AUCTION PROXY SERVICE TERMS

I. Service Scope & Procedures

1. Consultation, Admission & Entrustment

• Requirement Assessment: Clients provide auction session details and target item information. Our team evaluates the feasibility of participation.
• Registration Fee: Upon confirmation, a non-refundable registration fee is required.
  • Standard Fee: CNY 100 per session.
  • High-Value Bid: If the Maximum Bid exceeds CNY 20,000, the fee is 0.5% of the Maximum Bid.
  • Note: This fee is non-refundable regardless of the auction outcome.
• New Client Deposit: First-time clients must pay a security deposit equal to 40% of the planned Maximum Bid.
  • If the bid is successful, the deposit is applied toward the final payment.
  • If unsuccessful, the deposit is refunded in full.

2. Bidding Execution

• Auction House Registration: Our team handles registration and credit top-ups, if required, on your behalf.
• Setting the "Maximum Bid": Clients must specify their Maximum Bid before the auction. We will bid up to this limit.
  • Note: Please account for the Buyer's Premium (typically 25%-30% added to the hammer price) when setting your limit.
• Results: If the bid fails, the service for that session concludes. If successful, the settlement process begins immediately.

3. Post-Auction Settlement & Payment

• Cost Verification: Calculations are based on the official auction house invoice, including hammer price, buyer's premium, and applicable taxes.
• Invoice Settlement: Clients pay the invoice amount plus a Payment Processing Fee.
  • If handled by Collection World: currency exchange and remittance.
  • Invoice up to CNY 20,000: 3% of invoice amount.
  • Invoice CNY 20,001-CNY 50,000: 2.1% of invoice amount.
  • Invoice CNY 50,001-CNY 100,000: 1.5% of invoice amount.
  • Invoice over CNY 100,000: 0.9% of invoice amount.
  • If paid directly by the client: a flat commission of CNY 300 applies.

4. Collection, Shipping & Delivery

• Collection & Packing: Most auction houses do not offer direct shipping. We arrange third-party overseas collection.
  • Handling Fee: If we pay the collection or packing fee on your behalf, a 3% payment processing fee applies.
• Packaging Options:
  • Reinforcement: For fragile items requiring extra stabilization, a fee not exceeding CNY 200 applies.
  • Wooden Crate: For maximum safety, wooden crate packaging is available starting from EUR 400.
• International Logistics & Customs: We manage transit to China and customs clearance.
  • Postal Service: CNY 150 for the first 500g; CNY 10 per additional 100g.
  • FedEx: Minimum 6kg charge at CNY 80/kg. Charged by volumetric weight: L x W x H / 5000 cm.
• Service Commission:
  • Standard Items: 10% of total costs incurred.
  • Fragile Items: 15% of total costs incurred.
  • Minimum Commission: CNY 200.
• Final Settlement: Before domestic delivery, the client must settle all remaining costs, including collection, shipping, customs, and commission.
• Tax Refunds: If we assist in processing overseas tax refunds, a fee of 30% of the refunded amount will be charged.

II. Important Notes

• Payment Methods: We accept Alipay, WeChat Pay, bank transfers, or Xianyu. Any transaction fees incurred via Xianyu are borne by the client.
• Non-Cancellation Policy: Once a bid is successful, the client is legally bound. Defaults are not permitted. Orders cannot be terminated and items cannot be returned unless the auction house fails to deliver.
• Turnaround Time: Typical lead time is approximately 1.5 to 2 months.
• Shipping Safety & Liability:
  • Loss: Full refund if the item is lost during transit.
  • Damage: We will assist in filing a claim. Recovered compensation will be transferred to the client in full; however, we cannot guarantee the success of such claims.
• Breach of Contract: We reserve the right to suspend services if payments are not made on time.
• Amendments: Any modifications to these terms must be mutually agreed upon in writing.

HOBBEE Team