Fine Art, Antiques, Gold & Jewelry Auction

Auctions By Daum Terms & Conditions Read from podium by auctioneer, date of auction 12/10/2011 YOU MUST REGISTER TO BID Would you like to be sent information on future auctions PLEASE GIVE THE CASHIER YOUR E-MAIL OUT OF TOWN ADDRESS ON SEPERATE FORM AS CLERK OR CASHIER I have read the terms of the sale on both sides, I am over 18 years of age and fully competent and sign it voluntarily as my own free act and deed no oral representations, statements, or inducements, apart from the foregoing written agreement have been made and I execute this bidding card form for full, adequate and complete consideration fully intending to be bound by its terms. Bidder’s agrees to the following: BUYER NUMBER Please read this document carefully before executing. This is a legal document which affects your legal rights. The individual or entity identified at the above of this page. Hereinafter referred to as the “Buyer” in consideration of among other things, being permitted to participate in the Auction, hereby agrees to the following terms: 1. Registration: All Buyers must register in advance of the Auction prior to placing a bid. Registering is accomplished by reading and signing this Bidding card application. 2. All sales are final no credits or refunds are given. 3. Buyer highest Bidder: Buyer that places the highest bid shall have the right and obligation to purchase the item. If disputes arise, the Auctioneer has the absolute discretion to settle them and to re-auction the merchandise if necessary. 4. Right to reject bids: Daum auctioneers has the right to refuse any bid, to divide, to combine and to withdraw any lots without giving reason, Auctioneer and affiliates may consign items to sell and bid on any lots. 5. Bidding on 2 or more items: In cases where 2 or more items are sold, Buyer is bidding on one item only. If buyer requests more than one of the items on display, the bid price will be multiplied by the number of items requested. (Not Applicable for online auction) 6. Sales Tax: All sales are subject to local sales tax unless a valid resale number on a state certificate is given. 7. Buy Premium: a 20% buyer’s premium is added to all purchases. 8. Day of the sale: All merchandise must be paid for on the day of the sale. Title (ownership) will not pass to buyer until your credit card or checks are fully collected and cleared by Auctions by Daum’s bank and may be withdrawn. 9. Forms of payment: Payment is accepted in the form of Visa, Master Card, Discover, American Express, PayPal, cash or certified/cashiers check. 2 forms of Valid identification is required for all forms of payment except cash. 4% surcharge for all credit cards. 10. Returned Checks: There is a $50.00 charge for all returned checks. 11. Merchandise: All merchandise must be picked up and moved from location where the item is located (where is) within 5 business days unless agreed to in writing+ by Auctioneer. 12. Merchandise: All merchandise not picked up within 5 business days will be billed for storage at $10.00 per day. 13. Warranties and guarantees: All jewelry is guaranteed to be genuine as represented. All other merchandise will be sold “As Is” “Where Is” and “with all faults.” Daum Auctioneers does not make and will not make representation or warranty of any kind what so ever, whether implied, express or statutory, whether oral or written, regarding the value of any item. Nor does the Daum Auctioneers make any representations as to quality, quantity, fitness or condition, usability, merchantability, salability, weight, measurement, age or year, value, color, origin or composition of merchandise. It is up to the buyer at his, her, or its expense, if desired, if to determine the value of the item(s) in question. The Buyer shall not rely upon anyone’s opinion of value what so ever, whether giving by the auctioneer of anyone else, but on the Buyer’s own opinion. Any opinion expressed by the Auctioneer is strictly that of the Auctioneer and shall not bind Daum Auctioneers. 14. Arbitration and disputes: In the event that a dispute arises between the parties. It is herby expressly agreed and understood that such dispute shell be determined by arbitration before the American Arbitration Asso. pursuant to the Commercial Arbitration Rules then in effect, such arbitration is to be conducted in the county of Palm Beach, State of Florida, and not by lawsuit or resort to court process. Buyer expressly agrees to such Arbitration, and gives up its constitutional right to have any such dispute decided in a court of law before a a jury. Such arbitration award shall be final and binding and may be taken to a court of competent jurisdiction and judgment may be entered thereon. NOTICE: BY PLACING A BID YOU ARE ACCEPTING THIS CONTRACT AND YOU ARE AGREEING TO HAVE ALL ISSUES DECIDED BY MUTUAL ARBITRATION AND YOU ARE GIVING UP YOUR RIGHT TO A JURY OR COURT TRIAL. 15. Entire agreement, Bidding Card/Online Bid: This Bidding Card and Online Bid represents the sole agreement between Daum Auctioneers and Buyer and constitutes the final, complete, and exclusive statement of the terms of the Agreement between the parties pertaining to the subject matter of this Bidding Card and supersedes all prior and contemporaneous understandings or agreements of the parties. This Bidding Card/Online Bid may not be contradicted by evidence of any prior or contemporaneous statements or agreements. No party has been induced to enter into this Bidding Card/Online Bid, nor is any party relying on, any representation, understanding, agreement, commitment or warranty outside those expressly set forth in this Bidding Card/Online Bid. Integration: This Bidding Card/Online Bid constitutes the entire understanding of the parties and there shall be no modification or waiver of the terms of this Bidding Card/Online Bid. 16. Attorney’s fees: In any litigation, arbitration, or other proceedings by which one party either seeks to enforce its rights & obligations under this card (whether in contract, tort, or both) or seeks a declaration of any rights of obligations under this Bidding card/Online Bid, the prevailing party shall be awarded its reasonable attorney’s fees, and expenses incurred. 17. Checkout; shall be when the auction ends, i.e. The Auctioneer stops calling. There can be no exceptions; thank you for your understanding. Everything must be paid in full on the day of the auction regardless of when it is picked up. All sales are final and the bidder is responsible for knowing which items he or she is bidding on, Auctioneer can not honor mistakes. 18. Do not move merchandise without auction personnel present to check you out. All merchandise must be paid and all funds Must be cleared & available for withdraw from our banks when using credit cards or checks. 19. Terms: cash, checks on local bank made payable to cash (with 2 verifiable ID's) or certified check made payable to Auctions by Daum, LLC. Credit Cards: Master Card, Visa, Discover, American Express: subject to surcharge of 3%. Registration of Credit Card information prior to auction is available through contacting the Auctioneer at least 1 day prior to auction date. All payments shall be made with in 48 hours via Credit Card, wire transfer or certified check sent Federal Express overnight/ Next Day. 20. Buyer is responsible for arranging shipping/crating for purchased lots and will pay 100% of shipping costs. Buyer may contact Auctions by Daum for listing of local shippers. Auctions by Daum is not responsible for insuring the lot for shipping/crating, and is not liable for any damage during shipping. Any lots that are damaged during or after shipping, shall not be returned to or refunded by Auctions by Daum under any circumstances. 21. Any payments received for the designated period of 30 days for due diligence after the auction date, shall be held in a Florida escrow account governed by the State of Florida Board of Auctioneers. If within 30 calendar days after the auction date, any lot the purchaser gives notice in writing to Auctions by Daum that the lot is counterfeit, and within 30 calendar days after the auction date the purchaser returns the lot to Auctions by Daum in the exact condition as when sold, and the purchaser within 15 calendar days after the auction date demonstrates factual evidence to Auction by Daum by providing a legally executed and notarized affidavits by two (2) recognized experts in that particular field in which the lot is categorized that the lot is in fact counterfeit, Auctions by Daum will refund the full purchase price. In situations in which the lot can only be qualified by a single source such as the artist or represented gallery, a legal notarized affidavit must be provided within 15 days of the auction. 22. Credit card payments may not exceed $25,000. Payment on lots greater than $25,000 must be arranged via bank wire within 48 hours of the end of the auction in which the lot was awarded.

Local Taxes Apply (TBD)