Main Auction Galleries Terms/Conditions
Main Auction Galleries, Inc., Auction Terms and Conditions
1) REGISTRATION. All bidders must register their name, permanent street address (no P.O. Boxes), and telephone number prior to the auction. By registering with Main Auction Galleries, Inc., or submitting an absentee bid form, or registering to be called for a phone bid, an individual acknowledges that he or she has read and agrees to the terms and conditions of the auction.
2) ACCEPTANCE OF TERMS. Bidding on any item, whether in person, by phone, by absentee bid or via a live internet auction indicates the bidder's agreement to be bound by these Terms and Conditions for Bidders. Any right of bidder under this agreement shall not be assignable and shall only be enforceable by the original buyer. The rights and obligations of the parties shall be governed by the laws of the state of Ohio. All bidders submit to the personal jurisdiction of the state and federal courts in Ohio.
3) TERMS OF SALE. Announcements made the day of auction take precedence over any previous communication. The auctioneer reserves the right to withdraw any lot at any time before its final sale and to reject any bid for any reason. The highest bidder for each lot acknowledged by the auctioneer shall be the "buyer." If any dispute arises as to any bidding, or between two or more bidders, at the sole discretion of the auctioneer, the successful bidder will be determined, or the disputed lot shall be put up again at the last undisputed bid and resold. In the event of a ?tie? bid between floor, absentee, phone or computer bid, results in the item being won by the floor bidder.
4) BUYER'S PREMIUM. Buyer's Premium: The Auctioneer will collect and retain from the Buyer, as additional commission, a premium equal to 15% of the Sale Price of each Lot for floor bidders, 20% of the Sale Price of each lot for absentee, or by phone, and 25% of the sale price of each lot for internet bidders. Payments made with bank cards incur an additional 3% fee.
5) ESTIMATES AND RESERVES. Presale estimates are intended to be guides and may or may not reflect the ultimate hammer price of a lot. A reserve is a confidential minimum price agreed upon by the seller of the lot and Main Auction Galleries, Inc., In the case of reserved lots, the seller has authorized Main Auction Galleries, Inc., to bid on seller's behalf until the reserve price is reached. In no case will the reserve be higher than the low presale estimate.
6) WARRANTIES AND DISCLAIMERS. Main Auction Galleries, Inc., makes a limited warranty only to the original buyer of record concerning the authenticity of each lot for a period of 14 days after bidder's receipt of the purchased lot. If a buyer is not satisfied that the lot purchased is genuine, the buyer may, at his or her own expense, obtain the opinion of two mutually agreed upon recognized experts in the field of the disputed lot. If these experts determine that the item is not genuine, the buyer's sole and exclusive remedy shall be the rescission of the sale and refund of the amount paid for the item. It is specifically understood and agreed that the rescission of the sale and refund is exclusive and in lieu of any other remedy which might otherwise be available as a matter of law or in equity, and such remedy is conditioned upon the buyer returning the property in the same condition as at the time of sale. Main Auction Galleries, Inc., shall not be liable for any incidental or consequential damages. All sales are final, with no returns or refunds except as provided in this limited warranty.
Except as provided in the immediately preceding paragraph, EVERY LOT IS SOLD "AS IS," without any representations or warranties by Main Auction Galleries Inc., or the seller as to merchantability, fitness for a particular purpose, condition or value of the property, or the correctness or completeness of the catalogue or other description of the property, and no statement, whether written or oral, shall be deemed such a representation, warranty or assumption of liability. Main Auction Galleries Inc., makes no representation or warranty that the buyer of manuscript material, photographs, prints or works of art will acquire any copyright or reproduction rights. Main Auction Galleries Inc., does not guarantee the working order of any clock, watch, electronic or mechanical device. Dimensions given in the catalogue descriptions may be approximate.
7) INSPECTION. All lots are available for inspection prior to the auction. Condition reports for most items can be found online at Main Auction Galleries Inc., and on Live Auctioneers. Prospective bidders are encouraged to contact Main Auction Galleries, Inc., directly for additional information regarding the condition of any lot. Main Auction Galleries, Inc., does not warrant the condition of any item. Buyers interested in the condition of an item are encouraged to contact Main Auction Galleries, Inc., and, to the best of our ability, we will document for the prospective bidder the condition status on any lot. Condition is always a subjective evaluation and final responsibility rests with the buyer to assess the condition of any item sold by Main Auction Galleries, Inc.,.
ABSENTEE, TELEPHONE AND INTERNET BIDDING
Absentee and telephone bidding is offered as a service to our customers and prospective bidders. Main Auction Galleries, Inc., shall not be responsible for any errors or failures in executing bids, either absentee, telephone or via the internet.
8) ABSENTEE BIDDING. Absentee bids are accepted via phone, mail, fax, or email. Such bids will be posted with the time and date of arrival, with ties being awarded to the earliest bidder. Absentee bids that are faxed or emailed to Main Auction Galleries, Inc., need to be in the office at least 24 hours before the sale begins.
An absentee bidder unknown to Main Auction Galleries, Inc., may be required to submit a bank letter of credit prior to the auction, or, using a credit card, deposit with Main Auction Galleries, Inc., a fee equaling 30% of the absentee bid.
All absentee bids are executed competitively by a member of the auction staff. The auction staff will try to purchase the lot for the lowest price possible and will bid up to the amount designated by the absentee bidder only if necessary. Main Auction Galleries, Inc., does not accept "buy bids," or absentee bids which have no limit. In the event of a tie bid between a floor and an absentee bidder, the floor bid will be honored.
9) INTERNET BIDDING. Internet bidding is available through 51bidlive.com. There may be terms which apply to internet bids that should be reviewed online at the time of sale. Main Auction Galleries, Inc., is not responsible for any failure to execute a bid and shall have no liability to any bidder for any technical or other failure associated with an internet auction.
10) BUYER'S RESPONSIBILITY. Upon the fall of the hammer, title to the offered lot shall pass to the buyer and the buyer immediately assumes full risk and responsibility for the lot, including liability for loss or damage and is liable for payment of the Purchase Price (as defined below) to Main Auction Galleries, Inc. It is the buyer's responsibility to ask specific questions on condition related concerns prior to the auction.
11) PURCHASE PRICE AND PAYMENT. The "Purchase Price" for each lot shall equal the hammer price, buyer's premium, and sales tax if applicable, U.S. bidders may pay with cash, personal check, money order, bank check or wire transfer. Bidders outside the U. S. will be required to pay by wire transfer. Credit cards are accepted on an auction-by-auction basis - please contact the office prior to bidding in the auction to confirm payment options. Bidders unknown to Main Auction Galleries, Inc., may be asked to provide additional personal identity or banking information. Main Auction Galleries, Inc., reserves the right to hold a purchased lot until a check has cleared. A surcharge of 3% will be assessed to all credit card transactions.
Buyers who are present at the auction must pay the full Purchase Price at the time of the sale. Buyers who bid by telephone, by internet, or who are absentee bidders will be invoiced within 5 days after the close of the auction and must pay the full Purchase Price for each purchased lot within 14 days after the date of the invoice. No property will be released by Main Auction Galleries, Inc., unless the Purchase Price has been paid in full.Main Auction Galleries, Inc., may impose late charges of 1.5% per month (or the highest interest rate allowed) on any amount owed to Main Auction Galleries, Inc., that remains unpaid after 30 days. Buyer shall be liable for any collection costs or attorney's fees incurred by Main Auction Galleries, Inc., to collect payment, to the extent permitted by law.
12) SALES TAX. Buyers are required to pay any applicable state and local sales tax unless a verified vendors license is on file with Main Auction Galleries, Inc.
13) SHIPPING. Main Auction Galleries, Inc., does not offer shipping. We do have a list of shippers that our clients have used in the past and will post that list of shippers on the front of the Live Auctioneers invoice. It can also be supplied to bidders who request it in advance of the auction.
14) REMOVAL AND STORAGE OF PROPERTY. If purchased property has not been removed, or Main Auction Galleries, Inc., has not received shipping instructions within 21 days after the auction date, a $10 per item per day storage fee may be charged to the buyer. If the item(s) won are not removed within 90 days of the sale date we reserve the right to resell the item(s).
15) CANCELLATION OF SALE. If purchased property remains in the custody of Main Auction Galleries, Inc., for a period of 60 days following the auction, Main Auction Galleries, Inc., may, at its option, cancel the sale, retaining as liquidated damages any payments made by the buyer, or resell the property at auction or by any other commercially reasonable means, for the account and at the risk of the buyer, and in such event, buyer shall be liable for the payment of all deficiencies plus all of Main Auction Galleries, Inc., costs, including but not limited to storage and costs of both sales. This right of cancellation is in addition to any and all other remedies available to Main Auction Galleries, Inc.
