Artam Antik A.S.

Artam Antik A.S.

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AUCTION TERMS AND CONDITIONS

Buyers participating in auctions we organize as Artam Antik ve Sanatsal Eserler Müzayede Organizasyonları Tic. A.Ş. accept the terms and conditions listed below in advance. (Note to terms used: A “lot” refers to any item or set of items on sale at the auction and described in the Catalogue under one lot number.)

1. All items selected for sale are inspected as called upon by the Cultural and Natural Entities law (2863) by experts from the Ethnography Museum in Ankara, the Archaeology Museum in Izmir, the Topkapı Palace Museum, Istanbul Archaeology Museum, the Haghia Sofia Museum and the Museum of Islamic Arts and the Military Museum in Istanbul. Items encompassed by the law and thus requiring documents are granted certifications.

2. Items placed in the auction are displayed prior to sale. Thus, auction participants are assumed to have already seen and inspected the lots in the auction. All information expressed in the catalogue and
in the scope of publicity are opinions limited to experts. As such the expressions declare that all items are placed on sale “as is”, that the buyer has carefully examined and investigated the sold item beforehand
and prior to any retainer and that the participant accepts and declares his/her waiver of provisions stated by the 198th clause of the liabilities and obligations law. Not all items are required to state “as is” in accompanying text. All information and any sort of advertisement or publicity about any lot bears no commitment and is only provided for general information. The buyer accepts this situation in
advance. Artam Antik A.Ş. has no obligation to act as guarantor for sold items. The buyer will not make any request or objection about the subject to the firm Artam Antik A.Ş. in the future.

3. Bids to raise the price at the auction are made by explicitly raising a flag. The buyer is bound by the offer he or she makes by raising his/her flag. In no circumstance can the buyer express nullity of the auction. The bidding increment for an item at the auction may commence within twenty percent or lower of the item’s appraised value. Guests who have not registered at the entrance of the auction and have not received flag numbers may not participate in the bidding. Bids made after the auctioneer’s “soo..old” (“saat...tım”) words, along with the ringing of the Bell, will under no circumstances be taken into consideration.

4. Invoices are issued for all items purchased. Invoices are prepared on a computer according to the flag number and its owner’s name (Please do not use flags belonging to others and do return your flag to our company personnel after the auction has finalized).

5. The cost of items bought are paid in cash. The buyer must claim in the lot in 7 (seven) days by paying the entire cost of the sale’s worth, V.A.T. and 7% auction house commission (+ V.A.T.). Regular buyers from our auctions may make purchases by signature and the “Antik Clup Kart”. Items bought with personal cheques will be delivered after the cheque is processed. Deniz Bank Shop&Miles and Bonus Card credit cards are accepted for those wishing to make payments within 3 (three) days. Persons wishing to benefit from diplomatic exception must present their blue cards during payment. Items are not submitted during the period in which the auction is still being held.

6. In the case that the entire worth of the bought item is not paid for, Artam Antik A.Ş. is authorized to suspend the proceeds of the sale and collect the entirety of damages suffered along with commercial interest, and a monthly interest rate of 15% starting on the invoice date. Artam Antik A.Ş. reserves its miscellaneous case and solicitation rights. The item will not be delivered to the buyer before the
entire expenses endured during and for the preservation of the item from the date of invoiced sale until the cost noted on the invoice is collected.

7. Artam Antik A.Ş. is not responsible or accountable for any article or item’s tardy delivery to an Auction participant due to errors, address changes, late arrival at address or delays at the P.T.T. (Turkish Post Office) as a result of notifications or changes made to full address and other contact information stated in the participants’s Auction participation form via mail, facsimile, e-mail or telephone.

8. Buyers wishing to participate in the auction via telephone or reserve a lot beforehand are required to sign our company’s “Reserve Agreement”. For more detailed information, please call our company
(90 212.236.24 60). Participations via telephone are subject to voice recording.

9. In case an item placed on sale within the auction does not possess its declared properties, or an item does not fit the description of its original declaration, or has changed ownership against the will of the rightful owner, all legal responsibilities belong to the person offering the sale.

10. Our company reserves the right to withdraw, combine, separate or deny the sale of any item or items in the auction.

11. Our company reserves the right to deny auction hall entrance or bidding to persons found to be possessed by suspicious state or demeanor, and without reason.

12. In accordance with law 4208, proof of identification for auction participants buying an item for 12.000 TL (twelve thousand) or higher is required.

13. The auction occurs as an open auction. Bidding and participating in the auction means having accepted the conditions and terms in their entirety and having accepted all rights and obligations belonging to our establishment (No objection regarding any sort of flaw in an time may be made after a sale has occured). Notary observations are recorded during our auction.

14. In case of typesetting or printing errors in the Catalogue, announcements during the auction will be taken into account.

15. Any text or visual material belonging in the Catalogue may not be partially or wholly published without written permission from Artam Antik A.Ş.

16. All participants who take a flag number with proof of identification and sign an entry form will be assumed to have read and accepted the aforementioned terms and conditions in advance.

17. The value of items put on sale at the auction are not the actual values of the items but the auction starting price.

18. Artam Antik A.Ş. will not be responsible or accountable for possible new laws, law amendments and changes to tax rates that occur after the printing of the Catalogue; such changes will be reflected upon the buyers.

19. The Istanbul Courts of Justice and Claims Courts are authorized to deal with conflicts and disputes with the Auction Terms and Conditions.

20. About the shares that are paid to the artists, beneficiaries, Artam Antik A.Ş. reserves its rights to return to the owner according to the 45th article of the 5846 numbered law and 27.09.2006 dated, 2006/10880 numbered Cabinet Council verdict, at the circumstances of obeying the documantary order.

Artam Antik A.S.

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