Lot #878 Lot # 878: Thangka Tapestry and Display Case

Terms & Conditions

These Terms and Conditions of Sale (“Conditions”) set out the agreement between the Bidder/Buyer and Prop Store and the Seller. By registering to bid and participate in a Prop Store Auction, you will be deemed to have read and agreed to be bound by these Conditions and the accompanying Buyer’s Guide, as set forth in the catalog for the Auction and online at www.propstore.com.

In the event of any conflict between the Conditions and the Buyer’s Guide, the Conditions shall take precedence.

1. Definitions

When the following capitalized words or terms are used in these Conditions, they shall mean:

2. Catalog Descriptions and Conditions of Lots

1. All Lots are sold subject to their condition at the date of the Auction. The nature and age of the Lots mean they are often unique and are likely to have wear and tear, damage and other imperfections.  By making a bid, the Bidder accepts the actual condition of the Lot and acknowledges that if a bid is successful, the Buyer will buy the Lot “as is”.

2.2. Prop Store’s staff are not professional restorers so descriptions of Lots, images and statements of condition in Prop Store’s catalog or on its website are for illustrative purposes only. Prop Store cannot guarantee that colors are properly shown. Save for Prop Store’s Terms of Guarantee of Attribution, all Lots are sold “as is”. Bidders are encouraged to inspect Lots and satisfy themselves as to their condition before bidding, seeking and obtaining independent professional advice where required.

2.3. Condition reports are available for each Lot upon request.

3. Before the Auction
   1. Bidder Registration

1. Every person or Company wishing to make a bid in the Auction is required to register with Prop Store before participating at an Auction.
2. To register, each person or Company must complete and return a bidder registration form available in this Buyer’s Guide or online at www.propstore. com, which must include a valid Visa, MasterCard or American Express credit card details to be held on file.
3. Each Company registering to bid must provide a certified copy or original articles of incorporation, articles of organization, or other documents satisfactory to Prop Store – contact Prop Store at +1 818 727 7829 for confirmation of what will be acceptable;

3.1.4 Any person seeking to participate in the Auction as an agent on behalf of a registered principal must complete and submit an Agent Information Form, and provide an up-to-date, valid government-issued photo identification (e.g., passport, driver’s license), as well as a written authorization from the principal confirming the agent’s authority to participate at the Auction on the principal’s behalf.

3.1.5 Prop Store will hold all personal information provided by the Bidder at registration and the Bidder agrees and consents to such information being used by Prop Store to:

1. Ship Lots purchased at Auction to the Buyer;

3.1.5.2Process the Buyer’s payment;

3.1.5.3. Conduct credit checks, as deemed necessary by Prop Store in its sole discretion; and/or

3.1.5.4. Inform the Bidder about other auctions, products and services provided by Prop Store and its affiliates (please contact Prop Store by

email at enquiries@propstore.com or by phone +1 818 727 7829 if you do not wish for your information to be used for such a purpose).

3.1.7. By participating in and/or attending the Auction and signing the registration form, each Bidder consents to be filmed and/or photographed and agrees and authorizes Prop Store to use and publish such film and/or photographs and likeness for use in (1) providing online access to the Auction,

(2) recording the results of the Auction, (3) print, digital, online and all other media for marketing purposes (including without limitation, on Prop Store’s website, YouTube and other online platforms) and (4) in any other Prop Store publications of whatever nature. The Bidder releases Prop Store and holds it harmless from any reasonable expectation of confidentiality or privacy associated with such images and releases Prop Store and any third parties involved in the making, creation or publication of the images or any marketing or other materials derived therefrom from all

and any liability for claims made in respect of such publication. Publication of the images in whatever format confers no right of ownership on the individual or right to royalties or payment.

3.2.Pre-Auction Viewing

1. During the Pre-Auction Viewing period, as set forth in the Auction catalog, any Bidder may preview Lots with Prop Store. Viewing by appointment may also be possible outside of the Pre-Auction Viewing period.

3.3.Delivery Costs

1. At Bidder’s request, without any liability therefor, Prop Store can provide shipping estimates before the Auction. Any Bidder requesting this

information should email support@propstore.com including the Lot number and shipping address at least 3 days before the start of the Auction. Real-time shipping estimates are also available on many lots through the online bidding platform. Bidders should be aware that oversize lots may be expensive to ship and inquire for a quote before bidding on these items. Winning bids are legally binding and must be paid regardless of final shipping expenses.

3.4.Bidders Outside the US.

1. If the Bidder is located outside the United States, it is the Bidder’s sole responsibility and obligation to ensure in advance of the Auction that any Lot purchased in the Auction can be exported from the United States and imported into the country of destination. No sale will be canceled because the Lot may not be imported into the country of destination. PackAir Airfreight, Inc., a third-party independent freight vendor, can advise Bidders on relevant export licensing regulations and may submit export license applications upon request. Neither Prop Store nor PackAir Freight, Inc. can guarantee that any licenses, permits or consents will be granted, and shall have no liability arising out of or relating thereto.

4.At the Auction

 Estimates

4.1.1.

Estimates represent Prop Store’s guide to Bidders and do not give any indication or representation of actual values or likely bids. Estimates do not include any Buyer’s Premium or sales tax.

4.1.2.

Prop Store reserves the right to amend its estimates from time to time.

4.2 Reserve Price

4.2.1

The majority of lots in this auction are sold with no Reserve Price; certain lots are sold with Reserve Price. The Reserve Price is the minimum price the Seller will accept for a Lot. The Reserve Price may be more than the lowest estimate given by Prop Store. Prop Store may disclose or keep confidential the Reserve Price at its entire discretion.

4.1Bidding Process

1. Prop Store reserves the right to refuse admission and/or participation at the Auction and to reject any bid.
2. Bids may not be accepted from unregistered bidders and all Bidders must be 18 or over.  All bids must be made in US dollars.

4.2.3. When making a bid, every Bidder acknowledges that such bid is a binding offer to buy the Lot at that price (plus the Buyer’s Premium,all applicable taxes, and any and all shipping charges, storage fees and/or other costs).

1. All bids are by individual Lot unless the auctioneer states to the contrary during the live Auction. Lots will usually be sold in their numbered sequence, unless the auctioneer announces otherwise at the Auction.
2. The auctioneer may accept bids from Bidders present in the sale room, via telephone, or via online at the time of the Auction. The auctioneer may also accept proxy or absentee bids delivered to Prop Store before the start of the Auction. Proxy or absentee bids must be submitted either by using the form in the Buyer’s Guide or the online form at www.propstore.com. Proxy or absentee bids will be executed at the lowest possible price. If Prop Store receives proxy or absentee bids on a particular Lot for identical maximum bids, and at the Auction these are the highest bids on the Lot, it will be sold to the Bidder whose written bid was first received by Prop Store.
3. Any Bidder wishing to place bids at the time of the Auction via telephone must provide to Prop Store a list of Lots on which they intend to bid at least 24 hours before the start of the Auction.
4. In addition to Prop Store’s Conditions, any Bidder placing bids online must comply with the terms for use of the online auction platform access provider.
5. Except as expressly stated in the Buyer’s Guide or the Conditions, Prop Store shall have no liability arising out of or related to any errors or omission

in respect of bids made online, by telephone or by proxy.

4.2.9. The Auction will be tracked on a video or digital screen, which may display, among other things, a photograph of the Lot offered for sale and the then-current bid. Bidders understand and agree that errors may occur in its operation and, except as expressly stated in the Buyer’s Guide or these Conditions, Prop Store shall have no liability arising out of or related to any errors or omission in respect thereto.

4.3Auctioneer's Authority

1. The auctioneer has the right to exercise reasonable discretion in refusing any bid, advancing the bidding in such a manner as he or she may decide, dividing any Lot, combining any two or more Lots and, in the case of error or dispute, and whether during or after the sale, determining the successful Buyer, continuing the bidding, cancelling the sale or reoffering and reselling the Lot in dispute. If any dispute arises after the sale, then, in the absence of any evidence to the contrary the sale record maintained by the auctioneer will be conclusive.
2. The auctioneer shall have sole discretion to accept or decline any bid.

4.3.3. Subject to the auctioneer’s reasonable discretion, the Bidder placing the highest bid accepted by the auctioneer will be the Buyer and the striking of his hammer marks the acceptance of the highest bid and the conclusion of a contract for sale between the Seller and the Buyer. Each Bidder understands and agrees that Prop Store, as auctioneer, is not a party to any contract for sale that results from the Auction. Risk and responsibility for the Lot (including frames or glass where relevant) passes to the Buyer upon the fall of the hammer and the Buyer should arrange insurance cover for the Lot if required.

5.After the Auction

1. Payment by Buyer

1. Prop Store will notify the Buyer and send (by email unless requested otherwise) a payment invoice setting out the Purchase Price and itemizing the Hammer Price, the Buyer’s Premium, plus any applicable sales tax, within 7 business days of the end of the Auction. For all sales within California, sales tax at the prevailing rate (currently 9.5%) will be applied to the Purchase Price. For all sales within Washington state, sales tax at the prevailing rate (currently 6.5%) will be applied to the Purchase Price. For all sales within Illinois, sales tax at the prevailing rate (currently 6.25%) will be applied to the Purchase Price. Delivery addresses outside California, Washington, or Illinois will be exempt from sales tax. 5.1.2. Payment of the invoice is due within 7 business days from receipt of the invoice and must be made by the Buyer. Payments from any other source will not be accepted and shall be returned by Prop Store.
2. Payment plans may be available in increments of up to 3 months. Buyers wishing to utilize the payment plan service, if approved by Prop Store, shall be required to pay a deposit of 20% of the Purchase Price (the “Deposit”), within 7 calendar days of being invoiced.  The balance of the Purchase Price shall then be split over 1, 2 or 3 months, at the Buyer’s option. The payments of the remaining balance shall be made as follows:
   1. If the 1-month payment plan is selected, the balance of the Purchase Price shall be due within 30 days of the close of the Auction.
   2. If the 2-month payment plan is selected:  40% of the Purchase Price shall be due within 30 days of the close of the Auction; 40% of the balance of the Purchase Price shall be due within 60 days of the close of the Auction.
   3. If the 3-month payment plan is selected:  26.66% of the Purchase Price shall be due within 30 days of the close of the Auction; 26.66% of the balance of the Purchase Price shall be due within 60 days of the close of the Auction; and 26.68% due within 90 days of the close of the Auction.

1. Prop Store offers no grace period on payment plan deadlines. If the Buyer does not adhere to payment deadline as set forth above, the Buyer shall be deemed to be in default. In the event of default all funds already paid to Prop Store shall be retained by Prop Store as liquidated damages. Moreover, Prop Store and/or the Seller shall also be entitled to any other remedies available, whether in law or equity.
2. No title to any Property shall pass to the Buyer except upon payment in full of the Purchase Price, and any and all other sums due to Prop Store and/or the Seller, even in circumstances where Prop Store has released the Lot to the Buyer. Among other remedies available to Prop Store and the Seller for failure to render full payment of the Purchase Price, Prop Store and/or the Seller shall be entitled to immediate possession of the Lot purchased by the Buyer, if delivered to the Buyer.
3. Prop Store vouchers and other discount codes are not valid as payment for auction items.

5.1.7. Only the memorabilia item(s) shown in the photos of a given product listing is included in the sale.  Mannequins, display stands, and scale measures

are not included with your purchase, unless expressly stated in the product description.

1. The Buyer agrees that Prop Store will charge the credit card provided at registration for all items purchased at auction, and any future Prop Store auctions in which the Buyer participates if not paid within 7 calendar days after invoicing.
2. The Buyer shall be charged in US Dollars for the Purchase Price. For all sales within California, sales tax at the prevailing rate (currently 9.5%) will be applied to the Purchase Price.  Delivery addresses outside California will be exempt from sales tax.
3. Payment must be in US dollars and may be made by electronic transfer, debit card, credit card (up to a maximum of $25,000), bankers draft or check (drawn on a US bank account – note check clearance can take between 5 and 10 working days), or cash (up to a maximum of $5,000). Please quote the Lot number, invoice number and Bidder registration number when making payment to ensure it can be processed as efficiently as possible.
4. If payment is made by credit card, the Buyer expressly agrees that such payment is nonrefundable nor may be credited to any other purchase, and that the Buyer will not undertake any action or effort to stop payment, seek a refund, or attempt a charge back of such amounts by the issuer of the credit card.

5.2Default by Buyer

1. Failure to timely make payment of any amounts due to Prop Store and/or the Seller shall constitute an event of Default by the Buyer. In the event of Default for nonpayment, Prop Store may charge interest on the unpaid amount at the rate of 5% a year above the base lending rate of Bank of America from time to time. The base lending rate shall be the average lending rate of Bank of America for the 6 months preceding the date of default. If such interest rate exceeds the legal rate permitted by law, then the maximum legal rate permitted by law shall apply. This interest shall accrue on a daily basis from the due date until the date of actual payment of the overdue amount. The Buyer must pay Prop Store interest together with any overdue amount.
2. If any applicable conditions herein are not complied with (to a material extent), the Buyer will be in Default and in addition to any and all other remedies available to Prop Store by law, including, without limitation, the right to hold the Buyer liable for the total Purchase Price, including all fees, charges and expenses more fully set forth herein, and as set forth in paragraph 4.2(a) herein, Prop Store, at its option and to the extent permitted by law, may (i) cancel the sale of that, or any other items sold to the defaulting Buyer, retaining as liquidated damages all payments made by the Buyer, (ii) resell the purchased item, or (iii) effect any combination thereof. In any case, the Buyer shall be liable for any deficiency, any and all costs, handling charges, late charges, expenses of both sales, legal fees and expenses, collection fees and incidental damages.

5.2.3. Prop Store may, in its sole discretion, apply any proceeds of sale then due or thereafter becoming due to the Buyer from Prop Store or any affiliated company, or any payment made by the Buyer to Prop Store or any affiliated company, where or not intended to reduce the Buyer’s obligations with respect to the unpaid item or items, to the deficiency and any other amounts due to Prop Store or any affiliated companies. In addition, a defaulting Buyer will be deemed to have granted and assigned to Prop Store and its affiliated companies, a continuing security interest of first priority in any property or money owing to such Buyer in our possession or in the possession of any of its affiliated companies, and Prop Store may retain and apply such property or money as collateral security for the obligations due to Prop Store or to any affiliated company.  Payment will not be deemed to have been made in full until Prop Store has collected good funds.

1. Prop Store may further reject at any future auction any bids made by or on behalf of the Buyer or to require a deposit from the Buyer before accepting any further bids;
2. Prop Store may take such other action as Prop Store deems necessary or appropriate.
3. At its option, Prop Store may pay the Seller the entirety of the balance due from the Buyer. If Prop Store pays such amount to the Seller, the Buyer acknowledges and agrees that Prop Store shall have all of the rights of the Seller against the Buyer.
4. Prop Store shall be entitled to retain Lots sold until all amounts due have been received in full in good cleared funds or until the Buyer has performed any other outstanding obligations as Prop Store shall reasonably require.

5.3Shipping and Storage

1. The Buyer is solely responsible for all shipping, handling, and delivery costs. Prop Store can help you arrange packing and shipping through FedEx for smaller items or PackAir AirFreight, Inc. for larger items, or you can use your own licensed carrier, approved by Prop Store. Please contact Prop Store at +1 818-727-7829 or supportLA@propstore.com for further details. Prop Store does not warranty the Lots against and shall have no liability for any damage that any Lot may incur or suffer during the shipping or delivery process.
2. After 14 days after close of Auction, if the Buyer has not made arrangements for and paid the shipping cost of the Lots purchased, or has otherwise failed to collect the Lots, a storage fee of 3% of the Hammer Price per month shall be charged to the Buyer. If the Buyer has failed to pay the Purchase Price and the cost of shipping and handling, Prop Store, at its option may cancel the sale.
3. It is the Buyer’s sole obligation and responsibility to be aware of, to comply with, and to pay for all relevant import duties, taxes, VAT, customs and other fees charged in the area of delivery. Prop Store will ship all packages with the full value of the Lot declared. The Buyer understands and agrees that Prop Store shall have no obligation or responsibility for any import duties, taxes, VAT, customs, shipping or other charges for the Lots shipped. Failure by the Buyer to pay all necessary amounts may result in the relevant authorities returning the Lot to Prop Store and in those circumstances the Buyer will be charged and will pay storage cost and Prop Store’s additional reasonable costs and expenses.
4. It is further the Buyer’s sole obligation and responsibility to ensure that any Lot purchased from Prop Store enters the shipping location lawfully, that all duties and taxes have been paid and that all required export procedures, regulations, and laws were properly complied with.  The Buyer understands and agrees that Prop Store shall have no obligation or responsibility for complying with any export procedures, regulations, or laws applicable to the Lot.
5. Unless otherwise agreed by Prop Store in writing, the fact that the Buyer wishes to apply for an export license does not affect or postpone the Buyer’s obligation to make payment in accordance with Prop Store’s payment terms nor Prop Store’s right to charge interest or storage charges on late payment.  Prop Store shall not be obligated to rescind or cancel a sale nor to refund any monies paid by the Buyer to Prop Store as a result of or related to the Buyer’s failure or inability to obtain an export license.
6. Should the Buyer make own arrangements with third parties for shipping, handling, or delivery of any Lots, Prop Store shall have and accepts no liability or responsibility for the acts or omissions of any such third parties.  Similarly, where Prop Store suggests other handlers, packers or carriers,