Buying & Bidding Information

Prior to bidding, all participants must read the Buying & Bidding Information and the Conditions of Sale contained in this catalog, which state the terms governing the purchase of alcoholic beverage products sold at auction. Auctions are operated by: (i) Zachys Asia Limited in respect of auctions which are conducted from Hong Kong; (ii) Zachys Wine Auctions, Inc in respect of auctions which are conducted from anywhere else in the world; and (iii) in respect of online-only auctions, the entity stated in the auction particulars as operator of the auction, (each referred to as "Zachys") acting as agent for and on behalf of the relevant consignor of the goods to be offered for sale (the "Consignor"). By participating in an auction, an auction participant ("Buyer") agrees to be bound by this Buying & Bidding Information and the Conditions of Sale in this catalog (whether in print or online).

Estimates

Catalog lot entries include a description of every lot and an estimated price range, which is our opinion of the price expected at auction. Estimates guide bidders and generally reflect prices recently paid at auction for comparable alcoholic beverage products. Each estimate considers, among other things, condition, rarity, quality and provenance (history of ownership, to the extent known). Estimates are determined before the sale and are therefore subject to revision. Buyers should not rely upon estimates as a prediction of actual selling prices. Estimates do not include Buyer's Premium or sales tax.

Buyers Premium

Unless otherwise noted, a 25% Buyer's Premium (exclusive of sales tax) will be added to the successful bid price of each lot purchased and is payable by Buyer, together with all applicable sales tax, as stated in the Conditions of Sale.

Reserves

Unless otherwise indicated, all lots are sold subject to a reserve. A reserve is the confidential minimum price established between Zachys and the Consignor. The reserve will not exceed the low estimate for the lot and is subject to change.

Examination of Wines

Zachys endeavors to select quality wines for auction and uses leading reputable expert(s) to assist Zachys in examining wines for auction. However, to the fullest extent permissible by law, Zachys and any Consignor disclaim any liability arising out of any description or error or omission in any description or any decision by the Buyer to rely on Zachys or any Consignor. Prospective Buyers are urged and advised to scrutinize any lots prior to the auction via photo request or in person at our temperature-controlled warehouse. Please contact Zachys at auction@zachys.com to request specific lot images or to set up an appointment.

Bidder Registration

No person shall bid or buy in any auction who has not agreed (either in writing or electronically) to be bound by the Conditions of Sale and this Buying & Bidding Information. If a prospective Buyer has not previously bid with Zachys, a government issued photo identification (such as National Identity Card or Passport) may be required prior to registration for any sale.

If a business organization registers to bid in an auction, a Business Registration or a Certificate of Incorporation and/or proof of director may be required in order to obtain a paddle. Zachys requires a valid credit card for new registrants.

Prospective Buyers may be asked to supply a bank reference to register for the auction. To avoid delay in the ability to bid, please prearrange check or credit approval by emailing a request to our finance team at ap@zachys.com

All bidders who wish to attend the auction are asked to preregister for a paddle. A Bidder Pre Registration Form is provided in the catalog or at zachys.com. Complete and email the form to auction@zachys.com at least two business days prior to the auction. Bidders should arrive at least 30 minutes before the scheduled sale of the lot on which they plan to bid to retrieve a paddle.

Bidding

Lots are auctioned in consecutive numerical order, as they appear in the catalog. The auctioneer will accept bids from (i) those present in the saleroom, (ii) absentee bidders participating by telephone, online, or by written bids provided to Zachys prior to the first session of the auction, or (iii) live over the internet. The auctioneer may also execute bids on behalf of the Consignor's reserve; however, under no circumstances will the auctioneer place any bid on behalf of the Consignor at or above the reserve. The auctioneer will not identify bids placed on behalf of the Consignor. Prospective Buyers who have registered to bid by more than one method (for example, both as an in-saleroom and absentee bidder) must monitor all their bidding activities (including in-saleroom bids, absentee bids, and online bids) to prevent bidding against themselves. All bids are final.

Bidding by Zachys

Zachys reserves the right to bid on any lot on its own behalf, subject to the same terms and conditions applicable to all other Bidders.

Online, Absentee, & Telephone Bids for Live Auctions

Please note: Zachys offers the following services as a convenience to clients. Zachys is not responsible for any error in connection with or failure to execute absentee, telephone or online bids.

Online Bids

Live auctions will open for bidding on our website at https://auction.zachys.com 2-4 weeks before the scheduled live auction date. Bids may be submitted online during this period.

For live auctions, a maximum bid may be entered online. You must confirm the bid to submit it. To simplify the bidding process, Zachys uses predetermined bidding increments. If a maximum bid is entered that does not match a bidding increment, a message will be displayed to provide the increments that are closest to the bid entered. If a maximum bid is submitted, bids will be placed on your behalf only as much as is required to ensure you remain the highest bidder (up to your maximum bid). In cases when two equivalent maximum bids are submitted, the earlier one will hold.

All bids submitted online are immediately executed. You cannot cancel a bid once it has been submitted.

Prospective Buyers may also bid during the live auction on our website at https://auction.zachys.com.

By registering and bidding on the internet, prospective Buyers agree to be bound by the Conditions of Sale. Zachys assumes no responsibility for disputes or errors arising from online bid activity. In the event of a dispute, the auctioneer's declaration of winning bid and paddle number shall be determinative. In the event of communication delays or failures, the auction will not be stopped. Live online bidders should consider providing Zachys with emergency absentee bids.

Absentee Bids

If you are unable to attend the auction in person and wish to place bids, you may give Zachys instructions in writing to bid on your behalf. Zachys' representatives will then try to purchase the lot or lots of your choice for the lowest price possible, taking into account the reserve price and other bids. This service is free and confidential. To place absentee bids, use the form provided herein or at https://auction.zachys.com. Be certain to accurately record the lot numbers and the highest hammer price you are willing to pay for the lot.

Please note: Your bid amount does not include Buyer's Premium or applicable sales tax. Buyer's Premium and applicable sales tax will be added to the hammer price of each lot.

Absentee bids must be submitted in consecutive numerical order, or they will not be executed. In addition, please use the bid increments included on the absentee bid form. If bids are submitted incorrectly, Zachys will round your bid up to the next increment. Please place bids as early as possible and at least 24 hours prior to the start of the first session of the auction. In the event of identical bids, the earliest bid received will take precedence. By registering and submitting absentee bids, prospective Buyers agree to be bound by the Conditions of Sale.

Telephone Bids

Prospective Buyers may bid by telephone during the live sale. Telephone bids are accepted only at Zachys' discretion and at the prospective Buyer's risk. At Zachys' discretion, telephone bids may be limited to lots with a value above 16,000 HKD or 2,000 USD and may be recorded. By submitting a telephone bid, prospective Buyers agree to be bound by the Conditions of Sale.

Bidding in Timed Auctions

Bids can be submitted anytime during the course of a timed auction on our website at https://auction.zachys.com. 

There are two ways to bid: (i) submit the starting/next bid or (ii) submit a maximum bid. You must confirm the bid to submit it. To simplify the bidding process, Zachys uses predetermined bidding increments. If a maximum bid is entered that does not match a bidding increment, a message will be displayed to provide the increments that are closest to the bid entered. If a maximum bid is submitted, bids will be placed on your behalf only as much as is required to ensure you remain the highest bidder (up to your maximum bid). In cases when two equivalent maximum bids are submitted, the earlier one will hold. 

All bids submitted online are immediately executed. You cannot cancel a bid once it has been submitted.

By registering and bidding on the internet, prospective Buyers agree to be bound by the Conditions of Sale. Zachys assumes no responsibility for disputes or errors arising from online bid activity.

Taxes

Buyers are responsible for the payment of any tax, tariff, duty or other fee which Zachys may be required by law to charge or remit to any authority in respect of or in connection with the sale. All bids placed by Buyers are deemed to be submitted exclusive of any sales tax which shall (if required) be payable by the Buyer at the appropriate rate. All such taxes shall be paid by Buyer at the time of delivery to Buyer at Zachys' licensed location.  

For New York Live Auctions (“New York Live Auctions”) and New York Internet Auctions (“New York Internet Auctions”).

• Title to and ownership of purchased Property passes to Buyer in the State of New York, where New York live auctions and New York Internet auctions are fulfilled and where all Property will be located at the time of the auction and when released to Buyer.
• For New York Live Auctions and New York Internet Auctions, Zachys is required to release purchased Property to Buyer in the State of New York, and, therefore, Zachys is required to charge and collect New York sales tax, which will be applied to Buyer’s purchase taxes, unless the goods are delivered to the Buyer in another jurisdiction under the authority of a permit issued by the recipient state and the collection of sales taxes by the state of the Buyer. Property may be picked up in person from the designated location in New York. If purchased Property is released by Zachys to a licensed freight forwarder hired by Buyer for immediate shipment to a point outside of the United States, New York sales tax will not be applied to Buyer’s purchase.

Delaware Live Auctions (“Delaware Live Auctions”) and Delaware Internet Auctions (“Delaware Internet Auctions”).

• Title to and ownership of purchased Property passes to Buyer in the State of Delaware, where Delaware live auctions and Delaware Internet auctions are fulfilled and where all Property will be located at the time of the auction and when released to Buyer.
• As of the date of these Conditions of Sale, the State of Delaware does not impose sales tax on tangible personal property sold within the State. Therefore, Zachys is not required to charge or collect sales tax on Property sold within the State of Delaware pursuant to these conditions of sale.

Title to purchased Property shall not pass, nor shall possession of such Property be transferred to Buyer until payment in full has been received by Zachys in good and cleared funds.

Buyers claiming exemption from sales, use or other tax must provide Zachys with documentation, which, in Zachys’ sole discretion and judgment, is satisfactory evidence of such exemption, prior to the release of property to the Buyer. Buyers claiming such exemption must be licensed dealers of alcoholic beverages and must submit resale certificates and a copy of their valid licenses to Zachys prior to registering for the sale.

All questions regarding tax and exemptions should be directed to Zachys Finance Department at ap@zachys.com.

Owned or Guaranteed Property

Zachys offers property consigned by others for sale at public auction. Occasionally, lots are offered which have during the sale process become the property of Zachys.

On rare occasions, Zachys may guarantee a minimum price to the Consignor. Guaranteed lots may also be sold subject to a reserve.

Successful Bid

The fall of the auctioneer's hammer indicates the final bid, at which time the Buyer assumes full responsibility for the lot. Successful bidders will be notified and invoiced within a few days of the sale. Successful Buyers will pay the price of the final bid plus the stated Buyer's Premium plus any applicable taxes for each lot purchased.

Payment

Payment for all invoices is due immediately upon receipt. 

Zachys will attempt to auto-charge the credit card on file for the full invoice amount within 48 hours of the sale close.

In respect of all other purchases, buyers are expected to pay for purchases or balances within 14 calendar days of purchase for live sales and 7 calendar days of purchase for internet sales. At the end of this 14 or 7 calendar-day period (as applicable), Zachys reserves the right to charge the Buyer's credit card on file for any amounts still due.

Zachys reserves the right to cancel the sale of invoices still unpaid on the 31st day after an auction.

For US auctions, payment is accepted in United States Dollars.

For Hong Kong auctions, payment is accepted in Hong Kong Dollars.

To request payment in another currency, contact Zachys at +1-866-922-4971. Zachys, in its sole discretion, shall determine the currency exchange rate.

Payment can be made by credit card or bank wire transfer. In the event of third-party payments, Zachys may require an Authorization Letter from both parties. 

Payment by Credit Card

All charges are subject to acceptance by Zachys and the applicable credit card company. Zachys will accept Visa, MasterCard, American Express, Discover and Union Pay. Payment can be made via phone by calling +1-866-922-4971.

Payments made by credit card will incur a 2% processing charge.

When making payment via UnionPay, the winning bidder must sign the auction invoice and acknowledge that possession of the wine has transferred from Zachys at the time of payment. The signature must be the same as the one signed on the payslip.

Payment by Wire Transfer

For US Auctions:

Zachys Wine Auctions Inc.

Bank: Hapoalim B.M. New York

BankUnited, N.A.

445 Broadhollow Road Suite 200

Melville, NY 11747

Account Name: Zachys Wine Auction LLC 

Account Number: 9856774251

SWIFT Code: BUFBUS3M

Routing Number: 267090594

When paying by wire transfer, please be sure to reference the invoice number in the details field.

Collection of Purchases

Buyers are expected to remove their property within 14 calendar days of the auction. Prospective Buyers' attention is drawn to the Conditions of Sale, including Condition 9.

Collection & Delivery

It is the Buyer's responsibility to pick up purchases or make shipping arrangements within 14 calendar days of the auction. Unless the Buyer is located in the state of New York, Zachys will not automatically arrange for the delivery of purchased products to buyer. For Buyers located outside of the state of New York, Zachys will deliver all alcoholic beverages purchased to an Independent Storage Facility located in NY, New York Fine Wine Storage for the account of the buyer (see Passage of Title and Storage).

After payment has been received, Zachys can assist in the arrangement of packing, transit insurance, and shipping at the Buyer's expense, direction and request.

Export/Import Permits

Alcoholic beverage products sold at auction may be subject to laws governing export from the jurisdiction where the auction was held and import restrictions of foreign countries. Buyers should always check whether an export license is required before exporting alcoholic beverage products. It is the Buyer's sole responsibility to obtain any relevant export or import license. A delay in obtaining licenses shall neither justify the rescission of any sale nor excuse delay in providing full payment for the lot. Local laws may prohibit the importation of some property and/or may prohibit the resale of some property in the country of importation; no such restriction shall justify the rescission of any sale or delay in making full payment for the lot.

Delivery Restrictions

Prospective Buyers are also reminded that various jurisdictions impose limitations on the quantity of alcoholic beverage products which may be purchased and brought into their jurisdiction by a purchaser from another jurisdiction, without requiring the purchaser, a consignor or shipper to possess certain licenses or permits. Zachys shall not as a condition of sale assume any obligation or bear any responsibility whatsoever for applying for or obtaining the requisite permits or licenses in the event the quantity purchased exceeds said limitations. Therefore, all prospective Buyers are strongly advised to investigate the possibility of such limitations and to determine the manner in which alcoholic beverages shall be brought into the jurisdiction so as to comply with all local requirements.

Shipment of Spirits

Prospective Buyers should be advised there are certain restrictions regarding the shipment of spirits. Many countries and states impose limitations on quantity, high duties, and/or taxes, and prospective Buyers should be aware of export and import restrictions.

Auction Results

To obtain results for the auction, please refer to https://auction.zachys.com.

Translation

The terms and conditions have originally been drafted in English. In the event that any translation of the terms and conditions is prepared, the provisions of the English version shall prevail.

Conditions of Sale

These Conditions of Sale are Zachys' and the Consignor's entire agreement with the Buyer with respect to the property listed in the auction catalog. The Conditions of Sale and all other contents of this catalog may be amended by posted notices or oral announcements made during the sale. The property will be offered by Zachys as agent for the Consignor, unless the catalog indicates otherwise. By participating in an auction, you agree to be bound by these terms and conditions.

1

The auction catalog endeavors to describe the property listed therein accurately. However, save as otherwise expressly set out in these Conditions of Sale, and to the fullest extent permissible by law, Zachys and the Consignor shall not be liable for any such description and expressly disclaim any representation or warranty regarding the origin, physical condition, merchantability, fitness for a particular purpose, correctness of catalog description, size, quality, condition, rarity, authenticity, attribution, value, importance, provenance, previous storage conditions or historical relevance of any property therein. Zachys further retains the absolute right to amend at any time and in any manner any description of any property contained in any catalog and shall take reasonable steps to inform Buyers of such change prior to the conclusion of any purchase. Classifications in the text are for identification purposes only and based on standard sources. Buyers must make appropriate allowances for natural variations in ullages, conditions of cases, labels, corks and wine. Each statement contained in any catalog and each other statement, whether oral or written, and whether made at an auction or in an advertisement, bill of sale, addendum, posting, notice, announcement or otherwise, is a statement of opinion only and (subject to the next sentence) shall not be relied upon by any Buyer or otherwise be deemed a warranty or representation.

Images appearing in the auction catalog or elsewhere are for illustrative purposes only and may not be relied upon to reveal imperfections in any products. Zachys and the Consignor make no representation or warranty, express or implied, as to whether the Buyer acquires any copyright or other reproduction rights in any property. To the fullest extent permissible by law, neither Zachys nor the Consignor shall be liable for errors or omissions in the catalog or any supplemental material. Prospective Buyers are urged and advised to inspect the property before the auction, including the cases, labels, corks and wines, and must satisfy themselves by inspection or other means as to all considerations pertinent to any decision to place any bid. EACH PRODUCT AND EACH LOT IS SOLD “AS IS,” AND, TO THE FULLEST EXTENT PERMISSIBLE BY LAW, BUYERS EXPRESSLY DISCLAIM ANY RELIANCE ON ZACHYS, THE CONSIGNOR, OR THE CATALOG. Under no circumstances will substitutes be provided by Zachys; including but not limited to in case of breakage or error in catalog description. No provision of the Buyer & Bidding Information or these Conditions of Sale shall limit or exclude Zachys' or the Consignor's liability for: (i) fraud; (ii) fraudulent misrepresentation; or (iii) death or personal injury arising from its negligence.

2

The purchase price payable by the Buyer (“Purchase Price”) will be the sum of the final bid price (the “Hammer Price”), the Buyer's Premium and the Protection Fee, when applicable, together with any applicable sales tax. Unless otherwise noted, the Buyer's Premium is 25% of the Hammer Price. The Protection Fee is 1% of the Hammer Price plus the Buyer's Premium.

3

Zachys reserves the right to withdraw any property or cancel any sale before or at the sale and shall have no liability whatsoever for such withdrawal or cancellation.

4

Zachys reserves the right to reject any bid. The highest bidder acknowledged by the auctioneer will be the Buyer. In the event of any dispute between bidders, or any other issue with respect to the bidder, the auctioneer will have absolute discretion to determine the successful bidder, to continue the bidding, to cancel the sale or to reoffer and resell the property in dispute.  If any dispute arises after the sale, Zachys' sale record is conclusive.

5

In its sole discretion, Zachys may accept and execute absentee bids (written bids submitted to Zachys prior to the sale), telephone bids and internet bids as a convenience to clients who are not present at auction.

6

Unless otherwise indicated, all lots in this catalog are offered subject to a reserve, which is the minimum price the Consignor is willing to accept. This amount is confidential and will not exceed the low presale estimate. Zachys shall act to protect the reserve by bidding through the auctioneer. The auctioneer may open bidding on any lot below the reserve by placing a bid on behalf of the Consignor. The auctioneer may continue to bid on behalf of the Consignor up to the amount of the reserve, either by placing successive bids or by placing bids in response to other bidders.

7

For all alcoholic beverages purchased from Zachy’s sold in the state of New York, title passes to the buyer in the state of New York in accordance with the Uniform Commercial Code. All sales are subject to NY sales taxes unless the goods are delivered to the buyer in another jurisdiction under the authority of a permit issued by the recipient state and the collection of sales taxes by the state of the purchaser.

For all alcoholic beverages purchased from Zachy’s and sold in the state of Delaware, title passes to the buyer in the state of Delaware in accordance with the Uniform Commercial Code. As of the time of this Conditions of Sale, the State of Delaware does not charge a sales tax on goods and sales are not subject to additional sales tax.

If the Purchaser is a resident of a state other than New York, and the auction was in NY, all alcoholic beverage purchases will be delivered to an Independent Storage Facility located in NY, New York Fine Wine Storage for the account of the buyer, who may arrange with the facility to pick up the inventory in person or arrange for delivery under the law of the purchaser’s state or the ultimate destination of the goods. All auction purchases from within the state of DE must be paid and collected from DE within 14 days from the close of auction.

8a

Title to the offered lot passes to the Buyer upon the fall of the auctioneer's hammer and the announcement by the auctioneer that the lot has been sold, subject to compliance by the Buyer with all other Conditions of Sale and the Buying & Bidding Information. Title passes to Buyer in the state in which the sale takes place.

8b

The Protection Fee is 1% of the hammer price plus the Buyer's Premium for all arranged deliveries of purchased property. In return for payment of the Protection Fee, purchased property will be protected against breakage, loss, theft or fire and other losses as covered by Zachys' insurance while in transit to the Buyer's declared point of destination. If Buyer elects to decline the protection afforded by the Protection Fee, Buyer thereupon assumes full risk and responsibility for the lot while in transit.

9

No property may be removed from Zachys' premises until Buyer has paid the Purchase Price in full plus all other fees and taxes (inclusive of any taxes due in the location of the auction on Buyers who are not residents of such location) and has satisfied such terms as Zachys, in its sole discretion, shall require. Zachys reserves the right to withhold all property until such time as all outstanding amounts are paid in full for purchases from any prior auction(s). Upon receipt of full payment, Zachys will issue a Release Order, which must be presented in order for Zachys to release purchases made at auction. Subject to the foregoing, all lots are to be paid for no later than 4:30 PM (local time at the place of the auction) on the fourteenth calendar day following the live sale, and on the seventh calendar day following the internet sale, and removed from Zachys' premises at Buyer's expense no later than 90 calendar days after the date of sale. If Buyer fails either to timely remove the purchased lots from Zachys' premises or make timely arrangements with New York Fine Wine Storage to store the purchased lots, Zachys may transfer such property to a public warehouse for the account, and at the risk and expense, of Buyer. If a lot has not been collected within 90 calendar days of the date of sale and Zachys does not transfer the uncollected property to a public warehouse, Buyer will be liable to Zachys for interest, storage fees, and handling charges.

10

Zachys is not responsible for acts or omissions by itself or others in packing or shipping, whether or not the carrier or packer is recommended by Zachys. Packing and handling of purchased lots are entirely at the risk of Buyer. Zachys may, at the request and direction of Buyer and for an administrative fee, make arrangements for the consolidated shipment by common carrier of the purchased lots, provided that Zachys is not liable in any way therefore.

11

If Buyer fails to comply with any of these Conditions of Sale, Buyer will be in default and Zachys may avail itself of all remedies available by law, including, without limitation, the right to (i) hold such defaulting Buyer liable for the Purchase Price including all fees, charges and expenses, (ii) cancel the sale of that lot and any other property sold to Buyer, (iii) resell the property without Reserve at public auction or privately on reasonable notice to the Buyer, (iv) pay the Consignor an amount equal to the net proceeds payable in respect of the amount bid by the defaulting Buyer and then resell the property to a third party without Reserve at public auction or privately on reasonable notice to such Buyer, and/or (v) take such other action as Zachys deems necessary or appropriate. If Zachys resells the property pursuant to clause (iii) or (iv) above, the defaulting Buyer shall be liable for the payment of any deficiency between the Purchase Price and the price obtained upon resale pursuant to clause (iii) and (iv) above and all costs and expenses, including, without limitation, warehousing, the expenses of both sales, reasonable attorneys' fees, commissions, incidental damages and all other charges due hereunder. In the event that such Buyer pays a portion of the Purchase Price for any or all lots purchased, Zachys shall apply the payment received to such lot or lots that Zachys, in its sole discretion, deems appropriate. Any Buyer who fails to comply with these Conditions of Sale will be deemed to have granted Zachys a security interest in, and Zachys may retain as collateral security for such Buyer's obligation to it, any property in Zachys' possession owned by such Buyer. Zachys shall have the benefit of all rights of a secured party under the Uniform Commercial Code or applicable law adopted in the jurisdiction where the auction is held.

12

Payment will not be deemed to have been made in full until Zachys has collected good funds. In the event Buyer fails to pay any or all of the Purchase Price for any lot within 30 calendar days of sale and Zachys nonetheless elects to pay the Consignor any portion of the sale proceeds, Buyer acknowledges that Zachys shall have all of the rights of the Consignor to pursue the Buyer for any amounts paid to the Consignor, whether at law, in equity, or under these Conditions of Sale, or to cancel the sale of any lot unpaid 31 calendar days after sale.

13

Notwithstanding any other terms of these Conditions of Sale, if within 3 calendar days of the date of delivery of the property or 90 days after the sale, Buyer notifies Zachys in writing of a claim that any lot is short, ullaged, or has suffered breakage, then Zachys in its sole discretion will decide any such claim as between the Consignor and Buyer and may rescind the sale and refund all or part of the Purchase Price received. This does not affect any other rights of the Buyer at law or under these Conditions of Sale.

Notwithstanding any other terms of these Conditions of Sale, if a Buyer purchases property that is alleged to be inauthentic and provides reasonable evidence of such inauthenticity, with Zachys approval, they may return to Zachys within 90 calendar days of the date of delivery, Zachys shall rescind the sale and refund the Purchase Price received.

The benefit of this Condition of Sale 13 is not assignable and shall be applicable only to the original Buyer of the lot and not to subsequent assigns, buyers, heirs, owners or others who have acquired or may acquire an interest therein.

At its discretion, Zachys will not always cut the bands on original packaging of younger wines. In such cases, Zachys will not accept returns for any issues the Buyer might discover after the band is cut.

14

Alcoholic beverage products sold at auction may be subject to laws governing export from the jurisdiction where the auction was held and import restrictions of foreign countries. Buyers should always check whether an export license is required before exporting alcoholic beverage products. It is the Buyer's sole responsibility to obtain any relevant export or import license. A delay in obtaining licenses shall neither justify the rescission of any sale nor excuse delay in providing full payment for the lot. Local laws may prohibit the importation of some property and/or may prohibit the resale of some property in the country of importation; no such restriction shall justify the rescission of any sale or delay in making full payment for the lot.

15

Prospective Buyers are also reminded that various jurisdictions impose limitations on the quantity of alcoholic beverage products which may be purchased and brought into their jurisdiction by a purchaser from another jurisdiction, without requiring the purchaser, a consignor or shipper to possess certain licenses or permits. Zachys and Consignor shall not as a condition of sale assume any obligation or bear any responsibility whatsoever for applying for or obtaining the requisite permits or licenses in the event the quantity purchased exceeds said limitations.

Therefore, all prospective Buyers are strongly advised to investigate the possibility of such limitations and to determine the manner in which alcoholic beverages shall be brought into the jurisdiction so as to comply with all local requirements.

16a

For auctions that are held in New York, the respective rights and obligations of the parties with respect to the Conditions of Sale and the conduct of the auction shall be governed by and interpreted in accordance with the laws of the State of New York. By participating in an auction, whether present in person or by agent, by absentee bid, telephone bid, internet bid or other means, Buyer shall be deemed to have consented to the exclusive jurisdiction of the State Courts of, and the Federal Courts sitting in, the State and County of New York. For such auctions, Buyer's sole and exclusive remedy against Zachys and/or the Consignor for any dispute or injury related to the auction or the property listed in the catalog shall be the rescission of the sale and the refund of the original Purchase Price paid for the lot. This remedy shall be in lieu of any other remedy which might otherwise be available to Buyer as a matter of law or at equity, and neither Zachys nor the Consignor shall be liable, in whole or in part, for any indirect, special, punitive, incidental, or consequential damages, including, without limitation, loss of profits.

16b

For auctions that are held in Delaware, the respective rights and obligations of the parties with respect to the Conditions of Sale and the conduct of the auction shall be governed by and interpreted in accordance with the laws of the State of Delaware. By participating in an auction, whether present in person or by agent, by absentee bid, telephone bid, internet bid or other means, Buyer shall be deemed to have consented to the exclusive jurisdiction of the State Courts of, and the Federal Courts sitting in, the State of Delaware. For such auctions, Buyer's sole and exclusive remedy against Zachys and/or the Consignor for any dispute or injury related to the auction or the property listed in the catalog shall be the rescission of the sale and the refund of the original Purchase Price paid for the lot. This remedy shall be in lieu of any other remedy which might otherwise be available to Buyer as a matter of law or at equity, and neither Zachys nor the Consignor shall be liable, in whole or in part, for any indirect, special, punitive, incidental, or consequential damages, including, without limitation, loss of profits.

16c

For auctions that are held in Hong Kong, the respective rights and obligations of the parties with respect to the Conditions of Sale and the conduct of the auction shall be governed by and interpreted in accordance with the laws of the Hong Kong Special Administrative Region. By participating in an auction, whether present in person or by agent, by absentee bid, telephone bid, internet bid or other means, Buyer shall be deemed to have consented to the exclusive jurisdiction of the Courts of Hong Kong Special Administrative Region. For such auctions, Buyer's sole and exclusive remedy against Zachys and/or the Consignor for any dispute or injury related to the auction or the property listed in the catalog shall be the rescission of the sale and the refund of the original Purchase Price paid for the lot. This remedy shall be in lieu of any other remedy which might otherwise be available to Buyer as a matter of law or at equity, and neither Zachys nor the Consignor shall be liable, in whole or in part, for any indirect, special, punitive, incidental, or consequential damages, including, without limitation, loss of profits.

17

All offers and sales of alcoholic beverage products by Zachys are subject to the local laws governing the sale of alcoholic beverage products in the jurisdiction in which the auction takes place.

18

New York State law and Delaware State law require that Buyers of alcoholic beverages must be at least 21 years of age. Hong Kong law requires that Buyers of alcoholic beverages must be at least 18 years of age. Buyers should observe and comply with the applicable laws relating to the purchase of alcoholic beverages in the jurisdiction where the auction is held. By participating in the auction, each Buyer represents and warrants to Zachys that he, she or it has the legal capacity to purchase, receive, and possess any lot purchased.

19

Zachys does not ship alcoholic beverage products. As an accommodation to Buyers, Zachys may arrange to have property packed, insured, and delivered at Buyer's expense and direction, but (other than as provided in Condition of Sale 8) Zachys shall have no liability or obligation for shipping alcoholic beverage products. Zachys makes no representation, and assumes no obligation, with respect to the legality of shipment of alcoholic beverage products into any jurisdiction. Zachys urges all Buyers to investigate and understand the alcoholic beverage products shipping laws and regulations of the jurisdiction to which they intend the alcoholic beverage products to be shipped prior to the purchase of alcoholic beverage products at auction.

20

By participating in the auction, Buyer agrees with Zachys and the Consignor that these Conditions of Sale, together with any instrument captioned (i) Buying & Bidding Information and (ii) General Catalog Notes published by Zachys and in effect from time to time and which are incorporated herein by reference as part of this Condition of Sale, shall become the legal, valid, and binding obligation of the Buyer, enforceable in accordance with their terms by Zachys and the Consignor (who is both a party hereto and, with respect to portions hereof between Buyer and Zachys, an intended third-party beneficiary).

21

In the event any one or more of the provisions, or any part or parts of a provision, of these Conditions of Sale and/or the Buying & Bidding Information is determined to be invalid or unenforceable in any respect, the validity and enforceability of all remaining provisions and parts of provisions shall not in any way be affected or impaired.

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If there is any inconsistency between the English and translated version of the General Catalog Notes, the Buying & Bidding Information, the Conditions of Sale or all other relevant documents, forms, website or emails, the English version shall prevail.

1. 23. Title and Risk of Loss. For New York residents, title and risk of loss to all goods shall pass to you upon our transfer of the products to the applicable carrier, or upon delivery to you if Zachys is acting as the carrier. For non-New York residents, title and risk of loss to all goods shall pass to you upon our delivery of the products to an Independent Storage Facility located in NY, New York Fine Wine Storage, upon your receipt of the products from the Zachys premises, or upon transfer to an applicable carrier or third party in accordance with any alternative shipping/storage methods you decide. Notwithstanding the foregoing, Zachys reserves the right, exercised in its sole discretion, to refund or replace goods damaged during shipment in accordance with Section II(b) of these Terms.

1. 24. Sales tax will be applied to all Orders as applicable. Seller makes no representation as to the legal rights of anyone to deliver or import any wines, alcoholic beverages or other goods into any state. For auction items sold in the state of New York, because title passes from Zachys to Buyer in the state of New York (see Passage of Title and Storage; Title and Risk of Loss), all sales are subject to New York sales taxes unless the goods are delivered to the Buyer in another jurisdiction under the authority of a permit issued by the recipient state and the collection of sales taxes by the state of the Buyer.

Collection, Delivery & Storage of Wines

Wines should be collected within 14 days after the auction at which they were purchased. After 14 days, all purchases will be automatically transferred to a storage account and incur storage fees.

For US Auctions 

Passage of Title

All alcoholic beverages purchased from Zachy’s in an auction in the state of New York, are sold in the state of New York, and title passes to the buyer in the state of New York in accordance with the Uniform Commercial Code. All sales are subject to NY sales taxes unless the goods are delivered to the buyer in another jurisdiction under the authority of a permit issued by the recipient state and the collection of sales taxes by the state of the purchaser. If the Purchaser is a resident of a state other than New York, all alcoholic beverage purchases will be delivered to an Independent Storage Facility located in NY, New York Fine Wine Storage for the account of the buyer, who may arrange with the facility to pick up the inventory in person or arrange for delivery under the law of the purchaser’s state or the ultimate destination of the goods.

All alcoholic beverages purchased from Zachy’s in an auction in the state of Delaware, are sold in the state of Delaware, and title passes to the buyer in the state of Delaware in accordance with the Uniform Commercial Code. All sales are subject to Delaware sales taxes. At the time of the latest updates to the Passage of Title, Delaware currently does not have a sales tax (0%), Zachys will not collect a sales tax unless the goods are delivered to the buyer in another jurisdiction under the authority of a permit issued by the recipient state and the collection of sales taxes by the state of the purchaser. After 14 days, all alcoholic beverage purchases will be delivered to an Independent Storage Facility located in NY, New York Fine Wine Storage for the account of the buyer, who may arrange with the facility to pick up the inventory in person or arrange for delivery under the law of the purchaser’s state or the ultimate destination of the goods.

Storage

Wine purchased at auction is stored at New York Fine Wine Storage (NYFWS) located in Port Chester, New York. The 55,000 square foot warehouse is equipped with a state-of-the-art alarm system that is monitored 24 hours a day, 7 days a week. A  refrigeration system provides an ideal temperature, and all wines are protected with a temperature alarm system, as well as a backup generator. Rates are competitive, and the merchandise will not have to be moved to another location.

For further information or directions, please call NYFWS at +1-866-922-4971.

Pickup

Wines can be picked up from Zachys Port Chester facility between the hours of 9 AM and 5 PM Monday through Friday, provided that payment for the lots has been received. Buyers can arrange to collect their wine by appointment by phoning Zachys at +1-866-922-4971. Please provide at least 72 hours notice before coming to collect your purchases. Any additional packaging and/or handling that is required or requested will be subject to processing fees.

Delivery

Purchases will not automatically be shipped. Once payment has been received, arrangements can be made to deliver the wines to the Buyer to the primary shipping address on the account. For further information or collection and delivery assistance, please call +1-866-922-4971or email auction@zachys.com.

Original wooden cases and original cartons, when available, will be shipped automatically, unless instructed otherwise. Please inquire for rates of shipping original packaging when making arrangements. 

Zachys can assist you in making arrangements to have the wine purchased at auction shipped. Unless explicitly declined, a 1% Shipping Protection Fee will apply to all shipments and pickups. This Shipping Protection Fee provides protection against only breakage, theft or fire as covered by Zachys insurance with respect to purchased property packed, shipped and delivered pursuant to arrangements made by Zachys. Zachys and its forwarding agents cannot be held responsible for any other changes to the wines during shipment. Loss or breakage resulting from shipping that Zachys has arranged must be reported to Zachys in writing within three days of delivery of the property, which must be examined in the presence of the carrier on arrival.

To ensure the safety of the wines, it may be necessary in some shipments to repack the wines in protective shipping containers and to ship the wooden cases separately at an additional charge.

Buyers are also reminded that various jurisdictions impose limitations on the quantity of alcoholic beverages which may be purchased and brought into their jurisdiction by a purchaser from another jurisdiction, without requiring the purchaser, a consignor or shipper to possess certain licenses or permits. Zachys makes no representation, and assumes no obligation, as to the legality of shipment of alcoholic beverages into any jurisdiction. Zachys urges all Buyers to investigate and understand the wine shipping laws and regulations of the jurisdiction to which they intend the wine to be shipped prior to the purchase of wines at auction. The protection afforded by the Shipping Protection Fee does not cover confiscation by any government or law enforcement agency as a result of alleged violations of applicable laws by Sellers or Buyers.

Zachys will take precautions to ensure the safety of wines against inclement weather conditions. This may include delaying shipments during times of extreme high or low temperatures.

Common shipping arrangements include Common Carrier, Consolidated Shipments and Dedicated Shipments. 

Dedicated Shipments

Domestic Private Carrier in Temperature-Controlled Truck

Quotes vary based upon quantity and destination. Please contact us at auction@zachys.com or +1-866-922-4971to obtain a quote.

International Dedicated

Zachys can assist with shipments to many international destinations. Quotes vary based upon quantity and destination. Please contact us at auction@zachys.com or +1-866-922-4971to obtain a quote.

For Hong Kong Auctions

Storage

Wine purchased at HK auctions is stored at JAS only if a customer or client has an account. All wine from the sale of an auction in Hong Kong must be paid and collected or contracted to store with JAS within 14 days from the auction close.

Pickup

Wines can be picked up from the location where Zachys Asia holds consigned wine warehouse between 9:30 AM and 5:00 PM Monday through Friday, provided that payment for the lots has been received. Buyers can arrange to collect their wine by appointment by phoning Zachys at +1-866-922-4971. Please provide at least 72 hours’ notice before coming to collect your purchases. Note that there is a gate fee charge when picking up from the warehouse

Please Note: For pickups, any additional packaging and/or handling that is required or requested will be subject to processing fees.

Delivery

Once payment has been received, arrangements can be made to deliver the wines to the Buyer. Purchases will not automatically be shipped. Please email the Collection & Delivery Form (found in this catalog) to auction@zachys.com. For further information on collection, delivery charges or assistance with your delivery within Hong Kong, please call +1-866-922-4971 or email auction@zachys.com. Zachys can assist you in making arrangements to have the wine purchased at auction shipped. Unless explicitly declined, a 1% Shipping Protection Fee will apply to all shipments and pickups. This Shipping Protection Fee provides protection against only breakage, theft or fire as covered by Zachys insurance with respect to purchased property packed, shipped, and delivered pursuant to arrangements made by Zachys. Zachys and its forwarding agents cannot be held responsible for any other changes to the wines during shipment. Loss or breakage resulting from shipping that Zachys has arranged must be reported to Zachys in writing within three days of delivery of the property, which must be examined in the presence of the carrier on arrival. To ensure the safety of the wines, it may be necessary in some shipments to repack the wines in protective shipping containers and to ship the wooden cases separately at an additional charge. Buyers are also reminded that various jurisdictions impose limitations on the quantity of alcoholic beverages which may be purchased and brought into their jurisdiction by a purchaser from another jurisdiction, without requiring the purchaser, a consignor or shipper to possess certain licenses or permits. Zachys makes no representation, and assumes no obligation, as to the legality of shipment of alcoholic beverages into any jurisdiction. Zachys urges all Buyers to investigate and understand the wine shipping laws and regulations of the jurisdiction to which they intend the wine to be shipped prior to the purchase of wines at auction. The protection afforded by the Shipping Protection Fee does not cover confiscation by any government or law enforcement agency as a result of alleged violations of applicable laws by Sellers or Buyers.

Delivery Charges

Please email auction@zachys.com or give us a call at +1-866-922-4971 for local and overseas delivery costs.

Consolidated Shipments

Zachys offers consolidated sea shipments between Port Chester and Hong Kong several times a year. Subsidized consolidated air shipping is also available along those routes at a rate of HK$115 per 0.75L. Currency is determined by the origin of the shipment.

Dedicated Delivery

Zachys can assist with shipments to many international destinations. Quotes vary based upon quantity and destination. Please contact us at auction@zachys.com or +1.866-922-4971 to obtain a quote.

Special Notices:

 
Delivery charges will include any applicable tax, duty, tariffs, or other fees as required by laws. Buyers are responsible for import tariffs at the destination country.

Export/Import Permits

Alcoholic beverage products sold at auction may be subject to laws governing export from the jurisdiction where the auction was held and import restrictions of foreign countries. Buyers should always check whether an export license is required before exporting alcoholic beverage products. It is the Buyer's sole responsibility to obtain any relevant export or import license. A delay in obtaining licenses shall neither justify the rescission of any sale nor excuse delay in providing full payment for the lot. Local laws may prohibit the importation of some property and/or may prohibit the resale of some property in the country of importation; no such restriction shall justify the rescission of any sale or delay in making full payment for the lot.

Currency of fulfillment and applicable fees are determined by the origin of the shipment. 

Zachys is not responsible for any acts or omissions of any shipper with whom Buyer, not Zachys, has made arrangements to pack, ship or deliver purchased lots, including, without limitation, any packing, shipping or delivery of purchased lots. 

Adult signature is required for all shipments.

Please contact our Customer Service Department at +1-866-922-4971 or at customerservice@zachys.com with inquiries or for more information.