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For clients who wish to bid on Chinese Painting and Calligraphy, are required to deposit RMB ONE MILLION (RMB1,000,000) and obtain a shape paddle. The shape paddle is also valid for bidding on auction lots of other categories, except stamps, coins, banknotes items. For clients who wish to bid on Wine items, are required to deposit RMB ONE HUNDRED THOUSAND (RMB 100,000) and obtain a special bidding paddle. The special paddle is only valid for bidding on Wine items.

In the payment of any purchase made by the Buyer during the China Guardian 2014 Spring Auction, before and up to and including the 4th of June 2014, the commission of the Buyer will be charged 13.5% of the Hammer Price, and from the 5th of June and up to and including the 19th of June, the commission of the Buyer will be charged 14% of the Hammer Price. This preferential policy will terminate on the 20th June. Any deduction between the Buyer’s payment and the Seller’s payment shall not apply to this preferential policy. The Buyer may not collect the Lot without full payment.

Please note the following information regarding the sale of Modern Chinese Painting and Calligraphy for China Guardian’s 2014Spring Auctions:

1. Lot 1456 Guan Liang, PICK JADE BRACELET, for more details, please refer to Chinese text.

2. The publication of Lot 1476 Huang Binhong’s CONVERSATION IN MOUNTAIN, please refer to Chinese text.

3. Lot 1478 Huang Binhong, AUTUMN MOUNTAIN, for more details, please refer to Chinese text.

4. Lot 1493 Zhang Daqian, RETURN FROM FISHING, An Exhibition of Chinese Painting by Chang Dai-chien, Mercury Room, 18th Floor, Apollo Hotel Singapore, Presented by Arts Gallery of Calligraphy and Painting, 10th to 13th Jan., 1984. An Exhibition of Chinese Painting by Chang Dai-chien, Mercury Room, 18th Floor, Apollo Hotel Singapore, Presented by Arts Gallery of Calligraphy and Painting, 10th to 13th Jan., 1984.

5. Lot 1501 Zhang Daqian, PLUM AND BAMBOO, for more details, please refer to Chinese text.

6. Lot 1581 He Haixia, GREEN MOUNTAIN, has been withdrawn.

2014.05.19