3.1. Right of Withdraw.
Auction House reserve the right to withdraw any property before the sale and shall have no liability whatsoever for such withdrawal. We also reserve right to divide and combine lots at any time before such property's auction. Unless otherwise announced by the auctioneer at the time of sale, all bids are per lot as numbered in the catalog and no lots shall be divided or combined for sale
3.2. Reserves.
All lots may be offered subject to a reserve, which is a confidential minimum price below which the lot will not be sold,and is agreed to between Auction House and the seller. Auctioneer has the right to bid on behalf of the seller, whether by opening bidding on any lot below the reserve or the auctioneer may continue to bid on behalf of the seller up to the reserve amount, either by placing consecutive bids or placing bids in response to other bidders. If the reserve amount is not met, the Auction House has the right to withdraw the item from the sale. If Auction House has an interest in an offered lot and the proceeds thereof other than our commissions, we may bid therefrom to protect such interest. With respect to lots offered without reserve, the Auctioneer has sole discretion to determine opening bid amount. CONSIGNORS ARE NOT ALLOWED TO BID ON THEIR OWN ITEMS. SHILL BIDDING IS STRICTLY NOT ALLOWED AND SHALL NOT BE TOLERATED.
3.3. Registration Required.
All Bidders are required to register pursuant to the Account Guidelines set forth in the general Web site Terms and Conditions. In order to bid on an item or lot, Bidder shall further be required to provide: (1) a valid proof of identification, such as a passport or driver's license, (2) re-sale permit, if applicable, (3) production of bank or other financial references, (4) registration deposit, (5) an authorization for proxy bidding, if appropriate, and (6) any other documentation that we may in good faith require. Only those registrations that are submitted no less than twenty-four (24) hours prior to auction shall be considered for an auction. Registrations submitted less than twenty-four (24) hours before the start of auction are only approved based on the discretion of the Auction House.
3.4. Deposit Required.
Typically, a registration deposit is not required. However, we do require a credit card to be retained on file as part of your registration. We will also verify the credit card to confirm that it is a valid and active account.
3.5. Absentee Bids.
As a service to those wishing to place bids, we will accept absentee or proxy bids without charge in our sole and exclusive discretion. Absentee bids are accepted by Auction House discretion. The absentee bidding form or online request must be received at least twenty-four (24) hours in advance of the auction. Absentee bids must state the maximum bid the Bidder is willing to pay. In the event that identical bids are submitted, the earliest bid received will take precedence; however to avoid this possibility, Bidder may authorize Auction House to increase a bid by one increment (by placing a plus (+1) beside the maximum bid for the item). In the event a Bidder has authorized incremental bidding, it shall be executed in competition with other Bidders and applicable to any reserve. If an absentee bid is received for item with a reserve, the auctioneer is authorized to open bidding at or consecutively bid to that reserve where the authorized maximum bid amount meet or exceed reserve. Auction House will not be held responsible or liable for absentee bids that are missed or otherwise not executed. Cancellation of any absentee bids must be received in writing at least twenty-four (24) hours prior to the start of the auction.
3.6. Telephone Bids.
As a service to those wishing to place bids, we will accept bids via telephone without charge in our sole and exclusive discretion and staff availability. Telephone bidding forms must be submitted no later than twenty-four (24) hours prior to the auction date. Telephone bids will only be accepted on lots with a low estimate of at least One Thousand U.S. Dollars and No/Cents ($1,000.00.) As telephone and absentee bids are options of convenience to the prospective purchasers, the Auction House maintains that it will not be held responsible for bids that are not sent, received, or executed by the administrator. Cancellation of any telephone bids must be received in writing at least twenty-four (24) hours prior to the start of the auction.
3.7. Right of Refusal.
We reserve the right to reject a bid from any Bidder, to split any bidding increment, to advance the bidding in any manner the auctioneer may decide, and to refuse bids in the best interest of the Auction House. In the event of any dispute between Bidders, or in the event the auctioneer doubts the validity of any bid, the auctioneer shall have sole and absolute discretion either to determine the successful bidder or to re-offer and resell the article in dispute. If any dispute arises after the sale, our sales records shall be conclusive in all respects.
3.8. Purchase, Hammer Price.
Upon the auctioneer's statement of "sold or fall of the auctioneer's hammer," the highest Bidder or authorized agent shall have purchased and acquire title to the offered lot in accordance with and subject to compliance with all of the conditions set forth herein and (a) assumes full risk and responsibility therefor, (b) if requested will sign a confirmation of purchase, and (c) will pay the purchase price in full for all lots purchased.
As used herein, the term "hammer price" means the price at which a lot is successfully sold to the highest Bidder. The term "purchase price" means the aggregate of (a) the hammer price, (b) a Buyer's Premium, which shall be added to the winning bid price of each lot purchased, retained by us and payable by the Buyer, (c) any service fees, and (d) state or local sales tax and/or other applicable taxes unless the Bidder is exempt by law. Sales tax will be applied without exception, unless the winning Bidder provides a valid and current re-sale certificate at or prior to time of payment. For online bids, an additional premium will be added for buyers using www.liveauctioneers.com or www.Invaluable.com. The additional internet fees are charged by the internet companies. Refunds shall be at the sole discretion of the Auction House, and if refund is granted to the Bidder, the Buyer's Premium shall be treated as a non-refundable restocking fee.
3.9. Payment.
Unless otherwise agreed, payments in United States Dollars (USD) are due and payable within three (3) business days following the auction sale. All lots are to be paid for by cash, wire transfer, or major credit card (Visa, MasterCard, Discover, or American Express). Whenever the purchaser pays only a part of the total purchase price for one or more lots purchased, we may apply such payments, in our sole discretion, to the lot or lots we choose. Payment will not be deemed made in full until we have collected the funds for all amounts due.
Credit card payments are accepted for payments not exceeding $5,000. Wire transfer is required where the payments exceeds $5,000. Auction house shall receive the total sum of the purchase price and other related charges. The Bidder is responsible for all bank charges and transfer fees.
In the event the bidder does not contact us to make payment arrangements within three business days, the bidder authorizes Auction House to charge the bidder's credit card on file. Bidder authorizes Auction House to debit the purchase price, shipping and handling, and other related charges to the transaction on bidder's credit card.
3.10. Conditions of Sale.
Sold lots may not be transferred. Payment in full is precondition to removal of any item. Any person placing a bid as agent on behalf of another, whether or not such person has disclosed that fact or the identity of the principal, shall be jointly and severally liable with the principal under any contract resulting from the acceptance of a bid. All sales will be completed at the discretion of the Auction House. Auction House reserves the right to cancel any sales and/or deny future transactions with of any Bidder if these Terms and Conditions of Sale are not met.
If the foregoing conditions or any other applicable conditions herein are not complied with, in addition to other remedies available to us and the consignor by law, Auction House shall be entitled in our absolute discretion to exercise one or more of the following rights and remedies: (i) right to hold the Purchaser liable for the purchase price and to commence legal proceedings for its recovery together with interest, legal fees, and costs, (ii) cancel the sale, retaining as liquidated damages all payments made by the Purchaser, or (iii) resell the property, either publicly or privately, and in such event the Purchaser shall be liable for the payment of any deficiency plus all costs and expenses of both sales, our commission at our regular rates, all other charges due and incidental damages, (iv) offset any amount which Auction House may owe the Purchaser in any other transaction against the outstanding amount remaining unpaid by the Purchaser, (v) reject any future auction bids made by or on behalf of Purchaser, and (vi) obtain to a deposit from the Purchaser before accepting any further bids.
