That’s not a sum to be sneezing at for 310 lots sold, with a sell-through rate of 84.2 percent. This is, however, a matter for our discretion and we are under no duty to carry out such consultation, inquiries or tests. (c)  The seller acknowledges and agrees that if the buyer is an online consumer and the seller is an online trader and the online consumer exercises the cancellation right in accordance with these Conditions of Business, Sotheby’s shall be entitled to seek reimbursement of any standard delivery charges which Sotheby’s is required to reimburse to the online buyer in accordance with these Conditions of Business. Any proceeds of sale shall be remitted to you in the currency in which the auction is conducted and all local taxes shall apply. Photo – Sotheby’s. Any notice sent to us shall be sent to 2 Rue François-Diday, 1204 Geneva. Sotheby’s suggests that buyers check with their own government regarding wildlife import requirements prior to placing a 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. RM Sotheby's estimates that this 507 will bring between $2,070,000 and $2,400,000 on auction day. Editorial team. Where ‘Sotheby’s’ sells as agent, any sale will result in a contract made directly between the ‘seller’ and the ‘buyer’. • It is Sotheby’s policy to request any new clients or new buyers preferring to make Swiss Franc (CHF) 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. To participate in this sale please call the Bids Department. However, buyers must export their purchases from Switzerland no later than thirty (30) days after collection. (ii)             re-offer the lot for sale at public auction with a reserve no less than fifty per cent (50%) of the original reserve. 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). The ‘seller’s commission’ shall in these circumstances be calculated as if the lot had sold at the reserve price. Further information and guidance as to the application of such taxes is provided in the 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. register. The room was enthusiastic and highly animated throughout the sale, with many results commanding applause and standing ovations from the audience. (d) Without prejudice to Conditions 6 and 7 above, Sotheby's and the Seller make no representations or warranties as to whether any lot is or is not subject to export or import restrictions or any embargoes. (d) No representations or warranties are made by Sotheby's or the seller as to whether any lot is subject to copyright or whether the buyer acquires copyright in any lot. Among the three auction houses, Sotheby’s and Phillips appeared to have been taken a milder hit. The auctioneer clinched the title of most expensive watch sold at auction in Asia when it sold a Patek Philippe ref. 27. If we or the ‘buyer’ consider any of the warranties listed below to be breached in any way, either we or the ‘buyer’ may take legal action against you. Please be advised that straps made of material derived from endangered or otherwise protected species (i.e. You authorise ‘Sotheby’s’ to charge the ‘buyer’ and retain a ‘buyer’s premium’ and ‘overhead premium’. Sotheby’s and any third parties providing a guarantee jointly with Sotheby’s benefit financially if a guaranteed lot is sold successfully and may incur a loss if the sale is not successful. This auction will be conducted online with live online bidding alongside telephone & absentee bids. The buyer's premium and overhead premium are added to the hammer price and are included as part of the total purchase price payable by the successful bidder. If this Online-Only Auction has a printed and/or PDF catalogue and the interested party’s possible participation in the sale is not known until after such catalogue is finalised, the symbol will be included on the Lot’s specific webpage and a notice will be added to the Sotheby’s webpage for the auction. Please refer to Condition 12 of the Conditions of Business for further details regarding payment of a purchased lot. 2915-1 in the sale, with the other having a lower estimate in keeping with its condition. (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. • Cheques: should be made payable to Sotheby’s. The Guarantee is provided for a period of twenty one (21) days after the closing date of the relevant online only auction, is solely for the benefit of the ‘buyer’ and may not be transferred to any third party. The registration process requires that you submit your request to open a verified account no later than 24 hours prior to the closing of the first lot in the relevant online only auction in which you wish to bid (you will also be required to provide certain information to Sotheby’s as part of the application process) to create a verified account, please follow the registration instructions provided at: (c) If you have already set up a verified account, you can sign into the applicable online only auction using your existing username and password. Despite what their estimates forecasted, both watches blew past previous records for Simplicities sold at auction, and … Personal details: If we so request, each of the ‘buyer’, the ‘seller’ and any bidder at auction agree to provide (in a form acceptable to us) written confirmation of their name, permanent address, proof of identity and creditworthiness. Any reference in these Conditions of Business to the closing date of the online only auction shall be treated as being a reference to the date of the post-auction sale. Preferred Access. Search prices realized and auction results on any of our previous RM Sotheby's collector car auctions. Our Watch sales offer you the opportunity to explore and buy a broad range of timepieces from the earliest verge pocket watches, right through to modern high-end wristwatches from the best marques in the world and everything in between. 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 ‘Leave Bid’ button which appears at lot level on the online only platform. 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. DUTIES OF BIDDERS AND BUYERS IN RESPECT OF ITEMS FOR SALE. Introductory commissions: We reserve the right to pay out of our remuneration a fee to any third party introducing clients or property to us. 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. For the avoidance of doubt, we shall have the benefit of all of your representations, warranties and indemnities set out in these Conditions of Business. Post Auction Results & Thoughts from Sotheby’s Autumn London Watches Auction. ‘Sotheby’s’ has discretion to waive any of the above requirements. Our presale estimates reflect this assumption. RM Sotheby’s presented the exceptional Elkhart Collection in a live auction held in Elkhart, Indiana, grossing a total of $44,385,420 in sales. Bidding at the sale: The seller may not bid or instruct or permit any other person to bid via the online only platform on its behalf for its own property in the relevant online only auction. Sale Results. 13 June 2013. In such instances, the compensation Sotheby’s will pay the irrevocable bidder is allocated to the lots for which the irrevocable bidder is not the successful purchaser. Severability: In the event that any provisions of these Conditions of Business should be held unenforceable for any reason, the remaining conditions shall remain in full force and effect. YOU AGREE THAT ANY FUTURE DEALINGS WHICH YOU MAY HAVE WITH SOTHEBY’S SHALL BE ON THE CONDITIONS OF BUSINESS CURRENT AT THAT PARTICULAR TIME. In those circumstances, any sale shall be conducted under the Conditions of Business applicable to the relevant sale, save only that, as between you and us, these Conditions of Business shall continue to apply and shall prevail in the event of any conflict. Payment may also be made by Visa, MasterCard and non-Swiss debit cards subject to a 1.2% surcharge and by American Express and CUP (in person at our Sotheby’s Geneva premises) subject to a 1.75% surcharge. View information on collector car auction dates, schedule details, event info, how to register to bid, how to consign, or how to buy tickets for RM Sotheby's. 44. The timing and the content of any announcement regarding the withdrawal shall be in Sotheby’s sole discretion. We also wanted to embrace the collectors’ increased confidence to buy high-value pieces online,” says Sam Hines, worldwide head of Sotheby’s Watches. 4 talking about this. (f) Sotheby’s reserves the right to deactivate your verified account at any time prior to, during, or after an online only auction. 46. Model form of cancellation – sale of goods/provision of services. Under such circumstances, the total compensation to the irrevocable bidder will not exceed the total buyer’s premium, overhead premium and other amounts paid to Sotheby’s in respect of any lots for which the irrevocable bidder is not the successful bidder. (d) Sotheby’s will make the reimbursement to the online consumer using the same method of payment as the online consumer used for the initial transaction, unless expressly agreed otherwise. You agree to indemnify ‘Sotheby’s’ and any ‘Sotheby’s affiliated company’, their respective servants, directors, officers and employees and the ‘buyer’ against any loss or damage resulting from any breach or alleged breach of any of your representations or warranties, or other terms set forth in these Conditions of Business. 20 (a). Seller’s warranties: This Condition governs your relationship with both the ‘buyer’ and ourselves. register. (ii)             No act, failure to act or partial act by ‘Sotheby’s’ shall be deemed a waiver of any of its rights hereunder. We shall notify you of any lien being exercised and the amount outstanding. However, these Conditions of Business shall be binding on any of your successors, assigns, trustees, executors, administrators and representatives. All successful registrations for this sale will show under the ‘Auctions’ section of ‘MyAccount’. Please refer to the VAT and other Tax Information for Buyers section above for further information regarding VAT. Export/import and embargoes: No representations or warranties are made by ‘Sotheby’s’ or the ‘seller’ as to whether any lot is subject to any export restrictions from Switzerland or any import restrictions of any other country. Inflation-adjusted prices are also listed for reference. Errors may occur in the currency converter and you should not rely on it as a substitute for the Swiss francs bidding. 22. Service of process: All ‘buyers’ and ‘sellers’ irrevocably consent to service of process or any other documents in connection with proceedings in any Court by facsimile transmission, personal service, delivery at the last address known to us or any other usual address, mail or in any other manner permitted by Swiss law, the law of the place of service or the law of the jurisdiction where proceedings are instituted. 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