BANKRUPT! Famed Hamptons Gallery Owner Assets

BID PRICE: Each buyer must have an assigned Buyer?s Number prior to bidding. The highest bidder on a lot shall be the buyer of the lot. The purchase price shall be the sum of 1) the price at which the item is sold (hammer price), 2) a 22% buyer?s premium plus 3) sales tax unless the purchaser is exempt by law from such taxes. ACCEPTANCE OF BID: As each item is sold, the Auctioneer shall announce the winning bid and the Buyer?s Number of the winning bid. Failure of the person assigned to the Buyer?s Number to object at the time of announcement shall constitute an acknowledgment of the bid and purchase. The purchaser is legally liable to pay for the item or pay the difference if we must re-offer and sell the item for a lower price. REGULATION OF BID: The Auctioneer shall regulate the bidding and shall be the sole arbiter of any disputes. We reserve the right to withdraw property at any time before the sale and reject a bid from any bidder. PAYMENT AND PICKUP: Invoices must be paid in full and merchandise picked up within three days of the date of sale. A storage fee will be charged if merchandise is left longer than two weeks at a rate of $10.00 per lot per day. If the property that has been paid for is left longer than 25 days from the last day of the auction, it will be considered abandoned and resold to recoup storage fees. We are not responsible for shipping, but if packing and handling of purchased lots is done by us, it is done at the entire risk of the purchaser. A refundable deposit may be required. ABSENTEE BIDS: Absentee bids are accepted until fifteen minutes prior to the start of the auction for all lots in the auction. Absentee bids for later lots may continue to be accepted according to announcements or signs posted on the office window. A deposit may be requested on absentee bids over $4000.00. The auctioneer will bid the absentee bid against floor bidders. In the event of a tie, the floor bidder shall prevail. Modauctions LLC, assumes no responsibility for failure to execute any bid for any reason and absentee bids are made subject to the Conditions of Sale. Absentee bidders are requested to call after 11 am on the first weekday following the sale to find out if they were successful. NO TRANSFERS: No lots shall be sold, transferred, or assigned to anyone other than the winning bidder prior to the removal of the lot and only the winning bidder shall remove the lot. RISK OF LOSS: In the event, delivery cannot be made because of loss due to fire, theft, or any other reason, Modauctions LLC, shall only be liable for the return of any deposits or payments made by the purchaser. NO WARRANTY: All items sold ?as is and where is? Modauctions LLC, its agents and employees, and the consignor do not warrant any lot to be merchantable or to be suited for any purpose and they do not assume any risk, liability or responsibility for any person as to authenticity, genuineness, culture, source, origin, attribution, period, purpose or measurements of any lot. These conditions may not be altered or modified except by an instrument in writing, signed by auctioneer and buyer. Any condition statement is given as a courtesy to a client, is only an opinion and should not be treated as a statement of fact. Modauctions LLC, shall have no responsibility for any error or omission. 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. APPLICABLE LAW: These Conditions of Sale shall be governed by and construed, interpreted, applied and enforced in accordance with the domestic laws of the State of Nevada as applied to contracts entered into by residents of Nevada and to be performed entirely within the State of Nevada. By participating in any auction subject to these Conditions of Sale, it is agreed that all parties (including but not limited to, the Gallery, bidders, and purchasers) consent irrevocably and exclusively to venue in the State of Nevada. ATTORNEY?S FEES: In the event of a dispute, action, arbitration or other legal proceeding arising from the enforcement or interpretation of these Conditions of Sale, in addition to any other relief permitted by law, the prevailing party shall be entitled to recover their reasonable attorney?s fees and costs. PAYMENT: Cash, cashier?s check, wire transfer, PayPal, personal check (items may be held until the check clears), and ATM, MasterCard, Discover & VISA accepted, but not for vehicles. International credit cards are not accepted for any payment. If any legal action is commenced to enforce these Conditions of Sale, the prevailing party shall be entitled to recover its reasonable attorney?s fees and costs. Time is of the essence.