XIAO LINZHAO (SIAO LING-CHO) - 1901-1966 - Lot 137

HOTEL DES VENTES DE LAUSANNE SA

Phone (France): +33 (0)6 19 50 76 39 - Phone (Switzerland): +41 (0)78 933 23 35

contact@hdv-lausanne.com

Auction fees: 25% (including tax) in addition to the hammer price, plus an additional 1.5% for purchases made via Drouot Digital.

Exhibition: LA SALLE, 20 rue DROUOT, 75009 PARIS

Thursday, October 8, and Friday, October 9, 2026, from 10 a.m. to 6 p.m.

LAUSANNE: private viewing on Saturday, October 10, 2026

Live Closed-Door Auction 1004 LAUSANNE - SWITZERLAND:

Monday, October 12, 2026, at 2:00 p.m.

Delivery of lots with no shipping charges to PARIS, LYON, MARSEILLE, and LAUSANNE a few days after the sale.

Or shipping from FRANCE at the buyer’s expense via the carrier of their choice.

High-resolution photos:https://bit.ly/hdv-lausanne

Expert Auctioneers

Christian and Rémi SORRIANO

Participating in the auctions of the Hôtel des Ventes de Lausanne LIVE WITH OR WITHOUT PRIOR VIEWING, whether electronically, by phone, or by purchase order, implies that all buyers or their representatives unconditionally accept and adhere to these terms of sale. They are deemed to act in their own name and on their own behalf.

Live sales with or without prior viewing are sales broadcast live on the websites of Hôtel des Ventes de Lausanne.com and Drouot.com.

Therefore, participants via one of these two platforms must read and unreservedly accept their terms of use, which are independent and in addition to these general terms and conditions for LIVE SALES WITH OR WITHOUT PRIOR VIEWING of the Hôtel des Ventes de Lausanne.

Art. 1 - The auction sale is strictly for immediate cash payment and without guarantee. The sale and adjudication take place in Swiss francs or euros, with real-time conversion displayed on an exchange rate board visible on the Internet.

Art. 2 - Payments for purchases can be made by bank transfer or in cash, with a maximum of 100,000 Swiss francs or 100,000 euros.

The Hôtel des Ventes is free to accept or refuse payment by certain credit cards. Visa and Mastercard debit cards will incur a surcharge of 2.3% of the total amount as a contribution to part of the fees charged by the card issuer.

American Express and other credit cards are not accepted. Checks are not accepted.

Art. 3 - The buyer must pay a buyer’s premium of 25% in addition to the hammer price of each lot, plus 8.1% VAT on this premium, totaling 27.03% (exempt for buyers domiciled outside Switzerland). This sales fee is increased by 1.5% for purchases made via Drouot Live.

Art. 4 - The lot will be awarded to the highest bidder. The word "Sold" closes the auction. In case of a dispute at the time of adjudication, the sale will be canceled, and the lot will be immediately re-auctioned.

Art. 5 - The Hôtel des Ventes is legally required to uphold reserve prices recorded in its estate inventory reports and in other cases of compulsory auction sales. The auctioneer is therefore obliged to bid on behalf of the sellers. If this price is not reached, the lot will be passed over with a simple hammer strike. Unsold lots may be sold privately after the auction at the sole discretion of the auctioneer.

Art. 6 - The auctioneer has the right to modify the order of lots and to separate, group, or withdraw lots at his sole discretion.

Art. 7 - The auctioneer has the right to refuse a bid and/or the adjudication of a lot.

Art. 8 - The highest and last bidder of a lot will be declared the winning bidder. In case of a double bid leading to a dispute between two bidders in the room, on the phone, or online, and if the dispute is deemed legitimate by the auctioneer, the lot will be immediately re-auctioned.

Art. 9 - Since LIVE SALES WITH VIEWING allow buyers to assess the condition or authenticity of objects, no claims will be accepted once the lot has been awarded. The auctioneer is available before LIVE SALES WITH OR WITHOUT VIEWING to provide information about the lots, their period, and their condition.

Estimates, dimensions, reproduction colors, and condition information are provided for guidance only. This means that all lots are sold in the condition they are in at the moment of adjudication, and no claims of any kind will be accepted, even if related to an erroneous description in the catalog published on the websites of the Hôtel des Ventes de Lausanne and Drouot.

The condition of frames is not guaranteed. Usual restorations and relinings are considered conservation measures and do not constitute grounds for depreciation of the lots. Condition reports can be provided upon request, free of charge, via email or telephone.

Art. 10 - The buyer becomes the owner of the lot only upon full payment.

Art. 11 - Upon buyers' request, the Hôtel des Ventes may recommend service providers for handling, packing, storage, and transport. This recommendation does not engage the liability of the Hôtel des Ventes.

It is the buyer's responsibility to insure the lots from the moment of adjudication, as from that point, the risks of theft, loss, damage, or other issues fall entirely under their responsibility. The Hôtel des Ventes declines any liability for damages or the buyer’s failure to insure against such risks.

Art. 12 - Any dispute related to this sale is subject exclusively to Swiss law and the jurisdiction of the courts of the Canton of Vaud, regardless of the auction location or the domicile of the parties.

Legally, the French version of these terms of sale constitutes the sole authoritative reference.