1. Principal: refers to the natural person, legal person or other organization that entrusts our company to auction the auction subject matter for which it enjoys complete ownership or complete disposal right through a contract (agreement).

2. Bidder: refers to the natural person, legal person or other organization that has the right to bid.

3. Buyer: refers to the bidder who points out the highest price and buys the auction target.

4. auction target: refers to the goods that the client entrusts our company to sell or transfer by auction.

5. Accrued expenses: refers to the expenses charged by our company to the clients and buyers for insurance, website production, packaging, transportation and evaluation.

6. auction reserve price: refers to the lowest selling price agreed by our company and the client on the auction target entrusted by us and marked on the power of attorney.

7. Commission: refers to the service fees charged by our company to the client and the buyer after the transaction according to relevant laws.

chapter I general provisions

article 1 these rules are formulated in accordance with the auction law of the people's Republic of China and other relevant laws and regulations, and with reference to international practices.

article 2 these rules are applicable to the auctioneers, clients, bidders and buyers who participate in the auction activities of our company. The parties participating in the auction activities of our company must carefully read and abide by these rules, be responsible for all their actions in the auction activities and bear the legal consequences. In case of any dispute or loss caused by the client, bidder and buyer's failure to read these rules carefully, all the responsibilities shall be borne by the client, bidder and buyer.

article 3 the provisions of these rules constitute the corresponding clauses in the contract concluded by the company as an auctioneer with the client and the buyer.

explanation of terms in article 4

in the terms of these rules, the following words have the following meanings:

(1) "auctioneer" means Beijing rongbao auction co., ltd. (hereinafter referred to as the company).

(2) "Bidder" refers to the natural person, legal person or other organization that has signed the bidding book and gone through the necessary formalities (paying the deposit, obtaining the bidding brand, etc.) in our company, and has full capacity for civil conduct according to the laws of China. Where laws and regulations stipulate the conditions for buying and selling auction items or the qualifications of bidders, the bidders shall meet the prescribed conditions or qualifications.

(3) "buyer" (buyer) refers to the bidder who bought an auction target with the highest bid in the auction activities organized by our company.

(4) "Principal" (seller) refers to the natural person, legal person or other organization that provides the auction target and has signed an auction contract with our company.

(5) "auction target" (auction item) refers to the items entrusted by the principal (seller) to the company for auction.

(6) "reserve price" (reserve price) refers to the lowest selling price of the auction target proposed by the client and determined in writing in the entrustment contract after consultation with the company.

(7) "reference price" (estimate) refers to the estimated selling price of the auction items indicated in the catalogue of the auction items or other introductory texts. The valuation is determined before the auction date, not the fixed selling price, and is for bidders' reference only.

(8) "Transaction price" (hammer price) refers to the price at which the auctioneer decides to sell the auction item to the buyer at the auction site.

(9) "Proceeds from sale" refers to the net amount paid to the principal, which is the balance after the hammer price is deducted from the commission and other amounts payable by the principal to the Company.

(11) purchase price: refers to all the money that the buyer should pay to the auctioneer for bidding for the auction items. Including the hammer price, all commissions, other expenses that should be paid by the buyer and all expenses that should be paid because the buyer fails to perform its obligations.

(12) commission: refers to the remuneration paid by the buyer and the client to the company at the rate of 11% of the transaction price after the auction target is closed; If the auction target is not sold, the client will pay the company the commission of 3% of the reserved price.

(13) deposit: refers to the fees that should be paid by the buyer when he receives the bid number plate, which is used to restrain the buyer's bid behavior. After the buyer actually bought it successfully, the deposit will be automatically converted into part of the deposit, which will not be refunded before the purchase price is settled.

(14) down payment: it means that after the successful purchase, if it is difficult for the buyer to pay the purchase price on the spot, he should first pay the trading deposit of 31% of the transaction price to the company, which will not be refunded before the purchase price is settled.

(15) "bid unexpectedly" (bid unexpectedly for number plate): refers to the number plate that represents the identity of the buyer after signing the bidding contract with our company. The bid number plate is a symbol representing the identity of the bid buyer and its bid price, and the number of the bid number plate in each auction is unique.

(16) "auction date" refers to the date announced by this company to officially start auction transactions in an auction activity. If the announced date is inconsistent with the actual date, the actual start date shall prevail.

(17) Auctioneer: refers to the host hired by our company with the qualification certificate of national registered auctioneer, who has decided the transaction price to the buyer in the auction. The auctioneer has the right to raise or lower the bidding ladder on behalf of our company, reject any bidding, and auction the auction items again in case of disputes.

Article 5 specifically states: Our company does not undertake any guarantee responsibility for the authenticity and quality of all auction items and the defects existing in the auction items.

Chapter II Provisions on Clients (Sellers)

Entrustment Procedures

Article 6 When entrusting our company to auction its articles, if it is a natural person, it must hold a valid ID card or passport and sign an auction contract with our company; If it is a legal person or other organization, it shall sign an auction contract with the company with valid registration documents, identity certificate of legal representative or legal authorization certificate. Once the client signs the entrustment auction contract with the company, he agrees to accept and abide by the terms of these auction rules.

article 7 when the client entrusts the company to auction its articles, the auction target must be delivered to the company for safekeeping at the same time, and it shall not be taken away without the consent of the company. After the auction of the auction target is completed, the client may not withdraw or cancel the entrustment without the consent of the company.

article 8 all auction targets have reserve prices, which are expressed in RMB. The reserve price is determined by the company and the client in the entrusted auction contract through consultation. Once the reserve price is determined by both parties, both parties shall not change it without authorization, and shall be obliged to keep the reserve price confidential and shall not disclose it. If it is necessary to change the reserved price, the other party shall obtain the consent in advance. If the auction target entrusted is lower than the reserve price, the client only has the right to calculate the hammer price according to the reserve price, but it does not exempt the client from the obligation to pay the commission and various fees according to the regulations.

article 9 when the client entrusts the company to auction its articles, it automatically authorizes the company to make photos, catalogues, pictures and other forms of video products or make public publicity and publication of the articles. If the auction target needs to be decorated, mounted or framed, the client and the company shall negotiate separately, and the expenses incurred therefrom shall be borne separately according to the proportion and method agreed in the entrusted auction contract.

guarantee and compensation

article 11 the trustor shall ensure that the source of the auction target entrusted by him is legal, has complete ownership and disposal rights, can resist any claim of any third party, and ensure that the auction target is free from any creditor's rights, debt disputes and guarantees. At the same time, the client shall also state the defects of the subject matter that he knows or should know.

article 11 if the trustor violates the guarantee in the previous article, and the actual owner of the auction item or any third party claiming the right claims the auction object, the responsibility shall be borne by the trustor; If losses are caused to the Company or the Buyer, the Principal shall be responsible for compensating all losses suffered by the Company or the Buyer, and bear all expenses and expenses incurred therefrom.

Article 12 A client may not bid for the auction items entrusted by him or hire others to bid on his behalf. Otherwise, you will bear all the consequences caused by this.

Insurance

Article 13 Unless otherwise instructed in writing by the client, the auction item will be automatically insured by the company from the moment when the client signs an auction contract with the company and delivers it to the company, and the insurance amount is limited to the reserved price stipulated in the auction contract. If the auction items are damaged or lost directly due to the company's responsibility during the storage period of the company and within the effective insurance period, the company will compensate the losses according to the specific circumstances of the losses, but the maximum compensation amount shall not exceed the reserve price agreed by both parties. The compensation is drawn from the insurance premium collected.

Article 14 After an auction is completed, the client shall pay an insurance premium equivalent to 1% of the transaction price; If the auction fails, the client shall pay an insurance premium equivalent to 1% of the reserve price; Unless otherwise agreed between the Client and the Company.

Article 15 The insurance period starts from the date when the company receives the auction item, and if the auction object is sold, the insurance period ends on the date when the buyer picks up the auction item, but the longest period shall not exceed 61 days from the auction date; If the auction item is withdrawn, terminated or not sold, the insurance period shall be until the date when the client takes back the auction item, but the longest period shall not exceed 61 days from the auction date; If the auction item is not sold due to the buyer's default in payment, the insurance period will be extended to 61 days from the date when the buyer receives the written notice from the company to retrieve the auction item. If the above insurance period is exceeded, resulting in the loss or damage of the auction items, the company will not bear any liability for compensation.

article 16 if the client informs the company in writing that it is not necessary to insure its auction, all risks, including all damages and losses during the storage period of the company, shall be borne by the client.

Article 17 During the storage period of the auction items in our company, our company will not be liable for the damage or loss of the auction items caused by inherent factors such as natural wear and tear, defects and potential defects, or natural factors such as oxidation, climate change, temperature change, humidity change, earthquake and tsunami, or irresistible human factors such as war, hostile acts, nuclear explosion, terrorist activities and sabotage activities; The company will not be liable for the damage to the accessories (such as decoration, mounting, frame, packaging, glass, shaft head, etc.) of the auction for any reason.

Withdrawal of the auction item

Article 18 If the consignor requests to withdraw the auction item at any time before the auction date, he shall send a written notice to our company explaining the reasons, and with the consent of our company, he may terminate the auction contract and withdraw the auction item entrusted by him, but he shall pay the following fees:

(1) If the auction catalogue or other publications are not delivered for printing, he shall pay the company a penalty of 11% of the reserved price.

(2) If the auction catalogue or other publications have been delivered for printing, the Company shall be paid a penalty of 21% of the reserved price.

Article 19 On the day when the auction begins, the trustor shall not withdraw the purchased products entrusted by him.

Article 21 If the auction item has been decided, the client shall not withdraw the auction item entrusted by him within 61 days from the date of auction; If the buyer still fails to pay after 61 days from the auction date, the transaction of the auction item shall be regarded as unsuccessful, and the client shall withdraw the auction item entrusted by him. The company will treat it as unsuccessful and only charge the unsuccessful commission and catalogue fee.

the company's decision-making power

Article 21 The company has the complete decision-making power on the following matters:

(1) Whether an auction item is suitable for sale by the company, as well as the place, date, conditions and methods of sale.

(2) Explain or comment on any auction item through auction catalogue, news media or other carriers.

(3) whether any experts should be consulted.

(4) The sequence, layout size and charging standard of the auction items in the catalogue; The exhibition mode of auction items at the preview site; Charges for various expenses related to the auction items.

(5) if the buyer fails to pay the full amount within 61 days from the auction date, the company has the right to cancel the transaction of the lot and treat it as unsuccessful.

cancellation of auction

article 22 in any of the following circumstances, the company has the right to cancel the auction of any auction item at any time before the auction without taking any responsibility:

(1) the company has any objection to the ownership or authenticity of the auction item.

(2) The third party disagrees with the ownership or authenticity of the auction item and can provide relevant and valid evidence materials, and is willing to bear corresponding responsibilities for the legal consequences and all losses caused by the termination of the auction activity and pay the guarantee money according to the regulations of the Company.

(3) Objection to the explanation made by the client or the accuracy guaranteed by the client.

(4) there is evidence that the client has violated or will violate any clause of these rules.

(5) There are any other reasonable reasons.

transaction processing

article 23 after the auction is completed, if the buyer fails to pay all the purchase price to the company, the company will not undertake the obligation to pay or advance the sales proceeds to the client. If the buyer has paid all the purchase price of the auction target to the company, the company shall pay the sale proceeds to the client in RMB within 31 days after receiving all the purchase price. If the buyer pays foreign currency to the company, the company will still pay the proceeds to the client in RMB.

article 24 after the auction is completed, unless otherwise agreed between the client and the company, the client authorizes the company to deduct the commission at 11% of the transaction price (hammer price) and other stipulated fees at the same time; Although the company is an auctioneer entrusted by the client, the client shall not interfere with the company's commission collection from the buyer.

article 25 if the company has paid the money equivalent to the sale proceeds to the client before the buyer pays off all the purchase price to the company, the ownership of the auction item belongs to the company. If the transaction is cancelled because the buyer fails to pay the purchase price to the company, the company has the right to recover the paid purchase price from the client.

article 26 if the sales proceeds obtained by the principal should be taxed by the government, the principal shall handle it himself and bear the corresponding taxes.

Deal with Unfinished Transactions

Article 27 If the auction item fails to be auctioned or the auctioneer cancels the auction (cancels the auction), the trustor shall take back the auction item within 15 days from the auction date based on the entrustment contract (the freight shall be borne by himself) and terminate the entrustment contract. The auctioneer does not charge any fees, and at the same time does not assume any responsibility.

article 28 if the auction item fails to be sold after being auctioned, the trustor shall take back the auction item within 15 days from the auction date on the basis of the entrustment contract (the freight shall be taken care of by himself), and pay the unpaid commission, catalogue fee and other prescribed fees to the company at 3% of the reserved price.

article 29 if the auction item has been decided, but the buyer clearly indicates that he will not pay the purchase price or fails to pay all the purchase price to the company more than 61 days after the auction date, which constitutes a breach of contract, the company has the right to decide to cancel the transaction, treat it as unsuccessful, and notify the client in writing. Within 1.5 days from the date of receiving the written notice, the client shall take back the auction item (the freight shall be borne by himself) and terminate the entrustment contract. The auctioneer does not charge any fees, and at the same time does not assume any responsibility. However, the trustor shall not interfere with the auctioneer's right to hold the buyer liable for breach of contract.

Article 31 The trustor exceeds the provisions of Articles 28 and 29 above.