Fine Jewelry - Liquidation

Conditions of Sale ANYONE EITHER REGISTERING TO BID OR PLACING A BID ("BIDDER") ACCEPTS THESE CONDITIONS OF SALE AND ENTERS INTO A LEGALLY, BINDING, ENFORCEABLE AGREEMENT WITH IDAMIL, LLC ("IDAMIL", TOGETHER WITH BIDDER, THE "PARTIES"). The following terms and conditions ("Conditions of Sale") constitute the sole terms and conditions under which IdaMil will offer for sale and sell the property described in the catalog of items for auction (the "Catalog"). These Conditions of Sale constitute a binding agreement between the Parties with respect to the auction in which Bidder participates (the "Auction"). By bidding at the Auction, whether in person, through an agent or representative, by telephone, facsimile, online, absentee bid, or by any other form of bid or by any other means, Bidder acknowledges the thorough reading and understanding of all of these Conditions of Sale, all descriptions of items in the Catalog, and all matters incorporated herein by reference, and agrees to be fully bound thereby. This acknowledgement is a material term of these Conditions of Sale and of the consideration under which IdaMil agrees to these terms. IdaMil and Auction: This Auction is presented by IdaMil, a d/b/a/ of IdaMil, LLC, as identified with the applicable licensing information on the title page of the Catalog. The Auction is conducted under these Conditions of Sale. Bidder: Bidder shall mean the original Bidder on the property offered for sale by IdaMil and not any subsequent owner or other person who may acquire or have acquired an interest therein. If Bidder is an agent, the agency must be disclosed in writing to IdaMil prior to the time of sale, otherwise the benefits of the warranty shall be limited to the agent and not transferable to the undisclosed principal. The rights granted to Bidder under these Conditions of Sale are personal and may not be assigned or transferred to any other person or entity, whether by operation of law or otherwise without the express written assent of IdaMil. Bidder may not transfer, assign, or otherwise convey these Conditions of Sale or any of the rights herein, and such purported transfer, assignment, or conveyance shall be null and void. No third party may rely on any benefit or right conferred on any Bidder by these Conditions of Sale, and no third party is intended as a beneficiary of these Conditions of Sale. Bids will not be accepted from minor persons under eighteen (18) years of age without a parent's written consent containing an acknowledgment of the Conditions of Sale herein and indicating their agreement to be bound thereby on behalf of the Bidder. All Bidders must meet IdaMil's qualifications to bid. Any Bidder who is not a client in good standing of IdaMil may be disqualified at IdaMil's sole option and will not be awarded lots. Such determination may be made by IdaMil in its sole and unlimited discretion, at any time prior to, during, or even after the close of the Auction. IdaMil reserves the right to exclude any person from the Auction. If an entity places a bid, then the person executing the bid on behalf of the entity agrees to personally guarantee payment for any successful bid. By accepting the Conditions of Sale, Bidder personally and unconditionally guarantees payment. Credit: In order to place bids, Bidders who have not established credit with IdaMil must either furnish satisfactory credit information (including two collectibles-related business references) or supply additional information if requested, well in advance of the Auction. Credit will be granted at the discretion of IdaMil. Additionally, Bidders who have not previously established credit or who wish to bid in excess of their established credit history may be required to provide their social security number, or the last four digits thereof, so a credit check may be performed prior to IdaMil's acceptance of a bid. Check writing privileges and immediate delivery of merchandise may also be determined by pre-approval of credit based on a combination of criteria: IdaMil auction history, related industry references, bank verification, a credit bureau report and/or a personal guarantee for a corporate or partnership entity in advance of the Auction venue. Buyer's Premium: The Bidder acknowledges and agrees that a 22.5% buyer's premium will be added to the hammer price on all individual lots sold in timed Auctions (the "Buyer's Timed Premium"), and a 25% buyer's premium will be added to the hammer price on live Auctions (the "Buyer's Live Premium, together with the Buyer's Timed Premium, the "Buyer's Premium"). For payment other than by cash, delivery will not be made unless and until full payment has been received by IdaMil, i.e., check or wired funds have fully cleared. Unless otherwise agreed in writing, signed by IdaMil, payment in full is due within thirteen (13) calendar days of the Auction or within twelve (12) calendar days of the invoice date, whichever is later. All purchases delivered to Idaho are subject to applicable Idaho sales tax unless the purchaser possesses a Idaho sales tax exemption number. Bidding: Each Bidder's determination of its bid should be based upon its own examination of the item(s), rather than the strict reliance as to what is represented in the Catalog, online or elsewhere. In any purchase or sale, the value of the item(s) is determined by the price. THE BIDDER HEREBY ASSUMES ALL RISKS OF VALUATION CONCERNING ANY AND ALL PURCHASES. IDAMIL IS NOT RESPONSIBLE FOR ERRORS IN BIDDING. A Bidder should make certain to bid on the correct lot and that the bid is the maximum (plus the Buyer?s Premium) that the Bidder is willing and able to pay. Since other Bidders (by mail, facsimile, online, and in person) will be present, and since a re-offering could damage the momentum of the sale, once the hammer has fallen and IdaMil has announced the winning Bidder, such Bidder is unconditionally bound to pay for the lot, even if the Bidder has made a mistake. All prospective Bidders who examine lots in person prior to the sale shall personally assume all responsibility for any damage they cause in so doing. IdaMil shall have sole discretion in determining the value of the damage caused, which shall be promptly paid by the prospective Bidder. Title to any lot remains with Consignor, any secured party of the Consignor, or assignee of Consignor, as the case may be, until the lot is paid for in full by Bidder. IdaMil reserves the right to require payment in full before delivering any lot to the successful Bidder. It is the Bidder's responsibility and obligation to have the lots fully insured while in their possession. Bidder assumes any and all RISK OF LOSS once the lot(s) is in Bidder's possession. Bidder grants to IdaMil or its assigns the right to offset any sums due, or found to be due by IdaMil, and to make such offset from any past, subsequent or future consignment, or items acquired by Bidder in possession or control of IdaMil or from any sums due to Bidder by IdaMil. Bidder further grants IdaMil a purchase money security interest in such sums or items to the extent applicable, and agrees to execute such documents as may be reasonably necessary to grant IdaMil such security interest. Bidder agrees that IdaMil and its assigns shall be a secured party with respect to items bought by Bidder and in the possession of IdaMil, to the extent of the maximum indebtedness, plus all accrued expenses, until the indebtedness is paid. By bidding in this sale, Bidder personally and unconditionally guarantees payment. The authorized representative of any corporate Bidder who is present at the sale shall provide IdaMil or its agent, prior to the commencement of the bidding (or at the time of registration), with a statement signed by a principal, director or officer that they he or she personally and unconditionally guarantees any payment due IdaMil. IdaMil may, at its sole and absolute discretion, make loans or advances to Consignors and/or prospective Bidders. In the event of a successful challenge to the title to any goods purchased pursuant to these Conditions of Sale and the exclusive remedies provided herein, IdaMil agrees to reimburse any Bidder in an amount equal to the successful bid price actually paid by Bidder at auction plus any Buyer's Premium actually paid, in full and complete satisfaction of all claims, which once tendered by IdaMil, relieves and releases IdaMil from any responsibility whatsoever to the Bidder, even if the instrument is not cashed or is returned. Bidding Options: Non-Internet bids (including but not limited to in-person, facsimile, phone and mail bids) are treated similarly to floor bids in that they must be on-increment. Any in-person, facsimile, phone, or mail bids that do not conform to a full increment will be rounded up or down to the nearest full increment and this revised amount will be considered Bidder?s high bid. When identical mail or facsimile bids are submitted, preference is given to the first received. To ensure the greatest accuracy, written bids should be entered on the standard printed bid sheet and be received at IdaMil's place of business at least twenty-four (24) hours before the Auction start. IdaMil is not responsible for executing mail bids or facsimile bids received on or after the day the first lot is sold, nor Internet bids submitted after the published closing time; nor is IdaMil responsible for proper execution of bids submitted by telephone, mail, facsimile, e-mail, Internet, or in person once the Auction begins. In all Auctions, bids on an item must raise the current high bid by at least 10%, or as specified on a per-Auction basis. Bids will be accepted in whole dollar amounts only. No "buy" or "unlimited" bids will be accepted. In a live sale, bids on an item can change at the discretion of IdaMil. IdaMil reserves the right to accept or decline any bid. Bids must be for an entire lot and each lot constitutes a separate sale. All bids are per lot unless otherwise announced. Live auction lots will be sold in their numbered sequence unless IdaMil directs otherwise. It is unlawful and illegal for Bidders to collude, pool, or agree with another Bidder to pay less than the fair value for lot(s). For live auctions, IdaMil will have final discretion in the event that any dispute should arise between Bidders. IdaMil will determine the successful Bidder, cancel the sale,or re-offer and resell the lot or lots in dispute. IdaMil will have final discretion to resolve any disputes arising after the sale and in online auctions. If any dispute arises, IdaMil?s sale record is conclusive. Payment: Subject to fulfillment of all of the Conditions of Sale set forth herein, upon the sooner of (1) the passing of title to the offered lot pursuant to these Conditions of Sale, or (2) possession of the offered lot by the Bidder, Bidder thereupon (a) assumes full risk and responsibility (including without limitation, liability for or damage to frames or glass covering prints, paintings, photos, or other works), and (b) will immediately pay the full purchase price or such part as IdaMil may require. In addition to other remedies available to IdaMil by law, IdaMil reserves the right to impose from the date of sale a late charge of 1.5% per month of the total purchase price if payment is not made in accordance with the conditions set forth herein. All property must be removed from IdaMil's premises by the Bidder at his/her expense not later than thirty (30) business days following its sale and, if it is not so removed, IdaMil may send the purchased property to a public warehouse for the account, at the risk and expense of the Bidder. Payment is due upon closing of the Auction session, or upon presentment of an invoice. IdaMil reserves the right to void an invoice if payment in full is not received within thirteen (13) calendar days of the Auction or within twelve (12) calendar days of the invoice date. In cases of nonpayment, IdaMil's election to void a sale does not relieve the Bidder from their obligation to pay IdaMil its fees (seller's and Buyer's Premium) on the lot and any other damages pertaining to the lot. All sales are strictly for cash in United States dollars (including U.S. currency, bank wire, cashier checks, eChecks, and bank money orders), and are subject to all reporting requirements. All deliveries are subject to good funds; funds being received in IdaMil's account before delivery of the Purchases; and all payments are subject to a clearing period. IdaMil reserves the right to determine if a check constitutes "good funds": checks drawn on a U.S. bank are subject to a ten (10) calendar day hold, and ten (10) business days when drawn on an international bank. Clients with pre-arranged credit status may receive immediate credit for payments via e-Check, personal or corporate checks. In the event that a Bidder's payment is dishonored upon presentment(s), Bidder shall pay the maximum statutory processing fee set by applicable state law. If Bidder attempts to pay via check and the financial institution denies the transfer from Bidder's bank account, or the payment cannot be completed using the selected funding source, Bidder agrees to complete payment. If IdaMil refers any invoice to an attorney for collection, the Bidder agrees to pay attorney's fees, court costs, and other collection costs incurred by IdaMil. If IdaMil assigns collection to its house counsel, such attorney's time expended on the matter shall be compensated at a rate comparable to the hourly rate of independent attorneys. IdaMil shall have a lien against the merchandise purchased by the Bidder to secure payment of the Auction invoice. IdaMil is further granted a lien and the right to retain possession of any other property of the Bidder then held by IdaMil or its affiliates to secure payment of any Auction invoice or any other amounts due IdaMil or affiliates from the Bidder. With respect to these lien rights, IdaMil shall have all the rights of a secured creditor, including but not limited to the right of sale. In addition, with respect to payment of the Auction invoice(s), the Bidder waives any and all rights of offset he might otherwise have against IdaMil and the consignor of the merchandise included on the invoice (the "Consignor?). If a Bidder owes IdaMil or its affiliates on any account, IdaMil and its affiliates shall have the right to offset such unpaid account by any credit balance due Bidder, and it may secure by possessory lien any unpaid amount by any of the Bidder's property in their possession. All checks, cashiers checks, bank checks, or money orders are payable to IdaMil, LLC. Delivery; Shipping; and Handling Charges: Bidder is liable for shipping and handling. IdaMil is unable to combine purchases from other auctions or affiliates into one package for shipping purposes. Lots won will be shipped in a commercially reasonable time after payment in good funds for the merchandise and the shipping fees are received or credit extended, except when third-party shipment occurs. Bidder agrees that service and handling charges related to shipping items which are not pre-paid may be charged to a credit card on file with IdaMil. Successful international Bidders shall provide written shipping instructions, including specified Customs declarations, to IdaMil for any lots to be delivered outside of the United States. NOTE: Declaration value shall be the item'(s) hammer price and IdaMil shall use the correct harmonized code for the lot. Domestic Bidders on lots designated for third-party shipment must designate the common carrier, accept risk of loss, and prepay shipping costs. Title: Title shall not pass to the successful Bidder until all invoices are paid in full. It is the responsibility of the Bidder to provide adequate insurance coverage for the items once they have been delivered to a common carrier or third-party shipper. Rights Reserved: IdaMil reserves the right to withdraw any lot before or at the time of the Auction, and/or to postpone the Auction of all or any lots or parts thereof, for any reason. IdaMil shall not be liable to any Bidder in the event of such withdrawal or postponement under any circumstances. IdaMil reserves the right to refuse to accept bids from anyone. Conducting the Auction: IdaMil reserves the right to postpone the Auction or any session thereof for a reasonable period of time for any reason whatsoever, and no Bidder or prospective Bidder shall have any claim as a result thereof, including consequential damages. IdaMil's Discretion: IdaMil shall determine opening bids and bidding increments. IdaMil has the right in its absolute discretion to reject any bid in the event of dispute between Bidders or if IdaMil has doubt as to the validity of any bid, to advance the bidding at its absolute discretion and to determine the successful Bidder in the event of a dispute between Bidders, to continue the bidding or to reoffer and resell the lot in question. In the event of a dispute after the sale, IdaMil 's record of final sale shall be conclusive. IdaMil also may reject any bid if IdaMil decides either that any bid is below the reserve of the lot or article or that an advance is insufficient. Unless otherwise announced by IdaMil at the time of sale, no lots may be divided for the purpose of sale. Reserves: Lots may be subject to a reserve which is the confidential minimum price below which the lot will not be sold. Consignors may not bid on their own lots or property. IdaMil may, from time to time, bid on items that it does not own. Off-Site Bidding: Bidding by telephone, facsimile, online, or absentee bidding (advance written bids submitted by mail) are offered solely as a convenience and permitted subject to advance arrangements, availability, and IdaMil 's approval which shall be exercised at IdaMil 's sole discretion. Neither IdaMil nor its agents or employees shall be held liable for the failure to execute bids or for errors relating to any transmission or execution thereof. In order to be considered for off-site bidding in any manner, Bidders must comply with all of these Conditions of Sale and the terms contained on the Registration Form. IdaMil's Remedies: Failure of the Bidder to comply with any of these Conditions of Sale or the terms of the Registration Form is an event of default. In such event, IdaMil may, in addition to any other available remedies specifically including the right to hold the defaulting Bidder liable for the Purchase Price or to charge and collect from the defaulting Bidder?s credit or debit accounts as provided for elsewhere herein: (a) cancel the sale, retaining any payment made by the Bidder as damages (the Bidder understands and acknowledges that IdaMil will be substantially damaged should such default occur, and that damages under sub-part (a) are necessary to compensate IdaMil for such damages); (b) resell the property without reserve at public auction or privately; (c) charge the Bidder interest on the Purchase Price at the rate of one and one-half percent (1.5%) per month or the highest allowable interest rate; (d) take any other action that IdaMil, in its sole discretion, deems necessary or appropriate to preserve and protect IdaMil?s rights and remedies. Should IdaMil resell the property, the original defaulting Bidder shall be liable for the payment of any deficiency in the purchase price and all costs and expenses associated there with, including but not limited to warehousing, sales-related expenses, reasonable attorney fees and court costs, commissions, incidental damages and any other charges due hereunder which were not collected or collectable. In the event that such Bidder is the successful Bidder on more than one lot and pays less than the purchase price for the total lots purchased, IdaMil shall apply the payment received to such lot or lots that IdaMil, in its sole discretion, deems appropriate. If IdaMil does not exercise such discretion, the lots to which the payment shall be applied will be in descending order from the highest purchase price to the lowest. Any Bidder failing to comply with these Conditions of Sale shall be deemed to have granted IdaMil a security interest in, and IdaMil may retain as collateral such security for such Bidder's obligations to IdaMil, any property in IdaMil?s possession owned by such Bidder. IdaMil shall have the benefit of all rights of a secured party under the Uniform Commercial Code (U.C.C.) as adopted by the State of Idaho. Warranties: IdaMil does not provide any warranties to Bidders, whether expressed or implied, beyond those expressly provided in these Conditions of Sale. All property and lots are sold "as is" and "where is". By way of illustration rather than limitation, neither IdaMil nor the Consignor makes any representation or warranty, expressed or implied, as to merchantability or fitness for intended use, condition of the property (including any condition report), correctness of description, origin, measurement, quality, rarity, importance, exhibition, relevance, attribution, source, provenance, date, authorship, condition, culture, genuineness, value, or period of the property. Additionally, neither IdaMil nor the Consignor makes any representation or warranty, expressed or implied, as to whether the Bidder acquires rights in copyright or other intellectual property (including exhibition or reproduction rights) or whether the property is subject to any limitations or other rights. IdaMil does not make any representation or warranty as to title. All descriptions, photographs, illustrations, and terminology including but not limited to words describing condition (including any condition reports requested by Bidder, see also Terminology), authorship, period, culture, source, origin, measurement, quality, rarity, provenance, importance, exhibition, and relevance, used in the Catalog, bill of sale, invoice, or anywhere else, represent a good faith effort made by IdaMil to fairly represent the lots and property offered for sale as to origin, date, condition, and other information contained therein; they are statements of opinion only. They are not representations or warranties and Bidder agrees and acknowledges that he or she shall not rely on them in determining whether or not to bid or for what price. Price estimates (which are determined well in advance of the Auction and are therefore subject to revision) and condition reports are provided solely as a convenience to Bidders and are not intended nor shall they be relied on by Bidders as statements, representations or warranties of actual value or predictions of final bid prices. Bidders are accorded the opportunity to inspect the lots and to otherwise satisfy themselves as to the nature and sufficiency of each lot prior to bidding, and IdaMil urges Bidders to avail themselves accordingly. All lots sold by IdaMil n are accompanied by an Auction Certificate ("AC?). On any lot presented with an AC issued by IdaMil, the certification is only as to its attribution to the person or entity described or to the lot's usage and only as explicitly stated therein (the "Certification of Authenticity?), to the exclusion of any other warranties, express or implied, including but not limited to those pursuant to the Uniform Commercial Code. The Certification of Authenticity inures only to the original Bidder (as shown in IdaMil 's records). Bidder may not transfer, assign, or otherwise convey the Certification of Authenticity, and such purported transfer, assignment, or conveyance shall be null and void. The Certification of Authenticity is valid from date of the Auction in which Bidder was awarded the lot (the "Auction Date?) until five (5) years after the Auction Date, without exception. FIREARMS. IdaMil complies with all Federal and State rules and regulations relating to the purchasing, registration and shipping of firearms. A Bidder is required to provide appropriate documents and the payment of associated fees, if any. Bidder is responsible for providing a shipping address that is suitable for the receipt of a firearm. Limitation of Damages: In the event that IdaMil is prevented for any reason from delivering any property to Bidder, or Bidder is otherwise dissatisfied with the performance of IdaMil, the liability, if any, of IdaMil, shall be limited to, and shall not exceed, the amount actually paid for the property by Bidder. In no event shall IdaMil be liable for incidental, special, indirect, exemplary or consequential damages of any kind, including but not limited to loss of profits, value of investment or opportunity cost. Unauthorized Statements: Under no circumstances is any employee, agent or representative of IdaMil authorized by IdaMil to modify, amend, waive or contradict any of these Conditions of Sale, any term or condition set forth on a registration form, any warranty or limitation or exclusion of warranty, any term or condition in either the Registration Form or these Terms and Conditions regarding payment requirements, including but not limited to due date, manner of payment, and what constitutes payment in full, or any other term or condition contained in any documents issued by IdaMil unless such modification, amendment, waiver or contradiction is contained in a writing signed by all parties. Any statements, oral or written, made by employees, agents or representatives of IdaMil to Bidder, including statements regarding specific lots, even if such employee, agent or representative represents that such statement is authorized, unless reduced to a writing signed by all parties, are statements of personal opinion only and are not binding on IdaMil, and under no circumstances shall be relied upon by Bidder as a statement, representation or warranty of IdaMil. Bidder?s Remedies: Under no circumstance will IdaMil incur liability to a Bidder in excess of the purchase price actually paid. This section sets forth the sole and exclusive remedies of Bidder in conformity with the Warranties and Limitation of Damages provisions of these Conditions of Sale, and is expressly in lieu of any other rights or remedies which might be available to Bidder by law. The Bidder hereby accepts the benefit of the Consignor's warranty of title and any other representations and warranties made by the Consignor for the Bidder's benefit. In the event that Bidder demonstrates in writing, in the sole discretion of IdaMil, that there was a breach of the Consignor's warranty of title concerning a lot purchased by Bidder, IdaMil shall make demand upon the Consignor to pay to Bidder the Purchase Price (including any premiums, taxes, or other amounts paid or due to IdaMil). Should the Consignor not pay the Purchase Price to Bidder within thirty days after such demand, IdaMil shall disclose the identity of the Consignor to Bidder and assign to Bidder all of IdaMil?s rights against the Consignor with respect to such lot or property. Upon such disclosure and assignment, all responsibility and liability, if any, of IdaMil with respect to said lot or property shall automatically terminate. IdaMil shall be entitled to retain the premiums and other amounts paid to IdaMil - this remedy is as to the Consignor only. The rights and remedies provided herein are for the original Bidder only and they may not be assigned or relied upon by any transferee or assignee under any circumstances. If Bidder wishes to challenge the AC within the period of the Certification of Authenticity, Bidder must present written evidence that the lot is not authentic as determined by a known expert in the field. If IdaMil agrees that the lot is not as represented, Bidder?s sole and exclusive remedy shall be a refund of their purchase price, with no other costs, liabilities or amounts recoverable. If IdaMil does not agree with the claim by Bidder, then the Parties shall follow the dispute resolution procedures of these Conditions of Sale. Any such challenge concerning an AC or Certification of Authenticity must, without any exception, be brought within one (1) year of Bidder?s notice to IdaMil of Bidder?s contention that the lot was not authentic, or six (6) years from the Auction Date, whichever is sooner. If the description of any lot in the Catalog is materially incorrect (e.g., gross cataloging error), the lot is returnable if returned within five (5) calendar days of receipt, and received by IdaMil no later than twenty-one (21) calendar days after the Auction Date. If there is any discrepancy between the description in the Catalog and the AC, then the description in the AC shall control. This paragraph shall constitute Bidder?s sole right with respect to the return of items, and no refunds shall be given for any items not returned to and received by IdaMil. NO RETURN OR REFUND OF ANY AUCTION LOT WILL BE CONSIDERED EXCEPT AS PROVIDED IN THESE CONDITIONS OF SALE. IdaMil?s Additional Services: For Bidders who do not remove purchased property from IdaMil?s premises, IdaMil, in its sole discretion and solely as a service and accommodation to Bidders, may arrange to have purchased lots packed, insured and forwarded at the sole request, expense, and risk of Bidder. IdaMil assumes no and disclaims all responsibility and liability for acts or omissions in such packing or shipping by IdaMil n or other packers and carriers, whether or not recommended by IdaMil. IdaMil assumes no and disclaims all responsibility and liability for damage to frames, glass or other breakable items. Where IdaMil arranges and bills for such services via invoice, IdaMil will include an administration charge. Headings: Headings are for convenience only and shall not be used to interpret the substantive sections to which they refer. Entire Agreement: These Conditions of Sale constitute the entire agreement between the parties together with the terms and conditions contained in the Registration Form. They may not be amended, modified or superseded except in a signed writing executed by all parties. No oral or written statement by anyone employed by IdaMil or acting as agent or representative of IdaMil may amend, modify, waive or supersede the terms herein unless such amendment, waiver or modification is contained in a writing signed by all parties. If any section of these Conditions of Sale or any term or provision of any section is held to be invalid, void, or unenforceable by any court of competent jurisdiction, the remaining sections or terms and provisions of a section shall continue in full force and effect without being impaired or invalidated in any way. Governing Law and Enforcement: The Parties agree that any agreements between the Parties including but not limited to these Conditions of Sale are entered into in Boise, Idaho, no matter where Bidder is situated and no matter by what means or where Bidder was informed of the Auction and regardless of whether catalogs, materials, or other communications were received by Bidder in another location. The Parties agree that these Conditions of Sale, and any other related agreement(s) are governed by the laws of the State f Idaho, without regard for its conflict of laws principles. The Parties agree that any dispute related to or arising out of these Conditions of Sale, or related to or arising out of any other related agreement(s) shall be submitted to confidential binding arbitration (the "Arbitration?) before a single Arbitrator of the American Arbitration Association (the "AAA?). The Parties agree that the Arbitration shall be conducted pursuant to the commercial rules of the AAA. In the event that the Parties cannot agree on the selection of the Arbitrator, then the Arbitrator shall be selected by the AAA. The prevailing Party in the Arbitration shall be entitled to recover all of its related costs, whether before or after the formal institution of the Arbitration, including but not limited to its reasonable attorneys? fees and, if IdaMil prevails, the Buyer?s Premium as defined in these Conditions of Sale. The Parties agree that Bidder shall have no right to recover consequential or indirect damages, or lost profits damages. The Parties consent to the enforcement of the decision in the Arbitration pursuant to the Federal Arbitration Act in either the courts of the State of Idaho or the United States District Court for the District of Idaho. Except as provided in Bidder's Remedies with regard to the Certification of Authenticity, any dispute, claim, cause of action related to or arising out of these Conditions of Sale or any other agreement(s) between the Parties must be brought within one (1) year of the acts, omissions or circumstances giving rise to the alleged claim, without exceptions. This provision is intended as a full, complete and absolute release of any claims after one (1) year of such acts, omissions or circumstances. The Parties agree further that these waiver provisions are intended to be binding on all parties in the event of any dispute, specifically including but not limited to third party claims and cross-actions brought by either IdaMil or Bidder. These provisions are consideration for the execution of these Conditions of Sale. The Bidder hereby agrees that IdaMil shall be entitled to present these Conditions of Sale to a court in any jurisdiction other than set forth in this paragraph as conclusive evidence of the Parties' agreement, and the Parties further agree that the court shall immediately dismiss any action filed in such jurisdiction. Notwithstanding the foregoing, IdaMil may, in its sole discretion, enforce its rights pursuant to these Conditions of Sale in the courts of the State of Idaho or the United States District Court for the District of Idaho rather than in an Arbitration related to or arising out of any Auction of an item sold for less than $10,000. This right shall relate to the individual item price, such that IdaMil may, in its sole discretion, enforce its rights pursuant to these Conditions of Sale in the courts of the State of Idaho or the United States District Court for the District of Idaho rather than in an Arbitration for items that in the aggregate exceed $10,000. The prevailing Party in such a proceeding shall be entitled to recover all of its related costs, whether before or after the formal institution of the proceeding, including but not limited to its reasonable attorneys? fees and, if IdaMil prevails, the Buyer?s Premium as defined in these Conditions of Sale. This right of enforcement is unique to IdaMil, and these Conditions of Sale are a waiver by the Bidder of any right to enforcement or adjudication outside of an Arbitration. CONDUCT OF AUCTION Estimate Prices: In addition to descriptive information, each item in the Catalog sometimes includes a price range which reflects opinion as to the price expected at auction (the "Estimate Prices?). In other instances, Estimate Prices can be obtained by calling IdaMil at (208) 297-8394. The Estimate Prices are based upon various factors including prices recently paid at auction for comparable property, condition, rarity, quality, history and provenance. Estimate Prices are prepared well in advance of the sale and subject to revision. Estimates do not include the Buyer?s Premium or sales tax (see under separate heading). Owned or Guaranteed Property: IdaMil generally offers property consigned by others for sale at public auction; in very limited occasion, lots are offered that are the property of IdaMil. Maximum Bids - All Auctions: To maximize Bidder's chance of winning, IdaMil strongly encourages the use of maximum bids. IdaMil will then bid for Bidder until the lot reaches Bidder?s specified maximum. Maximum bids are strictly confidential. Placing arbitrary, non-incremental bids on lots with prior maximum bids may result in these lots being sold for less than 10% above the under Bidder's bid. Successful Bids: The fall of IdaMil's hammer indicates the final bid. IdaMil will record the paddle number of the Bidder. If Bidder?s salesroom or absentee bid is successful, Bidder will be notified after the sale by mailed or emailed invoice. Unsold Lots: If a lot does not reach the reserve, it is bought-in. In other words, it remains unsold and is returned to the Consignor. IdaMil has the right to sell certain unsold items after the close of the Auction. Such lots shall be considered sold during the Auction and all these Terms and Conditions shall apply to such sales including but not limited to the Buyer's Premium, return rights, and disclaimers. Bidding - Timed Auction: Bidder may open, monitor, and/or raise bids at any time before the close of a lot. The auctioneer may also execute a bid on behalf of the consignor to protect the reserve, either by entering a bid in response to salesroom, telephone or absentee bids. Under no circumstances will the auctioneer place any bid on behalf of the consignor above the reserve. The auctioneer will not specifically identify bids placed on behalf of the consignor to protect the reserve. Bidding - Internet @ Live Auction: Bidder may open, monitor, and/or raise bids at any time before the close of a lot. Property is auctioned in consecutive numerical order, as it appears in the catalog. The auctioneer will accept bids from those present in the salesroom or absentee bidders participating by telephone, internet or by written bid left with IdaMil in advance of the auction. The auctioneer may also execute a bid on behalf of the consignor to protect the reserve, either by entering a bid in response to salesroom, telephone or absentee bids. Under no circumstances will the auctioneer place any bid on behalf of the consignor above the reserve. The auctioneer will not specifically identify bids placed on behalf of the consignor to protect the reserve. During live Auctions, internet bids can be placed in real time through one or more of the following Third Party services: www.liveauctioneers.com. IdaMil is not responsible or liable for any problems, delays, or any other issues or problems resulting out of use of the Internet generally or specifically, including but not limited to transmission, execution or processing of bids. IdaMil treats any third-party site bids as floor or telephone bids. Floor bids and telephone bids are always considered first over third party sites bids, and floor bids are considered earlier than telephone bids. All IdaMil lots purchased through the third party sites carry an additional Buyer?s Premium. Miscellaneous: Agreements between Bidders and Consignors to effectuate a non-sale of an item at Auction, inhibit bidding on a consigned item to enter into a private sale agreement for said item, or to utilize IdaMil's Auction to obtain sales for non-selling consigned items subsequent to the Auction, are strictly prohibited. If a subsequent sale of a previously consigned item occurs in violation of this provision, IdaMil reserves the right to charge Bidder the applicable Buyer's Premium and Consignor a Seller's Commission as determined for each auction venue and by the terms of the seller's agreement. Acceptance of these Terms and Conditions qualifies Bidder as a client who has consented to be contacted by IdaMil in the future. In conformity with "do-not-call" regulations promulgated by the Federal or State regulatory agencies, participation by the Bidder is affirmative consent to being contacted at the phone number shown in his application and this consent shall remain in effect until it is revoked in writing. IdaMil may from time to time contact Bidder concerning sale, purchase, and auction opportunities available. Rules of Construction: IdaMil presents properties in a number of collectible fields, and as such, specific venues have promulgated supplemental Terms and Conditions. Nothing herein shall be construed to waive the general Conditions of Sale by these additional rules and shall be construed to give force and effect to the rules in their entirety.