AUTOGRAPHS, LETTERS & MANUSCRIPTS AUCTION

Buyers Terms & Conditions 1. Interpretation 1.1. "Auctioneers" means " International Autograph Auctions Europe S.L. " 1.2. "Catalogue" means the brochure relating to a sale (including any addendum thereto) and any other related documents and advertisements. 1.3. "Conditions" means these terms and conditions of sale 1.4. "Hammer Price" means the price at which a lot is knocked down by the Auctioneers to the Purchaser. 1.5. "Purchaser" means the person who purchases a lot or lots pursuant to these conditions. 1.6. "Seller" means the person who is selling the lot or lots pursuant to these conditions. 1.7. "VAT" means Value Added Tax. 2. Bidding 2.1. The highest bidder for each lot shall be the Purchaser of that lot. 2.2. No person shall be entitled to retract a bid. The Auctioneers reserve the right of refusing any bid without giving any reason and of altering, adding to, dividing, consolidating or withdrawing any lot or lots for sale. 2.3. The Auctioneers reserve the right to fix a reserve price for any lot at a figure no higher than the lower estimate. 2.4. The Auctioneers reserve the right to bid on behalf of the Seller on lots which are subject to a reserve price. The Seller shall not be entitled to bid where the Auctioneers have reserved such a right. 2.5. In the case of a dispute as to any bid the Auctioneers may immediately determine the dispute or put up the lot again at the last undisputed bid or withdraw the lot. 2.6. The Auctioneers will accept written commission bids free of charge from any person who is unable to attend the sale. Bids will also be accepted by telephone and fax at the sender's risk. 2.7. Lots will not normally be sold at less than two-thirds bottom estimate. To expedite this and for your convenience please advise us following the auction and, if you wish, a PayPal payment request will be emailed directly to you. 3. Payment 3.1. Each Purchaser shall give in his name and address and proof of identity (if required) to the Auctioneers at a sale and shall if required pay such deposit as the Auctioneers may specify. 3.2. The Purchaser shall pay the Hammer Price together with a premium of 22,5% on the Hammer Price (plus 21% VAT on premium for European Union). By the making of any bid the Purchaser acknowledges that his attention had been drawn to this fact and that he assents to the Auctioneers receiving the said commission. A 22.5% premium will be payable by Purchasers outside the European Union (EU). Zero-rated goods such as books will be subject to a premium of 22.5% whether within or outside the EU unless entered by a VAT registered Seller. 3.3. Payments for lots must be made in cash, bankers draft or cheque guaranteed by the bank upon which it is drawn. Lots will not be released against cheques from Purchasers unknown to the Auctioneers until cleared by such Purchaser's bank. Payment is accepted by Visa, Mastercard, American Express and most debit cards. 3.4. Overseas clients are requested to settle accounts by Euro bank transfer (details upon request), by Euro cheques only if drawn on major European clearing houses, by Visa, Mastercard or American Express (a surcharge of 3% plus VAT [clients outside the EU exempt from VAT] will be levied to accounts settled by this method) or if payment is made on personal accounts in foreign currency the client is requested to add the equivalent of a further 10? to cover bank conversion charges. The Auctioneer reserves the right to claim back from the Purchasers any shortfall due to bank charges or currency fluctuations on that account. 3.5 Payments for auction purchases may be made to our PayPal account (info@autografosubastas.es). Payments made via PayPal are subject to a 5% surcharge on the total of the invoice. To expedite this and for your convenience please advise us following the auction and a PayPal payment request will be emailed directly to you. 3.6. No lots will be released by the Auctioneers until receipt of payment in full from the Purchaser. 4. Risk 4.1. All lots shall be the sole risk of the Purchaser from the fall of the hammer. 4.2. The Purchaser shall take all lots in the condition in which he finds them. It is the responsibility of all intending Purchasers to satisfy themselves by inspection or otherwise as to the authenticity in the authorship, date, age, period, condition or quality of any lot. 5. Liability 5.1. Neither the Seller of any lot nor the Auctioneers make or give nor has any person in the employment of the Auctioneers any authority to make or give any representation or warranty in relation to any lot and any implied conditions or warranties are excluded. 5.2. All statements contained in the Catalogue as to the authenticity, attribution, genuineness, origin, authorship, date, age, period, condition or quality of any lot are statements of opinion only and are not to be taken as or implying statements or representations of fact. Lots are sold subject to all faults and errors in description or otherwise. 5.3. Notwithstanding the provisions of paragraphs 5.1. and 5.2. of these Conditions in the event of a dispute as to authenticity of any lot(s) the item or items in question should be returned to the Auctioneers within 21 days of receipt by the Purchaser of such lot(s) together with a formal statement by a recognised expert The Auctioneers shall at their option and without admission of liability reimburse the price paid by the Purchaser in respect of such lot(s). This does not constitute an approval service. 5.4. Neither the Auctioneers nor the Seller shall be responsible for any loss, damage or injury occasioned to or sustained by any person on the premises before, during or after a sale save in respect of death or personal injury caused by negligence of the Seller or the Auctioneers. 6. Capacity of Auctioneers For all purposes of a sale the Auctioneers shall be deemed to be the agent of both the Seller and the Purchaser and they shall not be considered responsible for any default on the part of either the Seller or Purchaser. 7. DELIVERY 7.1. Postage is subject to VAT at 21% within the EU 7.2. The Auctioneers will provide full customs declarations on the Hammer Price plus the Purchaser's premium and Purchaser's shall be responsible for any customs charges made by the country of import. 7.3. A charge will be made for the packing of deliveries which is subject to VAT at 21% within the EU. 7.4. An insurance charge of 1% plus VAT will be applied to all invoices for packages sent from our offices. 8. Auctioneers Remedies In the event that the Purchaser fails to pay for any lot(s) in full pursuant to these Conditions then the Auctioneers shall be entitled: 8.1. to rescind the sale of the relevant lot(s) 8.2. to resell the lot(s) without further notice either by public or private sale and the deficiency (if any) arising from such second sale together with all charges and expenses relating to the same shall be the responsibility of the defaulting Purchaser and shall be recoverable as and for liquidated damages. 9. Jurisdiction These Conditions shall be governed by Spanish law and the parties submit to the exclusive jurisdiction of the Spanish courts. Online Bidding Please note that any lots purchased via LiveAuctioneers live auction service will be subject to an additional 5% commission charge + VAT at the rate imposed on the hammer price All lots shall be the sole risk of the Purchaser from the fall of the hammer. The Purchaser shall take all lots in the condition in which he finds them. It is the responsibility of all intending Purchasers to satisfy themselves by inspection or otherwise as to the authenticity in the authorship, date, age, period, condition or quality of any lot.