Beschreibung:

Details
CHEONG SOO PIENG (1917-1983)
On the Way Home
signed in Chinese (lower left); signed and dated ‘SOO PIENG 1975’ (on the reverse)
oil on canvas
82 x 101.5 cm. (32 1/4 x 40 in.)
Painted in 1975
Provenance
Acquired directly from the artist by the previous owner in 1976
Acquired from the above by the present owner
Special notice
Where Christie’s has provided a Minimum Price Guarantee it is at risk of making a loss, which can be significant, if the lot fails to sell. Christie’s therefore sometimes chooses to share that risk with a third party who agrees prior to the auction to place an irrevocable written bid on the lot. If there are no other higher bids, the third party commits to buy the lot at the level of their irrevocable written bid. In doing so, the third party takes on all or part of the risk of the lot not being sold. Lots which are subject to a third party guarantee arrangement are identified in the catalogue.
On occasion, Christie's has a direct financial interest in the outcome of the sale of certain lots consigned for sale. This will usually be where it has guaranteed to the Seller that whatever the outcome of the auction, the Seller will receive a minimum sale price for the work. This is known as a minimum price guarantee. This is such a lot.
Where Christie’s has provided a Minimum Price Guarantee, it is at risk of making a loss, which can be significant if the lot fails to sell. Christie’s therefore sometimes chooses to share that risk with a third party who agrees prior to the auction to place an irrevocable written bid on the lot. If there are no other higher bids, the third party commits to buy the lot at the level of their irrevocable written bid. In doing so, the third party takes on all or part of the risk of the lot not being sold. Christie''s compensates the third party in exchange for accepting this risk provided that the third party is not the successful bidder. The remuneration to the third party may either be based on a fixed fee or an amount calculated against the final hammer price. The third party may also bid for the lot above the irrevocable written bid. Where the third party is the successful bidder, the third party is required to pay the hammer price and the buyer’s premium in full. Third party guarantors are required by us to disclose to anyone they are advising their financial in