ANTIQUES & FINE ART NOVEMBER 28, 2026

Auction Terms

These Terms and Conditions (hereinafter referred to as the "Terms")establish the procedures and conditions governing the operation of the ANTIQONOpen Auction (hereinafter referred to as the "Auction"),including the organization and conduct of public sales in the form of anAuction, as well as the participation of individuals and legal entities in suchsales and the acquisition of Lots.

These Terms shall enter into force and become binding upon any personparticipating in the Auction upon registration as a Bidder.

Registration and/or participation in the Auction constitutesthe Bidder’s full and unconditional acceptance of these Terms,confirmation that they have read and understood their contents, andacknowledgment of their legally binding effect.

SECTION 1 - DEFINITIONS AND INTERPRETATION

1.1. Auction -an open (public) auction conducted under the "ANTIQON" brand,constituting a public sale of movable property - including works of art,antiques, and collectible objects - held in the auction hall at Brīvības iela52-1B, Riga, and/or online via the official Website www.antiqon.com, and/or via authorised partner onlineAuction platforms.

1.2. Company - SIAAntiqon, registration number 40103941382, registered office: Brīvības iela52-1B, Riga, LV-1011, Latvia, engaged in the organization and conduct of publicAuctions and acting as an intermediary (commission agent) or agent on behalf ofthe Seller.

The Company may, in certain cases, sell Lots owned by it.

1.3. Website -the combination of software, technical infrastructure, and content operated bythe Company for publishing information about Lots and conducting Auctions overthe Internet at www.antiqon.com, and providing Users with access to servicesincluding registration, a Personal Account, and participation in onlineAuctions.

1.4. Auction Sale (Bidding Process) - the competitive process of submitting priceoffers for Lots within the Auction, conducted within a defined time frame,whereby Bidders place Bids and a Lot is sold to the Bidder offering the highestprice (the Hammer Price).

1.5. Lot -a work of art, antique, or other movable property accepted for public sale atthe Auction, not withdrawn from civil circulation and not restricted in tradeunder the laws of the Republic of Latvia.

1.6. Seller -a natural or legal person who is the lawful owner of the Lot and has enteredinto an agreement with the Company for its inclusion in the Auction. The Sellermay monitor the progress and outcome of the Auction through their PersonalAccount or by written request to the Company.

1.7. Bidder (Participant) - a person registered and approved by the Company to take part inthe Auction, acting either on their own behalf or on behalf of a legal entity,who has completed registration and verification on www.antiqon.com or via official partnerplatforms.

1.8. Website User (User) - a legally competent individual using the Website to view Lots,obtain information, and/or participate in Auctions, having agreed to the UserAgreement and these Terms.

1.9. Buyer - the Bidder whose Bid isrecognised by the Company as the highest and confirmed as the Hammer Price.

1.10. Estimate -the indicative valuation of a Lot determined by the Company and published inthe catalogue or on the Website for information purposes only.

1.11. Bid -an offer made by a Bidder to purchase a Lot at a specified price in eurosduring the Auction.

1.12. Starting Price - the price at which bidding for a particular Lot commences.

1.13. Reserve Price - the minimum price acceptable to the Seller at which the Lot maybe sold. The Reserve Price is confidential and will not be disclosed to Biddersuntil reached during the Auction.

1.14. Current Bid - the most recent valid Bid placed by a Bidder at the relevanttime.

1.15. Minimum Increment - the minimum permissible increase between two consecutiveBids.

Bidding increments are as follows:

From €1 to €99 - increment €5

From €100 to €199 - increment €10

From €200 to €299 - increment €20

From €300 to €399 - increment €30

From €400 to €499 - increment €40

From €500 to €999 - increment €50

From €1,000 to €1,999 - increment €100

From €2,000 to €2,999 - increment €200

From €3,000 to €3,999 - increment €300

From €4,000 to €4,999 - increment €400

From €5,000 to €9,999 - increment €500

From €10,000 to €19,999 - increment €1,000

From €20,000 to €29,999 - increment €2,000

From €30,000 to €39,999 - increment €3,000

From €40,000 to €49,999 - increment €4,000

From €50,000 to €99,999 - increment €5,000

From €100,000 to €199,999 - increment €10,000

From €200,000 to €299,999 - increment €20,000

From €300,000 to €399,999 - increment €30,000

From €400,000 to €499,999 - increment €40,000

From €500,000 to €999,999 - increment €50,000

From €1,000,000 - increment €100,000

The Company reserves the right to change the minimum increment at itssole discretion for specific Lots or Auctions.

1.16. Maximum Bid (Auto-Bid) - the highest amount a Bidder is willing to pay fora Lot. The system automatically increases the Bidder’s offer within that limituntil the maximum amount is reached.

1.17. Absentee Bid - an instruction submitted by the Bidder through the Personal Account onthe Website or sent to the Company in the prescribed form, on the basis ofwhich a Bid is placed automatically by the system or by the Company on behalfof the Bidder up to the maximum amount specified by the Bidder.

1.18. Hammer Price - the highest Bid recognised by the Company at the close of the Auctionand confirmed by the auctioneer. The Hammer Price is displayed on the Lot pageon the Website www.antiqon.com.

1.19. Buyer’s Premium (Commission) – thefee payable to the Company for organising and conducting the Auction, fixed at 28%(twenty-eight percent) of the Hammer Price, payable by the Buyer inaddition to the Hammer Price.

The commission is calculated on the final Hammer Price ofthe Lot, regardless of the Buyer’s method of participation in the Auction,unless otherwise expressly provided in the published terms of the relevantAuction.

1.20. Personal Account - a dedicated section of the Website that provides the Bidder withaccess to information regarding their Bids, purchased Lots, payments, anddeliveries.

SECTION 2 - GENERAL PROVISIONS

2.1. These Termsgovern the organisation and conduct of Auctions held under the "ANTIQON"brand, including Auctions conducted in the auction hall, by telephone, byabsentee bid, and online through the official Website www.antiqon.comand/or through partner online Auction platforms with which the Companycooperates (including, without limitation, Drouot, BidSpirit, LiveAuctioneers,The Saleroom and similar services).

2.2. Byusing the Website or any partner platform, registering asa Bidder, placing a Bid, or otherwise participating inthe Auction, the User confirms that they haveread, understood, and fully accepted these Terms withoutreservation, including the procedures governing participation, payment,transfer, and collection of Lots, as well as all related rights andobligations.

2.3. Registration,participation in the Auction, or use of any services provided by the Companyor its partners constitutes the User′s voluntary and informed acceptanceof the legal validity of these Terms and a waiver of any claim ofignorance, non-reading, or disagreement at a later date.

2.4. Allcurrent and future services of the Website and partnerplatforms, including the online Auction system, Personal Account,payment, delivery, and other auxiliary functions are governed by these Terms.

The Company reserves the right to amend or supplementthese Terms without prior notice to Users,provided that such amendments do not affect transactions that have already beenconcluded.

2.5. Whenparticipating in the Auction via third-party Auction platforms(including, but not limited to, Drouot, BidSpirit, LiveAuctioneers, TheSaleroom, etc.), responsibility for the technical operation, availability,accuracy of bids, and functionality of the platforms lies with the respectiveoperators.
The Company shall not be held liable for any technicalfailures, delays, errors, incorrect bid placements, or data losses arising fromthe actions or omissions of third parties.

2.6. Informationpublished on the Website and partner platforms may be providedin multiple languages.
In the event of any discrepancy or inconsistency between language versions, theLatvian version of these Terms published on the official Website ofthe Company shall prevail.

2.7. Users whoviolate these Terms may be suspended, blocked, or permanentlyexcluded from participation in the Auction without anycompensation for losses, costs, or damages.
The Company further reserves the right to annul the results ofany Auction if a violation is discovered after its completion.

2.8. Legallysignificant communications may be sent by email and/or via the User′s PersonalAccount; any such communication shall be deemed delivered on the next BusinessDay following dispatch.

SECTION 3 - REGISTRATION OF BIDDERS

3.1. Registrationas a Bidder constitutes full and unconditional acceptance ofthese Terms, confirmation of having read and understood them, andacknowledgment of all rights and obligations arising from participation inthe ANTIQON Auctions.
Registration serves as legal confirmation that the Bidder hasfamiliarised themselves with the conditions of participation and agrees tocomply with them in full.

3.2. Registrationof Bidders may be carried out in the following ways:
– personally, in the auction hall, by completing a registration form andpresenting a valid identity document;
– by submitting a written registration form to the Company inadvance;
– online, via the official Website www.antiqon.com or authorised partner Auctionplatforms, following completion of the registration procedure and mandatoryidentity verification.

3.3. Tocomplete registration, the Bidder must provide accurate andup-to-date information, including full name, e-mail address, residentialaddress, contact telephone number, a copy of an identity document, and adocument confirming proof of residence (for example, a utility bill).
The Company reserves the right to request additional documentsto verify the Bidder’s identity, residency status, or sourceof funds in accordance with the laws of the Republic of Latvia.

3.4. Followingregistration on the Website, the Bidder may be assigned an initial biddinglimit determined by the Company depending on the Bidder’s status, Auctionparticipation history, results of previous transactions, level of verification,and other circumstances relevant to the assessment of the Bidder’s solvency andgood faith.

3.4.1. Inorder to participate in each specific Auction, the Bidder must complete aseparate registration for that Auction and confirm acceptance of the terms ofthat Auction and these Terms.

3.4.2. TheCompany may establish bidding limits for Bidders. The amount of such limitshall be determined by the Company at its discretion and may depend, interalia, on the Bidder’s status, prior Auction participation history, volume ofpreviously fulfilled obligations, results of internal checks, and the need to providea guarantee deposit.

3.4.3. At theBidder’s request, the established limit may be increased upon agreement withthe Auction administrator. The Company may require the prior payment of aguarantee deposit, including in an amount of up to 10% of the requested limitor in another amount determined by the Company depending on the specificAuction, the value of the Lots, and the results of the Bidder’s verification.

3.5. Registrationusing another person’s details, as well as the transfer of registrationnumbers, login credentials, or passwords to any third party, is strictlyprohibited.
The Bidder bears full responsibility for all actions takenunder their account, whether carried out personally or by any third party.

3.6. Each User isentitled to register only one account.
The creation of multiple accounts by the same person, the use of false,fictitious, or misleading information, or registration under another person’sidentity constitutes a breach of these Terms and may result inimmediate suspension or permanent blocking without prior notice.

3.7. The Bidder isresponsible for maintaining the confidentiality and security of theirregistration details (login, password, and access code).
The Company shall not be held liable for any loss or damageresulting from unauthorised use of the account by third parties, unlessthe Bidder has promptly notified the Company ofa security breach.

3.8. The Bidder mustpromptly inform the Company of any changes to theirregistration data, including contact details and residential address.
All notifications shall be made via email or other official communicationchannels indicated at the time of registration.

3.9. The Company mayat any time request additional documentation from the Bidder toverify identity, residence, source of funds, and the lawfulness ofparticipation in the Auction, in accordance with the laws of theRepublic of Latvia and applicable anti-money-laundering and know-your-customer(AML/KYC) regulations.

3.10. The Company reservesthe right to refuse, suspend, cancel, or restrict registration or participationof any Bidder at its sole discretion, without obligation toprovide reasons, where there are reasonable doubts as to the authenticity ofthe information provided, the lawful origin of funds, the Bidder’s intentions,or in cases of breach of sanctions or AML legislation.

SECTION 4 - WARRANTIES AND REPRESENTATIONS OF BIDDERS

4.1. Byregistering, placing a Bid, paying an invoice and/or a Lot,the Bidder (the Buyer) represents and warrantsthat all information and documents provided to the Company areaccurate, complete, and up to date, and do not contain any false or misleadingstatements.
Such representations remain valid from the moment of registration or biddinguntil the actual transfer of the Lot.
The Bidder undertakes to promptly notify the Company ofany changes to the information provided, including change of address, residencystatus, beneficial ownership, or sanctions status.

4.2. TheBidder warrants that all funds used to participate in the Auction and to payfor Lots are of lawful origin and are not connected to any criminal activity,tax evasion, money laundering, or terrorist financing.

4.3. Bypaying an invoice and/or purchasing a Lot, the Buyer confirmsthat they are not subject to any international or national sanctions, are notowned or controlled by, and do not act on behalf of, any sanctioned person orentity.
The Buyer undertakes to comply with the sanctions regimes ofthe European Union, the United Nations, the UnitedStates (OFAC), the United Kingdom, and the Republic ofLatvia.
The Buyer further confirms that the acquired Lot shallnot be used, transferred, exported, or delivered to the RussianFederation or the Republic of Belarus, nor to any personor entity subject to sanctions, and shall not be used to circumvent anyapplicable restrictions.

4.4. The Bidder confirmsthat they are acting in their own interest and as the ultimate beneficial owner(UBO).
If acting as an agent or intermediary, the Bidder guaranteesfull disclosure to the Company of the principal’s and UBO’sidentities and compliance with these Terms.
The Company reserves the right to refuse participation orwithhold delivery of a Lot pending completion of duediligence.

4.5. The Bidder confirmsthat they are not a politically exposed person (PEP), a family member ofa PEP, or a person known to be closely associated with a PEP.
If otherwise, the Bidder must notify the Company inwriting prior to participation in the Auction and provideadditional information, including details of the source of funds and sourceof wealth, upon request.

4.6. The Company mayrequest from the Bidder any documents or information necessaryto verify their identity, tax and residency status, source of funds, or theintended use of the Lot.
The Bidder consents to such verification procedures, includingthe processing of personal data and checks against national and internationalsanctions, compliance, and credit databases.
Where required, the Company may ask the Bidder tocomplete a Know Your Customer (KYC) form and to provide anyfurther information or documentation necessary under the Prevention ofMoney Laundering and Terrorism Financing Act (NILLTFNL) or ifthe Company has grounds to consider a transaction unusual,complex, or subject to enhanced due diligence.

4.7. Paymentfor a Lot may be made only from an account held in the name ofthe registered Bidder.
Payments from third parties, as well as cash payments exceeding statutorylimits or made using anonymous payment instruments, shall not be acceptedwithout the prior written consent of the Company.
The Company reserves the right to return such payments to thesender and to withhold delivery of the Lot pendingclarification of the circumstances.

4.8. Wherethe Company has reasonable doubts as to the accuracy ofinformation provided, the lawful origin of funds, the sanctions status ofthe Bidder, or the intended use of the Lot, the Company may:
– refuse registration or participation in the Auction;
– suspend or annul participation or Auction results;
– retain or withhold delivery of the Lot pending completion ofchecks;
– report the transaction to the competent authorities.
Any suspension or delay in the release of a Lot under thisclause shall not constitute a breach of the Company’s obligations.

4.9. The Bidder undertakesto cooperate fully with the Company and competent authorities,to provide requested data and documents, and to take all reasonable stepsrequired to demonstrate compliance with sanctions, customs, export control, andAML legislation, including, where necessary, the provision of end-use or end-user declarations.

4.10. The Bidder bearsfull responsibility for any consequences of non-compliance with this Sectionand shall indemnify the Company in full against any losses,penalties, fines, storage, transportation, legal or administrative expenses, orany other costs incurred as a result of providing false information, breachingsanctions or AML requirements, or refusing to cooperate.

4.11. TheBuyer agrees not to dispute or initiate any chargeback in respect of paymentsmade in performance of these Terms, except where expressly permitted byapplicable law.

In the event of a breach of this obligation, the Buyer shall, upon theCompany’s demand, immediately settle the outstanding amount and reimburse allrelated costs, commissions, payment system penalties, banking charges, and anyother losses incurred by the Company.

4.12. Thewarranties and representations of the Bidder under thisSection shall survive the completion of the Auction, payment, andtransfer of the Lot, for the duration permitted by law forcompliance verification and legal liability.

4.13. Anybreach by the Bidder of the provisions of this Section shallconstitute a material breach of these Terms and entitlesthe Company to exercise the remedies provided herein,including refusal of participation, annulment of the transaction, retention ofthe Lot, and notification of the competent authorities.

SECTION 5 - CONDUCT OF THE AUCTION

5.1. Each Lot offeredfor sale at the Auction is published by the Company onthe official Website www.antiqon.com and/or in the printed auction catalogue.
Lots may be offered either on behalf of Sellers or,where applicable, by the Company itself when the Lot isowned by the Company.
Each Lot is accompanied by a description, image, estimate, andstarting price.
The Company may also publish Lots on partneronline Auction platforms (including, but not limited to, Drouot, BidSpirit, LiveAuctioneers, TheSaleroom, and others).
In all such cases, participation and settlement shall remain governed bythese Terms, irrespective of the platform used.

5.2. Only Bidders whohave been duly registered and approved by the Company, and who havecompleted identity verification in accordance with the laws of the Republic ofLatvia, including the Law on the Prevention of Money Laundering andTerrorism and Proliferation Financing (NILLTFNL), are entitled toparticipate in the Auction.

5.3. TheCompany reserves the right to refuse admission, restrict participation, orcancel the registration of any person at its sole discretion and withoutobligation to provide reasons, if such participation would contraveneapplicable law, sanctions regulations, internal compliance policies, or couldotherwise harm the reputation of the Company.

5.4. Bids areaccepted:

– in the auction hall;

– by telephone;

– in the form of absentee bids;

– online through the Company’s official Website;

– through partner Auction platforms.

The Bidder may independently place absentee bids and maximum bidsthrough their Personal Account on the Website up until the start of bidding forthe relevant Lot, unless otherwise specified in the terms of a particularAuction.

The Bidder may also submit to the Company an absentee bid form or atelephone bid form in the form prescribed by the Company. Such forms must besent by e-mail and must be received by the Company no later than 24 hoursbefore the start of the Auction. Forms received after this deadline may berejected or may not be processed by the Company in time.

The Company may establish additional requirements regarding the form andprocedure for submitting absentee and telephone bids, including the use ofapproved forms and the provision of identification documents.

5.5. Eachsubsequent Bid must exceed the previous one by not less thanthe minimum increment established by the Company for therelevant price range.

5.6. Biddersmay place Bids manually or through the automatic bidding system ("MaximumBid"), under which the Company′s system automaticallyincreases the Bidder′s offer up to the pre-set limit.

The winning Bid may be lower than the maximum amount specified bythe Bidder.

5.7. All Bids,including automatic Bids, are binding and, as a general rule, may not bealtered, withdrawn, or cancelled once placed, except as expressly provided inthese Terms or required by applicable law.

5.8. In theevent of identical Bids, priority shall be given to the Bid firstregistered in the Company′s electronic system.

5.9. The Company acceptstelephone and written absentee bids in the order in which they are received butshall not be held liable for any delay, non-receipt, incomplete or incorrectexecution of such bids, nor for any technical malfunctions, communicationfailures, or disruptions caused by third-party services or equipment.

5.10. CurrentBids are displayed on the Lot page in real time.

The Company reserves the right to limit or temporarily suspend biddisplay on the Website in the event of technical issues, suspectedmanipulations, or any other circumstances affecting the integrity of theAuction.

5.11. Each Lot isoffered for a specific time period determined by the Company.
Bidding on the Lot closes upon expiry of that period.

5.12. Thewinning Bidder is the Participant who places the highest valid Bid.The sale of the Lot is subject to the reserve price being met, where suchreserve price is established.

5.13. Ifthe reserve price is not met, the Lot shall be deemed unsold.
The Company may, at its discretion, engage in negotiationswith Bidders or third parties regarding a possible sale ofthe Lot after the Auction ("post-auctionsale").

5.14. The Company reservesthe right, at any time prior to or during the Auction, to withdrawany Lot, amend its description, estimate, or starting price, wherethere are doubts regarding authenticity, provenance, ownership, or the accuracyof information.
Bidders shall have no right to claim damages, compensation, orreimbursement of any expenses arising from such decisions.

5.15. The Company,at its sole discretion, may:
– reject any Bid without providing reasons;
– determine or modify the minimum increment;
– declare any disputed or erroneous Bid invalid;
– reopen bidding on a Lot to ensure a fair outcome.

5.16. A Lot isdeemed sold at the price of the final winning Bid ("HammerPrice").

5.17. Informationabout successful purchases shall be made available in the Bidder’sPersonal Account and/or sent to their registered e-mail address.

5.18. The Bidder bearsfull responsibility for any errors made when placing Bids,including incorrect entry of the amount, Lot number, or otherdata entry mistakes not attributable to the Company.

5.19. All Auctions areelectronically recorded by the Company’s system.
Server logs, including IP addresses, time stamps, and digital transactionrecords, constitute official proof of the conduct and results of the Auction andshall prevail over any other source of information.

5.20. Inthe event of technical failures, power outages, loss of communication, or othercircumstances preventing the proper completion of the Auction,the Company reserves the right to extend, suspend, or cancelbidding for the affected Lot and to relaunch it once the causehas been remedied.
The Company shall not be liable for any loss, loss of profit,or indirect damages incurred by Bidders as a result of suchcircumstances.

SECTION 6 - PAYMENT AND COLLECTION OF LOTS

6.1. The Buyer mustpay the full amount due for the Lot within seven (7) calendardays of the date on which the Company issues the invoice,unless otherwise agreed in writing.

6.2. The total amount payable shall include:

– the price offered and accepted during the Auction (the“Hammer Price”);

– the Buyer’s Premium of 28% (twenty-eightpercent) of the Hammer Price;

– artist’s resale royalty (droit de suite), whereapplicable;

– additional charges (banking fees, payment processingfees, administrative charges and payment system fees);

– any commission charged by a partner auction platform(including Drouot, BidSpirit, LiveAuctioneers, The Saleroom, etc.), where theLot was purchased through such a platform and such commission is payable by theBuyer under the rules of the relevant platform or the terms of the specificAuction.

The Buyer’s Premium is 28% of the Hammer Priceand applies to all Lots, regardless of the method of participation in theAuction.

Additional fees may apply when participating throughpartner auction platforms, where such fees are provided for under the terms ofthe relevant platform or the specific Auction. These fees shall be disclosed toBidders before they place their Bids.

6.3. Payment may be made by one of the following methods:

– bank transfer to the Company’s account;

– payment by bank card (via the Personal Account or at the office);

– cash, within the limits permitted by the applicable laws of theRepublic of Latvia;

– PayPal (where technically available).

6.4. Paymentswill be accepted only from the registered Bidder in whose namethe Lot was purchased. Third-party payments require the Company’s priorwritten consent.

6.5. Title tothe Lot shall pass to the Buyer at the moment when the Company receives in itsaccount the full amount of funds payable in accordance with Clause 6.2 of theseTerms.

From that moment, all risks of accidental loss, damage, or deteriorationof the Lot shall pass to the Buyer, including risks related to transportationand storage.

Until that moment, the Lot remains the property of the Seller (or of theCompany, where the Lot is owned by the Company).

6.6. Late payment. In the event of late payment, the Company may (but is not obliged to)accrue and charge default interest at 0.1% of the invoice total per calendarday of delay, commencing on the 8th day after the invoice date, capped at 10%of the outstanding amount.

6.7. If the Buyer fails to pay for the Lot within fourteen (14) calendardays from the date ofthe invoice, the Company shall have the right, without further notice tothe Buyer, to:

– cancel the Auction results in respect of the relevant Lot;

– re-offer the Lot for Auction or otherwise sell it by anyreasonable means;

– retain the guarantee deposit as compensation for losses;

– include the Buyer in the Company’s internal register ofdefaulting Bidders;

– refuse the Buyer access to future Auctions;

– suspend or restrict the Buyer’s access to the Websiteand its functionality, including the Personal Account;

– recover from the Buyer any losses arising out of the non-performanceof obligations.

6.8. The Buyeragrees that, in the event of cancellation of the Auction results due tonon-payment for the Lot, the Company shall have the right to sell the Lot at aprice determined on the basis of market conditions, without reference to thepreviously achieved Hammer Price, and the Buyer shall have no right to raiseany claims in connection with such sale.

6.9. Payment processing surcharge. For certain payment instruments (including PayPal,international credit cards and other third-party payment systems), the Companymay charge a separate administration fee to cover third-party paymentprocessing costs. The amount of such fee depends on the chosen payment methodand is disclosed to the Buyer prior to payment. This fee does not form part ofthe Lot price and is charged solely to recover processing costs.

6.10. Apayment is deemed made only upon actual receipt in full bythe Company. All bank charges, currency-conversion costs,international payment fees and any shortfalls caused by intermediary oracquiring institutions are for the Buyer’s account. In case ofpartial receipt, the Buyer must remit the shortfall withoutdelay.

6.11. Taxtreatment (Margin Scheme). Sales are conducted under the EU VAT MarginScheme for works of art, antiques and collectors’ items (Directive2006/112/EC). VAT is included in the margin and is neither itemised norrecoverable. No VAT refund is available.

6.12. Release and delivery. The Company does not provide deliveryservices as a principal service and accepts no responsibility for packing,transport or delivery carried out by third parties.

The Buyer must arrange collection, packing and delivery at theirown cost.

Upon request and subject to availability, the Company may assistin suggesting carriers and arranging packing, insurance or export formalitieson a chargeable basis, without assuming responsibility for the actions of suchthird parties.

No warranty is given as to timing or outcome.

6.13. Exportand certificates. Where required, the Company mayassist (on request and at the Buyer’s expense) with obtainingexport permits for works of art and antiques from Latvia and/or CITES certificates.All official fees and related costs are payable by the Buyer.

6.14. Storageand paid warehouse. If the Buyer does not arrange collection of the Lot withinthe time limits established in Section 7 of these Terms, the Company shall havethe right to transfer the Lot to paid storage at an external warehouse orspecialised storage facility. The costs of transportation and storage (at thewarehouse’s applicable rates) shall be borne by the Buyer. Release of the Lotfrom storage shall take place only after full payment of all additionalcharges.

SECTION 7 - COLLECTION AND DELIVERY OF LOTS

7.1. TheBuyer must collect the paid Lot (self-collection) within fourteen (14) calendardays from the date on which full payment is received in the Company’s account,unless otherwise agreed with the Company.

The Lot shall be released at the place of its actual location, as specifiedby the Company for the relevant Auction, Lot, or pre-Auction exhibition. TheCompany may, by prior agreement with the Buyer, determine another place ofrelease, including the location of the pre-Auction exhibition or another agreedstorage location.

The period for collection of the Lot shall begin exclusively from themoment full payment is received in the Company’s account.

7.2. The Companydoes not provide delivery services as a principal service and is not aparty to any contract of carriage or insurance.

Once the Lot has been handed over to the Buyer’srepresentative, carrier, or any third party acting on the Buyer’sbehalf, all risks of loss, damage, delay, or deterioration shall pass tothe Buyer.

7.3. Upon the Buyer’srequest, the Company may, at its discretion and subject toavailability, assist in arranging transportation, courier services, packing,insurance, or the preparation of documents required for shipment or export.

Such assistance is provided on a best-efforts basis, for a separatefee, without any guarantee as to timing or successful completion ofdelivery, and without the Company assuming responsibility for the actions ofthird parties.

7.4. Allcosts related to packing, storage, transportation, insurance, exportformalities, and any other ancillary services are borne exclusively bythe Buyer and are not included in the HammerPrice or the Buyer’s Premium.

7.5. Inthe case of export outside the Republic of Latvia, the Buyer issolely responsible for obtaining all necessary export licences, permits,certificates, and other documentation, and for compliance with all customs,import, and cultural-heritage laws of the destination country.
The Company may, where required and feasible, assist withexport documentation and CITES certification; however, allassociated costs shall be borne by the Buyer.

7.6. The Lotshall be released to the Buyer (or an authorised representative) onlyafter:

– receipt by the Company of the full payment in cleared funds;

– completion of all required AML/KYC and export compliance checks (whereapplicable); and

– settlement of any additional costs, including storage, packing, ordelivery charges.

7.7. Thetransfer of the Lot is recorded in the Company′s internal system.

In the case of collection in person, the handover may be confirmed bythe Buyer′s or authorised representative′s signature on transport orwarehouse documentation.

7.8. The Buyer assumesfull responsibility for any restrictions under the cultural-heritage laws ofthird countries and for potential restitution or ownership claims.
The Company reserves the right to withhold the Lot inthe event of a lawful request from competent authorities.

SECTION 8 - COMPANY WARRANTIES AND LIABILITY

8.1. The Company organisesand conducts the Auction, provides its technical, organisationaland informational support, and facilitates interactions between Sellers and Buyers inaccordance with these Terms. The Company acts in good faith andwithin its authority but shall not be liable for any loss suffered by a Buyer arisingfrom participation in the Auction or the purchase of a Lot,including, without limitation, loss of profit, loss of opportunity, loss ofreputation or other indirect or consequential losses, save where mandatory lawexpressly provides otherwise.

8.2. The Company’swarranty is strictly limited to ensuring that the Buyer receives thevery Lot won at the Auction, provided the Lot has beenfully and timely paid for.

Except where mandatory law expressly provides otherwise, the Companygives no other warranties as to the condition, authenticity, provenance,attribution, dating, authorship or any other characteristics of the Lot.

8.3. All Lotsare offered and sold "as is", having regard to age, wear,prior restorations, repairs and other changes.

Except where mandatory law expressly provides otherwise, neither the Company,the Seller nor any engaged experts give warranties or accept liabilityas to condition, authenticity, provenance, attribution, dating, authorship,material, completeness, preservation or functionality of any Lot.

8.4. Photographs,videos and 3D images of Lots displayed on the Website orin printed catalogues are illustrative only and may not fully reproduce theactual colour, texture, scale or condition of the item. The absence of anyreference to defects, restorations or alterations does not imply their absence.

8.5. The Buyeris obliged to examine the Lot before participating in the Auction - either inperson at the time of the pre-Auction exhibition, during an inspection by priorarrangement with the Company, or remotely by requesting additional photographs,video materials, a Condition Report, or other information from the Company.

The Company provides such opportunity upon prior request and permitsinspection of Lots with the participation of independent experts.

By placing a Bid, the Bidder confirms that they have examined thecondition of the Lot and accept all risks associated with its purchase.

8.6. Followingthe close of the Auction and the recording of the sale, the Company will notaccept claims relating to:

– the condition, preservation or quality of the Lot;

– subsequent changes in expert opinion, attribution or valuation;

– re-assessment of authenticity, provenance or authorship;

– any mismatch with the Buyer’s subjective expectations.

8.7. Alldescriptions, comments, estimates and expert opinions published by the Company (incatalogues, on the Website or elsewhere) representprofessional opinion at the time of publication only and do not constitute awarranty, representation or statement of fact. The Company accepts no liabilityfor errors, misprints, inaccuracies or discrepancies in such descriptions.

8.8. The Company shallnot be liable for technical failures, interruptions of the Website,server, Internet or user equipment, nor for any inability to participate inthe Auction due to reasons beyond the Company’s control. TheCompany does not warrant uninterrupted availability of the Website or thefault-free operation of the online Auction.

8.9. The Auction isconducted as an open (public) Auction within the meaning ofLatvian law and in accordance with Article 16(k) of Directive2011/83/EU of the European Parliament and of the Council (the ConsumerRights Directive), which expressly excludes the consumer’s right ofwithdrawal for contracts concluded at public Auctions.
In line with the foregoing and paragraph 22.11 of Cabinet of MinistersRegulation No. 255 of 20 May 2014 (Regulations on DistanceContracts), the 14-day withdrawal right applicable todistance sales shall not apply to transactions concluded inthis Auction.
Accordingly, once the Auction has closed and payment has beenconfirmed, the Buyer shall have no right to cancel thetransaction, return the Lot, or claim a refund,regardless of the mode of participation (in-room, online, or by telephone).

8.10. The Company maysuspend, annul or cancel the Auction in respect of any Lot wheredoubts arise regarding authenticity, provenance or lawful title, or where thereare suspicions of breaches of law, sanctions rules or these Terms.

8.11. Inthe event of technical failures, the Auction may betemporarily suspended and resumed after the cause is remedied. All Bids previouslyrecorded shall remain valid unless the Company statesotherwise.

8.12. The Company operatesin strict compliance with the laws of the Republic of Latvia, the EuropeanUnion and applicable international AML/KYC and sanctionsregulations. The Company may suspend, annul or defer release of a Lot untilall required checks are completed.

8.13. Wherethere is a lawful basis, the Company may report to competentauthorities (including the Financial Intelligence Unit - FID) andmay withhold the Lot pending confirmation of lawful source offunds and compliance with export-control procedures.

8.14. The Company’sliability to any Bidder, Buyer or third party, including if atransaction is later declared invalid, shall be limited, to the maximum extentpermitted by applicable law, to the amount of the Buyer’s Premiumreceived by the Company for the relevant Lot. The Companyshall not be liable for any indirect, incidental, consequential, reputationalor non-material damages.

8.15. Anyclaim against the Company must be notified within six (6) monthsfrom the date of the transaction, to the extent permitted by applicable law;thereafter no claim will be accepted.

8.16. Allrights in Lot images, catalogue texts and Website materialsare owned by the Company and/or the relevant rightsholders.Any reproduction without prior written consent is prohibited. The Buyer agreesthat the Company may use images and information relating to the Lot forcatalogue, archival and marketing purposes.

SECTION 9 - RIGHTS AND OBLIGATIONS OF THE COMPANY

9.1. The Company managesthe ongoing operation of the Website, determining its structure,layout, content, and functional capabilities.
The Company reserves the right to modify the design,interface, features, and user access conditions at any time, without priornotice to Users or Bidders.

9.2. The Companymay, at its sole discretion, temporarily or permanently restrict, suspend, orterminate access to the Website, specific sections, or functionality forall Users or for an individual Bidder, without prior notice,except where otherwise required by applicable law, and without liability forany resulting losses.

9.3. The Companymay block or delete a User′s or Bidder′s account in cases ofviolation of these Terms, applicable laws, or sanctions, tax, or AML regulations.

Deletion of an account results in termination of access to the Website′sfunctionality; however, the Company may retain the relevant data to the extentnecessary for compliance with applicable legal obligations.

9.4. The Company mayissue to Bidders notifications, warnings, or directivesregarding breaches of these Terms, which shall be binding uponreceipt.

9.5. The Company shallprovide adequate technical and informational support to Users and Bidders withina reasonable period necessary to ensure proper access to and functioning ofthe Website.

9.6. The Company may,at any time, conduct security and identification checks of Bidders,including verification of identity, age, residence, tax and residency status,source of funds, and other registration data.

9.7. The Biddergrants the Company the right to use and disclose submitted documents anddata to third parties, including banks, payment providers, auditors, andcompetent public authorities, where necessary for verification, due diligence,or compliance with the laws of the Republic of Latvia, the European Union, andapplicable international obligations.

9.8. Failureto provide the requested information or discovery of inconsistencies entitlesthe Company to block or delete the Bidder′s account, cancel Bidsand Auction results, suspend release or delivery of the Lot, and, whereappropriate, notify competent authorities, including the FinancialIntelligence Unit (FID).

9.9. Users and Bidders consentto the storage and processing of their personal data provided duringregistration, including name, surname, residential address, e-mail, telephonenumber, and identity document details.

9.10. Theprocessing of personal data is carried out by the Company in accordancewith the laws of the Republic of Latvia, the EU General Data ProtectionRegulation (GDPR), and the Privacy Policy published onwww.antiqon.com.

The Company processes personal data solely for the purposes ofensuring access to and proper functioning of the Website, improvingservices, and complying with legal requirements.

Access to personal data is granted only to authorised employees andcontractors of the Company, to the extent necessary for the performanceof their duties.

Disclosure of personal data to third parties is permitted only whereexpressly required by law or upon lawful request of competent authorities.

The Company undertakes all reasonable and technically justified measuresto protect personal data from unauthorised access, alteration, disclosure, ordestruction.

9.11. The Companymay use data provided by the User for the following purposes:

– performance of these Terms and maintenance of the Website′sfunctionality;

– fulfilment of obligations towards Sellers and Buyers;

– compliance with applicable legislation, including sanctions and AMLrequirements;

– providing information to competent authorities upon lawful request.

9.12. TheCompany may send notifications and messages to the User using the contactdetails provided, including information regarding Auctions, events, functionalupdates, and promotional or informational materials related to the Company’sactivities.

9.13. The Company reservesthe right to make audio and video recordings of the Auction processfor the purposes of transparency, security, and dispute resolution.Participation in the Auction constitutes the Bidder’s consentto such recording.

9.14. The Company undertakesto maintain the confidentiality of personal and commercial information of Bidders,except where disclosure is required by law or necessary to comply with AML, KYC,sanctions, or tax regulations.

9.15. The User agreesthat the Company may collect, store, and analyse technical andstatistical data relating to use of the Website, including IPaddress, device type, operating system, browser, geolocation, and internetservice provider data.
Such data are processed in anonymised form and used solely to ensure theoperation and security of the Website, to improve service quality,to conduct analytics, and to comply with legal obligations.
The Company may also use aggregated statistical informationfor internal analytical and reporting purposes.

SECTION 10 - GOOD FAITH PARTICIPATION AND UNAUTHORISED CONDUCT

10.1. Every Bidder shallact in good faith, independently, and personally,adhering to the principles of fair competition and refraining from any conductthat may distort the course of the Auction, mislead other Bidders,or artificially influence demand.

10.2. Theuse of automated systems, scripts, software, technicaldevices, or any other means capable of affecting the speed ofbidding, operation of the Website, or accuracy of bidregistration is strictly prohibited.

10.3. Anyform of manipulation in the course of the Auction -including shill bidding, bid rigging, collusiveparticipation, the use of nominees or proxyBidders, or any attempt to interfere with or compromise the Company’ssoftware, servers, or infrastructure - is expressly forbidden.

10.4. The Company reservesthe right, at its sole discretion, to suspend, cancel, ordeclare null and void the results of any Auction or Lot ifthere are reasonable grounds to believe that dishonest, manipulative,or unlawful actions have occurred during participation.

10.5. Uponidentifying a violation, the Company may block or deletethe Bidder’s account, cancel all related Bids,suspend participation in current or future Auctions, and report theincident to competent authorities, including law enforcement or financialintelligence agencies.

10.6. Anybreach of this Section constitutes a material violation of these Terms and mayresult in the application of measures provided for herein - from restriction orsuspension of the use of the Website, blocking of the account, and annulment ofAuction results to refusal of further participation.

SECTION 11 - UNCOLLECTED AND ABANDONED LOTS

11.1. Lotsshall be deemed uncollected if they have not been collected by the Buyer withinthe time limits established in Section 7 and Clause 11.5 of these Terms.

11.2. TheCompany shall be entitled, without further notice, to transfer any uncollectedLots to paid storage (paid warehouse) at the applicable rates of its logisticsand storage partners.

11.3. Allexpenses relating to storage, transport, insurance, and subsequent release ofthe Lot must be fully settled by the Buyer priorto collection.

11.4. Apaid Lot cannot be returned, cancelled, or exchanged.
The Buyer has no right to withdraw from the purchase oncethe Auction has concluded and payment has been confirmed.
Refunds of sums paid are not permitted, in accordance with the establishedrules of Auction practice and the prevailing international standards governingthe trade in works of art and antiques.

11.5. If theBuyer has not collected the paid Lot within the time limits established inSection 7 of these Terms and has not agreed its collection or delivery, theCompany shall have the right to:

– send the Buyer a notice to the last known contact details requestingthat the Lot be collected within a reasonable period;

– upon expiry of that period, transfer the Lot to paid storage.

From the moment the Lot is transferred to storage, the Buyer shall becharged a storage fee in an amount determined by the Company, taking intoaccount the nature of the Lot, its dimensions, and the storage conditions.

The Company shall have the right to refuse storage of the Lot or tochange the storage conditions if such storage is economically unreasonable,involves disproportionate costs, or requires special conditions.

If the Buyer fails to respond, avoids collecting the Lot, or fails topay the storage costs within thirty (30) calendar days from the date the noticeis sent, the Company shall have the right, without any further consent of theBuyer, to:

– resell the Lot at Auction or otherwise by any reasonable means;

– determine the conditions of the resale, including the starting priceand estimate, based on market conditions and expert assessment, withoutreference to the previously achieved Hammer Price;

– deduct from the sale proceeds all amounts due to the Company,including storage, transportation, insurance, administrative costs, and anyother related expenses;

– retain the remaining balance until claimed by the Buyer.

The Buyer agrees that the resale of the Lot may be carried out at aprice different from the previously achieved Hammer Price and shall have noright to raise claims relating to the difference between the original price andthe resale price.

Any amount remaining after such deductions shall be payable to the Buyerupon demand within the period established by the applicable laws of theRepublic of Latvia. Upon expiry of that period, the Company shall have the rightto dispose of such amount in a manner permitted by law.

11.6. Ifthe Buyer contacts the Company before the Lot is resold, the Company shallrelease the Lot only after full payment of all accrued storage, transportation,and insurance costs. The Company shall have a right of retention over the Lotuntil all such expenses and storage charges have been paid in full.

11.7. Uponresale of the Lot, the original Buyer irrevocablyloses all rights to that Lot and shall have no claim to itsdelivery or to any refund of previously paid amounts.

11.8. TheCompany accepts no liability for any change in the Lot′s marketvalue, nor for potential defects, damages, loss of packaging, or accompanyingdocumentation occurring during storage or transport to the paid warehousefacility.

11.9. Thisprocedure applies to all Lots that have been paid for but notcollected by the Buyer within the prescribed time limits,irrespective of the reasons for the delay in collection.

SECTION 12 - FORCE MAJEURE

12.1. The Parties shallbe released from liability for the total or partial non-performance of theirobligations under these Terms if such non-performance resultsfrom force majeure circumstances, being events beyond the reasonable control ofthe Parties which could not have been foreseen, avoided, or overcome by theexercise of due diligence.

12.2. Forthe purposes of this Section, force majeure shallinclude, but not be limited to: acts of war, mobilisation, blockade, epidemicsor pandemics, terrorist acts, natural disasters (including fire, flood,earthquake, or similar events), strikes or labour disputes, acts or decisionsof governmental or regulatory authorities, embargoes, international sanctions,and any disruption to transport, energy, or telecommunications infrastructure,as well as other extraordinary events beyond the control of the Parties.

12.3. A Party affectedby force majeure shall, without undue delay, notify the other Party inwriting (including by electronic means), specifying the nature, expectedduration, and foreseeable consequences of such circumstances.

12.4. Shouldthe force majeure event continue for a period exceeding three (3)months, either Party shall be entitled to terminate theperformance of its obligations by providing written notice to the other Party.

12.5. Theoccurrence of force majeure shall not relieve a Bidder or Buyer fromthe fulfilment of obligations that had already fallen due prior to thecommencement of such circumstances.

SECTION 13 - CONFIDENTIALITY AND DATA PROTECTION

13.1. The Company, Sellers,and Bidders shall maintain strict confidentiality with respectto all information obtained in the course of organising and conductingthe Auction, including but not limited to information concerningclients, Lots, prices, and transaction values, except wheredisclosure is required by law or pursuant to a lawful request from a competentauthority.

13.2. All personaldata collected by the Company in connection with the implementationof these Terms shall be processed in accordance with the applicable dataprotection laws and the Company′s Privacy Policy.

13.3. The Company shallensure the security and integrity of all personal data, and shall takeappropriate measures to prevent unauthorised access, copying, alteration, ordisclosure of such information to third parties, except in cases prescribed bylaw or necessary for compliance with AML, KYC, or sanctionsregulations.

13.4. Theobligation to maintain confidentiality shall survive indefinitely, includingfollowing the termination of a person′s participation in the Auction.

13.5. The Companytakes reasonable measures to preserve the confidentiality of the identity ofall Auction participants and successful Buyers.

Names, contact details, country of residence, and any other personalinformation of participants shall not be published or disclosed to thirdparties, except where expressly required by law or where necessary forcompliance with AML, KYC, sanctions, or tax regulations.

Official Auction results may include only Lot numbers, finalprices, and aggregate statistical data which do not allow theidentification of any individual Buyer or Bidder.

SECTION 14 - FINAL PROVISIONS

14.1. All Bidders confirmtheir full legal capacity and competence, as well as their right to take part inthe Auction and to conclude transactions in accordance withthe laws of their respective jurisdictions.

14.2. The Company actsas the organiser and operator of the Auction, providing technical,organisational and informational support for its conduct, and may act asthe Seller with respect to Lots owned bythe Company.

14.3. The Company hasthe right to refuse or suspend execution of a transaction or delivery ofa Lot if such execution may result in a breach of sanctionslegislation or anti-money-laundering requirements.

14.4. The Company reservesthe right to amend or supplement these Terms at any timewithout prior notice to Users, provided that such amendments do notaffect the conditions of transactions already completed. The current version ofthe Terms shall be published on the official Website www.antiqon.com and shall take effect from thedate of publication.

14.5. Alldisputes, disagreements or claims arising out of or in connection withthese Terms shall first be settled through amicablenegotiations. If a settlement cannot be reached, the dispute shall be submittedto the competent courts of the Republic of Latvia inaccordance with the applicable legislation.

14.6. TheseTerms are drawn up in Russian, English, French and Latvian. All versions shallhave equal legal force; however, in the event of any discrepancies, the Latvianversion published on the official Website www.antiqon.com shall prevail.

14.7. Ifany claims or demands are brought against the Company arisingfrom the acts or omissions of a Bidder, such Bidder shallindemnify the Company in full for all losses incurred,including legal costs, fees, fines and expenses related to legal defence.

14.8. Allmatters not expressly regulated by these Terms shall be governed by theprovisions of the Civil Law of the Republic of Latvia and otherapplicable legal acts.

14.9. These Terms enterinto force upon their publication on the official Website www.antiqon.com and are binding upon all Auction participants.