What are the rules of art auction? Thank you very much

Chapter I General Provisions Article 1: Formulation of Rules These rules are formulated in accordance with the auction law of People's Republic of China (PRC), the law on the protection of cultural relics of People's Republic of China (PRC), the contract law of People's Republic of China (PRC) and other relevant laws and regulations and the articles of association of the company, with reference to international practices. Article 2: Scope of Application The Company organizes and conducts auction activities within the scope permitted by the laws and policies of People's Republic of China (PRC). All clients, bidders, buyers and other relevant parties who participate in the auction activities of cultural relics, artworks and other collectibles organized and implemented by our company shall abide by these rules. Article 3: Special reminder: in the auction activities held by our company, our company generally acts as the agent of the principal. When the auctioneer or other public means confirm the highest bid of the bidder, it means that the sales contract between the principal and the bidder has taken legal effect and the bidder has become the buyer of the subject matter. The legal consequences arising therefrom shall be borne by the client and the buyer respectively. The provisions of these rules constitute the corresponding clauses of the contract signed by the company as an auctioneer with the client and the buyer. The provisions of these rules also constitute the corresponding provisions of the sales contract concluded between the client and the buyer on the subject matter. Article 4: Warranty for Defects The Company shall not be liable for warranty for defects in the authenticity and/or quality of the subject matter. The bidder and/or its agent shall personally check the original subject matter. Bidders and/or their agents shall bear legal responsibility for a certain subject matter of their bidding. Chapter II Provisions on the Target Article 5: The company's introduction of authenticity, author, place of origin, labeling, age, size, texture, mounting, attribution, place of origin, defects, evaluation price or artistic value of each batch in the target catalogue and/or other forms of video products and promotional materials is for reference and does not constitute any guarantee for the target. Article 6: If the tone, color, level and shape of the uncertainty in the Catalogue and/or any other forms of illustrations, video products and promotional materials are different from the original, the original shall prevail. The introduction and evaluation of any subject by our company, its employees or agents in any way (including certificates, catalogues, slide projectors, news carriers, etc.). ) are all reference opinions and do not constitute any guarantee for the subject. Article 7: The reserve price shall be determined in writing by the company through consultation with customers. Once both parties determine the quantity of the reserved price, the change must be agreed by the other party in advance. Article 8 After the consignor delivers the auction target to the auctioneer, if the consignor requests to take out insurance for the auction target, the auctioneer shall take out insurance on his behalf, and the relevant insurance expenses shall be borne by the consignor. Article 9: Custody fee If the subject matter cannot be insured, the client may pay our company 1% of the reserve price of the auction subject matter or the amount of the custody fee agreed by both parties as the custody fee, and our company shall assume the custody responsibility from the date of receiving the custody fee. If the customer refuses to insure or pay the storage fee, the company will not be responsible for any damage or loss of the subject matter. The deposit amount shall be subject to the reserved price determined by the company and the client in the entrusted auction contract (if there is no reserved price, the deposit amount agreed upon in the subject matter shall prevail; If the auction reserve price is adjusted, the original reserve price of the subject matter shall prevail). The deposit amount is not a guarantee or guarantee for the value of the subject matter, and the company has the right to sell the subject matter at a price lower than the deposit amount without reserve price. Article 10 During the storage period, if the subject matter is auctioned off, the storage period shall end on the seventh day from the auction closing date or the date when the buyer receives the subject matter, whichever comes first. If the auction of the subject matter is not completed, the storage period shall expire seven days from the date when the client receives the notice from the company to reclaim the subject matter. Article 11 The Principal arranges insurance. If the Principal notifies the Company in writing that the subject matter does not need insurance or does not pay the storage fee, the risk shall be borne by the Principal himself, and he shall bear the following responsibilities at any time (unless otherwise ruled by the court or arbitration institution): (1) Compensation for any claim or lawsuit filed against the Company for the damage or loss of the subject matter; (2) compensate the company and/or any other party for all losses and expenses caused by the damage or loss of the subject matter for any reason; (3) Inform any insurer of the subject matter of the compensation clause mentioned in this article. Article 12: Storage is caused by natural wear and tear, inherent defects, inherent or potential defects, changes in the material itself, spontaneous combustion, self-heating, oxidation, corrosion, leakage, rat bites, moth-eaten, atmospheric changes (climate or temperature), humidity or temperature changes, normal water level changes or other gradual changes, earthquakes, tsunamis, wars, similar acts of war, hostile acts, armed conflicts, terrorist activities, etc. Our company is not responsible for any damage or loss of the subject matter caused by nuclear weapons, nuclear materials, nuclear radiation and radioactive pollution, or damage or loss of book frames or glass, boxes, bottom mats, brackets, mounting, book inserts, rotating shafts or similar accessories caused by any reason. Article 13: If the subject matter insured is damaged or lost due to events or disasters within the company's insurance coverage, the insurance compensation shall be handled in accordance with People's Republic of China (PRC) Insurance Law. After the company claims from the insurance company and obtains the insurance compensation, it will pay the balance of the insurance compensation after deducting the company's expenses (except the commission) to the customer. Article 14: After the unsuccessful client signs an entrusted auction contract with our company and delivers the tender to our company, if our company thinks that a tender is not suitable for our auction for any reason, the client shall take back the tender within 30 days from the date when our company issues the notice (the packaging and handling expenses shall be borne by itself), and the entrusted auction contract between our company and the client shall be terminated from the date when the client receives the tender. If the client fails to take away the subject matter within the above time limit, the entrusted auction contract between the company and the client will be terminated at the expiration of the above time limit. Article 15: The packaging and handling of purchased goods by our employees at the request of the buyer is only regarded as the service provided by our company to the buyer. Our company can decide whether to provide this service at its own discretion, and the buyer shall bear any losses arising therefrom. In any case, our company is not responsible for the damage of glass or frame, capsule, bottom pad, bracket, mounting, book insertion, shaft head or similar accessories caused by any reason. In addition, the company will not be responsible for all errors, omissions, damages or losses caused by the packaging company and transportation company recommended by the company to the buyer. Article 16: According to the Law of People's Republic of China (PRC) on the Protection of Cultural Relics and other laws and regulations, it is forbidden to take the subject matter out of People's Republic of China (PRC), and the company will explain the subject matter in the catalogue or at the auction site; If the subject matter is allowed to be taken out of People's Republic of China (PRC), the buyer shall go through the exit formalities by himself in accordance with relevant state regulations. Chapter III Provisions on Clients Article 17: When entrusting our company to auction its articles, if it is a natural person, it shall hold a valid identity card or passport or other valid identity documents recognized by the China government, and sign an auction contract with our company; If it is a legal person or other organization, it shall sign an auction contract with the company with valid registration documents, legal representative's identity certificate or legal authorization certificate. If an agent entrusts the company to auction items, it shall also issue relevant entrustment documents to the company. Customers entrust our company to auction their goods, that is, they automatically authorize our company to make photos, charts, catalogues or other forms of video products for the goods. Article 18: Warranty of the Principal The Principal irrevocably warrants to the Company and the Buyer that (1) it has complete and legal right to dispose of the subject matter; (2) It has made a comprehensive and detailed disclosure and explanation of the source and defects of the subject matter to the best of its knowledge, and there is no concealment or fiction; (3) If the breach of the above guarantee causes the actual owner of the subject matter or any third party claiming rights to file a claim or lawsuit, thus causing losses to the company and/or the buyer, the client shall be responsible for compensating all the losses suffered by the company and/or the buyer, and bear all the expenses and expenses arising therefrom. Article 19: If the subject matter fails to be closed, the customer shall take back the subject matter (packaging and handling fees shall be borne by himself) within 30 days from the date of receiving the notice from our company, and pay the unpaid handling fees and other expenses to our company. If the customer requests our company to assist in the return of the subject matter, the risks and expenses of the return shall be borne by the customer. Unless the insurance premium is specially stipulated and borne, it is generally not insured during transportation. Article 20: Unless otherwise agreed between the client and the company, if the bid price of a target is lower than the reserved price and the transaction fails, the client authorizes the company to charge it an undiscounted handling fee calculated at 3% of the reserved price and other fees. Article 21 If the auction is suspended under any of the following circumstances, the company has the right to suspend the auction of any target at any time before the actual auction: (1) The company has any objection to the ownership or authenticity of the target; (2) The third party has any objection to the ownership or authenticity of the subject matter, can provide relevant evidence materials on which the objection is based, and pay the deposit according to the regulations of the Company, and is willing to bear corresponding responsibilities for the legal consequences and all losses caused by the suspension of auction activities; (3) Objecting to the accuracy of the customer's explanation or customer's guarantee as stipulated in Article 18 of these Rules. (4) There is evidence that the client has violated or will violate any provision of these Rules; (5) There are other reasonable reasons. Article 22 If the client withdraws the target at any time before the auction date, the client may send a written notice to the company, explain the reasons and withdraw the target with the consent of the company. However, when the subject matter is withdrawn, if the catalogue or other publicity materials contained in the subject matter have started printing, 20% of the insured amount of the subject matter and other expenses shall be paid. If you don't print the catalogue or any other publicity materials, you need to pay 10% of the insured amount of the subject matter. Any dispute or claim arising from the withdrawal of the subject matter by the client shall be borne by the client and has nothing to do with the company. Article 23: Commissions and expenses Unless otherwise agreed between the customer and the company, the customer authorizes the company to deduct the commission and other expenses of 10% of the transaction price at the same time. Although the company is the principal's agent, the principal agrees that the company can collect remuneration and other expenses from the buyer according to the provisions of Article 36 of these Rules. Article 24 Payment of Auction Money If the buyer pays the whole price to the Company in accordance with the provisions of Article 36 of these Rules, the Company shall pay the auction money to the client in RMB within 35 days after the auction transaction date. If the payment period stipulated in Article 36 of these Rules expires and the company has not received the full payment from the buyer, the company will pay the auction proceeds to the client within seven working days from the date of receiving the full payment from the buyer. If the auction proceeds obtained by the client should be taxed by the government, the client shall be responsible for handling and bearing the corresponding taxes. Article 25: Assist in the collection of arrears. If the buyer fails to pay all the payment to the company within seven days from the auction deadline, the company has the right to recover the payable remuneration and other expenses from the buyer according to the provisions of Article 41 of these Rules, and take appropriate measures to assist the customer to recover the arrears from the buyer at the request of the customer if the company considers it feasible, but the company does not bring a lawsuit against the buyer on behalf of the customer. Chapter IV Provisions on Bidders and Buyers Article 26: Bidders are required to carefully examine the original materials before the auction, including hiring experts to identify whether the subject matter conforms to its description, and should not rely on the company to make decisions on the catalogue of the subject matter, other forms of video products and promotional materials. Once a bidder makes a bidding decision, it shows that the bidder has accepted all the status quo and possible defects of the auction target. If the bidder wins the bid and signs the confirmation letter, the bidder shall not return or refuse to pay for it for any reason. Article 27 If the registered bidder is a natural person, the bidder shall fill in and sign the registration documents with a valid ID card or passport or other valid identity documents recognized by People's Republic of China (PRC) before the auction; If the bidder is a legal person or other organization, it shall fill in and sign the registration documents with valid registration documents, legal representative's identity certificate or legal authorization procedures before the auction, and obtain the bidding number plate, otherwise it will not be regarded as a formal bidder. Article 28: Bidders with security deposit shall pay the security deposit before receiving the bidding number plate when participating in the auction activities of our company. The specific amount of the deposit shall be announced by the company before the auction date. Within five working days after the auction, if the bidder fails to purchase the target, it will be returned to the bidder in full without interest; If the bidder buys the target, it will be used as a deposit. If there is any balance, it will be returned when the bidder receives the bid. Article 29: When bidding as a party, unless the bidder issues a written certificate to our company before the auction date and is recognized by our company in writing, each bidder shall be regarded as the bidder himself. Thirtieth bidders should participate in the auction in person. If you can't attend, you can entrust our company to bid on your behalf in writing. The company has the right to decide whether to accept the above entrustment. Article 31: Entrustment procedures and cancellation of entrusting our company to bid shall be completed within the specified time (not later than 24 hours before the auction date), and a written bid authorization letter shall be issued to our company, and a deposit shall be paid. If it is necessary to cancel the authorization after entrusting the company to bid, it shall notify the company in writing no later than 24 hours before the auction date. Article 32: Exemption from entrusted bidding: Agency bidding is a free service provided by our company for bidders who cannot participate in on-site bidding due to special circumstances. Our company and its staff are not responsible for unsuccessful or negligent bidding, negligence or failure to bid on behalf of the agency. If the bidder wants to ensure the success of the bid, he should participate in the bid in person. Article 33: Principle of Pre-entrustment If two or more bidders entrust our company to bid successfully for the same target at the same entrustment price, our company will get the power of attorney as the buyer of the target first. Article 34 An auctioneer has the right to decide on the spot. On behalf of the company, the auctioneer has the right to raise or lower the bidding ladder, reject any bidding, and re-auction the subject matter in case of dispute. Article 35: Image display board and currency exchange display board For the convenience of bidders, our company can use image projection or other display boards in the auction, and the displayed contents are for reference only. There may be errors in the amount, target number, target picture or reference foreign exchange amount displayed on image projection or other forms of exhibition boards, and the company is not responsible for any losses caused by these errors. Article 36: Remuneration and Expenses The Buyer shall pay the Company the remuneration equivalent to 10% of the transaction price, and shall also pay other expenses, and acknowledge that the Company may charge the customers commissions and other expenses according to the provisions of Article 23 of these Rules. Article 37: Time of Payment After the auction is completed, the buyer shall pay the price and auction commission in one lump sum within seven days from the date of auction, and receive the subject matter (packaging and loading and unloading expenses shall be borne by himself), otherwise, he shall bear the liability for breach of contract. Article 38: All payments shall be made in the currency designated by the company. If the buyer pays in a currency other than the currency specified by the company, it shall be converted according to the exchange rate agreed between the buyer and the company or the exchange rate between RMB and the currency published by the People's Bank of China on the working day before the buyer's payment date. All bank charges, commissions or other expenses incurred by our company in converting the foreign currency paid by the buyer into RMB shall be borne by the buyer. Article 39 Transfer of Ownership The buyer may acquire the ownership of the subject matter after paying the full price. Article 40 After winning the bid for risk transfer, in any of the following circumstances (whichever comes first), the risk of the subject matter shall be borne by the buyer: (1) The buyer receives the purchased subject matter; Or (2) the buyer pays the company the full purchase price of the relevant subject matter; Or (3) due within seven days from the auction closing date. Article 41? The buyer who receives the target must receive the purchased target within seven days from the end of the auction. If the buyer fails to collect the target within seven days from the auction closing date, the buyer shall bear the handling fee, storage fee and insurance premium for the overdue collection of the target, and the buyer shall be fully responsible for the purchased target. Even if the subject matter is still kept by our company or other agents, our company and its staff or its agents are not responsible for the damage or loss of the subject matter for any reason. Article 42 Treatment Measures for Unpaid Payment If the buyer fails to pay in full within the time specified in Article 37 of these Rules, the Company has the right to take one or more of the following measures: (1) The deposit will not be refunded. At the same time, it shall also bear corresponding responsibilities in accordance with the provisions of these rules; (2) Our company has the right to provide all or part of the buyer's data and information to a third-party organization that has a cooperative relationship with our company, and entrust this organization to urge the buyer to pay all or part of the purchase price on its behalf; (3) Unless otherwise agreed between the buyer and our company, from the eighth day after the auction transaction date to the date when the buyer pays off all the money, our company will charge interest on the unpaid part of the buyer at the rate of three ten thousandths per day; (4) Keep this or any other item auctioned by our company to the same buyer, and any other property or property right of the buyer occupied by our company for any reason. All expenses and/or risks incurred during the retention period shall be borne by the buyer. If the buyer fails to fulfill all its relevant obligations within the time specified by the company, the company has the right to dispose of the retained property according to the relevant laws and regulations of People's Republic of China (PRC). If the proceeds from the disposal of the retained property are not enough to compensate the buyer for all the money payable to the company, the company has the right to pursue it separately; (5) Cancel the transaction of this or any other subject matter sold to the same buyer in the same or any other auction, and reserve the right to recover the losses suffered due to the cancellation of this transaction; (6) With the consent of the client, the Company may auction the subject matter again or sell it in other ways in accordance with these Rules. The original buyer shall not only pay the remuneration/commission and other expenses that should be paid by the buyer and the client for the first auction, but also bear all the expenses of auctioning or selling the subject matter in other ways. If the price of the subject matter auctioned or sold by other means is lower than the original auction price, the original buyer shall make up the difference. Article 43: Measures for delaying the collection of the subject matter: If the client and the buyer fail to collect the subject matter within the time stipulated in Articles 14, 19 and 41 of these Detailed Rules, the client shall bear all risks and expenses after the expiration of the time stipulated in the above articles. The Company has the right to dispose of the subject matter in any of the following ways: 1, and charge a storage fee of one thousandth of the reserved price of the subject matter. 2. Dispose of the subject matter in a way that our company considers reasonable. After deducting all the expenses incurred by our company, if there is any balance, the customer will take it back by himself. 3. The subject matter shall be deposited by the notary office, and the deposit fee shall be borne by the entrusting party. Chapter V Other Article 44: A copyright company has the right to make its own photos, illustrations, catalogues or other forms of video products for any items auctioned by its clients, and enjoy the copyright of the above photos, illustrations, catalogues or other forms of video products according to law, and have the right to use them according to law. Article 45: Exemption from Liability As the principal's agent, our company is not responsible for any breach of contract by the principal or the buyer. Article 46: Notifying bidders and customers should inform our company of their fixed and effective mailing address and contact information, and notify our company in writing immediately if there is any change. The notice mentioned in these auction rules only refers to the written notice sent by letter or fax. If it is mailed, once the notice is delivered to the postal department, it will be deemed that the company has sent the notice, and at the same time, it will be deemed that the recipient has received the notice according to normal postal procedures. If it is sent by fax, the date when the fax is sent shall be the date when the addressee receives the notice. Article 47 Settlement of Disputes Disputes arising from participation in the auction activities of the Company in accordance with these Rules shall be brought to the people's court where the auctioneer is located. The applicable law to solve these disputes shall be the law of People's Republic of China (PRC). Article 48: Language Text These Rules are written in Chinese, and the English text is for reference only. If there is any inconsistency between the Chinese version and the English version, the Chinese version shall prevail. Article 49 Interpretation of Nouns In the terminology of these Rules, the following words have the following meanings: (1) "Our company" refers to Beijing Zhao Zhong International Auction Co., Ltd.; (2) "Reference price" refers to the estimated selling price of the subject matter indicated after the subject matter catalogue or other introductory words. The reference price is estimated earlier before the auction date, not a fixed price, and may be adjusted. (3) "Auction date" refers to the date when the Company announces the official start of auction transactions in the auction activities. If the published start date is inconsistent with the actual start date of the auction, the actual start date of the auction shall prevail; (4) "Auction closing date" refers to the date when the auctioneer confirms that any target has been closed by dropping a hammer or other public means; (5) "Transaction price" refers to the price at which the auctioneer decides to sell the target to the buyer by gavel or other public means; (6) "Auction income" refers to the net amount paid to customers, that is, the balance of the transaction price after deducting the proportional commission, various fees and other payments that customers should pay to the Company; (7) "Purchase price" refers to the sum of the transaction price, all remuneration, other expenses payable by the buyer and all expenses payable due to the buyer's failure to perform its obligations; (8) "Various expenses" refers to the expenses charged by the company for the insurance of the subject matter, the production, packaging, transportation and storage of the catalogue of the subject matter and other forms of publicity materials, and other expenses charged according to the provisions of relevant laws, regulations or these Detailed Rules.