FINE & DECORATIVE ARTS & ANTIQUES AUCTION

LUPER AUCTION GALLERIES AUCTION 3267 LOCATION: 5902 Jefferson Davis Hwy, Woodford, VA 22580 BINDING TERMS & CONDITIONS OF SALE The Lots listed in this catalog, as amended by any posted notices or oral announcements prior to or during the Auction, is Luper Auction Galleries and the Consignor's entire agreement with the purchaser relative to the property herein. The following Terms & Conditions of Sale, Guide for Absentee Bidders, and Glossary contained herein are the complete and only terms and conditions on which all property is offered for sale. Luper Auctions Galleries, hereafter will be referred to as "Luper". 1. BINDING TERMS AND DISCLAIMER OF WARRANTIES The Consignor warrants good title to the purchaser. Luper acts only as agent for the consignor and makes no independent warrantee of title. All statements made by Luper, its agents and employees, whether written or oral, are statements of opinion only and not warranties or representations of fact. Oral and written representations as to the goods offered in the auction, including without limitation descriptions and attributions published in the catalogs, brochures, circulars, advertisements, and at the time of sale, do not constitute warranties or affirmations of fact in connection with the goods, shall not be relied upon by the purchaser, and do not constitute a part of the contract of sale. The statements are made solely for the purpose of identifying the goods to be auctioned. The information supplied by other sources believed to be reliable; however, Luper does not warrant the same in any respect to be correct. Luper believes many of the articles offered to be of fine quality, but urges bidders to inspect or have the articles inspected and to make their own determination as to the goods' authenticity, physical condition, quality, provenance, age, value, and other characteristics. Luper shall not be held responsible or liable for correctness of any representation as to any matter, including description, size, physical condition, rarity, importance, and provenance and no liability with respect thereto. 2. ALL PROPERTY SOLD "AS IS" All Property Is Sold "As Is - Where Is" and Luper Auction Galleries nor its Consignor Makes Any Express or Implied Warranties or Representations of Any Kind with Respect to the Property and in No Event Shall Luper or its Consignor Be Responsible For The Correctness of, or Be Deemed to Have Made Any Representation or Warrantee or Guarantee of Merchantability, Description, Genuineness, Attribution, Provenance, or Condition Concerning the Property. NOTE: Prospective Bidders should Inspect or Have the Property Inspected Before Bidding to Determine its Condition and Whether or Not it Has Been Repaired, Restored or Altered. If a Prospective Purchaser Has Not Examined the Property to His Own Satisfaction Before the Auction or had an Agent do so for Him, Luper Recommends That He Not Bid on the Property. 3. ESTIMATES Each lot in the catalogue is given a low and high estimate representing that range which, in the opinion of Luper, represents a fair and probable auction value. When possible, the estimate is based on previous auction records of comparable property, condition, rarity, quality and provenances. Pre-Sale Estimates are often determined several months before a sale and are therefore subject to change upon further research of the property, or to reflect market conditions or currency fluctuations. Pre-Sale Estimates are subject to revision. Actual prices realized for items can fall below or above this range. An Pre-Sale Estimate of the selling price should not be relied on as a statement that this is the price at which the item will sell or its value for any other purpose. Pre-Sale Estimates do not include the Buyer's Premium or any Taxes that may apply to that Lot. 4. RESERVES The purpose of this auction is to dispose of all properties which are being offered, however, there are items for which a reserve price, a confidential minimum price, has been set, below which a lot will not be sold. In the event that the high bid falls below the reserve price, the auctioneer reserves the right in his sole discretion to accept the bid, reject the bid, or re-offer that item at a price beginning at the reserve price or next preceding bid. If the auctioneer determines that any opening bid is not commensurate with the value of the article offered, he may reject the same and withdraw the article from the sale. If, having acknowledged an opening bid, he decides that any advance thereafter is not a sufficient increase, he may reject the advance. It is the Policy of Luper Auction that any Reserve Price is Below the Low Pre-Sale Estimate of that Lot. 5. BUYERS PREMIUM All Gallery Floor, Absentee and Phone Bidders will pay a Buyer?s Premium of 23% (Eighteen Percent) and said Buyer?s Premium shall be added to the Hammer Price to equal the Total Purchase Price of each Lot subject to any taxes, insurance, packaging or shipping that may be arranged. On-Line Bidding Services will be provided by ?LiveAuctioneers?,. Bidders through Approved Online Bidding Services will Pay a Buyer?s Premium of 23% that shall be added to the Hammer Price to equal the Total Purchase of each Lot. Payments are Accepted by Cash, (maximum of $9,000 per Buyer), Certified Funds, Pre-Approved Checks, or Wire Transfer will be allowed a 3% Cash Discount. 6. LOT QUANTITY All On-Line Lots are sold as a Group and not as individual items. If a lot is NOT On-line and is described as "EACH TIMES" the bids are for each item times the quantity listed. On Lots that are not On-Line, Auctioneer has the right and authority to determine at the time of sale whether the Lot is by the ?Group? or ?Times the Money?. 7. BIDDING Prior to the sale, the buyer must provide us with his or her name and permanent address and, if so requested, a copy of the Bidders Valid Drivers License and if Unknown to Luper required to issue details of the Credit Card or Bank from which Payment will be made. Luper reserves the right, at our complete discretion, to refuse admission to the premises or participation in any auction and to reject any bid, as well as the right to refuse to acknowledge any bidder. Although in our discretion we will execute orders or absentee bids or accept telephone bids as a convenience to clients who are not present at auctions, we are not responsible for any errors or omissions in connection therewith. When making a bid, a bidder is accepting personal liability to pay the purchase price as follows, unless it has been explicitly agreed in writing with Luper before the commencement of the sale that the bidder is acting as agent on behalf of an identified third party acceptable to Luper, and that Luper will look only to the principal for payment. Please bid as early as possible; in the event of identical bids, the earliest (as determined solely by the auctioneer) takes precedence. Please be advised that when the Auctioneer is accepting a bid, whether from Floor, Absentee, Phone or On-Line, the highest bid will be taken. Should an On-Line Bid become tied with an accepted Bid from another Bidder, the On-Line Bidder may only up the tie by placing an additional Bid. Each lot shall be at the buyer's risk or loss from the fall of the hammer knocking the lot down to such buyer. In the event of any dispute between bidders, the auctioneer shall have discretion either to determine the successful bidder, or to offer and re-sell the article in dispute. If any final dispute arises after the Auction, the Luper Auction sales records shall be conclusive in each and all respects. 8. ABSENTEE BIDS For Buyers unable to participate live in the salesroom or on the telephone Luper will execute absentee bids on behalf of prospective purchasers in accordance with the "Procedures of Absentee Bidders". Luper will buy for an Absentee Bidder at the lowest price possible. Goods will be knocked down at the lowest fractional advance, in competition with other absentee bids, reserves, bids from the audience and/or On-Line Bids. In the event of identical absentee bids, the 1st bid received will take precedence. Luper shall not be deemed in breach of any duty to an Absentee, Gallery, Phone or On-Line Bidder by reason of its execution of more than one bids in competition for the same goods. To register as an absentee bidder an Absentee Bid Form must be completed, signed and delivered to Luper Auction Galleries,5902 Jefferson Davis Hwy. Woodford, VA 22580 (804) 359-2493 . A Cash, Certified Fund or Credit Card Deposit equal to Twenty Percent (20%) of the Total Amount of the Bid is Required to Accompany the Absentee Bid Registration unless waived by Luper. The deposit will be applied to the total purchases price. Should the Absentee Bidder not be successful, the deposit will be refunded within 2 Business Days by Credit Card or by mail within 10 Business Days. 9. PHONE BIDS Luper can handle a Total of Four (4) Phone Bids per Lot. Phone Bids will be accepted, ?First Come, First Serve?, but Lots with High Pre-Sale Estimates, Luper may ask for an ?Opening Bid? in order to Allow the Highest Potential Bidder to Participate in the Bidding for that Item. If a Phone Bidder ceases Bidding during the Auctioning of the Lot , the Luper Assistant may cease the call and call another Phone Bidder for that Lot. If all Phone Bids or occupied, the Bidder may Purchase by Absentee or On-Line Bidding. 10. PAYMENT Upon Registration of Absentee, Phone and Online Bidders Each Bidder will be Required to issue a Valid Credit Card (Visa, MasterCard or Discover) to Insure the Buyers Willingness to Honor Their Bids. Each Winning Buyer will be Notified Immediately after the Auction by Email and Payments will be made Immediately by Credit Card unless Prior Arrangements that are Pre-Approved by Luper. Payment Terms are by Cash, Visa, MasterCard, Discovery, Certified Funds, USPS Money Orders, Western Union Auction Payments, Wire Transfers or other terms agreed to in writing prior to the sale. Payment shall be made immediately following the sale. Goods purchased shall be available to Buyer immediately following good funds payment into Luper?s Escrow Account. To avoid delay in commencing the sale and delivery of purchases, buyers are urged to make arrangements well before bidding if payment is by other than immediate Cash or Wire Transfer. Please note that unless exempt, all sales are subject to the 5% (percent) Virginia Sales Tax. Any Buyer wishing to make Payment by wire transfer should call for Wire Banking Information and Bear the Cost of the Wire Transfer: All purchases will be itemized on a summary receipt and must be marked paid before being presented to a Luper Gallery Assistant for possession or delivered to the Shipper. All items must be signed out to the Purchaser prior to removal from the Auction premises. If the Buyer has its Agent pick up their purchases, prior authorization Must be arranged with Luper in Writing to release their Purchase. In the event of buyer's default, buyer agrees to pay all costs and expenses of collection incurred by Luper Auction Galleries and/or the pertinent consignor in the enforcement of buyer's obligations, including without limitation reasonable attorneys' fees. A Charge of $ 50.00 will be assessed for all returned checks each time they are returned. Luper reserves the right to affect the Buyer's ability to Register and Bid at future Auctions. 11. RIGHT TO WITHDRAW: Luper reserves the right to withdraw any item from the Auction or alter the Auction in any way at any time. 12. SHIPPING & REMOVAL Purchase is final upon auctioneer's pronouncement of "sold", and buyer assumes all risk & responsibility for the purchase at this point. Buyer must remove items with in three (3) Business Days of sale unless other arrangements have been made. We will release your items to your designated agent upon Good Funds Payment in Luper?s Escrow Account. Storage Fee's will Begin on the 5th Day after the Sale at the Rate 5% of the Hammer Price Per Lot per Day with a minimum $5 Per Lot Per Day, Unless Prior Arrangements Have Been Made with Luper?s Management Staff. Luper Auction Galleries, Inc is not a shipping service. Luper has given many dimensions and weights in the On-Line Item descriptions. On-Line Bidders are urged to investigate and estimate their own packaging, shipping and insurance from Luper Auction Galleries location at 5902 Jefferson Davis Hwy., Woodford, VA 22580 Each successful Buyer will pay any packaging, shipping and insurance charges directly to the shipper. Luper will not release any items to be picked up, delivered or shipped until good funds are confirmed in Luper?s Escrow Account. Should any prospective Bidder desire to secure a firm to handle their packing and shipment, Luper will offer limited assistance. As a reference, Luper has used the following Shipping Firm for over 15 years with great success in handling World Wide Shipping of Art, Furniture and Period Antiques. Should a Buyer choose to use this Service, Luper will deliver their Purchases to the Shipper at no Charge once proper payment is deposited. The Buyer will make arrangements for shipping directly with the Shipping Firm and after delivery to the shipper, Luper has no liability for any items delivered. SHIPPER: Multi Interest Service Corp. EMAIL: gblouch@miscusa.com Contact: Greg Blouch WEB PAGE: www.miscusa.com Address: 3901 Castlewood Road Richmond, VA 23234 TELEPHONE: 804-271-1572 Fax: 804-271-1805 Buyers are hereby advised that the Handling of Purchased Lots by Our Employees Is Undertaken Solely as a Courtesy for the Convenience of the Buyer. The Buyer should instruct the Luper Employee with any assistance that is needed. In the Case of Fragile Articles, Any Handling by Our Employees Will Only Be Taken at the Discretion of the Auction Company, and At the Request and Risk of the Purchaser. TIPPING LUPER EMPLOYEES IS NOT PERMITTED UNDER ANY CIRCUMSTANCES. Any Buyer tipping a Luper Employee risks the ability to Bid in the Future. 13. LIMITED LIABILITY If for any cause a purchased lot cannot be delivered in as good condition as at the time of sale, or should any purchased lot be stolen or mis-delivered or lost prior to delivery, Luper shall not be liable for any amount in excess of that paid by the purchaser. We are not responsible for the acts or omissions of carriers or packers of purchased lots, whether or not recommended by us. Packing and handling of purchased lots by us is at the entire risk of the purchaser and Luper will have no liability for any loss or damage to such items. 14. REMEDIES AVAILABLE TO LUPER AUCTION GALLERIES In addition to the other remedies available to us by law, we reserve the right to impose a late charge of 1 1/2% 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 our premises by the purchaser at their expense not later than (3) business days following its sale and, if it is not removed, Luper reserves the right to charge a minimum storage fee of the Rate 5% of the Hammer Price Per Lot per Day or a minimum of $5 per lot per day whichever is greater or to deliver the property to a public warehouse for storage at the purchaser's expense, to be released only after payment in full of all removal, storage, handling, insurance and any other costs incurred, together with payment of all other amounts due to us. Luper shall have no liability for any damage to property left on its premises for more than (2) days following the sale. If any applicable conditions herein are not complied with by the purchaser, in addition to other remedies available to us and the consignor by law, including without limitation the right to hold the purchaser liable for the total purchase price, including all fees, charges and expenses more fully set forth herein, we shall be entitled in our absolute discretion to exercise one or more of the following rights or remedies: a) To charge interest at such rate as we shall reasonably select; b) To hold the defaulting buyer liable for the total amount due and to commence legal proceedings for its recovery together with interest, legal fees and costs to the fullest extent permitted under applicable law in the Commonwealth of Virginia; c) Cancel the sale of that, or any other lot or lots sold to the defaulting purchaser at the same or any other auction, retaining as liquidated damages all payments made by the purchaser; d) Resell the property whether at private sale or public auction without reserve, and the purchaser will be liable for any deficiency, cost, including handling charges, the expenses of both sales, our commission on both sales at our regular rate, all other charges due hereunder and incidental damages; e) To set off the outstanding amount remaining unpaid by the buyer against any amounts which we may owe the buyer in any other transactions; f) Where several amounts are owed by the buyer to us, in respect of different transactions, to apply any amount paid to discharge any amount owed in respect of any particular transaction, whether or not the buyer so directs; 14. REMEDIES AVAILABLE TO LUPER AUCTION GALLERIES (continued) g) To reject at any future auction any bids made by or on behalf of the buyer or to require a deposit from the buyer before accepting any bids; h) Any disputes i) To take such other actions as we deem necessary or appropriate; or j) To effect any combination thereof. In addition, a defaulting purchaser will be deemed to have granted and assigned to us a continuing security interest of first priority in, and we may retain as collateral security for such purchaser's obligations to us, any property or money of or owing to such purchaser in our possession. We shall have all of the rights accorded a secured party under the Virginia Uniform Commercial Code with respect to such property and we may apply against such obligations all monies held or received by us for the account of, or due from us, to such purchaser. At our option, payment will not be deemed to have been made in full until we have collected funds represented by checks, or in the case of bank or cashier's checks, we have confirmed their authenticity. In the event the purchaser fails to pay any or all of the total purchaser price for any lot and Luper nonetheless elects to pay the consignor any portion of the sale proceeds, the purchaser acknowledges that Luper shall have all of the rights of the consignor to pursue the purchaser for any amounts paid to the consignor, whether at law, in equity, or under these Conditions of Sale. 15. All measurements and weight are approximate. Luper is not responsible for damage of glass covering paintings, drawings and other works or frames regardless of cause. 16. If any part of these Conditions of Sale is found by any court to be invalid, illegal or unenforceable, the balance of the conditions shall continue to be valid to the fullest extent permitted by law. 17. PROVENANCE In certain circumstances, Luper may print in the catalogue the history of ownership of a work of art if such information contributes to scholarship or is otherwise well known and assists in distinguishing the work of art. However, the identity of the seller or previous owners may not be disclosed for a variety of reasons. For example, such information may be excluded to accommodate a seller's request for confidentiality or because the identity of prior owners is unknown given the age of the work of art. 18. SEVERABILITY. If, for any reason, any provision of this Auction Terms and Conditions is declared null and void or otherwise unenforceable, the parties hereto understand and agree that such determination shall not affect any other provision of this Terms and Conditions, all of which other provisions shall remain in full force and effect. It is the intention of the parties hereto that if any provision of this Terms and Conditions is capable of two constructions, one that would render the provision valid and the other that would render the provision void, then the provision in question shall have that meaning which renders it valid. 19. PERSONAL JURISDICTION. The Bidder understands and agrees that by executing His Registration and accepting these Terms and Conditions he/she/they are subject to the personal jurisdiction of the courts of the Commonwealth of Virginia. The Bidder also agrees that any and all litigation, arbitration, or other controversy/dispute shall be commenced and heard in the City of Richmond or County of Henrico, Virginia, and that such forum is a reasonable forum for the resolution of any such litigation, arbitration, controversy or dispute. 20. ATTORNEY'S FEES. In the event of any litigation, arbitration, or any other controversy/dispute between the parties relating to this Terms and Conditions , the Bidder understands and agrees to pay any and all reasonable attorney's fees, costs, and other expenses incurred by Luper in enforcing any of the terms and provisions of this Terms and Conditions . 21. MISCELLANEOUS. This Agreement shall be governed by and construed and enforced in accordance with the laws of the Commonwealth of Virginia. L U P E R A U C T I O N G A L L E R I E S A Division of T. C. Luper and Company, Inc. 5902 Jefferson Davis Hwy. Woodford, VA 22580 (804) 359-2493 EMAIL: tcluper@lupergroup.com WebSite: www.lupergroup.com vaar: 2908000897 & 2905000110