TIMEPIECE AUCTION

AUSTIN AUCTION GALLERY, AUSTIN, TEXAS TERMS OF SALE FOR AUCTION OF MAY 20, 2007 SHIPPING INFORMATION Packing, handling, and shipping of purchased lots is the sole responsibility and strictly at the option of the purchaser. Austin Auction Gallery does not provide packing or shipping services. However, we recommend purchasers consult with the following companies. All are independent of Austin Auction Gallery and Austin Auction Gallery does not receive compensation for referrals: SMALL ITEMS The UPS Store, George, 512-418-0520, or: store2548@theupsstore.com Post Net, Hetal Patel, 512-331-5855, e-mail: postnet@austin.rr.com LARGE ITEMS Craters & Freighters, Clarke Erskine, 888-520-1134, or: austin@cratersandfreighters.com Navis Pack & Ship Center, Bryan Davis, 512-997-9674, or: tx1021@gonavis.com Plycon Transportation, Stephanie, 214-905-5060, or: stephanie@plyconvanlines.com STATEMENT REGARDING TIMEPIECES: THE CONSIGNOR OF THESE TIMEPIECES HAS STATED THAT, WITH FEW EXCEPTIONS, THEY ARE IN OPERATING CONDITION. DURING THE LIFETIME OF HIS COLLECTING, MOST PIECES WERE MADE READY BY A WATCH REPAIR MAN. DURING THE ORGANIZATION OF THIS AUCTION MANY OF THE WATCHES WERE VIEWED OPERATING FOR A SHORT PERIOD OF TIME. THERE IS NO WARRANTY OFFERED, EXPRESS OR IMPLIED REGARDING TIMEPIECE OPERATION. 1. The offering and sale of property by Austin Auction Gallery, LLP, is subject to the following conditions of sale that may be modified or supplemented by oral announcements prior to, or during the sale. By bidding at this auction each purchaser and bidder agrees to be bound by these conditions of sale. We may be contacted as follows: Telephone: (512) 258-5479, Fax: (512) 219-7372, E-Mail: austinauction@cs.com. Our mail and physical address is: Austin Auction Gallery, 8414 Anderson Mill Road, Austin, Texas, U.S.A., 78729. We are in the Central Time Zone. 2. All property is sold by lot and all bids are per lot as numbered in the catalog. All consignors have made written representation that they have good title to the property. Austin Auction Gallery makes no independent warranty of title. All property is sold AS-IS, and all warranties, express or implied, including without limitation, the implied warranties of MERCHANTABILITY and fitness for purpose are specifically disclaimed by Austin Auction Gallery and their consignors. Austin Auction Gallery also disclaims all warranties arising from course of dealing and usage in the trade and descriptions published in this catalog as to condition and measurements. No warranty, express or implied, is made as to the transference of intellectual property rights. Buyer assumes risk of loss upon being declared high bidder. PHYSICAL DIMENSIONS LISTED IN THE CATALOG ARE APPROXIMATE AND ONLY PROVIDED FOR THE PURPOSE OF CALCULATING SHIPPING COSTS. 3. Bidders at this auction may bid in person, or if they are pre-registered and approved, they may bid by written absentee bid, by telephone, or by using the Internet. Internet bidders should register at least two hours prior to auction start. The auctioneer reserves the right to reject a bid from any bidder. A lot will be sold to the highest bidder as determined in the sole and exclusive judgment of the auctioneer. Photos and descriptions have been posted on the Internet and we encourage phone calls, e-mail or fax contact to answer questions. Internet bidders are encouraged to review each lot and be prepared to bid quickly. The auction company has no liability for missed bids for any reason including electronic failures. The auctioneer will, without liability, determine the bidding increments and maintains sole authority to resolve disputes. Lots may be auctioned with reserve and auctioneer may bid on behalf of the reserve without further notice. Neither Consignors nor their agents are allowed to bid on their own items. High sales estimates are listed for guide purposes only 4. All bidding at the auction and purchases will be in U.S. Dollars. A buyer’s premium in the amount of 15% of the successful bid will be added to the amount of the successful bid price for all lots purchased at the auction. Buyers are responsible for applicable sales taxes. If items are purchased for resale a valid resale tax number must be presented. Internet purchases must be paid for within 5 days of completion of auction. All other bidders must pay for purchases in full within one hour of the conclusion of the auction. Payment, in U.S. Dollars, may be made by approved credit cards which are limited to Visa, MasterCard, American Express and Discover (WE DO NOT ACCEPT PAYMENT THROUGH PAY-PAL). Checks are accepted only from Texas residents presenting a valid Texas driver’s license. 5. If we are prevented by fire, theft, damage, or any reason whatsoever from delivering any property to a purchaser who has paid for their purchase, our liability shall be limited to the sum actually paid by the purchaser and shall in no event include any incidental or consequential damages, and there will be no liability for property not paid for. 6. The auctioneer(s) conducting this auction is licensed by the Texas Department of Licensing and Regulation, PO Box 12157, Austin, Texas, 78711, (512) 463-2906, and protected through a recovery fund administered by the department. Any unresolved complaint can be directed to the department. Auctioneer in charge is Ross Featherston, license 8069. 7. Statements contained in the catalog or in any bill or sale, invoice or elsewhere as to authorship, period, culture, source, origin, measurement, quality, rarity, provenance, importance exhibition and literature of historical relevance, or physical condition are qualified statements of opinion and not representations or warranties. For the purpose of this auction, measurements and weights are noted in the catalog. These are approximate and noted for the purpose of assisting in shipping calculations only. However, no warranty or guarantee, express or implied, is offered as to the accuracy of these measurements or weights. DIMENSIONS OF ITEMS LISTED IN OUR AUCTION ARE APPROXIMATE AND ARE ONLY LISTED FOR CALCULATING SHIPPING COSTS. Descriptions provided in both printed and Internet catalogs do not include condition reports. The absence of a condition statement does not imply that the lot is in perfect condition or completely free from wear and tear, imperfections or the effects of aging. It is the responsibility of the prospective buyer to inquire as to condition of a specific lot before bidding. No employee of Austin Auction Gallery is authorized to make on our behalf or on behalf of the consignor any representation or warranty, oral or written, with respect to property. Austin Auction Gallery reserves the right to withdraw any lot any time before it is sold. Austin Auction Gallery has relied substantially upon information provided by its’ consignors to describe auction lots. 8. All paid for property shall be removed from our premises at the purchaser’s expense no later than 5:00 P.M. on the first Monday following the sale date, except property purchased by Internet bidders. If not so removed a storage fee of $25.00 per day will be payable to us by the purchaser beginning on the 11th day following the sale until the property removal, and we may transfer the property to a public warehouse at the purchasers risk and expense, or we may sell the property at public auction and the proceeds will be retained as liquidated damages. 9. Internet purchases must be removed from the auction premises no later than 21 days following the auction. Failure to do so will subject purchases to the remedies in paragraph No. 8 herein. 10. Internet purchasers hereby give irrevocable permission for Austin Auction Gallery to charge the credit card, that they have submitted with their request to participate in this auction, for any and all purchases made by them at this auction.

Local Taxes Apply