Effective as of 1 March 2023
Buying at Auction
The following pages are designed to offer you information on how to buy at auction at Phillips. Our staff will be happy to assist you.
Conditions of Sale
The Conditions of Sale and Authorship Warranty which appear later in this catalogue govern the auction. Bidders are strongly encouraged to read them as they outline the legal relationship among Phillips, the seller and the buyer and describe the terms upon which property is bought at auction. Please be advised that Phillips generally acts as agent for the seller. Bidders should also read the Important Notices immediately following this Guide for Prospective Buyers.
Phillips charges the successful bidder a commission, or buyer’s premium, on the hammer price of each lot sold. The buyer’s premium is payable by the buyer as part of the total purchase price at the following rates: 27% of the hammer price up to and including HK$7,500,000, 21% of the portion of the hammer price above HK$7,500,000 up to and including HK$50,000,000 and 14.5% of the portion of the hammer price above HK$50,000,000.
The purchase price payable for any lot is the sum of the hammer price plus the buyer’s premium plus and applicable tax and charges.
To bid on Premium Lots marked in the catalogue with the symbol *, prospective buyers must complete and satisfy Phillips’ Premium Lot pre-registration procedure no later than 24 hours before the start of the auction session in which the Lot is offered for sale. Premium Lot paddles will be issued to bidders who complete and satisfy the Premium Lot pre-registration procedure. The Auctioneer will only accept bids from Premium Lot paddles in respect of Premium Lots. For details, please contact the department organizing the auction or the Client Services Department at +852 2318 2000.
Gemstones (including diamonds and coloured gemstones such as rubies, sapphires, and emeralds)
Gemmological Certificates and Reports: Where available, certificates or reports issued by gemmological laboratories are provided for bidders’ information only. Phillips does not guarantee and accepts no responsibility for the accuracy of information or opinions contained in gemmological certificates or reports.
Origin and Treatment: Bidders should note that with the constant development of new scientific methods to determine the origin of gemstones and whether they have been treated to improve their look (including the extent or permanence of any treatment), there is often a lack of consensus among laboratories on these aspects. Phillips does not guarantee and accepts no responsibility for the accuracy of information or opinions contained in gemmological certificates or reports or in catalogue descriptions or condition reports as to the origin and possibility that gemstones have been treated and the reversibility or permanence of any treatment.
Estimates- We base estimates on information contained in gemmological reports, where these are available. If no gemmological reports are available, our estimates assume gemstones may have been treated or enhanced.
Stone Weights and dimensions- Where referenced, weights and dimensions are approximate only and based on information provided in any gemmological certificate or report, where available or where no certificate or report is available, on the reasonably held opinion of Phillips’ specialists who are not gemmological experts. Phillips does not guarantee and accepts no responsibility for the accuracy of any weights or dimensions provided.
Condition and Condition Reports
Any statements as to the condition of lots is not a representation of fact but rather a statement of opinion held by Phillips. The absence of any reference to condition does not imply that the lot is in perfect condition or free from wear or imperfections. Condition Reports are provided as a courtesy to potential bidders, who should note that lots may have faults not expressly referred to in the catalogue or condition report. Illustrations are provided for identification purposes only and cannot be used as precise indications of size or to convey full information as to the actual colour, condition or clarity of lots.