Auction Terms & Conditions Addison & Sarova Auctioneers GAL#AU-C002906
By bidding in this auction, you are agreeing to the following terms:
The following Conditions of Sale and Advice to Bidders are conditions upon which all property is offered for sale by Addison & Sarova. By bidding at auction (whether present in person or by agent, by written or telephone bid, or by any other means) the buyer agrees to be bound by these Conditions of Sale. Additional terms and conditions, and/or amendments to the below terms, may be posted or announced from the auction block prior to the sale and shall be equally binding.
Conditions of Sale
1. PROPERTY SOLD AT AUCTION BY ADDISON & SAROVA IS SOLD ON BEHALF OF CONSIGNORS AS THEIR AGENT. PROPERTY IS SOLD "AS IS" AND "WHERE IS" AND SOLD NOT SUBJECT TO RETURN. NEITHER ADDISON & SAROVA NOR THE CONSIGNOR MAKES ANY WARRANTIES OR REPRESENTATIONS OF ANY KIND OR NATURE WITH RESPECT TO THE PROPERTY OR ITS VALUE. NO STATEMENT (ORAL OR WRITTEN) IN THE CATALOGUE (ONLINE OR PRINT) BY ADDISON
& SAROVA OR BY THE CONSIGNOR (OR BY THEIR RESPECTIVE AGENTS), AT THE SALE, OR ELSEWHERE SHALL BE CONTSTRUED AS A WARRANTY, EXPRESS OR IMPLIED. CONDITION STATEMENTS, GRADES, WEIGHTS AND ANY OTHER STATEMENTS REGARDING ANY LOT ARE STATEMENTS OF OPINION ONLY. ALL LOTS ARE AVAILABLE FOR PHYSICAL INSPECTION PRIOR TO SALE, AND BIDDERS ARE ENCOURAGED TO INSPECT LOTS PRIOR TO BIDDING.
2. All bids are to be per lot as numbered in the catalogue.
3. Neither Addison & Sarova (nor any agent or representative thereof) nor the Consignor makes any representation that the purchaser of print material or works of art will acquire any copyright or reproduction rights thereto.
4. Addison & Sarova reserves the absolute right to withdraw any property at any time before its actual final sale, including during the bidding. Addison & Sarova also reserves the right to refuse any bid from any bidder. The auctioneer is the sole judge as to the amount to be advanced by each succeeding bid.
5. Any right of the purchaser under this agreement or under the law shall not be assignable and shall be enforceable only by the original purchaser. No purchaser shall be entitled to any remedy, relief or damages beyond return of the property, rescission of the sale and refund of the purchase price; and without limitation, no purchaser shall be entitled to damages of any kind.
6. The highest bidder acknowledged by the auctioneer shall be the purchaser. In the event of any dispute between bidders, the auctioneer shall have the absolute discretion either to determine the successful bidder or to re-offer and resell the lot in dispute. If any dispute arises after the sale, Addison & Sarova sales records shall be conclusive as to the purchaser, amount of highest bid, and in all other respects.
7. The purchase price paid by a purchaser shall be the sum of the final bid and a buyer's premium of 20% of the final bid on each lot ("the Buyer's Premium"), plus all applicable sales taxes. An additional 5% may be charged on any purchase made via an online bidding platform. Tax-exempt bidders must provide proof of exemption at the time of registration if they are A) a Georgia resident, or B) making their purchase on-site.
8. On the fall of the auctioneer's hammer, title to the offered lot or article will pass to the highest acknowledged bidder, who thereupon immediately assumes full risk and responsibility therefor, and who will immediately pay the full purchase price therefor. If the foregoing conditions or any other applicable conditions herein are not complied with, in addition to other remedies available to Addison & Sarova and the Consignor by law (including without limitation the right to hold the purchaser liable for the bid price), Addison & Sarova, at its option, may either (a) cancel the sale, retaining as liquidated damages all payments made by the purchaser, or (b) resell the property, either publicly or privately, for the account and risk of the purchaser. In such event the purchaser shall be liable for the payment of all deficiencies plus all costs, including warehousing, the expenses of both sales, and sales commission at its regular rates and all other charges due hereunder. Addison & Sarova may also impose late charges of 1.5% per month (or the highest rate allowed under applicable law, whichever is lower) on any amounts unpaid.
9. All property shall be removed from Addison & Sarova by the purchaser at his expense no later than five (5) days following its sale, and if not so removed may be sent to a public warehouse at the account, risk and expense of the purchaser. Whether sent to a warehouse or stored by Addison & Sarova, the purchaser shall be liable for all actual expenses incurred plus a storage charge of 5% of the purchase price.
10. Under no circumstances will the Consignor receive any rebate commission. Under no circumstances may the Consignor bid upon or buy back his property. Addison & Sarova reserves the right to bid on lots as may be necessary to protect seller reserves. "By- bidding" or any other fraudulent bidding or collusion by bidders in an effort to affect selling prices is strictly prohibited, and any parties found to be engaged in such activity may be prosecuted to the fullest extent of the law.
11. Except as may be otherwise expressly provided herein, any and all claims of a purchaser shall be deemed to be waived and without validity unless delivered in writing by registered mail return receipt requested to Addison & Sarova within fifteen (15) calendar days of the date of sale.
12. The rights and obligations of the parties shall be governed by the laws of the State of Georgia. All bidders and the purchaser submit to the personal jurisdiction of the Georgia State courts and their rules and procedures in the event of any dispute.
13. No waiver or alteration of any of these Conditions of Sale or the Advice to Bidders shall be effective unless it is in writing and signed by a representative of Addison & Sarova or unless it is publicly announced by the auctioneer from the auction block prior to sale.
14. Payment is due at the end of the sale, and floor bidders must pay before leaving. Out of town bidders will be sent an invoice and sums shall be due within 5 days. Payment may be remitted by Credit Card, Cash, Cashier's Check, Money Order, Personal Check, or by Wire. Online bidders paying with check or by other cash equivalent means may qualify for a discount of 3%. Buyers paying by personal check will not be allowed to take property into their possession until the funds have cleared our bank. Wire transfers must be sent in funds denominated in U.S. Dollars, and the buyer is responsible for all costs related to the transfer. For any checks returned by our bank, Addison & Sarova will assess a $100 fee to the buyer.
15. In the event of non-payment by the bidder within 4 weeks of the sale date, legal action may be taken by Addison & Sarova, in their discretion, to obtain the funds due. In such case, the bidder agrees to pay any and all attorney's fees and/or related travel expenses of Addison & Sarova, or any agent thereof.
16. THE "CONDITIONS OF SALE" AND "ADVICE TO PROSPECTIVE BIDDERS" ATTACHED HERETO FORM PART OF THIS BIDDER CONTRACT. BY BIDDING IN THIS AUCTION, YOU ACKNOWLEDGE RECEIPT OF THE ABOVE AND AGREE TO BE BOUND BY THE TERMS OF THIS BIDDER CONTRACT.
Advice to Bidders
1. ALL PROPERTY IS SOLD SUBJECT TO THIS ADVICE AND THE CONDITIONS OF SALE.
2. IDENTIFICATION. Government issued ID, preferably a current driver's license, is required to register for any auction. For out-of-town bidders, a photo-copy or facsimile of ID is sufficient.
3. INSPECTION OF PROPERTY. Prospective bidders or their agents should inspect property prior to the auction. Addison & Sarova staff are available to advise prospective bidders at all pre-sale exhibitions and by appointment. Catalogue descriptions are provided for the bidder's consideration but should not be construed as a substitute for physical examination of property.
4. SALES TAX. All items purchased are subject to payment of City and State sales taxes unless the purchaser presents proof of exemption therefrom. Purchases will not be released unless all sales tax requirements are satisfied. Purchases shipped outside of the State of Georgia are not subject to sales tax.
5. BIDDING INCREMENTS. $5 up to $50; $10 up to $150; then $25 to $500; $50 to $1,000; $100 to $2,000; $250 to
$5,000; $500 to $10,000; $1,000 to $15,000; $2,500 to $50,000; and approximately 10% of the current bid thereafter. However, the auctioneer may modify the increments at any time. The auctioneer reserves the right to refuse any bids.
6. RESERVES. Lots are sold subject to a reserve, which is the confidential minimum price agreed to with the seller below which the lot will not be sold. The reserve will never be higher than the low pre-sale estimate. In most cases, the auctioneer will implement such reserve by opening the bidding at the reserve price.
7. ESTIMATES. The estimates provided are intended as a guide to bidding. The figures are educated guesses based on recent trends, and such estimates reflect our opinion as to the amount for which a lot will sell in an auction setting. The estimates are exclusive of the buyer's premium, and may be revised at any time prior to the auction. Final bid prices may be significantly higher or lower than the estimated figure. The estimates are often a small fraction of retail prices one may or may not find for similar items on the retail market, and thus, the estimates do not imply any warranty or guarantee of retail or intrinsic value.
8. BIDDING. All persons attending the auction must obtain a bidding number prior to bidding. If bids cannot be made in person or by an agent, they may be made by mail, fax, telephone or online (for most auctions). Regardless of the bidding method, each bidder is required to register for the sale by signing the Bidder Contract and obtaining a bidder number.
9. ABSENTEE BIDS will be executed competitively by Addison & Sarova on the bidder's behalf. Bids by absentee should be stated in U.S. dollars using the Absentee bidder form available online, by email or by postal mail.
10. SHIPMENT. Upon request, we will facilitate the shipping of purchases to out-of-town buyers at an additional charge for packing, postage and insurance, but will not be responsible for any loss, damage or delay resulting from the packing, handling and shipping thereof. Addison & Sarova is the sole judge of the method to be used for shipment, and shipping will be provided by either UPS or FedEx. If we ship to the address which the bidder provides and the shipment is undeliverable (due to error, buyer's negligence, or absence), then the buyer is responsible for the return shipping costs we incur when the item is returned to us as well as the re-shipping of the item back to them.
11. CREDIT. Bidders registering for the sale may, at our discretion, be required to provide credit references, additional proof of identity, or any other details Addison's deems necessary to establish the bidders credibility.
12. DESCRIPTIONS. Descriptions of quality, grade, weight, measurements or any other statements of condition made in the online catalogue, print catalogue, or made orally by the auctioneer (or any agent of Addison & Sarova) are statements of professional opinion only and should not be relied upon as a substitute for physical inspection of property by the bidder prior to bidding.
13. Some online bidders may be required to provide credit card information to us prior to the auction to secure their bids. Any lots won, and shipping charges, will be charged to the credit card provided.