PART 2 - SELECT QUALITY ESTATE AUCTION

AUCTION TERMS REGARDING ONLINE BIDDING As Of 2/9/19: STANDARD CONDITIONS OF SALE: These Conditions of Sale are binding on all purchasers at Auction. Please read carefully. By registering to bid at auction, in person, or through an agent, by absentee bid, or telephone or any other means including the Internet and e-mail, you agree to be bound by these Conditions of Sale (and changes made as noted below.) All property and every lot for sale in our catalogue is offered subject to the following terms and conditions, along with any changes that may be published or announced prior to or during a sale by George Cole Auctions, Inc. (GCA). The terms "GCA" "us," "we," or "our" as used herein all refer to George Cole Auctions, Inc. Unless otherwise indicated in the catalog or at time of sale, GCA acts at all times solely as the agent for the seller. All sales are As-Is, Where-Is. All sales shall be deemed to occur in New York regardless whether by telephone, mail or through the Internet or the physical location of the buyer. DEFINITIONS: -HAMMER PRICE: The highest bid received for a lot upon the fall of the auctioneer's hammer. -BUYER'S PREMIUM: The amount paid by the buyer as a percentage of the hammer price and in addition thereto. -PURCHASE PRICE: The aggregate of the hammer, buyer's premium and applicable taxes or other fees, if any, as may be required by law. -RESERVE: The minimum price at which the lot may be sold. -BUYER: The person or entity who buys property at auction or private sale. -CONSIGNOR: The seller, or the seller's representative, on behalf of whom we are selling the Property. -LOT: The single item or group of items offered by us for sale. -PROPERTY: The item or items comprising an auction lot being offered for sale. TERMS OF SALE: a. 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 Conditions 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 seventy-two (72) hours of the close of the auction. Sale is not final and property will not be released to Buyer until good funds for all amounts due, are received by GCA. No lot shall be transferred by Buyer to another person until the sale is final. In the event of partial payment for any lot or lots we shall apportion charges and apply payments, in our sole discretion. The Buyer grants GCA a security interest in the purchased Property, and we may retain as collateral any property purchased and any funds in our possession, to secure a Buyer's obligations to us, if any. We retain the rights of a secured party under the New York Commercial Code. All fees, taxes, premiums or other sums due and not paid pursuant to this paragraph shall be subject to storage fees and will bear interest at 1.5 % per month from the 8th day following the sale to the date paid in full. b. Collection of Property: Upon transfer of title, Buyer assumes full responsibility, including risk of loss and damage, for the Property. Purchased property shall be removed at Buyer's expense according to the shipping policies published herein. If, for any reason whatsoever, property is damaged between the fall of the hammer and the pick up by buyer or agent of the buyer, GCA shall be liable to the Buyer only for the Purchase price paid by the Buyer and in no event shall we be liable for incidental or consequential damages, including, but not limited to, business interruption or loss of profit. THE AUCTION PROCEDURE: a. REGISTRATION: Bidders must register in advance to bid at auction. -(a) If by mail please comply with, sign and send back the requisite form or absentee bid. -(b) To telephone bid, Bidders must complete, sign and fax a copy of the Telephone Bid Registration Form, which is available only by calling GCA. Telephone lines are limited, and available on a first-come, first-serve basis. Registration to bid by telephone must be received at least one half hour prior to the start of the auction. -(c) When intending to bid in person, pre-register at the desk and obtain a bidding paddle. The auctioneer may refuse to recognize any person not registered and not having a paddle number. GCA reserves the right at its sole discretion, to refuse anyone the right to register and participate at an auction. b. MODIFICATIONS - We may, at the commencement of, or during the Auction, announce changes in or modifications to the Lot Order, Lot Structure, Combine Lots, Split Lots, Modify the Catalog, Modify Conditions of Sale or descriptions of Property. Modifications may make a lot difficult or impossible to sell online. c. ABSENTEE BIDS - For a Buyer's convenience, absentee bids are encouraged and will be accepted, when properly executed and submitted in a timely manner. However, we neither accept any responsibility to an absentee bidder, nor any liability whatsoever for a failure to execute the absentee bid for any reason. In the event that identical multiple absentee bids are the highest bids received for the same lot then the earliest received of the competing absentee bids shall prevail at that bid amount. d. AUCTIONEER'S DISCRETION - Auctions can be fast paced and there are many moving pieces. Many times, snap decisions are made, and mistakes can be made easily with an errant click or with a misspeak. We have been in business over 35 years and have been recognized as the Best Auction House in the Hudson Valley 16 years running. However, we are only human and we realize now that mistakes have been made and in advance, we realize that mistakes will be made by our staff in the future. We understand from experience that losing a lot because of a clerking error can be emotionally impacting and we work hard to both avoid mistakes, and still keep up the fast-paced exciting atmosphere that we are known for. Regarding resolution for discrepancy and errors, the Auctioneer has the absolute discretion to; -(a) pass a lot or withdraw it from sale at any time prior to its actual sale; -(b) refuse to recognize any bidder in the interest of time or for any other reason; -(c) refuse to recognize any bid in the interest of avoiding trouble collecting, maintain a peaceable auction event, or for any other reason; -(d) resolve any dispute between bidders or resolve any doubtful bid by deciding who is the successful bidder or nullifying the auction of the lot and reoffering it for sale. The Auctioneer's decision is binding as to disputes arising at auction. If a dispute arises post sale, our records of the sale shall be conclusive. Both the Auctioneer and GCA shall be without any liability whatsoever resulting from the exercise of the discretion referred to herein. -(e) resolve any issue occurring from any error made by auctioneer, recording clerk, and or any other auction staff. e. RESERVES - All Property is offered for sale subject to a Reserve unless otherwise stated by us at time of sale. GCA may protect the Reserve by an initial bid or continued bidding on behalf of the consignor. Neither the consignor nor an agent or representative of the consignor is allowed to bid on their own property. POST AUCTION: PAYMENT: Payment may be made in person, certified check, or through Live Auctioneers payment processing only... No lot shall be transferred by Buyer to another person until the sale is final. For in person pick up, winning bidders may also pay in cash, certified funds, or with major credit card (Visa, Mastercard, Amex, Discover). There is a 3.8% discount for cash or certified check. Sorry but we no longer accept livestock or knit mittens as payment. :-) Winning Bidder must complete payment in full for items won within 72 hours of close of auction. Upon bidder's failure to complete payment within 72 hours, the auctioneer will have the authority to charge a late fee and allow the bidder to complete the purchase, charge the winning bidder a restocking fee of 5% of the hammer price and nullify the bidder's winning status, award winning status to another bidder, and/or take any other action deemed in the consignor?s best interest. Any winning bidder that fails to complete payment will be liable for any fees, losses or damages incurred by their failure to complete payment in full within 72 hours. TAKING POSSESSION OF ITEMS WON: ++++++++++++++ ALL MERCHANDISE IS SOLD AS IS, WHERE IS... We are in the selling business, not the packing, or shipping and handling business. We do not source, or hire, or charge for, or pay for shipping or delivery, The Buyer pays any cost related to shipping directly to the shipper. Three options: 1). Pick Up In Person 2). Authorize Someone To Pick Up Merchandise For You 3). Hire UPS Store To Package And Ship To You UPS STORE: At buyers request, and only following payment in full of auction merchandise, our staff will bring merchandise to the local UPS Store for you. Buyer must make packing, shipping and insurance arrangements at his/her own expense directly with UPS Store... For larger items, we recommend getting an estimate prior to purchasing. UPS STORE Address: 6565 Spring Brook Ave #8, Rhinebeck, NY 12572 - UPS STORE PHONE: (845) 876-3357 UPS STORE PHONE NUMBER IS (845) 876-3357 UPS STORE PHONE NUMBER IS (845) 876-3357 UPS STORE PHONE NUMBER IS (845) 876-3357 UPS STORE PHONE NUMBER IS (845) 876-3357 UPS STORE PHONE NUMBER IS (845) 876-3357 Hours: Mon-FRI - 8AM-6:30PM EST, Sat - 9:30AM-3PM EST, SUN-Closed... As Per Live Auctioneers Shipping recommendations: 1). Shipment can only be made to the Name and Address given to Live Auctioneers and then provided to us on the Payment Received Notification sends us following your payment completion. 2). Shipping Must Include Signature Required Delivery Option... If You Are Not Willing To Receive A "Receipt Signature Required" Delivery, Then Please Do Not Bid. 3). Once delivery service is ordered the delivery to name and address may not be changed. PLEASE NOTE: UPS STORE IS NOT A STORAGE FACILITY: Time is of the essence as to any merchandise delivered to UPS Store for you. Communication with and Payment to UPS STORE regarding packing and shipping orders in a timely manner is essential. Packing & Shipping Orders and Payments not processed after one week will be moved to storage and subject to a $10 per day per lot storage fee, which will be made payable directly to GCA prior to release of merchandise, unless other arrangements are made. B). DELIVERY/MOVING SERVICE: Buyer's electing to hire outside Delivery/Moving/Trucking service, should make it clear to their shipping service that there are specific hours for pickup at our auction hall and the service should not have expectations that they can dictate pickup timing. We will work to grant appointment requests as much as possible, but we are making it clear in advance that we are under no obligation to do so. Best Time Is Generally, Mon-Fri Noon-4:45pm, except any "Preview Friday", (that is the day immediately prior to an auction). Buyer needs to contact GCA with the name of the delivery/trucking/moving service, IN ADVANCE OF PICKUP attempt to ensure merchandise is given to the approved service. NO MERCHANDISE WILL BE RELEASED WITHOUT PROPER AUTHORIZATION FROM YOU. Delivery/Trucking/Moving service must call ahead to schedule an appointment so that we can be sure your merchandise is accessible, proper authorization from you has been recevied and your paperwork is in order on our end, and the pickup will be smooth. If they do not call ahead, we will not be prepared for them and the chances for delays or required return trip(s) increases. Shippers, Truckers, Movers need to bring their own helpers, padding, tie downs and any other needed packing/moving supplies. Please discuss with your shipper in advance: Any of your concerns about safe handling, careful packing, and what happens in the event of damages. Time is of the essence as to any merchandise being picked up for delivery/trucking/moving for you. Any paid merchandise not claimed and removed after one week will be moved to storage and subject to a $10 per day per lot storage fee, which will be made payable directly to GCA PRIOR TO RELEASE OF MERCHANDISE, unless other arrangements are made. Any paid merchandise not claimed and removed after one month will be deemed abandoned by the buyer and will be disposed of. Any revenue generated from disposal of such merchandise will not be credited as it was abandoned. C). PICK UP DIRECTLY BY WINNING BIDDER: Please call ahead to schedule an appointment so that we can be sure your merchandise is accessible, your paperwork is in order on our end, and your pickup will be smooth. If you do not call ahead, we will not be prepared for you and the chances for delays or required return trip(s) increases. Please be aware, that there are specific hours for pickup at our auction hall and the winning bidder should not have expectations that they can dictate pickup timing. We will work to grant appointment requests as much as possible, but we are making it clear that we are under no obligation to do so. Generally, Mon-Fri Noon-4:45pm, except any "Preview Friday", (that is the day immediately prior to an auction). Buyers need to bring their own helpers, padding, tie downs and any other needed packing/moving supplies. We generally have an assortment of used grocery store cartons and newspaper for packing small items. We do make available the help of our staff and whatever used newspaper and boxes we have, but are under no obligation to provide help or packing supplies. If you have a specific request, or want to confirm supplies are available, you can call in advance and we will do our best within reason to accommodate you. Any paid merchandise not claimed and removed after one week will be moved to storage and subject to a $10 per day per lot storage fee, unless other arrangements are made. Any paid merchandise not claimed and removed after one month will be deemed abandoned by the buyer and will be disposed of. Any revenue generated from disposal of abandoned merchandise will NOT be credited as it was abandoned. DISCLAIMER OF WARRANTIES: Except for warranty of title, neither we nor the Consignor make any warranties, guarantees or representation, express or implied, with respect to the Property, including, but not necessarily limited to, any implied warranty of "fitness for purpose" or "merchantability." Any and all statements and descriptions in any catalogue or elsewhere by GCA, relating to age, attribution, authenticity, size, genuineness, provenance, historical relevance or significance, physical condition, importance, quality, quantity, rarity, period, culture, source or origin, are presented as statements of qualified opinion only. GCA's disclaimer of liability covers information contained in catalogues, and all other printed material published by us, including condition reports. Buyers assume the responsibility to inspect the Property and make their own decision as to the nature, quality and value of the Property. Neither GCA nor the Consignor make any warranty or representation with regard to the existence of or the transfer of intellectual property rights, except and to such extent as may, from time to time, be explicitly stated. No employee of GCA is authorized to nor shall make any warranty or representation on GCA's behalf, except as stated in the catalog or in any written addendum. ESTIMATES OF VALUE - All estimates of value as published in our Catalogues or elsewhere are statements of qualified opinion as to the range of the price a willing buyer might pay for the Property at auction. The actual price paid at auction or subsequently, may vary substantially from the estimates. GCA shall not be liable for any such differential. BUYER'S DEFAULT - If a Buyer fails to pay for purchased Property, or otherwise does not comply with these Conditions of Sale, the Buyer shall be in default. In addition to all remedies available in law, to GCA 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, without reserve. 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. RESCISSION - The sole and exclusive remedy, available only to the original buyer, is the limited right of rescission set forth herein. GCA will cancel the sale of Property if the original buyer establishes to our satisfaction that there has been a breach of the Consignor's warranty of title, or that the identification of Authorship* of the Property as set forth in Bold Type Heading is not substantially correct, based on a fair reading of the Catalogue (as may be amended by posted or announced changes.) IN ALL INSTANCES, YOU MUST GIVE WRITTEN NOTICE TO US WITHIN SIX (6) MONTHS OF THE SALE OF THE PROPERTY, SETTING FORTH THE BASIS FOR YOUR CLAIM AND, AT YOUR SOLE EXPENSE AND RISK, RETURN THE PROPERTY IN QUESTION TO GCA WITHIN SEVEN (7) DAYS AFTER NOTICE IS GIVEN AND IN THE SAME CONDITION AS WHEN SOLD. Upon review of the claim and the property, if we are satisfied with the bases for your claim and the property is in the same condition it was in when sold, GCA 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 GCA's sole discretion, GCA 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 to you or to GCA, we shall disclose the Consignor's identity and assign to you any and all rights GCA may have against the Consignor. Any and all liability GCA may have as agent for the Consignor shall thereupon terminate. BUYER EXPRESSLY UNDERSTANDS AND AGREES THAT GCA SHALL HAVE NO OTHER LIABILITY TO THE BUYER EXCEPT FOR THE RETURN OF THE PURCHASE PRICE AND THAT IN NO EVENT SHALL GCA BE LIABLE FOR ANY DAMAGES, INCLUDING BUT NOT LIMITED TO INCIDENTAL, CONSEQUENTIAL OR COMPENSATORY DAMAGES OR LOSS OF PROFIT OR BUSINESS OPPORTUNITY. *Authorship refers to the maker or creator of the Property, and the period, social culture, and origin of the Property as stated in the Bold Type Heading for a given lot in our catalogue. It does not refer to the descriptions which may be contained in the information below the Bold Type Heading. MISCELLANEOUS: a. Modification: No modification or amendment of the Conditions of Sale shall bind GCA unless contained in a writing signed by GCA, except as may be posted or published as noted above or verbally announced at time of sale. b. Severability: If, for any reason, any part of the Conditions of Sale is held to be invalid or unenforceable, the remaining portion shall be valid and enforceable. c. Successors and Assigns: The Conditions of Sale shall be binding on all the heirs and assigns of the Buyers and bidders and inure to the benefit of GCA's successors and assigns. d. Jurisdiction, Venue, Choice of Law: Dispute resolution shall occur in Red Hook, Dutchess County, New York, USA. The provisions of the Conditions of Sale will be construed and disputes determined by application of New York Law, without regard to conflicts of law. e. Notice, Service of Process: Buyers agree to accept all notices and service of process relating to dispute resolution at the address provided by Buyer on any registration forms required to be executed as a condition of bidding in our auction.