Girard Perregaux Stainless Steel Oval Pocket Watch

GENERAL CONDITIONS OF BUSINESS

1.1 LBJ Auctions acts as the agent of the Seller in relation to the sale of a Lot and
is not responsible for any default by the Seller or the Buyer.

2.1 LBJ Auctions has absolute discretion to refuse any bid, to divide any Lot, to
combine two or more Lots, to withdraw any Lot from Sale and, if there is a
dispute or the Auctioneer or LBJ Auctions is of the opinion that there has been a
misunderstanding or mistake regarding a Sale or a Lot the subject of a Sale, to
rescind the Sale and put any Lot up for a Second Auction.

2.2 If a Sale is rescinded, LBJ Auctions may:
(a) put the Lot up for a Second Auction at a subsequent Sale; or
(b) offer the Lot for sale by private treaty; or
(c) withdraw the Lot from sale.

3.1 LBJ Auctions shall be under no liability for any injury, damage or loss
sustained by any person while on the premises or any Sale premises or where a
Lot, or a part of a Lot, may be on view from time to time.

4.1 Buyers need to satisfy themselves that all Lots are sold on an 'as is' basis
and it is the responsibility of all prospective Buyers to examine a Lot prior to the
Sale and to satisfy themselves as to the condition of the Lot and that the Lot
matches any written or oral description provided by the Seller or LBJ Auctions.

4.2 All descriptions provided by the Seller or LBJ Auctions are subject to any
statements made by the Auctioneer from the rostrum prior to any bid being
accepted for the Lot and any illustrations in the Catalogue are solely for the
guidance of prospective Buyers and should not be relied upon in terms of tone or
colour or necessarily to reveal imperfections in any Lot.

5.1 Unless otherwise stated in the Catalogue, the Buyer shall pay LBJ Auctions
the buyers Premium clearly written on each auction. The Buyer acknowledges
that the Company may also receive a Seller's Commission

6.1 Any Estimated Selling Range given by LBJ Auctions is a statement of opinion
and should not be relied upon as a representation as to the Sale Price a Lot may
achieve at a Sale.

7.1 If there is an Agreed Reserve:
(a) it may only be changed with the written consent of LBJ
(b) only the Auctioneer may place a bid on behalf of the Seller;
(c) neither the Seller nor any person on the Seller's behalf may bid on the Lot;
(d) if the Auctioneer is of the opinion that the Seller or a person on the Seller's
behalf may have bid on the Lot, the Auctioneer may knock down the Lot to the
Seller without observing the Agreed Reserve and the Seller shall pay to the
Company the Premium in addition to the Seller's Commission and Expenses.

8.1 The Auctioneer may knock down a Lot to the person who, at his or her
absolute discretion, he or she believes is the highest bidder acceptable to LBJ
Auctions , subject to any Agreed Reserve. Any dispute may be determined by the
Auctioneer at his or her absolute discretion and the decision of the Auctioneer
shall be final.

8.2 Every bidder shall be deemed to act as principal unless prior to the
commencement of the Sale there is a written acceptance by LBJ Auction that the
bidder is acting on behalf of a third party and that the bidder is not personally
liable.

8.3 No person shall be entitled to bid at a Sale without first having completed
and delivered to the Company a bidder registration form acceptable to LBJ
Auctions and the registration form will include an acknowledgement by a bidder
that they are bound by these Conditions.

8.4 LBJ Auctions is the agent of the Seller, not the Buyer, and it is not intended
that there be any legal relationship between LBJ Auctions and the Buyer.

9.1 An absentee bidder may make an absentee bid in the form of written
instructions directing LBJ Auctions to bid on one or more Lots up to a maximum
amount specified for each Lot. LBJ Auctions will execute the absentee bid at the
lowest possible price taking into account the Agreed Reserve and other bids.
There is no charge for this service. If identical bids are left by two or more
parties, the first bid received by LBJ Auctions will take first preference. The
Auctioneer may execute bids for absentee bidders directly from the rostrum,
clearly identifying these as absentee or commission bids.

9.2 LBJ Auctions is prepared to execute telephone bids on behalf of prospective
Buyers who are not at the auction at no charge on the condition that the
prospective Buyer acknowledges that taking instructions by telephone in the
course of an auction has inherent risks (such as possible miscommunication,
misunderstanding or other problems caused by a telecommunications fault or
failure including a mobile telephone connection failing ).

9.3 LBJ Auctions shall not be responsible for any errors or omissions in
connection with the execution of absentee or telephone bids.

10.1 At that same time that a prospective Buyer registers to bid he or she must
give LBJ Auctions his or her name and address and, if requested by LBJ Auctions,
banking or other suitable references or identification and an acknowledgement
that they have read and agreed to be bound by these Conditions.

10.2 The Purchase Price must be paid to LBJ Auctions not later than 4.00 pm on
the 3rd day after the Sale unless otherwise stated in the Catalogue.

10.3 Full payment for all Lots must be made to the Company by cash, electronic
funds transfer or approved credit card.

11.1 No Lot may be collected until the full Purchase Price has been received by
LBJ Auctions unless prior arrangements in writing have been made with LBJ
Auctions before the date of the Sale, provided always that ownership of the Lot
will not pass to the Buyer until cleared funds in payment of the full Purchase
Price have been received by LBJ Auctions.