Art Auction of Originals and Reproductions

CONDITIONS OF SALE 1. Lots sold to the highest bidder: The highest bidder acknowledged by the auctioneers shall be the buyer. Under no circumstances are the consignors or the consignors agents, or persons acting on behalf of the consignors permitted to bid on their consigned property. The auctioneer has the right to reject any bid, to advance the bidding at his/her absolute discretion in the event of any dispute between bidders or any other issue with respect to the highest bidder, to determine the successful bidder. In the event of any dispute after the sale, Minds Island, LLC, a Delaware Limited Liability Company (herein after referred to as Minds Island) record of final sale shall be conclusive. 2. LOTS ARE SOLD AS-IS. ALL PROPERTY IS SOLD AS-IS AND ALL IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS ARE EXCLUDED. NEITHER WE, NOR THE CONSIGNOR (S) OR OUR ASSOCIATES MAKE ANY REPRESENTATION, EXPRESSED OR IMPLIED, OR GUARANTEE IN CONDITION, SIZE, PROVENANCE, MEDIUM, SIGNATURE, INSCRIPTION, EXHIBITION (S) IMPORTANCE, RARITY, COUNTRY OR ORIGIN, AGE, GENUINENESS, SUBJECT HISTORICAL RELEVANCE, MONETARY OR OTHER VALUE, FRAMING OR LACK THEREOF, MOUNTING, CONSERVATON, COLOR (S), PALATTE, EDITION, STYLE, LABEL OR OTHER DESCRIPTION. NO STATEMENT IN THE CATALOGUE, BROCHURE OR IN THE BILL OF SALE OR INVOICE OR STATEMENTS MADE BY THE AUCTIONEER DURING THE AUCTION OR ELSEWHERE SHALL BE DEEMED SUCH A WARRANTY OR REPRESENTATION OR AN ASSUMPTION OF LIABILITY. NO EMPLOYEE OF MINDS ISLAND IS AUTHORIZED TO MAKE, ON OUR BEHALF OR THAT OF A CONSIGNOR, ANY REPRESENTATION OR WARRANTY, ORAL OR WRITTEN, WITH RESPECT TO ANY PROPERTY 3. Buyer's obligation to inspect each item: Buyer's are strongly encouraged to view all items before the auction. On-line buyers must satisfy themselves with each lot, before placing any bid. Although there is no legal requirement that each buyer inspect lots prior to sale, the failure to inspect may constitute a waiver of that buyer's complaint that the item as not delivered in a condition equal to the existent condition at the auction, as described in section 14 of these Condition of Sale. 4. ALL SALES FINAL. Notwithstanding any other terms of these conditions, any and all refunds shall be given at the sole discretion of MINDS ISLAND. Refunds requested on the grounds of authenticity must be made with 10 days of the auction date, and such requests must be accompanied by at least one supporting statement in writing from a recognized authority stating that the painting or art sold is incorrect or is not work of the artist. A recognized authority shall be defined as a person who has authored, edited, or substantially contributed to a monograph on the artist, a person who has curated, organized or substantially contributed to a solo exhibition of the artist, a person who has represented the artist's estate or someone who worked closely with the artist while they were alive and in any of the above instances physically handled the works of the period, medium and subject matter in question during the course of their duties. Please note that dealers who advertise to buy a wide range of artists, appraisers and representatives of other auction firms do not qualify as authenticators of individual artists unless they have had specific involvement with an artist's work as specified above in addition to their daily duties. Any lot in question must be returned to MINDS ISLAND in the exact same condition as when sold. Please be advised that MINDS ISLAND does not grant extensions to refund considerations based upon authenticity due to shipping delays. There are no exceptions to this refund policy. 5. MINDS ISLAND reserves the right to withdraw any lot before or during the sale. 6. A buyer's premium of 10% will be applied to all purchases made via www.liveauctioneers.com and/or www.ebay.com 7. Lots subject to a reserve price. Some lots in the auction are subject to a reserve, which is a confidential minimum price below which the lot will not be sold. While the actual auction-starting bid may be below the reserve, in no case will the reserve exceed the low estimate. MINDS ISLAND shall act to protect the reserve by bidding through the auctioneer. The auctioneer may continue to bid on behalf of the seller up to the amount of the reserve, either by placing consecutive bids or by placing bids in response to other bidders. The lots offered may sell at prices above or below the pre-sale estimates 8. Winning Bid Constitutes an Immediate Transfer of Title. Title of the offered lot shall pass to the buyer upon fall of the auctioneer's hammer and announcement of the auctioneer that the lot had sold, subject to compliance by the buyer with all other Conditions of Sale. The buyer shall forthwith assume full risk and responsibility for the lot and shall pay the full purchase price. In addition, the buyer may be required to sign a confirmation of purchase or abide by any other financial terms that MINDS ISLAND deems necessary to protect the interests of the consignor. 9. All purchases shall be paid for in full within 48 hours of the sale. MINDS ISLAND accepts Visa and MasterCard. MINDS ISLAND may hold shipment or physical transfer of sold lot(s) until payment is confirmed. 10. Absentee, Phone and Internet Bidders: All bids which are submitted to MINDS ISLAND via telephone, internet or fax shall be administered and executed by MINDS ISLAND for the convenience of the bidder not present at the auction. MINDS ISLAND shall not be liable for failing to execute such bids or for errors relating to our execution of such bids. Bidding on any lot, whether in person, by agent, order bid, telephone or by other means constitutes highest acceptance of these Conditions of Sale. 11. Buyer's breach of condition of sale. If the buyer fails to comply with any of these conditions of sale, MINDS ISLAND may, in addition to asserting all remedies available by law, including the right to hold such defaulting buyer liable for the purchase price, buyer's premiums and taxes, (i) cancel the sale, retaining as liquidated damages any payment made by the buyer, (ii) resell the property without reserve at public auction or privately, after seven days notice to buyer. or (iii) take such action, as we deem necessary or appropriate. If MINDS ISLAND resells the property, the original defaulting buyer shall be liable for the payments of any deficiency in the purchase price and all costs and expenses, including storage, transportation, resulting insurance fees, reasonable attorney's fees, commissions, incidental damages and all other charges due hereunder. In the event that such bidder pays a portion of the purchase price for any or all lot(s) purchased, MINDS ISLAND shall apply the payment received to such lot(s) as MINDS ISLAND deems appropriate. MINDS ISLAND shall have the benefit of all rights of a secured party under the Uniform Commercial Code adopted in the State of California where the auction is held. 12. Governing Law, Venue and Jurisdiction: The rights and obligations of both parties with the respect to the Condition of Sale and the conduct of the auction shall be governed and interpreted by the laws of the State of New York. BY BIDDING AT AUCTION, WHETHER IN PERSON OR BY AGENT OR OTHER MEANS, THE BUYER SHALL BE DEEMED TO HAVE CONSENTED TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF SUCH STATE AND THE FEDERAL COURTS SITTING IN SUCH STATE. The buyer expressly agrees that (i) neither MINDS ISLAND nor the seller shall be liable, in whole or in part, for any special, indirect or consequential damages, including, without limitation, loss of profit, and (ii) the buyer's damages, if any, limited exclusively to the original purchase price paid for the lot. 13. Delivery of Lot(s) Sold: MINDS ISLAND will not be held liable for any damage sustained in connection with delivery of lot(s). 14. The BUYER shall be responsible for the full cost of shipping and insuring the lot(s). While MINDS ISLAND may coordinate the packing and handling of purchased lots the expense and risk is that of the Buyer. MINDS ISLAND assumes no responsibility for acts, or omissions in such packing or shipping. The catalogue contains estimates of shipping costs based on domestic US delivery via UPS ground services, these figures are estimates and the final cost of shipping may be higher. Any questions regarding shipping arrangements and costs should be directed to info@mindsisland.com 15. Notices, Demands and Refunds: Any demands for refunds, problems with the lot(s) sold or notices of any kind concerning the auction shall be in writing and sent to: MINDS ISLAND, LLC, 54 Ludlow Street, Suite 4, New York, NY 10002.

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