Great Estates of Texas - No Reserve - Auction

PURCHASES: Auction purchases must be paid for within seven (7) days of the date of the sale. Invoices will be emailed to each buyer including a written description and hammer price of each purchase as well as any applicable buyer's premium and tax. Texas residents are charged at our local San Antonio sales tax rate unless we are provided a copy of a valid Texas state resale certificate. Out of state residents are generally not charged Texas sales tax. We accept the following forms of payment: - Cash - Credit cards (NOT accepted for purchases >$5,000 without prior approval) - Personal checks / certified checks (funds must clear bank before purchases are released) - Wire transfers - Money orders NON-PAYMENT: By Texas law a winning auction bidder automatically enters into a legal and binding purchase contract with the auction house. In the rare case when a successful bidder fails to pay for their purchases within the time period allowed, Cosas Auction will pursue available legal steps to protect its interests and may block the bidder from future auction participation. Reasonable interest and storage fees may also be added to past due invoices. COLLECTION OF ITEMS: Local pickup is available but must be scheduled. The buyer must arrange for collection of a purchased lot within seven (7) days of the date of the auction. Cosas Auction will not release auction purchases until we have received payment in full (and until any checks have cleared the bank). If the buyer pays for their purchases but does not collect their items within thirty (30) days of the auction, the buyer will incur a storage fee of $5 per day. We will not release purchased lots to the buyer until all such charges have been paid in full. If a purchased lot is paid for but not picked up within 2 months the buyer authorizes Cosas Auction, upon notice, to arrange a resale of the item by auction or private sale, with estimates and a reserve set at Cosas Auction's reasonable discretion. The proceeds of such sale will be applied to pay for storage charges and any other outstanding costs and expenses owed by the buyer to Cosas Auction and the remainder will be forfeited unless collected by the buyer within 1 year of the original auction.