ARTIANA | The Hermès Edit | Online Auction | No Buyer's Premium | 15-20 January 2022 | Sale 2201

HANDBAGS & ACCESSORIES THE HERMÈS EDIT ONLINE AUCTION (NO BUYER S PREMIUM)

15 - 20 JANUARY 2022

• Fully climate controlled art storage facility • In-house art handling truck for transportation • Bespoke collection management services • Located in the safe and convenient jurisdiction of Dubai International Financial Centre (DIFC) • Assets stored are governed by a common-law framework with laws and regulations issued in English

• FlexiPay scheme for buyers at our auctions • Bespoke solutions for consignors and collectors • Fast decisions and quick disbursals • Flexible tenors and repayment options • No early exit fees payable

HANDBAGS & ACCESSORIES THE HERMÈS EDIT SALE NUMBER: 2201 ONLINE AUCTION JANUARY 15 - 20, 2022

‘What You Bid is What You Pay’

‘Bid Now Pay Later’

January 15, 2022 9:00 a.m. onwards UAE Standard Time

January 20, 2022 5:30 p.m. to 6:30 p.m.

UAE Standard Time

P2-1A, Damac Park Towers DIFC Dubai | UAE +971 55 815 3030 info@artiana.com

AUCTION SERVICES P.O. Box 112646 Dubai | UAE Sale Number: 2201

By Appointment handbags@artiana.com

Artiana Help Desk +971 55 815 3030 auction@artiana.com info@artiana.com Additional information on the buying process is available on page 35 Additional information on the FlexiPay scheme is available on page 42 This auction is conducted under the Conditions of Sale as stipulated in the catalogue on page 44 Copyright Notice No part of this catalogue may be reproduced, stored in a retrieval system or transmitted by any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of Artiana. © Copyright,Artiana, 2022

Front Cover: Lot 2 Inside Pages: Lot 4 & Lot 5

End of Sale: Lot 3 Inside Back Pages: Lot 15 Back Cover: Lot 1

CONTENTS SALE GUIDE 9 HANDBAGS & ACCESSORIES : THE HERMÈS EDIT LOTS 1 - 15 34 BRAND PROFILE 35 IT’S EASY TO BUY AT ARTIANA 36 AUCTION CLOSING SCHEDULE 37 WRITTEN / ABSENTEE BID FORM 38 BIDDING INCREMENTS 39 BUYING AT ARTIANA 42 FINANCE AT ARTIANA 44 CONDITIONS OF SALE 50 ARTIANA GUARANTEE 51 COLLECTION AND STORAGE

LOT 1 - 5

LOT 1

HERMES Vert de Gris Kelly II Retourne 28 CIRCA: 2021 MATERIAL: Vert de Gris Togo Leather HARDWARE: Gold CONDITION: New

US$ 15,000 - 25,000

WIDTH: 11 in. (28 cm.)

HEIGHT: 9 in. (22 cm.)

DEPTH: 4 in. (10 cm.)

ORIGIN: France ACCESSORIES: Hermès box, dust bags, detachable shoulder strap, clochette, lock, two keys, felt, rain protector, carebook and ribbon (Full Set)

HANDBAGS & ACCESSORIES : THE HERMÈS EDIT

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LOT 2

HERMES Anemone Birkin 30 CIRCA: 2021 MATERIAL: Anemone Epsom Leather HARDWARE: Gold CONDITION: New

US$ 15,000 - 25,000

WIDTH: 11.8 in. (30 cm.)

HEIGHT: 8.6 in. (22 cm.)

DEPTH: 6.3 in. (16 cm.)

HANDLE DROP: 3.5 in. (9 cm.)

ORIGIN: France ACCESSORIES: Hermès box, dust bags, clochette, lock, two keys, felt, rain protector, carebook and ribbon (Full Set)

HANDBAGS & ACCESSORIES : THE HERMÈS EDIT

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LOT 3

HERMES Naturel Mini Kelly II 20 CIRCA: 2021 MATERIAL: Naturel Jonathan Leather HARDWARE: Palladium CONDITION: New

US$ 15,000 - 25,000

WIDTH: 8 in. (20 cm.)

HEIGHT: 6 in. (15 cm.)

DEPTH: 3 in. (7.5 cm.)

ORIGIN: France ACCESSORIES: Hermès box, dust bags, detachable shoulder strap, felt, rain protector, carebook and ribbon (Full Set)

HANDBAGS & ACCESSORIES : THE HERMÈS EDIT

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LOT 4

HERMES Rose Sakura Picotin Lock 18 CIRCA: 2021 MATERIAL: Rose Sakura clemence leather with tonal Veau Doblis lining (inside) HARDWARE: Palladium CONDITION: New

US$ 3,000 - 5,000

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WIDTH: 7.1 in. (18 cm.)

HEIGHT: 7.5 in. (19 cm.)

DEPTH: 5.3 in. (13 cm.)

HANDLE DROP: 5.5 in. (14 cm.)

ORIGIN: France ACCESSORIES: Hermès box, Lock, Keys, Dust bags, care card and ribbon (Full set)

LOT 5

HERMES Bleu Pale Picotin Lock 18 CIRCA: 2021 MATERIAL: Bleu Pale Clemence leather HARDWARE: Gold CONDITION: New

US$ 3,000 - 5,000

WIDTH: 7.1 in. (18 cm.)

HEIGHT: 7.5 in. (19 cm.)

DEPTH: 5.3 in. (13 cm.)

HANDLE DROP: 5.5 in. (14 cm.)

ORIGIN: France ACCESSORIES: Hermès box, Lock, Two Keys, Dust bags, carebook and ribbon (Full set)

HANDBAGS & ACCESSORIES : THE HERMÈS EDIT

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LOT 6 - 10

LOT 6

HERMES Noir Picotin Lock 18 CIRCA: 2021 MATERIAL: Noir clemence leather HARDWARE: Gold CONDITION: New

US$ 3,000 - 5,000

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WIDTH: 7.1 in. (18 cm.)

HEIGHT: 7.5 in. (19 cm.)

DEPTH: 5.3 in. (13 cm.)

HANDLE DROP: 5.5 in. (14 cm.)

ORIGIN: France ACCESSORIES: Hermès box, Lock, Two Keys, Dust bags, carebook and ribbon (Full set)

LOT 7

HERMES Etoupe Picotin Lock 18 CIRCA: 2021 MATERIAL: Etoupe clemence leather HARDWARE: Palladium CONDITION: New

US$ 3,000 - 5,000

WIDTH: 7.1 in. (18 cm.)

HEIGHT: 7.5 in. (19 cm.)

DEPTH: 5.3 in. (13 cm.)

HANDLE DROP: 5.5 in. (14 cm.)

ORIGIN: France ACCESSORIES: Hermès box, Lock and Key, Dust bags, carebook and ribbon (Full set)

HANDBAGS & ACCESSORIES : THE HERMÈS EDIT

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LOT 8

HERMES Gold Picotin Lock 18 CIRCA: 2021 MATERIAL: Gold clemence leather HARDWARE: Gold CONDITION: New

US$ 3,000 - 5,000

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WIDTH: 7.1 in. (18 cm.)

HEIGHT: 7.5 in. (19 cm.)

DEPTH: 5.3 in. (13 cm.)

HANDLE DROP: 5.5 in. (14 cm.)

ORIGIN: France ACCESSORIES: Hermès box, Lock and Key, Dust bags, carebook and ribbon (Full set)

LOT 9

HERMES Raisin Kelly II Retourne 32 CIRCA: 2019 MATERIAL: Raisin Taurillon Clemence leather HARDWARE: Gold CONDITION: Unused

US$ 12,000 - 18,000

WIDTH: 12.75 in. (32 cm.)

HEIGHT: 9 in. (23 cm.)

DEPTH: 4 in. (10.5 cm.)

ORIGIN: France ACCESSORIES: Hermès box, dustbag, detachable shoulder strap, clochette, lock, two keys, clochette dustbag, felt, rain cover, carebook and ribbon (Full set)

HANDBAGS & ACCESSORIES : THE HERMÈS EDIT

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The Kelly bag came to success when it was first photographed donned by Princess Grace Kelly in 1956 as an attempt to hide her baby bump. Her name became so linked to the bag that Hermes renamed the “Sac à Dépêches” bag to “Kelly” in 1977.

This was the start of the story we all know. Since then, the Kelly has been updated once in 2000. The Kelly II, released in 2000 as an update to the original Kelly, has a double ring at the top handle, designed to attach to a shoulder strap.

This bag, defined as “simple and perfectly made”, exists in many combinations of leathers (around 20) and countless colors. Created in eight different sizes ranging from 15 to 50cm, every bag requires 20 hours of work. As is the case for other Hermes products, the Kelly bag is handmade by an unique craftsman throughout the whole process.

LOT 10

HERMES Naturel Kelly II Sellier 28 CIRCA: 2021 MATERIAL: Naturel Epsom Calfskin leather HARDWARE: Gold CONDITION: New

US$ 15,000 - 25,000

WIDTH: 11 in. (28 cm.)

HEIGHT: 9 in. (22 cm.)

DEPTH: 4 in. (10 cm.)

ORIGIN: France ACCESSORIES: Hermès box, dust bag, detachable shoulder strap, clochette, lock, two keys, felt, rain protector, carebook and ribbon (Full Set)

HANDBAGS & ACCESSORIES : THE HERMÈS EDIT

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LOT 11 - 15

LOT 11

HERMES Noir Kelly II Sellier 28 CIRCA: 2021 MATERIAL: Noir Epsom Leather HARDWARE: Palladium CONDITION: New

US$ 15,000 - 25,000

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WIDTH: 11 in. (28 cm.)

HEIGHT: 9 in. (22 cm.)

DEPTH: 4 in. (10 cm.)

ORIGIN: France ACCESSORIES: Hermès box, dust bags, detachable shoulder strap, clochette, lock, two keys, felt, rain protector, carebook and ribbon (Full Set)

LOT 12

HERMES Bleu Nuit Kelly II Retourne 28 CIRCA: 2021 MATERIAL: Bleu Nuit Evercolor Leather HARDWARE: Gold CONDITION: New

US$ 15,000 - 25,000

WIDTH: 11 in. (28 cm.)

HEIGHT: 9 in. (22 cm.)

DEPTH: 4 in. (10 cm.)

HANDLE DROP: 3.5 in. (9 cm.)

ORIGIN: France ACCESSORIES: Hermès box, dust bags, detachable shoulder strap, clochette, lock, two keys, felt, rain protector, carebook and ribbon (Full Set)

HANDBAGS & ACCESSORIES : THE HERMÈS EDIT

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LOT 13

HERMES Rose Texas Lindy 20 Mini CIRCA: 2021 MATERIAL: Rose Texas Ostrich Leather HARDWARE: Palladium CONDITION: New

US$ 15,000 - 25,000

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WIDTH: 8 in. (20 cm.)

HEIGHT: 5 in. (12.5 cm.)

DEPTH: 3.75 in. (9.5 cm.)

ORIGIN: France ACCESSORIES: Hermès box, dust bag, felt, rain, protector, carebook and ribbon (Full Set)

LOT 14

HERMES Noir Della Cavalleria 18 Mini CIRCA: 2021 MATERIAL: Noir Epsom Leather HARDWARE: Palladium CONDITION: New

US$ 7,000 - 10,000

WIDTH: 7.5 in. (19 cm.)

HEIGHT: 5 in. (13 cm.)

DEPTH: 3.5 in. (9 cm.)

ORIGIN: France ACCESSORIES: Hermès box, dust bags, felt, rain protector, carebook and ribbon (Full Set)

HANDBAGS & ACCESSORIES : THE HERMÈS EDIT

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LOT 15

HERMES Bambou Lindy 20 Mini CIRCA: 2021 MATERIAL: Bambou Taurillon Clemence Leather HARDWARE: Palladium CONDITION: New

US$ 7,000 - 10,000

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WIDTH: 7.5 in. (19 cm.)

HEIGHT: 5 in. (13 cm.)

DEPTH: 3.5 in. (9 cm.)

ORIGIN: France ACCESSORIES: Hermès box, dust bag, felt, rain protector, carebook and ribbon (Full Set)

END OF SALE

HERMÈS

Hermès International S.A., or simply Hermès, is a French luxury goods manufacturer established in 1837. It specializes in leather goods, lifestyle accessories, home furnishings, perfumery, jewelry, watches, and ready-to-wear. Its logo, a Duc carriage with the horse, has been the insignia of the brand since the 1950s. Founded by Thierry Hermès, the company started as a harness workshop servicing noblemen, creating high-quality wrought harnesses and bridles for the carriage trade. Hermès's son, Charles-Émile, took over management from his father in 1880 and moved the shop to 24 rue du Faubourg Saint-Honoré, where it remains.The family-run business introduced saddlery and started selling their product retail catering to the elites of Europe, North Africa, Russia, Asia, and the Americas. In 1920, they added accessories and clothing collections to their growing product list.

FINE WATCHES

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IT’S EASY TO BUY AT ARTIANA

1. BROWSING

Before Bidding, Clients are welcome to browse through our Lots and see what we have to offer.Artiana offers a variety of ways to discover more about our Lots, so make the most of your browsing: Auction Catalogue Our catalogues are available on our website, mobile app, as well as in print form, and are a great way for clients to browse through upcoming sales. Our catalogues contain the following: • Images of the work • Descriptions of the Lot, including size, date and age, medium, type, attribution, quantity, etc.

• Estimates, which are given for all Lots are based on prices recently paid at auction or average market value for comparable property.They take into account rarity, condition, quality and provenance Condition Reports Condition Reports supplement the catalogue description and provide guidance on the item’s condition.These are available upon request.

Our Specialists We have in-house auction specialists who will always be happy to discuss an item in greater detail. Just contact our Auction Help Desk at +971 55 815 3030| auction@artiana.com Viewing Gallery Artiana is a click-and-mortar hybrid and has a viewing gallery located in Dubai, UAE and we would always recommend coming to the auction viewings and looking at an item for yourself.

2. BIDDING

3. PAYING AND TAKING IT HOME

In order to Bid, users must first register on our website, Sign In with their Artiana ID, and request Bidding access for the sale in which they are interested. Once their request has been approved, users can proceed to Bid.Artiana offers you ease and flexibility by providing three ways to Bid on a desired Lot: Online Bids Online Bidding allows you to directly participate in the auction through the Artiana website or mobile app in real time and from anywhere in the world.All you have to do is click to Bid wherever you may be.

You will be able to track your Bids through the website and will be alerted if you have been outbid.

Visit www.artiana.com to find out more.

Proxy/Maximum Bids These are suitable for those Bidders who are not available to follow the Bidding process, or would simply like to reserve a maximum Bid on a Lot. To make a Proxy Bid, you must enter the Maximum amount that you would like to Bid on a Lot, and our auction software will Bid on your behalf up to this amount. If you are the only person to Bid on the selected Lot, then you will purchase it at the lowest possible price (the Reserve Price).

Written/Absentee Bids These are suitable for those Bidders who may not be available during the auction, or would prefer to have an Artiana representative complete the online transaction on their behalf. Once you have completed the Written/Absentee Bids form, we will either Bid online directly or place a ‘Proxy Bid’ on your behalf, allowing our auction software to Bid up to this amount. If you are the only person to Bid on your Lot, then you will purchase it at the lowest possible price (the Reserve Price).

For more information, please refer to the Written/ Absentee Bids form in this catalogue or contact our Auction Help Desk at +971 55 815 3030 | auction@artiana.com

Congratulations! You hold the Winning Bid and are the Successful Bidder. Once you have paid for your purchase, delivery can be arranged.

No Buyer’s Premium Artiana does not charge any Buyer’s Premium over and above the Winning Bid. ‘What You Bid Is What You Pay’.

Payment As the Successful Bidder, you will only pay the Winning bid amount, along with any applicable charges for additional services availed and VAT if applicable. Payments for invoices are required to be completed within a period of seven business days from the receipt of the invoice via email.

Refer to the ‘Buying at Artiana’ guide in this catalogue for more details. If you have any further questions please contact our Help Desk at +971 55 815 3030 | info@artiana.com Storage Purchased Lots will initially be held for collection either at Artiana’s viewing gallery or at the shipper’s warehouse for 15 business days at no charge, after which a daily storage charge will be imposed.

Delivery We can help you with all your delivery and shipping requirements whether local or international freight.

Please refer to the ‘Storage and collection’ page in this catalogue or contact our Help Desk on +971 55 815 3030 | info@artiana.com

HANDBAGS & ACCESSORIES : THE HERMÈS EDIT

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AUCTION CLOSING SCHEDULE For your convenience, particularly if you are bidding on more than one lot, predetermined groups of Lots are scheduled to close at 30-minute time intervals during the Auction.

If a Bid is placed within the last 5 minutes, the timer on your screen will be extended by 5 minutes after the scheduled Closing Time of the Lot. The timer will continue to be extended in 5 minute increments for any Bidding received in the 5 minutes prior to the new Closing Time of such Lot.As with a traditional auction house, bidding will continue on each lot until there is no more interest in the room.

Lots have been allotted into groups, and the closing schedule for the various Lot Groups are as follows:

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LOT NUMBERS

UAE UTC +4:00

INDIA SRI LANKA UTC +5:30

US EASTERN UTC -4:00

US PACIFIC UTC -7:00

UK UTC +1:00

WEST AFRICA UTC +1:00

EAST AFRICA UTC +3:00

HONGKONG SINGAPORE UTC +8:00

1-5

5:30 p.m.

7:00 p.m.

8:30 a.m.

5:30 a.m.

1:30 p.m.

2:30 p.m.

4:30 p.m.

9:30 p.m.

6-10

6:00 p.m.

7:30 p.m.

9:00 a.m.

6:00 a.m.

2:00 p.m.

3:00 p.m.

5:00 p.m.

10:00 p.m.

11-15

6:30 p.m.

8:00 p.m.

9:30 a.m.

6:30 a.m.

2:30 p.m.

3:30 p.m.

5:30 p.m.

10:30 p.m.

ARTIANA

EASTERN AUSTRALIA UTC +10:00

12:30 a.m.

(January 21)

1:00 a.m.

(January 21)

1:30 a.m.

(January 21)

WRIT T EN / ABSENTEE BIDS FORM To enter Written / Absentee Bids, please sign the completed form and email it to auction@artiana.com at least 12 hours before the first closing time of the auction. For additional information, please refer to the ‘It’s Easy to Buy at Artiana’ and ‘Buying at Artiana’ sections in this catalogue or the ‘Frequently Asked Questions’ (FAQ’s) page on our website www.artiana.com.

“I request Artiana, without legal obligation on its part, to Bid on the Lots listed below, up to the Maximum Bid Amount I have specified. I agree that my Bid will be treated as an offer and is subject to the Conditions of Sale listed in the catalogue and on the website www.artiana.com. I understand that Artiana is accepting Written / Absentee Bids for the convenience of clients and I will not hold it liable for failure to record my Bid. I understand that the Maximum Written Bid once recorded cannot be cancelled and can only be increased via email confirmation or by completing another Written / Absentee Bids Form, specifying the higher maximum Bid amount/s.”

Please mention clearly in capital letters the Lot number and the description accurately (artist name, title). Bidders are requested to provide all invoicing details prior to the sale.The Bidder as registered with Artiana will be invoiced, and no invoices will be changed after the sale.

HANDBAGS & ACCESSORIES : THE HERMÈS EDIT

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BIDDING INCREMENTS Bidding begins below the lower estimate, and increases in steps, or increments.The next valid Bid is based on the increments listed below. If Bidders enter a Proxy Bid online, the next Bid is placed at the minimum incremental value.

Upto USD 2,000 USD 2,000 to 5,000 USD 5,000 to 10,000 USD 10,000 to 50,000 USD 50,000 to 100,000 USD 100,000 to 200,000 USD 200,000 and upwards

BIDDING ACCESS LEVELS All the lots in the catalogue are categorized into Silver, Gold, Platinum and Diamond Levels based on their Lower Estimate values.The high value lots will be categorized as Gold Level, Platinum Level and Diamond Level for which bidding access at these levels would be required

Lower Estimate Up to USD 19,999 Lower Estimate USD 20,000 to 49,999 Lower Estimate USD 50,000 to 199,999 Lower Estimate USD 200,000 and upwards

1. I agree and consent to pay all the applicable duties, fees, shipping and handling charges.

2. I understand that if Artiana receives identical Absentee or Proxy Bids, and if these Bids are higher or equal to the Reserve Price, Artiana will sell the Lot to the Bidder, whose Bid it received and accepted first.

3. I understand that Absentee or Proxy Bids submitted on ‘No Reserve’ Lots will be executed at a minimum of 10% of the lower estimate (the ‘MinimumValue’), if there is no competing Bid, and the Absentee or Proxy Bid amount is greater than the Minimum Value.

4. I understand that the execution of Written / Absentee Bids is offered as an additional service for no extra charge.

Such bids are executed at the Bidder’s risk and undertaken subject to Artiana’s other commitments at the time of the auction.Artiana therefore cannot accept liability for any reasonable error or failure to place such Bids.

For New Bidders If you have not previously registered with Artiana, please create an ‘Artiana ID’ on our website.To participate in this auction, you will have to ‘Register to Bid’ with your Sign-In details.When contacted by our representative, please provide a proof of identity and address document, such as a copy of an official photo identity card (either a National Identity Card, Passport or Driver’s License). Once your documents are verified, you will be given access to Bid. You may also call our Auction Help Desk at +971 55 815 3030 or email info@artiana.com.

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BUYING AT ARTIANA Estimates • Estimates are based on prices recently paid at auction or average market value of the Lot as determined by Artiana’s specialists.

• These Estimates are prepared well in advance of the sale and are subject to revision.

• Estimates are provided only as a guide for buyers and should not be relied on as a prediction of actual price.

Reserves • The Reserve Price is the minimum price at which the Lot shall be sold.

• The Reserve Price is confidential and will not be disclosed.

• The Reserve Price is always lower or equal to low estimate.

Customs Duty, Buyer’s Premium and Value Added Tax • Customs duty of 5% will be applicable for GCC wide delivery of certain Lots that have been temporarily imported into the UAE for re-export.

These Lots will be identified in the catalogue accordingly.

• Artiana does not charge any Buyer’s Premium.

• No taxes are applicable on purchases from Rest of World and designated VAT exempt free zones.

• Value Added Tax (VAT) of 5% will be applicable on Artiana’s invoice on any and all purchases from within the UAE, excepting designated VAT exempt free zones.

Pre-Auction Viewings • Pre-auction viewings will be held at Artiana’s viewing gallery in Dubai at the dates and times printed in the front of the catalogue.

• Artiana’s auction specialists will be available to provide advice regarding Lots on display.

• Artiana encourages prospective buyers to examine Lots thoroughly before the auction.

Pre-Registration & Bidding Access • Prospective Bidders are asked to register with us before Bidding.This simple, one-time process will allow users to create a unique Artiana ID and password, which will be required in order to Bid in all our auctions.

• After creating an Artiana ID and password, prospective Bidders will still need to request for Bidding access for a particular Lot by clicking on the ‘Register for Sale’ button.

• Bidders will still need to request for Bidding access for a particular Lot by clicking on the ‘Register for Sale’ button.

• Once this request has been processed by the Artiana Auction Desk, the Bidder will receive an email confirmation of Bidding access.

• In the event that additional information is required for approval, the Bidder will be directly contacted by an Artiana representative.

• Please note that if this process has not taken place, you shall not be granted Bidding access.

• It is recommended that all Bidders register at least 24 hours before the auction.

Personalised Notifications • After signing into Artiana and accessing the ‘My Account’ page, you may select artists of interest and request to be notified when they become available at auction.

Proxy / Maximum Bids • Proxy or Maximum Bids can be placed on any Lot by going to ‘Upcoming Auctions’ or ‘Current Auctions’, selecting the catalogue of interest, and clicking the ‘Proxy Bid’ button next to the Lot on which you wish to Bid. • Please note that you must be registered and Signed In to place a Bid at any time.

Written / Absentee Bids • Written or Absentee Bids can be placed on any Lot by contacting the Artiana Auction Desk in person, or by email at auction@artiana.com.

• You may place a Written / Absentee Bid by filling out, signing and submitting the Written / Absentee Bids form available online and in the printed catalogue.

• It is recommended that all Bids come in at least 12 hours before the first Closing Time of the Auction.

Starting Bid • Starting Bid is the value at which the auction house opens the Bidding on each Lot. • Starting Bid can sometimes be lower than the value of the lower estimate.

Bidding Online • Once you are signed in and granted Bidding access, you may proceed to Bid. • After you have identified the Lot on which you would like to Bid, click on ‘Place Bid’ and confirm your Bid at the next valid Bid value listed.

• Now, you will be able to participate in the Bidding process by entering the next valid Bid each time you are out-bid.

• Each new Bid will increase in steps or increments over the previous valid Bid.

HANDBAGS & ACCESSORIES : THE HERMÈS EDIT

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Bidding Increments • Bidding Increments will be calculated as shown in the Bid increment table in this catalogue.

Bid History • All Lots have Bid History available, which can be viewed by clicking on ‘View Bid History.’

• Bid History indicates the values recorded for each Lot since the start of the auction.

• Bid History will not be displayed once the auction has closed.

Auction Closing Schedule • Predetermined groups of Lots will close simultaneously in Lot order every 30 minutes.

• If a Bid is placed within the last 5 minutes, the timer on your screen will be extended to 5 minutes after the scheduled Closing Time of the Lot. • The timer will continue to be extended in 5 minute increments for any Bidding received in the 5 minutes prior to the new Closing Time of such Lot. • As with a traditional auction house, Bidding will continue on each Lot until there is no more interest in the room.

• For more information on the closing times for this sale, please refer to the Auction Closing Schedule in the catalogue.

Winning / Successful Bid • Winning or Successful Bid is the last and highest Bid at which the Lot has closed.

• No new Bids can be placed after the close of a Lot. • The closing Bid is considered the Winning Bid only if the Bid exceeds the Reserve Price.

• Artiana reserves the right to publish all Winning Bids on the website after the close of the auction.

Currency of Bidding and Invoicing • All Bids are placed in US Dollars (USD).

• All Invoices are raised in US Dollars (USD).

• Payments received in UAE Dirhams (AED) will be converted to USD as per Artiana’s standard conversion rate of 1USD=3.675 AED. • Payments received in any other currency will be converted to USD as per the bank’s sheet rate on the day of transaction.

Bid Cancellation • Once any Bid has been placed, it cannot be cancelled.

• Artiana reserves the right to cancel any Bids in order to protect the efficacy of the Bidding process.

After the Sale • If a Bidder is successful, he shall be informed via email after the auction has closed and will also be able to view his winning Bids under ‘Successful Bids’ on the ‘My Account’ page on the website.

• The Bidder will then receive an email with the invoice for the Lot. • If a Bidder is the winning Bidder, he is legally bound to purchase the item from Artiana.

• Please note that purchases will not be shipped out until full payment has been received and cleared.

Invoicing & Payment • All details for the invoice are to be provided and verified prior to the auction.

• For any and all clients and/or transactions from Rest of World except the UAE invoicing and payments are processed by Artiana Limited, a company duly incorporated under the RAK ICC Business Companies Regulations 2016 bearing registered number IC20120900; and for any and all clients and/or transactions from within the UAE invoicing and payments are processed by Artiana Limited, a company duly incorporated under the Dubai International Financial Centre bearing registered number 2249.

• After the sale, the Buyer, as invoiced, is required to pay the amount in full (including the Winning Bid, VAT and any applicable charges for additional services availed).

• Buyers will be required to complete payment within a period of seven business days from the receipt of the invoice via email.

• Artiana shall only release Lots once the payment is made in full.

• Bank Transfer: You may electronically transfer funds to our account in US dollars.When doing so, please quote the sale details along with the Lot number and invoice number as the reference. For payments made by bank transfer, all bank charges are payable by the remitter.

• Credit and Debit Cards: Visa and Mastercard only. Please note that as Artiana does not charge any Buyer’s Premium to the Buyer, for any payments made by Credit or Debit Cards a service charge of 3% on the total invoice amount will be charged to the Buyer. It may be advisable to notify your card provider of your intended purchase in advance to reduce delays caused by us having to seek payment authorisation.

Delivery / Collection of Purchase & Insurance • Price estimates and/or the Winning Bid price do not include any packing, insurance, shipping or handling charges, all of which will be borne by the Buyer.

• Works will be shipped within 7 days of the payment being cleared.

• Artiana offers free delivery in Dubai and can recommend our affiliated shipping company for deliveries outside the UAE. For more information, please refer to the ‘Storage and Collection’ page in this catalogue.

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• Alternatively, Buyers may choose to collect their purchase from Artiana in Dubai within 15 days from the date of the sale.

• Buyers who have not completed payment formalities will be charged demurrage @ 2% per month on the value of the artworks and the charges for storage of the property.

• Artiana provides insurance coverage on sold Lots for seven days after the Closing Time of the auction. After that period, or once a Lot has been collected (whichever is earlier), the Lot will be entirely at the buyer’s risk.

Participate in our next auction • If you would like to stay informed of Artiana’s upcoming events, please register with us online at www.artiana.com Consign for our next auction • If you are interested in consigning works from your collection to our next sale, please contact us at the Artiana Auction Desk on +971 55 815 3030 | auction@artiana.com

• Fully climate controlled art storage facility • In-house art handling truck for transportation • Bespoke collection management services • Located in the safe and convenient jurisdiction of Dubai International Financial Centre (DIFC) • Assets stored are governed by a commonlaw framework with laws and regulations issued in English

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FINANCE AT ARTIANA What is Artiana Fine Art Finance?

Artiana Fine Art Finance is our art finance advisory division. Leveraging upon the strength of our auction house platform, we specialize in financing solutions that cater to both—buyers in our auctions as well as others who can borrow against blue-chip Indian art works.

What services does Artiana Fine Art Finance provide?

We provide finance solutions to consignors and FlexiPay options to buyers at our auctions, and arrange advances secured against Indian fine art at competitive interest rates. Our bespoke finance solutions provide financing for fresh acquisitions or existing collections.

What is FlexiPay? Buyers at our auctions can avail of our FlexiPay scheme to pay for the lots won by them subject to eligibility, and securing a pre-approval before the auction. Bidders intending to use FlexiPay to pay for their items should contact the auction desk before the auction with details of the total anticipated amount and specific lot/s that would be required to be covered by the FlexiPay scheme in case the bids are successful.The FlexiPay scheme covers up to 80% of the lower estimate value of the lots excluding any taxes and/or levies, and the balance amount over and above the amount covered by the FlexiPay scheme has to be settled within the regular timeline as mentioned in the invoice.The item/s remain in the custody of Artiana till all amounts due under the scheme and any other incidental charges are cleared in full by the buyer.

What is the tenor and charges for the FlexiPay scheme?

The maximum amount covered by the FlexiPay scheme is up to 80% of lower estimate value of the respective lot, which can be divided into equal payments ranging from 3 to 12 months and the service charges payable for availing the scheme is a flat rate of 12 % p.a. prorated as per the payment tenor.There is no arrangement fee or storage charges applicable whereas insurance charges are billed at actuals to all FlexiPay clients.

Why finance or borrow against art?

By financing their purchases at Artiana auctions, clients can take advantage of opportunity buys and schedule a delayed or installment payment on their acquisitions based on their cash flows. By leveraging existing artworks, our clients optimize the use and enjoyment of their collection, while unlocking equity and allowing further portfolio diversification.

What type of art does Artiana Fine Art Finance accept as collateral?

We will consider individual artworks and collections of blue-chip Indian fine art as collateral.Artworks must be freely marketable and produced by prominent artists with an existing track record in the secondary market.

What is the artwork evaluation process for external art collateral?

We are an auction house, and offer advisory services on a highly confidential basis to evaluate artworks.The individual artwork or collection will be estimated by us as if they are being proposed for auction, and the advance against these item/s will typically be 50% of the lower estimate value offered by us.We will also require an independent inspection by a conservator.

What Loan-To-Value (LTV) does Artiana Fine Art Finance offer against the artworks?

We will typically advance up to 80% of the lower estimate value of artworks purchased at our auctions or up to 60% of the appraised value of the proposed external art collateral.

What are the advance sizes that Artiana Fine Art Finance offers?

We arrange advances starting at USD 50,000 and can assist in securing advances of substantially larger amounts. For buyers at our auctions we can offer a reduced threshold on a case-to-case basis.

How long does the disbursal take?

The approval depends on the location of the artworks and the clients’ art ownership structure. However, our domain expertise and large, liquid balance sheets of our financiers allow us to complete the process more quickly than traditional operators.

Do our clients retain possession of their art?

No, we require that the artwork be held as collateral in our art storage facility till the advance has been fully paid back to our financier.

Will the artworks be insured during the term they are held as collateral in storage?

Throughout the term that the artworks are held as collateral they will be insured at double of the advance amount, to cover the full value of the art asset.The policy will be assigned to us for distributing the amounts as stipulated, between the client and financier.The insurance covers the items right from the time of collection, during storage until the final handover.

Who owns the artworks during the term they are held as collateral in storage?

The artworks remain the clients’ property during the entire storage period.

What are the advantages of Artiana’s Fine Art Finance compared to a traditional bank loan?

Our advances offer flexibility and a variable tenors up to 24 months with a no-charge early exit option. Unlocking equity and receiving liquidity without cumbersome documentation and credit approval process.There is no personal liability, the collateralized artworks are the sole guarantee towards the advance (non recourse).

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What are the early exit options before expiry of the agreed tenor?

Clients can request an early exit before the expiry of the agreed tenor by giving 30 days notice without any exit charges being payable.Any advance service charges collected in such cases will be non-refundable.

What are the charges and costs for the service and advance?

Artiana Fine Art Finance will charge an arrangement fee of 2% of the advance amounts arranged against external art assets, this fee is waived for finance arranged against purchases made in our auctions. Depending on the value, tenor and terms of the advance the charges are calculated at typically 15 % p.a., payable quarterly in advance for fixed maturity payments, and at a flat rate of 12 % p.a. for monthly installment payments.

The charges are set at the start of the facility and fixed for the entire tenor.There are no additional costs for evaluation and storage, insurance cover is procured by Artiana to cover the full value of the asset and billed at actuals to the client.

• FlexiPay scheme for buyers at our auctions • Bespoke solutions for consignors and collectors • Fast decisions and quick disbursals • Flexible tenors and repayment options • No early exit fees payable

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CONDITIONS OF SALE

Artiana: Artiana refers to our relevant corporate entity acting as a representative of either itself, any of its affiliates, assigns or any of its Sellers.

• For any and all clients and/or transactions from Rest of World except the UAE: Refers to Artiana Limited, a company duly incorporated in RAK International Corporate Centre - UAE, bearing registration number IC20120900.

• For any and all clients and/or transactions from within the UAE: Refers to Artiana FZE, a company duly incorporated in the Hamriyah Freezone - UAE, bearing registered number 19542.

(Designated VAT exempt free zones within the UAE are deemed as Rest of World region) Artiana Server: The system(s) that provides computer devices with access to resources shared on computer networks, including Artiana data, application files and printers.

Auction: An auction of Property(ies)/Lot(s) to be conducted by Artiana on www.artiana.com or any other website on the date indicated in the Auction Catalogue.

Auction Catalogue: The catalogue as published by Artiana, whether in print, on the Mobile Application, or on the Website, including the Print Auction Catalogue, the MobileApp Auction Catalogue, the Online Auction Catalogue, and the eCatalogue with respect to an Auction, containing details of the Auction along with the description, price and other details of Properties to be offered for sale at such Auction. In case of any discrepancy between the Print Auction Catalogue, the MobileApp Auction Catalogue, the Online Auction Catalogue and/or the eCatalogue, the Online Auction Catalogue, as modified by Artiana from time to time, shall take precedence.

Auction Closing Schedule: The schedule specifying the closing times for Bids for each Lot to be sold through the Auction as specified in the Auction Catalogue.

Bid: The price offered by a Bidder to purchase a particular Property offered for sale at an Auction.

Bidder:A person making a Bid for the purchase of one or more Property(ies) offered for sale at an Auction in accordance with the terms and conditions set out in the Conditions of Sale and such person shall be deemed to have entered into all applicable contracts under the governing law.

Buyer: The Bidder making the Winning Bid with respect to a Property(ies), who has thereby agreed to pay/ has paid the Sale Price payable with respect to such Property(ies).

Closing Date: The date specified in the Auction Closing Schedule on which the Auction closes.

Closing Time: The time at which the Auction for any of the Lot Groups listed in the Auction Closing Schedule closes.

Conditions of Sale: The Conditions, which are published in any of the Auction Catalogues and are applicable to every Bid and every sale of Property made through an Auction. In case of a conflict between the Conditions published in the Online Auction Catalogue and in the Print Auction Catalogue or eCatalogue, the Online Auction

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Catalogue version, as modified by Artiana from time to time, shall take precedence.

Cultural Artifacts: Antiquities and items of historical interest or significance designated as Cultural Property.

Description: All the details of a Property as set out in the Auction Catalogue and may include, without limitation, the name of the artist, designer or manufacturer, the title of the Property, and the following additional details.

• For Artworks: The signature of the artist/date of the Property (if any), the surface, medium, edition number (wherever applicable) and dimensions of the Property.

• For Precious Objects: Any other features or characteristics of the Property mentioned in the Auction Catalogue. eCatalogue: An electronic reproduction of the Print Auction Catalogue that may be made available on the Website for certain auctions.

Lot Groups:The Properties grouped together for Auction that will close at a particular time.

Mobile Application: Refers to Artiana’s proprietary mobile auction application, as updated from time to time, and available for download from the Apple App Store or Google Play, for the purpose of viewing the Auction Catalogue, placing Bids, viewing Auction results, accessing other information related to Artiana or the Auction, and receiving push notifications on a mobile device.

MobileApp Auction Catalogue: The screens within the Mobile Application relating to the Auction, as may be amended from time to time.

Notices: Information included in the Auction Catalogue by Artiana - whether in print or online or on the Mobile Application - to correct errors and omissions in the Auction Catalogue. Although these are provided for the Bidders’ convenience, the Online Auction Catalogue, as modified by Artiana from time to time, shall take precedence in all cases of discrepancy.

Online Auction Catalogue: The web pages on the Website relating to the Auction, as may be amended from time to time including web pages accessible via the link “Auction Catalogue” (including all pages providing details related to the Property(ies)), as well as additional pages containing details of the Auction accessible via the link “About the Auction.”

Precious Objects: Jewellery, watches, loose precious stones and any other objects offered for sale within the context of an Auction.

Print Auction Catalogue: The printed version of the Auction Catalogue.

Property/Lot: The Artworks, Precious Objects, and any other items offered by Artiana for sale, either individually or collectively (as a single unit), through the Auction.

Proxy Bid: Refers to any Proxy/Maximum Bid placed by a buyer on the Website authorising the auction software to automatically Bid on his behalf, until such Maximum amount is reached.

Reserve Price:The minimum price, as determined by Artiana and the Seller, acceptable for the sale of the Property through an Auction.

Seller: The party consigning the Property to Artiana as its agent for sale through Auction.

Technical Downtime: The time period during which the Artiana Server or the Website is not operational due to a malfunction or planned maintenance.

Terms of Business: The terms of business executed between Artiana and the Seller including but not limited to the consignment agreement.

Website: The collection of HTML and/or internet data and media located at the URL www.artiana.com and/or any other URL linked to the Website.

Winning Bid/Sale Price: The highest Bid offered with respect to a Property at the Closing Time, where the Winning Bid shall either be higher than or equal to the Reserve Price.

Winning Bidder: The Bidder who has placed the Winning Bid. Written Bid: Refers to any Written/Absentee Bid recorded with Artiana upon submission of the completed Written/Absentee Bids form at least 12 hours before the first Closing Time.

By participating in this Auction, you acknowledge that you are bound by the Conditions of Sale as listed below and on the Website.

2.1. Artiana’s role as the agent of the Seller:Artiana undertakes to sell the Properties through Auction as the agent for and on behalf of the Seller.

2.2. Making a Bid constitutes an irrevocable offer to purchase the Property, and the acceptance of a Bid as the Winning Bid by Artiana shall result in an enforceable contract of sale between Artiana, acting solely as the agent of the Seller, and the Winning Bidder.

2.3. Artiana is authorised by the Seller to exercise its complete discretion in: • determining the form and content of the Descriptions in the Auction Catalogue, • granting Bidding access to a Bidder, • recording, rejecting or accepting Bids, and • deciding which Bid constitutes the Winning Bid, if any.

(Bidding access shall be given at Artiana’s discretion and Artiana may set limits on the total value of all Bids made and/or the number of Bids that may be made by a Bidder.Artiana may also require payment guarantees and/or deposits as a condition precedent to giving Bidding access to a Bidder. Bidders will be informed of the limits on the total Bid value and/or the number of Bids that they may make, if any, and will not be allowed to Bid further if either of such Bidding limit has been exhausted. Bid updates and time extensions, if any, shall be updated on the Website and Mobile Application. On both the Website and the Mobile App, Bidders may refresh their Bidding pages by clicking on the “Refresh Now” icon or the re-load/refresh buttons on their browsers, where applicable. Artiana shall evaluate the Bid histories of specific Lot Groups periodically to preserve the efficacy of the Auction process.This exercise may be conducted by Artiana internally or through third parties solely at the discretion of Artiana.)

2.4. Closing Times For the convenience of Bidders, particularly those who are placing Bids on more than one Lot, Lot Groups are scheduled to close at 30-minute time intervals during the Auction.

The Bidding for various Lot Groups shall be closed in accordance with the Auction Closing Schedule. However, in the event that Artiana records any Bidding activity in the 5 minutes prior to the

closing of a Lot, the Closing Time for such a Lot shall be extended by 5 minutes from its originally scheduled Closing Time.The Closing Time shall continue to be extended in 5-minute increments for any subsequent Bidding received in the 5 minutes prior to the closing of such Lot. In the event that the Closing Time is extended in accordance with this Clause, bidding on the Lot shall only end if no Bidding activity is recorded by Artiana during the last 5 minutes of extended time. Bidders are advised to click on the “Refresh Now” icon on the Website page or in the Mobile Application at regular intervals in accordance with the provisions of Clause 2.5 for updates on latest Bids and time extensions if any.

2.5. Tracking Bids The Website shall contain a link titled ‘Lots I Bid On’ within the page ‘Current Auction’ and the Bidder may click on this link to access information on all Bids made on various Lots. For ease of tracking Bids, Bidders are advised to assign Bidding nicknames to themselves.

The Website and Mobile Application shall contain: • The Bid history for each Lot, being the last 5 Bid amounts that have been recorded until and including the current highest Bid; and • A countdown clock indicating the amount of time available for placing Bids before the Closing Time.

The Bid history, current Bid, and countdown clock shall be accurate at the time of downloading of those values, provided that such information has not changed during the time taken for this information to reach the Bidder’s computer or mobile device from the Artiana Server.The most updated Bid values shall be shown only when the Website page or the Mobile Application page containing the information on Bid values is refreshed; which shall happen either automatically at regular intervals (Every 5 minutes prior to one hour before the closing time of the first Lot/Lot Group and every 1 minute within the last hour of the closing time of the first Lot/Lot Group and shall continue refreshing every minute till the close of the last Lot/Lot Group) or when a Bidder clicks on the ‘Refresh Now’ icon on the Website page or in the Mobile Application page.

When the countdown clock counts down to zero, in the case where the Closing Time with respect to a particular Lot has been extended by a further 5 minutes pursuant to Clause 2.4 above, the countdown clock may not reflect such extension. As such, the Bidder may wait for the values on the page to refresh automatically on the Website, or click on the ‘Refresh Now’ link on the page or in the Mobile Application to determine whether the Closing Time has been extended for that Lot. The countdown clock combined with the current highest Bid as shown in the Bid history on the Website shall only be an indication of the highest Bid amount at the time when the values on the Website or Mobile Application were refreshed in the manner set out in Clause 2.5 above. Should bidders want more frequent updates, they are advised to refresh values as described in Clause 2.5 in order to view the most updated Bid history and countdown clock.

Due to the nature of internet and/or mobile traffic, there may be an unpredictable time lag between a Bidder placing a Bid, and that Bid being received by Artiana.Therefore, although a Bidder may have placed his/her Bid prior to Closing Time, Artiana may receive the Bid after the Closing Time for the Lot with respect to which the Bid has been placed and shall, in such an event, be rejected. In order to prevent Bids being rejected in such a manner, Bidders may set Proxy Bids/Maximum Bids for Lots on which they wish to Bid.

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Written/Absentee Bids may be recorded with Artiana 12 hours prior to the first Closing Time, subject to the other provisions of these Conditions of Sale, including any limits imposed by Artiana on the number of Bids that might be placed by a Bidder.

date of either receiving the funds from the Buyer or remitting the funds to the Seller. In the case of payments for purchases being made in UAE Dirhams (AED), a standard conversion rate of 1USD = 3.675 AED will apply.

2.6. Bidders are advised to keep their Artiana ID and password secure at all times.Artiana will hold the Bidder responsible for all Bids placed using their Artiana ID and password, whether via the Website or a mobile device. Bidders using the Mobile Bidding Application are advised to keep their mobile devices secure and set passwords for them to prevent unauthorised use.

2.13. All Bidders are required to provide complete and accurate invoicing details to Artiana at the time of registration for the Auction. Invoicing details, once registered, will not be changed.The Bidder shall be invoiced based on details provided at the time of registering for the Auction. For any and all transactions from Rest of World except the UAE invoicing and/or payments are processed by Artiana Limited, a company duly incorporated under the RAK ICC Business Companies Regulations 2016 bearing registered number IC20120900; and for any and all transactions from within the UAE invoicing and/or payments are processed by Artiana Limited, a company duly incorporated under the Dubai International Financial Centre bearing registered number 2249.

2.7. Artiana reserves the right to withdraw any Property before, during or after the Auction, if it has reason to believe that the authenticity of the Property or the accuracy of the Description is in doubt, or if there is a breach of the Terms of Business, or in the case of error or dispute, or if Artiana otherwise believes, at its sole discretion, that it would be improper to include the Property in the Auction, and can during or after the Auction continue the bidding, determine the successful Bidder, cancel the sale of the Lot, or re-offer and resell any Lot. 2.8. All Property(ies) shall be sold subject to the Reserve Price. If the Winning Bid is below the Reserve Price, the Property shall be considered unsold except in such case where the Winning Bid is a Proxy Bid and the maximum limit on the Proxy Bid either matches or is higher than the Reserve Price. In such cases the Property(ies) shall be sold at Reserve Price to the Proxy Bidder.The Reserve Price on each Property shall be confidential and Artiana shall have no obligation to disclose the same to any Bidder.

2.9. Artiana will invoice the Buyer for the Sale Price (Winning Bid) and any additional charges that may be incurred by Artiana are applicable on the sale, including shipping and handling of the Property. 5% VAT will be charged on Artiana’s invoice and is applicable on any and all purchases from within the UAE. 2.10. The title to the Properties purchased in an Auction shall pass to the Buyer at the Closing Time subject to the conditions in clause 2.7 for those Properties where a Buyer holds the Winning Bid and said Buyer assumes full risk and responsibilities for the Properties thereafter. Properties purchased will not be released or shipped out to the Buyer or his representative until the Buyer has fulfilled his payment and other obligations as described in these Conditions of Sale. Artiana may exercise a lien on the Properties under the conditions described in Clause 2.17.

2.11. Bidding Increments will be calculated as shown in the Bidding Increment table below.

2.12. The Auction is conducted in United States Dollars (USD) and, for any transaction in other currencies, the exchange rate will be calculated as per the sheet rate of the bank specified by Artiana on the

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2.14. The Winning Bidder shall pay the Sale Price in full (including any additional charges and VAT, if applicable) within seven business days from the Closing Date. No shipment or delivery of the Property will be made to the Winning Bidder if the Sale Price, and any other additional charges that may be payable by the Buyer, are not received

by Artiana and until all proper documentation in connection with the sale of the Property has been completed. Payments will not be accepted from any parties other than the Winning Bidder as recorded on the invoice.

2.15. Non payment The Winning Bidder shall ensure that invoices provided by Artiana are paid in full and all remittance of amounts due under said invoice is made within seven business days from the date of the invoice. In the case that payments are not received within such period, it shall be treated as a breach of contract of sale by the Buyer and, in such an event,Artiana is authorised at its sole discretion to cancel the sale upon expiry of this stipulated period of seven business days without being obliged to inform the Buyer of the same, and the Seller authorises Artiana to take any steps (including reporting the late payments, missed payments, or other defaults on the account to any credit bureau and the institution of legal proceedings), as deemed appropriate, to enforce the full or any differential payment due by the Buyer. In addition, the Buyer will be charged demurrage @ 2% of the total value (Winning Bid) per month until the date of actual payment.

2.16. Failure to collect If the Buyer informs Artiana that he wishes to collect the Property(ies) from Artiana in person and such Property(ies) is not collected by the Buyer within 15 days from the auction closing date, Artiana shall arrange for storage of the Property(ies) at the Buyer’s expense, and shall only release the Property(ies) after payment has been made, in full, including demurrage @ 2% of the total value (Winning Bid plus any other additional charges, if applicable) per month for all payments due and the charges for storage of the Property(ies), if any.

2.17. Artiana shall be entitled to exercise a lien on the Property(ies) for payment of any sums receivable from the Buyer, including the Sale Price and costs relating to storage and insurance where they are to be borne by the Buyer, in relation to any Property(ies) purchased by the Buyer.

2.18. Artiana reserves the right to not award the Winning Bid to the highest Bidder at the Closing Date if it deems it necessary to do so.

2.19. The Buyer acknowledges that Artiana will abide by any export restrictions that may apply in the countries from where specific Property(ies) will be shipped.The Buyer shall also be responsible to ensure that the Property(ies) is freely importable into the country where such Property(ies) is intended for delivery (as specified by the Buyer). In the event the Buyer or Artiana become aware of any restrictions to such import subsequent to the completion of the Auction, the Buyer may provide an alternate delivery destination to Artiana. (Such restrictions on import of any Property/Lot purchased by a Buyer shall not qualify as grounds for the Buyer to cancel such sale under any circumstances). All costs associated with the process of delivery and storage (when required) of the Property(ies) shall be borne by the Buyer.The Property(ies) shall be handed over to the Buyer, or his nominee, only upon full payment of all such costs.

2.20. Artiana has the right to exercise reasonable discretion in setting Bid increments as per Clause 2.11 or otherwise, refusing any Bid, advancing the Bidding, withdrawing or dividing any Lot, combining two or more Lots; and in the case of error or dispute, during or after the sale, determining the successful Bidder, continuing the Bidding, cancelling the sale or reoffering and reselling the item in dispute. If any dispute arises after the sale, then, in the absence of any evidence to the contrary, the sale record maintained by Artiana will be conclusive.

2.21. Written Bids are accepted from Bidders once they have been given Bidding access for the Auction.These are entered as online direct or Proxy Bids by Artiana, and may not be stopped or altered by the Bidder once the Auction has commenced.Written Bids are accepted until twelve hours prior to the first Closing Time.

2.22. Artiana employees may not Bid in the Auction once the Auction has started.They may however submit a Written Bid for an amount that may be equal to or above the lower estimate of a Lot before the Auction commences and have a Proxy Bid placed on their behalf. Once the Auction has begun, they may only increase their Proxy Bid. 2.23. Artiana employees may Bid in charity auctions that are held on the Artiana Auction platform.

2.24. Sellers are not allowed to Bid on the particular Lot(s) they have consigned.

2.25. Artiana does not place or allow any Bids to be placed on behalf of the Seller. All of the Bids recorded at Artiana are from registered Bidders.

2.26. Once a Bid is registered in our system, whether placed by an active Bidder or by Proxy, it is immediately and automatically displayed for all registered users to see.

2.27. Technical Downtime In the unlikely event that the Website is inaccessible to Bidders worldwide due to Technical Downtime within the half hour prior to the scheduled Closing Time for any of the Lot Groups, the Closing Time of that Lot group and subsequent Lot Groups will be extended by the duration of the Technical Downtime. In case the Technical Downtime extends beyond the Closing Time for a particular Lot Group, the Website shall, after the Technical Downtime, show the Auction for the particular Lot Group as closed. However, the Closing Time for such Lot Group and subsequent Lot Groups shall be extended by the duration of the Technical Downtime and appropriate details of the extension shall be published on the Website shortly after recovery from the Technical Downtime. Note that any malfunction in

the Mobile Application does not constitute Technical Downtime. In the event of such malfunction, Bidders should use the Website to place Bids.

2.28. Bids recorded prior to any Technical Downtime will be treated as valid according to the Conditions of Sale. Artiana shall not be liable for any loss of information due to the Technical Downtime.The data logs of the Artiana Server will determine the duration of the Technical Downtime and any determination made by Artiana in respect of extension of the Closing Time shall be final.

3.1. Artiana offers all Property(ies) for sale at the Auction “as is”, which means that the Property(ies) are sold with all existing faults and imperfections. Measurements are given as Height x Width x Depth in decimal inches (rationalized to the closest 0.25, 0.5, 0.75) and in decimal centimetres.Artiana encourages all potential Buyers to inspect each item carefully before Bidding.

3.2. Any statements made by Artiana about any Property(ies), whether orally or in writing concerning attribution to, for example, any school of art or craftsmanship, country or origin, history or provenance, are only expressions of Artiana’s own opinion or belief.

Such opinions or beliefs including the estimate values of the properties have been formed honestly in accordance with the standard of care expected of an auction house. However, Artiana does not in anyway represent that it has carried out exhaustive research or analysis, and it is therefore recommended, especially in cases of Property(ies) of high value, that potential Buyers seek advice on such matters from their own professional advisors.

3.3. The Buyer undertakes: • to inspect and satisfy himself prior to the Auction as to the condition and description of the Property(ies); • to rely on his own judgment as to whether the Property(ies) matches its description; and • to not rely on an illustration of any Property(ies) given in the Catalogue 3.4. Neither Artiana nor any of its affiliates, agents, representatives, employees or directors shall be liable for errors or omissions in any of the representations made in the Auction Catalogue or otherwise with respect to authenticity, description, or condition of any Property(ies) for sale through the Auction.

4.1. Artiana provides an assurance on behalf of the Seller that each artwork offered at auction, is a genuine work of the artist listed.

Artiana guarantees the authenticity of such artwork for a period of six months from the auction closing date.Authenticity in relation to artworks shall mean compliance of the artwork with the description provided on the website, particularly with reference to the name of the artist, title (if any) of the artwork, date, the school of art (if mentioned), dimensions, medium, etc.

In the unlikely event that within six months from the close of an auction, it is proved by the Buyer, to the reasonable satisfaction of Artiana, that the item was not authentic and if, in Artiana’s opinion, this would have significantly impacted the Winning Bid for the item, Artiana shall be entitled to rescind the sale. In such an event, the Seller will be liable to refund the payment for the item to the Buyer,

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through Artiana. The item in question will subsequently be returned to the Seller.

All such claims will be handled on a case-by-case basis, and in the case of an authenticity claim in relation to an artwork, examinable proof, clearly demonstrating that the item is not authentic, will be required. Such examinable proof should be provided by an established and acknowledged authority. Artiana’s decision, with regards to such claims, shall be final and binding.

4.2. The above guarantee given in clause 4.1 shall be subject to the following conditions: • The claim is made by the Buyer as registered with Artiana (the benefit of the claim is not assignable to any subsequent owners or others who may acquire or have an interest in any of the Properties) • The Property is returned in the same condition that it was in at the time of delivery of the Property to the Buyer • The Property was indisputably purchased through Artiana 4.3. In the case of Properties which have been categorised by Artiana as Precious Objects,Artiana provides an assurance, on behalf of the Seller, that each piece shall comply with characteristics or features mentioned in the Description of the Property in the Auction Catalogue for as long as the Property is in the possession of Artiana.

All colored stones unless certified may or may not be treated for enhancements. It is therefore advisable for Buyers or potential Buyers of such Properties, to inspect the Property prior to Bidding or prior to shipment or Buyer pickup from Artiana.

In the unlikely event that during such inspection, the Buyer is able to prove to the reasonable satisfaction of Artiana that the Property does not match the details in the Description, and if, in Artiana’s opinion, Bidders being aware of such error or omission would have Bid significantly less than the actual Sale Price, Artiana shall be entitled to rescind the sale and the Seller will be liable to refund to the Buyer the Sale Price paid for the Property; and Artiana shall hand over the Property to the Seller upon refund of the Sale Price paid to him for the Property. Once Artiana obtains the refunded amount from the Seller, it shall forward the same to the Buyer.This guarantee will not be applicable where the Property is being shipped to the Buyer

by Artiana.

4.4. In the case of Properties such as antiquities or items of historical interest which have been categorised by Artiana as Cultural Artifacts, Artiana provides an assurance, on behalf of the Seller, that each object of antiquarian or historical interest or significance has been acquired without violating any local or international laws.

In the unlikely event that it is proved that the acquisition, provenance and/or ownership of such Cultural Artifacts offered at our Auction is subject to a legal dispute, the Buyer shall keep Artiana indemnified from any such legal proceedings.

4.5. In all cases Artiana retains the right to consult with, at the expense of the Buyer, up to two recognized experts in the field (such experts being mutually acceptable to Artiana and the Buyer), to examine the Property under question before deciding to rescind the sale and offer the refund under the above guarantee.The opinion of the experts shall not be binding on Artiana.

4.6. In the event of the Seller’s failure to refund the proceeds as stated in this clause, the Buyer shall return the Property to Artiana and authorise Artiana as its agent to initiate legal proceedings against the Seller.Any such steps taken or legal proceedings instituted by Artiana, against the Seller, shall be at the cost of the Buyer and Artiana’s liability shall be limited as per Clause 5.1.

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5.1. Artiana has an obligation to refund the Sale Price to the Buyer only upon recovery of such amounts from the Seller and in the circumstances described in Clause 4 above (Authenticity Guarantee).

The Buyer indemnifies Artiana from any non-recovery of such amounts and agrees that they shall not hold Artiana responsible in case such amounts are not recoverable from the Seller. Artiana provides insurance coverage on sold Lots for seven days after the Closing Time of the auction.After that period, or once a Lot has been collected (whichever is earlier), the Lot will be entirely at the buyer’s risk. Damages, losses or loss in value of any artworks (including frames) incurred during shipping and transit are not covered as per the insurance policy taken by Artiana. In case the Buyer opts for transit insurance coverage arranged for by Artiana by any of their insurance providers,Artiana shall not entertain any direct claims for damage or loss during shipping and transit and these would have to be directed to such insurance providers; Subject to the authenticity guarantee above, neither Artiana’s suppliers nor Artiana, nor any of Artiana’s employees or agents, shall be responsible, either for the correctness of any statements as to the authorship, origin, date, age, attributes or genuineness of any Property in the sale, or for any mistakes in the Description, or for any faults or defects in the Properties, or for any other act or omission, whatsoever.Artiana offers no guarantee or warranty other than the limited assurance contained in the authenticity guarantee above.

5.2. It is stated and agreed that the rescission of the sale and the refund of the total Sale Price paid by the Buyer is the sole remedy that may be sought by a Buyer, and such remedy is exclusive and in lieu of any other remedy which may otherwise be available under law.

Artiana shall not be liable for any incidental or consequential damages incurred or claimed.

All content of the Print Auction Catalogue, eCatalogue and on the Website and Mobile Application are copyright protected in favour of Artiana. All trademarks, names, brand names, etc. used in the Print Auction Catalogue and on the Website and Mobile Application are trademarks of Artiana.Any rights not expressly granted herein are reserved. No image, illustration or written material may be used or required without the prior written permission of Artiana.Artiana and the Seller(s) make no representation or warranty that the Buyer of a Property will acquire any copyright or other reproduction rights in it.

7.1. Artiana may validly serve the Bidder/ Buyer with legal notice, if required, under these Conditions of Sale by: • Sending an email to the email address disclosed by the Bidder/ Buyer to Artiana; or • Sending a courier to the address disclosed by the Bidder/ Buyer to Artiana.

7.2. Such legal notice shall be deemed to have been properly served: • In the case of email transmission - on the date of the transmission; or • In case of transmission by courier - 2 business days after the dispatch of the notice by courier.

7.3. The notices and contract language shall be English.

7.4. Artiana is at all times entitled to involve third parties for ensuring the Buyer’s compliance and performance as per these Conditions of Sale, and the Buyer hereby grants his consent in this regard.

7.5. In the event of any dispute arising out of or in connection with these Conditions of Sale or related thereto in any manner whatsoever, the parties shall first seek settlement of that dispute by mediation in accordance with the Mediation Rules of the DIFC-LCIA Arbitration Centre, which Rules are deemed to be incorporated by reference into this clause.The Buyer irrevocably submits to the jurisdiction of the Dubai International Financial Centre (“DIFC”) Courts and waives any objection it may have to refer the disputes arising out of or in connection with these Conditions of Sale to the DIFC-LCIA Arbitration Centre on the grounds that it is an inconvenient forum (forum non conveniens). If the dispute is not settled by mediation within 60 days of the commencement of the mediation, or such further period as the parties shall agree in writing, then the parties agree to refer and resolve the dispute by arbitration in accordance with Clause 9.

If any part of the Conditions of Sale between the Buyer and Artiana is found legally invalid, illegal or unenforceable, that part may be discounted and the rest of the conditions will remain enforceable to the fullest extent permissible by law. In such cases, the Buyer and Artiana undertake to replace the wholly or partly legally invalid, illegal or unenforceable provision with one which is legally valid, legal or enforceable and whose economic purpose most closely reflects that of the legally invalid, illegal or unenforceable provision.

If the dispute is not settled by mediation in accordance with Clause 7.5 then the dispute shall be referred to and finally resolved by arbitration under the Arbitration Rules of the DIFC-LCIA Arbitration Centre, which Rules are deemed to be incorporated by reference into this clause. In any arbitration commenced pursuant to this clause, (i) the number of arbitrators shall be one; and (ii) the seat, or legal place, of arbitration shall be the DIFC.The language to be used in the arbitration shall be English.The governing law of the contract shall be the substantive law of England and Wales.

CONDITIONS OF FIXED PRICE SALE

Fixed Price Sale: A Private Sale or Selling Exhibition of Property(ies)/Lot(s) to be conducted by Artiana on www.artiana.com or any other website.

By participating in this Fixed Price Sale, you acknowledge that you are bound by the Conditions of Fixed Price Sale as clarified below and listed above in the Conditions of Sale and on the Website.

Fixed Price: The fixed sale price of the Property offered for immediate sale by Artiana in Private Sale or any Fixed Price Sale.

2.1. If a Fixed Price Sale functionality is offered on any of the Property permitting the Buyer to purchase such a Property at the Fixed Price displayed on the Website, or as communicated to the Buyer in response to their enquiry for that Property, the above listed Conditions of Sale will apply to the sale in the same manner as if the Buyer had been the Winning Bidder in an auction for that Property.

Private Sale: A Fixed Price Sale of Property(ies)/Lot(s) conducted

by Artiana outside of auction confidentially or on www.artiana.com or any other website.

Selling Exhibition: A Fixed Price Sale of Property(ies)/Lot(s) to be conducted by Artiana on www.artiana.com or any other website on the date indicated in the Exhibition Catalogue.

Viewing Room: The web pages on the Website relating to Private Sale, as may be amended from time to time including web pages accessible via the link “Viewing Rooms” (including all pages providing details related to the Property(ies)), as well as additional pages containing details of the Viewing Room accessible via the link “Private Sales.”

2.2. Our Conditions of Fixed Price Sale are applicable on all our Private Sale transactions, including Property offered in any of our Viewing Room or Selling Exhibition, and binding on all participants thereof.

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ARTIANA GUARANTEE

All artworks offered for sale by Artiana are authentic to the best of Artiana’s knowledge.

Artiana provides the following assurance to buyers on behalf of the seller who may be a collector, dealer, retailer or gallery, that each artwork offered for sale on the site is a genuine work of the artist listed.

Artiana guarantees the authenticity of the artwork for a period of six months from the auction closing date. Authenticity in relation to artworks shall mean compliance of the artwork with the description provided on the web site, particularly with reference to the name of the artist, title (if any) of the artwork itself, date, the school of art (if mentioned), dimensions, medium etc.

In the unlikely event that within six months from the close of an auction, it is proved by the buyer to the reasonable satisfaction of Artiana that the item was not authentic and if, in Artiana’s opinion, this would have significantly impacted the price a buyer would have been willing to pay for the item,Artiana shall be entitled to rescind the sale, and the seller will be liable to refund to the buyer the price paid for the item. Once the buyer returns the item to Artiana it shall be handed over to the seller by Artiana.

All such claims will be handled on a case-by-case basis, and in the case of an authenticity claim in relation to an artwork, such claim will require that examinable proof, which clearly demonstrates that the item is not authentic, is provided by an established and acknowledged authority.The decision of Artiana in respect of such claims shall be final and binding.

This guarantee shall be subject to the following conditions: 1. The claim is made by the buyer as registered with Artiana (the benefit of the claim is not assignable to any subsequent owners or others who may acquire or have an interest in any of the items).

2. The Property is returned in the same condition that it was in at the time of delivery of the item to the buyer.

3. The Property was indisputably purchased through Artiana.

Artiana retains the right to consult with, at the expense of the buyer, two recognised experts in the field, (such experts being mutually acceptable to Artiana and the buyer), to examine the item under question before deciding to rescind the sale and offer the refund under the above guarantee.The opinion of the experts shall not be binding on Artiana.

In the event of the seller’s failure to refund the proceeds as stated above, the buyer shall return the item to Artiana and authorise Artiana as its agent to initiate legal proceedings against the seller. Any such steps taken or legal proceedings instituted by Artiana against the seller shall be at the cost of the buyer.

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COLLECTION AND STORAGE Lots will only be released from our viewing gallery or art storage facility upon presenting a delivery order issued by Artiana. Lots will not be released until all outstanding charges due to Artiana are settled

Please note that Lots in our art storage facility can be collected only by prior appointment from Artiana, P2-22B, Park Towers, DIFC, Dubai, UAE

ARTIANA Help Desk: T: +971 55 815 3030 E: info@artiana.com Office Hours: 10.30 am - 6.30 pm

Important Information • All Lots will be stored free of charge for 15 days from the auction closing date either at Artiana’s viewing gallery or at our art storage facility.

• After 15 days from the closing date of the auction, Lots shall be subject to a daily storage charge of USD 4 per Lot plus an administrative fee of USD 50 payable to Artiana.

• As set out in the Conditions of Sale, risk and responsibility for the sold Lots (including frames or glass where relevant) passes to the Buyer at the Auction Closing Time. Artiana provides insurance coverage for sold Lots for seven days after the auction. Buyers are reminded that it is their responsibility to arrange adequate insurance for purchased Lots thereafter.

• Lots sold at auction may be subject to import restrictions/taxes of foreign countries. It is the buyer’s sole responsibility to obtain any relevant import license into the buyer’s own country of residence and settle any taxes and destination clearance charges due.

• Shipments can only be made once all outstanding charges due to Artiana are settled and full payment of all shipping charges is received by the logistics service provider.

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www.artiana.com Viewing Gallery: P2-1A, DAMAC Park Towers, DIFC, Dubai, UAE E info@artiana.com T +971 55 815 3030

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