Conditions of Sale
1. All property is sold "as is," and neither the auctioneer nor any consignor makes any warranties or representation of any kind or nature with respect to the property, and in no event shall they be responsible for the correctness, nor deemed to have made any representation or warranty, of description, genuineness, authorship, attribution, provenance, period, culture, source, origin, or condition of the property and no statement made at the sale, or in the bill of sale, or invoice or elsewhere shall be deemed such a warranty of representation or an assumption of liability.
2. The highest bidder as determined by the auctioneer shall be the purchaser. In the case of a disputed bid, the auctioneer shall have sole discretion in determining the purchaser and may also, at his or her election, withdraw the lot or reoffer the lot for sale. The auctioneer shall have sole discretion to refuse any bid, or refuse to acknowledge any bidder. Any bidder that plans on spending in excess of $100,000 should make arrangements with the accounting department at least five (5) days in advance of the sale, as a deposit may be required to participate.
3. All merchandise purchased must be paid for and removed from the premises the day of the auction. LB Auctions, LLC may impose, and the purchaser agrees to pay, a monthly interest charge of 1.5% of the purchase price of any lot or item lot not paid for within thirty-five (35) days of the date of sale.
LB Auctions, LLC. shall have no liability for any damage or loss to property left on its premises for more than three (3) days from the date of sale. If any property has not been removed within three (3) days from the date of sale, at the option of LB Auctions, LLC. (a) May impose, and the purchaser agrees to pay, a monthly storage charge of 1.5% of the purchase price of any lot or portion of a lot not removed within the three days, and/or (b) LB Auctions, LLC may place the merchandise in a subsequent auction, without Reserve, to be sold to the highest bidder, and after deducting the standard commission and any additional charges that may apply, remit the proceeds to the purchaser.
4. LB Auctions, LLC accepts cash or check for payment. Personal checks will be acceptable only if credit has been established with LB Auctions, LLC. or if a bank authorization has been received guaranteeing a personal check. LB Auctions, LLC. reserves the right to hold merchandise purchased by personal check until the check has cleared the bank. The purchaser agrees to pay LB Auctions, LLC. a handling charge of $25.00 for any check dishonored by the drawee. Please contact Accounting for additional payment methods. LB Auctions, LLC does not accept payment by credit card for merchandise purchases.
5. If the purchaser breaches any of its obligations under these Conditions of Sale, including its obligation to pay in full the purchase price of all items for which it was the highest successful bidder, LB Auctions, LLC. may exercise all of its rights and remedies under the law including, without limitation, (a) canceling the sale and applying any payments made by the purchaser to the damages caused by the purchaser's breach, and/or (b) offering at public auction, without reserve, any lot or item for which the purchaser has breached any of its obligations, including its obligation to pay in full the purchase price, holding the purchaser liable for any deficiency plus all costs of sale.
6. In no event will the liability of LB Auctions, LLC. to any purchaser with respect to any item exceed the purchase price actually paid by such purchaser for such item.
7. Shipping is the responsibility of the purchaser. Upon request, our staff will provide the list of shippers who deliver to destinations within the United States and overseas. Some property that is sold at auction can be subject to laws governing export from the U.S., such as items that include material from some endangered species. Import restrictions from foreign countries are subject to these same governing laws. Granting of licensing for import or export of goods from local authorities is the sole responsibility of the buyer. Denial or delay of licensing will not constitute cancellation or delay in payment for the total purchase price of these lots.
8. Sales in Pennsylvania are subject to current sales tax. Dealers may be exempt from sales tax upon submission of proper documentation.
9. A premium equal to 22% of the final bid price up to and including $50,000, plus 20% of the final bid price from $50,001 up to and including $250,000, plus 18% of the final bid price from $250,001 and over will be applied to each lot sold, to be paid by the buyer as part of the purchase price.
10. Bidding on any item indicates your acceptance of these terms and all other terms printed within, posted, and announced at the time of sale.
11. LB Auctions, LLC. and its consignors make no warranty or representation, express or implied, that the purchaser will acquire any copyright or reproduction rights to any lot sold. LB Auctions, LLC. expressly reserves the right to reproduce any image of the lots sold in this catalog. The copyright in all images, illustrations and written material produced by or for LB Auctions, LLC. relating to a lot, including the contents of this catalog, is, and shall remain at all times, the property of LB Auctions, LLC. and shall not be used by the purchaser, nor by anyone else, without our prior written consent.
12. These conditions of sale shall be governed by the laws of the Commonwealth of Pennsylvania (excluding the laws applicable to conflicts or choice of law). The buyer/bidder agrees that any suit for the enforcement of this agreement may be brought, and any action against LB Auctions, LLC in connection with the transactions contemplated by this agreement shall be brought, in the courts of the Commonwealth of Pennsylvania or any federal court sitting therein. The bidder/buyer consents to the nonexclusive jurisdiction of such courts and waives objections that it may now or hereafter have to the venue of any such suit.
