Auburn Spring - Automobilia - Saturday

Bidders' Conditions of Business Please ensure that you have read and understand these Conditions of Business prior to bidding at this or any other RM Auctions, Inc. RM sale. Please note that the winning Bidder becomes a Buyer who is also bound by these Conditions of Business. BIDDER(S) CONDITIONS OF BUSINESS 1. Introduction. 1.1 Please ensure that you read and understand these Conditions of Business prior to bidding on a motor car(s) or any other lot(s) at this or any other RM Auctions, Inc. d.b.a. RM Sothebys (RMS) sale. Please note that the winning Bidder(s) becomes the Buyer(s) who is also bound by these Conditions of Business. 1.2 RMS contractual relationship with the Bidder(s) are governed by: 1.2.1 These Bidder(s) Conditions of Business; 1.2.2 The Conditions of Business displayed in the auction salesroom; 1.2.3 The Conditions of Business displayed on RMS website; and 1.2.4 In each case as amended by any salesroom notice or auctioneers announcement at the auction. (clauses 1.2 to 1.2.4 together Contractual Obligations) 1.3 As auctioneer, RMS acts as agent for the Consignor(s), and a sale contract is made directly between the Consignor(s) and Buyer(s). 1.3.1 Occasionally, RMS may own a motor car(s) or any other lot(s) (and, in such circumstances, acts in a principal capacity as the Seller(s)) and/or may have a legal, beneficial, or financial interest in a motor car(s) or any other lot(s) as a secured creditor or otherwise. 2. Services. RMS agrees to act as an agent for the Bidder(s) and provide auction services including, but not limited to, a sale facility, clerks, support staff, event advertising, and promotion. In connection with the auction, RMS will have absolute discretion with regard to the motor car(s) and any other lot(s) or any RMS auction as to (a) consulting any expert either before or after the sale, (b) researching the provenance, (c) grouping and providing catalogue and other descriptions as may be appropriate, (d) marketing and promotion of the sale, and (e) any other services required to conduct the sale. 3. Registration Fee. In order to register to bid onsite at auction, Bidder(s) must pay a $300.00 (USD) bidder registration fee. 4. Bidding. 4.1 To bid at an RMS auction, a Bidder(s) must be at least 21 years of age. 4.2 At auction, there is no cooling off period. If you are awarded the final bid, ownership changes hands at the drop of the gavel. You own the motor car(s) or any other lot(s) and are responsible for payment in full. No Bidder(s) may retract a bid made during the sale for any reason. 4.3 The Bidder(s) is responsible for all risk of loss or damage and insurance immediately upon purchase of the motor car(s) or any other lot(s). 4.4 RMS reserves the right to reject any bid(s). The highest Bidder(s) acknowledged by the auctioneer will be the Buyer(s). The auctioneer has absolute and sole discretion in the case of error or dispute with respect to bidding and, whether during or after the sale, to determine the successful Bidder(s), to re-open the bidding, to cancel the sale, or to re-offer and re-sell the motor car(s) or any other lot(s) in dispute. If any dispute arises after the sale, RMS sale record is conclusive. At RMS discretion, RMS will execute order or absentee bid(s) and accept telephone bid(s) and online bid(s) via rmsothebys.com as a convenience to clients who are not present at auctions; RMS is not responsible for any errors or omissions in connection therewith. Prospective Bidder(s) should also consult rmsothebys.com for the most up-to-date cataloguing of the motor car(s) or any other lot(s). 4.5 By participating in the sale, the Bidder(s) represent and warrant that any bid(s) placed by them, or on their behalf, are not the product of any collusive or other anti-competitive agreement and are otherwise consistent with federal and state antitrust law. RMS may require such necessary financial references, guarantees, deposits, and/or such other security, at their absolute discretion, as security for their bid(s). Please bear in mind that RMS is unable to obtain financial references over weekends or public holidays. 5. Purchase Price. 5.1 The Purchase Price shall consist of the following: 5.1.1 The Hammer Price of the motor car(s) or any other lot(s); and 5.1.2 The applicable Buyers Premium. (clauses 5.1 to 5.1.2 together Purchase Price) 6. Buyers Premium. 6.1 In addition to the Hammer Price, the winning Bidder(s) is required to pay RMS a percentage of the Hammer Price, which RMS retains as the Buyers Premium for their purchase of each motor car(s) or any other lot(s) (Buyers Premium) in accordance with the following clauses: 6.1.1 RMS will receive a Buyers Premium of ten percent (10%) on all motor car lot(s). 6.1.2 Buyer(s) of all non-motor car lot(s), including but not limited to memorabilia, motorcycle(s), boat(s), trailer(s), jewelry, and clothing, are required to pay RMS a Buyers Premium of fifteen percent (15%) on the Hammer Price of that particular lot(s). 7. Tax. 7.1 If the Buyer(s) of a motor car(s) or any other lot(s) resides in a state in which RMS is registered to collect Sales Tax, RMS is required to collect sales tax on the purchase of that motor car(s) or any other lot(s). Currently, RMS is registered to collect sales tax in the following states: California, Florida, Indiana, South Carolina, Arizona, New York, and Michigan. RMS reserves the right to collect sales tax from residents from other jurisdictions if RMS deems the collection of tax necessary. 7.2 The Bidder(s) is responsible to pay all city, state, or other taxes due for which the Bidder(s) does not qualify as exempt. Proof of exemption is the Bidder(s) responsibility. Bidder(s) are responsible for any applicable duty on any motor car(s) or any other lot(s). International Bidder(s) must pay any and all import duties that are due upon the import of the motor car(s) or any other lot(s) to its final destination. 8. Payment. 8.1 Subject to fulfillment of the Contractual Obligations, on the fall of the auctioneers hammer or equivalent device or mechanism (Hammer Price), the contract between the Consignor(s) and the Bidder(s) is concluded and payment is due in full on or before 5:00 p.m. of the next business day (Payment Deadline), and payment is to be made to RMS. 8.2 All payments must be in the form of cash or certified funds unless other arrangements have been approved in advance. Cash payments will be reported according to U.S. federal government requirements. 8.3 RMS is not obligated to release the motor car(s) or any other lot(s) to the winning Bidder(s) until the winning Bidder(s) has met all of the Contractual Obligations and paid the Purchase Price plus applicable taxes. 8.4 In the event that the winning Bidder(s) does not pay any portion of the Purchase Price plus applicable taxes by the Payment Deadline, the Bidder(s) agrees to and acknowledges the following: If RMS elects to pay the Consignor(s) any portion of the Purchase Price plus applicable taxes, RMS shall have all of the rights of the Consignor(s) to pursue the Buyer(s) for any amounts paid to the Consignor(s), whether at law, in equity, or under these Conditions of Business. The Bidder(s) hereby authorizes RMS to deduct the Purchase Price plus applicable taxes from the Bidder(s) cash deposit or to charge this amount to the credit card that the Bidder(s) has provided. If the Bidder(s) cash deposit and/or credit card payment does not cover the Purchase Price plus applicable taxes, in addition to other remedies available by law, RMS reserves the right to impose, from the Payment Deadline until the full Purchase Price plus applicable taxes has been made by the Buyer(s), a late charge of ten percent (10%) interest per annum on the (1) Purchase Price plus applicable taxes; (2) maximum published Sellers Commission; (3) applicable expenses; (4) any collection costs, attorney fees, and court costs incurred to enforce payment; and (5) other damages. 9. All Sales are As Is and Where Is. The Bidder(s) is responsible for inspections and verification of the condition, authenticity, and completeness of any motor car(s) or any other lot(s) purchased. No warranties or representations of any type whatsoever are made by RMS. Statements printed in catalogues, online content, pre-mailers, advertisements, brochures, signs, and window cards, as well as verbal statements made by auctioneers or auction staff, are representations made by the Consignor(s), and RMS has no obligation to verify or authenticate any such claims or representations. Except as herein provided, all motor car(s) or any other lot(s) are sold as is, where is, with no representations or warranties, expressed or implied. THE CONSIGNOR(S) AND RMS DISCLAIM ALL WARRANTIES, EXPRESSED OR IMPLIED, AS TO CONDITION, ORIGINALITY, OR AUTHENTICITY; ORIGIN OR PROVENANCE; PREVIOUS USE OR OWNERSHIP; MANUFACTURING OR RESTORATION PROCESSES; YEAR OR AGE; SERIAL NUMBER, MAKE, OR MODEL; OPTIONS AND TOOLS; ENGINE HOURS; AND MILEAGE OF ANY MOTOR CAR(S) OR ANY OTHER LOT(S) OR COMPONENT OF ANY MOTOR CAR(S) OR ANY OTHER LOT(S), AND THEY SPECIFICALLY DISCLAIM ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE. 10. Reserve(s). Motor Car(s) or any other lot(s) not marked as no reserve (or similar) are subject to a reserve bid set by the Consignor(s). When a motor car(s) or any other lot(s) is sold subject to such a reserve bid, the auctioneer may bid on the Consignor(s) behalf in an amount not to exceed the amount of the reserve bid. 11. Absentee and Telephone Bidding. Absentee and telephone bidding are services provided by RMS for the Bidder(s) benefit, and RMS cannot be held responsible for errors or omissions with respect to the bidding process, including failure to execute any bid. By submitting a bid(s), the Bidder(s) has entered into a binding contract to purchase each motor car(s) or any other lot(s) if the Bidder(s) bid is successful. If the Bidder(s) bid is successful, the Bidder(s) is to pay the Purchase Price plus applicable taxes, including the Buyers Premium and sales tax, if not otherwise exempt. It is the Bidder(s) responsibility to provide proof of exemption from sales tax. By participating in telephone bidding, the Bidder(s) acknowledges that RMS has the right to record all telephone calls. 12. Cancellation/Rescission of Auction or Sale of Motor Car(s) or Any Other Lot(s). 12.1 RMS will use reasonable efforts to avoid cancellation/rescission; however, RMS has the sole discretion to cancel/rescind an auction or the sale of a motor car(s) or any other lot(s) and will not be liable to the Bidder(s) for any losses or damages resulting from the cancellation/rescission if RMS believes the following events have occurred or have a reasonable probability of occurring: 12.1.1 Force Majeure events. including but not limited to: 12.1.1.1 Natural disaster; 12.1.1.2 Structural damage to auction venue prior to the auction; and 12.1.1.3 Terrorist event. 12.1.2 Government/Court action, order, injunction, regulation, or law that necessitates a cancellation; 12.1.3 RMS opines that the motor car(s) or any other lot(s) have been misrepresented by the Consignor(s) or the Bidder(s); 12.1.4 RMS opines that physical damage to the motor car(s) or any other lot(s), which cannot be sufficiently repaired prior to the auction, occurred after the Conditions of Business were signed; 12.1.5 RMS is threatened with a lawsuit from a third party; 12.1.6 RMS faces reputational damages for selling the motor car(s) or any other lot(s); 12.1.7 RMS faces liability or losses by selling the motor car(s) or any other lot(s); 12.1.8 Any issues regarding title(s), registration(s), or transfer of ownership that cannot be reasonably cured; 12.1.9 Any issues regarding the provenance, merchantability, or authenticity of the motor car(s) or any other lot(s) that cannot be reasonably cured; and 12.1.10 If there is a claim, accusation, notice, or similar communication made by the Buyer(s) in regard to their purchase of a motor car(s) or any other lot(s) not being authentic, being misrepresented, having an encumbered title or registration, having undisclosed material issue, or having a similar claim, RMS has the right to retain the Buyer(s) funds on account and be the arbitrator as to the merit of the Buyer(s) claims and to cancel the sale of the motor car(s) or any other lot(s) and reimburse the payment to the Buyer(s) if RMS deems the Buyer(s) claims to be valid. 13. Online Services are As Is and As Available. 13.1 Bidder(s) may be able to bid via websites, telephone services, applications, and tools (collectively Services). 13.2 RMS tries to keep the Services safe, secure, and functioning properly, but RMS cannot guarantee the continuous operation of or access to the Services. Bid update and other notification functionality may not occur in real time. Such functionality is subject to delays beyond RMS control. 13.3 Bidder(s) agree that they are making use of the Services at their own risk and that they are being provided to Bidder(s) on an AS IS and AS AVAILABLE basis. Accordingly, to the extent permitted by applicable law, RMS excludes all expressed or implied warranties, terms, and conditions, including but not limited to implied warranties of merchantability, fitness for a particular purpose, and non-infringement. 14. Currency Display. RMS may use a currency display in the saleroom for informational purposes only. The currencies listed on the currency converter are not real-time conversions pegged to market rates and are not to be relied on by anyone. Errors and inaccuracies may occur in the operation of the currency converter. To be clear, the bid price stated by the auctioneer is the prevailing and binding bid price. 15. Bank Letter. Please note that in order to register to bid at an RMS sale, RMS requires that all Bidder(s) provide a Bank Letter. All Bank Letters must be written on bank letterhead. Please note that RMS may waive this requirement at its sole discretion. 16. Credit Card Hold and Pre-authorization. Please note that in order to register to bid at an RMS sale, RMS requires a $5,000.00 (USD) hold and pre-authorization to be placed on the Bidder(s) credit card. If the Bidder(s) fails to pay for a motor car(s) or any other lot(s) purchased on or before 5:00 p.m. of the next business day following the auction, the Bidder(s) acknowledges that their credit card will be charged $5,000.00 (USD) for the missed payment; please note that the Bidder(s) is still bound to pay their remaining balance. The $5,000.00 (USD) hold will not be charged to their credit card if the Bidder(s) makes full payment on or before 5:00 p.m. of the next business day following the auction. If the Bidder(s) does not purchase a motor car(s) or any other lot(s), their credit card will not be charged. If their credit card is not to be charged, the $5,000.00 (USD) hold should fall off their credit card within three (3) to four (4) business days depending on their credit card company. Please note that RMS may waive this requirement at its sole discretion. 17. Removal of Purchased Motor Car(s) or Any Other Lot(s). 17.1 All purchased motor car(s), including motorcycle(s), boat(s), and trailer(s), must be removed from the auction site by the next business day by five PM (5:00 p.m. EST) in the jurisdiction where the auction was held (Removal Deadline). 17.2 If the motor car(s), including motorcycle(s), boat(s), and trailer(s), are not removed by the Removal Deadline, the Buyer(s) will be charged a removal fee of $450.00 (USD) and a daily storage fee of $30.00 (USD) until the motor car(s), including motorcycle(s), boat(s), and trailer(s), is removed. 17.3 For the collection of any non-motor car lot(s), including but not limited to memorabilia, jewelry, and clothing, from the auction site, once the Buyer(s) has made payment by the Payment Deadline, a direct shipping company will contact the Buyer(s). Please note that a reasonable memorabilia removal and storage fee will apply. 17.4 Please note that the Buyer(s) is required to insure their motor car(s) or any other lot(s) while it is being stored on their behalf. 18. Legal Action. In the event that either party brings action against the other, arising from or relating to this auction, the prevailing party, as determined by the court, shall be entitled to recover its reasonable attorneys fees and costs. Jurisdiction for any action brought shall lie exclusively in a court of competent jurisdiction in the judicial district in which the auction is located. 19. Packing and Shipping. RMS is not responsible for the acts or omissions in our packing or shipping of purchased motor car(s) or any other lot(s) or of other carriers or packers of purchased motor car(s) or any other lot(s), whether or not recommended by RMS. Packing and handling of purchased motor car(s) or any other lot(s) is at the entire risk of the Buyer(s). 20. Data Protection. RMS will use information provided by our client(s) (or which RMS otherwise obtains relating to our client(s)) for the provision of auction and other related services, loan services, client administration, marketing, and otherwise to manage and operate our businesses, or as required by law. This will include information such as the client(s) name and contact details, proof of identity, financial information, records of the client(s) transactions, and preferences. Some gathering of information about our client(s) will take place using technical means to identify their preferences in order to provide a higher quality of service to them. RMS may also disclose the client information to other Sothebys or RM Sothebys Companies and/or third parties acting on their behalf to provide services for these purposes. 21. Money Laundering. The Bidder(s) agrees to provide all information and assistance reasonably requested by RMS to comply with RMS internal Anti-Money Laundering process and to comply with any and all Money Laundering Laws and Regulations in force in the jurisdiction in which the auction is held. 1. Person bidding online must be 21 years of age or older. No minors are allowed to bid. 2. A live auction is by its nature fast moving and bidding may progress very quickly. RMA encourages that online bids be submitted as promptly as possible to ensure that online bidders are not at any disadvantage when bidding against bidders in the room and on the telephones. The procedure for placing bids is therefore a one-step process; as soon as the "Bid" button is clicked, a bid is submitted. By bidding online, you accept and agree that bids submitted in this way are final and that you will not under any circumstances be permitted to amend or retract your bid. If a successful bid is sent to RMA from your computer, you irrevocably agree to pay the full purchase price, including buyer's premium and all applicable taxes and other applicable charges. 3. Bids other than Internet bids will be displayed on the Internet bidder's computer screen as "Floor" bids. "Floor" bids include those bids taken from the live auction room, telephones, and absentee bidders. If an online bid and a "Floor" bid are placed simultaneously, the "Floor" bid will take precedence. 4. The next bidding increment is shown on your screen for your convenience. The auctioneer has discretion to vary bidding increments for bidders in the room and on the telephones, but internet bidders will not be able to place a bid in an amount other than a whole bidding increment. 5. The record of sale, kept by RMA, will be taken as absolute and final in all disputes. In the event of a discrepancy between any online records or messages provided to you and the record of sale kept by RMA, the record of sale will govern. 6. RMA reserves the right to refuse or revoke permission to bid online and to remove online bidding privileges at any time, including during the sale. 7. Successful bidders will be notified within 48 hours of the close of the sale and invoiced after the sale. All payments must be made by certified funds within 24 hours of receipt of the invoice, unless other arrangements have been approved in advance with RMA's Finance Department. Bidder authorizes RM Auctions Inc. to authorize the credit card number provided for $5000 USD. Should a bidder default on payment in any manner whatsoever, without limiting any recourse RMA may have, bidder agrees to pay RMA all lost auction fees (which is the maximum published rates for (1) the seller's commission, (2) the buyer's premium, and (3) the entry), this amount is due and payable without relief. Bidder will also be liable to seller for its damages. Bidder hereby authorizes RMA to deduct these lost auction fees from bidder's cash deposit, or to charge this amount to bidder's credit card provided. Bidder agrees not to dispute this charge with the credit card company at any time. Bidder agrees to also pay RMA's costs of collection, including attorneys' fees and costs. 8. ALL BIDS ARE FINAL AT AUCTION. At auction there is no "cooling off period". If you are awarded the final bid, ownership changes hands at the drop of the gavel. You own the merchandise and are responsible for payment in full. No bidder may retract a bid made during the sale for any reason. 9. All sales are "as is" and "where is". Bidder is responsible for inspections and verification of condition, authenticity, and completeness of any vehicle or item purchased. No warranties or representations of any type whatsoever are made by RM Auctions, Inc. Statements printed in catalogues, brochures, signs, window cards, and verbal statements made by auctioneers or auction staff are representations made by the Consignor and RMA has no obligation to verify or authenticate any such claims or representations. Any announcements made at time of sale supersede any earlier printed information, and online bidders are responsible for making themselves aware of saleroom notices and announcements. Except as herein provided, all vehicles are sold as is, where is, with no representations or warranties, expressed or implied. CONSIGNOR AND RM AUCTIONS, INC. DISCLAIM ALL WARRANTIES, EXPRESSED OR IMPLIED AS TO CONDITION, ORIGINALITY, OR AUTHENTICITY, ORIGIN OR PROVENANCE, PREVIOUS USE OR OWNERSHIP, MANUFACTURING OR RESTORATION PROCESSES, YEAR OR AGE, SERIAL NUMBER, MAKE, MODEL, OPTIONS, TOOLS, OR MILEAGE OF ANY VEHICLE OR COMPONENT OF ANY VEHICLE, AND SPECIFICALLY DISCLAIM ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE. 10. Bidder is responsible for all risk of loss or damage immediately upon purchase of the vehicle or item. All vehicles or items purchased must be removed from the auction site at the buyer's expense immediately following the sale. If not removed by the end of the day following the sale, RM Auctions, Inc. will remove the vehicle or item with all costs of moving and storage to be paid by the buyer. 11. Final bid price does not include buyer's premium or applicable taxes on each lot purchased. Buyer is responsible to pay all city, state or other taxes due for which the buyer does not qualify as exempt. Proof of exemption is buyer's responsibility. 12. Buyer's premiums are as follows. A ten percent (10%) commission will be added to the final bid of each motor car lot purchased. A fifteen percent (15%) commission will be added to the final bid of any other lot purchased. 13. Vehicles not marked as "no reserve" (or similar) are subject to a reserve bid set by the Consignor. When a vehicle is sold subject to such a reserve bid the auctioneer may bid on the Consignor's behalf in an amount not to exceed the amount of the reserve bid. 14. In the event either party brings action against the other arising from or relating to this bid card or any auction held in connection with, the prevailing party, as determined by the court, shall be entitled to recover its reasonable attorneys' fees and costs. The law of the state in which the auction is held shall govern the provisions of this bid card. Jurisdiction for any action brought shall lie exclusively in a court of competent jurisdiction in the judicial district in which the auction is located. 15. Any and all terms of sale posted on the auction premises, printed in sale brochures or forms, posted on this website, publicly announced, or otherwise published are incorporated herein by reference. It is the bidder's responsibility to familiarize themselves with these terms. 16. RM Auctions, Inc. offers live online bidding as a convenience to our clients. RMA is not responsible for any errors or failures to execute bids placed on the internet, including, without limitation, errors or failures caused by (i) a loss of connection to the internet or to the online bidding software by either RMA or the client; (ii) a breakdown or problems with the online bidding software; or (iii) a breakdown or problems with a client's internet connection or computer. RMA will not be responsible for any failure to execute an online bid or for any errors or omissions in connection therewith. 17. Live online bidding will be recorded.

Although every effort is made to ensure the accuracy of the information contained in the online auction website, such information is provided by the seller and may not be verified by RM Auctions, Inc. prior to the sale time. Any additional information or corrections known at sale time will be announced by the auctioneer. RM Auctions, Inc. accepts no responsibility for the condition of any items offered.

RM Auctions usually auctions automobiles at the rate of 20 lots per hour. On some occasions LiveAuctioneers bid software or the Internet may not be able to keep up with the pace of the auction. RM recommends placing a realistic absentee bid now as insurance to help avoid disappointment. Occasionally the auctioneer may eliminate or reject a LiveAuctioneers bid, and the auctioneer may also re-open a lot after the close of the LiveAuctioneers bidding (usually because of a missed audience bid), and may reject your bid even if it shows you as the winning bidder. By bidding via LiveAuctioneers, you agree that RM Auctions may award the lot to another bidder at its sole discretion under the circumstances described above or any other reasonable circumstances. Since LiveAuctioneers bids are not shown to us until we open the lot on the floor, we treat those bids just like floor bids. In most cases the floor responds before the LiveAuctioneers bid is presented to us, due to Internet lag time, so for consistency we have made it a policy that floor bids are always considered first over tie LiveAuctioneers bids. Please make sure you read the Terms and Conditions before you bid. This lot is being auctioned in conjunction with a live floor auction by RM Auctions, Inc. All final auction and invoice information will be supplied by RM Auctions, Inc., and all other information should be considered preliminary. Winning Notification and Billing: After the FINAL session in this auction is complete RM Auctions will send e-mail invoices. This process normally takes up to two days. All final auction and invoice information will be supplied by RM Auctions, Inc., and all other information should be considered preliminary. This auction will be conducted on a live auction floor and over the Internet through LiveAuctioneers.