Published · V3.1 · Effective date 2026-11-01

TOISHINSEI Auction Terms & Conditions

Contractual seller: TOISHINSEI Co., Ltd.（东易新世株式会社）

Important notice

Before bidding, please carefully read these terms, the special conditions of the sale, lot descriptions, photographs and fee information.

These terms apply to auction transactions in which TOISHINSEI Co., Ltd. is the contractual seller.

Participation through ATG, LiveAuctioneers or other third-party bidding platforms is also subject to the applicable bidding rules of that platform.

These terms are in principle interpreted and enforced under Japanese law, without excluding consumer rights that cannot be restricted under applicable law.

Article 1 | Sale AS IS / AS SHOWN

1. All lots are in principle sold in their existing actual condition and as displayed: AS IS and AS SHOWN.
2. The company guarantees that the item delivered will be the actual lot sold corresponding to the auction catalogue and original images.
3. Antiques, art, jewellery, watches and pre-owned luxury goods may show signs of age, wear, restoration, alterations or other natural characteristics.
4. Unless the company expressly gives a written guarantee or applicable law provides otherwise, the company gives no general or absolute guarantee as to authenticity, authorship, attribution, brand, provenance, date of manufacture, condition or future market value. Descriptions may constitute professional opinions or estimates based on available information.
5. Buyers should carefully review the lot description and images before bidding and may enquire about important matters.
6. Sale-as-is provisions do not relieve the company of liability for fraud, deliberate concealment, material misdescription or other conduct for which liability cannot be excluded under applicable law.

Article 2 | Final sales, cancellation and refunds

1. Valid bids and sale results are in principle binding.
2. Unless the law, an express written guarantee or legally effective special sale conditions require otherwise, the company does not in principle accept cancellations or refunds for the following reasons:

• A change of mind after the sale;
• A different assessment of artistic value or personal aesthetics;
• Dissatisfaction with a condition already disclosed;
• Failure to carefully read the lot information provided;
• A change in market price or no longer wishing to retain the lot.

3. Academic authentication of antiques and art may involve differing views. A buyer may not demand cancellation of a valid transaction or a refund solely on the basis of a personal authentication opinion or differences between experts’ conclusions.
4. Where there is fraud, material misdescription, breach of an express written guarantee or another legal ground for a remedy, the company will deal with the matter under applicable law.
5. The company respects any consumer withdrawal, cancellation or refund rights that apply by mandatory law.

Article 3 | Lot descriptions, images and condition

1. Catalogue text, dimensions, images, estimates and professional opinions are prepared in good faith using information reasonably available at the time of cataloguing.
2. Antiques, art and pre-owned items may exhibit natural ageing, restoration, wear, material variations or other inherent characteristics.
3. The omission of a defect from a description does not of itself mean that the defect is absent.
4. Photographic lighting, equipment and display settings may cause reasonable differences in colour and appearance.
5. Buyers should review images, written descriptions and any available condition information before bidding.
6. Opinions on age, material, authorship, techniques and attribution are professional judgments rather than absolute promises unless expressly constituting a written guarantee.
7. The company may not use a general disclaimer to exclude legally required liability for material misdescription, fraud or other statutory liability.

Article 4 | Payment methods and deadlines

Unless legally effective special conditions of a sale provide otherwise:

A. Payment methods

1. TOISHINSEI does not in principle accept credit card payments directly.
2. Transactions with a total amount due of US$1,000 or less, including exactly US$1,000, may be paid by PayPal, subject to the company’s formal payment notice and service availability.
3. Transactions with a total amount due exceeding US$1,000 are in principle payable by bank wire transfer (T/T).
4. Where settlement is in another currency, the basis for converting the US-dollar threshold must be made clear before payment.

B. Amounts payable

The buyer must pay the hammer price, buyer’s premium, applicable taxes, packing and shipping costs, agreed insurance costs and other relevant charges that are legally effective and disclosed in advance as required.

C. Payment and dispatch

1. The buyer must pay within the period specified in the formal sale confirmation or invoice.
2. Dispatch is arranged after all funds have cleared and necessary compliance checks have been completed.
3. Remittance, currency conversion and similar costs validly agreed to be borne by the buyer are payable by the buyer.
4. Buyers should pay only into a receiving account formally confirmed by the company.
5. Where a third-party bidding platform independently processes payment, its legally effective and disclosed payment rules apply.

Article 5 | Consumption tax, import taxes and customs charges

1. Buyers bear consumption tax, import taxes, customs duties, clearance costs and related taxes and charges that are legally applicable and allocated to the buyer under valid conditions of sale.
2. Consumption tax on taxable domestic transactions in Japan is charged under Japanese tax law.
3. Transactions meeting Japan’s export exemption requirements receive the exemption according to law; Japanese consumption tax that should be exempt is not additionally charged.
4. Import taxes, customs duties and clearance costs legally arising at the international shipping destination and allocated to the buyer are in principle borne by the buyer.
5. Buyers applying for an exemption should provide valid supporting documentation as required.
6. The company’s statutory tax, reporting and export obligations are not transferred to the buyer by this article.

Article 6 | Regulated materials and international trade restrictions

1. Some lots may contain ivory, coral, tortoiseshell, rare woods or other protected or regulated materials.
2. Transactions may be restricted by Japanese law, CITES and the destination country’s import and export rules.
3. Buyers should check restrictions on import, possession and transport at the destination before bidding.
4. The company is responsible for export permits and compliance obligations legally belonging to the seller; buyers are responsible for import permits and related obligations legally belonging to them.
5. The company may lawfully suspend shipping arrangements for lots that cannot legally be exported, imported or transported.
6. If a transaction cannot lawfully be completed, the parties will determine cancellation, refunds or other handling in light of the specific reasons, contractual conditions and applicable law.
7. This article does not exclude mandatory remedies under applicable law.

Article 7 | Packing, shipping, insurance and risk

1. Packing, shipping and insurance costs validly agreed by law are in principle borne by the buyer.
2. The company discloses shipping charges or their calculation method in advance as required by applicable law.
3. Dispatch is arranged after full payment has cleared and necessary compliance checks have been completed.
4. Buyers must provide accurate delivery details and cooperate with customs clearance.
5. The time at which shipping risk transfers is determined by the nature of the transaction, carrier arrangements and applicable law.
6. For transactions subject to mandatory consumer protection rules, risk transfer must not contravene those rules.
7. In the event of loss or damage in transit, the parties should cooperate in providing evidence and deal with the matter under the law and valid contractual arrangements.

Article 8 | Rights reserved by the company

Where there are reasonable grounds and the law permits, TOISHINSEI may:

1. Withdraw a lot before sale.
2. Correct material errors in the catalogue.
3. Suspend bidding because of a serious technical failure or lawfully correct affected transactions.
4. Take necessary measures against suspected fraud, unlawful acts or serious breaches of auction rules.
5. Lawfully suspend or cancel transactions involving material lot-identification, quality-control or transaction-compliance issues.
6. Impose reasonable bidding restrictions on bidders committing serious breaches.

The company must exercise these rights reasonably and in good faith.

If the company lawfully cancels a transaction for which payment has been received, it must provide refunds or other necessary remedies under applicable law and valid contractual terms and may not arbitrarily exclude statutory liability.

Article 9 | Bidding confirmation, applicable rules and Japanese law

1. Bidders should read these terms, special sale conditions and fee information before bidding.
2. Submission of a valid bid means acceptance of the relevant transaction conditions to the extent lawfully applicable.
3. Bidders using ATG, LiveAuctioneers or similar platforms must also observe the platform’s applicable bidding and technical rules.
4. TOISHINSEI Co., Ltd. is the contractual seller for transactions covered by these terms.
5. Auction information displayed on LiveAuction.jp by other independent auction houses does not automatically make their transactions TOISHINSEI sales contracts.
6. These terms and the related auction sale contracts are in principle governed by and interpreted under Japanese law.
7. This article does not exclude protection available to international consumers under applicable mandatory law.
8. Disputes should first be addressed through good-faith consultation; if unresolved, they may be referred to a competent court or an appropriate dispute-resolution procedure according to law.

Article 10 | After-sales service, claims and returns

10.1 General principles

1. All lots are in principle sold as is.
2. Buyers should review the catalogue, images, descriptions and available condition reports before bidding.
3. Unless applicable law, an express written guarantee or a valid special agreement requires otherwise, cancellations and refunds solely due to a change of mind, personal aesthetics or differences in subjective authentication opinions are not in principle accepted.
4. This article does not exclude statutory liability for fraud, material misdescription, non-conforming delivery or other liability the company must bear under law.

10.2 Notice of claims

1. A buyer who considers that a purchased lot involves a material discrepancy in its description or a substantive attribution error supported by objective evidence should notify the company promptly in writing.
2. To facilitate investigation, the company requests an initial notification, where possible, within seven (7) calendar days of receipt of the lot.
3. This seven-day period is only a suggested notification period for administrative handling and preservation of evidence; it does not shorten statutory periods for claims, withdrawal or other mandatory remedies.
4. The age, authorship, school, provenance and attribution of antiques, art and collectibles may be subject to different academic views or professional authentication opinions. Unless the company expressly provides a written guarantee, there is a material misrepresentation or applicable law provides otherwise, a buyer may not demand cancellation, return or refund solely on the basis of a personal authentication opinion, subjective judgment or differences of opinion between experts.

10.3 Material description disputes and expert evidence

1. Buyers should clearly identify the disputed matters and, where possible, provide photographs, catalogue records and other relevant evidence.
2. For issues requiring professional judgment, the company may reasonably request a written opinion from a suitably qualified independent expert or professional body.
3. The opinion should identify the lot concerned as clearly as possible and explain the objective grounds supporting its conclusions.
4. The company may request supplementary information or further independent assessment to the extent reasonably necessary.
5. Expert reports are important reference material for claim review, but must not be made a condition that prevents buyers exercising statutory rights where the law does not allow this.

10.4 Condition, natural ageing and restoration

1. Normal wear, natural ageing, disclosed restoration, natural material characteristics and reasonably visible minor imperfections of antiques, art and pre-owned collectibles do not in principle constitute sufficient grounds on their own to cancel a transaction.
2. Material undisclosed defects, material misdescription and statutory liability must be addressed in light of the lot information, transaction facts and applicable law.

10.5 Shipping damage

1. Buyers should contact the company promptly upon discovering shipping damage.
2. Please retain packaging, shipping labels, photographs of damage and supporting evidence where possible.
3. The company, buyer and relevant carrier or insurer should cooperate in the investigation.
4. Shipping liability and remedies are determined under Article 7, legally effective transaction agreements and applicable law.

10.6 Claim review and resolution

1. The company will review claims in good faith after obtaining reasonably necessary information.
2. Depending on the facts and applicable law, appropriate measures may include explanation, correction, a mutually agreed settlement, return, refund or other remedies.
3. For returns that must legally be accepted, the company will provide appropriate instructions for packing, transport and related procedures.
4. This article does not restrict remedies that buyers enjoy under law and that cannot be excluded by contract.

Final legal statement

Japanese law is the basic governing law of these terms.

No provision excludes or restricts consumer rights, liability for fraud or serious unlawful conduct, or other mandatory statutory obligations that applicable law does not permit to be waived.

If these terms conflict with applicable mandatory law, that law prevails.

TOISHINSEI Co., Ltd.（东易新世株式会社）