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2017 Children's Benefit Gala Auction Conditions of Sale

presented by Sotheby's

The property offered in this sale will be offered and sold by Education Through Music.
Any questions should be directed to the Charity and not to Sotheby’s, Inc., (“Sotheby’s”), which serves
merely as auctioneer for the Charity in conducting the auction sale and participates on the
following terms and conditions, as amended by any posted notices or oral announcements during
the sale, which govern the sale of all the property offered at the auction:

1. (a) Neither Sotheby’s nor the Charity assume any risk, liability or
responsibility for the authenticity of the authorship of any property offered at this auction (that is,
the identity of the creator or the period, culture, source or origin, as the case may be, with which
the creation of any property is identified).

(b) ALL PROPERTY IS SOLD “AS IS” AND NEITHER SOTHEBY’S
NOR THE CHARITY MAKES ANY REPRESENTATIONS OR WARRANTIES OF ANY
KIND OR NATURE, EXPRESSED OR IMPLIED, WITH RESPECT TO THE
PROPERTY, AND IN NO EVENT SHALL EITHER OF THEM BE RESPONSIBLE FOR
THE CORRECTNESS OF ANY CATALOGUE OR NOTICES OR DESCRIPTIONS OF
PROPERTY, NOR BE DEEMED TO HAVE MADE, ANY REPRESENTATIONS OR
WARRANTY OF PHYSICAL CONDITION, SIZE, QUALITY, RARITY,
IMPORTANCE, GENUINENESS, ATTRIBUTION, AUTHENTICITY, PROVENANCE
OR HISTORICAL RELEVANCE OF THE PROPERTY. No statement in any catalogue,
notice or description or made at the sale, in any bill of sale invoice or elsewhere, shall be deemed
such a representation or warranty or any assumption of liability. Neither Sotheby’s nor the
Charity makes any representation or warranty, expressed or implied, as to whether the purchaser
acquires any reproduction rights in the property. Prospective bidders should inspect the property
before bidding to determine its condition, size and whether or not it has been repaired or restored.

2. Any property may be withdrawn by Sotheby’s or the Charity at any time before the
actual sale without any liability therefor.

3. Sotheby’s and the Charity reserve the right to reject a bid from any bidder. The
highest bidder acknowledged by the auctioneer shall be the purchaser. In the event of any
dispute between bidders, the auctioneer shall have sole and final discretion either to determine
the successful bidder or to reoffer and resell the article in dispute. If any dispute arises after the
sale, the Charity’s sale records shall be conclusive in all respects.

4. If the auctioneer determines that any opening bid is not commensurate with the
value of the article offered, s/he may reject the same and withdraw the article from sale, and if,
having acknowledged an opening bid, s/he decides that any advance thereafter is insufficient, he
may reject the advance.

5. On the fall of the auctioneer’s hammer, the highest bidder shall be deemed to have
purchased the offered lot subject to all of the conditions set forth herein and thereupon (a)
assumes the risk and responsibility thereof (including without limitation damage to frames or
glass the covering prints), (b) will sign a confirmation of purchase thereof and (c) will pay the
full purchase price therefor or such part as the Charity may require. All property shall be
removed from the Charity’s premises by the purchaser at his/her expense no later than three days
following its sale and, if not so removed, will be sent by the Charity at the expense of the
purchaser to a public warehouse for the account, risk and expense of the purchaser and such
added charges will then be added to the purchase price of the object. If the foregoing conditions
and other applicable conditions are not complied with, in addition to other remedies available to
the Charity by law, including, without limitation, the right to hold the purchaser liable for the bid
price, the Charity at their option, may either (a) cancel the sale, or (b) resell the property on three
days notice to the purchaser and for the account and risk of the purchaser, either publicly or
privately, and in such event the purchaser shall be liable for payment of any deficiency, all other
charges due hereunder and incidental damages.

6. Any checks should be payable to Education Through Music and not to Sotheby’s.

7.  (a) In the case of order bids or bids transmitted by telephone, Sotheby’s and
the Charity are not responsible for any errors or omissions in connection such bids.

[(b) All lots [marked with [ ]) are offered for sale subject to a reserve, which is
the confidential minimum price below which such lot will not be sold. Sotheby’s may
implement such reserve by bidding up to the reserve on behalf of the Charity.]