These Terms of Sale are made by and between Legend Gallery ("Legend," "Auction House," "We," "Our" or "Us") and Bidder ("Purchaser," Buyer" or "Agent"). The Terms of Sale and all contents of the catalogue are subject to amendment by Legend Gallery either by the posting of notices or announcements made by auctioneer. By participating in any sale, Bidder hereby acknowledges to be bound by these terms and conditions.
1. The Purchase of and Payment for Property
The sale of a lot shall be to the highest bidder as determined by the auctioneer, in accord with these Terms of Sale. Title to the lot shall pass with the fall of the Auctioneer's hammer. Buyer shall pay the Purchase price, as defined above, and such other fees as may be due, in full, within fourteen (14) days of the auction sale. Sale is not final and property will not be released to Buyer until good funds for all amounts due, are received by Legend Gallery.
We reserve the right to withdraw any property at any time. Unless otherwise announced by Auctioneer at the time of sale, all bids are per lot as numbered in the catalogue and no lot shall be divided for sale.
We reserve the right to reject a bid from any bidder. The highest bidder acknowledged by the Auctioneer shall be the Purchaser. In the event of any dispute between bidders, or in the event the Auctioneer doubts the validity of any bid, the Auctioneer shall have sole and final discretion either to determine the successful bidder or to re-offer and resell the lot in dispute. If any dispute arises after the sale, our sales records shall be preeminent in all respects.
If a lot is offered subject to reserve (the confidential minimum price below which a lot will not be sold), we may implement such a reserve by bidding on behalf of the consignor. CONSIGNORS MAY NOT BID ON THEIR OWN PROPERTY.
ALL PROPERTY IS SOLD "AS IS" AND NEITHER WE NOR THE CONSIGNOR MAKES ANY REPRESENTATION OR WARRANTY, EXPRESSED OR IMPLIED, AS TO THE MERCHANTABILITY, FITNESS OR CONDITION OF THE PROPERTY OR AS TO THE CORRECTNESS OF DESCRIPTION, GENUINENESS, ATTRIBUTION, PROVENANCE OR PERIOD OF THE PROPERTY.
International Bidders: YOU ARE RESPONSIBLE FOR MEETING ALL CUSTOMS/IMPORT/EXPORT REGULATIONS. WE CANNOT BE HELD LIABLE FOR DOMESTIC OR INTERNATIONAL LAWS AFFECTING THE DELIVERY OF YOUR ITEMS.
Payment is due immediately and may be made in: bank wire transfer; cashier's check; personal check with approved credit; or properly authorized Visa, MasterCard, American Express, or Discover Card for the amount no greater than $5,000 with 3% Credit Card Transaction Fee; Liveauctioneers online payment with processing fees. Processing Fee/Credit Card Transaction Fee is waived if paying with bank wire transfer or check. Make checks payable to Legend Gallery. All fees, taxes, premiums, or other sums due and not paid pursuant to this paragraph shall bear interest at 1.5 % per month from the 10th day following the first invoice to the date paid in full.
2. Buyer's Premium
A Buyer's Premium of 25% is added to the winning bid price of each individual lot purchased. The winning bid price plus the premium constitute the total purchase price for the lot. Applicable sales taxes are computed based on this figure. This total becomes the final purchase price.
3. Collection of Property
All lots must be removed from our premises at the Purchaser's expense, no later than 14 days following the date of the sale. Purchaser will incur a $5 per day fee per lot until the sold property is removed. In addition, applicable interest on each lot not so removed will accrue. We reserve the right to transfer non-removed property to a storage facility at the Purchaser's risk and expense.
No property will be released until payment in full is made on the items. Packing, shipping and insurance (including reimbursement for damage or loss) of purchased lots is the responsibility of the Purchaser. We are not responsible for any delays on the part of third party shippers. We recommend shipping all items insured. Insurance costs through third party carriers will be borne by the Purchaser and in case of damage, insurance claims should be taken up with the third-party carrier. Should any damage or loss occur to items transported by a third-party shipper, we will not be held responsible for the outcome. This reimbursement, of course, only covers the actual cost of the items shipped.
Legend Gallery requires a written authorization from the client to release property to any third party.
Upon payment in full we provide buyers with quotes of shipping to the address on file. Please notify us in writing of any instructions and different shipping address.
4. Buyer's Default, Cancelation of Sale, Rescission
If a buyer fails to pay for purchased property, or otherwise does not comply with these Terms of Sale, the buyer shall be in default. In addition to all remedies available in law, to Legend Gallery and to the Consignor, the buyer shall be liable for the entire Purchase price. Additionally, at our option, we may either cancel the sale and retain all payments made by buyer as well as retain any and all property of buyer in our possession as security against payment of the sums in default, or we may re-offer the property for sale, at auction or privately. Buyer shall be liable to us and the consignor for the additional fees, commissions and costs on both sales (including handling, storage and court costs and attorney's fees) resulting from the cancellation or resale of the property and in the event of resale, any deficiency which may result. At the discretion of Legend Gallery and the consignor, we may relieve the buyer of liability by payment of the full amount of commissions.
No rescission of sale shall be accommodated unless the property received by the buyer does not match the lot number or TITLE. The buyer must give written notice within 30 days of the sale and, at the buyer's sole expense and risk, return the property in question to Legend Gallery within 7 days after giving notice and in the same condition as when sold. Upon review of the claim and the property, if we are satisfied with the bases for the claim and the property is in the same condition as when sold, we will rescind the sale and return to you the purchase price, unless we have already remitted funds to the consignor. In that event, and at our sole discretion, Legend Gallery shall either pay you as provided above, or shall pay you only that portion of the purchase price retained by us (the seller's commission, the buyer's premium and any sales taxes collected) and on your behalf, make demand on the consignor for the balance and upon receipt of the funds remit same to you. Should the consignor refuse to return the funds, we shall disclose the consignor's identity and assign to you any and all rights Legend Gallery may have against the consignor. Buyer expressly understands and agrees that Legend Gallery shall have no other liability to the buyer except for the return of the purchase price and that in no event shall Legend Gallery be liable for any damages, including but not limited to incidental, consequential or compensatory damages or loss of profit or business opportunity.
Legend Gallery may cancel the sale at any time for any reason.
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