Automobilia & Petroliana Sale Day 1

Bidder Terms and Conditions We advise all bidders to read the Terms and Conditions of the Sale before bidding with Dan Morphy Auctions LLC and/or its affiliates Morphy Firearms LLC, and Morphy Auctions, Las Vegas collectively referred to below as DMA. Those who bid are bound by those Terms and Conditions of the Sale, as amended by any oral announcement or posted notices, which together form the contract of the sale between the successful bidder (purchaser), DMA and the seller (consignor) of the lot. TERMS OF SALE When bidding on any lot offered by DMA, the bidder indicates acceptance of the following Terms of Sale. Any participation in the auction binds you to agreement of these terms whether or not you read or understand said terms. CONDITION OF ITEMS DMA makes every effort to accurately describe all items offered in its sales, however all items for sale are “as is,” and it is the bidder’s responsibility (present or absentee bidders) to determine the exact condition of each item. DMA will not be held responsible for typographical errors. Neither we nor the consignor, make any guarantees, warranties, or representation expressed, or implied, in regard to the property or the correctness of the catalog or other description of the authenticity of authorship, physical condition, size, quality, rarity, importance, provenance, exhibition, literature or historic relevance of the property or otherwise. No statement anywhere whether oral or written, shall be deemed such a guarantee, warranty or representation. Prospective bidders should inspect the property before bidding to determine its condition, size and whether or not it has been restored. The consigner and we make no representation or warranty as to whether the purchaser acquires any reproduction rights in the property. Returns will not be accepted under any circumstances. All items will be available for preview one (1) month prior to the auction. All items are sold for display purpose. If electrical, mechanical, or other working parts are inoperable, even if working at the time of sale, we are not liable due to the inherent nature of the age of these antiques and items. AUTOMOBILES – These terms do NOT apply to our automobile auctions. To view the terms and conditions for our Automobile Auctions, please go to: www.morphyauctions.com/autoterms FIREARMS – All firearms transfers will be in strict accordance with all International, Federal, State and local laws. Be sure to check your country, state and local laws before bidding. If you are unable to import, purchase or own a firearm according to your residency laws, do not bid on these items. If you bid and find out later you cannot legally own/accept delivery, the bid is still a valid contract that the buyer must pay. • Condition of Firearms and Related Items o Condition is always a subjective evaluation. Final responsibility rests with the buyer to assess the condition of items. It is not possible to adequately describe in text or photos an antique or collectible item, and many modern items, that have seen use and show wear. DMA’s goal at all times is to be as fair and honest in our catalog descriptions. DMA recommends that you personally inspect all items, or enlist a trusted professional to do so for you. o DMA will only consider a refund when there is a major description discrepancy or authenticity issue that has a major effect on value. Examples that apply are major restoration or repair not described, counterfeits, reproductions or major fabrications. o DMA will not refund sales with buyers that have disputes regarding a firearm’s bore condition. o If the discrepancy is less than major, DMA will not under any circumstance provide a refund. This means that if you are purchasing an item and find undisclosed blemishes, finish differences, wood-to-metal fits issues, surface cracks or chips in wood, dings and dents, and other similar differences, it will not qualify for refund consideration. o Should the buyer have a major dispute regarding an item, the buyer must notify DMA within three (3) days of receipt of the item to receive consideration. DMA in its sole discretion may provide refunds for major description discrepancies or authenticity issues. Should DMA deny an authenticity issue dispute of the buyer, and the buyer is not satisfied, the buyer may, at his or her own expense, obtain the written opinion of two mutually agreed upon recognized experts in the field of the disputed item. The final decision of those experts will determine any refund consideration. o There will be no options for refunds of any type beyond 35 calendar days from the auction date. o Paying late and thus receiving items late will not change the limitation on the dates above for refund consideration. DMA ships items in order of payment. o These terms are available only to the original buyer of record. All sales are final. • Firearms Catalog Designations o A: antique o M: modern (post 1898), Federal Firearms License (FFL) requirements apply o C: curio & relic eligible o N: National Firearms Act / Title II Gun Control Act of 1968 (Class III SOT) requirements apply • Checkout and pickup at our location: o The same person to whom the bidder number is registered must be the person to pick up the firearm(s) at the conclusion of the sale – Federal Law disallows anyone else from accepting the transfer. o Modern firearms sales to non-licensed bidders who are picking up guns at our location will require the completion of a form 4473 background check. Handgun purchases also require an additional PICS form/background check for each handgun purchased. This process to fill out forms and obtain a response may take 5-10 minutes. Any applicable state fees associated with these checks will be added to the customer’s invoice. o If you are “Denied” by FBI / PICS background check, you will not be able to take possession of the firearm and the firearm will be consigned to the next available firearm auction. If you do not pay for the item in full, bidder will be blocked from participating in future firearm auctions. o If you are appealing a “Denied” decision, we will hold the firearm only if you pay in full. o Licensed bidders, i.e. Federal Firearms licensees or Curios & Relics license holders must present a current signed copy of their license. C&R licensee purchases must conform to the BATF C&R requirements. o Class 3 weapons processing depends on if the purchaser is a dealer or an individual  Dealers: Need a copy of FFL and SOT license. Estimated time for processing and approval of the required Form 3 is two months.  Individuals: Law requires a completed Form 4. DMA will assist in preparing and getting steps done, includes fingerprint, photo, and a fee of $200. Estimated time for processing and approval of Form 4 is 6-8 months. • Shipping o Non-Residents of Pennsylvania may not pickup modern handguns. Any firearms shipped are legally required to be shipped to an ATF licensed FFL dealer within your state of residence for transfer and pickup. You will be responsible for all shipping and transfer costs incurred. o Modern handguns are required to be shipped via Priority Overnight. o Modern long guns are shipped via ground to the FFL dealer. o Upon paying for the firearm you can contact a licensed dealer to send their FFL to firearms@morphyauctions.com with the paid invoice number notated. o DMA will not be responsible for exporting modern firearms or any ammunition. Buyer will need to locate a US dealer that can export these items to their country. • Long guns will only be sold to persons 18 years of age, or older. Handguns will only be sold to those persons 21 years of age, or older. Dealers are bound by these minimum age requirements. • Since all firearms sold are “collectible” items, DMA does not test the safety or warrant functionality of these firearms. All firearm purchases should be examined by a certified gunsmith prior to shooting. • DMA reserves the right to deny the sale of a firearm to any buyer. GAMING DEVICES – DMA may hold these items for up to 5 business days to allow state agencies to verify the purchaser’s information. All auction participants are urged to check the legality of possession in and/or shipment of gaming devices to their state of residence. Ownership of gaming devices is prohibited in these states: Alabama, Connecticut, Hawaii, Indiana, Nebraska, South Carolina, and Tennessee. If you become a high bidder on a gaming item, and you are from one of the prohibited states as listed here: • You must pay for your item, • You will not be able to take possession of the item (DMA cannot ship it to you or allow pickup), • DMA will consign the item in your name to the next appropriate auction. If you do not pay for the item in full, DMA will block you from participating in future auctions. Any gaming device purchased at the auction shall be used for the purpose of display or social entertainment within the private home or residence of the buyer, and such devices shall not, in any event or manner, be exposed to the public for the purpose of gambling or be resold in the state of Nevada without a gaming distribution license. Proof of residence/ID is required for purchase of gaming devices. FIREWORKS – DMA can only ship Class 1 Division 1.4 and 1.6 Explosives (as described in the following website: http://environmentalchemistry.com/yogi/hazmat/placards/class1.html) per the 49CFR 173.50 and can only ship these via FedEx. All items not shippable must be picked up by the buyer. GOODS MADE FROM OR CONTAINING MATERIALS FROM PROTECTED SPECIES - DMA does not accept any responsibility or liability for the sale of items containing materials from protected species or for any omission in marking or labeling goods as containing materials from protected species. Such material includes, but is not limited to, ivory from elephants and walruses, tortoise shell, crocodile skin, whalebone, rhinoceros horn, some species of coral and certain woods. Restrictions on the importation, exportation, sale, transfer, and/or possession of goods containing materials from protected species derive from international, federal, and state laws and regulations promulgated thereunder. Laws include, but are not limited to, the Convention on International Trade in Endangered Species of Flora and Fauna (CITES), the Endangered Species Act (ESA) and the Marine Mammals Protection Act (MMPA). States currently restricting trade of protected species include, but are not limited to, California, New York and New Jersey. Prospective purchasers are on notice that several countries completely prohibit importation of property made, all or in part, of protected materials. Some countries require special permits, such as a CITES permit, from the relevant regulating authority in the countries of exportation and importation as well. Potential purchasers intending to import the property into another country should be familiar with the relevant customs laws and regulations prior to bidding on goods containing material from protected species. Regulations may vary as the U.S. generally prohibits importation of articles containing material(s) from species it has designated endangered or threatened if the articles are less than 100 years old, subject to certain exceptions. It shall be the potential purchaser's sole responsibility to research and satisfy the requirements of any laws and regulations that apply to the import and export of property as described in the aforementioned paragraphs. All purchasers agree to comply with any and all domestic and international restrictions on the trade of protected species as a condition of the sale. Please note that the ability to obtain an export license or certificate does not ensure the ability to obtain an import license or certificate in another country, and vice versa. It is the purchaser’s responsibility to obtain any export or import licenses and/or certificates as well as any other required documentation. DMA is not able to assist the purchaser in attempting to obtain the appropriate licenses and/or certificates, and there is no assurance that an export license or certificate can be obtained. The inability or delay in obtaining permits, licenses or other permissions to import or export goods containing material from protected species will not constitute a basis for rescission or cancellation of the sale of said goods or the delay in payment of purchased items in accordance with these Bidder Terms and Conditions. Grading Scale: Near Mint Plus 97% - 100% Near Mint 90% - 96% Excellent 80% - 89% Very Good 70% - 79% Good Below 70% BIDDING RIGHTS & RESPONSIBILITIES The auctioneer will determine the highest bidder. The auctioneer alone has the right to reopen the bidding of an item if deemed necessary due to a dispute. If there is a tie bid between the floor and Internet or absentee bid, the floor bid takes precedence. DMA and its representatives reserve the right to remove those attendees who impede preview and/or the auction. Title to all merchandise shall pass to the highest bidder at the fall of the auctioneer’s hammer. The buyer will then assume all risk and full responsibility of the lot purchased once ownership has changed. We recommend that you arrange insurance for your items immediately upon becoming the highest bidder. DMA is not responsible for any errors in bids, omissions of bids, or failure to execute bids and shall have no liability to any bidder for any technical or other failure associated with the internet, absentee bidding, or telephone bidding. • ABSENTEE BIDDING - DMA will accept absentee bids if pre-authorized by mail, fax or through www.morphyauctions.com online. Absentee bidders must use the absentee bid form and clearly mark the lot number, title and maximum bid amount. Absentee bidding forms may be accessed online at www.morphyauctions.com. If there are two (2) identical bids placed on the same item, priority will be given to the first bid received. All bids must be left in increments as explained on our bid form. If a bid is “out of increment,” the auctioneer has the right to round the bid up to the next correct increment. Bidders may preview, register and place bids online through our website, www.morphyauctions.com. Absentee and online bids placed through www.morphyauctions.com will be auto charged to the credit card entered 48 hours after the end of the sale. If you wish to pay by another method please contact us within 48 hours after the sale. Seller(s) agree to allow the Auctioneer to accept and execute absentee bids in a competitive manner for potential buyers and under the Morphy Auctions absentee bidding terms and conditions. During the live sale, the auctioneer will execute your absentee bid competitively up to the maximum amount you have indicated. • ONLINE BIDDING - Online bidding through www.morphyauctions.com, Live Auctioneers, Invaluable, Proxibid, or other bidding platforms may be available; all Terms and Conditions still apply. If there is a tie bid between the internet bidding venues and the floor, the floor bid takes precedence. If a credit card has been provided to one of the online bidding platforms, DMA reserves the right to use and charge the credit card if the winning bidder has not paid via another method by the 7 day term in Payment Terms below. Due to our fast paced auctions and bids coming from floor bidders, phone bidders, internet bidders and absentee bids, the auctioneer has the final word on all item(s) sold. You (the bidder) assume the risk of winning an item online and not having the item actually sell to you. This is due to the final call of the auctioneer and the operator not being able to re-open that lot. • BID RESULTS – DMA will only contact successful bidders. Please allow 24-48 hours post auction to receive your official invoice from Morphy Auctions. The invoice will include item, hammer price, premium, packing and handling, shipping, insurance, and any other charges that apply. Please hold phone inquiries regarding bid success until after receiving your invoice. For verifications, DMA cannot provide winning bid information until the second business day after the auction. DMA will not provide bidder information to any outside sources. • TELEPHONE BIDDING - Requests for phone lines must be received at least three (3) days prior to the auction date. DMA cannot guarantee phone lines but will make every attempt to accommodate those who wish to participate through that method. Phone lines are provided on a first come first served basis. Please visit www.morphyauctions.com or call 717-335-3435 to request a call from our representatives during the live auction. BID INCREMENTS Bid increments listed are a general guideline. Actual increments are at the auctioneer’s discretion. If a lot does not receive a bid of 25% of the low estimate, the lot will be passed by the auctioneer. $0 - $500…$25 $500 - $1,000…$50 $1,000 - $2,000…$100 $2,000 - $5,000…$250 $5,000 - $10,000…$500 $10,000 +… Auctioneer’s discretion RESERVES The majority of our items are unreserved, but occasionally items may carry a moderate reserve. Please note that when a lot carries a reserve, the reserve is usually somewhere below our low estimate. In the case of a reserved item, the seller has authorized the auctioneer to bid on their behalf until the reserve price is reached. BUYER’S PREMIUM A 22% buyer’s premium will be added to all successful bids and is payable by the purchaser as part of the total purchase cost. If payment by cash, check, money order or wire transfer is made within 7 days of the sale a 2% discount may be taken on the Hammer price by the buyer. DISCOUNT IS ONLY AVAILABLE IF INVOICE IS PAID WITHIN 7 DAYS from the sale date. Split payments are subject to a 22% buyer’s premium if a credit card is used as any form of total payment. SALES TAX Lots delivered to you, or your representative are subject to all applicable state and local taxes, unless appropriate permits are on file with DMA. Bidder agrees to pay DMA the actual amount of tax due in the event that sales tax is not properly collected due to: 1) an expired, inaccurate, or inappropriate tax certificate or declaration, 2) an incorrect interpretation of the applicable statute, 3) or any other reason. The appropriate form or certificate must be on file at and verified by DMA five days prior to Auction, or tax must be paid; only if such form or certificate is received by DMA within 4 days after the Auction can a refund of tax paid be made. Lots from different auctions may not be aggregated for sales tax purposes. PAYMENT All merchandise must be paid in full within seven (7) days of the date of the sale. If payment by cash, check, money order or wire transfer is made within 7 days of the sale, a 2% discount on the Hammer price may be taken by the buyer. DISCOUNT IS ONLY AVAILABLE IF INVOICE IS PAID WITHIN 7 DAYS from the sale date. Split payments are subject to a 22% buyer’s premium if a credit card is used as any form of total payment. Purchases totaling $100,000 or more must be paid within three (3) days of the date of the sale. Call 717-335-3435 to pay your invoice by phone or mail payment to: Dan Morphy Auctions LLC - 2000 N Reading Rd., Denver, PA 17517 Absentee bids placed through www.morphyauctions.com and Proxibid.com will be auto charged to the credit card entered 48 hours after the end of the sale. If you wish to pay by another method please contact us within 48 hours after the sale. We accept Visa, MasterCard, Discover, American Express, personal checks/ certified checks, wire transfers, money orders, and cash. • CREDIT CARD - For first time buyers and credit card charges greater than $2,500.00 buyers must complete the bottom portion of the invoice and must specifically sign the acknowledgement of our terms of sale before we will accept payment via credit card. We do offer the convenience of paying automatically by credit card. If you wish have your card automatically charged for all purchases please complete our “Authorization for Automatic Credit Card Use.” We have this form available online or upon request. Split payments are subject to a 22% buyer’s premium if a credit card is used as any form of total payment. • CHECK - There will be a $30.00 service charge for returned checks. Make checks payable to: Dan Morphy Auctions LLC. DMA reserves the right to hold items paid for by personal or company check until said check clears (14 days). DMA has the right to hold all checks over $2,000.00. Customers who have an established successful buying history with DMA may be exempt from this. We will accept a personal or company check >$2,000 and/or from a first time buyer if you provide a Bank Letter of Credit, available on our website, www.morphyauctions.com. • WIRE TRANSFERS – There will be a $30.00 charge added to all wire transfers less than $2,000.00. Please add this amount to your invoice total before sending a wire transfer. In the few situations where a successful bidder does not remit payment when due, DMA will proceed with the legal steps necessary to protect its interests and will block the bidder from future auction participation. PACKING/SHIPPING • It is the bidder’s responsibility to take shipping and handlings & insurance costs into consideration when bidding on items. • BIDDERS PRESENT AND TAKING ITEMS AFTER AUCTION – Since item liability transfers upon a successful bid, items paid for must be packed, transported and/or removed by the purchaser at his/her own risk after the close of the sale. We recommend that you arrange insurance for your items immediately upon becoming the highest bidder. If any employee or agent of DMA shall pack or transport the merchandise, it is fully at the risk and responsibility and expense of the purchaser. DMA shall not be held liable for any loss or damage that may be caused by the said agent or employee. • ITEMS NOT PICKED UP THE DAY OF THE SALE – Packaging, shipping, and insurance on items will be made available as an added courtesy and cost. We recommend that you arrange insurance for your items immediately upon becoming the highest bidder. Again, if any employee or agent of DMA shall pack or transport the merchandise, it is fully at the risk and responsibility and expense of the purchaser. DMA shall not be held liable for any loss or damage that may be caused by the said agent or employee. All applicable charges will be applied. Shipping will be based on actual costs via FedEx, FedEx Freight, or USPS (best way). Handling and insurance will vary in cost depending on each invoice. All packages will be shipped with insurance. Items will ship seven to fourteen (7-14) business days after payment is received. • INSURANCE - Shipping insurance is automatically added up to $1,000 for every package. If your package is valued at >$10,000 we will also automatically add "Additional Insurance", which you can decline by contacting us. If you wish to arrange for "Additional Insurance" for packages valued between $1,000 and $10,000 please contact us prior to payment and we can quote this additional insurance amount for you. Insurance for all 3rd party shipments must be arranged through that carrier. • INTERNATIONAL SHIPMENTS – DMA has the capability to ship to international bidders. By law, DMA cannot, and will not, declare lesser values for any international purchases and all shipments will include the invoice with purchase totals including the buyer’s premium and shipping cost. All international bidders are responsible for knowing their country’s laws on importing items and for paying all customs and duties on the items. • 3RD PARTY SHIPPING of Large Items – Bidders MUST arrange and pay for 3rd party shipping when packages are a certain weight, length, or dimensional size. o Dimensional size is length (the longest measurement) + (height x 2) + (width x 2). For example a 36” x 36” x 12” package = 36 + (36 x2) + (12 x 2) = 132” o USA home shipments must be <70 lbs. and <108” length and <165” dimensional size o USA business shipments must be <150 lbs. and <108” length and <165” dimensional size o International shipments must be <150 lbs. and <108” length and <130” dimensional size o There may be certain shipments that meet these requirements that will still require 3rd party shipping, and we will communicate the reason in those cases. • For any buyers who wish to arrange, or must arrange due to the size of the item, for their own shipping, DMA must be notified at least seven (7) days prior of shipping company name and arrival date and time. Pickup must be scheduled to begin and end within our normal business hours (9am – 4pm, seven days a week). Buyers must arrange weekend pickups in advance with DMA staff, and additional charges may be necessary for overtime. 3rd party shipper must arrive with a copy of the invoice • STORAGE FEE – DMA will charge a storage fee of $50/week for any items awaiting pickup for more than 14 days. • MORPHY AUCTIONS, LAS VEGAS LOCATION SPECIAL COURTESY – Items purchased at our Las Vegas location may qualify for free shipment on our freight truck to Denver, PA. To be considered for shipping, all item invoices must be paid in full by day 7 after the auction, or they will not be shipped on the truck and shipping charges will then apply. Items will leave Las Vegas approximately 14 days after the auction date. Upon arrival in Denver, PA the buyer must pick items up within 14 days, or a $50/week storage fee will apply. Buyers will be contacted by phone or email when items arrive in Denver, PA. It is the buyer’s responsibility to pick the items up here. For packages to qualify for courtesy shipping, at least one piece or all pieces together in a package, must have a dimensional size of more than 130sq inches. Dimensional size is length (the longest measurement) + (height x 2) + (width x 2). For example, a 36” x 36” x 12” package = 36 + (36 x2) + (12 x 2) = 132. • FIREWORKS – DMA can only ship Class 1 Division 1.4 and 1.6 Explosives (as described in the following website: http://environmentalchemistry.com/yogi/hazmat/placards/class1.html) per the 49CFR 173.50 and can only ship these via FedEx. All items not shippable must be picked up by the buyer. APPLICABLE LAW These terms and conditions shall be governed by the laws of the Commonwealth of Pennsylvania. Each of the parties hereto hereby submits to the federal or state courts located in Lancaster County, Pennsylvania, for the exclusive jurisdiction of any disputes in connection with these terms and conditions. BINDING ARBITRATION Any dispute under the terms and conditions shall be resolved, and any relief sought (including equitable relief) may be granted, by binding arbitration in accordance with the rules of the American Arbitration Association. Each party will bear one-half of the cost of the arbitrator’s fee. A prevailing party is entitled to recover its attorney’s fees, costs and expenses. POST-SALE RETURN POLICY DMA hires knowledgeable experts to provide catalog descriptions on the merchandise we sell. Every effort is made to ensure those descriptions are accurate and that they fully disclose any exceptions to condition. Any buyer who has made their payment within the due date of 7 days who wishes to report a problem must notify DMA within three (3) days of receipt of their purchased item. Buyers who have not made their payment within the due date of 7 days may not return any items under any circumstances after 35 days of the auction. No lots purchased by floor bidders (including those bidders acting as agents for others) may be returned. A Return Authorization Number (RA#) must be issued by DMA before you ship anything back to our address. Any items arriving without a return authorization will not be given a refund. The item in question must be shipped with the RA# on the outside and inside of the package, with full insurance, so it arrives at DMA within one week of the aforementioned authorization. All rights reserved. Entire contents copyright 2015, Dan Morphy Auctions LLC. Copyright includes, but is not limited to, print media, microform and electronic media, such as CD-ROMS and online computer services.