion). 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. Once you have registered for a particular Online Only Auction, you can submit bids using your existing Verified Account (if you have multiple accounts, you will need to select the account under which you wish to transact in a particular Online Only Auction). Once you have set up a Verified Account, you will be able to submit a bid for a Lot by entering your maximum bid and clicking the ‘Place Bid’ button which appears at Lot level on the Online Only Platform. (e) Subject to the matters referred to at 3(a) to 3(d) above and to the specific exclusions contained at Condition 4 below, Sotheby’s shall exercise such reasonable care when making express statements in the Online Sale Information (including, but not limited to, the catalogue description and any condition report relating to the Lot) as is consistent with the standard of care which a Bidder would reasonably expect from an auction house of Sotheby’s standing taking into account the estimate of the relevant Lot and in the light of: (i) the information provided to it by the Seller; (ii) scholarship and technical knowledge; and. (a) Sotheby’s shall refund the Purchase Price to the Buyer in circumstances where it deems that the Lot is a Counterfeit and each of the conditions of the applicable Authenticity Guarantee has been satisfied. It is the Buyer's sole responsibility to identify and obtain any necessary export, import, firearm, endangered species or other permit for the lot. (e) The Contracts (Rights of Third Parties) Ordinance (Cap. A fine jewellery auction by Sotheby’s Hong Kong realised a total of HK$437.67 million (US$56.47 million), reflecting robust demand for high-quality jewels and collectors’ items in Asia. In circumstances where the Seller is an Online Consumer, the right to cancel the purchase of a Lot does not apply however the Buyer may have the right (under the EU Consumer Rights Directive) to cancel certain services provided by Sotheby’s in connection with the purchase of the Lot (in accordance with the procedure set out at Condition 12 of these Conditions of Business for Buyers (Online Only)). No lot shall be considered a counterfeit by reason only of any damage and/or restoration and/or modification work of any kind (including repainting or over-painting). Online sales for Sotheby’s Asia rose by 440% in 2020 compared to full-year results in 2019. Slated to begin on October 7, 2013, in Hong Kong, the sale has been carefully curated to present what Head of Jewelry at Sotheby's Asia, Quen Chin Yeow calls "an enchanting feast for discerning collectors" {}.White & Blue Diamonds Lead the Sale Terms and conditions regarding payment of the invoice are set out below. Cabinets of curiosities were curations of extraordinary objects from a variety of categories that ranged from gems to antiquities, with some of the earliest examples dating back to the 16th century. The D color, internally flawless diamond (pictured) is the second-largest oval diamond of its kind to be offered at auction. CONDITIONS OF BUSINESS FOR BUYERS (ONLINE ONLY). Similarly, where Sotheby’s may suggest or recommend any third party handler, packer or carrier if so requested by a Buyer, you acknowledge and agree that Sotheby’s does not accept liability for their acts or omission and you agree to release Sotheby’s from any such liability. In our opinion a copy of a known work of the artist. 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. About 25 percent to 30 percent of the money spent at the Hong Kong art and jewelry auctions comes from mainland Chinese buyers, but Hong Kong … The price it realizes will be widely analyzed as an indicator of consumer spending and confidence in both the luxury and the jewelry market. Any reference to condition in the Online Sale Information will not amount to a full description of the condition and the absence of any reference to the condition of a Lot in the online catalogue description does not imply that the Lot is free from faults or imperfections. Alternatively, the Online Consumer may use the model cancellation form set out below. The online images of the Lot form part of the condition report provided by Sotheby’s. Sotheby's Exceptional colored gems will take center stage at the next Sotheby’s Hong Kong Magnificent Jewels sale, which will be held live on October 7 at Sotheby… Every item on this page was chosen by a Town & Country editor. (f) The materials listed in Condition 1(a) above set out the entire agreement and understanding between the parties with respect to the subject matter hereof. Sotheby’s can advise buyers on exporting and shipping property. We reserve the right to remove these straps prior to shipping. 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. (b) Notices to Sotheby's should be in writing and addressed to the department in charge of the sale, quoting the reference number specified at the beginning of the sale catalogue. Can Rock Crystal Jewelry Make You Feel Better? Sotheby's is always happy to discuss any Lot in which you are interested. This fee and our Buyer’s Premium rates exclude local taxes and any applicable artist’s resale right. In order to be eligible to participate in an Online Only Auction, you must have registered, and maintain, a Verified Account. (e) In order to set up a Verified Account, you are required to supply the information requested, including valid credit card or other accepted payment method information. Clients who wish to provide resale or exemption documentation for their purchases and/or clients. Great designs, great gems and great style abound in Hong Kong’s upcoming Magnificent Jewels & Jadeite auction. i.           reject, revoke or refuse to accept any bid submitted for a Lot using the Online Only Platform even those bids which have previously been accepted; ii. Fine Jewels. iii. Any statement as to authorship, attribution, origin, date, age, provenance and condition is a statement of opinion and is not to be taken as a statement of fact. (b) Where the Bidder is bidding on behalf of another person or acting as agent (in either case, for the purposes of this Condition 14(b), the “Agent”) for another party (the “Principal(s)”), the Agent warrants in its own capacity (in addition to the warranties set out in Condition 14(a)) that: (i)   the Principal(s) is not a Sanctioned Person(s) nor owned (or partly owned) or controlled by Sanctioned Person(s); (ii) the funds used for purchase and settlement of the lot(s) are not connected with, nor have any link to any criminal activity, including without limitation tax evasion, money laundering, terrorist activities or other criminal activity and that the arrangements between the Agent and the Principal(s) of the lot(s) or otherwise do not, in whole or in part facilitate tax crimes; (iii) the lot(s) purchased by the Agent or the Principal(s) is not being purchased for the purposes of, or being used in any way connected with, or to facilitate breaches of any applicable tax, anti-money laundering or anti-terrorism laws or regulations; (iv) the Agent has conducted appropriate customer due diligence on the Principal(s) of the lot(s) in accordance with all applicable anti-money laundering and sanctions laws and regulations and the Agent does not know and has no reason to suspect that the funds used for settlement are derived from or connected with proceeds of any criminal activity including without limitation tax evasion, or that the ultimate buyer(s) is under investigation, or has been charged with or convicted of money laundering, terrorist activities or other criminal activity; (v) the Agent consents to Sotheby’s relying on the Agent’s customer due diligence, and the Agent will retain for a period of not less than 5 years the documentation evidencing the Agent’s customer due diligence. Please note that all electrical and mechanical goods are sold on the basis of their artistic and decorative value only, and should not be assumed to be operative. This morning Sotheby’s announced it will offer a rare 100 carat stone for sale without reserve, meaning it will accept the highest bid that comes in for it regardless of how it compares to the actual value of the stone. Many countries require a declaration of export for property leaving the country and/or an import declaration on entry of property into the country. Bids placed by Sotheby’s on behalf of the Seller, up to the amount of the Reserve, will be counted toward the total bid count displayed on the Online Only Platform. The previous auction record for a jewel in Asia was an 118.28ct oval-shaped D flawless diamond that sold for $30.6m at Sotheby’s Hong Kong in October 2013. Credit card purchases may not exceed HK$1,000,000. The Collection of Hester Diamond Part I. 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. (c) The Online Only Platform requires that you submit a bid which correlates to one of the increments set out in the bidding increment table which is available to view at Lot level. Available reports from internationally recognized gemmological laboratories will be noted in the description of the item. Information about Experiences is provided by the Seller. Sotheby's Hong Kong will auction the massive stone—without reserve—in October. All shipments should be unpacked and checked on delivery and any discrepancies notified to the transit insurer or shipper immediately. If you haven’t already registered as a Verified Accountholder, you will be prompted to do so at that point. (e) Sotheby’s shall not reimburse the Online Consumer by the amount of any supplementary costs which arise if you chose a type of delivery other than the least expensive type of standard delivery offered by Sotheby’s or any import duties we incur as a result of you returning the Lot to us. Our presale estimates reflect this assumption. (c) The Online Sale Information provided to Bidders in respect of a Lot, and any other estimate, whether written or oral, or other report, commentary or valuation, is not a representation of fact but rather is a statement of opinion genuinely held by Sotheby’s. Sotheby’s may receive a fee for its own account from the agent arranging the dispatch. Further information and guidance as to the application of such taxes is provided in the Guide to Buying in an Online Only Auction set out above. The jewel was designed by contemporary Hong Kong high jewelry house, Forms. Dimensions are given height before width. 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. (f) Sotheby’s reserves the right to deactivate your Verified Account at any time prior to, during, or after an Online Only Auction. (e) Nothing in this Condition 4 shall exclude or limit Sotheby’s liability in respect of any fraudulent misrepresentation made by Sotheby’s or the Seller, or in respect of death or personal injury caused by the negligent acts or omissions of Sotheby’s or the Seller. 3. Registering to bid in an Online Only Auction. Sotheby’s has sold 4 out of the 5 most expensive jewels ever offered at auction, led by the “CTF Pink Star”, a 59.60ct oval-cut Fancy Vivid Pink Internally Flawless diamond sold at Sotheby’s Hong Kong in April 2017 for USD $71.2 million, a world record price for any diamond or jewel. In certain instances, interested parties may have knowledge of the reserve. The seller of lots with this symbol has been guaranteed a minimum price from one auction or a series of auctions. (ii)  return the item to Sotheby’s in the same condition as at the date of sale to the Buyer and be able to transfer good title in the item, free from any third party claims arising after the date of the sale. Sotheby's has absolute discretion to refuse an application to register for, or bid in, an Online Only Auction. None of Sotheby's, its affiliates, or any of their respective employees, shareholders, officers or directors (each, a "Sotheby's Party") (a) are liable for any negligence or willful act or omission of any person or entity providing any goods or services arising out of or in connection with Purchaser's purchase of or participation in any Experience or otherwise arising out of or in connection with the fulfillment of a purchased Experience, or (ii) are responsible for and each expressly disclaims and you release each such person or entity from any liability for any injury, damage or harm to any person or entity or to real or personal property, financial or physical loss, death, inconvenience or delay arising out of or in connection with Purchaser's purchase of or participation in any Experience or otherwise arising out of or in connection with the fulfillment of a purchased Experience. Where a lot is offered “without reserve” absentee bids will be executed at a minimum of 10% of the low estimate. (h) If you fail to pay us the total amounts due for the purchased Lot(s) in accordance with Condition 8(b) above in full by the Due Date, Sotheby’s will be entitled to exercise any of the remedies identified at Condition 9 below. Please refer to the Conditions of Business for Buyers (Online Only) for more information. This is important because the EU Consumer Rights Directive provides that if the Seller is an Online Trader and the Buyer is an Online Consumer, the Buyer shall have the right to cancel the purchase of a Lot (in accordance with the procedure set out at Condition 11 of these Condition of Business for Buyers (Online Only)). For example, such information may be excluded to accommodate a seller's request for confidentiality or because the identity of prior owners is unknown given the age of the work of art. The application that enables participation in an Online Only Auction via the Online Only Platform is optimized for broadband connectivity (DSL or cable modem). 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. In connection with the sale of any Lot which is an Experience, in no event will Sotheby's aggregate total liability to a Purchaser exceed the portion of purchase price actually paid for a Lot equal to the value of the respective Experience. It’s a risk for the auction house surely, but also a strong display of confidence in the strength of the market right now, particularly in historic stones and classic jewelry pieces. In our opinion a work in the style of the artist and of a later date. For the safety of our clients and staff, Sotheby’s Hong Kong offices are currently open by appointment only. I/We* hereby give notice that I/We* cancel my/our sale of the following goods [*]/for the provision of the following services [*], Signature of Online Consumer(s) [only if the notification is in hard copy], 13. For further details please contact the Post Sale Services Department on +852 2822 5533. Sotheby's will take reasonable steps to notify the Buyer prior to releasing such details to the Seller. a letter sent by post, fax or email). This content is imported from Instagram. (g) The sale record for an Online Only Auction maintained by Sotheby’s will be taken as absolute and final in all disputes. Your updated bid is submitted by pressing ‘Continue to Confirm Bid’. Please be advised that straps made of material derived from endangered or otherwise protected species (i.e. Sotheby's does not verify the accuracy of this information. You will then be asked to review and confirm your maximum bid by pressing ‘Continue to Confirm Bid’ and in doing so your bid is submitted. The reserve is generally set at a percentage of the low estimate and will not exceed the low estimate for the lot. 7.The term signed and/or dated and/or inscribed means that in our opinion the signature and/or date and/or inscription are from the hand of the artist. Jurisdiction - For the benefit of Sotheby’s, all Bidders and Sellers agree that the Hong Kong Courts are to have exclusive jurisdiction to settle all disputes arising in connection with all aspects of all matters or transactions to which these Conditions of Business for Buyers (Online Only) relate or apply. Sotheby’s is entitled to deduct from the reimbursement the amount of any loss in value of the Lot which is caused as a result of unnecessary handling by you. 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. This may result in Lots closing out of numerical order. (i) A Bidder may cancel a bid placed in an Online Only Auction only if either (A) the description of the Lot or the condition report for the Lot listed in the e-catalogue has been materially revised after the bid was placed; or (B) a notice regarding the Lot has been posted on Sotheby’s website after the bid was placed. Regarding diamonds, Sotheby’s shares the concerns expressed by the United Nations Security Council with respect to uncut diamonds potentially coming from Angola and Sierra Leone. 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 not believing the gemstones or pearls to be genuine or of natural origin, specifying the lot number, date of the auction at which it was purchased; and. to divide or combine any Lots. Certain online images of the Lot may not accurately reflect the actual condition of the Lot. With viewing beginning 31 March at the Hong Kong Convention & Exhibition Centre, these glittering treasures will be on full display in advance of the auction … You accept and agree that a bid is submitted using the ‘Continue to Confirm Bid’ button and increased bids are submitted as set out in (d) below. . If you haven’t already registered as a Verified Accountholder, you will be prompted to do so at that point. The amount of the Buyer’s Premium and Overhead Premium is set out in the Guide to Buying in an Online Only Auction set out above. The Online Sale Information includes the online catalogue description of the Lot; any online condition report provided in relation to the Lot by Sotheby's solely as a convenience (and the online images of the Lot shall be deemed to form part of any such condition report); any other information relating to the Lot or the conduct of the Online Only Auction which is published on the Online Only Platform (including this Guide to Buying in an Online Only Auction). (a) Sotheby’s knowledge in relation to each Lot is partially dependent on information provided to it by the Seller, and Sotheby’s is not able to and does not carry out exhaustive due diligence on each Lot. All dimensions are approximate. And just as they did at Christie’s, colorful stones also made an impact for Sotheby’s in 2018, most notably the Ai Diamond, a 5-carat fancy vivid blue diamond ring that garnered $13.8 million in Hong Kong in early October. The rare rock – described as being "the size of a lollipop" will go under the hammer through auction house Sotheby's in Hong Kong on October 5, with online bidding open from September 15. In certain instances, interested parties may have knowledge of the reserves. This means that a contract for sale has been formed between the Seller and the successful Bidder when the Lot closes. 從2020年8月1日起,蘇富比的全球拍賣及所有網上拍賣將加收營運附加費。本費用將按落槌價的1%及加上任何適用地方稅項收取;本費用將用於營運支出,以及維持在競爭激烈的藝術市場中,提供優質服務及豐富經驗所需的高昂成本。本費用與買家酬金不包括地方稅項及任何適用之藝術家轉售權費用。, GUIDE TO BUYING IN AN ONLINE ONLY AUCTION. 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. (a) If you are a successful Buyer of a Lot, you will receive by email an invoice from Sotheby’s as soon as reasonably practicable after the final Lot in the relevant Online Only Auction closes.

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