ORIENTAL ART AUCTIONS B.V. - CONDITIONS OF SALE
Conditions of business Oriental Art Auctions
Applicable when buying movable property at auction
1 Applicability
1.1 The present Conditions of Sale are applicable to all parts of the relationship between the Oriental Art Auctions and the Buyer, which include a particular sale, purchase, intermediary services, appraisals, evaluations, estimates, cataloguing, and custody. The term 'Buyer' includes the 'Intending Buyer' who participates in the auction.
1.2 Any departure from the present Conditions of Sale is only possible if and insofar as expressly agreed in writing by Oriental Art Auctions.
1.3 Visitors to the auction shall be made aware of the applicability of these Conditions of Sale by means of publication available at the sale room in advance of the auction sale and/or by means of communication made prior to the sale. By participating in the auction sale each person acknowledges the applicability of the present Conditions of Sale and their complete acceptance thereof.
2. Duty to inform / duty to inspect
2.1 Catalogue descriptions and any written or oral information given by the Specialist are to the best of his/her knowledge.
2.2 Prior to the sale the Buyer should satisfy him/herself as to both the condition and the accuracy of the description of any item in the internet catalogue or on the lot list by personally examining said item thoroughly or by having said item inspected carefully and expertly in order to form his/her own opinion as to the degree of correspondence between the item and its description. The Buyer should, where reasonably necessary or desirable, seek the opinion of an independent expert, and should not rely on the illustrations in printed, online or digital transmitted form. In the event that a description makes reference to certain faults or imperfections, Buyers should note that it is an indication which is not intended to be exhaustive and that there may be other faults not expressly referred to from which no rights can be derived.
2.3 Oriental Art Auctions cannot be held liable for the accuracy of the description published or expressed by any other means with respect to materials such as, for instance, types of wood, fabrics, alloys, earthenware, porcelain, and diamonds, all the above with the exception of precious metals. The Specialist accepts liability in case of an erroneous description only insofar as set out in Clause 6 of the present Conditions of Sale.
3. Bidding
3.1 Buyers may bid in person. It is also possible for a bidder to submit a telephone bid or a written bid. Other methods of bidding, for example, electronic or over the Internet or by means of oral instructions, are only available when said services are expressly offered by Oriental Art Auctions.
3.2 Commission bids should be clear and unambiguous and in the opinion of Oriental Art Auctions must be received well in advance of the start of any auction session. In the event that Oriental Art Auctions shall receive several commission bids on a Lot for identical amounts and at auction said commission bids are the highest bids for that Lot, in the above event, the Lot in question shall be knocked down by Oriental Art Auctions to the person whose commission bid (for the relevant amount) was received first.
3.3 Commission bids shall only be executed in the event that Oriental Art Auctions can reasonably be expected to do so and Oriental Art Auctions has discretion at all times to decide not to bring out a commission bid.
3.4 In the event that a Buyer wishes to bid by telephone, said telephone bid must be confirmed in writing no later than one day prior to auction.
3.5 Oriental Art Auctions shall exclude any and all liability whatsoever in the event that for whatever reason a telephone bid is unsuccessful, similarly in the event that for whatever reason a commission bid, electronic bid or bid over the Internet is unsuccessful.
4. Formation of a purchase agreement
4.1 The purchase is concluded by way of definitive allocation. Definitive allocation occurs upon acceptance by Oriental Art Auctions of the Buyer's bid as the final bid and the knocking down of the Lot to the Buyer.
4.2 All Lots are sold 'AS IS', in the condition they are in at the fall of the hammer.
5. Buyer's obligations
5.1 The Buyer shall provide proof of identity upon Oriental Art Auctions' request.
5.2 Buyers are deemed to be bidding for their own account and are personally liable for their bids without being able to rely on a principal.
5.3 The rights and obligations by reason of the Purchase Agreement and the present Conditions of Sale accrue exclusively to the Buyer and cannot be transferred to a third party.
6. Auctioneer's liability to Buyer
6.1 Unless certain items in the catalogue or on the lot list are expressly excluded - without prejudice to Clauses 2 & 4.2 - the Specialist may be willing to set aside the sale of a Lot sold at auction and to refund an amount corresponding to the original Purchase Price and auction costs in the event that the Seller within a period of three weeks subsequent to the sale has established to the satisfaction of Oriental Art Auctions that the Lot sold at auction has such serious hidden faults or that the description given is shown to be so erroneous that, had the Buyer been aware of said faults or had there been an accurate description at the fall of the hammer, said Buyer would have decided not to proceed with the purchase or would have made the purchase only at a considerably lower price. The above is not applicable to faults that are in relation to the condition of the item (such as, for instance, normal wear and restoration).
6.2 Oriental Art Auctions may refuse to take back a Lot in the event that its description was retracted in advance of or during a sale and the public has been informed of the correct description by means of oral announcements or the posting of notices in the saleroom.
6.3 The Buyer also forfeits any willingness on the part of Oriental Art Auctions to set aside the sale upon failure to return the item sold at auction in the same condition that it was in at the fall of the hammer, the above at the discretion of Oriental Art Auctions.
7. The rights of the Specialist and Oriental Art Auctions
7.1 Oriental Art Auctions reserve the following rights:
a. to refuse at its discretion any person as a bidder or Buyer;
b. to change at all times the numerical order of Lots on sale;
c. for items to be withdrawn or added;
d. to combine or divide Lots
e. to withhold or delay the sale of Lots;
f. to rectify erroneous bids and allocations, or to cancel a purchase so that the Buyer is unable to benefit from any such mistake by invoking the formation of a Purchase agreement;
g. to claim upon allocation immediate payment in whole or in part; in case of refusal or inability to pay, Oriental Art Auctions is authorized to cancel the Purchase agreement and subsequently resell the particular Lot and to reject at any future auction any bids made by the defaulting bidder;
h. to set aside the Purchase agreement and to resell the item in the event that the Buyer refuses upon request to supply Oriental Art Auctions with his/her full name and address by presenting valid proof of identity;
i. not to transfer items from the account of the original Buyer to that of a third party;
j. not to release items in the course of an auction;
k. to execute bids for and on behalf of a Buyer or a Seller;
l. to resell at auction any Lot that was subject to a dispute during or shortly after a sale, and to set aside any Purchase agreement pertaining thereto.
m. to request a deposit from registered bidders prior to the sale
8. Payment/ transfer of title
8.1 Payment by the Buyer to Oriental Art Auctions, of the Purchase Price in Euros plus auction costs, other charges and VAT, if due, all of which to be determined by Oriental Art Auctions, must occur prior to the release of the purchased items within 7 days after the Sale or within the time limit to be determined by Oriental Art Auctions, whereby no discount or set-off is permissible.
8.2 Invocation of the so-called margin scheme can only be made in the event that prior to the sale all the necessary conditions have been met, including inter alia the declaration of purchase for VAT purposes (inkoopverklaring); the above at the absolute sole discretion of Oriental Art Auctions.
8.3 Title to the property in a Lot shall not pass to the Buyer until full payment of the Purchase Price has been made and in case of overdue payment, not until payment of the Purchase Price including the costs/charges mentioned in Clause 9 has been made in full.
9. Overdue payment
9.1 In case of non-payment Oriental Art Auctions may charge the Buyer interest at a rate equal to that of the statutory interest plus 3%, to be calculated with effect from the date upon which the term for payment expired. All judicial and extrajudicial costs shall be borne by the defaulting Buyer, which costs shall be estimated either at 15% of the Purchase Price plus auction costs or at a minimum of € 250 (two hundred and fifty Euro), without prejudice to the right to recover any costs actually incurred.
9.2 In the event that the Buyer exceeds the term for payment as a consequence of which Buyer is in default by operation of law, Oriental Art Auctions is authorized to give written notice of the setting aside of the Purchase agreement.
10. Collection
10.1 The Buyer is obliged to take delivery of and to remove the items purchased or to make arrangements for the above within the period indicated by Oriental Art Auctions. Except for the right of Oriental Art Auctions to indicate a shorter or longer term, items must be collected within five working days from the date of the last auction sale.
10.2 Failure on the part of the Buyer to take delivery of the property purchased and to collect or arrange collection thereof within the stipulated time period, means that the Buyer is by operation of law in default and the provisions set out in Clause 9 shall apply mutatis mutandi. Oriental Art Auctions is also entitled at the risk and expense of the Buyer to place the property purchased in storage, as a consequence of which all transport costs and any risk inherent therein is likewise for the account of the Buyer.
11. Unsold lots
11.1 In the event that a Lot remains unsold at auction, Oriental Art Auctions is authorized but not obliged to reoffer the Lot for sale during a period of ten days following the auction, unless otherwise agreed to by the Consignor.
11.2 Oriental Art Auctions shall hold any such post-auction sale ("after sale") only if the sale can be effected at a price equivalent at least to the amount of the net proceeds of sale to which the Seller would have been entitled if the Lot had been sold for the reserve set at auction, unless other arrangements have been agreed to by the Seller.
11.3 Any purchase by a Buyer within the meaning of the present Clause shall incorporate these Conditions of Sale as if sold in the auction and shall be equally binding.
12. Liability of Oriental Art Auctions
12.1 Oriental Art Auctions accept no liability for any damage to frames of paintings or other works of art nor to any parts thereof such as glass coverings, passe-partouts etc., except in case of damage caused wilfully or by gross negligence on the part of Oriental Art Auctions and/or its employees or representatives.
12.2 In no event shall Oriental Art Auctions be liable for any damage/ loss caused by interruption to business, consequential damage/ loss, damage/ loss of property and/or indirect damage/ loss.
12.3 Oriental Art Auctions cannot be held liable for any accident or any form of personal injury suffered on or in the vicinity of the premises or surrounding areas in use for consignment, storing or viewing, for holding auctions or in use for picking up the goods sold, except in case of damage caused wilfully or by gross negligence on the part of Oriental Art Auctions and/or its employees or representatives and/or except insofar as such accident/personal injury is covered by the insurance of Oriental Art Auctions.
12.4 Entering the premises or surrounding areas is entirely at your own risk.
13. Photographs and illustrations
13.1 Oriental Art Auctions is authorized to make photographs, illustrations, or any other visual representations of all the items offered for sale and to use the above in any way whatsoever, prior to, during or following the auction sale, and shall observe any statutory regulations applicable. Oriental Art Auctions shall retain the copyright in all such visual representations for use at its discretion.
14. Miscellaneous
14.1 Nullification, annulment or the nonbindingness of one the provisions set out in the present General Conditions of Sale shall not affect the validity of the remaining provisions. In the event that one or more provisions is null and void, annulled or nonbinding, Buyer and Specialist and /or Oriental Art Auctions shall agree one or more provisions to replace the above which are valid and which correspond as far as possible in content and purport to the provisions that are null and void, annulled or nonbinding.
14.2 The present Conditions of Sale are governed exclusively by the Laws of the Netherlands.
14.3 All disputes pertaining to, arising from or in connection with any Purchase agreement concluded between Oriental Art Auctions and the Buyer, the formation of a Purchase agreement, or the present Conditions of Sale, shall be submitted to the exclusive jurisdiction of the competent court in Zwolle, except for the right of Oriental Art Auctions to choose to have the dispute adjudicated by the court that has jurisdiction by law.
TERMS & CONDITIONS OF CONSIGNMENT - THE CONSIGNMENT OF GOODS BETWEEN CONSIGNOR AND ORIENTAL ART AUCTIONS
The present document comprises the Terms & Conditions of Consignment between you and Oriental Art Auctions and is applicable to the present and to each subsequent consignment terminating upon expiry at the end of the calendar year or upon the issue of a new version made available to you. Please read this document carefully, in view of the fact that rights and obligations arise as a result of this Agreement.
1. Applicability
1.1 The present Agreement containing the General Terms & Conditions of Business is applicable to all parts of the relationship between Oriental Art Auctions B.V., hereinafter referred to as 'Oriental Art Auctions" and the Consignor/Seller, hereinafter referred to as "the Consignor", which include a particular purchase, sale, intermediary services, appraisals, evaluations,
estimates, cataloguing, and custody, unless expressly agreed otherwise.
1.2 Any departure from the present General Conditions ls only possible if and insofar as expressly agreed in writing by Oriental Art Auctions.
2. Commission contract
2.1 The Consignor hereby instructs Oriental Art Auctions to examine, appraise and sell at auction the movable property brought in by Consignor and taken delivery of by a representative of Oriental Art Auctions (hereinafter also referred to as: ‘the Items').
2.2 Oriental Art Auctions are hereby authorized by the Consignor to sell the Items via Oriental Art Auctions under the auction conditions to be set by Oriental Art Auctions, irrespective of whether said authorisation regards all or, alternatively merely a few pieces. Consignor and Oriental Art Auctions may mutually agree upon setting a minimum price (reserve) for each consigned Item.
2.3 Taking delivery of Items, however, does not obligate Oriental Art Auctions to sell or to offer said items for sale at auction. ln the event that Oriental Art Auctions is not willing to enter the Items into auction, the Consignor will be informed by Oriental Art Auctions within four weeks subsequent to any such decision.
3. Rights and obligations on the part of the Consignor
3.1 The Consignor shall provide proof of identity at the request of Oriental Art Auctions.
3.2 The Consignor warrants that in his/her capacity as true owner or by means of proper authorisation he is authorised to offer the Items for sale at auction and hereby indemnifies and holds Oriental Art Auctions harmless against any and all claims from a third party in relation thereto.
3.3 The Consignor at the request of Oriental Art Auctions is obliged to provide Oriental Art Auctions with information on and substantiated proof of provenance and origin of the Items. The Consignor is liable for any loss/damage in case of information which is inaccurate or misleading and/or in case of any other circumstances attributable to the Consignor and hereby indemnifies and holds Oriental Art Auctions harmless against any and all claims from a third party in relation thereto.
3.4 The Consignor duly declares that sale at auction of the Items is not obstructed by any national or international statutory provisions.
3.5 The Consignor is not allowed to bid on any Items brought in by him unless otherwise agreed in writing with Oriental Art Auctions.
3.6 The rights and obligations by virtue of the present General Terms and Conditions belong exclusively to the Consignor and cannot be transferred by Consignor to a third party.
4. The rights of Oriental Art Auctions
4.1 The inclusion of Items in an auction sale or the exclusion thereof, similarly any (oral) announcement in respect of an Item in the Sale Catalogue or in a brochure, is at the sole discretion of the Oriental Art Auctions, who reserve the right to consult or rely on any expert without accepting any responsibility in connection therewith.
4.2 Oriental Art Auctions reserve the right to determine in which of their sales an Item shall be put up for auction.
4.3 In the event that Oriental Art Auctions are instructed to clear the complete contents of a dwelling or warehouse, they reserve the right to exclude Items from said clearance and also to remove or dispose of any such Items which in their opinion are not suitable for auction or if possible, to convert said Items into cash by other means.
4.4 Consignor duly declares that Oriental Art Auctions are authorized to photograph, illustrate or otherwise make visual representations of all the Items offered for sale and to copy or
cause said Items to be copied in any way whatsoever, both prior and subsequent to the sale, and shall observe any statutory regulations applicable thereto. Oriental Art Auctions retain the copyright in all such visual representations for use at their discretion.
5. Withdrawal on the part of Consignor
5.1 Once an Item has been entered into an auction, it can only be withdrawn by the Consignor following payment of 30% of the agreed reserve, or of a lesser amount if in the opinion of Oriental Art Auctions this is reasonable, or in the absence of a reserve price, payment of 30% or of a lesser amount of the expected proceeds at auction as estimated by Oriental Art Auctions plus all incurred costs, if any.
5.2 In the event that the Consignor is not satisfied with the estimate as set out in 5.1, he/she can request a re/estimation at his/her own expense, to be performed by three experts who are approved Registered Brokers/ or Registered Broker-Assessors and whose area of specialisation is that of the Item or alternatively, to be performed by certified appraisers or brokers, one of whom to be appointed by Oriental Art Auctions, one of whom by the Consignor, and the third to be nominated jointly by the two already appointed. Should the re-estimation result in a different value, said different value shall be binding upon Oriental Art Auctions and applicable to the Consignor in accordance with the applicability of the present Clause.
6. Commission
In case of sale of the Items at auction, the commission payable to Oriental Art Auctions amounts to a percentage of the price achieved at the sale agreed prior to the sale.
7. Obligation to take back on the part of Oriental Art Auctions
7.1 The Consignor acknowledges that he/she is familiar and agrees with the General Conditions of Oriental Art Auctions, applicable to Oriental Art Auctions and Buyer in respect of a purchase at auction of movable property, of his willingness to do the following:
'Unless certain items in the catalogue are expressly excluded - except for a number of cases mentioned in the General Conditions of Sale applicable to the purchase of movable property
at auction - Oriental Art Auctions may be willing to set aside the sale of a Lot at auction and to refund an amount corresponding to the original Purchase Price and auction costs, in the event that the Seller within a period of three weeks subsequent to the sale has established to the satisfaction of Oriental Art Auctions that the Lot sold at auction has such serious hidden faults or that the description given is shown to be so erroneous, that had the Buyer been aware of said faults or had there been an accurate description at the fall of the hammer, said Buyer would have decided not to proceed with the purchase or would have made the purchase only at a considerably lower price:.
7.2 The Consignor shall grant Oriental Art Auctions an irrevocable authorisation to set aside the sale in consideration for a refund of the Purchase Price and auctions costs. Oriental Art Auctions has sole discretion to determine whether the circumstances are applicable in any such case. By reason of the setting aside of the sale, the Item is considered to be unsold within the meaning of Clause 11 of the present contractual Terms & Conditions
8. Payment to Consignor
8.1 Oriental Art Auctions shall in the name of Oriental Art Auctions ensure payment to the Consignor of the proceeds from the sale less all fees and charges to be borne by the Consignor, such as transport costs, restoration costs, commission fees, vetting costs, insurance premiums, if applicable, and any other costs agreed in advance as well as VAT [BTW]. hereinafter referred to as: •[the] Compensation', providing that Oriental Art Auctions has received from the Buyer the full Purchase Price, and providing that the Buyer has not asserted the obligation on the part of Oriental Art Auctions to set aside the sale within the meaning of Clause 7 of the present Agreement, which assertion is acknowledged by the auctioneer and provided that no cancellation of the sale has occurred within the meaning of Clause 9 of the present contractual Terms & Conditions.
8.2 Payment of The Compensation ls normally is effected within 30 days following a sale. unless a written notice as set out in Clause 7 of the present Conditions is received from the Buyer, or a setting aside of the sale within the meaning of Clause 9 of the present Agreement has occurred.
8.3 Invocation of the so-called margin scheme can only be made in the event that prior to the sale all the necessary conditions have been met, including inter alia the declaration of purchase for VAT purposes (inkoopverklaring): the above at the absolute discretion of Oriental Art Auctions.
9. Consequences cancellation by Buyer
In the case of "a setting aside' as set out in Clause 7 of the present Terms & Conditions, or a cancellation of the Purchase agreement with the Buyer for any other reason, then Oriental Art Auctions reserves the right to claim back any Compensation already paid to the Consignor as well as any other loss/damage and costs incurred by Oriental Art Auctions as a consequence of said setting aside, including interest charges and judicial and extrajudicial costs.
10. Consequences of setting aside by Oriental Art Auctions
10.1 The Consignor is familiar with the fact that Oriental Art Auctions, in the Conditions of Sale (being the General Terms & Conditions of Oriental Art Auctions and the Buyer in respect of a purchase at auction of movable property), reserves the right to set aside the Purchase agreement in the event that the Buyer shall exceed the term for payment.
10.2 The Consignor expressly acknowledges and agrees that Oriental Art Auctions have the right to recover any loss/damage and costs against the Buyer in case of the occurrence of a situation as set out in 10.1. Also the Consignor expressly acknowledges and agrees that Oriental Art Auctions have the right to claim specific performance when the Buyer has failed to comply with the period for payment, or alternatively, to proceed to set aside the sale, or alternatively, first to file a claim against the Buyer for specific performance which if unsuccessful, then to take steps to set aside the sale: the above at the discretion of Oriental Art Auctions.
11. Unsold items
11.1 Oriental Art Auctions are irrevocably authorized but never obligated to offer Items for sale at a later auction, hereinafter referred to as: “to resell", or alternatively, to sell said Items within a period of ten days after a particular auction. Any such post-auction sale (“aftersale”) can only take place at a price that is at least the equivalent of the Purchase price less all costs to be borne by the Consignor to which the Consignor would have been entitled if the Item had sold for the reserve set at auction.
11.2 In the event of such an aftersale, the rights and obligations of the Consignor and Oriental Art Auctions by virtue of the present Agreement shall be equally binding and apply in full as if the Item had been sold at the particular auction.
11.3 Accordingly, the provisions set out in the present Agreement shall apply in full to any such resale or aftersale.
12. Transport/storage insurance Items
12.1 All packaging materials in respect of the Items consigned to the auction sale may be removed or disposed of by Oriental Art Auctions unless expressly agreed otherwise by Oriental Art Auctions and the Consignor.
12.2 All the Items consigned to Oriental Art Auctions are insured for the value stated on the receipt, or alternatively for an appropriate value determined at the sole discretion of Oriental Art Auctions. against fire. theft, loss and damage provided that said Items are kept in the offices of Oriental Art Auctions or in other storage facilities chosen by Oriental Art Auctions. The Consignor is entitled to claim a receipt for the Items consigned to Oriental Art Auctions, which receipt indicates the value represented by the Items at the moment of consignment according to a preliminary estimate given by Oriental Art Auctions.
12.3 Oriental Art Auctions reserves the right to take measures for storing with a third party Items sent or brought to auction, and to charge the Consignor for any such costs in relation thereto.
12.4 Items which have been sent or brought in to Oriental Art Auctions and which have not been accepted for auction and which are not stored for [temporary] safekeeping, shall at the risk and expense of the Sender be returned to the Sender wholly at his own cost.
13. Liability of Oriental Art Auctions
13.1 Oriental Art Auctions accept no liability whatsoever for any damage to frames of paintings, or other works of ort, nor to any parts thereof such as glass coverings, passe-partouts, etc, except in case of damage caused wilfully or by gross negligence on the part of Oriental Art Auctions and/or his/her employees or representatives.
13.2 In no event shall Oriental Art Auctions be liable for any damage/loss caused by interruption to business, consequential damage/loss, damage/loss of property and/or indirect damage.
13.3 Furthermore, Oriental Art Auctions cannot be held liable for any accident or any form of personal injury suffered on or in the vicinity of the premises or surrounding areas in use for consignment, storing or viewing, for holding auctions or in use for picking up the goods sold, except in case of damage caused wilfully or by gross negligence on the part of Oriental Art Auctions and/or his/her employees or representatives and/or except insofar as such accident/personal injury is covered by the insurance of Oriental Art Auctions.
13.4 Entering the premises or surrounding areas is entirely at your own risk.
14, Other rights and obligations on the part of the Consignor/natural person (not acting in the course of his/her trade/profession)/long distance services
14.1 In the event that an agreement is entered into between Oriental Art Auctions and the Consignor/natural person who is not acting in the course of his/her trade or profession, under which, up to and including the conclusion of the Agreement, use can only be made of one or more techniques for long-distance communication within the context of the auction system for long distance services maintained by Oriental Art Auctions. in case of the above, the following shall apply.
14.2 During the duration of 7 working days to be calculated from the day upon which the Agreement is concluded, the Consignor/natural person is entitled to cancel the Agreement free of charge and without giving reasons. Under certain circumstances the period can be extended to three months subsequent to the conclusion of the agreement. Any such termination must occur in writing (per e-mail or written letter).
14.3 The Consignor/natural person cannot assert the abovementioned right. in the event that with his/her consent Oriental Art Auctions has commenced performance of the Agreement prior to the expiry of the term mentioned above.
14.4 In deviation from the provisions set out in Article 7:46101 the Dutch Civil Code pertaining to an occurrence of default, the statutory provisions set out in Articles 6:81-83 01 the Dutch Civil Code shall apply instead.
15. Miscellaneous
15.1 Nullification, annulment or the non-bindingness of one of the provisions set out in the present Agreement containing General Conditions 01 Business shall not affect the validity of the remaining provisions. In the event that one or more provisions is null and void, annulled or nonbinding, Consigner and Oriental Art Auctions shall agree one or more provisions to replace the above which are valid and which correspond as far as possible in content and purport to the provisions that are null and void, annulled or nonbinding.
15.2 Objects which, even without prior knowledge of the owner, are deemed to be cultural heritage, and objects which are made with materials which do not have the necessary CITES certificate, (Ivory, Coral, Rhinoceros horn etc.) are excluded from our Auctions. This also counts for objects which may be considered plundered artworks by the authorities. Possible confiscations and legal consequences are the sole responsibility and expense of the consignor.
15.3 The present Conditions of Business are governed exclusively by the Laws of the Netherlands.
15.4 All disputes pertaining to, arising from or in connection with any agreement entered into between Oriental Art Auctions and the Consignor or in connection with the formation of any such agreement shall be submitted to the exclusive jurisdiction of the competent court in Zwolle, except for the right of Oriental Art Auctions to choose to have the dispute adjudicated by the competent court located in the district of the Consignor.