British & European Paintings | 24th May 2017 | 11am

Page 1

Wednesday, 24th May, 2017 33 Broughton Place Edinburgh

British & European Paintings

British & European Paintings Wednesday, 24th May, 2017 at 11am Sale Number LT490

Viewing Times Sunday, 21st May 12–4pm Monday, 22nd May 10am–5pm Tuesday, 23rd May 10am–5pm Morning of the sale from 9am

Enquiries Lyon & Turnbull Ltd. 33 Broughton Place Edinburgh EH1 3RR Tel. 0131 557 8844 Fax. 0131 557 8668 Email. info@lyonandturnbull.com www.lyonandturnbull.com

Catalogue: £15

Front Cover Lot 26 (detail) Inside Front Cover Lot 41 (detail) Inside Back Cover Lot 33 (detail)

Buyer’s Guide This sale is subject to our standard Conditions of Sale (available at the back of every catalogue and on our website). If you have not bought at auction before we will be delighted to advise you.

Buyer’s Premium & 2WKHUb&KDUJHV The buyer shall pay the hammer price together with a premium, at the following rate, thereon. 25% up to £100,000/20% thereafter. VAT will be charged on the premium at the rate imposed by law (see our Conditions of Sale). Additional VAT † VAT at the standard rate payable at the standard rate on the hammer price * 5% import VAT payable on the hammer price No VAT is payable on the hammer price or premium for books bought at auction. Droit de Suite § indicates works which may be subject to the Droit de Suite or Artist’s Resale Right, a royalty payment for all qualifying works of art. Under new OHJLVODWLRQ ZKLFK FDPH LQWR H΍HFW RQ VW January 2012, this applies to living artists and artists who have died in the last 70 years. This royalty will be charged to the buyer on the hammer price and in addition to the buyer’s premium. It will not apply to works where the hammer price is less than €1,000 (euros). The charge for works of art sold at and above €1,000 (euros) and below €50,000 (euros) is 4%. For items selling above €50,000 (euros), charges are calculated on a sliding scale. More information on Droit de Suite is available at www.dacs.org.uk

Registration

Catalogue descriptions

All potential buyers must register prior to placing a bid. Registration information may be submitted in person at our registration desk, by email, by fax or on our website. Please note that DOO ȴUVW WLPH ELGGHUV DW /\RQ 7XUQEXOO will be asked to supply the following documents in order to facilitate registration:

All item descriptions, dimensions and estimates are provided for guidance only. It is the buyer’s responsibility to inspect all lots prior to bidding to ensure that the condition is to their satisfaction. If potential buyers are unable to inspect lots in person (public viewing times listed in every catalogue), our specialists will be happy to prepare detailed condition reports and additional images. These are for guidance only and all lots are sold ‘as found’, as per our Conditions of Sale.

1 – Government issued photo ID (Passport/ Driving licence) 2 – Proof of address (utility bill/bank statement). We may, at our option, also ask you to provide a bank reference and/ or deposit. By registering for the sale, the buyer acknowledges that he or she has read, understood and accepted our Conditions of Sale (available at the back of every catalogue and on our website).

Bidding & Payment For information on bidding options see our Guide to Bidding & Payment at the back of the catalogue.

Removal of Purchases Responsibility for packing, shipping and insurance shall be exclusively that of the purchaser.

Import/Export Prospective buyers are advised that several countries prohibit the importation of property containing materials from endangered species, including but not limited to; rhino horn, ivory, coral and tortoiseshell. Accordingly, prospective buyers should familiarise themselves with all relevant customs regulations prior to bidding if they intend to import lots to another country. It is the buyer’s sole responsibility to obtain any relevant export or import licence. The denial of any licence or any delay in obtaining licences shall neither justify the recession of any sale nor any delay in making full payment for the lot. Endangered Species Please be aware that lots marked with the symbol Y contain material which may be subject to CITES regulations when exporting outside the EU. For more information visit http://www.defra.gov.uk/ahvla-en/ imports-exports/cites

Meet the Specialists At Lyon & Turnbull we want to make buying at auction as easy and enjoyable as possible. Our specialist team are on hand to assist you, whether you are looking for something in particular for your home or collection, require more detailed information about the history or current condition RI D ORW RU MXVW ZDQW WR Č´QG RXW PRUH DERXW WKH DXFWLRQ SURFHVV

Iain Gale

iain.gale@lyonandturnbull.com

Nick Curnow

nick.curnow@lyonandturnbull.com

Charlotte Riordan

charlotte.riordan@lyonandturnbull.com

Carly Shearer

carly.shearer@lyonandturnbull.com

How to Find Us in Edinburgh

Lyon & Turnbull Saleroom

P

Parking Multi-storey car parking is available at *UHHQVLGH 3ODFH D Č´YH PLQXWH ZDON IURP WKHbVDOHURRP York Place Tram Stop Waverley Station

4É…/\RQ 7XUQEXOO

1 WILLIAM WESTALL A.R.A. %5Ζ7Ζ6+b

A VIEW OF EDINBURGH WITH THE CASTLE AND ARTHUR’S SEAT Signed, oil on canvas FPb[b FP LQb[b LQ

e

2 ROBERT HOPE R.S.A. %5Ζ7Ζ6+b

EDINBURGH CASTLE FROM PRINCES STREET GARDENS Signed, oil on panel FPb[b FP LQb[b LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…

CHARLES PETTIT %5Ζ7Ζ6+b$&7Ζ9(

JEDBURGH ABBEY Signed and inscribed on reverse, oil on canvas FPb[b FP LQb[b LQ

e

4 JOHN BUXTON KNIGHT %5Ζ7Ζ6+b

THE TWEED AT KELSO Oil on canvas FPb[b FP LQb[b LQ

e

É…/\RQ 7XUQEXOO Provenance: The Rt Hon Lord Stanley of Alderley Leger Galleries 1967

EDWARD DAYES %5Ζ7Ζ6+b

ROCKS ON THE SHORE OF THE BAY AT SCAPA Signed and inscribed on the mount, pencil and watercolour

Note: The landscapes and wildlife of Orkney and Shetland have long been a magnetic draw for British artists. Among the early topographical painters were artists such as Edward Dayes, ZKR GUHZ GLUHFWO\ IURP QDWXUH DQG LV EHVW NQRZQ IRU KLV LQČľXHQFH RQ WKH young Turner. Subsequent British Victorian genre painters such as Elias Bancroft were less interested in geology and raw nature than in the life of the Shetland islanders, LQ ZKLFK WKH\ IRXQG D GLÎ?HUHQW IRUP RI 5RPDQWLFLVP In the summer of 1885 Glasgow Boys James Guthrie and Arthur Melville travelled together to Orkney, probably to stay with the Clouston family of wealthy merchants, and produced some memorable works and a few years afterwards, the Edinburgh artist James Kinnear began to paint extensively on 2UNQH\ DV LV VKRZQ LQ WKH WZR TXLQWHVVHQWLDO ZRUNV RQ RÎ?HU KHUH It was only natural that Sir John Everett Millais’s son Johnny (J.G.) would travel to the far north, in his case the Shetlands, in his endless pursuit of the wildlife of Britain, a fascination which he shared with his contemporary George Edward Lodge. The fact that the Royal Navy was based in Scapa Flow during the Great War provided yet another incentive for other artists including John Lavery and the still underrated Muirhead Bone. And surely the most famous home grown Orcadian artist must be Stanley Cursiter, later Director of the National Galleries of Scotland and Painter in Scotland to the King.

FPb[b FP LQb[b LQ

e

[§] ALFRED DE BREANSKI JUNIOR %5Ζ7Ζ6+b

HILLS OF ARGYLL Signed, signed and inscribed on reverse, oil on canvas FPb[b FP LQb[b LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…7

7 [§] ALFRED DE BREANSKI JUNIOR %5Ζ7Ζ6+b

THE SLOPES OF BEN VENUE, N.B. Signed, signed inscribed and dated ‘...xi’ on reverse, oil on canvas FPb[b FP LQb[b LQ

e

[§] ALFRED DE BREANSKI JUNIOR %5Ζ7Ζ6+b

EARLY MORN TAVY CLEAUR,DARTMOOR Signed, inscribed on stretcher FPb[b FP LQb[b LQ

e

É…/\RQ 7XUQEXOO [§] IAN HOUSTON 6&277Ζ6+b%

MULL DUART CASTLE IN VIVID LIGHT Gouache and acrylic, RQbERDUG b[b FP LQb[b LQ

e

10 [§] IAN HOUSTON 6&277Ζ6+b%

DUART CASTLE IN VEILED LIGHT Signed, gouache and acrylic on board FPb[b FP LQb[b LQ

Exhibited: Portland Gallery, London, August 2000, No 51

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ… 11 HANS SEBALD BEHAM *(50$1b

THE LADY AND DEATH Etching FPb[b FP LQb[b LQ

Provenance: With Folio Fine Art, London

e

12 ADRIAEN VAN OSTADE '87&+b

THE DOLL Etching plate B16 iii state of iv FPb[b FP LQ [ LQ

Provenance: with Folio Fine Art, London

e

10É…/\RQ 7XUQEXOO

REMBRANDT VAN RIJN, '87&+b

SECOND ORIENTAL HEAD Etching Bartsch no 287, only state, laid down, with small margins FPb[b FP LQb[b LQ

Provenance: Annan and sons, Glasgow

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…11

14 ALBRECHT DURER, *(50$1b

THE GREAT WAR HORSE Engraving 1505 Bartsch no 97, laid down FPb[b FP LQb[b LQ

Provenance: Annan and sons, Glasgow

e

12Ʌ/\RQ 7XUQEXOO GIOVANNI BATTISTA PIRANESI Ζ7$/Ζ$1b

VEDUTA DELLA BASILICA DI S LORENZO FUOR DELLE MURA Etching FPb[b FP LQb[b LQ

e

GIOVANNI BATTISTA PIRANESI Ζ7$/Ζ$1b

ALTRA VEDUTA DEL TEMPIO DELLA SIBILLA IN TIVOLI (FROM VEDUTE DI ROMA) Etching FP b[b FP LQb[b LQ

e

17 GIOVANNI BATTISTA PIRANESI Ζ7$/Ζ$1b

VEDUTA DI FACCIATA DELLA BASILICA DI S CROCE IN GERUSALEME Etching FPb[b FP LQb[b LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVɅ GIOVANNI PAOLO PANINI Ζ7$/Ζ$1b

A CLASSICAL ORATOR Signed with initials, pen, ink and wash FPb[b FP LQb[b LQ

e

ATTRIBUTED TO 9Ζ&725 -($1 1Ζ&2//( )5(1&+b

LANDSCAPE Pencil and wash FPb[b FP LQb[b LQ

e

14Ʌ/\RQ 7XUQEXOO 20 ATTRIBUTED TO SIR JAMES THORNHILL %5Ζ7Ζ6+b

STUDY FOR A CEILING DECORATION WITH ST HELENA AND ANOTHER FIGURE Bears inscription, pen and ink and wash, heightened with white FPb[b FP LQb[b LQ

e

21 ATTRIBUTED TO GIOVANNI ANGELO BORRONI Ζ7$/Ζ$1b

STUDY FOR A FRESCO DEPICTING ST BENEDICT WITH SS PETER AND MICHAEL Bears inscription, pencil, pen and brown ink The picture may be related to Borroni’s fresco of St Benedict for Cremona Cathedral FPb[b FP LQb[b LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVɅ 22 CIRCLE OF BARTOLOMMEO SCHEDONI Ζ7$/Ζ$1

MADONNA AND CHILD Oil on panel FPb[b FP LQb[b LQ

e

CIRCLE OF GIOVANNI CORENZIO Ζ7$/Ζ$1b)/

DAVID WITH THE HEAD OF GOLIATH Oil on panel FPb[b FP LQb[b LQ

e

É…/\RQ 7XUQEXOO

24 17TH CENTURY Ζ7$/Ζ$1b6&+22/ THE VIRGIN AND CHILD IN SPLENDOUR WITH TWO SAINTS AND CHERUBIM Oil on metal panel FPb[b FP LQb[b LQ

e For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…17

CIRCLE OF CARLO MARATTA Ζ7$/Ζ$1b

MADONNA AND CHILD IN A MOUNTAINOUS LANDSCAPE Oil on canvas FPb[b FP LQb[b LQ

e

É…/\RQ 7XUQEXOO

Venice and the Grand Tour Venice has captured the hearts and imaginations of Europe and the rest of the world for centuries. Once referred to as the ‘drawing room of Europe,’ the central square, Piazza San Marco was the social, religious and political centre of the city. By the eighteenth century, and the time of this painting, Venice’s political and economic power was declining, but its popularity as a travel destination was already established. It particularly attracted the young, wealthy British men completing their gentlemanly cultural education on a ‘Grand Tour,’ who were to drawn as much to its beauty and antiquity as to its reputation for decadence. A key feature of the Grand Tour was the purchase of souvenirs to be shipped back to their British homes as cultural mementoes and evidence of their advanced education. The popularity of these purchases created a ready market for scenes of the city’s famous monuments and vistas. A number of artists created capricci, fantasy scenes which grouped UHDO DQG Č´FWLRQDO ODQGPDUNV DQG FUHDWHG GUDPDWLF LI VOLJKWO\ inaccurate vistas to further their compositional wishes, while others created the more topographically accurate vedute. In this skilfully handled capriccio, the artist depicts a fantastic vision of Piazza San Marco, with a focus on a dramatic and sweeping view from a raised point, replacing the basilica itself with a canal. This perspective creates an expansive feeling and VKRZV WKH SDUWLFXODU LQČľXHQFH RI 0LFKHOH 0DULHVFKL ZKR KDG D very short but successful career as a painter and engraver, and was known for his views of Venice, publishing a set of 21 prints of the city, as well as his oil paintings.

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…

CIRCLE OF MICHELE MARIESCHI Ζ7$/Ζ$1b

A CAPRICCIO VIEW OF THE PIAZZA SAN MARCO, LOOKING WEST Bears a typewritten label on the reverse, oil on canvas FPb[b FP LQb[b LQ

Provenenace: The Brenchley Family, Glaneirw House, Blaenporth, Cardigan

e

20É…/\RQ 7XUQEXOO 27 FOLLOWER OF NICOLAES BERCHEM '87&+

PEASANTS AND ANIMALS ON A QUAYSIDE, BEACHED WARSHIPS BEYOND Oil on metal panel FPb[b FP LQb[b LQ

e

MANNER OF PAULUS POTTER '87&+b

CATTLE GRAZING Oil on panel FPb[b FP LQb[b LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…21

FOLLOWER OF ANTOINE COYPEL )5(1&+b

BACCHUS AND ARIADNE WITH WINE MERCHANTS Oil on canvas FPb[b FP LQb[b LQ

e

22É…/\RQ 7XUQEXOO CIRCLE OF GERRIT (GERARD) VAN BATTEM

MOONLIT LANDSCAPE WITH A FISHERMAN BY BUILDINGS AND A LAKE Bodycolour FPb[b FP LQb[b LQ

e

FOLLOWER OF JAN VAN GOYEN '87&+b

THE FERRY Oil on panel FPb[b FP LQb[b LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…

-($1 %$37Ζ67( 3Ζ//(0(17 )5(1&+b

WASHERWOMEN AND FISHERMEN BY A RIVERSIDE HOUSE Oil on canvas FPb[b FP LQb[b LQ

e

24É…/\RQ 7XUQEXOO

Joseph Nicholls The enigmatic artist Joseph Nicholls, sometimes known as Nichols or Nickols, is known as the painter of a number of topographical views of London, in particular around Chelsea, Vauxhall and West London and can be seen as a forerunner RIb&DQDOHWWR DQG KLV %ULWLVK HTXLYDOHQWV 6DPXHO 6FRWW DQG William Marlow. Comparatively little is known about Nicholls. He was from Bengeo in Hertfordshire, the son of a husbandman, and apprenticed to Thomas Batten in 1713. He was painting YLHZVbRI /RQGRQ YLHZV E\ DQG WZR RI WKHP Č‚ ČŠ6WRFNV 0DUNHWČ‹ DQG ČŠ)RXQWDLQ LQ WKH 7HPSOHČ‹ Č‚ ZHUH HQJUDYHG LQ WKDWb\HDU $ SDLU RI YLHZV RI 7ZLFNHQKDP E\ 1LFKROOV DUH LQ the Mellon Collection at Yale, one of Pope’s Villa and the other Orleans House. A painting by Nicholls in the collection of the Royal Bank of Scotland depicts Charing Cross in 1746. Another of the Fountain in the Middle Temple is in the collection of the Honourable Society of the Middle Temple. Another work by Nicholls, originally on the collection of the Earl of Ilchester depicting a View of the Rotunda, Ranelagh, sold at Christies in 1940 and 1948. A further painting of Ranelagh +RXVH DWWULEXWHG WR 1LFKROOV ZDV RÎ?HUHG E\ &KULVWLHV LQ Nicholls worked as an illustrator for works including Captain Johnson’s Famous Highwaymen, Murderers, etc published in 1734 and it seems probable that he also worked as a scenery painter as he is mentioned in the context of the decoration of Vauxhall Gardens as the painter of ‘a beautiful landscape painting of ruins and running water’.

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…

ATTRIBUTED TO JOSEPH NICHOLLS %5Ζ7Ζ6+b$&7Ζ9(

A VIEW OF A TOWN HOUSE, ADJOINING A PARK, WITH FIGURES PROMENADING Oil on canvas LQ [ LQ

e Note: It has been suggested that the image may represent a view in Petersham or Twickenham in Surrey, or in Chelsea.

É…/\RQ 7XUQEXOO

CIRCLE OF ROBERT WALKER %5Ζ7Ζ6+

PORTRAIT OF AN OFFICER, IN HALF ARMOUR, THREE-QUARTER LENGTH Oil on canvas FPb[b FP LQb[b LQ

e For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVɅ27 CIRCLE OF *(25*(b-$0(621( 6&277Ζ6+b

PORTRAIT OF LADY ANNE KEITH, HALF LENGTH Oil on canvas FPb[b FP LQb[b LQ

e

STUDIO OF JOHN GILES ECCARDT *(50$1

PORTRAIT OF GEORGE, LORD VISCOUNT BURY, HALF LENGTH, IN HALF ARMOUR Oil on canvas FPb[b FP LQb[b LQ

e

É…/\RQ 7XUQEXOO

CIRCLE OF SIR PETER LELY %5Ζ7Ζ6+

HALF-LENGTH PORTRAIT 2)b-2+1 &+$031(<6 (64 OF ORCHARDLEIGH Oil on canvas [ FP LQ [ LQ

Note: The sitter’s sister, Penelope Champneys, daughter of Richard Champneys of Orchardleigh, was the mother of the much-admired yet tragically short-lived portrait painter John Greenhill (c.1644-1676)

e For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…

ATTRIBUTED TO WILLIAM CLARET %5Ζ7Ζ6+b

PORTRAIT OF A LADY IN A BLUE DRESS Oil on canvas FP [ FP [ LQ

e

É…/\RQ 7XUQEXOO

JOHN CLOSTERMAN *(50$1

PORTRAIT OF WILLIAM PAUL OF BRAY, WITH HIS GUN AND DOG Oil on canvas. [ FP LQ [ LQ

e For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…

40 ATTRIBUTED TO ENOCH SEEMAN THE YOUNGER 32/Ζ6+b

SELF PORTRAIT Bears signature, oil on canvas, in a framed oval FPb[b FP LQb[b LQ

e

É…/\RQ 7XUQEXOO

John Riley John Riley was an eminent portrait painter of courtly life in the 17th century. Second only to Sir Peter Lely and with a lone rival in Sir Godfrey Kneller, his quieter reputation in the annals of art history has been attributed to his modesty of character. This extended to characterise his work which has been GHVFULEHG DV SRVVHVVLQJ DQ ČŠXQDVVXPLQJ VLQFHULW\Č‹ 7RGD\ DV modern viewers looking back on a past era, his accurate and unexaggerated rendering of his sitters brings us fascinatingly and pleasurably close to understanding his subjects as real individuals. His work, understated and quietly sophisticated, is also cited as typifying a distinctly English approach within the genre of portraiture. In 1681 Charles II appointed him ‘painter and picture drawer in ordinary’, the highest accolade a portrait artist could attain. He is said to have produced a portrait of Charles, now believed lost, that prompted the response: ‘Is this like me? Then, RGGȇV Č´VK ΖȇP DQ XJO\ IHOORZ Č‹ 8QIRUWXQDWHO\ WKHQ IRU &KDUOHV Riley was considered a master of depicting the face, and, by extension, character. 7KH SRUWUDLW RÎ?HUHG KHUH IRU VDOH LV QR H[FHSWLRQ 7KRXJK XQLGHQWLČ´HG ZH FDQ JOHDQ PXFK RI RXU VLWWHU WKURXJK REVHUYDWLRQ DORQH 7KRXJK KHU Č´QH GUHVV DQG IDVKLRQDEOH adornment of strings of pearls obviously denote her as a high born, courtly lady, we can also potentially infer a gentle demeanour from the muted palette and the extraordinarily soft and delicate handling of her facial features and face framing curls. Riley makes much of her large, dark eyes which hold the YLHZHU DUUHVWLQJO\ LQ WKHLU JD]H WKH RYHUDOO HÎ?HFW EHLQJ WKDW RI D unostentatious but nonetheless striking young woman.

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…

41 JOHN RILEY %5Ζ7Ζ6+b

PORTRAIT OF A LADY :Ζ7+b3($5/6 Oil on canvas, oval FPb[b FP LQb[b LQ

e

Ʌ/\RQ 7XUQEXOO 69 ATTRIBUTED TO SIR JOHN HOPPNER %5Ζ7Ζ6+b

PORTRAIT OF MONTAGUE DOUGLAS, 2ND BARONESS ABERCROMBY, HALF LENGTH Oil on canvas FP [ FP LQ [ LQ

e

Lot 42a CIRCLE OF SIR THOMAS LAWRENCE P.R.A. %5Ζ7Ζ6+b

PORTRAIT OF A YOUNG MAN, HALF LENGTH, IN A TWILIGHT LANDSCAPE Oil on canvas FP [ FP LQ [ LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVษ

CIRCLE OF NICOLAS DE LARGILLIERE )5(1&+

PORTRAIT OF A GENTLEMAN, THOUGHT TO BE JACQUES I, PRINCE OF MONACO Oil on canvas FPb[b FP LQb[b LQ

Note: The possible sitter, Jacques Franรงois Lรฉonor (1689-1751) was Count of Thorigny and fourth 'XFbGH 9DOHQWLQRLV +LV 3DULV KRXVH WKH +RWHO 0DWLJQRQ LV QRZ WKH Rษ FLDO UHVLGHQFH RI WKH 3ULPHb0LQLVWHU RI )UDQFH

e

Ʌ/\RQ 7XUQEXOO 44 FOLLOWER OF JAMES NORTHCOTE %5Ζ7Ζ6+b

PORTRAIT OF ANNE WARRINGTON, AN AMERICAN MAN OF WAR BEYOND Oil on canvas FPb[b FP LQ ; LQ

e

CIRCLE OF GEORGE HENRY HARLOW %5Ζ7Ζ6+b

PORTRAIT OF A MOTHER AND CHILD Oil on canvas, hexagonal FPb[b FP LQb[b LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVɅ ATTRIBUTED TO ANDREW GEDDES A.R.A. 6&277Ζ6+b

HALF LENGTH PORTRAIT OF 056b-(5(0Ζ$+ *5($725Ζ; Oil on canvas FPb[b FP LQb[b LQ

e

47 SIR FRANCIS GRANT P.R.A., R.S.A. 6&277Ζ6+b

A FAMILY PORTRAIT OF MRS GEORGE KINNEAR AND HER DAUGHTER JANET Oil on canvas FPb[b FP LQb[b LQ

Exhibited: Royal Scottish Academy 1831, no.51

e

Ʌ/\RQ 7XUQEXOO HUGH RAMSAY $8675$/Ζ$1

PORTRAIT OF AN ELDERLY LADY Signed, Oil on canvas FPb[b FP LQb[b LQ

This lot includes two monographs on Ramsay and a CD

e

[§] DAVID FOGGIE 6&277Ζ6+

PORTRAIT OF A %5Ζ7Ζ6+b$50< 2))Ζ&(5 Signed, oil on canvas FPb[b FP LQb[b LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…

FOLLOWER OF JJ MASQUERIER %5Ζ7Ζ6+b

PORTRAIT OF A LADY, THREE-QUARTER LENGTH, IN A LANDSCAPE Oil on canvas FP [ FP LQ [ LQ

e

40É…/\RQ 7XUQEXOO

RAMON CASAS 63$1Ζ6+b

PORTRAIT OF A YOUNG WOMAN SIgned, pastel FPb[b FP LQb[b LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…41

EDGARD FARASYN %(/*Ζ$1b

NAUGHTY PUSSY Signed and dated 1878, oil on canvas FPb[b FP LQb[b LQ

e

42É…/\RQ 7XUQEXOO

A Portrait of Yehudi Menuhin F]c3WOEVc/SOSWGLOE The career of Oskar Kokoschka bestrides 20th century art and culture. Born in Austria in 1886, Kokoschka studied at the Kunstgewerbeschule in Vienna in the early years of the 20th FHQWXU\ XQGHU WKH LQČľXHQFH RI WKH 9LHQQD 6HFHVVLRQLVWV ([KLELWLQJ there from 1908, he also began to publish poems. In 1910, he travelled to Switzerland, following his patron, the architect $GROIb/RRV EHIRUH PRYLQJ RQ WR %HUOLQ ZKHUH DIWHU KLV Č´UVW VROR show at Cassirer, he had drawings published in Der Sturm. In 1912, now associated with the Expressionist movement and ZLWK KLV FDUHHU WDNLQJ RÎ? KH EHJDQ DQ DÎ?DLU ZLWK $OPD 0DKOHU SXEOLVKHG D QRYHOOD DQG JDYH DQ LQČľXHQWLDO OHFWXUH RQ Ȇ7KH Awareness of Visions’. After serving with the Austrian army in World War I, Kokoschka turned to landscape painting and began to travel throughout (XURSH ΖQ KH ČľHG 9LHQQD IURP WKH 1D]LV E\ ZKRP KLV art had been branded ‘degenerate’, moving to Prague and ultimately in 1938 to Great Britain. During the War he lived for some months in Scotland both at Ullapool and Fort William and it was here that he began to make what would become his trademark portraits in coloured pencil. In 1947, Kokoschka took British citizenship, but in 1953 he settled permanently in Switzerland, with which he had long had close ties. He died in his house near Geneva in 1980. He was created CBE and held an Honorary Doctorate from the University of Oxford. By the latter half of the 20th century, Kokoschka’s wide circle of friends included some of the most famous musicians of the 20th century, from the composers Anton von Webern and Alban Berg, to the conductor Wilhelm Furtwängler (whom he Č´UVW PHW LQ 5RPH LQ WKH SLDQLVWV 6YLDWRVODY 5LFKWHU DQG Rudolf Serkin and the violinist Yehudi Menuhin, who in 1957 established a music festival in his name in Gstaad. Kokoschka made this spirited pencil drawing of Menuhin a year later, in 1958. He and his wife were close personal friends of the Menuhins and neighbours of theirs in Gstaad, where they would together attend the music festival. We know that Kokoschka personally presented the Menuhins with examples of his work. This particular drawing was one of two lots by Kokoschka sold at an evening auction at the Royal Academy in London on WKb0D\ LQ DLG RI WKH <HKXGL 0HQXKLQ 6FKRRO RI 0XVLF IRU Children at Cobham, Surrey. The auctioneer was Peter Wilson, Chairman of Sotheby’s and the drawing made ÂŁ1,500. The drawing, lot 9, was catalogued, as were many of the lots, DV KDYLQJ EHHQ ČŠGRQDWHG E\ WKH DUWLVWČ‹ $PRQJ RWKHU DUWLVWV featured in the sale were Epstein, Beaton, Frink, Moore, Piper and Chagall. The Kokoschka drawing of Menuhin featured on the cover. The purchaser was the late Sigmund Root, a Czech ÂŤPLJUÂŤ DQG D VLJQLČ´FDQW GRQRU WR WKH <HKXGL 0HQXKLQ 6FKRRO What is perhaps most striking about this piece are the musician’s eyes, which the artist has captured in sparkling intensity at a moment of profound concentration. It is an extraordinary object; much more than a portrait, it is a GHHSO\ IHOW WULEXWH IURP RQH WRZHULQJ Č´JXUH RI PRGHUQ FXOWXUH to another. For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…

OSKAR KOKOSCHKA $8675Ζ$1

PORTRAIT OF SIR YEHUDI MENUHIN Signed, pencil FPb[b FP LQb[b LQ

Provenance: The artist The collection of Sigmund Root

e

44É…/\RQ 7XUQEXOO [§] ERNEST STEPHEN LUMSDEN R.S.A. 6&277Ζ6+b

PORTRAIT OF THE ARTIST’S DAUGHTER Signed and dated 1930, oil on canvas. Bears inscription on stretcher. FPb[b FP LQb[b LQ

Provenance: With the Open Eye Gallery, Edinburgh

e Note: The sitter, Marjorie Comyn Lumsden (b.1917) was later Mrs Marjorie Barton.

[§] MARCEL DYF )5(1&+

PORTRAIT OF A YOUNG GIRL IN A BLUE SHAWL Signed, oil on canvas FP [ FP LQ [ LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…

ATTRIBUTED TO GUISSEPI LAVAGNA Ζ7$/Ζ$1b

STILL LIFE OF FLOWERS IN A BASKET ON A LEDGE Oil on canvas FPb[b FP LQb[b LQ

e

Ʌ/\RQ 7XUQEXOO ROBERT HOPE R.S.A. 6&277Ζ6+b

THE PORCELAIN VASE Signed, inscribed on label on reverse, oil on canvas FPb[b FP LQb[b LQ

e

JAMES STUART PARK 6&277Ζ6+b

A STILL LIFE OF PINK AND WHITE ROSES Signed, oil on canvas, oval FPb[b FP LQb[b LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…47

PIETER GERRITSZ VAN ROESTRATEN '87&+b

STILL LIFE WITH A VIOLIN AND SCULPTURE Signed, oil on canvas FP [ FP [ LQ

e

É…/\RQ 7XUQEXOO

JAMES STUART PARK %5Ζ7Ζ6+b

STILL LIFE OF YELLOW ROSES Signed, oil on canvas FPb[b FP LQb[b LQ

e

JAMES STUART PARK 6&277Ζ6+b

STILL LIFE WITH GERANIUMS Signed, oil on canvas b[b FP LQb[b LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…

J ALEXANDER AFTER SIR DAVID WILKIE R.A. 6&277Ζ6+b

THE REFUSAL Signed, oil on canvas FP [ FP LQ [ LQ

e

Ʌ/\RQ 7XUQEXOO AFTER THOMAS FAED R.A., R.S.A. 6&277Ζ6+b

THE MITHERLESS BAIRN Oil on canvas,octagonal canvas, in a framed circle FPb[b FP LQb[b LQ

Note: The painting is a copy after the left hand section of a printeither that by Samuel Cousins or that by Christian Rost, both afterThomas Faed’s best known painting, painted in 1855 and now in the National Gallery of Victoria, Melbourne

e

THOMAS FAED R.A., R.S.A. %5Ζ7Ζ6+b

A HIGHLAND LASS Signed and dated 1863, oil on canvas FPb[b FP LQb[b LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…

RICHARD BUCKNER %5Ζ7Ζ6+b

BOY OF PICINISCO Signed, inscribed and dated Rome 1842, also inscribed on reverse ‘Regno di Napoli’ , oil on canvas FPb[b FP LQb[b LQ

e

Ʌ/\RQ 7XUQEXOO ALCIDE SEGONI Ζ7$/Ζ$1b

THE CONNOISSEUR Signed, oil on canvas FPb[b FP LQb[b LQ

e

CIRCLE OF JEAN LOUIS ERNEST MEISSONIER )5(1&+b

TARGET PRACTICE Bears signature, oil on panel FP [ FP [ LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVɅ TOM MCEWAN 6&277Ζ6+b

THE OPEN DOOR Signed, signed, inscribed and dated 1899 on reverse, oil on canvas FPb[b FP LQb[b LQ

Exhibited: Scottish National Exhibition, Edinburgh, 1908

e

ALBERT LUDOVICI SENIOR *(50$1b

THE APPLE THIEVES Signed with monogram, oil on paper laid on board FPb[b FP LQb[b LQ

e

70 MANNER OF CHARLES HUNT %5Ζ7Ζ6+b

AT THE BLACKSMITH’S Oil on canvas FPb[b FP LQb[b LQ

e

É…/\RQ 7XUQEXOO 71 [§] ALEXANDRE BORISOVICH SEREBRIAKOFF 5866Ζ$1b STUDY B – PROJECT FOR THE DECORATION OF THE WINDOW OF MAISON A LA VIELN LE RUSSIE Signed, inscribed and dated ‘10 Mars 1954,’ pen and ink and gouache FPb[b FP LQb[b LQ

e

72 [§] ALEXANDRE BORISOVICH SEREBRIAKOFF 5866Ζ$1b PROJECT FOR THE DECORATION OF LA MAISON A LA VIELLE RUSSIE Signed, inscribed and dated ‘18 Mai 1953,’ SHQbDQG LQN DQG JRXDFKH FPb[b FP LQb[b LQ

e

[§] ALEXANDRE BORISOVICH SEREBRIAKOFF 5866Ζ$1b

LES JARDINS DE TUILERIES Signed, inscribed and dated ‘Paris 1931’, SHQbDQG LQN DQG ZDWHUFRORXU ZLWK ERG\FRORXU FPb[b FP LQb[b LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ… 74 [§] ALEXANDRE BORISOVICH SEREBRIAKOFF 5866Ζ$1b

LAUNDRY BOAT ON THE SEINE Signed, inscribed ‘Paris, Pont Neuf, 1932,’ SHQbDQG LQN DQG ZDWHUFRORXU ZLWK ERG\FRORXU FPb[b FP LQb[b LQ

e

PAVEL TCHELITCHEW 5866Ζ$1b

STUDY OF A SEATED FIGURE 6LJQHG SHQ DQG LQN RQ EXÎ? paper FPb[b FP LQb[b LQ

Provenance: Russian Works of Art from the Collection of The Late Jan Bethge Esq. It has been suggested that this study was previously included in the Christie’s The Edward James Collection 2-6 June 1986.

e

É…/\RQ 7XUQEXOO

Pougny Jean Pougny, or Ivan Puni as he was originally known, is a fascinating artist whose work straddles two of the great European Modernist art movements of the twentieth century. A Russian by birth, Pougny was of Italian extraction and had a family background in the arts, his grandfather being the highly regarded composer of ballet scores, Cesare Pugni. Attracted to painting, Pougny, like so many notable artists of the period, was drawn to the artistic hub of Paris as a young man. Initially LQȾXHQFHG E\ WKH )DXYHV KH WUDLQHG DW WKH $FDGHPLH -XOLDQ between 1910-1911. Pougny returned to Russia in 1912 and his work evolved to become informed by Cubist tendencies. Now a key protagonist within the artistic collectives developing in St Petersburg, he exhibited alongside the likes of Kazimir Malevich and Vladimir Tatlin. He and his wife the artist Kseniya Boguslavskaya were a focal point of the avant-garde scene and their apartment became a meeting place for artists and poets. In 1916 he joined the Supremus group founded by Malevitch, co-writing the manifesto which, on the eve of the 1917 Revolution, posited a new abstract art for a new era based XSRQ ȊWKH VXSUHPDF\ RI SXUH DUWLVWLF IHHOLQJȋ UDWKHU WKDQ RQ visual depiction of objects. He also co-organised the now iconic 0.10 exhibition. In 1919 he and Boguslavskaya escaped the Soviet Union, ȾHHLQJ DFURVV WKH LFH RI WKH *XOI RI )LQODQG DQG VHWWOLQJ IRU D WLPH LQ %HUOLQ ZKHUH WKH ȴUVW VROR H[KLELWLRQ RI KLV ZRUN ZDV held at the Galerie der Sturm. From 1923 they resided in Paris, where Puni changed his name and began signing his artworks Pougny to better appeal to the French market. His style reverted to its Fauvist roots and he became fully re-embedded within French artistic traditions. The subject of the Harlequin was a trope explored by many of the French Modernists, from Cezanne to Juan Gris. A stock character from the Italian Commedia dell’art, Harlequin was a mischievous trickster; representative of the impulses of whimsy and romance. Perhaps unsurprisingly, he became a popular alter-ego for many artists of this period. They were no doubt also attracted by the traditional design of Harlequin’s costume ZKLFK FRPSULVHG WUL FRORXU GLDPRQG VKDSHV ȴQGLQJ LW UHȾHFWHG the geometry of form and purity of colour that was being explored at this time. Pougny died in Paris in 1956; after which his wife donated 12 paintings to the MusÊe National d’Art Moderne in Paris in 1959.

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…

[§] JEAN POUGNY (IVAN PUNI) 5866Ζ$1b

ARLEQUIN Signed Pougny, oil on canvas Exhibited: Salon des Tuileries 1934, No 6 Pugny exhibition, St Etienne 1958, No 11

FP [ FP LQ [ LQ

e

É…/\RQ 7XUQEXOO 77 CHARLES MERYON, )5(1&+b

LA TOUR D’HORLOGE Etching no. 4 of 10 4th state FPb[b FP LQb[b LQ

e

CHARLES MERYON, )5(1&+b

SAINTE ETIENNE DU MONT 1852, etching, no. 4 of 8 FPb[b FP LQb[b LQ

CHARLES MERYON )5(1&+b

LA RUE DES MAUVAIS GARCONS Etching

Provenance: Andrew Duthie, Glasgow

e

FPb[b FP LQb[b LQ

Provenance: Annan and sons, Glasgow

e For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVɅ WILLIAM STRANG 6&277Ζ6+b

TOLEDO Signed, etching FPb[b FP LQb[b LQ

e

WILLIAM STRANG 6&277Ζ6+b

THE BRIDGE Signed, etching FPb[b FP LQb[b LQ

e

JAMES ABOTT MCNEILL WHISTLER $0(5Ζ&$1b

LA MERE GIRARD 1858. Final state of four, signed and LGHQWLÈ´HG ZLWKLQ WKH SODWH HWFKLQJ FPb[b FP [ LQ

Provenance: Andrew Duthie, Glasgow

e

Ʌ/\RQ 7XUQEXOO JAMES ABBOTT MCNEILL WHISTLER, $0(5Ζ&$1b

BIBI LAMOTTE 1859. second state of two, Etching FPb[b FP LQb[b LQ

Provenance: Andrew Duthie, Glasgow Catalogue: Kennedy 51

e

[§] GERALD LESLIE BROCKHURST %5Ζ7Ζ6+b

THE MIRROR Signed, etching. 1920, edition of of 55 proofs FPb[b FP LQb[b LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…

>i@ -2+1 3Ζ3(5 %5Ζ7Ζ6+b

VENICE COMPOSITION Signed in white crayon, numbered 22/100, screenprint in colours, 1973, on Arches paper. Published by Marlborough Fine Art, London, printed to the edges of the full sheet FPb[b FP LQ [ LQ

e

É…/\RQ 7XUQEXOO

[§] MUIRHEAD BONE 6&277Ζ6+b

CONSCRIPTS LEAVING MAIDOS, DARDANELLES Signed, pencil FPb[b FP LQb[b LQ

Provenance: With Annan and Sons, Glasgow

e

EDWARD PRITCHETT %5Ζ7Ζ6+b

LOOKING TOWARDS THE MOUTH OF THE GRAND CANAL, VENICE Oil on canvas FPb[b FP LQb[b LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVɅ JAMES WHITELAW HAMILTON R.S.A. 6&277Ζ6+b

$ 0$5.(7 6&(1( %()25( $b&+85&+ Signed, oil on canvas FPb[b FP LQb[b LQ

e

[§] WILLIAM LEE HANKEY %5Ζ7Ζ6+b

025/$Ζ; %5Ζ77$1< Signed, signed, inscribed and dated 1936 on reverse, oil on canvas FPb[b FP LQb[b LQ

e

Ʌ/\RQ 7XUQEXOO JAMES THOMAS WATTS %5Ζ7Ζ6+b

TWILIGHT BEECHWOODS Signed, watercolour b[b FP LQb[b LQ

e

JAMES THOMAS WATTS %5Ζ7Ζ6+b

NATURE’S CATHEDRAL Signed, watercolour b[b FP LQb[b LQ

Provenance: With Chris Beetles, London

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVɅ GEORGE BLACKIE STICKS %5Ζ7Ζ6+b

DUNCRAGGAN AND GLENFINLAS Signed and dated 1896, signed,inscribed and dated on reverse, oil on canvas FPb[b FP LQb[b LQ

e

JAMES KAY R.S.A., R.S.W. 6&277Ζ6+b

BATHERS ON A ROCKY COAST Signed, oil on board FP [ FP LQ [ LQ

e

É…/\RQ 7XUQEXOO

[§] ÉDOUARD LEON CORTÈS )5(1&+b

MOTHER AND CHILD BY $b0Ζ// Signed, oil on canvas, unframed FPb[b FP LQb[b LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…

[§] ÉDOUARD LEON CORTÈS )5(1&+b

EVENING, THE CAFE DE LA 3$Ζ; $1' 7+( 3/$&( '( L’OPERA, PARIS Signed, oil on canvas FPb[b FP LQb[b LQ

e

É…/\RQ 7XUQEXOO [§] PAUL JOUVÉ )5(1&+b

L’HIBOU Signed, gouache and watercolour Provenance: with Julian Hartnoll

FPb[b FP LQb[b LQ

e

PERCY FRENCH Ζ5Ζ6+b

MISTY MORNING, CONNEMARA Signed, watercolour FPb[b FP LQb[b LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…

[§] COLIN BURNS %5Ζ7Ζ6+b%

RED GROUSE, DUSK RANNOCH MOOR Signed, oil on canvas FPb[b FP LQb[b LQ

e

70É…/\RQ 7XUQEXOO

THOMAS HENRY GIBB %5Ζ7Ζ6+

TAKING THE HEIGHTS Signed and dated 1884, signed, inscribed ‘Alnwick’ and dated on reverse, oil on canvas FP [ FP LQ [ LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…71

100 [§] SIR PETER SCOTT %5Ζ7Ζ6+b

REDSHANKS Signed and dated 1935, oil on canvas FPb[b FP LQb[b LQ

e

72Ʌ/\RQ 7XUQEXOO 101 SAM FULTON 6&277Ζ6+b

CANINE COMPANIONS Signed, oil on canvas FPb[b FP LQb[b LQ

e

102 SAM FULTON 6&277Ζ6+b

DOGS IN A STABLE Signed, oil on canvas FPb[b FP LQb[b LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…

[§] LIONEL EDWARDS %5Ζ7Ζ6+b

COURSING, A HUNTSMAN WATCHING THE COURSE Signed, watercolour heightened with white b[b FP b[b LQ

Provenance: with the Camden Gallery, London

e

74Ʌ/\RQ 7XUQEXOO 104 CORNELIUS KRIEGHOFF '87&+ &$1$'Ζ$1

A TRAPPER AND HIS FAMILY Signed, watercolour FPb[b FP LQb[b LQ

e

CARL WILLIAM PETERS $0(5Ζ&$1

WINTER THAW Signed, oil on canvas board FPb[b FP LQb[b LQ

Provenance: RH Love Galleries, Chicago Exhibited: Washington County Museum of Fine Arts, 1996

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…

JOHN FERNELEY JUNIOR %5Ζ7Ζ6+b

PORTRAIT OF A CLERIC ON A HORSE, WITH A DOG BEFORE A CHURCH Oil on canvas FPb[b FP LQb[b LQ

e

Ʌ/\RQ 7XUQEXOO 107 JAMES WHITE %5Ζ7Ζ6+ 7+ &(1785<

A PASTORAL SCENE WITH CATTLE, A HORSE, A FOAL AND A DONKEY Signed, oil on canvas FPb[b FP LQb[b LQ

e

HENRY WEEKES %5Ζ7Ζ6+b

THE GAMEKEEPER’S SON Signed, oil on canvas FPb[b FP LQb[b LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVɅ77 EUGENE VERBOECKHOVEN %(/*Ζ$1b

SHEEP IN A LANDSCAPE Indistinctly signed, oil on panel FPb[b FP LQb[b LQ

e

110 GEORGE SMITH R.S.A. 6&277Ζ6+b

THE TIMBER WAGON Signed, oil on canvas FPb[b FP LQb[b LQ

e

É…/\RQ 7XUQEXOO 111 [§] TOM CARR 6&277Ζ6+b 7+ &(1785<

PLOUGHING Signed, oil on artist’s board FPb[b FP LQb[b LQ

e

112 ANDREW BLACK R.S.W. %5Ζ7Ζ6+

TARBERT Signed and inscribed, oil on canvas FP [ FP LQ [ LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVɅ JOHN HORACE HOOPER %5Ζ7Ζ6+b

A FISHERMAN AT DUSK Signed, oil on canvas FPb[b FP LQb[b LQ

e

114 WILLIAM KAY BLACKLOCK %5Ζ7Ζ6+b

SPRAT FISHERS Signed and dated 1918, oil in panel FPb[b FP LQb[b LQ

e

Ʌ/\RQ 7XUQEXOO ARCHIBALD DAVID REID %5Ζ7Ζ6+b

SAILING BARGES ON A RIVER Signed, oil on canvas FPb[b FP LQb[b LQ

e

CHARLES DIXON %5Ζ7Ζ6+b

THE LOWER POOL Signed, inscribed and dated ‘09, watercolour, heightened with white FPb[b FP LQb[b LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVɅ 117 JAMES WHITELAW HAMILTON 6&277Ζ6+

AT DUSK ON THE CLYDE Signed, signed and inscribed on a label on reverse, oil on canvas FP [ FP LQ [ LQ

Exhibited: Helensburgh Art Club, 1972

e

JULIUS OLSSON %5Ζ7Ζ6+b

THE LONGSHIP’S LIGHTHOUSE FROM /$1'ȇ6b(1' Signed, oil on canvas FPb[b FP LQb[b LQ

e

Ʌ/\RQ 7XUQEXOO STEPHEN BATCHELDER %5Ζ7Ζ6+b

KINGS LYNN, AND ON THE NORFOLK BROADS) Signed, watercolour, and another similar unsigned, a pair (2) FPb[b FP LQ [ LQ

e

120 SAM BOUGH %5Ζ7Ζ6+b

FISHING BOATS OFF THE PORT OF LEITH WITH A VIEW OF EDINBURGH Signed and dated 1869, watercolour FPb[b FP LQb[b LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ… 121 ABRAHAM HULK SENIOR '87&+b

SHIPPING OFF THE COAST IN CALM SEAS Signed, oil on panel FPb[b FP LQb[b LQ

Provenance: MacConnal-Mason & Son, London

e

122 LOUIS BARNABA %(/*Ζ$1b%

)5(1&+b)Ζ6+Ζ1* %2$76 2)) A LIGHTHOUSE Signed and dated 1874, oil on canvas FPb[b FP LQb[b LQ

e

É…/\RQ 7XUQEXOO

WILLIAM CALCOTT KNELL %5Ζ7Ζ6+b

A SUMMER’S MORN ON THE DANISH COAST Signed with initials on reverse and inscribed, oil on canvas and another, signed with monogram, inscribed and dated 1875 (2) FPb[b FP LQb[b LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…

124 JOHN MOORE OF IPSWICH %5Ζ7Ζ6+b

FISHING BOATS IN A CHOPPY SEA, AND ANOTHER SIMILAR Signed and dated 1888, oil on canvas, a pair (2) FPb[b FP LQb[b LQ

e

É…/\RQ 7XUQEXOO

WILLIAM RAYMOND DOMMERSEN %5Ζ7Ζ6+b

ZONNENBERGH ON THE SPAARN Signed and dated 1889, signed with initials and inscribed with title on the reverse, oil on canvas, and another similar, a pair (2) FPb[b FP LQb[b LQ

e

For details of fees payable in addition to the hammer price of each lot, please see the ‘Buyer’s Guide’ section of this catalogue on page 2.

%ULWLVK (XURSHDQ 3DLQWLQJVÉ…

COLIN HUNTER 6&277Ζ6+b

HERRING FISHING OFF KILDONAN CASTLE, ISLE OF ARRAN Signed and dated 1897, oil RQbFDQYDV FP [ FP LQ [ LQ

Exhibited: Royal Academy exhibition 1901 Nottingham Castle Art Gallery

e END OF SALE

Index A Alexander, J., after Sir David Wilkie, 62 B Barnaba, L., 122 Batchelder, S., 119 Beham, H. S., 11 Berchem, N., follower of, 27 Black, A., 112 Blacklock, W.K., 114 Bone, M., 86 Borroni, A.B., attributed to, 21 Bough, S., 120 Brockhurst., G.L., 84 Buckner, R., 65 Burns, C., 98 Buxton Knight, J., 4 C Calcott Knell, W., 123 Carr, T., 111 Casas, R., 51 Claret, W., attributed to, 38 Closterman, J., 39 Corenzio, G., circle of, 23 Cortès, E.L., 94, 95 Coypel, A., follower of, 29 D Dayes, E., 5 de Breanski, A., Junior, 6, 7, 8 de Largilliere, N., circle of, 43 Dixon, C., 116 Domersen, W.R., 125 Durer, A., 14 Dyf, M., 55 E Eccardt, J.G., 36 Edwards, L., 103

F Faed, T., 64 Faed, T., after, 63 Farasyn, E., 52 Ferneley, J., junior, 106 Foggie, D., 49 French, P., 97 Fulton, S., 101, 102 G Geddes, A., attributed to, 46 Gibb, T.H., 100 Grant, Sir F., 47 H Hankey, W.L., 89 Harlow, G.H., circle of, 45 Hooper, J.H., 113 Hope, R., 2 Hope, R., 57 Hoppner, Sir J., attributed to, 42 Houston, I., 9, 10 Hulk, A., senior, 121 Hunt, C., manner of, 70 Hunter, C., 126

M Maratta, C., circle of, 25 Marieschi, M., circle of, 26 Masquerier, J.J., follower of, 50 McEwan, T., 68 Meissonier, J.L.E., circle of, 67 Meryon, C., 77, 78, 79 Moore, J., of Ipswich, 124 N Nicholls, J., attributed to, 33 Nicolle, V.-J., attributed to, 19 Northcote, J., follower of, 44 O Olsson, J., 118

J Jamesone, G., circle of, 35 JouvĂŠ, P., 96

P Panini, G.P., 18 Park, J.S., 60, 61 Park, S., 48 Peters, C.W., 105 Pettit, C., 3 Pillement, J.-B., 32 Piper, J., 85 Piranesi, G.B., 15, 16, 17 Potter, P., manner of, 28 Pougny, J., 76 Pritchett, E., 87

K Kay, J., 93 Kokoschka, O., 53 .ULHJKRÎ? &

R Ramsay, H., 48 Reid, A.D., 115 Riley, J., 41

S Schedoni, B., circle of, 22 Scott, Sir P., 100 Seeman, E., the younger, attributed to, 40 Segoni, A., 66 6HUHEULDNRÎ? $ % 74 Smith, G., 110 Sticks, G.B., 92 Strant, W., 80, 81 T Tchelitchew, P., 75 Thornhill, Sir J., attributed to, 20 V van Battem, G., circle of, 30 van Goyen, J., follower of, 31 van Ostade, A., 12 van Rijn, R., 13 van Roestraten, P.G., 59 Verboeckhoven, E., 109 W Walker, R., circle of, 34 Watts, J.T., 90, 91 Weekes, H., 108 Westall, W., 1 Whistler, J.A.M., 82, 83 White, J., 107 Whitelaw Hamilton, J., 88, 117

L Lavagna, G., attributed to, 56 Lawrence, Sir T., circle of, 42a Lely, Sir P., circle of, 37 Ludovici, A., senior, 69 Lumsden, E.S., 54

Glossary The following expressions with their accompanying explanations are used by Lyon & Turnbull as standard cataloguing practice. Our use of these expressions does not take account of the condition of the lot or the extent of any restoration. Buyers are recommended to inspect the property themselves. Written condition reports are usually available on request.

Name(s) or Recognised Designation of an Artist ZLWKRXW DQ\ 4XDOLȴFDWLRQ In our opinion a work by the artist Attributed to‌ In our opinion probably a work by the artist in whole or in part. Studio of ‌ / Workshop of ‌ In our opinion a work executed in the studio or workshop of the artist, possible under his supervision

Circle of ‌ In our opinion a work of the period of the artist and VKRZLQJ KLV LQȾXHQFH Follower of ‌ In our opinion a work executed in the artist’s style but not necessarily by a pupil. Manner of ‌ In our opinion a work executed in the artist’s style but of a later date After ‌ In our opinion a copy (of any date) of a work of the artist.

Signed ‌ / Dated ‌ / Inscribed ‌ / In our opinion the work has been signed/dated/inscribed by the artist. Bears Signature ‌ / Date ‌ / Inscription ‌ / In our opinion the signature/ date/inscription appears to be by a hand other than that of the artist. Dimensions are given height before width.

Conditions of sale for sellers 1. DEFINITIONS ΖQ WKHVH &RQGLWLRQV RI 6DOH 6HOOHUV Ȋ$XFWLRQHHUȋ PHDQV /\RQ 7XUQEXOO /WG RU LWV DXWKRULVHG DXFWLRQHHU DV DSSURSULDWH Ȋ$XWKHQWLFLW\ JXDUDQWHHȋ LV WKH REOLJDWLRQ XQGHUWDNHQ E\ /\RQ 7XUQEXOO WR WKH EX\HU LQ UHVSHFW RI DQ\ IRUJHU\ Ȋ%X\HUȊ LV WKH SHUVRQ ZKR PDNHV WKH KLJKHVW SRVVLEOH ELG RU R΍HU DFFHSWHG E\ WKH DXFWLRQHHU DQG RU VXFK SHUVRQȇV SULQFLSDO ZKHUH ELGGLQJ DV DJHQW Ȋ%X\HUȆV 3UHPLXPȋ LV WKH FRPPLVVLRQ SD\DEOH E\ WKH %X\HU RQ WKH +DPPHU 3ULFH DW WKH UDWHV VHW RXW LQ WKH 6DOH &DWDORJXH *XLGH WR 3URVSHFWLYH %X\HUV DQG DQ DPRXQW LQ UHVSHFW RI DSSOLFDEOH 9$7 Ȋ+DPPHU 3ULFHȋ LV WKH KLJKHVW ELG DFFHSWHG E\ WKH DXFWLRQHHU E\ WKH IDOO RI WKH KDPPHU RU LQ WKH FDVH RI D SRVW DXFWLRQ VDOH WKH DJUHHG VDOH SULFH ȊΖWHPȋ PHDQV HDFK DQG HYHU\ LWHP FRQVLJQHG IRU VDOH IROORZLQJ H[SUHVV ZULWWHQ DJUHHPHQW EHWZHHQ /\RQ 7XUQEXOO DQG WKH 6HOOHU Ȋ/RWȊ PHDQV HDFK ΖWHP R΍HUHG IRU VDOH E\ /\RQ 7XUQEXOO Ȋ/RZHU (VWLPDWHȋ PHDQV WKH ORZ HVWLPDWH SURYLGHG E\ /\RQ 7XUQEXOO WR WKH 6HOOHU LQ UHODWLRQ WR HDFK ΖWHP RU LQ UHODWLRQ WR DQ\ ΖWHP ZKLFK /\RQ 7XUQEXOO KROGV RQ EHKDOI RI WKH 6HOOHU Ȋ/\RQ 7XUQEXOOȋ PHDQV WKH FRPSDQ\ ZKLFK KDV LWV UHJLVWHUHG RɝFH DW %URXJKWRQ 3ODFH (GLQEXUJK (+ 55 UHJLVWHUHG LQ 6FRWODQG 1R Ȋ)RUJHU\ȋ LV DQ LPLWDWLRQ LQWHQGHG E\ WKH PDNHU RU DQ\ RWKHU SHUVRQ WR GHFHLYH DV WR EXW QRW OLPLWHG WR DXWKRUVKLS DWWULEXWLRQ RULJLQ DXWKHQWLFLW\ VW\OH GDWH DJH SHULRG SURYHQDQFH DQG RU FXOWXUH DW WKH VDOH GDWH KDG D YDOXH PDWHULDOO\ OHVV WKDQ LW ZRXOG KDYH KDG LI WKH ORW KDG QRW EHHQ VXFK DQ LPLWDWLRQ DQG ZKLFK LV QRW VWDWHG WR EH VXFK DQ LPLWDWLRQ LQ DQ\ GHVFULSWLRQ RI WKH ORW $ ORW ZLOO QRW EH D IRUJHU\ E\ ZD\ RI DQ\ GDPDJH UHVWRUDWLRQ DQG RU PRGLȴFDWLRQ ZRUN LQFOXGLQJ UHSDLQWLQJ RU RYHU SDLQWLQJ RQ WKH ORW ZKHUH WKDW GDPDJH UHVWRUDWLRQ RU PRGLȴFDWLRQ ZRUN GRHV QRW VXEVWDQWLDOO\ D΍HFW WKH LGHQWLW\ RI WKH ORW DV RQH FRQIRUPLQJ WR WKH GHVFULSWLRQ RI WKH ORW Ȋ1HW 6DOH 3URFHHGVȋ DUH WKH +DPPHU 3ULFH OHVV FRPPLVVLRQV DQG RWKHU FKDUJHV RI WKH /RW VROG WR WKH H[WHQW UHFHLYHG E\ /\RQ 7XUQEXOO LQ FOHDUHG IXQGV Ȋ3URSRVHG 6DOHȋ PHDQV WKH LQWHQGHG VDOH WKURXJK ZKLFK WKH LWHPV ZLOO EH VROG RQ Ȋ3XUFKDVH 3ULFHȋ LV WKH +DPPHU 3ULFH DQG DSSOLFDEOH %X\HUȆV 3UHPLXP Ȋ5HVHUYHȋ PHDQV WKH ORZHVW SULFH EHORZ ZKLFK DQ LWHP FDQQRW EH VROG Ȋ7HUPV RI FRQVLJQPHQWȋ PHDQV WKH VWLSXODWHG WHUPV DQG UDWHV RI FRPPLVVLRQ RQ ZKLFK WKH $XFWLRQHHU DFFHSWV LQVWUXFWLRQV IURP 6HOOHUV RU WKHLU DJHQWV Ȋ8SSHU (VWLPDWHȋ PHDQV WKH KLJK HVWLPDWH SURYLGHG E\ /\RQ 7XUQEXOO WR WKH 6HOOHU LQ UHODWLRQ WR HDFK ΖWHP RU LQ UHODWLRQ WR DQ\ ΖWHP ZKLFK /\RQ 7XUQEXOO KROGV RQ EHKDOI RI WKH 6HOOHU Ȋ<RXȋ Ȋ<RXUȋ PHDQV WKH 6HOOHU 7KH 6HOOHU PHDQV \RX DUH WKH RZQHU RI WKH ORW RU LI \RX DUH QRW WKH RZQHU RI WKH ORW ZKHWKHU RU QRW \RX KDYH QRWLȴHG XV WKDW \RX DUH DFWLQJ DV DQ DJHQW IRU D SULQFLSDO \RX DUH GXO\ DXWKRULVHG E\ WKH RZQHU RI WKH ORW WR VHOO LW Ȋ:LWKRXW 5HVHUYHȋ PHDQV ZKHUH WKHUH LV QR PLQLPXP SULFH DW ZKLFK D ORW PD\ EH VROG ZKHWKHU DW DXFWLRQ RU E\ SULYDWH WUHDW\ Ȋ8Vȋ Ȋ2XUȋ Ȋ:Hȋ HWF UHIHUV WR /\RQ 7XUQEXOO /WG 7KH VLQJXODU LQFOXGHV WKH SOXUDO DQG YLFH YHUVD DV DSSURSULDWH 2. WARRANTY OF TITLE AND AVAILABILITY 7KH 6HOOHU ZDUUDQWV D WKDW \RX DUH WKH WUXH RZQHU RI WKH SURSHUW\ FRQVLJQHG RU DUH SURSHUO\ DXWKRULVHG E\ WKH WUXH RZQHU WR FRQVLJQ LW IRU VDOH DQG DUH DEOH WR WUDQVIHU JRRG DQG PDUNHWDEOH WLWOH WR WKH SURSHUW\ IUHH IURP DQ\ WKLUG SDUW\ FODLPV E WKDW DOO UHTXLUHPHQWV KDYH EHHQ FRPSOLHG ZLWK OHJDO RU RWKHUZLVH UHODWLQJ WR DQ\ H[SRUW RU LPSRUW RI WKH SURSHUW\ FRQVLJQHG DOO GXWLHV DQG WD[HV LQ UHVSHFW RI WKH H[SRUW RU LPSRUW RI WKH ORW KDYH XQOHVV DJUHHG LQ ZULWLQJ ZLWK XV EHHQ SDLG DQG VR IDU DV \RX DQG DQ\ SULQFLSDO IRU ZKRP WKH\ DUH DFWLQJ LQ UHODWLRQ WR WKH ORW DUH DZDUH DOO WKLUG SDUWLHV KDYH FRPSOLHG ZLWK VXFK UHTXLUHPHQWV LQ WKH SDVW F WKDW \RX KDYH SURYLGHG /\RQ 7XUQEXOO ZLWK DQ\ DQG DOO LQIRUPDWLRQ FRQFHUQLQJ WKH LWHPȇV SURYHQDQFH RU DQ\ FRQFHUQV H[SUHVVHG E\ WKLUG SDUWLHV FRQFHUQLQJ LWV RZQHUVKLS FRQGLWLRQ DXWKHQWLFLW\ DWWULEXWLRQ DQG H[SRUW RU LPSRUW KLVWRU\ DQG G 8QOHVV WKH 6HOOHU DGYLVHV /\RQ 7XUQEXOO LQ ZULWLQJ WR WKH FRQWUDU\ RQ GHOLYHU\ RI WKH LWHP WR /\RQ 7XUQEXOO WKHUH DUH QR UHVWULFWLRQV RQ /\RQ 7XUQEXOO ULJKWV WR UHSURGXFH SKRWRJUDSKV RU RWKHU LPDJHV RI WKH LWHP LQ FRQQHFWLRQ ZLWK WKH VDOH RU DQ\ RWKHU PDUNHWLQJ ZKLFK ZLOO EH GRQH LQ DFFRUGDQFH ZLWK JRRG WDVWH DQG GHFHQF\

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ΖW PD\ QRW EH UHOLHG RQ DV D SUHGLFWLRQ RI WKH VHOOLQJ SULFH RU YDOXH RI WKH ΖWHP DQG PD\ LQ /\RQ 7XUQEXOOȇV DEVROXWH GLVFUHWLRQ EH UHYLVHG DW DQ\ WLPH G 7KH 6HOOHU DFNQRZOHGJHV WKDW DWWULEXWLRQ RI ΖWHPV LV D PDWWHU RI RSLQLRQ DQG QRW RI IDFW DQG LV GHSHQGHQW XSRQ DPRQJVW RWKHU WKLQJV LQIRUPDWLRQ SURYLGHG E\ WKH 6HOOHU WKH FRQGLWLRQ RI WKH SURSHUW\ WKH GHJUHH RI UHVHDUFK H[DPLQDWLRQ RU WHVWLQJ WKDW LV SRVVLEOH RU SUDFWLFDO LQ WKH FLUFXPVWDQFHV DQG WKH VWDWXV RI JHQHUDOO\ DFFHSWHG H[SHUW RSLQLRQ DW WKH WLPH RI FDWDORJXLQJ 4. TERMS OF SALE 7KH 6HOOHU DFNQRZOHGJHV WKDW ORWV DUH VROG VXEMHFW WR WKHVH &RQGLWLRQV DQG RQ WKH 7HUPV RI &RQVLJQPHQW DV QRWLȴHG WR WKH FRQVLJQRU DW WKH WLPH RI WKH HQWU\ RI WKH ORW 5. STANDARD SELLER FEES AND CHARGES 6XEMHFW WR 9$7

&RPPLVVLRQ LV FKDUJHG RQ WKH VHOOLQJ SULFH RI HDFK ORW VXEMHFW WR D PLQLPXP FKDUJH RI e /RVV DQG GDPDJH ZDUUDQW\ RQ YDOXH RI ORWV VROG 3KRWRJUDSK\ PLQ FKDUJH e 2QOLQH /LVWLQJ e SHU ORW 7UDQVSRUW ΖWHPV IRU VDOH PXVW EH FRQVLJQHG WR WKH VDOH URRP E\ DQ\ VWDWHG GHDGOLQH DQG DW \RXU H[SHQVH :H PD\ EH DEOH WR DVVLVW \RX ZLWK WKLV SURFHVV :KHQ RUJDQLVHG RQ WKH 6HOOHUȇV EHKDOI WKH SURYLVLRQ RI WUDQVSRUW ZLOO EH FRQWUDFWHG WR WKLUG SDUWLHV )HHV IRU WUDQVSRUW ZLOO EH GHGXFWHG DW WKH LQLWLDO VHWWOHPHQW ΖOOXVWUDWLRQV 7KH FRVW RI DQ\ LOOXVWUDWLRQV ZLOO EH ERUQH E\ WKH 6HOOHU XQOHVV DJUHHG RWKHUZLVH SULRU 7KH FRS\ULJKW LQ UHVSHFW RI VXFK LOOXVWUDWLRQV VKDOO EH WKH SURSHUW\ RI XV WKH DXFWLRQHHUV DV LV WKH WH[W RI WKH FDWDORJXH 6. RESERVES D <RX DUH HQWLWOHG WR SODFH SULRU WR WKH DXFWLRQ D UHVHUYH RQ DQ\ ORW FRQVLJQHG EHLQJ WKH PLQLPXP KDPPHU SULFH DW ZKLFK WKDW ORW PD\ EH VROG 5HVHUYHV PXVW EH UHDVRQDEOH DQG ZH PD\ GHFOLQH WR R΍HU JRRGV ZKLFK LQ RXU RSLQLRQ ZRXOG EH VXEMHFW WR DQ XQUHDVRQDEO\ KLJK UHVHUYH $ ORW ZLOO EH VROG ZLWKRXW UHVHUYH XQOHVV D UHVHUYH KDV EHHQ DJUHHG E )LUP UHVHUYHV PD\ EH QR JUHDWHU WKDQ ORZHU SUH VDOH HVWLPDWH OHYHO F $ UHVHUYH RQFH VHW FDQQRW EH FKDQJHG H[FHSW ZLWK RXU DJUHHPHQW G <RX PD\ QRW ELG RU LQVWUXFW RU SHUPLW DQ\ RWKHU SHUVRQ WR ELG RQ \RXU EHKDOI RQ \RXU RZQ SURSHUW\ ΖI WKH 6HOOHU EUHDFKHV WKLV SURKLELWLRQ /\RQ 7XUQEXOO PD\ WUHDW WKH 6HOOHU DV ERXQG DV 6HOOHU DQG DV %X\HU EXW ZLWKRXW WKH EHQHȴ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ΖI DQ\ ORVV RU GDPDJH VKRXOG RFFXU WR WKH ORW GXULQJ WKH SHULRG LGHQWLȴHG LQ SDUDJUDSKV D DERYH /\RQ 7XUQEXOOȇV OLDELOLW\ WR FRPSHQVDWH WKH 6HOOHU LQ UHVSHFW RI WKDW ORVV VKDOO EH UHVWULFWHG WR D PD[LPXP RI WKH XSSHU HVWLPDWH RU DFWXDO ORVV LQFXUUHG ZKLFKHYHU LV ORZHU 7KLV FRPSHQVDWLRQ ZLOO EH VXEMHFW WR D GHGXFWLRQ RI D ORVV ZDUUDQW\ IHH VXEMHFW WR 9$7

8. UNSOLD ITEMS ΖI DQ LWHP LV XQVROG LW PD\ ZLWK \RXU FRQVHQW EH UH R΍HUHG DW D IXWXUH VDOH :KHUH LQ RXU RSLQLRQ DQ LWHP LV QRW VXLWDEOH IRU D IXWXUH VDOH ZH PD\ HLWKHU UHTXHVW D \RX FROOHFW VXFK LWHPV IURP WKH VDOHURRP SURPSWO\ RQ EHLQJ VR LQIRUPHG :H VKDOO EH HQWLWOHG WR FKDUJH \RX IRU VWRUDJH FRVWV FKDUJHV VKDOO EH PDGH DW D UHDVRQDEOH GDLO\ UDWH RU E VXJJHVW WKDW WKH LWHP EH WUDQVIHUUHG WR D VHFRQGDU\ VDOHURRP IRU VDOH ZLWKRXW UHVHUYH $OO WUDQVIHUUHG ORWV ZLOO EH VROG IRU WKH EHVW SULFH RQ WKH GD\ WKLV PD\ QRW EHDU DQ\ UHȵHFWLRQ RQ WKH LWHPȇV RULJLQDO HVWLPDWH /\RQ 7XUQEXOO DUH QRW OLDEOH IRU DQ\ LWHPV ZKHWKHU LW EH VHOOLQJ SULFH RU ORVV GDPDJH ZKHQ WUDQVIHUUHG $IWHUVDOHV :H UHVHUYH WKH ULJKW WR DFFHSW DQ DIWHU DXFWLRQ R΍HU RQ D ORW RQ EHKDOI RI WKH VHOOHU DW WKH DJUHHG UHVHUYH SULFH RU DERYH IRU XS WR KRXUV DIWHU WKH RULJLQDO DXFWLRQ ΖQ ZKLFK FDVH WKH VDPH FKDUJHV ZLOO EH SD\DEOH DV LI VXFK ORWV KDG EHHQ VROG DW DXFWLRQ DQG VR IDU DV DSSURSULDWH WKHVH &RQGLWLRQV DSSO\ 9. LOT WITHDRAWAL Ζ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ȆV DXWKHQWLFLW\ RU DWWULEXWLRQ RU LL LW UHDVRQDEO\ GRXEWV WKH DFFXUDF\ RI DQ\ RI WKH 6HOOHUȇV ZDUUDQWLHV RU LLL WKH 6HOOHU EUHDFKHV DQ\ SURYLVLRQV RI WKH &RQGLWLRQV RI 6DOH LQ DQ\ PDWHULDO UHVSHFW RU LY WKH ORW VX΍HUV IURP ORVV RU GDPDJH VR WKDW LW LV QRW LQ WKH VWDWH LQ ZKLFK LW ZDV ZKHQ /\RQ 7XUQEXOO WRRN GHOLYHU\ RI LW G LI DQ LWHP LV ZLWKGUDZQ IURP VDOH XQGHU &RQGLWLRQ F L RU LY WKH 6HOOHU VKDOO QRW EH FKDUJHG D ZLWKGUDZDO IHH DQG WKH LWHP VKDOO EH UHWXUQHG WR WKH 6HOOHU RU GHDOW ZLWK SXUVXDQW WR &ODXVH DV WKH 6HOOHU GHFLGHV 10. AUTHORITY TO DEDUCT COMMISSION AND (;3(16(6 $1' 5(7$Ζ1 35(0Ζ80 $1' Ζ17(5(67 7KH 6HOOHU DXWKRULVHV XV WR GHGXFW FRPPLVVLRQ DW WKH VWDWHG UDWH DQG DOO H[SHQVHV LQFXUUHG IRU \RXU DFFRXQW IURP WKH KDPPHU SULFH DQG FRQVHQWV WR RXU ULJKW WR UHWDLQ EHQHȴ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ΖI WKH 6HOOHU HOHFWV WR WDNH DFWLRQ DJDLQVW DQ\ %X\HU RQ LWV RZQ EHKDOI /\RQ 7XUQEXOO ZLOO SURYLGH WKH 6HOOHU ZLWK VXFK DVVLVWDQFH DV PD\ EH UHDVRQDEO\ QHFHVVDU\ WR SXUVXH WKDW DFWLRQ G 7KH 6HOOHU KHUHE\ DJUHHV WR LQIRUP /\RQ 7XUQEXOO RI DQ\ DFWLRQ ZKLFK LW FKRRVHV WR WDNH DJDLQVW WKH %X\HU WR HQIRUFH SD\PHQW RI WKH DPRXQW GXH WR WKH 6HOOHU H ΖQ WKH HYHQW WKDW D %X\HU IDLOV WR SD\ IRU D ORW LQ DFFRUGDQFH ZLWK WKH &RQGLWLRQV RI 6DOH IRU %X\HUV WKDW ORW ZLOO EH WUHDWHG LQ WKH VDPH ZD\ DV DQ XQVROG RU FROOHFWHG ORW 12. SETTLEMENT PAYMENTS 6XEMHFW WR IXOO SD\PHQW E\ WKH %X\HU SD\PHQW RI WKH QHW SURFHHGV RI VDOH GXH WR \RX ZLOO EH PDGH RYHU WR \RX ZRUNLQJ GD\V IROORZLQJ D VDOH 3URYLGHG ZH KDYH UHFHLYHG FOHDUHG IXQGV SD\PHQW ZLOO EH PDGH E\ FKHTXH RU %$&6 LI UHTXHVWHG 13. SALE BY PRIVATE TREATY D 7KH VDPH &RQGLWLRQV RI 6DOH 6HOOHUV VKDOO DSSO\ WR VDOHV E\ SULYDWH WUHDW\ E 3ULYDWH WUHDW\ VDOHV PDGH XQGHU WKHVH &RQGLWLRQV DUH GHHPHG WR EH VDOHV E\ DXFWLRQ DQG VXEMHFW WR RXU DJUHHG FKDUJHV IRU 6HOOHUV DQG %X\HUV F /\RQ 7XUQEXOO XQGHUWDNHV WR LQIRUP WKH 6HOOHU RI DQ\ R΍HUV LW UHFHLYHV LQ UHODWLRQ WR DQ LWHP SULRU WR

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ȴUVW FODVV PDLO LQ ZKLFK FDVH LW VKDOO EH GHHPHG WR KDYH EHHQ UHFHLYHG E\ WKH DGGUHVVHH KRXUV DIWHU SRVWLQJ F 1RWLFHV WR /\RQ 7XUQEXOO VKRXOG EH LQ ZULWLQJ DQG DGGUHVVHG WR WKH 0DQDJLQJ 'LUHFWRU DW %URXJKWRQ 3ODFH (GLQEXUJK (+ 55 TXRWLQJ WKH UHIHUHQFH QXPEHU VSHFLȴHG DW WKH EHJLQQLQJ RI WKH VDOH FDWDORJXH

G 6KRXOG DQ\ SURYLVLRQ RI WKHVH &RQGLWLRQV RI 6DOH EH KHOG XQHQIRUFHDEOH IRU DQ\ UHDVRQ WKH UHPDLQLQJ SURYLVLRQV VKDOO UHPDLQ LQ IXOO IRUFH DQG H΍HFW H 7KHVH &RQGLWLRQV RI 6DOH DUH QRW DVVLJQDEOH E\ HLWKHU SDUW\ ZLWKRXW WKH RWKHUȇV SULRU ZULWWHQ FRQVHQW EXW DUH ELQGLQJ RQ WKH VHOOHUȇV VXFFHVVRU DQG UHSUHVHQWDWLYHV 1R DFW RPLVVLRQ RU GHOD\ E\ /\RQ 7XUQEXOO VKDOO EH GHHPHG D ZDLYHU RU UHOHDVH RI DQ\ RI LWV ULJKWV I 7KH FRQWUDFW EHWZHHQ WKH SDUWLHV PD\ EH YDULHG E\ WKH SDUWLHV E\ DJUHHPHQW DQG LQ ZULWLQJ 16. RECISSION OF SALES /\RQ 7XUQEXOO PD\ UHVFLQG WKH VDOH ZKHUH LW UHDVRQDEO\ EHOLHYHV WKDW WKH ORW IDOOV ZLWKLQ WKH WHUPV DV GHȴQHG E\ /\RQ 7XUQEXOOȇV $XWKHQWLFLW\ *XDUDQWHH VHH %X\HUȇV FRQGLWLRQV LQ WKLV HYHQW /\RQ 7XUQEXOO VKDOO VHQG WKH 6HOOHU QRWLFH RI VXFK UHVFLVVLRQ 7KH 6HOOHU DJUHHV WR UHWXUQ WR /\RQ 7XUQEXOO WKH 1HW 6DOH 3URFHHGV UHFHLYHG IURP WKH VDOH RI VXFK ORW ZLWK DQ\ DGGLWLRQDO H[SHQVHV LQFXUUHG E\ /\RQ 7XUQEXOO /\RQ 7XUQEXOO ZLOO UHWXUQ WKH SURSHUW\ WR WKH 6HOOHU XSRQ UHFHLSW RI WKH 1HW 6DOH 3URFHHGV DQG ([SHQVHV XQOHVV SUHYHQWHG LQ GRLQJ VR E\ UHDVRQV RXWZLWK /\RQ 7XUQEXOOȇV FRQWURO 17. AGENCY /\RQ 7XUQEXOO DFWV DV DJHQW VROHO\ IRU DQG LQ WKH LQWHUHVWV RI WKH 6HOOHU :H GR QRW DFW IRU %X\HUV LQ WKLV

UROH DQG GRHV QRW JLYH DGYLFH WR %X\HUV :KHQ /\RQ 7XUQEXOO PDNH D VWDWHPHQW DERXW D ORW LW LV GRLQJ VR RQ EHKDOI RI WKH 6HOOHU RI WKH ORW 7KH $XFWLRQHHU QRUPDOO\ DFWV DV DJHQW RQO\ DQG GLVFODLPV DQ\ UHVSRQVLELOLW\ IRU GHIDXOW E\ 6HOOHUV RU %X\HUV 18. DATA PROTECTION ΖQ FRQQHFWLRQ ZLWK WKH PDQDJHPHQW DQG RSHUDWLRQ RI RXU EXVLQHVV DQG WKH PDUNHWLQJ DQG VXSSO\ RI /\RQ 7XUQEXOOȇV VHUYLFHV RU DV UHTXLUHG E\ ODZ ZH PD\ DVN WKH 6HOOHU WR SURYLGH SHUVRQDO LQIRUPDWLRQ DERXW WKHPVHOYHV RU REWDLQ LQIRUPDWLRQ DERXW WKH 6HOOHU IURP WKLUG SDUWLHV H J FUHGLW LQIRUPDWLRQ /\RQ 7XUQEXOO ZLOO QRW JLYH RXW SHUVRQDO LQIRUPDWLRQ H[FHSW DV PD\ EH UHTXLUHG E\ ODZ Ζ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

Conditions of sale for buyers 7KH $XFWLRQHHU FDUULHV RQ EXVLQHVV ZLWK ELGGHUV %X\HUV DQG DOO WKRVH SUHVHQW LQ WKH DXFWLRQ URRP SULRU WR RU LQ FRQQHFWLRQ ZLWK D VDOH RQ WKH IROORZLQJ *HQHUDO &RQGLWLRQV DQG RQ VXFK RWKHU WHUPV FRQGLWLRQV DQG QRWLFHV DV PD\ EH UHIHUUHG WR KHUHLQ 1. DEFINITIONS ΖQ WKHVH &RQGLWLRQV RI 6DOH %X\HUV Ȋ$XFWLRQHHUȋ PHDQV /\RQ 7XUQEXOO /WG 5HJLVWHUHG LQ 6FRWODQG 1R _ 5HJLVWHUHG DGGUHVV %URXJKWRQ 3ODFH (GLQEXUJK (+ 55 RU LWV DXWKRULVHG DXFWLRQHHU DV DSSURSULDWH Ȋ+DPPHU SULFHȋ PHDQV WKH OHYHO RI ELGGLQJ UHDFKHG DW RU DERYH DQ\ UHVHUYH ZKHQ WKH $XFWLRQHHU EULQJV GRZQ WKH KDPPHU Ȋ/RWȋ PHDQV HDFK ΖWHP R΍HUHG IRU VDOH E\ /\RQ 7XUQEXOO Ȋ3XUFKDVH 3ULFHȋ LV WKH +DPPHU 3ULFH DQG DSSOLFDEOH %X\HUȇV 3UHPLXP Ȋ5HVHUYHȋ PHDQV WKH ORZHVW SULFH EHORZ ZKLFK DQ LWHP FDQQRW EH VROG Ȋ7RWDO DPRXQW GXHȋ PHDQV WKH KDPPHU SULFH LQ UHVSHFW RI WKH ORW VROG WRJHWKHU ZLWK DQ\ SUHPLXP 9DOXH $GGHG 7D[ RU RWKHU WD[HV FKDUJHDEOH DQG DQ\ DGGLWLRQDO FKDUJHV SD\DEOH E\ D GHIDXOWLQJ %X\HU XQGHU WKHVH &RQGLWLRQV Ȋ<RXȋ Ȋ<RXUȋ PHDQV WKH %X\HU Ȋ8Vȋ Ȋ2XUȋ Ȋ:Hȋ HWF UHIHUV WR /\RQ 7XUQEXOO /WG 7KH VLQJXODU LQFOXGHV WKH SOXUDO DQG YLFH YHUVD DV DSSURSULDWH 2. AGENCY /\RQ 7XUQEXOO DFWV DV DJHQW VROHO\ IRU DQG LQ WKH LQWHUHVWV RI WKH 6HOOHU :H GR QRW DFW IRU %X\HUV LQ WKLV UROH DQG GRHV QRW JLYH DGYLFH WR %X\HUV :KHQ /\RQ 7XUQEXOO PDNH D VWDWHPHQW DERXW D ORW LW LV GRLQJ VR RQ EHKDOI RI WKH 6HOOHU RI WKH ORW 7KH $XFWLRQHHU QRUPDOO\ DFWV DV DJHQW RQO\ DQG GLVFODLPV DQ\ UHVSRQVLELOLW\ IRU GHIDXOW E\ 6HOOHUV RU %X\HUV 3. BIDDING PROCEDURES AND THE BUYER D %LGGHUV DUH UHTXLUHG WR UHJLVWHU WKHLU SDUWLFXODUV EHIRUH ELGGLQJ DQG WR VDWLVI\ DQ\ VHFXULW\ DQG FUHGLW UHIHUHQFHV RU DUUDQJHPHQWV EHIRUH HQWHULQJ WKH DXFWLRQ URRP WR YLHZ RU ELG E +LJK 9DOXH /RWV DQG +LJK &XPXODWLYH 9DOXH RI /RWV ΖI \RX ZLVK WR ELG RQ DQ\ +LJK 9DOXH /RW D ORW ZLWK D ORZHU HVWLPDWH RI e RU DERYH RU LI \RX DUH ELGGLQJ RQ VHYHUDO ORWV ZLWK D WRWDO ORZHU HVWLPDWH YDOXH RI e RU DERYH \RX DUH LQYLWHG WR FRPSOHWH WKH +LJK 9DOXH /RW SUH UHJLVWUDWLRQ $IWHU \RX KDYH VXFFHVVIXOO\ UHJLVWHUHG DV D ELGGHU ZLWK /\RQ DQG 7XUQEXOO \RX VKRXOG FRPSOHWH WKH +LJK 9DOXH /RW SUH UHJLVWUDWLRQ EHIRUH WKH GDWH RI VDOH E\ FRQWDFWLQJ WKH 2ɝFH 0DQDJHU RU RQ WKH GDWH RI VDOH DW WKH UHJLVWUDWLRQ DUHD 8QOHVV RWKHUZLVH DJUHHG E\ XV \RX ZLOO EH SHUPLWWHG WR ELG IRU +LJK 9DOXH /RWV RQO\ LI /\RQ DQG 7XUQEXOO KDV FRQȴUPHG \RXU SD\PHQW RI GHSRVLW DQG \RXU FRPSOHWLRQ RI WKH +LJK 9DOXH /RW SUH UHJLVWUDWLRQ EHIRUH WKH VDOH 7KH 'HSRVLW UHTXLUHG ZLOO EH RI WKH ORZHU HVWLPDWH 8SRQ SUH UHJLVWUDWLRQ \RX VKRXOG SD\ WKH GHSRVLW RU VXFK RWKHU VXP DV GHWHUPLQHG E\ /\RQ DQG 7XUQEXOO GHSHQGDQW RQ FLUFXPVWDQFHV E\ ZD\ RI EDQN WUDQVIHU RU FUHGLW FDUG V DFFHSWDEOH WR /\RQ DQG 7XUQEXOO 3OHDVH QRWH WKDW /\RQ DQG 7XUQEXOO GRHV QRW DFFHSW SD\PHQW IURP WKLUG SDUWLHV DQG WKLV DOVR DSSOLHV WR DJHQWV ΖI \RX DUH QRW VXFFHVVIXO LQ DQ\ ELG DQG GR QRW RZH /\RQ DQG 7XUQEXOO DQ\ GHEW WKH GHSRVLW ZLOO EH UHIXQGHG WR \RX E\ ZD\ RI ZLUH WUDQVIHU RU VXFK RWKHU PHWKRGV DV

GHWHUPLQHG E\ /\RQ DQG 7XUQEXOO 3OHDVH PDNH VXUH WKDW \RX SURYLGH \RXU EDQN GHWDLOV LQ WKH SUH UHJLVWUDWLRQ IRUP 7KH H[FKDQJH UDWH SURYLGHG WR XV E\ WKH EDQN RQ WKH GDWH RI H[FKDQJH LV ȴQDO :H ZLOO DUUDQJH WR UHIXQG WKH GHSRVLW WR \RX ZLWKLQ VHYHQ GD\V DIWHU WKH GDWH RI VDOH KRZHYHU ZH GR QRW JXDUDQWHH ZKHQ \RX ZLOO UHFHLYH WKH SD\PHQW GXH WR WKH YDULDQFH LQ WLPH IRU EDQNV WR SURFHVV IXQG WUDQVIHUV 8SRQ VXFFHVVIXO SUH UHJLVWUDWLRQ \RX ZLOO EH JLYHQ D QXPEHUHG +LJK 9DOXH /RW SDGGOH IRU LGHQWLȴFDWLRQ SXUSRVHV 7KH DXFWLRQHHU ZLOO XVXDOO\ RQO\ DFFHSW ELGV PDGH ZLWK WKH +LJK 9DOXH /RW SDGGOH RU E\ LWV +LJK 9DOXH /RW UHJLVWHUHG ELGGHU 7KLV DSSOLHV WR VDOHURRP WHOHSKRQH DQG DEVHQWHH ELGV /\RQ DQG 7XUQEXOO KDV WKH ULJKW WR FKDQJH WKH +LJK 9DOXH /RW SUH UHJLVWUDWLRQ SURFHGXUHV DQG UHTXLUHPHQWV IURP WLPH WR WLPH ZLWKRXW QRWLFH F 7KH PDNHU RI WKH KLJKHVW ELG DFFHSWHG E\ WKH $XFWLRQHHU FRQGXFWLQJ WKH VDOH VKDOO EH WKH %X\HU DQG DQ\ GLVSXWH VKDOO EH VHWWOHG DW WKH $XFWLRQHHUȇV DEVROXWH GLVFUHWLRQ G 2QFH PDGH QR ELG PD\ EH ZLWKGUDZQ H 2XU ULJKW WR ELG RQ EHKDOI RI 6HOOHUV LV H[SUHVVO\ UHVHUYHG XS WR WKH DPRXQW RI DQ\ UHVHUYH I 7KH ULJKW WR UHIXVH DQ\ ELG LV DOVR UHVHUYHG J &RPPLVVLRQ %LGV :KLOH SURVSHFWLYH %X\HUV DUH VWURQJO\ DGYLVHG WR DWWHQG WKH DXFWLRQ DQG DUH DOZD\V UHVSRQVLEOH IRU DQ\ GHFLVLRQ WR ELG IRU D SDUWLFXODU ORW DQG VKDOO EH DVVXPHG WR KDYH FDUHIXOO\ LQVSHFWHG DQG VDWLVȴHG WKHPVHOYHV DV WR LWV FRQGLWLRQ ZH VKDOO LI VR LQVWUXFWHG FOHDUO\ DQG LQ ZULWLQJ H[HFXWH ELGV RQ WKHLU EHKDOI 1HLWKHU WKH $XFWLRQHHU QRU RXU HPSOR\HHV QRU DJHQWV VKDOO EH UHVSRQVLEOH IRU DQ\ IDLOXUH WR GR VR :KHUH WZR RU PRUH FRPPLVVLRQ ELGV DW WKH VDPH OHYHO DUH UHFRUGHG ZH UHVHUYH WKH ULJKW LQ RXU DEVROXWH GLVFUHWLRQ WR SUHIHU WKH ȴUVW ELG VR PDGH K 7HOHSKRQH %LGV ΖI D SURVSHFWLYH %X\HU PDNHV DUUDQJHPHQWV ZLWK XV SULRU WR WKH FRPPHQFHPHQW RI WKH VDOH ZH ZLOO XVH UHDVRQDEOH H΍RUWV WR FRQWDFW WKHP WR HQDEOH WKHP WR SDUWLFLSDWH LQ ELGGLQJ E\ WHOHSKRQH :H GR QRW DFFHSW OLDELOLW\ IRU IDLOXUH WR GR VR RU IRU HUURUV DQG RPLVVLRQV LQ FRQQHFWLRQV K 2QOLQH %LGGLQJ :H ZLOO XVH UHDVRQDEOH H΍RUWV WR FDUU\ RXW RQOLQH ELGV DQG GR QRW DFFHSW OLDELOLW\ IRU HTXLSPHQW IDLOXUH LQDELOLW\ WR DFFHVV WKH LQWHUQHW RU VRIWZDUH PDOIXQFWLRQV UHODWHG WR H[HFXWLRQ RI RQOLQH ELGV OLYH ELGGLQJ 4. INCREMENTS %LGGLQJ LQFUHPHQWV VKDOO EH DW WKH $XFWLRQHHUȇV VROH GLVFUHWLRQ 5. THE PURCHASE PRICE )RU HDFK ORW SXUFKDVHG D %X\HUȇV 3UHPLXP RI RI WKH KDPPHU SULFH RI HDFK ORW XS WR DQG LQFOXGLQJ e SOXV IURP e WKHUHDIWHU 9$7 DW WKH DSSURSULDWH UDWH LV FKDUJHG RQ WKH %X\HUȇV 3UHPLXP 1R 9$7 LV SD\DEOH RQ WKH KDPPHU SULFH RU SUHPLXP IRU SULQWHG ERRNV RU XQIUDPHG PDSV ERXJKW DW DXFWLRQ /LYH RQOLQH ELGGLQJ LV VXEMHFW WR DQ DGGLWLRQDO SUHPLXP FKDUJHG E\ WKH OLYH ELGGLQJ VHUYLFH SURYLGHU ΖQYDOXDEOH 7KLV DGGLWLRQDO SUHPLXP LV VXEMHFW WR 9$7 DW WKH DSSURSULDWH UDWH DV DERYH 9$/8( $''(' 7$; 9DOXH $GGHG 7D[ LV FKDUJHG DW WKH DSSURSULDWH UDWH SUHYDLOLQJ E\ ODZ DW WKH GDWH RI VDOH DQG LV SD\DEOH E\ %X\HUV RI UHOHYDQW ORWV /RWV Dɝ[HG ZLWK ȍ 9DOXH $GGHG 7D[ RQ WKH KDPPHU

SULFH LV LPSRVHG E\ ODZ RQ DOO LWHPV Dɝ[HG ZLWK D GDJJHU ȍ 7KLV LPSRVLWLRQ RI 9$7 PD\EH EHFDXVH WKH 6HOOHU LV UHJLVWHUHG IRU 9$7 ZLWKLQ WKH (XURSHDQ 8QLRQ DQG LV QRW RSHUDWLQJ XQGHU D 0DUJLQ 6FKHPH /RWV Dɝ[HG ZLWK $ UHGXFHG UDWH RI 9DOXH $GGHG 7D[ RQ WKH KDPPHU SULFH RI LV SD\DEOH 7KLV LQGLFDWHV WKDW D ORW KDV EHHQ LPSRUWHG IURP RXWZLWK WKH (XURSHDQ 8QLRQ 7KLV UHGXFHG UDWH LV DSSOLFDEOH WR $QWLTXH LWHPV /RWV Dɝ[HG ZLWK >Ŷ@ 6WDQGDUG UDWH RI 9DOXH $GGHG 7D[ RQ WKH KDPPHU SULFH DQG SUHPLXP LV SD\DEOH 7KLV DSSOLHV WR LWHPV WKDW KDYH EHHQ LPSRUWHG IURP RXWZLWK WKH (XURSHDQ 8QLRQ DQG GR QRW IDOO ZLWKLQ WKH UHGXFHG UDWH FDWHJRU\ RXWOLQHG DERYH 7. DROIT de SUITE 7KLV V\PERO i LQGLFDWHV ZRUNV ZKLFK PD\ EH VXEMHFW WR WKH 'URLW GH 6XLWH RU $UWLVWȇV 5HVDOH 5LJKW ZKLFK WRRN H΍HFW LQ WKH 8QLWHG .LQJGRP RQ WK )HEUXDU\ :H DUH UHTXLUHG WR FROOHFW D UR\DOW\ SD\PHQW IRU DOO TXDOLI\LQJ ZRUNV RI DUW 8QGHU QHZ OHJLVODWLRQ ZKLFK FDPH LQWR H΍HFW RQ VW -DQXDU\ WKLV DSSOLHV WR OLYLQJ DUWLVWV DQG DUWLVWV ZKR KDYH GLHG LQ WKH ODVW \HDUV 7KLV UR\DOW\ ZLOO EH FKDUJHG WR WKH %X\HU RQ WKH KDPPHU SULFH DQG LQ DGGLWLRQ WR WKH %X\HUȇV SUHPLXP ΖW ZLOO QRW DSSO\ WR ZRUNV ZKHUH WKH KDPPHU SULFH LV OHVV WKDQ Ȝ HXURV 7KH FKDUJH IRU ZRUNV RI DUW VROG DW DQG DERYH Ȝ HXURV DQG EHORZ Ȝ HXURV LV )RU LWHPV VHOOLQJ DERYH Ȝ HXURV FKDUJHV DUH FDOFXODWHG RQ D VOLGLQJ VFDOH $OO UR\DOW\ FKDUJHV DUH SDLG WR WKH 'HVLJQ DQG $UWLVWV &RS\ULJKW 6RFLHW\ Ȇ'$&6ȇ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e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ΖW LV WKH %X\HUȇV UHVSRQVLELOLW\ WR DVFHUWDLQ FROOHFWLRQ SURFHGXUHV SDUWLFXODUO\ LI WKH VDOH LV QRW EHLQJ KHOG DW RXU PDLQ VDOH URRP DQG WKH SRWHQWLDO VWRUDJH FKDUJHV

IRU ORWV QRW FROOHFWHG E\ WKH DSSURSULDWH WLPH ([SRUW RI JRRGV %X\HUV LQWHQGLQJ WR H[SRUW JRRGV VKRXOG DVFHUWDLQ D ZKHWKHU DQ H[SRUW OLFHQFH LV UHTXLUHG DQG E ZKHWKHU WKHUH LV DQ\ VSHFLȴF SURKLELWLRQ RQ LPSRUWLQJ JRRGV RI WKDW FKDUDFWHU H J LWHPV WKDW PD\ FRQWDLQ SURKLELWHG PDWHULDOV VXFK DV LYRU\ RU UKLQR KRUQ ΖW LV WKH EX\HUȇV VROH UHVSRQVLELOLW\ WR REWDLQ DQ\ UHOHYDQW H[SRUW RU LPSRUW OLFHQFH 7KH GHQLDO RI DQ\ OLFHQFH RU DQ\ GHOD\ LQ REWDLQLQJ OLFHQFHV VKDOO QHLWKHU MXVWLI\ WKH UHFHVVLRQ RI DQ\ VDOH QRW DQ\ GHOD\ LQ PDNLQJ IXOO SD\PHQW IRU WKH ORW 10. REMEDIES FOR NON·PAYMENT OR FAILURE TO COLLECT PURCHASES Ζ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ȴ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ȴHG 11. DESCRIPTIONS AND CONDITION :KLOVW ZH VHHN WR GHVFULEH ORWV DFFXUDWHO\ LW PD\ EH LPSUDFWLFDO IRU XV WR FDUU\ RXW H[KDXVWLYH GXH GLOLJHQFH RQ HDFK ORW 3URVSHFWLYH %X\HUV DUH JLYHQ DPSOH RSSRUWXQLWLHV WR YLHZ DQG LQVSHFW EHIRUH DQ\ VDOH DQG WKH\ DQG DQ\ LQGHSHQGHQW H[SHUWV RQ WKHLU EHKDOI PXVW VDWLVI\ WKHPVHOYHV DV WR WKH DFFXUDF\ RI DQ\ GHVFULSWLRQ DSSOLHG WR D ORW 3URVSHFWLYH %X\HUV DOVR ELG RQ WKH XQGHUVWDQGLQJ WKDW LQHYLWDEO\ UHSUHVHQWDWLRQV RU VWDWHPHQWV E\ XV DV WR DXWKRUVKLS JHQXLQHQHVV RULJLQ GDWH DJH SURYHQDQFH FRQGLWLRQ RU HVWLPDWHG VHOOLQJ SULFH LQYROYH PDWWHUV RI RSLQLRQ :H XQGHUWDNH WKDW DQ\ VXFK RSLQLRQ VKDOO EH KRQHVWO\ DQG UHDVRQDEO\ KHOG DQG RQO\ DFFHSW OLDELOLW\ IRU RSLQLRQV JLYHQ QHJOLJHQWO\ RU IUDXGXOHQWO\ 6XEMHFW WR WKH IRUHJRLQJ QHLWKHU ZH WKH DXFWLRQHHU RU RXU HPSOR\HHV RU DJHQWV DFFHSW OLDELOLW\ IRU WKH FRUUHFWQHVV RI VXFK RSLQLRQV DQG QR ZDUUDQWLHV ZKHWKHU UHODWLQJ WR GHVFULSWLRQ FRQGLWLRQ RU TXDOLW\ RI ORWV H[SUHVV LPSOLHG RU VWDWXWRU\ DUH JLYHQ 3OHDVH QRWH WKDW SKRWRJUDSKV LPDJHV SURYLGHG PD\ QRW EH IXOO\ UHSUHVHQWDWLYH RI WKH FRQGLWLRQ RI WKH ORW DQG VKRXOG QRW EH UHOLHG XSRQ DV LQGLFDWLYH RI WKH RYHUDOO FRQGLWLRQ RI WKH ORW &RQGLWLRQ UHSRUWV &RQGLWLRQ UHSRUWV DUH SURYLGHG RQ RXU ZHEVLWH RU XSRQ UHTXHVW 7KH DEVHQFH RI D UHSRUW GRHV QRW LPSO\ WKDW D ORW LV ZLWKRXW LPSHUIHFWLRQV /DUJH QXPEHUV RI VXFK UHTXHVWV DUH UHFHLYHG VKRUWO\ EHIRUH HDFK VDOH DQG GHSDUWPHQW VSHFLDOLVWV DQG DGPLQLVWUDWLRQ ZLOO HQGHDYRU WR UHVSRQG WR DOO UHTXHVWV DOWKRXJK ZH R΍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΍HFW WKH 6HOOHUȇV REOLJDWLRQV LQ DQ\ ZD\ (VWLPDWHV (VWLPDWHV DUH SODFHG RQ HDFK ORW WR KHOS %X\HUV JDXJH WKH VXPV LQYROYHG IRU WKH SXUFKDVH RI D SDUWLFXODU ORW (VWLPDWHV GR QRW LQFOXGH WKH %X\HUȇV 3UHPLXP RU 9$7 (VWLPDWHV DUH D PDWWHU RI RSLQLRQ DQG SUHSDUHG LQ DGYDQFH (VWLPDWHV PD\ EH VXEMHFW WR FKDQJH DQG DUH IRU JXLGDQFH RQO\ DQG VKRXOG QRW EH UHOLHG XSRQ &DWDORJXH $OWHUDWLRQV /RW GHVFULSWLRQV DQG HVWLPDWHV DUH SUHSDUHG LQ DGYDQFH RI WKH VDOH DQG PD\ EH VXEMHFW WR FKDQJH $Q\ DOWHUDWLRQV ZLOO EH DQQRXQFHG RQ WKH FDWDORJXH DOWHUDWLRQ VKHHW PDGH DYDLODEOH SULRU WR WKH VDOH ΖW LV WKH UHVSRQVLELOLW\ RI WKH %X\HU WR PDNH WKHPVHOYHV DZDUH WR DQ\ DOWHUDWLRQV ZKLFK PD\ KDYH RFFXUUHG (OHFWULFDO *RRGV DUH VROG DV ȊZRUNV RI DUWȋ RQO\ DQG LI ERXJKW IRU XVH PXVW EH FKHFNHG RYHU IRU FRPSOLDQFH ZLWK VDIHW\ UHJXODWLRQV E\ D TXDOLȴHG HOHFWULFLDQ ȴUVW 8VH

RI VXFK JRRGV LV HQWLUHO\ DW WKH ULVN RI WKH %X\HU DQG QR ZDUUDQWLHV DV WR VDIHW\ RI WKH JRRGV DUH JLYHQ 8SKROVWHUHG LWHPV DUH VROG DV ȊZRUNV RI DUWȋ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ΖI RQ FROODWLRQ DQ\ 1$0(' LWHP LQ WKH VDOH FDWDORJXH SURYHV GHIHFWLYH LQ WH[W RU LOOXVWUDWLRQ WKH %X\HU PD\ UHMHFW WKH ORW SURYLGHG KH UHWXUQV LW ZLWKLQ GD\V RI WKH VDOH VWDWLQJ WKH GHIHFW LQ ZULWLQJ 7KLV KRZHYHU VKDOO QRW DSSO\ LQ WKH FDVH RI XQQDPHG LWHPV SHULRGLFDOV DXWRJUDSKHG OHWWHUV PXVLF 0 0 6 PDSV GUDZLQJV 125 LQ UHVSHFW RI GDPDJH WR ELQGLQJV VWDLQV IR[LQJ PDUJLQDO ZRUP KROHV RU RWKHU GHIHFWV QRW D΍HFWLQJ WKH FRPSOHWHQHVV RI WKH WH[W 125 LQ UHVSHFW RI 'HIHFWV PHQWLRQHG LQ WKH FDWDORJXH RU DW WKH WLPH RI VDOH 125 LQ UHVSHFW RI ORWV VROG IRU OHVV WKDQ e &ORFNV :DWFKHV $OO ORWV DUH VROG ȊDV VHHQȋ DQG WKH DEVHQFH RI DQ\ UHIHUHQFH WR WKH FRQGLWLRQ RI D FORFN RU ZDWFK GRHV QRW LPSO\ WKH ORW LV LQ JRRG FRQGLWLRQ DQG ZLWKRXW GHIHFWV UHSDLUV RU UHVWRUDWLRQV 0RVW FORFNV DQG ZDWFKHV ZLOO KDYH EHHQ UHSDLUHG GXULQJ WKHLU QRUPDO OLIHWLPH DQG PD\ QRZ LQFRUSRUDWH DGGLWLRQDO QHZHU SDUWV )XUWKHUPRUH /\RQ 7XUQEXOO PDNHV QR UHSUHVHQWDWLRQ RU ZDUUDQW\ WKDW DQ\ FORFN RU ZDWFK LV LQ ZRUNLQJ RUGHU $V FORFNV DQG ZDWFKHV RIWHQ FRQWDLQ ȴ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Ζ7(6 UHJXODWLRQV ZKHQ H[SRUWLQJ WKHVH LWHPV RXWVLGH WKH (8 7KHVH UHJXODWLRQV PD\ EH IRXQG DW KWWS ZZZ GHIUD JRY XN DKYOD HQ LPSRUWV H[SRUWV FLWHV /\RQ 7XUQEXOO DFFHSWV QR OLDELOLW\ IRU DQ\ ORWV ZKLFK PD\ EH VXEMHFW WR &Ζ7(6 EXW KDYH QRW EH LGHQWLȴHG DV VXFK 14. SALE BY PRIVATE TREATY D 7KH VDPH &RQGLWLRQV RI 6DOH %X\HUV VKDOO DSSO\ WR VDOHV E\ SULYDWH WUHDW\ E 3ULYDWH WUHDW\ VDOHV PDGH XQGHU WKHVH &RQGLWLRQV DUH GHHPHG WR EH VDOHV E\ DXFWLRQ DQG VXEMHFW WR RXU DJUHHG FKDUJHV IRU 6HOOHUV DQG %X\HUV F /\RQ 7XUQEXOO XQGHUWDNHV WR LQIRUP WKH 6HOOHU RI DQ\ R΍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ȴUVW FODVV PDLO LQ ZKLFK FDVH LW VKDOO EH GHHPHG WR KDYH EHHQ UHFHLYHG E\ WKH DGGUHVVHH KRXUV DIWHU SRVWLQJ F 1RWLFHV WR /\RQ 7XUQEXOO VKRXOG EH LQ ZULWLQJ DQG DGGUHVVHG WR WKH 0DQDJLQJ 'LUHFWRU DW %URXJKWRQ 3ODFH (GLQEXUJK (+ 55 TXRWLQJ WKH UHIHUHQFH QXPEHU VSHFLȴHG DW WKH EHJLQQLQJ RI WKH VDOH FDWDORJXH G 6KRXOG DQ\ SURYLVLRQ RI WKHVH &RQGLWLRQV RI 6DOH EH KHOG XQHQIRUFHDEOH IRU DQ\ UHDVRQ WKH UHPDLQLQJ SURYLVLRQV VKDOO UHPDLQ LQ IXOO IRUFH DQG H΍HFW H 7KHVH &RQGLWLRQV RI 6DOH DUH QRW DVVLJQDEOH E\ HLWKHU SDUW\ ZLWKRXW WKH RWKHUȇV SULRU ZULWWHQ FRQVHQW 1R DFW RPLVVLRQ RU GHOD\ E\ /\RQ 7XUQEXOO VKDOO EH GHHPHG D ZDLYHU RU UHOHDVH RI DQ\ RI LWV ULJKWV I 7KH FRQWUDFW EHWZHHQ WKH SDUWLHV PD\ EH YDULHG E\ WKH SDUWLHV E\ DJUHHPHQW DQG LQ ZULWLQJ

17. AUTHENTICITY GUARANTEE /\RQ 7XUQEXOO JXDUDQWHHV WKDW WKH DXWKRUVKLS SHULRG RU RULJLQ FROOHFWLYHO\ Ȋ$XWKRUVKLSȋ RI HDFK ORW LQ WKLV FDWDORJXH LV DV VWDWHG LQ WKH %2/' RU &$3Ζ7$/Ζ6(' W\SH KHDGLQJ LQ WKH FDWDORJXH GHVFULSWLRQ RI WKH ORW DV DPHQGHG E\ RUDO RU ZULWWHQ VDOHVURRP QRWHV RU DQQRXQFHPHQWV /\RQ 7XUQEXOO PDNHV QR ZDUUDQWLHV ZKDWVRHYHU ZKHWKHU H[SUHVV RU LPSOLHG ZLWK UHVSHFW WR DQ\ PDWHULDO LQ WKH FDWDORJXH RWKHU WKDQ WKDW DSSHDULQJ LQ WKH %ROG RU &DSLWDOLVHG KHDGLQJ DQG VXEMHFW WR WKH H[FOXVLRQV EHORZ ΖQ WKH HYHQW /\RQ 7XUQEXOO LQ LWV UHDVRQDEOH RSLQLRQ GHHPV WKDW WKH FRQGLWLRQV RI WKH DXWKHQWLFLW\ JXDUDQWHH KDYH EHHQ VDWLVȴHG LW VKDOO UHIXQG WR WKH RULJLQDO SXUFKDVHU RI WKH ORW WKH KDPPHU SULFH DQG DSSOLFDEOH %X\HUȇV 3UHPLXP SDLG IRU WKH ORW E\ WKH RULJLQDO SXUFKDVHU 7KLV *XDUDQWHH GRHV QRW DSSO\ LI L WKH FDWDORJXH GHVFULSWLRQ ZDV LQ DFFRUGDQFH ZLWK WKH RSLQLRQ V RI JHQHUDOO\ DFFHSWHG VFKRODU V DQG H[SHUW V DW WKH GDWH RI WKH VDOH RU WKH FDWDORJXH GHVFULSWLRQ LQGLFDWHG WKDW WKHUH ZDV D FRQȵLFW RI VXFK RSLQLRQV RU LL WKH RQO\ PHWKRG RI HVWDEOLVKLQJ WKDW WKH $XWKRUVKLS ZDV QRW DV GHVFULEHG LQ WKH %ROG RU &DSLWDOLVHG KHDGLQJ DW WKH GDWH RI WKH VDOH ZRXOG KDYH EHHQ E\ PHDQV RU SURFHVVHV QRW WKHQ JHQHUDOO\ DYDLODEOH RU DFFHSWHG XQUHDVRQDEO\ H[SHQVLYH RU LPSUDFWLFDO WR XVH RU OLNHO\ LQ /\RQ 7XUQEXOOȇV UHDVRQDEOH RSLQLRQ WR KDYH FDXVHG GDPDJH WR WKH ORW RU OLNHO\ WR KDYH FDXVHG ORVV RI YDOXH WR WKH ORW RU LLL WKHUH KDV EHHQ QR PDWHULDO ORVV LQ YDOXH RI WKH ORW IURP LWV YDOXH KDG LW EHHQ LQ DFFRUGDQFH ZLWK LWV GHVFULSWLRQ LQ WKH %ROG RU &DSLWDOLVHG W\SH KHDGLQJ 7KLV *XDUDQWHH LV SURYLGHG IRU D SHULRG RI RQH \HDU IURP WKH GDWH RI WKH UHOHYDQW DXFWLRQ LV VROHO\ IRU WKH EHQHȴ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ȇV UHJLVWHUHG RɝFH LQ WKH VDPH FRQGLWLRQ DV DW WKH GDWH RI VDOH WR WKH RULJLQDO SXUFKDVHU RI UHFRUG DQG EH DEOH WR WUDQVIHU JRRG WLWOH WR WKH /RW IUHH IURP DQ\ WKLUG SDUW\ FODLPV DULVLQJ DIWHU WKH GDWH RI VXFK VDOH /\RQ 7XUQEXOO KDV GLVFUHWLRQ WR ZDLYH DQ\ RI WKH DERYH UHTXLUHPHQWV /\RQ 7XUQEXOO PD\ UHTXLUH WKH RULJLQDO SXUFKDVHU RI WKH ORW WR REWDLQ DW WKH RULJLQDO SXUFKDVHU RI ORWȇV FRVW WKH UHSRUWV RI WZR LQGHSHQGHQW DQG UHFRJQLVHG H[SHUWV LQ WKH ȴHOG 7KH UHSRUWV PXVW EH PXWXDOO\ DFFHSWDEOH WR /\RQ 7XUQEXOO DQG WKH RULJLQDO SXUFKDVHU RI WKH ORW /\RQ 7XUQEXOO VKDOO QRW EH ERXQG E\ DQ\ UHSRUWV SURGXFHG E\ WKH RULJLQDO SXUFKDVHU RI WKH ORW DQG UHVHUYHV WKH ULJKW WR VHHN DGGLWLRQDO H[SHUW DGYLFH DW LWV RZQ H[SHQVH ΖW LV VSHFLȴFDOO\ XQGHUVWRRG DQG DJUHHG WKDW WKH UHVFLVVLRQ RI D VDOH DQG WKH UHIXQG RI WKH RULJLQDO SXUFKDVH SULFH SDLG WKH VXFFHVVIXO KDPPHU SULFH SOXV WKH EX\HUȇV SUHPLXP LV H[FOXVLYH DQG LQ OLHX RI DQ\ RWKHU UHPHG\ ZKLFK PLJKW RWKHUZLVH EH DYDLODEOH DV D PDWWHU RI ODZ /\RQ 7XUQEXOO DQG WKH 6HOOHU VKDOO QRW EH OLDEOH IRU DQ\ LQFLGHQWDO RU FRQVHTXHQWLDO GDPDJHV LQFXUUHG RU FODLPHG LQFOXGLQJ ZLWKRXW OLPLWDWLRQ ORVV RI SURȴWV RU LQWHUHVW 18. DATA PROTECTION ΖQ FRQQHFWLRQ ZLWK WKH PDQDJHPHQW DQG RSHUDWLRQ RI RXU EXVLQHVV DQG WKH PDUNHWLQJ DQG VXSSO\ RI /\RQ 7XUQEXOOȇV VHUYLFHV RU DV UHTXLUHG E\ ODZ ZH PD\ DVN WKH %X\HU WR SURYLGH SHUVRQDO LQIRUPDWLRQ DERXW WKHPVHOYHV RU REWDLQ LQIRUPDWLRQ DERXW WKH %X\HU IURP WKLUG SDUWLHV H J FUHGLW LQIRUPDWLRQ /\RQ 7XUQEXOO ZLOO QRW JLYH RXW SHUVRQDO LQIRUPDWLRQ H[FHSW DV PD\ EH UHTXLUHG E\ ODZ ΖI \RX ZRXOG OLNH IXUWKHU LQIRUPDWLRQ RQ /\RQ 7XUQEXOO SROLFLHV RQ SHUVRQDO GDWD RU WR PDNH FRUUHFWLRQV WR \RXU LQIRUPDWLRQ SOHDVH FRQWDFW XV RQ 19. FORCE MAJEURE /\RQ 7XUQEXOO VKDOO EH XQGHU QR OLDELOLW\ LI WKH\ VKDOO EH XQDEOH WR FDUU\ RXW DQ\ SURYLVLRQ RI WKH &RQWUDFW RI 6DOH IRU DQ\ UHDVRQ EH\RQG WKHLU FRQWURO LQFOXGLQJ ZLWKRXW OLPLWLQJ WKH IRUHJRLQJ DQ DFW RI *RG OHJLVODWLRQ ZDU ȴUH ȵ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

Guide to Bidding & Payment Registration All potential buyers must register prior to placing a bid. Registration information may be submitted in person at our registration desk, by email, by fax or on our website. Please note that DOO ȴUVW WLPH ELGGHUV DW /\RQ 7XUQEXOO will be asked to supply the following documents in order to facilitate registration: 1 – Government issued photo ID (Passport/Driving licence) 2 – Proof of address (utility bill/bank statement). We may, at our option, also ask you to provide a bank reference and/or deposit. By registering for the sale, the buyer acknowledges that he or she has read, understood and accepted our Conditions of Sale.

Bidding At the Sale Registered bidders will be assigned a bidder number and given a paddle for use at the sale. Once the ȴUVW ELG KDV EHHQ SODFHG WKH DXFWLRQHHU asks for higher bids in increments determined by the auctioneer. To place your bid, simply raise your paddle until the auctioneer acknowledges you. Please ensure that the auctioneer repeats your bidder number correctly ZKHQ FRQȴUPLQJ WKH VDOH ΖI WKHUH LV DQ\ doubt at this stage as to the hammer price or buyer it must be brought to the auctioneer’s attention immediately. All lots will be invoiced to the name and address given on your registration form, which is non-transferable.

Payment By phone A limited number of telephone lines are available for bidding by phone through a Lyon & Turnbull representative. Phone lines must be reserved in advance. All bid requests must be received an hour before the sale. All telephone bids must be FRQȴUPHG LQ ZULWLQJ OLVWLQJ WKH UHOHYDQW lots and appropriate number to be called. We recommend that a covering bid is also left in the event that we are unable to make the call. We cannot guarantee that lines will be available, or that we will be able to call you on the day, but will endeavor to undertake such bids to the best of our abilities. This service is available entirely at our discretion and at the bidder’s risk. In writing Bid forms are available at the sale and/or the back of the catalogue. These should be submitted in person, by post, or by fax as soon as possible prior to the sale and we will bid on your behalf up to the limit indicated. In the event of receiving two identical bids the ȴUVW RQH UHFHLYHG ZLOO WDNH SUHFHGHQFH All bids must be received an hour before the sale. This service is entirely at the bidder’s risk. On the internet A fully-illustrated catalogue is available on our website. Registered bidders may leave absentee bids through the website and will UHFHLYH HPDLO FRQȴUPDWLRQ RI WKHLU bid. Live online bidding (powered by Invaluable) is also available, accessible either through our website or at www.invaluable.com. Please note that an additional 3% premium is charged by Invaluable for this live online service.

Payment is due within seven (7) days of the sale. Lots purchased will not be released until full payment has been received. Payment may be made by the following methods: Bank Transfer Account details are included on any invoices we issue or upon request from our accounts department. Credit or Debit Cards Payment can be made by Visa Debit, Maestro, Mastercard or Visa Credit cards. Please note there is a 2% surcharge on credit card payments. Online Card Payments We no longer accept card payments by phone. Please use our online payment service (provided by Cardstream/Credorax). <RX ZLOO Č´QG D OLQN WR WKLV VHUYLFH LQ DQ\ email invoice issued or you can visit the payments section of our website. Cheque Cheques should be made payable to Lyon and Turnbull Ltd. We reserve the right to wait until cheques have been cleared by our bankers before releasing bought goods. Cheques can be cleared prior to sale on request. Cheques drawn by third parties cannot be accepted. If paying by post please include the slip from your invoice. Cash Cash payments can be made at the accounts desk during or after a sale. Cash payments limited to ÂŁ5,000.

Š Lyon & Turnbull Ltd. 2017. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted by any form or by any means without the prior written permission of Lyon & Turnbull Ltd.

33 Broughton Place, Edinburgh EH1 3RR Tel. +44 (0)131 557 8844 Fax. +44 (0)131 557 8668 Email. info@lyonandturnbull.com www.lyonandturnbull.com

182 Bath Street, Glasgow G2 4HG Tel. +44 (0)141 333 1992 Fax. +44 (0)141 332 8240

22 Connaught Street, London W2 2AF Tel. +44 (0)207 930 9115

Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.