Purchase Price and Payment: PURCHASE PRICE AND PAYMENT
(a) The buyer agrees to pay us, in addition to the hammer price of the lot, the buyer's premium and any applicable sales tax (the "Purchase Price"). The buyer's premium is 23% of the hammer price.
(b) Sales tax, use tax and excise and other taxes are payable in accordance with applicable law. All prices, fees, charges and expenses set out in these Conditions of Sale are quoted exclusive of applicable taxes. Bal Harbour Auctions will only accept valid resale certificates from US dealers as proof of exemption from sales tax. All foreign buyers should contact the Client Accounting Department about tax matters.
(c) Unless otherwise agreed, a buyer is required to pay for a purchased lot immediately following the auction regardless of any intention to obtain an export or import license or other permit for such lot. Payments must be made by the invoiced party in US dollars either by cash, check drawn on a US bank or wire transfer.
(d) As a courtesy to clients, Bal Harbour Auctions will accept American Express, Visa and MasterCard to pay for invoices of $5,000 or less. A processing fee will apply. Any payment of more than $5,000 must be made with a wire transfer.
(e) Title in a purchased lot will not pass until Bal Harbour Auctions has received the Purchase Price for that lot in cleared funds. Bal Harbour Auctions is not obliged to release a lot to the buyer until title in the lot has passed and appropriate identification has been provided, and any earlier release does not affect the passing of title or the buyer's unconditional obligation to pay the Purchase Price.
Sales Tax: SALES TAX
Unless the buyer has delivered a valid certificate evidencing exemption from tax, the buyer shall pay applicable Florida sales tax on any lot picked up or delivered anywhere in the states of Florida.
Shipping Terms: (c) As a courtesy to clients, Bal Harbour Auctions will, without charge, wrap purchased lots for hand carry only. We will, at the buyer's expense, either provide packing, handling, insurance and shipping suggestions to facilitate such services for property bought at Bal Harbour Auctions. Any such instruction, whether or not made at our recommendation, is entirely at the buyer's risk and responsibility, and we will not be liable for acts or omissions of third party packers or shippers.