Auction rules of pacific international auction co., ltd.

Auction rules of pacific international auction co., ltd.

general rule

Article 1: These Rules are formulated in accordance with the Auction Law of People's Republic of China (PRC) (hereinafter referred to as the Auction Law), relevant laws and regulations and the Articles of Association, and with reference to the general practice of international auctions.

Article 2: The auction activities of the company will be organized within the scope defined by the above-mentioned laws, articles of association and these rules, and the principles of openness, fairness and impartiality will be followed to safeguard the interests of the state and the parties concerned.

Article 3: The parties involved in the auction activities of our company shall carefully read the terms listed in these Rules and be responsible for their actions in the auction activities accordingly.

Article 4 The company has the right to explain and handle matters not covered in these rules according to the provisions of these rules. The legal issues involved shall be handled in accordance with the laws of People's Republic of China (PRC) (China).

Article 5 Disputes arising from the implementation of these Rules, if negotiation fails, can be settled through litigation or arbitration.

Provisions on auctioneers

Article 6 The company has the right to ask the trustor to explain the source and defects of the auction target.

Article 7 The company has the right to decide whether the auction target is suitable for the company's auction, the auction time, the auction place, the auction conditions, the auction method and the statement of the contents of the auction target.

Article 8 Oral or written statements on the author, year, size, texture, mounting, source, authenticity, preservation and valuation of the auction target are all reference opinions in the exhibition, publication or publication catalogue and announcement of the auction target. If the company declares before the auction that it can't guarantee the authenticity or quality of the auction target, it won't bear the liability of defect guarantee.

Article 9 Auctioneers whose exit is restricted according to the Law of People's Republic of China (PRC) on the Protection of Cultural Relics and relevant regulations will be marked with "*" in the catalogue.

Article 10 If the auction target is damaged or lost at its own risk, the company shall pay corresponding compensation to the client or the buyer according to the specific circumstances. If the auction target is not sold, the maximum compensation shall not exceed100% of the reserve price; If the auction target has been sold, the maximum compensation shall not exceed100% of the transaction price; The maximum compensation amount of the auction target without reserve price shall be agreed in writing by both parties. Commissions and other expenses shall be deducted from the above compensation. Our company is not responsible for the damage or loss of the auction target caused by force majeure or other special circumstances (such as insect bites).

Article 11 A company may evaluate the auction target according to its needs. When the appraisal conclusion is inconsistent with the auction target specified in the entrusted auction contract, the company has the right to request to change or terminate the contract.

Article 12 The company has the right to determine the starting price of the auction target and the reference price in the catalogue.

Article 13 The company has the right to decide any explanation or evaluation of the auction target.

Article 14: The Company has the right to determine the amount of expenses related to the printing of the catalogue of the auction target paid by the client.

Article 15 The company, as the intermediary agent of the client and the bidder, has the obligation to provide services for both parties, but is not responsible for any breach of contract or illegal behavior of the client and the bidder.

Article 16: The company has the right to refuse persons who are not suitable for auction activities to enter the auction site.

Article 17: The Company has the right to raise or reject the bidding price in the auction according to regulations, and has the right to cancel, split or merge the auction target. In case of any dispute, it may withdraw the auction target and re-auction.

Article 18: The company has the right to decide the currency of auction and payment.

Provisions on customers

Entrust auction step

1. Guarantee and compensation

Article 19 When entrusting our company to auction, the client is obliged to provide legal personal identification or business license, and sign an auction entrustment contract with our company. If the entrusted agent handles the entrusted auction procedures on his behalf, he shall also submit a power of attorney to the company.

Article 20 The trustor shall assure the Company in writing that it has complete ownership or disposition right to the auction target, and does not involve any creditor's rights to the auction target, and is obliged to provide relevant supporting documents on its own initiative.

Article 21 The trustor has the obligation to provide the company with all relevant information about the auction target, and fully and truly express the source and defects of the auction target to the company in written form.

Article 22: If the customer violates the above Article 19, Article 20 and Article 21, he shall bear the legal responsibility for all disputes arising therefrom, including but not limited to compensation for the reputation loss and economic loss caused to the company and the buyer.

Twenty-third clients shall not participate in the bidding of auction targets entrusted by them, nor shall they entrust others to bid on their behalf.

Article 24 If the trustor violates the above Article 23, not only can he not get the auction proceeds, but the trustor or his agent must also pay the company a penalty of 20% of the transaction price.

Twenty-fifth after the auction of some auction targets is completed, if both parties need to go through the formalities of property right transfer, the client shall assist the buyer to go through the formalities of property right transfer of auction targets.

2. Auction reserve price

Article 26: The auction reserve price of the auction target shall be determined in writing through consultation between the client and the Company, and its change shall be revised in writing through renegotiation by both parties before the auction date 15, and both parties shall keep the agreed auction reserve price confidential. In the auction, the company has the right to sell the auction target at a price lower than the auction reserve price, but the client can still get the auction proceeds due when selling at the auction reserve price.

3. Commissions and fees

Article 27: Unless otherwise agreed between the client and the Company, the client shall pay the Company a commission of 65,438+00% of the transaction price of the completed auction target and other accrued expenses; For the auction target that has not been sold, the client shall pay 3% of the auction reserve price to the company as a service fee, and at the same time pay other withholding fees.

4. Insurance

Article 28: Unless otherwise instructed by the client, all auction targets shall be insured by the company, and the expenses shall be paid by the client. The insurance amount is subject to the reserve price determined by the customer. This insurance amount is only applicable to insurance claims, and it is not the guarantee or recognition of the auction value by our company.

Article 29 The insurance period shall be from the date when the company receives the auction target entrusted to it to the date when the buyer takes the auction target away. If the auction target cannot be sold, the insurance period shall terminate at the expiration of the entrustment period agreed by both parties.

Article 30 If the client notifies the Company in writing that there is no need to insure the auction target, the risk shall be borne by the client and the following responsibilities shall be borne at any time:

(1) No claim shall be made to the company for the loss or damage of the auction target. If the buyer makes a claim against the company, no matter what the nature of the loss or damage is, when, under what circumstances and how it happened, even if the loss or damage is caused by negligence, the customer shall bear all the compensation responsibilities;

(2) To compensate the Company for the losses and expenses incurred due to the above circumstances.

Article 31 If the client notifies the Company in writing that there is no need to insure the auction target, the corresponding risks shall be borne by the client himself, and he shall be fully responsible for the damage and loss of the auction target under any circumstances.

Article 32: Our company will not be responsible for the damage of the auction target and the frame glass caused by moth, weather change and other reasons. The damage, loss and compensation of other insured auction targets shall be handled in accordance with the relevant rules of the insurance agreement. When the insurance claims are successful, the company will pay the balance after deducting the accrued expenses from the insurance claims to the client.

Article 33: The Company shall not be responsible for all losses caused by external irresistible disasters.

5. Payment of auction proceeds

Article 34 If the buyer pays the full price to the company in time and the circumstances mentioned in Article 56 do not occur, the company is obliged to pay the auction proceeds to the client in RMB within 35 days after the auction date.

Article 35 If the company has paid the money equivalent to the auction proceeds to the client before the buyer has paid the full price, the ownership of the auction target belongs to the company.

Article 36: If the buyer still fails to pay the transaction price to the company within 65,438+0 months from the auction date, the company will take appropriate measures to assist the client to collect the transaction price from the buyer according to the client's requirements and if the company thinks it is feasible, including bringing a lawsuit against the buyer in its own name, but the litigation expenses shall be borne by the client.

6. Withdrawal of the auction target

Article 37 The trustor may withdraw the auction target at any time before the auction begins. However, if the catalogue or other publications of the auction target have been printed, the client shall pay 20% of the auction base price of the auction target and other withholding fees to the company; If the directory and so on. If it has not been printed, the auction reserve price 10% and other withholding fees shall be paid.

7. The auction of the auction target failed.

Article 38 If the auction target fails to be closed within the entrustment period agreed by both parties, the trustor shall take back the auction target by himself and pay a service fee of 3% of the auction reserve price. If the client fails to retrieve it within the time limit, he shall pay a storage fee of 2‰ of the auction floor price every day. Since the overdue date, the client must also bear the responsibility for the damage or loss of the auction target due to unexpected reasons. If it has not been collected for more than two months, the company has the right to sell the auction target by open auction without reserve price or other sales methods under the conditions that the company thinks fit, and deduct the commission payable to the client and other accrued expenses from the transaction income, and pay the balance to the client.

Article 39 If the auction target fails to be auctioned, the trustor may request the company to auction again. At this time, both parties must re-determine the auction reserve price and re-sign the auction entrustment contract.

Article 40 If the trustor fails to retrieve the auction target within the time limit stipulated in the contract, the trustor shall bear all the responsibilities for the damage and loss of the auction target thereafter. The risks and expenses in the process of the client requesting the company to assist in returning its auction target shall be borne by the client. Generally speaking, insurance is not insured in transit unless the principal specially designates and is responsible for the insurance cost.

Provisions on Bidders and Buyers

bidding requirements

1. About the bidder

Article 41 Before the auction, the bidder shall fill in and sign the bidder registration form with his/her ID card, passport or other valid documents, receive the bidding number plate, pay the deposit and obtain the bidding right.

Forty-second bidders can participate in the bidding by themselves or entrust agents to participate in the bidding. Unless it is proved in writing in advance that the bidder is the agent, the company will regard him as the bidder himself.

Forty-third bidders enter the auction site, that is, they accept and agree to abide by the terms of these auction rules.

Forty-fourth bidders raise the number plate in the auction, which means that they accept the price of the auction target at this time.

Article 45: No matter how much the bidder bids, it shall be responsible for its own bid. Once our company is recognized as the highest bidder, it shall not go back on its word and sign the transaction confirmation on the spot, otherwise it shall bear legal responsibility.

Forty-sixth bidders have the right to know the defects of the auction target, can obtain the introduction materials such as the catalogue of the auction target for compensation, and have the right to check the auction target during the auction display.

2. Catalogue of auction targets

Article 47 The catalogue of auction targets and related explanatory materials printed by our company are not official publications, but only used as auction announcements and introductions of auction targets.

Article 48 The catalogue of auction targets mainly provides a reference text description and picture information for the author, origin, age, size, material, ownership, preservation and estimated selling price of the auction targets, and does not indicate the guarantee of the quality and authenticity of the auction targets and the auction reserve price.

Article 49: If there is any discrepancy between the tone and level of the catalogue works and the original works due to printing or photography, the original works shall prevail.

Article 50 The Company and its employees or agents shall introduce and evaluate the auction targets in any way (including but not limited to catalogues, slides, projections, news reports, etc.). ) are all reference opinions and do not constitute any guarantee for the auction target. Bidders should carefully check the original auction before the auction. Bidders shall not make a return or cancel the transaction after the transaction because they do not fully understand the auction target.

3. Entrust bidding

Article 51 A bidder or his agent shall participate in the auction in person. If you can't attend, you can entrust our company to bid on your behalf in writing. Our company and related staff are not responsible for the possible mistakes and negligence in the process of entrusted bidding.

Article 52: If a bidder wants to entrust our company, he shall sign an entrustment bidding agency agreement with our company 3 days before the auction starts, and remit 30% of the highest entrustment price of the auction target to our company as the entrustment deposit, and the rest shall be paid within 7 days after the successful bidding. If the Japanese company does not receive the entrustment deposit, the signed entrustment bidding agency agreement will automatically become invalid.

Article 53 A bidder may bid by telephone during the auction after being entrusted in writing and paying the deposit entrusted by the company.

Article 54 If two or more entrusted bidders have the same entrusted price for the same auction target, the first entrusted bidding agency agreement signed with our company is valid.

Article 55: If our company fails to close the transaction on behalf of the bidder within the maximum entrusted price, we will return the entrusted deposit to the client in full within 10 days after the auction date, and we will not charge any service fee for this.

4. About canceling the transaction

Article 56 If the following conditions are met within 30 days from the auction date, the Company considers that the authenticity of the auction target is disputed, agrees to cancel the transaction and refund the buyer:

(1). The company received a written notice from the buyer, pointing out that the auction target was a fake;

(2) The auction target received by the company remains the same as the auction date;

(3) The buyer issues a written appraisal opinion to the company from two or more national appraisal experts with corresponding specialties that the auction target is a fake;

(four) the buyer has complete ownership of the auction target, and has not set any creditor's rights or security interests on the auction target;

(5) The auction target is indeed sold by our company.

Article 57 In any of the following circumstances, the buyer has no right to request the company to cancel the transaction:

The description of the auction target in the 1. directory conforms to the opinions generally accepted by relevant experts at that time, which clearly indicates that the experts' appraisal opinions on the auction target are controversial;

2. Only a certain scientific method can prove that the auction target is a fake, and this scientific method was not widely used until after the auction; Or it can only be proved that the auction target is a fake by a certain method, and the use fee of this method is expensive, unrealistic or may cause damage to the auction target;

3. The original buyer's ownership of the subject matter has been transferred or does not hold the original purchase invoice.

Article 58: Our company's refund to the buyer shall be made after the client returns all the auction proceeds to our company, and the amount shall be limited to the original transaction price and commission paid by the buyer.

5. Commission

Article 59 If a bidder succeeds in bidding, it shall pay the company a commission of 10% of the transaction price of the auction target and other accrued expenses.

6. Payment and collection of auction targets

Article 60 Once the auction target is determined, the buyer must pay the full amount before he can get the goods. For an auction target with a transaction price of more than RMB 30,000, the buyer shall pay 30% of the transaction price in advance as a deposit, and the rest shall be paid in one lump sum within 7 days from the auction date before taking away the auction target. If the balance is not paid after 7 days, the auction target can be regarded as unsold and the deposit will not be returned to the buyer.

Article 61 The buyer shall pay by cash, credit card or cheque in the currency specified in the catalogue of auction targets. If the buyer pays in other currencies, it shall be converted according to the exchange rate of 1 published by Bank of China before the auction, and the bank charges incurred shall be borne by the buyer.

Article 62 After the buyer has paid the transaction price and other prepaid expenses in full on schedule (within 7 days), he shall obtain the ownership of the auction target within 7 days from the auction date. The buyer shall bear the handling, storage and insurance expenses caused by not taking away the auction target within 7 days, and the responsibility for damage and loss during the storage period shall also be borne by the buyer.

Article 63 Our company is not responsible for handling the auction target, but only provides simple packaging service when necessary, and the buyer can repackage it according to his own wishes after receiving it. Our company is not responsible for any loss caused by the packaging recommended to the buyer and the shipping company.

Article 64 If the buyer fails to pay on time, the company has the right to take the following measures:

1. Ask the buyer to compensate the company for all losses (including interest losses caused by the buyer's late payment or refusal to pay) caused by its breach of contract, and the losses shall be calculated at the loan interest rate of the People's Bank of China for the same period;

2. Cancel all transactions between the company and the buyer, and temporarily detain all auction targets sold to it until the buyer performs the signed agreement and the provisions of these Rules, and all expenses incurred during this period shall be paid by the buyer;

3. Resale the auction target through public auction or other means. All expenses incurred and the difference between the original auction price and the original auction price shall be paid by the defaulting buyer.