CHINESE AND WESTERN WINE 中西名酒珍釀 HONG KONG 7 APRIL 2014 香港 2014 年 4 月 7 日 Chinese and Western Wine 中西名酒珍釀7/F, One Pacific Place, 88 Queensway, Admiralty, Hong Kong 香港金鐘金鐘道 88 號太古廣場 1 期 7 樓 + 852 2303 9899 HONG KONG 7 APRIL 2014

保利香港拍賣日程 Poly Auction (Hong Kong) Sale Calendar 中國古代書畫編號 :HKS9014 2014 年 4 月 6 日星期日上午 10:00 中國近現代書畫編號 :HKS3014 2014 年 4 月 6 日星期日下午 2:00 璀璨珠寶編號.. HKS2114-1 2014 年 4 月 6 日星期日下午 2:00 中國及亞洲現當代藝術編號 :HKS1014 2014 年 4 月 6 日星期日下午 7:00 珍貴鐘錶編號 :HKS2114-2 2014 年 4 月 6 日星期日下午 7:00 豹變 東亞百年風雲遺藏編號 :HKS2814-1 2014 年 4 月 7 日星期一上午 10:00 海會應真 佛教藝術專場編號 :HKS2814-2 2014 年 4 月 7 日星期一下午 1:30 中國古董珍玩編號 :HKS2814-3 2014 年 4 月 7 日星期一下午 2:00 中西名酒珍釀編號 :HKS1214 2014 年 4 月 7 日星期一下午 3:00 中國當代水墨 [I] 中國當代經典水墨編號 :HKS1814-1 2014 年 4 月 7 日星期一下午 7:00 太璞如琢 崔如琢精品專場 [II] 編號 :HKS1814-3 2014 年 4 月 7 日星期一下午 7:00 中國當代水墨 [II] 中國當代新水墨編號 :HKS1814-2 2014 年 4 月 7 日星期一下午 7:00 Classical Chinese Paintings and Calligraphy Sale: HKS9014 Sunday 6 April 2014 10:00 am Fine Modern Chinese Paintings and Calligraphy Sale: HKS3014 Sunday 6 April 2014 2:00 pm Important Jewels Sale: HKS2114-1 Sunday 6 April 2014 2:00 pm Chinese and Asian Modern & Contemporary Art Sale: HKS1014 Sunday 6 April 2014 7:00 pm Important Watches Sale: HKS2114-2 Sunday 6 April 2014 7:00 pm A Historical Collection of East Asian Politics and Arts in Early 20 th Century Sale: HKS2814-1 Monday 7 April 2014 10:00 am The Grand Gathering of Enlightened Beings Sale: HKS2814-2 Monday 7 April 2014 1:30 pm Chinese Ceramics & Works of Art Sale: HKS2814-3 Monday 7 April 2014 2:00 pm Chinese and Western Wine Sale: HKS1214 Monday 7 April 2014 3:00 pm Chinese Contemporary Ink Paintings (I) - Contemporary Chinese Classical Paintings Sale: HKS1814-1 Monday 7 April 2014 7:00 pm Glossiness of Uncarved Jade - Special Auction of Cui Ruzhuo (II) Sale: HKS1814-3 Monday 7 April 2014 7:00 pm Chinese Contemporary Ink Paintings (II) - New Chinese Ink Paintings Sale: HKS1814-2 Monday 7 April 2014 7:00 pm 預先登記 PRE-REGISTRATION 因閣下是首次參與競投, 如未獲得我方認可的註冊客戶推薦, 保證金為港幣 500,000 元 如閣下打算競投高估價拍賣品 ( 在圖錄內或電子圖錄內標有〇符號之拍賣品 ), 保證金為港幣 1,000,000 元 保利香港拍賣可要求競投高估價拍賣品的準競投人完成預先登記程序及交付保證金或其他由保利香港拍賣決定之更大金額的保證金及任何財務狀況証明, 擔保或及其他由保利香港拍賣可全權酌情決定要求的抵押作為參加保利香港拍賣競投的保障 If this is the first time you participate in bidding with Poly Auction (Hong Kong), and you have not been recommended by a registered client endorsed by us, the deposit will be HK$ 500,000. If you intend to bid on a "Premium Lot" (i.e., a lot marked 〇 in the printed catalogue or the digital catalogue), the deposit will be HK$ 1,000,000, and in either case, you must deliver to Poly Auction (Hong Kong) such necessary financial references, guarantees, deposits and/or such other security as Poly Auction (Hong Kong) may in its absolute discretion require for your bid. LOT 1362

拍賣地點 1 : + 852 2303 9899 : + 852 2303 9888 預展 1 4 4 4 7 * 10 6 * 4 4 巡迴預展 10 1 3 8 3 9 10 6 1218 3 15 3 16 10 6 105 5 105 3 22 3 23 10 6 AUCTION VENUE Hong Kong, Grand Hyatt Hong Kong 1 Harbour Road, Wan Chai, Hong Kong Tel: + 852 2303 9899 Fax: + 852 2303 9888 CHINESE AND WESTERN WINE 中西名酒珍釀 拍賣 2014 4 7 3:00 1201-1431 HKS1214 AUCTION Monday 7 April 2014 3:00 pm (Lots 1201-1431) Sale Number: HKS1214 VIEWING Hong Kong, Grand Hyatt Hong Kong 1 Harbor Road, Wan Chai, Hong Kong 4-7 April* 10:00 am 6:00 pm *Preview of each sale starts from 4 April until one day prior to its auction. TRAVELLING VIEWINGS Beijing, 10/F New Poly Plaza No. 1 Chaoyangmen Beidajie, Dongcheng District, Beijing 8-9 March 10:00 am 6:00 pm Shanghai, Jing An Shangri-La, Lotus Chamber No. 1218 Middle Yan an Road, Jing an District, Shanghai 15-16 March 10:00 am 6:00 pm Taipei, 5/F Xinyi 105 Building No. 105, SongRen Road, Xinyi District, Taipei City 22-23 March 10:00 am 6:00 pm LOT 1412

專家及服務查詢 SPECIALISTS AND SERVICES ENQUIRIES DIRECTOR OF POLY INTERNATIONAL AUCTION, BEIJING & HONG KONG 保利香港拍賣董事 Zhao Xu 趙旭 ds@polyauction.com POLY AUCTION (HONG KONG) Managing Director & HEAD OF Chinese and Asian Modern & Contemporary Art 保利香港拍賣執行董事及中國及亞洲現當代藝術部門主管 Alex Chang 張益修 achang@polyauction.com.hk Specialists 專家 T: +852 2303 9870 gyau@polyauction.com.hk GEORGE YAU 丘雨楓 WORLDWIDE 全球 HONG KONG 香港 T: + 852 2303 9899 F: + 852 2303 9888 email: sale@polyauction.com.hk BEIJING 北京 Zoey Yang 楊曦 Li Haiying 李海英 Wang Yuanyuan 王媛媛 T: +86 10 6408 2592 F: +86 10 6408 2159 email: beijing@polyauction.com.hk SHANGHAI 上海 Zhang Jin 張瑾 Huang Jie 黃潔 T: + 86 21 5178 0399 email: shanghai@polyauction.com.hk TAIPEI 台北 Huang Hongren 黄宏任 Jasmine Chang 張榛育 Shally Lin 林雪王函 T: + 886 2 2581 3855 email: taipei@polyauction.com.hk LOS ANGELES 洛杉磯 Huang Zheng 黃正 Zhao Dong 趙東 T: +1 800 332 2892 T: +1 408 838 8819 NEW YORK 紐約 Wong Kin 黃健 T: +1 212 273 0822 SYDNEY 悉尼 Hui Dor Lun 許多倫 T: + 61 2 401978282 T: + 61 411711918 MELBOURNE 墨爾本 Pan Naijian 潘乃建 T: +61 401 978 282 T: +61 396 713 116 T: +61 426 829 868 JAPAN 日本 Haruko Kazami 風見治子 Wu Jiacheng 吳駕晟 T: + 81 3 6278 8011 保利香港官方微信 Poly Auction (Hong Kong) official Wechat 北京保利官方微信 Poly Auction (Beijing) official Wechat LoT 1313

保利香港拍賣有限公司董事會主席 CHAIRMAN OF POLY AUCTION (HONG KONG) LTD. 蔣迎春 Jiang Yingchun 保利香港拍賣有限公司董事 DIRECTOR OF POLY AUCTION (HONG KONG) LTD. 趙旭 Zhao Xu 保利香港拍賣有限公司執行董事 MANAGING DIRECTOR OF POLY AUCTION (HONG KONG) LTD. 張益修 Alex Chang 保利香港拍賣有限公司董事財務總監 DIRECTOR & CHIEF FINANCIAL OFFICER OF POLY AUCTION (HONG KONG) LTD. 彭兆君 Peng Zhaojun 專家及服務查詢 SPECIALISTS AND SERVICES ENQUIRIES 中國及亞洲現當代藝術 CHINESE AND ASIAN MODERN & CONTEMPORARY ART +852 2303 9880 cmca@polyauction.com.hk 鍾嘉賢 Gladys Chung 余箐憫 Jamie Yu 許維筑 June Hsu 姚垚 Yao Yao 梁芷茵 Jessica Leung 中國近現代書畫 FINE MODERN CHINESE PAINTINGS AND CALLIGRAPHY +852 2303 9830 +86 10 6408 2310 fcpc@polyauction.com.hk 羅戈弟 Luo Gedi 王文佳 Wang Wenjia 王媛媛 Wang Yuanyuan 程遠楓 Cheng Yuanfeng 陳彥鋒 Chan Yin Fung 中國古代書畫 CLASSICAL CHINESE PAINTINGS AND CALLIGRAPHY +852 2303 9832 +86 10 6408 2317 ccpc@polyauction.com.hk 楊曦 Zoey Yang 程夢求 Tony Cheng 關羽 Guan Yu 中國當代水墨 CHINESE CONTEMPORARY INK PAINTINGS +852 2303 9805 +86 10 6408 2304 ccip@polyauction.com.hk 唐麗麗 Lillian Tang 徐行 Mia Xu 馮甜甜 Feng Tiantian 馮宇佳 Fiona Fung 中國古董珍玩 CHINESE CERAMICS & WORKS OF ART +852 2303 9853 woa@polyauction.com.hk 李移舟 Li Yizhou 慕文泊 Mu Wenbo 宮諍 Gong Zheng 杜紀波 Du Jibo 徐雯 Xu Wen 林麗旋 Lin Lixuan 郭英東 Daniel Kwok 唐冶 Keason Tang 珠寶及鐘錶 JEWELS & WATCHES +852 2303 9823 jls@polyauction.com.hk 于文浩 Wenhao Yu 桂湘 Liam Gui 施思 Sze Sze 陳鈺琪 Yoki Chan 趙晶晶 Amanda Zhao 中西名酒珍釀 CHINESE AND WESTERN WINE +852 2303 9870 gyau@polyauction.com.hk 丘雨楓 George Yau 藝術空間 GALLERY +852 2303 9878 gallery@polyauction.com.hk 林芳如 Dorothy Lin 趙汝琦 esther Chiu 財務及客户服務 FINANCE & CLIENT RELATIONS +852 2303 9869 +852 2303 9861 +852 2303 9862 finance@polyauction.com.hk cs@polyauction.com.hk 呂學民 Robin Lv 林幼絲 Jo Lam 張佩菁 Denise Cheung 李翠嬋 Cicada Lee 公關及市場拓展 PUBLIC RELATIONS & MARKETING +852 2303 9875 events@polyauction.com.hk pr@polyauction.com.hk 吳嘉豪 Danny Ng 竇雷 Ray Dou 倉務及物流 WAREHOUSE & LOGISTICS +852 2303 9871 shipping@polyauction.com.hk 黄濤 Toto Wong 傅嘉榮 Wing Fu 楊俊傑 Chris Yeung 吳光俊 Fernando Ng 接待處 RECEPTION +852 2303 9899 info@polyauction.com.hk sale@polyauction.com.hk 陸星潼 Jessica Luk 資訊科技 INFORMATION TECHNOLOGY +852 2303 9877 it@polyauction.com.hk 朱照全 Chris Chu 營運及行政 OPERATION & ADMINISTRATION +852 2303 9870 operation@polyauction.com.hk 黄光 Gloria Wong 徐智勇 Stanley Tsui 保利香港駐北京代表 REPRESENTATIVE OF POLY AUCTION HK (BEIJING OFFICE) +86 10 6408 2592 beijing@polyauction.com.hk 楊曦 Zoey Yang 李海英 Li Haiying 王媛媛 Wang Yuanyuan 保利香港駐台灣代表 REPRESENTATIVE OF POLY AUCTION HK (TAIPEI OFFICE) +886 2 2581 3855 taipei@polyauction.com.hk 黄宏任 Huang Hongren 張榛育 Jasmine Chang 林雪 Shally Lin 保利香港駐上海代表 REPRESENTATIVE OF POLY AUCTION HK (SHANGHAI OFFICE) +86 21 5178 0399 shanghai@polyauction.com.hk 張瑾 Zhang Jin 黃洁 Huang Jie

CHINESE AND WESTERN WINE 中西名酒珍釀 目錄 contents 6 專家及服務查詢 Specialists and Services enquiries 12 拍品 Property for Sale 130 索引 Index 133 領取 付運及倉儲 Collection, Delivery & Storage 134 重要通告及目錄編列方法之說明 Important Notices and explanation of Cataloguing Practice 136 業務規則 Condition of Business 146 競投登記須知 Important Notice about Bidding Registration 147 財務付款須知 Important Notice about Payment 149 競投牌登記表格 Bidding Registration Form 151 委託競投表格 Absentee Bid Registration LOT 1211

威士忌 WHISKY 威士忌是一種使用大麥 黑麥 玉米等穀物為原料 經發 酵 蒸餾後放入橡木桶之中進行酵化而陳釀多年後 調配成 酒精濃度高於40以上的酒精性飲料 屬於烈性蒸餾酒 Uisge beatha 蘇格蘭蓋爾語意指 生命之水 在拉丁文 中被稱為aqua vitae的飲料 就是我們耳熟能詳的威士忌 所謂 生命之水 一開始指的其實酒精這種物質本身 因為 早期人類在剛發現蒸餾術時 並不太瞭解這種新技術的原 理 而誤以為酒精是種從穀物之中所提煉出來的精髓 如同 人的身體裡藏有靈魂 而靈魂是生命的精隨 因此經過蒸餾 之後所產生的烈酒 才會在西方被稱為 Spirits 靈魂而各 種跟蒸餾有關的酒類名詞如威士忌 白蘭地 伏特加及阿克 瓦維特 Akvavit 等 其背後都有相關的由來 由此可見威 士忌其實是在一個非常廣泛的區域裏經過一段悠長的時間而 逐漸演變而成的一種酒 它在不同地區會有不同的稱呼 即 使同樣的稱呼在不同地區也可能代表不同的意義 並非一個 很明確的分類 但為了方便理解 人們通常只會把以穀物為 原料製造出來的的烈酒稱為 威士忌 幾乎所有種類的威士忌都需要在橡木桶中陳年一定時間之後 才能裝瓶出售 因此我們可以把陳年這道手續列為製造威士 忌酒的必要過程 穀物的特點和橡木的色澤使每瓶威士忌均 別具特色 除此之外 要能在蒸餾的過程之中保留下穀物的 原味 以便能和純穀物製造且經過過濾處理的伏特加酒或西 洋穀物酒 例如Everclear 區別 是威士忌另一個較為明確 的定義性要求 Whisky, also spelled whiskey, is a type of distilled alcoholic beverage made from a variety of fermented grains, including barley, malted barley, rye, malted rye, wheat, buckwheat and corn. Whisky is typically aged in wooden casks made commonly of charred white oak. The word whisky derives from the Gaelic word uisce and uisge, meaning water. Distilled alcohol was known in Latin as aqua vitae meaning the water of life, and was then translated to the Irish term uisce beatha and Scottish term uisge beatha, both meaning lively water or water of life. This term came to be during the early development stages of the distillation technique, when the principles of the technique were not fully understood yet. With a lack of knowledge, people mistakenly thought that the alcohol is an essence extracted directly from the grains, similar to the idea of extracting one s soul from one s body. This in turn created the term Spirits, referring to the products from the distillation process. Hard liquor produced from distilleries such as whisky, brandy, vodka, akavit, and others, all have their own origin stories as well. Some of these terms vary from region to region. Sometimes in different regions, the same word may have different meanings, and may be referring to a different alcohol. However, in order to facilitate understanding, people generally assume that whisky is distilled from various grains. An essential step in distillation is the process of aging whiskies in oak barrels before bottling, since most whiskies require this process. Every bottle of whisky is unique. Depending on the characteristics of the grains used, as well as the type of oak used to make the barrels, can cause very different results in the final product. Whisky is especially distinct from other types of spirits such as vodka or Everclear, in that it maintains the original taste of the grains during the process of distillation, giving whiskies that clear and distinct flavor and irreplaceable spot in enthusiasts hearts. 彼得 魯本斯 維納斯 邱比特 酒神和穀神 1612-13年 德 國 卡塞爾 州立博物館藏 Peter Paul Rubens, Venus, Cupid, Bacchus and Ceres, 1612-13, Collection of Staatliche Kunstsammlungen, Kassel, Germany 威士忌 Whisky

蘇格蘭威士忌 SCOTCH WHISKY 蘇格蘭威士忌 意指一種只在蘇格蘭地區生產的威士忌 與 其他地區生產的威士忌所最大的區別 乃是於製造的過程中 使用了 泥炭 關於甚麼樣的威士忌才能被稱為蘇格蘭威士 忌 英國政府早在1909年已有明文規定 現行的蘇格蘭威士 忌管理法規是根據1988年時的 蘇格蘭威士忌法案 所制 訂 該法規已在1990年6月開始生效 法案中針對蘇格蘭威 士忌的名詞定義原文翻譯如下 蘇格蘭威士忌是一種威士忌 它 1.必須在位於蘇格蘭的蒸餾廠裡製造 只能使用水與發芽的 大麥做為原料 其中只允許添加其他穀物的全穀 而且這些 原料必須 蘇格蘭威士忌蒸餾分佈圖 Scotch Whisky Distilleries Map from water and malted barley, with only whole grains of other cereals can be added. Other regulations include having the molted barely processed into a mash, converted in to a fermentable substrate only using endogenous enzyme systems, and fermented by added yeast all at the same distillery; as well as requiring the whisky to be distilled at an alcoholic strength by volume of more than 40% (80 US proof) but less than 94.8% (190 US proof). The SWR also requires Scotch to be matured in an excise warehouse in Scotland in oak casks of a capacity not exceeding 700 liters for at least three years, retaining the color, aroma, taste of the raw materials used in, and the method of its production and maturation, and lastly containing no added substances, other than water and plain caramel coloring. 1)在蒸餾廠裡現場磨碎 2)只能利用內在的酵素系統來轉化為可發酵的物質 3)只可添加酵母來進行發酵 2.只能蒸餾到酒精度少於94.8%的水準 如此才能保留蒸餾產 物中使用的原料與蒸餾方法所造成的香氣與口味 3.所使用的橡木桶容量不能超過700公升 且必須在位於蘇格 蘭的保稅倉中進行陳放 而陳放時間不能短於三年 4.只能擁有因其所使用的原料或製造以及陳年的方法所產生 的色澤 香氣與口味 且除了水與酒用焦糖之外禁止添加其 他物質 5.禁止在蘇格蘭境內製造其他不是 蘇格蘭威士忌的威士忌種類 6.任何 想要在歐盟境內銷售或從歐盟外銷的蘇格蘭威士忌 其裝瓶 後的酒精度都不得低於40% ABV的下限 Scotch, short for Scotch Whisky, refers to malt or grain whisky made in Scotland, where strict laws regulate the whisky industry. As of 2009, the Scotch Whisky Regulations (SWR) defined and regulated the production, labelling, packaging, and advertising of Scotch in the United Kingdom, but the International agreements also made provisions to have the SWR apply in countries outside of the UK as well. Replacing the previous regulations that focused solely on the production of whiskies, the new regulations define Scotch whisky as whisky that is produced at a distillery in Scotland There are five major regions (some argue six in Scotland) that produce single malts in Scotland, with unique characteristics differentiating each region: Lowland, Islay, Highland, The Islands, Speyside, and Campbeltown. Lowland whiskies are generally regarded as the most light bodied of the Single Malt Whiskies, and the Auchentoshan is an example of a Lowland whisky. Islay whiskies are generally described as heavily peated, oily and even somewhat medicinal. Since Islay is an island off the coast of Scotland, marine characteristics can carry into the whiskies produced in this region. Ardbeg and Lagavullin are examples of Islay whiskies. Highland whiskies are not as light as the lowland whiskies but are still lighter and more elegant than the whiskies from Islay. Glenmorangie and Dalmore are examples of Highland whiskies. The Islands refers to all of the whisky producing islands in Scotland minus Islay, and is commonly considered part of the Highland district. However, because it creates unique products, some argue that it deserves its own region; Jura is an example of a whisky from the Islands. Speyside consists of the most distilleries in Scotland. Speyside whiskies are considered one of the most elegant whiskies in Scotland, and Speyside is the home to one of the most famous whisky brands of the world today. The Macallan, Glelivet, and Glenfiddich are examples of Speyside whiskies. Campbeltown whiskies have characteristics including a defined dryness with smoke and a solid salinity, imagine a cross between whiskies form the lowlands and whiskey from the western highlands with a pinch of salt thrown in. The Springbank is an iconic Campbeltown whisky, usually found at 10 years of age. The Single Malt Scotch Whisky is arguably one of the most popular whisky types in the world today, and its wide range of characteristics, depending on its region and the distillation process, keep enthusiasts intrigued. Ardbeg 阿貝 Auchentoshan 歐肯特軒 Ballantine s 百齡罈 Balvenie 百富 Bowmore 波摩 Dalmore 大摩 Glenfarclas 格蘭花格 Glenfiddich 格蘭菲迪 Glenlivet 格蘭利威 The Macallan 麥卡倫 Lagavulin 拉加維林 Glenmorangie 格蘭傑 Laphroaig 拉弗格 Glenrothes 格蘭露斯 HighLand Park 高原騎士 Glengoyne 格蘭哥尼

麥卡倫 Lot 1201-1213 THE MACALLAN Macallan 酒廠被已逝酒評家 Michael Jackson 評為威士忌之中的勞斯萊斯, 如同勞斯萊斯的權貴奢華, 是全世界最頂級的產品 麥卡倫總共用過三個名字 1824 年創立後到 1891 年間稱為 Elchies,Macallan 單一純麥威士忌瓶身的酒廠標誌是 Easter Elchies House, 而酒廠最初的名字 Elchies 也是取名為這棟古老又美麗的房子 1892 到 1980 年換名為 Macallan-Glenlivet,1980 年以後更名為 Macallan Macallan 酒廠特色和堅持, 在市場上創造出獨特的風潮與無人能及的地位, 這是眾所皆知的 Macallan 便是品質的保證 他們堅持使用 100% 黃金大麥, 認為黃金大麥能夠讓蒸餾出來的原酒更豐富. 酒廠總共有 21 隻與眾不同的蒸餾器, 承襲了自家酒廠制酒的傳統, 採小尺寸蒸餾器, 每一支蒸餾器不到 4 公尺高, 採用直火加熱 而設計林恩臂垂直斜下來, 狀似ㄇ字型的向下彎做成一個溜滑梯讓酒向下滑, 目的是讓酒體較厚重 Macallan 的單一純麥威士忌號稱是以 100% 的雪莉桶陳年來裝瓶, 比其它酒廠有著更深邃的酒色, 以及更濃郁的果香味, 除此之外, 酒廠還宣稱只用 First Fill( 首次裝桶 ) 的酒來做為單一純麥威士忌的裝瓶, 讓 Macallan 的單一純麥威士忌喝起來比其它酒廠更加別具風味且層次豐富 但也由於現在雪莉酒桶的難以取得, 使成本相對提升 再加上老酒的匱乏, 於是令 Macallan 的老酒越加顯現其高價和珍貴性 麥卡倫特殊酒款依舊是全世界收藏家認為非常值得收藏的品牌酒 例如 Fine & Rare 系列 :Vintages1926 至 1976 年的老酒屢屢在國際的威士忌 拍賣會上創新高價 另外, 麥卡倫珍稀 Lalique 老酒系列, 更是市場上難得尋覓的珍品, 是所有麥卡倫收藏家必定爭相收藏的威士忌 The Macallan whisky has been coined by Michael Jackson, the deceased wine critic, as the Rolls-Royce of whiskies, a best of the best whiskies in the world. Since its inception, the Macallan distillery has gone through three different names. From 1824 to 1891, it was called Elchies, named after its beautiful historical Highland manor house, the Easter Elchies House. Easter Elchies House was also the distinct trade mark labeled on The Macallan single malt whisky bottles. Then, from 1892 to 1980, the name was changed to The Macallan- Glenlivet. After 1980, the name was changed again to The Macallan. The unique features and uncompromisingly high standards of the Macallan distillery have earned itself an unparalleled status in the market and a distinguished reputation renowned to the world. The Macallan s commitment to using 100% golden barley is its guarantee for high-quality. The Macallan believes golden barley gives its new make spirit a fuller body and richer flavour. One of the important features that marks The Macallan s own unique whisky-making tradition is their curiously small stills. The distillery has in total of 21 curiously small stills, each less than 4 meters tall. These direct-fire stills have a special Lyne Arm that provides a downward slide where the spirit flows down during the distillation process. The purpose of such design is to achieve a heavier-bodied spirit, a characteristic of the Macallan whisky. The Macallan single malt whisky is bottled from 100% spirit aged in sherry oak casks, giving it a rich fruity flavor and deep natural colors unequaled by others. Furthermore, the Macallan uses only First Fill to bottle its single malt whiskies - another reason for its robust, aromatic, and full-bodied taste so unique of its own and unsurpassed by any other. Today as quality sherry oak casks are getting more and more difficult to obtain, with costs rapidly rising and a shortage of vintage spirits on the market, the Macallan vintage whisky becomes an even more rare and valuable collectable today. Many of the special expressions in the Macallan range are considered the most valuable and collectable whiskies in the world. The Fine & Rare range of vintage single malt whiskies is a prime example that sits at the apex of the Macallan range. Over the years, the Fine & Rare range has dominated auctions around the world, repeatedly setting world record prices. In addition, the Macallan s rare Lalique series, is yet another highly treasured item difficult to find on the market and a must-have for all the Macallan collectors.

1201 麥卡倫 20 年攝影大師系列 : 亞伯特 沃森版 The Macallan 20 Albert Watson Edition 斯佩塞單一純麥威士忌 40 度 750ml 全球限量 1000 瓶 Speyside Single Malt ABV40% 750ml Limited release of 1000 bts HK$ 12,000-20,000 US$ 1,500-2,600 1202 麥卡倫 32 年水晶瓶裝 The Macallan Decanter 32 斯佩塞單一純麥威士忌 49.4 度 750ml Speyside Single Malt ABV49.4% 750ml HK$ 32,000-50,000 US$ 4,100-6,400 Lot 1203 Lot 1204 1203 麥卡倫 1939 高登及麥克菲爾標籤 The Macallan 1939 Gordon & MacPhail Label 斯佩塞單一純麥威士忌 750ml Speyside Single Malt ABV70 Proof 750ml HK$ 50,000-80,000 US$ 6,400-10,300 1204 麥卡倫 1959 高登及麥克菲爾標籤 The Macallan 1959 Gordon & MacPhail Label 斯佩塞單一純麥威士忌 46 度 750ml Speyside Single Malt ABV46% 750ml HK$ 30,000-50,000 US$ 3,800-6,400 Lot 1201 Lot 1202

1205 麥卡倫彼得 布萊克爵士 80 歲紀念版 The Macallan Sir Peter Blake Decades Collection 斯佩塞單一純麥威士忌 52-62 度 50ml 全球限量 250 盒 8 瓶 Speyside Single Malt ABV52-62% 50ml Limited release of 250 boxes 8bts HK$ 85,000-100,000 US$ 10,900-12,800 1207 麥卡倫攝影大師系列第三代 : 安妮 萊柏維茲限定版 The Macallan Masters of Photography: Annie Leibovitz Edition 斯佩塞單一純麥威士忌 59.6/50.8/55.5/56.6 度 700ml 木桶編號 14007/7023/1009/12251 4 瓶 Speyside Single Malt ABV59.6/50.8/55.5/56.6% 700ml Cask#14007/7023/1009/12251 4bts HK$ 120,000-160,000 US$ 15,400-20,500 1209 麥卡倫藍標 30 年 The Macallan 30 斯佩塞單一純麥威士忌 43 度 700ml 2 瓶 Speyside Single Malt ABV43% 700ml 2bts HK$ 200,000-300,000 US$ 25,600-38,500 1206 麥卡倫女王就職紀念版 Macallan The Queens Diamond Jubilee 斯佩塞單一純麥威士忌 52 度 700ml 全球限量 2012 瓶 Speyside Single Malt ABV52% 700ml Limited release of 2012 bts HK$ 27,000-35,000 US$ 3,500-4,500 1208 麥卡倫珍稀系列 1946 The Macallan Fine & Rare 1946 斯佩塞單一純麥威士忌 44.3 度 700ml 木桶編號 262 Speyside Single Malt ABV44.3% 700ml Cask#262 HK$ 150,000-180,000 US$ 19,200-23,100 Lot 1207

1210 麥卡倫璀璨 55 年 The Macallan 55 in Lalique II 斯佩塞單一純麥威士忌 40.1 度 750ml 全球限量 470 瓶 Speyside Single Malt ABV40.1% 750ml Limited release of 470 bts HK$ 200,000-300,000 US$ 25,600-38,500 1211 麥卡倫璀璨 57 年 The Macallan 57 in Lalique III 斯佩塞單一純麥威士忌 48.5 度 750ml 全球限量 400 瓶 Speyside Single Malt ABV48.5% 750ml Limited release of 400 bts HK$ 200,000-300,000 US$ 25,600-38,500 深黃檀木 豐富, 拋光橡木具有異國情調的, 甜的乾果, 柑橘和清新泥炭煙 辣與曬乾葡萄乾和橘子 柔潤 滑順 微, 帶一點柑橘與尼煤煙燻香的後韻 櫻桃木色 氣味明顯奔放, 帶有乾燥水果 黑櫻桃 柚木 及泥煤的煙燻香 甜, 並有乾燥水果配木質香味, 以及淡淡的泥煤味 厚實而悠長但同時也很柔順 Colour: Dark rosewood Nose : Rich, polished oak with exotic, sweet dried fruits, citrus and a hint of peat smoke Palate: Spicy with sun dried raisins and orange zest Finish : Wonderfully soft, smooth and spicy with lingering touches of citrus and peat smoke Colour: Cherry wood Nose : Dried fruits, heavy, aromatic, black cherry, sandalwood, peat smoke Palate: Sweet, dried fruits with wood spices, soft peat Finish : Long and full yet soft

1212-1213 麥卡倫璀璨 60 年 The Macallan 60 in Lalique IV 斯佩塞單一純麥威士忌 53.2 度 700ml 全球限量 400 瓶 Speyside Single Malt ABV53.2% 700ml Limited release of 400 bts HK$ 220,000-320,000 US$ 28,200-41,000 櫻桃色 氣味複雜, 肉桂 烤蘋果 與檸檬香當中參雜黑醋栗葉與木桶的香味, 但由尼煤味主等整體的香氣 甜味包覆了口中柑橘及黑巧克力味, 加上一點悶燒的泥煤味 厚實帶有泥煤襯托著淡淡麥芽的尾韻 Colour: Cherry Nose : Complex, cinnamon, toasted apple and lemon intertwined with blackcurrant leaf and polished oak, all encompassed by peat Palate: Mouth-coating, sweet, citrus, dark chocolate and smouldering peat Finish : Succulent, lightly fired malt caressed by peat

大摩 Lot 1214-1219 DALMORE 1214 大摩 1973 Dalmore 1973 1218 大摩星座 40 年 Dalmore Astrum 40 高地單一純麥威士忌 45 度 700ml Highland Single Malt ABV45% 700ml HK$ 20,000-40,000 US$ 2,600-5,100 高地單一純麥威士忌 42 度 700ml 全球限量 500 瓶 Highland Single Malt ABV42% 700ml Limited release of 500 bts HK$ 40,000-60,000 US$ 5,100-7,700 Dalmore 是以蓋爾語與挪威語所組成, 意思為 遼闊草原 酒廠自 1839 年起便開始生產單一純麥威士忌, 以皇家雄鹿的鹿角為標誌, 同時也是最早的創辦人 Alexander Matheson 家族的家徽 酒廠位於蘇格蘭高地北部海岸 Kildermorie 湖邊, 擁有清澈優質的水源與其它自然資源 大麥的則來自於酒廠不遠處由黑島豐富的沿海肥沃土壤所養成的 Ross-shire 而其酒廠面向海邊, 倉庫長年受海風吹拂因此提供了良好的熟成條件 最後, Dalmore 還擁有一項非常厲害的技術, 便是能純熟的釀造出單一純麥威士忌所需要的酵母, 利用其製造出十分純淨的原酒 近年來,Dalmore 的老酒聲勢水漲船高, 在 2005 年時, 以一款 62 年的蘇格蘭單一純麥威士忌, 創下 3.2 萬英鎊的拍賣高價! The name Dalmore is a fusion of Norse and Gaelie and means the big meadowland. The distillery was established in 1839 by Alexander Matheson, and the brand icon Royal emblem of 12-pointed stag was passed down since 1263 by the founder s predecessor. The distillery is located about 32km north of Inverness, beside the lake Kildermorie. With ample supplies of grain from Ross-shire, and water from the River Alness, the site is a perfect place for making whisky. For years, Dalmore only publish 12-year-old single malt, but in time they added 21 and 31-yeaer-old into production line. On 15 April 2005, a bottle of 62-year-old Dalmore was sold for 32,000, since then the core range of whisky production has swelled alongside limited-release bottlings. 1215-1216 大摩 1980 Dalmore 1980 Rare Vintage 高地單一純麥威士忌 40 度 700ml 6 瓶 Highland Single Malt ABV40% 700ml 6bts HK$ 38,000-45,000 US$ 4,900-5,800 1219 大摩極光 45 年 Dalmore Aurora 45 高地單一純麥威士忌 45 度 700ml 全球限量 200 瓶 Highland Single Malt ABV45% 700ml Limited release of 200 bts HK$ 62,000-80,000 US$ 7,900-10,300 1217 大摩 40 年 Dalmore 40 高地單一純麥威士忌 40 度 700ml Highland Single Malt ABV40% 700ml HK$ 40,000-60,000 US$ 5,100-7,700

淵遠流長的中國酒文化 THE EXTENDED AND PROLONGED DEVELOPMENT OF THE CHINESE LIQUOR CULTURE 酒在中國的發展最早可追溯到上古時代, 抱樸子 中說 : 黃帝造酒泉法, 以曲米和成丹藥, 素問 載 : 黃帝命作湯液酒醴以為備 酒最初用以祭祀天地神靈和先祖, 先秦時期, 酒與祭祀儀式緊密相連, 酒具因而在祭祀的禮器中佔有很大的比重 在商周以後, 酒雖然仍在祭祀活動中不可或缺, 但已經慢慢走向民間, 如東漢王粲在 酒賦 中對酒的讚頌 : 章文德於廟堂, 協武義於三軍 致子弟之孝養, 糾骨肉之睦親 成朋友之歡好, 贊交往之主賓 不論居廟堂之高或處江湖之遠, 日常應酬或集宴歡飲等不同場合, 酒在各個生活面向中, 都持續扮演著相當重要的角色 酒在數千年的發展與文化積累下, 不論是詩詞的詠頌 書畫創作的啟發與精緻酒具的製作, 都來自文人墨客將他們對於生活的感悟與審美意識投入其中, 如曹操 短歌行 中的感慨 : 何以解憂, 唯有杜康 李白 將進酒 的感懷 : 人生得意須盡歡, 莫使金樽空對月, 唐代 醉僧 懷素性情疏放, 頗好嗜酒, 每當酒酣興發, 一遇到寺壁裡牆 衣裳器皿, 無所不書, 運筆如游絲裊空, 留下了如驟雨旋風, 字字飛動 圓轉自如的 自敘帖 在另一方面, 歷代以來更不斷積極的研製酒具, 將生活中悠然而雅致的情趣美在酒具上發揮得淋漓盡致, 以陶瓷 金屬 玉器 琺瑯 竹 木 牙 角 匏器等各種材質為酒具, 特別突出了酒可觴詠抒懷的文人雅趣, 從宮廷到民間, 酒不僅是一種物質生活的需求, 也成就人們內在精神的抒發與需要 懷素 自敘帖 唐代台灣台北國立故宮博物院藏 Huai Su, Autobiography, Tang Dynasty, Collection of National Palace Museum, Taipei, Taiwan The development of liquor in China can be traced back to the ancient times. The Baopuzi written in the Jin Dynasty and the ancient Chinese medical text Huandi Neijing s first text Suwen both refer to the use of liquor for different uses. Liquor was initially used for religious ceremonies worshipping the gods and spirits of the earth and sky, as well as our ancestors. During the early Qing dynasty, liquor and religious ceremonies were greatly connected; therefore containers for liquor in ceremonies were prominent during the time. Then after the Shang dynasty, liquor still remained present in religious ceremonies, but it was growing more and more popular amongst the people. The lord of the East-Han dynasty, Wang Can praised the effect of liquor in his book Jiufu. No matter one s status or occasion, liquor plays an important role in various aspects of people lives. 顧閎中 韓熙載夜宴圖 五代中國北京故宮博物院藏 Gu Hongzhong, The Night Revels of Han Xizai, Five Dynasties, Collection of the Palace Museum, Beijing, China Over thousands of years of progression in the culture, liquor has inspired many from poetry to art, to the production of fine vessels; all because liquor has helped release direct feelings people have with the world around them. This idea was also mentioned by Cao Coa, chancellor of the eastern Han-dynasty, and the poet Li Bai as well in their texts. On the other hand, an extensive progression of liquor vessels were also developed, using an array of materials such as porcelain, metal, jade, franc, bamboo, wood, horns, and many other types of materials. This extensive growth especially shows that liquor not only exits in the palace and amongst the people, it is not only a materialistic necessity in life, but it is also a spiritual support and soothing buffer needed in everyday life.

中國體育代表團慶功酒 CHINESE SPORTS DELEGATION CELEBRATION WINE 中國體育代表團慶功酒組合是在 2012 年貴州茅台酒股份有限公司與中國奧運會結為合作夥伴為背景, 由貴州茅台酒股份有限公司頂級調酒大師以茅台典藏 50 年 30 年 15 年陳年酒為基礎經過特殊勾兌, 精釀而成 外包裝由國際一流設計師量身打造, 其寓意為喜慶祥和, 彰顯奧運精神和尊貴品質 中國體育代表團慶功酒組合限量發行 200 套, 十分具有收藏價值 中國體育代表團慶功酒組合的四款酒均以中國紅為基調, 傳承茅台經典瓶型與斜掛綬帶標, 同時, 大量使用極具中國古典文化特色的龍紋 祥雲 寶珠等元素, 代表吉祥如意之意, 取義 雲能造雨以滋潤萬物, 帶來和諧氣象, 寶珠借其佛法深意, 寄託了能滿足眾生之意願 中國體育代表團慶功酒組合採用專用陶瓷酒瓶生產, 瓶身整體為呼應金 銀 銅牌概念而採用描金工藝製作, 每個瓶子使用金水 ( 黃金液化後之金水 )2.5 克, 在凹凸瓶身上整體描金, 並在金上再做凹凸雲紋處理, 再經入窯以高溫燒制而成, 並使用浮雕勾線手法, 勾勒紅色雲紋, 瓶底為鐳射雕刻商標 整體瓶身在大面積的啞光金中, 點綴亮金和線條, 令整個瓶體熠熠發光, 永不褪色和氧化, 使這份榮耀, 雖歷萬年, 也可永世傳承 寶珠造型寓意福托寶珠, 並用特殊材料手工打磨, 使寶珠外形更加細緻柔和, 展現祥和大氣的中國風采 中國體育代表團慶功酒組合外盒採用純正實木外盒, 並飾以紅色雲紋, 整體更顯得厚重大氣, 更以國酒茅台傳統的斜掛綬帶標識為元素, 以金 銀 銅色金屬滑塊作為瓶身點綴, 並設計金屬滑軌作為木盒開啓的滑動機關, 更加顯示了他的別出心裁 This pristine valley inhabited by the deers is where the Glenfiddich distillery rests, giving the brand its mean, as Glenfiddich means the valley of the deer in Gaelic. Today, it is one of the top-selling brands of single malt whiskey in the world. The brand was founded by William Grant, who later created the company William Grant & Sons. Glenfiddich is one of the very few family-run Scotch whiskey distilleries whose whiskey is sold across the globe. The founder, William Grant, devoted decades of hands-on experience working at the distillery. The distillery uses water from the Robbie Dhu Spring, one of the finest sources of spring water, for its whiskies. The Glenfiddich whiskey is also well-known for its unique triangular-shaped bottles that were launched in 1957. With the Grant family s uncompromising standards and hardwork, William Grant & Sons gradually earned itself a solid reputation. In 1963, the Grant family redefined itself with a daring switch. The company decided to abandon its production of blended whiskies all together and officially became the first-ever company that sells single malt whiskey throughout Great Britain. What it did was considered revolutionary and unprecedented at the time. William Grant & Sons successfully developed a brand new breed of single malt whiskey that has become a favorite around the globe. This success undoubtedly attested to the extraordinary vision of the Grant family. Throughout its five generations of family lineage in producing high-quality whiskey, Glenfiddich has received countless prestigious international awards and honors. It s continuous outstanding performance in the International Wine and Spirit Competition (IWSC), Distiller of the Year, and International Spirit Competition (ISC) etc. has won itself the honor of the one brand that has received the greatest number of awards in the world. Glenfiddich, without a question, is one of the very few entirely family-run whiskey distilleries that has been passed down within the family from the very beginning, and is a company that never stops bringing forth innovative visions and possibilities. Included in this auction is the Janet Sheed Roberts Reserve, named in honor of Janet Sheed Roberts the longest-living lady in Scotland. This rare reserve marked her 110th birthday anniversary. Mrs. Roberts is the granddaughter of the Glenfiddich founder William Grant, and the heart and soul of the Glenfiddich distillery. Janet Sheed Roberts Reserve was distilled in 1955 and delicately aged in cask 29 over 55 years. Finally, 11 bottles of this elegant Glenfiddich Janet Sheed Roberts Reserve 55 year old from cask 4222 was made available to the public, one dedicated to each decade of Mrs. Roberts s life. Needless to say, this is the nectar of whiskies. Only 11 bottles in the world, extremely rare, this is unquestionably one of the most highlighted lot this auction.

1220-1229 貴州茅台中國體育代表團慶功酒 Kweichow Moutai Chinese Sports Delegation Celebration Wine 53 度 500ml 2012 年金牌 : 50 年銀牌 : 30 年銅牌 : 15 年奧運慶功酒 : 5 年 ABV53% 500ml Bottled at: 2012 Gold Medal: 50 Year Old Silver Medal: 30 Year Old Bronze Medal: 15 Year Old Celebration: 5 Year Old Lot 1220: 1 組共 4 瓶 ; a set of 4 bts Lot 1221: 1 組共 4 瓶 ; a set of 4 bts Lot 1222: 1 組共 4 瓶 ; a set of 4 bts Lot 1223: 1 組共 4 瓶 ; a set of 4 bts Lot 1224: 1 組共 4 瓶 ; a set of 4 bts Lot 1225: 1 組共 4 瓶 ; a set of 4 bts Lot 1226: 1 組共 4 瓶 ; a set of 4 bts Lot 1227: 1 組共 4 瓶 ; a set of 4 bts Lot 1228: 1 組共 4 瓶 ; a set of 4 bts Lot 1229: 1 組共 4 瓶 ; a set of 4 bts HK$ 90,000-140,000 US$ 11,500-18,000

地方國營 Lot 1230-1238 LOCAL STATE-OWNED 1231 1983 年五星牌貴州茅台 地方國營 ( 附棉紙 ) Five-Star Kweichow Moutai Local Stateowned 1983 (Paper Wrapped) 1230 80 年代五星牌貴州茅台 地方國營 ( 附棉紙 ) Five-Star Kweichow Moutai Local Stateowned 1980s (Paper Wrapped) 54 度 540ml 2 瓶 1983 年 1 月 10 日 3 月 23 日 ABV54% 540ml 2 bts Bottled at: 10 Jan. / 23 Mar. 1983 HK$ 120,000-170,000 US$ 15,400-21,800 54 度 540ml 3 瓶 1984 年 2 月 19 日 1984 年 3 月 1985 年 10 月 26 日 ABV54% 540ml 3 bts Bottled at: 19 Feb. 1984 / Mar. 1984 / 26 Oct. 1985 正面酒標右下角書有 地方國營茅台酒廠出品 的字樣, 被稱為 地方國營 地方國營 茅台酒與 1987 年及以後生產的茅台酒在包裝上有顯著區別, 地方國營 酒的容量為 540ml, 以後的均為 500ml, 這也成為茅台酒斷代的重要標準 這三瓶酒瓶身包裹的棉紙保存的十分完整, 口味醇和細膩, 陳香, 熟香, 濃郁綿長, 是陳年茅台酒中的典範 HK$ 170,000-220,000 US$ 21,800-28,300 1232 1985 年五星牌貴州茅台 地方國營 Five-Star Kweichow Moutai Local Stateowned 1985 54 度 540ml 6 瓶 1985 年 1 月 30 日 3 月 19 日 4 月 23 日 7 月 27 日 8 月 5 日 10 月 9 日 ABV54% 540ml 6 bts Bottled at: 30 Jan. / 19 Mar. / 23 Apr. / 27 Jul. / 5 Aug. / 9 Oct. 1985 Lot 1231 On the bottom-right of the label in front writes, Produced by locally administered state-run Moutai Brewer, making this lot the Locally Administered State-Run Five-star Kweichow Moutai. The packaging of the Locally Administered State-Run Moutai liquor differs greatly from Moutai liquor produced after 1987. One quality being that Moutai liquors before 1987 had a volume of 540ml, and those after 1987 had a volume of 500ml. This became a critical characteristic to help determine the time at which the Moutai liquor was produced. The original cotton papers wrapping the two bottles still remain intact and complete. The taste of the liquor is concentrated and subtle, with its aged and matured fragrance that is dense and lasting; an epitome of aged Moutai liquor. HK$ 240,000-290,000 US$ 30,700-37,200 Lot 1232

1233 1986 年五星牌貴州茅台 地方國營 Five-Star Kweichow Moutai Local State-owned 1986 54 度 540ml 6 瓶 1986 年 4 月 11 日 (2 瓶 ) 4 月 15 日 6 月 7 月 11 日 8 月 ABV54% 540ml 6 bts Bottled at: 11 Apr. (2 bts) / 15 Apr. / Jun. / 11 Jul. / Aug. 1986 HK$ 230,000-280,000 US$ 29,500-35,900 1236 1983 年五星牌貴州茅台 地方國營 Five-Star Kweichow Moutai Local State-owned 1983 54 度 540ml 6 瓶 1983 年 6 月 7 日 6 月 8 日 6 月 11 日 (2 瓶 ) 9 月 2 日 11 月 14 日 ABV54% 540ml 6 bts Bottled at: 7 Jun. / 8 Jun. / 11 Jun. (2 bts) / 2 Sep. / 14 Nov. 1983 HK$ 280,000-330,000 US$ 35,900-42,400 Lot 1233 1234 1986 年五星牌貴州茅台 地方國營 Five-Star Kweichow Moutai Local State-owned 1986 54 度 540ml 6 瓶 1986 年 2 月 20 日 3 月 27 日 5 月 5 日 8 月 16 日 9 月 5 日 9 月 12 日 ABV54% 540ml 6 bts Bottled at: 20 Feb. / 27 Mar. / 5. May / 16 Aug. / 5 Sep. / 12 Sep. 1986 HK$ 230,000-280,000 US$ 29,500-35,900 Lot 1234 1235 1984 年五星牌貴州茅台 地方國營 Five-Star Kweichow Moutai Local State-owned 1984 54 度 540ml 6 瓶 1984 年 1 月 1 日 1 月 6 日 6 月 14 日 6 月 26 日 9 月 23 日 10 月 28 日 ABV54% 540ml 6 bts Bottled at: 1 Jan. / 6 Jan. / 14 Jun. / 26 Jun. / 23 Sep. / 28 Oct. 1984 HK$ 270,000-320,000 US$ 34,600-41,100 Lot 1235

1237 80 年代五星牌貴州茅台 地方國營 Five-Star Kweichow Moutai Local State-owned 1980s 54 度 540ml 9 瓶 1980 年代 1984 年 11 月 10 日 11 月 20 日 11 月 27 日 1985 年 10 月 28 日 11 月 22 日 1986 年 9 月 16 日 9 月 30 日 1986 年 ABV54% 540ml 9 bts Bottled at: 1980s / 10 Nov. / 20 Nov. / 27 Nov. 1984 / 28 Oct. / 22 Nov. 1985 / 16 Sep. / 30 Sep. 1986 / 1986 HK$ 360,000-410,000 US$ 46,100-52,600 1238 80 年代五星牌貴州茅台 地方國營 Five-Star Kweichow Moutai Local State-owned 1980s 54 度 540ml 12 瓶 1980 年代 (2 瓶 ) 1984 年 2 月 17 日 3 月 15 日 8 月 18 日 1985 年 1 月 10 日 7 月 1985 年 1986 年 8 月 8 日 9 月 15 日 9 月 30 日 12 月 25 日 ABV54% 540ml 12 bts Bottled at: 1980s (2 bts) / 17 Feb. / 15 Mar. / 18 Aug. 1984 / 10 Jan. / Jul. 1985 / 1985 / 8 Aug. / 15 Sep. / 30 Sep. / 25 Dec. 1986 HK$ 510,000-560,000 US$ 65,400-71,800

三大革命 Lot 1239-1247 THREE REVOLUTIONS 1240 80 年代五星牌貴州茅台 三大革命 Five-Star Kweichow Moutai Three Revolutions 1980s 五星 商標自 1953 年後長期作為茅台酒內銷使用, 因背標書 解放後在中國共產黨領導下, 開展三大革命運動, 不斷地總結傳統經驗, 改進技術, 提高品質 具有醇和濃郁 特殊芳香 味長回甜之獨特風格, 收藏界稱其為 三大革命, 此包裝約 1967-1982 年期間使用 1239 1976 年五星牌貴州茅台 三大革命 Five-star Kweichow Moutai Three Revolutions 1976 54 度 540ml 3 瓶 1980 年 7 月 5 日 1982 年 1982 年 5 月 10 日 ABV54% 540ml 3 bts Bottled at: 5 Jul. 1980 / 1982 / 10 May 1982 HK$ 160,000-210,000 US$ 20,500-27,000 Since 1953, the Five-Star logo has long been used for the domestic sale of Moutai liquor. The text written on the back-label 54 度 540ml 1976 年 9 月 3 日 of this lot, translates to After the liberation, under the leadership of the Chinese Communists, Three revolutions began. It continues ABV54% 540ml 1 bt Bottled at: 3 Sep. 1976 to synthesize traditional experiences, upgrade techniques and improve its quality. It has the unique trace of mellowness and concentration, as well as a particular scent with a sweet lasting HK$ 70,000-120,000 aftertaste. Therefore, it is commonly referred to as Three US$ 9,000-15,400 Revolutions by collectors. The lot is packed approximately in 1967. Lot 1240 1241 1980 年五星牌貴州茅台 三大革命 ( 附棉紙 ) Five-Star Kweichow Moutai Three Revolutions 1980 (Paper Wrapped) 54 度 540ml 1980 年 8 月 2 日 ABV54% 540ml 1 bt Bottled at: 2 Aug. 1980 HK$ 54,000-100,000 US$ 7,000-12,800 Lot 1241

1242 1980 年五星牌貴州茅台 三大革命 ( 附棉紙 ) Five-Star Kweichow Moutai Three Revolutions 1980 (Paper Wrapped) 54 度 540ml 1980 年 ABV54% 540ml 1 bt Bottled at: 1980 HK$ 54,000-100,000 US$ 7,000-12,800 1244 80 年代五星牌貴州茅台 三大革命 Five-Star Kweichow Moutai Three Revolutions 1980s 54 度 540ml 6 瓶 1980 年 9 月 24 日 1981 年 3 月 24 日 7 月 25 日 1982 年 2 月 20 日 3 月 23 日 6 月 13 日 ABV54% 540ml 6 bts Bottled at: 24 Sep. 1980 / 24 Mar. / 25 Jul. 1981 / 20 Feb. / 23 Mar. / 13 Jun. 1982 HK$ 310,000-360,000 US$ 39,700-46,200 本酒出廠日期為 1980 年, 瓶身包裹的棉紙保存的十分完整, 具體 出廠日期仍被緊緊的包裹在棉紙裡面, 為最大程度的保護此酒原 貌, 未切開棉紙顯露具體日期, 具有很高的收藏價值 Lot 1242 1243 Lot 1244 1245 1981 年五星牌貴州茅台 三大革命 ( 附棉紙 ) Five-Star Kweichow Moutai Three Revolutions 1981 (Paper Wrapped) 54 度 540ml 1981 年 10 月 1 日 ABV54% 540ml 1 bt Bottled at: 1 Oct. 1981 80 年代五星牌貴州茅台 三大革命 Five-Star Kweichow Moutai Three Revolutions 1980s 54 度 540ml 6 瓶 1980 年 1981 年 8 月 14 日 6 月 16 日 1982 年 1982 年 5 月 18 日 6 月 3 日 ABV54% 540ml 6 bts Bottled at: 1980 / 14 Aug. / 16 Jun. 1981 / c. 1982 / 18 May / 3 Jun. 1982 HK$ 53,000-100,000 US$ 6,800-12,800 HK$ 310,000-360,000 US$ 39,700-46,200 Lot 1243 Lot 1245

1247 1982 年五星牌貴州茅台 三大革命 Five-Star Kweichow Moutai Three Revolutions 1982 54 度 540ml 12 瓶 1982 年 6 月 13 日 6 月 15 日 7 月 24 日 8 月 1 日 8 月 11 日 8 月 27 日 (2 瓶 ) 9 月 12 日 9 月 13 日 9 月 27 日 10 月 4 日 11 月 17 日 ABV54% 540ml 12 bts Bottled at: 13 Jun. / 15 Jun. / 24 Jun. / 1 Aug. / 11 Aug. / 27 Aug. (2 bts) / 12 Sep. / 13 Sep. / 27 Sep. / 4 Oct. / 17 Nov. 1982 HK$ 590,000-640,000 US$ 75,600-82,100 1246 1980 年五星牌貴州茅台 三大革命 Five-Star Kweichow Moutai Three Revolutions 1980 54 度 540ml 6 瓶 1980 年 4 月 4 月 3 日 4 月 12 日 4 月 19 日 8 月 30 日 9 月 ABV54% 540ml 6 bts Bottled at: Apr. / 3 Apr. / 12 Apr. / 19 Apr. / 30 Aug. / Sep. 1980 HK$ 330,000-380,000 US$ 42,300-48,800

鐵蓋 Lot 1248-1252 IRON BOTTLE CAP 1248 1989 年五星牌貴州茅台 鐵蓋 Five-Star Kweichow Moutai Iron Bottle Cap 1989 1983 年至 1986 年生產的五星牌茅台酒, 鋁制瓶蓋, 被稱為 鐵蓋茅台 因瓶身沒有標明度數, 又稱 無度茅台 該酒具有醬香味突出, 酒體醇厚飽滿, 回味陳香悠長, 空杯留香持久之特點 53 度 500ml 6 瓶 1989 年 7 月 25 日 11 月 21 日 (2 瓶 ) 11 月 29 日 12 月 10 日 12 月 25 日 ABV53% 500ml 6 bts Bottled at: 25 Jul. / 21 Nov. (2 bts) / 29 Nov. / 10 Dec. / 25 Dec. 1989 HK$ 132,000-220,000 US$ 17,000-28,300 Five-star brand Moutai published between 1983 and 1986. The bottle cap is made by aluminum, and being called Iron Bottle Cap Maotai. Since the bottle label did not indicate ABV%, it is also known as No ABV Moutai. The taste of the liquor has a butter flavor prominent, and the finish is full and long. Lot 1248 1249 1988 年五星牌貴州茅台 鐵蓋 Five-Star Kweichow Moutai Iron Bottle Cap 1988 53 度 500ml 6 瓶 1988 年 1 月 15 日 2 月 19 日 3 月 8 日 (2 瓶 ) 3 月 17 日 5 月 27 日 ABV53% 500ml 6 bts Bottled at: 15 Jan. / 19 Feb. / 8 Mar. (2 bts) / 17 Mar. / 27 May 1988 HK$ 144,000-240,000 US$ 18,400-30,800 Lot 1249

1250 1988 年五星牌貴州茅台 鐵蓋 ( 發 字組合) Five-Star Kweichow Moutai Iron Bottle Cap 1988 (Lucky 8 collection) 53 度 500ml 6 瓶 1988 年 7 月 28 日 (2 瓶 ) 8 月 8 日 8 月 28 日 (2 瓶 ) 9 月 18 日 ABV53% 500ml 6 bts Bottled at: 28 Jul. (2 bts) / 8 Aug. / 28 Aug. (2 bts) / 18 Sep. 1988 HK$ 144,000-250,000 US$ 18,400-32,100 Lot 1250 1251 1987 年五星牌貴州茅台 鐵蓋 Five-Star Kweichow Moutai Iron Bottle Cap 1987 53 度 500ml 6 瓶 1987 年 4 月 18 日 (2 瓶 ) 6 月 4 日 (2 瓶 ) 6 月 29 日 7 月 4 日 ABV53% 500ml 6 bts Bottled at: 18 Apr. (2 bts) / 4 Jun. (2 bts) / 29 Jun. / 4 Jul. 1987 HK$ 162,000-260,000 US$ 20,800-33,400 1252 80 年代五星牌貴州茅台 鐵蓋 Five-Star Kweichow Moutai Iron Bottle Cap 1980s 53 度 500ml 10 瓶 1987 年 7 月 16 日 (2 瓶 ) 6 月 29 日 7 月 28 日 10 月 5 日 1988 年 6 月 1 日 7 月 30 日 8 月 2 日 11 月 24 日 1989 年 ABV53% 500ml 10 bts Bottled at: 16 Jul. (2 bts) / 29 Jun. / 28 Jul. / 5 Oct. 1987 / 1 Jun. / 30 Jul. / 2 Aug. / 24 Nov. 1988 / c. 1989 HK$ 253,000-370,000 US$ 32,400-47,500 Lot 1251

1253 班瑞克 12 年紅鼎 4.5 升裝 BenRiach 12 4.5L 1256 格蘭格拉索 26 年 Glenglassaugh 26 1259 格蘭哥尼 34 年 Glengoyne 34 1262 格蘭烏妮 36 年 1970 Glenury Royal 36-1970 斯佩塞單一純麥威士忌 46 度 4500ml 全球限量 80 瓶 Speyside Single Malt ABV46% 4500ml Limited release of 80 bts HK$ 3,300-5,000 US$ 400-600 斯佩塞單一純麥威士忌 46 度 700ml 全球限量 8700 瓶 Speyside Single Malt ABV46% 700ml Limited release of 8700 bts HK$ 2,500-4,500 US$ 300-600 高地單一純麥威士忌 50 度 700ml 木桶編號 526 Highland Single Malt ABV50% 700ml Cask#526 HK$ 20,000-40,000 US$ 2,600-5,100 高地單一純麥威士忌 57.9 度 700ml Highland Single Malt ABV57.9% 700ml HK$ 6,200-8,500 US$ 800-1,100 1254 1257 1260 1263 班瑞克 12 年好望角海角風暴 格蘭格拉索 30 年 格蘭哥尼 33 年 格蘭烏妮 36 年 1968 BenRiach 12 Cape of Storms Glenglassaugh 30 Glengoyne 33 Glenury Royal 36-1968 斯佩塞單一純麥威士忌 48 度 750ml 全球限量 225 瓶木桶編號 70459 Speyside Single Malt ABV48% 750ml Limited release of 225 bts Cask#70459 斯佩塞單一純麥威士忌 44.8 度 700ml Speyside Single Malt ABV44.8% 700ml HK$ 3,300-5,000 US$ 400-600 高地單一純麥威士忌 56 度 700ml 木桶編號 9094 全球限量 2100 瓶 2 瓶 Highland Single Malt ABV56% 700ml Cask#9094 Limited release of 2100 bts 2bts 高地單一純麥威士忌 51.2 度 700ml 2 瓶 Highland Single Malt ABV51.2% 700ml 2bts HK$ 12,000-25,000 US$ 1,500-3,200 HK$ 5,000-7,000 US$ 600-900 HK$ 38,000-50,000 US$ 4,900-6,400 1255 班瑞克 16 年好望角海角風暴 BenRiach 16 Cape of Storms 斯佩塞單一純麥威士忌 48 度 750ml 全球限量 195 瓶木桶編號 12112 Speyside Single Malt ABV48% 750ml Limited release of 195 bts Cask#12112 HK$ 7,500-9,000 US$ 1,000-1,200 1258 格蘭格拉索原酒系列 33 年 1978 Glenglassaugh 33-1978 The Chosen Few Mhairi McDonald 斯佩塞單一純麥威士忌 46.3 度 700ml 全球限量 275 瓶 Speyside Single Malt ABV46.3% 700ml Limited release of 275 bts HK$ 4,000-6,000 US$ 500-800 1261 格蘭哥尼 37 年 Glengoyne 37 高地單一純麥威士忌 47.6 度 700ml 全球限量 246 瓶木桶編號 975 Highland Single Malt ABV47.6% 700ml Limited release of 246 bts Cask#975 HK$ 40,000-60,000 US$ 5,100-7,700

1264 布羅拉 30 年 (2002-2013) Brora 30 (2002-2013) 1265 格蘭蓋瑞 32 年 1971 Glen Garioch 32-1971 1267-1268 高原騎士 40 年 Highland Park 40 高地單一純麥威士忌 Brora 30-2002 52.4 度 700ml Brora 30-2003 55.7 度 700ml Brora 30-2004 56.6 度 700ml Brora 30-2005 56.3 度 700ml Brora 30-2006 55.7 度 700ml Brora 30-2007 55.7 度 700ml Brora 25-2008 56.3 度 700ml Brora 30-2009 53.2 度 700ml Brora 30-2010 54.3 度 700ml Brora 32-2011 54.7 度 700ml Brora 35-2012 48.1 度 700ml Brora 35-2013 49.9 度 700ml 12 瓶 Highland Single Malt Brora 30-2002 ABV52.4% 700ml Brora 30-2003 ABV55.7% 700ml Brora 30-2004 ABV56.6% 700ml Brora 30-2005 ABV56.3% 700ml Brora 30-2006 ABV55.7% 700ml Brora 30-2007 ABV55.7% 700ml Brora 25-2008 ABV56.3% 700ml Brora 30-2009 ABV53.2% 700ml Brora 30-2010 ABV54.3% 700ml Brora 32-2011 ABV54.7% 700ml Brora 35-2012 ABV48.1% 700ml Brora 35-2013 ABV49.9% 700ml 12bts 高地單一純麥威士忌 44.6 度 700ml 木桶編號 2041 Highland Single Malt ABV44.6% 700ml Cask#2041 HK$ 7,500-9,500 US$ 1,000-1,200 高地單一純麥威士忌 48.3 度 700ml 6 瓶 Highland Single Malt ABV48.3% 700ml 6bts HK$ 100,000-150,000 US$ 12,800-19,200 HK$ 110,000-130,000 US$ 14,100-16,700 1266 高原騎士 25 年第一版大頭瓶 Highland Park 25 (Old Label ) 高地單一純麥威士忌 53.5 度 700ml 3 瓶 Highland Single Malt ABV53.5% 700ml 3bts HK$ 18,000-24,000 US$ 2,300-3,100 1269 高原騎士 50 年 Highland park 50 高地單一純麥威士忌 44.8 度 700ml 全球限量 275 瓶 Highland Single Malt ABV44.8% 700ml Limited release of 275 bts HK$ 125,000-180,000 US$ 16,000-23,100

1270 1273-1274 汝拉 1974 林可伍德 26年 1981 (紅酒桶, 波特桶, 蘭姆酒桶) Isle of Jura Vintage 1974 高地單一純麥威士忌 44.5 度 700ml 全球限量 658 瓶 1瓶 Highland Single Malt ABV44.5% 700ml Limited release of 658 bts HK$ 8,000-10,000 US$ 1,000-1,300 Linkwood 26-1981(Red Wine Finish, Port Finish, Rum Finish) 斯佩塞單一純麥威士忌 55.5 /56.9 /54.5 度 500ml 3瓶 Speyside Single Malt ABV55.5 /56.9 /54.5% 500ml 3bts HK$ 6,200-8,000 US$ 800-1,000 1271 1275 利摩坊 22年 羅斯班克 30年水晶瓶裝 1975 Littlemill 22 Rosebank Decanter 30-1975 低地單一純麥威士忌 50.6 度 700ml 全球限量 30 2瓶 低地單一純麥威士忌 54.8 度 700ml 1瓶 Lowland Single Malt ABV50.6% 700ml Limited release of 301 bts 2bts HK$ 4,000-6,000 US$ 500-800 1272 林利斯哥 30年 1973 Linlithgow 30-1973 低地單一純麥威士忌 59.6 度 700ml 1瓶 Linlithgow Single Malt ABV59.6% 700ml HK$ 6,200-8,000 US$ 800-1,000 Lowland Single Malt ABV54.8% 700ml HK$ 22,000-25,000 US$ 2,800-3,200 任何東西過量都是有害的 但好的 威士忌永遠不夠 馬克 吐溫 Too Much of anything is bad,but too much good whisky is barely enough. Mark Twain

1276 1278 1282 絕響 1960 湯馬丁 1982 雲頂 32 年 The Last Drop Finest Aged 1960 Tomatin 1982 Springbank 32 蘇格蘭調和式威士忌 52 度 700ml 全球限量 1347 瓶 1瓶 斯佩塞單一純麥威士忌 57 度 700ml 全球限量 560 瓶 木桶編號 92 6瓶 坎貝爾鎮單一純麥威士忌 46 度 700ml 1瓶 Scotland Blended Malt ABV52% 700ml Limited release of 1347 bts HK$ 22,000-26,000 US$ 2,800-3,300 Speyside Single Malt ABV57% 700ml Limited release of 560 bts Cask#92 6bts Campbeltown Single Malt ABV46% 700ml HK$ 7,500-9,500 US$ 1,000-1,200 HK$ 26,000-35,000 US$ 3,300-4,500 1277 1283 湯馬丁 40年 1279-1280 Tomatin 40 湯馬丁 1997 建廠100週年紀念限量版 Springbank Millennium Collection Full Set 斯佩塞單一純麥威士忌 42.9 度 700ml 全球限量 1614 瓶 1瓶 Tomatin 1997-100th Anniversary Distillery Celebration Edition 坎貝爾鎮單一純麥威士忌 46/46/46/40.1/40.1/40.5 度 700ml 6瓶 Speyside Single Malt ABV42.9% 700ml Limited release of 1614 bts 斯佩塞單一純麥威士忌 56.5 度 700ml 全球限量 276 瓶 4瓶 HK$ 6,000-8,000 Speyside Single Malt ABV56.5% 700ml Limited release of 276 bts 4bts US$ 800-1,000 雲頂 千禧年紀念版 全套 Campbeltown Single Malt ABV46/46/46/40.1/40.1/40.5% 700ml 6bts HK$ 110,000-150,000 US$ 14,1 00-19,200 HK$ 4,500-6,500 US$ 600-800 1281 圖力巴登 1964原酒 Tullibardine - 1964 高地單一純麥威士忌 44.2 度 700ml 1瓶 Highland Single Malt ABV44.2% 700ml HK$ 10,000-12,000 US$ 1,300-1,500 Lot 1283

歐肯特軒 Lot 1284-1286 AUCHENTOSHAN Auchentoshan 在蘇格蘭的方言蓋爾語中是指 原野的一角, 非常適切地傳達了酒廠所處的蘇格蘭低地區域所擁有的鄉村景致 該酒廠創立於西元 1823 年, 位在蘇格蘭第一大城 - 格拉斯哥, 坐落於低地克伯屈山丘下, 俯瞰著潔淨無染的克萊德河, 得天獨厚的地理位置, 孕育出 Auchentoshan 獨樹一格的完美酒質 在大家耳熟能詳的蘇格蘭六大威士忌產區中, 低地區是蘇格蘭威士忌合法釀酒廠的搖籃, 曾經擁有全蘇格蘭最多的蒸餾廠 卻也是現存酒廠最少的產區 已故的威士忌名家 MichaelJackson 對 Auchentoshan 的評價 : 它提供了一個可以體會微妙低地風格的絕佳範例, 也讓人們有一個絕佳的機會, 品嚐幾十年以來威士忌在格拉斯哥發展演進的顛峰 若想要品味真正傳統蘇格蘭的威士忌風味, 從低地區酒款下手將會是一個很好的選擇, 而 Auchentoshan 便是最能完美的體現出低地區特色的威士忌 有別於其它蘇格蘭蒸餾廠的 2 次蒸餾,Auchentoshn 堅持以 1823 年即使用的傳統 3 次蒸餾精釀工法, 一百八十餘年至今仍堅守用 3 個不同的蒸餾器分別蒸餾 威士忌蒸餾工序的本質是 篩選, 因此 3 次蒸餾會比 2 次蒸餾所擷取到的範圍更精煉 純粹, 酒精濃度也較高 它將雜質分離, 賦予威士忌獨特而精緻的生命力, 酒體純淨, 芳香甘醇的風味更顯得細緻 優雅 3 次蒸餾的威士忌原酒酒體往往更容易受到陳儲時橡木桶的影響 Auchentoshan 為此特別邀請專家親自嚴格把關每一個陳年用的橡木桶, 這些被精心挑選出的橡木桶被一一編號 標明內裝原酒的蒸餾日期以及橡木桶的形式與種類 同時酒廠經理在陳年期間中也會定期了解木桶中酒質的變化, 並在鑑定後親自在桶上簽名, 代表了 Auchentoshan 對威士忌的品質保證 本次拍賣會中,Auchentoshan 50 年無疑是本次拍賣酒單中的亮點 這款由歐肯特軒第 479 號 Oloroso 雪莉桶自 1957 年 4 月 15 日星期一開始裝桶, 超過五十多年漫長的歲月, 酒廠創建一百八十年來發售年份最早的限量酒款, 全球限量 171 瓶 In the Scottish Gaelic dialect, Auchentoshan means the corner of the field. The term adequately expresses the village landscape of Scotland s Lowland region, where the distillery is located. Established in 1823, the distillery is situated in Glasgow, the largest city in Scotland. Located in the Lowlands at the foot of Kilpatrick Hills, it overlooks the clean and unpolluted Clydebank. Thanks to such an exceptional gifted geographic location, Auchentoshan is able to breed alcohol with a unique and perfect quality. Among the six well-known major regions that produce whiskies in Scotland, the Lowlands has the fewest distilleries, and the Auchentoshan whisky being an epitome of whiskies from the region. Michael Jackson, a renowned whisky expert, commented on Auchentoshan saying, it provides a perfect example for experiencing the delicate Lowlands style. It also provides a wonderful occasion for tasting the best whisky in the development and evolution of the genre of alcohol in Glasgow for several decades. In fact, the Lowlands used to be the region with the most distilleries in the entire Scotland, and acts as a cradle for legal distilleries of Scottish whiskies. If you like the traditional taste of the Scottish whisky, Lowland whiskies are a good choice, and the Auchentoshan being the best of the Lowlands. Differing from other distilleries in Scotland, where double distillation is employed, Auchentoshan stays to the traditional triple distillation and fermentation techniques that it has been adopted since 1823. After more than one hundred and eighty years, the brand still persists in using three different distillers for the three brewing procedures respectively today. A key step in the whisky distillation process is filtering, and with triple distillation, one obtains more condensed and purer alcohol with a higher abv than alcohols made using double distillation. The method allows for separating impurities, endowing a unique and subtle vitality to the whisky whose body is pure and whose aromatic and sweet flavor reveals to be even more exquisite and graceful. In the stage of aging, the body of whisky made through triple distillation is often more susceptible to the influence of the barrel. To resolve this problem, Auchentoshan especially invites specialists to severely select each barrel for aging. The carefully selected barrels are then numbered one after another; the date of brewing of the original alcohol inside, as well as the form and the kinds of barrels used are all indicated. Meanwhile, during the period of aging, the distillery manager would regularly check the alterations of the quality of the alcohol and sign on the barrels after examinations, representing a guarantee on the quality. In the current sale, Auchentoshan 50 Years is undoubtedly a highlight of this catalogue, with a limited release of 171 bottles worldwide. The Auchentoshan No. 479 was aged in Oloroso Sherry Casks on Monday, the 15th, April, 1957 and the alcohol has undergone a more than five decades of aging. This edition is one of the first whiskies released by the distillery since its foundation one hundred and eighty years ago.

1284 歐肯特軒 50 年 - 1957 Auchentoshan 50-1957 低地單一純麥威士忌 50 度 700ml 全球限量 144 瓶木桶編號 480 Lowland Single Malt ABV50% 700ml Limited release of 144 bts Cask#480 HK$ 25,000-40,000 US$ 3,200-5,100 1285 歐肯特軒 1977 Auchentoshan 1977 低地單一純麥威士忌 49 度 700ml 全球限量 240 瓶 3 瓶 Lowland Single Malt ABV49% 700ml Limited release of 240 bts 3bts HK$ 16,000-35,000 US$ 2,100-4,500 Lot 1285 1286 歐肯特軒 1978 Auchentoshan 1978 低地單一純麥威士忌 53.4 度 700ml 全球限量 480 瓶 6 瓶 Lowland Single Malt ABV53.4% 700ml Limited release of 480 bts 6bts HK$ 33,000-50,000 US$ 4,200-6,400 Lot 1284

格蘭花格 Lot 1287-1307 GLENFARCLAS Glenfarclas 是蘇格蘭酒廠中屬於第二古老家族擁有且經營的酒廠 原始的酒廠由佃農羅伯特 海 (RobertHay) 成立於 1836 年,1865 年由約翰 格蘭特 (John Grant) 和他的兒子喬治 格蘭特 (George Grant) 接手買下, 並成立格蘭特 (J & G Grant) 公司 處於酒廠密度如此之高的斯佩賽區, 格蘭花格能以家族經營的姿態至今屹立不搖, 確實是有其特殊之處的 其酒廠坐落在貝里詩 (Ben Rinnes) 山腳下, 在冬天覆蓋的白雪融化後, 帶著土地裡石楠和泥煤味滲入地底, 再以湧泉形式冒出表面的泉水是釀造格蘭花格最重要的山泉水 再者其擁有全斯佩賽最大的銅製蒸餾器, 配合在地產的優質大麥, 最後則是他們對於使用西班牙雪莉陳年木桶的堅持與傳統釀造古法, 造就了與眾不同的格蘭花格 在其他蒸餾廠都陸續被各大財團並購瓜分 逐漸失去獨立自主性的大環境下, 仍堅持由家族獨立經營, 遵循著真正的傳統造酒方法, 捍衛著屬於賽佩斯的風格, 並充分的傳達了雪莉桶的特色與風味, 讓許多威士忌饕客對於他們的雪莉桶系列都無法抗拒 2007 年, 格蘭花格集齊了從 1952 年到 1994 年所有年份, 每年一瓶的精選酒款, 名為 格蘭花格家族桶 (The FamilyCasks), 這個系列是威士忌饕客們的夢幻酒款之一 在此次拍賣威士忌酒單中, 除了數瓶 格蘭花格家族桶 系列酒之外, 還有許多格蘭花格的珍藏老酒, 是喜愛威士忌老酒的收藏家絕對, 不可錯過的珍稀收藏逸品! The Glenfarclas distillery is the second oldest family owned and operated distillery among all Scottish distilleries. The original distillery was founded in 1846 by a farmer, Robert Hay. In 1865 John Grant and his Son George Grant took over and established the company J & G Grant. Even though the Glenfarclas distillery is located in Speyside, alongside many competitive distilleries, this family-run business has succeeded in establishing itself an unwavering status in the market today. This indeed testifies to Glenfarclas unique advantages. First of all, the distillery is located at the foot of Mount Ben Rinnes, providing natural spring water for the distillery to use as its water source. Every year, as the thick layers of winter snow melt away, the water penetrates and deposits into the ground soil, adding a robust scent of photinia and peat. From the enriched ground comes out its natural spring water, carrying with it this unique and special taste. Second, the Glenfarclas has the largest copper still in the entire Speyside. This, in conjunction with its commitment to using high quality local barley, traditional techniques and the finest Spanish Sherry Oak, is what gives Glenfarclas its unparalleled competitive advantage. Despite the overall climate where major corporate entities continue to buy out the distilleries, Glenfarclas, against all odds, firmly upholds its commitment to being an independent family business. It takes pride in producing Highland Single Malt Scotch Whiskies in the traditional Speyside manner, with a heavy Sherry influence. This is one of the many reasons why the unique flavor of their Oak Sherry series is so irresistible to many connoisseurs around the globe. In 2007, Glenfarclas launched the Family Cask series, a special collection of the best single casks from the distillery s warehouses. It comprised of 43 single cask bottles, with one cask from every year, ranging from 1952 to 1994. This is by all means a dream collection for many whiskey lovers. Several bottles from the Family Casks are included in the whiskey listings of this auction, as well as other rare collection of Glenfarclas whiskies any seasoned whiskey collectors would simply not want to miss.

1287-1292 1296-1297 1301 1304-1305 格蘭花格 59 年 - 1953 格蘭花格 52 年 - 1955 格蘭花格原酒 105 格蘭花格龍騰版限量 Glenfarclas 59-1953 Glenfarclas 52-1955 Glenfarclas 105 Cask Strength Glenfarclas Family Cask 斯佩塞單一純麥威士忌 49.6 度 700ml 全球限量 408 瓶木桶編號 1674 Speyside Single Malt ABV49.6% 700ml Limited release of 408 bts Cask#1674 HK$ 30,000-50,000 US$ 3,800-6,400 1293 斯佩塞單一純麥威士忌 46.1 度 700ml 木桶編號 2211 6 瓶 Speyside Single Malt ABV46.1% 700ml Cask#2211 6bts HK$ 120,000-160,000 US$ 15,400-20,500 1298-1299 斯佩塞單一純麥威士忌 60 度 1000ml 全球限量 493 瓶 2 瓶 Speyside Single Malt ABV60% 1000ml Limited release of 493 bts 2bts HK$ 40,000-60,000 US$ 5,100-7,700 1302-1303 斯佩塞單一純麥威士忌 700ml 13 瓶 Speyside Single Malt 700ml 13bts 1995 Cask # 6775 ABV 58.8% Limited Release of 248 bts 1990 Cask # 5105 ABV 56.4% Limited Release of 589 bts 1967 Cask # 6344 ABV 56.8% Limited Release of 489 bts 1967 Cask # 5111 ABV 56.1% Limited Release of 58 bts 1970 Cask # 2029 ABV 56.2% Limited Release of 149 bts 1989 Cask # 12990 ABV 55.6% Limited Release of 630 bts 1989 Cask # 11046 ABV 56.6% Limited Release of 591 bts 1989 Cask # 11187 ABV 56.8% Limited Release of 194 bts 1991 Cask # 5674 ABV 58.3% Limited Release of 592 bts 1994 Cask # 3998 ABV 57.7% Limited Release of 287 bts 1963 Cask # 180 ABV 42.4% Limited Release of 135 bts 1958 Cask # 2067 ABV 43.6% Limited Release of 165 bts 1990 Cask # 5104 ABV 55.9% Limited Release of 484 bts 格蘭花格 105 龍騰版 3 升裝 Glenfarclas 105 3L. 格蘭花格 1956 Glenfarclas 1956 格蘭花格 1963( 龍標限量版 ) Glenfarclas 1963 HK$ 150,000-180,000 US$ 19,200-23,100 斯佩塞單一純麥威士忌 60 度 3000ml 6 瓶 Speyside Single Malt ABV60% 3000ml 6bts HK$ 20,000-25,000 US$ 2,600-3,200 1294-1295 格蘭花格 1953 Glenfarclas 1953 斯佩塞單一純麥威士忌 49.6 度 700ml 木桶編號 1675 6 瓶 Speyside Single Malt ABV49.6% 700ml Cask#1675 6bts HK$ 150,000-180,000 US$ 19,200-23,100 斯佩塞單一純麥威士忌 47.3 度 700ml 木桶編號 1758 6 瓶 Speyside Single Malt ABV47.3% 700ml Cask#1758 6bts HK$ 120,000-160,000 US$ 15,400-20,500 1300 格蘭花格致敬 1968 Glenfarclas 1968 - My tribute 高地單一純麥威士忌 54.4 度 700ml 全球限量 175 瓶編號 : 120 木桶編號 5241 Highland Single Malt ABV54.4% 700ml Limited release of 175 bts(#120) Cask#5241 HK$ 20,000-40,000 US$ 2,600-5,100 斯佩塞單一純麥威士忌 46.5 度 700ml 全球限量 163 瓶木桶編號 176 6 瓶 Speyside Single Malt ABV46.5% 700ml Limited release of 163 bts Cask#176 6bts HK$ 110,000-150,000 US$ 14,100-19,200 Lot 1302-1303 Lot 1306-1307 1306-1307 格蘭花格 1958 ( 龍標限量版 ) Glenfarclas 1958 斯佩塞單一純麥威士忌 43.6 度 700ml 全球限量 165 瓶木桶編號 2067 6 瓶 Speyside Single Malt ABV43.6% 700ml Limited release of 165 bts Cask#2067 6bts HK$ 190,000-220,000 US$ 24,400-28,200

日本威士忌蒸餾廠分布圖 Japanese Whisky Distilleries Map NIKKA 三得利集團的創始人鳥井信治郎先生在1923年京都郊外的山 崎建立了日本第一個麥芽威士忌蒸餾廠 邁出了釀造日本威 士忌的第一步 另一個為日本威士忌做出巨大貢獻的是竹鶴 正孝先生 他在為鳥井工作了一段時間後 由於在製作威士 忌的理念上的分歧 竹鶴于1934年離開了三得利公司并在北 海道的余市接手了一家釀酒廠後開始經營Nikka釀酒公司 并在這個最接近蘇格蘭高低地理條件的地方開始製作他心目 中的日本威士忌 與純正蘇格蘭威士忌同樣質樸及嚴謹 另 一方面 鳥井信治郎在推出第一支日本國產威士忌 白札 後 發現以蘇格蘭技法釀造出來 具有強烈煙燻味的威士 忌並不適合東方消費者 由此 鳥井改變了威士忌的製作方 法 并推出了口感更加溫潤順口 煙燻味大大降低 更加適 合東方人口味的 角瓶 威士忌 在市場上獲得巨大成功 成為眾多亞洲酒民的心頭好 現時日本除了Suntory Asahi(Nikka)及Kirin這三大酒類生產商 外 亦有不少清酒酒造有生產威士忌 made great contributions to the development of the whisky industry in japan. Taketsuru worked for Torii for a period of time, but parted ways due to differences in ideas. Therefore, Takesuru left Suntory in 1934 to pursue his whisky dream in Yoichi, Hokkaido. He took over an existing brewery and established his own Nikka Whisky Co., making his ideal Japanese Whisky: simple and rigorous, like a pure Scotch whisky. The Yamazaki first came out with the Shirofuda, but soon found that its strong smoky flavor did not fit well in the Asian market, thus the formula was altered and the Kakubin was produced. The Kakubin had a much less smoky flavor that was more suitable for the Asian taste, and it was a great success and became a favorite of many. Apart from the three major wine producers in Japan, Suntory, Asahi(Nikka), and Kirin, there are also many sake shuzo or breweries that make their own whiskies as well. Japanese Whisky The founder of the Suntory Group, Mr. Shinjiro Torii established Japan s first whisky distillery in Yamazaki, marking the start of the Japanese whisky history. Masataka Taketsuru is also one who s Hakushu 白州 (1973-) Hanyu 羽生 (1946-2000) Hibiki 響 (1989-) Karuizawa 輕井澤 (1955-2011) 日本威士忌 Lot 1301-1362 N I K K A Nikka 日華 (1934-) Sapporo 札幌 (1933-) Yamazaki 山崎 (1984-)

山崎 Lot 1308-1313 YAMASAKI 日本第一家蒸餾廠山崎蒸餾酒廠於 1923 年成立,1924 年投產 山崎位於大阪郊區一座竹林遍佈的小山腳下, 離京都也很近 茶道大師三船敏郎的茶室就在這裡, 所以不難猜到這個地區以水質好而聞名 山崎地區自古擁有 水生野 的稱呼, 水生野 意為在大自然曠野中湧出的水源, 而 離宮之水 即是其中之一, 它的質純清洌, 被日本環境廳 ( 相當於台灣環保署 ) 選為日本名川百例之一 製作威士忌的重要因素就是水源, 由此可知山崎蒸餾廠得天獨厚的自然環境 為了保護酒廠珍貴的水源地, 他們甚至將周遭的森林地都全數買下作為酒廠的資產, 確保並維護水源的質地 山崎蒸餾廠使用許多創新的木桶來熟成威士忌, 例如 : 竹製酒桶 梅子的酒桶等等 最有名的就是用日本橡木所作成的 水楢桶, 此酒桶所熟成出的威士忌都帶有非常清新的木桶香氣, 在調和式威士忌中混合一些水猶桶的原酒, 更能增加威士忌複雜層次的口感 The Yamazaki Distillery is a Japanese distillery that opened in 1923, and was Japan s first commercial whisky distillery. The distillery is located in Shimamoto, Osaka, in the outskirts of Japan s ancient capital of Kyoto. The region is known for quality water, even Toshiro Mifune, a renowned Japanese tea ceremony master, opened a tearoom in the same region as well. As water is an important aspect for making good whisky, the Yamazaki distillery bought the surrounding forest to protect its water source, and to maintain the quality and texture of the water. The Yamazaki distillery uses many innovative casks in its aging process, and the most famous being the Mizunara barrel, a type of cask made with local Japanese oak. The Mizunara is very porous; therefore much of the whisky is lost through evaporation or leakage. This phenomenon creates whiskies with a higher level of alcohol by volume, as well as a unique taste not found using other types of casks. This is one of the reasons why the Suntory s Hibiki series has won numerous awards in the international whisky competitions worldwide.

1308 山崎 1984 ( 半島酒店 ) Yamazaki Peninsula 1984 日本單一純麥威士忌 62 度 700ml 全球限量 314 瓶編號 : 146 木桶編號 WM0044 Japanese Single Malt ABV62% 700ml Limited release of 314 bts (#146) Cask#WM0044 HK$ 12,000-20,000 US$ 1,500-2,600 1310 山崎 35 年 The Yamazaki 35 日本單一純麥威士忌 43 度 ml 全球限量 200 瓶 2 瓶 Japanese Single Malt ABV43% ml Limited release of 150 bts 2bts HK$ 140,000-180,000 US$ 17,900-23,100 1311 山崎水楢桶 Yamazaki Mizunara 日本單一純麥威士忌 50 度 700ml 6 瓶 Japanese Single Malt ABV50% 700ml 6bts HK$ 38,000-50,000 US$ 4,900-6,400 1309 山崎 1984 Yamazaki 1984 日本單一純麥威士忌 48 度 700ml 全球限量 2500 瓶編號 : 1486 Japanese Single Malt ABV48% 700ml Limited release of 250 bts (#1486) HK$ 12,000-20,000 US$ 1,500-2,600 1312 山崎 25 年 Yamazaki 25 日本單一純麥威士忌 43 度 700ml 6 瓶 Japanese Single Malt ABV43% 700ml 6bts HK$ 45,000-60,000 US$ 5,800-7,700 Lot 1309 Lot 1310 Lot 1312

1313 1314-1315 山崎 50年 三得利 滾石 50周年紀念版 The Yamazaki 50 Suntory - The Rolling Stones 50th Anniversary Whisky 日本單一純麥威士忌 53 度 700ml 全球限量 50 瓶 1瓶 Japanese Single Malt ABV53% 700ml Limited release of 50 bts HK$ 180,000-220,000 US$ 23,1 00-28,200 日本調和式威士忌 50 度 700ml 全球限量 150 瓶 1瓶 Japanese Blended Malt ABV50% 700ml Limited release of 150 bts HK$ 48,000-60,000 US$ 6,200-7,700

羽生 Hanyu Ichiro Malt 1316 羽生 23 年原酒 Hanyu Ichiro Malt Cask Strength - 23 日本單一純麥威士忌 700 度木桶編號 58 Japanese Single Malt ABV700% Cask#58 HK$ 5,000-7,000 US$ 600-900 1317 羽生撲克牌系列 Hanyu Ichiro s Malt Card Series 日本單一純麥威士忌 56.1/59.2/58.6/58.6/53.1/57.3/58/57.9/61.1/54. 8/57.1/54.9 度 700ml 全球限量 570 瓶編號 : 101 全球限量 595 瓶編號 : 503 全球限量 585 瓶編號 : 169 全球限量 36編號 : 60 全球限量 329 瓶編號 : 70 全球限量 592 瓶編號 : 65 全球限量 597 瓶編號 : 109 全球限量 238 瓶編號 : 19 全球限量 417 瓶編號 : 269 全球限量 66編號 : 75 全球限量 737 瓶編號 : 347 全球限量 570 瓶編號 : 193 木桶編號 378/529/1303/60/466/401/9108/9020/7020/9031/9302/527 12 瓶 Japanese Single Malt ABV56.1/59.2/58.6/58.6/53.1/57.3/58/57.9/ 61.1/54.8/57.1/54.9% 700ml 101 of 570/503 of 595/169 of 585 /60 of 361/70 of 329/65 of 592/109 of 597/19 of 238/269 of 417/75 of 661/347 of 737/193 of 570 Cask#378/529/1303/60/466/401/9108/9020/7020/9031/9302/ 527 12bts HK$ 62,000-85,000 US$ 7,900-10,900 白州 Hakushu 1318 白州 1989 Hakushu 1989 日本單一純麥威士忌 62 度 700ml 木桶編號 9O 50021 Japanese Single Malt ABV62% 700ml Cask#9O 50021 HK$ 6,500-8,500 US$ 800-1,100 Lot 1318

響 Lot 1319-1322 HIBIKI 1319 響 30 年 Hibiki 30 日本調和式威士忌 43 度 700ml Japanese Blended Malt ABV43% 700ml HK$ 7,500-9,500 US$ 1,000-1,200 三得利株式會社鳥井信治郎於 1899 年, 初期主要事葡萄酒生產和銷售, 後在 1921 年正式成立株式社屋 鳥井深信威士忌在日本大有市場, 到了 1923 年, 在京都郊山崎, 建立日本首家威士忌蒸, 成就日本洋酒釀造的里程碑 他在有 水生野 之稱的著名水源地 位於京都郊外的山崎, 成為三得利威士忌的起源地 1929 年推出全日本首瓶威士忌 白札 1973 年, 三得利在南阿爾卑斯甲斐駒岳的山腳 白州又新建了一處蒸餾所 憑借從這兩個釀造威士忌的理想之鄉釀製出來的舉世無雙的多彩原液, 加上高超的技術, 三得利為人們帶來了單一麥芽威士忌 山崎 白州, 以及合威士忌 響 本次的拍品 響 30 年 在 國際烈酒大賽 (ISC) 歷史上首次連續 3 年 總共第 4 次獲得最高大獎, 在具有世界權威性的酒類競賽中, 三得利威士忌的各個品牌也屢屢獲獎 響 35 年頂級威士忌特別限定版, 由三得利首席調酒師輿水精一特別從三得利豐富的酒藏中精選酒齡 35 年以上, 甚至長達 46 年的嚴選超長期熟成的麥芽原酒與熟成 35 年以上的秘藏穀物原酒調配而成, 每瓶 700 毫升, 限量 150 瓶 三得利響 35 年威士忌的瓶身, 由位於日本瓷器發源地 佐賀縣有田町, 享譽工藝界 400 年的柿右衛門第十四代掌門人酒井田柿右衛門精心製作 柿右衛門的三大特徵為濁手 色繪 ( 白瓷的彩繪技法 ) 三得利響 35 年的瓶身即是以招牌的 濁手 暖乳白色為底, 並繪上盛開在九重山腳的山杜鵑 瓶身形狀像是日本茶道使用的研磨道具, 瓶底與瓶頸部分則繪有做為亮點的織紋圖案 Established in 1899 by Shinjiro Torii, the Suntory Holdings limited began its initial stages producing and selling well, and later founded the Kotobukiya Limited in 1921. Chairman Torii strongly believed that there was a substantial market for Whisky in Japan and built Japan s first distillery, Yamazaki, in the outskirts of Kyoto in 1923. Chairman Torii had chosen Yamazki the birthplace of Suntory Whisky, for its distillery because the region was known for its clean water since ancient times. In 1929, Suntory introduced its first whiskey called the Shirofude, meaning White Label. Then in 1973, Suntory established another distillery at the foot of Mount Kaikomagatake in the Japanese Southern Alps. Suntory refined its distillery techniques at the two sites and developed extraordinary whiskies such as the Yamazaki and Hakushu single malt whiskies, and the Hibiki blended whisky. The Hibiki 30 years, available this auction as Lot 1319, has won first place in the International Spirits Challenge (ISC) for three years in a row, its fourth award from the ISC, as well as winning many other awards from major international liquor competitions worldwide. Hibiki 35 Year Old Limited Edition with Sakaida Kakiemon XIV Decantor - a sophisticated vatted whiskey and a masterly blend by Suntory Chief Blender, Seiichi Koshimizu, from ultra-aged key malts that have been matured between 35 and 46 years. Each bottle is 700ml, only 150 bottle available. The decanter for Hibiki 35 Year Old Limited Edition is an artistic masterpiece created by Japan s national treasure, Sakaida Kakiemon XIV, at Arita, Saga prefecture, the cradle of Japanese porcelain art. Sakaida Kakiemon XIV is the 14th generation of Kakiemon family, that boasts an impressive family linage of 400 years of exquisite craftsmanship and mater artistry. The design on the porcelain decanter incorporates the characteristic Kakiemon enamel color overglaze (iroe) technique to feature a wild Kuzyuyama azalea against the milky white (nigoshide) background. The flower s delicate pattern and red hue creates a perfect balance to its soft white background and makes a stunning visual impression. The decanter s shape is reminiscent of the grinding tools used in the traditional Japanese tea ceremony. Accented with a unique weave-like pattern painted atop and at the bottom, the modern iroe design gracefully complements this elegant whisky. 1320-1322 響 35 年十四代酒井田柿右衛門限量版 Hibiki 35 Limited Edition Sakaida Kakiemon XIV Decanter 日本調和式威士忌 45 度 700ml 全球限量 150 瓶 Japanese Blended Malt ABV45% 700ml Limited release of 150 bts HK$ 95,000-120,000 US$ 12,200-15,400 Lot 1319 Lot 1320-1322

1323 1324 日華 威士忌 34年 札幌 樫樽原酒1990 NIKKA Whisky 34 Sapporo 1990 Cask Strength 日本調和威士忌 45 度 700ml 全球限量 9800 瓶 編號 390 1瓶 日本單一純麥威士忌 59度 700ml 木桶編號 1196 2瓶 Japanese Blended Malt ABV45% 700ml Limited release of 9800 bts (#390) Japanese Single Malt ABV59% 700ml Cask#1196 2bts HK$ 25,000-40,000 HK$ 2,600-5,000 US$ 3,200-5,1 00 US$ 300-600 1325 札幌 樫樽原酒1990 Sapporo 1990 Cask Strength 日本單一純麥威士忌 59 度 700ml 木桶編號 649 5瓶 Japanese Single Malt ABV59% 700ml Cask#649 5bts HK$ 6,600-8,000 US$ 800-1,000 輕井澤 Karuizawa Lot 1326-1362

輕井澤 Lot 1326-1362 KARUIZAWA 輕井澤蒸餾所是在 1955 年由美露香集團所建立, 是日本最小的蒸餾廠, 精小又忠於傳統製成 位於日本的避暑勝地輕井澤, 四周被淺間山 鼻曲山 碓冰嶺等山峰所包圍, 夏季氣候涼爽 地處海拔約 1,000 米的高原地帶, 這裡落葉松和白樺樹生長茂盛, 水源純淨 自然環境宜人, 從 19 世紀末開始輕井澤就成為日本有代表性的避暑勝地而發展至今 美露香集團之前是以釀造紅酒為主,2007 年 Kirin Holdings Company,Limited( 麒麟控股株式會社 ) 將輕井澤與美露香買下 但遺憾的是,Kirin 並沒讓輕井澤恢復生產, 考量所有的因素, 製造成本太高是導致輕井澤難以在市場生存的主要原因 輕井澤是日本第一家使用從蘇格蘭進口發芽大麥, 也是與 Macallan 使用的同一品種 Golden Promise Barley, 使用的泥煤也是從蘇格蘭直接進口 不同於其它日本酒廠使用日本橡木, 酒廠 99% 都使用西班牙雪莉桶做熟成, 其餘是用波本桶與紅酒桶 堅持著進口原料與昂貴的酒桶, 雖然品質極優但酒廠的生產量卻不多, 總和這些因素, 導致其無法繼續生存,2000 年便停廠了 到目前為止, 整家酒廠只剩下少數酒桶可裝單桶原酒的酒, 整體風格華麗偏甜 1984 年份以前的老酒, 只剩下 80 桶, 其餘的皆於 1990 至 2000 間 這珍貴的單桶原酒, 基於喝掉一瓶就少一瓶的現況, 如果想要試試看輕井澤華麗飽滿的高貴特質, 最好趕快出手收藏! 本次拍賣會中, 有一款輕井澤 1960 單桶原酒, 是目前世界上出過最老的日本威士忌, 全球限量 4, 非常值得威士忌收藏家珍藏! The Karuizawa distillery, as its name infers is located in Karuizawa, Japan, is one of the smallest and most traditional distillery in Japan. It was established in 1955 by the Mercian Corporation, a corporation previously focused on producing red wine. Karuizawa is a region surrounded by a wide range of mountains. It sits at an altitude of about 1,000 meters on a high plateau, where larch and birch grow prosperously. The region also provides pure water, as well as a cool climate in the summer, making Karuizawa one of the most famous and go-to locations for a summer hideout in Japan. In 2007, the Kirin Holdings Company Ltd., bought out the Karuizawa distillery from the Mercian Corp., but unfortunately, Kirin did not resume production of the Karuizawa whisky due to its high production costs. Karuizawa was the first Japanese distillery that imported Golden Promise Barley from Scotland, the same kind the the Macallan distillery uses to produce its whiskies, and the peat is imported directly from Scotland as well. Japanese whiskies are traditionally ripened in Bourbon casks, but 99% of the Karuizawa whiskies use Sherry casks instead, and the rest using Bourbon and other wine casks. The Karuizawa distillery is persistent in using imported ingredients, expensive casks during its production process. Therefore, the Karuizawa distillery produced whiskies of very high quality but of very little quantity, causing the distillery to close down in 2000, unable to sustain on its own. There is only a very limited amount of single malt whiskies from the Karuizawa distillery available, seeing that before 1984, only 80 barrels were bottled and released. This auction, we proudly present a Karuizawa single malt whisky released in 1960, one of the oldest Japanese whiskies produced with a limited worldwide release of only 41 bottles. It is truly a gem to be added to your collection.

1326-1327 輕井澤 1985 ( 老虎標 ) Karuizawa 1985 (Tiger Label) 日本單一純麥威士忌 58.9 度 700ml 木桶編號 2541 Japanese Single Malt ABV58.9% 700ml Cask#2541 HK$ 4,500-6,500 US$ 600-800 1333 輕井澤 1977 Karuizawa Daily Dram Wait la Mazurka 1977 日本單一純麥威士忌 62.7 度 700ml 木桶編號 6994 Japanese Single Malt ABV62.7% 700ml Cask#6994 HK$ 12,000-18,000 US$ 1,500-2,300 1335 輕井澤能 29 年 Karuizawa Noh 29 日本單一純麥威士忌 58.8 度 700ml 木桶編號 8529 Japanese Single Malt ABV58.8% 700ml Cask#8529 HK$ 10,000-20,000 US$ 1,300-2,600 1328-1332 輕井澤 1981 ( 黑浪標 ) Karuizawa 1981 (Black Wave Label) 日本單一純麥威士忌 57.6 度 700ml 全球限量 17木桶編號 4659 Japanese Single Malt ABV57.6% 700ml Limited release of 171 bts Cask#4659 HK$ 5,000-7,000 US$ 600-900 1334 輕井澤 1977 藝妓標 Karuizawa Vintage 1977 Geisha Label 日本單一純麥威士忌 64.1 度 700ml 全球限量 169 瓶編號 : 153 木桶編號 3584 Japanese Single Malt ABV64.1% 700ml Limited release of 169 bts(#153) Cask#3584 HK$ 12,000-18,000 US$ 1,500-2,300 Lot 1326-1327 Lot 1334

1336-1341 1342 1343 輕井澤 45年黑色命之水 1967 輕井澤 45年白色命之水 1968 Karuizawa Black Aqua of Life Vintage 45 Karuizawa White Aqua of Life Vintage 45 日本單一純麥威士忌 59.6 度 700ml 全球限量 310 瓶 木桶編號 2725 1瓶 日本單一純麥威士忌 62 度 700ml 全球限量 137 瓶 木桶編號 1946 1瓶 輕井澤 輕井澤 輕井澤 輕井澤 Japanese Single Malt ABV59.6% 700ml Limited release of 310 bts Cask#2725 Japanese Single Malt ABV62% 700ml Limited release of 137 bts Cask#1946 HK$ 20,000-40,000 HK$ 21,000-40,000 US$ 2,600-5,1 00 US$ 2,700-5,1 00 1344 31年 32年 33年 33年 - 1981 1981 1980 1980 Karuizawa 31-1981 Karuizawa 32-1981 Karuizawa 33-1980 Karuizawa 33-1980 日本單一純麥威士忌 60.5/57.3/60.3/62.1 度 700ml 木桶編號 78/8461/4556/6431 4瓶 Japanese Single Malt ABV60.5/57.3/60.3/62.1% 700ml Cask#78/8461/4556/6431 4bts 輕井澤 30年 藝妓標 輕井澤 31年 藝妓標 Karuizawa 30 Geisha Label Karuizawa 31 Geisha Label 日本單一純麥威士忌 55.8/60.6 度 700ml 木桶編號 8606/3555 2瓶 Japanese Single Malt ABV55.8/60.6% 700ml Cask#8606/3555 2bts HK$ 20,000-40,000 US$ 2,600-5,1 00 HK$ 45,000-65,000 US$ 5,800-8,300 Lot 1336-1341 Lot 1342 Lot 1343 Lot 1344

1345 輕井澤 1970 及 1971 藝妓標 ( 雙嬌版 ) Karuizawa 1970 & 1971 Geisha Label (Two Beauties) 日本單一純麥威士忌 61.9/62.8 度 700ml 全球限量 433 瓶編號 : 6 / 全球限量 467 瓶編號 : 270 木桶編號 6227/7267 2 瓶 Japanese Single Malt ABV61.9/62.8% 700ml Limited release of 433 bts (#6) / Limited release of 467 bts (#270) Cask#6227/7267 2bts HK$ 30,000-50,000 US$ 3,800-6,400 1346 輕井澤 1981 藝妓標 Karuizawa 1981 Geisha Label 日本單一純麥威士忌 56.7 度 700ml 全球限量 440 瓶編號 : 390 木桶編號 2042 6 瓶 Japanese Single Malt ABV56.7% 700ml Limited release of 440 bts (#390) Cask#2042 6bts HK$ 30,000-50,000 US$ 3,800-6,400 1349 輕井澤原酒第二版 Karuizawa Cask Strength 2nd release 日本單一純麥威士忌 61.7 度 700ml 18 瓶 Japanese Single Malt ABV61.7% 700ml 18bts HK$ 22,000-42,000 US$ 2,800-5,400 1347-1348 輕井澤 1983 Karuizawa Vintage 1983 日本單一純麥威士忌 57.4 度 700ml 木桶編號 7524 6 瓶 Japanese Single Malt ABV57.4% 700ml Cask#7524 6bts HK$ 22,000-40,000 US$ 2,800-5,100 1350 輕井澤原酒第三版 Karuizawa Cask Strength 3rd release 日本單一純麥威士忌 61.7 度 700ml 18 瓶 Japanese Single Malt ABV61.7% 700ml 18bts HK$ 22,000-42,000 US$ 2,800-5,400 1351 輕井澤原酒第四版 Karuizawa Cask Strength 4th release 日本單一純麥威士忌 61.7 度 700ml 18 瓶 Japanese Single Malt ABV61.7% 700ml 18bt HK$ 22,000-42,000 US$ 2,800-5,400 Lot 1346

1352-1353 輕井澤相撲全系列 1981/1982/1983 相撲全景 1981/1983 Karuizawa Honor Sumo Triple Set & Cask Strength Sumo 1981 & 1983 日本單一純麥威士忌 56.9/57.9/58.4 度 700ml 木桶編號 818/4971/3408 5 瓶 Japanese Single Malt ABV56.9/57.9/58.4% 700ml Cask#818/4971/3408 5bts HK$ 25,000-50,000 US$ 3,200-6,400 1354-1357 輕井澤 1983 Karuizawa 1983 日本單一純麥威士忌 1700ml 木桶編號 8333 6 瓶 Japanese Single Malt 1700ml Cask#8333 6bt HK$ 27,000-35,000 US$ 3,500-4,500 1358-1361 輕井澤 1981 ( 舊版 ) Karuizawa 1981 1362 輕井澤 1960 Karuizawa 1960 日本單一純麥威士忌 51.8 度 700ml 全球限量 4木桶編號 5627 Japanese Single Malt ABV51.8% 700ml Limited release of 41 bts Cask#5627 HK$ 200,000-300,000 US$ 25,600-38,500 日本單一純麥威士忌 55.9 度 700ml 全球限量 105 瓶木桶編號 7502 6 瓶 Japanese Single Malt ABV55.9% 700ml Limited release of 105 bts Cask#7502 6bt HK$ 30,000-50,000 US$ 3,800-6,400 Lot 1352-1353

百富 Lot 1363-1368 THE BALVENIE Balvenie 酒廠屬於 William Grant & Sons 公司, 於 1886 年由 William Grant 設立, 是蘇格蘭最古老及最富盛名的威士忌公司之一 一百多年來經歷五個世代的製酒經驗,Balvenie 現在已是全球排名前 10 名的品牌與威士忌酒廠 Balvenie 酒廠也是唯一仍堅持自己栽種大麥 以傳統地板發芽方式製作麥芽 並且到今日還以手工製作麥芽威士忌的酒廠 從泉水 空氣 發芽樓面 烘烤窯 發酵大桶 醪桶 蒸餾室 製桶及倉庫等一應俱全! 這當中的細節, 更是其它追求高產量及高效率的現代化酒廠無法比擬的, 如雇用專職的銅匠看顧蒸餾器 雇用專職的桶匠照料所有儲存酒的木桶等等, 都是為確保 Balvenie 出品的酒質穩定與控管 本次拍賣有兩瓶 Balvenie 新舊版的 50 年威士忌, 是所有威士忌藏家所引頸期盼的關注焦點 尤其是 1937 年到 1987 年裝瓶的舊版 50 年威士忌更是在市場上極少流通的珍藏品 Founded in 1886 by William Grant, the Balvenie Distillery belongs to the William Grant & Sons Ltd. It is one of the most renowned and oldest companies that produce whiskies in Scotland. For more than a century, it has undergone an extensive development of spirit-making through five generations. Today, Balvenie is considered one of the top ten brands and distilleries worldwide. The Balvenie Distillery is also one that is persistent about growing barley themselves, and producing malt using the traditional way of floor-malting. Even today, the distillery continues to produce handcrafted malt whisky. The Balvenie distillery has everything required to make good whisky, including spring water, air, malting floor, malt kiln, fermentation barrels, mash tub, distillation chamber, barrel-making and even storage space. Many modernized distilleries seeking maximum efficiency and production cannot compete with the Balvenie Distillery because of difference in details involved during the production process. The Balvenie distillery hires full-time coppersmiths to take care of the distillers, hires full-time barrel makers to check on the various casks to guarantee a stable quality in the spirits produced.

1363 1365 百富 25 年 - 1974 百富 1937 The Balvenie 25-1974 The Balvenie 1937 Vintage Lable 斯佩塞單一純麥威士忌 46.9 度 700ml 木桶編號 12653 1瓶 斯佩塞單一純麥威士忌 42 度 750ml 全球限量 500 瓶 1瓶 Speyside Single Malt ABV46.9% 700ml Cask#12653 Speyside Single Malt ABV42% 750ml Limited release of 500 bts HK$ 12,000-18,000 HK$ 120,000-160,000 US$ 1,500-2,300 US$ 15,000-20,000 1364 百富屯1858 限量版 The Balvenie Tun 1858 斯佩塞單一純麥威士忌 50.4 度 700ml 全球限量 2200 瓶 12 瓶 Speyside Single Malt ABV50.4% 700ml Limited release of 2200 bts 12bts HK$ 75,000-100,000 US$ 9,500-12,500 Lot 1365

1366 百富 1973 The Balvenie 1973 斯佩塞單一純麥威士忌 54 度 700ml 全球限量 198 瓶編號 : 42 木桶編號 8588 5 瓶 Speyside Single Malt ABV54% 700ml Limited release of 88 bts198 (#42) Cask#8588 5bts HK$ 110,000-150,000 US$ 14,000-19,000 1368 百富 50 年 The Balvenie Fifty 班夫郡單一純麥威士忌 44.1 度 700ml 全球限量 88 瓶木桶編號 5576 2 瓶 Banffshire Single Malt ABV44.1% 700ml Limited release of 88 bts Cask#5576 2bts HK$ 300,000-400,000 US$ 38,000-51,000 1367 百富 1970 The Balvenie 1970 斯佩塞單一純麥威士忌 52.6 度 700ml 全球限量 19編號 : 66 木桶編號 16191 Speyside Single Malt ABV52.6% 700ml Limited release of 191 bts (#66) Cask#16191 HK$ 24,000-32,000 US$ 3,000-4,000 Lot 1368

埃倫港 Port Ellen 1369 埃倫港 1979 第三版 Port Ellen 1979 (3th release) 艾拉島單一純麥威士忌 57.3 度 700ml Islay Single Malt ABV57.3% 700ml HK$ 4,000-6,000 US$ 500-800 1372-1373 埃倫港 1979 第三版 Port Ellen 1979 (3th release) 艾拉島單一純麥威士忌 57.3 度 700ml Islay Single Malt ABV57.3% 700ml HK$ 4,000-6,000 US$ 500-800 1370-1371 埃倫港 1978 第八版 Port Ellen 1978 (8th release) 艾拉島單一純麥威士忌 55.3 度 700ml 全球限量 88 瓶 6 瓶 Islay Single Malt ABV55.3% 700ml Limited release of 6618 bts 6bts HK$ 68,000-98,000 US$ 8,700-12,500 1374 埃倫港 1979 第七版 Port Ellen 1979 (7th release) 艾拉島單一純麥威士忌 53.8 度 700ml Islay Single Malt ABV53.8% 700ml HK$ 11,000-13,000 US$ 1,400-1,600 1375 埃倫港 25 年水晶瓶裝 Port Ellen Decanter 25-1975 Sliver Seal Label 艾拉島單一純麥威士忌 46 度 750ml Islay Single Malt ABV46% 750ml Uniqne HK$ 30,000-50,000 US$ 3,800-6,400 Lot 1370-1371

波摩 BOWMORE 1376 波摩三部曲 Bowmore - 1964 Trilogy 艾拉島單一純麥威士忌 40.5/42.4/42.8 度 700ml 全球限量 827 瓶 / 全球限量 70 / 全球限量 732 瓶 3 瓶 Islay Single Malt ABV40.5/42.4/42.8% 700ml 827/701/732 3bts HK$ 110,000-140,000 US$ 14,400-17,300 2008 年初, 來自 Oloroso 雪莉桶 全球限量 827 瓶的黑波摩雷震全球, 開啟傳奇首頁 2009 年初, 取自 6 個波本桶 全球限量 732 瓶的白波摩風雲登場, 行家競藏 全球都在殷切期待的波摩艾雷 1964 經典三部曲,2010 年初將由最終限量版 金波摩 壓軸問市, 為波摩酒廠傲世經典劃下完美句點! 1964 年 11 月 5 號, 英國波摩酒廠窖藏上等威士忌的 一號酒窖 裡, 一批珍貴美國波本桶與西班牙 Oloroso 雪莉桶原酒開啟了漫長的熟成之旅 2008 年底, 為熔煉出集黑 白波摩風味精華於一身的三部曲壓軸作, 波摩首席釀酒師自窖中取出最優秀的 3 個波本桶與 1 個 Oloroso 雪莉桶原酒調校, 取其尊貴 閃耀的金黃色澤, 命名 金波摩 流金般尊貴酒液中, 湧現深刻麥香 白桃 百香果 木瓜與清新香草氣息 ; 入口後豐盈酯香與成熟果味彷彿爆炸般撼動感官, 雪莉桶原酒帶來如巧克力香蕉般厚實甜美酒體 ; 窖藏過程海風經年累月吹拂, 潤澤出迷人的海潮風味, 餘韻迴繞香草及溫暖泥煤氣息 整部作品融合雙重風味桶精華, 經蘇格蘭傳統工法打造, 展現波摩威士忌前所未見的富麗堂皇, 堪稱波本桶與 Oloroso 雪莉桶最契合的 結婚! 波摩傳奇三部曲中, 黑 白波摩曾創下拍賣金額高達 18,000 美金的驚人數字, 這款壓軸作未來將攀升到何等天價, 已成全球威士忌收藏家熱切關注的話題, 當金波摩千呼萬喚終於釋出,VIP 級酒迷無不爭相搶購, 配給瓶數火速銷售一空! 一如波摩酒廠經理 Eddie McAffer 所說 : 波摩酒廠只提供最好的威士忌, 金波摩更是集大成之作, 它囊括威士忌所能具備最獨特的優點, 為當今獨一無二的絕頂威士忌, 這將是我們畢生引以為傲的經典! In 2008, the first edition of the legendary Black Bowmore, matured in oloroso sherry casks for 29 years, with only 827 bottles produced. Then, the second edition of the 1964 Trilogy series, the White Bowmore, aged in bourbon casks, was produced. It was named after its lighter color that bourbon maturation tends to yield and only 732 bottles were produced. The last of the trilogy series is the Gold Bowmore, released in 2009 with only 701 bottles available. The Gold Bowmore was matured using the best bourbon casks and Oloroso sherry casks of the distillery, thus giving it its name referring to its golden color, as well as being made only from the very best. Each bottle of the Gold Bowmore is handnumbered and encased in a stunning Burr Elm box. Previously of the Bowmore trilogy, the Black and the White Bowmore have long been coveted by whisky lovers worldwide, with previous auction records selling as much as $18,000 USD. Now with the new Gold Bowmore, prices may soar even higher, as Eddie McAffer, Distillery Manager at Bowmore described: I am so proud to see this last and very special part of the trilogy released. At Bowmore we put everything we have into every single bottle but this Gold Bowmore is something quite unique, embodying everything that is special about the whisky and from a year when things at the Bowmore distillery really went into a new era. 每瓶皆有手寫裝瓶編號精緻榆木外盒完美收藏

拉弗格 LAPHROAIG 樂加維林 Lagavulin 1377 拉弗格 30 年 Laphroaig 30 艾拉島單一純麥威士忌 43 度 750ml Islay Single Malt ABV43% 750ml HK$ 12,000-16,000 US$ 1,500-2,000 1380 樂加維林 25 Lagavulin 25 艾拉島單一純麥威士忌 57.2 度 700ml 2 瓶 Islay Single Malt ABV57.2% 700ml 2bts HK$ 16,000-20,000 US$ 2,000-2,500 1381 樂加維林法蘭西島大區 2007-2012 Lagavulin Feis Ile 2007-2012 艾拉島單一純麥威士忌 56.5/52.9/54.4/52.7/51/55.1 度 700ml 木桶編號 4893/1403/4556/3210/1715/1716 6 瓶 Islay Single Malt ABV56.5/52.9/54.4/52.7/51/55.1% 700ml Cask#4893/1403/4556/3210/1715/1716 6bts HK$ 40,000-60,000 US$ 5,100-7,700 1378-1379 拉弗格 40 年 Laphroaig 40 艾拉島單一純麥威士忌 42.4 度 700ml 全球限量 1759 瓶 Islay Single Malt ABV42.4% 700ml Limited release 1759bts HK$ 50,000-70,000 US$ 6,400-9,000 Lot 1377 Lot 1378-1379 Lot 1381

1382 樂加維林 1979,1980,1981,1984,19 86,1987,1988,1989,1990,1991,19 91,1993,1994,1995,1996,1995- 雙熟成 Lagavulin 1979, 1980, 1981, 1984, 1986, 1987, 1988, 1989, 1990, 1991, 1991, 1993, 1994, 1995, 1996, 1995 Double matured 艾拉島單一純麥威士忌 43 度 700ml 16 瓶 Islay Single Malt ABV43% 700ml 4/463, 4/464,4/465, 4/468,4/490, 4/491, 4/492, 4/493, 4/494, 4/495, 4/496, 4/497, 4/498, 4/499, 4/500, 4/501 16bts HK$ 55,000-75,000 US$ 7,000-9,600 1383 樂加維林艾拉爵士音樂節 2011, 2012 Lagavulin Islay Jazz Festival 2011,2012 艾拉島單一純麥威士忌 55.4/54.5 度 700ml 全球限量 616 瓶編號 : 511 2 瓶 Islay Single Malt ABV55.4/54.5% 700ml Limited release 51s/616 bts 2bts HK$ 18,000-26,000 US$ 2,300-3,300

格蘭利威 Lot 1384-1389 GLENLIVET 1384 格蘭利威 1943 獨立裝瓶 Glenlivet Vintage 1943 - Private Collection 1388-1389 格蘭利威 1969 酒窖收藏版 the Glenlivet 1969 - Cellar Collection 斯佩塞單一純麥威士忌 40 度 700ml Speyside Single Malt ABV40% 700ml 斯佩塞單一純麥威士忌 50.8 度 750ml 2 瓶 Speyside Single Malt ABV50.8% 750ml 2bts 蘇格蘭有 100 多間蒸餾廠, 每款單一純麥威士忌的風味都各具特色, 不過如果要選出其中一款當做業界的代表 Glenlivet 是蘇格蘭地區第一間領到合法執照的蒸餾廠 創始人 George Smith 一開始也只是蘇格蘭地區一個小農村的散戶, 但它做出來的酒相當受到歡迎, 在 1822 年的時候英王喬治四世出巡時, 愛丁堡的華特. 史考特爵士特地準備了 Glenlivet 的威士忌來招待他, 結果喬治四世一喝上癮, 從此 Glenlivet 的聲名大噪 Glenlivet 位於斯佩賽區的支流 River Livet 河谷, 水湧自花崗岩, 且常在地底伏流數哩, 是公認用來釀造威士忌最好的水源之一 在 Glenlivet 受到喬治四世的賞識之前,George Smith 也是靠私製酒類才建立起整個家族的財富, 但他是一個相當有遠見的釀酒師, 就在英王出巡的隔年, 他正式建立了 Glenlivet 酒廠, 並在 1824 年取得了該地區第一張合法的蒸餾廠執照 但其它酒商私自將他們名字印刷在酒標上的情形還是沒有改善, 直到 1884 年英國政府核准了他們的請求, 只有 George Smith 的後裔能夠冠上 The Glenlivet 的名字, 從此才杜絕了這個狀況 Glenlivet 還有一項第一, 就是在禁酒令解除後, 首間進入美國並打開整個市場的蘇格蘭威士忌酒商 整體而言,Glenlivet 酒廠用的水質偏硬, 有花香 果香, 加上桃子和蘋果般的甜美 ; 大約 1/3 的酒桶使用雪莉酒, 是一款典型斯佩賽區威士忌的代表 近年來由於酒廠甚少推出酒廠的老酒系列, 也讓市場上的 Glenlivet 老酒系列, 爲所有玩家所爭相追逐的收藏品項代表! With more than 100 distilleries in Scotland, every pure malt whisky is unique. However, if one were to choose a single distillery to represent the whole Scottish whisky genre, Glenlivet should be up to the task, being the first licensed distillery in Scotland. George Smith, its founder, started out as a small distiller in a small village in Scotland. His big break came when George IV, the English King then, was on his visit to different parts of the country in 1822, and Sir Walter Scott proffered him whisky from Glenlivet. King Goerge IV was instantly addicted, propelling Glenlivet to popularity. Glenlivet is located in the valley of a tributary of River Livet in the Speyside area. Coming from granite and often meandering underground for several miles, the water in the region is widely accepted as one of the best sources for distilling whisky. Before winning the appreciation of King George IV, Smith managed to amass his family wealth by distilling in private. However, with foresight, he established the Glenlivet distillery the year after the king s visit, and gained the first legal license for his distillery. Other distilleries printed the Glenlivet name on their products as well, and it wasn t until 1884 when the British Government granted the requests from the descendants of Smith that they could use the name Glenlivet exclusively did this phenomenon stop. Glenlivet is the proud owner of another title: the first Scotch whisky producer that entered the American market after prohibitions and he literally opened up the market for other distilleries of Scotland. The Glenlivet distillery uses somewhat hard water, with hints of floral and fruity scents, and sweetness similar to peaches and apples; about one-third of the barrels use sherry, typical of whiskies in the Speyside region. In recent years, distilleries seldom introduce old spirits to the market, making old Glenlivet spirits still available being greatly sought after by collectors and aficionados. HK$ 38,000-55,000 US$ 4,900-7,100 1385-1387 格蘭利威限量珍藏系列 -1964 Glenlivet Cellar Collections-1964 斯佩塞單一純麥威士忌 45 度 700ml Speyside Single Malt ABV45% 700ml HK$ 40,000-60,000 US$ 5,100-7,700 HK$ 60,000-80,000 US$ 7,700-10,300 Lot 1384

格蘭傑 Lot 1390-1395 GLENMORANGIE 1390-1391 格蘭傑瑪歌桶 1987 Glenmorangie Margaux Finish Vintage 1987 高地單一純麥威士忌 46 度 700ml 全球限量 355 Highland Single Malt ABV46% 700ml Limited release 355s 格蘭傑 (Glenmorangie) 的蓋爾語是 幽靜的谷 格蘭傑的水源來自深埋在地下數百年的泰洛希湧泉 (Tarlogie Spring) 為了能確保泉水源頭品質不受污染, 他們更是砸下手筆購買了附近 250 公頃的土地加以保護 泉水經年累月緩慢地穿過層層疊疊的石灰岩獲得豐富的礦物質, 給予格蘭傑中所蘊含的繁複水果香氣 酒廠最早成立於 1843 年,2004 年被酩悅 軒尼詩 - 路易 威登集團 (LVMH) 收購 格蘭傑有很多特殊且了不起的特色 如來自高地的湧泉水源 古老石碑的品牌標誌外, 以及全蘇格蘭最高的銅製蒸餾器, 越高的蒸餾器表示只有更輕與更純淨的酒才能抵達蒸餾器的最頂端 而近年來最令威士忌迷稱讚樂道的是他們在換桶方面的研究與對木桶質量上的堅持 格蘭傑的桶子堅持只用兩次, 陳放超過兩次以上的桶子能提供的波本味便已不再符合他們的標準 自從 2004 年全部改版後, 市面上舊版酒標的老酒就成爲威士忌愛好者所相爭收藏的對象 Glenmorangie means quiet and peaceful valley in Gaelic. The Glenmorangie whiskies use water from the Tarlogie Spring, which is spring water that has been deeply buried underground for centuries. To protect this water source from pollution, the Glenmorangie company invested a large sum to purchase the 250 hectares of land around the spring, ensuring its water source remain natural and pure. Throughout the centuries, the spring water flows through layers after layers of limestone, enriching the water with an abundance of minerals. This deeply mineralized water gives Glenmorangie whiskies its sophisticated fruity flavor. The Glenmorangie distillery was established in 1843, and the company was sold to Moet Hennesy Louis Vuitton (LVMH) in 2004. Glenmorangie has many unique and distinctive features, including a Highland spring water source, its trademark of the ancient stone-tablet logo, and the highest copper still in Scotland. A higher still means that only the lightest and the purest spirit can reach the top of the stills. Most relished by whiskey lovers all over the world in recent years is Glenmorangie s uncompromised high standard in quality wood casks, together with its practice of strictly changing these casks only after one repeated aging process. Glenmorangie insists on using their casks only twice, since casks that have been through the aging process more than twice can no longer produce the rich bourbon flavor meets the Glenmorangie s high standards. After the ownership-change in 2004, Glenmorangie s vintage whiskies with the original Glenmorangie label have quickly become the collectors hot item on the whiskey collection market due to its rarity. HK$ 6,200-8,500 US$ 800-1,100 1392-1393 格蘭傑 30 年 Glenmorangie 30 高地單一純麥威士忌 44 度 700ml 全球限量 4548 瓶 Highland Single Malt ABV44% 700ml Limited release 4548 bts HK$ 7,500-9,500 US$ 1,000-1,200 1394-1395 格蘭傑 25 年 Glenmorangie 25 高地單一純麥威士忌 43 度 700ml Highland Single Malt ABV43% 700ml HK$ 8,200-10,000 US$ 1,100-1,300 羅特列克 紅磨坊中的自畫像 1892 年美國芝加哥芝加哥藝術學院藏 Henri de Toulouse-Lautrec, Self-portrait in the crowd, at the Moulin Rouge, 1892, Collection of Art Institute of Chicago, Chicago, USA

格蘭露斯 Lot 1396-1398 GLENROTHES 1396 格蘭露斯約翰 拉姆齊 Glenrothes John Ramsay 斯佩塞單一純麥威士忌 46.7 度 700ml 全球限量 1400 瓶編號 : 460 Speyside Single Malt ABV46.7% 700ml Limited release of 1400 bts (#460) Glenrothes 坐落於 Spey 河畔 Rothes 鎮, 是很特殊的一間酒廠, 他所使用的水源不是來自於 Spey 河, 而是來自於一座名為 淑女井 (The Lady's Well) 的井水 Glenrothes 創立於 1878 年, 這間酒廠還有一個特別的地方, 他們沒有所謂一般年份的核心酒款, 每支酒都以年份或是人名標記, 因此也可以說每次推出的都是全新的口味, 每一支都是數量有限的產品 2009 年 6 月退休的 John Ramsay, 從 1990 年代早期開始擔任格蘭路思的釀酒大師, 是孕育優質格蘭路思單一麥芽威士忌的靈魂人物 自 2004 年後推出的 14 款威士忌中, 每一款都有他的簽名 為了感謝他對格蘭路思的卓越貢獻, 我們請他創作最具代表性的一款格蘭路思單一麥芽威士忌, 並驕傲地留下他的最後一個簽名 John 選擇了一批熟成於美國白橡木雪莉桶中 釀造於 1973 到 1987 年間的酒桶, 以非冷凝過濾製程謹慎地創造出最能代表他傳奇的格蘭路思威士忌 The Glenrothes is an unique distillery located at the riverside of Spey in Rothes since it makes use of the water from a swell named The Lady s Well instead of river Spey. Since the establishment in 1878, the distillery has one very specific practice is that they don t have the so called core range wine, they name every type of wine by year or name. So whenever they launch a new product with limited quantity, it is regarded as a new label. John Ramsay retired in June 2009. He has been Malt Master for The Glenrothes since the early 1990s. The genius behind the whisky s exceptional quality, his signature has been on all fourteen labels since 2004. To mark this occasion we asked John to make an expression that he would be proud to sign his name to for the very last time. So he identified a pocket of of 2nd fill American Oak sherry casks from Vintages ranging from 1973 to 1987. These he married, reduced very gradually in strength-without chill filtering-to produce a whisky that will stand as his legacy to The Glenrothes. HK$ 8,800-12,000 US$ 1,100-1,500 1397 格蘭露斯 1979 Glenrothes Editor s Cask 1979 斯佩塞單一純麥威士忌 52.1 度 700ml 全球限量 300 瓶 Speyside Single Malt ABV52.1% 700ml Limited release of 300 bts HK$ 9,000-12,000 US$ 1,200-1,500 1398 格蘭露斯 1967 Glenrothes 1967 斯佩塞單一純麥威士忌 46.3 度 700ml 全球限量 200 瓶木桶編號 6998 Speyside Single Malt ABV46.3% 700ml Limited release of 200 bts Cask#6998 HK$ 20,000-40,000 US$ 2,600-5,100 Lot 1396

1399-1403 百齡罈 40 年頂級調和式蘇格蘭威士忌 Ballantine s 40 登巴頓調和式威士忌 43 度 700ml 全球限量 100 瓶 Dumbarton Blended Malt ABV43% 700ml Limited release of 100 bts HK$ 56,000-70,000 US$ 7,200-9,000

1404 1406 1409 1411 火星麥芽 3+25-28 年 軒尼詩永恆干邑白蘭地 金豹 1978 小香檳區干邑白蘭地 寶拉蕊皇家干邑 Mars Maltage 3 Plus 25-28 Year Old 日本調和式威士忌 46 度 700ml 全球限量 3800 瓶 Japanese Blended Malt ABV46% 700ml Limited release of 3800 bts HK$ 15,000-20,000 US$ 1,900-2,600 Hennessy Timeless Cognac - Baccarat Crystal Decanter 法國調和威士忌調和式威士忌 43.5 度 7000ml 全球限量 2000 瓶 French Blended Malt ABV43.5% 7000ml Limited release of 2000 bts HK$ 100,000-150,000 US$ 12,800-19,200 Meukow Petite Champagne Cognac - 1978 法國干邑 58 度 1700ml 14 瓶 French Cognac ABV58% 1700ml 14bts HK$ 48,000-60,000 US$ 6,200-7,700 Volare Grande Champagne Cognac X.O.Imperial 法國干邑 40 度 720ml French Cognac ABV40% 720ml HK$ 10,000-15,000 US$ 1,300-1,900 1407 1410 金豹 1862 家族紀念版干邑白蘭地 人頭馬路易十三干邑限量版 3 升裝 Meukow 1862 Esprit de famille 法國干邑 40 度 700ml 2 瓶 French Cognac ABV40% 700ml 2bt HK$ 15,000-20,000 US$ 1,900-2,600 Rémy Martin Le Jeroboam Louis XIII decanter 法國干邑單一純麥威士忌 40 度 3000ml 全球限量 100 瓶 Cognac, France Single Malt ABV40% 3000ml Limited release of 100 bts HK$ 260,000-300,000 US$ 33,300-38,500 Lot 1404 1405 1408 軒尼詩李察干邑白蘭地 金豹干邑白蘭地 2 升裝 Hennessy Richard Cognac Meukow Rarissime 法國調和威士忌調和式威士忌 40 度 700ml French Blended Malt ABV40% 700ml HK$ 38,000-50,000 US$ 4,900-6,400 法國干邑 41.3 度 2000ml 全球限量 100 瓶 French Cognac ABV41.3% 2000ml Limited release of 100 bts HK$ 16,000-24,000 US$ 2,100-3,100 Lot 1410

1412 1973 年葵花牌貴州茅台 Sunflower Kweichow Moutai 1973 國酒茅台 中國貴州茅台古鎮一帶早在西元前 135 年就生產出的枸醬酒, 漢武帝以 甘美之 讚歎, 視為珍奇, 當時即為貢品, 這便是醬香型白酒茅台酒的前身 黔北一帶水質優良, 氣候宜人, 當地人善於釀酒, 前人把這一帶稱為 酒鄉, 其中又以仁懷市茅台鎮的酒最為甘冽, 稱為 茅台燒 或 茅台春 古茅台一帶所產的酒在西漢時期就作為貢品供皇帝飲用或地方官僚享用, 但由於交通不便規模一直很小, 茅台鎮開設正式作坊始於何時尚無明確考證, 應該在明代時便出現釀酒的正規作坊, 茅台酒獨特的回沙工藝也在這個時候基本形成 清代乾隆年間開修赤水河航道, 茅台成為川鹽運黔的集散地, 到道光年間茅台地區商賈雲集, 民夫川流不息, 對酒的需求與日俱增, 從而刺激了釀造業的發展和釀酒技術的提高, 正如清代詩人鄭珍所說 酒冠黔人國, 鹽登赤地河, 可見茅台酒在當時已深受喜愛 聲名遠播 世界三大蒸餾名酒 由於茅台酒銷路好利潤高, 清末以來許多私人公司企圖將茅台酒的技術轉移至其他地區, 但都未成功 茅台所特有的地形地勢 土壤 純淨的水質造就了茅台酒醬香突出 細膩飽滿 回味悠長 空杯留香持久的獨特風格, 是其他任何地方無法複製的 1915 年美國為慶祝巴拿馬運河通航, 在三藩市舉行了 巴拿馬萬國博覽會 茅台酒作為名優特產送展, 在展會上以其特有的優點征服了各國的評酒專家, 被譽為世界名酒, 與法國科涅克白蘭地 英國的蘇格蘭威士忌並稱為世界三大蒸餾名酒, 從此蜚聲中外 1951 1952 年地方政府通過購買等方法成立了國營茅台酒廠, 從此茅台酒廠不斷發展壯大 尤其在新中國成立後, 茅 台酒得到了國家領導的特別青睞, 被尊為國酒, 國酒之父周恩來更是傾力推薦, 在外交史上發揮了舉足輕重的作用, 成為東方古老文化的一部分, 可說茅台酒伴隨著新中國一起成長 赤水河畔清泉水, 瓊漿玉液酒之最, 天涯此時共舉杯, 惟有茅台喜相隨 茅台酒是用赤水河的水釀造的, 而馳名中外的中國工農紅軍萬里長征途中 四渡赤水 的輝煌歷史也是在赤水河畔寫下的, 之後的茅台酒就與中國的創建者 開國元勳與領導們結下了不解之緣 1945 年七月著名教育家黃炎培造訪延安時, 毛澤東以茅台酒宴請, 周恩來 陳毅作陪, 四人聯句和成一首茅台詩 : 赤水河畔清泉水 ( 毛澤東 ), 瓊漿玉液酒之最 ( 周恩來 ), 天涯此時共舉杯 ( 黃炎培 ), 惟有茅台喜相隨 ( 陳毅 ) 1958 年 3 月, 中共中央在成都召開政治局擴大會議 一天下午, 時任貴州省委書記兼省長的周林, 陪毛澤東去杜甫草堂, 毛澤東問身邊的周林 : 你是貴州仁懷人, 你說說, 茅台現在生產情況怎麼樣? 茅台是用什麼神水搞的哦! 那麼香, 那麼美 周林回答說 : 那不是什麼神水, 開始茅台酒是楊柳灣的井水, 後來水不夠就用您長征四渡赤水河的那個水搞的 毛澤東聽後高興地說 : 呵, 原來有那麼多水, 你何不搞個一萬噸? 人民需要嘛, 國家需要嘛, 還可以出口換鋼材汽車, 但是要保證品質啊! 茅台酒的產量在 2011 年已經突破 3 萬噸了, 如今我們則可以從這些珍貴的早期茅台酒, 領略當時處於變革與建設中的嶄新氣象, 體會茅台酒與新中國之間難以割捨的特殊情感 53 度 270ml 1973 年 10 月 6 日 ABV53% 270ml 1 bt Bottled at: 6 Oct. 1973 HK$ 100,000-150,000 US$ 12,800-19,300 葵花牌 為中國糧油進出口標識, 在國內銷售很少 1966 年文革開始後茅台酒原出口商標 飛天牌 ( 也稱飛仙 ) 因有封建傳統色彩,1970 年被停止使用, 隨即更改為具有紅色寓意 朵朵葵花向太陽 的 葵花牌 商標 1973 年 葵花牌 貴州茅台酒無疑是 文革 這個特殊時期的產物 如今, 葵花牌 茅台酒受藏友追捧, 就是因為它只存在了幾年的時間 因為存世量有限, 所以備受茅台酒收藏者的特別青睞 The SunFlower is a mark of importation and exportation of grains and oil produced in China. Therefore, this particularly Sunflower Kweichos Moutai is rarely sold within the country. In 1966, the Cultural Revolution began. Because of traditional federal implications, the original trademark of exportation, the Feitain(also called Fexian) of Moutai liquor was banned in 1970 and was transformed into the red-tinted sunflower trademark, meaning Sunflowers all face the sun. The SunFlower Kweichow Moutai 1973 is undoubtedly a product made during the Cultural Revolution. Today, the SunFlower Kweichow Moutai is eagerly sought-after by collectors just because of its short window of existence. Since there this liquor is rare, it is particularly favored by many connoisseurs.

1413 1975-1985 年飛天牌貴州茅台 Feitian Kweichow Moutai 1975-1985 1414 1963 年貴州茅台 Kweichow Moutai 1963 53 度 540ml 9 瓶 1975-1985 年 ABV53% 540ml 9 bts Bottled at: 1975-1985 HK$ 200,000-250,000 US$ 25,600-32,100 53 度 540ml 1963 年 ABV53% 540ml 1 bt Bottled at: 1963 HK$ 1,000,000-1,400,000 US$ 128,200-180,000 從上世紀 50 年代開始, 飛天牌茅台酒作為茅台酒廠外銷專用酒, 採用雙層防碎包裝紙盒, 用窖存多年的老酒精心勾兌而成, 酒體優雅細膩, 具有一種難易明說的老熟香味道, 品質極佳, 是老茅台中的經典品種 1975-1985 年上半年之前, 規格為 540ml, 被稱為 大飛天 ;1985 年下半年至 1989 年, 改為 500ml, 被稱為 老飛天 該組拍品為 大飛天, 品相完好, 存酒飽滿, 極為難得 Since the 1950s, the Feitian Moutai liquor has been selected by the Feitian company for exclusive foreign sales. The brand uses double layers on the packaging to protect the bottles from breaking. This specific Moutai liquor is blended from very old aged alcohol. The body of the liquor is delicate and subtle, emanating a kind of inexplicable but familiar scent. With its excellent quality, it is among the classic items of aged Moutai. Between 1975 and the first half of 1985, Moutai liquor s standard volume remained 540ml, and the name of the product was called Big Feitian Kweichow Moutai c. Then from the second half of 1985 to 1989, the volume was decreased to 500ml and the product was given a new name called the Old Feitian. This lot available this auction is the Big Feitian. It has been kept intact and maintained in a great condition; an extremely rare collectable. 此酒為 1963 年出廠的貴州茅台酒, 整體保存完好, 瓶身包裹的棉紙在瓶口處層疊交錯, 宛如一朵正在綻放的蓮花 具體出廠日期仍被緊緊的包裹在棉紙裡面, 為最大程度的保護此酒原貌, 未切開棉紙顯露具體日期 1963 年, 在全國第二次評酒會上, 茅台酒再次榮獲全國名酒稱號, 並獲得名酒證書 由於當年茅台酒生產原料告急, 各方面困難接踵而至, 所以現存這一時期的茅台酒較為稀少, 收藏難度較大 此酒瓶為白瓷瓶, 經典又精緻 胎體輕薄, 釉面平整, 瑩潤光潔, 瓶底無字的特點 不同於 20 世紀 50 年代的大多數茅台酒瓶, 此酒存世稀少, 為一代絕品 那張包裹完整的棉紙, 是一個不可複製的夢 經過半個多世紀的沉浮, 微微泛黃的棉紙承載的是歷史的滄桑, 瓶中留存的是不衰的彌香, 令人嘆服的是其存世的不易與珍藏的價值

阿貝 ARDBEG Lot 1415-1427

1415 阿貝 30 年水晶瓶裝 Ardbeg Decanter 30 艾拉島單一純麥威士忌 50 度 750ml Islay Single Malt ABV50% 750ml HK$ 12,000-20,000 US$ 1,500-2,600 1422 阿貝 Uigeadail 限量版 Ardbeg Uigeadail 艾拉島單一純麥威士忌 54.2 度 700ml 6 瓶 Islay Single Malt ABV54.2% 700ml 6bts HK$ 40,000-60,000 US$ 5,100-7,700 1423-1424 阿貝 30-1975 Ardbeg 30-1975 艾拉島單一純麥威士忌 54.2 度 700ml 全球限量 522 瓶木桶編號 1375 2 瓶 Islay Single Malt ABV54.2% 700ml Limited release of 522 bts Cask#1375 2bts HK$ 25,000-50,000 US$ 3,200-6,400 1416-1420 阿貝群島之主 Ardbeg - Lord of the Isles 艾拉島單一純麥威士忌 46 度 700ml Islay Single Malt ABV46% 700ml HK$ 12,000-20,000 US$ 1,500-2,600 1425 阿貝 1975 Ardbeg 1975 艾拉島單一純麥威士忌 53.7 度 700ml 全球限量 453 瓶編號 : 293 木桶編號 1378 2 瓶 Islay Single Malt ABV53.7% 700ml Limited release of 453 bts (#293) Cask#1378 2bts HK$ 30,000-50,000 US$ 3,800-6,400 1421 阿貝 1973 Ardbeg 1973 艾拉島單一純麥威士忌 53.4 度 750ml Islay Single Malt ABV53.4% 750ml HK$ 40,000-60,000 US$ 5,100-7,700 Lot 1415 1426 阿貝 1975 Ardbeg 1975 艾拉島單一純麥威士忌 43 度 700ml 全球限量 2000 瓶 2 瓶 Islay Single Malt ABV43% 700ml Limited release of 2000 bts 2bts HK$ 50,000-80,000 US$ 6,400-10,300

1427 阿貝單桶瓶裝全套 62 支 Ardbeg single cask full set 艾拉島單一純麥威士忌 62 瓶 Islay Single Malt 62bts HK$ 3,000,000-5,000,000 US$ 384,600-641,000 1976-Manager's Choice ABV56% 1975 ABV45.2% 1975 ABV46.7% 1976-Committee ABV53.2% 1976-Committee ABV55% 1975 ABV46.7% 1976 ABV54.4% 1976 ABV53.5% 1975 ABV44.8% 1975 ABV46.2% 1975 ABV46.2% 1975 ABV47.6% 1976 ABV53.1% 1974 ABV44.5% 1972 ABV49.9% 1974 ABV52.3% 1976 ABV51.4% 1972 ABV48.3% 1972 ABV45.3% 1972 ABV48.5% 1972 ABV49.2% 1973 ABV49.5% 1974 ABV53.7% 1972 ABV51.4% 1972 ABV44.2% 1973 ABV49.3% 1975 ABV47.2% 1975 ABV44.7% 1974 ABV53.1% 1974 ABV51.9% 1974 ABV42.7% 1974 ABV51.7% 1974 ABV51% 1974 ABV51.8% 1974 ABV52.1% 1975 ABV40.9% 1975 ABV41.4% 1975 ABV46.3% 1974 ABV52.2% 1974 ABV52.5% 1974 ABV54.5% 1974 ABV54.1% 1974 ABV53.5% 1974 ABV48% 1974 ABV46.7% 1974 ABV50.7% 1974 ABV51.8% 1974 ABV53.9% 1975 ABV54.2% 1975 ABV53.7% 1990 ABV52.8% 1975 ABV52.3% 1976 ABV52.4% 1992 ABV55.7% 1995 ABV53.3% 1998 ABV55.4% 1998 ABV54.7% 1998 ABV54% 1998 ABV55.6% 1999 ABV58.6% 2000 ABV55.9% 2000 ABV53%

格蘭菲迪 Lot 1428-1431 GLENFIDDICH Glenfiddich 的蓋爾語就是 鹿群的山谷 之意, 而其酒廠所坐落地方便是鹿群們所棲息之地, Glenfiddich 是全世界銷量最好的單一純麥威士忌品牌之一 Glenfiddich 是蘇格蘭威士忌酒廠中, 少數由家族經營且銷售全球的酒廠 創始人 William Grant 有著數十年在蒸餾廠的工作經驗, 挑選了水質純淨的 Robbie Dhu Spring 水源, 於 1903 年成立 William Grant& Sons 公司 1957 年, 著名的 三角 形狀酒瓶面市 在家族苦心經營下, 酒廠與品牌逐步穩定地建立聲生 1963 年家族調整市場定位, 捨棄製作調和威士忌, 正式成為第一家以 單一純麥威士忌 銷售至全英國 這樣的作法在當時可說是前所未聞, 卻也證明了他們的眼光獨到之處, 非常成功地開創了 單一純麥威士忌 的新品類, 並橫掃全球! 經歷過 5 代家族的傳承,Glenfiddich 品牌獲獎無數, 在國際葡萄酒與烈酒大賽 (IWSC) 年度最佳酒廠 (Distiller of the Year) 國際烈酒競賽 (ISC) 等競賽中皆有傑出的表現 作為世界上獲獎最多的品牌,Glenfiddich 是為數不多由始至終都是由家族經營并延續創造無限可能的酒廠 本次拍賣的產品中, 格蘭菲迪珍妮 希德 羅伯茲珍藏酒 (Janet Sheed Roberts Reserve), 專誠為紀念珍妮 舒特 羅伯茲女士 (Janet Sheed Roberts), 蘇格蘭最長壽的女士, 110 歲誕辰而推出 羅伯茲女士是格蘭菲迪酒廠創辦人威廉 格蘭 (William Grant) 的外孫女, 是酒廠的靈魂人物 該陳釀於 1955 年入桶,, 在 29 號酒庫裡慢慢熟成了 55 年, 最終 4222 號酒桶裡的少量珍貴精華, 在 2011 年 11 月裝出 1威士忌,, 分別向羅伯茲女士一生中的每一個十年致意 該款無比珍貴, 全球僅有 1, 爲本次拍賣中的極為罕見的稀有珍藏品 This pristine valley inhabited by the deers is where the Glenfiddich distillery rests, giving the brand its mean, as Glenfiddich means the valley of the deer in Gaelic. Today, it is one of the top-selling brands of single malt whiskey in the world. The brand was founded by William Grant, who later created the company William Grant & Sons. Glenfiddich is one of the very few family-run Scotch whiskey distilleries whose whiskey is sold across the globe. The founder, William Grant, devoted decades of hands-on experience working at the distillery. The distillery uses water from the Robbie Dhu Spring, one of the finest sources of spring water, for its whiskies. The Glenfiddich whiskey is also well-known for its unique triangularshaped bottles that were launched in 1957. With the Grant family s uncompromising standards and hard-work, William Grant & Sons gradually earned itself a solid reputation. In 1963, the Grant family redefined itself with a daring switch. The company decided to abandon its production of blended whiskies all together and officially became the first-ever company that sells single malt whiskey throughout Great Britain. What it did was considered revolutionary and unprecedented at the time. William Grant & Sons successfully developed a brand new breed of single malt whiskey that has become a favorite around the globe. This success undoubtedly attested to the extraordinary vision of the Grant family. Throughout its five generations of family lineage in producing highquality whiskey, Glenfiddich has received countless prestigious international awards and honors. It s continuous outstanding performance in the International Wine and Spirit Competition (IWSC), Distiller of the Year, and International Spirit Competition (ISC) etc. has won itself the honor of the one brand that has received the greatest number of awards in the world. Glenfiddich, without a question, is one of the very few entirely family-run whiskey distilleries that has been passed down within the family from the very beginning, and is a company that never stops bringing forth innovative visions and possibilities. Included in this auction is the Janet Sheed Roberts Reserve, named in honor of Janet Sheed Roberts the longest-living lady in Scotland. This rare reserve marked her 110th birthday anniversary. Mrs. Roberts is the granddaughter of the Glenfiddich founder William Grant, and the heart and soul of the Glenfiddich distillery. Janet Sheed Roberts Reserve was distilled in 1955 and delicately aged in cask 29 over 55 years. Finally, 11 bottles of this elegant Glenfiddich Janet Sheed Roberts Reserve 55 year old from cask 4222 was made available to the public, one dedicated to each decade of Mrs. Roberts s life. Needless to say, this is the nectar of whiskies. Only 11 bottles in the world, extremely rare, this is unquestionably one of the most highlighted lot this auction.

1428 1429 1430 格蘭菲迪 21年 瑋緻活皇家瓷瓶浮雕 瓶裝 格蘭菲迪 1961 珍稀 格蘭菲迪 1955 (私人珍藏) Glenfiddich Private Vintage Reserve 1961 Glenfiddich 1955 - Private Vintage 斯佩塞單一純麥威士忌 43.2 度 700ml 全球限量 186 瓶 編號 43 木桶編號 9015 1瓶 斯佩塞單一純麥威士忌 52.6 度 700ml 全球限量 96 瓶 木桶編號 4221 1瓶 Speyside Single Malt ABV43.2% 700ml Limited release of 186 bts (#43) Cask#9015 Speyside Single Malt ABV52.6% 700ml Limited release of 96 bts Cask#4221 HK$ 50,000-80,000 HK$ 170,000-200,000 US$ 6,400-10,300 US$ 21,800-25,600 Glenfiddich 21 in The Wedgewood Decanter 斯佩塞單一純麥威士忌 43 度 750ml 1瓶 Speyside Single Malt ABV43% 750ml HK$ 6,000-8,000 US$ 800-1,000 Lot 1428 Lot 1429

1431 格蘭菲迪珍妮 希德 羅伯特 55 年 Glenfiddich Janet Sheed Roberts Reserve 55 斯佩塞單一純麥威士忌 44.4 度 700ml 全球限量 1木桶編號 4222 Speyside Single Malt ABV44.4% 700ml Limited release of 11 bts Cask#4222 HK$ 500,000-700,000 US$ 64,100-89,700 為慶祝珍妮 希德 羅伯特女士的 110 週年誕辰, 格蘭菲迪在 2011 年發行了 1罕見的 55 年份威士忌, 以向她一生中每個十年致意 羅伯特女士是格蘭菲迪酒廠創始人威廉 格蘭特的最後一個孫女, 而且是蘇格蘭最長壽的女人 該瓶編號為第 6 號 To celebrate Ms Janet Sheed Roberts 110th birthday, Glenfiddich released 11 bottled of these rare 55 year old precious in 2011, in order to commemorate every decade of her remarkable life. Ms Robert is the last grandchild of the Glenfiddich s founder, William Grant, and she was the oldest woman in Scotland. This bottle number is No. 6. 秋季大麥淡金色 散發橙花及紫羅蘭淡雅細緻的香氣, 混和了烤杏仁與一陣非常隱約的煙熏芳香 順滑的香子蘭與輕柔的煙熏味, 跟甜美的橡木味美妙地平衡融會 加進一兩滴水的話, 橙味會進一步發揮 悠長及帶有活潑甜美的尾韻 Colour: Pale gold with an autumn barley hue Nose : Light aromas of soft orange blossom and delicate violets mix with notes of toasted almond, and the subtlest hint of smoke. Palate: Luxurious creamy vanilla and gentle smokiness are beautifully counterbalanced with sweeter oak notes. A drop or two of water releases further zesty orange flavours and an incredible vibrancy. Finish : Extremely long, lively and sweet.

索引 INDEX 索引 INDEX Ardbeg 1973 阿貝 1973 1421 Ardbeg 1975 阿貝 1975 1425,1426 Ardbeg 30-1975 阿貝 30-1975 1423,1424 Ardbeg Decanter 30 阿貝 30 年水晶瓶裝 1415 Ardbeg - Lord of the Isles 阿貝 - 群島之主 1416,1417,1418,1419,1420 Ardbeg Uigeadail 阿貝 Uigeadail 限量版 1422 Ardbeg single cask full set 阿貝單桶瓶裝全套 62 支 1427 Auchentoshan 50-1957 歐肯特軒 50 年 - 1957 年 1284 Auchentoshan 1977 歐肯特軒 1977 年 1285 Auchentoshan 1978 歐肯特軒 1978 年 1286 Ballantine's 40 百齡罈 40 年頂級調和式蘇格蘭威士忌 1399,1400,1401,1402,1403 The Balvenie Tun 1858 百富屯 1858 限量版 1364 The Balvenie 1937 百富 1937 1365 The Balvenie 1970 百富 1970 年 1367 The Balvenie 1973 百富 1973 1366 The Balvenie 25-1974 百富 25 年 - 1974 1363 The Balvenie Fifty 百富 50 年 1368 BenRiach 12 4.5L 班瑞克 12 年紅鼎 4.5 升裝 1253 BenRiach 12 Cape of Storms 班瑞克 12 年好望角海角風暴 1254 BenRiach 16 Cape of Storms 班瑞克 16 年好望角海角風暴 1255 Bowmore - 1964 Trilogy 波摩三部曲 1376 Brora 30 (2002-2013) 布羅拉 30 年 (2002-2013) 1264 Dalmore 1973 大摩 1973 1214 Dalmore 1980 - Rare Vintage 大摩 1980 1215,1216 Dalmore 40 大摩 40 年 1217 Dalmore Astrum 40 大摩星座 40 年 1218 Dalmore Aurora 45 大摩極光 45 年 1219 Glen Garioch 32-1971 格倫蓋瑞 32 年 1971 1265 Glenfarclas 1953 格蘭花格 1953 1294,1295 Glenfarclas 59-1953 格蘭花格 59 年 - 1953 1287,1288,1289,1290,1291,1292 Glenfarclas 52-1955 格蘭花格 52 年 1955 1296,1297 Glenfarclas 1956 格蘭花格 1956 1298,1299 Glenfarclas 1958 格蘭花格 1958 年 ( 龍標限量版 ) 1306,1307 Glenfarclas 1963 格蘭花格 1963 年 ( 龍標限量版 ) 1302,1303 Glenfarclas 1968-My tribute 格蘭花格 1968 年 - 致敬 1300 Glenfarclas 105 格蘭花格 105 龍騰版三升裝 1293 Glenfarclas 105 3L 格蘭花格原酒 105 1301 Glenfarclas Family Cask 格蘭花格龍騰版限量 1304,1305 Glenfiddich 1955 - Private Vintage 格蘭菲迪 1955 年 ( 私人珍藏 ) 1430 Glenfiddich Private Vintage Reserve 1961 格蘭菲迪 1961 珍稀 1429 Glenfiddich 21 in The Wedgewood Decanter 格蘭菲迪 21 年瑋緻活皇家瓷瓶浮雕瓶裝 1428 Glenfiddich Janet Sheed Roberts Reserve 55 格蘭菲迪珍妮 希德 羅伯特 55 年 1431 Glenglassaugh 33 1978 The Chosen Few 'Mhairi McDonald' 格蘭格拉索原酒系列 33 年 1978 1258 Glenglassaugh 26 格蘭格拉索 26 年 1256 Glenglassaugh 30 格蘭格拉索 30 年 1257 Glengoyne 33 格蘭哥尼 33 年 1260 Glengoyne 34 格蘭哥尼 34 年 1259 Glengoyne 37 格蘭哥尼 37 年 1261 Glenlivet Vintage 1943 - Private Collection 格蘭利威 1943 獨立裝瓶 1384 The Glenlivet Cellar Collection-1964 格蘭利威限量珍藏系列 -1964 1385,1386,1387 The Glenlivet 1969 - Cellar Collection 格蘭利威 1969 酒窖收藏版 1388,1389 Glenmorangie Margaux Finish Vintage 1987 格蘭傑瑪歌桶 1987 年 1390,1391 Glenmorangie 25 格蘭傑 25 年 1394,1395 Glenmorangie 30 格蘭傑 30 年 1392,1393 Glenrothes 1967 格蘭露斯 1967 1398 Glenrothes Editor's Cask 1979 格蘭露斯 1979 1397 Glenrothes John Ramsay 格蘭露斯約翰 拉姆齊 1396 Glenury Royal 36-1968 格蘭烏妮 36 年 1968 1263 Glenury Royal 36-1970 格蘭烏妮 36 年 1970 1262 Hakushu 1989 白州 1989 1318 Hanyu Ichiro Malt Cask Strength - 23 羽生原酒 23 1316 Hanyu Ichiro's Malt Card Series 羽生撲克牌系列 1317 Hennessy Richard Cognac 軒尼詩李察干邑白蘭地 1405 Hennessy Timeless Cognac - Baccarat Crystal Decanter 軒尼詩永恆干邑白蘭地 1406 Hibiki 30 響 30 年 1319 Hibiki 35 Limited Edition Sakaida Kakiemon XIV Decanter 響 35 年十四代酒井田柿右衛門限量版 1320,1321,1322 Highland Park 25 (Old Label ) 高原騎士 25 年第一版大頭瓶 1266 Highland Park 40 高原騎士 40 年 1267,1268 Highland Park 50 高原騎士 50 年 1269 Isle of Jura Vintage 1974 汝拉 1974 1270 Karuizawa 1960 輕井澤 1960 1362 Karuizawa Black Aqua of Life Vintage 45 輕井澤 45 年黑色命之水 1967 1336,1337,1338,1339,1340,1341 Karuizawa White Aqua of Life Vintage 46 輕井澤 45 年白色命之水 1968 1342 Karuizawa 1970 & 1971 Geisha Label (Two Beauties) 輕井澤 1970 & 1971 藝妓標 ( 雙嬌版 ) 1345 Karuizawa Daily Dram Wait la Mazurka 1977 輕井澤 1977 年 1333 Karuizawa Vintage 1977 Geisha Label 輕井澤 1977 年藝妓限量版 1334 Karuizawa 1981 (The Black Wave Label) 輕井澤 1981 ( 黑浪標 ) 1328,1329,1330,1331,1332 Karuizawa 1981 輕井澤 1981 ( 舊版 ) 1358,1359,1360,1361 Karuizawa 1981 (The Geisha Label) 輕井澤 1981 藝妓標 1346 Karuizawa 31-1981Karuizawa 32-1981 Karuizawa 33-1980 Karuizawa 33-1980 1343 輕井澤 31 年 - 1981 輕井澤 32 年 - 1981 輕井澤 33 年 - 1980 輕井澤 33 年 - 1980 Karuizawa Honor Sumo Triple Set & Cask Strength Sumo 1981 & 1983 輕井澤相撲全系列 1981/1982/1983 全景 1981/1983 1352,1353 Karuizawa 1983 輕井澤 1983 1347,1348,1354,1355,1356,1357 Karuizawa 1985 (The Tiger Label) 輕井澤 1985 ( 老虎標 ) 1326,1327 Karuizawa Noh 29 輕井澤能 29 年 1335 Karuizawa 30 Geisha Label Karuizawa 31 Geisha Label 輕井澤 30 年藝妓標輕井澤 31 年藝妓標 1344 Karuizawa Cask Strength 2nd Release 輕井澤原酒第二版 1349 Karuizawa Cask Strength 3rd Release 輕井澤原酒第三版 1350 Karuizawa Cask Strength 4th Release 輕井澤原酒第四版 1351 Kweichow Moutai 1963 1963 年貴州茅台 約 841g 1414 Sunflower Kweichow Moutai 1973 1973 年葵花牌貴州茅台 約 612g 1412 Feitian Kweichow Moutai 1975-1985 1975-1985 年飛天牌貴州茅台 1413 約 1066g/1063g/1053g/1051g/1051g/1045g/1042g/1038g/1030g Five-star Kweichow Moutai Three Revolutions 1976 1976 年五星牌貴州茅台 三大革命 約 1058g 1239 Five-Star Kweichow Moutai Three Revolutions 1980 (Paper Wrapped) 1980 年五星牌貴州茅台 三大革命 ( 附棉紙 ) 約 977g 1241 Five-Star Kweichow Moutai Three Revolutions 1980 (Paper Wrapped) 1980 年五星牌貴州茅台 三大革命 ( 附棉紙 ) 約 1022g 1242 Five-Star Kweichow Moutai Three Revolutions1980 1980 年五星牌貴州茅台 三大革命 約 991g/996g/1044g/956g/998g/1079g 1246 Five-Star Kweichow Moutai Three Revolutions1981 (Paper Wrapped) 1981 年五星牌貴州茅台 三大革命 ( 附棉紙 ) 約 1012g 1243 Five-Star Kweichow Moutai Three Revolutions1982 1982 年五星牌貴州茅台 三大革命 1247 約 1014g/1102g/1011g/1042g/1061g/1030g/1006g/979g/1016g/1037g/1065g/1060g Five-Star Kweichow Moutai Local State-owned1983 1983 年五星牌貴州茅台 地方國營 約 1020g/1046g/1035g/982g/1007g/1068g 1236 Five-Star Kweichow Moutai Local State-owned1983 (Paper Wrapped) 1983 年五星牌貴州茅台 地方國營 ( 附棉紙 ) 約 1060g/1071g 1231 Five-Star Kweichow Moutai Local State-owned1984 1984 年五星牌貴州茅台 地方國營 約 1022g/993g/1066g/1038g/1095g/1046g 1235 Five-Star Kweichow Moutai Local Stateowned1985 1985 年五星牌貴州茅台 地方國營 約 1035g/1117g/1053g/1101g/1072g/1074g 1232 Five-Star Kweichow Moutai Local State-owned1986 1986 年五星牌貴州茅台 地方國營 約 1034g/1105g/1056g/1073g/1060g/1090g 1233 Five-Star Kweichow Moutai Local State-owned1986 1986 年五星牌貴州茅台 地方國營 約 1026g/1070g/1039g/1082g/1041g/1110g 1234 Five-Star Kweichow Moutai Iron BottleCap 1987 1987 年五星牌貴州茅台 鐵蓋 約 965g/983g/992g/945g/952g/930g/930g 1251 Five-Star Kweichow Moutai Iron BottleCap 1988 1988 年五星牌貴州茅台 鐵蓋 約 965g/902g/928g/935g/948g/960g 1249 Five-Star Kweichow Moutai Iron Bottle Cap 1988(Lucky 8 collection) 1988 年五星牌貴州茅台 鐵蓋 ( 發 字組合 ) 約 997g/948g/1039g/938g/940g/960g 1250 Five-Star Kweichow Moutai Iron Bottle Cap1989 1989 年五星牌貴州茅台 鐵蓋 約 958g/966g/934g/1010g/996g/962g 1248 Five-Star Kweichow Moutai Iron BottleCap 1980s 80 年代五星牌貴州茅台 鐵蓋 約 934g/915g/925g/960g/985g/983g/907g/987g/983g/947g 1252 Five-Star Kweichow Moutai Local State-owned 1980s 80 年代五星牌貴州茅台 地方國營 1237 約 1089g/1056g/1067g/1055g/1064g/1020g/1007g/1046g/1035g Five-Star Kweichow Moutai Local State-owned 1980s 80 年代五星牌貴州茅台 地方國營 1238 約 1030g/1038g/1043g/1068g/1089g/1030g/1103g/1106g/1071g/1040g/1057g/1092g Five-Star Kweichow Moutai Local State-owned1980s (Paper Wrapped) 80 年代五星牌貴州茅台 地方國營 ( 附棉紙 ) 約 1053g/1043g/1044g 1230

索引 INDEX 領取 付運及倉儲 COLLECTION, DELIVERY & STORAGE Five-Star Kweichow Moutai ThreeRevolutions 1980s 80 年代五星牌貴州茅台 三大革命 約 1028g/1046g/1048g 1240 Five-Star Kweichow Moutai Three Revolutions1980s 80 年代五星牌貴州茅台 三大革命 約 1036g/1053g/1044g/1045g/1011g/1064g 1244 Five-Star Kweichow Moutai Three Revolutions1980s 80 年代五星牌貴州茅台 三大革命 約 1051g/1049g/1010g/1004g/980g/1067g 1245 Kweichow Moutai Chinese Sports Delegation Celebration Wine 貴州茅台中國體育代表團慶功酒約 1016g/1027g/1020g/1020g 1220,1221,1222,1223,1224,1225,1226,1227,1228,1229 Lagavulin 1979,1980,1981,1984,1986,1987,1988,1989,1990,1991,1991,1993,1994,1995,1996,1995 Double matured 1382 樂加維林 1979,1980,1981,1984,1986,1987,1988,1989,1990,1991,1991,1993,1994,1995,1996,1995- 雙熟成 Lagavulin Feis Ile 2007-2012 樂加維林法蘭西島大區 2007-2012 1381 Lagavulin Islay Jazz Festival 2011,2012 樂加維林艾拉爵士音樂節 2011, 2012 1383 Lagavulin 25 樂加維林 25 1380 The Last Drop Finest Aged 1960 絕響 1960 1276 Laphroaig 30 拉弗格 30 年 1377 Laphroaig 40 拉弗格 40 年 1378,1379 Linkwood 26-1981 (Red Wine Finish,Port Finish, Rum Finish) 林可伍德 26 年 1981 ( 紅酒桶, 波特桶, 蘭姆酒桶 ) 1273,1274 Linlithgow 30-1973 林利斯哥 30 年 1973 1272 Littlemill 22 利摩坊 22 年 1271 The Macallan 1939 Gordon & MacPhail Label 麥卡倫 1939 高登及麥克菲爾標籤 1203 The Macallan Fine & Rare 1946 麥卡倫珍稀系列 1946 1208 The Macallan 1959 Gordon & MacPhail Label 麥卡倫 1959 高登及麥克菲爾標籤 1204 The Macallan 20 Albert Watson Edition 麥卡倫 20 年攝影大師系列 : 艾伯特 沃森版 1201 The Macallan 30 麥卡倫藍標 30 年 1209 The Macallan Decanter 32 麥卡倫 32 年水晶瓶裝 1202 The Macallan 55 in Lalique II 麥卡倫璀璨 55 年 1210 The Macallan 57 in Lalique III 麥卡倫璀璨 57 年 1211 The Macallan 60 in Lalique IV 麥卡倫璀璨 60 年 1212,1213 The Macallan Annie Leibovitz Edition 麥卡倫攝影大師系列第三代 : 安妮 萊柏維茲限定版 1207 Macallan - Queens Diamond Jubilee 麥卡倫女王就職紀念版 1206 The Macallan Sir Peter Blake Decades Collection 麥卡倫彼得 布萊克爵士 80 歲紀念版 1205 Mars Maltage 3 Plus 25-28 火星麦芽 3+25-28 年 1404 Meukow 1862 Esprit de famille 金豹 1862 家族紀念版干邑白蘭地 1407 Meukow Petite Champagne Cognac - 1978 金豹 1978 小香檳區干邑白蘭地 1409 Meukow Rarissime 金豹干邑白蘭地 2 升裝 1408 NIKKA Whisky 34 日華威士忌 34 年 1323 Port Ellen 1978 (8th release) 埃倫港 1978 年第八版 1370,1371 Port Ellen 1979 (3th release) 埃倫港 1979 第三版 1369,1372,1373 Port Ellen 1979 (7th release) 埃倫港 1979 第七版 1374 Port Ellen Decanter 25-1975 Silver Label 埃倫港 25 年水晶瓶裝 1375 Rémy Martin Le Jeroboam Louis XIII decanter 人頭馬路易十三干邑限量版 3 升裝 1410 Rosebank Decanter 30 羅斯班克 30 年水晶瓶裝 1975 1275 Sapporo - 1990 札幌樫樽原酒 1990 1324,1325 Springbank 32 雲頂 32 年 1282 Springbank Millennium Collection Full Set 雲頂千禧年紀念版全套 1283 Suntory - The Rolling Stones 50th Anniversary Whisky 三得利 - 滾石 50 周年紀念版 1314,1315 Tomatin 1982 湯馬丁 1982 1278 Tomatin 1997-100th Anniversary Distillery Celebration Limited Edition 湯馬丁 1997 年建廠 100 週年紀念限量版 1279,1280 Tomatin 40 湯馬丁 40 年 1277 Tullibardine - 1964 圖力巴登 1964 原酒 1281 Volare Grande Champagne Cognac X.O.Imperial 寶拉蕊皇家干邑 1411 Yamazaki 1984 山崎 1984 1309 Yamazaki Peninsula 1984 山崎 1984( 半島酒店 ) 1308 The Yamazaki 35 山崎 35 年 1310 Yamazaki 25 山崎 25 年 1312 The Yamazaki 50 山崎 50 年 1313 Yamazaki Mizunara 山崎水楢桶 1311 本目錄中之所有拍品均存放於專業酒藏空間, 買家完成付款並收到本公司之取貨通知後, 可提前 7 天預約至相應地點 ( 茅台酒取貨地為保利香港北京代表處, 威士忌取貨地為保利香港台灣代表處 ) 提取拍品 有關提貨事宜請聯絡 : 倉務及物流黃濤電話 :+852 2303 9871 / +852 9617 5737 電郵 :twong@polyauction.com.hk 保利香港北京代表處 : 中國北京東城區朝陽門北大街 1 號新保利大廈 9 層保利香港台灣代表處 : 台灣台北市中山區中山北路二段 39 巷 6 號 5 樓 ( 晶華酒店旁 ) 如已購得之拍品未有在成功拍賣後三十天領取, 公司將安排儲存事宜, 並根據本圖錄之條款及條件向買家收取儲存及保險費用, 並向買家開出發票, 須於支付所有收費後, 拍品方可接受領取及付運 公司不會負責拍品的付運, 若買方欲運輸拍品至取貨地以外的地區, 須負責所有因運輸而實際產生的關稅及運輸費 公司建議把拍品重新包裝在泡沬塑料盒以作運輸至香港以外地方 除非客戶提出重新包裝的要求, 否則所有拍品將以原包裝儲存與發放, 而任何重新包裝要求的最低收費為港幣 200 元 無論拍品是否重新被包裝, 公司不會承擔在運輸中拍品的損毀責任 All lots offered for auction in this catalogue is kept at temperature controlled storage. Buyers wishing to collect directly from the storage facility may do so by prior arrangement with 7 days' notice, once you have paid and received Poly Auction Hong Kong's Release order. (Moutai liquor can be collected at the Poly Auction Hong Kong - Beijing office, and whiskies can be collected at the Poly Auction Hong Kong - Taiwan office). For more information, please contact: Warehouse & Logistic Toto Wong Tel: +852 2303 9871 / +852 9617 5737 e-mail: twong@polyauction.com.hk Poly Auction Hong Kong - Beijing office: Floor 9, New Poly Plaza No. 1, Chaoyangmen Beidajie, Dongcheng District, Beijing, China. Poly Auction Hong Kong - Taiwan office: 5/F, No. 6, Ln. 39, Sec. 2, Zhongshan N. Rd., Zhingshan Dist., Taipei City, Taiwan. Poly Auction Hong Kong will provide complimentary storage and insurance up to 30 days after. If lots are not collected by then, Poly Auction Hong Kong will charge for storage and insurance based on the terms and conditions provided in this catalogue, with an invoice provided. Please note that all fees must be paid before lots can be released. If buyers wish to collect lots outside of the noted storage location, buyers are responsible for all taxes and fees derived from the shipment. Re-packing Service: We recommend the lots be re-packed into Styrofoam cartons for international shipment. Without clients' request, all lots will be released in the same packing that they were stored in, and any re-packing service will be charged with a minimum of HK$ 200. Regardless of whether the lots have been re-packed or not, Poly Auction (Hong Kong) Ltd does not take any responsibility for breakage of the lots during shipment.

重要通告 IMPORTANT NOTICES 目錄編列方法之說明 Explanation of Cataloguing Practice 保利香港拍賣有限公司 ( 以下稱為 保利香港拍賣 或 本公司 ) 舉辦的拍賣活動均依據本圖錄中所附之業務規則 重要通告 競投登記須知及財務付款須知進行, 參加拍賣活動的競投人須仔細閱讀並予以遵守 該等業務規則及規定可以公告或口頭通知之方式進行修改 The auction held by Poly Auction (Hong Kong) Limited (referred to as Poly Auction (Hong Kong) or our company below) are conducted according to the Conditions of Business, Important Notices, Important Notices about Bidding Registration and Important Notice about Payment, and anyone participating in the auction should read the terms carefully. These Conditions and rules may be revised by announcement or verbal notification. 下文旨在給予閣下有關如何在拍賣會上購買之實用資料 於本圖錄前部份所列之保利香港拍賣職員將樂意協助閣下 然而, 閣下務須詳閱下列資料, 並須注意保利香港拍賣乃為賣方行事 The following pages are designed to give you useful information on how to buy at auction. Poly Auction (Hong Kong) s staff as listed at the front of this catalogue will be happy to assist you. However, it is important that you read the following information carefully and note that Poly Auction (Hong Kong) acts for the seller. 展品之出處在某些情況下, 若展品出處之資料擁有學術價值或是為人熟悉且能協助鑑別該展品, 保利香港拍賣會在圖錄內刊印有關資料 但基於不同理由, 賣方或上手物主之身份或不會被揭露, 如因應賣方要求將身份保密或因展品年代久遠以致上手物主之身份不詳等 PROVENANCE In certain circumstances, Poly Auction (Hong Kong) may print in the catalogue the history of ownership of a work of art if such information contributes to scholarship or is otherwise well known and assists in distinguishing the work of art. However, the identity of the seller or pervious owners may not be disclosed for a variety of reasons. For example, such information may be excluded to accommodate a seller s request for confidentiality or because the identity of prior owners is unknown given the age of the work of art. 買家支付之佣金買家應支付本公司佣金 拍品門類 : 中國及亞洲現當代藝術及珠寶鐘錶, 按每件拍賣品落槌價首港幣 1,000,000 元之 18%, 及逾港幣 1,000,000 元之部份則以 15% 計算 ; 拍品門類 : 中西名酒珍釀, 按每件拍品落槌價之 18% ; 其餘拍品門類按每件拍品落槌價之 15% 計算 BUYER S PREMIUM A buyer s premium will be added to the Hammer Price and is payable by the buyer as part of the total purchase price. The buyer s premium is 18% of the hammer price of each lot up to and including HKD 1,000,000; and 15% of the excess of the hammer price above HKD 1,000,000 for Chinese & Asian Modern and Contemporary Art and Jewels & Watches. It is 18% of the hammer price of each lot for Chinese & Western Wine and 15% of the hammer price of each lot for the rest categories. 拍賣品之狀況競投人應於拍賣前之展覽會上審看拍賣品, 並對自己的競投行為承擔法律責任 如欲進一步瞭解拍賣品資料, 請向業務人員諮詢 如圖錄中未說明拍賣品之狀 況, 不表示該拍賣品沒有缺陷或瑕疵 CONDITIONS OF THE PROPERTIES Bidder must review the Properties in the exhibition before the auction, and bear legal responsibilities of his/ her bidding acts. For more information on the Properties, please consult our business staff. If the conditions of a Property are not described in the catalogue, this does not mean that the Property has no weakness or defects. 受限制物料附有 符號之拍賣品於編制圖錄當時已識別為含有受限制物料, 而有關物料可能受到進出口之限制 有關資料為方便競投人查閱, 而無附有該符號並非保證該拍賣品並無進出口之限制 由植物或動物材料 ( 如珊瑚 鱷魚 象牙 鯨骨 玳瑁 犀牛角及巴西玫瑰木等 ) 製成或含有植物或動物材料之物品, 不論其年份或價值, 均可能須申領許可證或證書方可出口至香港境外, 且由香港境外國家進口時可能須申領其他許可證或證書 務請注意, 能取得出口許可證或證書並不能確保可在另一國家取得進口許可證或證書, 反之亦然 例如, 將歷時不足 100 年之象牙進口至美國即屬非法 競投人應向相關政府查核有關野生動物植物進口之規定後再參與競投 買家須負責取得任何出口或進口許可證或證書, 以及任何其他所需文件 RESTRICTED MATERIALS Properties with symbol have been identified to be made of or containing restricted materials at the time of compiling the catalogue, and the materials concerned may be subject to import and export restraints. Properties without this symbol do not guarantee that those Properties are not subject to import and export restraints. For items made of botanic or animal materials (coral, crocodile, ivory, whale bone, tortoise, rhinoceros horn and Brazilian Rosewood, etc.) or containing botanic oranimal materials, regardless of their year or value, may require application for permits or certificates before exporting outside Hong Kong, and other application for permits or certificates may be required when importing into countries outside Hong Kong. Please pay attention that the ability to obtain export permits or certificates does not ensure that import permits or certificates can be obtained in another country, and vice versa. For example, importing ivory of less than 100 years is illegal in the USA. Bidders should enquire about the import regulations on products made of or containing wild animals and plants materials of the governments concerned before participating in an auction. Buyers must be responsible for obtaining any export or import permits/ or certificates and any other documents required. 電器及機械貨品所有電器及機械貨品只按其裝飾價值出售, 不應假設其可運作 電器在作任何用途前必須經合格電器技師檢驗和批核 ELECTRICAL APPLIANCES AND MECHANICAL MERCHANDISES All electrical appliances and mechanical merchandises are sold as is, and should not be assumed that they operate. Before putting into any use, electrical appliances must be inspected and approved by qualified electric technicians. 語言文本本公司業務規則 重要通告 目錄編列方法之說明 競投登記須知 財務付款通知及載於圖錄或由拍賣官公佈或於拍賣會場以通告形式提供之所有其他條款 條件 通知 表格等文件以及本圖錄中拍賣品之描述, 均以中文文本為準, 英文文本僅為參考文本 LANGUAGE The Chinese version of the Conditions of Business, Important Notice, Explanation of Cataloguing Practice, Important Notice about Bidding Registration, Important Notice about Payment, and all other documents such as the terms, conditions, notices, forms etc. contained in this catalogue, announced by the auctioneer or provided at the saleroom as well as the descriptions of the Properties in this catalogue of our company shall be binding and the English version is for reference only. 版權本圖錄版權屬本公司所有 未經本公司書面許可, 不得以任何形式對本圖錄的任何部分進行複製或進行其他任何形式的使用 COPYRIGHT The copyright of this catalogue belongs to our company. Without the written permission of our company, no parts of this catalogue shall be reproduced in any ways or used in any other ways. 解釋權本公司業務規則 重要通告 目錄編列方法之說明 競投登記須知 財務付款須知及載於圖錄或由拍賣官公佈或於拍賣會場以通告形式提供之所有其他條款 條件 通知 表格等文件的解釋權均由本公司行使 RIGHT OF INTERPRETATION The right of interpretation in respect of the Conditions of Business, Important Notice, Explanation of Cataloguing Practice, Important Notice about Bidding Registration, Important Notice about Payment, and all other documents such as the terms, conditions, notices, forms etc. contained in this catalogue, announced by the auctioneer or provided at the sales room, shall be exercised by our company. 保利香港拍賣在受委託拍賣品中的權益保利香港拍賣可能不時提供其或其附屬公司部分或全部擁有之拍賣品 該等拍賣品於目錄中其拍賣編號旁註有 Δ 號, 以供識別 保利香港拍賣有時在受委託出售的拍賣品中有直接的財政權益, 這可能包括保証最低出售價格或以受委託拍賣品作抵押預先支付委託人該等拍賣品於目錄中其拍賣編號旁註有 號以供識別 倘若保利香港拍賣在目錄中的每一項拍賣品均有著擁有或財政權益, 則保利香港拍賣將不在每一項拍賣品旁註上符號, 但將於目錄的前部份聲明其權益 POLY AUCTION (HONG KONG) INTEREST IN PROPERTY CONSIGNEDFOR AUCTION From time to time, Poly Auction (Hong Kong) may offer a lot which it owns in whole or in part. Such property is identified in the catalogue with the symbol Δ next to the lot number. On occasion, Poly Auction (Hong Kong) has a direct financial interest in lots consigned for sale which may include guaranteeing a minimum price or making an advance to the consignor that is secured solely by consigned property. Such property is identified in the catalogue by the symbol next to the lot number. This symbol will be used both in cases where Poly Auction (Hong Kong) holds the financial interest on its own, and in cases where Poly Auction (Hong Kong) has financed all or a part of such interest through a third party. Such third parties generally benefit financially if a guaranteed lot is sold successfully and may incur a loss if the sale is not successful. The financing offered by a third party may be in the form of an irrevocable bid provided by that third party. Where Poly Auction (Hong Kong) has an ownership or financial interest in every lot in the catalogue, Poly Auction (Hong Kong) will not designate each lot with a symbol, but will state its interest at the front of the catalogue. 所有量度皆為約數狀況報告保利香港拍賣目錄只會在多類型作品 例如印刷品 書本及酒類 的描述中提及狀況事宜 至於其他所有拍賣品, 除列明重整或替換部分外, 均無其他狀況聲明 如欲索取某拍賣品的狀況報告, 請與專家聯絡 狀況報告乃保利香港拍賣向有興趣客戶提供的一項服務 準買家應注意每項拍賣品均以現狀出售, 拍賣品的描述並不可作保証 ALL DIMENSIONS ARE APPROXIMATE CONDITION REPORTS Poly Auction (Hong Kong) catalogues include references to condition only in descriptions of multiple works (such as prints, books and wine). For all other property, no statement of condition is made and only alterations or replacement components are listed. Please contact the Specialist Department for a condition report on a particular lot. Condition reports are provided as a service to interested clients. Prospective buyers should note that descriptions of property are not warranties and that each lot is sold as is. 本目錄採用之貨幣兌換率 7.8 港元 =1 美元本目錄中標示的貨幣兌換率是根據目錄付印時的兌換率設定, 可能與拍賣當日兌換率有差別 競投者請注意, 所有貨品的估價均是多月前擬定, 並非一成不變, 拍賣時可能會偏出調整 CATALOGUE EXCHANGE RATE HK$7.8 = US$1 The rate of exchange was established at the latest practical date prior to the printing of the catalogue and may therefore have changed by the time of the sale. Bidders should bear in mind that estimates are prepared well in advance of the sale and are not definitive. They are subject to revision. 目錄編列方法之說明有關相片 圖畫 印刷品及微型書畫之規定下列詞語於本目錄中具有以下意義 請注意本目錄中有關作者身份的所有聲明均按照本公司之業務規則及有限保証的條款而作出 買家應親自檢視各拍賣品的狀況, 亦可向保利香港拍賣要求提供書面狀況報告 目錄內註明藝術家之姓名或認可名稱之作品, 保利香港拍賣無條件地認為是屬於該藝術家之作品 * 認為是 _ 之作品 指以保利香港拍賣合資格之意見認為, 某作品大概全部或部份是藝術家之創作 * _ 之創作室 及 _ 之工作室 指以保利香港拍賣合資格之意見認為, 某作品在某藝術家之創作室或工作室完成, 可能在他監督下完成 * _ 時期 指以保利香港拍賣合資格之意見認為, 某作品屬於某藝術家一個時期之創作, 並且反映出該藝術家之創作風格 * 跟隨 _ 風格 指以保利香港拍賣合資格之意見認為, 某作品具有某藝術家之風格, 但未必是該藝術家門生之作品 * 具有 _ 創作手法 指以保利香港拍賣合資格之意見認為, 某作品具有某藝術家之風格, 但於較後時期完成 * _ 複製品 指以保利香港拍賣合資格之意見認為, 某作品是某藝術家作品之複製品 ( 任何日期 ) * 簽名 _ 日期 _ 題寫 _ 指以保利香港拍賣合資格之意見認為, 某作品由某藝術家簽名 / 寫上日期 / 題詞 * 附有 _ 簽名 附有 _ 之題詞 指以保利香港拍賣合資格之意見認為某簽名 / 題詞應不是某藝術家所為 * 附有 _ 日期 指以保利香港拍賣合資格之意見認為, 並非於該日期完成 * 於本目錄編列方法之說明中此詞語及其定義為對作者身份而言之有規限說明 雖然本詞語之使用, 乃基於審慎研究及代表專家之意見, 保利香港拍賣及委託人於目錄內使用此詞語及其所描述之拍賣品及其作者身份之真確及可信性, 並不承擔及接受任何風險 義務或責任, 而有限保証條款, 亦不適用於以此詞語所描述的拍賣品 EXPLANATION OF CATALOGUING PRACTICE For Pictures, Drawings, Prints and Miniatures Terms used in this catalogue have the meanings ascribed to them below. Please note that all statements in this catalogue as to authorship are made subject to the provisions of the Conditions of Business and Limited Warranty. Buyers are advised to inspect the property themselves. Written condition reports are usually available on request. Name(s) or Recognised Designation of an Artist without any Qualification In Poly Auction (Hong Kong) s opinion a work by the artist. * Attributed to... In Poly Auction (Hong Kong) s qualified opinion probably a work by the artist in whole or in part. * Studio of... / Workshop of... In Poly Auction (Hong Kong) s qualified opinion a work executed in the studio or workshop of the artist, possibly under his supervision. * Circle of... In Poly Auction (Hong Kong) s qualified opinion a work of the period of the artist and showing his influence. * Follower of... In Poly Auction (Hong Kong) s qualified opinion a work executed in the artist s style but not necessarily by a pupil. * Manner of... In Poly Auction (Hong Kong) s qualified opinion a work executed in the artist s style but of a later date. * After... In Poly Auction (Hong Kong) s qualified opinion a copy (of any date) of a work of theartist. * Signed... / Dated... / Inscribed... In Poly Auction (Hong Kong) s qualified opinion the work has been signed/dated/inscribed by the artist. * With signature... / With inscription... / In Poly Auction (Hong Kong) s qualified opinion the signature/inscription appears to be by a hand other than that of the artist. * With date... In Poly Auction (Hong Kong) s qualified opinion the date on the item was not executed on that date. * This term and its definition in this Explanation of Cataloguing Practice are a qualified statementas to authorship. While the use of this term is based upon careful study and represents the opinion of specialists, Poly Auction (Hong Kong) and the consignor assume no risk, liability and responsibility for the authenticity of authorship of any lot in this catalogue described by this term, and the Limited Warranty shall not be available with respect to lots described using this term.

業務規則 第一章總則 第一條保利香港拍賣有限公司作為代理人除另有約定外, 保利香港拍賣有限公司作為賣家之代理人 拍賣品之成交合約則為賣家與買家之間的合約 本規則 載於圖錄或由拍賣官公佈或於拍賣會場以通告形式提供之所有其他條款 條件及通知均構成賣家 買家及 / 或保利香港拍賣有限公司作為拍賣代理之協定條款 第二條定義及釋義 ( 一 ) 本規則各條款內, 下列詞語具有以下含義 : (1) 本公司 指保利香港拍賣有限公司 ; (2) 賣家 指委託本公司業務規則規定範圍內拍賣品的自然人 法人或者其它組織 本規則中除非另有說明或根據文義特殊需要, 賣家均包括賣家的代理人 ( 不包括本公司 ) 遺囑執行人或遺產代理人 ; (3) 競投人 指以任何方式考慮 作出或嘗試競投之任何人士 公司 法團或單位 本規則中, 除非另有說明或根據文義特殊需要, 競投人均包括競投人的代理人 ; (4) 買家 指在本公司舉辦的拍賣活動中, 拍賣官所接納之最高競投價或要約之競投人包括以代理人身份競投之人士之委託人 ; (5) 買家須支付之佣金 指買家根據本規則所載費率按落槌價須向本公司支付之佣金 ; (6) 拍賣品 指賣家委託本公司進行拍賣及於拍賣會上被拍賣的物品, 尤其指任何圖錄內編有任何編號而加以說明的物品 ; (7) 拍賣日 指本公司通告公佈的正式進行拍賣交易之日 若公佈的開始日期與開始拍賣活動實際日期不一致, 則以拍賣活動實際開始之日為准 ; (8) 拍賣成交日 指在本公司舉辦的拍賣活動中拍賣官以落槌或者以其他公開表示買定的方式確認任何拍賣品達成交易的日期 ; (9) 拍賣官 指本公司指定主持某場拍賣的人員 ; (10) 落槌價 指拍賣官落槌決定將拍賣品售予買家的價格, 或若為拍賣會後交易, 則為協定出售價 ; (11) 出售所得款項淨額 指支付賣家的款項淨額, 該淨額為落槌價減去按比率計算的佣金 各項費用及賣家應支付本公司的其他款項後的餘額 ; (12) 購買價款 指買家因購買拍賣品而應支付的包括落槌價 全部佣金 應由買家支付的其它各項費用以及因買家不履行義務而應當支付的所有費用在內的總和 ; (13) 買家負責的各項費用 指與本公司出售拍賣品相關的支出和費用, 包括但不限於本公司對拍賣品購買保險 包裝 運輸 儲存 保管 買家額外要求的有關任何拍賣品之測試 調查 查詢或鑒定之費用或向違約買家追討之開支 法律費用等 ; (14) 保留價 指賣家與本公司確定的且不公開之拍賣品之最低售價 ; (15) 估價 指在拍賣品圖錄或其他介紹說明文字之後標明的拍賣品估計售價, 不包括買家須支付之內佣金 ; (16) 儲存費 指買家按本規則規定應向本公司支付的儲存費用 ( 二 ) 在本規則條款中, 根據上下文義, 單數詞語亦包括複數詞語, 反之亦然 第三條適用範圍凡參加本公司組織的拍賣活動的當事人各方, 包括賣家 競投人 買家和其他相關各方 ( 包括但不限於賣家 競投人 買家或買家的代理人 ), 均應視為完全接受本規則條款的約定, 受本規則約束, 在本公司組織的拍賣活動中遵守本規則的規定, 享有本規則規定的權利, 承擔本規則規定的義務 如書面協定與本規則不一致的部分, 以書面協定為准 在本公司組織的拍賣活動中參與競投的競投人, 無論是自己親自出席或者由代理人出席競投, 無論是以在拍賣活動中舉牌競投, 還是以委託競投 電話或任何其他方式競投, 均被視為完全接受本規則 參加本公司組織的拍賣活動的當事人各方之間發生的各種爭議, 均應按照本規則的約定加以解決 第四條特別提示凡參加本公司拍賣活動的競投人和買家應仔細閱讀並遵守本規則 競投人及 / 或買家應特別仔細閱讀本規則所載之本公司之責任及限制 免責條款 競投人及 / 或其代理人有責任親自審看拍賣品原物, 並對自己競投拍賣品的行為承擔法律責任 在本公司舉辦的拍賣活動中, 競投人的應價經拍賣官落槌或者以其他公開表示買定的方式確認時, 即表明關於拍賣品的買賣合同關係已合法生效, 該競投人即成為該拍賣品的買家 本公司 賣家及買家應承認拍賣品已出售 成交的事實, 並享有法律規定及本規則約定的權利, 承擔法律規定和本規則約定的義務 任何一方不履行義務的均應承擔相應的法律責任 本公司可以通過在拍賣會場張貼公告或者通過拍賣官在拍賣會上宣佈的方式對本規則進行修改 第二章關於賣家 第五條委託程式賣家委託本公司拍賣其物品時 : ( 一 ) 賣家若為自然人, 必須憑政府發出附有照片的身份證明文件 ( 如居民身份證或護照 ) 並與本公司簽署委託拍賣合同 ; ( 二 ) 賣家若為法人或其他組織的, 應持有效註冊登記文件 股東證明文件或者合法的授權委託證明文件, 並與本公司簽署委託拍賣合同 ; ( 三 ) 賣家與本公司簽署委託拍賣合同時, 即自動授權本公司對該物品自行製作照片 圖示, 圖錄或其它形式的影像製品 第六條賣家之代理人代理賣家委託本公司拍賣物品的, 應向本公司出具相關委託證明文件 包括 : ( 一 ) 若為自然人的, 必須持有有效身份證明 ; ( 二 ) 賣家的代理人若為法人或者其他組織的, 須持有有效註冊登記文件 股東證明文件 ; ( 三 ) 經合法程式做出的授權委託書 本公司有權對上述檔以合法的方式進行核查 第七條賣家之保證賣家就其委託本公司拍賣的拍賣品不可撤銷地向本公司及買家保證如下 : ( 一 ) 其對該拍賣品擁有絕對的所有權或享有合法的處分權, 對該拍賣品的拍賣不會侵害任何第三方的合法權益 ( 包括著作權權益 ), 亦不違反相關法律 法規的規定 ; ( 二 ) 其已盡其所知, 就該拍賣品的來源和瑕疵向本公司進行了全面 詳盡的披露和說明並以書面形式通知本公司, 不存在任何隱瞞或虛構之處 ; ( 三 ) 若委託拍品由外地進口香港, 賣家應保證符合來源地法律, 並且進出口手續完成並以書面形式通知本公司 ; ( 四 ) 如果其違反上述保證, 造成拍賣品的實際所有權人或聲稱擁有權利的任何第三方提出索賠或訴訟, 致使本公司及 / 或買家蒙受損失時, 則賣家應負責賠償本公司及 / 或買家因此所遭受的一切損失, 並承擔因此而發生的一切費用和支出 第八條保留價除本公司與賣家約定無保留價的拍賣品外, 所有拍賣品均設有保留價 保留價由本公司與賣家通過協商書面確定 保留價數目一經雙方確定, 其更改須事先徵得對方同意 經賣家授權之拍賣標的未成交之後, 拍賣方有權以其保留價在該次拍賣會後出售, 賣家須向拍賣方支付佣金 在任何情況下, 本公司不對某一拍賣品在本公司舉辦的拍賣會中未達保留價不成交而承擔任何責任 第九條本公司的決定權本公司對下列事宜擁有完全的決定權 : ( 一 ) 通過拍賣品圖錄及 / 或新聞媒體及 / 或其它載體對任何拍賣品做任何內容說明及 / 或評價 ; ( 二 ) 是否應徵詢任何專家意見 ; ( 三 ) 拍賣品在圖錄中插圖 拍賣品展覽及其它形式的 拍賣品宣傳, 推廣活動中的安排及所應支付費用的標準 ; ( 四 ) 某拍賣品是否適合本公司拍賣 ; ( 五 ) 拍賣日期 拍賣地點 拍賣條件及拍賣方式等事宜 第十條未上拍拍賣品賣家與本公司簽署委託拍賣合同且將拍賣品交付本公司後, 若因任何原因致使本公司認為某拍賣品不適合由本公司拍賣的, 則賣家應自本公司發出通知之日起三十日內取回該拍賣品 ( 包裝及搬運等費用自負 ), 本公司與賣家之間的委託拍賣合同自賣家領取該拍賣品之日解除 若拍賣人未在上述期限內取走拍賣品, 則本公司與賣家之間的委託拍賣合同自上述期限屆滿之日即告解除 若賣家在委託拍賣合同解除後七日內仍未取走拍賣品, 本公司有權收取儲存費 保險費及其他合理支出, 本公司亦有權以本公司認為合理的方式處置該拍賣品, 處置所得在扣除本公司因此產生之全部費用後, 若有餘款, 由賣家自行取回 第十一條拍賣中止如出現下列情況之一, 本公司有權在實際拍賣前的任何時間中止任何拍賣品的拍賣活動 : ( 一 ) 本公司對拍賣品的歸屬或真實性持有異議 ; ( 二 ) 第三方對拍賣品的歸屬或真實性持有異議且能夠提供異議所依據的相關證據材料, 並按照本公司規定交付擔保金, 同時願意對中止拍賣活動所引起的法律後果及全部損失承擔相應責任 ; ( 三 ) 對賣家所作的說明或對本規則第七條所述賣家保證的準確性持有異議 ; ( 四 ) 有證據表明賣家已經違反或將要違反本規則的任何條款 ; ( 五 ) 本公司認為應當中止的其他任何原因 ; ( 六 ) 無論何種導致拍賣中止, 如本公司得知賣家寄售之拍品涉及權屬或其他爭議時, 本公司有權暫不予辦理退貨手續, 待爭議解決後再予辦理相關手續 第十二條賣家撤回拍賣品賣家在拍賣日前任何時間, 均可向本公司發出書面通知, 撤回其拍賣品 但撤回拍賣品時, 若該拍賣品已列入圖錄或其它宣傳品已開始印刷, 則賣家應支付相當於該拍賣品保留價之百分之二十的款項及其它各項費用 如圖錄或任何其它宣傳品尚未印刷, 也需支付相當於該拍賣品保留價之百分之十的款項及其它各項費用 因賣家撤回拍賣品而引起的任何爭議或索賠均由賣家自行承擔, 與本公司無關 第十三條自動受保除賣家另有書面指示外, 在賣家與本公司訂立委託拍賣合同並將拍賣品交付本公司後, 所有拍賣品將自動受保於本公司的保險, 保險金額以本公司與賣家在委託拍賣合同中確定的保留價為準 ( 無保留價的, 以該拍賣品的約定的保險金額為準 調整拍賣保留價的, 以該拍賣品原保留價為準 ) 此保險金額只適用於保險和索賠, 並非本公司對該拍賣品價值的保證或擔保, 也不意味著該拍賣品由本公司拍賣, 即可售得相同於該保險金額之款項 第十四條保險費拍賣成交後, 除非賣家與本公司另有約定, 賣家應支付相當於落槌價百分之一的保險費 如拍賣品未成交, 賣家也應支付相當於保留價百分之一的保險費 第十五條保險期間如果拍賣品拍賣成交, 保險期限至拍賣成交日起第三十日 ( 含成交日 ) 終止或買家領取拍賣品之日終止 ( 以二者中較早者為準 ) 如果拍賣品拍賣未能成交, 則保險期限至本公司發出領回拍賣品的通知之日起三十日屆滿為止 第十六條賣家安排保險如賣家以書面形式告知本公司不需投保其拍賣品, 則風險由賣家自行承擔 同時, 賣家還應隨時承擔以下責任 : ( 一 ) 對其他任何權利人就拍賣品的毀損 滅失向本公 司提出的索賠或訴訟做出賠償 ; ( 二 ) 賠償本公司及 / 或任何他方因任何原因造成拍賣品毀損 滅失等所遭受的全部損失及所支出的全部費用 ( 三 ) 將本條所述的賠償規定通知該拍賣品的任何承保人 第十七條保險免責因自然磨損 固有瑕疵 內在或潛在缺陷 物質本身變化, 自燃 自熱 氧化 鏽蝕 滲漏 鼠咬 蟲蛀 大氣 ( 氣候或氣溫 ) 變化 濕度或溫度轉變或其它漸變原因以及因地震 海嘯 戰爭 敵對行為 武裝衝突 恐怖活動 政變 罷工 社會騷亂等不可抗力及核輻射及放射性污染對拍賣品造成的任何毀損 滅失, 以及由於任何原因造成的圖書框架或玻璃 囊匣 底墊 支架 裝裱 插冊 軸頭或類似附屬物的毀損 滅失, 不在保險理賠範圍之內 第十八條保險賠償凡屬因本公司為拍賣品所購保險承保範圍內的事件或災害所導致的拍賣品毀損 滅失, 應根據香港有關保險的法律和規定處理 本公司在向保險公司進行理賠並獲得保險賠償後, 將保險賠款扣除本公司費用 ( 佣金除外 ) 的餘款支付給賣家 第十九條競投禁止賣家不得競投自己委託本公司拍賣的物品也不得委託他人代為競投 唯本公司有權代賣家以不超過保留價之價格參考競投 若違反本條規定, 賣家應自行承擔相應之法律責任, 並賠償因此給本公司造成的全部損失 第二十條佣金及費用除賣家與本公司另有約定外, 賣家授權本公司按落槌價之百分之十扣除佣金, 同時扣除其它各項費用 儘管本公司是賣家的代理人, 但賣家同意本公司可根據本規則第四十九條的規定向買家收取佣金及其它各項費用 第二十一條未成交手續費如果某拍賣品的競投價低於保留價而未能成交, 則賣家授權本公司向其收取未拍出手續費及其它各項費用 第二十二條出售所得款項淨額支付如買家已按本規則第四十九條的規定向本公司付清全部購買價款, 則本公司應自拍賣成交日起三十五日後將出售所得款項淨額以港幣方式支付賣家 第二十三條延遲付款如本規則第五十一條規定的付款期限屆滿, 本公司仍未收到買家的全部購買價款, 則本公司將在收到買家支付的全部購買價款之日起七個工作日內將出售所得款項淨額支付賣家 第二十四條賣家稅項賣家所得的出售所得款項淨額應向政府納稅, 如有關法律規定本公司有代扣代繳義務的, 本公司將依照法律規定執行, 賣家應協助辦理所有手續, 並承擔相應稅費 第二十五條協助收取拖欠款項賣家在委託本公司拍賣其物品的同時, 被視為授權本公司有權代賣家向買家追索相應拖欠價款 如買家在拍賣成交日 ( 含成交日 ) 起七日內未向本公司付清全部購買價款, 本公司除有權按照本規則第五十八條之約定向買家追索其應付的佣金及其他各項費用外, 亦有權在本公司認為實際可行的情況下, 採取適當措施 ( 包括但不限於通過法律途徑解決 ) 協助賣家向買家收取拖欠的款項 上述約定並不排除賣家親自或委託任何第三方向買家追索相應拖欠款項的權利, 亦不賦予本公司在任何情況下代賣家向買家追索相應拖欠價款的義務 本公司在任何情況下不應因買家未能支付購買價款而向賣家承擔相應責任 第二十六條本公司有權決定本公司有權接受賣家授權 ( 由賣家支付費用 ) 並視具體情況決定下列事項 : ( 一 ) 同意購買價款以特殊付款條件支付 ; ( 二 ) 搬移 貯存及投保已出售的拍賣品 ; ( 三 ) 根據本規則有關條款, 解決買家提出的索賠或賣家提出的索賠 ; ( 四 ) 採取其他必要措施收取買家拖欠賣家的款項 第二十七條拍賣品未能成交 ( 一 ) 拍賣後交易由本公司與賣家重新商議確定委託拍賣品的保留價並代為出售, 本公司支付賣家不少於以新的保留價出售時應支付的出售所得款項淨額 ( 二 ) 重新上拍 佣金及費用標準以原委託拍賣合同約定為準 ( 三 ) 取回拍品賣家應自收到本公司領取通知之日起三十日內取回該拍賣品 ( 包裝及搬運費用自負 ), 並向本公司支付未拍出手續費及其他各項費用 超過上述期限, 本公司有權收取儲存費 保險費及其它合理支出, 本公司亦有權以公開拍賣或其他出售方式按本公司認為合適的條件出售該拍賣品, 並有權從出售所得款項淨額中扣除第一次拍賣中賣家應支付的未拍出手續費及其他各項費用及再次拍賣該拍賣品的所有費用, 將餘款支付賣家 第二十八條風險承擔無論是未上拍或未能成交的拍賣品, 賣家均應對其超過本規則規定期限未能取回其拍賣品而在該期限後所發生之一切風險及費用自行承擔責任 自本公司向賣家發出領回拍賣品的通知之日 ( 含通知日 ) 起第三十日, 或自委託人按本規則約定領取拍賣品之時 ( 以先到者為準 ), 未上拍或未能成交拍賣品的一切風險及費用由賣家承擔 如賣家在本規則規定期限內要求本公司協助其退回拍賣品並經本公司同意, 拍賣品自離開本公司指定地點後的一切風險及費用由賣家承擔 除非賣家特別指明並預先支付保險費, 本公司無義務對拍賣品在離開本公司指定地點後予以投保 如賣家要求本公司協助以郵寄 快遞或其他通過第三方的運輸方式退回其拍賣品, 一旦本公司將拍賣品交付郵寄 快遞 運輸部門 公司或其雇員分支機搆, 則視為本公司已退回該拍賣品, 同時應視為賣家已領取該拍賣品 第三章關於競投人與買家 第二十九條競投人及本公司有關出售拍賣品之責任 ( 一 ) 本公司對各拍賣品之認知部分依賴於賣家提供之資料, 本公司無法及不會就拍賣品進行全面盡職檢查 競投人知悉此事, 並承擔檢查及檢驗拍賣品原物之責任, 以使競投人滿意其可能感興趣之拍賣品 ( 二 ) 本公司出售之各拍賣品於出售前可供競投人審看 競投人及 / 或其代理人參與競投, 即視為競投人已在競投前全面檢驗拍賣品, 並滿意拍賣品之狀況及其描述之準確性 ( 三 ) 競投人確認眾多拍賣品年代久遠及種類特殊, 意味拍賣品並非完好無缺 所有拍賣品均以拍賣時之狀態出售 ( 無論競投人是否出席拍賣 ) 狀況報告或可於審看拍賣品時提供 圖錄描述及狀況報告在若干情況下可用作拍賣品某些瑕疵之參考 然而, 競投人應注意拍賣品可能存在其他在圖錄或狀況報告內並無明確指出之瑕疵 ( 四 ) 提供予競投人有關任何拍賣品之資料, 包括任何預測資料 ( 無論為書面或口述 ) 及包括任何圖錄所載之資料 規則或其他報告 評論或估值, 該等資料並非事實之陳述, 而是本公司所持有之意見之聲明, 該等資料可由本公司不時全權酌情決定修改 ( 五 ) 本公司或賣家概無就任何拍賣品是否受任何版權所限或買家是否已購買任何拍賣品之版權發出任何聲明或保證 ( 六 ) 受本規則第二十九 ( 一 ) 至二十九 ( 五 ) 條所載事項所規限及本規則第三十條所載特定豁免所規限, 本公司應基於 (1) 賣家向本公司提供的資料 ;(2) 學術及技術知識 ( 如有 ); 及 (3) 相關專家普遍接納之意見, 以合理審慎態度發表 ( 且與本規則中有關本公司作為拍賣代理的條款相符 ) 載於圖錄描述或狀況報告之明示聲明 第三十條對買家之責任豁免及限制 ( 一 ) 如本公司視拍賣品為贋品, 將落槌價連同買家佣金退還予買家 ( 二 ) 受本規則第二十九條之事項所規限及受規則第三十 ( 一 ) 及三十 ( 五 ) 條所規限, 本公司無須 : (1) 對本公司向競投人以口述或書面提供之資料之任何錯誤或遺漏負責, 無論是由於疏忽或因其他原因引致, 惟本規則第二十九 ( 六 ) 條所載者則除外 ; (2) 向競投人作出任何擔保或保證, 且賣家委託本公司向買家作出之明示保證以外之任何暗示保證及規則均被排除 ( 惟法律規定不可免除之該等責任除外 ); (3) 就本公司有關拍賣或有關出售任何拍賣品之任何事宜之行動或遺漏 ( 無論是由於疏忽或其他原因引致 ) 向任何競投人負責 ( 三 ) 除非本公司擁有出售之拍賣品, 否則無須就賣家違反本規則而負責 ( 四 ) 在不影響規則第三十 ( 二 ) 條之情況下, 競投人向本公司或賣家提出之任何索賠以該拍賣品之落槌價連同買家佣金為限 本公司或賣家在任何情況下均無須承擔買家任何相應而產生的損失 ; ( 五 ) 本規則第六條概無免除或限制本公司有關本公司或賣家作出之任何具欺詐成份之失實聲明或有關本公司 或賣家之疏忽行為或遺漏而導致之人身傷亡之責任 第三十一條拍賣品圖錄及其他說明為便於競投人及賣家參加本公司舉辦的拍賣活動, 本公司製作拍賣品圖錄, 以文字及 / 或圖片的形式, 對拍賣品之狀況進行簡要陳述 拍賣品圖錄中的文字 估價, 圖片或其它形式的影像製品和宣傳品, 僅供競投人參考, 並可於拍賣前修訂, 不表明本公司對拍賣品的真實性 價值 色調 質地有無缺陷等所作的擔保 第三十二條圖錄之不確定性因印刷或攝影等技術原因造成拍賣品在圖錄及 / 或其它任何形式的圖示, 影像製品和宣傳品中的色調 顏色 層次 形態等與原物存在誤差者, 以原物為準 本公司及其工作人員或其代理人對任何拍賣品用任何方式 ( 包括證書 圖錄 幻燈投影 新聞載體等 ) 所作的介紹及評價, 均為參考性意見, 不構成對拍賣品的任何擔保 本公司及其工作人員或其代理人對上述之介紹及評價中的不準確或遺漏之處不承擔責任 第三十三條保留價及估價凡本公司拍賣品未標明或未標明無保留價的, 均設有保留價 保留價一般不高於本公司於拍賣前公佈或刊發的拍賣前最低估價 如拍賣品未設保留價, 除非已有競投, 否則拍賣官有權自行決定起拍價, 但不得高於拍賣品的拍賣前最低估價 在任何情況下, 本公司不對拍賣品在本公司舉辦的拍賣會中未達保留價不成交而承擔任何責任 若拍賣品競投價格低於保留價, 拍賣官有權自行決定以低於保留價的價格出售拍賣品 但在此種情況下, 本公司向賣家支付之款項為按保留價出售拍賣品時賣家應可收取之數額 估價在拍賣日前較早時間估定並非確定之售價, 不具有法律約束力 任何估價不能作為拍賣品落槌價之預測, 且本公司有權不時修訂已作出之估價 第三十四條競投人之審看責任競投人及 / 或其代理人有責任自行瞭解有關拍賣品的實際狀況並對自己競投某拍賣品的行為承擔法律責任 本公司鄭重建議, 競投人應在拍賣日前, 以鑒定或其它方式親自審看擬競投拍賣品之原物, 自行判斷該拍賣品是否與本公司拍賣品圖錄以及其它形式的影像製品和宣傳品所描述相符合, 而不應依圖錄及影像製品和宣傳品的描述做出決定 第三十五條競投人登記競投人為個人的應在拍賣日前憑政府發出附有照片的身份證明文件 ( 如居民身份證或護照 ) 填寫並簽署登記文件並提供現時住址證明 ( 如公用事業賬單或銀行月結單 ); 競投人為公司或者其他組織的, 應在拍賣日前憑有效的註冊登記文件 股東證明文件以及合法的授權委託證明文件填寫並簽署登記文件, 領取競投號牌 本公司可能要求競投人出示用作付款的銀行資料或其他財政狀況證明 第三十六條競投號牌本公司可根據不同拍賣條件及拍賣方式等任何情況, 在拍賣日前公佈辦理競投號牌的條件和程式包括但不限於制定競投人辦理競投號牌的資格條件 本公司鄭重提示, 競投號牌是競投人參與現場競價的唯一憑證 競投人應妥善保管, 不得將競投號牌出借他人使用 一旦丟失, 應立即以本公司認可的書面方式辦理掛失手續 無論是否接受競投人的委託, 凡持競投號牌者在拍賣活動中所實施的競投行為均視為競投號牌登記人本人所為, 競投人應當對其行為承擔法律責任, 除非競投號牌登記人本人已以本公司認可的書面方式在本公司辦理了該競投號牌的掛失手續 第三十七條競投保證金競投人參加本公司拍賣活動, 應在領取競投號牌前交納競投保證金 競投保證金的數額由本公司在拍賣日前公佈, 且本公司有權減免競投保證金 若競投人未能購得拍賣品且對本公司無任何欠款, 則該保證金在拍賣結束後十四個工作日內全額無息返還競投人 ; 若競投人成為買家, 則本公司有權可用該保證金作為支付拍賣品購買價款的款項 第三十八條本公司之選擇權本公司有權酌情拒絕任何人參加本公司舉辦的拍賣活動或進入拍賣現場, 或在拍賣會現場進行拍照 錄音 攝像等活動 第三十九條異常情況緊急處理在拍賣現場出現異常的情況下, 本公司有權做出緊急處

理 如拍賣現場出現任何爭議, 本公司有權協調解決 第四十條以當事人身份競投除非某競投人在拍賣日前向本公司出具書面證明並經本公司書面認可, 表明其身份是某競投人的代理人, 否則每名競投人均被視為競投人本人 本公司只會向競投人收取款項 第四十一條委託競投競投人應親自出席拍賣會 如不能親身出席或由代理人出席, 可採用書面形式委託本公司代為競投或電話競投 本公司有權決定是否接受上述委託 委託本公司競投之競投人應在規定時間內 ( 不遲於拍賣日前三個工作日 ) 辦理委託手續, 向本公司出具填妥的本公司委託競投表格, 並應根據本規則規定同時交納競投保證金 委託本公司競投之競投人如需取消委託競投, 應不遲於拍賣日前二十四小時書面通知本公司 第四十二條委託競投的競投結果競投人委託本公司代為競投的競投結果及相關法律責任由競投人承擔 競投人如在委託競投表格中表示以電話等即時通訊方式競投, 則應準確填寫即時通訊方式並妥善保管該即時通訊工具, 在本公司受託競投期間, 競投人應親自使用該即時通訊工具, 一旦丟失或無法控制該即時通訊工具, 應立即以本公司認可的書面方式變更委託競投表格中填寫的即時通訊方式 在本公司受託競投期間會盡適當努力聯絡競投人, 而該即時通訊工具所傳達之競投資訊 ( 無論是否競投人本人或競投人的代理人傳達 ), 均視為競投人本人所為, 競投人應當對其行為承擔法律責任, 除非競投人本人已以本公司認可的書面方式變更了委託競投表格中填寫的即時通訊方式 但在任何情況下, 如未能聯絡, 或在使用該即時通訊工具的競投中有任何錯誤或遺漏, 本公司均不負任何責任 第四十三條委託競投之免責鑒於委託競投是本公司為競投人提供的代為傳遞競投資訊的免費服務, 本公司及其工作人員對競投未成功或代理競投過程中出現的任何錯誤 遺漏 疏忽 過失或無法代為競投等不承擔任何責任 第四十四條委託在先原則若兩個或兩個以上委託本公司競投之競投人以相同委託價對同一拍賣品出價且最終拍賣品以該價格落槌成交, 則最先將委託競投表格送達本公司者為該拍賣品的買家 第四十五條拍賣官之決定權拍賣官對下列事項具有絕對決定權 : ( 一 ) 拒絕或接受任何競投 ; ( 二 ) 以其決定之方式進行拍賣 ; ( 三 ) 將任何拍賣品撤回或分開拍賣或將任何兩件或多件拍賣品合併拍賣 ; ( 四 ) 如遇有出錯或爭議時, 不論在拍賣之時或拍賣之後, 有權決定成功競投者 是否繼續拍賣 取消拍賣或將有爭議的拍賣品重新拍賣 ; ( 五 ) 拍賣官可以在其認為合適的水平及競價階梯下開始及進行競投, 並有權代表賣家以競投或連續競投方式或以回應其他競投人的競投價而競投的方式, 代賣家競投到底價的金額 ; ( 六 ) 採取其合理認為適當之其他行動 第四十六條不設保留價就不設保留價的拍賣品, 除非已有競投, 否則拍賣官有權自行斟酌決定開價 若在此價格下並無競投, 拍賣官會自行斟酌將價格下降繼續拍賣, 直至有競投人開始競投, 然後再由該競投價向上繼續拍賣 第四十七條影像顯示板及貨幣兌換顯示板本公司為方便競投人, 可能於拍賣中使用影像投射或其他形式的顯示板, 所示內容僅供參考 無論影像投射或其他形式的顯示板所示之數額 拍賣品編號 拍賣品圖片或參考外匯金額等資訊均有可能出現誤差, 本公司對因此誤差而導致的任何損失不承擔任何責任 第四十八條拍賣成交最高競投價經拍賣官落槌或者以其他公開表示買定的方式確認時, 該競投人競投成功, 即表明該競投人成為拍賣品的買家, 亦表明賣家與買家之間的拍賣合約之訂立 第四十九條佣金及費用 競投人競投成功後, 即成為該拍賣品的買家 買家應支付本公司佣金 拍品門類 : 中國及亞洲現當代藝術及珠寶鐘錶, 按每件拍賣品落槌價首港幣 1,000,000 元之 18%, 及逾港幣 1,000,000 元之部份則以 15% 計算 ; 拍品門類 : 中西名酒珍釀, 按每件拍品落槌價之 18% ; 其餘拍品門類按每件拍品落槌價之 15% 計算, 同時應支付其他買家負責的各項費用 且本公司可根據本公司業務規則的規定向賣家收取佣金及其他賣家負責的各項費用 第五十條稅項買家向本公司支付的所有款項均應是淨額的, 不得包括任何貨物稅 服務稅或者其他增值稅 ( 不論是由香港或其他地區所徵收 ) 如有任何適用於買家的稅費, 買家應根據現行相關法律規定自行負擔 第五十一條付款時間拍賣成交後, 除非另有約定, 否則不論拍賣品之出口 進口或其他許可證之任何規定, 買家應自拍賣成交日 ( 含成交日 ) 起七日內向本公司付清購買價款並安排提取拍賣品 若涉及包裝及搬運費用運輸及保險費用 出境費等, 買家需一並支付 第五十二條支付幣種所有價款應以港幣支付 如買家以港幣以外的其他貨幣支付, 應按買家與本公司約定的匯價折算或按照本公司選擇之銀行於買家付款日前一個工作日公佈的港幣與該幣種的匯價折算 本公司為將買家所支付之該種外幣兌換成港幣所引致之所有銀行手續費 佣金或其他費用, 均由買家承擔 第五十三條所有權轉移即使本公司已將拍賣品交付給買家, 買家仍未取得拍賣品之所有權, 直至買家付清購買價款及買家欠付本公司的款項為止 第五十四條風險轉移競投成功後, 拍賣品的風險於下列任何一種情形發生後 ( 以較早發生日期為準 ) 即由買家自行承擔 : ( 一 ) 買家提取所購拍賣品 ; ( 二 ) 買家向本公司支付有關拍賣品的全部購買價款 ; ( 三 ) 拍賣成交日 ( 含成交日 ) 起七日屆滿 第五十五條提取拍賣品買家須在拍賣成交日 ( 含成交日 ) 起三十日內前往本公司地址或本公司指定之其他地點提取所購買的拍賣品 買家須自行負責於風險轉移至買家後為所購拍賣品購買保險 若買家未能在拍賣成交日 ( 含成交日 ) 起三十日內提取拍賣品, 則逾期後對該拍賣品的相關保管 搬運 保險等費用均由買家承擔, 且買家應對其所購拍賣品承擔全部責任 逾期後, 即使該拍賣品仍由本公司或其他代理人代為保管, 本公司及其工作人員或其代理人對任何原因所致的該拍賣品的毀損 滅失, 不承擔任何責任 第五十六條包裝及付運本公司有權決定是否接受買家要求, 提供代為包裝及處理的服務 如果本公司工作人員應買家要求代為包裝及處理購買的拍賣品, 上述包裝及處理僅應視為本公司對買家提供的服務, 因此發生的任何風險及損失均由買家自負 在任何情況下, 本公司對因任何原因造成的框架或玻璃 囊匣 底墊 支架 裝裱 插冊 軸頭或類似附屬物的損壞 滅失不負責任 如買家要求本公司協助以郵寄 快遞或運輸方式領取其所購買的拍賣品 ( 包裝及郵遞 運輸費用由買受人負擔 ), 一旦本公司將拍賣品交付郵寄 快遞 運輸部門 公司或其雇員 / 分支機構, 則視為本公司已交付該拍賣品, 同時應視為買家已按正常程序領取該拍賣品, 此過程中的風險由買家承擔, 除非買家特別指明並負擔保險費外, 在郵寄 快遞 運輸過程中一般不予投保 對於買家指定或本公司向買家推薦的包裝公司及郵寄 快遞 運輸部門或公司所造成的一切錯誤 遺漏 損壞或滅失, 本公司不承擔責任 第五十七條進出口及許可證買家須自行負責取得任何有關拍賣品進出口 瀕臨絕種生物或其他方面之許可證 未獲得任何所需之許可證或延誤取得該類許可證不可被視為買家取消購買或延遲支付購買價款之理由 本公司不承擔因不能填妥或呈交所需出口或進口貨單 清單或文件所產生之任何責任 如買家要求本公司代其申請出口許可證, 本公司則有權就此服務另行收取服務費用 然而, 本公司不保證出口許可證將獲發放 本公司及賣家概無就任何拍賣品是否受進出口限制或任何禁運作出聲明或保證 第五十八條未付款之補救方法若買家未按照本規則規定或未按照與本公司協議之任何付款安排足額付款, 本公司有權採取以下之一種或多種措施 : ( 一 ) 拍賣成交後, 若買家未在拍賣成交日 ( 含成交日 ) 起七日內支付購買價款, 於競投登記時支付的競投保證金不予退還, 同時還應按照本規則規定承擔相應責任 ; 買家以同一競投號牌同時拍得多件拍賣品的, 拍賣成交後若買家未按照規定時間支付任一拍賣品購買價款, 則全部競投保證金不予退還, 同時還應按照本規則規定承擔相應責任 ; ( 二 ) 在拍賣成交日 ( 含成交日 ) 起七日內, 如買家未向本公司付清全部購買價款, 本公司有權委託第三方機構代為向買家催要欠付的全部或部分購買價款 ; ( 三 ) 在拍賣成交日 ( 含成交日 ) 起七日內, 如買家仍未足額支付購買價款, 本公司有權自拍賣成交日後第八日起就買家未付款部分按照日息萬分之三收取利息, 直至買家付清全部款項之日止, 買家與本公司另有協議者除外 ; ( 四 ) 在本公司或其他地方投保 移走及儲存拍賣品, 風險及費用均由買家承擔 ; ( 五 ) 對買家提起訴訟, 要求賠償本公司因其違約造成的一切損失, 包括因買家遲付或拒付購賣價款造成的利息損失 ; ( 六 ) 留置同一買家在本公司投得的該件或任何其他拍賣品, 以及因任何原因由本公司佔有該買家的任何其他財產或財產權利, 留置期間發生的一切費用及 / 或風險均由買家承擔 若買家未能在本公司指定時間內履行其全部相關義務, 則本公司有權在向買家發出行使留置權通知且買家在該通知發出後三十日內仍未償清所有欠付款項的情況下處分留置物 處分留置物所得不足抵償買家應付本公司全部款項的, 本公司有權另行追索 ; ( 七 ) 本公司有絕對酌情決定權撤銷或同意委託人撤銷交易, 並拒絕該逾期付款買家提出的付款請求 提貨請求, 並保留追索因撤銷該筆交易致使本公司所蒙受全部損失的權利 ; ( 八 ) 經徵得委託人同意, 本公司可按照本規則規定再行拍賣或以其他方式出售該拍賣品, 並由本公司酌情決定估價及保留價 原買家除應當支付第一次拍賣中買家及賣家應當支付的佣金及其各自負責的其他各項費用並承擔再次拍賣或以其他方式出售該拍賣品所有費用外, 若再行拍賣或以其他方式出售該拍賣品所得的價款低於原拍賣價款, 原買家應當補足差額 ; ( 九 ) 將本公司在任何其他交易中欠付買家之款項抵銷買家欠付本公司關於拍賣品之任何款項 ; ( 十 ) 本公司可自行決定將買家支付的任何款項用於清償買家欠付本公司關於拍賣品或其他交易之任何款項 ; ( 十一 ) 拒絕買家或其代理人將來作出的競投或在接受其競投前收取競投保證金 ; ( 十二 ) 向賣家透露買家之資料, 以使賣家可展開法律訴訟, 以收回欠款, 或就買家違約申索損害賠償及申索法律費用 第五十九條延期提取拍賣品之補救方法若買家未能在拍賣成交日 ( 含成交日 ) 起七日內提取其購得的拍賣品, 則本公司有權採取以下之一種或多種措施 : ( 一 ) 將該拍賣品投保及 / 或儲存在本公司或其他地方, 由此發生的一切費用 ( 包括但不限於自拍賣成交日 ( 含成交日 ) 起的第三十一日起按競投人登記表格的規定計收儲存費等 ) 及 / 或風險均由買家承擔 在買家如數支付全部購買價款後, 方可提取拍賣品 ( 包裝及搬運費用 運輸及保險費用 出境費等自行負擔 ); ( 二 ) 買家應對其超過本規則規定期限未能提取相關拍賣品而在該期限屆滿後所發生之一切風險及費用自行承擔責任 如買家自成交日 ( 含成交日 ) 起的三十日內仍未提取拍賣品的, 則本公司有權在通知買家後, 以公開拍賣或其他本公司認為合適的方式及條件出售該拍賣品, 處置所得在扣除本公司因此產生之全部損失 費用 ( 包裝及搬運費用 運輸及保險費用 出境費 儲存費 公證費等 ) 後, 若有餘款, 則由買家自行取回, 該餘款不計利息, 拍賣成交日後兩年尚未取回的餘款在扣除相關開支 ( 包括法律費用 ) 後由本公司存入香港法庭 第六十條有限保證 ( 一 ) 本公司對買家提供之一般保證 : 如本公司所出售之拍賣品其後被發現為贋品, 根據本規則之條款, 本公司將取消該交易, 並將買家就該拍賣品支付予本公司之落槌價連同買家佣金, 以原交易之貨幣退還予買家 就此而言, 根據本公司合理之意見, 贋品指仿製品, 欺騙作品出處 原產地 日期 產出年數 年期 文化或來源等各方面, 而上述各項之正確描述並無收錄於目錄內容 ( 考慮任何專有詞彙 ) 拍賣品之任何損毀或任何類型之復原品及 / 或修改品 ( 包括重新塗漆或在其上塗 漆 ), 不應視為贗品 謹請注意如發生以下任何一種情況, 本保證將不適用 : 目錄內容乃根據學者及專家於銷售日期獲普遍接納之意見, 或該目錄內容顯示該等意見存在衝突 ; 或於銷售日期, 證明該拍賣品乃贗品之唯一方法並非當時普遍可用或認可或價格極高或用途不切實際 ; 或可能已對拍賣品造成損壞或可能 ( 根據本公司合理之意見 ) 已令拍賣品喪失價值之方法 ; 或如根據拍賣品之描述, 該拍賣品並無喪失任何重大價值 ( 二 ) 本保證所規定之期限為相關拍賣日後五年內, 純粹提供給買家之獨享利益, 且不可轉移至任何第三方 為能依據本保證申索, 買家必須 : 在收到任何導致買家質疑拍賣品之真偽或屬性之資料後一個月內書面通知本公司註明拍賣品編號 購買該拍賣品之日期及被認為是贗品之理由 ; 將狀況與銷售予買家當日相同, 並能轉移其妥善所有權且自銷售日期後並無出現任何第三方申索之拍賣品退還予本公司 ( 三 ) 有關東南亞現代及當代藝術 中國油畫以及中國書畫, 雖然目前學術界不容許對此類別作出確實之說明, 但本公司保留酌情權按本保證但以拍賣日後一年內為限取消證實為贗品之東南亞現代及當代藝術 中國油畫以及中國書畫拍賣品之交易 ; 已付之款項按本條規定 : 退還予買家, 但買家必須在拍賣日起一年內向本公司提供證據 ( 按本條第 ( 二 ) ( 四 ) 款規定的方式 ), 證實該拍賣品為贗品 ; ( 四 ) 本公司可酌情決定豁免上述任何規定 本公司有權要求買家索取兩名為本公司及買家雙方接納之獨立及行內認可專家之報告, 費用由買家承擔 本公司無須受買家出示之任何報告所規限, 並保留權利尋求額外之專家意見, 費用由本公司自行承擔 第四章其他 第六十一條資料採集 錄影就經營本公司的拍賣業務方面, 本公司可能對任何拍賣過程進行錄音 錄影及記錄, 亦需要向競投人搜集個人資料或向第三方索取有關競投人的資料 ( 例如向銀行索取信用審核 ) 這些資料會由本公司處理並且保密, 唯有關資料有可能提供給本公司 本公司的分部 附屬公司 子公司以協助本公司為競投人提供完善的服務 進行客戶分析, 或以便提供符合競投人要求的服務 為了競投人的權益, 本公司亦可能需要向第三方服務供應商 ( 例如船運公司或存倉公司 ) 提供競投人的部份個人資料 競投人參與本公司的拍賣, 即表示競投人同意上文所述 如競投人欲獲取或更改個人資料, 請與客戶服務部聯絡 第六十二條保密責任本公司有義務為賣家 競投人及買家保守秘密, 並根據香港法律和本規則維護賣家 競投人 買家和本公司的正當權益不受侵害 第六十三條鑒定權如果本公司認為需要, 可以對拍賣品進行鑒定 鑒定結論與委託拍賣合同載明的拍賣品的狀況不符的, 本公司有權要求變更或者解除委託拍賣合同 第六十四條版權賣家授權本公司對其委託本公司拍賣的任何拍賣品製作照片 圖示 圖錄或其他形式的影像製品和宣傳品, 本公司享有上述照片 圖示 圖錄或其他形式的影像製品和宣傳品的版權 有權對其依法加以使用 未經本公司事先書面同意, 買家及任何人不得使用 本公司及賣家均並未作出拍賣品是否受版權所限或買家是否取得拍賣品之任何版權的陳述及保證 第六十五條免除責任本公司作為賣家的代理人, 對賣家或買家的任何違約行為不承擔責任 在賣家或買家出現違約行為的情況下, 本公司有權根據自己的判斷決定向賣家或買家披露另一方的名稱和地址, 使受到損害的一方得以通過法律訴訟獲得損害賠償 但是, 本公司在向賣家或買家披露該等資料之前, 將採取合理步驟通知將被披露資料的一方 第六十六條通知競投人及買家均應將其固定有效的通訊地址和聯絡方式以競投登記文件或其他本公司認可的方式告知本公司, 若有改變, 應立即書面告知本公司 本規則中所提及之通知, 僅指以信函或傳真形式發出的書面通知 該等通知在下列時間視為送達 : ( 一 ) 如是專人送達的, 當送到有關方之地址時 ; ( 二 ) 如是以郵寄方式發出的, 則為郵寄日之後第七天 ; ( 三 ) 如是以傳真方式發出的, 當發送傳真機確認發出 時 第六十七條可分割性如本規則之任何條款或部分因任何理由被認定為無效 不合法或不可執行, 本規則其他條款或部分仍然有效, 相關各方應當遵守 執行 第六十八條法律及管轄權本規則及其相關事宜 交易 因依照本規則參加本公司拍賣活動而引起或與之有關的任何爭議, 均受香港法律規管並由香港法律解釋 本公司 買家及競投人等相關各方均須服從香港法院之唯一管轄權 第六十九條語言文本本規則以中文為標準文本, 英文文本為參考文本 英文文本如與中文文本有任何不一致之處, 以中文文本為準 第七十條規則版權所有本規則由本公司制訂和修改, 相應版權歸本公司所有 未經本公司事先書面許可, 任何人不得以任何方式或手段, 利用本規則獲取商業利益, 亦不得對本規則之任何部分進行複製 傳送或儲存於可檢索系統中 第七十一條適用時期本規則只適用於本次拍賣, 本公司可不時更新本規則, 競投人和買家參與另一次拍賣的時候應以當時適用的業務規則為準 第七十二條解釋權本規則的解釋權由本公司行使

condition of business CHAPTER I GENERAL RULES ARTICLE 1 POLY AUCTION (HONG KONG) LIMITED AS AGENT Unless as otherwise stated, Poly Auction (Hong Kong) Limited acts as the Seller s agent. The closing agreement for sale of a Lot shall be a contract between the Seller and the Buyer. These Conditions of Business and all other terms, conditions and notices contained in the catalogue, announced by the Auctioneer or provided at the saleroom shall constitute the provisions agreed among the Seller, the Buyer and/or Poly Auction (Hong Kong) Limited as auction agent. ARTICLE 2 DEFINITIONS AND INTERPRETATION In these Conditions of Business, the following terms shall have the meanings set forth below: (1) Company means Poly Auction (Hong Kong) Limited; (2) Seller means any natural person, legal person or other organization that consigns a Lot(s) within the scope of these Conditions of Business to the Company for auction. In these Conditions of Business, a Seller shall include any of its agents unless as otherwise specified herein or required in a particular context; (3) Bidder means any person, company, body corporate or other organization who or which considers, carries out or attempts to bid in anyway. In these Conditions of Business, a Bidder shall include any of its agents unless as otherwise specified herein or required in a particular context; (4) Buyer means the Bidder whose bid or offer for a Lot is recognized by an Auctioneer as the highest bid for that Lot in an auction held by the Company, including the principal on behalf of which such Bidder acts; (5) Buyer s Commission means any commission that a Buyer shall pay to the Company calculated at the rate specified herein of the Hammer Price for the Lot that such Buyer purchases; (6) Lot means any item consigned by a Seller to the Company for auction and so auctioned in any auction, in particular, any item numbered in any catalogue with certain description; (7) Auction Date means the date on which an auction is formally held, as announced by the Company in its public notice. In case of any discrepancy between the actual date and the announced date of an auction, the actual date shall prevail; (8) Sale Date means, in an auction held by the Company, the date on which the auctioneer concludes a contract for sale between a Seller and a Buyer by way of hammer striking or any other customary manner publicly confirming the sale; (9) Auctioneer means any person designated by the Company to moderate a particular auction; (10) Hammer Price means the price for a Lot at which the Auctioneer decides to sell the Lot by striking the hammer or the agreed sale price in the post-auction sale; (11) Proceeds of Sale means the net amount due to the Seller, being the Hammer Price less the Buyer s Commission, all expenses and other amounts payable to the Company by the Seller; (12) Purchase Price means the total amount payable by the Buyer for his/her/its purchase for each Lot, including the Hammer Price, the Buyer s Commission, other Buyer s Expenses and all Buyer s Expenses arising from its failure to perform its obligations; (13) Buyer s Expenses means costs and expenses in relation to sale of the Lot by the Company, including but not limited to insurance policies, packing, moving, storage, custody for the Lot, any expenses of testing, investigation, queries or authentication related to the Lot at the request of the Buyer or any additional costs and legal expenses to bring claims against a defaulting Buyer; (14) Reserve means the confidential minimum selling price for the Lot that the Seller has confirmed with the Company; (15) Estimate means the estimated selling price of a Lot written in the catalogue or other descriptive materials, excluding the Buyer s Commission; (16) Storage Fee means the storage fee payable by the Buyer to the Company according to these Conditions of Business. In these Conditions of Business, where the context requires, words denoting the singular shall include the plural and vice versa. ARTICLE 3 SCOPE OF APPLICATION All parties participating in any auctions organized by the Company, including the Seller, the Bidder, the Buyer and all other related parties (including but not limited to the agents of the Seller, the Bidder and the Buyer) shall be deemed to accept in full and bound by these Conditions of Business, and shall comply with them in such auctions, enjoy the rights and perform the obligations provided herein. Any Bidder who bids in an auction organized by the Company, whether in person or by authorizing an agent to bid on his/her/its behalf, whether by raising the paddle, by absentee bids, by phone or by any other means, shall be deemed to have accepted these Conditions of Business in full. Any dispute among the parties to auctions organized by the Company shall be settled in accordance with these Conditions of Business. ARTICLE 4 SPECIAL NOTICE Bidders and Buyers participating in any auctions organized by the Company shall carefully read and be abided by these Conditions of Business; Bidders and Buyers shall read the provisions limiting the Company s liabilities and disclaimers contained in these Conditions of Business carefully. Bidders and/ or their agents have the responsibilities to review the original Lot in person, and bear legal liabilities for their acts of bidding the Lot. Upon the Auctioneer confirms the Bidder s bid by striking his/her hammer or in any other manner publicly indicating confirmation of the purchase in any auctions organized by the Company, the contract for sale regarding the Lot shall immediately enter into force and the Bidder shall become the Buyer of the Lot. The Company, the Seller and the Buyer shall acknowledge the sale of the Lot and its closing, enjoy the rights and assume the obligations provided by applicable laws and/ or these Conditions of Business. Any party that fails to perform obligations shall bear its/his/her corresponding legal liabilities. The Company may amend these Conditions of Business for a particular auction by posting announcements at the auction site or making an announcement at such auction through an Auctioneer. CHAPTER II THE SELLER ARTICLE 5 CONSIGNMENT PROCEDURE When arranging for the consignment of the Seller s Lot to the Company for auction: (1) The Seller must present a valid identity document with photo issued by the government (e.g. resident identity card or passport) if the Seller is a natural person and sign a consignment auction contract with the Company; (2) A valid certificate of incorporation, proof of shareholding, or a legal authorization document shall be required if the Seller is a legal entity or any other organization, which shall sign a consignment auction contract with the Company. (3) When the Seller signs a consignment auction contract with the Company, the Company shall be automatically authorized to make pictures, illustrations, catalogues, or other video images of the Lot. ARTICLE 6 THE SELLER'S AGENT When arranging for the consignment of the Lot to the Company for auction, the Seller s agent shall submit to the Company the relevant authorization certificates including: (1) A valid identity document if such agent is a natural person; (2) A valid certificate of incorporation and proof of share holding if such agent is a legal person or any other organization; and (3) A power of attorney duly executed. The Company has the right to examine the aforesaid documents in a lawful manner. ARTICLE 7 THE SELLER'S WARRANTIES The Seller hereby makes irrevocable warranties to the Company and the Buyer with respect to the Lot it consigns to the Company for auction as follows: (1) The Seller has absolute ownership or legal right to dispose of the Lot. The auction of the Lot will not prejudice any legal interest (including copyright interest) of any third party, and will not violate the provisions of relevant laws and regulations; (2) The Seller has, to the best of its knowledge, made full and complete disclosure and description to the Company with respect to the origin and any flaw of the Lot and notified the Company in writing, without any concealment or fabrication; (3) If the Lot being consigned shall be imported into Hong Kong, the Seller shall guarantee the compliance with the laws of its origin, and ensure the completion of the export and import procedures and notify the Company in writing; and (4) If the violation of the above warranties causes the actual owner of the Lot or any third party who claims to have right to bring any claim or action and causes the Company and/or the Buyer to suffer losses, the Seller shall compensate for all losses suffered by the Company and/or the Buyer as well as all expenses and costs incurred as a result. ARTICLE 8 RESERVE Unless as otherwise agreed upon by the Company and the Seller, all Lots are offered subject to a Reserve. The Reserve shall be determined by the Seller and the Company in writing through consultation, and no modification of the Reserve shall be made without the prior consent of the other party after it is determined by both parties. Following the bidding failure of the Lot authorized by the Seller, the Auctioneer shall have the right to sell such Lot at the Reserve after such auction and the Seller must pay the Commission to the Auctioneer. In no circumstance shall the Company bear any liability for failure to sell the Lot at the Reserve at the auction held by the Company. ARTICLE 9 THE COMPANY'S DISCRETION The Company may decide the following matters at its absolute discretion: (1) Explanation and/or appraisal of any aspect of any Lot through the catalogue of the Lot and/or news media and/or other carriers; (2) Whether to consult any expert or not; (3) The illustration of the Lot in the catalogue, the exhibition of the Lot and other forms of publicizing the Lot, the arrangement in the promotional activities as well as the standards of payable expenses; (4) Suitability of a Lot for auction by the Company; And (5) Other matters such as the date of auction, the place of auction, the conditions of auction and the manner of auction. ARTICLE 10 LOT NOT AUCTIONED After the Seller has signed the consignment auction contract with and delivered the Lot to the Company, if for any reason the Company believes that the Lot is not suitable for auction by the Company, the Seller shall collect the Lot within thirty days from the issuance date of the Company s notice (fees for packaging and transportation shall be at the Seller s own expense). The consignment auction contract between the Seller and the Company will terminate on the date when the Seller collects the Lot. If during the above-mentioned period the Seller fails to collect the Lot, the consignment auction contract will automatically terminate upon the expiration of such period. If within seven days after the termination of the consignment auction contract the Seller does not collect the Lot, the Company shall have the right to charge the Storage Fee, insurance fees and other reasonable expenses, and to dispose of the Lot in a way the Company deems proper. The Seller is responsible for the collection of, if any, the amount obtained from the disposal after deducting all the fees and expenses incurred by the Company. ARTICLE 11 SUSPENSION OF AUCTION The Company has the right to suspend the auction of any Lot at any time before the actual auction under any one of the following situations: (1) The Company has an objection to the ownership or authenticity of the Lot; (2) Any third party has an objection to the ownership or authenticity of the Lot and can provide relevant evidence materials as to the basis of such objection, pays a security pursuant to the Company s requirements and is willing to take the corresponding liabilities for the legal consequences and all losses caused by the suspension of auction; (3) The Company has an objection to the explanation of the Seller or the accuracy of the Seller s warranty mentioned in Article 7 hereof; (4) Any evidence proves the Seller has violated or will violate any provisions of these Conditions of Business; (5) For any other reason, the Company believes that the auction of such Lot shall be suspended; or (6) Whichever situation causes such suspension, if the Company is aware of any ownership or other dispute in relation to the Lot being consigned for auction, the Company shall have the right to refuse to return such Lot until the dispute is settled. ARTICLE 12 THE SELLER'S WITHDRAWAL OF LOT The Seller may withdraw the Lot at any time prior to the Auction Date by issuing a written notice to the Company. In the case that the Lot has been listed in the catalogue or other public materials and they have begun to be printed at the time of the withdrawal of the Lot, the Seller shall pay an amount equal to 20% of the Reserve of the Lot and all other expenses. In the case that the catalogue or other public materials have not been printed, the Seller shall pay an amount equal to 10% of the Reserve of the Lot and all other expenses. Any dispute or claim arising out of the Seller s withdrawal of the Lot shall be borne by the Seller and has nothing to do with the Company. ARTICLE 13 AUTOMATIC INSURANCE Unless as otherwise instructed by the Seller in writing, all Lots will be automatically covered under the insurance policies purchased by the Company after the Seller enters into the consignment auction contract with the Company and delivers the Lots to the Company. The insured amount shall be based on the Reserve agreed by the Seller and the Company in the consignment auction contract (if there is no Reserve, it shall be the agreed insured amount of the Lot; if the Reserve is adjusted, it shall be the original Reserve of the Lot). The insured amount is only applicable to insurance and claim for compensation, is not the Company s warranty or guarantee for the value of the Lot, and does not mean that the Lot can be sold for an amount equal to the insured amount through any auction by the Company. ARTICLE 14 INSURANCE PREMIUM If the Lot is sold, the insurance premium payable by the Seller shall be 1% of the Hammer Price unless as otherwise agreed by the Seller and the Company. If the Lot is not sold, the Seller shall as well pay the insurance premium at 1% of the Reserve. ARTICLE 15 INSURANCE PERIOD If the Lot is sold in the auction, the insurance period shall terminate at the earlier of the seventh day after the Sale Date (including the Sale Date) and the date when the Buyer collects the Lot. If the Lot is not sold in the auction, the insurance period shall terminate upon the expiry of thirty days after the Company issues the notice on the collection of the Lot. ARTICLE 16 INSURANCE BY THE SELLER In the event that the Seller notifies the Company in writing not to insure the Lot, it shall undertake all the risks and the following liabilities at any time (unless as otherwise ruled by an arbitration institution): (1) To compensate for any claim or action brought by any other parties against the Company with respect to the damage or destruction of the Lot; (2) To compensate the Company and/or any other parties for all losses suffered and all expenses incurred because of the damage or destruction of the Lot caused by any reason; and (3) To notify the compensation related provisions herein to any insurer of the Lot. ARTICLE 17 INSURANCE DISCLAIMER The damage or destruction of the Lot caused by natural wear, inherent flaws, internal or potential defects, change of substance itself, self-combustion, self-heating, oxidation, corrosion, leakage, rat-bite, worm-bite, change in the atmosphere (climate or air temperature), change in humidity or temperature, or other gradual changes or caused by force majeure such as earthquake, tsunami, war, hostile action, armed conflict, terrorism, coup, strike and social riot, or nuclear radiation or radioactive pollution as well as the damage or destruction of book frames, glass, drawers, bottom pads, trestles, mountings, insert pages, scroll heads or other similar accessories caused by any reason are not within the scope of insurance indemnity. ARTICLE 18 INSURANCE INDEMNITY Any damage or destruction of the Lot caused by incidents or disasters covered by the insurance purchased by the Company for the Lot shall be handled in accordance with the laws of Hong Kong on insurance. The Company shall pay insurance indemnities after deducting the Company s expenses (other than the Commission) to the Seller after the Company obtains such indemnities from the insurance company. ARTICLE 19 BIDDING PROHIBITION The Seller shall not bid for the Lot consigned to the Company by himself/herself/itself for auction, or authorize any other person to bid on his/her/its behalf. Only the Company has the right to bid on behalf of the Seller at a price not more than the Reserve. The Seller shall bear all legal liabilities and compensate for all losses caused to the Company if the Seller violates this Article. ARTICLE 20 COMMISSION AND EXPENSES Unless as otherwise agreed upon by the Seller and the Company, the Seller shall authorize the Company to deduct 10% of the Hammer Price as Commission and at the same time deduct other expenses. Despite the fact that the Company is the Seller s agent, the Seller agrees that the Company may collect the Commission and other expenses from the Buyer in accordance with provisions in Article 49 hereof. ARTICLE 21 SERVICE FEE FOR UNSOLD LOT In case the Lot is not sold because the bidding price is lower than the Reserve, the Seller shall authorize the Company to charge the Seller a service fee for unsuccessful auction and other expenses. ARTICLE 22 PAYMENT OF PROCEEDS OF SALE Where the Buyer effects full payment of the Purchase Price to the Company in accordance with the provisions in Article 49 hereof, the Company shall pay the Proceeds of Sale to the Seller thirty-five days after the Sale Date in Hong Kong dollars. ARTICLE 23 DEFERRED PAYMENT Where the Company does not receive the full payment of the Purchase Price from the Buyer upon the expiry of the payment period under Article 51 hereof, the Company will pay the Proceeds of Sale to the Seller within seven working days after receipt of full payment of the Purchase Price from the Buyer. ARTICLE 24 SELLER TAXES The Seller shall pay taxes to the government for the Proceeds of Sale obtained. If the Company has the obligation to withhold and pay taxes according to the provisions of the relevant laws, the Company will follow the provisions of the laws. The Seller shall assist in handling all the formalities and bear the corresponding taxes and expenses. ARTICLE 25 ASSISTANCE IN COLLECTION OF OUTSTANDING PAYMENT The Seller shall, at the time of its consignment of the Lot to the Company for auction, be deemed to have authorized the Company to demand the corresponding outstanding payment from the Buyer on behalf of the Seller. Where the Buyer fails to fully pay the Purchase Price within seven days after the Sale Date (including the Sale Date), the Company shall have the right to demand the Commission and other Buyer s Expenses according to the provisions of Article 58 hereof. In addition, the Company shall as well have the right to take appropriate measures (including but not limited to resorting to legal proceedings) to assist the Seller in collecting such outstanding payment from the Buyer where it is deemed by the Company to be practicable. The above provision does not exclude the Seller s right to demand in person or authorize any third party to demand the outstanding payment from the Buyer and does not obligate the Company to demand the corresponding outstanding payment from the Buyer on behalf of the Seller under any circumstance. This Company shall not bear the corresponding liability for the Seller because of the Buyer s failure to pay the Purchase Price under any circumstance.

ARTICLE 26 THE COMPANY'S DISCRETION The Company shall have the right to accept the Seller s authorization (at the Seller s expenses) and may determine the following matters as the case may be: (1) To agree on special conditions of the payment of the Purchase Price; (2) To remove, store and insure the sold Lot; (3) To settle claims brought by the Buyer or the Seller in accordance with the relevant articles hereof; and (4) To take other necessary measures to collect the outstanding payment owed by the Buyer to the Seller. ARTICLE 27 UNSOLD LOT In the event that the Lot is not sold, the Company may choose any one of the following actions: (1) Private sale after the auction The Company may re-negotiate with the Seller on the revised Reserve and sell the Lot in private sale, and pay the Seller the Proceeds of Sales adjusted based on the revised Reserve. (2) Re-auction The Company may re-auction the Lot. The Commission and expenses scale set out in the previous consignment auction contract remains applicable. (3) Collection of the Lot The Seller shall take back the Lot within 30 days upon receipt of the Company s notice on collection (fees for packaging and transportation shall be paid by the Seller) and pay the Company the service fee for unsuccessful auction and other expenses. The Company shall, upon expiration of such time limit, be entitled to charge the Storage Fee, insurance fees and other reasonable expenses, and to sell the Lot through public auction or other means of sale according to the conditions the Company deems appropriate. The Company shall also be entitled to deduct the service fee for unsuccessful auction and other expenses payable by the Seller in the first auction as well as all expenses for re-sale of the Lot by auction from the Proceeds of Sale before paying the remaining amount to the Seller. ARTICLE 28 RISK ASSUMPTION The Seller shall assume liability for all risks and expenses that occur after the time limit prescribed herein if the Seller fails to take back the Lot not auctioned or the unsold Lot within such the time limit. The Seller shall assume liability for all risks and expenses of the Lot not auctioned or the unsold Lot at the earlier of the thirtieth day after the Company issues a notice on collection of the Lot to the Seller (including the notice date) and the time when the Seller collects the Lot in accordance with these Conditions of Business. Where the Seller requests Company to assist it in the return of the Lot within the time limit provided herein and the Company so agrees, the Seller shall assume liability for all risks and expenses that occur after the Lot leaves the place designated by the Company. Unless the Seller specifically gives an indication and pays insurance premium in advance, the Company has no obligation to insure the Lot for any period after its departure from the place designated by the Company. Where the Seller requests the Company to assist it in returning the Lot by means of post, express delivery or other third-party transportation, the Company shall be deemed to have returned the Lot and the Seller shall be deemed to have collected the Lot upon the Company s delivery of the Lot to the post, express delivery and transportation entities, companies or their employees/branch offices. CHAPTER III THE BIDDER AND THE BUYER ARTICLE 29 RESPONSIBILITIES OF THE BIDDER AND THE COMPANY IN RESPECT OF THE LOT 1. The Company s perception of all Lots partly relies on the information provided by the Seller, the Company is unable and will not carry out comprehensive inspection of all Lots. Bidders are aware of this and bear the responsibilities of inspecting and testing the original Lots so that Bidders will be satisfied with those Lots in which they may be interested. 2. All Lots for sale by the Company are available for viewing by Bidders. By bidding, Bidders and/or their agents are deemed to have carried out thorough examination of the Lots, and are deemed to be satisfied with the conditions of the Lots and the accuracy of their description. 3. Bidders acknowledge that various Lots are dated long time ago and of special categories, implying that the Lots are not perfect and not free from defects. All Lots are sold as is at the time of the auction (whether or not Bidders attend the auction). Condition reports may be provided when during the viewing period. Under certain circumstances, catalogue descriptions and condition reports may be used for reference about certain defects of the Lots. Nevertheless, Bidders should pay attention that the Lots may have other defects not clearly stated in the catalogue descriptions and condition reports. 4. Regarding the information about the Lot provided to Bidders, including any forecast information (written or verbal), catalogues and other reports, commentaries or estimated values, such information are not statement of facts, but rather are statements of the opinion that the Company holds. Such information can be altered at the sole discretion of the Company from time to time. 5. The Company or the Seller has not made any declaration or warranty as to whether any Lot is subject to any copyright or whether the Buyer has bought the copyright of any Lot. 6. In accordance to the matters contained in Article 29 (1) to 29 (5) of the Conditions of Business and the special exemption contained in Article 30 of the Conditions of Business, the descriptions in the catalogue and in the condition reports are written in a reasonably prudent manner (and such should be in line with those terms of the Conditions of Business regarding the Company serving as Auction Agent) based on (1) the information provided by the Seller to the Company; (2) academic and technical knowledge (if any); and (3) generally accepted opinions of the relevant experts. ARTICLE 30 THE COMPANY'S EXEMPTION AND RESTRICTION OF RESPONSIBILITIES TO THE BUYER 1. If the Company considers the Lot as forgery, it shall return the Hammer Price and Buyer s Commission to the Buyer. 2. Subject to the matters contained in Article 29 of the Conditions of Business and the rules in Article 30 (1) and 30 (5) of the Conditions of Business, the Company shall not: (1) be responsible for any errors or omissions in the information provided by the Company to the Bidder verbally or in writing, no matter whether this is caused by negligence or other reasons, with the exception of provision contained in Article 29 (6) of the Conditions of Business; (2) make any guarantee or warranty to the Bidder, excluding any implied warranty and rules other than the expressed warranty that the Seller has entrusted the Company to make to the Buyer (with the exception of those responsibilities that cannot be discharged according to the stipulations of laws); (3) be accountable to any Bidder for any actions or omissions of the Company regarding the auction or the sale of any Lot (no matter whether this is caused by negligence or other reasons). 3. Unless the Company owns the Lot to be sold, it shall not be responsible for any breach of the Conditions of Business by the Seller. 4. Without affecting Article 30 (2) of these rules, any claim for compensation that the Bidder makes to the Company or the Seller shall be limited to the Hammer Price and the Buyer s Commission of the Lot. Under no circumstances shall the Company and the Seller bear any consequential losses incurred by the Buyer. 5. Article 30 of the Conditions of Business does not exempt or restrict the responsibilities of the Company regarding any misrepresentation with fraudulent element made by the Company or the Seller, nor the responsibilities of casualty or death caused by negligent acts or omissions of the Company or the Seller. ARTICLE 31 CATALOGUE AND OTHER EXPLANATION OF THE LOT The Company shall prepare a catalogue of the Lot to briefly introduce the conditions of the Lot with words and/or pictures to facilitate the Bidder and Seller to participate in the auction held by the Company. The words and Estimate in the catalogue of the Lot, pictures, other images as well as public materials are only references for the Bidder and may be revised before auction. The Company provides no guarantee for the authenticity, value, tone, quality or flawlessness of the Lot. ARTICLE 32 UNCERTAINTY OF CATALOGUE In case that the tone, color, graduation and shape of the Lot shown in the catalogue and/or any other illustrations, images and public materials differ from those of the original Lot due to printing, photography or other technical reasons, the original Lot shall take precedence. Any introduction and appraisal of any Lot made by the Company and its employees or its agents in anyway (including the certificate, catalogue, slideshow and news media) are only opinions for reference and do not constitute any guarantee for the Lot. The Company and its employees or its agents shall undertake no liability for any inaccuracy or omission in the aforesaid introduction or appraisal. ARTICLE 33 RESERVE AND ESTIMATE Unless otherwise indicated, all Lots are offered subject to a Reserve. Normally, the Reserve is not higher than the lowest Estimate announced before the auction or published before the auction by the Company. If a Reserve has not been set for a Lot, unless there has already been bidding, the Auctioneer, in his or her discretion, may decide the starting price, but this shall not be higher than the lowest Estimate of the Lot before the auction. Under no circumstances shall the Company bear any liability when the bids for a Lot do not reach the Reserve. If the bids are lower than the Reserve, the Auctioneer, in his or her discretion, may sell the Lot at a price lower than the Reserve. However under such circumstances, the amount that the Company shall pay the Seller shall be the amount that the Seller would receive as if the Lot was sold at the Reserve. The Estimate is estimated at an earlier time before the Auction Date, it is not a confirmed selling price, and is not legally binding. Estimates cannot be used as a forecast of the Hammer Price of the Lot, and the Company has the right to revise from time to time the Estimate already made. ARTICLE 34 BIDDERS' INSPECTION RESPONSIBILITY The Bidder and/or his/her/its agents shall have the responsibility to learn about the actual conditions of the Lot and shall be legally liable for his/her/its bid for a certain Lot. The Company strongly advises the Bidders to personally inspect the original Lot they intend to bid for before the Auction Date by authentication or other means. Bidders shall judge by themselves whether Lot complies with the descriptions in the Company s catalogue of the Lot and other images and public materials, rather than relying on the catalogue, images and public materials to make decisions. ARTICLE 35 REGISTRATION OF BIDDERS If the Bidder is a natural person, before the Auction Date, he/she shall fill in and sign the registration documents with an identity document with photo issued by the government (such as resident identity card or passport), and provide proof of the current address (e.g. utility bill or bank statement); if the Bidder is a company or other organization, before the Auction Date, it shall fill in and sign the registration documents and collect a paddle with its valid certificate of incorporation and proof of shareholding and legitimate authorization document. The Company may request the Bidder to present proof of bank details or other proof of financial conditions for payment purposes. ARTICLE 36 PADDLE The Company can announce before the Auction Date the conditions and procedures of arranging paddle for the Bidder according to different auction conditions and auction methods etc., including but not limited to the qualification and conditions for the Bidder to arrange a paddle. The Company solemnly reminds that a paddle is the only proof for the Bidder to participate in the auction at the venue. The Bidder shall keep it properly and shall not lend it to others to use it. If it is lost, it shall immediately handle the loss report formalities in a written form recognized by the Company. No matter if the person holding a paddle has been appointed by the Bidder or not, his or her bidding acts at auction are considered as having been made by the registered person himself, and the Bidder shall bear the legal responsibilities for the acts of the former, unless the Bidder himself has already submitted a written report to the Company regarding the loss paddle. ARTICLE 37 AUCTION DEPOSIT When a Bidder participates in an auction of the Company, he/she shall first pay the auction deposit before collecting the paddle. The amount of the auction deposit will be announced by the Company before the Auction Date, and the Company has the right to waive the auction deposit. If the Bidder fails to buy the Lot and he does not owe the Company any sum, then that auction deposit shall be returned to the Bidder in full without interest within 14 working days after the end of the auction. If the Bidder succeeds in buying a Lot, the auction deposit shall automatically be converted to the payment of the Purchase Price of the Lot. ARTICLE 38 DISCRETION OF THE COMPANY The Company has the right to forbid anyone from participating in the auction organized by the Company or entering the auction site, or taking pictures or shooting videos at the auction site at its discretion. ARTICLE 39 HANDLING OF ABNORMAL EVENTS If any abnormal event occurs at the auction site, the Company has the right to take emergency actions. If any dispute arises at the auction site, the Company has right to mediate and settle it. ARTICLE 40 CONFIRMATION OF BUYER'S IDENTITY The Bidder must take good care of his/her/its paddle and be cautious not to lose it. The Bidder shall not lend his/her/its paddle to others, or the Bidder shall assume all legal liability for others act of bidding for the Lot using his/her/its paddle. ARTICLE 41 ABSENTEE BIDS Bidders shall attend the auction in person. If a Bidder or its agent cannot attend in person, it can appoint the Company in writing for the Company to bid on its behalf. The Company has the discretion to accept or not accept the above appointment. Any Bidder who has appointed the Company to bid shall handle the appointment formalities within the period stipulated (no later than three business days), and produce a completed Absentee Bid Order to the Company, and at the same time pay the auction deposit according to the Conditions of Business. If the Bidder who has appointed the Company to bid needs to cancel the absentee bid, it shall notify the Company no later than 24 hours before the Auction Date. ARTICLE 42 AUCTION RESULTS OF ABSENTEE BID If a Bidder who has appointed the Company to bid, the auction results and the related legal responsibilities shall be borne by the Bidder. If the Bidder indicates in the Absentee Bid Order that it bids by instant communication methods such as telephone, it shall fill in the instant communication method accurately and keep the instant communication instrument properly, during the period in which the Company is appointed to bid, the Bidder shall use that instant communication instrument itself. In the case when the instant communication instrument is lost or it cannot be within control, the Bidder shall immediately use a written form recognized by the Company to change the instant communication method filled in the Absentee Bid Order. During the period the Company is appointed to bid, it shall make appropriate efforts to contact the Bidder, the bidding information transmitted by that instant communication instrument (whether or not it is transmitted by the Bidder personally or the Bidder s agent) shall be considered as transmitted by the Bidder itself, and the Bidder shall bear legal responsibilities for the actions taken by it. Unless the Buyer itself has changed the instant communication method filled in the Absentee Bid Order by a written method recognized by the Company. Nevertheless, under no circumstances shall the Company be responsible for any unsuccessful contact or errors or omissions in the bidding process using that instant communication instrument. ARTICLE 43 DISCLAIMER OF ABSENTEE BID Since absentee bid is a free service of transmitting bidding information that the Company provides to the Bidder, the Company and its employees shall not bear any responsibilities for unsuccessful bidding or any errors, omissions, negligence, fault or inability to bid on its behalf during the bidding process. ARTICLE 44 FIRST-COME-FIRST-SERVE PRINCIPLE FOR ABSENTEE BID If two or more Bidders appointing the Company to bid on their behalf have bid the same price for the same Lot and eventually that Lot is sold at that Hammer Price, then the one who first submitted to the Company shall be the Buyer of that Lot. ARTICLE 45 DISCRETION OF THE AUCTIONEER The Auctioneer has the right at his absolute and sole discretion in the following matters: 1. Refusal or acceptance of any bid; 2. Carrying out the auction in such a manner as he may decide; 3. Withdrawal of any Lot, dividing it for auction separately, combining any two or more Lots for auction; 4. If there are errors or disputes, no matter if they occur during or after the auction, he shall have the right to decide the successful Bidder, whether or not to continue the auction, to cancel the auction or place the Lot under dispute for auction again; 5. The Auctioneer may open and carry out the bidding at a level with bidding increments that he considers suitable, and has the right to bid on behalf of the Seller up to the amount of the Reserve, either by placing consecutive bids or by placing bids in response to other Bidders; 6. Adoption of other actions that he considers as appropriate. ARTICLE 46 NO RESERVE For those Lots without a Reserve, unless there has already been bidding, otherwise the Auctioneer, under his own discretion, may decide the starting price. If there is no bidding at such a price, the Auctioneer will, at his own discretion, lower the price and continue the auction until a Bidder starts to bid, then he will continue the auction at that price and then continue up from that amount. ARTICLE 47 IMAGE DISPLAY BOARD AND CURRENCY CONVERSION BOARD To facilitate Bidders, the Company may use image projector or other forms of display boards in the auction. The contents shown are for reference only. It is possible that there are differences in the information such as the amount, reference number of the Lot, images of the Lot or reference foreign currency etc. shown in the image projector or other forms of display boards and the Company shall not bear any responsibilities for any losses caused by such differences. ARTICLE 48 SUCCESSFUL BID The fact that the Auctioneer confirms the highest bid of a Bidder by striking his/her hammer or in any other manner of publicly confirming the sale shall indicate the conclusion of a sales contract for the Lot between the Bidder and the Seller. ARTICLE 49 COMMISSION AND EXPENSES After the Bidder has succeeded in bidding, it will become the Buyer of that Lot. A buyer s premium will be added to the Hammer Price and is payable by the buyer as part of the total purchase price. The buyer s premium is 18% of the hammer price of each lot up to and including HKD 1,000,000; and 15% of the excess of the hammer price above HKD 1,000,000 for Chinese and Asian Modern & Contemporary Art and Jewels & Watches. It is 18% of the hammer price of each lot for Chinese & Western Wine and 15% of the hammer price of each lot for the rest categories and at the same time other Buyer s Expenses, and recognizes that the Company can charge the Seller the commission and other Seller expenses according to provisions of the Consignment Agreement. ARTICLE 50 TAXES All the monies that the Buyer pays to the Company are net amounts, which shall not include any tax on goods, tax on services or other value added tax (whether levied by Hong Kong or other regions). If there is any tax applicable to the Buyer, the Buyer shall bear it itself according to the provisions of the relevant laws currently in force. ARTICLE 51 PAYMENT TIME After the Lot is successfully sold in an auction, unless otherwise agreed, regardless of any stipulations of the export, import or other permits of the Lot, the Buyer shall fully pay the Purchase Price within 7 days after the Sale Date (including the Sale Date), and collect the Lot. If packing, moving costs, and insurance expenses, expenses related to export are involved, the Buyer shallpay them altogether. ARTICLE 52 PAYMENT CURRENCY All monies shall be paid in Hong Kong dollars.if the Buyer pays in another currency other than Hong Kong dollars, it shall convert it at the exchange rate agreed between the Buyer and the Company or at the exchange rate of Hong Kong dollars and that currency type on the previous working day announced by such bank as selected by the Company. All bank handling fees, commission and charges incurred by the Company for converting the foreign currency paid by the Buyer into Hong Kong dollars shall be borne by the Buyer. ARTICLE 53 TRANSFER OF OWNERSHIP Even if the Company has delivered the Lot to the Buyer, the Buyer has not yet obtained the ownership of the Lot. This shall pass onto the Buyer only when the Buyer has fully paid thepurchase Price and all monies that the Buyer owes the Company. ARTICLE 54 TRANSFER OF RISKS After the bidding has succeeded, the risks ofthe Lot shall be borne by the Buyer itself after the occurrence

of one of the following events (whichever earlier): 1. The Buyer has collected the Lot; or 2. The Buyer has fully paid the Purchase Price for the Lot to the Company; or 3. The expiry of seven days after the Sale Date (including the Sale Date). ARTICLE 55 COLLECTION OF THE LOT Risk and responsibility for the lot passes to the Buyer at the expiration of thirty calendar days from the Sale Date (including the Sale Date). or on collection by the Buyer, if earlier. After thirty calendar days, all expenses incurred, including but not limited to storage, moving, insurance will be for the account of the Buyer. Although the Company shall use reasonable efforts to take care of purchased Lot and suggest handlers, packers or carriers, the company is not responsibleto any person to whom we have made are commendation for the acts or omissions of the third party concerned. ARTICLE 56 PACKING, HANDLING AND MOVING If the employees of the Company pack and handle the Lot bought on behalf of the Buyer according to the latter s requirements, this is considered as a service provided by the Company to the Buyer and the Company has the discretion to decide whether to provide this service, if any losses arise there from, the Buyer shall bear them itself. Under no circumstances shall the Company be responsible for any damage of the glass or picture frame, box, backing sheet, frame case, mounting, inserts, rolling rod or similar auxiliary objects caused by any reasons. Where the Buyer requests the Company to assist it in collecting the purchased Lot (the packaging, mailing and transportation expenses shall be paid by the Buyer) by means of post, express delivery or transportation, the Company shall be deemed to have delivered the Lot and the Buyer shall be deemed to have collected such Lot according to the normal procedure upon the Company s delivery of the Lot to the post, express delivery and transportation entities, companies or their employees/branch offices. The risks arising from this process shall be borne by the Buyer. Unless as Buyer gives a clear indication and pays insurance premium, no insurance isprovided in the process of mailing, express delivery or transportation generally. The Company shall undertake no liability for any error, omission, damage or destruction caused by the packaging company and post, express delivery and transportation entities or companies designated by the Buyer or recommended by the Company to the Buyer. ARTICLE 57 IMPORT, EXPORT LICENSES AND PERMIT The Buyer shall be responsible for obtaining any import and export licenses, permit for endangered animals or other aspects related to the Lot. Failure or delay in obtaining any permits required shall not be deemed as a reason for cancelling the purchase or delaying in paying the Purchase Price. The Company shall not bear any responsibilities for the failure to properly fill in or submit the required import or export documents. If the Buyer requests the Company to apply for the import and export licenses on its behalf, the Company has the right to charge service fees for this service. However, the Company does not warrant that the import or export license will be issued. The Company and the Seller has not made declaration or warranty in respect of whether or not any Lot is subject to import and export restrictions or any embargo. ARTICLE 58 REMEDIES FOR NON-PAYMENT If the Buyer fails to make full payment according to the provisions of the Conditions of Business or any payment arrangements agreed with the Company, the Company has the right to adopt one or more of the following measures: 1. After the Lot is sold, if the Buyer fails to pay the Purchase Price within 7 days from the Sale Date (including the Sale Date), the auction deposit paid at the time of bidding registration shall not be refunded, and it shall at the same time bear the relevant responsibilities according the provisions of the Conditions of Business; if the Buyer has bought a few Lots with the same paddle, after the Lots are sold, if the Buyer has not paid the Purchase Price of any of the Lots within the time stipulated, then the entire auction deposit shall not be refunded, and it shall at the same time bear the relevant responsibilities according the provisions of the Conditions of Business; 2. If the Buyer fails to pay the Purchase Prices in full to the Company within 7 days from the Sale Date (including the Sale Date), the Company has the right to appoint a third party organization to collect the entire or part of the Purchase Prices that the Buyer owes; 3. If the Buyer fails to pay the Purchase Price in full within 7 days from the Sale Date (includingthe Sale Date), the Company has the right to charge interest at 0.03% per day on the unpaid portion starting from the 8th day after the Sale Date until the day on which the Buyer has fully paid the monies, with the exception that the Buyer has otherwise agreed with the Company; 4. The Buyer shall bear the risks and expenses of taking out an insurance policy, moving and storing the Lot in the Company or other places; 5. To sue the Buyer, demand for compensation for all the losses due to the breach of contract by the Buyer including the interest loss caused by the delay in payment or refusal to make paymentsby the Buyer; 6. To retain that or any other Lot that the same Buyer has bought via the Company, and anyother properties or rights to property of the Buyer that the Company holds for any reasons, all the expenses and/or risks incurred during the retention period shall be borne by the Buyer. If the Buyer fails to perform all its duties concerned within the period specified by the Company, the Company has the right to issue a lien notice tothe Buyer and dispose of the items under lien if the Buyer has not yet fully paid all outstanding amounts within 30 days after the issue of that notice. if the items under lien are insufficient to offset all the monies payable by the Buyer to the Company, the Company has the right to claim them; 7. The Company has sole discretion to cancel the sale or agree that the Consignor can cancel the deal, and reserve the right to claim all the losses suffered by the Company due to the cancellation of that deal; 8. The Company can place the Lot for auction again or sell it by other means according to the provisions of the Conditions of Business with the consent of the Seller, and the Company reserves the right to decide the Estimate and Reserve. The original Buyer shall pay the commission and other Buyer s Expenses and the Seller in the first auction, and it shall bear all the costs of the second auction or the sale of the Lotby other means. If the price obtained from the second auction or the sale of the Lot by other means is lower than the original auction sum, the original Buyer shall pay the shortfall; 9. To offset any monies related to the Lot that the Buyer owes the Company by any sums that the Company owes the Buyer in any other transactions; 10. The Company can decide to use any monies paid by the Buyer to repay any sums that the Buyer owes the Company in any other transactions; 11. To reject any bids made by the Buyer or its agent at future auctions, or to obtain auction deposit before accepting any bids; 12. To disclose the information of the Buyer to the Seller, so that the Seller can start a law suit to recover the outstanding amount, or claim damages and claim legal fees for the breach of contract by the Buyer. ARTICLE 59 REMEDIES FOR DELAY IN COLLECTING THE LOT If the Buyer fails to collect the purchased Lot 7 days after the Sale Date (including the Sale Date), the Company has the right to adopt one or more measures below: 1. All costs (including but not limited to the storage fee calculated and charged according tothe provisions of the Bidder Registration Order starting from the 31st day from the Sale Date (including the Sale Date) and/or risks for the taking out of an insurance policy and/or storing the Lot in the Company or other places shall be borne by the Buyer. Only after the Buyer has paid the full amount of the Purchase Price, it can collect the Lot (packing and moving costs, insurance expenses, expenses related to export shall be at the Buyer s expense); 2. The Buyer shall bear all the risks and expenses incurred after the deadline as stated in the Conditions of Business if it cannot collect the Lot concerned within that deadline. If the Buyer has not yet collected the Lot within 30 days from the Sale Date (including the Sale Date), after notifying the Buyer, the Company has the right to sell that Lot in a public auction or by a method and with methods and conditions that it considers suitable. Any proceeds after thededuction of all the losses, expenses (packing & moving costs, insurance costs, expenses related to export, Storage Fee, and notarial expenses etc.) incurred by the Company from the disposalshall be taken back by the Buyer; such balance is non-interest-bearing. If the Buyer fails totake the proceeds back two years after the Sale Date, the balance shall be deposited to a Hong Kong court by the Company after deducting the relevant expenses (including legal fees). ARTICLE 60 LIMITED WARRANTY 1. The Company provides general warranty to the Buyer: If the Lot sold by the Company is later found to be counterfeit one, the Company will cancel that deal according to the terms of the Conditions of Business, and will return to the Buyer in the currency of the original deal the Hammer Price together with the Buyer s Commission that the Buyer has paid to the Company for the Lot. In this regard, based on the reasonable opinion of the Company, counterfeits refer to frauds in various aspects such as the source, place of origin, date, production year, duration, culture or sources etc. of the article, and the correct description of the above points have not been recorded in the contents of the catalogue (any special terminologies are taken into consideration). Any damage and/or any type of restored item and/or repaired items (including repaintingor painting on top of it) of the Lot shall not be considered as counterfeit. Please pay attention that if any of the following situations happens, this warranty shall not apply; The contents of the catalogue are based ongenerally accepted opinion of academics and specialists on the selling date, or contradictions in opinions are shown in the contents of the catalogue; or On the selling date, the only method of proving the Lot is a counterfeit is not a method which can be used in general; which is recognized; which is extremely high price; the usage of such method is impractical; or this method may have caused damage to the Lot or may (according to the reasonable opinion of the Company) have already caused the Lot to lose value; or If the Lot has not lost any material value from the description of the Lot. 2. The deadline in this warranty is 5 years fromthe Auction Date concerned, these benefits are exclusively enjoyed by the Buyer, and shall not be transferred to any third party. In order tomake claims based on this warranty, the Buyer shall:-(1) notify the Company in writing withinone month after the receipt of any information which leads the Buyer to doubt the authenticity or attributes of the Lot, specifying the reference number of the Lot, date on which the Lot is purchased and reasons for which it is considered as counterfeit; (2) return the Lot to the Company in the same conditions as it was on the date of sale, and the proper ownership of it is transferrable, plus there are no claims from any third party after the Sale Date. 3. Regarding Southeastern Asian modern and contemporary art, Chinese painting and Chinese calligraphy and Chinese ink painting, althoughat present the academic sector does not permit the making of definitive statements, the Company reserves the discretion to cancel those deals of Lots which are proved to be counterfeit southeastern Asian modern and contemporary arts, Chinese painting and Chinese calligraphy and Chinese ink paintings within one year after the Auction Date based on this warranty. Paid sums shall be returned to the Buyer according to this term, however the Buyer shall provide evidences (based on the methods provided forin clause 2 and 4 of this article) to prove that the Lot is counterfeit within one year from the Auction Date; The Company can, at its discretion, decide to waive any of the above provisions. The Company has the right to demand from the Buyer two independent specialist reports which are recognized by the specialist sector concerned and which are accepted by the Company and the Buyer at the expense of the Buyer. The Company shall not be subject to any report presented by the Buyer, and retains the right to seek additional expert opinion at the expense of the Company. CHAPTER IV MISCELLANEOUS ARTICLE 61 OBTAINING INFORMATION, VIDEO TAKING In connection with the operation of the auction business of the Company, the Company may make audio recording, video recording of any auction process, and need to collect personal information from the Bidder or ask for the information of the Bidder from third parties (such as asking for credit review from banks). Such information will be handled and kept confidential by the Company. However the information concerned may be provided to the Company, its divisions, affiliates and subsidiaries in order to assist the Company to provide comprehensive services to Bidders, carry out client analysis, or in order to provide services that meet the requirements of the Bidder. For the sake of the interest of the Bidder, the Company may also provide some personal information of the Bidder to third party service providers (such as cargo liners or storage houses). By participating in the auction of the Company, the Bidder agrees to all previously stated disclosure. If the Bidder would like to obtain or amend his personal information, please contact the customer service department. ARTICLE 62 CONFIDENTIALITY The Company shall be obligated to keep confidentiality for the Seller, the Bidder and the Buyer and protect the legitimate rights of the Seller, the Bidder, the Buyer as well as the Company according to these Conditions of Business and the laws of Hong Kong. ARTICLE 63 AUTHENTICATION RIGHT The Company may authenticate the Lot if necessary. In case of any discrepancy between the authentication conclusion and the conditions of the Lot in the consignment auction contract, the Company shall have the right to request modification or rescission of the consignment auction contract. ARTICLE 64 COPYRIGHT The Seller authorizes the Company to produce photos, illustrations, catalogue, video products and advertising materials in other forms of the Lot that it has appointed the Company to place for auction, the Company is entitled to the above photos, illustrations, catalogue, video products and advertising materials in other forms of the Lot, and has the right to use them. Without prior written consent of the Company, the Buyer and anyone shall not use them. The Company and the Seller have not made any statement and warranty as to whether the Lot is restricted by copyright or if the Buyer has obtained any copyright of the Lot. ARTICLE 65 EXEMPTION FROM LIABILITY Being an agent of the Seller, the Company shall assume no liability for any breach of contract by the Seller or the Buyer. In case of the breach of contract by the Seller or the Buyer, the Company shall have the right to decide to disclose the other party s name and address to the Seller or the Buyer at its own discretion so that the damaged party may receive compensation for damages through legal proceedings. However,prior to the Company s disclosure of such materials to the Seller or the Buyer, the Company shall take the reasonable steps to notify the party whose materials are to be disclosed. ARTICLE 66 NOTICE The Bidder and the Buyer shall inform the Company their permanent and effective correspondent address and contact methods in the bidding registration documents or by other methods recognized by the Company. If there are changes, they shall inform the Company in writing immediately. The notices mentioned in the Conditions of Business only refer to written notices sent by letter or fax formats. A notice shall be deemed as served at the following moment: 1. If it is served by hand, when it reaches the address of the party concerned; 2. If it is sent by post, then it is the seventh day after it is posted; 3. If it is sent by fax, then it is the moment the outgoing fax transmission is confirmed by the fax machine. ARTICLE 67 SEVERABILITY If any terms or parts of the Conditions are confirmed as void, illegal or cannot be executed, other terms or parts of the Conditions are still valid, the parties concerned shall be abided by and execute them. ARTICLE 68 LAWS AND JURISDICTION The Conditions of Business and the related matters, transactions, any disputes caused by or inconnection with the participation in the auction activities of the Company pursuant to the Conditions of Business shall be subject to Hong Kong laws and shall be interpreted by Hong Kong laws. The Company and the Buyer and the Bidder shall submit to the exclusive jurisdiction of Hong Kong courts. ARTICLE 69 LANGUAGE The Chinese version of the Conditions of Businessshall be the standard texts; the English version is for reference only. Should there be any discrepancy between the English version and Chinese version, the Chinese version shall prevail. ARTICLE 70 OWNERSHIP OF THE COPYRIGHT OF THE CONDITIONS The Conditions of Business is prepared and revised by the Company, the copyright concerned belongs to the Company. Without the prior written approval of the Company, no one shall use any methods or means to use the Conditions of Business to obtain business benefits, and shall not make duplication, of any parts of the Conditions of Business. ARTICLE 71 APPLICABLE PERIOD The Conditions of Business is only applicable for this auction. The Company may update the Conditions of Business from time to time, when the Bidder and the Buyer participate in another auction, the then applicable Conditions of Business shall prevail. ARTICLE 72 RIGHT OF INTERPRETATION The right of interpretation of these Rules shall belong to the Company.

競投登記須知 IMPORTANT NOTICE ABOUT BIDDING REGISTRATION 財務付款須知 IMPORTANT NOTICE ABOUT PAYMENT 閣下參與競投登記時須填寫競投牌登記表格並提供有關身份證明文件, 繳納保證金, 以辦理登記手續 I. When you register to bid in an auction, you must fill in the Bidding Registration Form, provide the relevant identity document, and pay a deposit in order to handle the registration formalities. 二 競投登記時須提供之文件 : 1. 個人 : 政府發出附有照片的身份證明文件 ( 如居民身份證或護照 ), 及現時住址證明 ( 如身份證明文件未有顯示現時住址 ), 如公用事業賬單或銀行月結單 2. 公司客戶 : 公司註冊證書以及股東證明文件 3. 代理人 : 代理人的身份證明文件, 代理人代表的競投人士 / 單位之身份證明文件, 以及該人士 / 單位簽發的授權書正本 敬請注意, 保利香港拍賣不接受第三方付款 - 此規定亦適用於代理人 如閣下代表他人參與競投, 保利香港拍賣僅接受委託人之付款 4. 新客戶以及未在北京保利國際拍賣有限公司成功競投拍賣品的客戶, 須提供銀行發出之信用證明 建議首次參與競投的新客戶於拍賣會前至少 3 個工作天前辦理登記, 以便有充足的時間處理登記資料 II. Documents that must be provided when completing the bidding paddle registration: (1) Individuals: identity document with photo issued by the government (such as resident identity card or passport) and proof of current address (if the current address is not shown in the identity document), e.g. utility bill or banks tatement. (2) Corporate clients: a certificate of incorporation and proof of shareholding. (3) Agent: identity document of the agent, identity document of the bidding person/company that the agent represents, original signed authorization letter from that person/ company. Please note that Poly Auction (Hong Kong) does not accept payment from a third party and this also applies to agent. If you participate in the bidding on behalf of others, Poly Auction (Hong Kong) only accepts the payment of the principal. (4) New clients and those clients who have not yet successfully bought Properties from Beijing Poly Intemational Auction Co., Ltd. must provide credit proof issued by banks, and must complete the registration at least three business days before the auction so that there will be enough time to process the registration. 三 因閣下是首次參與競投, 如未獲得我方認可的註冊客戶推薦, 保證金為港幣 500,000 元 如閣下打算競投高估價拍賣品 ( 在圖錄內或電子圖錄內標有〇符號之拍賣品 ), 保證金為港幣 1,000,000 元 保利香港拍賣可要求競投高估價拍賣品的準競投人完成預先登記程序及交付保證金或其他由保利香港拍賣決定之更大金額的保證金及任何財務狀況証明, 擔保或及其他由保利香港拍賣可全權酌情決定要求的抵押作為參加保利香港拍賣競投的保障 III. If this is the first time you participate in bidding with Poly Auction (Hong Kong), and you have not been recommended by a registered client endorsed by us, the deposit will be HK$ 500,000. If you intend to bid on a Premium Lot (i.e., a lot marked 〇 in the printed catalogue or the digital catalogue), the deposit will be HK$1,000,000, and in either case, you must deliver to Poly Auction (Hong Kong) such necessary financial references, guarantees, deposits and/or such other security as Poly Auction (Hong Kong) may in its absolute discretion require for your bid. 四 所有保證金必須以電匯或信用卡 / 銀聯卡以港幣付款 ( 閣下必須親自使用您名下的信用卡 / 銀聯卡 ) 如閣下未能投得任何拍賣品, 保利香港拍賣將安排在拍賣結束後十四個工作日內退回閣下已付的保證金 ( 不包含利息 ) 如閣下成為買家, 保利香港拍賣有權可用該保證金作為支付拍賣品購買價款的款項 任何涉及退款的兌換交易損失或費用, 將由閣下承擔 IV. All deposits must be paid in HK dollars by telegraphic transfer or credit card/union Pay Card under your name in person. If you have not successfully bid any Property, Poly Auction (Hong Kong) will arrange to return the deposit (without interest) that you had paid within 14 days after the end of the auction. If you are a buyer, Poly Auction (Hong Kong) canuse the deposit to offset any amount of purchase price of the lot(s) bought by you. Any losses or expenses on foreign currency conversion involved in the refund will be borne by you. 五 本公司有權要求競投人提供財務狀況證明 擔保 存款證明, 或本公司可絕對酌情要求競投人為其有意競投的拍賣品提供的其他抵押 本公司保留調查競投人資金來源的權利 V. Our company has the right to demand the Bidder to provide proof of financial conditions, guarantee, proof of bank deposit and/or our company can demand, at its absolute discretion, the Bidder to provide other collateral for the Property that the latter intends to bid. Our company reserves the right to investigate the sources of funds of the Bidder. 一 拍賣成交後, 買家應支付落槌價連相應於該落槌價之適用佣金 拍賣成交日 ( 含成交日 ) 起七日內, 買家應向本公司付清購買價款並提取拍賣品 I. In addition to the Hammer Price, the Buyer agrees to pay the applicable commission in respect of such Hammer Price. Payment must be made within 7 calendar days (including the day of Sale) from the day of sale. This applies even if the Buyer wishes to export the lot and export licence is (or may be) required. 二 自拍賣成交日 ( 含成交日 ) 起的第三十一日起, 買家須為本次拍賣會未領取的拍賣品支付儲存費, 每件每月港幣八百元 儲存不足一個月者, 亦須繳付整月儲存費 儲存費不包括其他額外費用, 如保險 包裝和運輸費, 其他額外費用將會另行收取 II. Where Properties are not collected within 30 calendar days (including the day of sale) from the day of sale, the Buyer must pay the monthly storage fee of HK$800 per lot starting from the 31st day. For storage of less than one month, one whole month s storage fee will be charged. All other additional expenses such as insurance, packing & transport costs will be charged separately. 三 本公司接受以下幾種付款方式 : 電匯付款方式最好以電匯的方式直接轉入本公司的銀行賬戶 請將匯款指示連同您的姓名及競投牌號或發票號碼一起交予銀行 戶行 : 香港上海匯豐銀行有限公司戶名 : 保利香港拍賣有限公司號碼 :004-848-360475-838 收款銀行代號 : HSBCHKHHHKH 銀行代碼 : 004 戶行 : 交通銀行股份有限公司香港分行戶名 : 保利香港拍賣有限公司號碼 :027-536-9-311-5318 收款銀行代號 : COMMHKHH 銀行代碼 : 027 III. Our company accepts the following types of payment: TELEGRAPHIC TRANSFER Payment should preferably be made by telegraphic transfer directly to our company s account. Please include your name and paddle number or invoice number with your instructions to the bank. Bank: The Hongkong and Shanghai Banking Corporation Limited Account Name: Poly Auction (Hong Kong) Ltd. Account No: 004-848-360475-838 SWIFT: HSBCHKHHHKH Bank Code: 004 Bank: Bank of Communications Co., Ltd. Hong Kong Branch Account Name: Poly Auction (Hong Kong) Ltd. Account No: 027-536-9-311-5318 SWIFT: COMMHKHH Bank Code: 027 信用卡 / 銀聯卡買家如以信用卡 銀聯卡方式支付購買價款, 則需承擔相當於付款金額一定百分比的公司行政費, 且買家本人須持卡到本公司辦理 本公司接受信用卡付款之 上限為港幣 1,000,000 元 ( 每一場拍賣 ), 但須受有關條件與條款約束 CREDIT CARD/UNIONPAY CARD Our company accepts payments by credit cards/ UnionPay up to HK$1,000,000 per auction sale. The Buyer must bear administration fees at a certain percentage of the amount paid according to the rules of the bank. 支票本公司接受個人支票與公司支票, 但請留意買家須於支票承兌後方可提取拍賣品 本公司不接受旅行支票付款 CHEQUE Our company accepts personal and company cheques,but please be reminded that the purchases will not be released until such cheques have been cleared. Traveler s cheques are not accepted. 現金如以現金或銀行本票繳付款項, 則可立即提取拍賣品 惟本公司恕不接受以一筆或多次付款形式用現金支付超過港幣 80,000 元或同等價值外幣之款項 CASH If payment is made by cash or cashier order, the purchases will be released immediately. However, our company does not accept sums exceeding HK$80,000 (or its equivalent in other currencies) in cash in a single or multiple payments. 四 所有價款應以港幣支付 如買家以港幣以外的其他貨幣支付, 應按買家與本公司約定的匯價折算或按照本公司選擇之銀行於買家付款日前一個工作日公佈的港幣與該貨幣的匯價折算, 並以本公司所發出之單據上所列之匯率為準 本公司為將買家所支付之該種外幣兌換成港幣所引致之所有銀行手續費 佣金或其他費用, 均由買家承擔 IV. If the payment made in a currency other than Hong Kong Dollars, we shall charge the Buyer for any currency costs incurred. This will include bank charges, commissions for converting the currency. The exchange rate of Hong Kong Dollars and that currency will be the rate quoted by such bank as selected by the company, in Hong Kong on the date of payment. 五 本公司將向競投登記表格上的姓名及地址發出售出拍賣品的賬單, 且登記的姓名及地址不得轉移 V. Our company will issue an invoice of property sold under the name and address on the Bidding Registration Form and the registered name and address should not be transferred. 六 本公司不接受除買家外的任何第三方付款 此項規定亦適用於代理人 如代理人代表他人參與競投, 僅接受委託人的付款 除接受買家付款外, 本公司保留拒收其他來源付款的權利 VI. Our company does not accept payment from a third party other than the Buyer. This applies to the agent as well. If the agent participates in the auction on behalf of others, we only accept payment from the principal. Other than accepting payment from the Buyer, our company reserves the right to reject payments from other sources.

保利香港拍賣有限公司 ( 保利香港拍賣 ) 競投登記表格 競投牌編號 : 客戶編號拍賣編號圖錄編號 姓 名 公司名稱 身份證 / 護照編號 商業登記編號 被授權代表 被授權代表身份證 / 護照編號 地址 城市國家郵政編號 電話傳真電郵 拍賣類別 : 中國及亞洲現當代藝術 中國當代水墨 中國近現代書畫 中國古代書畫 中國古董珍玩 珠寶及鐘錶 其他 閣下曾否於北京保利國際拍賣有限公司拍賣登記競投? 有 沒有 請附上身份證或護照影印本及住址證明 ( 如公用事業賬單或銀行月結單 ) 以作核對用途 本人特此確定申請競投拍賣品 本人同意向保利香港拍賣交付所需的財政狀況證明 擔保 存款證明及或保利香港拍賣可絕對酌情要求本人為競投須作出的其他抵押 本人同意保利香港拍賣並無責任接受此競投牌登記申請表及保利香港拍賣對此有最終決定權 除收到保利香港拍賣之書面通知確定此申請表有效或發給之競投牌, 本人並不應假設保利香港拍賣已接納此拍賣品預先登記申請表 拍賣官可代表賣家為任何拍賣品叫第一口價以開始競投 拍賣官更可代表賣家以接連投標或競投之方式就拍賣品作出競投直至達到保留價 閣下授權保利香港拍賣向銀行索取有關本人之財務資料 基於管理 經營業務 市場推廣以及保利香港拍賣提供之服務或按法律規定之用途保利香港拍賣可能向客戶要求提供其個人資料或向協力廠商索取有關資料, 如信貸資料等 保利香港拍賣在未獲得客戶明確同意前將不會將該等個人資料作其他用途 為履行客戶所要求之服務, 保利香港拍賣有可能向協力廠商, 如船務公司披露資料 部份國家未能提供與香港相同之個人資料法律保障 根據保利香港拍賣的公司政策, 將要求該協力廠商尊重客戶之私隱, 將客戶的資料保密並提供與香港相同程度之個人資料保障, 不論他們所處國家能否提供對個人資料之相同法律保障 本人於此拍賣品預先登記表簽署, 即同意有關披露 保利香港拍賣不會接納逾八萬港幣 ( 或相等貨幣 ) 之現金款項 應保利香港拍賣業務規則, 本公司有權向支付現金的買家或新顧客索取有效身份證明文件 通訊位址證明及現金來源證明 本人同意接受圖錄內列明之業務規則 重要通告 須知 應保利香港拍賣要求, 本人同意提供有效身份證明文件及通訊地址證明 買家及賣家之合約於拍賣官落槌時訂立, 而閣下作為買家必須於拍賣會結束後立即以港元支付拍賣品之購買價款及任何買家之費用 簽署 日期 如閣下計劃出席是本次拍賣並競投拍賣品, 請填妥以下表格及於拍賣日前 3 個工作天傳真至 (852) 2303 9888 或郵寄到本公司地址如下 : 保利香港拍賣有限公司香港金鐘道 88 號太古廣場 1 期 7 樓電話 : (852) 2303 9899 傳真 : (852) 2303 9888 本欄由保利香港拍賣專用保證金付款方法 : 電匯 本票 支票 信用卡 (VISA / 萬事達 / 银聯 ) 經辦審核日期及時間

POLY AUCTION (HONG KONG) LIMITED ( POLY AUCTION (HONG KONG) ) 保利香港拍賣有限公司 ( 保利香港拍賣 ) Paddle No. BIDDING REGISTRATION FORM 委託競投表格 競投牌編號 : Client No. Sale No. Lot No. Personal Account Company Account 郵寄或傳真至 : 保利香港拍賣有限公司地址 : 香港金鐘道 88 號太古廣場 1 期 7 樓電話 :(852) 2303 9899 傳真 :(852) 2303 9888 客戶編號 姓 名 公司名稱 First Name ID / Passport No. Authorized Person Address Last Name Auction Category: Chinese and Asian Modern & Contemporary Art Chinese Contemporary Ink Paintings Fine Modern Chinese Paintings and Calligraphy Classical Chinese Paintings and Calligraphy Chinese Ceramics and Works of Art Jewels and Watches Other Category Have you registered to bid at Poly International Auction Co. Ltd. before? Yes No Company Name Business Registration No. Authorized Person ID/Passport No. City Country Postal Code Telephone Fax Email Please attach a copy of your ID Card/Passport and proof of current address (e.g. utility bill and bank statement) for identification purpose. I hereby confirm my intention and application to bid on the above Lot. I agree to deliver to Poly Auction (Hong Kong) such necessary financial references, guarantees, deposits and/or such other security as Poly Auction (Hong Kong) may in its absolute discretion require as security for my bid. I agree that Poly Auction (Hong Kong) has no obligation to accept this registration application and that Poly Auction (Hong Kong) s decision in this regard shall be final. I shall not assume Poly Auction (Hong Kong) s acceptance of my registration application unless I have received a written confirmation from Poly Auction (Hong Kong) to that effect or a bidding paddle. Please note that the auctioneer may open the bidding on any lot by placing a bid on behalf of the seller. The auctioneer may further bid on behalf of the seller up to the amount of the reserve, by placing responsive or consecutive bids for a lot. You authorize Poly Auction (Hong Kong) to request a financial reference from your bank. In connection with the management and operation of our business and the marketing and supply of Poly Auction (Hong Kong) services, or as required by law, we may ask clients to provide personal information about themselves or obtain information about clients from third parties (e.g. credit information). Poly Auction (Hong Kong) will not use or process personal information for any other purpose without the client s express consent. In order to fulfill the services clients have requested, Poly Auction (Hong Kong) may disclose information to third parties (e.g. shippers). Some countries do not offer equivalent legal protection of personal information to that offered within Hong Kong. It is Poly Auction (Hong Kong) s policy to require that any such third parties respect the privacy and confidentiality of our clients information and provide the same level of protection for clients information as provided within Hong Kong, whether or not they are located in a country that offers equivalent legal protection of personal information. By signing this Registration Form you agree to such disclosure. It is against Poly Auction (Hong Kong) s general policy to accept single or multiple related payments in the form of cash or cash equivalents in excess of HK$80,000 (or its equivalent in other currencies). It is Poly Auction (Hong Kong) s policy to request any new clients or purchasers preferring to make a cash payment to provide proof of identity (by providing some form of government issued identification containing a photograph, such as a passport, identity card or driver s license) and confirmation of permanent address. We reserve the right to seek identification of the source of funds received. Thank you for your cooperation. By signing below, I agree to be bound by the Conditions of Business and all the important notices as printed in the catalogue. If Poly Auction (Hong Kong) so requests, I agree to provide proof of identity and permanent address. The contract between the buyer and the seller is concluded on the striking of the auctioneer s hammer, and payment of the purchase price for any lot and any buyer s expenses is due immediately in Hong Kong dollars on the conclusion of the auction. 戶行 : 香港上海匯豐銀行有限公司戶名 : 保利香港拍賣有限公司號碼 : 004-848-360475-838 SWIFT: HSBCHKHHHKH 銀行編號 : 004 戶行 : 交通銀行股份有限公司戶名 : 保利香港拍賣有限公司號碼 : 027-536-9-311-5318 SWIFT: COMMHKHH 銀行編號 : 027 委託競投表格須於拍賣日前三個工作日或之前遞交客戶服務部 保利香港拍賣將以傳真或錄音電話等方式確認收到閣下之書面競投表格 若於一個工作日內還未有收到確實回覆, 請重新遞交表格 書面競投. 競投將以盡可能低之價格進行 在適當情況下, 閣下之書面競投價將會被大概調整至最接近拍賣官遞增之競投金額. 購買 或 無限價競投 將不被接納, 及我們不接納 加一口價 競投標 請根據圖錄內之指示投標. 如保利香港拍賣就同一拍賣品收到兩個或兩個以上競投價相同的書面競投, 而在拍賣時此等競投價乃該拍賣品之最高競投價, 則該拍賣品會歸於其書面競投最先送抵保利香港拍賣之競投人. 拍賣官可直接於拍賣台上執行書面競投 電話競投. 請清楚注明於拍賣期間可聯絡閣下之即時通訊方式及工具, 我們會於閣下擬競投之拍賣品競投前致電給閣下, 該即時通訊工具所傳達之競投信息 ( 無論是否為閣下本人傳達 ), 均視為閣下所為, 閣下應對其行為承擔法律責任. 所有電話競投可能會被錄音 選擇電話競投即代表競投人同意其電話被錄音 身份證或護照編號 被授權代表 地址 商業登記編號 被授權代表身份證編號 城市國家郵政編號 電話 #1 電話 #2 傳真 電郵 選擇語言 重要提示 :. 保利香港拍賣不接受包括代理人之內之第三方付款 ; 不接受逾港幣八萬元 ( 或等值貨幣 ) 之現金款項 ; 且發票資訊於拍賣會完結後將不能更改. 請閣下提供以下文件之經核證副本 : 個人 : 政府發出附有照片的身份證明文件 ( 如居民身份證或護照 ) 及 ( 如身份證明文件未有顯示現時住址 ) 現時住址證明, 如公用事業賬單或銀行月結單 公司客戶 : 公司註冊證書以及股東證明文件 代理人 : 代理人的身份證明文件, 代理人代表的競投人士 / 單位之身份證明文件, 以及該人士 / 單位簽發的授權書正本. 保利香港拍賣僅接受本書面格式的委託競投表格 茲申請並委託保利香港拍賣就本申請表所列拍賣品進行競投, 並同意如下條款 : 一 本人承諾已仔細閱讀刊印於本圖錄上的保利香港拍賣業務規則 重要通告 競投登記須知及財務付款須知, 並同意遵守前述規定之一切條款 二 保利香港拍賣業務規則之委託競投之免責條款為不可爭議之條款 無論是由於疏忽或其它原因引致, 本人不追究保利香港拍賣及其工作人員競投未成功或未能代為競投的相關責任 三 本人須於拍賣日前三個工作日或之前向保利香港拍賣出具本委託競投表格 並根據保利香港拍賣公佈的條件和程序辦理競投登記手續 如在規定時間內保利香港拍賣未收到本人支付的相應金額的競投保證金, 或保利香港拍賣未予審核確認的, 則本表格無效 四 買家及賣家之合約於拍賣官落槌時訂立 如拍賣成交, 本人同意於拍賣會結束 ( 含成交日 ) 後七日內以港幣付清拍賣品之落槌價 拍品門類 : 中國及亞洲現當代藝術及珠寶鐘錶 : 首港幣 1,000,000 元之 18%, 及逾港幣 1,000,000 元之部份則以 15% 計算, 拍品門類 : 中西名酒珍釀, 按每件拍品落槌價之 18% 的佣金, 其餘拍品門類則按每件拍品落槌價之 15% 的佣金以及任何買家負責的各項費用 並於拍賣會結束 ( 含成交日 ) 後三十日內領取拍賣品 ( 包裝 運輸及保險費用 出境費等自行承擔 ) 如本人逾期未提取拍賣品, 則應支付八百港元 / 月 / 件的標準儲存費 儲存費不包括其他額外費用, 如保險和運輸費, 其他額外費用將會另行收取 拍賣編號圖錄號拍賣名稱最高競投價 ( 未包含佣金 ) 港幣 港幣 港幣 港幣 港幣 港幣 SIGNATURE If you plan to attend the sale and bid on a lot, please fill out this form and fax it to (852) 2303 9888 or mail to the following address in either case to reach Poly Auction (Hong Kong) no later than 3 working days prior to the day of sale: Poly Auction (Hong Kong) Limited, 7/F, One Pacific Place, 88 Queensway, Admiralty, Hong Kong Tel: (852) 2303 9899 Fax: (852) 2303 9888 DATE 簽署 : 日期 : 港幣 港幣 港幣 FOR OFFICE USE ONLY Deposit payment: Wire Transfer Cashier Order Cheque Credit Cards (VISA, MASTER, CUP) 本欄由保利香港拍賣專用保證金付款方法 : 電匯 本票 支票 信用卡 (VISA / 萬事達 / 银聯 ) Handled by Approved by Date / Time 經辦審核日期及時間

POLY AUCTION (HONG KONG) LIMITED ( POLY AUCTION (HONG KONG) ) ABSENTEE BID REGISTRATION Mail or Fax to: Poly Auction (Hong Kong) Limited Address: 7/F, One Pacific Place 88 Queensway, Admiralty Hong Kong Phone: (852) 2303 9899 Fax: (852) 2303 9888 Bank: The Hongkong and Shanghai Banking Corporation Limited Account Name: Poly Auction (Hong Kong) Ltd. Account No: 004-848-360475-838 SWIFT: HSBCHKHHHKH Bank Code: 004 Bank: Bank of Communications Co., Ltd. Hong Kong Branch Account Name: Poly Auction (Hong Kong) Ltd. Account No: 027-536-9-311-5318 SWIFT: COMMHKHH Bank Code: 027 This Absentee bid registration must be sent to the customer service department at least three business days before the Auction Day. Poly Auction (Hong Kong) will confirm receipt of your Absentee bid registration by fax or recorded phone message etc. If you have not received definite reply within one working day, please send in the form again. ABSENTEE BIDS Bidding will be conducted at the lowest possible price. If appropriate, your absentee bids will be roughly adjusted to the bidding increment of the Auctioneer as close as possible. Buy or unlimited bids will not be accepted and we do not accept plus one bids. Please place bids in the same order as in the catalogue. If Poly Auction (Hong Kong) receives two or more absentee bids at the same bidding price, and during the Auction, such bidding prices are the highest bids for that Property, then that Property will belong to the Bidder whose absentee bid reaches Poly Auction (Hong Kong) first. The Auctioneer can execute absentee bids directly on the Auction stage. TELEPHONE BIDS Please indicate clearly the instant communication methods and instruments that you can be contacted during the auction period, we will phone you before the bidding of the Property that you intend to bid for, the bidding information transmitted by that instant communication instruments (whether or not it is transmitted by you personally) shall be considered as transmitted by you, and you shall bear legal responsibilities for the actions taken by it. All telephone bids may be recorded, by opting for telephone bids, the Bidder agrees that its phone conversation will be recorded. IMPORTANT REMINDER: Sale Lot No. Lot Name Client No. Personal Account First Name ID / Passport No. Authorized Person Address Last Name Company Account Company Name Business Registration No. Authorized Person ID/Passport No. City Country Postal Code Telephone #1 Telephone #2 Fax Email Paddle No. Preferred language Poly Auction (Hong Kong) does not accept payment from third parties (agent inclusive), nor cash in excess of HK$80,000 (or its equivalent in other currencies), and that the invoice details cannot be changed after the end of the Auction. Please provide certified true copies of the following documents: o Individuals: identity document with photo issued by the government (such as resident identity card or passport) and proof of current address (if the current address is not shown in the identity document), e.g. utility bill or bank statement. o Corporate clients: a certificate of incorporation and proof of shareholding. o Agent: identity document of the agent, identity document of the bidding person/company that the agent represents, original signed authorization letter from that person/company. Poly Auction (Hong Kong) only accepts Bidding Form in this written format. I hereby apply for and appoint Poly Auction (Hong Kong) to conduct bidding for the Property(ies) listed in this Absentee bid registration, and agree to the following terms: 1. I undertake that I have carefully read and accept the Conditions of Business, Important Notices, Important Notices about Bidding Registration and Important Notices about Payment of Poly Auction (Hong Kong) published in the catalogue, and agree to be bound by all the terms of the above mentioned provisions. 2. The disclaimer of absentee bid of the Conditions of Business of Poly Auction (Hong Kong) is indisputable, I shall not seek to establish the relevant responsibilities of Poly Auction (Hong Kong)and its staff for unsuccessful bidding or their inability to bid on my behalf regardless such is caused by negligence or other reasons. 3. I shall present this Absentee bid registration to Poly Auction (Hong Kong) at least three business days before the Auction Day, and complete the bidding registration according to the conditions and procedures announced by Poly Auction (Hong Kong). If Poly Auction (Hong Kong) has not received the amount corresponding to the Auction deposit that I have paid or Poly Auction (Hong Kong) has not verified and confirmed it within the period stipulated, this form shall be void. 4. The contract between the Buyer and Seller shall be concluded upon the striking of hammer by the Auctioneer. If the Property is sold, I agree to pay in Hong Kong dollars the Hammer Price, a commission 18% of the hammer price of each lot up to and including HKD 1,000,000; and 15% of the excess of the hammer price above HKD 1,000,000 of each lot for Chinese and Asian Modern & Contemporary Art & Jewels & Watches. 18% of the hammer price of each lot for Chinese & Western Wine and equivalent to 15% of the hammer price of each lot for the rest categories and any Buyer s expenses within 7 calendar days (including the day of sale), from the day of sale, and collect the Property (packaging, transport costs, insurance expenses and export-related expenses etc. are at my expense) within thirty days after the end of the sale (including the day of sale). If I have not collected the Property within the deadline, then I shall pay storage fee at HK$800/piece/month and all other additional expenses such as insurance, packing & transport costs will be charged separately. Highest Bid (Commission not including) HKD HKD 裝運委託 運輸信息請填寫此表格, 我們會安排我們指定的貨運代理之一寄送您所有購買的拍賣品, 費用由您承擔 若需要配送方面的建議, 請致電保利香港運輸部門 (852) 2303 9899 帳戶號碼 : 費用於正式處理配送之前, 本人需要 / 不需要報價 運輸保險僅適用於郵件託運請安排 / 不要安排運輸保險 除非另行指定, 所有拍賣品將按其總價受保 請不要拆除包裝 ( 玻璃物品將被棄置 ) 請拆除包裝與玻璃物品 注意 : 價值超過 10,000 港幣或重量超過 2 公斤的物品不能通過郵件寄送 SHIPPING INSTRUCTIONS SHIPPING INFORMATION Please complete this Form and we shall arrange for the dispatch of all your purchases through one of our nominated shipping agents, at your expense. For advice on shipping your purchases please call Poly Auction (Hong Kong)'s shipping department on (852) 2303 9899. ACCOUNT NUMBER: CHARGES I do/do not require a quotation before the shipment is processed. INSURANCE IN TRANSIT Please arrange/do not arrange transit insurance. All lots will be insured at the aggregate price unless otherwise specified. 銷售詳情 銷售編號 # 拍賣品編號 # 發票編號 # 寄送方式 掛號 / 空運 / 商業快遞 送達地址 電話 帳單地址如不同上述送達地址 電話 特別指示 : 簽署 是 / 否 Please complete this section and delete where applicable SALE DETAIL Sale # Lot # Invoice# Methods of Dispatch Registered post/air fright/commercial Courier Delivery Address Telephone 傳真 傳真 日期 Fax 請填寫此部分並劃去不適用部分 HKD HKD HKD HKD POSTAL CONSIGNMENTS ONLY Please do not remove frames. (Glass will be discarded). Please remove frames and glass. NB items valued in excess of HK$10,000 or weighing more than 2kg cannot be sent by Post. Invoice Address if different from above Telephone Fax HKD HKD Special instructions: Y/N Signature: Date: Signature Date FOR OFFICE USE ONLY Deposit payment: Wire Transfer Cashier Order Cheque Credit Cards (VISA, MASTER, CUP) Handled by Approved by Date / Time

全球保利拍賣辦事處 WORLDWIDE OFFICES 香港 (Hong Kong) 保利香港拍賣有限公司香港金鍾道 88 號太古廣場 1 期 7 樓電話 :(852) 2303 9899 傳真 :(852) 2303 9888 電郵 :sale@polyauction.com.hk 北京 (Beijing) 保利香港拍賣有限公司北京代表處北京朝陽門北大街 1 號新保利大厦 9 層聯繫人 : 楊曦李海英王媛媛電話 :(86-10) 6408 2592 傳真 :(86-10) 6408 2188 電郵 :beijing@polyauction.com.hk 上海 (Shanghai) 保利香港拍賣有限公司上海代表處延安中路 1135 弄 5 號樓 428 室靜安花園商務樓聯繫人 : 張瑾黃洁電話 :(86-21) 5178 0399 傳真 :(86-21) 5178 0399 電郵 :shanghai@polyauction.com.hk 香港 北京保利圖錄預訂 CATALOGUES 韓國 (Korea) ( 韓國 ) 首爾拍賣有限公司 ( 油畫 ) Seoul Auction 98 Pyeongchang-Dong, Jongno-Gu, Seoul, Korea, 110-846 電話 :(822) 3950330 傳真 :(822) 3950338 新加坡 (Singapore) 斯民國際藝苑 ( 油畫 ) SooBin Art Int'L 10 Ubi Crescent, Ubi Techpark Lobby C, # 04-90 Lobby E Singapore 408564 電話 :(65) 68372777 傳真 :(65) 63397767 印尼 (Indonesia) Fang Gallery 芳藝術 ( 油畫 ) The Plaza 27th Floor,Jl.M.H.Thamrin Kav28-30,Jakarta 10350 Lndonesia Tel: (62) 2129923311 Fax: (62) 2129923311 濟南 Jinan 中寶齋 ( 書畫古董 ) 山東省濟南市馬鞍山路 2-1 號山東大厦一層電話 :(86-531) 86953009 榮寶齋青島經銷店 ( 書畫古董 ) 青島市閩江三路 12 號電話 :(86-532) 88080822 傳真 :(86-532) 88080833 厦門 Xiamen 謙記古美術館厦門市湖濱中路 100 號白鷺洲東公園 C 幢電話 :(86-592) 2209995 傳真 :(86-592) 5320009 太原 Taiyuan 晋寶齋 ( 書畫古董 ) 山西省太原市迎澤大街 376 號電話 :(86-351) 4034756 傳真 :(86-351) 4034962 台灣 (Taiwan) 保利香港拍賣有限公司台灣代表處台北市中山區中山北路二段 39 巷 6 號 5 樓聯繫人 : 黄宏任張榛育林雪涵電話 :(886) 2 2581 3855 傳真 :(886) 2 2522 2595 電郵 :taipei@polyauction.com.hk 日本 (Japan) 保利拍賣日本代表處東京都中央區銀座 2 丁目 12-4-601 Duplex 銀座 2/12 1040061 聯繫人 : 風見治子吳駕晟電話 :81 36278 8011 傳真 :81 36278 8012 美國 (USA) 保利拍賣紐約代表處 (New York) Bar Building, 36 West 44th Street, New York 聯繫人 : 黃健電話 :1 212 273 0822 電郵 :nyc@polyauction.com * 圖錄預訂可聯系全球各地代表或以下合作單位 : 大希堂 ( 書畫古董 ) 山西省太原市迎澤大街 248 號南宮文化樓 201 室電話 :(86-351) 4085383 傳真 :(86-531) 4180191 宜興 Yixing 江蘇保利典當行 ( 書畫 ) 江蘇省宜興市太隔橋北側綜合樓電話 :(86-510) 68995988 傳真 :(86-510) 68995988 江陽 Jiangyang 劉家大院文化產業有限公司江蘇省江陽市板橋南處傳真 :(86-510) 68970068 南京 Nanjing 江蘇畫店 ( 書畫 ) 南京市王府大街朝天宮 2 號 2 樓電話 :(86-25) 83719611 傳真 :(86-25) 83719611 小玲瓏山館 ( 書畫 ) 南京市秦淮區應天大街 388 號 1865 創意產業園 D3 幢二層郵編 :210000 電話 :(86-25) 51885928 傳真 :(86-25) 51885938 電郵 :457352163@qq.com 泓雅堂 ( 書畫 ) 南京市中山北路 8 號紫峰大厦 1805 室郵編 :210008 電話 :(86-25) 84461185 傳真 :(86-25) 83719611 德嘉藝苑 Hangzhou 杭州市吳山路 40 號郵編 :310006 電話 :(86-571) 87088880 保利拍賣洛杉機代表處 (Los Angeles) 聯繫人 : 趙東黃正電話 :1 800 332 2892 / 1 408 838 8819 電郵 :polyusa@polyauction.com 澳大利亞 (Australia) 保利拍賣悉尼聯繫處 337A Liverpool Road Ashfield NSW 2131 聯繫人 : 許多倫電話 :(61) 401978282 / (61) 411711918 保利拍賣墨爾本聯繫處 Suite B, Level 1, 253 Lonsdelest Melb 3000 Australia 聯繫人 : 潘乃建電話 :(61) 401978282 / (61) 396713116 / (61) 426829868 法国 (France) 聯繫人 : 曾錦武電話 :(33) 617805335 電郵 :jwzeng@polyauction.com.hk 加拿大常年徵集電話 :1-888-207-9395 成都 Chengdu 杜甫草堂詩書畫院 ( 書畫 ) 成都市草堂路杜甫草堂博物館郵編 :610072 電話 :(86-28) 87336795 E-mail:dscthy@126.com 廣州 Guangzhou 榮和堂 ( 書畫 ) 廣州市越秀區盤福路 79 號傾城酒店十樓電話 :(86-20) 81749713 福州 Fuzhou 福州畫院 墨園 ( 書畫 ) 福建省福州市于山路 2 號電話 :(86-591) 83333867 83366176 傳真 :(86-591) 83337963 西安 Xi'an 亮寶樓西安雁塔區雁引路 35 號 ( 書畫古董 ) 電話 :(86-029) 82069868/75/78 電郵 :sxliangbaolou@163.com 河南 Henan 鄭州市城南路 187 號碧潭畫苑電話 :(86-0371) 66379799 電郵 :zysf6789@126.com BEIJING 執行董事 : 趙旭 ds@polyauction.com 主要業務聯繫方式 : 中國古董珍玩部總經理 : 李移舟 E-mail: gd@polyauction.com 瓷器 工藝品高級業務經理 : 李嘉偉業務經理 : 麻正 ( 明清紫砂 ) 聯繫電話 :(86-10) 64082136 玉器 漆器 珐瑯器高級業務經理 : 付瀅蓉業務經理 : 李瑩業務助理 : 許昂聯繫電話 :(86-10) 64082230 古琴 家具 鼻煙壺高級業務經理 : 鄭陽聯繫電話 :(86-10) 64082136 E-mail: zhy@polyauction.com 國石 現當代藝術陶瓷高級業務經理 : 黨志新陰懿萍學術顧問 : 陳海波聯繫電話 :(86-10) 64082182 銅鏡高級業務經理 : 郭靖 E-mail: guojing@polyauction.com 業務經理 : 張毅博 E-mail: tj@polyauction.com 聯繫電話 :(86-10) 64082450 古董珍玩海外拓展主管 : 宮諍聯繫電話 :(86-10) 64082175 天珠 沉香 藏傳佛教藝術聯系人 : 姜彎彎聯繫電話 :(86-10) 64082186 E-mail: polyusa@polyauction.com POLY AUCTION 業務聯系 公司總機 :(86-10) 64082277 傳真 :(86-10) 64082188 公司地址 : 北京市東城區朝陽門北大街 1 號新保利大厦 3 層 保利香港拍賣有限公司電話 :852-23039899 傳真 :852-23039888 地址 : 金鐘道 88 號太古廣場一座 7 樓 Email: sale@polyauction.com.hk 郵品錢蔽部總經理 : 桑貫宇 E-mail: johnnysang@polyauction.com 高級業務經理 : 李君傑業務經理 : 王超聯繫電話 :(86-10) 64082195 E-mail: yp@polyauction.com 古董珍玩季拍部總經理 : 李屾 E-mail: gd@polyauction.com 業務經理 : 文明遠王井森業務助理 : 侯羽范博涵趙富餘聯繫電話 :(86-10) 64082176 總經理 : 李達 gm@polyauction.com 副總經理 : 彭兆君 pzj@polyauction.com.hk 上海代表處 張 瑾 曹歡歡 電 話 :86-21- 51780360 傳 真 :86-21- 51780361 地 址 : 延安中路 1135 弄 5 號樓 312 室靜安花園商務樓 E-mail: shanghai@polyauction.com 現當代藝術部總經理 : 賈偉 E-mail: ddyh@polyauction.com 當代藝術部高級業務經理 : 李小雯聯繫電話 :(86-10) 64082192 經典藝術部高級業務經理 : 鮮彤聯繫電話 :(86-10) 64082431 業務助理 : 周彬芮聞真聯繫電話 :(86-10) 64082564 現當代藝術拓展項目部業務經理 : 李雅璐何文君楊帆李宇田恒聯繫電話 :(86-10) 64082367/2533 藝術與設計部業務經理 : 項吉業務助理 : 劉豐鳴聯繫電話 :(86-10) 64082191 E-mail: design@polyauction.com 中國近現代書畫部高級行政經理 : 郭玉行政經理 : 黃純純行政助理 : 王威聯繫方式 :(86-10) 64082437/2181 E-mail: guoyu@polyauction.com 總監 : 李思莫 E-mail: sh@polyauction.com 高級業務主管 : 罗戈弟高級業務經理 : 袁昉胡志明劉曉洋聯繫電話 :(86-10) 64082186 E-mail: luogedi@polyauction.com 高級業務主管 : 乔亞寧業務經理 : 章之昊聯繫電話 :(86-10) 64082691 E-mail: qiaoyaning@polyauction.com 業務經理 : 胡志明聯繫方式 :(86-10) 64082172 業務顧問 ( 當代水墨三十年專題 ): 王驍業務經理 ( 當代水墨三十年專題 ): 祁文郁聯繫方式 :(86-10) 64082691 副總經理 : 李雪松 lxs@polyauction.com 台灣代表處黃宏任婁仲元電話 :886-225224080 傳真 :886-225222595 地址 : 台北市中山區中山北路二段 39 巷 6 號 5 樓 ( 晶華酒店旁 ) E-mail: taiwan@polyaution.com 保利貴賓部總經理 : 李思莫 E-mail: vip@polyvip.com 高級業務經理 : 胡志明業務經理 : 陳安琪王浩業務助理 : 石穎聯繫電話 :(86-10) 64082172/2159 網址 :www.polyvip.com 中國古代書畫部業務總監 : 楊曦 E-mail: gdsh@polyauction.com 高級業務經理 : 王健霍文才業務經理 : 任星李修燕孟兆波學術顧問 : 劉金庫聯繫電話 :(86-10) 64082436/2435 中國當代水墨部. 紫砂及現代工藝品部 總經理 : 安 蓓 E-mail: ddsh@polyauction.com 高級業務經理 : 王建偉 陳 京 肖明芳 聯繫電話 :(86-10) 64082183 綜合文化部總經理 : 安蓓 E-mail: wxsg@polyauction.com 高級業務經理 : 陳京電話 :(86-10) 64082316 古籍文獻部總經理 : 孟楠 E-mail: gj@polyauction.com 業務經理 : 陳智萌聯繫電話 :(86-10) 64082197 中國書畫國內徵集聯繫業務聯繫 : 靳東方聯繫電話 :(86-10)64082186 E-mail: polyusa@polyauction.com 中國書畫國際徵集服務部海外客户上拍咨詢, 上拍進度查詢, 投訴及建議請您直接與我們聯繫 業務聯繫 : 靳東方聯繫電話 :(86-10) 64082186 E-mail: polyusa@polyauction.com 尊敬的貴賓, 委托拍賣藝術品首選北京保利 重要或大宗拍品委托, 保利藝術投資基金可提供資金支持, 方式靈活 重大業務洽談 :(86-10) 64082159 公司網址 :www.polypm.com.cn 行政總監 : 陳零初 xingzheng@polyauction.com 中國書畫季拍部 E-mail: sj@polyauction.com 負責人 : 罗漢松古代書畫季拍部業務經理 : 王高偉業務助理 : 虞昌書聯繫電話 :(86-10) 64082449 近現代書畫季拍部業務經理 : 李奪倫于振蘭孟超聯繫電話 :(86-10) 64082158 當代水墨季拍部高級業務經理 : 胡天璧聯繫電話 :(86-10) 64082179 名酒及資產拍賣部總經理 : 陳零初 E-mail: zc@polyauction.com 高級業務經理 : 藍晨業務助理 : 王春華柴詩軼聯繫電話 :(86-10) 64082185 科技古董部 E-mail: zc@polyauction.com 高級業務經理 : 藍晨業務助理 : 王春華柴詩軼聯繫電話 :(86-10) 64082125 珠寶鐘表尚品部總經理 : 王婷 E-mail:zb@polyauction.com 高級業務經理 : 唐利偉陳朣業務經理 : 周沫易曉郭晟業務助理 美編 : 李秋萌業務助理 : 任芝義業務助理 : 邢家赫行政秘書 : 馮成龍聯繫電話 :(86-10) 64082137/2432 庫管部總經理 : 祖世龍計算機及證書 : 劉琨攝像 : 霍健中國書畫 : 黃慧古董珍玩 : 牛吉剛范疇現當代中國藝術 : 徐程古籍文獻 : 郭蒙 法務總監 : 董振 fawu@polyauction.com 日本代表處風見治子吳駕晟電話 :81-3-6278-8011 傳真 :81-3-6278-8012 地址 : 東京都中央區銀座 2 丁目 12-4-601Duplex 銀座 2/12 1040061 Email: polyauction2005@gmail.com 財務總監 : 劉士彬 finance@polyauction.com 美國代表處紐約代表處 : 黃健電話 :1-212-273-0822 地址 : Bar Building, 36 West 44th Street, New York 洛杉磯代表處 : 黃正電話 :1-408-838-8819 E-mail: polyauction@yahoo.com polyusa@polyauction.com 舊金山代表處 : 王凱電話 :1-650-483-2166 E-mail:mrkwang@polyauction.com 加拿大常年徵集電話 :1-888-207-9395 郵品錢币 : 常芳明銅鏡 : 閻曉飛聯繫電話 :(86-10) 64082162 財務部財務總監 : 劉士彬 E-mail:finance@polyauction.com 財務部副主任 : 沈良軍 E-mail:adam618@163.com 帳務結算 : 宋秋紅 :(86-10) 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北京保利 2014 春季拍卖会拍品征集中 征集截止至 4 月 10 日, 希望得到您的支持! 预展时间 :5 月底预展地点 : 全国农业展览馆拍卖时间 :6 月初拍卖地点 : 北京四季酒店 扫描二维码添加北京保利拍卖官方微信平台敬请专注北京保利拍卖官网 :www.polypm.com.cn 中国近现代书画中国古董珍玩腕表及古董座钟名贵珠宝及翡翠 现当代中国艺术中国古代书画中国当代水墨古籍文献 With over 2,500 square feet, the spacious and sunlit Poly Gallery is planning extraordinary and significant exhibitions without geographical or cultural confines. From the new generation of Chinese artists to the ancient masters, all worthwhile masterpieces will be introduced to Hong Kong. Poly Gallery will host a variety of exhibitions and cultural events throughout the year, such as private auctions, previews and lectures, to encourage interactions between our team of specialists and clients. This will serve as a continuation of Poly Auction Hong Kong's business beyond the traditional biannual auctions. We believe this will also create an open art platform for art collectors to exchange cultural ideas and enjoy outstanding works of art year round. As the leading auction house in Mainland China, Poly Auction Hong Kong and Poly Gallery are proud to establish their permanent presence in Hong Kong. Together with our team, we are ready to lead you through a remarkable journey of art. 邮品酒类及科技古董紫砂及现代工艺品机制币 置地 2,500 多平方呎, 既寬敞又採光良好的保利藝術空間將充分利用這個場所擧辦各種優越 不分地域及文化界限的展覽 無論是新晉中國畫家或是古代藝術大師的作品, 這個藝術空間都會將它們一一在香港市場呈獻 保利藝術空間亦會舉行不同的展覽及藝文活動, 如私人拍賣, 預展和講座等, 以鼓勵及促進專家和客人之間的交流互動 除了每年的春秋二拍, 我們深信保利藝術空間會爲收藏家帶來一個全年四季都開放的藝術交流平台 為 作為中國內地首屈一指的拍賣行, 保利香港拍賣及保利藝術空間很高興能在香港穩建業務基地, 並期待與專家團隊帶給您煥然一新的藝術旅程 Poly Gallery 7/F., One Pacific Place, 88 Queensway, Hong Kong Monday - Friday 10:00am - 6:00pm +852 2303 9878 gallery@polyauction.com.hk (Close on Saturday and Sunday)

Running Brook 野湍 120 120cm Oil on canvas 布面油畫 2013 (Details 局部 Running Brook 野湍 120 120cm Oil on canvas 布面油畫 2013 (Details 局部) 䠇 ᴒ ઞ䶈䢻ಞኋ㿳 ARCHAIC GLORY - Exhibition of the Shang & Zhou Dynasty Bronze Wares ᴾ ᰛ April 4, 2014 - April 8, 2014 CC M M YY CM CM MY MY CY CY CMY CMY K K 1. 2. 循蹤喻懷 循蹤喻懷 洪凌個展 洪凌個展 φ ᰛᵢӂь㰅 ޣ δ ε㡀㰅 㗄 ༡ᗍθ ᒪ ᴾ ᰛθ㐞㲕 Provenance: 1. Collection of Zouroku II (1854-1932) 2. Christie s New York, Rockefeller Plaza, 19 September 2006, Lot 145 7/F, One Pacific Place, 88 Queensway, Hong Kong 俉 䠁䩈䚃 㲏ཚਔᔓ ᵏ +852 2303 9853 woa@polyauction.com.hk co-organized by co-organized by ASPIRATION ASPIRATION Hong HongLing LingSolo SoloExhibition Exhibition 15 15- -22 22May May2014 2014 Poly Gallery PolyOne Gallery 7/F., Pacific Place, 88 Queensway, Hong Kong 7/F., One Pacific Place, 88 Queensway, Hong Kong +852 2303 9878 +852 2303 9878 gallery@polyauction.com.hk gallery@polyauction.com.hk Monday - Friday 10:00am - 6:00pm Monday - Friday and 10:00am - 6:00pm (Close on Saturday Sunday) (Close on Saturday and Sunday)

保利香港 2014 年春季拍賣及預展 Poly Auction Hong Kong 2014 Spring Auctions & Previews 4 月 4-7 日 香港君悅酒店 4-7 April Grand Hyatt Hong Kong 中國古代書畫 中國近現代書畫 璀璨珠寶 中國及亞洲現當代藝術 珍貴鐘錶 豹變 東亞百年風雲遺藏 海會應真 佛教藝術專場 中國古董珍玩 中國當代水墨 [I] 中國當代經典水墨 太璞如琢 崔如琢精品專場 [II] 中國當代水墨 [II] 中國當代新水墨 中西名酒珍釀 Classical Chinese Paintings and Calligraphy Fine Modern Chinese Paintings and Calligraphy Important Jewels Chinese and Asian Modern & Contemporary Art Important Watches A Historical Collection of East Asian Politics and Arts in Early 20th Century The Grand Gathering of Enlightened Beings Chinese Ceramics & Works of Art Chinese Contemporary Ink Paintings (I) - Contemporary Chinese Classical Paintings Glossiness of Uncarved Jade - Special Auction of Cui Ruzhuo (II) Chinese Contemporary Ink Paintings (II) - New Chinese Ink Paintings Chinese and Western Wine 查詢 Enquieies : +852 2303 9899 sale@polyauction.com.hk www.polyauction.com.hk