Poly Auction Hong Kong | July Auctions 2020 | Magnificent Jewels, Watches and Handbags

MAGNIFICENT JEWELS, WATCHES AND HANDBAGS

瑰麗典雅：珠寶、鐘錶及手袋尚品專場 HONG KONG 8 JULY 2020 | 香港 2020年7月8日

保利香港 拍賣日程

POLY AUCTION (HONG KONG) SALES CALENDAR

瑰麗典雅：珠寶、鐘錶及手袋尚品專場

MAGNIFICENT JEWELS, WATCHES AND HANDBAGS

2020 年 7 月 8 日 星期三

WEDNESDAY, 8 JUL 2020

編號：HKS2620 下午 1:00

SALE: HKS2620 1:00 PM

東方留韻之珍藏陳年茶葉及白酒

RARE PU’ER TEA AND CHINESE SPIRIT

2020 年 7 月 9 日 星期四

THURSDAY, 9 JUL 2020

編號：HKS1620-2 上午 10:30

SALE: HKS1620-2 10:30 AM

佳釀醇香之珍稀紅酒及威士忌

FINE WINE AND WHISKY

2020 年 7 月 9 日 星期四

THURSDAY, 9 JUL 2020

編號：HKS1620-1 下午 2:00

SALE: HKS1620-1 2:00 PM

現當代藝術專場

MODERN AND CONTEMPORARY ART

2020 年 7 月 12 日 星期日

SUNDAY, 12 JUL 2020

編號：HKS1020-1 下午 3:00

SALE: HKS1020-1 3:00 PM

ARTitude

ARTITUDE

2020 年 7 月 12 日 星期日

SUNDAY, 12 JUL 2020

編號：HKS1020-2 順延

SALE: HKS1020-2 POSTPONE

預 先 登 記 P R E - R E G I ST R AT I O N

若閣下是首次參與競投，同時未獲得保利香港拍賣有限公司認可的註冊客戶推薦，保證金為港幣 500,000 元。如閣下 打算競投高估價拍賣品（在圖錄內及 / 或電子圖錄內標有〇符號之拍賣品），保證金為港幣 1,000,000 元。保利香港 拍賣有絕對權力隨時調整高估價拍賣品之保證金及 / 或手續 , 而不需要另行通知◦在閣下競投前 , 本公司亦有絕對權力 向閣下要求提供任何有關閣下的財務證明。本公司有絕對權力拒絕任何人之競投登記而不需給予任何解釋◦

If this is the first time you bid with Poly Auction (Hong Kong) Limited, and you are not recommended by a registered client endorsed by us, the deposit will be HK$500,000. If you intend to bid on a “Premium Lot”(i.e., a lot marked with 〇 in the printed catalogue and/or the digital catalogue), the deposit will be HK$1,000,000, please be aware the amount of deposit and/or bidding registration procedure for “Premium Lot” can be changed at any time at Poly Auction(Hong Kong)’s sole discretion without prior notice. In either case, you must deliver to Poly Auction (Hong Kong) Limited such necessary financial references, guarantees, deposits and/or such other security as Poly Auction (Hong Kong) Limited may in its absolute discretion require for before your bid. Poly Auction (Hong Kong) Limited may refuse any bidding registration without any explanation at its’ sole discretion.

預展及拍賣地點

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6 月 23 日至 7 月 8 日 * 上午 10:00 至下午 8:00 拍賣

7 月 8 日至 7 月 12 日 *

* 各專場預展及拍賣時間有所不同，請參閱拍 賣時間表以瞭解詳細日程。 Preview and Auction Venue Poly Gallery Hong Kong Suites 701-708, 7/F, One Pacific Place, 88 Queensway, Admiralty, Hong Kong Tel: +852 2303 9899 Fax: +852 2303 9888 Preview

23 June to 8 July * 10:00 am – 8:00 pm Auction

8 July to 12 July * * Previews and auctions are available on s p e c i f i e d d a y s o n l y. P l e a s e r e f e r t o t h e auction schedule for details.

MAGNIFICENT JEWELS, WATCHES AND HANDBAGS

瑰麗典雅：珠寶、鐘錶及 手袋尚品專場 拍賣

2020 年 7 月 8 日 星期三

下午 1:00（拍品 2001-2195） 拍賣編號：HKS2620 AUCTION

WEDNESDAY, 8 JUL 2020

1:00 pm (Lots 2001-2195) Sale Number: HKS2620

LOT2044 DETAIL 局部

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施 思

SPECIALIST- WATCH & CLOCK 鐘錶專家 KAREN NG

吳嘉韻

SPECIALIST- HANDBAG 名貴手袋專家

WORLDWIDE 全球

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HONG KONG 香港 T: + 852 2303 9899 F: + 852 2303 9888 Email: info@polyauction.com.hk

AMANDA ZHAO

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林雪

SPECIALIST TRAINEE - JEWELLERY 實習專家 KELLY DANG VANCE NG

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ADMINISTRATIVE ASSISTANT - JEWELLERY 珠寶行政助理 SUMMER QIAN

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ADMINISTRATIVE ASSISTANT - WATCH & CLOCK 鐘錶行政助理

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珠寶及尚品部專家

JEWELLERY AND PRESTIGE COLLECTIONS SPECIALISTS

HEAD OF DEPARTMENT 珠寶及尚品部 部門主管 SZE SZE 施思

SPECIALIST - HANDBAG 名貴手袋專家

SPECIALIST - WATCHES 鐘錶專家

JUNIOR SPECIALIST - Jewellery 初級專家

AMANDA ZHAO 趙晶晶

KAREN NG 吳嘉韻

KATHY IP 葉啟歡

SPECIALIST TRAINEEJEWELLERY 實習專家

BUSINESS REPRESENTATIVE TAIPEI 台北業務代表

KELLY DANG 党凱翎

SHALLY LIN 林雪

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MAGNIFICENT JEWELS, WATCHES AND HANDBAGS

瑰麗典雅：珠寶、鐘錶及 手袋尚品專場 目 錄

CONTENTS 2 璀璨珠寶 Magnificent Jewels 96 名貴鐘錶 Important Watch

178 尚品手袋及潮玩專場 Noble Handbags & Hype Collectibles

266 重要通告及目錄編列方法之說明 Important Notices and Explanation of Cataloguing Practice 269 業務規則 Condition of Business

279 競投登記須知 Important Notice about Bidding Registration 280 財務付款須知 Important Notice about Payment 281 競投登記表格 Bidding Registration Form 283 委託競投表格 Absentee Bid Registration 285 裝運委託

Shipping Instructions

Session 1 Magnificent Jewels Lot 2001 - 2058

第一節 璀璨珠寶

Lot 2044

2001

(Another View)

2001 A 1.88 CARAT SPINEL AND DIAMOND RING Set with a 1.88 carats brilliant-round vivid red spinel, accented with baguette and circular-cut diamonds, weighing approximately 1.24 carats in total, mounted in 18K gold, ring size 6 Accompanied by report no. AA16334K dated 02 July 2019 from GFCO GEM LAB, Switzerland, stating that the 1.88 carat spinel is vivid red, all natural, no heat, no treatment, Burma origin 1.88克拉紅色尖晶石配鑽石戒指 18K金鑲嵌圓形1.88克拉天然紅色尖晶石，配鑲方形及圓形鑽 石，總重 1.24 克拉，戒指6號

附瑞士GFCO GEM LAB證書，天然尖晶石未經加熱處理

HKD 30,000-60,000 USD 3,800-7,600

4

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

2002

2002 A 1.40 CARAT BURMESE ‘PIGEON BLOOD’ RUBY AND DIAMOND RING Centering upon an oval-shaped ruby weighing 1.40 carats, within a two-tiered circular-cut diamonds rotating surround weighing 0.87 carat in total, mounted in 18K gold, ring size 6 3/4 GRS, 2014, report no. GRS2014-070124, 1.40 carats, Burma (Myanmar), no indications of thermal treatment, GRS type ‘pigeon's blood’ 1.40克拉緬甸「鴿血紅」紅寶石配鑽石戒指，未經加熱 18K金鑲嵌1.40克拉橢圓形緬甸紅寶石，配鑲圓形鑽石共重約0.87 克拉，戒指6 3/4號

附GRS證書

HKD 58,000-98,000 USD 7,400-12,500

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

5

6

ADLER

2003

2003 THE PROPERTY OF A PRIVATE COLLECTOR A RUBY, DIAMOND AND COLORED GEMSTONES ‘PARROT’ TASSEL PENDANT NECKLACE, BY ADLER Designed as a carved parrot with pavé-set circular-cut diamond body, colored gemstone-set eyes and beak, with ruby beads tassel tail, suspended from a line of circular-cut diamonds highlighted with cabochon rubies, mounted in 18K gold, pendant length approximately 8.5 cm, necklace approximately 100 cm Signed Adler

私人收藏 ADLER設計 紅寶石，鑽石配彩色寶石“鸚鵡”流蘇項鏈 18K金打造鸚鵡造型掛墜項鏈，鑲嵌圓形鑽石及彩色寶石，紅寶石珠裝飾流蘇尾巴，項鏈 鑲嵌圓形鑽石及弧面紅寶石，吊墜長約8.5cm，項鏈長約100 cm，印有ADLER品牌印記

HKD 80,000-180,000 USD 10,200-22,900 紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

7

8

CARTIER PANTHÈRE

Cartier was founded in a jewelry workshop in Paris in 1874, the unique design and craftsmanship have made Cartier’s name world-renowned. Cartier’s centuries-old development is like a history of jewelry, recording the gorgeous jewels of different periods.

Cartier’s jewels are closely related to everything nature and through the superb skills, their jewels are vivid, exquisite and brought to live. The classic Panthère image is sought after by countless people.

The Cartier Panthère motif has been an integral part of the brand’s identity since the late 1940s. The signature Cartier Panthère has become a symbol of luxury and sophistication and highlights the fine craftsmanship and creative spirit of the Cartier brand. The panthère is a key character and inspiration within Cartier maison style, carrying Cartier’s DNA: determined, passionate and daring.

Presenting here are two iconic jewelry pieces from Cartier Panthère Collection. Artfully and substantially sculpted in platinum and 18K gold, with sparkling pavé-set diamond body and emerald-set eyes, the panther comes to life. For the necklace, the panther head is skilfully crafted so that the head can be turned to different angles making it more alive, playful to wear and more valuable. Reflecting a unique personality and strong character, the iconic Cartier Panthère is still considered today as a must-have for jewelry collectors.

卡地亞創立於1874年巴黎的一間珠寶工坊中，其獨特設計與卓越工藝使卡地亞這個名字享譽全球，並 獲得眾多喜愛。卡地亞幾百年的發展就宛如一部珠寶史，紀錄著不同時期絢麗多彩的華麗珠寶。 卡地亞的珠寶與自然界中的萬物息息相關，自然界中的形象常出現於卡地亞的設計中，通過高超的技 藝使其珠寶活靈活現、精妙絕倫，經典的“美洲豹”形象更是受到無數人的追捧。 自1914年以來，“美洲豹”的形象便在卡地亞的經典風格中佔據重要的地位。這個經典的造型優雅而 精緻，完美展現了卡地亞的精湛工藝與創新精神，美洲豹大膽不羈的非凡魅力，更為品牌帶來無限靈 感，與品牌精神和諧統一。此次呈現的兩款經典卡地亞美洲豹珠寶，由鉑金及白金精心雕刻而成，華 麗地鑲嵌鑽石及祖母綠，造型惟妙惟肖。最特別的是此美洲豹頸鏈，美洲豹的頭部是可作靈活轉動， 令頸鏈更生動，亦使佩戴這條頸鏈更具趣味性及更具收藏價值。 獨特的個性與迷人的魅力，直至今 日，卡地亞美洲豹都是珠寶收藏家趨之若鶩的珍品。

9

10

CARTIER

2004

2004 THE PROPERTY OF A PRIVATE COLLECTOR A DIAMOND, EMERALD AND ONYX ‘PANTHÈRE’ BRACELET, BY CARTIER The front designed as a panther, embellished with pavéset circular-cut diamonds, a pear-shaped emerald eye and polished onyx collar, extending to the polished brick-link bracelet, accented with circular-cut diamonds, mounted in 18K gold, length approximately 18.5 cm, signed Cartier, no. SI2424

私人收藏 卡地亞設計，鑽石配黑瑪瑙及祖母綠「美洲豹」手鏈 18K金镶嵌打造美洲豹造型，鋪鑲圓形鑽石，一顆梨形祖母 綠，及黑色黑瑪瑙，鏈節式手鏈點綴圓形鑽石，手鏈長約 18.5cm，印有卡地亞品牌印記及編號

HKD 80,000-550,000 USD 10,200-70,100

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

11

12

CARTIER

2005

(Another View)

2005

THE PROPERTY OF A PRIVATE COLLECTOR A DIAMOND, EMERALD AND ONYX ‘PANTHÈRE’ PENDANT NECKLACE, BY CARTIER Designed as a panther with articulated legs and tail, resting on an onyx hoop, embellished with pavé-set circular-cut diamonds and onyx spots and emerald eyes, panther head can be turned into different angles, to an adjustable black silk cord terminated with cabochon emerald and circular-cut diamonds, 488 diamonds weighing 4.19 carats in total, mounted in platinum, length approximately 720mm, signed Cartier, no. RX3631, French assay and maker’s marks

私人收藏 卡地亞設計，鑽石配黑瑪瑙及祖母綠「美洲豹」項鏈 铂金镶嵌打造美洲豹造型，鑲嵌圓形鑽石及黑色黑瑪瑙，頭部可旋轉，鉸接式四 肢，豹坐於黑瑪瑙圓環，黑色絲絹項鏈長度可調試，鑽石共重約4.19克拉，項鏈 長約720mm，印有卡地亞品牌印記及編號，附法國純度驗證標章及工匠標章戳記

HKD 180,000-1,000,000 USD 22,900-127,400 13

近年來，有關「海洋污染」的各種議題逐漸進入大眾視野，隨著世界工業的發展，海洋的污染也日趨嚴重，海域環境被破壞，除了魚類等海洋生物遭到傷害之外，貝 類生物也無法倖免於難。在數次貝殼打撈中發現，來自於人類的塑料等處理不當的廢棄物替代了本應該產自貝殼的珍珠，佔據了貝殼體內的空間。 LayCiga貝殼項鍊的外觀靈感便是來自於海洋中的貝殼，整體造型為兩扇藍紫色調的貝殼。項鍊通體均選用特殊材質打造：貝殼主體部分採用鈦金屬環保工藝，精細 調製出藍紫色調。 LayCiga貝殼項鍊以不同於白色貝殼的顏色與內容物，共同傳遞了“海洋污染下的貝殼”這一設計主題。作為一種環保金屬，鈦金屬突破了常規材 質的顏色限制，能夠實現各種豐富的色彩，並且具有輕巧的體感和堅韌的硬度，在柔美中展現生命力。 貝殼項鍊更在當代藝術的設計風格中融入了環保理念，並通過特殊材質的選用及配飾外觀的設計，傳達出品牌及設計師內心對於人文主義的追求和對環保理念的 倡導。 關於LayCiga 新銳青年設計師張藝興(EXO成員)於2019年攜手珠寶設計師友人共同創立了珠寶品牌“LAYCIGA”。 LayCiga自成立起便一直以小眾設計風格為主，在概念搭建、 外觀設計、材質選取等各方面均追求簡約純粹的風格，打造出一系列融合藝術與審美創造的作品。 This contemporary Seashell pendant necklace designed by LayCiga incorporates the idea of bringing awareness to our environment, especially Ocean pollution. Through the aesthetic shell design and the use of environmental friendly materials – one of which is titanium, used as the shell body; the metal itself can achieve a variety of rich colors, and has a light body and tough hardness, the vibrant purple-blue color brings the piece to the spotlight.

This pendant necklace standalone is a beautiful piece of jewelry, but the idea behind creating the piece making it most valuable - the brand and designer's inner pursuit of humanism and to promote the concept of environmental protection.

About LayCiga Lay from EXO cofounded the jewelry brand ‘LAYCIGA’ in 2019. The brand has been focusing on niche design styles, pursuing simple and pure style in concept construction, appearance design, material selection and other aspects, creating a series of works that combine both art and aesthetic.

14

LAY ZHANG FOR LAYCIGA

2006

2006 A TITANIUM "SEASHELL" PENDANT NECKLACE,

BY LAY ZHANG FOR LAYCIGA Designed as a bluish purple color titanium seashell, accented

by Cubic Zirconia, pendant size 29mm(length) x 27mm(width) x 225mm(height), neckalce length approximately 700 mm 張藝興為LayCiga設計，鈦金屬「貝殼」項鏈 鈦金屬打造藍紫色貝殼吊墜，點綴立方氧化鋯，吊墜尺寸 29mm(長) x 27mm(寬) x 225mm(高)，項鏈長約700mm

HKD 20,000-30,000 USD 2,500-3,800

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

15

MARINA B Marina Bulgari was born in a famous jewelry family in Rome, Italy; her grandfather was Sotirios Voulgaris, founder of the BVLGARI jewelry company. In Geneva 1978, Marina founded her own signature jewelry brand ‘Marina B.’ and opened her first ever Marina B. boutique. She chose the name ‘Marina B’ hoping to set herself apart from her family’s name and reputation. She made her fame through her bold design style and is widely regarded as one of the most important women in the contemporary jewelry world. Her clientele are from all over the world and she has jewelry stores in Milan, Paris and New York.

Marina’s inspiration is not from real objects but conceptually such as breathing, moving and all the things she does. She combines personal innovation and the passion and talent which from family education to form her rich, gorgeous and contemporary features style. Not only that, but Marina also invented a new diamond-cut style. Marina B’s current creative director, Guy Bedarida, once said that Marina has endless inspiration, and about 12,000 original designs are kept in professional storage facilities in New Jersey. Marina B’s modern vision and creative thinking inspired the first generation of women to buy jewelry for themselves. Today, under the leadership of Guy Bedarida, the brand has a number of exquisite collections to continue to explore and develop Marina’s innovative aesthetics.

Poly Auction Hong Kong is pleased to offer three signature jewelry pieces from Marina B. – including the ‘Diana’ ring, ‘Caty’ reversible earrings and ‘Fulvia’ earrings.

瑪麗娜·寶格麗（Marina Bulgari）出生於意大利羅馬的一個著名珠寶家族，她的祖父正正是寶格麗 （BVLGARI）珠寶公司的創始人Sotirios Voulgaris。在1978年日內瓦，Marina創立了自己的同名 珠寶品牌“ Marina B.”，並開設了她的第一家Marina B. 珠寶店。她選擇了用’Marina B’這個 名字，是希望能獨當一面並與其家人的名聲區分。她以大膽的設計風格而成名並廣為人知，更被公認 為當代珠寶界最重要的女性之一。她的客戶遍佈全球，在米蘭，巴黎和紐約都分別開設了珠寶店。 Marina的靈感並非來自真實的物體而是概念性的比如呼吸、移動以及她做的所有事情，她結合個 人創新與家庭所培養的激情、才華，形成獨屬於她豐富、華麗且兼具當代特色的奇妙風格。 不僅如 此，Marina還發明了新的鑽石切割造型，Marina B現在的創意總監Guy Bedarida曾說Marina有無 窮無盡的靈感，大約一萬兩千張原創設計就保存在New Jersey的專業儲藏設施裡。Marina B.的現 代視野和創意卓越激發了第一代女性為自己購買珠寶。如今，在Guy Bedarida等帶領下該品牌已擁 有許多精美絕倫的系列，繼續探索與發展Marina的創新美學。 香港保利拍賣非常高興呈獻來自Marina B.的三款獨特設計珠寶，包括“Diana”戒指，“Caty” 可 轉換式耳環和“Fulvia”耳環。

16

MARINA B

2007

2008 2009

2007

2009

A PAIR OF MULTI-GEM ‘CATY’ REVERSIBLE EARRINGS, BY MARINA B

2008

Each set in the center of a pear-shaped rhodolite garnet, weighing 11.22 carats in total, surrounded by pavé-set diamonds or reversible onyx, weighing 1.76 carats and 2.80 carats in total respectively, mounted in 18K gold, earrings 2.4 cm (width) x 2 cm (length)

Centering upon a kite-shaped rubellite weighing 3.85 carats, with buff-top cut red sapphire surround, weighing 1.8 carats in total, to a buff-top cut rubellite and amethyst gallery and half hoop, weighing 3.7 carats and 4.0 carats respectively, mounted in 18K gold, ring size 7 1/4 Signed © Marina With fitted box

Each centering upon oval-cut tanzanites, weighing 1.68 carats in total, surrounded by circular-cut diamonds and buff top sapphires, suspending buff-top sapphires and blue chalcedony drop, diamonds weighing 0.65 carats in total, sapphires weighing 8.50 carats and chalcedony weighing 37.51 carats in total, mounted in 18K gold, earrings 3.8 cm

MARINA B設計， 寶石「DIANA」戒指

Signed © Marina B and MB for Marina B, serial no.225021 and fitted box

Signed © Marina B and MB for Marina B, serial no.109016 and fitted box

A MULTI-GEM ‘DIANA’ RING, BY MARINA B

MARINA B設計， 寶石「CATY」耳環

18K金鑲嵌風箏形3.85克拉紅碧璽，周圍鑲嵌凸圓形

18K金鑲嵌梨形石榴石，兩顆共重約11.22克拉，配鑲

紅色藍寶石，共重約1.8克拉，配鑲凸圓形紅碧璽及

圓形鑽石或可轉換背面為黑瑪瑙，分別重約1.76克拉

紫晶，分別重約3.7及4.0克拉，戒指7 1/4號，印有

及2.80克拉，耳環尺寸2.4 cm (寬) x 2 cm (長) 印有

Marina B品牌印記，附原裝盒

Marina B品牌印記及編號，附品牌原裝盒

HKD 52,000-98,000 USD 6,600-12,500

HKD 45,000-85,000 USD 5,700-10,800

A PAIR OF MULTI-GEM ‘FULVIA’ EARRINGS,

BY MARINA B

MARINA B設計， 寶石「FULVIA」耳環 18K金鑲嵌橢圓形坦桑石共重約1.68克拉，配鑲圓形鑽 石及凸圓形藍寶石，分別重約0.65克拉及8.50克拉， 垂掛藍玉髓珠子共重約37.51克拉，耳環長約3.8 cm， 印有Marina B品牌印記及編號，附品牌原裝盒

HKD 60,000-120,000 USD 7,600-15,300 17

18

BVLGARI

2010

Bvlgari, a world-renown jewelry brand that has been

寶格麗（Bvlgari）是舉世聞名的珠

creating highly desirable and collectible pieces for

寶品牌，數十年來一直創造令人驚艶

decades. Every successful brand has its very own

且值得收藏的珠寶。每個成功的品牌

signature motif and Bvlgari Serpenti is no exception.

都有其自己的標誌性圖案，寶格麗的

The Bvlgari Serpenti collection is a jewelry collection

“Serpenti” 亦不例外。

that Bvlgari first began producing in the 1940s and

Serpenti系列是寶格麗於1940年代首

has become one of Bvlgari iconic collection until today.

次面世的珠寶系列，時至今日，它已成

Bulgari describes just what the Serpenti collection

為寶格麗標誌性系列之一。寶格麗形容

means to them – “Coiled around a history of humanity,

Serpenti系列對他們的意義-“從古希

the seductive serpent dates back to ancient Greek and

臘和羅馬神話中，不難發現誘人帶神秘

Roman mythology. A motif representing wisdom, vitality

感的蛇盤繞著人類的歷史 - 它代表著

and seduction.”

智慧、生命力及充滿誘人魅力。”

The collection has evolved over the years from watches

多年來，該系列已從手錶發展到包括手

to include bracelets, rings, bags and more; and remains

鐲，戒指，手袋等等。系列仍然是品牌

a brand staple and a highly sought-after collector’s

的標誌和備受追捧的收藏品。蛇的這個

寶格麗設計，紅色碧璽配鑽石'SERPENTI'手環

item. The serpent symbol and the sign were as strong

標記數十年來一直代表著寶格麗這個品

18K金鑲嵌蛇形單圈手環，鋪鑲圓形鑽石，蛇頭鑲飾

as they had been several decades ago, whether you

牌，無論是Serpenti系列最新的珠寶款

紅碧璽，印有寶格麗品牌印記

are investing in a modern Serpenti piece or a vintage

式，又或是系列的古董珠寶，都同樣非

piece, it is a solid investment.

常有價值及值得收藏

HKD 120,000-400,000 USD 15,300-51,000

2010 THE PROPERTY OF A PRIVATE COLLECTOR A RUBELLITE AND DIAMOND ‘SERPENTI’ BRACELET, BY BVLGARI Of stylized one coil serpent design, set with a tourmaline head and 28 brilliant-cut diamond-set links, mounted in 18K gold, signed Bvlgari, no.2337AL

私人收藏

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

19

20

BVLGARI

2011 A DIAMOND ‘SERPENTI’ NECKLACE, BY BVLGARI Designed as a snake composed of attenuated scales set with round diamonds, mounted in 18K gold, necklace approximately 380 mm, signed Bulgari, with Italian assay mark and maker’s marks Accompanied by Bvlgari certificate and original box 寶格麗設計，鑽石'SERPENTI'項鏈 18K金鑲嵌蛇形項鏈，蛇身點綴圓形鑽石，印有寶格麗品牌印記，附意 大利純度驗證標章及工匠標章戳記

附BVLGARI證書及盒子

HKD 480,000-880,000 USD 61,100-112,100

2011

21

22

BVLGARI

2012

2012 A RUBY AND DIAMOND ‘SERPENTI’ BRACELET, BY BVLGARI Designed as a coiled snake, the sprung body accented with circular-cut ruby and diamond, to the marquise and circular-cut diamonds crest and tail, with pear-shaped ruby eyes, mounted in 18K gold, signed Bvlgari, no. 260754 Accompanied by Bvlgari certificate and original box 寶格麗設計，紅寶石配鑽石'SERPENTI'手鏈 18K金鑲嵌蛇形手環，蛇身點綴圓形紅寶石及鑽石，蛇眼鑲嵌梨形紅寶石， 蛇尾及蛇頭鑲嵌梨形及欖尖形鑽石，印有寶格麗品牌印記及編號

附BVLGARI證書及盒子

HKD 1,200,000-2,000,000 USD 152,900-254,800

23

24

GRAFF

2013 AN ELEGANT DIAMOND ‘BOHEMIA’ NECKLACE, BY GRAFF Designed as layers of diamond motifs, such as flowers, leaves, buttflies and fanciful shapes, 1281 pear and circular-cut diamonds weighing 52.91 carats in total, mounted in 18K gold, necklace approximately 400 mm Signed Graff, no. GN 7263 Accompanied by Graff certificate and original box 格拉芙設計，鑽石'BOHEMIA'項鏈 18K金鑲嵌鑽石打造花朵、樹葉、蝴蝶等多種造型圖案，1281顆梨形及 圓形鑽石共重約52.91克拉，印有格拉芙品牌印記及編號

附Graff證書及盒子

HKD 880,000-2,000,000 USD 112,100-254,800

2013

25

26

VAN CLEEF & ARPELS

2014

2014 A 12.12 CARAT COLOMBIAN EMERALD AND DIAMOND RING, BY VAN CLEEF & ARPELS Set with a rectangular-shaped emerald, weighing 12.12 carats, surrounded by marquise and circular-cut diamonds, diamonds weighing approximately 5 carats in total, mounted in platinum, ring size 6 1/2 Gübelin, 2018, report no. 18097287: emerald, Colombia, indications of minor clarity enhancement AGL, 2018, report no.1095297: 12.12 carats, Colombia, minor clarity enhancement 梵克雅寶設計，12.12克拉哥倫比亞祖母綠配鑽石戒指 鉑金鑲嵌12.12克拉階梯式切割祖母綠，配鑲欖尖形及及圓形切割鑽石，鑽石共重 約5克拉，戒指 6 1/2號

附Gübelin及AGL證書

HKD 2,200,000-3,000,000 USD 280,300-382,200

27

28

M. GÉRARD

(Color-Changing)

2015

2015 A 40.45 CARAT SRI LANKA COLOR-CHANGE SAPPHIRE AND DIAMOND BRACELET, BY M. GÉRARD Set with an oval-shaped color-change sapphire, weighing approximately 40.45 carats, accented by marquise and brilliant-cut diamonds, to an openwork bracelet similarly set, mounted in 18K gold, bracelet length approximately 17.5 cm, signed m. Gérard, no. 4424 Gübelin, 2018, report no. 18090130, color-change sapphire, 40.45 carats, Sri Lanka, no indications of heating, blue change to violet M. Gérard設計, 40.45克拉斯里蘭卡變色藍寶石配鑽石手鏈 18K金鑲嵌40.45克拉橢圓形變色藍寶石，點綴圓形及欖尖形切割鑽石， 網狀花紋手鏈，鑲嵌較小圓形及欖尖形切割鑽石，手鏈長約17.5 cm， 印有M. Gérard品牌印記及編號

HKD 2,500,000-3,800,000 USD 318,500-484,100

29

2016

2017

30

2016

2017

A PAIR OF DIAMOND EAR PENDANTS

A TOTAL OF 17.16 CARAT DIAMOND BRACELET

Each composed of two rose-cut and circularcut diamond tassels, 382 diamonds weighing 6.6 carats in total, mounted in 18K gold, length approximately 8.0 cm

Of lattice design, the broad articulated bracelet alternately-set with marquise-cut and circular-cut diamonds, 315 diamonds weighing 17.16 carats in total, mounted in 18K gold, inner circumference approximately 17 cm

總重6.6克拉鑽石耳環

總重17.16克拉鑽石手鏈

18K金鑲嵌玫瑰形及圓形鑽石耳環，382顆鑽

18K金鑲嵌欖尖形及圓形鑽石手鏈，315顆鑽石共重約

石共重約6.6克拉，耳環長約8.0 cm

17.16克拉，手鏈內徑長約17 cm

HKD 30,000-50,000 USD 3,800-6,400

HKD 120,000-220,000 USD 15,300-28,000

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

2018

2018 A 5.65 CARAT DIAMOND RING Set with a round brilliant-cut diamond weighing 5.65 carats, mounted in platinum, ring size 5 3/4 GIA, 2017, report no. 2256101994: 5.65 carats, G color, VVS1 clarity 5.65克拉鑽石戒指 鉑金鑲嵌5.65克拉圓形明亮形G色鑽石，淨度VVS1，戒指5 3/4號

附GIA證書

HKD 600,000-1,600,000 USD 76,400-203,800

31

32

2019

2019 THE PROPERTY OF A PRIVATE COLLECTOR A 8.02 CARAT DIAMOND RING Centering upon a round brilliant cut diamond weighing 8.02 carats, embellished with pear and brilliant-cut diamonds, to the circular-cut pavéset diamond hoop, diamonds weighing approximately 17.15 carats in total, mounted in 18K gold, ring size 9 1/2 GIA, 2010, report no. 6127502975: 8.02 carats, E colour, VVS2 clarity Please note that the GIA report is over 5 years old and may require an update

私人收藏 8.02克拉鑽石戒指 18K金鑲嵌8.02克拉圓形明亮E色鑽石，淨度VVS2，配鑲梨形及圓形鑽 石，鑽石共重約17.15克拉，戒指9 1/2號

附GIA證書

HKD 1,200,000-3,500,000 USD 152,900-445,900

33

2020

2020

THE PROPERTY OF A PRIVATE COLLECTOR A PAIR OF 5.03 AND 5.02 CARAT DIAMOND EARRINGS Each set with a pear-shaped diamond weighing 5.03 and 5.02 carats respectively, surmounted by a brilliant-cut diamond of pink hue, to the circular-cut diamond pine surmount, mounted in 18K gold, approximately 3.50 cm long GIA, 2012, report no. 6145012498: 5.03 carats, D colour, SI1 clarity GIA, 2012, report no. 2151107249: 5.02 carats, D colour, SI2 clarity Please note that the GIA report is over 5 years old and may require an update

私人收藏 5.03及5.02克拉鑽石耳環一對 18K金鑲嵌5.03及5.02克拉梨形D色鑽石，配鑲圓形粉色調鑽石及圓形鑽 石，耳環長約3.50 cm

附GIA 證書

HKD 680,000-2,200,000 USD 86,600-280,300

34

2021

2021

THE PROPERTY OF A PRIVATE COLLECTOR A 11.11 CARAT FANCY YELLOW , INTERNALLY FLAWLESS DIAMOND AND DIAMOND RING Set with a rectangular-cut fancy yellow diamond weighing 11.11 carats, to the marquise-cut diamond gallery and circular-cut pavé-set diamond hoop, diamond weighing approximately 6.99 carats in total, mounted in 18K gold, ring size 9 1/2 GIA, 2001, report no. 11552770: 11.11 carats, fancy yellow colour, internally flawless clarity Please note that the GIA report is over 5 years old and may require an update

私人收藏 11.11克拉彩黃色鑽石配鑽石戒指，內部無瑕 18K金鑲嵌11.11克拉方形彩黃色鑽石，淨度內部無瑕，配鑲欖尖形及圓 形鑽石，鑽石共重約6.99克拉，戒指 9 1/2號

附GIA證書

HKD 450,000-1,000,000 USD 57,300-127,400 35

36

2022

2022 A 10.07 CARAT D COLOR, FLAWLESS, TYPE IIA DIAMOND RING Set with an emerald-cut diamond of 10.07 carats, to a circular-cut diamond gallery and half hoop, diamond weighing 1.23 carats in total, 18K gold, ring size 6 1/4 GIA, 2018, report no.5191742713: 10.07 carats, D colour, flawless clarity, with excellent polish and symmetry Also accompanied by a GIA diamond type classification report stating that the 10.07 carat emerald cut diamond is determined to be a Type IIa diamond 10.07克拉D色TYPE IIA鑽石戒指，淨度無瑕 18K金鑲嵌祖母綠形D色鑽石，淨度無瑕，極優評級打磨及對稱，配鑲圓形鑽石 共重約1.23克拉

附GIA證書及Type IIa附加信

HKD 4,800,000-8,000,000 USD 611,500-1,019,100

37

A PERFECT DIAMOND A 10.01 Carat d Color, Flawless, Type Iia Unmounted Diamond

The diamond occupies an astonishing unique place in the story of civilization. A dazzling fragment of eternity, it has shed its divine light through thousands of years, captivating mankind with its otherworldly beauty.

This exceptional 10.01 carat D color, Type IIa, flawless diamond with excellent cut, polish and symmetry, without any fluorescence that we offered in this auction is a masterpiece of such accidents of geology. It falls into the Type IIa diamond category, which accounts for only up to 2% of all diamonds. Type IIa diamonds are the most chemically pure and often have exceptional optical transparency. Type IIa diamonds contain almost no impurities, and are free from the more common nitrogen impurities within the crystal lattice found in Type I diamonds. 在世界不同文明中，鑽石皆佔據著驚人的獨特地位。作為漫漫時光長河之中的一段閃耀瞬間，千百年來它逐漸卸下神聖的 光芒，以其超凡脫俗的美麗吸引著眾人的目光。 這顆珍貴罕有的10.01克拉、D色完美無瑕圓形切割鑽石，擁有極佳切割、打磨及對稱（Triple-X），無任何螢光反應， 堪為4C的完美典範。而它在鑽石分類中又被歸類為化學純度最高的Type IIa鑽石。鑽石當中Type I型號是最常見的，大概 98%的鑽石都屬於此類，其特點是含有微量的氮原子。另外2%的鑽石屬於Type II類型，不含有氮原子，因而顯得格外明 亮透徹。Type II也分為a和b兩種子類別，Type IIb含有微量硼原子，而Type IIa不含有任何可見的其它元素原子置換碳原 子，因而Type IIa鑽石也是化學純度最高的鑽石，常具有令人讚歎的光學透明度。正如這一枚鑽石，它以最大的限度释放 鑽石無以倫比的光學性能，反射周圍所有角度的色彩和光芒，锐利明亮，亮度奪目，火彩明媚，充滿活力和生命力。

38

2023

2023

THE PROPERTY OF A PRIVATE COLLECTOR A 10.01 CARAT D COLOR, FLAWLESS, TYPE IIA UNMOUNTED DIAMOND Round brilliant-cut diamond of 10.01 carats GIA, 2020, report no. 2205963774, 10.01 carats, D color, flawless clarity, excellent cut, polish and symmetry Also accompanied by a GIA diamond type classification report stating that the 10.01 carat round brilliant diamond is determined to be a Type IIa diamond Type IIa diamonds are the most chemically pure type of diamond and often have exceptional optical transparency

私人收藏 10.01克拉全美D色TYPE IIA鑽石，淨度無瑕 10.01克拉圓形明亮D色TYPE IIA鑽石，淨度無瑕，極優評級切割，打磨及對稱

附GIA證書及Type IIa附加信

HKD 6,500,000-9,500,000 USD 828,000-1,210,200 39

2025

2024

2025 2024 A JADEITE AND DIAMOND BRACELET Set with five highly translucent oval jadeite cabochons of bright green colour, the largest cabochon approximately 10.33 x 8.62 x 2.98 mm, decorated with diamonds and diamonds of yellow tint, weighing 2.64 carats in total, mounted in 18K gold, length approximately 175mm Accompanied by report no. SJ193735 dated 20 May 2020 from HK Jade & Stone Lab stating that the largest oval jadeite cabochon is natural jadeite, with no indications of treatment and comments that these type of jadeite may also be called "Type A" in the trade 緬甸天然翡翠蛋面配鑽石手鏈 18K白金及黃金鑲嵌五顆質地通潤綠色翡翠蛋面，最大翡翠蛋面約 10.33 x 8.62 x 2.98 mm，配鑲鑽石總重 2.64 克拉，手鏈長度約175 mm

附香港玉石鑑定中心證書

HKD 80,000-120,000 USD 10,200-15,300

40

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

A JADEITE 'DOUBLE-GOURD', DIAMOND AND SAPPHIRE PENDANT NECKLACE The pendant centering on a translucent jadeite 'double-gourd' of bright green colour, measuring approximately 28.00x19.76x9.46 mm, surrounded and surmounted by circular-cut and pear-shaped diamonds together with a trillion-cut orange sapphire, mounted in 18K gold, pendant approximately 4.3 cm long, a 925 silver necklace aprox. 46 cm long Accompanied by report no. SJ193756 dated 22 May 2020 from HK Jade & Stone Lab stating that the 'double-gourd' jadeite is natural jadeite, with no indications of treatment and comments that these type of jadeite may also be called "Type A" in the trade 緬甸天然翡翠葫蘆配鑽石及剛玉掛墜項鏈 18K白金鑲嵌天然翡翠葫蘆造型掛墜，配鑲鑽石及剛玉，翡翠葫蘆尺寸約 28.00 x 19.76 x 9.46mm，掛墜長約 4.3 cm，925純銀項鏈長約 46 cm

附香港玉石鑑定中心證書

HKD 60,000-100,000 USD 7,600-12,700

2026

2026 A SET OF JADEITE, RUBY AND DIAMOND JEWELRY Comprising a ring, centering on an oval jadeite cabochon of green color and good translucency, set within a heart-shaped ruby surround, accented by diamonds and diamonds of yellow tint; Earrings each set with two oval jadeite cabochon of similar material and design, diamonds weighing 1.895 carats in total and rubies weighing 9.94 carats in total, all mounted in 18K gold, jadeite cabochons approximately 9.93x8.35x4.03mm, ring size US 6 3/4, earrings 4.8 cm long Accompanied by report no. SJ193760 & SJ193761 dated 22 May 2020 from HK Jade & Stone Lab stating that both oval jadeite cabochons are natural jadeite, with no indications of treatment and comments that these type of jadeite may also be called "Type A" in the trade 緬甸天然翡翠配紅寶石及鑽石耳環及戒指套裝 18K金鑲嵌天然翡翠蛋面配紅寶石及鑽石耳環及戒指，鑽石總重 1.895 克拉，紅寶石總 重 9.94 克拉，蛋面翡翠尺寸約 9.93 x 8.35 x 4.03，耳環長約 4.8 cm，戒指6 3/4號

附香港玉石鑑定中心證書

HKD 88,000-180,000 USD 11,200-22,900

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

41

2027

2027 A JADEITE AND DIAMOND PENDANT NECKLACE Set with an oval jadeite cabochon of intense green colour and high translucency, measuring approximately 17.1x14.6 mm, decorated by brilliant-cut diamonds, mounted in 18K gold, approximately 5.3 cm long.

Accompanied by report no. 2005521798 from LAI TAI-AN Lab Gem Laboratory stating that the jadeite cabochon is natural Fei Cui, with no indications of treatment and comments that these type of jadeite may also be called "Type A" in the trade 緬甸天然翡翠蛋面配鑽石掛墜 18K金鑲嵌緬甸天然翡翠蛋面，配鑲圓形鑽石，翡翠蛋面尺寸約17.1 x 14.6 mm， 長度約5.3cm

附LAI TAI-AN證書

HKD 160,000-280,000 USD 20,400-35,700 42

2028

2028 A JADEITE AND TOURMALINE PENDANT NECKLACE Set with a jadeite 'Gourd' carving of intense green color and high translucency, measuring approximately 41.3x28.7x6.6mm, to a tourmaline bead strung on a black cord, total weight approximately 84.45 carats, length approximately 5.4cm Accompanied by report no. 2005521799 from LAI TAI-AN Lab Gem Laboratory stating that the jadeite carving is natural Fei Cui, with no indications of treatment and comments that these type of jadeite may also be called "Type A" in the trade 聚翠福意 緬甸天然翡翠配碧璽掛墜 緬甸天然雕刻翡翠掛墜，尺寸約41.3 x 28.7 x 6.6mm，配紅色碧璽珠，掛墜 長約5.4 mm

附LAI TAI-AN證書

HKD 180,000-380,000 USD 22,900-48,400 43

44

2029

2029 A JADEITE HOOP PENDANT A natural translucent jadeite hoop pendant, with a section of bright green paling to celadon tone, jadeite hoop approximately 42.95x22.80x10.13 mm, strung on a black cord, total weight approximately 158.88 carats, length approximately 69 cm Accompanied by report no. KJ101825 dated 20 May 2020 from HK Jade & Stone Lab stating that the jadeite hoop is natural green Fei Cui, with no indications of treatment and comments that these type of jadeite may also be called "Type A" in the trade 緬甸天然翡翠平安環吊墜 天然翡翠平安環吊墜，掛上有平安、圓滿的寓意，質地通潤，翡翠約42.95 x 22.80 x 10.13 mm，串在黑繩上，總重約158.88 克拉，長度約69 cm

附香港玉石鑑定中心證書

HKD 160,000-280,000 USD 20,400-35,700 45

46

2030

2030 AN IMPRESSIVE JADEITE BANGLE The cylindrical jadeite bangle of high translucency, with a section of intense green color, inner diameter approximately 53.21 mm, thickness approximately 9.81 mm, weighing total 240.86 carats Accompanied by report no. KJ101826 dated 20 May 2020 from HK Jade & Stone Lab stating that the jadeite bangle is natural green Fei Cui, with no indications of treatment and comments that these type of jadeite may also be called "Type A" in the trade 緬甸天然翡翠手鐲 緬甸天然翡翠手鐲，手鐲翠綠通透，手鐲內徑53.21 mm，厚度約9.81 mm，台灣 尺寸17.5，總重約240.86 克拉

附香港玉石鑑定中心證書

HKD 5,000,000-8,000,000 USD 636,900-1,019,100 47

48

AN IMPRESSIVE JADEITE BEAD, RUBY AND DIAMOND NECKLACE

是次拍賣所甄選的這條翡翠珠鏈，由41顆碩大圓潤的緬甸天然翡翠珠串連而成，翡翠珠直徑約13.15 –11.5 mm。 翡翠珠顆顆圓潤光澤，僅是大方串聯，便自有雍容華貴姿態。看似每一顆翡翠珠都簡單利 落，其工藝複雜程度卻不可小覷。要打造一串極品的翡翠珠鏈對原石的要求非常高，需要原石擁有大部份 明顯并色澤統一的色帶，且無綹無裂內含物少。切割過程中對原材料的損耗比例較大，且切割風險高，再 加之設計及打磨又需要極高的技術，所以珠鏈才會成為翡翠中最不可多得的收藏品。翡翠高貴的品質來源 於它明豔又沈穩的顏色、細膩緻密的質地、通透欲滴的透明度、瑩瑩爍爍的光澤以及堅韌的硬度和韌性， 這些特質在這串珠鏈中展現的淋灕盡致。

Unlike the usual sparkles of a cut gemstone, jade has a distinct glowing effect, caused by the gem’s translucency. The light is caught within the stone and reflected back in an even manner.

Due to the tectonic plates float, they move and occasionally collide with one another, when the lower plate takes the stone to depths where the necessary intense pressure, heat and minerals will eventually form it into jade. A high pressure, low temperature metamorphic environment is necessary to form the jadeite.

The delicacy of its design doesn’t imply the production of the bead necklace is simple. For the unity of its look and the consistency of its color, it requires a rough that is large enough to withstand the great deal of weight loss during production, more importantly; it also requires inconceivable patience and luck to find such stone that carries a wide enough band of vivid green color. The rough is cut by well-trained and experienced jadeite experts into most economical number and size of cubic shapes. Then the cubes are polished into round beads. Of this complicated procedure, meticulous planning, steady hands, attention to detail and well-practiced expertise are required at every stage, which marks the extremely high value associated with an outstanding piece like jadeite bead necklace.

This highly important jadeite bead necklace, composed of 41 natural graduated translucent jadeite beads, jadeite bead diameter measuring approximately 11.5 – 13.15 mm, each possessing a richly saturated and evenly distributed green coloration, combined with high translucency as well as their very fine texture. Such qualities are most vividly displayed in one important necklace, a true masterpiece.

49

2031 AN IMPRESSIVE JADEITE BEAD, RUBY AND DIAMOND NECKLACE Composed of forty-one jadeite beads of evenly intense green colour with high translucency, jadeite bead diameter measuring approximately 13.15 – 11.5 mm, to the calibré-cut rubies and baguette diamonds clasp, mounted in 18K gold, length approximately 54.3 cm Accompanied by report no. KJ101837 dated 22 May 2020 from HK Jade & Stone Lab stating that the jadeite bead is natural green Fei Cui, with no indications of treatment and comments that these type of jadeite may also be called "Type A" in the trade 珍罕卓絕 緬甸天然翡翠珠配紅寶石及鑽石項鏈 項鏈由41顆翠綠均勻緬甸天然翡翠珠串連而成，直徑約 13.15 - 11.5mm，配鑲 18K金鑲嵌圓形切割鑽石及紅寶石鏈扣，珠鏈長約 54.3 cm

附香港玉石鑑定中心證書

Estimate Upon Request 估價待詢

50

2031

51

2032

2033

2032

52

A TOTAL 1.78 CARAT PARAIBA TOURMALINE AND DIAMOND RING

2033

Set with two pear-shaped paraiba tourmaline, together weighing total 1.78 carats, with each framed by circular-cut diamonds, the mounting decorated with marquise-cut diamonds, to the baguette diamond halfhoop, weighing 1.595 carats in total, mounted in 18K gold, ring size 6 1/2

Set with a pear-shaped pink sapphire weighing 2.91 carats, framed by circular-cut diamonds, the mounting decorated with numerous marquise, trillion, pear-shaped and circular-cut diamonds, weighing 1.54 carats in total, mounted in 18K gold, ring size 6 1/2

總重1.78克拉帕拉伊巴碧璽配鑽石戒指

2.91克拉天然粉紅色剛玉配鑽石戒指

18K金鑲嵌兩顆梨形總重1.78克拉帕拉伊巴碧璽，配鑲欖尖形及方形

18K金鑲嵌梨形2.91克拉天然粉紅色剛玉，配鑲欖尖形，三角形，

鑽石，總重約1.595 克拉，戒指 6 1/2號

梨形及圓形鑽石，總重約1.54克拉，戒指6 1/2號

HKD 80,000-180,000 USD 10,200-22,900

HKD 60,000-100,000 USD 7,600-12,700

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

A 2.91 CARAT PINK SAPPHIRE AND DIAMOND RING

2034

2034 A 13.54 CARAT BURMESE SPINEL AND DIAMOND RING Set with a cushion-shaped spinel of 13.54 carats, to the pavé-set circular-cut diamonds hoop, diamonds weighing 0.42 carat in total, 18K gold, ring size 6 1/2 GRS, 2020, report no. GRS2020-018206, 13.54 carats, Burma (Myanmar), no indications of thermal treatment 13.54克拉緬甸尖晶石配鑽石戒指，未經加熱 18K金鑲嵌13.54克拉枕形尖晶石，配鑲圓形鑽石共重約0.42克拉，戒 指6 1/2號

附GRS證書

HKD 48,000-80,000 USD 6,100-10,200

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

53

2035

2035 THE PROPERTY OF A PRIVATE COLLECTOR A SET OF SAPPHIRE AND DIAMOND BUTTERFLY BROOCH AND EARRINGS Comprising a brooch designed as butterfly, embellished with cabochon and circular-cut sapphires, and enhanced with circular-cut diamonds; a pair of matching earrings en suite, all mounted in 18K gold, brooch approximately 8 cm x 8 cm; ear pendants 2.8 cm

私人收藏 藍寶石配鑽石胸針及耳環套裝 18K金鑲嵌蝴蝶造型胸針，配鑲弧面及圓形藍寶石，點綴圓形鑽石，另配 同款藍寶石及鑽石耳環，胸針尺寸約8 cm x 8 cm，耳環長約2.8 cm

HKD 80,000-180,000 USD 10,200-22,900

54

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

2036

2036 THE PROPERTY OF A PRIVATE COLLECTOR A SET OF SAPPHIRE AND DIAMOND JEWELLERY Comprising a pair of earrings, each set with an oval-shaped sapphire, weighing approximately 2 carats each, within a brilliant-cut diamond two-tiered surround, and a ring, set in the centre with an oval-shaped sapphire, weighing approximately 3.40 carats, within a brilliant-cut diamond two-tiered surround, extending to the quarter-hoop, mounted in 18K gold, earrings 2.3 cm, ring size 7 1/4 HK Jade & Stone Lab, 2020, report no. KG6237, natural blue sapphire, indications of thermal enhancement

私人收藏 藍寶石配鑽石戒指及耳環套裝 18K金鑲嵌橢圓形藍寶石戒指及耳環套裝，配鑲圓形鑽石，耳環長度2.3厘米， 戒指7 1/4

附附香港玉石鑑定中心證書

HKD 50,000-120,000 USD 6,400-15,300

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

55

2037

2037 A 2.11 CARAT BURMESE 'PIGEON BLOOD' RUBY AND DIAMOND ROTATING RING Centering a cushion-shaped ruby weighing 2.11 carats, surrounded with circular-cut diamonds, to the pavé-set diamond rotating panel accented with pear-shaped and circular-cut rubies, framed by circular-cut diamonds, to the diamond-set shoulders, mounted in 18K gold, ring size 6 1/4 GRS, 2016, report no. GRS2016-093200: 2.11 carats, Burma (Mogok, Myanmar), no indications of thermal treatment, GRS type ‘pigeon's blood’ 2.11克拉緬甸「鴿血紅」紅寶石配鑽石可旋轉戒指，未經加熱 18K金鑲嵌2.11克拉枕形緬甸紅寶石，鋪鑲長方形及圓形鑽石，點綴梨形 及圓形紅寶石，戒指6 1/4號

附GRS證書

HKD 380,000-680,000 USD 48,400-86,600

56

2038

2038 A 3.93 CARAT BURMESE RUBY, DIAMOND AND MOTHER-OFPEARL RING Centering upon an oval-shaped ruby weighing 3.93 carats, within mother-of-pearl surround, enhanced by brilliant-cut diamonds, mounted in 18K gold, ring size 6 GIA, 2014, report no.1177680426: 3.93 carats, Burma, no indications of heating GRS, 2010, report no.GRS2010-072019-8: 3.93 carats, Burma, no indications of thermal treatment Please note that the reports are more than 5 years old and might require an update 3.93克拉緬甸紅寶石、鑽石配配珍珠貝母戒指，未經加熱 18K金鑲嵌3.93克拉橢圓形緬甸紅寶石，周圍配以珍珠貝母及鑽石點綴，戒指6號

附GIA及GRS證書

HKD 420,000-880,000 USD 53,500-112,100

57

58

2039

2039 A COLOMBIAN EMERALD AND DIAMOND BRACELET, NO OIL No.

Lab

Shape

Color

Weight (ct)

Origin

Enhancement

Certificate No.

Date

1

GRS

octagonal

vivid green

2.41

Colombia

none

GRS2018-128295

12/6/2018

2

GRS

octagonal

vivid green

1.92

Colombia

none

GRS2019-068211

6/10/2019

3

GRS

octagonal

vivid green

1.91

Colombia

none

GRS2019-058453

5/9/2019

4

GRS

octagonal

vivid green

1.74

Colombia

none

GRS2019-048621

4/25/2019

5

GRS

octagonal

vivid green

1.72

Colombia

none

GRS2019-048750

4/25/2019

6

GRS

octagonal

vivid green

1.65

Colombia

none

GRS2019-068212

6/10/2019

Thirteen graduated rectangular-shaped emeralds, weighing 18.86 carats in total, alternated with thirteen square emerald-cut diamonds, weighing 10.38 carats in total, mounted in 18K gold, length approximately 170 mm Accompanied by 13 reports from GRS and appendixes on Muzo mines on 11 reports, details see the separate sheet Also accompanied by 13 reports from GIA, stating that the diamonds are F color, VS2 clarity

7

GRS

octagonal

vivid green

1.64

Colombia

none

GRS2019-078780

7/19/2019

8

GRS

octagonal

vivid green

1.16

Colombia

none

GRS2018-048264

4/9/2018

9

GRS

octagonal

vivid green

1.13

Colombia

none

GRS2019-078678

7/17/2019

10

GRS

octagonal

vivid green

1.01

Colombia

none

GRS2019-078563

7/17/2019

配鑲13顆祖母綠形鑽石共重10.38克拉，手鏈長約

11

GRS

octagonal

vivid green

1

Colombia

none

GRS2019-078709

7/17/2019

170mm

12

GRS

octagonal

vivid green

0.72

Colombia

none

GRS2019-078590

7/17/2019

附GRS證書及附加信，及GIA證書

13

GRS

octagonal

intense to vivid green

0.85

Colombia

none

GRS2019-078676

7/17/2019

HKD 1,200,000-1,800,000 USD 152,900-229,300

總重約18.86克拉哥倫比亞祖母綠配鑽石手 鏈，未經注油 18K金鑲嵌13顆八角形祖母綠共重18.86克拉，

59

EXCEPTIONAL COLOMBIAN EMERALD Emerald has been a prized jewel of the royal family since ancient time. Gemologists and collectors spend years for sourcing the most desired vivid hue of green. There is no shade of green that can replace the emerald green color that featuring a breathtaking deep blueish green tone. It is simply rich and magnificent. Today, Colombian emeralds prevail in market dominance with its unprecedented color and fine quality.

The clarity grading standards for emeralds are different from that of diamonds or other colored stones. It is commonly accepted in the gem trade that an emerald would have been treated with oil by filling in surface-reaching cracks so that clarity and stability are enhanced. The 10.02 carat emerald ring and 18.86 carat emerald bracelet presented in LOT 2039 ＆ 2040 has delivered all exceptional qualities that a Colombian emerald would have and moreover, gemological evidence shows that none of these emeralds have even been brought for any clarity enhancement treatments, marking them both truly collector’s pieces.

自古以來，祖母綠一直是皇室喜愛的珍貴寶石之一。寶石學家和收藏家們花費無數時間來尋找他們心目中最理想純正而豐富的濃豔綠色。時至今日，哥倫 比亞出產的祖母綠世界聞名，色彩和優良的品質在市場上佔據主導地位，其帶有深藍色調的綠色，質地和光澤之引人入勝，可稱得上市場上極為稀有。 業界對祖母綠的淨度分級標準與鑽石或其他有色寶石的淨度分級標準不同。寶石行業普遍接受通過注油方式來優化祖母綠，從而提高其透明度和穩定性， 因此絕大多數的祖母綠寶石都經過不同程度的注油處理。 LOT 2040 10.02克拉祖母綠戒指和LOT 2039 總重18.86克拉祖母綠手鍊的祖母綠寶石與絕大 多數祖母綠寶石不同，經鑒定是從未曾經過注油等淨度處理，而且，寶石學證據表明，這些祖母綠甚至都沒有經過任何淨度增強處理，擁有如此價值和重 要性的珠寶無疑是真正行家值得擁有的寶石珍藏。

60

2040

2040 A 10.02 CARAT COLOMBIAN EMERALD AND DIAMOND RING, NO OIL Set with an octagonal-shaped emerald, weighing 10.02 carats, flanked on either side by graduated baguette-cut diamonds, to a circular-cut diamond gallery and half hoop, diamonds weighing approximately 4.18 carats in total, mounted in 18K gold, ring size 6 3/4 SSEF, 2019, report no. 105150: 10 carats, Colombia, no indications of clarity modification AGL, 2019, report no.8086245: 10.02 carats, Colombia, no clarity enhancement 10.02克拉哥倫比亞祖母綠配鑽石戒指，未經注油 18K金鑲嵌10.02克拉八角形祖母綠，配鑲長方形及圓形鑽石，鑽石共重約4.18克拉， 戒指 6 3/4號

附SSEF及AGL證書

HKD 2,800,000-4,200,000 USD 356,700-535,000

61

62

2041

2041 A 5.51 CARAT BURMESE 'PIGEON BLOOD' RUBY AND DIAMOND RING Centering an oval-shaped ruby weighing 5.51 carats, surrounded with marquise and pear-shaped diamonds, weighing 4.03 carats in total, mounted in 18K gold, ring size 7 1/4 Gübelin, 2019, report no. 19041126, 5.51 carats, Burma (Myanmar), no indications of heating, information sheet titled unheated rubies GRS, 2017, report no. GRS2017-101673: 5.51 carats, Burma (Mogok, Myanmar), no indications of thermal treatment, GRS type ‘pigeon's blood’ 5.51克拉緬甸「鴿血紅」紅寶石配鑽石戒指，未經加熱 18K金鑲嵌5.51克拉橢圓形緬甸紅寶石，鋪鑲梨形及及欖尖形鑽石， 鑽石共重約4.03克拉，戒指7 1/4號

附GRS證書，Gübelin證書及附加信

HKD 800,000-2,200,000 USD 101,900-280,300

63

KASHMIR Kashmir, a remote region which has the finest specimens and defines the northern

若論藍寶石中之騏驥，喀什米爾藍寶石當之無愧。她嬌豔絕倫，色

most borders between China, India, Pakistan and Afghanistan. The gems are formed

澤濃純，獲認為稀世珍寶，吉光片羽，流傳於世之量寥寥無幾。克

by the intersecting movement of three prominent mountain ranges including The

什米爾地區位於中國、印度、阿富汗、巴基斯坦交界的最北面山區

Himalayas. Above the earth’s surface, the panorama of jagged rocks, glaciers,

喜馬拉雅山脈。在這裡，喜馬拉雅山脈、喀喇崑崙山脈及興都庫什

lakes and waterfalls is beyond magnificent. What is more, the tectonic movements

山脈在移動中匯合，產生無窮衝擊與交融的力量。在可見的地球表

underneath create complex conditions in Kashmir, where limestone comes into

面，形成蔚為壯觀的山石嶙峋以及冰川、湖泊及瀑布等景觀。更值

contact with an intruding Pegmatite. The extremely high temperature and pressure,

一提的是，高溫高壓的偉晶岩在板塊移動下，直接接觸到石灰石，

and sometime a rare silicon-free environment were ideal for sapphire growth.

並在罕見的無矽環境中，克什米爾藍寶石便有機會生成。

The legendarily exquisite sapphires from Kashmir have been disclosed after a rock

1881年，喜馬拉雅山脈中的紮斯卡山脈山泥傾瀉後，喀什米爾藍

slide in the Himalaya Mountains in 1881. Although Kashmir has produced only

寶石礦床嶄露頭角，卻一鳴驚人，聞名於世。但由於海拔極高、終

a limited number of gems since then, the soft, velvety blue of Kashmir sapphires

年積雪、氣候惡劣和政局動盪等種種不明朗因素，礦床只在1881

remains the epitome of this gem variety, and is highly regarded by connoisseurs

至1887年間被間歇開採，產量極少。直至上世紀初，礦源已開採

and collectors alike. Gentle and demanding at the same moment, both gleaming

消耗殆盡，從此再也沒有發現新的礦床。基於這個原因，喀什米爾

and flattering, the typical hue of Kashmir sapphires is among the most sought after

藍寶石在今日以少之又少的數量流傳於世，其高品質不單單為所有

colors. The velvety blue of this sapphire is due to very fine and subtle inclusions and a

藍寶石提供品質標準，并已幾乎成為神話。

combination of well-balanced trace elements in the gemstone, which are typical and characteristic for the finest sapphires of Kashmir.

藍寶石以高度飽和度的深藍至純藍色的色調尤為著名，內部往往含 有極其細微的絲狀內含物，使堅硬剛強的金屬質感中展現出如絲

A Kashmir sapphire with excellent quality and size is extremely rare to be found and

綢般柔美的絲絨質感。這 5.28 克拉喀什米爾藍寶石戒指是一枚顏

every time record- breaking. Undoubtedly, this 5.28 carat Kashmir sapphire and

色、淨度、皆為絕色的佳品，完美展現著喀什米爾藍寶石中極其細

diamond ring is one of the finest Kashmir sapphires in honor of its saturated and

微的絲絨特徵，無出其右，獨一無二，極具收藏投資價值，每一顆

homogeneous color, high degree of transparency, very fine purity, and a perfect cut,

都值得世代流傳。

which could be considered very rare and exceptional.

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BVLGARI

2042

2042 A 5.28 CARAT KASHMIR SAPPHIRE AND DIAMOND RING, BY BVLGARI Set with an rectangular-shaped Kashmir sapphire weighing 5.28 carats, flanked by two emerald-cut diamonds, weighing 1.86 and 1.70 carats respectively mounted in platinum, ring size 6 Gübelin, 2019, report no.19023020, 5.28 carats, Kashmir, no indication of heating, information sheet titled unheated sapphires SSEF, 2019, report no. 105161, 5.281 carats, Kashmir, no indications of heating GIA, 2012, report no. 2146140978, 1.86 carats, F color, VS2 clarity GIA, 2012, report no.

2136382653, 1.70 carats, E color, VVS2 clarity Please note that the reports are more than 5 years old and might require an update 寶格麗設計，5.28克拉克什米爾藍寶石配鑽石戒指，未經加熱 鉑金鑲嵌5.28克拉方形藍寶石，兩旁配鑲祖母綠形鑽石，分別重約1.86及1.70克拉，戒 指6號

附Gübelin、SSEF及GIA證書

HKD 2,600,000-3,200,000 USD 331,200-407,600 65

CONCH PEARL NATURAL TREASURE OF THE CARIBBEAN Conch pearls are among the rarest pearls in the world, produced by the Queen Conch mollusks which live in the warm tropical waters near the Caribbean. There is no method culturing them and with the possibility of finding a conch pearl being one in 50,000, and less than 30% that will be gem quality and can be made into jewelry. 海螺珍珠，又名孔克珍珠，非但不能透過人工養殖，更是寥若晨星。它們來自產於加勒比海海域的大鳳螺，日本人稱它們為女王鳳凰螺。平均每 五萬隻大鳳螺中，只有一顆可用的海螺珍珠，而當中僅有兩至三成符合製成珠寶首飾的標準與質量，全球每年只有少於900顆海螺珍珠可以製成 璀璨的珠寶，戔戔之數，極其珍貴。

66

2043

2043 A PAIR OF CONCH PEARL, DIAMOND AND ONYX EAR PENDANTS Each designed with nine conch pearl drops cluster, weighing approximately 34.03 carats in total, with varied-cut diamonds and onyx connecting link, diamonds weighing 2.84 carats in total, mounted in platinum and 18K gold, length approximately 5.5cm 天然海螺珠配鑽石及黑瑪瑙耳環 鉑金及18K金鑲嵌天然海螺珠，18顆海螺珠共重約34.03克拉， 配鑲多種鑽石，共重約2.84克拉，耳環長約5.5cm

HKD 320,000-680,000 USD 40,800-86,600

67

AN IMPORTANT CONCH PEARL AND DIAMOND NECKLACE This necklace set with 25 natural conch pearls, from light pink to pink and orangy pink with each conch pearl displays a distinctive wave-like ‘flame’ with a creamy, flawless appearance and unique shimmer. Total weighing approximately 170 carats, its color, quality and size are the finest and is one of a kind in the world. 這條項鏈由25 顆色澤攸同天然海縲珠串聯而成，每顆圓潤滑膩的粉紅糖衣下，圓潤如玉，皓如凝脂，光線照射著錯落有致的火 焰狀淡白生長紋，奪目非常。海螺珠總重約 170 克拉，配以珠琢型切割鑽石及籽珠相間，設計清雅脫俗，市場罕見。

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2044

2044 AN IMPORTANT CONCH PEARL AND DIAMOND NECKLACE Set with 25 conch pearls measuring approximately 15.14 x 12.10 to 9.16 x 6.90 mm, weighing approximately 170 carats in total, spaced by seed pearls, and diamond briolettes, to the circular-cut diamond clasp, mounted in 18K gold, approximately 43 cm long Accompanied by SSEF Book, 2014, report no.74006 and Appendix letter, natural conch pearls, light pink to pink and orangey pink, no indications of colour treatment Please note that the reports are more than 5 years old and might require an update 天然海螺珠配鑽石項鏈 18K金鑲嵌25顆天然海縲珠，總重約170克拉，海螺珠尺寸約15.14 x 12.10至9.16 x 6.90毫米，珠琢型鑽石及籽珠相間，配以鑽石鏈扣，項鏈長約43 cm

附SSEF證書及附錄信

HKD 4,800,000-8,800,000 USD 611,500-1,121,000 71

2045

2046

2046 2045 A DIAMOND AND COLORED DIAMOND RING Set with a round brilliant-cut diamond weighing 1.65 carats, within an onyx surround and eight triangular-cut diamonds, embellished with a round brilliantcut fancy deep greenish yellow diamond of 1.02 carats, and a round brilliantcut fancy deep orangy yellow diamond of 1.01 carats, accented with circular-cut diamonds, mounted in 18K gold, ring size 6 GIA, 2018, report no.5192024040: 1.65 carats, F colour, I1 clarity

Set with a cushion-shaped fancy yellow green diamond weighing 3.51 carats, within circular-cut diamond surround of pink hue, decorated with marquise and pear-shaped diamonds, to the circular-cut diamonds gallery and halfhoop, detachable to wear as a pendant, mounted in 18K gold, ring size 6 1/2 GIA, 2015, report no. 6191945032: 3.51 carats, fancy yellow green, SI1 clarity

GIA, 2015, report no.3215096169: 1.02 carats, fancy deep greenish yellow colour, VVS2 clarity

3.51克拉彩黃綠色鑽石配鑽石戒指/掛墜

GIA, 2016, report no.6221617245: 1.01 carats, fancy deep orangy yellow colour, SI1 clarity

切割鑽石，配鑲8顆梨形及欖尖形鑽石，共重約2.96克拉，配鑲圓形切割鑽

鑽石配彩色鑽石戒指

HKD 280,000-880,000 USD 35,700-112,100

18K金鑲嵌1.65克拉F色I1圓形鑽石，1.02克拉圓形深彩綠黃色VVS2鑽石，及 1.01克拉深彩橙黃色SI1鑽石，配鑲黑瑪瑙，三角形及圓形切割鑽石，戒指6號

附GIA證書

HKD 180,000-280,000 USD 22,900-35,700 72

A 3.51 CARAT FANCY YELLOW GREEN DIAMOND AND DIAMOND RING/PENDANT

18K金鑲嵌3.51克拉枕形彩黃綠色鑽石，淨度SI1，周圍點綴粉色調圓形

石，戒指可拆做掛墜，戒指6 1/2號

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2047

2047 The name “Zimmi” refers to a small town in the Pujehun district of Sierra Leone, located right in the middle of the “Moa” and “Mano” rivers’ Delta. This mining area has known to produce some of the world’s most amazing canary yellow diamonds. The diamonds from the region’s Zimmi mine have such a highly saturated yellow color, which is caused by isolated nitrogen impurities. They stand apart from all others and are known as Zimmi Yellow Diamonds. Lot 2047 is one of the unique Zimmi yellow

A 5.27 CARAT FANCY VIVID YELLOW DIAMOND AND DIAMOND RING Set with a pear-shaped fancy vivid yellow diamond weighing 5.27 carats, within a circular-cut diamond-set surround, to a circular-cut diamond gallery and half hoop, 18K gold, ring size 6 GIA, 2019, report no.6203650076: 5.27 carats, fancy vivid yellow colour, VVS2 clarity

diamond ring, with mesmerizing bright fancy vivid yellow color.

5.27克拉豔彩黃色鑽石配鑽石戒指 “ Zimmi”是指塞拉利昂Pujehun區的一個小鎮，位於“ Moa”河和“ Mano”

18K金鑲嵌5.27克拉梨形豔彩黃色鑽石，淨度VVS2，配鑲圓形鑽

河三角洲中間的礦區。該礦區是世界上公認最罕見炫耀黃色鑽石的來源地。產自

石，戒指6號

Zimmi礦區的黃色鑽石因存在一定氮元素而擁有超常高飽和度的色澤，使得每一顆

附GIA證書

Zimmi黃鑽仿佛身披金色縷衣。此件作品正是這樣一顆擁有明亮金黃色光澤的稀有 Zimmi黃色鑽石戒指，耀目非凡。

HKD 1,200,000-3,200,000 USD 152,900-407,600 75

2048

2048 THE PROPERTY OF A PRIVATE COLLECTOR A 3.06 CARAT FANCY PINK-PURPLE DIAMOND AND DIAMOND RING Set with a pear-shaped fancy pink-purple diamond weighing 3.06 carats, within a circular-cut diamond of pink hue surround, weighing approximately 0.12 carat, framed by baguette and brilliant-cut diamonds, to the circular-cut pavé-set diamond hoop, diamond weighing approximately 7 carats in total, mounted in 18K gold, ring size 9 3/4 GIA, 2015, report no.6195075140: 3.06 carats, fancy pink-purple colour, VS2 clarity Please note that the GIA report is over 5 years old and may require an update

私人收藏 3.06克拉彩粉紫色鑽石配鑽石戒指 18K金鑲嵌3.06克拉梨形彩粉紫色鑽石，淨度VS2，配鑲圓形粉色調鑽石共重約0.12 克拉，及長方形及圓形鑽石共重約7克拉，戒指9 3/4號

附GIA證書

HKD 1,200,000-3,600,000 USD 152,900-458,600 76

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CARTIER

2049

2049 A 8.05 CARAT DIAMOND RING, BY CARTIER Set with rectangular-shaped diamond of 8.05 carats, flanked on each side with tapered baguette-cut diamonds, mounted in platinum, ring size 6 3/4, Signed Cartier, no. BO11570 GIA, 2018, report no. 2191817820, 8.05 carats, E color, VVS2 clarity, excellent polish 卡地亞設計，8.05克拉鑽石戒指 鉑金鑲嵌8.05克拉階梯形E色VVS2鑽石，極優評級打磨，配鑲階梯形鑽石，戒指 6 3/4號，印有卡地亞品牌印記及編號

附GIA證書

HKD 2,200,000-3,200,000 USD 280,300-407,600 79

80

HARRY WINSTON

2050

2050 AN 8.88 CARAT D COLOR, FLAWLESS, TYPE IIA DIAMOND RING, BY HARRY WINSTON Set with a pear-shaped diamond of 8.88 carats, flanked on each side with tapered baguettecut diamonds, mounted in platinum, ring size 6, Signed HW for Harry Winston, no. 270268 GIA, 2019, report no. 2195969689, 8.88 carats, D color, flawless clarity, excellent polish and symmetry Also accompanied by a GIA diamond type classification report stating that the 8.88 carat round brilliant diamond is determined to be a Type IIa diamond Type IIa diamonds are the most chemically pure type of diamond and often have exceptional optical transparency 海瑞·溫斯頓設計，8.88克拉D色TYPE IIA鑽石戒指，淨度無瑕 鉑金鑲嵌8.88克拉梨形D色TYPE IIA鑽石，淨度無瑕，極優評級打磨及對稱，配鑲階梯 形鑽石，戒指6號，印有海瑞·溫斯頓品牌印記及編號

附GIA證書

HKD 4,800,000-5,600,000 USD 611,500-713,400 81

2051

2052

2051 A PAIR OF COLORLESS JADEITE, COLORED SAPPHIRE AND DIAMOND EAR PENDANTS

2052

Two colorless oval jadeite cabochons, cabochons measuring approximately 11.09 -11.1x5.26 mm, surrounded with circular-cut diamonds and colored sapphires, diamond weighing 0.25 carats in total, mounted in 18K gold, approximately 5.6 cm long

Comprising a ring, centering on a jadeite 'gourd' of green colour, framed by circularcut diamonds, accentde by pear-shaped diamonds and rubies; a pair of earrings ensuite set with two jadeite cabochons of similar material and design, all mounted in 18K gold, the largest jadeite 'gourd' measuring approximately 14.73 x 8.53 x 2.36 mm, ring size 6 1/2, earrigns approximately 5.0cm long

Accompanied by report no. SJ193736 dated 20 May 2020 from HK Jade & Stone Lab stating that the pair of colorless oval jadeite cabochons are natural jadeite, with no indications of treatment and comments that these type of jadeite may also be called "Type A" in the trade

A SET OF JADEITE AND DIAMOND JEWELRY

Accompanied by report no. SJ193762 & SJ193757 dated 22 May 2020 from HK Jade & Stone Lab stating that both oval jadeite cabochons are natural jadeite, with no indications of treatment and comments that these type of jadeite may also be called "Type A" in the trade

緬甸天然翡翠配鑽石及彩色寶石耳環 18K金鑲嵌緬甸天然冰種翡翠蛋面，配鑲圓形切割鑽石及彩色寶石，翡翠蛋

緬甸天然翡翠配鑽石及紅寶石耳環及戒指套裝

面約 11.09 - 11.12 x 5.26 mm，耳環長約 5.6 cm

18K金鑲嵌天然翡翠葫蘆造型耳環及戒指，配鑲鑽石及紅寶石，最大葫蘆尺寸約

附香港玉石鑑定中心證書

14.73 x 8.53 x 2.36mm，鑽石總重 3.20 克拉，耳環長約 5.0 cm，戒指6 3/4號

HKD 35,000-85,000 USD 4,500-10,800

82

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

附香港玉石鑑定中心證書

HKD 80,000-160,000 USD 10,200-20,400

2053

2053 A LAVENDER JADEITE, RUBY, SAPPHIRE AND JADEITE, DIAMOND PENDANT NECKLACE Centering on a lavender jadeite cabochon with good translucency, measuring approximately 23.12 x 22.26 x 11.19 mm, set within a circular-cut ruby and white sapphire surround, embellished with a translucent oval jadeite cabochon of green colour, mounted in 18K gold, pendant approximately 4.3 cm long, a 925 silver necklace aprox. 46 cm long Accompanied by report no. SJ193737 dated 20 May 2020 from HK Jade & Stone Lab stating that the lavender oval jadeite cabochon is natural jadeite, with no indications of treatment and comments that these type of jadeite may also be called "Type A" in the trade 緬甸天然紫羅蘭翡翠蛋面配紅寶及白色剛玉、天然翡翠蛋面配鑽石掛墜項鏈 18K玫瑰金鑲嵌天然紫羅蘭翡翠蛋面，翡翠蛋面約 23.12 x 22.26 x 11.19 mm, 配 鑲紅寶，白色剛玉及橢圓形翡翠蛋面，掛墜長約 4.3 cm，925純銀項鏈長約 46 cm

附香港玉石鑑定中心證書

HKD 50,000-80,000 USD 6,400-10,200 紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

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2054

2054

THE PROPERTY OF A PRIVATE COLLECTOR A PAIR OF JADEITE AND DIAMOND EAR PENDANTS Each suspending a tube-shaped jadeite of intense green colour and good translucency, jadeite tube measuring approximately 25mm long x 5.25mm thickness, set in an elegant form with two pear-shaped rose-cut diamonds and diamonds in the surround, link and surmount together, mounted in 18K gold, with a diamond broilette dangling at the bottom, ear pendants 7.4 cm long Accompanied by report no. SJ193755 dated 22 May 2020 from HK Jade & Stone Lab stating that the cylinder-shaped jadeite is natural jadeite, with no indications of treatment and comments that these type of jadeite may also be called "Type A" in the trade

私人收藏 緬甸天然「管形」翡翠配鑽石耳環 18K金鑲嵌'管形'緬甸天然翡翠，配鑲玫瑰式切割梨形鑽石及圓形切割鑽石，耳環最低部 懸掛著一粒水滴形鑽石，'管形''翡翠約長 25 mm，厚度約 5.25 mm，耳環長約 7.4 cm

附香港玉石鑑定中心證書

HKD 120,000-240,000 USD 15,300-30,600

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

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2055 THE PROPERTY OF A PRIVATE COLLECTOR A JADEITE BEAD AND DIAMOND NECKLACE Comprising of seventy-five jadeite bead of emerald green colour, measuring approximately 5.81 to 9.3 mm, spaced by twenty diamond spacers and two decorative diamond sideplaques, small sparkling diamond briolettes dangling from the side-plaques, with a diamond clasp, mounted in 18K gold, approximately 91.5 cm long Accompanied by report no. KJ101855 dated 1 June 2020 from HK Jade & Stone Lab stating that the jadeite bead is natural green Fei Cui, with no indications of treatment and comments that these type of jadeite may also be called "Type A" in the trade

私人收藏 緬甸天然翡翠珠配鑽石項鏈 項鏈由75顆翠綠緬甸天然翡翠珠串連而成，直徑約 9.3 至 5.81 mm，以鑽石環相間，兩側配鑲精細鑽石掛飾，懸掛 著熠熠生輝的水滴形鑽石，配鑲 18K金鑽石鏈扣，項鏈長約 91.5厘米

附香港玉石鑑定中心證書

HKD 880,000-1,800,000 USD 112,100-229,300 2055 (Reduced Size)

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2056

2056 A FINE LAVENDER JADEITE BANGLE The vivid lavender cylindrical circular form of high translucency and fine-textured lavender jadeite bangle, inner diameter approximately 56.98 mm, and thickness approximately 10.40 mm, weighing total 302.79 carats Accompanied by report no. KJ101827 dated 20 May 2020 from HK Jade & Stone Lab stating that the lavender jadeite bangle is natural Fei Cui, with no indications of treatment and comments that these type of jadeite may also be called "Type A" in the trade 緬甸天然紫羅蘭翡翠手鐲 緬甸天然紫羅蘭翡翠手鐲，手鐲內徑 56.98 mm，厚度約10.40 mm， 台灣尺寸18.5，總重約302.79 克拉

附香港玉石鑑定中心證書

HKD 2,200,000-3,600,000 USD 280,300-458,600 89

We are honoured in this auction to offer these earrings with two perfectly matched jadeite cabochons and it showcases the absolute finest-quality of jadeites - almost transparent with a vibrant and vivid green colour, and without obvious veins and cloudiness. The combination of these qualities is known as “Imperial Jade”, as opinions from prestigious gemmological laboratory Gübelin confirms in its reports. The jadeite cabochons measuring 16.35 x 14.70 mm and 16.35 x 14.65 mm, weighing approximately 27.73 carats in total, the colour is pure and penetrating, a vivid hue with no hint of grey that looks bright and intensive even from a distance. With light entering and penetrating below the surface of the stone, the semi-transparent jadeite like this displays an alluring brilliance. It almost glows like glistening water, intensifying the charm of its lush green colour, a rarity in the world’s collection of its kind.

90

當由地質運動產生的翡翠原生礦經過水流的搬運、沖刷、浸泡後，質地粗鬆的礦石山料被 漸漸風化和淘汰，而保留在下游河床中的翡翠經歷了大自然的篩選而形成次生礦。其出產 的翡翠顏色均勻、水頭十足、結構緻密並且質地細膩。而「帝王綠」翡翠的形成，除了要 翡翠成礦期溫度的高低、壓力的強弱和形時間長短的恰到好處，更需要致色元素鉻離子的 配合。當玉料中最完美的部分被小心翼翼的取出，精心打磨，最終呈現於世人眼前的這一 套完美翡翠蛋面耳環，當光線在內部折射，展現水潤柔和的光彩，仿佛找到了玉料珍貴的 靈魂之所在。 此套由「帝王綠」翡翠蛋面及鑽石鑲嵌而成的耳環，正是清澈澄透的頂級「帝王綠」翡翠 的完美展示，它們形狀周正圓潤，弧面平滑豐滿，無需過多雕琢，舒展自如地展現著濃郁 明亮的綠，散發著圓滿包容的內涵。翡翠蛋面尺寸達到了16.35 x 14.70 mm及16.35 x 14.65 mm, 總重約27.73克拉，大氣尊貴之氣儘顯，加之內裡質地幾近全無暇疵， 冰清 玉瑩， 通透如水，並且匹配度極高，在收藏界實屬罕見。

2057

2057 A FINE PAIR OF IMPERIAL-GREEN JADEITE AND DIAMOND EARRINGS Each set with an oval jadeite cabochon of “imperial green” colour and high translucency, weighing 13.85 and 13.87 carats respectively, surrounded by brilliant-cut diamonds, stated to weight 3.40 carats in total, jadeite cabochon measuring 16.35x14.70 mm and 16.35x14.65 mm, mounted in 18K gold, approximately 2.2 cm long.

Accompanied by report no. 20021082 dated 24 February 2020 from Gübelin stating that the pair of oval jadeite cabochons are natural jadeite jade, with no indications of treatment and comments that these type of jadeite may also be called "Imperial Jade" in the trade, this refers to the finest specimen of “Type A” jadeite jade.

Accompanied by report no. KJ101840 dated 22 May 2020 from HK Jade & Stone Lab stating that the oval jadeite cabochon is natural green Fei Cui, with no indications of treatment and comments that these type of jadeite may also be called "Type A" in the trade 碩大罕有 緬甸天然「帝王綠」翡翠蛋面配鑽石耳環 18K金鑲嵌緬甸天然‘帝王綠’翡翠蛋面重13.85及13.87克拉，尺寸約16.35 x 14.70 mm 及16.35 x 14.65 mm，耳環長約2.2cm，配鑲圓形鑽石共重約3.70克拉， 配備直針及耳環托

附Gübelin證書及附錄信，及香港玉石鑑定中心證書

HKD 2,800,000-6,800,000 USD 356,700-866,200 91

AN EXTRAORDINARY SET OF JADEITE CABOCHON AND DIAMOND JEWELRY We are honoured in this auction to offer this jewellery set with seventeen smoothly carved and perfectly matched jadeite cabochons, a rarity in the world’s collection of its kind. It showcases the absolute finest-quality of jadeites - almost transparent with a vibrant and vivid green colour, and without obvious veins and cloudiness. The largest jadeite cabochon measures approximately 18.36 x 15.86 x 6.49 mm. As the prestigious gemmological laboratory Gübelin states: “the matched set of seventeen polished jadeites possesses a richly saturated and evenly distributed green colouration, combined with the high translucency as well as their very fine texture. Such a combination of characteristics make of this set of green jadeite a piece of matching beauty and importance.

此套由十七顆翡翠蛋面及鑽石鑲嵌而成的項鏈及耳環，冰清玉瑩， 通透如水，最大翡翠蛋面尺寸 達到了18.36 x 15.86 x 6.49 mm，大氣尊貴之氣儘顯。古柏林寶石鑒定所的附加信中評價道： 這組匹配度極高的十七顆翡翠蛋面濃郁飽滿，色澤明豔均勻，加之水頭十足且質地細膩，如此的 組合，極具美感，有著當之無愧的重要地位，堪稱極品！

92

93

14.77 cts

6.73 cts

6.65 cts

15.03 cts

6.78 cts

7.73 cts

7.42 cts

6.89 cts

7.03 cts

7.02 cts 8.27 cts 8.49 cts

13.82 cts

14.90 cts

12.74 cts

94

8.45 cts

8.74 cts

2058

2058 AN EXTRAORDINARY SET OF JADEITE CABOCHON AND DIAMOND JEWELRY Comprising a necklace, set in two rows with fifteen oval jadeite cabochons of intense green and high translucency, spaced by a line of three brilliant-cut diamonds, diamonds stated to weight 34.73 carats; a pair of earrings en-suite set with two jadeite cabochons of similar material, each decorated with 1 carat diamond; all mounted in 18K gold, estimated total weight of the jadeite cabochons approximately 161.46 carats, measuring from 18.36x15.86x6.49 mm to 12.39x11.64x5.62 mm, necklace approximately 44.8 cm long, earrings 2.4 cm long Accompanied by report no. 20011136 dated 30 January 2020 from Gübelin stating that all seventeen oval jadeite cabochons are natural jadeite, with no indications of treatment and comments that these type of jadeite may also be called "Type A" in the trade Accompanied by report no. KJ101838 & KJ101839 dated 22 May 2020 from HK Jade & Stone Lab stating that the oval jadeite cabochons are natural green Fei Cui, with no indications of treatment and comments that these type of jadeite may also be called "Type A" in the trade 珍稀絕倫 緬甸天然翡翠蛋面配鑽石項鏈及耳環套裝 18K金鑲嵌17顆緬甸天然翡翠蛋面項鏈及耳環套裝，翡翠蛋面總重約161.46 克拉，尺寸18.36 x 15.86 x 6.49 mm 至12.39 x 11.64 x 5.62 mm，配鑲圓形切割鑽石，鑽石 共重約36.73克拉，項鏈長約44.8 cm，耳環長約2.4 cm

附Ｇübelin證書及附錄信，證書編號20011136及香港玉石鑑定中心證書

HKD 15,000,000-20,000,000 USD 1,910,800-2,547,800 95

Session 2 Important Watch Lot 2059 - 2120

第二節 名貴鐘錶

Lot 2077

JAEGER-LECOULTRE Atmos

Invented in 1928, the Jaeger‑LeCoultre's Atmos

2059

clock utilises air as the source of energy. Not needing

JAEGER-LECOULTRE

manual winding, the clock automatically winds itself

A CLASSICAL GILT BRASS AND PLEXIGLASS ATMOS CLOCK

by the expansion and contraction of gases due to temperature differences. Since then, the Atmos

Atmos, CIRCA 1990

clock has been the Swiss government’s official gift

Movement : Mechanical movement wounded by changes in temperature, cal.

526-5, 15 jewels, signed

for important guests. Besides its complicated and creative mechanism, the unique design allows the clock to be observed from every angle, giving the Atmos clock a classic and timeless character.

Dial : Skeletonised dial with white chapter ring, applied gilt Arabic and baton numerals, signed Case : Gilt brass rectangular case with aperture for the pendulum and small glazed aperture for the water level, signed With : Jaeger-LeCoultre presentation box

1928年，積家創造出了一項偉大的發明——Atmos空氣 鐘，利用空氣為鐘錶提供動力。無需人手操作，當溫度產 生變化，座鐘便會隨著密封罩內的混合氣體的膨脹與收

Condition Report Grade 1.5

縮，不斷為自己上鏈。半個多世紀以來，積家空氣鐘一直

積家

是瑞士政府饋贈貴賓的官方禮物。除了複雜而又耐人尋味

經典精美，鍍金黃銅及樹脂玻璃空氣鐘，「Atmos」，年份約1990，附原廠盒子

的走時機制外，還可以從多個角度觀察其內部運作，獨特 的設計讓空氣鐘散發經典雋永的光芒。

98

Measurement 180 × 135 × 220 mm

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

HKD 10,000-20,000 USD 1,300-2,500

JAEGER-LECOULTRE Marina

2060 JAEGER-LECOULTRE A FINE AND RARE, GILT BRASS AND PLEXIGLASS ATMOS CLOCK WITH HANDENGRAVED SAILBOAT MOTIFS Marina, CIRCA 1970 Movement : Mechanical movement wounded by changes in temperature, cal. 528-6, 15 jewels, signed Dial : White dial with applied gilt Arabic and baton numerals, gilt hands with blackened tips, signed Case : Gilt brass rectangular case with plexiglass panels, applied hand-engraved sailboat motifs, aperture for the pendulum, signed Measurement 180 × 135 × 235 mm Condition Report Grade 1.5

Left side motif 左图

Right side motif 右图

The Atmos collection includes a number of exceptional designs. The present clock shows a vintage caravel motifs designed by artist Marina.

積家

The gilt caravel motifs are exquisitely engraved in three-dimension,

精緻罕有，鍍金黃銅及樹脂玻璃空氣鐘，備漁船圖案，「Marina」，年

depicting a vivid maritime landscape.

份約1970

HKD 15,000-25,000 USD 1,900-3,200

Atmos空氣鐘系列包括多款傑出的設計。這件拍品展現的是藝術家Marina 設計的復古帆船圖案。浮在海浪之上的鍍金帆船，被細膩地雕繪成3D立體結 構，栩栩如生地再現海洋的迷人風景。

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

99

PATEK PHILIPPE Enamel Dishes

2061

Since 1997, Patek Philippe has selected the most important

PATEK PHILIPPE

collective items from the archives in its museum and printed on the

A GROUP OF THREE, VERY FINE AND RARE, LIMITED EDITION LIMOGES PORCELAIN AND ENAMEL DISHES

commemorative porcelain dishes as a gift for their premium clients. The manufacturers of these precious porcelains are from the world-famous French porcelain town of Limoges. The region has been designated by

Signed Patek Philippe and Limoges France, dated 2013, 2016, 2018

the French King to supply porcelain to the royals since the mid-18th

Case : Comprising of 2013 "Fleurs De Pavots", 2016 floral motif, and 2018 hunting dogs motif, each commemorating a unique timepiece produced by Patek Philippe

century, and has won the royal family's trust. The three items of this lot's

Measurement 185 × 185 mm

in the Patek Philippe Museum. The most exquisite porcelain pays tribute

Condition Report Grade 1

to the craftsmanship of the outstanding timepieces, this rare lot is highly

original design idea were drawn from Patek Philippe's enamel pocket watches made in 19th to 20th century. These three watches are all put

memorable and definitely worth collection. 百達翡麗 非常精美罕有，紀念款一組三件，陶瓷及琺瑯碟子， Limoges 2013、 2016、2018年製

HKD 8,000-20,000 USD 1,000-2,500

自1997年開始，百達翡麗會將自己博物館的重要藏品印製在瓷器碟子上，贈 送給品牌最最尊貴的客人。這些珍貴瓷器的製造商則是來自享譽世界的 法國瓷 器重鎮Limoges，該地區所打造的最精美的瓷器，自18世紀中期起，就成為法 國國王指定的瓷器精品供應地區，深得皇室信賴。 此次上拍的三件作品，設計 原型分別來自19至20世紀製的琺瑯懷錶。最精美的瓷器，致敬最經典而傑出 的鐘錶藝術，拍品數量稀少，極具紀念意義與收藏價值。

100

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

PATEK PHILIPPE Enamel Dishes and Tie

2062 PATEK PHILIPPE A GROUP OF FOUR, VERY FINE AND RARE, LIMITED EDITION LIMOGES PORCELAIN AND ENAMEL DISHES AND A TIE Signed Patek Philippe and Limoges France, dated 2009, 2011, 2012 Case : Comprising of 2009 pearls and diamonds motif, 2011 “Fleurettes et feuillage”, and 2012 "Guirlande", each commemorating a unique timepiece produced by Patek Philippe With : Patek Philippe presentation box for each plate and the tie Measurement 160 × 200 mm, 115 x 90 mm, 185 × 185 mm Condition Report Grade 1 百達翡麗 非常精美罕有，紀念款一組四件，陶瓷及琺瑯碟子跟領呔一條， Limoges 2009、2011、2012 年製

HKD 8,000-20,000 USD 1,000-2,500

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

101

LADIES WATCHES

2064 DEWITT A FINE LIMITED EDITION, WHITE GOLD AND DIAMOND-SET AUTOMATIC WRISTWATCH WITH RETROGRADE SECONDS Academia Seconde Retrograde, Ref. AC.1102.48-102.M662-102L, limited number of 250 pieces, CIRCA 2012

2063

Movement : Automatic, cal. DW1102, 21 jewels, signed

CHOPARD

Dial : Mother-of-pearl dial with diamond-set hour indexes and retrograde seconds aperture between 5 and 7, signed

A FINE LADY'S STAINLESS STEEL AND DIAMOND-SET BRACELET WRISTWATCH, WITH SMALL SECONDS

Case : White gold diamond-set case and lugs, and sapphire crystal display back, case back secured by 6 screws, signed

La Strada, Ref. 418415-3001, CIRCA 2016 Movement : Quartz, signed

With : White gold DeWitt pin buckle Diameter 43 mm Condition Report Grade 2

Dial : White dial with seconds aperture at 6, signed Case : Stainless steel curved rectangular case with diamondset bezel, case back secured by 4 screws, signed With : Stainless steel Chopard bracelet Measurement 23 × 33 mm, approximate length 170 mm Condition Report Grade 2 蕭邦 精美，女裝精鋼鑲鑽石鏈帶腕錶，備小秒針，「La Strada」，型號 418415-3001，年份約2016

HKD 10,000-30,000 USD 1,300-3,800

102

迪威特 時尚精美，限量版白金鑲鑽石自動腕錶，備逆跳秒針顯示，「Academia 秒針逆跳 顯示」，型號 AC.1102.48-102.M662-102L，限量生產250枚，年份約 2012

HKD 50,000-100,000 USD 6,400-12,700

LADIES WATCHES

2066 CHOPARD A FINE AND ATTRACTIVE, LADY'S WHITE GOLD AND DIAMONDSET WRISTWATCH, WITH FLOATING DIAMONDS ADORNMENT Happy Diamonds, "Happy Sun", Ref. 207470-1002, CIRCA 2017 Movement : Quartz, signed

2065

Dial : Mother-of-pearl dial with three floating diamond adornment, signed

CHANEL

Case : White gold case with diamond-set bezel and lugs, case back secured by 8 screws, signed

A FINE LADY'S WHITE GOLD AND DIAMOND-SET OCTAGONAL WRISTWATCH Premiere Mini, CIRCA 2016 Movement : Quartz, signed Dial : Black dial, signed Case : White gold octagonal case with baguette diamond-set bezel, signed With : White gold Chanel clasp, Certificate of Authenticity Measurement 20 x 26 mm

With : White gold Chopard pin buckle, Certificate of Origin and presentation box Diameter 40 mm Condition Report Grade 1.5 蕭邦 獨特精美，女裝白金鑲鑽石腕錶，備懸浮鑽石裝飾，「Happy Diamonds 」， "Happy Sun"，型號207470-1002，年份約2017，附原廠證書及錶盒

HKD 75,000-150,000 USD 9,600-19,100

Condition Report Grade 1 香奈兒 精美，女裝白金鑲鑽石，八邊形腕錶，「Premiere Mini」， 年份約2016，附原廠證書

HKD 28,000-58,000 USD 3,600-7,400

103

CARTIER Ballon Bleu de Cartier

2067 CARTIER A FINE LADY'S WHITE GOLD, DIAMOND AND SAPPHIRE-SET AUTOMATIC WRISTWATCH Ballon Bleu de Cartier, CIRCA 2018 Movement : Automatic, signed Dial : Pavé diamond-set dial, signed Case : White gold case with diamond-set bezel, lugs and sapphire-set crown, case back secured by 8 screws, signed With : White gold Cartier folding clasp Diameter 40 mm Condition Report Grade 2 卡地亞 精美，女裝白金鑲鑽石自動腕錶，「Ballon Bleu de Cartier」，年份約2018

HKD 70,000-180,000 USD 8,900-22,900

104

BREGUET Reine De Naples

2068 BREGUET AN ELEGANT LADY'S ROSE GOLD AND DIAMOND-SET OVOID AUTOMATIC WRISTWATCH Reine De Naples, Ref. 8928BR/8D/944/DD0D, CIRCA 2018 Movement : Automatic, cal. 586/1, 29 jewels, signed Dial : Pavé diamond-set dial with mother-of-pearl chapter ring, signed Case : Rose gold ovoid case with diamond-set bezel, lug, crown and sapphire crystal display back, case back secured by 6 screws, signed Measurement 33 × 25 mm Condition Report Grade 1.5 寶璣 優雅，女裝玫瑰金鑲鑽石鵝蛋形自動腕錶，「Reine De Naples」，型號 8928BR/8D/944/DD0D，年份約2018

HKD 100,000-220,000 USD 12,700-28,000

105

106

HARRY WINSTON Platinium and Diamond-Set Bracelet Watch

2069 HARRY WINSTON AN ATTRACTIVE AND VERY FINE LADY'S PLATINUM AND DIAMOND-SET BRACELET WATCH CIRCA 2010 Movement : Quartz, signed Dial : Pavé diamond-set dial Case : Platinum case with diamond-set bezel, signed With : Platinum Harry Winston diamond-set bracelet with 144 diamonds Diameter 30 mm, approximate length 180 mm Condition Report Grade 1 海瑞·溫斯頓 瑰麗精美，女裝鉑金鑲鑽石鏈帶腕錶，年份約2010

HKD 350,000-650,000 USD 44,600-82,800

107

DELANEAU Delicate Lozenge

2070 DELANEAU A PIECE UNIQUE AND ATTRACTIVE LADY'S ROSE GOLD, EMERALD, SAPPHIRE AND DIAMOND-SET LOZENGE-SHAPED MECHANICAL BRACELET WATCH Delicate Lozenge, Ref. DEL008 RG, CIRCA 2019 Movement : Manual, cal. 615, 29 jewels, signed Dial : Bluish opal dial, signed Case : Rose gold lozenge-shaped emerald, sapphire and diamond-set case, sapphire crystal display back, case back secured by 6 screws, signed With : DeLaneau rose gold emerald, sapphire and diamond-set bracelet, Certificate of Origin and presentation box Measurement 20 × 25 mm, approximate length 160 mm Condition Report Grade 1 帝后 獨一無二，秀麗罕有，女裝玫瑰金鑲鑽石、藍寶石及綠寶石菱 形機械鏈帶腕錶，「Delicate Lozenge」，型號DEL008 RG OB000，年份約2019，附原廠證書及錶盒

HKD 300,000-620,000 USD 38,200-79,000

This lot Delicate Lozenge is created by DeLaneau with long watchmaking history. It is limited to only one piece in the world, which is an unparalleled rare item. This wristwatch is made of rose gold. The lozenge-shaped case is inlaid with 8 brilliant-cut diamonds, 4 sapphires and 4 oval-shaped emeralds. The dial is polished by a bluish green opal and the watch is equipped with a manualwinding movement. The bracelet is decorated with 30 brilliant-cut diamonds, 5 lozenge-shaped sapphire and 4 oval-shaped emeralds. The net weight of the diamonds, emeralds and sapphires is 8.79, 4.69 and 4.28 carats respectively.

This wristwatch, with the delicate gemstones, is extremely attractive and stylish, which perfectly matches with an elegant and graceful lady.

108

本拍品Delicate Lozenge由擅於鐘錶創作的帝后錶所悉心打 造，全球限量僅一枚，為無與倫比的罕有逸品。此腕錶採用了 玫瑰金材質，菱形錶殼上鑲嵌了8顆圓形切割鑽石、4顆藍寶石 跟4顆橢圓形綠寶石，錶面則由呈藍綠色的蛋白石磨製而成， 配備了手動上弦的機芯。而鏈帶上以30顆圓形切割的鑽石、 5顆菱形切割的藍寶石跟4顆橢圓形綠寶石作裝飾，整體的鑽 石、綠寶石跟藍寶石分別淨重8.79、4.69及4.28克拉，腕錶秀 麗動人，寶石通透而極具美感，襯托了淑女高雅婉約的特質。

DELANEAU Delicate Flower

2071 DELANEAU A PIECE UNIQUE AND FINE LADY'S ROSE GOLD DIAMOND, RUBY AND ORGANGE SAPPHIRE-SET FLOWER-SHAPED MECHANICAL BRACELET WATCH Delicate Flower, Ref. DEL001 RG, CIRCA 2019 Movement : Manual, cal. 615, 29 jewels, signed Dial : Pavé diamond-set dial, signed Case : Rose gold flower-shaped baguette ruby-set case, sapphire crystal display back, case back secured by 6 screws, signed With : DeLaneau rose gold with diamond, ruby and orange sapphire-set bracelet, Certificate of Origin and presentation box Diameter 25 mm, approximate length 180 mm Condition Report Grade 1 帝后 精緻罕有，獨一無二，女裝玫瑰金鑲鑽石、紅寶石及橙色藍寶石花形機械鏈帶腕錶， 「Delicate Flower」，型號 DEL001 RG PV***，年份約2019，附原廠證書及錶盒

HKD 300,000-600,000 USD 38,200-76,400

This model Delicate Flower is crafted by DeLaneau with rich watchmaking experience. It is limited to only one piece in the world, and it is a unique and exquisite lady’s wristwatch. This wristwatch is made of rose gold. The six-petal flower-shaped case is inlaid with 20 baguette-cut rubies, and the dial is covered with 70 diamonds. It is also equipped with a manualwinding movement. The bracelet is decorated with 24 navette-cut orange sapphires, 20 navette-cut rubies and 21 diamonds. The net weight of the rubies, diamonds and orange sapphires is 9.46, 6.14 and 4.3 carats respectively. The wristwatch looks glamorous, as if the flower blooms brilliantly on the wrist, revealing the lively yet elegant character of a lady.

本拍品Delicate Flower由具有豐富製錶經驗的帝后錶所精 心打造，全球限量僅一枚，為絕無僅有的精美瑰品。此腕錶 採用了玫瑰金材質，六瓣花形錶殼上鑲嵌了20顆方形切割的 紅寶石，錶面則由70顆鑽石鋪滿而成，搭載了手動上弦的機 芯。而鏈帶上以24顆橄欖形切割的橙色藍寶石、20顆橄欖形 切割的紅寶石跟21顆鑽石作點綴，整體的紅寶石、鑽石跟橙 色藍寶石分別淨重9.46、6.14跟4.3克拉，鮮花嬌艷欲滴，彷 彿在手腕上燦爛綻放，顯露了淑女活潑又不失優雅的氣質。

109

110

DELANEAU Jewellery Magic Ruby

2072 DELANEAU A PIECE UNIQUE AND FINE LADY'S WHITE GOLD, DIAMOND AND BAGUETTE RUBY-SET MECHANICAL BRACELET WATCH WITH A HIDDEN DIAL Jewellery Magic Ruby, Ref. MAG004, CIRCA 2019 Movement : Manual, cal. 610, 21 jewels, signed Dial : Mother-of-pearl dial with ruby-set hour indexes, signed Case : White gold diamond-set case, baguette ruby-set halfdome cover, sapphire crystal display back, case back secured by 5 screws, signed With : DeLaneau white gold diamond and ruby-set bracelet, Certificate of Origin and presentation box Diameter 25 mm, approximate length 175 mm Condition Report Grade 1 帝后 全球唯一，瑰麗罕有，女裝白金鑲鑽石及梯型紅寶石，機械鏈帶腕錶， 備隱藏錶盤，「Jewellery Magic Ruby」，型號MAG004 WG 79 NA002 W122，年份約2019，附原廠證書及錶盒

HKD 1,000,000-2,500,000 USD 127,400-318,500

Founded in Switzerland in 1880, DeLaneau specializes in women’s watches and is famous for its highly creative and personalized design in the watch industry. The artistic jewelry watches in limited production are greatly favored by stars and celebrities, which marks as a wondrous achievement for DeLaneau. Drawing inspiration from the dome, a common but iconic architectural structure, DeLaneau creates a unique model Magic Rubies to celebrate the grand art of architecture. When setting the rubies on the dome, the gemsetter used a very complicated invisible setting method, which allows the gems to be inlaid closely without revealing any prongs. Only a few gemsetters can master this professional gemsetting method. By rotating the dome cover gently, one can see the case made of 18K white gold, the bezel set with shiny diamonds and the mother-of-pearl dial. This wristwatch contains a total of 329 rubies and 1034 diamonds, with a net weight of 14.05 and 9.71 carats respectively. It perfectly reflects the extraordinary charm of the ladies and the splendid style of DeLaneau. 專營女士腕錶的帝后錶於1880年在瑞士始創，憑藉其極富創造力和個性化的設計在鐘錶業界脫穎而出，創意盎然且限量生產的珠寶鐘錶 引起了極大迴響，名媛貴族、天王巨星等爭相追捧，創下了帝后錶的輝煌成就。帝后錶從圓頂 ── 一種常見又極具標誌性的建築結構 汲取靈感，打造了獨一無二的本拍品Magic Rubies來歌頌宏偉的建築藝術。工匠在打造這枚腕錶時採用了極為複雜的隱密式寶石鑲嵌 法，它能讓寶石緊密地鑲嵌在一起而不露出任何鑲爪，只有極少數的珠寶工藝大師才能掌握此專業技術，令圓頂上的紅寶石井然有序、 亮麗奪目。只要輕輕旋轉圓頂錶蓋，便能看見採用了18K白金材質的錶殼、鑲滿閃亮鑽石的錶圈和潔白的珍珠貝母錶面。這枚腕錶共使 用了329顆紅寶石以及1034顆鑽石，分別淨重14.05和9.71克拉，完美展現了女士專屬的不凡魅力，一貫延續帝后錶珠光寶氣的風格。

111

DE BEERS

2073 DE BEERS A GOLD-PLATED HOURGLASS, WITH FLOATING DIAMONDS CIRCA 2000 Case : Containing approximately 2000 natural rough diamonds, weighing around 35 carats, suspended in clear fluid, duration approximately ten minutes, signed Diameter 70 mm, height 150 mm Condition Report Grade 1.5 戴比爾斯 精緻，鍍金沙漏時計，備浮動鑽石，年份約2000

HKD 28,000-68,000 USD 3,600-8,700

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VACHERON CONSTANTIN

2074 VACHERON CONSTANTIN A YELLOW GOLD 1904 UNITED STATES TWENTY DOLLAR COIN MECHANICAL WRISTWATCH WITH HIDDEN DIAL CIRCA 1980 Movement : Manual, cal. 1003, 17 jewels, signed Dial : Gilt dial with blued steel baton hands, signed Case : Yellow gold case with snap-on back, dial concealed within a hinged yellow gold 1904 United States twenty dollar coin Diameter 35 mm Condition Report Grade 2.5 江詩丹頓 精緻罕有，黃金二十美元金幣機械腕錶，備隱藏錶盤，年份約1980

HKD 40,000-60,000 USD 5,100-7,600

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DRESS WATCHES

2075 HERMES A FINE STAINLESS STEEL AUTOMATIC WRISTWATCH, WITH DATE, DAY, MONTH AND MOON PHASES INDICATORS Arceau Grande Lune, Ref. AR8.810, CIRCA 2017 Movement : Automatic, cal. 9313, 21 jewels, signed

2076

Dial : Silvered dial with day and month windows at 12, subsidiary dial for date and moon phases at 6, signed

ULYSSE NARDIN

Case : Stainless steel case with sapphire crystal display back, case back secured by 5 screws, signed With : Stainless steel Hermes pin buckle

A FINE LIMITED EDITION, YELLOW GOLD AUTOMATIC WRISTWATCH WITH CLOISONNÉ ENAMEL DIAL DEPICTING CRISTOFORO COLOMBO SANTA MARIA SHIP

Diameter 43 mm

San Marco, Ref. 131-77-9, limited number of 25 pieces, CIRCA 1996

Condition Report Grade 1.5

Movement : Automatic, 21 jewels, signed

愛馬仕

Dial : Cloisonné enamel dial depicting Cristoforo Colombo's sailboat, signed

精美，精鋼自動腕錶，備日期、星期、月份及月相顯示，「Arceau

Case : Yellow gold case, case back secured by 4 screws, signed

Grande Lune」，型號AR8.810，年份約2017

With : Yellow gold Ulysse Nardin pin buckle and original presentation box

HKD 18,000-30,000 USD 2,300-3,800

Diameter 37 mm Condition Report Grade 2 雅典 精美限量版，黃金自動腕錶，備琺瑯錶面，「San Marco」，型號 131-77-9，限量生產25枚，年份約1996，附原廠錶盒

HKD 55,000-85,000 USD 7,000-10,800

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紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

Lot 2078

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PATEK PHILIPPE Peregrine Falcon

2077 PATEK PHILIPPE A VERY RARE AND FINE, ROSE GOLD OPEN-FACED MECHANICAL POCKET WATCH, WITH BLUE MARQUETRY DIAL, SMALL SECONDS AND POWER RESERVE INDICATOR Peregrine Falcon, Ref. 982/147R-001, CIRCA 2016 Movement : Manual, cal. 17" LEP PS IRM, stamped with the PP seal, 20 jewels, signed Dial : Blue marquetry dial with small seconds aperture at 6 and power reserve indicator at 12, signed Case : Rose gold open-faced case with crown at 12, case back depicting a peregrine falcon in wood intarsia, signed With : Patek Philippe Certificate of Origin and presentation box Diameter 45 mm Condition Report Grade 1 百達翡麗 精美罕有，玫瑰金開面機械懷錶，備遊隼圖案藍色細木鑲嵌錶盤、小秒 針及動力儲存顯示，「Peregrine Falcon」，型號982/147R，年份約 2016，附原廠證書及錶盒

HKD 1,500,000-3,500,000 USD 191,100-445,900

Patek Philippe has always been a professional craftsman of creating delicate timepieces. This unprecedented open-faced pocket watch combines three traditional techniques: watchmaking, engraving and marquetry. Marquetry has its origins in ancient Greece, where wooden objects were inlaid with different materials. The practice fell out of favor at the time of the Roman Empire and then became prevalent again in Italy during the Middle Ages. It blossomed in the 17th and 18th centuries, later became a decorative art on watchmaking utilized by Patek Philippe. The artisan will initially stack sheets of veneer into blocks, then cut with a fretsaw or a marquetry-cutter’s chevalet. The assembled pieces are stuck down with hot glue and pressed. To achieve additional shading and a sense of depth, several veneers may be superimposed. Finally, the composition is carefully sanded.

This model 982/147R, created by Patek Philippe, is an exquisite pocket watch that has become increasingly rare in recent years. The pocket watch is equipped with a 1-17 LEP PS IRM manual-winding movement. The dial is made of maple wood dyed in blue, and the back is decorated with a peregrine falcon motif treated with marquetry. The sturdy peregrine falcon standing on the branch presents a sense of power, and the motif is taken from 250 pieces of wood chips of 20 kinds of wood. The 18K rose gold case is surrounded by a hand-carved ornate pattern. The round crown is smooth and meticulous. Together with the slender leaf-shaped hands, the retro and elegant Breguet hour indexes, and the beautiful relief decoration, this pocket watch shows the pure design and exquisite craftsmanship that Patek Philippe strives to perfect. 百達翡麗一直是裝飾時計的專業手工技藝大師，這款史無前例的開面懷錶融合了三大傳統手工技藝: 製錶工藝、手工雕刻和細木鑲嵌。細木鑲嵌的技術 源於古希臘，最初是在木器上以不同的材料進行嵌飾。該工藝於羅馬帝國時期一度銷聲匿跡，至中世紀才在義大利再度流行，到了17和18世紀則邁入 鼎盛時期，後來成為了百達翡麗創作時計所發揮的裝飾藝術。工匠首先把飾片堆疊成層，然後用線鋸或鋸木架進行裁切，再利用熱敏膠水粘合並壓製 成形，然後再精心打磨，營造額外的陰影效果和深度則更考驗工匠的實力和耐性。 本拍品型號982/147R是百達翡麗近年愈趨罕見的精緻懷錶，這枚懷錶配備了1-17 LEP PS IRM手動上弦機芯，其錶盤由染成藍色的楓木所打造，背 面飾有經細木鑲嵌處理的游隼圖案，站在枝椏上的游隼羽翼豐滿，靈動有神，其圖案取自20種木材中的250塊木片而製成。18K玫瑰金錶殼的周圍環 繞著人手雕刻的華麗紋路，凸圓形的錶冠圓滑細緻，纖幼的葉形時針、復古工整的寶璣時標以及精緻綺麗的浮雕裝飾令這枚懷錶更錦上添花，盡顯百 達翡麗力求完善的純正設計跟精湛技藝。

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Founded in 1755, Vacheron Constantin has always been recognised as the oldest watch brand in the world. With 260 years of legacy, the brand has always strictly adhered to manufacturing at its country of origin, and combined watch manufacturing expertise and quality craftsmanship, the brand's exquisite craftsmanship of which has been passed from generation to generation.

The Métiers d'Art collection has borne witness to the brand’s astonishing creativity and meticulous craftsmanship. From the movement to the dial, the collection has adopted a variety of traditional craftsmanship, interpreted the time from the artistic angle which fully reflects the artistic value of the brand.

The art has witnessed the change of time and constantly tried to redefine exploring the human lineage and retain the remote civilisation’s traditional culture and mythology. From 2007 to 2009, Vacheron Constantin cooperated with the Barbier-Muller museum to launch a total of three series of four watches, with each series in limited edition of 25 sets. The mask watches series celebrate primitive art, in the form of masks with an aim to discover the unknown civilisation, and retain the myths and traditions of remote tribes.

This lot features an African Gabon mask as the dial. This mask comes from the famous collection of the poet Tristan Tzara. It was first exhibited by Charles Ratton in Paris in 1931. It was later exhibited in New York’s famous Museum of Modern art in 1935, and is known as one of the inspirations of Modern Art. The engraver carefully uses the techniques of wood carving and painting, and vividly presents the essence of the details on the ancient mask. The watch also includes a poem by renowned French writer Michel Butor, the poem of which is written in gold letters on the dial seen only from a specific angle. This lot successfully captures the emotions and messages of a remote civilisation, and perfectly combines it with the watchmaking craftsmanship. It is definitely a precious and valuable collection. 創立於1755年，江詩丹頓一直被公認為歷史最悠久的鐘錶品牌之一下。260年間，一直堅持在原產地瑞士製造，在鐘錶專業技術及眾多製錶工藝上，緊守嚴苛的標 準，使品牌的精湛工藝世代相傳。 Métiers d'Art藝術大師系列，使江詩丹頓的工藝大師透過作品傳遞情感，從機芯至錶盤運用了多種精妙絕倫的傳統工藝，又從藝術性的角度闡釋時間，完美體現出腕 錶的藝術價值。江詩丹頓用藝術見證著時代的變遷，也不斷嘗試重新定義人類的本質，2007年至 2009年期間，品牌與BARBIER-MUELLER博物館合作，推出了共 三個系列，每系列集四款Les Masques藝術大師面具腕錶，每套限量發行25套。旨在發掘鮮為人知的文明，保留偏遠民族的神話與傳統。 此枚拍品以非洲加蓬面具為錶盤，這種面具來自詩人Tristan Tzara的著名收藏，由Charles Ratton於1931年在巴黎展出，後於1935年在紐約著名的現代藝術博物館 展出，被譽為“現代藝術”的啟示之一。雕刻大師細緻地雕、鑿、刻、鐫，透過木雕彩繪的技巧，傳神地呈現出古老面具上的細節精髓。知名法國作家Michel Butor 為腕錶所作的華美小詩，以金色字母書寫於錶盤之上，只能從特定的角度才能看到，如同一個精心保存的秘密。此拍品成功地捕捉到遼遠文明的情感與訊息，精妙地 傳達了遠古時代的種種奧祕。

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VACHERON CONSTANTIN MÉTIERS D’ART- “LES MASQUES”

2078 VACHERON CONSTANTIN AN INTERESTING AND RARE, LIMITED EDITION WHITE GOLD, HANDENGRAVED MINIATURE MASK AUTOMATIC WRISTWATCH, WITH DAY AND DATE INDICATORS MÉTIERS D’ART- “LES MASQUES”, Ref. 86070/000G-9347, limited number of 25 pieces, CIRCA 2017 Movement : Automatic, cal. 2460, 27 jewels, signed Dial : Four subsidiary dials displaying hour, minute, day and date, a micro sculpture manually engraved to reproduce a ritual mask from Africa, signed Case : White gold case with sapphire crystal display back, case back secured by 6 screws, signed With : Vacheron Constantin Certificate of Origin and presentation box Diameter 38 mm Condition Report Grade 1.5 江詩丹頓 奇趣特別，限量版白金，手工雕刻微縮面具自動腕錶，備日期及星期顯示， 「藝術大師面具系列」，限量生產25枚，年份約2017，附原廠證書及錶盒

HKD 500,000-700,000 USD 63,700-89,200

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PATEK PHILIPPE Ref. 5131J

2079 PATEK PHILIPPE A VERY FINE, YELLOW GOLD WORLD TIME AUTOMATIC WRISTWATCH, WITH CLOISONNÉ ENAMEL DIAL Complications World Time, Ref. 5131J-001, CIRCA 2012 Movement : Automatic, cal. 240 HU, stamped with the PP seal, 33 jewels, signed Dial : Cloisonné enamel dial depicting the world map of Americas, Africa and Europe, revolving chapter ring with day/night world time display, signed Case : Yellow gold case with sapphire crystal display back and world time pusher at 10, signed With : Yellow gold Patek Philippe folding clasp , Certificate of Origin and presentation box Diameter 38 mm Condition Report Grade 1.5 百達翡麗 非常精緻，黃金世界時間自動腕錶，備掐絲琺瑯錶盤，「Complications World Time」，型號 5131J-001，年份約2012，附原廠證書及錶盒

HKD 660,000-900,000 USD 84,100-114,600

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PATEK PHILIPPE Ref. 5131G-010

2080 PATEK PHILIPPE A VERY FINE WHITE GOLD WORLD TIME AUTOMATIC BRACELET WATCH WITH CLOISONNÉ ENAMEL DIAL, IN SINGLE SEAL CONDITION Complications World Time, Ref. 5131G-010, CIRCA 2013 Movement : Automatic, cal. 240 HU, stamped with the PP seal, 33 jewels, signed Dial : Cloisonné enamel dial depicting the world map of Eurasia, Africa and Oceania, revolving chapter ring with day/night world time display, signed Case : White gold case with sapphire crystal display back and world time pusher at 10, signed With : Patek Philippe white gold bracelet, Certificate of Origin and presentation box Diameter 39 mm Condition Report Grade 1 百達翡麗 全新精緻，白金世界時間自動鏈帶腕錶，備掐絲琺瑯錶盤，「Complications」， 型號 5131G-010，年份約2013，附原廠證書及錶盒，單封狀態

HKD 900,000-1,900,000 USD 114,600-242,000

The popular reference 5131 is an iconic Patek Philippe world-time complication on the market and one of the most appealing timepieces to Patek Philippe collectors. The present watch contains a world-time function in white gold case and the depiction of Eurasia, Africa and Oceania on the cloisonné enamel dial. Every dial is a unique piece of artwork, as the whole cloisonné enameling has to be handmade. First, the enamel artisan outlines the shapes with very fine gold wires in order to separate the different field of enamel colors, and then the dial is fired in a kiln at around 850℃ to 900℃.

The whole process repeats several times to intensify the colors and alter the translucency of the enamels. This wristwatch 5131G-010 is a masterpiece with extraordinary craftsmanship. More significantly, this lot is equipped with a relatively rare 18K white gold bracelet. In addition to the original single factory seal, this wristwatch is a precious product in the watch market. 型號5131一直是百達翡麗世界時間腕錶中最受歡迎的款式之一，更是鐘錶愛好者 長期以來的追棒對象。錶盤的中央配以繪畫精緻的歐亞大陸、非洲和大洋洲的掐 絲琺瑯地圖。珍貴之處是，每一塊的掐絲琺瑯地圖都是工匠花費心思所創造出獨 一無二的工藝品。首先，工匠需要利用精細的金絲刻劃出圖案形狀，用作分格不 同的琺瑯顏色粉末，再把整個掐絲琺瑯錶盤放入850至900度高溫的大明火內燒 製。這過程需要重複數次，才能製作出如此精美的掐絲琺瑯錶盤。期間燒製的過程 複雜，更有製作失敗的機會，所以更凸顯了每塊掐絲琺瑯地圖的收藏價值。本拍 品5131RG-010以18K白金外殻襯托著色澤明亮鮮艷的掐絲琺瑯地圖，更特別的 是，本拍品配以相當少見的18K白金鏈帶，加上單封狀態，為鐘錶市場上買少見少 的佳品。

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Cloisonné enamel craftsmanship has been presented across ancient civilizations

掐絲琺瑯製作的歷史源遠流長，在中國、埃及、美

such as China, Egypt and Mesopotamia. Enameling was fashionable in the Byzantine

索不達米亞等文明古國中均有琺瑯的足跡，後至中

era and came to widespread application during the Middle Ages and Renaissance

世紀拜占庭以及文興復興時期琺瑯成為了裝飾貴重

period. It became an indispensable part in decorating precious jewelries and religious

珠寶和宗教聖物等不可或缺的一部分。隨著科技發

holy objects. With the development of advanced technology, most Swiss watchmaking

展，大部分的瑞士鐘錶品牌轉型為工業化量化生

brands have transformed into mass-market production, and the production of

產，製作繁瑣的傳統工藝鐘錶則漸漸衰微。

complicated traditional handcrafts on watchmaking has gradually declined. 為了承傳這項文化結晶，百達翡麗於2000年推

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In order to sustain this long-standing culture, Patek Philippe launched the first

出了珍稀工藝系列的首個作品5075G，題材包括

collection of the rare handcrafts series 5075G in 2000. The themes include flowers,

了花卉、鳥類、各年生肖和龍紋玉佩，每組的數

birds, Chinese zodiac signs and jade with dragon motif, and the number of timepieces

量相當稀少。本拍品一組四件，全球限量15組，

for each theme is significantly limited. This lot consists of four pieces, limited to 15

錶殼為18K白金材質，精細的掐絲琺瑯錶盤上繪

sets in the world. The case is made of 18K white gold. The cloisonné enamel dial is

製了栩栩如生的各式雀鳥，包括十二弦天堂鳥、

painted with a variety of life-like birds, including Twelved Wired Bird of Paradise, Red

紅羽天堂鳥、戴勝鳥以及小天堂鳥。錶面圖案以

Bird of Paradise, Hoopoe and Lesser Bird of Paradise. The patterns are drawn with an

約 0.1 毫米超薄的金絲鈎畫出邊緣，再用多種

ultrathin gold wire of about 0.1mm, and then it is fired repeatedly with different enamel

不同的琺瑯顏色粉末，反覆以不同的高溫燒製而

color powders at different temperatures. The colour of the cloisonné enamel is bright

成。掐絲琺瑯的色彩鮮豔飽滿，圖案獨特吸引，

and full while the pattern of the dials is unique and attractive, and they have a certain

具有一定的視覺效果，加上附有日內瓦印記的

level of visual effect. With the 240/119 self-winding movement with the Geneva seal,

240/119自動上弦機芯，這一組5075G的收藏價

the collection value of this group of 5075G is unquestionable.

值是不容置疑的。

PATEK PHILIPPE Calatrava

2081 PATEK PHILIPPE A LIMITED EDITION AND SPECIAL, SET OF FOUR WHITE GOLD AUTOMATIC WRISTWATCHES, WITH CLOISONNÉ ENAMEL DIAL Calatrava, Ref. 5075G, limited number of 15 sets, CIRCA 2001 Movement : Automatic, cal. 240/119, stamped with the Geneva seal, 27 jewels, signed Dial : Cloisonné enamel dials depicting four different species of birds, including Twelve-wired Bird-of-paradise, Red Bird of Paradise, Hoopoe and Lesser Bird of Paradise, signed Case : White gold case with sapphire crystal display back, signed With : White gold Patek Philippe folding clasp, Certificate of Origin and presentation box Diameter 34 mm Condition Report Grade 1 百達翡麗 一組四件，限量版白金自動腕錶，備雀鳥圖案掐絲琺瑯錶盤，「Calatrava」，型 號5075G，限量生產15組，年份約2001，附原廠證書及錶盒

HKD 2,400,000-3,400,000 USD 305,700-433,100

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PATEK PHILIPPE Lace

For more than 100 years, Patek Philippe has followed the fine watchmaking traditions from Geneva. The brand has a strong commitment to keeping artisanal handcrafts and decorative arts alive as well as integrating various types of professional watchmaking knowledge and technology. Founded in 1764, Baccarat, a French crystal manufacturer, strives to be perfect in transforming matter into a piece of art. With enthusiasm and rich experience, Baccarat’s crystals shine out with great brilliancy and have been known for their impeccable uniformity. In order to show the endless inspirations, these two famous brands in the world have become partners and created a series of rare crystal dome clocks.

This crystal dome clock “Lace” Ref. 1597 is a rare treasure limited to only one piece in the world. It displays the fascinating charm and unique brightness of Baccarat crystals. From cutting to smelting, the process of creating a dome clock is very complicated. The clock’s semi-cylindrical body is crafted by free-blowing a midnight blue-colored shell into which a gather of clear crystal is blown. These two layers are then worked together as a single parison to attain a uniform thickness of the two crystal cases over the entire surface.

Generally, in the process of making crystals, so as to create different colors of the crystals, certain oxidized metals must be added. To make this mysterious midnight blue shell, cobalt is added during heating. The difficulty of production is thus even higher, making this dome clock more precious. The lace pattern of the shell is all carved by hand. The craftsman applied a special sandblasting technique, which allows the pattern to be more layered and refined.

The flawlessly planar dial plate is created from a clear crystal slab fused with a colored case. After the dial and the signature of Patek Philippe were carved, the surface was polished with agate. The base is made from a ring of clear crystal with hand-cut ornamental gadrooning on the entire outside surface. The exterior is polished while the interior of the ring is frosted to preserve the natural glow of Baccarat crystal. “Lace” is the top masterpiece created by Patek Philippe and Baccarat, marking a long history of excellent and complex craftsmanship. This crystal dome clock is undoubtedly incredible and marvelous, highlighting the combination of light and time. 百多年以來，百達翡麗沿襲了日內瓦優良的製錶傳統，對弘揚製錶工藝和裝飾藝術一直秉持著堅定承諾，致力融合各類型 的專業製錶知識及技術。始於1764年，法國水晶製造商 ── 巴卡拉的工匠力臻完美，憑藉熱情和經驗將水晶素材打造成 每件令人夢寐以求的作品，其水晶以非凡的澄澈光芒和無懈可撃的均匀性而久負盛名。為了展現源源不絕的豐富靈感，聞 名於世的兩大品牌成為了合作夥伴，精心研發了一系列的珍稀水晶桌上圓頂座鐘。 此水晶圓頂座鐘「Lace」型號1597，為全球限量僅一件的罕見珍品，晶瑩剔透的座鐘散發著迷人光彩，展示了巴卡拉水 晶獨有的璀璨色澤。從切割到燒熔，製作此座鐘的過程繁複緊密，半圓柱形的外殼由技藝純熟的大師吹製而成，再往外殼 的裡面注入透明的晶體，加工後兩層晶體便會達到相同的厚度。一般來說，水晶在製作的過程中，為了製造不同顏色就必 須加入特定的氧化金屬，如這種神秘深邃的深藍色，便要加入鈷來燒製，製作的難度更為提高，顯得此座鐘彌足珍貴。而 座鐘外殼的蕾絲圖案全由人手雕刻，工匠運用了特殊的噴砂技術來提升了表面的光潔度，圖案更為層次分明，座鐘華麗而 脫俗。 完美無瑕的平面錶盤由透明的水晶模板和藍色外殼融合而成，錶面附上了百達翡麗的標記，並使用了瑪瑙進行拋光。底座 亦以透明水晶鑄成，同樣帶有手工切割的裝飾紋樣，並經拋光和磨砂處理，保留了水晶的自然光澤。「Lace」是百達翡 麗與巴卡拉顛覆界限所創作的頂級結晶品，標誌著歷史悠久的卓越複雜工藝，水晶座鐘令人驚艷而熠熠生輝，彰顯了光與 時間的相互結合。

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PATEK PHILIPPE Lace

(The Front of the Clock) (座鐘正面)

(The Back of the Clock) (座鐘背面)

2082 PATEK PHILIPPE A PIECE UNIQUE AND EXTREMELY IMPORTANT, MIDNIGHT BLUE BACCARAT CRYSTAL DOME TABLE CLOCK, WITH HANDCARVED LACE PATTERN Lace, Ref. 1597M-001, CIRCA 2013 Movement : Quartz, signed Dial : Blue dial, signed Case : Midnight blue Baccarat crystal cylindrical case and domed top with handcrafted lace pattern, signed With : Patek Philippe Certificate of Origin and instruction paper Diameter 135 mm, Height 215 mm Condition Report Grade 1 百達翡麗 全球唯一，瑰麗罕有，午夜藍巴卡拉水晶圓拱座鐘，備手雕蕾絲圖案，「Lace」，型號 1597M-001，年份約2013，附原廠證書及說明書

HKD 1,200,000-3,200,000 USD 152,900-407,600 129

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CARTIER La Dona De Cartier

2083 CARTIER A FINE AND ELEGANT, LADY'S ROSE GOLD AND DIAMOND-SET TONNEAU-SHAPED BRACELET WATCH La Dona De Cartier, Ref. WE600501, CIRCA 2006 Movement : Quartz, signed Dial : Silvered dial with Cartier's secret signature at 7, signed Case : Rose gold tonneau-shaped case with diamond-set bezel, case back secured by 4 screws, signed With : Rose gold Cartier bracelet, Certificate of Origin and presentation box Measurement 26 × 28 mm, approximate length 168 mm Condition Report Grade 2 卡地亞 精美優雅，女裝玫瑰金鑲鑽石酒桶形鏈帶腕錶，「La Dona De Cartier」，型號WE600501，年份約2006，附原廠證書及錶盒

HKD 70,000-150,000 USD 8,900-19,100

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VACHERON CONSTANTIN Model 1972 Pavé Diamond-Set

2084 VACHERON CONSTANTIN A SPECIAL AND FINE LADY'S WHITE GOLD AND DIAMOND-SET ASYMMETRIC WRISTWATCH 1972, Ref. 25510/000G-9160, CIRCA 2019 Movement : Quartz, signed Dial : Pavé diamond-set dial, signed Case : White gold curved asymmetric diamond-set case, case back secured by 8 screws, signed With : White gold diamond-set Vacheron Constantin pin buckle , Certificate of Origin and presentation box Measurement 22 × 45 mm Condition Report Grade 1 江詩丹頓 精美別緻，女裝白金鑲鑽石不對稱形腕錶，「1972」，型號 25510/000G-9160，年份約2019，附原廠證書及錶盒

HKD 85,000-150,000 USD 10,800-19,100

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AUDEMARS PIGUET Diamond-set Bracelet Watch

2085 AUDEMARS PIGUET A VERY FINE AND ELEGANT, LADY'S YELLOW GOLD AND DIAMOND-SET MECHANICAL BRACELET WATCH Ref. 79107BA, CIRCA 1986 Movement : Manual, 18 jewels, signed Dial : Pavé diamond-set dial Case : Diamond-set yellow gold case, case back secured by 2 screws, signed With : Yellow gold Audemars Piguet diamond-set bracelet, Extract from the Archives Measurement 18 × 20 mm, approximate length 180 mm Condition Report Grade 1.5 愛彼 精美典雅，女裝黃金鑲鑽石機械鏈帶腕錶，型號79107BA，年份約1986， 附原廠後補證書

HKD 180,000-280,000 USD 22,900-35,700

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CHOPARD Baguette and Round Diamond-Set

2086 CHOPARD A FINE LADY'S WHITE GOLD AND DIAMOND-SET TONNEAU-SHAPED BRACELET WATCH CIRCA 2010 Movement : Quartz, signed Dial : Pavé diamond-set dial, signed Case : White gold baguette and round diamond-set tonneau-shaped case, case back secured by 4 screws, signed With : Baguette diamond-set Chopard bracelet and presentation box Measurement 23 × 28 mm, approximate length 175 mm Condition Report Grade 1.5 蕭邦 精美，女裝白金鑲鑽石酒桶形鏈帶腕錶，年份約2010，附原廠錶盒

HKD 150,000-300,000 USD 19,100-38,200

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AUDEMARS PIGUET Carnegie

2087 AUDEMARS PIGUET A FINE AND RARE LADY'S WHITE GOLD, EMERALD AND DIAMOND-SET TONNEAU-SHAPED MECHANICAL BRACELET WATCH Carnegie, Ref. 79325BC/E/9070BC/01, CIRCA 2015 Movement : Manual, cal. 2046, 18 jewels, signed Dial : Mother-of-pearl dial with emerald and diamond-set hour indexes, signed Case : White gold emerald and diamond-set tonneau-shaped case and lugs, case back secured by 4 screws, signed With : White gold emerald and diamond-set Audemars Piguet bracelet, Certificate of Origin and presentation box Measurement 20 × 28 mm, approximate length 190 mm Condition Report Grade 2 愛彼 罕有精緻，女裝白金鑲鑽石及綠寶石，酒桶形機械鏈帶腕錶， 「Carnegie,」，型號79325BC/E/9070BC/01，年份約2015，附原廠證書 及錶盒

HKD 180,000-280,000 USD 22,900-35,700

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BOUCHERON Ladyhawke Tourbillon

Founded in 1858, Boucheron is a high-end jewellery and watch manufacturer from France.

Whether it is gem setting or timepiece creation, Boucheron has shown remarkable creativity in the history of more than 100 years. In Egyptian mythology, falcons are the symbol of strength and abundance, and their rapid speed has made them kings of the air, while Native Americans believe that falcons are the messengers of God. Their elegant appearances have inspired Boucheron in watchmaking.

Since 2007, Boucheron has collaborated with another top watch brand, Girard Perregaux, to develop a number of beautiful and magnificent timepieces, and in 2010 launched a unique work model JBT00202, Ladyhawke Tourbillon. This wristwatch is equipped with GP9700.0A manualwinding Three Gold Bridges movement made by Girard Perregaux. It has a 72-hour power reserve. The tourbillon carriage can be seen from the aperture on the dial inlaid with 178 pink, yellow and white diamonds. The case is made of 18K white gold and the bezel is set with white diamonds weighing 1.03 carats. Boucheron has embellished the crown with a decorative ruby.

The falcon on the bangle is vividly realistic and three-dimensional. The wings extend from the case to the bangle, covering the wrist lightly. Boucheron uses 678 diamonds weighing 26.67 carats to decorate each delicate wings of the falcon which shine brilliantly. Ladyhawke Tourbillon perfectly interprets the graceful style of Boucheron and the balance between gorgeous jewelry and professional watchmaking knowledge. 寶詩龍是一家創立於1858年的法國高級珠寶及鐘錶製造商，不論是寶石鑲嵌或是時計創作，寶詩龍在過 百年歷史中多番展示了卓越非凡的創意。在埃及神話中，隼是力量和富足的象徵，飛快的速度使牠們成 為了空中之王，而北美土著更相信隼是傳遞著神的信息的使者，優雅的外型成為了寶詩龍的創作靈感。 自2007年起，寶詩龍和另一家頂級鐘錶品牌 ── 芝柏攜手合作，研製各種美輪美奐的瑰麗鐘錶，並於 2010年推出了獨一無二的作品型號JBT00202 ── Ladyhawke Tourbillon。此腕錶搭載了芝柏製造 的GP9700.0A手動上弦三金橋機芯，備有72小時動力儲存，從鑲了178顆粉、黃和白鑽的錶面上的窗 口可見陀飛輪裝置。錶殼為18K白金材質，錶圈鑲嵌了共重1.03克拉的白鑽，錶冠則以紅寶石點綴。 手鐲上的隼形象立體生動，欲要展開的雙翼由錶殼延伸至手鐲，輕巧地包覆了手腕，寶詩龍使用了重達 26.67克拉的678顆鑽石作裝飾，令每片細緻的羽翼都閃爍著燦爛光芒。Ladyhawke Tourbillon完美詮 釋了寶詩龍的高貴風格，以及華美珠寶與專業製錶知識之間的完美平衡。

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BOUCHERON Ladyhawke Tourbillon

2088 BOUCHERON A PIECE UNIQUE AND ELEGANT, LADY'S WHITE GOLD, COLOREDDIAMOND AND RUBY-SET, SEMI-SKELETONISED TOURBILLON MECHANICAL BANGLE WATCH, WITH GIRARD-PERREGAUX THREE GOLD BRIDGES MOVEMENT Ladyhawke Tourbillon, Ref. JBT00202, CIRCA 2011 Movement : Manual, cal. GP9700.0A, 20 jewels, signed Dial : Pavé colored diamond-set semi-skeletonized dial with one-minute tourbillon carriage at 6 Case : White gold oval-shaped case with diamond-set bezel and a colored-diamond and ruby-set falcon adornment, white gold and gem-set bangle, case back secured by 3 screws, signed With : Boucheron Certificate of Origin and presentation box Measurement of the oval case 31 × 36 mm, approximate length 190 mm Condition Report Grade 1.5 寶詩龍 全球唯一，獨特罕有，女裝白金鑲彩色鑽石及紅寶石，半鏤空陀飛輪機械手鐲腕錶，備芝柏三 金橋陀飛輪機芯，「Ladyhawke Tourbillon」，型號JBT00202，年份約2011，附原廠證 書及錶盒

HKD 1,500,000-3,000,000 USD 191,100-382,200 139

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VAN CLEEF & ARPELS Poetic Complications Since its establishment in Paris in 1906, Van Cleef & Arpels remains a luxury brand highly endorsed by upper class of different countries and is one of the most popular jewelry and watch brands of stylish people.

In 2012, Van Cleef & Arpels added a stunning model “Midnight Poetic Wish” to Poetic Complications Collection, at SIHH. The appearance of the timepiece is gorgeous and eye-catching, the watch case is made of 18K white gold while the bezel and lugs are set with baguette-cut diamonds weighing a total of 5.17 carats. On the dial of the watch, the fascinating night view of Paris is finely depicted in miniature painting. The moonlight and twinkling stars make the Eiffel Tower shine on the dial. The clouds carved by mother-of-pearl and the shooting star set with a diamond have elevated the aesthetic value of the watch. This wristwatch is equipped with a manual winding five-minute repeating movement exclusively developed by Agenhor for Van Cleef & Arpels.

Turning the crown to activate the mechanism, the sculpted metal humanfigure on the tower of Notre-Dame Cathedral and the shooting star will move forward. The harmonious tone comes from two coil springs placed at the bottom of the watch, as if the young man is walking lightly under the stars, and looking forward to the reunion with his lover.

Midnight Poetic Wish undoubtedly demonstrates Van Cleef & Arpels as a top watch manufacturer and its skills in gem setting, miniature painting and micro-painted enamel. This wristwatch has staged a lively and attractive landscape painting and become an impeccable piece of art. 梵克雅寶自1906年在巴黎創立至今，就一直受到各國上流社會等認可，是名流雅 士們所鐘愛的著名珠寶腕錶品牌之一。2012年，梵克雅寶於日內瓦高級鐘錶展， 為最浪漫動人的詩意複雜功能系列增添了新成員── Midnight Poetic Wish。 此腕錶外觀華麗注目，錶殼採用了18K白金，錶圈鑲嵌了共重5.17克拉的長方形 切割鑽石。腕錶的錶盤上以細工彩繪琺瑯描繪出巴黎的迷人夜景，鵝黃月色和閃 爍繁星令巴黎鐵塔在細微的錶盤上顯得閃閃生輝，珍珠貝母雕刻出的雲彩和化身 為流星的鑽石更散發出種種寫意。此腕錶配備了由Agenhor為梵克雅寶獨家研製 的手動上弦五分二問機芯，只要旋轉錶冠來啟動報時功能，站在巴黎聖母院上的 金屬雕刻活動人偶和流星便會向前移動，置於錶底的兩圈簧條則發出清脆悅耳的 音色，彷彿年輕男子在星空下踏著輕盈腳步，向流星期盼著與愛人的重臨。 Midnight Poetic Wish無疑展現了梵克雅寶作為頂級鐘錶製造商在功能研製、寶石 鑲嵌和微繪琺瑯上的功力，上演了一幕生動誘人的風景畫，絕對是無可挑剔的藝術 品。

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VAN CLEEF & ARPELS Poetic Complications

2089 VAN CLEEF & ARPELS A VERY FINE AND ELEGANT, WHITE GOLD AND BAGUETTE DIAMONDSET, FIVE-MINUTE REPEATING MECHANICAL WRISTWATCH, WITH MINIATURE PAINTED TRANSLUCENT ENAMEL DIAL Poetic Complications, "Midnight Poetic Wish", Ref. VCARO8T300, CIRCA 2013 Movement : Manual, cal. AGH 6002, 76 jewels, signed Dial : Mother-of-pearl dial with miniature painting and translucent enamel depicting Notre Dame and night time city landscape of Paris, signed Case : White gold case with baguette diamond-set bezel and lugs, mother-ofpearl crowns and sapphire crystal display back, case back secured by 6 screws, signed With : White gold diamond-set Van Cleef & Arpels pin buckle, Certificate of Origin and presentation box Diameter 43 mm Condition Report Grade 1.5 梵克雅寶 優雅寫意，白金鑲梯型鑽石，五分二問機械腕錶，備彩繪琺瑯錶面，「詩意複雜功能系 列」，"Midnight Poetic Wish"，型號VCARO8T300，年份約2013，附原廠證書及 錶盒

HKD 1,200,000-3,000,000 USD 152,900-382,200 143

ROLEX Datejust

2090 ROLEX A SPECIAL AND FINE, WHITE GOLD, DIAMOND AND BLACK SAPPHIRE-SET AUTOMATIC WRISTWATCH, WITH DATE Datejust, Ref. 116199 SANR, CIRCA 2009 Movement : Automatic, cal. 3135, 31 jewels, signed Dial : Black lacquer and diamond-set dial with date aperture at 3, signed Case : White gold case with diamond, black sapphire-set bezel, diamond-set lugs and screw-down case back, signed With : White gold Rolex folding clasp, Certificate of Origin and presentation box Diameter 36 mm Condition Report Grade 1 勞力士 獨特精美，白金鑲鑽石及黑色藍寶石自動腕錶，備日期顯示， 「Datejust」，型號116199 SANR，年份約2009，附原廠證書及錶盒

HKD 270,000-370,000 USD 34,400-47,100

The Rolex Datejust series was first created in 1945, and is also the first watch in the history of timepieces that can automatically change the date.

Although this series was originally designed for men, over time, Datejust gradually evolved into a variety of styles, all based on the simple and elegant shape. Unlike the Datejust watch that is seen more commonly, this lot ref. 116199 SANR is a special style launched in 2007. The white gold case matches the black sapphire set on the bezel, and the irregular strip diamonds on the black dial are akin to stripes on wild zebra. In addition, this watch is not equipped with a general chain strap, but is equipped with a rare diamond-embedded devil fish skin and rubber strap. The strap is connected with the diamond lugs, and the overall shape is luxurious and eye-catching, while retaining the practicality of Datejust features. 勞力士Datejust系列首創於1945年，也是鐘錶歷史中首隻可以自動轉換日期的腕錶，印證了當年勞力士在技術上的突破。雖此系列起初專為男士而設，但隨時間變 遷， Datejust逐漸演變出豐富多彩的款式，並以簡約素雅的造型立足錶壇而不衰。有別於日常所見的Datejust腕錶，本拍品型號116199 SANR屬2007年時所推出的 特別款式，白金錶殼與鑲在錶圈上的黑色藍寶石相映成趣，而黑色錶盤上的不規則條狀鑽石裝飾猶如野性斑馬身上的條紋，奇異巧妙、型格獨特。另外，此腕錶也並 非配置一般的鏈帶，是配備了鮮有的鑲鑽魔鬼魚皮和橡膠錶帶，錶帶與鏤鑽錶耳連接，整體造型奢華奪目，同時保留了Datejust系列的實用功能。

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CORUM Baguette and Round Diamond-Set 2091 CORUM A VERY FINE SPECIAL EDITION, WHITE GOLD AND DIAMONDSET DODECAGONAL AUTOMATIC WRISTWATCH, WITH DATE AND SMALL SECONDS Ref. 395.119.69/0081 GR34, Corum Admiral's Cup special edition, CIRCA 2019 Movement : Automatic, cal. CO 395, 27 jewels, signed Dial : Pavé diamond-set dial with date aperture at 3 and small seconds at 6 signed Case : White gold dodecagonal case with diamond-set bezel and sapphire crystal display back, signed With : White gold diamond-set Corum pin buckle, Certificate of Origin and presentation box Diameter 42 mm Condition Report Grade 1 崑崙 精美特別版，白金鑲鑽石十二邊形自動腕錶，備日期顯示及小秒針，型號 395.119.69/0081GR34，「Admiral's Cup 特別版」，年份約2019，附原 廠證書及錶盒

HKD 350,000-650,000 USD 44,600-82,800

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ROLEX

2092 ROLEX A FINE STAINLESS STEEL AND DIAMOND-SET AUTOMATIC BRACELET WATCH WITH DATE Datejust, Ref. 16234, CIRCA 1990 Movement : Automatic, cal. 3135, 31 jewels, signed Dial : Black dial with diamond-set hour indexes, date aperture at 3, signed Case : Stainless steel case with fluted bezel, screw-down case back, signed With : Rolex stainless steel bracelet

2093 ROLEX A FINE YELLOW GOLD AND DIAMOND-SET AUTOMATIC BRACELET WATCH, WITH DATE

Diameter 36 mm, approximate length 165 mm

Datejust, Ref. 68278, CIRCA 1988

Condition Report Grade 1.5

Movement : Automatic, cal. 2235, 31 jewels, signed

勞力士

Dial : Champagne dial with diamond-set hour indexes, date aperture at 3, signed

精美，精鋼鑲鑽石自動鏈帶腕錶，備日期顯示， 「Datejust」，型號16234，年份約1990

HKD 20,000-40,000 USD 2,500-5,100

Case : Yellow gold case with fluted bezel and screwdown case back, signed With : Rolex yellow gold bracelet Diameter 31 mm, approximate length 165 mm Condition Report Grade 2 勞力士 精美，黃金鑲鑽石自動鏈帶腕錶，備日期顯示， 「Datejust」，型號68278，年份約1988

HKD 35,000-65,000 USD 4,500-8,300

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ROLEX

2094 ROLEX A STAINLESS STEEL AUTOMATIC BRACELET WATCH WITH DATE Submariner, Ref. 16610, CIRCA 2004 Movement : Automatic, cal. 3135, 31 jewels, signed Dial : Black dial with luminescent hands and hour indexes, date aperture at 3, signed Case : Stainless steel case with unidirectional revolving black ceramic bezel, screw-down case back, signed With : Rolex stainless steel bracelet Diameter 40 mm, approximate length 165 mm

2095 ROLEX A FINE STAINLESS STEEL AUTOMATIC BRACELET WATCH, WITH DATE Sew Dweller, Ref. 16660, CIRCA 1985 Movement : Automatic, cal. 3035, 27 jewels, signed Dial : Gloss black with light spiderweb dial, luminescent hands and hour indexes, date aperture at 3, signed

Condition Report Grade 2

Case : Stainless steel case with unidirectional revolving black bezel, screw-down crown and case back, signed

勞力士

With : Stainless steel Rolex bracelet

精鋼自動鏈帶腕錶，備日期顯示，「Submariner」，型號16610，

Diameter 39 mm, approximate length 170 mm

年份約2004

HKD 30,000-58,000 USD 3,800-7,400

Condition Report Grade 2 勞力士 精美，精鋼自動鏈帶腕錶，備日期顯示，「Sea Dweller」，型 號16660，年份約1985

HKD 75,000-120,000 USD 9,600-15,300

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148

ROLEX Cosmograph Daytona

2096 ROLEX A VERY FINE ROSE GOLD CHRONOGRAPH AUTOMATIC BRACELET WATCH WITH SMALL SECONDS AND TACHYMETRE Cosmograph Daytona, Ref. 116505, CIRCA 2017 Movement : Automatic, cal. 4130, 44 jewels, signed Dial : Chocolate dial with luminescent hands and hour indexes, three subsidiary dials for constant seconds, 30-minute and 12-hour registers, signed Case : Rose gold case with bezel calibrated for 400 units per hour, and screw-down case back, signed With : Rolex rose gold bracelet Diameter 36 mm, approximate length 175 mm Condition Report Grade 1.5 勞力士 精美，玫瑰金自動鏈帶計時碼錶，備小秒針及測速計，「Cosmograph Daytona」，型號116505，年份約2017

HKD 170,000-270,000 USD 21,700-34,400

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ROLEX Cosmograph Daytona

2097 ROLEX A RARE AND FINE, STAINLESS STEEL BIG RED CHRONOGRAPH MECHANICAL BRACELET WATCH, WITH SMALL SECONDS AND TACHYMETRE Cosmograph Daytona, "The Big Red", Ref. 6265, case back stamped 6263, CIRCA 1971 Movement : Manual, cal. 727, 17 jewels, signed Dial : Silvered dial with three subsidiary dials for constant seconds, 30-minute and 12-hour registers, signed Case : Stainless steel case with bezel calibrated for 200 units per hour registers, screw-down crown and chronograh pushers, signed With : Stainless steel Rolex oyster bracelet Diameter 37 mm, approximate length 170 mm Condition Report Grade 2 勞力士 罕見精緻，精鋼機械鏈帶計時碼錶，備小秒針及測速計，「Cosmograph Daytona」，"The Big Red"，型號6265，年份約1971

HKD 500,000-800,000 USD 63,700-101,900

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ROLEX Cosmograph Daytona

2098 ROLEX A RARE AND IMPORTANT STAINLESS STEEL BIG RED CHRONOGRAPH MECHANICAL BRACELET WATCH WITH SMALL SECONDS AND TACHYMETRE Cosmograph Daytona, "The Big Red", Ref. 6263, CIRCA 1985 Movement : Manual, cal. 727 , 17 jewels, signed Dial : Black dial with luminescent hands and hour indexes, three subsidiary dials for constant seconds, 30-minute and 12hour registers, signed Case : Stainless steel case with black bezel calibrated for 200 units per hour, screw-down case back, signed With : Rolex stainless steel bracelet Diameter 37 mm, approximate length 185 mm Condition Report Grade 2 勞力士 重要罕有，精鋼機械鏈帶計時碼錶，備小秒針及測速計，「Cosmograph Daytona」，"The Big Red"，型號6263，年份約1985

HKD 550,000-700,000 USD 70,100-89,200

For many years, Rolex Cosmograph Daytona has been characterized by three small subsidiary dials on the dial, and its practical chronograph function has been adored by numerous watch collectors. Between 1963 and 2013, Rolex produced a total of nine models of Daytona. The so-called classic Daytona refers to the four-digit models produced between 1963 and 1988, with only six out of nine models. This lot ref. 6263 is exactly from the very rare classic Daytona series. This generation of Daytona is all manually wound, reflecting the watchmaking features of the 20th century. This watch is also equipped with the accurate and reliable Valjoux 727 movement, and the black dial contrasting with three white subsidiary dials draws more attention from the watch lovers. It is worth mentioning that the early Daytona was equipped with a black acrylic bezel with a tachymeter on it. The word “Daytona” in red is printed on the black dial, leaving a deep impression to users. Therefore, ref. 6263 earns the title of “The Big Red” and became a legendary timepiece created by Rolex. 勞力士Cosmograph Daytona多年以來，以錶面三個小錶圈作為系列的特徵，其實用的計時功能一直深受鐘錶藏家的喜愛。1963至2013年期間， 勞力士一共生產過九款Daytona，而所謂經典Daytona，即指由1963至1988年間生產的四位數型號，只有僅僅六種款式。本拍品型號6263，正來 自數量極為稀少的經典Daytona系列，這代Daytona全以手動上鏈，反映了二十世紀的製錶特色。此腕錶搭載了Valjoux 727機芯，走時精準、穩 固可靠，加上黑白雙色的經典造型，使這款腕錶更令藏家們垂青。值得一提的是，早期的Daytona配備了飾有壓克力的黑色錶圈，錶圈帶有清晰的 測速計刻度，黑色錶面上的更印有紅色Daytona的字樣，一抹緋紅讓人留下深刻印象，故型號6263有了”The Big Red”的稱號，成為了勞力士的 傳奇之作。

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SPORT WATCHES

2099 BREGUET

2100

A FINE TITANIUM CHRONOGRAPH AUTOMATIC BRACELET WATCH WITH SMALL SECONDS

BLANCPAIN

Transatlantique Type XX, Ref. 3820, CIRCA 2012 Movement : Automatic, cal. 582, 25 jewels, signed Dial : Black carbon fiber dial with date aperture at 6, three subsidiary dials for constant seconds, 30-minute and 12-hour registers, signed Case : Titanium case with screw-down crown, case back, signed With : Breguet titanium bracelet, Certificate of Origin and presentation box Diameter 39 mm, approximate length 160 mm Condition Report Grade 2

A FINE STAINLESS STEEL CHRONOGRAPH AUTOMATIC WRISTWATCH, WITH SMALL SECONDS Air Command Concept 2000, Ref. 2285F-6530-66, CIRCA 2016 Movement : Automatic, cal. F185, 37 jewels, signed Dial : Black dial with luminescent hands and hour indexes, three subsidiary dials for constant seconds, 30-minute and 12-hour registers, signed Case : Stainless steel case with unidirectional revolving bezel and screw-down case back, signed With : Blancpain folding buckle

寶璣

Diameter 40 mm

精美，鈦金屬自動鏈帶計時碼錶，備小秒針，

Condition Report Grade 2

「Transatlantique Type XX」，型號3820，年份 約2012，附原廠證書及錶盒

HKD 30,000-60,000 USD 3,800-7,600

2101 PANERAI A FINE LIMITED EDITION STAINLESS STEEL CUSHION-SHAPED AUTOMATIC WRISTWATCH, WITH DATE AND SMALL SECONDS Luminor Marina, Ref. PAM00049, limited number of 500 pieces, CIRCA 2005 Movement : Automatic, cal. OP 6560, 17 jewels, signed Dial : White dial with date aperture at 3 and small seconds aperture at 9, signed Case : Stainless steel cushion-shaped case with patented winding crown with security lever, signed With : Stainless steel Panerai folding clasp Measurement 40 × 40 mm

寶珀

Condition Report Grade 2

精美，精鋼自動計時碼錶，備小秒針，「Air Command Concept 2000」，型號2285F-

沛納海

6530-66，年份約2016

精美，限量版精鋼枕形自動腕錶，備日期顯示及小秒

HKD 26,000-46,000 USD 3,300-5,900

針，「Luminor Marina」，型號PAM00049，限 量生產500枚，年份約2005

HKD 10,000-30,000 USD 1,300-3,800 154

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

PANERAI Radiomir Tourbillon

2102 PANERAI A VERY FINE LIMITED EDITION, ROSE GOLD CUSHION-SHAPED DUAL TIME TOURBILLON MECHANICAL WRISTWATCH, WITH SMALL SECONDS AND 4DAYS POWER RESERVE Radiomir, Ref. PAM00330, limited number of 50 pieces, CIRCA 2010 Movement : Manual, cal. P.2005, 31 jewels, signed Dial : Brown dial with luminescent hands and hour indexes, second time zone at 3 and small seconds at 9, signed Case : Rose gold cushion-shaped case with sapphire crystal display back and one-minute tourbillon carriage, case back secured by 4 screws, signed With : Rose gold Panerai folding clasp, Certificate of Origin and presentation box Measurement 45 × 45 mm Condition Report Grade 1.5 沛納海 非常精美，限量版玫瑰金枕形兩地時間陀飛輪機械腕錶，備小秒針及4天動力儲 存，「Radiomir」，型號PAM00330，限量生產50枚，年份約2010，附原廠 證書及錶盒

HKD 250,000-350,000 USD 31,800-44,600

155

156

RICHARD MILLE FELIPE MASSA

2103 RICHARD MILLE A VERY FINE, WHITE GOLD TONNEAU-SHAPED SKELETONISED FLYBACK CHRONOGRAPH AUTOMATIC WRISTWATCH, WITH LARGE DATE AND SMALL SECONDS FELIPE MASSA, Ref. RM011 AO WG, CIRCA 2015 Movement : Automatic, cal. RM011-FM, 68 jewels, signed Dial : Skeletonised dial with white numerals, three subsidiary dials, oversized date at 12 placed in an outlined horizontal aperture, signed Case : White gold tonneau-shaped case secured by 12 screws, with flyback chronograph buttons to the band and sapphire crystal display back, signed With : White gold Richard Mille folding clasp, Certificate of Origin and presentation box Measurement 42 × 55 mm Condition Report Grade 1.5 里查德米爾 非常精緻，白金酒桶形鏤空自動飛返計時碼錶，備大日曆顯示及小秒針， 「FELIPE MASSA」，型號RM011 AO WG，年份約2015，附原廠證書及錶盒

HKD 850,000-1,000,000 USD 108,300-127,400

Since its establishment in 2001, Richard Mille has created a series of fine watches dedicated to the high-tech world of the racetrack. As the watchmaker’s first sports partner, Felipe Massa has been wearing a Richard Mille watch on his wrist in every F1 Grand Prix since 2004. The model RM011was launched in 2007 and since then has become one of the most iconic and popular models. It is equipped with a skeletonised automatic movement with a practical annual calendar and flyback chronograph. By using the pusher between 4 and 5 o’clock, the running chronograph can be reset without first having to stop the mechanism. This was originally developed for pilots in order to not lose time from stopping, resetting and starting the chronograph whilst traversing a navigational point. 自2001年成立起，里查德米爾便研發了一系列為專業賽車比賽而設計的高級腕錶，而作為品牌首個運動領域的合作夥伴，Felipe Massa從 2004年起，便佩戴著Richard Mille腕錶馳騁在一級方程式賽車的賽場上。型號RM011 FM於2007年推出，隨後便成為了品牌標誌性及廣受 歡迎的款式之一。這枚腕錶搭載了非常實用的大日曆以及具備飛返計時功能的自動機芯，按動位於4、5點鐘位置的按鈕，運行中的計時指針無 需停止便會瞬間返回後再持續開始計時，這項功能最初是為飛行員在戰鬥機上操作計時而設計的，它降低了因多次操作所帶來的能量損耗，從 而更加迅速準確地計時。

157

158

Roger Dubuis Spider Excalibur Skeleton Flying Tourbillon, inspired by the intricate spider

羅傑·杜比Excalibur Spider 鏤空飛行陀飛輪，以

web structure, perfectly unites the brand’s two classic features – the flying tourbillon

錯綜複雜的蜘蛛網結構為靈感，完美融合品牌計的兩

and the skeletonised decoration. Design of the plate and splint adheres to extreme

大經典特色—飛行陀飛輪和鏤空裝飾。機板和夾板具

simplicity, retaining only its true essence. The watch is equipped with the RD505SQ

有極為簡潔時尚的設計，腕錶搭載RD505SQ機芯，

movement. The tourbillon frame’s unique shape is inspired by the Celtic cross, and

陀飛輪框架的獨特造型來源於凱爾特十字（Celtic

the black pointer acts as a second hand. Design of the star-shaped bridge is unique,

cross），黑色指針可充當秒針指示。星形表橋設計

with the stars’ angles pointing to various hour markers, so that the seemingly complex

十分獨特，星角分別指向不同的小時刻度，令看似複

spider structure still maintains a clear order. The titanium case is ultra light, and a digital

雜的蛛網結構，依然擁有清晰的秩序。鈦金屬錶殼十

hour mark has been added to the bezel’s outer edge for easy reading. This auction

分輕盈，錶圈外緣還特別增加了數字時標方便閱讀。

item is designed to showcase the exquisite machinery in operation in a no-less-than-

此拍品於型格時尚的設計中，展現出運行中的精湛機

grand space, which is an iconic creation of Roger Dubuis.

械，堪稱羅傑·杜彼的標誌性創舉。

ROGER DUBUIS Excalibur spider skeleton flying tourbillon

2104 ROGER DUBUIS A VERY FINE LIMITED EDITION TITANIUM SKELETONISED FLYING TOURBILLON MECHANICAL WRISTWATCH Excalibur Spider Skeleton Flying Tourbillon, Ref. DBEX0546, limited edition of 88 pieces, CIRC 2017 Movement : Manual, cal. RD505SQ, stamped with the Geneva seal, 19 jewels, signed Dial :

Skeletonised dial with flying tourbillon at 7, outer blue ring with minute and hour markers, signed

Case : Titanium case with black DLC treatment, sapphire crystal display back, signed With : Titanium Roger Dubuis folding clasp, Certificate of Origin and presentation box Diameter 45 mm Condition Report Grade 1 羅傑·杜比 非常精緻罕有，限量版鈦金屬鏤空陀飛輪機械腕錶，「Excalibur Spider 鏤空飛行陀飛輪」， 型號DBEX0546，限量生產88枚，年份約2017，附原廠證書及錶盒

HKD 560,000-660,000 USD 71,300-84,100 159

OMEGA

2105 OMEGA A STAINLESS STEEL CHRONOGRAPH AUTOMATIC WRISTWATCH WITH DATE AND SMALL SECONDS Seamaster - PLANET OCEAN 600M, Ref. 2918.50.82, CIRCA 2012 Movement : Automatic, cal. 3313, 25 jewels, signed Dial : Black dial with luminescent hands and hour indexes, three subsidiary dials for constant seconds, 30-minute and 12hour registers, date aperture between 4 and 5, signed Case : Stainless steel case with unidirectional revolving orange bezel and screw-down case back, signed

2106 OMEGA A LIMITED EDITION STAINLESS STEEL CHRONOGRAPH MECHANICAL BRACELETWATCH, WITH SMALL SECONDS AND TACHYMETRE

With : Stainless steel Omega folding clasp

Speedmaster Apollo XI 35TH Anniversary, Ref. 3569.31.00, limited number of 3500 pieces, CIRCA 2004

Diameter 45 mm

Movement : Manual, cal. 1861, 18 jewels, signed

Condition Report Grade 2 歐米茄

Dial : Silvered dial with luminescent hands and hour indexes, three subsidiary dials for constant seconds, 30-minute and 12-hour registers, signed

精鋼自動計時碼錶，備日期顯示及小秒針，「Seamaster」，型號

Case : Stainless steel case with bezel calibrated for 500 units per hour, screw-down case back, signed

2918.50.82，年份約2012

With : Omega stainless steel bracelet

HKD 20,000-40,000 USD 2,500-5,100

Diameter 40 mm, approximate length 170 mm Condition Report Grade 2 歐米茄 限量版精鋼機械鏈帶計時碼錶，備小秒針及測速計，「Speedmaster Apollo XI 35TH Anniversary」，型號3569.31.00，限量生產3500 枚，年份約2004

HKD 30,000-60,000 USD 3,800-7,600

160

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

DEWITT Academia Endless Drive

2107 DEWITT A SPECIAL AND RARE, LIMITED EDITION ROSE GOLD AUTOMATIC WRISTWATCH, WITH POWER RESERVE INDICATOR Academia Endless Drive, Ref. AC.ED.001, limited edition of 60 pieces, CIRCA 2019 Movement : Automatic, cal. DW1653, 30 jewels, signed Dial : Black dial with two subsidiary dials for 60-minute and 12-hour registers, signed Case : Rose gold case with sapphire crystal display back, case back secured by 6 screws, signed With : Rose gold DeWitt folding clasp, Certificate of Origin and presentation box Diameter 42.5 mm Condition Report Grade 1 迪威特 精緻獨特，限量版玫瑰金自動腕錶，備動力儲存顯示，「Academia Endless Drive」，型號AC.ED.001，限量生產60枚，年份約2019，附原廠證書及錶盒

HKD 100,000-180,000 USD 12,700-22,900

161

DRESS WATCHES

2108 BREGUET A FINE WHITE GOLD AUTOMATIC WRISTWATCH, WITH ENAMEL DIAL AND SMALL SECONDS Classique, Ref. 5140BB/29/9W6, CIRCA 2004 Movement : Automatic, cal. 502.3 SD, 35 jewels, signed Dial : White enamel dial with small seconds between 5 and 6, signed

2109 VACHERON CONSTANTIN A FINE WHITE GOLD MECHANICAL WRISTWATCH WITH SMALL SECONDS Traditionnelle, Ref. 82172/000G-9383, CIRCA 2019

Case : White gold case, signed

Movement : Manual, cal. 4400 AS, 21 jewels, stamped with Geneva seal, signed

With : White gold Breguet pin buckle, Certificate of Origin and presentation box

Dial : Silvered dial with small seconds at 6, signed

Diameter 40 mm

Case : White gold case with sapphire crystal display back, signed

A FINE ROSE GOLD MECHANICAL WRISTWATCH

With : Vacheron Constantin Certificate of Origin and presentation box

Patrimony, Ref. 81180/000R-9159, CIRCA 2011

Diameter 38 mm

Movement : Manual, cal. 1400, 20 jewels, stamped with Geneva seal, signed

Condition Report Grade 2 寶璣 精美，白金自動腕錶，備琺瑯錶盤及小秒針， 「Classique」，型號5140BB/29/9W6，年份約 2004，附原廠證書及錶盒

HKD 60,000-100,000 USD 7,600-12,700

Condition Report Grade 1 江詩丹頓 精美，白金機械腕錶，備小秒針， 「Traditionnelle」，型號 82172/000G-9383， 年份約2019，附原廠證書及錶盒

HKD 62,000-85,000 USD 7,900-10,800

2110 VACHERON CONSTANTIN

Dial : Silvered dial, signed Case : Rose gold case, signed With : Vacheron Constantin Certificate of Origin Diameter 40 mm Condition Report Grade 1.5 江詩丹頓 精美，玫瑰金機械腕錶，「Patrimony」，型號 81180/000R-9159，年份約2011，附原廠證書

HKD 62,000-85,000 USD 7,900-10,800

162

BLANCPAIN Villeret Carrousel Phases De Lune

2111 BLANCPAIN A VERY FINE LIMITED EDITION, PLATINUM ONE-MINUTE CARROUSEL AUTOMATIC WRISTWATCH, WITH DATE AND MOON PHASES INDICATORS Villeret Carrousel Phases De Lune, Ref. 6622L-3431-55B, limited number of 88 pieces, CIRCA 2018 Movement : Automatic, cal. 225L, 40 jewels, signed Dial :

White dial with one-minute carrousel carriage at 12 and moon phases at 6, signed

Case :

Platinum case with sapphire crystal display back, signed

With :

Platinum Blancpain folding clasp, Certificate of Origin and presentation box

Diameter 42 mm Condition Report Grade 1 寶珀 非常精美，限量版鉑金一分鐘卡羅素自動腕錶，備日期及 月相顯示，「Villeret Carrousel Phases De Lune」， 型號6622L-3431-55B，限量生產88枚，年份約 2018，附原廠證書及錶盒

HKD 650,000-1,000,000 USD 82,800-127,400

Carrousel has a rare and fascinating complex function designed to counteract the slight interference caused by gravity on the accuracy of timepieces, has similar function as a tourbillon. In 2008, after Carrousel has been forgotten for more than a century, Blancpain pioneered the world's first oneminute flying carrousel, once again propelling this major complex functionality to the forefront of watchmaking. This Villeret Carrousel Moon Phase watch is equipped with Blancpain's new self-made caliber 225L, uniting the three functions of carrousel, moon phase and date display for the first time. Additionally, the white grand feu enamel dial, unique hollowed sage leaf-type hour and minute hands, and blue steel serpentine-hand indicator, have adhered to the Villeret series of signature elegance. The 12 o’clock opening perfectly reveals the beauty of the carrousel’s operation, which echoes the moon-phase indication set directly opposite at 6 o’clock. The timepiece unites carrousel and the great moon phases, showcasing the perfect combination of the iconic elements of two major brands, which is a testimony of Blancpain’s exemplary position in the field of fine watchmaking. 卡羅素是一項罕有而迷人的複雜功能，其設計目的與陀飛輪相同，是為了抵消地心引力對腕錶精準度所造成的影響。2008年，在卡羅素被遺忘超過一個 世紀後，寶珀開創了全球首枚一分鐘飛行卡羅素，再次將這項複雜功能推至製錶前沿。此枚Villeret卡羅素月相表搭載了寶珀全新自製機芯225L，首次將 卡羅素、月相和日期顯示三大功能融合一體。此外，白色大明火琺瑯錶盤，獨特的鏤空柳葉形時、分針以及藍鋼蛇形指標，秉承了Villeret系列一貫的典雅 氣質，12點位置的視窗，完美呈現卡羅素運轉的美態，與6點鐘位置的月相遙相呼應。腕錶將卡羅素和大月相顯示兩大品牌標誌性傳奇元素完美結合，印 證了寶柏在高級製錶領域的典範地位。

163

DANIEL ROTH Regulateur Tourbillon

2112 DANIEL ROTH A SPECIAL AND FINE, ROSE GOLD TONNEAU-SHAPED DOUBLEDIALED, TOURBILLON MECHANICAL WRISTWATCH, WITH DATE AND 8 DAY POWER RESERVE Regulateur Tourbillon, Ref. 197.X.40, CIRCA 2004 Movement : Manual, cal. DR 720, 25 jewels, signed Dial : Silvered engine-turned dial with aperture for one-minute tourbillon carriage at 6, signed Case : Rose gold tonneau-shaped case hinged back to reveal the double dial, signed With : Daniel Roth rose gold buckle Measurement 40 × 40 mm Condition Report Grade 2 丹尼爾.羅斯 獨特精美，玫瑰金酒桶形雙錶面，陀飛輪機械腕錶，備日期顯示及8天動力儲存， 「Regulateur Tourbillon」，型號197.X.40，年份約2004

HKD 160,000-260,000 USD 20,400-33,100

164

KERBEDANZ Maximus

As one of the top creative watch brands, Kerbedanz is world renowned for the world's

2113

largest tourbillon frame, its size being more than twice the largest tourbillon known, and

KERBEDANZ

is a revolutionary breakthrough. The name of this lot is Maximus, and its magnificent

AN EXTRAORDINARY AND VERY FINE, LIMITED EDITION TITANIUM MECHANICAL WRISTWATCH, WITH FLYING TOURBILLON IN SIX MINUTE CYCLES

name is derived from the Latin Circus Maximus, meaning "Maximus Arena", to pay tribute to the magnificent architecture from ancient times. Maximus is made of titanium and has a diameter of 49 mm. The huge tourbillon device in the center captures everyone's gaze like a black hole in the universe, and completes an elegant rotation every six minutes. The huge tourbillon is driven by the KRB-08 movement. The whole movement is composed of 415 parts, with a 54-hour power reserve, with a specially designed balance wheel and balance spring by Kerbedanz, combining cutting edge technology with innovation. Maximus has been nominated for the best tourbillon watch of the Geneva Advanced Watch Awards (GPHG) in 2017, and has been unanimously praised by watch collectors. Unfortunately, only 99 Maximus pieces are available worldwide, and it is extremely valuable due to its impressive handiwork. 作為頂尖的創意鐘錶品牌之一，凱彼丹斯（Kerbedanz）以全球首創、世界最大的陀飛輪 框架而聞名於世，其尺寸比已知的最大陀飛輪還要大兩倍，革命性般突破了腕錶的界限。本 拍品名稱為Maximus，其大氣恢宏的名字源於拉丁文和意大利文的Circus Maximus，意指

Maximus, Ref. KRBTM49-054TL, limited number of 99 pieces, CIRCA 2019 Movement : Manual, cal. KRB-08, 34 jewels, signed Dial : Skeletonised dial with central oversized flying tourbillon carriage in six minute cycles, signed Case : Titanium domed case with sapphire crystal display back, case back secured by 6 screws, signed With : Titanium Kerbedanz folding clasp, Certificate of Origin and presentation box Diameter 49 mm Condition Report Grade 1

「馬克西穆斯競技場」，向來自遠古時代的宏偉建築致敬。Maximus採用鈦金屬製成，直徑

凱彼丹斯

達49毫米，位於中央的碩大陀飛輪裝置猶如宇宙黑洞般俘虜眾人的目光，並每六分鐘優雅地

獨特罕有，非凡精緻，限量版鈦金屬機械腕錶，備六分鐘飛行

完成一圈的旋轉。推動巨大的陀飛輪運轉為KRB-08機芯，整枚機芯由415個部件組成，備有

陀飛輪，「Maximus」，型號KRBTM49-054TL，限量生

54小時動力儲存，以及凱彼丹斯專門研製的平衡擺輪和遊絲，融合了品牌最為精密的科技、

產99枚，年份約2019，附原廠證書及錶盒

卓越創新的精神。Maximus曾榮獲了2017年日內瓦高級鐘錶大賞（GPHG）的最佳陀飛輪 腕錶提名，得到了鐘錶藏家們的一致讚賞，惜Maximus全球限量僅99枚，為溢美於外、蘊奧 於內極致工藝品，極具珍藏價值。

HKD 450,000-650,000 USD 57,300-82,800

165

AUDEMARS PIGUET Quantieme Perpetual Calendar

2114 AUDEMARS PIGUET A VERY FINE, PLATINUM AND DIAMOND-SET SKELETONISED, PERPETUAL CALENDAR AUTOMATIC WRISTWATCH, WIH DATE, DAY, MONTH AND MOON PHASES INDICATORS Quantieme Perpetual Calendar, Ref. 25670PT.ZZ.0022CR.01, CIRCA 1993 Movement : Automatic, cal. 2120/2, 38 jewels, signed Dial : Skeletonised dial with four subsidiary dials for date, day, month and moon phases indicators, signed Case : Platinum case with diamond-set bezel and sapphire crystal display back, signed With : Platinum Audemars Piguet pin buckle and Extract from the Archives Diameter 36 mm Condition Report Grade 2 愛彼 非常精美，鉑金鑲鑽石鏤空，萬年曆自動腕錶，備日期、星期、月份及月相顯示， 「Quantieme Perpetual Calendar」，型號25670PT.ZZ.0022CR.01，年份 約1993，附原廠後補證書

HKD 170,000-270,000 USD 21,700-34,400

166

BREGUET Classique Complications

The tourbillon is one of the functions developed by Breguet, and has made a profound

2115

impact on the watch industry. A small tourbillon surrounds the entire escapement system

BREGUET

and slowly rotates, counteracting gravity and making timekeeping more accurate. The

A VERY FINE, PLATINUM SKELETONISED TOURBILLON MECHANICAL WRISTWATCH

overall shape is also more beautiful and refined. This watch is the Tourbillon Messidor model 5335PT, with the Messidor in its name representing ‘harvest month’ in French, and also celebrates the month when Master Breguet obtained the patent as the creator of the tourbillon on June 26, 1801. The most unique thing is that the handcarved hollow dial is set against a crystal clear tourbillon. Unlike the traditional movement bridge, Breguet fixes the tourbillon device in two crystals, so that it seems like it is suspended in the sky The feeling is very mysterious, and the mechanical details are also in full view. This model is made of platinum and equipped with a 558 SQZ manual winding movement. It has a power reserve of 50 hours. The Classique Complications series is time-honored and contains various ingenious ideas of Master Breguet.

Classique Complications, "Tourbillon Messidor", Ref. 5335PT/4 2/9W6, CIRCA 2019 Movement : Manual, cal. 558 SQ2, 25 jewels, signed Dial : Skeletonised dial with one-minute tourbillon carriage at 6, signed Case : Platinum case with sapphire crystal display back, case back secured by 6 screws, signed With : Platinum Breguet folding clasp, Certificate of Origin and presentation box Diameter 40 mm

陀飛輪作為寶璣所研發的功能之一，其發明讓鐘錶界有了劃時代的轉變，一枚小巧的陀飛輪包圍

Condition Report Grade 1.5

著整個擒縱系統緩緩轉動，抵消了地心引力，從而令腕錶走時更為準確，整體的造型也更為美觀 精緻。這腕錶Tourbillon Messidor型號5335PT，其名字中的Messidor在法文中代表了收穫月

寶璣

的意思，也是慶祝寶璣大師在1801年6月26日作為陀飛輪的創始者取得了專利的月份，為別具

非常精美，鉑金鏤空陀飛輪機械腕錶，「Classique

匠心的腕錶款式。其中最獨特的地方在於全手工雕刻的鏤空錶盤襯托了澄淨的水晶陀飛輪，有別

Complications」，"Tourbillon Messidor"，型號

於傳統的機芯橋板，寶璣將陀飛輪裝置固定於兩片水晶之中，使之有凌空懸浮的感覺，極具神秘

5335PT/42/9W6，年份約2019，附原廠證書及錶盒

感，機械細節也盡收眼底之中。此款式為鉑金材質，配備了558 SQZ手動上弦機芯，動力儲存

HKD 580,000-880,000 USD 73,900-112,100

達50小時，Classique Complications系列歷久彌新，蘊含了寶璣大師的各種巧思創意。

167

168

BVLGARI Octo Finissimo

2116 BVLGARI AN ULTRA THIN LIMITED EDITION, TITANIUM OCTAGONAL MINUTE REPEATING MECHANICAL WRISTWATCH WITH SMALL SECONDS Octo Finissimo, Ref. 102559 BGO40BTLMRXT, limited edition of 50 pieces, CIRCA 2017 Movement : Manual, cal. BVL 362, 36 jewels, signed Dial : Titanium dial, small seconds at 6, signed Case : Titanium octagonal case with sapphire crystal display back, case back secured by 8 screws, signed With : Titanium Bvlgari pin buckle, Certificate of Origin and presentation box Measurement 40 × 40 mm Condition Report Grade 1.5 寶格麗 時尚獨特，超薄限量版，鈦金屬八角形三問機械腕錶，備小秒針，「Octo Finissimo」，型號 102559 BGO40BTLMRXT，限量生產50枚，年份約 2017，附原廠證書及錶盒

HKD 500,000-700,000 USD 63,700-89,200

Inspired by the ancient Roman architecture of 310 BC, the Bvlgari Octo watch series unites an eye-catching octagonal case with mechanical structure to pay tribute to Italian culture with boundless creativity. Bvlgari constantly challenges the slimness of the caliber.

This Octo Finissimo minute repeater watch is equipped with a BVL 362 finissimos manual winding mechanical movement with the thickness of only 3.12mm and a titanium case with thickness of only 6.85mm, making it one of the slimmest minute repeater watches. From this ultra slim and small space, the sound of the minute repeater is still crisp and bright, the titanium case material ensures the best sound resonance is produced, and the detailed hollow time-scale design on the dial also gives the sound more room for resonance and increased volume.

With boundless creativity and ingenuity, the timepiece is not only full of timeless beauty, it also ensures the ultimate precision, both internally and externally. 寶格麗Octo腕錶系列，以西元前310年古羅馬時期的建築為靈感，將令人注 目的八角形錶殼與機械結構互相融合，向創意無限的義大利文化致敬。寶格 麗不斷挑戰纖薄機芯的極限，這枚Octo Finissimo 三問腕錶搭載了BVL 362 finissimos手動上鏈機械機芯，其厚度僅達3.12mm，鈦金屬錶殼厚度也僅 為6.85mm，是全世界最為纖薄的三問腕錶之一。 如此超薄狹小的空間，內裡發出的三問報時聲仍然清脆明亮，鈦金屬的錶殼 材質保證了最佳的聲音共鳴，錶盤上細緻的鏤空時標設計，也給予聲音更多 共鳴的空間，進而再一步一提升音量。無窮的創意與巧思，令腕錶不僅充滿 了雋永的美感，更確保了極致的精準度，內外兼修。

169

BREGUET Classique Complications

Founded in 1775, the history of Breguet spans over a few centuries in watchmaking manufacture. It is a famous watch brand that invented many patented technologies such as tourbillon. The Classique Complications series presents the brand’s artwork of the highest standard. Model Ref. 5347BR/11/9ZU is equipped with a manual-wound 588 movement. The apertures on the silver-plated dial present the double tourbillon carriages that slowly rotate once every minute. The case is made of 18K rose gold. Fitted with sapphire crystal case back, one can see the fascinating and complicated movement with hand-engraved planet motifs. The wristwatch is also equipped with a dark brown alligator strap which presents the classic style of Breguet. Its elegant design and complex structure have made Breguet remain the pioneer of the watchmaking industry and this timepiece is definitely one of the Breguet’s most outstanding watches. 創立於1775年，寶璣不但擁有數百年的製錶歷史，更是發明了陀飛 輪等多項專利技術的頂級鐘錶品牌。而Classique Complications系 列更代表著至高無上的藝術，本拍品型號5347BR/11/9ZU搭載了手 動上弦的588機芯，鍍銀錶盤上的手工鐫刻中央夾板備有兩個窗口， 呈現了隨時間緩緩轉動的雙陀飛輪，展示了寶璣不同凡響的精湛工 藝。錶殼為18K玫瑰金材質，錶面上的藍寶石水晶玻璃備有高硬度及 耐熱特性，而通透的底蓋中清晰可見雕有大小各異的行星圖案的機 芯，配以深棕色鱷魚皮錶帶，為腕錶添上了獨特的經典情懷。優雅的 設計跟複雜結構成為了寶璣作為時計先驅的標誌，其精巧程度無法比 擬，絕對是寶璣在鐘錶創作上的傳承之作。

170

171

BREGUET Double Tourbillon

2117 BREGUET A VERY FINE ROSE GOLD DOUBLE TOURBILLON MECHANICAL WRISTWATCH Classique Complications, Ref. 5347BR/11/9ZU, CIRCA 2019 Movement : Manual, cal. 588, 81 jewels, signed Dial : Silvered dial with double one-minute tourbillon carriages, signed Case : Rose gold case with sapphire crystal display back, signed With : Rose gold Breguet folding clasp, Certificate of Origin and presentation box Diameter 44 mm Condition Report Grade 1 寶璣 非常精美，玫瑰金雙陀飛輪機械腕錶，「Classique Complications」，型號5347BR/11/9ZU，年份約2019，附原廠證書 及錶盒

HKD 1,200,000-3,000,000 USD 152,900-382,200

173

PATEK PHILIPPE Complications

2118 PATEK PHILIPPE A VERY FINE WHITE GOLD ANNUAL CALENDAR AUTOMATIC WRISTWATCH, WITH DATE, DAY, MONTH, 24- HOUR AND MOON-PHASE INDICATORS Complications, Ref. 5205G-001, CIRCA 2017 Movement : Automatic, cal. 324 S QA LU 24H, stamped with the PP seal, 34 jewels, signed Dial : Two-tone grey dial with three windows for day, date and month, subsidiary dial for 24-hour indication and moon-phases, signed Case : White gold case with sapphire crystal display back, signed With : White gold Patek Philippe folding clasp, Certificate of Origin and presentation box Diameter 40 mm Condition Report Grade 1.5 百達翡麗 非常精美，白金年曆自動腕錶，備日期、星期、月份、24小時 及月相顯示，「Complications」，型號5205G-001，年份約 2017，附原廠證書及錶盒

HKD 170,000-280,000 USD 21,700-35,700

174

PATEK PHILIPPE Nautilus

Patek Philippe is widely recognized as the top brand among all major watch manufacturers, and the Nautilus collection, launched in 1976, is one of the most iconic sport models mixed with an elegant style. Inspired by the portholes on the cruise ships and released in 2010, this lot model Annual Calendar wristwatch 5726A features a rounded octagonal shape’s bezel, and the black dial with terraced horizontally embossed patterns presents the finest symbols of the Patek Philippe. Nautilus 5726A features a 316L stainless steel case and a self-winding mechanical movement caliber 324 S QA LU 24 H/303, with a diameter of 40.5 mm to display the date, weekday, month, and the moon phases with the Patek Philippe seal. With its multiple functions, complex features, durability and vividity, it helps the user grasp the concept of time with ease, this model is surely an outstanding piece of Patek Philippe. 百達翡麗是世界公認的頂級鐘錶商，而Nautilus系列於1976年面世，揉合了飄逸典雅的格調，是最具標誌性的運動型款式之一。本拍品型號5726A年曆腕錶於2010 年亮相，此款式擁有圓潤的八角形錶圈，其靈感來自航行於汪洋的郵輪舷窗，錶圈兩側模仿了舷窗上的鉸鏈，連接著錶圈與錶殼。精巧獨特的錶殼設計和飾有梯田式 橫間凹凸坑紋的漸層黑色錶盤盡顯了百達翡麗的時尚品味。型號5726A採用了316L精鋼拉絲錶殼， 以及全自動324 S QA LU 24 H/303機芯，錶面直徑達40.5毫米， 備月份、星期、日期和月相顯示，又具備百達翡麗的優質印記。其功能繁多複雜，能輕易掌握時間觀念，持久耐用，盡顯活力，是百達翡麗的上乘之作。

2119 PATEK PHILIPPE A FINE STAINLESS STEEL ROUDNED OCTAGONAL ANNUAL CALENDAR AUTOMATIC WRISTWATCH, WITH DATE, DAY , MONTH, 24-HOUR AND MOON PHASES INDICATORS Nautilus, Ref. 5726A, CIRCA 2010 Movement : Automatic, cal. 324 S QA LU 24 H/303, stamped with the PP seal, 34 jewels, signed Dial : Black horizontally embossed dial with three windows for day, date and month, subsidiary dial for 24-hour indication and moon-phases, signed Case : Stainless steel rounded octagonal case with sapphire crystal display back and screw-down crown, signed With : Stainless steel Patek Philippe folding clasp, Patek Philippe Extract from the Archives Diameter 40.5 mm Condition Report Grade 1.5 百達翡麗 精緻，精鋼圓八角形年曆自動腕錶，備日期、星期、月份、24小時 及月相顯示，「Nautilus」，型號5726A，年份約2010，附原廠 後補證書

HKD 310,000-650,000 USD 39,500-82,800 175

176

PATEK PHILIPPE Nautilus

2120 PATEK PHILIPPE A VERY FINE AND ATTRACTIVE TWO TONE ROSE GOLD AND STAINLESS STEEL OCTAGONAL CHRONOGRAPH AUTOMATIC BRACELET WATCH WITH DATE AND SMALL SECONDS Nautilus, Ref. 5980/1AR, CIRCA 2019 Movement : Automatic, cal. CH 28‑520 C, stamped with the PP seal, 35 jewels, signed Dial : Blue dial with date aperture at 3 and small seconds at 6, signed Case : Rose gold and stainless steel octagonal case, sapphire crystal display back, signed With : Patek Philippe Rose gold and stainless steel bracelet, Certificate of Origin and presentation box Measurement 40.5 × 40.5 mm, approximate length 195 mm Condition Report Grade 1 百達翡麗 精緻吸引，雙色玫瑰金及精鋼圓八角形自動鏈帶計時碼錶，備日期顯示及小秒 針，「 Nautilus」，型號5980/1AR，年份約 2019，附原廠證書及錶盒

HKD 620,000-1,000,000 USD 79,000-127,400

Patek Philippe's Nautilus series has been widely praised since its inception. The watch combines casual with noble styles, becoming a classic and elegant masculine sports style in the brand. This lot model 5980 / 1AR was launched in 2013. It was Patek Philippe's first two-color mix of rose gold and stainless steel, bringing a new sense of vitality into the Nautilus series and a touch of softness. The blue gradient dial is fresh and refined, and the horizontal stripes on the dial are like turbulent waves flowing on the wrist, which are elegant and striking. In addition, the watch is equipped with CH 28-520 C movement, equipped with a very practical chronograph function. For clarity, Patek Philippe uses a large central chronograph second hand, but what is special is that the two concentric circular dials at 6 o'clock, 60 minutes and 12 hours are combined, the design is simple but the reading is still clear and accurate. Two-tone materials and complex functions complement each other, turning a new age in the design of sports watches. 百達翡麗的鸚鵡螺系列自面世以來一直廣受好評，腕錶集休閒氣息與高貴格調於一身，成為了品牌中優雅而不失陽剛的經典運動款式。本拍品 型號5980/1AR於2013年推出，為百達翡麗首度以玫瑰金和不鏽鋼作雙色混搭的作品，為鸚鵡螺系列注入了全新的活力，令剛強的質感帶有一 絲柔和。湛藍的漸變錶盤清新而脫俗，錶盤上的橫紋猶是滔滔海浪在手腕上流動，典雅出眾、引人注目。此外，腕錶搭載了CH 28-520 C機 芯，備有相當實用的計時功能。為求清晰，百達翡麗採用了中央計時大秒針，然而特別之處在於6時方向的兩個同心圓小錶盤，60分鐘與12小 時計時相互結合，設計簡潔但讀時依然清晰準確。雙色材質與複雜功能相互映襯，為運動腕錶寫下了新的定義。

177

Session 3 Noble Handbags & Hype Collectibles Lot 2121 - 2195

第三節 尚品手袋及潮玩專場

Lot 2195

2121 SORAYAMA X DANIEL ARSHAM 2G 400% & 100% (TWO WORKS), 2019 & SORAYAMA X DISNEY FUTURE MICKEY 400% & 100% (TWO WORKS), 2019 & 2G 400% & 100% (TWO WORKS) BE@RBRICK 27.3 x 12.7 x 8.9 cm (10-3/4 x 5 x 3-1/2 inches); 7 x 3.2 x 1.9 cm (2-3/4 x 1-1/4 x 3/4 inches) Painted plastic Each stamped to the underside of the feet Accompainied with their original boxes Condition Report Grade 1-1.5 BE@RBRICK 2019年作 BE@RBRICK 400%及100% 空山基＆丹尼爾聯名限定 2G（兩件一組）& 400% 及100% 空山基＆迪士尼聯名限定 未來米奇（兩件一組）& 400%及100% 2G（兩件一組） 材質：塑膠 款識：腳底部 尺寸：27.3 x 12.7 x 8.9 cm (10-3/4 x 5 x 3-1/2 inches); 7 x 3.2 x 1.9 cm (2-3/4 x 1-1/4 x 3/4 inches)，附原包裝盒，品相報告1-1.5級。

HKD 12,000-30,000 USD 1,500-3,800

2121

180

2122 GONE (SET OF THREE), 2019 KAWS 36.1 x 38.1 x 15.2 cm (14.2 x 15 x 6 inches) (each) Painted cast vinyl Each stamped to the underside Each sealed in their original packaging Condition Report Grade 1 KAWS 2019年作 Gone（三件一组） 材質：彩繪搪膠 款識：腳底部 尺寸：36.1 x 38.1 x 15.2 cm (14.2 x 15 x 6 inches) (每件)，全附原包裝，品相報告1級。

HKD 15,000-30,000 USD 1,900-3,800

2122

181

2123

2123 HOLIDAY TAIPEI CERAMIC PLATES (SET OF FOUR), 2019 & NGV CERAMIC PLATES, 2019 (SET OF FOUR) & QATAR MUSEUMS CERAMIC PALTES, 2019 (SET OF FOUR) KAWS 15.2 cm (6 inches) diameter; 23 cm (9.2inches) diameter Each stamped to the reverse Each comes with the original box Condition Report Grade 1 KAWS 2019年作 Holiday台北版瓷盤（四件一組）& NGV墨爾本限定 瓷盤 （四件一組）& 卡塔爾博物館限定瓷盤 （四件一組） 款識：盤底 尺寸：15.2 cm (6 inches) 直徑; 23 cm (9.2inches) 直徑，全附原包 裝，品相報告1級。

HKD 5,000-10,000 USD 600-1,300 182

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

2124

2124 HOLIDAY BATH TOY, 2019 & HOLIDAY FLOATING BED, 2019 & NGV "NO ONE'S HOME" 1000 PIECE JIGSAW PUZZLE, 2019 & NGV "STAY STEADY" 1000 PIECE JIGSAW PUZZLE, 2019 KAWS 170.2 x 165.1 cm (67 x 65 inches) (Floating Bed); 21.6 x 19.1 x 5.1 cm (8.5 x 7.5 x 2 inches) (Bath Toy); 75 x 54 cm; 70 x 79 cm (Puzzle) Painted cast resin Each sealed in their original packaging Condition Report Grade 1 KAWS 2019年作 Holiday浴室玩具 & Holiday浮床 & NGV "NO ONE'S HOME" 1000塊拼圖 & NGV "STAY STEADY" 1000塊拼圖 材質：樹脂 尺寸：170.2 x 165.1 cm (67 x 65 inches) (浮床); 21.6 x 19.1 x 5.1 cm (8.5 x 7.5 x 2 inches) (沐浴玩具); 75 x 54 cm; 70 x 79 cm(拼圖)，全附原包裝未開封，品相報告1級。

HKD 5,000-15,000 USD 600-1,900 紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

183

2125

2125 HOLIDAY HONG KONG PLUSH (SET OF THREE), 2019 & SEEING/WATCHING PLUSH, 2018 KAWS 47 x 25.4 x 11.4 cm (18-1/2 x 10 x 4-1/2 inches)(each); 40.6 cm (16 inches) Polyester plush Each comes with original tags and packaging Condition Report Grade 1 KAWS 2019年作 Holiday 香港限量毛絨公仔（三件一組）& 2018 年作 看見限量毛絨公仔 材質：毛絨 尺寸：47 x 25.4 x 11.4 cm (18-1/2 x 10 x 4-1/2 inches)(每件); 40.6 cm (16 inches)，附原包裝，品相報告1級。

HKD 5,000-10,000 USD 600-1,300

184

2126

2126 COMPANION (RED, RED DISSECTED) (SET OF TWO), 2016 & SMALL LIE (BLACK, GREY, BROWN) (SET OF THREE), 2017 KAWS 27.9 x 11.4 cm (11 x 4-1/2 inches) (each); 27.3 x 12.7 x 12.7 cm (10-3/4 x 5 x 5 inches) (each) Painted cast vinyl Each stamped to the underside of the feet Each sealed in their original packaging Condition Report Grade 1 KAWS 2016年作 Companion (紅色，紅色解剖版)（兩件一組）& 2017年作 Small Lie（三件一組） 材質：彩繪搪膠 款識：腳底部 尺寸：27.9 x 11.4 cm (11 x 4-1/2 inches) (每件); 27.3 x 12.7 x 12.7 cm (103/4 x 5 x 5 inches) (每件)，全附原包裝未開封，品相報告1級。

HKD 5,000-15,000 USD 600-1,900 185

2127

2127 A LIMITED EDITION JEWELRY BOX BY TAKASHI MURAKAMI TAKASHI MURAKAMI X LOUIS VUITTON L.19 x H.17 x D.8 cm Condition Report Grade 1.5 TAKASHI MURAKAMI X LOUIS VUITTON 聯名 限量版村上隆超扁平珠寶盒 尺寸：L.19 x H.17 x D.8 cm，品相報告1.5級。

HKD 50,000-100,000 USD 6,400-12,800 186

2128

2128 A MONOGRAM CAMOUFLAGE CANVAS AND LEATHER PEGASE 60 BY TAKASHI MURAKAMI TAKASHI MURAKAMI X LOUIS VUITTON L.37 x H.56 x D.19 cm Condition Report Grade 1.5 TAKASHI MURAKAMI X LOUIS VUITTON 聯名 迷彩帆布及牛皮60公分MONOGRAMOUFLAGE PEGASE旅行箱 尺寸：L.37 x H.56 x D.19 cm，品相報告1.5級。

HKD 35,000-70,000 USD 4,500-9,000 187

2129 A SET OF SIX SILK SCARVES HERMÈS 2019 L.90 x H.90 Condition Report Grade 1 愛馬仕 2019 絲質絲巾一組六條 尺寸：L.90 x H.90，品相報告1級。

HKD 5,000-10,000 USD 600-1,300

2129

2130 A SET OF FIVE SILK TIES HERMÈS 2019 5 PIECES IN TOTAL Condition Report Grade 1 愛馬仕 2019 絲質領帶一組五條 共五件，品相報告1級。

HKD 5,000-10,000 USD 600-1,300

2130

188

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

2131 A SET OF FIVE TWILLY SCARVES HERMÈS 2019 Condition Report Grade 1 愛馬仕 2019 絲質TWILLY絲巾一組五條 共五件，品相報告1級。

HKD 5,000-10,000 USD 600-1,300 2131

2132 A SET OF FIVE BELTS WITH BUCKLES HERMÈS 2009-2014 L. 115cm / L. 109cm/ L. 104cm Condition Report Grade 1 愛馬仕 2009-2014 皮帶一組五條附皮帶扣 尺寸：L. 115cm / L. 109cm/ L. 104cm， 品相報告1級。

HKD 10,000-20,000 USD 1,300-2,600 2132

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

189

2133 A WHITE, BLACK & JAUNE POUSSIN EVERGRAIN LEATHER TOOLBOX 20 WITH PALLADIUM HARDWARE HERMÈS 2016 L.20 x H.21 x D.15 cm Condition Report Grade 2.5 愛馬仕 2016 白色、黑色及小雞黃色EVERGRAIN牛皮20公分 TOOLBOX包附銀色金屬配件 尺寸：L.20 x H.21 x D.15 cm，品相報告2.5級。

HKD 20,000-40,000 USD 2,600-5,100 2133

2134 A WHITE SWIFT LEATHER CONSTANCE ELAN WITH WHITE ENAMEL AND PALLADIUM HARDWARE HERMÈS 2010 L.25 x H.14 x D.3 cm Condition Report Grade 2 愛馬仕 2010 白色SWIFT牛皮CONSTANCE ELAN包附白色琺瑯及銀 色金屬配件 尺寸：L.25 x H.14 x D.3 cm，品相報告2級。

HKD 35,000-55,000 USD 4,500-7,100 2134

190

2135

2135 A BLUE NUIT TOGO LEATHER & MOYEN TODOO FEUTRE HAC BIRKIN 40 WITH PALLDIUM HARDWARE HERMÈS 2017 L.40 x H.36 x D.22 cm Condition Report Grade 1 愛馬仕 2017 午夜藍色TOGO牛皮及MOYEN TODOO FEUTRE羊毛 40公分 HAC 柏金包附銀色金屬配件 尺寸：L.40 x H.36 x D.22 cm，品相報告1級。

HKD 70,000-120,000 USD 9,000-15,400

191

2136 A SHINY BLUE BALTIQUE ALLIGATOR BEARN COMPACT WALLET WITH GOLD HARDWARE & AN ETAIN EPSOM LEATHER CLIC 16 WALLET WITH PERMABRASS HARDWARE HERMÈS 2019 BEARN COMPACT WALLET : L.12 x H.9 x D.3 cm, CLIC 16 WALLET : L.16.5 x H.14 x D.3 cm Condition Report Grade 1 愛馬仕 2019 亮面波羅的海藍色短吻鱷魚皮BEARN COMPACT 皮夾附金色金屬配件 & 錫器灰色EPSOM牛皮16公 分CLIC皮夾附精銅配件 尺寸：BEARN COMPACT皮夾 : L.12 x H.9 x D.3 cm, CLIC 16 皮夾 : L.16.5 x H.14 x D.3 cm，品相報告1級。

HKD 15,000-35,000 USD 1,900-4,500

2136

CITES compliance applies to this lot, please refer to our Terms & Conditions. 此拍品受濒危野生動物物種國際貿易公約（CITES）之進出口條 款約束，詳情請見目錄說明。

2137 A BLACK EPSOM LEATHER KELLY DEPECHES 25 POUCH WITH GOLD HARDWARE HERMÈS 2019 L.25 x H.18.5 x D.4.5 cm Condition Report Grade 1 愛馬仕 2019 黑色EPSOM牛皮25公分KELLY DEPECHES手 拿包附金色金屬配件 尺寸：L.25 x H.18.5 x D.4.5 cm，品相報告1級。

HKD 30,000-50,000 USD 3,800-6,400 2137

192

2138

2138 A BLACK BOX LEATHER SELLIER KELLY 28 WITH GOLD HARDWARE HERMÈS 1994 L.28 x H.21 x D.11 cm Condition Report Grade 2 愛馬仕 1994 黑色BOX牛皮28公分外縫凱莉包附金色金屬配件 尺寸：L.28 x H.21 x D.11 cm，品相報告2級。

HKD 40,000-60,000 USD 5,100-7,700

193

2139

2139 A SHINY BLACK ALLIGATOR CONSTANCE WALLET WITH ROSE GOLD HARDWARE HERMÈS 2019 L.21 x H.12 x D.4 cm Condition Report Grade 1 愛馬仕 2019 亮面黑色短吻鱷魚皮CONSTANCE皮夾附玫瑰金色金屬配件 尺寸：L.21 x H.12 x D.4 cm，品相報告1級。

HKD 50,000-90,000 USD 6,400-11,500 CITES compliance applies to this lot, please refer to our Terms & Conditions. 此拍品受濒危野生動物物種國際貿易公約（CITES）之進出口條款約束， 詳情請見目錄說明。

194

2140

2140 A BLACK TOGO LEATHER BIRKIN 30 WITH GOLD HARDWARE HERMÈS 2017 L.30 x H.20 x D.15 cm Condition Report Grade 1 愛馬仕 2017 黑色TOGO牛皮30公分柏金包附金色金屬配件 尺寸：L.30 x H.20 x D.15 cm，品相報告1級。

HKD 70,000-120,000 USD 9,000-15,400

195

2141 A BENGALE SWIFT LEATHER BIRKIN 25 WITH PALLADIUM HARDWARE HERMÈS 2010 L.25 x H.18 x D.10 cm Condition Report Grade 2 愛馬仕 2010 孟加拉綠色SWIFT牛皮25公分柏金包附銀色金屬配件 尺寸：L.25 x H.18 x D.10 cm，品相報告2級。

HKD 30,000-60,000 USD 3,800-7,700 2141

2142 A BLUE ELECTRIC TOGO LEATHER RETOURNE KELLY 32 WITH GOLD HARDWARE HERMÈS 2013 L.32 x H.23 x D.10 cm Condition Report Grade 2 愛馬仕 2013 電光藍色TOGO牛皮32公分內縫凱莉包附金色金屬配件 尺寸：L.32 x H.23 x D.10 cm，品相報告2級。

HKD 40,000-70,000 USD 5,100-9,000 2142

196

2143

2143 A VERT VERONE EPSOM LEATHER SELLIER KELLY 25 WITH GOLD HARDWARE HERMÈS 2019 L.25 x H.18 x D.10 cm Condition Report Grade 1 愛馬仕 2019 維羅納綠色EPSOM牛皮25公分外縫凱莉包附金色金屬 配件 尺寸：L.25 x H.18 x D.10 cm，品相報告1級。

HKD 70,000-120,000 USD 9,000-15,400

197

2144 A SET OF FIVE SILK SCARVES HERMÈS 2019 L.90 x H.90 cm Condition Report Grade 1 愛馬仕 2019 絲質絲巾一組五條 尺寸：L.90 x H.90 cm，品相報告1級。

HKD 5,000-10,000 USD 600-1,300

2144

2145 A ROSE CONFETTI EPSOM LEATHER BEARN WALLET WITH PALLADIUM HARDWARE & A BLACK EPSOM LEATHER BEARN WALLET WITH PALLADIUM HARDWARE & A LIME CHEVRE LEATHER KELLY WALLET WITH PALLADIUM HARDWARE HERMÈS 2014/2014/2016 Bearn Wallet: L.17.5 x H.9 x D.2 cm/ Kelly Wallet: L.20 x H.11 x D.2 cm Condition Report Grade 1 愛馬仕 2014/2014/2016 彩帶粉色EPSOM牛皮BEARN皮夾附銀色金屬配件 & 黑色EPSOM牛皮BEARN皮夾附銀色金屬配件 & 檸檬黃CHEVRE羊皮凱莉皮夾附銀色金屬配件 尺寸：Bearn 皮夾: L.17.5 x H.9 x D.2 cm/ Kelly 皮夾: L.20 x H.11 x D.2 cm，品相報告1級。

HKD 10,000-20,000 USD 1,300-2,600 2145

198

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

2146

2146 A ROSE SAKURA SWIFT LEATHER CONSTANCE 19 WITH PALLADIUM HARDWARE HERMÈS 2019 L.19 x H.15 x D.4 cm Condition Report Grade 1 愛馬仕 2019 櫻花粉色SWIFT小牛皮19公分CONSTANCE包附銀色金屬配件 尺寸：L.19 x H.15 x D.4 cm，品相報告1級。

HKD 80,000-120,000 USD 10,300-15,400

199

200

2147

2147 A MATTE 5P PINK ALLIGATOR CONSTANCE WALLET WITH PALLADIUM HARDWARE HERMÈS 2019 L.21 x H.11 x D.4 cm Condition Report Grade 1 愛馬仕 2019 霧面5P粉紅色短吻鱷魚皮CONSTANCE皮夾附銀色金屬配件 尺寸：L.21 x H.11 x D.4 cm，品相報告1級。

HKD 40,000-120,000 USD 5,100-15,400 CITES compliance applies to this lot, please refer to our Terms & Conditions. 此拍品受濒危野生動物物種國際貿易公約（CITES）之進出口條款約束，詳 情請見目錄說明。

201

2148 A SET OF 18K GOLD BOUTONS D'OREILLE KELLY CHAINE NECKLACE & EARRINGS HERMÈS 2019 L. 45.6cm (Necklace); L. 6 cm (Earrings) Condition Report Grade 1-1.5 愛馬仕 2019 BOUTONS D'OREILLE' 系列18K金項鍊及耳環 尺寸：L. 45.6cm (項鍊); L. 6 cm (耳環)，品相報告 1-1.5級。

HKD 15,000-35,000 USD 1,900-4,500

2149 A SET OF THREE ENAMEL CLIC H BRACELETS & A SET OF TWO POP H EARRINGS & A POP H PENDANT NECKLACE HERMÈS 2019 8 Pieces in Total Condition Report Grade 1 愛馬仕 2019 CLIC H 琺瑯手鐲（一组三件）、POP H 耳環 （一组兩件）及POP H 吊墜項鍊 共八件，品相報告1級。

HKD 5,000-15,000 USD 600-1,900

2148

202

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

2149

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

203

2150 A PARCHEMIN BOX LEATHER SELLIER KELLY 28 WITH GOLD HARDWARE HERMÈS 1999 L.28 x H.21 x D.11 cm Condition Report Grade 3 愛馬仕 1999 羊毛白色BOX牛皮外縫28公分外縫凱莉包附金色金屬配件 尺寸：L.28 x H.21 x D.11 cm，品相報告3級。

HKD 30,000-50,000 USD 3,800-6,400 2150

2151 A LIMITED EDITION ARGILE SWIFT LEATHER & GRAINE D'H GHILLIES KELLY 32 WITH PALLADIUM HARDWARE HERMÈS 2013 L.32 x H.23 x D.10 cm Condition Report Grade 2 愛馬仕 2013 限量版杏色SWIFT小牛皮及GRAINE D'H牛皮32公分 GHILLIES凱莉包附銀色金屬配件 尺寸：L.32 x H.23 x D.10 cm，品相報告2級。

HKD 60,000-80,000 USD 7,700-10,300 2151

204

2152

2152 A GOLD EPSOM LEATHER BIRKIN 25 WITH PALLADIUM HARDWARE HERMÈS 2008 L.25 x H.19 x D.13 cm Condition Report Grade 1.5 愛馬仕 2008 金色EPSOM牛皮25公分柏金包附銀色金屬配件 尺寸：L.25 x H.19 x D.13 cm，品相報告1.5級。

HKD 40,000-80,000 USD 5,100-10,300

205

206

2153

2153 A RARE GOLD SWIFT LEATHER SHADOW BIRKIN 35 WITH PALLADIUM HARDWARE HERMÈS 2019 L.35 x H.28 x D.20 cm Condition Report Grade 1 愛馬仕 2019 罕見金色SWIFT牛皮35公分SHADOW柏金包附銀色金屬配件 尺寸：L.35 x H.28 x D.20 cm，品相報告1級。

HKD 90,000-180,000 USD 11,500-23,100

207

208

2154

2154 A LIMITED EDITION GOLD & WHITE TOGO LEATHER RETOURNÉ KELLY AU GALOP 28 WITH PALLADIUM HARDWARE HERMÈS 2019 L.28 x H.21 x D.11 cm Condition Report Grade 1 愛馬仕 2019 限量版金色及白色TOGO牛皮28公分內縫AU GALOP凱莉包附銀色金屬配件 尺寸：L.28 x H.21 x D.11 cm，品相報告1級。

HKD 80,000-130,000 USD 10,300-16,700

209

210

2155

2155 A RARE OMBRE LIZARD KELLY POCHETTE WITH PALLADIUM HARDWARE HERMÈS 2019 L.22 x H.13 x D.7 cm Condition Report Grade 1 愛馬仕 2019 罕見OMBRE原色蜥蜴皮 KELLY POCHETTE手拿 包附銀色金屬配件 尺寸：L.22 x H.13 x D.7 cm，品相報告1級。

HKD 180,000-380,000 USD 23,100-48,700 CITES compliance applies to this lot, please refer to our Terms & Conditions. 此拍品受濒危野生動物物種國際貿易公約（CITES）之進出口條款約 束，詳情請見目錄說明。

211

2156 A GRIS TOURTERELLE TOGO LEATHER 24/24 BAG WITH PALLADIUM HARDWARE HERMÈS 2019 L.29 x H.18 x D.15 cm Condition Report Grade 1 愛馬仕 2019 斑鳩灰色TOGO牛皮29公分24/24包附銀色金屬配件 尺寸：L.29 x H.18 x D.15 cm，品相報告1級。

HKD 55,000-70,000 USD 7,100-9,000 2156

2157 AN ETAIN TOGO LEATHER BIRKIN 30 WITH PALLADIUM HARDWARE HERMÈS 2013 L.30 x H.20 x D.15 cm Condition Report Grade 1.5 愛馬仕 2013 錫器灰色TOGO牛皮30公分柏金包附銀色金屬配件 尺寸：L.30 x H.20 x D.15 cm，品相報告1.5級。

HKD 50,000-75,000 USD 6,400-9,600 2157

212

2158

2158 AN ETAIN EPSOM LEATHER BIRKIN 30 WITH GOLD HARDAWRE HERMÈS 2019 L.30 x H.20 x D.15 cm Condition Report Grade 1 愛馬仕 2019 錫器灰色EPSOM牛皮30公分柏金包附金色金屬配件 尺寸：L.30 x H.20 x D.15 cm，品相報告1級。

HKD 70,000-120,000 USD 9,000-15,400

213

214

2159

2159 A MATTE TRENCH ALLIGATOR BIRKIN 25 WITH GOLD HARDWARE HERMÈS 2019 L.25 x H.19 x D.13 cm Condition Report Grade 1 愛馬仕 2019 霧面風衣灰色短吻鱷魚皮25公分柏金包附金色金屬配件 尺寸：L.25 x H.19 x D.13 cm，品相報告1級。

HKD 320,000-450,000 USD 41,000-57,700 CITES compliance applies to this lot, please refer to our Terms & Conditions. 此拍品受濒危野生動物物種國際貿易公約（CITES）之進出口條款約束，詳情請見目錄說明。

215

2160

2160 A CUSTOM CRAIE & GRIS ASPHALT BI-COLOR EPSOM LEATHER SELLIER KELLY 25 WITH GOLD HARDWARE HERMÈS 2019 L.25 x H.18 x D.10 cm Condition Report Grade 1 愛馬仕 2019 特別訂製奶昔白色及新大象灰色雙色EPSOM牛皮25公分外縫 凱莉包附金色金屬配件 尺寸：L.25 x H.18 x D.10 cm，品相評級1級。

HKD 120,000-220,000 USD 15,385-28,205

216

217

218

2161

2161 A RARE MATTE WHITE HIMALAYAN NILOTICUS CROCODILE BIRKIN 25 WITH PALLADIUM HARDWARE HERMÈS 2019 L.25 x H.18 x D.10 cm Condition Report Grade 1 愛馬仕 2019 罕見霧面白色喜馬拉雅尼羅鱷魚皮25公分柏金包附銀色金屬配件 尺寸：L.25 x H.18 x D.10 cm，品相報告1級。

HKD 600,000-1,200,000 USD 76,900-153,800 CITES compliance applies to this lot, please refer to our Terms & Conditions. 此拍品受濒危野生動物物種國際貿易公約（CITES）之進出口條款約束，詳 情請見目錄說明。

219

2162

2162 A CUSTOM GRIS MOUETTE AND ROSE CONFETTI TOGO LEATHER RETOURNE KELLY 28 WITH PALLADIUM HARDWARE HERMÈS 2019 L.28 x H.21 x D.11 cm Condition Report Grade 1 愛馬仕 2019 特別訂製海鷗灰及彩紙粉色TOGO牛皮28公 分內縫凱莉包附銀色金屬配件 尺寸：L.28 x H.21 x D.11 cm，品相報告1級。

HKD 100,000-180,000 USD 12,800-23,100

220

2163

2163 A BLUE LIN EPSOM LEATHER SELLIER KELLY 32 WITH PALLADIUM HARDWARE HERMÈS 2013 L.32 x H.23 x D.11 cm Condition Report Grade 1-1.5 愛馬仕 2013 亞麻藍色EPSOM牛皮32公分外縫凱莉包附銀色金屬配件 尺寸：L.32 x H.23 x D.11 cm，品相報告1-1.5級。

HKD 60,000-110,000 USD 7,700-14,100

221

2164

2164 A NATURAL AFRICAN MAHOGANY, WHITE WALNUT AND MAKORE MOSAIQUE CIGAR BOX

2165

HERMÈS 2019

HERMÈS 2019

L.36 x H.13 x W.24 cm

Condition Report Grade 1

A SET OF STAINLESS STEEL TABLETOP FLATWARE

Condition Report Grade 1 愛馬仕 2019 愛馬仕 2019

不鏽鋼餐具一組十八件

自然色非洲桃花心木、白胡桃木及馬寇瑞木馬賽克雪茄盒

共十八件，品相報告1級。

尺寸：L.36 x H.13 x W.24 cm，品相報告1級。

HKD 5,000-10,000 USD 600-1,300

222

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

HKD 5,000-10,000 USD 600-1,300

2165

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

223

224

2166

2166 A LIMITED EDITION BLACK SOMBRERO LEATHER 'ON A SUMMER NIGHT' CONSTANCE 19 WITH BLACK ENAMEL AND PALLADIUM HARDWARE BY NIGEL PEAKE HERMÈS 2017 L.19 x H.15 x D.4 cm Condition Report Grade 1 愛馬仕 2017 NIGEL PEAKE設計限量版黑色SOMBRERO小牛皮'ON A SUMMER NIGHT' 19公分CONSTANCE包附黑色琺瑯及 銀色金屬配件 尺寸：L.19 x H.15 x D.4 cm，品相報告1級。

HKD 60,000-100,000 USD 7,700-12,800

225

226

2167

2167 A SHINY BLACK NILOTICUS CROCODILE CONSTANCE 24 WITH PALLADIUM HARDWARE HERMÈS 2013 L.24 x H.18 x D.9 cm Condition Report Grade 1.5 愛馬仕 2013 亮面黑色尼羅鱷魚皮24公分CONSTANCE包附銀色金屬配件 尺寸：L.24 x H.18 x D.9 cm，品相報告1.5級。

HKD 150,000-200,000 USD 19,200-25,600 CITES compliance applies to this lot, please refer to our Terms & Conditions. 此拍品受濒危野生動物物種國際貿易公約（CITES）之進出口條款約束，詳情請見目 錄說明。

227

228

2168

2168 A SHINY BLACK POROSUS CROCODILE BIRKIN 30 WITH GOLD HARDWARE HERMÈS 2019 L.30 x H.20 x D.15 cm Condition Report Grade 1 愛馬仕 2019 亮面黑色POROSUS鱷魚皮30公分柏金包附金色金屬配件 尺寸：L.30 x H.20 x D.15 cm，品相報告1級。

HKD 300,000-500,000 USD 38,500-64,100 CITES compliance applies to this lot, please refer to our Terms & Conditions. 此拍品受濒危野生動物物種國際貿易公約（CITES）之進出口條款約 束，詳情請見目錄說明。

229

230

2169

2169 AN EXTRAORDINARY SHINY BLUE MARINE POROSUS CROCODILE BIRKIN 35 WITH 18K WHITE GOLD AND DIAMOND HARDWARE HERMÈS 2012 L.35 x H.25 x D.18 cm Condition Report Grade 2 愛馬仕 2012 極為罕有亮面深海藍色POROSUS鱷魚皮35公分鑽石柏金包附18K白金及鑽 石金屬配件 尺寸：L.35 x H.25 x D.18 cm，品相報告2級。

HKD 450,000-700,000 USD 57,700-89,700 CITES compliance applies to this lot, please refer to our Terms & Conditions. 此拍品受濒危野生動物物種國際貿易公約（CITES）之進出口條款約束，詳情請見目錄說明。

231

232

2170

2170 A SHINY BLUE ENCRE ALLIGATOR SELLIER KELLY 28 WITH PALLADIUM HARDWARE HERMÈS 2019 L.28 x H.21 x D.11 cm Condition Report Grade 1 愛馬仕 2019 亮面藍紫色短吻鱷魚皮28公分外縫凱莉包附銀色金屬配件 尺寸 L.28 x H.21 x D.11 cm，品相評級1級。

HKD 320,000-420,000 USD 40,800-53,500

233

2171 AN ANEMONE SWIFT LEATHER KELLY POCHETTE WITH PALLADIUM HARDWARE HERMÈS 2020 L.22 x H.13 x D.7 cm Condition Report Grade 1 愛馬仕 2020 海葵紫色SWIFT牛皮KELLY POCHETTE手拿包附銀色 金屬配件 尺寸：L.22 x H.13 x D.7 cm，品相報告1級。

HKD 50,000-70,000 USD 6,400-9,000 2171

2172 AN AMETHYST CLEMENCE LEATHER VICTORIA BAG WITH PALLADIUM BAG HERMÈS 2012 L.32 x H.23 x D.17 cm Condition Report Grade 2.5 愛馬仕 2012 紫水晶色CLEMENCE牛皮VICTORIA包附銀色金屬配件 尺寸：L.32 x H.23 x D.17 cm，品相報告2.5級。

HKD 10,000-20,000 USD 1,300-2,600 2172

234

2173 A LIMITED EDITION AMETHYST & RUBIS VEAU DOBLIS SELLIER KELLY 28 WITH GOLD HARDWARE HERMÈS 1992 L.28 x H.21 x D.11 cm Condition Report Grade 2.5 愛馬仕 1992 限量版紫水晶及紅寶石色VEAU DOBLIS麂皮28公分外 縫凱莉包附金色金屬配件 尺寸：L.28 x H.21 x D.11 cm，品相報告2.5級。

HKD 100,000-160,000 USD 12,800-20,500

2173

235

236

2174

2174 A LIMITED EDITION BLACK BOX LEATHER & RED POTOMAS CANVAS BIRKIN 30 WITH PALLADIUM HARDWARE HERMÈS 2007 L.30 x H.20 x D.15 cm Condition Report Grade 1.5 愛馬仕 2007 限量版黑色BOX牛皮及紅色POTOMAS帆布30公分柏金包附銀色 金屬配件 尺寸：L.30 x H.20 x D.15 cm，品相報告1.5級。

HKD 80,000-180,000 USD 10,300-23,100

237

2175 A RUBIS EPSOM LEATHER KELLY WALLET WITH PERMABRASS HARDWARE HERMÈS 2016 L.20 x H.11 x D.2 cm Condition Report Grade 1 愛馬仕 2016 紅寶石色EPSOM牛皮凱莉皮夾附精銅配件 尺寸：L.20 x H.11 x D.2 cm，品相報告1級。

2175

HKD 15,000-25,000 USD 1,900-3,200

2176 A SHINY SANGUINE ALLIGATOR CDC MEDOR CLUTCH BAG WITH PALLADIUM HARDWARE HERMÈS 2017 L.23 x H.11 x D.5 cm Condition Report Grade 1 愛馬仕 2017 亮面紅柑橘色短吻鱷魚皮CDC MEDOR手拿包附銀色金屬配件 尺寸：L.23 x H.11 x D.5 cm，品相報告1級。

HKD 90,000-120,000 USD 11,500-15,400 2176

CITES compliance applies to this lot, please refer to our Terms & Conditions. 此拍品受濒危野生動物物種國際貿易公約（CITES）之進出口條款約束，詳 情請見目錄說明。

238

2177 A ROUGE VIF EPSOM LEATHER SELLIER KELLY 28 WITH GOLD HARDWARE HERMÈS 1994 L.28 x H.21 x D.11 cm Condition Report Grade 2 愛馬仕 1994 愛馬仕紅色EPSOM牛皮28公分外縫凱莉包附金色金屬配件 尺寸：L.28 x H.21 x D.11 cm，品相報告2級。

HKD 45,000-65,000 USD 5,800-8,300 2177

2178 A RUBIS TADELAKT LEATHER GHILLIES KELLY 35 BAG WITH PERMABRASS HARDWARE HERMÈS 2012 L.35 x H.25 x D.13 cm Condition Report Grade 3 愛馬仕 2012 紅寶石色TADELAKT牛皮35公分GHILLIES凱莉包附精銅配件 尺寸：L.35 x H.25 x D.13 cm，品相報告3級。

HKD 30,000-50,000 USD 3,800-6,400 2178

239

2179 A ROSE D'ETE EVERCOLOR LEATHER KELLY DANSE WITH PALLADIUM HARDWARE HERMÈS 2020 L.22 x H.17 x D.7 cm Condition Report Grade 1 愛馬仕 2020 夏日玫瑰粉色EVERCOLOR牛皮KELLY DANSE包附銀色金 屬配件 尺寸：L.22 x H.17 x D.7 cm，品相報告1級。

HKD 50,000-80,000 USD 6,400-10,300 2179

2180 A ROSE AZALEE EPSOM LEATHER SELLIER KELLY 25 WITH PALLADIUM HARDWARE HERMÈS 2019 L.25 x H.18 x D.10 cm Condition Report Grade 1 愛馬仕 2019 唇膏粉色EPSOM牛皮25公分外縫凱莉包附銀色金屬配件 尺寸：L.25 x H.18 x D.10 cm，品相報告1級。

HKD 70,000-120,000 USD 9,000-15,400 2180

240

2181

2181 A ROSE TYRIEN OSTRICH MINI KELLY II WITH PALLADIUM HARDWARE HERMÈS 2019 L.20 x H.12 x D.6 cm Condition Report Grade 1 愛馬仕 2019 糖果粉色鴕鳥皮MINI KELLY II包附銀色金屬配件 尺寸：L.20 x H.12 x D.6 cm，品相報告1級。

HKD 150,000-220,000 USD 19,200-28,200 CITES compliance applies to this lot, please refer to our Terms & Conditions. 此拍品受濒危野生動物物種國際貿易公約（CITES）之進出口 條款約束，詳情請見目錄說明。

241

242

2182

2182 A SHINY ROSE EXTREME LIZARD CONSTANCE 19 WITH PALLADIUM HARDWARE HERMÈS 2019 L.19 x H.15 x D.4 cm Condition Report Grade 1 愛馬仕 2019 亮面極致粉色蜥蜴皮19公分CONSTANCE包附銀 色金屬配件 尺寸：L.19 x H.15 x D.4 cm，品相報告1級。

HKD 140,000-220,000 USD 17,900-28,200 CITES compliance applies to this lot, please refer to our Terms & Conditions. 此拍品受濒危野生動物物種國際貿易公約（CITES）之進出口 條款約束，詳情請見目錄說明。

243

244

2183

2183 A SHINY ROSE SCHEHERAZADE ALLIGATOR MINI KELLY II WITH GOLD HARDWARE HERMÈS 2019 L.20 x H.12 x D.6 cm Condition Report Grade 1 愛馬仕 2019 亮面桃紅色短吻鱷魚皮MINI KELLY II包附金色金屬配件 尺寸：L.20 x H.12 x D.6 cm，品相報告1級。

HKD 180,000-300,000 USD 23,100-38,500 CITES compliance applies to this lot, please refer to our Terms & Conditions. 此拍品受濒危野生動物物種國際貿易公約（CITES）之進出口條款約 束，詳情請見目錄說明。

245

2184

2184 A CUSTOM ROSE AZALEE & GRIS MOUETTE EPSOM LEATHER SELLIER KELLY 25 WITH GOLD HARDWARE HERMÈS 2018 L.25 x H.18 x D.10 cm Condition Report Grade 1 愛馬仕 2018 特別訂製唇膏粉及海鷗灰EPSOM牛皮外縫25公分凱莉包附金色金屬配件 尺寸：L.25 x H.18 x D.10 cm，品相報告1級。

HKD 120,000-180,000 USD 15,400-23,100

246

247

2185

2185 A SET OF CARNETS D'EQUATEUR PORCELAIN TABLEWARE HERMÈS 2019 15 PIECES IN TOTAL Condition Report Grade 1 愛馬仕 2019 CARNETS D'EQUATEUR系列瓷質餐具一組十五件 共十五件，品相報告1級。

HKD 5,000-10,000 USD 600-1,300

248

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

2186

2186 A SET OF PORCELAIN ASHTRAYS HERMÈS 2019 9 PIECES IN TOTAL Condition Report Grade 1 愛馬仕 2019 瓷質煙灰缸一組九件 共九件，品相報告1級。

HKD 5,000-10,000 USD 600-1,300

紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

249

2187 A BLUE JEAN TOGO LEATHER RETOURNE KELLY 25 WITH PALLADIUM HARDWARE HERMÈS 2008 L.25 x H.18 x D.10 cm Condition Report Grade 2.5 愛馬仕 2008 牛仔藍色TOGO牛皮25公分內縫凱莉包附銀色金屬配件 尺寸：L.25 x H.18 x D.10 cm，品相報告2.5級。

HKD 45,000-70,000 USD 5,800-9,000 2187

2188 A BLUE JEAN TOGO LEATHER BIRKIN 30 WITH PALLADIUM HARDWARE HERMÈS 2007 L.30 x H.20 x D.15 cm Condition Report Grade 2.5 愛馬仕 2007 牛仔藍色TOGO牛皮30公分柏金包附銀色金屬配件 尺寸：L.30 x H.20 x D.15 cm，品相報告2.5級。

HKD 40,000-60,000 USD 5,100-7,700 2188

250

2189

2189 A CUSTOM BLUE ZANZIBAR & GRIS TOURTERELLE CHEVRE LEATHER SELLIER KELLY 28 WITH GOLD HARDWARE HERMÈS 2017 L.28 x H.21 x D.11 cm Condition Report Grade 1 愛馬仕 2017 特別訂製彩藍及斑鳩灰色CHEVRE羊皮28公分外縫凱莉包附金色金屬配件 尺寸：L.28 x H.21 x D.11 cm，品相報告1級。

HKD 100,000-180,000 USD 12,800-23,100

251

252

2190

2190 A LIMITED EDITION BLACK, BLUE ENCRE, OBSCUR, ZELLIGE TOGO LEATHER LETTRE 'E' SELLIER KELLY 28 WITH PALLADIUM HARDWARE HERMÈS 2018 L.28 x H.21 x D.11 cm Condition Report Grade 1 愛馬仕 2018 限量版黑色，藍紫色，深藍色及艷藍色TOGO牛皮28公分外縫字母 'E' 包附銀色 金屬配件 尺寸：L.28 x H.21 x D.11 cm，品相報告1級。

HKD 150,000-250,000 USD 19,200-32,100

253

254

2191

2191 A LIMITED EDITION BLUE ZELLIGE & BLUE AGATE SWIFT LEATHER KELLY DOLL WITH PALLADIUM HARDWARE HERMÈS 2019 L.15 x H.12 x D.6 cm Condition Report Grade 1 愛馬仕 2019 限量版琉璃藍色及瑪瑙藍色SWIFT牛皮KELLY DOLL包附銀色金屬配件 尺寸：L.15 x H.12 x D.6 cm，品相報告1級。

HKD 90,000-200,000 USD 11,500-25,600

255

256

2192

2192 A LIMITED EDITION BLUE ZANZIBAR & MALACHITE TOGO LEATHER BIRKIN 30 WITH PALLADIUM HARDWARE HERMÈS 2017 L.30 x H.20 x D.15 cm Condition Report Grade 1 愛馬仕 2017 限量版彩藍色及孔雀綠色TOGO牛皮30公分柏金包附銀色金屬配件 尺寸：L.30 x H.20 x D.15 cm，品相報告1級。

HKD 70,000-130,000 USD 9,000-16,700

257

258

2193

2193 A SHINY VERT ROUSSEAU ALLIGATOR KELLY 25 WITH GOLD HARDWARE HERMÈS 2019 L.25 x H.18 x D.10 cm Condition Report Grade 1 愛馬仕 2019 亮面盧梭綠色短吻鱷魚皮25公分外縫凱莉包附金色金屬配件 尺寸：L.25 x H.18 x D.10 cm，品相報告1級。

HKD 280,000-450,000 USD 35,900-57,700 CITES compliance applies to this lot, please refer to our Terms & Conditions. 此拍品受濒危野生動物物種國際貿易公約（CITES）之進出口條款約 束，詳情請見目錄說明。

259

260

2194

2194 A LIMITED EDITION BLACK BOX LEATHER & BLUE POTOMAS CANVAS BIRKIN 30 WITH PALLADIUM HARDWARE HERMÈS 2006 L.30 x H.20 x D.15 cm Condition Report Grade 1-1.5 愛馬仕 2006 限量版黑色BOX牛皮及藍色POTOMAS帆布30公分柏金包附銀色 金屬配件 尺寸：L.30 x H.20 x D.15 cm，品相報告1-1.5級。

HKD 80,000-180,000 USD 10,300-23,100

261

262

2195

2195 A LIMITED EDITION MATTE BLUE MARINE ALLIGATOR & ORANGE SWIFT, MADAME, SOMBRERO & EPSOM LEATHER SELLIER FAUBOURG BIRKIN 20 WITH PALLADIUM HARDWARE HERMÈS 2019 L.20 x H.15.5 x D.11 cm Condition Report Grade 1 愛馬仕 2019 限量版霧面黑藍色短吻鱷魚皮, 橙色SWIFT牛皮, MADAME, SOMBRERO及EPSOM牛皮20公分外縫FAUBOURG BIRKIN包 附銀色金屬配件 尺寸：L.20 x H.15.5 x D.11 cm，品相報告1級。

HKD 500,000-1,000,000 USD 64,100-128,200 CITES compliance applies to this lot, please refer to our Terms & Conditions. 此拍品受濒危野生動物物種國際貿易公約（CITES）之進出口條款約束，詳情請見目 錄說明。

263

WATCHES INDEX Brand

Lot

Audemars Piguet

2085, 2087, 2114

Blancpain

2100, 2111

Boucheron

2088

Breguet

2068, 2099, 2108, 2115, 2117

Bvlgari

2116

Cartier

2067, 2083

Chanel

2065

Chopard

2063, 2066, 2086

Corum

2091

Daniel Roth

2112

De Beers

2073

DeLaneau

2070, 2071, 2072

DeWitt

2064, 2107

Harry Winston

2069

Hermes

2075

Jaeger-LeCoultre

2059, 2060

Kerbedanz

2113

Omega

2105, 2106

Panerai

2101, 2102

Patek Philippe

2061, 2062, 2077, 2079, 2080, 2081, 2082, 2118, 2119, 2120

Richard Mille

2103

Roger Dubuis

2104

Rolex

2090, 2092, 2093, 2094, 2095, 2096, 2097, 2098

Ulysse Nardin

2076

Vacheron Constantin

2074, 2078, 2084, 2109, 2110

Van Cleef & Arpels

2089

é‡?čŚ é€šĺ‘Š IMPORTANT NOTICES

äż?ĺˆŠéŚ™ć¸Żć‹?čłŁćœ‰é™?ĺ…Źĺ?¸ ( äťĽä¸‹ç¨ąç‚şâ€œäż?ĺˆŠéŚ™ć¸Żć‹?賣â€?ćˆ– â€œćœŹĺ…Źĺ?¸â€?) čˆ‰čžŚçš„ć‹?賣洝動ĺ?‡äž?ć“šćœŹĺœ–éŒ„ä¸­ć‰€é™„äš‹ćĽ­ ĺ‹™čŚ?則〠é‡?čŚ é€šĺ‘Šă€ çŤśćŠ•ç™ťč¨˜é ˆç&#x;Ľĺ?Šč˛Ąĺ‹™äť˜ćŹžé ˆç&#x;Ľé€˛ čĄŒďźŒĺ?ƒĺŠ ć‹?čłŁć´ťĺ‹•çš„çŤśćŠ•äşşé ˆäť”ç´°é–ąčŽ€ä¸ŚäşˆäťĽé ľĺŽˆă€‚ 芲等漭務čŚ?則ĺ?ŠčŚ?厚ĺ?ŻäťĽäťĽĺ…Źĺ‘Šćˆ–ĺ?Łé ­é€šç&#x;Ľĺ˝˘ĺź?é€˛čĄŒäżŽ 攚 , č€Œä¸?éœ€čŚ ĺ?ŚčĄŒé€šç&#x;Ľă€‚ The auctions held by Poly Auction (Hong Kong) Limited (“Poly Auction (Hong Kong)â€?or“our companyâ€?) are conducted according to the Conditions of Business, Important Notices, Important Notices about Bidding Registration and Important Notice about Payment, and anyone participating in the auction should read the terms carefully. ese Conditions and rules may be revised by announcement or verbal notiďŹ cation without prior notice. ä¸‹ć–‡ć—¨ĺœ¨çľŚäşˆé–Łä¸‹ćœ‰é—œĺŚ‚ä˝•ĺœ¨ć‹?čłŁćœƒä¸ŠçŤśćŠ•äš‹ĺŻŚç”¨čł‡ ć–™ă€‚ć–źćœŹĺœ–éŒ„ĺ‰?éƒ¨äť˝ć‰€ĺˆ—äš‹äż?ĺˆŠéŚ™ć¸Żć‹?čłŁč ˇĺ“Ąĺ°‡ć¨‚ć„? ĺ?”ĺŠŠé–Łä¸‹ă€‚ç„śč€ŒďźŒé–Łä¸‹ĺ‹™é ˆčŠłé–ąä¸‹ĺˆ—čł‡ć–™ďźŒä¸Śé ˆćł¨ć„? äż?ĺˆŠéŚ™ć¸Żć‹?čłŁäšƒčłŁć–šäš‹äťŁčĄ¨ă€‚ The following pages are designed to give you useful information on how to bid at auction. Poly Auction (Hong Kong)'s sta as listed at the front of this catalogue will be happy to assist you. However, it is important that you read the following information carefully and note that Poly Auction (Hong Kong) acts for the seller.

ĺą•ĺ“ äš‹ĺ‡şč™• ĺœ¨ć&#x;?äş›ćƒ…ćł ä¸‹ďźŒč‹Ľĺą•ĺ“ ĺ‡şč™•äš‹čł‡ć–™ć“ ćœ‰ĺ­¸čĄ“ĺƒšĺ€źćˆ–ć˜Ż ç‚şäşşç†&#x;ć‚‰ä¸”čƒ˝ĺ?”ĺŠŠé‘‘ĺˆĽčŠ˛ĺą•ĺ“ ďźŒäż?ĺˆŠéŚ™ć¸Żć‹?čłŁćœƒĺœ¨ĺœ– éŒ„ĺ…§ĺˆŠĺ?°ćœ‰é—œčł‡ć–™ă€‚但ĺ&#x;şć–źä¸?ĺ?Œç?†ç”ąďźŒčłŁć–šćˆ–上手牊 ä¸ťäš‹čşŤäť˝ćˆ–ä¸?ćœƒč˘Ťć?­éœ˛ďźŒĺŚ‚ĺ› ć‡‰čłŁć–ščŚ ćą‚ĺ°‡čşŤäť˝äż?密 ćˆ–ĺ› ĺą•ĺ“ ĺš´äťŁäš…é 䝼致上手牊丝䚋躍䝽ä¸?芳等。

PROVENANCE In certain circumstances, Poly Auction (Hong Kong) may print in the catalogue the history of ownership of a work of art if such information contributes to scholarship or is otherwise well known and assists in distinguishing the work of art. However, the identity of the seller or previous owners may not be disclosed for a variety of reasons. For example, such information may be excluded to accommodate a seller's request for conďŹ dentiality or because the identity of prior owners is unknown given the age of the work of art.

č˛ˇĺŽść”Żäť˜äš‹ä˝Łé‡‘ č˛ˇĺŽść‡‰ć”Żäť˜ćœŹĺ…Źĺ?¸ä˝Łé‡‘ ă€‚ä˝Łé‡‘ćŒ‰ćŻ?äťść‹?čłŁĺ“ č?˝ć§Œĺƒšäš‹ 18ďź…č¨ˆçŽ—ă€‚

BUYER’S PREMIUM A buyer’s premium will be added to the Hammer Price and is payable by the buyer as part of the total purchase price. e buyer’s premium is 18% of the hammer price of each lot up.

ć‹?čłŁĺ“ äš‹ç‹€ćł çŤśćŠ•äşşć‡‰ć–źć‹?賣ĺ‰?äš‹é ?ĺą•ä¸­ĺŻŠçœ‹ć‹?čłŁĺ“ ďźŒä¸Śĺ°?自塹 çš„çŤśćŠ•čĄŒç‚şć‰żć“”č˛Źäťť ( ĺŒ…ć‹Źä˝†ä¸?é™?斟法型貏䝝 )。匂 揲進一歼瞭解ć‹?čłŁĺ“ čł‡ć–™ďźŒčŤ‹ĺ?‘漭務人哥荎芢。匂 ĺœ–éŒ„ä¸­ćœŞčŞŞć˜Žć‹?čłŁĺ“ äš‹ç‹€ćł ďźŒä¸?襨示芲ć‹?čłŁĺ“ ć˛’ćœ‰ çźşé™ˇćˆ–ç‘•ç–ľă€‚

CONDITIONS OF THE PROPERTIES Bidder must review the Lot(s) in the preview before the auction, and bear all responsibilities(including but not

limit to legal liability and/or responsibility) of his/her bidding acts. For more information on the Properties, please consult our business sta. If the conditions of a Property are not described in the catalogue, this does not mean that the Property has no weakness or defects.

ĺ?—é™?ĺˆśç‰Šć–™ é™„ćœ‰â–˛çŹŚč™&#x;äš‹ć‹?čłŁĺ“ ć–źçˇ¨ĺˆśĺœ–éŒ„ç•ść™‚ĺˇ˛č­˜ĺˆĽç‚şĺ?Ťćœ‰ĺ?— é™?ĺˆśç‰Šć–™ďźŒč€Œćœ‰é—œç‰Šć–™ĺ?Żčƒ˝ĺ?—ĺˆ°é€˛ĺ‡şĺ?Łäš‹é™?ĺˆśă€‚ćœ‰é—œ 資料為斚䞿獜投人ć&#x;Ľé–ąďźŒč€Œç„Ąé™„ćœ‰čŠ˛çŹŚč™&#x;丌é?žäż?證芲 ć‹?čłŁĺ“ ä¸Śç„Ąé€˛ĺ‡şĺ?Łäš‹é™?ĺˆśă€‚ç”ąć¤?ç‰Šćˆ–ĺ‹•ç‰Šć??ć–™ ( 匂ç?Š ç‘šă€ éąˇé­šă€ čąĄç‰™ă€ éŻ¨éŞ¨ă€ çŽłç‘ ă€ çŠ€ç‰›č§’ĺ?Šĺˇ´čĽżçŽŤç‘°ćœ¨ç­‰ ) 製ćˆ?ćˆ–ĺ?Ťćœ‰ć¤?ç‰Šćˆ–ĺ‹•ç‰Šć??ć–™äš‹ç‰Šĺ“ ďźŒä¸?荖 ĺš´äť˝ćˆ–ĺƒš ĺ€źďźŒĺ?‡ĺ?Żčƒ˝é ˆ ĺ?Żč­‰ćˆ–č­‰ ć–šĺ?Żĺ‡şĺ?Ł 錙港 ďźŒ 且甹錙港 厜進ĺ?Łć™‚ĺ?Żčƒ˝é ˆ ĺ?Żč­‰ćˆ–č­‰ 。務荋注ć„?ďźŒčƒ˝ 出ĺ?Ł ĺ?Żč­‰ćˆ–č­‰ 丌ä¸?čƒ˝ äż? ĺ?Żĺœ¨ĺ?Śä¸€ 厜 進ĺ?Ł ĺ?Żč­‰ćˆ–č­‰ ďźŒ äš‹ 焜。 ĺŚ‚ďźŒĺ°‡ 時ä¸? 100 嚴䚋蹥牙進ĺ?Ł é?žćł•ă€‚ 獜投人應ĺ?‘ é—œ ć&#x;Ľ ćœ‰é—œ 動牊ć¤?牊進ĺ?Łäš‹čŚ? 厚 ĺ?ƒ çŤśćŠ•ă€‚č˛ˇĺŽśé ˆ 貏 䝝何出ĺ?Łćˆ–進ĺ?Ł ĺ?Żč­‰ćˆ–č­‰ ďźŒäťĽĺ?Šäťťä˝• ć‰€éœ€ć–‡äťśă€‚

RESTRICTED MATERIALS Properties with â–˛ symbol have been identiďŹ ed be made of or containing restricted materials at the time of the compiling of the catalogue, and the materials concerned may be subject to import and export restraints. Properties without this symbol it is not guaranteed that Properties are not subject to import and export restraints. For items made of botanic or animal materials (coral, crocodile, ivory, whale bone, tortoise, rhinoceros horn and Brazilian Rosewood, etc.) or containing botanic oranimal materials, regardless of their year or value, may require application for permits or certiďŹ cates before exporting outside Hong Kong, and other application for permits or certiďŹ cates may be required when importing into countries outside Hong Kong. Please pay attention that the ability to obtain export permits or certiďŹ cates does not ensure that import permits or certificates can be obtained in another country, and vice versa. For example, importing ivory of less than 100 years is illegal in the USA. Bidders should enquire about the import regulations on products made of or containing wild animals and plants materials of the governments concerned before participating in an auction. Buyers must be responsible for obtaining any export or import permits/ or certiďŹ cates and any other documents required.

雝器ĺ?ŠćŠ&#x;ć˘°č˛¨ĺ“ ć‰€ćœ‰  ĺ?ŠÂ?Â?Â?ĺ“ Â?ćŒ‰ Â Â­ĺƒšĺ€źĺ‡şÂ€ďźŒä¸?ć‡‰Â‚Âƒ ĺ?ŻÂ„…。 Â ĺœ¨Â…äťťä˝•ç”¨Â†ĺ‰?Â‡é ˆÂˆÂ‰ÂŠ  ‹ŒŽ‘ ’“ 。

ELECTRICAL APPLIANCES AND MECHANICAL MERCHANDISES All electrical appliances and mechanical merchandises are sold on an“as isâ€?basis, and should not be assumed that they operate. Before putting into any use, electrical appliances must be inspected and approved by qualiďŹ ed electric technicians.

ç? 寜 〠é?˜éŒśĺ?Šć‰‹č˘‹ĺ°šĺ“ ćœ‰é—œć˜ŻÂ”ç? 寜ć‹?čłŁĺ“ çš„ç‹€ćł Â•Â–é€šÂ—ćœƒÂ˜ć–źĺœ–éŒ„ä¸ŠďźŒç„ś č€Œć˛’ćœ‰čŞŞć˜Žä¸?䝣襨芲ć‹?čłŁĺ“ ć˛’ćœ‰çźşé™ˇă€ ç‘•ç–ľćˆ–ćœŞÂˆ ™ 處ç?†ă€‚ ćœ‰ÂšĺŻśÂ›çš„ ™處ç?†ďźŒĺŚ‚ĺŠ Âœă€ ç”¨Âžćˆ–Â&#x;ÂĄç­‰ďźŒ 塲袍 ¢ç? ĺŻśÂŁĺ ´Â¤ÂĽÂŚĺ?—。 匂芲䝜ć‹?čłŁĺ“ ĺˇ˛ĺ?‘ ¢兏 §寜›™‘所 Â‘č­‰Â¨ĺ‘ŠďźŒć‰€ç&#x;Ľçš„é‡?čŚ ÂŠĺŻŚĺ?Šç? 寜狀

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JEWELRY, WATCHES AND HANDBAGS Description of the conditions of Jewelry Lot(s) usually contained in the catalog, however, absence of a description does not imply that the Lot(s) is free from defects or imperfection or beautification process.

Beautification processes of colored gemstones such as heat enhancement, oiling or irradiation etc, have been generally accepted by the international jewelry markets.

If Poly Auction (Hong Kong) has obtained gemological reports from internationally recognized gemological laboratories for the Lot(s), all known important facts and conditions of the Lot(s) have contained in the catalog, our company assumes no responsibility for accuracy of the reports. It may not be feasible for Poly Auction (Hong Kong) to obtain laboratory report for all Lot(s), the estimates are based on all known information at the moment. Bidders must inspect conditions of the Lot(s) by themselves before the auction, any dissent about conditions of the Lot(s) after the bid shall not justify rescission or cancellation of a sale or any delay payment.

If bidders request designated laboratory report for any Lot(s), such request should be raised out 14 workings days before the auction and at own cost. Bidders should also aware that Lot(s) containing jadeite or gemstones originating from Burma may not allowed to be imported into the U.S., this will not constitute a ground for rescission or cancellation of a sale or any delay payment.

Lot(s) of clocks and watches in the catalog will be sold at current status (i.e. as is), bidders should personally inspect conditions of the Lot(s) before the auction. Descriptions of the Lot(s) in catalog are for reference only, absence of a description does not imply that the Lot(s) is in good condition, free from defects or restorations. Descriptions only reflect subjective opinions of experts of Poly Auction (Hong Kong), it is not a statement of facts, nor a complete record of all repairs, component replacements or restorations. Poly Auction (Hong Kong) makes no guarantee on operation, water-resistance, authenticity and originality of individual parts (including watchstrap) of the Lot(s). In addition, bidders should aware the import restrictions of the U.S. concerning luxury watches.

Where the tone, color, graduation shape or any other feature of the Lot shown in the catalogue and/or any other illustrations, images and public materials differ from those of the original Lot due to printing, photography or other technical reasons, the original Lot shall take precedence. Any introduction and appraisal of any Lot made by the Company and its employees or its agents in any way (including the certificate, catalogue, slideshow and news media) are only opinions for reference and do not constitute any guarantee for the Lot. The Company and its employees or its agents shall undertake no liability for any inaccuracy or omission in the aforesaid introduction or appraisal.

Condition reports and grade are provided free of charge as a convenience to our buyers and are for guidance only. They are not an alternative for examining a lot in person or taking your own professional advice from Specialists. Bidders must inspect conditions of the lot(s) by themselves before the auction. Any dissent about conditions of the lot(s) after the bid shall not justify rescission or cancellation of a sale or any delay in payment. The condition of lots sold in our auctions can vary widely due to factors such as age, previous damage,

restoration, repair and wear tear. The grading of watches is based on the general condition, quality, technical and historical interest, age and rarity of each timepiece. Lots are sold â&#x20AC;&#x153;as is,â&#x20AC;? in the condition they are in at the time of the sale, without any representation or warranty as to condition by Poly Auction (Hong Kong) or by the seller. The buyers acknowledge and agree that any sale is entirely the buyersâ&#x20AC;&#x2122; decision, and the buyers have not relied upon any representation or other information (whether oral or written) by Poly Auction (Hong Kong) or by the seller.

Condition Grades of Watches Grading 1: As new. The timepiece appears with neither signs of use nor ownership over time. The movement is in working order when cataloguing.

Grading 1.5: In excellent condition. The timepiece appears with extremely slight signs of ownership over time. It may exhibit very slight hairline scratches on the case but no obvious signs of use. The movement is in working order when cataloguing.

Grading 2: In very good condition. The timepiece appears with slight signs of use over time. It may exhibit slight scratches on the case. The movement is in working order when cataloguing.

Grading 2.5: In good condition. The timepiece appears with obvious signs of use and scratches on the case. The movement is in working order when cataloguing.

Grading 3: In fair condition. The timepiece appears with very obvious signs of use and scratches/defects.

Maintenance may be required.

For more details, please refer to the Condition Report for each lot.

Condition Grades of Handbags Grading 1: As new. Appears never to have been used. It exhibits no signs of wear.

Grading 1.5: In mint condition; virtually new and unused with very minor signs of ownership over time.

Grading 2: In pristine condition. To the untrained eye, it may appear brand new. There may be a slight condition note, but overall the piece is in excellent condition.

Grading 3: In excellent condition. This is a piece that has seldom been used and shows little to no wear. There may be small condition issues to note overall the piece is in excellent condition.

Grading 4: In very good condition. This piece may show signs of light wear. It is in very good condition but the corners may show signs of light scuffing, the base may show light scratches, and the hardware may exhibit light marks.

Grading 5: In good condition. This piece shows significant wear. There are condition issues that will be noted in the condition report.

Grading 6: In fair condition. This piece shows significant w e a r a n d / o r d a m a g e . I t m ay re q u i re re p a i r o r refurbishment in order to be used. Condition issues will be noted in the condition report.

é&#x2026;&#x2019;éĄ&#x17E;ĺ?&#x160;č&#x152;śč&#x2018;&#x2030; ć&#x153;&#x2030;é&#x2014;&#x153;ć&#x2DC;ŻÂ&#x201D;mnĺ?&#x160;opć&#x2039;?賣ĺ&#x201C; ç&#x161;&#x201E;Â&#x2022;Â&#x2013;塲ĺ&#x2C6;&#x2014;ć&#x2013;źĺ&#x153;&#x2013;é&#x152;&#x201E;ä¸&#x160;ďź&#x152;ć&#x153;Źĺ&#x2026;Ź ĺ?¸Â¸q獜ć&#x160;&#x2022;äşşć&#x2021;&#x2030;ĺ&#x153;¨çŤść&#x160;&#x2022;ĺ&#x2030;?芳細r解ć&#x2039;?賣ĺ&#x201C; ă&#x20AC;&#x201A;獜ć&#x160;&#x2022;äşşĺ&#x153;¨e ĺ ´ĺ?&#x192; 獜ć&#x160;&#x2022; sç&#x201A;şçŤść&#x160;&#x2022;人§ĺ?Żä¸ŚÂŚĺ?&#x2014;ć&#x2030;&#x20AC;獜ć&#x160;&#x2022;ć&#x2039;?賣ĺ&#x201C; äš&#x2039;ĺ&#x152;&#x2026;  ă&#x20AC; ĺ&#x201C; :ă&#x20AC; ç&#x2039;&#x20AC;Ă°ç­&#x2030;ďź&#x152;獜ć&#x160;&#x2022;人獜ć&#x160;&#x2022;ć&#x2C6;?t ĺ°?ć&#x2039;?賣ĺ&#x201C; °ä¸?ĺ?&#x152; ć&#x201E;?Âąďź&#x152;ä¸? ²ć&#x2C6;?³´ć&#x2C6;&#x2013;³¾ĺ°?芲ć&#x2039;?賣ĺ&#x201C; äš&#x2039;獜ć&#x160;&#x2022;ć&#x2C6;&#x2013;œ¡äť&#x2DC; 揞ç&#x161;&#x201E;ç?&#x2020;ç&#x201D;ąă&#x20AC;&#x201A;財厜¸Â?ć&#x2122;&#x201A;čŤ&#x2039;寊uÂ&#x2018;Â?ă&#x20AC;&#x201A;財厜 ( ć&#x2C6;&#x2013; 䝣ç?&#x2020;äşş ) vP ďź&#x152; 襨示塲Œĺ?&#x2014;ć&#x2039;?賣ĺ&#x201C; äš&#x2039;ç&#x2039;&#x20AC;ćł ĺ?&#x160;:wďź&#x152;ĺ&#x152;&#x2026;ć&#x2039;Źä˝&#x2020;ä¸? é&#x2122;?ć&#x2013;źÂ?ĺ&#x201C; ĺ&#x152;&#x2026; xă&#x20AC; yză&#x20AC; Ă?wă&#x20AC; m ä¸&#x160;ç­&#x2030;Ăąĺ&#x153;¨ç&#x161;&#x201E;çźşé&#x2122;ˇ ć&#x2C6;&#x2013;ç&#x2018;&#x2022;ç&#x2013;ľďź&#x152;ä¸&#x201D;ç&#x201E;Ą ă&#x20AC;&#x201A;

ALCOHOL AND TEA The descriptions about the auction of alcohol and tea are being stated in the catalogue. Our company reminds bidders to learn more about the auctioned products before bidding. Bidder's participation in bidding at auction is deemed as the bidder's approval and acceptance of the package, quality and status of the auctioned items. Any different opinion formed by the bidders after successful bidding, will not constitute a valid reason to withdraw or cancel the bid and delay payment for the auctioned item. Buyers should cautiously inspect the auctioned item during collection.

Upon acknowledging receipt of the auctioned item by the buyer (or his agent), the buyer confirms that he or she has accepted the state and quality including but not limited to any defect or flaw on, e.g. the packaging, labels, level of wear and tear, cork, etc., of the auctioned items without any objection.

čŞ&#x17E;č¨&#x20AC;ć&#x2013;&#x2021;ć&#x153;Ź ć&#x153;Źĺ&#x2026;Źĺ?¸ćĽ­ĺ&#x2039;&#x2122;čŚ?ĺ&#x2030;&#x2021;ă&#x20AC; é&#x2021;?čŚ é&#x20AC;&#x161;ĺ&#x2018;&#x160;ă&#x20AC; é&#x152;&#x201E;硨ĺ&#x2C6;&#x2014;ć&#x2013;šćł&#x2022;äš&#x2039;說ć&#x2DC;&#x17D;ă&#x20AC; 獜ć&#x160;&#x2022;ç&#x2122;ťč¨&#x2DC;é &#x2C6;ç&#x;Ľă&#x20AC; 貥ĺ&#x2039;&#x2122;äť&#x2DC;揞é&#x20AC;&#x161;ç&#x;Ľĺ?&#x160;Â&#x2DC;ć&#x2013;źĺ&#x153;&#x2013;é&#x152;&#x201E;ă&#x20AC; ç&#x201D;ąć&#x2039;?賣 ĺ&#x2026;Ź ć&#x2C6;&#x2013;ć&#x2013;źć&#x2039;?賣ć&#x153;&#x192;ĺ ´äťĽé&#x20AC;&#x161;ĺ&#x2018;&#x160;形ĺź?¸šäš&#x2039;ć&#x2030;&#x20AC;ć&#x153;&#x2030; 揞ă&#x20AC; äťśă&#x20AC; é&#x20AC;&#x161;ç&#x;Ľă&#x20AC; 襨Â&#x160;ç­&#x2030;ć&#x2013;&#x2021;䝜䝼ĺ?&#x160;ć&#x153;Źĺ&#x153;&#x2013;é&#x152;&#x201E;中ć&#x2039;?賣ĺ&#x201C; äš&#x2039;Ă&#x160;Â&#x2013;ďź&#x152; ĺ?&#x2021;䝼中ć&#x2013;&#x2021;ć&#x2013;&#x2021;ć&#x153;Źç&#x201A;şĂľďź&#x152; ć&#x2013;&#x2021;ć&#x2013;&#x2021;ć&#x153;ŹĂ&#x2039;šĺ?&#x192;Ă&#x152;ă&#x20AC;&#x201A;

LANGUAGE The Chinese version of the Conditions of Business, Important Notice, Explanation of Cataloguing Practice, Important Notice about Bidding Registration, Important Notice about Payment, and all other documents such as the terms, conditions, notices, forms etc. contained in this catalogue, announced by the auctioneer or provided at the saleroom as well as the descriptions of the Properties in this catalogue of our company shall be binding and the English version is for reference only.

ç&#x2030;&#x2C6;ćŹ&#x160; ć&#x153;Źĺ&#x153;&#x2013;é&#x152;&#x201E; ć&#x153;Źĺ&#x2026;Źĺ?¸ć&#x2030;&#x20AC;ć&#x153;&#x2030;ă&#x20AC;&#x201A;ć&#x153;ŞÂ&#x2C6;ć&#x153;Źĺ&#x2026;Źĺ?¸ " ĺ?Żďź&#x152;ä¸? 䝼䝝ä˝&#x2022;形ĺź?ĺ°?ć&#x153;Źĺ&#x153;&#x2013;é&#x152;&#x201E;ç&#x161;&#x201E;äťťä˝&#x2022;é&#x192;¨ é&#x20AC;˛čĄ&#x152; 製ć&#x2C6;&#x2013;é&#x20AC;˛čĄ&#x152; äťťä˝&#x2022;形ĺź?ç&#x161;&#x201E;2ç&#x201D;¨ă&#x20AC;&#x201A;

COPYRIGHT ďŹ&#x201D;e copyright of this catalogue belongs to our company.

Without the written permission of our company, no parts of this catalogue shall be reproduced in any ways or used in any other ways.

解é&#x2021;&#x2039;ćŹ&#x160; ć&#x153;Źĺ&#x2026;Źĺ?¸ćĽ­ĺ&#x2039;&#x2122;čŚ?ĺ&#x2030;&#x2021;ă&#x20AC; é&#x2021;?čŚ é&#x20AC;&#x161;ĺ&#x2018;&#x160;ă&#x20AC; é&#x152;&#x201E;硨ĺ&#x2C6;&#x2014;ć&#x2013;šćł&#x2022;äš&#x2039;說ć&#x2DC;&#x17D;ă&#x20AC; 獜ć&#x160;&#x2022;ç&#x2122;ťč¨&#x2DC;é &#x2C6;ç&#x;Ľă&#x20AC; 貥ĺ&#x2039;&#x2122;äť&#x2DC;揞é &#x2C6;ç&#x;Ľĺ?&#x160;Â&#x2DC;ć&#x2013;źĺ&#x153;&#x2013;é&#x152;&#x201E;ă&#x20AC; ç&#x201D;ąć&#x2039;?賣 ĺ&#x2026;Ź ć&#x2C6;&#x2013;ć&#x2013;źć&#x2039;?賣ć&#x153;&#x192;ĺ ´äťĽé&#x20AC;&#x161;ĺ&#x2018;&#x160;形ĺź?¸šäš&#x2039;ć&#x2030;&#x20AC;ć&#x153;&#x2030; 揞ă&#x20AC; äťśă&#x20AC; é&#x20AC;&#x161;ç&#x;Ľă&#x20AC; 襨Â&#x160;ç­&#x2030;ć&#x2013;&#x2021;äťśç&#x161;&#x201E;解 ĺ?&#x2021;ç&#x201D;ąć&#x153;Źĺ&#x2026;Źĺ?¸čĄ&#x152;2ă&#x20AC;&#x201A; RIGHT OF INTERPRETATION ďŹ&#x201D;e right of interpretation in respect of the Conditions of Business, Important Notice, Explanation of Cataloguing Practice, Important Notice about Bidding Registration, Impor tant Notice about Payment, and all other documents such as the terms, conditions, notices, forms etc. contained in this catalogue, announced by the auctioneer or provided at the sales room, shall be exercised by our company.

é&#x152;&#x201E;硨ĺ&#x2C6;&#x2014;ć&#x2013;šćł&#x2022;äš&#x2039;說ć&#x2DC;&#x17D; EXPLANATION OF CATALOGUING PRACTICE

äż?ĺ&#x2C6;ŠéŚ&#x2122;港ć&#x2039;?賣ĺ&#x153;¨ĺ?&#x2014;ĺ§&#x201D;č¨&#x2014;ć&#x2039;?賣ĺ&#x201C; 中ç&#x161;&#x201E;ćŹ&#x160;ç&#x203A;&#x160;

äż?ĺ&#x2C6;ŠéŚ&#x2122;港ć&#x2039;?賣ĺ?Żč&#x192;˝ä¸?ć&#x2122;&#x201A;¸š ć&#x2C6;&#x2013; é&#x2122;&#x201E; ĺ&#x2026;Źĺ?¸é&#x192;¨ ć&#x2C6;&#x2013;(é&#x192;¨ć&#x201C; ć&#x153;&#x2030;äš&#x2039;ć&#x2039;?賣ĺ&#x201C; ă&#x20AC;&#x201A;芲ç­&#x2030;ć&#x2039;?賣ĺ&#x201C; ĺ&#x153;¨ é&#x152;&#x201E;中ç&#x161;&#x201E;ć&#x2039;?賣硨č&#x2122;&#x; ć&#x153;&#x2030; Î&#x201D; č&#x2122;&#x;ďź&#x152;䝼šč­&#x2DC;ĺ&#x2C6;Ľă&#x20AC;&#x201A;äż?ĺ&#x2C6;ŠéŚ&#x2122;港ć&#x2039;?賣ć&#x153;&#x2030;ć&#x2122;&#x201A;ĺ&#x153;¨ĺ?&#x2014; ĺ&#x2021;şÂ&#x20AC;ç&#x161;&#x201E;ć&#x2039;?賣ĺ&#x201C; 中ć&#x153;&#x2030; ÂŚç&#x161;&#x201E;貥 ďź&#x152; ĺ?Żč&#x192;˝ĺ&#x152;&#x2026;ć&#x2039;Źäż? ĺ&#x2021;şÂ&#x20AC;ĺ&#x192;šÂ&#x160;ć&#x2C6;&#x2013;䝼 ĺ?&#x2014; ć&#x2039;?賣ĺ&#x201C; Â&#x2026; é ?_ć&#x201D;Żäť&#x2DC; 人芲ç­&#x2030;ć&#x2039;?賣ĺ&#x201C; ć&#x2013;ź é&#x152;&#x201E;中 ć&#x2039;?賣硨č&#x2122;&#x; ć&#x153;&#x2030;â&#x2013;Ąč&#x2122;&#x;䝼šč­&#x2DC;ĺ&#x2C6;Ľă&#x20AC;&#x201A; č&#x2039;Ľäż?ĺ&#x2C6;ŠéŚ&#x2122;港ć&#x2039;?賣ĺ&#x153;¨ é&#x152;&#x201E;中ç&#x161;&#x201E;ćŻ?ä¸&#x20AC;Uć&#x2039;?賣ĺ&#x201C; ĺ?&#x2021;ć&#x153;&#x2030;jć&#x201C; ć&#x153;&#x2030;ć&#x2C6;&#x2013;貥 ďź&#x152;ĺ&#x2030;&#x2021;äż?ĺ&#x2C6;ŠéŚ&#x2122;港 ć&#x2039;?賣ĺ°&#x2021;ä¸?ĺ&#x153;¨ćŻ?ä¸&#x20AC;Uć&#x2039;?賣ĺ&#x201C; ä¸&#x160;珌č&#x2122;&#x;ďź&#x152;ä˝&#x2020;ĺ°&#x2021;ć&#x2013;ź é&#x152;&#x201E;ç&#x161;&#x201E;ĺ&#x2030;?é&#x192;¨ äť˝)ć&#x2DC;&#x17D; ă&#x20AC;&#x201A;

POLY AUCTION (HONG KONG) INTEREST, IN PROPERTY CONSIGNED FOR AUCTION From time to time, Poly Auction (Hong Kong) may oďŹ&#x20AC;er a lot which it owns in whole or in part. Such property is identiďŹ ed in the catalogue with the symbol Î&#x201D; next to the lot number.

On occasion, Poly Auction (Hong Kong) has a direct ďŹ nancial interest in lots consigned for sale which may include guaranteeing a minimum price or making an advance to the consignor that is secured solely by consigned property.

Such property is identified in the catalogue by the symbol â&#x2013;Ą next to the lot number. ďŹ&#x201D;is symbol will be used both in cases where Poly Auction (Hong Kong) holds the financial interest on its own, and in cases where Poly Auction (Hong Kong) hasfinanced all or a part of such interest through a third party. Such third parties generally beneďŹ t ďŹ nancially if a guaranteed lot is sold successfully and may incur a loss if the sale is not successful. ďŹ&#x201D;e ďŹ nancing oďŹ&#x20AC;ered by a third party may be in the form of an irrevocable bid provided by that third party. Where Poly Auction (Hong Kong) has an ownership or ďŹ nancial interest in every lot in the catalogue, Poly Auction (Hong Kong) will not designate each lot with a symbol, but will state its interest at the front of the catalogue.

ć&#x2030;&#x20AC;ć&#x153;&#x2030;é&#x2021;?庌ç&#x161;&#x2020;ç&#x201A;şç´&#x201E;ć&#x2022;¸ĺ?&#x160;ç&#x2039;&#x20AC;ćł ĺ ąĺ&#x2018;&#x160;

ć&#x2039;?賣中ć&#x2030;&#x20AC;ĺ&#x2021;şÂ&#x20AC;ç&#x161;&#x201E;ć&#x2039;?賣ĺ&#x201C; ç&#x161;&#x201E;ç&#x2039;&#x20AC;ćł ĺ?Żĺ?&#x2014;[\ĺ&#x203A; ]ĺŚ&#x201A;ć&#x2122;&#x201A;^ă&#x20AC; _ĺ&#x2030;? ç&#x161;&#x201E;Ă?Ă?ă&#x20AC; 俎Ă&#x201C;ă&#x20AC; `俎ĺ?&#x160;@Ă?ç­&#x2030;ĂŚ?č&#x20AC;&#x152;ć&#x153;&#x2030;>=<Â&#x2122;ă&#x20AC;&#x201A;~¸ šç&#x161;&#x201E;ç&#x2039;&#x20AC;ćł Â¨ĺ&#x2018;&#x160;ĺ?&#x160;ýãďź&#x152;ç&#x201A;şć&#x2013;šäžżč˛ˇĺŽśä¸ŚĂ&#x2039;Â&#x2026;Âş Â&#x2026;ç&#x201D;¨ă&#x20AC;&#x201A;ç&#x2039;&#x20AC;ćł Â¨ĺ&#x2018;&#x160;ĺ?&#x160;ýã r ç&#x161;&#x201E;Ă&#x17E;富 ćł&#x2022;ä˝&#x2020;示Â&#x2021; 䝼Â?Â?ć&#x2039;?賣ĺ&#x201C; ć&#x2030;&#x20AC;ć&#x153;&#x2030;çźşÂ?ă&#x20AC; 俎Ă&#x201C;ć&#x2C6;&#x2013;Ă­Ă&#x2013;ć&#x192;&#x2026;ćł ă&#x20AC;&#x201A;ĂŠ ä¸?č&#x192;˝ 䝣ç&#x201D;ąé&#x2013;Łä¸&#x2039;Ă&#x2C6;躍Â&#x17D; Â&#x2018;ć&#x2039;?賣ĺ&#x201C; ć&#x2C6;&#x2013;é&#x2013;Łä¸&#x2039;č&#x2021;ŞčĄ&#x152;ÂŹć&#x2039;?賣ĺ&#x201C; |ćą&#x201A;ç&#x161;&#x201E;ĺ°&#x2C6;漭ć&#x201E;?Âąă&#x20AC;&#x201A;ć&#x2039;?賣ĺ&#x201C; ĺ?&#x2021; 䝼ć&#x2039;?賣ć&#x2122;&#x201A;ç&#x161;&#x201E;â&#x20AC;&#x153;eç&#x2039;&#x20AC;â&#x20AC;?ĺ&#x2021;şÂ&#x20AC;ä¸&#x201D;äż?ĺ&#x2C6;ŠéŚ&#x2122;港ć&#x2039;?賣ĺ°?ć&#x2013;źć&#x2039;?賣ĺ&#x201C; ç&#x161;&#x201E;ç&#x2039;&#x20AC; ćł ä¸?Â&#x192;äťťä˝&#x2022;)ć&#x2DC;&#x17D;ć&#x2C6;&#x2013;äż?č­&#x2030;ă&#x20AC;&#x201A; 芳細ç&#x161;&#x201E;ć&#x2039;?賣ĺ&#x201C; ĺ&#x201C; ç&#x2039;&#x20AC;ćł čŤ&#x2039;ĺ?&#x192;Ă&#x152;ĺ&#x201C; ¨ĺ&#x2018;&#x160;

ALL MEASUREMENTS ARE APPROXIMATES AND CONDITION REPORTS ďŹ&#x201D;e condition of lots sold in our auctions can vary widely due to factors such as age, previous damage, restoration, repair and wear tear. Condition reports and grades are provided free of charge as convenience to our buyers and are for guidance only. ďŹ&#x201D;ey oďŹ&#x20AC;er our honest opinion but they may not refer to all faults, restoration, alteration or adaptation. ďŹ&#x201D;ey are not an alternative to examinming a lot in person or taking your own professional advice. Lots are sold "as is," in the condition they are in at the time of the sale, without any representation or warranty as to condition by Poly Auction (Hong Kong) or by the seller.

For more details, please refer to the Condition Report for each lot.

ć&#x153;Źç&#x203A;Žé&#x152;&#x201E;ć&#x17D;Ąç&#x201D;¨äš&#x2039;貨嚣ĺ&#x2026;&#x152;ć?&#x203A;ç&#x17D;&#x2021;

7.8 港Â? =1 Â? ć&#x153;Ź é&#x152;&#x201E;中y示ç&#x161;&#x201E;Â? ­Ă&#x2122;Â&#x20AC;ć&#x2DC;Ż;ć&#x201C;&#x161; é&#x152;&#x201E;äť&#x2DC;ĺ?°ć&#x2122;&#x201A;ç&#x161;&#x201E;­Ă&#x2122;Â&#x20AC;Â&#x192; ĺŽ&#x161;ďź&#x152;ĺ?Żč&#x192;˝ ć&#x2039;?賣ç&#x2022;śÂ&#x201A;­Ă&#x2122;Â&#x20AC;ć&#x153;&#x2030;Ăłĺ&#x2C6;Ľă&#x20AC;&#x201A;獜ć&#x160;&#x2022;Ă´čŤ&#x2039;注ć&#x201E;?ďź&#x152;ć&#x2030;&#x20AC;ć&#x153;&#x2030; Â?ĺ&#x201C; ç&#x161;&#x201E;ÂŽĺ&#x192;šĺ?&#x2021;ć&#x2DC;Ż[Â&#x192;ĺ&#x2030;?Â&#x201E;ĺŽ&#x161;ďź&#x152;丌é?&#x17E;ä¸&#x20AC;ć&#x2C6;?ä¸?<ďź&#x152;ć&#x2039;?賣ć&#x2122;&#x201A;ĺ?Żč&#x192;˝ ć&#x153;&#x192;Â&#x2026;ĺ&#x2021;şĂ­Ă&#x2013;ă&#x20AC;&#x201A;

CATALOGUE EXCHANGE RATE HK$7.8 = US$1 ďŹ&#x201D;e rate of exchange was established at the latest practical date prior to the printing of the catalogue and may therefore have changed by the time of the sale. Bidders should bear in mind that estimates are prepared well in advance of the sale and are not deďŹ nitive. ďŹ&#x201D;ey are subject to revision.

ç&#x203A;Žé&#x152;&#x201E;硨ĺ&#x2C6;&#x2014;ć&#x2013;šćł&#x2022;äš&#x2039;說ć&#x2DC;&#x17D; ć&#x153;&#x2030;é&#x2014;&#x153;ç&#x203A;¸ç&#x2030;&#x2021; ă&#x20AC; ĺ&#x153;&#x2013;ç&#x2022;Ť ă&#x20AC; ĺ?°ĺ&#x2C6;ˇĺ&#x201C; ĺ?&#x160;垎ĺ&#x17E;&#x2039;ć&#x203A;¸ç&#x2022;Ťäš&#x2039;čŚ?ĺŽ&#x161;

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EXPLANATION OF CATALOGUING PRACTICE For Pictures, Drawings, Prints and Miniatures Terms used in this catalogue have the meanings ascribed to them below. Please note that all statements in this catalogue as to authorship are made subject to the provisions of the Conditions of Business and Limited Warranty.

Buyers are advised to inspect the property themselves.

Written condition reports are usually available on request. * Name(s) or Recognised Designation of an Artist without any QualiďŹ cation In Poly Auction (Hong Kong)'s opinion a work by the artist. * â&#x20AC;&#x153;Attributed to ...â&#x20AC;?

In Poly Auction (Hong Kong)'s qualiďŹ ed opinion probably a work by the artist in whole or in part. * â&#x20AC;&#x153;Studio of ...â&#x20AC;?/ â&#x20AC;&#x153;Workshop of ...â&#x20AC;?

In Poly Auction (Hong Kong)'s qualified opinion a work executed in the studio or workshop of the artist, possibly under his supervision. * â&#x20AC;&#x153;Circle of ...â&#x20AC;?

In Poly Auction (Hong Kong)'s qualiďŹ ed opinion a work of the period of the artist and showing his inďŹ&#x201A;uence. * â&#x20AC;&#x153;Follower of ...â&#x20AC;?

In Poly Auction (Hong Kong)'s qualified opinion a work executed in the artist's style but not necessarily by a pupil. * â&#x20AC;&#x153;Manner of ...â&#x20AC;?

In Poly Auction (Hong Kong)'s qualified opinion a work executed in the artist's style but of a later date. * â&#x20AC;&#x153;After ...â&#x20AC;?

In Poly Auction (Hong Kong) 's qualiďŹ ed opinion a copy (of any date) of a work of theartist. * â&#x20AC;&#x153;Signed ...â&#x20AC;?/â&#x20AC;&#x153;Dated ...â&#x20AC;?/â&#x20AC;&#x153;Inscribed ...â&#x20AC;?

In Poly Auction (Hong Kong) 's qualiďŹ ed opinion the work has been signed/dated/inscribed by the artist. * â&#x20AC;&#x153;With signature ...â&#x20AC;?/ â&#x20AC;&#x153;With inscription...â&#x20AC;?/ In Poly Auction (Hong Kong) 's qualified opinion the signature/inscription appears to be by a hand other than that of the artist. * â&#x20AC;&#x153;With date ...â&#x20AC;?

In Poly Auction (Hong Kong)'s qualiďŹ ed opinion the date on the item was not executed on that date. * ďŹ&#x201D;is term and its deďŹ nition in this Explanation of Cataloguing Practice are a qualified statement as to authorship.

While the use of this term is based upon careful study and represents the opinion of specialists, Poly Auction (Hong Kong) and the consignor assume no risk, liability and responsibility for the authenticity of authorship of any lot in this catalogue described by this term, and the Limited Warranty shall not be available with respect to lots described using this term.

業務規則

第一章 總則 第一條

¥另有¦定 ，保利香港拍賣有限公司 為賣家之代理人。 拍賣品之成§ ¦則為賣家 買家之^的 ¦。本規則、 於圖錄或由拍賣 公 或於拍賣會場以通告形式¸¹之所 有 款、 件及通知均²成賣家、買家及 / 或保利香港 拍賣有限公司 為拍賣代理之協定 款。

第二條 定義及釋義

( 一 ) 本規則É 款內，下列 有以下含 ： (1)“本公司”º保利香港拍賣有限公司 ; (2)“賣家”º 本公司業務規則規定¨©內拍賣品的自然 人、法人或ô 骫。本規則中¥非另有說明或;據文 ¬®需要，賣家均包括賣家的代理人 ( 不包括本公司 )、þ¯ °行人或þ-代理人± (3)“競投人”º以任何方式̲、 出或³´競投之任何人 µ、公司、法¶或·¸。本規則中，¥非另有說明或;據文 ¬®需要，競投人均包括競投人的代理人± (4)“買家”º在本公司舉辦的拍賣活動中，拍賣 所¦¹之 â競投價或要¦之競投人包括以代理人身份競投之人µ 之 人± (5)“買家須支付之佣金”º買家;據本規則所 » 按落槌 價須向本公司支付之佣金± (6)“拍賣品”º賣家 本公司進行拍賣及於拍賣會上被拍 賣的物品，º º任何圖錄內編有任何編號而加以說明的物 品± (7)“拍賣 ”º本公司通告公 的7式進行拍賣§»之 。 若公 的¼R O ¼R拍賣活動實¢ O不一致，則以拍 賣活動實¢¼R之 為ª± (8)“拍賣成§ ”º在本公司舉辦的拍賣活動中拍賣 以落 槌或ô以 公¼表示買定的方式 §任何拍賣品½成§ »的 O± (9)“拍賣 ”º本公司º定主°某場拍賣的人員± (10)“落槌價”º拍賣 落槌'定將拍賣品 予買家的價 ， 或若為拍賣會 §»，則為協定出 價± (11)“出 所 款U¾¿”º支付賣家的款U¾¿，該¾¿為 落槌價ÀÁ按 計算的佣金、ÉU»用及賣家應支付本公 司的 款U 的ÿ ; (12) “Ä買價款” º買家因Ä買拍賣品而應支付的包括落槌價、 (部佣金。應由買家支付的 éÉU»用以及因買家不Å行 務而應當支付的所有»用在內的V ± (13)“買家 責的ÉU»用”º 本公司出 拍賣品 關的 支出 »用，包括但不限於本公司對拍賣品Ä買保£、包 、 Æ、Çñ、保È、買家¿ 要求的有關任何拍賣品之É´、 í查、查詢或Ê定之»用或向˦買家ÌÍ之¼支、法律» 用等± (14)“保Î價”º賣家 本公司 定的且不公¼之拍賣品之 價± (15)“®價”º在拍賣品圖錄或 ûü說明文Ï之 y明 的拍賣品®計 價，不包括買家須支付之內佣金± (16)“Çñ»”º買家按本規則規定應向本公司支付的Çñ »用。 ( Ð ) 在本規則 款中，;據上下文 ，·Ñ 包括 Ñ ， 之 然。

第三條 適用範圍

Ò參加本公司ª«的拍賣活動的當©人É方，包括賣家、競 投人、買家 關É方 ( 包括但不限於賣家、競投人、買 家或買家的代理人 )，均應s為Õ(¦受本規則 款的¦定， 受本規則¦Ó，在本公司ª«的拍賣活動中遵守本規則的規 定，Ô有本規則規定的 利，承擔本規則規定的 務。如 "協定 本規則不一致的部 ，以 "協定為ª。 在本公司ª«的拍賣活動中參 競投的競投人，無論是自己 È自出Õ或ô由代理人出Õ競投，無論是以在拍賣活動中舉 Ö競投，×是以 競投、 Ø或任何 方式競投，均被 s為Õ(¦受本規則。

參加本公司ª«的拍賣活動的當©人É方之^Ù 的É\Ú ，均應按 本規則的¦定加以解'。

第四條 特別提示

Ò參加本公司拍賣活動的競投人 買家應仔細閱讀並遵守 本規則。競投人及 / 或買家應¬別仔細閱讀本規則所 之本 公司之責任及限制、~責 款。競投人及 / 或 代理人有責 任È自審看拍賣品à物，並對自己競投拍賣品的行為承擔法 律責任。 在本公司舉辦的拍賣活動中，競投人的應價 拍賣 落槌或 ô以 公¼表示買定的方式 §時， 表明關於拍賣品的 買賣 同關Û已 法 Ü，該競投人 成為該拍賣品的買家。 本公司、賣家及買家應承§拍賣品已出 、成§的©實，並Ô 有法律規定及本規則¦定的 利，承擔法律規定 本規則¦ 定的 務。任何一方不Å行 務的均應承擔 應的法律責 任。本公司可以通Ò在拍賣會場ÝÞ公告或ô通Ò拍賣 在 拍賣會上ë 的方式對本規則進行修改。

第二章 關於賣家 第五條 委託程序

賣家 本公司拍賣 物品時： ( 一 ) 賣家若為自然人， 須ß Ù出附有 à的身份證 明文件 ( 如áâ身份證或ã ) 並 本公司vä 拍賣 同± ( Ð ) 賣家若為法人或 ª«的，應°有Ü å登記文件、 æç證明文件或ô 法的è 證明文件，並 本公司v ä 拍賣 同± ( é ) 賣家 本公司vä 拍賣 同時， 自動è 本公 司對該物品自行製 à、圖示，圖錄或 é形式的æê 製品。

第六條 賣家之代理人

代理賣家 本公司拍賣物品的，應向本公司出 關 證明文件。包括： ( 一 ) 若為自然人的， 須°有有Ü身份證明± ( Ð ) 賣家的代理人若為法人或ô ª«的，須°有有Ü å登記文件、æç證明文件± ( é ) 法+式ê出的è 。本公司有 對上 ë 以 法的方式進行 查。

第七條 賣家之保證

賣家¬ 本公司拍賣的拍賣品不可³µ 向本公司及 買家保證如下： ( 一 ) 對該拍賣品擁有ì對的所有 或Ô有 法的處 ， 對該拍賣品的拍賣不會íî任何ïé方的 法 ( 包括 j )， 不Ë 關法律、法規的規定± ( Ð ) 已ð 所知，¬該拍賣品的IÀ 瑕疵向本公司進 行r("、詳ð及õ 的ñ露 說明，並以 "形式通知本 公司，不ñ在任何òó或ô²之處 ; 若 品為mn及op， 人須詳ðñ露包括但不限於包 x、yz、 Ïw、m 上等ñ在的缺陷或瑕疵。 ( é ) 若 拍品由 進口香港，賣家應保證符 IÀ 法律，並且進出口手õÕ成並以 "形式通知本公司 ; ( ö ) 若 品為受限制物品， 人須 保拍賣品不 ÷任 何香港法 ( 包括ø公ùú 及£ û、øü物 ý( û及ø保ãþÿ~動植物物\ û等 )，並 保 及向本公司ñ露 有依 香港法 規定之任何Ö 資 或 可而È有、處3或出 拍賣品。 人保證，如本公 司需要向有關 ² 出¿ 的Ö 或 可 請方可拍賣、 展示、處3或È有拍賣品，會在拍賣舉行不a於}½ 前 以 "告知。 ( | ) 賣家保證 拍品是7品，同時賣家保證： (a) 拍品不是以下物品的{品： (i) 若賣家Ê 拍品是某/術家、 ô或 -[之 品 或-品的Ø， 該/術家、 ô或 -[之 品或-品± (ii) 若賣家Ê 拍品是某時O或某文 製 的 品，

該時O或該文 製 之 品± (iii) 若賣家Ê 拍品I自某IÀ的Ø， 為該IÀ之 品或-品±或 (iv) 若賣家Ê 拍品Ñ Ò或以某¾\、Ò+或手法製 ç、加¾或修Ó等， Ò該¾\、Ò+或手法的 品或-品。 (b) ¬鐘錶 珠寶而W，¥r以上ï 5(a) 款¸到的保證， 賣家進一步保證， 拍品的 是按 賣家Ê 的製 Ò +而製 的，是由賣家Ê 的物料 材料而²成的，]J未 Ò賣家Ê 的修Ó¾\以 的 修Ó¾\。 (c) ¬寶 而W，¥r以上ï 5(a) 款¸到的保證，賣家進 一步保證， 拍品J未 Ò賣家Ê 的 ¾\以 的 ¾\。 ( ^ ) 如賣家Ë 任何上 保證，賣家同意Õ(_`本公司 及è或買家因Ç而@致公司及è或買家?受任何Ï>、»用 ¼支或支出。

第八條 保留價

¥本公司 賣家¦定無保Î價的拍賣品 ，所有拍賣品均 有保Î價。保Î價由本公司 賣家通Ò協[ " 定。保Î 價Ñ 一 =方 定， Ø改須©_< 對方同意。 賣家 è 之拍賣y的未成§之 ，拍賣方有 以 保Î價在該 拍賣會 出 ，賣家須向拍賣方支付佣金。在任何情況下， 本公司不對某一拍賣品在本公司舉辦的拍賣會中未½保Î價 不成§而承擔任何責任。

第九條 本公司的決定權

本公司對下列©:擁有Õ(的'定 ： ( 一 ) 通Ò拍賣品圖錄及 / 或øù.ú及 / 或 é ú對任 何拍賣品ê任何內-說明及 / 或ý價± ( Ð ) 是ß應<詢任何專家意±± ( é ) 拍賣品在圖錄中,圖、拍賣品展+及 é形式的拍賣 品ëì，*'活動中的ý&及所應支付»用的yõ± ( ö ) 某拍賣品是ߤ 本公司拍賣± ( | ) 拍賣 O、拍賣 、拍賣 件及拍賣方式等©:。

第十條 未上拍拍賣品

賣家 本公司vä 拍賣 同且將拍賣品§付本公司 ， 若因任何à因致2本公司§為某拍賣品不¤ 由本公司拍賣 的，則賣家應自本公司Ù出通知之 %é$ 內 ´該拍賣 品 ( 包 及# 等»用自 )，本公司 賣家之^的 拍 賣 同自賣家 該拍賣品之 解¥。若拍賣人未在上 O 限內 "拍賣品，則本公司 賣家之^的 拍賣 同自上 O限!{之 告解¥。若賣家在 拍賣 同解¥ A 內B未 "拍賣品，本公司有 P Çñ»、保£»及 理支出，本公司 有 以本公司§為 理的方式處3該 拍賣品，處3所 在C¥本公司因Ç- 之(部»用 ，若 有Ã款，由賣家自行 ´。

第十一條 拍賣中止

如出e下列情況之一，本公司有 在實¢拍賣前的任何時^ 中Æ任何拍賣品的拍賣活動： ( 一 ) 本公司對拍賣品的D 或Þ實«°有 ± ( Ð ) ïé方對拍賣品的D 或Þ實«°有 且能E¸¹ 所依據的 關證據材料，並按 本公司規定§付擔保 金，同時F意對中Æ拍賣活動所 %的法律 G及(部Ï> 承擔 應責任± ( é ) 對賣家所 的說明或對本規則ïA 所 賣家保證的 õ «°有 ± ( ö ) 有證據表明賣家已 Ë 或將要Ë 本規則的任何 款; ( | ) 本公司§為應當中Æ的 任何à因 ; ( ^ ) 無論何\H致拍賣中Æ，如本公司 知賣家I 之拍品 J及 或 Ú 時，本公司有 K不予辦理L 手õ， MÚ 解' 予辦理 關手õ。

第十二條 賣家撤回拍賣品

賣家在拍賣 前任何時^，均可向本公司Ù出 "通知，³

´ 拍賣品。但³´拍賣品時，若該拍賣品已列N圖錄或 éëì品已¼R印ä，則賣家應支付 當於該拍賣品保Î價 之O 之Ð$的款U及 éÉU»用。如圖錄或任何 éë ì品尚未印ä，]需支付 當於該拍賣品保Î價之O 之$ 的款U及 éÉU»用。因賣家³´拍賣品而 %的任何Ú 或PQ均由賣家自行承擔， 本公司無關。

第十三條 自動受保

¥賣家另有 "º示 ，在賣家 本公司RS 拍賣 同 並將拍賣品§付本公司 ， 所有拍賣品將自動受保於本公司 的保£，保£金¿以本公司 賣家在 拍賣 同中 定的 保Î價為õ ( 無保Î價的，以該拍賣品的¦定的保£金¿為 õ。íÖ拍賣保Î價的，以該拍賣品à保Î價為õ )。Ç保£ 金¿ ¤用於保£ PQ，並非本公司對該拍賣品價值的保 證或擔保，]不意Tj該拍賣品由本公司拍賣， 可

同於該保£金¿之款U。

第十四條 保險費

拍賣成§ ，¥非賣家 本公司另有¦定，賣家應支付 當 於落槌價O 之一的保£»。如拍賣品未成§，賣家]應支 付 當於保Î價O 之一的保£»。

第十五條 保險期間

如G拍賣品拍賣成§，保£O限 拍賣成§ %ïé$ ( 含成§ ) UÆ或買家 拍賣品之 UÆ ( 以Ðô中> Vô為õ )。如G拍賣品拍賣未能成§，則保£O限 本公 司Ù出 ´拍賣品的通知之 %é$ !{為Æ。

第十六條 賣家安排保險

如賣家以 "形式告知本公司不需投保 拍賣品，則 £由 賣家自行承擔。同時，賣家×應 時承擔以下責任： ( 一 ) 對 任何 利人¬拍賣品的WÏ、X>向本公司¸ 出的PQ或YZê出Q`± ( Ð ) Q`本公司及 / 或任何 方因任何à因ç成拍賣品W Ï、X>等所d受的(部Ï>及所支出的(部»用。 ( é ) 將本 所 的Q`規定通知該拍賣品的任何承保人。

第十七條 保險免責

因自然@Ï、e有瑕疵、內在或f在缺陷、物:本身< ，自 g、自 、h 、jk、lÿ、mn、op、=q ( qr或qs ) < 、t*或s*u<或 éw<à因以及因 x、yz、 Ú、 對行為、 、 活動、 <、 ¾、 會 等不可 及 ¡及 ¡« 對拍賣品ç成的任何 WÏ、X>，以及由於任何à因ç成的圖 或 、

、g 、支 、 、,å、 頭或n 附 物的WÏ、X>， 不在保£理Q¨©之內，上 有關 £須由賣家承擔。

第十八條 保險賠償

Ò 因本公司為拍賣品所Ä保£承保¨©內的©件或 î所 H致的拍賣品WÏ、X>，應;據香港有關保£的法律 規 定處理。本公司在向保£公司進行理Q並 保£Q` ， 將保£Q款C¥本公司»用 ( 佣金¥ ) 的Ã款支付給賣家。

第十九條 競投禁止

賣家不 競投自己 本公司拍賣的物品]不 人 代為競投。 本公司有 代賣家以不 Ò保Î價之價 參Ì 競投。若Ë 本 規定，賣家應自行承擔 應之法律責任， 並Q`因Ç給本公司ç成的(部Ï>。

第二十條 佣金及費用

¥賣家 本公司另有¦定 ，賣家è 本公司按落槌價之O 之$C¥佣金，同時C¥ éÉU»用。 È本公司是賣 家的代理人，但賣家同意本公司可;據本規則ïö$ 的 規定向買家P 佣金及 éÉU»用。

第二十一條 未成交手續費

如G某拍賣品的競投價 於保Î價而未能成§，則賣家è 本公司向 P 未拍出手õ»及 éÉU»用。

第二十二條 出售所得款項淨額支付

如買家已按本規則ïö$ 的規定向本公司付 (部Ä買 價款，則本公司應自拍賣成§ %é$| 將出 所 款 U¾¿以港 方式支付賣家。

第二十三條 延遲付款

如本規則ï|$一 規定的付款O限!{，本公司B未P到 買家的(部Ä買價款，則本公司將在P到買家支付的(部Ä 買價款之 %A½¾ 內將出 所 款U¾¿支付賣家。

第二十四條 賣家稅項

賣家所 的出 所 款U¾¿應向 ¹ ，如有關法律規 定本公司有代C代 務的，本公司將依 法律規定°行， 賣家應協助辦理所有手õ，並承擔 應 »。

第二十五條 協助收取拖欠款項

賣家在 本公司拍賣 物品的同時，被s為è 本公司有 代賣家向買家ÌP 應 價款。如買家在拍賣成§ ( 含成§ ) %A 內未向本公司付 (部Ä買價款，本公司 ¥有 按 本規則ï|$ 之¦定向買家ÌP 應付的 佣金及 ÉU»用 ， 有 在本公司§為實¢可行的情 況下， ¤當­ ( 包括但不限於通Ò法律 解' ) 協 助賣家向買家P 的款U。 上 ¦定並不&¥賣家È自或 任何ïé方向買家ÌP

應 款U的 利， 不 予本公司在任何情況下代賣家 向買家ÌP 應 價款的 務。本公司在任何情況下不應 因買家未能支付Ä買價款而向賣家承擔 應責任。

第二十六條 本公司有權決定

本公司有 ¦受賣家è ( 由賣家支付»用 ) 並s ú情況 '定下列©U： ( 一 ) 同意Ä買價款以¬®付款 件支付± ( Ð ) # 、 ñ及投保已出 的拍賣品± ( é ) ;據本規則有關 款，解'買家¸出的PQ或賣家¸ 出的PQ± ( ö ) 要­ P 買家 賣家的款U。

第二十七條 拍賣品未能成交

( 一 ) 拍賣 §» 由本公司 賣家重ø[ 定 拍賣品的保Î價並代為 出 ，本公司支付賣家不a於以ø的保Î價出 時應支付的 出 所 款U¾¿。 ( Ð ) 重ø上拍 佣金及»用yõ以à 拍賣 同¦定為õ。 ( é ) ´拍品 賣家應自P到本公司 通知之 %é$ 內 ´該拍賣品 ( 包 及# »用自 )，並向本公司支付未拍出手õ»及 ÉU»用。 Ò上 O限，本公司有 P Çñ»、保£ »及 é 理支出，本公司 有 以公¼拍賣或 出 方 式按本公司§為 ¤的 件出 該拍賣品，並有 J出 所 款U¾¿中C¥ï一 拍賣中賣家應支付的未拍出手õ» 及 ÉU»用及 拍賣該拍賣品的所有»用，將Ã款支 付賣家。

第二十八條 風險承擔

無論是未上拍或未能成§的拍賣品，賣家均應對 Ò本規 則規定O限未能 ´ 拍賣品而在該O限 所Ù 之一 £及»用自行承擔責任。自本公司向賣家Ù出 ´拍賣品 的通知之 ( 含通知 ) %ïé$ ，或自 人按本規則 ¦定 拍賣品之時 ( 以_到ô為õ )，未上拍或未能成§ 拍賣品的一 £及»用由賣家承擔。如賣家在本規則規定 O限內要求本公司協助 L´拍賣品並 本公司同意，拍賣 品自 ¼本公司º定 的一 £及»用由賣家承擔。 ¥非賣家¬別º明並預_支付保£»，本公司無 務對拍賣 品在 ¼本公司º定 予以投保。如賣家要求本公司協 助以 I、 或 通Òïé方的 Æ方式L´ 拍賣 品，一 本公司將拍賣品§付 I、 、 Æ部 、公司或 員 支 ，則s為本公司已L´該拍賣品，同時應s 為賣家已 該拍賣品。

第三章 關於競投人與買家 第二十九條 競投人及本公司有關出售拍賣品之責任

( 一 ) 本公司對É拍賣品之§知部 依&於賣家¸¹之資料， 本公司無法及不會¬拍賣品進行("ð職 查。競投人知悉 Ç©，並承擔 查及 拍賣品à物之責任，以2競投人{ 意 可能 之拍賣品。

( Ð ) 本公司出 之É拍賣品於出 前可¹競投人審看。競 投人及 / 或 代理人參 競投， s為競投人已在競投前( " 拍賣品，並{意拍賣品之狀況及 Ê 之õ «。 ( é ) 競投人 §ù[拍賣品年代久遠及\n¬®，意T拍 賣品並非ÕÎ無缺。所有拍賣品均以拍賣時之狀ð出 ( 無 論競投人是ß出Õ拍賣 )。狀況¨告或可於審看拍賣品時¸ ¹。圖錄Ê 及狀況¨告在若 情況下可用 拍賣品某些 瑕疵之參Ì。然而，競投人應注意拍賣品可能ñ在 在圖 錄或狀況¨告內並無明 º出之瑕疵。 ( ö ) ¸¹予競投人有關任何拍賣品之資料，包括任何預É 資料 ( 無論為 "或口 ) 及包括任何圖錄所 之資料、規 則或 ¨告、ý論或®值，該等資料並非©實之 ，而 是本公司所°有之意±之)明，該等資料可由本公司不時( 情'定修改。 ( | ) 本公司或賣家 無¬任何拍賣品是ß受任何 所限 或買家是ß已Ä買任何拍賣品之 Ù出任何)明或保證。 ( ^ ) 受本規則ïÐ$ ( 一 ) Ð$ ( | ) 所 ©U所 規限及本規則ïé$ 所 ¬定 ~所規限，本公司應基於 (1) 賣家向本公司¸¹的資料±(2) 學術及 術知識 ( 如有 )± 及 (3) 關專家¤¥¦¹之意±，以 理審uð*Ù表 ( 且 本規則中有關本公司 為拍賣代理的 款 符 ) 於圖 錄Ê 或狀況¨告之明示)明。

第三十條 對買家之責任豁免及限制

( 一 ) 如本公司s拍賣品為贋品，將落槌價 同買家佣金L ×予買家。 (Ð) 受本規則ïÐ$ 之©U所規限及受規則ïé$ (一) 及é$ ( | ) 所規限，本公司無須： (1) 對本公司向競投人以口 或 "¸¹之資料之任何 ò 或þÿ 責，無論是由於 或因 à因 致， 本規則 ïÐ$ ( ^ ) 所 ô則¥ ± (2) 向競投人 出任何擔保或保證，且賣家 本公司向買 家 出之明示保證以 之任何 示保證及規則均被&¥ ( 法律規定不可~¥之該等責任¥ )± (3) ¬本公司有關拍賣或有關出 任何拍賣品之任何©:之 行動或þÿ ( 無論是由於 或 à因 致 ) 向任何競投 人 責。 ( é ) ¥非本公司擁有出 之拍賣品，ß則無須¬賣家Ë 本規則而 責。 ( ö ) 在不æ?規則ïé$ ( Ð ) 之情況下，競投人向本公 司或賣家¸出之任何PQ以該拍賣品之落槌價 同買家佣 金為限。本公司或賣家在任何情況下均無須承擔買家任何

應而- 的Ï>。

第三十一條 拍賣品圖錄及其他說明

為便於競投人及賣家參加本公司舉辦的拍賣活動，本公司製 拍賣品圖錄，以文Ï及 / 或圖à的形式，對拍賣品之狀況 進行 要 。拍賣品圖錄中的文Ï、®價，圖à或 é形 式的æê製品 ëì品，˹競投人參Ì，並可於拍賣前修 R，不表明本公司對拍賣品的Þ實«、價值、 í、: 有無 缺陷等所 的擔保。

第三十二條 圖錄之不確定性

因印ä或åæ等 術à因ç成拍賣品在圖錄及 / 或 é任 何形式的圖示，æê製品 ëì品中的 í、î 、ï 、形 ð等 à物ñ在òóô，以à物為õ。本公司及 ¾ 人員 或 代理人對任何拍賣品用任何方式 ( 包括證 、圖錄、ö ÷投æ、øù ú等 ) 所 的ûü及ý價，均為參Ì«意±， 不²成對拍賣品的任何擔保。本公司及 ¾ 人員或 代理 人對上 之ûü及ý價中的不õ 或þÿ之處不承擔責任。

第三十三條 保留價及估價

Ò本公司拍賣品未y明或未y明無保Î價的，均 有保Î 價。保Î價一¡不â於本公司於拍賣前公 或刊Ù的拍賣前 ®價。如拍賣品未 保Î價，¥非已有競投，ß則拍賣 有 自行'定%拍價，但不 â於拍賣品的拍賣前 ® 價。 在任何情況下，本公司不對拍賣品在本公司舉辦的拍賣會中 未½保Î價不成§而承擔任何責任。若拍賣品競投價 於 保Î價，拍賣 有 自行'定以 於保Î價的價 出 拍賣 品。但在Ç\情況下，本公司向賣家支付之款U為按保Î價 出 拍賣品時賣家應可P 之Ñ¿。®價在拍賣 前>V時 ^®定並非 定之 價，不 有法律¦Ó 。任何®價不能

為拍賣品落槌價之預É，且本公司有 不時修R已 出之 ®價。

第三十四條 競投人之審看責任

競投人及 / 或 代理人有責任自行瞭解有關拍賣品的實¢狀 況並對自己競投某拍賣品的行為承擔法律責任。本公司¢重 £ ，競投人應在拍賣 前，以Ê定或 é方式È自審看 競投拍賣品之à物，自行¤¥該拍賣品是ß 本公司拍賣品 圖錄以及 é形式的æê製品 ëì品所Ê 符 ，而不 應依圖錄及æê製品 ëì品的Ê ê出'定。

第三十五條 競投人登記

競投人為½人的應在拍賣 前ß Ù出附有 à的身份 證明文件 ( 如áâ身份證或ã ) ¦ 並vä登記文件並¸ ¹e時§¨證明 ( 如公用©業©·或ª行 «· )±競投人 為公司或ô ª«的，應在拍賣 前ß有Ü的 å登記文 件、æç證明文件以及 法的è 證明文件¦ 並vä 登記文件， 競投號Ö。本公司可能要求競投人出示用 付款的ª行資料或 財 狀況證明。

第三十六條 競投號牌

本公司可;據不同拍賣 件及拍賣方式等任何情況，在拍賣 前公 辦理競投號Ö的 件 +式包括但不限於制定競 投人辦理競投號Ö的資 件。 本公司¢重¸示，競投號Ö是競投人參 e場競價的 一ß 證。競投人應¬®保È，不 將競投號Ö出¯ 人2用。一 °>，應S 以本公司§可的 "方式辦理±>手õ。 無論是ߦ受競投人的 ，Ò°競投號Öô在拍賣活動中 所實 的競投行為均s為競投號Ö登記人本人所為，競投人 應當對 行為承擔法律責任，¥非競投號Ö登記人本人已以 本公司§可的 "方式在本公司辦理r該競投號Ö的±> 手õ。

第三十七條 競投保證金

競投人參加本公司拍賣活動，應在 競投號Ö前§¹競投 保證金。競投保證金的Ñ¿由本公司在拍賣 前公 ，且本 公司有 À~競投保證金。若競投人未能Ä 拍賣品且對本 公司無任何 款，則該保證金在拍賣«Ó $ö½¾ 內 (¿無$²×競投人±若競投人成為買家，則本公司有 可 用該保證金 為支付拍賣品Ä買價款的款U。

第三十八條 本公司之選擇權

本公司有 情³ì任何人參加本公司舉辦的拍賣活動或進 N拍賣e場，或在拍賣會e場進行拍 、錄´、åê等活動。

第三十九條 異常情況緊急處理

在拍賣e場出e 的情況下，本公司有 ê出µ¶處理。 如拍賣e場出e任何Ú ，本公司有 協í解'。

第四十條 以當事人身份競投

¥非某競投人在拍賣 前向本公司出 "證明並 本公司 "§可，表明 身份是某競投人的代理人，ß則每 競投 人均被s為競投人本人。本公司 會向競投人P 款U。

第四十一條 委託競投

競投人應È自出Õ拍賣會。如不能È身出Õ或由代理人出 Õ，可 用 "形式 本公司代為競投或 Ø競投。本公 司有 '定是ߦ受上 。 本公司競投之競投人應在規定時^內 ( 不·於拍賣 前é½¾ ) 辦理 手õ，向本公司出 ¦¬的本公司 競投表 ，並應;據本規則規定同時§¹競投保證金。 本公司競投之競投人如需 · 競投，應不·於拍賣 前Ð$ö¸時 "通知本公司。

第四十二條 委託競投的競投結果

競投人 本公司代為競投的競投«G及 關法律責任由 競投人承擔。 競投人如在 競投表 中表示以 Ø等 時通%方式競 投，則應õ ¦ 時通%方式並¬®保È該 時通%¾ ， 在本公司受 競投O^，競投人應È自2用該 時通%¾ ， 一 °>或無法¹制該 時通%¾ ，應S 以本公司§可 的 "方式<Ø 競投表 中¦ 的 時通%方式。 在本公司受 競投O^會ð¤當º »¼競投人，而該 時

通%¾ 所ì½之競投資% ( 無論是ß競投人本人或競投 人的代理人ì½ )，均s為競投人本人所為，競投人應當對 行為承擔法律責任，¥非競投人本人已以本公司§可的 "方式<Ør 競投表 中¦ 的 時通%方式，本公司 有ì對 利對所有 Ø競投錄´ 保ñ。½¾ Ø競投

代表競投人同意 Ø被錄´。 但在任何情況下，如未能»¼，或在2用該 時通%¾ 的 競投中有任何 ò或þÿ，本公司均不 任何責任。

第四十三條 委託競投之免責

Ê於 競投是本公司為競投人¸¹的代為ì 競投資% 的~»¿務，本公司及 ¾ 人員對競投未成t或代理競投 Ò+中出e的任何 ò、þÿ、 、Ò>或無法代為競投 等不承擔任何責任。

第四十四條 委託在先原則

若}½或}½以上 本公司競投之競投人以 同 價 對同一拍賣品出價且 U拍賣品以該價 落槌成§，則 _ 將 競投表 À½本公司ô為該拍賣品的買家。

第四十五條 拍賣官之決定權

拍賣 對下列©U 有ì對'定 ： ( 一 ) ³ì或¦受任何競投± ( Ð ) 以 '定之方式進行拍賣± ( é ) 將任何拍賣品³´或 ¼拍賣或將任何}件或[件拍 賣品 Á拍賣± ( ö ) 如Â有出 或Ú 時，不論在拍賣之時或拍賣之 ，有 '定成t競投ô、是ßÃõ拍賣、 ·拍賣或將有Ú 的 拍賣品重ø拍賣± ( | ) 拍賣 可以在 §為 ¤的ÛÄ及競價ÅÆ下¼R及 進行競投，並有 代表賣家以競投或 õ競投方式或以´ 應 競投人的競投價而競投的方式，代賣家競投到g價的 金¿± ( ^ ) 理§為¤當之 行動。

第四十六條 不設保留價

¬不 保Î價的拍賣品，¥非已有競投，ß則拍賣 有 自 行Ç '定¼價。若在Ç價 下並無競投，拍賣 會自行Ç 將價 下ÈÃõ拍賣， 有競投人¼R競投，然 由 該競投價向上Ãõ拍賣。

第四十七條 影像顯示板及貨幣兌換顯示板

本公司為方便競投人，可能於拍賣中2用æê投¡或 形 式的1示É，所示內-˹參Ì。無論æê投¡或 形式 的1示É所示之Ñ¿、拍賣品編號、拍賣品圖à或參Ì Ê 金¿等資%均有可能出eòó，本公司對因Çòó而H致的 任何Ï>不承擔任何責任。

第四十八條 拍賣成交

â競投價 拍賣 落槌或ô以 公¼表示買定的方式 §時，該競投人競投成t， 表明該競投人成為拍賣品的 買家， 表明賣家 買家之^的拍賣 ¦之RS。

第四十九條 佣金及費用

競投人競投成t ， 成為該拍賣品的買家。買家應支付本 公司 當於落槌價O 之$ 的佣金，同時應支付 買家 責的ÉU»用。且本公司可;據本公司業務規則的規定向 賣家P 佣金及 賣家 責的ÉU»用。

第五十條 稅項

買家向本公司支付的所有款U均應是¾¿的，不 包括任何 物 、¿務 或ô Ë值 ( 不論是由香港或 Ì 所<P )。如有任何¤用於買家的 »，買家應;據e行

關法律規定自行 擔。

第五十一條 付款時間

拍賣成§ ，¥非另有¦定，ß則不論拍賣品之出口、進口或 可證之任何規定，買家應自拍賣成§ ( 含成§ ) % A 內向本公司付 Ä買價款並ý&¸ 拍賣品。若J及包 及# »用 Æ及保£»用、出 »等，買家需一並支付。

第五十二條 支付幣種

所有價款應以港 支付。如買家以港 以 的 支付，

應按買家 本公司¦定的Ê價Í算或按 本公司½¾之ª 行於買家付款 前一½¾ 公 的港 該 \的Ê價Í 算。本公司為將買家所支付之該\ ­Ù成港 所 致之 所有ª行手õ»、佣金或 »用，均由買家承擔。

第五十三條 所有權轉移

2本公司已將拍賣品§付給買家，買家B未 拍賣品之 所有 ， 買家付 Ä買價款及買家 付本公司的款U為 Æ。

第五十四條 風險轉移

競投成t ，拍賣品的 £於下列任何一\情形Ù ( 以 >VÙ O為õ ) 由買家自行承擔： ( 一 ) 買家¸ 所Ä拍賣品± ( Ð ) 買家向本公司支付有關拍賣品的(部Ä買價款± ( é ) 拍賣成§ ( 含成§ ) %A !{。

第五十五條 提取拍賣品

買家須在拍賣成§ ( 含成§ ) %é$ 內前Î本公司 ¨或本公司º定之 ¸ 所Ä買的拍賣品。買家須自 行 責於 £u 買家 為所Ä拍賣品Ä買保£。若買家 未能在拍賣成§ ( 含成§ ) %é$ 內¸ 拍賣品，則 ÏO 對該拍賣品的 關保È、# 、保£等»用均由買家 承擔，且買家應對 所Ä拍賣品承擔(部責任。ÏO ，

2該拍賣品B由本公司或 代理人代為保È，本公司及 ¾ 人員或 代理人對任何à因所致的該拍賣品的WÏ、X >，不承擔任何責任。

第五十六條 包裝及付運

本公司有 '定是ߦ受買家要求，¸¹代為包 及處理的 ¿務。如G本公司¾ 人員應買家要求代為包 及處理Ä買 的拍賣品，上 包 及處理Ë應s為本公司對買家¸¹的¿ 務，因ÇÙ 的任何 £及Ï>均由買家自 。在任何情況 下，本公司對因任何à因ç成的 或 、 、g 、支 、 、,å、 頭或n 附 物的ÏÐ、X>不 責任。 如買家要求本公司協助以 I、 或 Æ方式 所Ä 買的拍賣品 ( 包 及 、 Æ»用由買受人 擔 )，一 本 公司將拍賣品§付 I、 、 Æ部 、公司或 員 / 支 ²，則s為本公司已§付該拍賣品，同時應s為買家已 按7 +\ 該拍賣品，ÇÒ+中的 £由買家承擔，¥ 非買家¬別º明並 擔保£» ，在 I、 、 ÆÒ+ 中一¡不予投保。對於買家º定或本公司向買家*Ð的包 公司及 I、 、 Æ部 或公司所ç成的一 ò、þÿ、 ÏÐ或X>，本公司不承擔責任。

第五十七條 進出口及許可證

買家須自行 責 任何有關拍賣品進出口、þÿì\ 物 或 方"之 可證。未 任何所需之 可證或¶ò 該n 可證不可被s為買家 ·Ä買或¶·支付Ä買價款 之理由。本公司不承擔因不能¦¬或d§所需出口或進口 ·、 ·或文件所- 之任何責任。 如買家要求本公司代 請出口 可證，本公司則有 ¬Ç ¿務另行P ¿務»用。然而，本公司不保證出口 可證將 Ù 。本公司及賣家 無¬任何拍賣品是ß受進出口限制 或任何Å 出)明或保證。

第五十八條 未付款之補救方法

若買家未按 本規則規定或未按 本公司協 之任何付 款ý& ¿付款，本公司有 以下之一\或[\­ ： ( 一 ) 拍賣成§ ，若買家未在拍賣成§ ( 含成§ ) %A 內支付Ä買價款，於競投登記時支付的競投保證金不予L ×，同時×應按 本規則規定承擔 應責任±買家以同一競 投號Ö同時拍 [件拍賣品的，拍賣成§ 若買家未按 規 定時^支付任一拍賣品Ä買價款，則(部競投保證金不予L ×，同時×應按 本規則規定承擔 應責任± ( Ð ) 在拍賣成§ ( 含成§ ) %A 內，如買家未向本公 司付 (部Ä買價款，本公司有 ïé方 ²代為向買 家Ñ要 付的(部或部 Ä買價款± ( é ) 在拍賣成§ ( 含成§ ) %A 內，如買家B未 ¿ 支付Ä買價款，本公司有 自拍賣成§ ï %¬買家 未付款部 按 $Ò 之éP 利$， 買家付 (部 款U之 Æ，買家 本公司另有協 ô¥ ± ( ö ) 在本公司或 方投保、 "及Çñ拍賣品， £及

»用均由買家承擔± ( | ) 對買家¸%YZ或向ÓÔ ² 請í解，要求Q`本公 司因 ˦ç成的一 Ï>，包括但不限於因買家·付或³付 Ä買價款ç成的 ÕÏ>、法律»用、˦金以及ÏO利$。 ( ^ ) Î3同一買家在本公司投 的該件或任何 拍賣品， 以及因任何à因由本公司Ö有該買家的任何 財-或財 - 利，Î3O^Ù 的一 »用及 / 或 £均由買家承擔。 若買家未能在本公司º定時^內Å行 (部 關 務，則本 公司有 在向買家Ù出行2Î3 通知且買家在該通知Ù 出 é$ 內B未` 所有 付款U的情況下處 Î3物。 處 Î3物所 不 `買家應付本公司(部款U的，本公 司有 另行ÌP± ( A ) 本公司有ì對 情'定 ³µ或同意 人³µ§»， 並³ì該ÏO付款買家¸出的付款請求、¸ 請求，並保Î ÌP因³µ該ק»致2本公司所?受(部Ï>的 利± ( ) < 人同意，本公司可按 本規則規定 行拍 賣或以 方式出 該拍賣品，並由本公司 情'定®價及 保Î價。à買家¥應當支付ï一 拍賣中買家及賣家應當支 付的佣金及 É自 責的 ÉU»用並承擔 拍賣或 以 方式出 該拍賣品所有»用 ，若 行拍賣或以 方式出 該拍賣品所 的價款 於à拍賣價款，à買家應當 Ø ó¿± ( ) 將本公司在任何 §»中 付買家之款U µ買家 付本公司關於拍賣品之任何款U± ( $ ) 本公司可自行'定將買家支付的任何款U用於 `買 家 付本公司關於拍賣品或 §»之任何款U± ( $一 ) ³ì買家或 代理人將I 出的競投或在¦受 競 投前P 競投保證金± ( $Ð ) 向賣家Ù露買家之資料，以2賣家可展¼法律YZ， 以P´ 款，或¬買家˦ PÏîQ`及 P法律»用。

第五十九條 延期提取拍賣品之補救方法

若買家未能在拍賣成§ ( 含成§ ) %A 內¸ Ä 的拍賣品，則本公司有 以下之一\或[\­ ： ( 一 ) 將該拍賣品投保及 / 或Çñ在本公司或 方，由Ç Ù 的一 »用 ( 包括但不限於自拍賣成§ ( 含成§ ) %的ïé$一 %按競投人登記表 的規定計PÇñ»等 ) 及 / 或 £均由買家承擔。在買家如Ñ支付(部Ä買價款 ， 方可¸ 拍賣品 ( 包 及# »用、 Æ及保£»用、出 »等自行 擔 )± ( Ð ) 買家應對 Ò本規則規定O限未能¸ 關拍賣品 而在該O限!{ 所Ù 之一 £及»用自行承擔責任。 如買家自成§ (含成§ )%的é$ 內B未¸ 拍賣品的， 則本公司有 在通知買家 ，以公¼拍賣或 本公司§為 ¤的方式及 件出 該拍賣品，處3所 在C¥本公司因 Ç- 之(部Ï>、»用(包 及# »用、 Æ及保£»用、 出 »、Çñ»、公證»等 ) ，若有Ã款，則由買家自行 ´， 該Ã款不計利$，拍賣成§ }年尚未 ´的Ã款在C¥

關¼支 ( 包括法律»用 ) 由本公司ñN香港法Ú。

第六十條 有限保證

( 一 ) 本公司對買家¸¹之一¡保證：如本公司所出 之拍賣 品 被Ùe為Û品，;據本規則之 款，本公司將 ·該 §»，並將買家¬該拍賣品支付予本公司之落槌價 同買家 佣金，以৻之 L×予買家。 ¬Ç而W，;據本公司 理之意±，Û品ºÜ製品，ÝÞ 品 出處、à- 、 O、-出年Ñ、年O、文 或IÀ等É方"， 而上 ÉU之7 Ê 並無P錄於 錄內- ( ̲任何專 有 ß )。拍賣品之任何ÏW或任何nà之Óà品及 / 或修 改品 ( 包括重øáâ或在 上áâ )，不應s為Û品。 ã請注意如Ù 以下任何一\情況，本保證將不¤用： 錄內-乃;據學ô及專家於µ O ¤¥¦¹之意±， 或該 錄內-1示該等意±ñ在 ±或於µ O，證明 該拍賣品乃Û品之 一方法並非當時¤¥可用或§可或價 8â或用 不 實¢±或可能已對拍賣品ç成ÏÐ或可能 ( ; 據本公司 理之意± ) 已ä拍賣品å>價值之方法±或如; 據拍賣品之Ê ，該拍賣品並無å>任何重=價值。 ( Ð ) 本保證所規定之O限為 關拍賣 |年內，æç¸ ¹給買家之èÔ利 ，且不可u 任何ïé方。為能依據 本保證 P，買家 須 : 在P到任何H致買家:é拍賣品之Þê或 «之資料 一 ½ 內 "通知本公司 明拍賣品編號、Ä買該拍賣品之 O及被§為是Û品之理由±

將狀況 µ 予買家當 同，並能u ¬®所有 且自 µ O 並無出e任何ïé方 P之拍賣品L×予本公司。 ( é ) 有關çëìe代及當代/術、中 í以及中 í， 然 前學術î不- 對Çn別 出 實之說明，但本公司 保Î 情 按本保證但以拍賣 一年內為限 ·證實為 Û品之çëìe代及當代/術、中 í以及中 í拍賣 品之§»±已付之款U按本 規定：L×予買家，但買家 須在拍賣 %一年內向本公司¸¹證據 ( 按本 ï (Ð)、( ö ) 款規定的方式 )，證實該拍賣品為Û品± ( ö ) 本公司可 情'定 ~上 任何規定。本公司有 要 求買家P }份為本公司及買家=方¦¹之èS及行內§ 可專家之¨告，»用由買家承擔。本公司無須受買家出示之 任何¨告所規限，並保Î 利|求¿ 之專家意±，»用由 本公司自行承擔。 ( | ) 本有限保證不¤用於珠寶、鐘錶、尚品手袋、中西 m、 op及 ü品及ï品等拍賣n別。

第六十一條 特殊門類

( Ð ) 按任何法?、司法 ²、 、ª行、 務或 È ²要求，或;據任何¤用法律，向 或º定人ñ露¢$ ; ( é ) 關賣家、競投人、買家同意而ñ露¢$。

第六十四條 鑒定權

如G本公司§為需要，可以對拍賣品進行Ê定。Ê定«論 拍賣 同 明的拍賣品的狀況不符的，本公司有 要求 <Ø或ô解¥ 拍賣 同。

第六十五條 版權

賣家è 本公司對 本公司拍賣的任何拍賣品製 à、 圖示、圖錄或 形式的æê製品 ëì品，本公司Ô有上 à、圖示、圖錄或 形式的æê製品 ëì品的 。有 對 依法加以2用。未 本公司©_ "同意，買家及任何 人不 2用。本公司及賣家均並未 出拍賣品是ß受 所 限或買家是ß 拍賣品之任何 的 及保證。

第六十六條 免除責任

本公司 為賣家的代理人，對賣家或買家的任何˦行為不 承擔責任。在賣家或買家出e˦行為的情況下，本公司有 ;據自己的¤¥'定向賣家或買家ñ露另一方的 稱 ¨，2受到Ïî的一方 以通Ò法律YZ ÏîQ`。 但是，本公司在向賣家或買家ñ露該等資料之前，將 理步>通知將被ñ露資料的一方。 買家及賣家均需承擔§»所J及包括但不限於 Õ、法律、 務及«算等的 關責任，並需 §§»不ñ在=<或利

ÆÀ等不法行為。任何P、付款º示 須 ;，如因賣家 或買家È理不®而出e /\被-、款Ud,Ö等不可預 ±的情況，一 G 本公司無關。

( 一 ) 珠寶n拍賣品的狀況 通 會 於圖錄上，然而沒 有說明不代表該拍賣品沒有缺陷、瑕疵或未 處理。 1. 有 寶 ( 如ð寶 、ñ寶 、ò寶 及Énó 寶 ) 可 能 Ò 處理或改Í Ô，包括加 、上 及 ¡等。 些通 的方法已 為 ¢珠寶行業所§可，但是 Ò處理的 寶 的ô*可能會È 及è或在 需要¬®保õ。 2. 本公司不會為每件寶 拍賣品 請專業 ²Ê定¨告。如 某件拍賣品已 J ¢§可的寶 實 Ê定¨告，本 公司會於拍賣圖錄上詳細 明。因É實 2用方法 術 的ó ，對某寶 是ß Ò處理、處理的+*或處理是ß 有ö久«，÷可能°不同意±。本公司不會對É實 出 的Ê定¨告之õ «承擔責任。 3. 如Gø要求¸¹º定實 的Ê定¨告，請在拍賣 前 a 14 ½¾ ¿¸出要求，本公司將會代為 請Ê定¨告， 而 應Ê定»用需由ø承擔。 4. 某件寶 拍賣品的®價乃¬當¯已知悉之所有資料而 出，競投人應於拍賣前自行審看拍賣品或¬拍賣品ê詳ðr 解，競投人一 ê出競投， s為 ¦受該等拍賣品之(部 e狀。 5. 本公司¸q競投人注意，À自ÁÂ的寶 或ÃÄ，可能會 被某些 家ÅÆ進口。 ( Ð ) 鐘錶n拍賣品 1. 本公司已¬某鐘錶拍賣品所知的e時狀況 於拍賣圖 錄上，˹競投人參Ì。因[Ñ鐘錶在Ç前2用O內÷有被 修理、保õ等的 Ò，本公司不保證任何鐘錶的任何×部件 為à ，可能ñ在沒有鐘ù、鐘槌或úû出 。 2. 鐘錶一¡ 有非 ü細 ý的 ²ç，可能需要一¡ 的保õ¿務、ØÙ þ或進一步的修理¾ ，而 些÷由買 家 責。本公司不保證所拍賣的任何鐘錶÷是在ÍÎ 狀 ð。¥非圖錄中有¸及， 不¸¹證 。 3. [Ñ鐘錶÷有被ÿ¼查看 6的à號及:w，因ÇÝ有 ÚÛt能的錶C可能不 EÚÛ，本公司£ ø在2用前請 專業鐘錶 ©_ 。

競投人及買家均應將 e定有Ü的通% ¨ »¼方式以 競投登記文件或 本公司§可的方式告知本公司，若有改 <，應S "告知本公司。 本規則中所¸及之通知，˺以¢+或ìÞ形式Ù出的 " 通知。該等通知在下列時^s為À½： ( 一 ) 如是專人À½的，當À到有關方之 ¨時± ( Ð ) 如是以 I方式Ù出的，則為 I 之 ïA¿± ( é ) 如是以ìÞ方式Ù出的，當ÙÀìÞ §Ù出時。

第四章 其他

第七十條 語言文本

第六十二條 資料採集 、錄影

第六十七條 通知

第六十八條 可分割性

如本規則之任何 款或部 因任何理由被§定為無Ü、不 法或不可°行，本規則 款或部 B然有Ü， 關É方 應當遵守、°行。

第六十九條 法律及管轄權

本規則及 關©:、§»、因依 本規則參加本公司拍賣 活動而 %或 之有關的任何Ú ，均受香港法律規È並由 香港法律解 。本公司、買家及競投人等 關É方均須¿J 香港法?之 一È* 。任何由香港法?) 有關本規則 所 %的Ú 之¤' 可於中(人â' &制°行。

本規則以中文為yõ文本， 文文本為參Ì文本。 文文本如 中文文本有任何不一致之處，以中文文本為õ。

¬ ~本公司的拍賣業務方"，本公司可能對任何拍賣Ò+ 進行錄´、錄æ及記錄， 需要向競投人}|½人資料或向 ïé方P 有關競投人的資料 ( 如向ª行P ¢用審 )。 些資料會由本公司處理並且保密， 有關資料有可能¸¹ 給本公司、本公司的 部、附 公司、{公司以協助本公司為 競投人¸¹Õ®的¿務、進行[\ ]，或以便¸¹符 競 投人要求的¿務。為r競投人的 ，本公司 可能需要向 ïé方¿務¹應[ ( 如^ 公司或ñ_公司 ) ¸¹競投人 的部份½人資料。競投人參 本公司的拍賣， 表示競投人 同意上文所 。如競投人欲 或Ø改½人資料，請 [\ ¿務部»¼。

本規則 ¤用於本 拍賣，本公司可不時Øø本規則，競投 人 買家參 另一 拍賣的時r應以當時¤用的業務規則 為õ。

第六十三條 保密責任

第七十三條 解釋權

本公司有 務為賣家、競投人及買家保守`密，並;據香港 法律 本規則`ã賣家、競投人、買家 本公司的7當

不受íî。 以下情況¥ @ ( 一 ) 在 理需要下將資料u§本公司任何關»·¸或人µ， 該·¸或人µ需¶õ保密 務 ;

第七十一條 規則版權所有

本規則由本公司制R 修改， 應 D本公司所有。未 本公司©_ " 可，任何人不 以任何方式或手%，利用 本規則 [業利 ， 不 對本規則之任何部 進行 製、ìÀ或Çñ於可 P$#中。

第七十二條 適用時期

本規則的解 由本公司行2。

CONDITION OF BUSINESS

Unless otherwise stated, Poly Auction (Hong Kong) Limited acts as the Seller's agent. ﬔe closing agreement for sale of a Lot shall be a contract between the Seller and the Buyer. ﬔese Conditions of Business and all other terms, conditions and notices contained in the catalogue, announced by the Auctioneer or provided at the saleroom shall constitute the provisions agreed among the Seller, the Buyer and/or Poly Auction (Hong Kong) Limited as auction agent.

queries or authentication related to the Lot at the request of the Buyer or any additional costs and legal expenses to bring claims against a defaulting Buyer; (14)“Reserve” means the confidential minimum selling price for the Lot that the Seller has confirmed with the Company; (15)“Estimate” means the estimated selling price of a Lot written in the catalogue or other descriptive materials, excluding the Buyer's Commission; (16)“Storage Fee” means the storage fee payable by the Buyer to the Company according to these Conditions of Business.

In these Conditions of Business, where the context requires, words denoting the singular shall include the plural and vice versa.

ARTICLE 2 DEFINITIONS AND INTERPRETATION

ARTICLE 3 SCOPE OF APPLICATION

In these Conditions of Business, the following terms shall have the meanings set forth below: (1)“Company” means Poly Auction (Hong Kong) Limited; (2)“Seller” means any natural person, legal person or other organization that consigns a Lot(s) within the scope of these Conditions of Business to the Company for auction. In these Conditions of Business, a Seller shall include any of its agents unless as otherwise specified herein or required in a particular context; (3)“Bidder” means any person, company, body corporate or other organization who or which considers, carries out or attempts to bid in anyway. In these Conditions of Business, a Bidder shall include any of its agents unless as otherwise specified herein or required in a particular context; (4)“Buyer” means the Bidder whose bid or offer for a Lot is recognized by an Auctioneer as the highest bid for that Lot in an auction held by the Company, including the principal on behalf of which such Bidder acts; (5)“Buyer's Commission” means any commission that a Buyer shall pay to the Company calculated at the rate specified herein of the Hammer Price for the Lot that such Buyer purchases; (6)“Lot” means any item consigned by a Seller to the Company for auction and so auctioned in any auction, in particular, any item numbered in any catalogue with certain description; (7)“Auction Date” means the date on which an auction is formally held, as announced by the Company in its public notice. In case of any discrepancy between the actual date and the announced date of an auction, the actual date shall prevail; (8)“Sale Date” means, in an auction held by the Company, the date on which the auctioneer concludes a contract for sale between a Seller and a Buyer by way of hammer striking or any other customary manner publicly confirming the sale; (9)“Auctioneer” means any person designated by the Company to moderate a particular auction; (10)“Hammer Price” means the price for a Lot at which the Auctioneer decides to sell the Lot by striking the hammer or the agreed sale price in the post-auction sale; (11)“Proceeds of Sale” means the net amount due to the Seller, being the Hammer Price less the Buyer's Commission, all expenses and other amounts payable to the Company by the Seller; (12)“Purchase Price” means the total amount payable by the Buyer for his/her/its purchase for each Lot, including the Hammer Price, the Buyer's Commission, other Buyer's Expenses and all Buyer's Expenses arising from its failure to perform its obligations; (13)“Buyer's Expenses” means costs and expenses in relation to sale of the Lot by the Company, including but not limited to insurance policies, packing, moving, storage, custody for the Lot, any expenses of testing, investigation,

All parties participating in any auctions organized by the Company, including the Seller, the Bidder, the Buyer and all other related parties (including but not limited to the agents of the Seller, the Bidder and the Buyer) shall be deemed to accept in full and bound by these Conditions of Business, and shall comply with them in such auctions, enjoy the rights and perform the obligations provided herein.

Any Bidder who bids in an auction organized by the Company, whether in person or by authorizing an agent to bid on his/ her/its behalf, whether by raising the paddle, by absentee bids, by phone or by any other means, shall be deemed to have accepted these Conditions of Business in full.

Any dispute among the parties to auctions organized by the Company shall be settled in accordance with these Conditions of Business.

CHAPTER I GENERAL RULES ARTICLE 1 POLY AUCTION (HONG KONG) LIMITED AS AGENT

ARTICLE 4 SPECIAL NOTICE Bidders and Buyers participating in any auctions organized by the Company shall carefully read and be abided by these Conditions of Business; Bidders and Buyers shall read the provisions limiting the Company's liabilities and disclaimers contained in these Conditions of Business carefully. Bidders and/or their agents have the responsibilities to review the original Lot in person, and bear legal liabilities for their acts of bidding the Lot. Upon the Auctioneer confirms the Bidder's bid by striking his/her hammer or in any other manner publicly indicating confirmation of the purchase in any auctions organized by the Company, the contract for sale regarding the Lot shall immediately enter into force and the Bidder shall become the Buyer of the Lot. ﬔe Company, the Seller and the Buyer shall acknowledge the sale of the Lot and its closing, enjoy the rights and assume the obligations provided by applicable laws and/or these Conditions of Business. Any party that fails to perform obligations shall bear its/his/her corresponding legal liabilities. ﬔe Company may amend these Conditions of Business for a particular auction by posting announcements at the auction site or making an announcement at such auction through an Auctioneer.

CHAPTER II THE SELLER ARTICLE 5 CONSIGNMENT PROCEDURE When arranging for the consignment of the Seller's Lot to the Company for auction: (1) The Seller must present a valid identity document with photo issued by the government (e.g. resident identity card or passport) if the Seller is a natural person and sign a consignment auction contract with the Company; (2) A valid certificate of incorporation, proof of shareholding, or a legal authorization document shall be required if the Seller is a legal entity or any other organization, which shall

sign a consignment auction contract with the Company.

(3) When the Seller signs a consignment auction contract with the Company, the Company shall be automatically authorized to make pictures, illustrations, catalogues, or other video images of the Lot.

ARTICLE 6 THE SELLER'S AGENT When arranging for the consignment of the Lot to the Company for auction, the Seller's agent shall submit to the Company the relevant authorization certificates including: (1) A valid identity document if such agent is a natural person; (2) A valid certificate of incorporation and proof of share holding if such agent is a legal person or any other organization; and (3) A power of attorney duly executed. The Company has the right to examine the aforesaid documents in a lawful manner.

ARTICLE 7 THE SELLER'S WARRANTIES The Seller hereby makes irrevocable warranties to the Company and the Buyer with respect to the Lot it consigns to the Company for auction as follows: (1) The Seller has absolute ownership or legal right to dispose of the Lot. ﬔe auction of the Lot will not prejudice any legal interest (including copyright interest) of any third party, and will not violate the provisions of relevant laws and regulations; (2) The Seller has, to the best of its knowledge, made full, complete and accurate disclosure and description to the Company with respect to the origin and any flaw of the Lot and notified the Company in writing, without any concealment or fabrication; If the Lot is liquors or teas, the Assignee should truly disclose the defects or flaws about, including but not limit to the packaging, labels, level of wear and tear, corks, etc.

(3) If the Lot being consigned shall be imported into Hong Kong, the Seller shall guarantee the compliance with the laws of its origin, and ensure the completion of the export and import procedures and notify the Company in writing; and (4) The Assignee must ensure that the auctioned items do not contravene any laws of Hong Kong (including the Public Health and Municipal Services Ordinance, the Food Safety Ordinance and the Protection of Endangered Species of Animals and Plants Ordinance the Endangered Species of Wild Animals and Plants), ensure and disclose to our Company that it has any license or qualification registration to possess, disposal or sale of the auctioned item required by the laws of Hong Kong. ﬔe Assignee should ensure that if they require our Company to make an additional license or permit to the relevant departments for the auction, display, disposal or possession of the auctioned items, they should notify us in written notice not less than two months prior to the auction.

(5) ﬔe Seller shall guarantee that the Lot is authentic. In so doing, the Seller guarantees: (a) ﬔe Lot is not a counterfeit or forgery of: i. ﬔe work of any artist, author or manufacturer, if the Lot is described by the Seller as the work of that artist, author or manufacturer; ii. A work created or produced within a particular time frame or culture, if the Lot is described by the Seller as a work created or produced during that time frame or culture; iii. A work of a particular origin or source, if the Lot is described by the Seller as a work of that origin or source; or iv. A work created or crafted or refined or restored through a

particular process or manner, if the Lot is described by the Seller as a work created through that process or manner. (b) In the case of jewellery and timepieces, in addition to 5(a) above, the Lot is crafted in the manner as described by the Seller, out of the particular materials as described by the Seller, and had underwent no restoration processes other than those stated by the Seller; and (c) In the case of gemstones, in addition to 5(a) above, the Lot had undergone no beautification processes other than those specified by the Seller.

If the Seller violates any of the above warranties, the Seller shall fully indemnify all losses, costs and expenses suffered by the Company and/or the Buyer.

and all losses caused by the suspension of auction; (3) ﬔe Company has an objection to the explanation of the Seller or the accuracy of the Seller's warranty mentioned in Article 7 hereof; (4) Any evidence proves the Seller has violated or will violate any provisions of these Conditions of Business; (5) For any other reason, the Company believes that the auction of such Lot shall be suspended; or (6) Whichever situation causes such suspension, if the Company is aware of any ownership or other dispute in relation to the Lot being consigned for auction, the Company shall have the right to refuse to return such Lot until the dispute is settled.

wear, inherent flaws, internal or potential defects, change of substance itself, self-combustion, self-heating, oxidation, corrosion, leakage, rat-bite, worm-bite, change in the atmosphere (climate or air temperature), change in humidity or temperature, or other gradual changes or caused by force majeure such as earthquake, tsunami, war, hostile action, armed conflict, terrorism, coup, strike and social riot, or nuclear radiation or radioactive pollution as well as the damage or destruction of book frames, glass, drawers, bottom pads, trestles, mountings, insert pages, scroll heads or other similar accessories caused by any reason are not within the scope of insurance coverage. ﬔe aforesaid risks should be borne by the Seller.

ARTICLE 8 RESERVE

ARTICLE 12 THE SELLER'S WITHDRAWAL OF LOT

ARTICLE 18 INSURANCE INDEMNITY

Unless otherwise agreed upon by the Company and the Seller, all Lots are offered subject to a Reserve. ﬔe Reserve shall be determined by the Seller and the Company in writing through consultation, and no modification of the Reserve shall be made without the prior consent of the other party after it is determined by both parties. Following the bidding failure of the Lot authorized by the Seller, the Auctioneer shall have the right to sell such Lot at the Reserve after such auction and the Seller must pay the Commission to the Auctioneer. In no circumstance shall the Company bear any liability for failure to sell the Lot at the Reserve at the auction held by the Company.

The Seller may withdraw the Lot at any time prior to the Auction Date by issuing a written notice to the Company.

In the case that the Lot has been listed in the catalogue or other public materials and they have begun to be printed at the time of the withdrawal of the Lot, the Seller shall pay an amount equal to 20% of the Reserve of the Lot and all other expenses. In the case that the catalogue or other public materials have not been printed, the Seller shall pay an amount equal to 10% of the Reserve of the Lot and all other expenses. Any dispute or claim arising out of the Seller's withdrawal of the Lot shall be borne by the Seller and has nothing to do with the Company.

Any damage or destruction of the Lot caused by incidents or disasters covered by the insurance purchased by the Company for the Lot shall be handled in accordance with the laws of Hong Kong on insurance. The Company shall pay insurance indemnities after deducting the Company's expenses (other than the Commission) to the Seller after the Company obtains such indemnities from the insurance company.

ARTICLE 9 THE COMPANY'S DISCRETION

ARTICLE 13 AUTOMATIC INSURANCE

The Company may decide the following matters at its absolute discretion: (1) Explanation and/or appraisal of any aspect of any Lot through the catalogue of the Lot and/or news media and/or other carriers; (2) Whether to consult any expert or not; (3) ﬔe illustration of the Lot in the catalogue, the exhibition of the Lot and other forms of publicizing the Lot, the arrangement in the promotional activities as well as the standards of payable expenses; (4) Suitability of a Lot for auction by the Company; (5) Other matters such as the date of auction, the place of auction, the conditions of auction and the manner of auction.

Unless otherwise instructed by the Seller in writing, all Lots will be automatically covered under the insurance policies purchased by the Company after the Seller enters into the consignment auction contract with the Company and delivers the Lots to the Company. ﬔe insured amount shall be based on the Reserve agreed by the Seller and the Company in the consignment auction contract (if there is no Reserve, it shall be the agreed insured amount of the Lot; if the Reserve is adjusted, it shall be the original Reserve of the Lot). ﬔe insured amount is only applicable to insurance and claim for compensation, is not the Company's warranty or guarantee for the value of the Lot, and does not mean that the Lot can be sold for an amount equal to the insured amount through any auction by the Company.

ARTICLE 10 LOT NOT AUCTIONED

ARTICLE 14 INSURANCE PREMIUM

After the Seller has signed the consignment auction contract with and delivered the Lot to the Company, if for any reason the Company believes that the Lot is not suitable for auction by the Company, the Seller shall collect the Lot within thirty days from the issuance date of the Company's notice (fees for packaging and transportation shall be at the Seller's own expense). The consignment auction contract between the Seller and the Company will terminate on the date when the Seller collects the Lot. If during the above-mentioned period the Seller fails to collect the Lot, the consignment auction contract will automatically terminate upon the expiration of such period. If within seven days after the termination of the consignment auction contract the Seller does not collect the Lot, the Company shall have the right to charge the Storage Fee, insurance fees and other reasonable expenses, and to dispose of the Lot in a way the Company deems proper. ﬔe Seller is responsible for the collection of, if any, the amount obtained from the disposal after deducting all the fees and expenses incurred by the Company.

If the Lot is sold, the insurance premium payable by the Seller shall be 1% of the Hammer Price unless otherwise agreed by the Seller and the Company. If the Lot is not sold, the Seller shall as well pay the insurance premium at 1% of the Reserve.

ARTICLE 11 SUSPENSION OF AUCTION The Company has the right to suspend the auction of any Lot at any time before the actual auction in any one of the following situations: (1) The Company has an objection to the ownership or authenticity of the Lot; (2) Any third party has an objection to the ownership or authenticity of the Lot and can provide relevant evidence materials as to the basis of such objection, pays a security pursuant to the Company's requirements and is willing to take the corresponding liabilities for the legal consequences

ARTICLE 15 INSURANCE PERIOD If the Lot is sold in the auction, the insurance period shall terminate at the earlier of the seventh day after the Sale Date (including the Sale Date) and the date when the Buyer collects the Lot. If the Lot is not sold in the auction, the insurance period shall terminate upon the expiry of thirty days after the Company issues the notice on the collection of the Lot.

ARTICLE 16 INSURANCE BY THE SELLER In the event that the Seller notifies the Company in writing not to insure the Lot, it shall undertake all the risks and the following liabilities at any time (unless otherwise ruled by an arbitration institution): (1) To compensate for any claim or action brought by any other parties against the Company with respect to the damage or destruction of the Lot; (2) To compensate the Company and/or any other parties for all losses suffered and all expenses incurred because of the damage or destruction of the Lot caused by any reason; and (3) To notify the compensation related provisions herein to any insurer of the Lot.

ARTICLE 17 INSURANCE DISCLAIMER The damage or destruction of the Lot caused by natural

ARTICLE 19 BIDDING PROHIBITION ﬔe Seller shall not bid for the Lot consigned to the Company by himself/herself/itself for auction, or authorize any other person to bid on his/her/its behalf. Only the Company has the right to bid on behalf of the Seller at a price not more than the Reserve. The Seller shall bear all legal liabilities and compensate for all losses caused to the Company if the Seller violates this Article.

ARTICLE 20 COMMISSION AND EXPENSES Unless otherwise agreed upon by the Seller and the Company, the Seller shall authorize the Company to deduct 10% of the Hammer Price as Commission and at the same time deduct other expenses. Despite the fact that the Company is the Seller's agent, the Seller agrees that the Company may collect the Commission and other expenses from the Buyer in accordance with the provisions in Article 49 hereof.

ARTICLE 21 SERVICE FEE FOR UNSOLD LOT In case the Lot is not sold because the bidding price is lower than the Reserve, the Seller shall authorize the Company to charge the Seller a service fee for unsuccessful auction and other expenses.

ARTICLE 22 PAYMENT OF PROCEEDS OF SALE Where the Buyer effects full payment of the Purchase Price to the Company in accordance with the provisions in Article 49 hereof, the Company shall pay the Proceeds of Sale to the Seller thirty-five days after the Sale Date in Hong Kong dollars.

ARTICLE 23 DEFERRED PAYMENT Where the Company does not receive the full payment of the Purchase Price from the Buyer upon the expiry of the payment period under Article 51 hereof, the Company will pay the Proceeds of Sale to the Seller within seven working days after receipt of full payment of the Purchase Price from the Buyer.

ARTICLE 24 SELLER TAXES ﬔe Seller shall pay taxes to the government for the Proceeds of Sale obtained. If the Company has the obligation to withhold and pay taxes according to the provisions of the relevant laws, the Company will follow the provisions of the laws. The Seller shall assist in handling all the formalities and bear the corresponding taxes and expenses.

ARTICLE 25 ASSISTANCE IN THE COLLECTION OF OUTSTANDING PAYMENT ﬔe Seller shall, at the time of its consignment of the Lot to the Company for auction, be deemed to have authorized the Company to demand the corresponding outstanding payment from the Buyer on behalf of the Seller. Where the Buyer

fails to fully pay the Purchase Price within seven days after the Sale Date (including the Sale Date), the Company shall have the right to demand the Commission and other Buyer's Expenses according to the provisions of Article 58 hereof.

In addition, the Company shall as well have the right to take appropriate actions (including but not limited to resorting to legal proceedings) to assist the Seller in collecting such outstanding payment from the Buyer where it is deemed by the Company to be practicable. ﬔe above provision does not exclude the Seller's right to demand in person or authorize any third party to demand the outstanding payment from the Buyer and does not obligate the Company to demand the corresponding outstanding payment from the Buyer on behalf of the Seller under any circumstance. ﬔis Company shall not bear the corresponding liability for the Seller because of the Buyer's failure to pay the Purchase Price under any circumstance.

ARTICLE 26 THE COMPANY'S DISCRETION The Company shall have the right to accept the Seller's authorization (at the Seller's expenses) and may determine the following matters as the case may be: (1) To agree on special conditions of the payment of the Purchase Price; (2) To remove, store and insure the sold Lot; (3) To settle claims brought by the Buyer or the Seller in accordance with the relevant articles hereof; and (4) To take other necessary measures to collect the outstanding payment owed by the Buyer to the Seller.

ARTICLE 27 UNSOLD LOT In the event that the Lot is not sold, the Company may choose any one of the following actions: (1) Private sale after the auction The Company may re-negotiate with the Seller on the revised Reserve and sell the Lot in private sale, and pay the Seller the Proceeds of Sales adjusted based on the revised Reserve.

(2) Re-auction ﬔe Company may re-auction the Lot. ﬔe Commission and expenses scale set out in the previous consignment auction contract remains applicable.

(3) Collection of the Lot ﬔe Seller shall take back the Lot within 30 days upon receipt of the Company's notice on collection (fees for packaging and transportation shall be paid by the Seller) and pay the Company the service fee for unsuccessful auction and other expenses. ﬔe Company shall, upon expiration of such time limit, be entitled to charge the Storage Fee, insurance fees and other reasonable expenses, and to sell the Lot through public auction or other means of sale according to the conditions the Company deems appropriate. The Company shall also be entitled to deduct the service fee for unsuccessful auction and other expenses payable by the Seller in the first auction as well as all expenses for re-sale of the Lot by auction from the Proceeds of Sale before paying the remaining amount to the Seller.

ARTICLE 28 RISK ASSUMPTION ﬔe Seller shall assume liability for all risks and expenses that occur after the time limit prescribed herein if the Seller fails to take back the Lot not auctioned or the unsold Lot within such the time limit. ﬔe Seller shall assume liability for all risks and expenses of the Lot not auctioned or the unsold Lot at the earlier of the thirtieth day after the Company issues a notice on collection of the Lot to the Seller (including the notice date) and the time when the Seller collects the Lot in accordance with these Conditions of Business. Where the Seller requests Company to assist it in the return of the Lot within the time limit provided herein and the Company so agrees, the Seller shall assume liability for all risks and expenses that occur after the Lot leaves the place designated by the Company. Unless the Seller specifically gives an indication and pays insurance premium in advance, the Company has no obligation to insure the Lot for any period after its departure from the place designated by the Company. Where the Seller requests

the Company to assist it in returning the Lot by means of post, express delivery or other third-party transportation, the Company shall be deemed to have returned the Lot and the Seller shall be deemed to have collected the Lot upon the Company's delivery of the Lot to the post, express delivery and transportation entities, companies or their employees/branch offices.

be responsible for any breach of the Conditions of Business by the Seller.

4. Without affecting Article 30 (2) of these rules, any claim for compensation that the Bidder makes to the Company or the Seller shall be limited to the Hammer Price and the Buyer's Commission of the Lot. Under no circumstances shall the Company and the Seller bear any consequential losses incurred by the Buyer.

CHAPTER III THE BIDDER AND THE BUYER ARTICLE 29 RESPONSIBILITIES OF THE BIDDER AND THE COMPANY IN RESPECT OF THE LOT 1. ﬔe Company's perception of all Lots partly relies on the information provided by the Seller, the Company is unable and will not carry out comprehensive inspection of all Lots.

Bidders are aware of this and bear the responsibilities of inspecting and testing the original Lots so that Bidders will be satisfied with those Lots in which they may be interested.

2. All Lots for sale by the Company are available for viewing

by Bidders. By bidding, Bidders and/or their agents are deemed to have carried out thorough examination of the Lots, and are deemed to be satisfied with the conditions of the Lots and the accuracy of their description.

3. Bidders acknowledge that various Lots are dated long time ago and of special categories, implying that the Lots are not perfect and not free from defects. All Lots are sold on an“as is” basis at the time of the auction (whether or not Bidders attend the auction). Condition reports may be provided when during the viewing period. Under certain circumstances, catalogue descriptions and condition reports may be used for reference about certain defects of the Lots. Nevertheless, Bidders should pay attention that the Lots may have other defects not clearly stated in the catalogue descriptions and condition reports.

4. Regarding the information about the Lot provided to Bidders, including any forecast information (written or verbal), catalogues and other reports, commentaries or estimated values, such information are not statement of facts, but rather are statements of the opinion that the Company holds. Such information can be altered at the sole discretion of the Company from time to time.

5. ﬔe Company or the Seller has not made any declaration or warranty as to whether any Lot is subject to any copyright or whether the Buyer has bought the copyright of any Lot. 6. In accordance with the matters contained in Article 29 (1) to 29 (5) of the Conditions of Business and the special exemption contained in Article 30 of the Conditions of Business, the descriptions in the catalogue and in the condition reports are written in a reasonably prudent manner (and such should be in line with those terms of the Conditions of Business regarding the Company serving as Auction Agent) based on (1) the information provided by the Seller to the Company; (2) academic and technical knowledge (if any); and (3) generally accepted opinions of the relevant experts.

ARTICLE 30 THE COMPANY'S EXEMPTION AND RESTRICTION OF RESPONSIBILITIES TO THE BUYER 1. If the Company considers the Lot as forgery, it shall return the Hammer Price and Buyer's Commission to the Buyer.

2. Subject to the matters contained in Article 29 of the Conditions of Business and the rules in Article 30 (1) and 30 (5) of the Conditions of Business, the Company shall not: (1) be responsible for any errors or omissions in the information provided by the Company to the Bidder verbally or in writing, no matter whether this is caused by negligence or other reasons, with the exception of provision contained in Article 29 (6) of the Conditions of Business; (2) make any guarantee or warranty to the Bidder, excluding any implied warranty and rules other than the expressed warranty that the Seller has entrusted the Company to make to the Buyer (with the exception of those responsibilities that cannot be discharged according to the stipulations of laws); (3) be accountable to any Bidder for any actions or omissions of the Company regarding the auction or the sale of any Lot (no matter whether this is caused by negligence or other reasons).

3. Unless the Company owns the Lot to be sold, it shall not

ARTICLE 31 CATALOGUE AND OTHER EXPLANATION OF THE LOT ﬔe Company shall prepare a catalogue of the Lot to briefly introduce the conditions of the Lot with words and/or pictures to facilitate the Bidder and Seller to participate in the auction held by the Company. ﬔe words and Estimate in the catalogue of the Lot, pictures, other images as well as public materials are only references for the Bidder and may be revised before auction. The Company provides no guarantee for the authenticity, value, tone, quality or flawlessness of the Lot.

ARTICLE 32 UNCERTAINTY OF CATALOGUE Where the tone, color, graduation shape or any other feature of the Lot shown in the catalogue and/or any other illustrations, images and public materials differ from those of the original Lot due to printing, photography or other technical reasons, the original Lot shall take precedence. Any introduction and appraisal of any Lot made by the Company and its employees or its agents in anyway (including the certificate, catalogue, slideshow and news media) are only opinions for reference and do not constitute any guarantee for the Lot. The Company and its employees or its agents shall undertake no liability for any inaccuracy or omission in the aforesaid introduction or appraisal.

ARTICLE 33 RESERVE AND ESTIMATE Unless otherwise indicated, all Lots are offered subject to a Reserve. Normally, the Reserve is not higher than the lowest Estimate announced before the auction or published before the auction by the Company. If a Reserve has not been set for a Lot, unless there has already been bidding, the Auctioneer, in his or her discretion, may determine the starting price, but this shall not be higher than the lowest Estimate of the Lot before the auction.

Under no circumstances shall the Company bear any liability when the bids for a Lot do not reach the Reserve. If the bids are lower than the Reserve, the Auctioneer, in his or her discretion, may sell the Lot at a price lower than the Reserve.

However under such circumstances, the amount that the Company shall pay the Seller shall be the amount that the Seller would receive as if the Lot was sold at the Reserve.

The Estimate is estimated at an earlier time before the Auction Date, it is not a confirmed selling price, and is not legally binding. Estimates cannot be used as a forecast of the Hammer Price of the Lot, and the Company has the right to revise from time to time the Estimate already made.

ARTICLE 34 BIDDERS' INSPECTION RESPONSIBILITY The Bidder and/or his/her/its agents shall have the responsibility to learn about the actual conditions of the Lot and shall be legally liable for his/her/its bid for a certain Lot. ﬔe Company strongly advises the Bidders to personally inspect the original Lot they intend to bid for before the Auction Date by authentication or other means. Bidders shall judge by themselves whether Lot complies with the descriptions in the Company's catalogue of the Lot and other images and public materials, rather than relying on the catalogue, images and public materials to make decisions.

ARTICLE 35 REGISTRATION OF BIDDERS If the Bidder is a natural person, before the Auction Date, he/ she shall fill in and sign the registration documents with an identity document with photo issued by the government (such as resident identity card or passport), and provide proof of the current address (e.g. utility bill or bank statement); if the

Bidder is a company or other organization, before the Auction Date, it shall fill in and sign the registration documents and collect a paddle with its valid certificate of incorporation and proof of shareholding and legitimate authorization document. ﬔe Company may request the Bidder to present proof of bank details or other proof of financial conditions for payment purposes.

ARTICLE 36 PADDLE The Company can announce before the Auction Date the conditions and procedures of arranging paddle for the Bidder according to different auction conditions and auction methods etc., including but not limited to the qualification and conditions for the Bidder to arrange a paddle. The Company solemnly reminds that a paddle is the only proof for the Bidder to participate in the auction at the venue. ﬔe Bidder shall keep it properly and shall not lend it to others to use it. If it is lost, it shall immediately handle the loss report formalities in a written form recognized by the Company.

No matter if the person holding a paddle has been appointed by the Bidder or not, his or her bidding acts at auction are considered as having been made by the registered person himself, and the Bidder shall bear the legal responsibilities for the acts of the former, unless the Bidder himself has already submitted a written report to the Company regarding the loss paddle.

ARTICLE 37 AUCTION DEPOSIT When a Bidder participates in an auction of the Company, he/she shall first pay the auction deposit before collecting the paddle. The amount of the auction deposit will be announced by the Company before the Auction Date, and the Company has the right to waive the auction deposit. If the Bidder fails to buy the Lot and he does not owe the Company any sum, then that auction deposit shall be returned to the Bidder in full without interest within 14 working days after the end of the auction. If the Bidder succeeds in buying a Lot, the auction deposit shall automatically be converted to the payment of the Purchase Price of the Lot.

ARTICLE 38 DISCRETION OF THE COMPANY The Company has the right to forbid anyone from participating in the auction organized by the Company or entering the auction site, or taking pictures or shooting videos at the auction site at its discretion.

ARTICLE 39 HANDLING OF ABNORMAL EVENTS If any abnormal event occurs at the auction site, the Company has the right to take emergency actions. If any dispute arises at the auction site, the Company has right to mediate and settle it.

ARTICLE 40 CONFIRMATION OF BUYER'S IDENTITY ﬔe Bidder must take good care of his/her/its paddle and be cautious not to lose it. ﬔe Bidder shall not lend his/her/its paddle to others, or the Bidder shall assume all legal liability for others' act of bidding for the Lot using his/her/its paddle.

ARTICLE 41 ABSENTEE BIDS Bidders shall attend the auction in person. If a Bidder or its agent cannot attend in person, it can appoint the Company in writing for the Company to bid on its behalf. ﬔe Company has the discretion to accept or not accept the above appointment. Any Bidder who has appointed the Company to bid shall handle the appointment formalities within the period stipulated (no later than three business days), and produce a completed Absentee Bid Order to the Company, and at the same time pay the auction deposit according to the Conditions of Business.

If the Bidder who has appointed the Company to bid needs to cancel the absentee bid, it shall notify the Company no later than 24 hours before the Auction Date.

ARTICLE 42 AUCTION RESULTS OF ABSENTEE BID If a Bidder who has appointed the Company to bid, the auction results and the related legal responsibilities shall be

borne by the Bidder.

If the Bidder indicates in the Absentee Bid Order that it bids by instant communication methods such as telephone, it shall fill in the instant communication method accurately and keep the instant communication instrument properly, during the period in which the Company is appointed to bid, the Bidder shall use that instant communication instrument itself. Where the instant communication instrument is lost or it cannot be within control, the Bidder shall immediately use a written form recognized by the Company to change the instant communication method filled in the Absentee Bid Order.

During the period the Company is appointed to bid, it shall make appropriate efforts to contact the Bidder, the bidding information transmitted by that instant communication instrument (whether or not it is transmitted by the Bidder personally or the Bidder's agent) shall be considered as transmitted by the Bidder itself, and the Bidder shall bear legal responsibilities for the actions taken by it. Unless the Buyer itself has changed the instant communication method filled in the Absentee Bid Order by a written method recognized by the Company. All telephone bids may be recorded and kept at Poly Auction (Hong Kong)’s sole discretion, by opting for telephone bids, the Bidder agrees that its phone conversation will be recorded.

Nevertheless, under no circumstances shall the Company be responsible for any unsuccessful contact or errors or omissions in the bidding process using that instant communication instrument.

ARTICLE 43 DISCLAIMER OF ABSENTEE BID Since absentee bid is a free service of transmitting bidding information that the Company provides to the Bidder, the Company and its employees shall not bear any responsibilities for unsuccessful bidding or any errors, omissions, negligence, fault or inability to bid on its behalf during the bidding process.

ARTICLE 44 FIRST-COME-FIRST-SERVE PRINCIPLE FOR ABSENTEE BID If two or more Bidders appointing the Company to bid on their behalf have bid the same price for the same Lot and eventually that Lot is sold at that Hammer Price, then the one who first submitted to the Company shall be the Buyer of that Lot.

ARTICLE 45 DISCRETION OF THE AUCTIONEER The Auctioneer has the right at his absolute and sole discretion in the following matters: 1. Refusal or acceptance of any bid; 2. Carrying out the auction in such a manner as he may decide; 3. Withdrawal of any Lot, dividing it for auction separately, combining any two or more Lots for auction; 4. If there are errors or disputes, no matter if they occur during or after the auction, he shall have the right to decide the successful Bidder, whether or not to continue the auction, to cancel the auction or place the Lot under dispute for auction again; 5. ﬔe Auctioneer may open and carry out the bidding at a level with bidding increments that he considers suitable, and has the right to bid on behalf of the Seller up to the amount of the Reserve, either by placing consecutive bids or by placing bids in response to other Bidders; 6. Adoption of other actions that he considers as appropriate.

ARTICLE 46 NO RESERVE For those Lots without a Reserve, unless there has already been bidding, otherwise the Auctioneer, under his own discretion, may decide the starting price. If there is no bidding at such a price, the Auctioneer will, at his own discretion, lower the price and continue the auction until a Bidder starts to bid, then he will continue the auction at that price and then continue up from that amount.

ARTICLE 47 IMAGE DISPLAY BOARD AND CURRENCY CONVERSION BOARD To facilitate Bidders, the Company may use image projector

or other forms of display boards in the auction. ﬔe contents shown are for reference only. It is possible that there are differences in the information such as the amount, reference number of the Lot, images of the Lot or reference foreign currency etc. shown in the image projector or other forms of display boards and the Company shall not bear any responsibilities for any losses caused by such differences.

ARTICLE 48 SUCCESSFUL BID The fact that the Auctioneer confirms the highest bid of a Bidder by striking his/her hammer or in any other manner of publicly confirming the sale shall indicate the conclusion of a sales contract for the Lot between the Bidder and the Seller.

ARTICLE 49 COMMISSION AND EXPENSES After the Bidder has succeeded in bidding, it will become the Buyer of that Lot. A buyer’s premium will be added to the Hammer Price and is payable by the buyer as part of the total purchase price. The buyer’s premium is 18% of the hammer price of each lot and at the same time other Buyer’s Expenses, and recognizes that the Company can charge the Seller the commission and other Seller expenses according to provisions of the Consignment Agreement.

ARTICLE 50 TAXES All the monies that the Buyer pays to the Company are net amounts, which shall not include any tax on goods, tax on services or other value added tax (whether levied by Hong Kong or other regions). If there is any tax applicable to the Buyer, the Buyer shall bear it itself according to the provisions of the relevant laws currently in force.

ARTICLE 51 PAYMENT TIME After the Lot is successfully sold in an auction, unless otherwise agreed, regardless of any stipulations of the export, import or other permits of the Lot, the Buyer shall fully pay the Purchase Price within 7 days after the Sale Date (including the Sale Date), and collect the Lot. If packing, moving costs, and insurance expenses, expenses related to export are involved, the Buyer shall pay them altogether.

ARTICLE 52 PAYMENT CURRENCY All monies shall be paid in Hong Kong dollars. If the Buyer pays in another currency other than Hong Kong dollars, it shall convert it at the exchange rate agreed between the Buyer and the Company or at the exchange rate of Hong Kong dollars and that currency type on the previous working day announced by such bank as selected by the Company.

All bank handling fees, commission and charges incurred by the Company for converting the foreign currency paid by the Buyer into Hong Kong dollars shall be borne by the Buyer.

ARTICLE 53 TRANSFER OF OWNERSHIP Even if the Company has delivered the Lot to the Buyer, the Buyer has not yet obtained the ownership of the Lot. This shall pass onto the Buyer only when the Buyer has fully paid the Purchase Price and all monies that the Buyer owes the Company.

ARTICLE 54 TRANSFER OF RISKS After the bidding has succeeded, the risks ofthe Lot shall be borne by the Buyer itself after the occurrence of one of the following events (whichever earlier): 1. ﬔe Buyer has collected the Lot; or 2. ﬔe Buyer has fully paid the Purchase Price for the Lot to the Company; or 3. ﬔe expiry of seven days after the Sale Date (including the Sale Date).

ARTICLE 55 COLLECTION OF THE LOT Risk and responsibility for the lot passes to the Buyer at the expiration of thirty calendar days from the Sale Date (including the Sale Date). or on collection by the Buyer, if earlier. After thirty calendar days, all expenses incurred, including but not limited to storage, moving, insurance will be for the account of the Buyer. Although the Company

shall use reasonable efforts to take care of purchased Lot and suggest handlers, packers or carriers, the company is not responsibleto any person to whom we have made are commendation for the acts or omissions of the third party concerned.

ARTICLE 56 PACKING, HANDLING AND MOVING If the employees of the Company pack and handle the Lot bought on behalf of the Buyer according to the latter's requirements, this is considered as a service provided by the Company to the Buyer and the Company has the discretion to decide whether to provide this service, if any losses arise therefrom, the Buyer shall bear them itself. Under no circumstances shall the Company be responsible for any damage of the glass or picture frame, box, backing sheet, frame case, mounting, inserts, rolling rod or similar auxiliary objects caused by any reasons.

Where the Buyer requests the Company to assist it in collecting the purchased Lot (the packaging, mailing and transportation expenses shall be paid by the Buyer) by means of post, express delivery or transportation, the Company shall be deemed to have delivered the Lot and the Buyer shall be deemed to have collected such Lot according to the normal procedure upon the Company's delivery of the Lot to the post, express delivery and transportation entities, companies or their employees/branch offices. The risks arising from this process shall be borne by the Buyer. Unless Buyer gives a clear indication and pays insurance premium, no insurance is provided in the process of mailing, express delivery or transportation generally.

The Company shall undertake no liability for any error, omission, damage or destruction caused by the packaging company and post, express delivery and transportation entities or companies designated by the Buyer or recommended by the Company to the Buyer.

ARTICLE 57 IMPORT, EXPORT LICENSES AND PERMIT ﬔe Buyer shall be responsible for obtaining any import and export licenses, permit for endangered animals or other aspects related to the Lot. Failure or delay in obtaining any permits required shall not be deemed as a reason for cancelling the purchase or delaying in paying the Purchase Price. The Company shall not bear any responsibilities for the failure to properly fill in or submit the required import or export documents.

If the Buyer requests the Company to apply for the import and export licenses on its behalf, the Company has the right to charge service fees for this service. However, the Company does not warrant that the import or export license will be issued. The Company and the Seller has not made declaration or warranty in respect of whether or not any Lot is subject to import and export restrictions or any embargo.

ARTICLE 58 REMEDIES FOR NON-PAYMENT If the Buyer fails to make full payment according to the provisions of the Conditions of Business or any payment arrangements agreed with the Company, the Company has the right to adopt one or more of the following measures: 1. After the Lot is sold, if the Buyer fails to pay the Purchase Price within 7 days from the Sale Date (including the Sale Date), the auction deposit paid at the time of bidding registration shall not be refunded, and it shall at the same time bear the relevant responsibilities according the provisions of the Conditions of Business; if the Buyer has bought a few Lots with the same paddle, after the Lots are sold, if the Buyer has not paid the Purchase Price of any of the Lots within the time stipulated, then the entire auction deposit shall not be refunded, and it shall at the same time bear the relevant responsibilities according the provisions of the Conditions of Business; 2. If the Buyer fails to pay the Purchase Prices in full to the Company within 7 days from the Sale Date (including the Sale Date), the Company has the right to appoint a third party organization to collect the entire or part of the Purchase Prices that the Buyer owes;

3. If the Buyer fails to pay the Purchase Price in full within 7 days from the Sale Date (including the Sale Date), the Company has the right to charge interest at 0.03% per day on the unpaid portion starting from the 8th day after the Sale Date until the day on which the Buyer has fully paid the monies, with the exception that the Buyer has otherwise agreed with the Company; 4. The Buyer shall bear the risks and expenses of taking out an insurance policy, moving and storing the Lot in the Company or other places; 5. To sue the Buyer or apply to Arbitration Agency for mediation, demand for compensation for all the losses due to the breach of contract by the Buyer including but not limited to economic loss, legal expenses, default penalty and pass due interest caused by the delay in payment or refusal to make payments by the Buyer; 6. To retain that or any other Lot that the same Buyer has bought via the Company, and any other properties or rights to property of the Buyer that the Company holds for any reasons, all the expenses and/or risks incurred during the retention period shall be borne by the Buyer. If the Buyer fails to perform all its duties concerned within the period specified by the Company, the Company has the right to issue a lien notice tothe Buyer and dispose of the items under lien if the Buyer has not yet fully paid all outstanding amounts within 30 days after the issue of that notice. if the items under lien are insufficient to offset all the monies payable by the Buyer to the Company, the Company has the right to claim them; 7. The Company has sole discretion to cancel the sale or agree that the Consignor can cancel the deal, and reserve the right to claim all the losses suffered by the Company due to the cancellation of that deal; 8. ﬔe Company can place the Lot for auction again or sell it by other means according to the provisions of the Conditions of Business with the consent of the Seller, and the Company reserves the right to decide the Estimate and Reserve. ﬔe original Buyer shall pay the commission and other Buyer's Expenses and the Seller in the first auction, and it shall bear all the costs of the second auction or the sale of the Lotby other means. If the price obtained from the second auction or the sale of the Lot by other means is lower than the original auction sum, the original Buyer shall pay the shortfall; 9. To offset any monies related to the Lot that the Buyer owes the Company by any sums that the Company owes the Buyer in any other transactions; 10. ﬔe Company can decide to use any monies paid by the Buyer to repay any sums that the Buyer owes the Company in any other transactions; 11. To reject any bids made by the Buyer or its agent at future auctions, or to obtain auction deposit before accepting any bids; 12. To disclose the information of the Buyer to the Seller, so that the Seller can start a law suit to recover the outstanding amount, or claim damages and claim legal fees for breach of contract by the Buyer.

ARTICLE 59 REMEDIES FOR DELAY IN COLLECTING THE LOT If the Buyer fails to collect the purchased Lot 7 days after the Sale Date (including the Sale Date), the Company has the right to adopt one or more of the measures below: 1. All costs (including but not limited to the storage fee calculated and charged according to the provisions of the Bidder Registration Order starting from the 31st day from the Sale Date (including the Sale Date) and/or risks for the taking out of an insurance policy and/or storing the Lot in the Company or other places shall be borne by the Buyer. Only after the Buyer has paid the full amount of the Purchase Price, it can collect the Lot (packing and moving costs, insurance expenses, expenses related to export shall be at the Buyer's expense); 2. ﬔe Buyer shall bear all the risks and expenses incurred after the deadline as stated in the Conditions of Business if it cannot collect the Lot concerned within that deadline. If the Buyer has not yet collected the Lot within 30 days from the

Sale Date (including the Sale Date), after notifying the Buyer, the Company has the right to sell that Lot in a public auction or by a method and with methods and conditions that it considers suitable. Any proceeds after the deduction of all the losses, expenses (packing & moving costs, insurance costs, expenses related to export, Storage Fee, and notarial expenses etc.) incurred by the Company from the disposal shall be taken back by the Buyer; such balance is noninterest-bearing. If the Buyer fails to take the proceeds back two years after the Sale Date, the balance shall be deposited to a Hong Kong court by the Company after deducting the relevant expenses (including legal fees).

ARTICLE 60 LIMITED WARRANTY 1. ﬔe Company provides general warranty to the Buyer: If the Lot sold by the Company is later found to be a counterfeit, the Company will cancel that deal according to the terms of the Conditions of Business, and will return to the Buyer in the currency of the original deal the Hammer Price together with the Buyer's Commission that the Buyer has paid to the Company for the Lot. In this regard, based on the reasonable opinion of the Company, counterfeits refer to frauds in various aspects such as the source, place of origin, date, production year, duration, culture or sources etc. of the article, and the correct description of the above points have not been recorded in the contents of the catalogue (any special terminologies are taken into consideration). Any damage and/or any type of restored item and/or repaired items (including repaintingor painting on top of it) of the Lot shall not be considered as counterfeit.

Please pay attention that if any of the following situations happens, this warranty shall not apply; The contents of the catalogue are based on generally accepted opinion of academics and specialists on the selling date, or contradictions in opinions are shown in the contents of the catalogue; or On the selling date, the only method of proving the Lot is a counterfeit is not a method which can be used in general; which is recognized; which is extremely high price; the usage of such method is impractical; or this method may have caused damage to the Lot or may (according to the reasonable opinion of the Company) have already caused the Lot to lose value; or If the Lot has not lost any material value from the description of the Lot. 2. ﬔe deadline in this warranty is 5 years fromthe Auction Date concerned, these benefits are exclusively enjoyed by the Buyer, and shall not be transferred to any third party.

In order to make claims based on this warranty, the Buyer shall:-(1) notify the Company in writing within one month after the receipt of any information which leads the Buyer to doubt the authenticity or attributes of the Lot, specifying the reference number of the Lot, date on which the Lot is purchased and reasons for which it is considered as counterfeit; (2) return the Lot to the Company in the same conditions as it was on the date of sale, and the proper ownership of it is transferrable, plus there are no claims from any third party after the Sale Date.

3. Regarding Southeastern Asian modern and contemporary art, Chinese painting and Chinese calligraphy and Chinese ink painting, although at present the academic sector does not permit the making of definitive statements, the Company reserves the discretion to cancel those deals of Lots which are proved to be counterfeit southeastern Asian modern and contemporary arts, Chinese painting and Chinese calligraphy and Chinese ink paintings within one year after the Auction Date based on this warranty. Paid sums shall be returned to the Buyer according to this term, however the Buyer shall provide evidences (based on the methods provided forin clause 2 and 4 of this article) to prove that the Lot is counterfeit within one year from the Auction Date; 4. ﬔe Company can, at its discretion, decide to waive any of the above provisions. ﬔe Company has the right to demand from the Buyer two independent specialist reports which are recognized by the specialist sector concerned and which are accepted by the Company and the Buyer at the expense of

the Buyer. ﬔe Company shall not be subject to any report presented by the Buyer, and retains the right to seek additional expert opinion at the expense of the Company.

5. This limited warranty does not apply to auction categories, such as, jewellery, watches, designer handbags, alcohol, tea and other food and beverage items, etc.

ARTICLE 61 SPECIAL CATEGORIES 1. Statements about the status of jewellery items in the auctions are usually set out in the catalogue. However, it does not imply that the auctioned item has no defects, flaws or has not enhanced beautification after processing.

(1) Coloured gems (such as rubies, sapphires, emeralds and various coloured gems) may enhance beautification after processing or improved in appearance, including heat-treated, oiling and radiation. ﬔese common practises have been approved by the international jewellery industries. However, the hardness of the treated stones may be reduced and / or need special maintenance in the future.

(2) Our Company will not apply appraisal report from professional organisations for each piece of jewellery item in the auction. If an auctioned item has obtained the appraisal report from an internationally recognised gem laboratory, the Company will specify it in the auction catalogue. Due to the difference in methods and techniques used in different laboratories, there may be different views as to whether a gemstone has been treated, degree of treat or permanently treated. Our Company will not be responsible for the accuracy of the appraisal report issued by each laboratory.

(3) If you would like to request an appraisal report by a specific laboratory, please submit the request at least 14 working days before the auction date, the Company will apply for appraisal report on behalf of you, and the corresponding appraisal costs will borne by you.

(4) ﬔe valuation of an item of jewellery item in the auction is made based on all information being known at the time the item being auctioned, bidders should review the auctioned item or make a detailed understanding of the auctioned item before the auction. Once you have placed a bid, it is deemed that you have accepted all the current status of the auctioned items.

(5) Our Company reminds bidders that precious stones or emerald originating from Myanmar may be banned in certain countries.

2. Watches and Timepieces Auctioned items (1) Our Company has stated that the current status of a watch and timepieces auctioned items being known on the auction catalogue, and is for bidder's reference only.

Due to the fact that most timepieces have been repaired and maintained during the previous period being used, we do not guarantee that any parts and components of any watch are original, and it is possible that no pendulum, clock hammers or keys are for available for sale.

(2) Watches and timepieces generally have a very sophisticated mechanical manufacture that may require general warranty service, battery replacement or further repair works, and these will be all at the buyer's disposal.

Our Company does not guarantee that any auction of watches is in good working condition. Unless mentioned in the catalogue, otherwise we do not provide a certificate.

(3) Most watches have been opened to check the movement of the models and their quality, so with a waterproof case may not contain waterproof function, our Company recommends that you to ask a professional watch maker to check before use.

CHAPTER IV MISCELLANEOUS ARTICLE 62 OBTAINING INFORMATION, VIDEO-TAKING In connection with the operation of the auction business of the Company, the Company may make audio recording, video recording of any auction process, and need to

collect personal information from the Bidder or ask for the information of the Bidder from third parties (such as asking for credit review from banks). Such information will be handled and kept confidential by the Company.

However the information concerned may be provided to the Company, its divisions, affiliates and subsidiaries in order to assist the Company to provide comprehensive services to Bidders, carry out client analysis, or in order to provide services that meet the requirements of the Bidder. For the sake of the interest of the Bidder, the Company may also provide some personal information of the Bidder to third party service providers (such as cargo liners or storage houses). By participating in the auction of the Company, the Bidder agrees to all previously stated disclosure. If the Bidder would like to obtain or amend his personal information, please contact the customer service department.

ARTICLE 67 NOTICE

ARTICLE 63 CONFIDENTIALITY

ARTICLE 68 SEVERABILITY

The Company shall be obligated to keep confidentiality for the Seller, the Bidder and the Buyer and protect the legitimate rights of the Seller, the Bidder, the Buyer as well as the Company according to these Conditions of Business and the laws of Hong Kong. With below exceptions: 1.To any related parties as the Company considers appropriate with the obligations to maintain the confidentiality of the information extended; 2.To whom information is requested to be disclosed by any court, jurisdiction, governmental, banking, taxation or other regulatory authority, or by any applicable law or regulation; 3.Being agreed by relevant seller, bidder or buyer.

If any terms or parts of the Conditions are confirmed as void, illegal or cannot be executed, other terms or parts of the Conditions are still valid, the parties concerned shall abid by and execute them.

ARTICLE 64 AUTHENTICATION RIGHT The Company may authenticate the Lot if necessary. In case of any discrepancy between the authentication conclusion and the conditions of the Lot in the consignment auction contract, the Company shall have the right to request modification or rescission of the consignment auction contract.

ARTICLE 65 COPYRIGHT The Seller authorizes the Company to produce photos, illustrations, catalogue, video products and advertising materials in other forms of the Lot that it has appointed the Company to place for auction, the Company is entitled to the above photos, illustrations, catalogue, video products and advertising materials in other forms of the Lot, and has the right to use them. Without prior written consent of the Company, the Buyer and anyone shall not use them. ﬔe Company and the Seller have not made any statement and warranty as to whether the Lot is restricted by copyright or if the Buyer has obtained any copyright of the Lot.

ﬔe Bidder and the Buyer shall inform the Company their permanent and effective correspondent address and contact methods in the bidding registration documents or by other methods recognized by the Company. If there are changes, they shall inform the Company in writing immediately.

The notices mentioned in the Conditions of Business only refer to written notices sent by letter or fax formats.

A notice shall be deemed as served at the following moment: 1. If it is served by hand, when it reaches the address of the party concerned; 2. If it is sent by post, then it is the seventh day after it is posted; 3. If it is sent by fax, then it is the moment the outgoing fax transmission is confirmed by the fax machine.

ARTICLE 69 LAWS AND JURISDICTION The Conditions of Business and the related matters, transactions, any disputes caused by or in connection with the participation in the auction activities of the Company pursuant to the Conditions of Business shall be subject to Hong Kong laws and shall be interpreted by Hong Kong laws. The Company and the Buyer and the Bidder shall submit to the exclusive jurisdiction of Hong Kong courts.

Adjudication(s) promulgated by Hong Kong courts on any disputes arising from the Conditions of Business and related matters can be enforced in People's Republic of China.

ARTICLE 70 LANGUAGE The Chinese version of the Conditions of Business shall be the standard texts; the English version is for reference only.

Should there be any discrepancy between the English version and Chinese version, the Chinese version shall prevail.

ARTICLE 71 OWNERSHIP OF THE COPYRIGHT OF THE CONDITIONS The Conditions of Business is prepared and revised by the Company, the copyright concerned belongs to the Company. Without the prior written approval of the Company, no one shall use any methods or means to use the Conditions of Business to obtain business benefits, and shall not make duplication, of any parts of the Conditions of Business.

ARTICLE 66 EXEMPTION FROM LIABILITY

ARTICLE 72 APPLICABLE PERIOD

Being an agent of the Seller, the Company shall assume no liability for any breach of contract by the Seller or the Buyer. In case of the breach of contract by the Seller or the Buyer, the Company shall have the right to decide to disclose the other party's name and address to the Seller or the Buyer at its own discretion so that the damaged party may receive compensation for damages through legal proceedings. However, prior to the Company's disclosure of such materials to the Seller or the Buyer, the Company shall take the reasonable steps to notify the party whose materials are to be disclosed.

Buyers and sellers have to bear liabilities arisen from transactions including but not limited to, economic, legal, tax and settlement and other related responsibilities, and have to ensure transactions not relate to money laundering or other illegal benefit transfers. Any receive or payment instruction must be clear and direct, the Company shall assume no liability for losses arisen from account stolen, misappropriation of funds and other unforeseen circumstances resulting from mismanagement of sellers or buyers.

The Conditions of Business is only applicable for this auction. The Company may update the Conditions of Business from time to time, when the Bidder and the Buyer participate in another auction, the then applicable Conditions of Business shall prevail.

ARTICLE 73 RIGHT OF INTERPRETATION ﬔe right of interpretation of these Rules shall belong to the Company.

獜ć&#x160;&#x2022;ç&#x2122;ťč¨&#x2DC;é &#x2C6;ç&#x;Ľ IMPORTANT NOTICE ABOUT BIDDING REGISTRATION

â&#x20AC;&#x201D;ă&#x20AC; é&#x2013;Łä¸&#x2039;ĺ?&#x192; 獜ć&#x160;&#x2022;ç&#x2122;ťč¨&#x2DC;ć&#x2122;&#x201A;é &#x2C6;ÂŚÂ&#x153;獜ć&#x160;&#x2022;Ă&#x2013;ç&#x2122;ťč¨&#x2DC;襨Â&#x160;丌¸šć&#x153;&#x2030; é&#x2014;&#x153;躍䝽č­&#x2030;ć&#x2DC;&#x17D;ć&#x2013;&#x2021;äťśďź&#x152;Â?šäż?č­&#x2030;é&#x2021;&#x2018;ďź&#x152;䝼螌ç?&#x2020;ç&#x2122;ťč¨&#x2DC;ć&#x2030;&#x2039;Ăľă&#x20AC;&#x201A; I. When you register to bid in an auction, you must fill in the Bidding Registration Form, with all relevant documents as follow, and pay a deposit in order to complete the registration. Ă?ă&#x20AC; 獜ć&#x160;&#x2022;ç&#x2122;ťč¨&#x2DC;ć&#x2122;&#x201A;é &#x2C6;¸šäš&#x2039;ć&#x2013;&#x2021;äťś : 1. ½人ďź&#x161; Ă&#x2122;ĺ&#x2021;şé&#x2122;&#x201E;ć&#x153;&#x2030;Â&#x2030;Ă ç&#x161;&#x201E;躍䝽č­&#x2030;ć&#x2DC;&#x17D;ć&#x2013;&#x2021;äťś ( ĺŚ&#x201A;åâ躍䝽 č­&#x2030;ĺ?&#x160; / ć&#x2C6;&#x2013;ĂŁÂ&#x2030; )ďź&#x152;ĺ?&#x160;eć&#x2122;&#x201A;§¨č­&#x2030;ć&#x2DC;&#x17D; ( ĺŚ&#x201A;躍䝽č­&#x2030;ć&#x2DC;&#x17D;ć&#x2013;&#x2021;äťść&#x153;Şć&#x153;&#x2030;1 示 )ďź&#x152;ĺŚ&#x201A;ĺ&#x2026;Źç&#x201D;¨ÂŠćĽ­ÂŠÂˇĺ?&#x160; / ć&#x2C6;&#x2013;ÂŞčĄ&#x152;Â&#x192;¡ă&#x20AC;&#x201A; 2. ĺ&#x2026;Źĺ?¸[\ďź&#x161;ĺ&#x2026;Źĺ?¸[漭ç&#x2122;ťč¨&#x2DC;č­&#x2030;ĺ?&#x160;Ìçč­&#x2030;ć&#x2DC;&#x17D;ć&#x2013;&#x2021;äťśă&#x20AC;&#x201A; 3. 䝣ç?&#x2020;äşşďź&#x161;䝣ç?&#x2020;äşşé&#x2122;&#x201E;ć&#x153;&#x2030;Â&#x2030;Ă ç&#x161;&#x201E;躍䝽č­&#x2030;ć&#x2DC;&#x17D;ć&#x2013;&#x2021;äťś , 䝣ç?&#x2020;äşşć&#x2030;&#x20AC;䝣 襨äš&#x2039;獜ć&#x160;&#x2022;人¾ / ĺ&#x2026;Źĺ?¸äš&#x2039;č­&#x2030;ć&#x2DC;&#x17D;ć&#x2013;&#x2021;äťś , 䝼ĺ?&#x160;芲人¾ / ĺ&#x2026;Źĺ?¸vĂ&#x2122; ç&#x161;&#x201E;è 7ć&#x153;Źă&#x20AC;&#x201A;"čŤ&#x2039;注ć&#x201E;? , äż?ĺ&#x2C6;ŠéŚ&#x2122;港ć&#x2039;?賣ä¸?ÂŚĺ?&#x2014;ĂŻĂŠć&#x2013;šäť&#x2DC; 揞 - Ă&#x2021;čŚ?ĺŽ&#x161; ¤ç&#x201D;¨ć&#x2013;źäťŁç?&#x2020;äşşă&#x20AC;&#x201A;ĺŚ&#x201A;é&#x2013;Łä¸&#x2039;䝣襨 äşşĺ?&#x192; 獜ć&#x160;&#x2022;ďź&#x152; äż?ĺ&#x2C6;ŠéŚ&#x2122;港ć&#x2039;?賣Ă&#x2039;ÂŚĺ?&#x2014; äşşäš&#x2039;äť&#x2DC;揞ă&#x20AC;&#x201A; 4. ø[\䝼ĺ?&#x160;ć&#x153;Şĺ&#x153;¨!0äż?ĺ&#x2C6;Š ¢ć&#x2039;?賣ć&#x153;&#x2030;é&#x2122;?ĺ&#x2026;Źĺ?¸ć&#x2C6;?t獜ć&#x160;&#x2022;ć&#x2039;? 賣ĺ&#x201C; ç&#x161;&#x201E;[\ďź&#x152;ć&#x153;Źĺ&#x2026;Źĺ?¸ć&#x153;&#x2030;ĂŹĺ°? ĺ?&#x2018;é&#x2013;Łä¸&#x2039;čŚ ćą&#x201A;¸šªčĄ&#x152;Ă&#x2122;ĺ&#x2021;ş äš&#x2039;¢ç&#x201D;¨č­&#x2030;ć&#x2DC;&#x17D;ă&#x20AC;&#x201A;ÂŁ 1Â&#x201D;ĺ?&#x192; 獜ć&#x160;&#x2022;ç&#x161;&#x201E;ø[\ć&#x2013;źć&#x2039;?賣ć&#x153;&#x192;ĺ&#x2030;? a 3 ½žÂ&#x2026;Âżĺ&#x2030;?螌ç?&#x2020;ç&#x2122;ťč¨&#x2DC;ďź&#x152;䝼䞿ć&#x153;&#x2030;2 ç&#x161;&#x201E;ć&#x2122;&#x201A;^č&#x2122;&#x2022;ç?&#x2020;ç&#x2122;ťč¨&#x2DC;čł&#x2021;ć&#x2013;&#x2122;ă&#x20AC;&#x201A; II. Documents that must be provided when completing the bidding paddle registration: (1) Individuals: photo identity i.e. national identity card and/ or passport; proof of current address (if the current address is not shown on the identity document), i.e. utility bill or bank statement.

(2) Corporate clients: a certificate of incorporation and oďŹ&#x192;cial documents listing directors and shareholders.

(3) Agents and/or Acting Personnel: photo identity of the agent and/or acting personnel, copy of identity document of the person/company that the agent and/or acting personnel acts on, original copy of signed and/or chopped authorization letter from the particular person/ company.

Please note that Poly Auction (Hong Kong) Limited does not accept any payment from any third party and this also applies to agent. If you participate in the bidding on behalf of others, Poly Auction (Hong Kong) only accepts the payment of the principal.

(4) New clients and those clients who have not bidden successfully from Beijing Poly Intemational Auction Co., Ltd., must provide credit proof issued by banks, and must complete the registration at least three business days before the auction so that there will be enough time to process the registration. ĂŠă&#x20AC; č&#x2039;Ľé&#x2013;Łä¸&#x2039;ć&#x2DC;Ż1Â&#x201D;ĺ?&#x192; 獜ć&#x160;&#x2022;ďź&#x152;ĺ?&#x152;ć&#x2122;&#x201A;ć&#x153;Ş äż?ĺ&#x2C6;ŠéŚ&#x2122;港ć&#x2039;?賣ć&#x153;&#x2030; é&#x2122;?ĺ&#x2026;Źĺ?¸Â§ĺ?Żç&#x161;&#x201E; ĂĽ[\*Ă?ďź&#x152;äż?č­&#x2030;é&#x2021;&#x2018;ç&#x201A;şć¸ŻÂ 500,000 Â?ă&#x20AC;&#x201A; ĺŚ&#x201A;é&#x2013;Łä¸&#x2039;ĂżçŽ&#x2014;獜ć&#x160;&#x2022;âŽĺ&#x192;šć&#x2039;?賣ĺ&#x201C; ( ĺ&#x153;¨ĺ&#x153;&#x2013;é&#x152;&#x201E;ĺ&#x2026;§ĺ?&#x160; / ć&#x2C6;&#x2013; {ĺ&#x153;&#x2013;é&#x152;&#x201E; ĺ&#x2026;§yć&#x153;&#x2030;3珌č&#x2122;&#x;äš&#x2039;ć&#x2039;?賣ĺ&#x201C; )ďź&#x152;äż?č­&#x2030;é&#x2021;&#x2018;ç&#x201A;şć¸ŻÂ 1,000,000 Â?ă&#x20AC;&#x201A; äż?ĺ&#x2C6;ŠéŚ&#x2122;港ć&#x2039;?賣ć&#x153;&#x2030;ĂŹĺ°? Â&#x2122;ć&#x2122;&#x201A;Ă­Ă&#x2013;âŽĺ&#x192;šć&#x2039;?賣ĺ&#x201C; äš&#x2039;äż?č­&#x2030;é&#x2021;&#x2018; ĺ?&#x160; / ć&#x2C6;&#x2013;ć&#x2030;&#x2039;Ăľ , č&#x20AC;&#x152;ä¸?é&#x153;&#x20AC;čŚ ĺ?ŚčĄ&#x152;é&#x20AC;&#x161;ç&#x;Ľă&#x20AC;&#x201A;ĺ&#x153;¨é&#x2013;Łä¸&#x2039;獜ć&#x160;&#x2022;ĺ&#x2030;? , ć&#x153;Źĺ&#x2026;Źĺ?¸ ć&#x153;&#x2030;ĂŹĺ°? ĺ?&#x2018;é&#x2013;Łä¸&#x2039;čŚ ćą&#x201A;¸š䝝ä˝&#x2022;ć&#x153;&#x2030;é&#x2014;&#x153;é&#x2013;Łä¸&#x2039;ç&#x161;&#x201E;貥ĺ&#x2039;&#x2122;č­&#x2030;ć&#x2DC;&#x17D;ă&#x20AC;&#x201A; ć&#x153;Źĺ&#x2026;Źĺ?¸ć&#x153;&#x2030;ĂŹĺ°? ³Ï䝝ä˝&#x2022;äşşäš&#x2039;獜ć&#x160;&#x2022;ç&#x2122;ťč¨&#x2DC;č&#x20AC;&#x152;ä¸?é&#x153;&#x20AC;羌äş&#x2C6;äťťä˝&#x2022; 解 ă&#x20AC;&#x201A; III. If this is the first time you bid with Poly Auction (Hong Kong) Limited, and you are not recommended by a registered client endorsed by us, the deposit will be HK$500,000. If you intend to bid on a â&#x20AC;&#x153;Premium Lotâ&#x20AC;?(i.e., a lot marked with 3 in the printed catalogue and/or the digital catalogue), the deposit will be HK$1,000,000, please be aware the amount of deposit and/or bidding registration procedure for â&#x20AC;&#x153;Premium Lotâ&#x20AC;? can be changed at any time at Poly Auction(Hong Kong)â&#x20AC;&#x2122;s sole discretion without prior notice.

In either case, you must deliver to Poly Auction (Hong Kong) Limited such necessary financial references, guarantees, deposits and/or such other security as Poly Auction (Hong Kong) Limited may in its absolute discretion require for before your bid. Poly Auction (Hong Kong) Limited may refuse any bidding registration without any explanation at itsâ&#x20AC;&#x2122; sole discretion.

Ăśă&#x20AC; ć&#x2030;&#x20AC;ć&#x153;&#x2030;äż?č­&#x2030;é&#x2021;&#x2018;Â&#x2021;é &#x2C6;䝼 Ă&#x160;ć&#x2C6;&#x2013;äż?ĺ&#x2C6;ŠéŚ&#x2122;港ć&#x2039;?賣ć&#x153;&#x2030;é&#x2122;?ĺ&#x2026;Źĺ?¸Â§ĺ?Ż äš&#x2039;¢ç&#x201D;¨4 / ÂŞÂť4䝼港 äť&#x2DC;揞 ( é&#x2013;Łä¸&#x2039;Â&#x2021;é &#x2C6;Ă&#x2C6;č&#x2021;Ş2ç&#x201D;¨Ă¸Â&#x2039;ä¸&#x2039; ç&#x161;&#x201E;¢ç&#x201D;¨4 / ÂŞÂť4 )ă&#x20AC;&#x201A;ĺŚ&#x201A;é&#x2013;Łä¸&#x2039;ć&#x153;Şč&#x192;˝ć&#x160;&#x2022; äťťä˝&#x2022;ć&#x2039;?賣ĺ&#x201C; , äż?ĺ&#x2C6;ŠéŚ&#x2122; 港ć&#x2039;?賣ĺ°&#x2021;Ă˝&ĺ&#x153;¨ć&#x2039;?賣Ă&#x201C; $ܽžÂ&#x2026;Â&#x201A;ĺ&#x2026;§L´é&#x2013;Łä¸&#x2039;塲äť&#x2DC; ç&#x161;&#x201E;äż?č­&#x2030;é&#x2021;&#x2018; ( ä¸?ĺ&#x152;&#x2026;ĺ?Ťĺ&#x2C6;Š$ )ă&#x20AC;&#x201A;ĺŚ&#x201A;é&#x2013;Łä¸&#x2039;ć&#x2C6;?ç&#x201A;şč˛ˇĺŽśďź&#x152;äż?ĺ&#x2C6;ŠéŚ&#x2122;港ć&#x2039;? 賣ć&#x153;&#x2030;é&#x2122;?ĺ&#x2026;Źĺ?¸ć&#x153;&#x2030; ĺ°&#x2021;芲äż?č­&#x2030;é&#x2021;&#x2018;Â&#x2026;ç&#x201A;şć&#x201D;Żäť&#x2DC;ć&#x2039;?賣ĺ&#x201C; Ă&#x201E;財ĺ&#x192;šćŹžç&#x161;&#x201E;揞 Uă&#x20AC;&#x201A;äťťä˝&#x2022;Jĺ?&#x160;L揞ç&#x161;&#x201E;­Ă&#x2122;§Ă?>ć&#x2C6;&#x2013;Âťç&#x201D;¨ďź&#x152;ĺ°&#x2021;ç&#x201D;ąé&#x2013;Łä¸&#x2039;ć&#x2030;żć&#x201C;&#x201D;ă&#x20AC;&#x201A; IV. All deposits must be paid in HK dollars by telegraphic transfer, credit card acceptable to Poly Auction (Hong Kong) Limited and/or Union Pay Card under your name. If you are not successful in any bid,the deposit (without interest) will be returned to you by any method as determined by Poly Auction (Hong Kong ) Limited within 14 days after the end of the auction. If you successfully bid for any lot(s), Poly Auction (Hong Kong) Limited may use the deposit to offset any amount of purchase price of the lot(s) that bought by you.

Any losses or expenses from foreign currency conversion involved in the refund will be borne by you. |ă&#x20AC; ć&#x153;Źĺ&#x2026;Źĺ?¸ć&#x153;&#x2030; čŚ ćą&#x201A;獜ć&#x160;&#x2022;人¸š貥ĺ&#x2039;&#x2122;ç&#x2039;&#x20AC;ćł č­&#x2030;ć&#x2DC;&#x17D;ă&#x20AC; ć&#x201C;&#x201D;äż?ă&#x20AC; Ăą 揞č­&#x2030;ć&#x2DC;&#x17D;ďź&#x152;ć&#x2C6;&#x2013;ć&#x153;Źĺ&#x2026;Źĺ?¸ĺ?ŻčŚ ćą&#x201A;獜ć&#x160;&#x2022;äşşç&#x201A;ş ć&#x153;&#x2030;ć&#x201E;?獜ć&#x160;&#x2022;ç&#x161;&#x201E;ć&#x2039;?賣ĺ&#x201C; ¸ š ă&#x20AC;&#x201A;ć&#x153;Źĺ&#x2026;Źĺ?¸äż?Ă&#x17D;Ă­ć&#x;ĽçŤść&#x160;&#x2022;äşşčł&#x2021;é&#x2021;&#x2018;IĂ&#x20AC;ç&#x161;&#x201E; ĺ&#x2C6;Šă&#x20AC;&#x201A; V. Poly Auction (Hong Kong) Limited has the right to demand the Bidder to provide any proof of financial conditions, guarantee, proof of bank deposit and/or any other necessary documents that our company can demand, at its absolute discretion, and/or asking the Bidder to provide any other collateral for the Lot(s) that the latter intends to bid. Our company reserves the right to investigate the sources of funds of the Bidder. ^ă&#x20AC; ć&#x153;Źĺ&#x2026;Źĺ?¸ć&#x153;&#x2030;ĂŹĺ°? ³Ï䝝ä˝&#x2022;äşşäš&#x2039;獜ć&#x160;&#x2022;ç&#x2122;ťč¨&#x2DC;č&#x20AC;&#x152;ä¸?é&#x153;&#x20AC;羌äş&#x2C6; äťťä˝&#x2022;解 ă&#x20AC;&#x201A; VI. Please be aware that Poly Auction (Hong Kong) Limited can refuse any bidding registration without any explanation at itsâ&#x20AC;&#x2122; sole discreation.

貥ĺ&#x2039;&#x2122;äť&#x2DC;揞é &#x2C6;ç&#x;Ľ IMPORTANT NOTICE ABOUT PAYMENT

ä¸&#x20AC;ă&#x20AC; ć&#x2039;?賣ć&#x2C6;?§ ďź&#x152;財厜ć&#x2021;&#x2030;ć&#x201D;Żäť&#x2DC;č?˝ć§&#x152;ĺ&#x192;š ĺ?&#x160; ć&#x2021;&#x2030;佣é&#x2021;&#x2018;ă&#x20AC;&#x201A;ć&#x2039;?賣ć&#x2C6;?§Â&#x201A; ( ĺ?Ťć&#x2C6;?§Â&#x201A; ) %AÂ&#x201A;ĺ&#x2026;§ďź&#x152;財厜ć&#x2021;&#x2030;ĺ?&#x2018;ć&#x153;Źĺ&#x2026;Źĺ?¸äť&#x2DC; Ă&#x201E;財 ĺ&#x192;šćŹžä¸ŚÂ¸ ć&#x2039;?賣ĺ&#x201C; , 2財厜56ĺ°&#x2021; ć&#x2039;?賣ĺ&#x201C; ĺ&#x2021;şĺ?Ł , 丌é&#x153;&#x20AC;čŚ ć&#x2C6;&#x2013;ĺ?Żč&#x192;˝é&#x153;&#x20AC;čŚ ĺ&#x2021;şĺ?Ł ĺ?Żč­&#x2030; , Ă&#x2021;ä¸&#x20AC; 揞 ¤ç&#x201D;¨ă&#x20AC;&#x201A; I. In addition to the Hammer Price, the Buyer agrees to pay the applicable commission in respect of such Hammer Price. Payment must be made within 7 calendar days (including the day of Sale) from the day of sale. ďŹ&#x201D;is applies even if the Buyer wishes to export the lot and export license is (or may be) required. Ă?ă&#x20AC; č&#x2021;Şć&#x2039;?賣ć&#x2C6;?§Â&#x201A; ( ĺ?Ťć&#x2C6;?§Â&#x201A; ) ç&#x161;&#x201E;ĂŻ ĂŠ$ä¸&#x20AC;Â&#x201A;%ďź&#x152;財厜é &#x2C6;ç&#x201A;şć&#x153;ŹÂ&#x201D;ć&#x2039;?賣ć&#x153;&#x192;ć&#x153;Ş ç&#x161;&#x201E;ć&#x2039;?賣ĺ&#x201C; ć&#x201D;Żäť&#x2DC;Ă&#x2021;ùďź&#x152;ćŻ?äťśćŻ?Â&#x192; 港 Â?OÂ?ă&#x20AC;&#x201A;Ă&#x2021;Ăąä¸? ä¸&#x20AC;½Â&#x192;Ă´ďź&#x152; é &#x2C6;Â?äť&#x2DC;Ă&#x2013;Â&#x192;Ă&#x2021;ùă&#x20AC;&#x201A;Ă&#x2021;ùä¸?ĺ&#x152;&#x2026;ć&#x2039;Ź Âż Âťç&#x201D;¨ďź&#x152;ĺŚ&#x201A;äż?ÂŁă&#x20AC; ĺ&#x152;&#x2026; Â&#x2019;Â&#x201E;Ă&#x2020;Âťďź&#x152; Âż Âťç&#x201D;¨ĺ°&#x2021;ć&#x153;&#x192;ĺ?ŚčĄ&#x152;P ă&#x20AC;&#x201A; II. Where Lot(s) is(are) not collected within 30 calendar days (including the day of sale) from the day of sale, the Buyer must pay the monthly storage fee of HK$800 per lot starting from the 31st day. For storage less than one month, one whole monthâ&#x20AC;&#x2122;s storage fee will be charged. All other additional expenses such as insurance, packing and/or transportation costs will be charged separately. ĂŠă&#x20AC; ć&#x153;Źĺ&#x2026;Źĺ?¸ÂŚĺ?&#x2014;䝼ä¸&#x2039;X\äť&#x2DC;揞ć&#x2013;šĺź?ďź&#x161; é&#x203A;ťĺ&#x152;Ż äť&#x2DC;揞ć&#x2013;šĺź? Ă&#x17D;䝼 Ă&#x160;ç&#x161;&#x201E;ć&#x2013;šĺź? ÂŚuN ć&#x153;Źĺ&#x2026;Źĺ?¸ç&#x161;&#x201E;ÂŞčĄ&#x152;Š\ă&#x20AC;&#x201A;čŤ&#x2039;ĺ°&#x2021;Ă&#x160;揞º示Â&#x2DC; ĺ?&#x152;øç&#x161;&#x201E;Â&#x160;Â&#x2039;ĺ?&#x160;獜ć&#x160;&#x2022;Ă&#x2013;č&#x2122;&#x;ć&#x2C6;&#x2013;Ă&#x2122;7č&#x2122;&#x;8ä¸&#x20AC; %§äş&#x2C6;ÂŞčĄ&#x152;ă&#x20AC;&#x201A; \čĄ&#x152;ďź&#x161;éŚ&#x2122;港ä¸&#x160;yĂ&#x160;9ÂŞčĄ&#x152;ć&#x153;&#x2030;é&#x2122;?ĺ&#x2026;Źĺ?¸ \Â&#x2039;ďź&#x161;äż?ĺ&#x2C6;ŠéŚ&#x2122;港ć&#x2039;?賣ć&#x153;&#x2030;é&#x2122;?ĺ&#x2026;Źĺ?¸ č&#x2122;&#x;8ďź&#x161;004-848-360475-838 P揞ªčĄ&#x152;䝣č&#x2122;&#x; : HSBCHKHHHKH ÂŞčĄ&#x152;䝣8 : 004 \čĄ&#x152;ďź&#x161;§é&#x20AC;&#x161;ÂŞčĄ&#x152;ĂŚäť˝ć&#x153;&#x2030;é&#x2122;?ĺ&#x2026;Źĺ?¸éŚ&#x2122;港 čĄ&#x152; \Â&#x2039;ďź&#x161;äż?ĺ&#x2C6;ŠéŚ&#x2122;港ć&#x2039;?賣ć&#x153;&#x2030;é&#x2122;?ĺ&#x2026;Źĺ?¸ č&#x2122;&#x;8ďź&#x161;027-536-9-311-5318 P揞ªčĄ&#x152;䝣č&#x2122;&#x; : COMMHKHH ÂŞčĄ&#x152;䝣8 : 027 俥ç&#x201D;¨ĺ?Ą / é&#x160;&#x20AC;č Żĺ?Ą 財厜ĺŚ&#x201A;䝼äż?ĺ&#x2C6;ŠéŚ&#x2122;港ć&#x2039;?賣§ĺ?Żäš&#x2039;¢ç&#x201D;¨4 ĺ?&#x160; / ć&#x2C6;&#x2013;ÂŞÂť4ć&#x2013;šĺź?ć&#x201D;Żäť&#x2DC;Ă&#x201E;財ĺ&#x192;šćŹžďź&#x152;ĺ&#x2030;&#x2021; é&#x153;&#x20AC;ć&#x2030;żć&#x201C;&#x201D; ç&#x2022;ść&#x2013;źäť&#x2DC;揞é&#x2021;&#x2018;Âżä¸?[ć&#x2013;ź 2.5% äš&#x2039;čĄ&#x152; Âťç&#x201D;¨ă&#x20AC;&#x201A;ć&#x153;Źĺ&#x2026;Źĺ?¸ÂŚĺ?&#x2014;¢ç&#x201D;¨4äť&#x2DC;揞 äš&#x2039;ä¸&#x160;é&#x2122;?ç&#x201A;şć¸ŻÂ 1,000,000 Â? ( ćŻ?ä¸&#x20AC;ĺ ´ ć&#x2039;?賣 )ă&#x20AC;&#x201A;ĺŚ&#x201A;財厜䝼°4äşşä¸?ĺ&#x153;¨ĺ ´ć&#x2013;šĺź? 䝼¢ç&#x201D;¨4ć&#x201D;Żäť&#x2DC;Â?揞ďź&#x152;[\Â&#x2021;é &#x2C6;ÂŚÂ&#x153;â&#x20AC;? ¢ç&#x201D;¨4äť&#x2DC;揞è â&#x20AC;? ďź&#x152; 丌䝼ÏĂ&#x17E; (852 23039888 ) / Â&#x2C6; (cs@polyauction. com.hk ) ć&#x2C6;&#x2013;Â&#x2C6;Ić&#x2013;šĺź?Ă&#x20AC;´ć&#x153;Źĺ&#x2026;Źĺ?¸Â&#x152;¨ďź&#x152; é &#x2C6;ĺ?&#x2014;ć&#x153;&#x2030;é&#x2014;&#x153; 揞ŒĂ&#x201C;ă&#x20AC;&#x201A; ć&#x201D;ŻçĽ¨ ć&#x153;Źĺ&#x2026;Źĺ?¸ÂŚĺ?&#x2014;½人ć&#x201D;Ż7 ĺ&#x2026;Źĺ?¸ć&#x201D;Ż7ďź&#x152;ä˝&#x2020; čŤ&#x2039;Ă&#x17D;ć&#x201E;?財厜é &#x2C6;ć&#x2013;źć&#x201D;Ż7ć&#x2030;żÂ­ ć&#x2013;šĺ?ŻÂ¸ ć&#x2039;? 賣 ĺ&#x201C; ă&#x20AC;&#x201A; ć&#x153;Ź ĺ&#x2026;Ź ĺ?¸ ä¸? ÂŚ ĺ?&#x2014; A čĄ&#x152; ć&#x201D;Ż 7 äť&#x2DC;

揞ă&#x20AC;&#x201A; ç?žé&#x2021;&#x2018; / é&#x160;&#x20AC;čĄ&#x152;ć&#x153;ŹçĽ¨ ĺŚ&#x201A;䝼eé&#x2021;&#x2018;ć&#x2C6;&#x2013;ÂŞčĄ&#x152;ć&#x153;Ź7Â?äť&#x2DC;揞Uďź&#x152;ĺ&#x2030;&#x2021;ĺ?Ż S ¸ ć&#x2039;?賣ĺ&#x201C; ă&#x20AC;&#x201A;Â&#x153;ć&#x153;Źĺ&#x2026;Źĺ?¸Bä¸?ÂŚĺ?&#x2014; 䝼ä¸&#x20AC;Ă&#x2014;ć&#x2C6;&#x2013;[Â&#x201D;äť&#x2DC;揞形ĺź?ç&#x201D;¨eé&#x2021;&#x2018;ć&#x201D;Żäť&#x2DC; Ă&#x2019;港 80,000 Â?ć&#x2C6;&#x2013;ĺ?&#x152;ç­&#x2030;ĺ&#x192;šĺ&#x20AC;ź  äš&#x2039; 揞Uďź&#x152;ć&#x153;Źĺ&#x2026;Źĺ?¸ć&#x153;&#x2030; ĺ?&#x2018;ć&#x201D;Żäť&#x2DC;eé&#x2021;&#x2018;ç&#x161;&#x201E;財厜 ć&#x2C6;&#x2013;ø[\P ć&#x153;&#x2030;Ă&#x153;躍䝽č­&#x2030;ć&#x2DC;&#x17D;ć&#x2013;&#x2021;äťśă&#x20AC; é&#x20AC;&#x161; %§¨č­&#x2030;ć&#x2DC;&#x17D;ĺ?&#x160;eé&#x2021;&#x2018;IĂ&#x20AC;č­&#x2030;ć&#x2DC;&#x17D;ă&#x20AC;&#x201A; III. Our company accepts the following types of payment: TELEGRAPHIC TRANSFER Payment should preferably be made by telegraphic transfer directly to our companyâ&#x20AC;&#x2122;s account. Please include your name and paddle number or invoice number with your instructions to the bank.

Bank: The Hongkong and Shanghai Banking Corporation Limited Account Name: Poly Auction (Hong Kong) Ltd. Account No: 004-848-360475-838 SWIFT: HSBCHKHHHKH Bank Code: 004 Bank: Bank of Communications Co., Ltd. Hong Kong Branch Account Name: Poly Auction (Hong Kong) Ltd. Account No: 027-536-9-311-5318 SWIFT: COMMHKHH Bank Code: 027 CREDIT CARD/UNIONPAY CARD Our company accepts payments by credit cards and/ or Union Pay which is acceptable to Poly Auction (Hong Ko n g ) u p t o H K $ 1 , 0 0 0 , 0 0 0 p e r auction sale. The Buyer have to bear the administrative charge which is not more than 2.5% of the paid amount.

If buyer pay by credit card but not in person, client have to ďŹ ll in the â&#x20AC;&#x153;Credit Card Authoirsation Formâ&#x20AC;? and send back by fax (852 23039888)/ email (cs@polyauction.com.hk) or mail to our oďŹ&#x192;ce address (subject to conditions).

CHEQUE Our company accepts personal and company cheques, but please be reminded that the purchases will not be released until such cheques have been cleared. Travelerâ&#x20AC;&#x2122;s cheques are not accepted.

CASH / CASHIER ORDER If payment is made by cash or cashier order, the purchases will be released immediately. However, our company does not accept sums exceeding HK$80,000 (or its equivalent in other currencies) in cash in a single or multiple payments. Our company requests any new clients or purchasers preferring to make a cash payment to provide proof of identity and proof of the permanent address. We reserve the right to seek identiďŹ cation of the source of funds received.

Ăśă&#x20AC; ć&#x2030;&#x20AC;ć&#x153;&#x2030;ĺ&#x192;šćŹžć&#x2021;&#x2030;䝼港 ć&#x201D;Żäť&#x2DC;ă&#x20AC;&#x201A;ĺŚ&#x201A;財厜 䝼港 䝼 ç&#x161;&#x201E; Â? ć&#x201D;Żäť&#x2DC;ďź&#x152;ć&#x2021;&#x2030;ć&#x152;&#x2030;財 厜 ć&#x153;Źĺ&#x2026;Źĺ?¸ÂŚĺŽ&#x161;ç&#x161;&#x201E;Ă&#x160;ĺ&#x192;šĂ?çŽ&#x2014;ć&#x2C6;&#x2013;ć&#x152;&#x2030;Â&#x2030;ć&#x153;Ź ĺ&#x2026;Źĺ?¸Â˝Âžäš&#x2039;ÂŞčĄ&#x152;ć&#x2013;źč˛ˇĺŽśäť&#x2DC;揞Â&#x201A;ĺ&#x2030;?ä¸&#x20AC;½ žÂ&#x2026;Â&#x201A;ĺ&#x2026;Ź ç&#x161;&#x201E;港 芲Â? ç&#x161;&#x201E;Ă&#x160;ĺ&#x192;šĂ? çŽ&#x2014;ďź&#x152;丌䝼ć&#x153;Źĺ&#x2026;Źĺ?¸ć&#x2030;&#x20AC;Ă&#x2122;ĺ&#x2021;şäš&#x2039;¡ć&#x201C;&#x161;ä¸&#x160;ć&#x2030;&#x20AC;ĺ&#x2C6;&#x2014; äš&#x2039;Ă&#x160;Â&#x20AC;ç&#x201A;şĂľă&#x20AC;&#x201A;財厜č&#x2021;ŞčĄ&#x152;ć&#x2030;żć&#x201C;&#x201D;ć&#x2030;&#x20AC;ć&#x201D;Żäť&#x2DC;äš&#x2039; 芲\  ­Ă&#x2122;ć&#x2C6;?港 ć&#x2030;&#x20AC; č&#x2021;´äš&#x2039;ć&#x2030;&#x20AC;ć&#x153;&#x2030;ÂŞ čĄ&#x152;ć&#x2030;&#x2039;þă&#x20AC; 佣é&#x2021;&#x2018;ĺ?&#x160; / ć&#x2C6;&#x2013; Âťç&#x201D;¨ă&#x20AC;&#x201A; IV. If the payment made in a currency other than Hong Kong Dollars, we shall charge the Buyer for any currency costs incurred. This will include bank charges, commissions for converting the currency. The exchange rate of Hong Kong Dollars and that currency will be the rate quoted by such bank as selected by the company, in Hong Kong on the date of payment. |ă&#x20AC; ć&#x153;Źĺ&#x2026;Źĺ?¸ĺ°&#x2021;ĺ?&#x2018;獜ć&#x160;&#x2022;ç&#x2122;ťč¨&#x2DC;襨Â&#x160;ä¸&#x160;ç&#x161;&#x201E;Â&#x160; Â&#x2039;ĺ?&#x160;Â&#x152;¨Ă&#x2122;ĺ&#x2021;şÂ&#x20AC;ĺ&#x2021;şć&#x2039;?賣ĺ&#x201C; ç&#x161;&#x201E;Š¡ďź&#x152;ä¸&#x201D; ç&#x2122;ťč¨&#x2DC;ç&#x161;&#x201E;Â&#x160;Â&#x2039;ĺ?&#x160;Â&#x152;¨ä¸? Ă&#x2DC;ć&#x201D;šă&#x20AC;&#x201A; V. Our company will issue an invoice of sold lot (s) based on the name and address which is (are) on the Bidding Registration Form and the registered name and address should not be changed and/ or amended. ^ă&#x20AC; ć&#x153;Źĺ&#x2026;Źĺ?¸ä¸?ÂŚĺ?&#x2014;¼財厜 ç&#x161;&#x201E;äťťä˝&#x2022;ĂŻ ĂŠ ć&#x2013;š äť&#x2DC; 揞ă&#x20AC;&#x201A; Ă&#x2021; U čŚ? ĺŽ&#x161; ¤ ç&#x201D;¨ ć&#x2013;ź 䝣 ç?&#x2020; äşşă&#x20AC;&#x201A;ĺŚ&#x201A;䝣ç?&#x2020;人䝣襨 äşşĺ?&#x192; 獜ć&#x160;&#x2022;ďź&#x152;Ă&#x2039; ÂŚĺ?&#x2014; äşşç&#x161;&#x201E;äť&#x2DC;揞ă&#x20AC;&#x201A;ÂĽÂŚĺ?&#x2014;財厜äť&#x2DC;揞 ďź&#x152;ć&#x153;Źĺ&#x2026;Źĺ?¸äż?Ă&#x17D;ÂłP IĂ&#x20AC;äť&#x2DC;揞ç&#x161;&#x201E; ĺ&#x2C6;Šă&#x20AC;&#x201A; VI. Our company does not accept payment from any third party other than the Buyer. This applies to agent as well. If the agent participates in the auction on behalf of any others, we only accept payment from the principal.

Except payment from the Buyer directly, our company reserves the right to reject payments from other sources.

保 利 香 港 拍 賣 有 限 公 司 (“ 保 利 香 港 拍 賣 ”)

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如閣下計F出Õ本 拍賣並競投拍賣品，請¦¬以下表 並於拍賣 O 3 ½¾ ìÞ (852) 2303 9888 或 I到本公司 ¨如下。 本欄由保利香港拍賣專用

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Suite 701-708, 7/F, One Pacific Place, 88 Queensway, Admiralty, Hong Kong 香港金鐘金鐘E 88 號FG'場 1 O 7 H 701-708 T: + 852 2303 9899 F: + 852 2303 9888 E: cs@polyauction.com.hk W: www.polyauction.com.hk

POLY AUCTION (HONG KONG) LIMITED (“POLY AUCTION (HONG KONG)”)

BIDDING REGISTRATION FORM Paddle No. Client No. Personal Account

Company Account

Name

Company Name

ID / Passport No.

Business Registration No.

Authorized Person : ___________________________________

ID/Passport No. : ______________________ Telephone: _________________________

Address City

Country

Postal Code

Telephone

Fax

Email

Auction Category:

□ Modern and Contemporary Art □ Fine Modern Chinese Paintings and Calligraphy □ Classical Chinese Paintings and Calligraphy □ Chinese Contemporary Ink Paintings

Have you registered to bid at Poly International Auction Co. Ltd. before?

□ Chinese Ceramics and Works of Art □ Jewels □ Watches □ Bag & Hype □ Yes

□ Tea □ Chinese Spirit □ Whisky & Cognac □ Other

□ No

Please attach a copy of your ID Card/Passport and proof of current address (e.g. utility bill and bank statement) for identification purpose.

I hereby confirm my intention and application to bid in the above auction. I agree to deliver to Poly Auction (Hong Kong) such necessary financial references, guarantees, deposits and/or such other security as Poly Auction (Hong Kong) may in its absolute discretion for my bid. I agree that Poly Auction (Hong Kong) has no obligation to accept this registration application and that Poly Auction (Hong Kong)’s decision in this regard shall be final. I shall not assume Poly Auction (Hong Kong)’s acceptance of my registration application unless I have received a written confirmation from Poly Auction (Hong Kong) to that effect or a bidding paddle.

Please note that the auctioneer may open the bidding on any lot by placing a bid on behalf of the seller. ﬔe auctioneer may further bid on behalf of the seller up to the amount of the reserve, by placing responsive or consecutive bids for a lot.

In connection with the management and operation of our business and the marketing and supply of Poly Auction (Hong Kong) services, or as required by law, we may ask clients to provide personal information about themselves and/or obtain information about clients from any third parties (e.g. credit information). Poly Auction (Hong Kong) will not use and/or process my personal information for any other purpose without the client’s express consent. In order to fulfill the services that clients have requested, Poly Auction (Hong Kong) may disclose certain information to third parties (e.g. shippers). Some countries do not offer equivalent legal protection of personal information to that offered within Hong Kong. It is Poly Auction (Hong Kong)’s policy to require that any such third parties respect the privacy and confidentiality of my information and provide the same level of protection for my information as provided within Hong Kong, whether or not they are located in a country that offers equivalent legal protection of personal information. By signing this Registration Form I agree to such disclosure.

By signing below, I agree to be bound by the Conditions of Business and all the important notices as printed in the catalogue. If Poly Auction (Hong Kong) so requests, I agree to provide proof of identity and permanent address. ﬔe contract between the Buyer and Seller shall be concluded upon the striking of hammer by the Auctioneer. If the Lot is sold, I agree to pay in Hong Kong dollars the Hammer Price, a commission and related charges of buyer within 7 calendar days (including the day of sale).

□ I would like to receive the news for coming auction or events by email or message from Poly Hong Kong or Poly's group □ I do not wish to receive the settlement advice by email

SIGNATURE

DATE

If you plan to attend the sale and bid on a lot, please fill out this form and fax it to (852) 2303 9888 or mail to the following address in either case to reach POLY AUCTION (HONG KONG) no later than 3 working days prior to the day of sale:

FOR OFFICE USE ONLY

□ Wire Transfer Handled by

□ Cashier Order

□ Cheque

□ Credit Cards (VISA, MASTER, CUP, A E)

Approved by

□ Others Date / Time

Suite 701-708, 7/F, One Pacific Place, 88 Queensway, Admiralty, Hong Kong 香港金鐘金鐘E 88 號FG'場 1 O 7 H 701-708 T: +852 2303 9899 F: +852 2303 9888 E:cs@polyauction.com.hk W: www.polyauction.com.hk

ID/PP : □ Provided

□ ERP

保 利 香 港 拍 賣 有 限 公 司 (“ 保 利 香 港 拍 賣 ”)

委託競投表格

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個人競投

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b 保利香港拍賣不¦受包括代理人之內之任何ïé方付款±不¦受Ï港 Ò ( 或等值 ) 之e金 款U±且Ù7資%於拍賣會Õ« 將不能Ø改。 b 請閣下¸¹以下文件之 證c本： • ½人： Ù出附有 à的身份證明文件 ( 如áâ身份證及 / 或ã )，及e時§¨證明 ( 如身份證 明文件未有1示 )，如公用©業©·及 / 或ª行 «·。 • 公司[\：公司[業登記證及æç證明文件。 • 代理人：代理人附有 à的身份證明文件 , 代理人所代表之競投人µ / 公司之證明文件 , 以及該人 µ / 公司vÙ的è 7本。"請注意 , 保利香港拍賣不¦受ïé方付款 - Ç規定 ¤用於代理人。 如閣下代表 人參 競投，保利香港拍賣˦受 人之付款。 b 保利香港拍賣˦受本 " 式的 競投表 。 茲申請並委託保利香港拍賣就本申請表所列拍賣品進行競投，並同意如下條款： 一、本人承d已仔細閱讀刊印於本圖錄上的保利香港拍賣業務規則、重要通告、競投登記須知及財務付 款須知，並同意遵守前 規定之一 款。 Ð、保利香港拍賣業務規則之 競投之~責 款為不可Ú 之 款。無論是由於 或 éà因 致， 本人不Ì¡保利香港拍賣及 ¾ 人員競投未成t或未能代為競投的 關責任。 é、本人須於拍賣 前é½¾ 或之前向保利香港拍賣出 本 競投表 。並;據保利香港拍賣公 的 件 +\辦理競投登記手õ。如在規定時^內保利香港拍賣未P到本人支付的 應金¿的競 投保證金，或保利香港拍賣未予審 §的，則本表 無Ü。 ö、買家及賣家之 ¦於拍賣 落槌時RS。如拍賣成§，本人同意於拍賣會«Ó ( 含成§ ) A 內 以港 付 拍賣品之落槌價、 當於落槌價 18% 的佣金以及任何買家 責的ÉU»用。

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POLY AUCTION (HONG KONG) LIMITED (“POLY AUCTION (HONG KONG)”)

ABSENTEE BID REGISTRATION

Paddle No.:

Mail or Fax to: Poly Auction (Hong Kong) Limited Address: 701-708, 7/F, One Pacific Place 88 Queensway, Admiralty Hong Kong Phone: (852) 2303 9899 Fax: (852) 2303 9888

Personal Account

Company Account

Name

Company Name

Bank: ﬔe Hongkong and Shanghai Banking Corporation Limited Account Name: Poly Auction (Hong Kong) Ltd. Account No: 004-848-360475-838 SWIFT: HSBCHKHHHKH Bank Code: 004

Address

Client No.

Bank: Bank of Communications Co., Ltd. Hong Kong Branch Account Name: Poly Auction (Hong Kong) Ltd. Account No: 027-536-9-311-5318 SWIFT: COMMHKHH Bank Code: 027

This Absentee bid registration must be sent to the customer service department at least three business days before the Auction Day. Poly Auction (Hong Kong) will confirm receipt of your Absentee Bid Registration by fax or recorded phone message etc. If you have not received definite reply within one working day, please send in the form again.

□ WRITTEN BIDS Bidding will be conducted at the lowest possible price. If appropriate, your absentee bids will be roughly adjusted to the bidding increment of the Auctioneer as close as possible.

“Buy” or unlimited bids will not be accepted and we do not accept “plus one” bids. Please place bids in the same order as in the catalogue.

If Poly Auction (Hong Kong) receives two or more absentee bids at the same bidding price, and during the Auction, such bidding prices are the highest bids for that Lot, then that Lot will belong to the Bidder whose absentee bid reaches Poly Auction (Hong Kong) first. ﬔe Auctioneer can execute absentee bids directly on the Auction stage.

□ TELEPHONE BIDS Please indicate clearly the instant communication methods and instruments that you can be contacted during the auction period, we will phone you before the bidding of the Lot that you intend to bid for, the bidding information transmit by that instant communication instruments (whether or not it is transmitted by you personally) shall be considered as transmitted by you, and you shall bear all liability and responsibility (including but not limit legal liability and responsibility) for the actions taken by it.

All telephone bids may be recorded and kept at Poly Auction (Hong Kong)’s sole discretion, by opting for telephone bids, the Bidder agrees that its phone conversation will be recorded.

Sale No.

Lot No.

_________________________________

Business Registration No.

ID / Passport No.

City

Country

Postal Code

Tel #1

Tel #2

Fax

Email

Preferred language

☐Authorization for Absentee Bid Registration: Name of Agent ID / Passport No.

Tel:

IMPORTANT REMINDER: • Poly Auction (Hong Kong) does not accept any payment from any third parties (agent inclusive), nor cash in excess of HK$80,000 (or its equivalent in other currencies), and that the invoice details cannot be changed and/or amended after the end of the Auction.

• Please provide certified true copies of the following documents: o Individuals: photo identity i.e. national identity card and/or passport, proof of current address (if the current address is not shown on the identity document), i.e. utility bill or bank statement. o Corporate clients: a certificate of incorporation and official documents listing directors and shareholders. o Agents and/or Acting Personnel: photo identity of the agent and/or acting personnel, identity document of the person/company that the agent and/or acting personnel acts on, original copy of signed and/or chopped authorization letter from the particular person/ company. Please note that Poly Auction (Hong Kong) Limited does not accept any payment from any third party and this also applies to agent. If you participate in the bidding on behalf of others, Poly Auction (Hong Kong) only accepts the payment of the principal.

• Poly Auction (Hong Kong) only accepts Absentee Bid Registration Form in this written format.

I hereby apply for and appoint Poly Auction (Hong Kong) to conduct bidding for the Property(ies) listed in this Absentee bid registration, and agree to the following terms: 1. I undertake that I have carefully read and accept the Conditions of Business, Important Notices, Important Notices about Bidding Registration and Important Notices about Payment of Poly Auction (Hong Kong) published in the catalogue, and agree to be bound by all the terms of the above mentioned provisions.

2. ﬔe disclaimer of absentee bid of the Conditions of Business of Poly Auction (Hong Kong) is indisputable, I shall not seek to establish the relevant responsibilities of Poly Auction (Hong Kong) and its staff for unsuccessful bidding or their inability to bid on my behalf regardless such is caused by negligence or other reasons.

3. I shall present this Absentee Bid Registration to Poly Auction (Hong Kong) at least three business days before the Auction Day, and complete the bidding registration according to the conditions and procedures announced by Poly Auction (Hong Kong). If Poly Auction (Hong Kong) has not received the amount corresponding to the Auction deposit that I have paid or Poly Auction (Hong Kong) has not verified and confirmed it within the period stipulated, this form shall be void.

4. ﬔe contract between the Buyer and Seller shall be concluded upon the striking of hammer by the Auctioneer. If the Lot is sold, I agree to pay in Hong Kong dollars the Hammer Price, a commission equivalent to 18% of the hammer price of each lot and any Buyer's expenses within 7 calendar days (including the day of sale).

Highest Bid (excluding commission) for written bid / Emergency bid (excluding commission) for phone bid #

Lot Description

HKD HKD HKD HKD HKD #important Note: If Poly HK staff is unable to contact you during the auction, the bid will be placed in accoedance with you listed emergency bid price

□ I would like to receive the news for coming auction or events by email or message from Poly Hong Kong or Poly’s group □ I do not wish to receive the settlement advice by email Signature: FOR OFFICE USE ONLY Deposit payment: □ Wire Transfer Handled by

Date:

□ Cashier Order

□ Cheque Approved by

□ Credit Cards (VISA, MASTER, CUP, AE)

ID/PP: Date / Time

□ Provided

□ ERP

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SHIPPING INSTRUCTIONS SHIPPING INFORMATION Please complete this Form and we shall arrange for the dispatch of all your purchases through one of our nominated shipping agents, at your expense. Poly Auction (Hong Kong) is not responsible for any damage and/or loss of the purchases and/or the packing (i.e frames, glasses) from any packing and/or transportation. It should be the buyerâ&#x20AC;&#x2122;s responsibility to obtain any necessary licenses and/or permits, and all the duties, and/or taxes which may occur. For advice on shipping your purchases please call Poly Auction (Hong Kong)'s Warehouse and Logistics Department on (852) 2303 9899.

Please complete this section and delete where applicable

SALE DETAIL Sale #

Lot #

Methods of Dispatch

Registered post/Air fright/Commercial Courier

Invoice#

Delivery Address

(Please cross out as appropriate)

CHARGES

Telephone

Fax

I do/do not require a quotation before the shipment is processed.

INSURANCE IN TRANSIT Please arrange/do not arrange transit insurance. All purchases will be insured at the aggregate price unless otherwise speciďŹ ed.

Please note that Poly Auction (Hong Kong) is not responsible for any insurance charge which may occur from transit.

Invoice Address if different from above

Telephone

Fax

POSTAL CONSIGNMENTS ONLY Please do not remove frames.

(Glass will be discarded).

Please remove frames and glass.

NB: items valued in excess of HK$10,000 or weighing more than 2kg cannot be sent by Post.

Special instructions:

Signature

Y/N

Date

全球保利拍賣辦事處 WORLDWIDE OFFICES 香港(Hong Kong) 保利香港拍賣有限公司 香港金鐘E88號FG'場1O7H Ø：(852) 2303 9899 ìÞ：(852) 2303 9888 ：sale@polyauction.com.hk m (Macau) 保利m 拍賣有限公司 m ø口nop '場322-362號q9[業 中r16HG »s人：¢tu Ø：(853) 2875 1013 ìÞ：(853) 2875 1014 Kv(Taiwan) 保利香港拍賣有限公司Kv代表處 K!£中wÌ中w!xÐ%39y6號10H »s人：Ýz Ø：(886) 2 2581 3855 ìÞ：(886) 2 2522 2595 ：taipei@polyauction.com.hk

上y(Shanghai) 保利香港拍賣有限公司上y代表處 ¶ý中x1111號¶ý 391 »s人：Ý Ø：(86-21) 5178 0360 ìÞ：(86-21) 5178 0361 ：shanghai@polyauction.com (Xiamen) 保利 ¢拍賣有限公司 £L çx86-3號 Ø：(86-592) 2209995 ìÞ：(86-592) 5320009 wç (Shandong) 保利wç ¢拍賣有限公司 wç £ 文Ì 利ç 5051號 100C£'場8號H7H Ø：(86)13810245312/18601255615

(Yiwu) 保利 /術Ù展有限公司 £ x158號文 ÐÌD 保利/術+Ðï Ø：0579-83556111 ìÞ：0579-83556111 本(Japan) 保利拍賣 本代表處 ç0÷中 ̪ 2 12-4-601 Duplex ª 2/12 1040061 »s人： ± { Ø：(81) 3 6278 8011 ìÞ：(81) 3 6278 8012 (USA) 保利拍賣 ¦代表處 (New York) Bar Building, 36 West 44th Street, New York »s人：Kenny Wong Ø：(1) 212 273 0822 ：nyc@polyauction.com

香港、北京保利圖錄預訂 CATALOGUES ＊圖錄預訂可聯系全球各地代表或以下合作單位： ø加 (Singapore) â ¢/ ( í) SooBin Art Int'L 10 Ubi Crescent, Ubi Techpark Lobby C, # 04-90 Lobby E Singapore 408564 Ø：(65) 68372777 ìÞ：(65) 63397767 印 (Indonesia) Fang Gallery /術( í) The Plaza 27th Floor,Jl.M.H.Thamrin Kav28-30,Jakarta 10350 Lndonesia Tel: (62) 2129923311 Fax: (62) 2129923311 西ý Xi'an 寶H 西ý Ì x35號( í GM) Ø：(86-029) 82069868/75/78 ：sxliangbaolou@163.com Õë Jinan 中寶 ( í GM) wç Õë£ wx2-1號wç= 一ï Ø：(86-531) 86953009 Qingdao 寶 µ ( í GM) £ éx12號 Ø：(86-532) 88080822 ìÞ：(86-532) 88080833

Fà Taiyuan 寶 ( í GM) w西 F࣠= 376號 Ø：(86-351) 4034756 ìÞ：(86-351) 4034962

成÷ Chengdu 成÷ H雅|文 /術有限公司 ö ·成÷£ Ì支矶 31號附2號 編：610031 Ø：(86-28) 62323289

=5 ( í GM) w西 F࣠= 248號 ë 文 H201 Ø：(86-351) 4085383 ìÞ：(86-531) 4180191

' Guangzhou ( í) ' £ Ì x79號 Cm $H Ø：(86-20) 81749713

: Yixing 保利典當行( í) : £F ! H Ø：(86-510) 68995988 ìÞ：(86-510) 68995988 Jiangyang 家=?文 -業有限公司 £É ë處 ìÞ：(86-510) 68970068 ë0 Nanjing í ( í) ë0£ = ­¿ 2號2H Ø：(86-25) 83719611 ìÞ：(86-25) 83719611

Fuzhou í?—I ( í) £ £¼wx2號 Ø：(86-591) 83333867 83366176 ìÞ：(86-591) 83337963 í ¢ £ x109號?1號H1· 2201 Ø：(86-0371) 66976789 ：zysf6789@126.com

中国拍卖行业概念股——保利文化 (3636·HK)

總 經 理：王 蔚

党支部副书记：江

林

副總經理：陳零初

副總經理：祖世龍

財務總監：郭建巍

副總經理：董

振

各子公司及聯絡人等

主要業務聯系方式：

保利香港拍賣有限公司

中國古董珍玩部

联系电话：(86-10) 64083366

地址：金钟道88号太古广场一座7楼

总经理：李移舟

高级业务经理：胡志明 乔亚宁 陈媛媛

电话：852-23039899

E-mail: gd@polyauction.com

业务经理：刘晓洋 王 浩

科技古董部及资产拍卖部

银行业务查询：

传真：852-23039888

征集微信号：polygudong

王 辉 帅恩泽

高级业务经理：蓝 晨

佟 璐：(86-10) 64083065

瓷器、佛像、工艺品、明清紫砂

联系电话： (86-10) 64083371

E-mail: zc@polyauction.com

陶 蕊：(86-10) 64083080

高级业务经理：李嘉伟 翟昊天 麻 正

业务助理：许 登

联系电话：(86-10) 64083046

朱雅楠：(86-10) 64083153

地址：澳门宋玉生广场336号

邹德馨 赵胤轩

联系电话：(86-10) 64083363/3380

诚丰商业中心16楼G座

业务经理：徐 雯

珠寶鐘表尚品部·保利珠寶沙龍

电话：+853 2875 1013

客戶服務部

业务助理：杨圆通

中國古代書畫部

代总经理：唐利伟

主任：安 蓓 ( 兼 )

联系电话：(86-10) 64083090

代总经理：范长江

E-mail:zb@polyauction.com

E-mail: vipservice@polyauction.com

E-mail: gdsh@polyauction.com

业务助理：冯成龙 张 周

项目经理：吴 婷 王俊淳

Email: sale@polyauction.com.hk

保利澳門拍賣有限公司

传真：+853 2875 1014

保利(山東)國際拍賣有限公司

E-mail: sh@polyauction.com

业务经理：王春华 联系电话：(86-10) 64083014

张 璐：(86-10) 64083010 税票查询： 盖乐乐：(86-10) 64083112

胡志明 姜 珂

玉器、漆器、珐琅器、织绣

联系电话：(86-10) 64083316

于杨芳鑫

孟 超 张 政

地址：山东省潍坊市奎文区胜利东街

高级业务经理：付滢蓉 李 莹

高级业务经理：王 健

联系电话：(86-10) 64083392

项目助理：史 纪 周 建 陈 威

5051号阳光100城市广场

业务经理：许 昂

业务经理：任 星 孟兆波 赵绍华

联系电话：(86-10) 64083090

孟雪松 李修燕

研究院

联系电话：(86-10) 64083314/3315

主任：霍文才

8号楼7楼 电话：0536-8392111 传真：0536-8392009

古琴、家具、当代文房

联系电话：(86-10) 64083034

E-mail: yjy@polyauction.com

保利(廈門)國際拍賣有限公司

高级业务经理：郑 阳

中國當代水墨部

高级业务经理：章之浩 徐向龙

陈 珊

业务助理：孟雅琪

紫砂及現代工藝品部

业务经理：唐花玲 郭 玉

E-mail: zhy@polyauction.com

总经理：安 蓓

柴诗轶 董宇鑫

联系电话：(86-10) 64083090

E-mail: ddsh@polyauction.com

联系电话：(86-10) 64083050

地址：厦门市白鹭洲东路86-3号 电话：0592-5069988 传真：0592-5320009

高级业务经理：王建伟 肖明芳 陈 京

保利義烏藝術發展有限公司

国石、现当代艺术陶瓷

陈零初 李 屾 黄 慧

业务联系人：廖海岚

地址：浙江省义乌市宾王路158号文创 园二区D座保利艺术+二层

联系电话：(86-10) 64083029

电话：0579-83556111 传真：0579-83556111

铜镜 业务经理：张毅博

保利拍卖上海地區聯絡人 张 瑾 曹欢欢 地址：延安中路1111号延安饭店391室

E-mail: tj@polyauction.com 联系电话：(86-10) 64083034

联系电话：(86-10) 64083321/3322

传真：86-21- 51780361 E-mail: shanghai@polyauction.com

主任：祖世龙 ( 兼 ) 计算机及证书：刘 琨

总经理：孟 楠

摄影：霍 健

E-mail: gj@polyauction.com

中国书画：徐 路

业务经理：陈智萌

四季书画：盛 辉

业务助理：陈玉红

古董珍玩：牛吉刚

联系电话：(86-10) 64083311

四季古董：范 畴

保利拍賣臺灣地區聯絡人

中國書畫季拍部

现当代中国艺术：玄光绪

总经理：罗汉松

古籍文献：郭 蒙

E-mail: sj@polyauction.com

珠宝钟錶：秦 伟

联系电话：(86-10) 64083300

邮品钱币铜镜：铁 雷

古董珍玩季拍部

高级业务经理：王高伟 艾 珉

联系电话：(86-10) 64083208

总经理：李 屾

业务经理：胡天璧 李夺伦 于振兰

E-mail: gd@polyauction.com

联系电话：(86-10) 64083379

高级业务经理：宫 诤 联系电话：(86-10) 64083013

黄宏任 杨濠骏 汪友文 地址：台北市中山区中山北路二段 39巷6号5楼(晶华酒店旁) 电话：886-225224080 传真：886-225222595 E-mail: taiwan@polyauction.com

业务经理：文明远 王井森 李承隆 业务助理：范博涵

保利拍賣日本聯絡人

联系电话：(86-10) 64083098

风见治子 地址：东京都中央区银座2丁目12-4

財務部

主任：郭一霖 郵品錢幣部

E-mail: cwkf@polyauction.com

总经理：桑贯宇

拍品结算：

E-mail: yp@polyauction.com

王佳莹：(86-10) 64083161

-60 Duplex银座2/12 1040061

現當代藝術部

高级业务经理：王 超 李海勇

董立仁：(86-10) 64083113

电话：81-3-6278-8011

总经理：常天鹄

业务经理：马斯奇

陈 剑：(86-10) 64083133

E-mail: ddyh@polyauction.com

业务助理：郗海娜 王 威

田丽丽：(86-10) 64083124

高级业务经理：田 恒 周彬芮

联系电话：(86-10) 64083036

禹艾利：(86-10) 64083081

保利拍賣北美聯絡人

联系电话：(86-10) 64083337

E-mail: yp@polyauction.com

李 斌：(86-10) 64083017

黄 健 黄 正

联系电话：(86-10) 64083338

传真：81-3-6278-8012 Email: polyauction2005@gmail.com

地址：Bar Building, 36 West 44th

代 昕：(86-10) 64083166 名酒及養生茗品部

赵英琪：(86-10) 64083155

电话：1-212-273-0822

中國近現代書畫部

业务主管：陈零初 ( 兼 )

财务部传真：(86-10) 64083150

E-mail: nyc@polyauction.com

总经理：殷华杰

E-mail: zc@polyauction.com

发票开具：

Street, New York

E-mail: market@polyauction.com 项目经理：赵 京 高树丰 项目助理：汪毅青 张婧雅 杨宝敬 刘 允 联系电话：(86-10) 64083373

运输及展览：阎晓飞 古董珍玩海外拓展

主任：孟 楠 ( 兼 )

物管部

古籍文獻部

电话：86-21- 51780360

市場部

辦公室

主任：刘 静 胡向国 E-mail: xingzheng@polyauction.com 行政经理：刘 超 吴 尧 联系电话：(86-10) 64083007

党群（人事）工作部

主任：程 相 E-mail: chengxiang@polyauction.com 项目经理：王 榕 胡 郡 联系电话：(86-10) 64083085

7TH FLOOR, ONE PACIFIC PLACE, 88 QUEENSWAY, ADMIRALTY, HONG KONG • 香港金鐘金鐘道 88 號太古廣場 1 期 7 樓 • +852 2303 9899