BRIEF ON CATALOGUE
All Lots are sold on an “as is” basis. The contents of catalogues produced by Masterpiece
formed statements of opinion only. Subject to the limited warranty given in the Conditions
of Sale for Buyers, no representation and warranty is made by Masterpiece or any seller
of a Lot in respect of anything, including without limitation, description, value, or quality.
Buyers are advised to inspect the property themselves. Masterpiece is not liable for any
error or omission in this catalogue. All descriptions of dimensions are approximate only.
Condition reports are provided as a service to interested clients. Prospective buyers should
note that descriptions of property are not warranties and that each lot is sold “as is”.
Masterpiece catalogues sometimes include references to condition only in descriptions of
Lots such as prints, books and wine. Generally, no statement of condition is given although
they can be made available on request. Please liaise with Masterpiece representatives for
a condition report on a particular lot.
EXPLANATION OF CATALOGUING PRACTICE
For Pictures, Drawings, Prints and Miniatures.
Terms used in this catalogue have the meanings ascribed to them below:
Name(s) or Recognized Designation of an Artist without any Qualification in Masterpiece
opinion a work by the artist.
*”Attribute to…” In Masterpiece qualified opinion probably a work by the artist in whole
or in part.
*”Studio of..’/”Workshop of..” In Masterpiece qualified opinion a work executed in the
studio or workshop of the artist, possibly under his supervision.
*”Circle of..” In Masterpiece qualified opinion a work of the period of the artist and
showing his influence.
*”Follower of…” In Masterpiece qualified opinion a work executed in the artist’s style but
not necessarily by a pupil.
*”Manner of…” In Masterpiece qualified opinion a work executed in the artist’s style but
of a later date.
*”After…” In Masterpiece qualified opinion a copy (of any date) of a work of the artist.
*”Signed..”/”dated…”/“Inscribed…” In Masterpiece’s qualified opinion the work has been
signed/dated/inscribed by the artist.
“With signature…”/”With inscription…” In Masterpiece’s qualified opinion the signature/
inscription appears to be by hand other than that of the artist.
*With date…” In Masterpiece’s qualified opinion the date on the item was not executed
on that date.
INFORMATION FOR BUYERS
CONDITIONS OF SALE
Masterpiece CONDITIONS OF SALE FOR BUYERS governs the terms and conditions of
contract between the buyer and the seller of a lot and is set out later in this catalogue.
Persons who have been registered as bidders will be deemed to have read and be fully
aware of and subject to the terms as stated in the CONDITIONS OF SALE FOR BUYERS..
No reliance should be placed on oral representations made by any person at the auction.
Estimates are based upon prices recently paid at auction for comparable property,
condition, rarity, quality and provenance. Estimates are subject to revision. Buyers should
not rely upon estimates as prediction of actual selling prices. Estimates do not include
the buyer’s premium. For estimate on request, please contact us for further information.
The reserve is the confidential minimum price the consignor will accept. The reserve will
not normally exceed the low estimate.
Masterpiece charges a premium to the buyer on the final bid price of each lot sold at 12%
Pre-auction viewings are open to the public and free of charge. Buyers are strongly
advised to examine the lots thoroughly, Condition reports are available. Masterpiece
reserves the right to refuse admission and participation in its auctions.
Prospective buyers need to register for a numbered bidding paddle. Details of bank
accounts are required for credit reference purposes.
The Auctioneer accepts bids from those present in the saleroom, from telephone bidders,
or by absentee written bids left with Masterpiece in advance of the auction. Bidding will
be done in Ringgit (MYR). The auctioneer will not specifically identify bids placed on behalf
of the consignor.
The auctioneer will normally start with bids below the low estimate and may at his own
discretion increase bids. The standard increments are:
MYR 1,000 - MYR 10,000 by RM 500
MYR 10,000 - MYR 20,000 by RM 1.000
MYR 20,000 - MYR 50,000 by RM 2.000
MYR 50,000 - MYR 100,000 by RM 5.000
MYR 100,000 - MYR 200,000 by RM 10.000
MYR 200,000 - MYR 500,000 by RM 20.000
> MYR 500,000 by the auctioneer’s direction
Absentee bids are written instructions from prospective buyers directing Masterpiece to
bid on their behalf up to a maximum amount specified for each lot. Masterpiece staff will
attempt to execute an absentee bid at the lowest possible price taking into account the
reserve price. If identical bids are received from two or more parties, the first bid received
by Masterpiece will take priority. The auctioneer may execute absentee bids directly from
the rostrum. Absentee Bids Forms are available in this catalogue.
Absentee bids submitted on “no-reserve” lots will, in the absence of a higher bid, be
executed at the amount of the bid.
Prospective buyers may bid by telephone during the course of the auction. Arrangements
for this service must be confirmed with the Bid Department at least 2 hours prior to the
auction. Telephone bids may be recorded. By bidding on the telephone, prospective buyers
consent to the recording their conversation. Masterpiece will not be responsible for errors
of failures to execute bids.
The fall of the auctioneer’s hammer indicates the final bid, at which time, the buyer
assumes full responsibility for the lot.
AUCTION RESULTS CONDITIONS OF SALE FOR BUYERS
You may view auction results at www.masterpiece-auction.com
Together with the terms as set out in “INFORMATION FOR BUYERS”, These Conditions
contain all terms in which a buyer contracts with a seller in respect of the sale of a Lot.
These terms may be amended at any time by way of notices or oral announcements during
the sale and auction. The buyer agrees to be bound by these Conditions when he/she bids
to purchase a Lot.
In these terms and conditions, the following words and expressions have the
“Buyer” means the successful bidding buyer of a Lot;
“Catalogue” means the Catalogue prepared by Masterpiece which describes and
illustrates all Lots for sale by Masterpiece;
“Conditions” means these terms and conditions;
“Hammer Price” means the price at which a Lot is sold to Buyer;
“Lot” means each piece of property as described in the Catalogue for which bids are
invited for purchase;
“Masterpiece”, “our”, “we”, “us” means Masterpiece Auction sdn. bhd;
“Reserve Price” means in respect of a Lot, the minimum price which the Seller is
prepared to accept from a buyer;
“Seller”, means in respect of a particular Lot, the seller of that Lot and his personal