Automobilia Auction

TERMS AND CONDITIONS OF SALE<br /> The following are the terms and conditions that Aurora Galleries<br /> International, Inc. (“Aurora”), as an auction house, establishes with<br /> consignor as well as the terms and conditions under which Aurora,<br /> acting as an agent on behalf of consignors, contracts with buyers. Both<br /> buyers and consignor/sellers should read the terms and conditions<br /> carefully.<br /> 1. Definitions:<br /> Buyer: The Buyer is the person making the highest bid accepted by the<br /> Auctioneer. Buyers may also be Consignors who retain their lots pursuant to<br /> their consignment agreement with Aurora.<br /> Seller: The consignor of lot(s) sold at Auction.<br /> Lot: Item consigned with Aurora for sale at Auction, and identified by an<br /> assigned lot number in a Catalogue.<br /> Hammer Price: The dollar amount of the winning bid accepted by the<br /> Auctioneer for a lot not including the Buyer’s commission.<br /> Reserve: The confidential dollar amount below which a lot cannot be sold, as<br /> contracted with the consignor/seller prior to Auction.<br /> Buyers Commission: A charge of seventeen and one-half percent<br /> (17.5%) of bids submitted by Buyers either live or via the mail, fax<br /> or telephone OR twenty and one half percent (20.5%) of bids<br /> submitted by Buyers via the Internet, of the hammer price of the lot.<br /> This commission is added to the hammer price and other related fees (if<br /> applicable) and totaled on the Buyers invoice.<br /> 2. Auctioneer:<br /> This is a public Auction sale conducted by Aurora Galleries International,<br /> Inc. and a bonded Auctioneer, (hereinafter referred to as “Auctioneer” and/<br /> or “Aurora”).<br /> 3. Auction:<br /> The Auction is a contract between Buyer and Seller for the purchase/sale of<br /> the lot(s). This Auction is conducted and transacted only in United States<br /> dollars, payable in cash in U.S. dollars through a United States bank located<br /> within the country.<br /> Aurora’s Auctions take place in a place determined solely by Aurora to be<br /> conducive to the professional control of the sale and protection of<br /> property. For this reason, Aurora retains the right, at its sole discretion, to<br /> refuse admission to anyone wanting to participate in the Auction. In<br /> addition, Aurora reserves the right to record the Auction via electronic<br /> media (sound, video, etc.) for its own internal use only; no copies of these<br /> recordings will be made available to consignors or Buyers unless Aurora, in<br /> its sole discretion, chooses to do so.<br /> 4. Buyer Registration:<br /> All potential Buyers desiring to participate in the Auction sale must have a<br /> Catalogue and must register to bid prior to the Auction by completing a<br /> Buyer Registration form included in the Catalogue. It is the responsibility of<br /> the Buyer to accurately and legibly complete the Buyer Registration form<br /> with the following information:<br /> Ø Name, Shipping and Billing Address(es), City, State, Country, Zip<br /> (no P.O. Boxes)<br /> Ø Telephone and/or Fax Number & Email<br /> Ø Signature and date on the Registration Form; Buyer understands<br /> that unsigned registration forms will not be accepted and by<br /> signing the Registration Form the Buyer agrees to abide by the<br /> “Terms & Conditions of Sale.”<br /> Ø Credit Application –Buyer must provide Aurora authorization to<br /> run a credit check and his/her social security number.<br /> Ø References – If Buyer has not established credit with<br /> Aurora, Buyer agrees to send a 25% deposit, or furnish<br /> credit references with contact information that can be<br /> verified before the Auction.<br /> Every Buyer must provide a valid credit card for registration. Every<br /> Buyer must be prepared to show ID upon registration. Aurora<br /> retains the right to approve all Buyers participating in the Auction.<br /> Buyers not approved by Aurora will not be permitted to participate<br /> in the Auction.<br /> By submitting a bid, the Buyer acknowledges receipt of the<br /> Catalogue, that the Buyer has read the Terms and Conditions of<br /> Sale and the descriptions for the lot(s) on which they have bid, and<br /> agrees to adhere to the Terms and Conditions of Sale. The Buyer<br /> acknowledges that the invoice describing a lot by number<br /> incorporates by reference the Catalogue and Terms and Conditions<br /> of Sale. This agreement shall be deemed to have been made in<br /> California.<br /> Buyer will not be registered until (a) signed “Buyer Registration Form” and<br /> “Absentee Bid Sheet” (if appropriate) forms are received by Aurora at least<br /> forty-eight (48) hours before the Auction and (b) Aurora approves Buyer<br /> for participation in the Auction. Buyer is solely responsible for accuracy of<br /> completion of the Registration Form and Bid Sheet. Aurora will not accept<br /> “Buy” or “Unlimited” bids.<br /> Dealers must present a nonreturnable photocopy of their resale<br /> cards at registration, which copy will be retained by Aurora and<br /> must complete and sign an “Exempt From California Sales Tax”<br /> form.<br /> 5. Bidding:<br /> a) General<br /> Bidding in this sale constitutes acceptance by the Buyer of all the Terms and<br /> Conditions of Sale stated herein.<br /> All items shall be sold in independent lots to the Buyer at the highest bid as<br /> determined by the Auctioneer. The Auctioneer/Aurora may accept or<br /> decline any bid, challenge any bid or bidding increment, at the Auctioneers/<br /> Aurora’s exclusive discretion. Bids must be for an entire lot and each lot<br /> constitutes a separate sale. No lot will be broken up unless otherwise<br /> permitted by the Auctioneer. Lots will be sold in their numbered sequence<br /> unless Auctioneer/Aurora directs otherwise. It is unlawful and illegal for<br /> Buyers to collude, pool, or agree with another Buyer to pay less<br /> than the fair value for lot(s). Buyers in the Sale acknowledge that<br /> the law provides for substantial penalties in the form of treble<br /> damages and attorneys’ fees and costs for those who violate these<br /> provisions.<br /> If a dispute arises, Aurora shall have the right to rescind any acceptance of<br /> the bid and place the lot(s) for Sale again. Aurora’s decision shall be final.<br /> For the Mail and Internet Buyer’s protection, no “unlimited” or “buy” bids<br /> will be accepted. When identical bids are received for a lot, preference is<br /> given to the first bid received as determined by the Auctioneer/Aurora. A<br /> mail bid will take precedence over an identical floor bid; a Floor Buyer and<br /> Telephone/Internet Buyer must bid higher than the highest mail bid to be<br /> awarded any lot. Auctioneer/Aurora reserve the right to refuse any bid, to<br /> reduce any mail bid received, to open the bidding of a lot at any level<br /> deemed appropriate by Aurora/Auctioneer and to determine the prevailing<br /> bid, at Aurora’s sole discretion.<br /> Aurora recommends the Buyer research the market value of lots the Buyer<br /> is interested in bidding on by checking price histories, price lists, appraisers<br /> or other alternative price guidelines prior to placing a bid.<br /> Lot(s) may carry a reserve, which is a confidential price or bid below which<br /> the Auctioneer will not sell an item or will repurchase on behalf of the<br /> Consignor or for Aurora.<br /> The Auctioneer may open or accept the bidding on any lot by placing a bid<br /> on behalf of the Consignor or his or her agents or a Buyer by mail,<br /> telephone, Telefax, Internet or any other participant in the sale.<br /> 68 Aurora Galleries International, Inc. 8 6 6 - 9 2 8 - 7 6 7 2 Www.auroragalleriesonline.com<br /> If Buyer bids through an agent, the agency must be disclosed in writing to<br /> Aurora prior to the Auction Sale. If the agency is not disclosed, Aurora may<br /> choose to rescind the sale and otherwise the benefits of the warranty shall<br /> not transfer to the undisclosed Buyer and instead shall be limited to the<br /> agent.<br /> All Buyers who examine lot(s) prior to the Auction Sale, personally assume<br /> all responsibility for any damage that Buyer causes while handling or<br /> examining lot(s). Aurora has exclusive discretion in ascertaining the value<br /> of any damage caused, which shall be promptly paid by the responsible<br /> Buyer.<br /> Pursuant to a separate agreement with Aurora, Consignors or their agents<br /> may be permitted to bid on their own lots in the Auction sale and may<br /> receive a rebate commission in whole or part if successful. Where the<br /> Consignor has repurchased a lot and the lot is either returned to the<br /> Consignor or otherwise dealt with or disposed of in accordance with the<br /> Consignor’s direction, or pursuant to contractual agreement, Aurora<br /> reserves the right to so note in the prices realized or to omit a price from<br /> the price realized list.<br /> Aurora reserves the right to bid on its own account at any Auction sale.<br /> Aurora reserves the right to include in any Auction sale its own<br /> consignments as well as consignments from affiliated or related companies,<br /> principals, officers or employees. Aurora may have direct or indirect<br /> interests in these, or other items, and may collect commissions. THIS<br /> PARAGRAPH SHALL BE DEEMED A PART OF THE DESCRIPTION OF<br /> ALL LOTS CONTAINED IN THE CATALOGUE.<br /> Buyer acknowledges and agrees that Aurora may not be required to pay a<br /> Buyer’s Commission, or other charges and/or fees that other Buyers may be<br /> required to pay and may have access to information concerning the lot(s)<br /> that is not otherwise available to the public, for example a Consignor’s<br /> reserve. Any claimed conflict of interest or claimed competitive advantage<br /> resulting therefrom is expressly waived by all participants in the Auction.<br /> AURORA IS NOT RESPONSIBLE FOR ANY MISTAKES IN<br /> BIDDING. Buyer is responsible to bid on the correct lot(s) and<br /> acknowledges that the Buyer is willing and able to pay the maximum bid<br /> amount bid PLUS the Buyer’s Commission and any and all related fees and<br /> charges. Once the hammer has fallen and the Auctioneer announces the<br /> winning Buyer, the Buyer is unconditionally responsible to pay for the lot,<br /> even if the Buyer has made a mistake.<br /> Buyer acknowledges that, in the instance of an error/discrepancy<br /> between the photograph of a lot and the written description in the<br /> Catalogue, in all instances, the written description of the lot(s)<br /> shall be construed as the accurate representation of the lot. All<br /> written descriptions in the Catalogue are subject to Errata Corrections,<br /> posted by Aurora on the Internet or printed and distributed<br /> by Aurora at the Auction or with the Catalogue. Buyer acknowledges<br /> that it is the Buyer’s responsibility to obtain a copy of the<br /> errata sheet prior to bidding. Buyer may not revoke a Bid based on<br /> an error in the description for a lot for which an Errata Correction<br /> was published by Aurora.<br /> Buyer acknowledges and agrees with the following: Grading is a process by<br /> which an estimated value of a lot is determined. Two people may not grade<br /> the same item alike; and as market conditions change, grading standards<br /> may changes as well. Grading is an educated opinion; it is not an established<br /> fact. The grade and estimated value herein represent the opinion of Aurora<br /> and/ or its Consignor(s)/Sellers. Every Buyer’s individual examination of the<br /> item(s) is the determining factor and not the grade determined by others.<br /> Every reasonable effort is made by Aurora to ascertain provenance and<br /> authenticity. It is the Buyer’s responsibility to determine value prior to<br /> bidding. In any purchase or sale, the value of the item(s) is determined by<br /> the price. THE BUYER HEREBY ASSUMES ALL RISKS OF VALUE<br /> CONCERNING ANY AND ALL PURCHASES. Bids will not be accepted<br /> from persons under eighteen (18) years of age.<br /> Aurora retains the right, at its sole and absolute discretion, to make loans or<br /> advances to Consignors and/or Buyers.<br /> b) Absentee Bidding<br /> Absentee bidding allows the Buyer to participate in an Auction as though<br /> the Buyer were there. It is the Buyer’s responsibility to identify those lots<br /> the Buyer is interested in bidding on and to record them accurately on the<br /> Absentee Bid Sheet. Prior to bidding, the Absentee Buyer must complete the<br /> “Buyer Registration Form” and “Absentee Bid Sheet,” and then mail or fax<br /> it to Aurora at least 48 hours in advance of the Auction.<br /> 6. Buyer’s Commission:<br /> A Buyer’s Commission on each individual lot will be added to all purchases<br /> made by Buyers, except for re-acquisitions by Consignors, regardless of<br /> affiliation with any group or organization, and will be based upon the total<br /> amount of the final bid. A reacquisition charge may apply to Consignors<br /> pursuant to a separate agreement, which may be higher or lower than the<br /> Buyer’s Commission.<br /> 7. Payment by Buyers:<br /> Payments are to be made by check, cashier’s check, wire transfer or major<br /> credit card. Aurora must be contacted in advance for wiring instructions<br /> before sending a wire transfer. All wire transfer fees, including fees charged<br /> to Aurora for receipt of a wire transfer, customs fees and duties are the<br /> responsibility of the Buyer. Buyers are responsible for providing satisfactory<br /> credit references or to deposit a minimum twenty-five percent (25%) of<br /> their total bids for the relevant Auction or any other amounts as Aurora<br /> may, in its sole and absolute discretion, require before bids will be accepted.<br /> Deposits will be applied to the Buyers invoice. Remaining deposits will be<br /> promptly refunded, upon clearance of the funds. All payments must be made<br /> within ten (10) days of the buyer’s receipt of invoice, otherwise the sale will<br /> be rescinded, one-payers will be reported to the relevant internet auction<br /> house, and the bidder will not be allowed to participate in any future Aurora<br /> auction. A Treasury Form 8300 will be filed on all cash transactions whose<br /> aggregate total exceeds $10,000.<br /> Fees in addition to the Buyer’s Commission may be assessed to Buyer’s<br /> purchases if applicable, to include (but not limited to) taxes, freight,<br /> handling, postage, insurance and/or any and all other fees and taxes<br /> mandated by law. Any fee or tax not collected by Aurora from the Buyer<br /> due to oversight, error, negligence, mistake or retroactive legislation/<br /> taxation, is the responsibility of the Buyer. Buyer acknowledges and<br /> agrees to pay all fees, taxes, interest and penalties promptly upon<br /> demand.<br /> Lots must be paid for by the earlier of receipt of invoice or delivery. At<br /> Aurora’s discretion, Aurora may allow a dealer to receive Lots upon<br /> Automobilia Sale - August 16th, 2003, 7:00 p.m m. 69<br /> Aurora’s receipt of a currently dated check that Aurora will hold for thirty<br /> (30) days before depositing. On any accounts past due, Aurora reserves the<br /> right to extend credit and impose periodic charges. If any invoice is not paid<br /> for in full when due per invoice terms, the unpaid balance will earn interest<br /> at the rate of one-and-one-half percent (1-1/2%) per month until it is paid<br /> in full. In the event this interest rate exceeds the interest permitted by law,<br /> the interest rate will be adjusted to the maximum rate permitted by law.<br /> Buyer agrees to pay all reasonable attorneys’ fees, court costs and other<br /> collection costs incurred by Aurora or any affiliated or related company to<br /> collect past due invoices. Aurora reserves the right to assign its interest to<br /> any third party.<br /> Buyer personally and unconditionally guarantee payment(s) that are due or<br /> owed or become due or owed to Aurora. If the Buyer is a corporation, the<br /> corporate representative attending the sale shall provide Aurora, upon<br /> registration, with a statement signed by each principal, director and officer<br /> that they personally, jointly, severally and unconditionally guarantee any<br /> and all current or future obligations owed to Aurora.<br /> Buyer grants to Aurora or its assigns the right to offset any sums<br /> due, or found to be due to Aurora, and to make such offset from any<br /> past, current, or future consignment that are in the possession or<br /> control of Aurora; or from any sums due to Buyer by Aurora. Buyer<br /> further grants Aurora a security interest in such sums or items to<br /> the extent applicable. Buyer agrees that Aurora or its assigns shall<br /> be a secured party with respect to items bought by Buyer and in the<br /> possession of Aurora, to the extent of the maximum indebtedness,<br /> plus all accrued expenses attorney fees and costs, until the<br /> indebtedness is paid. Buyer grants Aurora or its assigns the right to<br /> file a UCC on such items without need for Buyers signature, and to<br /> assign such interest to any affiliated or related company or any<br /> third party deemed appropriate by Aurora.<br /> Aurora reserves the right to refuse to release lots to the Buyer for which<br /> good funds have not been received. If a successful Buyer fails to make<br /> payment when due, Aurora reserves the right to resell the lot(s) in a<br /> commercially reasonable manner, which may include a private sale. Buyer<br /> agrees to pay for the reasonable cost(s) in the event of such a sale, in<br /> addition to any related costs of sale, including reasonable attorneys’ fees and<br /> costs, cataloging and any other reasonable charges.<br /> Buyer acknowledges and agrees that any Buyer who does not complete his/<br /> her purchase of the lot(s) from the Auction by making payment for the<br /> lot(s) as required under these Terms and Conditions shall be not be allowed<br /> to participate as a Buyer in future Auctions conducted by Aurora.<br /> 8. Shipping:<br /> After the sale, it is the Buyer’s responsibility to contact Aurora to arrange<br /> shipping and packaging. Aurora will only ship in the U.S. by UPS, Federal<br /> Express or DHL or common carrier. In compliance with all local, state,<br /> federal and international regulations, the full value of lots is always declared<br /> for shipping and insurance purposes. Shipping and handling charges which<br /> will be charged to the Buyer include the cost of shipping, insurance,<br /> packaging material and any fuel surcharges imposed by UPS, Federal<br /> Express, DHL or any other carrier. All lots will be shipped insured for the<br /> value of the lot plus Buyers commission but not including shipping charges.<br /> Aurora will not assume responsibility for the shipping and packaging of<br /> certain larger items or items of a more fragile nature sold in the Auction as<br /> identified in the Catalogue as requiring professional shipping or crates. Due<br /> to the fragility of some items, Aurora may charge additional shipping and<br /> handling fees for such items. “Framed” lots are shipped at the Buyer’s risk.<br /> For items designated in the Catalogue as requiring professional packing and<br /> shipping, it will be the responsibility of the Buyer to make all packing and<br /> shipping arrangements.<br /> Claims for any goods damaged during shipping will be submitted to the<br /> appropriate carrier or freight company for insurance reimbursement. Buyer<br /> agrees to cooperate with Aurora to follow insurance reimbursement<br /> protocol required by the carrier and will, at the request of either Aurora or<br /> the carrier, allow or arrange inspection of the damaged goods, assist in<br /> preparation of any paperwork involved in submitting the claim for<br /> insurance reimbursement and obtain estimates of repair costs.<br /> Any lot shipped in error will be immediately returned to Aurora from the<br /> Buyer upon notification to Buyer by Aurora of incorrect shipment. If for<br /> some reason a lot cannot be recovered from Buyer to whom it was<br /> erroneously sent, Aurora will generate and Buyer who should have received<br /> the lot will accept, a refund of all monies paid for the lot (e.g. hammer<br /> price, Buyers premium, shipping, handling, taxes. insurance et al) as<br /> settlement in full, which, once tendered by Aurora, relieves and releases<br /> Aurora from any responsibility whatsoever to the Buyer, even if the<br /> instrument is not cashed or is returned.<br /> 9. Returns:<br /> For those Buyers participating in the Auction sale via mail, Telefax<br /> or Internet who have not had the opportunity to see the lot(s), if<br /> there is a material error in the Catalogue description, the lot may<br /> be returned if written notice is received by Aurora within five (5)<br /> calendar days of receipt of the lots by Buyer. Returned lot(s) must<br /> be received by Aurora no later than twenty-one (21) calendar days<br /> after receipt of lots by the Buyer and must be in the same condition<br /> delivered to the Buyer, and in their original containers. Payment<br /> by Buyer for purchase of lot later than 30 days from receipt of<br /> Aurora notification of amount due for the lot will void and cause to<br /> be revoked all return privileges.<br /> THIS IS NOT AN APPROVAL SALE. Buyers who physically attend the<br /> Auction Sale, either personally or through an agent (“Floor Buyers”) should<br /> carefully examine all lots that they are interested in purchasing. Buyers who<br /> bid by telephone or Internet, either personally or through an agent, receive<br /> a similar benefit as Floor Buyers in being able to actively participate in the<br /> live Auction Sale (Telephone Buyers). Therefore, except as otherwise<br /> provided in these Terms and Conditions of Sale, NO LOT MAY BE<br /> RETURNED THAT IS PURCHASED BY A FLOOR BUYER, A<br /> TELEPHONE BUYER, ANY OTHER BUYER WHO HAS HAD AN<br /> OPPORTUNITY TO VIEW THE LOTS.<br /> 10. Warranties and Disclaimers:<br /> This Agreement supersedes all other prior agreements or understanding with<br /> respect to the subject matter hereof. This agreement may only be amended<br /> or supplemented by an agreement in writing signed by both parties hereto.<br /> Successors in interest to this Agreement inures to the benefit of, and shall be<br /> binding upon the heirs, administrators, successors, and assignees of the<br /> parties hereto.<br /> Each person executing this Agreement in a representative capacity<br /> represents and warrants that he is empowered to do so.<br /> CA Civil Code § 1740 et. seq., which applies to certain prints, photographs,<br /> and/or sculpture casts, will be sold with an accompanying Certificate of<br /> Authenticity containing express warranties of the information set forth<br /> therein (“Fine Prints”). Unless, otherwise set forth herein, all other items<br /> and lot(s) sold at the Aurora Auction are sold with a limited warranty that<br /> the item sold is authentic. Any other warranty is expressly disclaimed.<br /> Any claims regarding a lack of authenticity must be made within one (1)<br /> month from the date of the Auction and may only be made by the original<br /> Buyer of record at the Auction.<br /> Any claims disputing the authenticity of an item sold at the Auction sale<br /> will be submitted to experts selected solely at Aurora’s discretion who will<br /> utilize methods of verification the same as used by Aurora. Buyer<br /> acknowledges decision of said expert(s) will be final and binding. Scientific<br /> processes not generally accepted for use at the time of the Auction Sale or<br /> those that are unreasonably expensive or impractical are excluded as<br /> methods of verification.<br /> If a successful challenge to the authenticity of any lot(s) results, Aurora<br /> agrees to reimburse the respective Buyer in an amount equal to the<br /> successful bid price actually paid by Buyer at the Auction sale plus any<br /> Buyer’s Commission, and other fees actually paid, in full and complete<br /> satisfaction of all claims, which once tendered by Aurora, relieves and<br /> releases Aurora from any responsibility whatsoever to the Buyer, even if<br /> the instrument is not cashed or is returned.<br /> Large lot(s) or lot(s) described as being “sold as is” are not returnable for<br /> any reason whatsoever, either partially or in full.<br /> No warranty, express or implied, including a warranty of merchantability, is<br /> made with respect to any grade description which description Buyer<br /> acknowledges as only an opinion that is likely to differ, even among<br /> experts.<br /> Aurora reserves the right to withdraw any lot at any time, even after the<br /> hammer has fallen, until the Buyer has taken physical possession of the lot.<br /> No Buyer shall have a right to claim any consequential damages if a lot is<br /> withdrawn, even after the Auction.<br /> No employee or agent of Aurora has authority to vary or alter these Terms<br /> and Conditions of Sale. Any alteration shall be effective only in writing and<br /> signed by an authorized Aurora officer. Except as set forth in the Certificate<br /> of Authenticity for Fine Prints, all oral and written statements made by<br /> Auctioneer/Aurora and its employees are statements of opinion only, and<br /> are not warranties or representations of any kind.<br /> Buyers shall not have recourse against Consignors.<br /> Buyer expressly consents to the following Waiver and Release: Buyer, for<br /> himself, his heirs, agents, successors and assigns, generally and specifically<br /> waives and releases, and forever discharges Aurora, and its respective<br /> affiliates, parents, shareholders, agents, subsidiaries, employees, members of<br /> their respective boards of directors, and each of them, and their respective<br /> successors and assigns from any and all claims, rights, demands and causes of<br /> action and suits, of whatever kind or nature, whether in law or equity,<br /> whether known or unknown, suspected or unsuspected, which Buyer may<br /> claim to have with respect to and/or arising out of, or in connection with<br /> any challenge to the title to any goods purchased, the sale itself, and/or the<br /> Auction, except where such reimbursement is otherwise authorized in these<br /> Terms and Conditions of Sale.<br /> It is the intention of Buyer that this waiver and release shall be effective as<br /> a bar to each and every claim, demand, cause of action and suit that may<br /> arise hereunder, and Buyer hereby knowingly and voluntarily waives any and<br /> all rights and benefits otherwise conferred upon him by the provisions of<br /> Section 1542 of the CA Civil Code, which reads in full as follows: “A<br /> GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE<br /> CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR<br /> AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN<br /> BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT<br /> WITH THE DEBTOR.”<br /> Title to any lot remains with Consignor, any secured party of the<br /> Consignor, or Consignor’s assigns, as the case may be, until the lot is paid<br /> for in full by Buyer. Aurora reserves the right to require payment in full<br /> before delivering any lot to the successful Buyer. If any Lot(s) is<br /> confiscated or seized by a governmental agency for any reason relating to<br /> the Consignor’s right or authority to consign the Lot for Auction or in<br /> satisfaction of any debts or amounts due to a governmental agency, Buyer<br /> agrees to indemnify Aurora against any and all claims for damages or<br /> responsibility resulting from the confiscation or seizure of the Lot(s) and<br /> relieves Aurora from the responsibility to deliver the Lot or to refund any<br /> amounts paid by the Buyer for the Lot.<br /> It is the Buyer’s responsibility and obligation to have the lots fully insured<br /> while in his or her possession. Buyer assumes any and all RISK OF LOSS<br /> while the lot(s) is in Buyer’s possession.<br /> If a dispute arises concerning ownership of a lot that has been bid upon,<br /> Aurora reserves the right to commence a statutory interpleader proceeding<br /> at the expense of the Consignor and successful Buyer and any other<br /> applicable party, and in such event shall be entitled to its reasonable<br /> attorneys’ fees and costs.<br /> All scans and photographs in this Catalogue are of the actual items being<br /> sold, but in most instances the photographs are not the actual size, scale or<br /> color. Reference Section 5: Bidding regarding Errata Corrections.<br /> Aurora retains the right to cancel or postpone the Auction sale or any<br /> session thereof for a reasonable period of time for any reason whatsoever.<br /> No Buyer shall have any claim as a result thereof, including incidental or<br /> consequential damages.<br /> Neither Aurora nor any affiliated or related company shall be responsible<br /> for incidental or consequential damages arising out of any failure of the<br /> Terms and Conditions of Sale, the Auction or the conduct thereof and in no<br /> event shall liability for any such failure exceed the purchase price, premium,<br /> or fees paid.<br /> Rights granted Buyers under the within Terms of Conditions of Sale are<br /> personal and apply only to the Buyer who initially purchases the lot(s) from<br /> Aurora. The rights may not be assigned or transferred to any other person<br /> or entity, whether by sale of the lot(s), operation of law or otherwise. Any<br /> attempt to assign or transfer any such rights shall be absolutely void and<br /> unenforceable. No third party may rely on any benefit or right conferred by<br /> these Terms and Conditions of Sale.<br /> If the Buyer fails to comply with one or more of these Terms and<br /> Conditions of Sale, then, in addition to all other remedies that it may have<br /> at law or in equity, Aurora may at its sole option, either (a) cancel the sale,<br /> retaining all payments made by Buyer as liquidated damages, it being<br /> recognized that actual damages may be speculative or difficult to compute,<br /> or (b) sell a portion or all of the lot(s) held by Aurora, in a quantity<br /> sufficient in the opinion of Aurora to satisfy the indebtedness, plus all<br /> accrued charges. More than one such sale may take place at the option of<br /> Aurora. Notice of this sale shall be by email, fax, or U.S.P.S. Certified Mail,<br /> Return Receipt Requested to the address utilized on the Bid Sheet, Auction<br /> Consignment and Security Agreement or other last known address by<br /> Aurora. Such sale will be at Aurora’s standard commission rates at public or<br /> private sale. The proceeds shall be applied first to the satisfaction of any<br /> damages occasioned by Buyer’s breach, then to any other indebtedness owed<br /> to Aurora, including without limitation, commissions, handling charges, the<br /> expenses of both sales, reasonable attorneys’ fees, costs, collection agency<br /> fees and costs and any other costs or expenses incurred. Buyer is also liable<br /> to Aurora if the proceeds of such sale or sales is insufficient to cover the<br /> indebtedness.<br /> These Terms and Conditions of Sale and the Auction shall be construed and<br /> enforced in accordance with, and governed by, the laws of the State of<br /> California in the county of Ventura, regardless of the location of the<br /> Auction Sale. Each party to this agreement hereby agrees that any dispute<br /> arising under this agreement or any of its provisions shall be submitted to<br /> binding arbitration in the county of Ventura in the state of California and<br /> not elsewhere. It is further agreed between Consignor/Buyer and Aurora that<br /> arbitration shall be binding and final on all parties and both parties waive<br /> their right to seek remedies in court including a right to a jury trial. Each<br /> party further agrees that the prevailing party will be reimbursed for costs<br /> and expenses incurred in connection with the arbitration by the other party.<br /> If any section of these Terms and Conditions of Sale or any term or<br /> provision of any section is held to be invalid, void, or unenforceable by<br /> arbitrator or by any court of competent jurisdiction, the remaining sections<br /> or terms and provisions of a section shall continue in full force and effect<br /> without being impaired or invalidated in any way.<br /> Aurora welcomes you to our Auction, and hopes you find something special<br /> for your collection. We’ve worked hard to assemble an interesting array of<br /> lots, and wish you the best of luck in your bidding