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These Conditions of Sale are applicable to every purchase at IvoryAndArt's Auctions. Please read carefully.
By registering to bid at auction, in person, or through an agent, by absentee bid, or telephone or any other means including the Internet and e-mail, you agree to be bound by these Conditions of Sale (and changes made as noted below.) All property and every lot for sale in our catalog is offered subject to the following terms and conditions, along with any changes that may be published or announced prior to or during a sale by IvoryAndArt's Auctions (IA). The terms "IA" "us," "we," or "our" as used herein all refer to IvoryAndArt's Auctions. Unless otherwise indicated in the catalog or at time of sale, IA acts at all times solely as the agent for the seller. All sales shall be deemed to occur in Israel, TLV regardless whether by telephone, mail or through the Internet or the physical location of the buyer.
Definitions
Hammer price: The highest bid received for a lot upon the fall of the auctioneer's hammer.
Buyer's premium: The amount paid by the buyer as a percentage of the hammer price and in addition thereto.
Purchase price: The aggregate of the hammer, buyer's premium and applicable taxes or other fees, if any, as may be required by law.
Reserve: The minimum price at which the lot may be sold.
Buyer: The person or entity who buys property at auction or private sale.
Consignor: The seller, or the seller's representative, on behalf of whom we are selling the Property.
Lot: The single item or group of items offered by us for sale.
Property: The item or items comprising an auction lot being offered for sale.
Buyer's Premium
20%
Terms of Sale
a. The Purchase of and Payment for Property
The sale of a lot shall be to the highest bidder as determined by the auctioneer, in accord with these Conditions of Sale. Title to the lot shall pass with the fall of the Auctioneer's hammer. Buyer shall pay the Purchase price, as defined above, and such other fees as may be due, in full, within seven (7) days of the auction sale. Sale is not final and property will not be released to Buyer until good funds for all amounts due, are received by IA. Payment may be made (ii) by wire transfer, (iii) By Credit Card(+3.5% when buyer's credit is approved). No lot shall be transferred by Buyer to another person until the sale is final. In the event of partial payment for any lot or lots we shall apply payments, in our discretion, to the lot or lots we select. The Buyer grants IA a security interest in the purchased Property, and we may retain as collateral any property purchased and any funds in our possession, to secure a Buyer's obligations to us, if any. We retain the rights of a secured party under the California Commercial Code. All fees, taxes, premiums or other sums due and not paid pursuant to this paragraph shall bear interest at 1.5 % per month from the 8th day following the sale to the date paid in full.
b. Collection of Property
Upon transfer of title, Buyer assumes full responsibility, including risk of loss and damage, for the Property. Purchased property shall be removed at Buyer's expense within fifteen (15) days after the sale becomes final. Property not removed shall be subject to a service fee of $50, and a storage fee, if retained by IA, of 1% of the purchase price per month. IA may also, in its sole discretion, elect to place the Property in a public storage facility at the Buyer's sole risk, responsibility and expense.
c. Liability for delivery of property.
If, however, for any reason whatsoever, we are unable to deliver the purchased Property to the Buyer, IA shall be liable to the Buyer only for the Purchase price paid by the Buyer and in no event shall we be liable for incidental or consequential damages, including, but not limited to, business interruption or loss of profit.
The Auction Procedure
a. Registration
Bidders must register in advance to bid at auction. If by Internet please comply with, sign and send back the requisite form or absentee bid. IA reserves the right at its sole discretion, to refuse anyone the right to register and participate at an auction.
b. Announcements
We may, at the commencement of, or during the Auction, announce changes in or modifications to the Conditions of Sale or descriptions of Property.
c. Absentee Bids
For a Buyer's convenience, absentee bids will be accepted, when properly executed and submitted in a timely manner. However, we neither accept any responsibility to an absentee bidder, nor any liability whatsoever for a failure to execute the absentee bid for any reason. In the event that identical multiple absentee bids are the highest bids received for the same lot then the earliest received of the competing absentee bids shall prevail at that bid amount.
d. Auctioneer's Discretion
The Auctioneer has the absolute discretion to 1) pass a lot or withdraw it from sale at any time prior to its actual sale; 2) refuse to recognize any bidder; 3) refuse to recognize any bid; 4) resolve any dispute between bidders or resolve any doubtful bid by deciding who is the successful bidder or nullifying the auction of the lot and reoffering it for sale. The Auctioneer's decision is binding as to disputes arising at auction. If a dispute arises post sale, our records of the sale shall be conclusive. Both the Auctioneer and IA shall be without any liability whatsoever resulting from the exercise of the discretion referred to herein.
e. Reserves
All Property is offered for sale subject to a Reserve unless otherwise stated by us at time of sale. Neither the consignor nor an agent or representative of the consignor is allowed to bid on their own property.
Disclaimer of Warranties
Except for warranty of title, neither we nor the Consignor make any warranties, guarantees or representation, express or implied, with respect to the Property, including, but not necessarily limited to, any implied warranty of "fitness for purpose" or "merchantability."
Any and all statements and descriptions in any catalogue or elsewhere by IA, relating to age, attribution, authenticity, size, genuineness, provenance, historical relevance or significance, physical condition, importance, quality, quantity, rarity, period, culture, source or origin, are presented as statements of qualified opinion only.
IA's disclaimer of liability covers information contained in catalogues, and all other printed material published by us, including condition reports. Buyers assume the responsibility to inspect the Property and make their own decision as to the nature, quality and value of the Property.
Neither IA nor the Consignor make any warranty or representation with regard to the existence of or the transfer of intellectual property rights, except and to such extent as may, from time to time, be explicitly stated.
No employee of IA is authorized to nor shall make any warranty or representation on IA's behalf, except as stated in the catalog or in any written addendum.
Estimates of Value
All estimates of value as published in our catalogs or elsewhere are statements of qualified opinion as to the range of the price a willing buyer might pay for the Property at auction. The actual price paid at auction or subsequently, may vary substantially from the estimates. IA shall not be liable for any such differential.
Buyer's Default
If a Buyer fails to pay for purchased Property, or otherwise does not comply with these Conditions of Sale, the Buyer shall be in default. In addition to all remedies available in law, to IA and to the Consignor, the Buyer shall be liable for the entire Purchase price. Additionally, at our option, we may either cancel the sale and retain all payments made by Buyer as well as retain any and all Property of Buyer in our possession as security against payment of the sums in default, or we may re-offer the Property for sale, at auction or privately, without reserve. Buyer shall be liable to us and the Consignor for the additional fees, commissions and costs on both sales (including handling, storage and court costs and attorney's fees) resulting from the cancellation or resale of the Property and in the event of resale, any deficiency which may result.
Rescission
The sole and exclusive remedy, available only to the original buyer, is the limited right of rescission set forth herein. IA will cancel the sale of Property if the original buyer establishes to our satisfaction that there has been a breach of the Consignor's warranty of title, or that the identification of Authorship* of the Property as set forth in Bold Type Heading is not substantially correct, based on a fair reading of the Catalog (as may be amended by posted or announced changes.) IN ALL INSTANCES, YOU MUST GIVE WRITTEN NOTICE TO US WITHIN 30 DAYS OF THE SALE OF THE PROPERTY, SETTING FORTH THE BASIS FOR YOUR CLAIM AND, AT YOUR SOLE EXPENSE AND RISK, RETURN THE PROPERTY IN QUESTION TO IA WITHIN SEVEN (7) DAYS AFTER NOTICE IS GIVEN AND IN THE SAME CONDITION AS WHEN SOLD. Upon review of the claim and the property, if we are satisfied with the bases for your claim and the property is in the same condition it was in when sold, IA will rescind the sale and return to you the Purchase price, unless we have already remitted funds to the Consignor. In that event, and at IA's sole discretion, IA shall either pay you as provided above, or shall pay you only that portion of the Purchase price retained by us (the Seller's commission, the buyer's premium and any sales taxes collected) and on your behalf make demand on the Consignor for the balance and upon receipt of the funds remit same to you. Should the Consignor refuse to return the funds to you or to IA, we shall disclose the Consignor's identity and assign to you any and all rights IA may have against the Consignor. Any and all liability IA may BUYER EXPRESSLY UNDERSTANDS AND AGREES THAT IA SHALL HAVE NO OTHER LIABILITY TO THE BUYER EXCEPT FOR THE RETURN OF THE PURCHASE PRICE AND THAT IN NO EVENT SHALL IA BE LIABLE FOR ANY DAMAGES, INCLUDING BUT NOT LIMITED TO INCIDENTAL, CONSEQUENTIAL OR COMPENSATORY DAMAGES OR LOSS OF PROFIT OR BUSINESS OPPORTUNITY.
Unless determined to be a forgery, the sale of paintings created prior to 1870 shall not be subject to the right of rescission.
*Authorship refers to the maker or creator of the Property, and the period, social culture, and origin of the Property as stated in the Bold for a given lot in our catalog. It does Bold Type Heading.
Miscellaneous
a. Modification: No modification or amendment of the Conditions of Sale shall bind IA unless contained in a writing signed by IA, except as may be posted or published as noted above or verbally announced at time of sale.
b. Severability: If, for any reason, any part of the Conditions of Sale is held to be invalid or unenforceable, the remaining portion shall be valid and enforceable.
c. Successors and Assigns: The Conditions of Sale shall be binding on all the heirs and assigns of the Buyers and bidders and inure to the benefit of IA's successors and assigns.
d. Jurisdiction, Venue, Choice of Law: Dispute resolution shall occur in Alameda County, California, USA. The provisions of the Conditions of Sale will be construed and disputes determined by application of California Law, without regard to conflicts of law.
e. Notice, Service of Process: Buyers agree to accept all notices and service of process relating to dispute resolution at the address provided by Buyer on any registration forms required to be executed as a condition of bidding in our auction.
f. Dispute Resolution: All disputes and claims arising out of or relating to events and actions covered herein, brought by or against us, shall be resolved by mediation or binding arbitration in accord with the procedures set forth below. This provision does not apply to claims brought by the Buyer directly against the Consignor, including, but not limited to any action brought pursuant to the rescission provisions noted above.
Optional Shipping Provisions
Shipping, insurance packaging and handling of purchased lots is at the risk and expense of the purchaser. As a service to the purchaser, IA may ship appropriate items solely via EMS, UPS Or DHL. IA will, in no event insure the property whether or not packaged and shipped by IA. IA shall not, under any circumstances, be liable for the loss, theft or damage to property, including, but not limited to selection of shipper, the acts or omissions of any shipper or the acts or omissions occurring in packing for shipment. It is the purchaser's responsibility to obtain a shipping quote for any lot being offered, from an outside shipper, prior to the auction date. (As a courtesy, IA will provide quotes for items to be shipped via UPS, DHL or EMS). Post sale determination of shipping costs does not constitute grounds for cancellation of any purchase made at auction. Purchasers are advised that large and fragile items can be expensive and that IA will ship no property without first obtaining consent from the purchaser and only after packing and shipping costs have been disclosed by IA. When IA is to pack and ship, IA will provide to the bidder with a quote for cost of packing and handling and the Courier Company Fee(EMS, UPS or DHL). The Purchaser is responsible for any insurance of the shipment. Shipment will not be made until both all sums due IA including the shipping and handling fees as quoted, and written confirmation is received that insurance has been waived or has been obtained by purchaser. Shipment may take up to 21 days after payment is received.
Mediation and Arbitration Procedures
(a) Within 30 days of written notice that there is a dispute, the parties or their representatives may meet at a time and place mutually agreed upon, to mediate their differences. If the parties agree, a mediator acceptable to the parties shall be selected. The mediator shall be an attorney, trained in mediation techniques and familiar with commercial law . The mediator's fees shall be shared equally and paid by all parties. At the mediation, all parties shall have actual authority to settle the dispute. Any statements made during, and all aspects of, the mediation process shall be kept confidential and shall not be admissible in any subsequent arbitration or judicial proceeding. Any resolution shall be confidential. (b) If the parties cannot agree to mediation, or if mediation does not resolve the dispute, or in any event no longer than 60 days after receipt of written notice referred to above, the parties shall submit the dispute for binding arbitration before a single neutral arbitrator jointly selected, or absent agreement, selected from the panel of Arbitrators provided by the American Arbitration Association (AAA). If, within 15 days, the parties cannot agree on an arbitrator, then AAA shall select one (1) person as arbitrator in accord with AAA rules. The arbitrator shall be an attorney, experienced in commercial law and with the UCC. The arbitrator shall be required to follow the law in making his award, and the award shall be in writing and shall set forth findings of fact and legal conclusions.(c) The arbitration shall occur within 60 days of the selection of the arbitrator, in either Oakland or San Francisco, California, unless the parties agree to another location. Discovery and the procedure for the Arbitration shall, unless otherwise agreed to by the parties, follow the procedures and policies of AAA governing commercial arbitration, subject however to the following modifications:
All arbitration proceedings shall be confidential. None of the parties nor the arbitrator, may disclose the existence, content or results of the arbitration without the written consent of all parties.
The parties shall attempt to agree on the issues to be arbitrated, or identify the disputed issues in writing no later than 45 days prior to arbitration.
Unless otherwise agreed by the parties, discovery, if any, shall be limited as follows: (a) Requests for no more than 10 clearly identified categories of documents, to be provided to the requesting party within 14 days of written request therefore; (b) Depositions: No more than two (2) per party, provided however, the deposition(s) are to be completed within one (1) day; (c) Compliance with the above shall be enforced by the arbitrator in accord with Israel law.
Each party shall have no longer than eight (8) hours to present its position. The entire hearing before the arbitrator shall not take longer than three (3) consecutive days, unless all parties agree otherwise in writing.
The award shall be made in writing no more than 30 days following the end of the proceeding. Judgment upon the award rendered by the arbitrator may be entered by any court having jurisdiction thereof. Each party shall bear its own attorney's fees and costs in connection with the proceedings and shall share equally the fees and expenses of the arbitrator.
