Each lot, at the fall of the hammer, will be at the risk of the purchaser and will be taken away at the purchaser's risk and expense on the day of the sale unless prior arrangements have been made with the auctioneers (see clause 12).

This right is limited to the buyer and may not be assigned. However, if within seven days of the sale of any lot, the buyer gives notice in writing to the auctioneers that the lot sold is a вЂњforgeryвЂќ *, and if within fourteen days of giving such notice the buyer returns the lot in the same condition as it was at the time of the sale to the premises of the auctioneers and there is shown, to the satisfaction of the auctioneers, that having regard to the catalogue description the lot sold is a вЂњforgeryвЂќ, the auctioneers are authorised to, and will, rescind the sale and refund the purchase price received by them.

All lots are sold as shown, with all faults, imperfections and errors of description.

Each purchaser, by making a bid for a lot, is deemed to have knowledge of all the Conditions of Sale and to have satisfied themselves as to the physical condition and accuracy of the description of the lot, including, but not restricted to, whether the lot is damaged or has been repaired.

Ample opportunity is given for inspection.

The Auctioneers reserve the right in forming their opinion, to consult and rely on any expert or authority considered by them to be reliable. All such statements are statements of opinion and are not to be taken as being, or implying, warranties, guarantees or representations of fact.

The auctioneers accept no responsibility for the accuracy of any statement, whether printed in the catalogue, published on the internet or made orally, as to grading, authorship, attribution, genuineness, origin, date, age, provenance and/or condition.

The auctioneers may only re-offer if a bidder contests a matter immediately, and before the offering of the next lot. If during the auction the auctioneer considers that a dispute has arisen he has absolute discretion to settle the dispute or re-offer the lot. The auctioneer may, at his sole discretion, determine the advance of the bidding or refuse a bid.

The highest bidder shall be the buyer.

At his discretion, the auctioneer may bid on behalf of the vendor for all goods which are being offered, subject to reserve or otherwise.

Any instructions given to the Auctioneers over the telephone, by fax or through the internet by vendors or prospective buyers are accepted at the vendors or prospective buyers risk and must, in any event, be confirmed in writing.

The Auctioneers, Gilding`s Ltd., have absolute discretion to divide any lot, to combine any two or more lots or to withdraw any lot from the sale, to refuse bids, regulate bidding or to cancel the sale without in any case giving any reason, or without any previous notice.

Vendors are reminded that the VendorвЂ™s Conditions of Sale and Terms of Agreement are incorporated into GildingвЂ™s Ltd.

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