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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 Contemporary Chinese Painting for China Guardian’s 2014 Spring Auctions:

1. Lot1769 Zhu Xinjian, FIGURE, estimate price should be RMB: 120,000-150,000.

2. Lot 1794 Zhou Sicong, GIRL READING, the size should be 67.5×45cm, about 2.7 square feet.

3. Lot 1802 Tang Yongli, POLO OF TANG DYNASTY, estimate price should be RMB: 1,300,000-1,500,000.

4. Lot 1807 Zheng Baizhong, MOON ABOVE SPRING RIVER, about the note of this lot, please refer to Chinese text.

5. Lot 1812 Zhang Ding, STREAM IN SPRING MOUNTAIN，has been withdrawn.

6. Lot 1822 Han Meilin, CHASING WIND, has been withdrawn.

7. Lot 1836 Xu Lele DRUNK LIU LING, the publication has been removed.

8. ot 1832 Fan Yang, AUTUMN MOUNTAIN, estimate price should be RMB: 300,000-400,000.

9. Lot 1867 Xu Lele, CHILDREN PLAY, estimate price should be RMB:100,000-150,000.

2014.05.20