Weekly Auctions of Exceptional Items
City of Industry, CA, United States
DoneSat, Mar 24, 2012 7:00 PM GMT
Important Asian and Western Estate March 2012
Selling multiple estates of Western European, Chinese and Other Asian Arts and Antiques. Please note auction will be held in Shilo Hotel on March 24th from 11:00AM to 4:00PM (Pacific Time)
Auction & Auctioneer Information
City of Industry, CA, USA
Auction preview will be open to public before 1-2 hours before auction starts.
Terms & Conditions
Auction Sales Agreement (Bidding Agreement) Bidders, please read the following auction sales agreement (a.k.a. Bidding Agreement) carefully before bidding. By placing any form of bid 1) by person on site, 2) by absentee, 3) by online via liveauctioneers.com, or 4) by telephone, the bidder(s) enter(s) into a binding contract of sales agreement with Bona Estique, Inc. (hereinafter Bona Estique or Auctioneer) and shall be deemed to have full understanding and acknowledgment of the agreement which is provided below as the terms and conditions. Terms and Conditions The following Terms and Conditions of Sale, as amended by any posted notices or verbal announcements during the sale, constitute the entire terms and conditions by which property listed in the catalog shall be offered for sale or sold by Bona Estique and any consignor of such property for whom we act as agent. 1. Agreement by Bidding - Bidder understands and acknowledges that by placing any form of bid, whether by person on site, by absentee bid, by online either via liveauctioneers, or via our web site, by telephone; the bidder enters into a binding contract of sales agreement. 1A. Purchase for Hammer Price - The highest bidder on a lot recognized by Bona Estique shall be the buyer of the lot. Upon the call of the auctioneer's hammer and identifying the winning bidder with highest bid, the said highest bidder (the winning bidder) shall be deemed to have purchased the offered lot and should pay the purchase price in full. 1B. Payment by Buyer - The purchase price shall be the sum of i) the price at which the item is sold, ii) sales taxes and shipping (if applicable); plus iii) Bidder's Premium as described in section 7C of this agreement as provided in below (Bidders Premium) i) Cash & Checks - The premium rates are Nineteen percent (19%) for cash and/or check. ii) Credit Cards & Wire Transfer - The premium rate is twenty-two percent (22%) if paying by credit card or wire transfer (including 3% online transaction fees). iii) Online Bidders - The same premium rates described above will be applied to those bidders who bid online. 1C. Default by Buyer - The purchaser who fails to make a full payment after a winning bid shall be liable for the amount of deficiency when Bona Estique subsequently resells the item to mitigate damages, subject to the remedy provisions. 2. Bidder Registration - To participate in an auction held by Bona Estique, each and every bidder must register with Live Auctioneer subject to additional registration requirements for phone bidding and international bidding as stated. 2A. Identification on Site - On-site personal bidders must present a valid identification card to obtain a registration number for on-site bidding (i.e., a paddle number). If a representative is bidding on a company's or someone else's behalf, an authorization letter with contact information of the actual bidder is required unless expressly waived by Bona Estique. 2B. Phone Bidding - Those bidders who want to bid by telephone should additionally register with Bona Estique to effectuate their bid. The bidder must give a working phone number at which they wish to receive the call from Bona Estique, and on the designated time of the auction, Bona Estique staff may call the bidder to receive the phone bid. Phone bidding is limited to those lots with high estimated price of $500 or more, unless Bona Estique expressly waives this amount limitation. 2C. International Bidding - Those bidders who bid from outside the USA (international bidders) must additionally register with Bona Estique's website home page, no matter what kinds of bidding method they might take. International Bidders must also provide credit card information and Bona Estique may require deposit, usually amount equal to 25% of starting price. International bidders acknowledge and understand that Bona Estique is NOT liable for shipping and delivery as provided in section 10 (Shipping) 2D. Online Bidding - Those bidders who participate via the Internet as Internet bidders acknowledge and understand that it is the sole responsibility of the Internet bidder to be familiar with the Internet bidding process. The real time uploaded results of an auction on www.liveauctioneers.com take precedence over any and all messages of high bids during proxy and live bidding. 2E. Abentee Bidding - Those bidders who want to place absentee bids may do so online at Liveauctioneers or by sending the Absentee Bid Form to Bona Estique. If identical amounts of bids are submitted from different bidders, the earliest one received will take precedence. Absentee bidders may set a maximum bid, and the proxy will bid from the starting price subject to same rule of incremental bid as provided in sec 4G below. (Bidding Increment) 2F. Deadline for Bid - Except for on-site bids in person, all bids, whether by online, telephone, or absentee request, must be submitted at least 24 hours prior to the auction start, and any bids received after this deadline of time are NOT GUARANTEED and may not be executed. (Cf. 3C Failure for Deadline.) 3. Failure or Defects of the Remote Bidding 3A. Failure for Online Bidding - Bona Estique shall NOT be liable for malfunctions, errors, or omissions (hardware, software, electronic, human, or otherwise), whether or not due to Bona Estique's fault or negligence, resulting in the inaccurate transmittal of bids, the failure to execute bids, or any other irregularities. 3B. Failure for Phone Bidding - Bona Estique shall NOT be not liable for malfunction, errors, or omissions including but not limited to call drop, errors, disconnection, or failed connection (devices, services, human, or otherwise) whether or not due to Bona Estique's fault, negligence, or other irregularities. 3C. Failure for Deadline - Except for the on-site bid made in person, there is a deadline of time for phone bid, absentee bid, and international bid. Phone bidders, absentee bidders, and/or international bidders must register their bid 24 hours in advance of the starting time of the actual auction; and Bona Estique shall NOT be liable for any failure of the bid directly or indirectly caused by the failure to meet the deadline. 4. Regulation of Bid - Bona Estique may at its own discretion regulate all bidding in the auction. An opening bid must be meet at least the starting price provided by the auctioneer. 4A. Highest Bidder - The highest bidder is to be the buyer. If any dispute arises at the time of sale between two or more bidders, the lot so in dispute may be put up again and resold subject to section 4C (Bidder Dispute or Doubtful Bid). 4B. Competing Bids - When two (2) or more bidders declare the same amount for the highest bid, the earlier bidder recognized by the auctioneer will take precedent, subject to the following section 4C (Bidder Dispute or Doubtful Bid). 4C. Bidder Dispute or Doubtful Bid - Bona Estique shall be the sole arbiter/decision maker who has sole and final discretion either to determine the successful bidder or to re-offer and resell the property in question if: i) there arises a dispute between bidders or ii) Bona Estique doubts the validity of any bid. 4D. Recognition of Highest Bidder - If there be no advance for calling of a higher bid, then the property in the lot shall go to the person from whom the auctioneer recognized the last bid. The auctioneer may decline any bid made by any person who, in his judgment, is not a responsible or reliable bidder. 4E. Records as Conclusive - If any dispute arises after the sale, Bona Estique's sales records shall be conclusive in all respects. 4F. Bid by Consignor - Neither the consignor nor his/her agent is allowed to bid for the consigned item or goods of his/her own whether the lot is offered as reserved or not. 4G. Bidding Increment - Bidding is in increments of $10 for bids between $0-$99; $25 between $100- 499; $50 between $500-999; $100 between $1000-2999; $300 between $3000-4999; $500 between $5000-9999; $1000 for bid more than $10,000; and $10,000 for more than $100,000. Bid Price Increment $200,000+ $25,000 $100,000-199,999 $10,000 $50,000-99,999 $500 $10,000-49,999 $1,000 $5,000-9,999 $500 $2,000-4,999 $250 $1,000- 1,999 $100 $300- 999 $50 $100-299 $25 $0-99 $10 (Bid Increments Tables) 5. Reserved Rights by Auctioneers 5A. Withdrawal of Property - Bona Estique at his sole discretion reserves the right to withdraw property at any time before the sale. 5B. Rejection of the Bid - Bona Estique reserves the right to reject a bid from any bidder. Any bid which is not commensurate with the value of the article offered, or which would be a gross injustice to the business, or is merely a nominal or fractional advance over the previous bid, may be rejected by the auctioneer if in his judgment such a bid would be likely to affect the sale injuriously. 5C. Reserved Lot For Minimum Price - If there is a reserve (minimum amount requested by consignor) on any item and a bid does not meet minimum reserve amount, the auctioneer has the right at his sole discretion to void any and all sales/bids on that particular item. 5D. Bidding for Reserved Lot - If a lot is offered subject to a reserve, Bona Estique may implement such reserve by bidding on behalf of the consignor, whether by opening bidding or continuing bidding in response to other bidders until reaching the reserve. 5E. Reserved Rights to Bid - Bona Estique may reserve security interest, where the consignor is indebted to or has a monetary guarantee from Bona Estique and/or in certain other circumstances. If Bona Estique has any security interests or other interests in an offered lot and/or in the proceeds there from other than auction commissions may bid therefore to protect such interest. 6. ALL GOODS ARE SOLD "AS IS," "WHERE IS," "HOW IS." ALL SALES ARE FINAL. 6A. Disclaimer ALL ITEMS OR PROPERTIES ARE SOLD "AS IS AND WHERE IS." UNLESS PROVIDED IN SECTION 6B. LIMITATION OF EXPRESS WARRANTY, THERE IS NO WARRANTY BY CONSIGNOR OR BY BONA ESTIQUE EXPRESSED OR IMPLIED AS TO MERCHANTABILITY, FITNESS, OR CONDITION OF PROPERTY, OR CORRECTNESS OF DESCRIPTION THAT THE PROPERTY OFFERED FOR SALE IS WHAT IT IS DESCRIBED TO BE BY AUCTIONEER IN THE CATALOG. BONA ESTIQUE AND ITS AGENTS AND EMPLOYEES, AND THE CONSIGNOR DO NOT WARRANT ANY LOT/ PROPERTY 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. THE BIDDER IS SOLELY RESPONSIBLE FOR DETERMINING THE AGE, SIZE, CONDITION, AND VALUE OF THE PROPERTY PRIOR TO BIDDING. ALL ITEMS, LOTS, OR PROPERTIES ARE SOLD WITHOUT RECOURSE. 6B. Condition Report/Description in Catalogue Neither the Bona Estique nor the Consignor will be held responsible for accuracy of any printed or verbal descriptions in the catalogues or condition reports such as the rarity, quality, condition, size, measurement, importance, or provenance of the property, and so on. Any information in catalogue and/ or in condition reports are given merely as a COURTESY OPINION OF CONSIGNOR AND/OR AUCTIONEER. THOSE INFORMATION ARE NOT EXPRESS/ IMPLIED WARRANTY. The information in catalog or condition reports may vary in accuracy and thus should not be relied on by Bidder as guaranteed fact. It is the bidder's responsibility to check and inspect the goods before purchase, and Bona Estique assists the prospective bidders upon request for additional pictures or information. Artists' names and signatures do not carry warranty and are not guaranteed unless a Certificate of Authenticity accompanies the lot, provenance provided when available. 6C. Statements/Descriptions in Records - All statements contained in any catalogue or in any bill of sale, invoice, or elsewhere as to authorship, period, culture, source, origin, measurement, quality, rarity, provenance, importance, exhibition, and literature of historical relevance, or physical condition ARE QUALIFIED STATEMENTS OF OPINION AND NOT REPRESENTATIONS OR WARRANTIES. No employee or agent of Bona Estique is authorized to make on our behalf or on that of the consignor any representation or warranty, oral or written, with respect to any property. 6D. Condition of Property - It is the responsibility of prospective bidders to inspect the goods, and thus the prospective bidders are advised to inspect all lots prior to bidding to determine age, condition, size, medium, repairs, and any restoration or lack thereof. As a service to prospective bidders, condition reports are available on ALL lots; HOWEVER, THESE REPORTS ARE SIMPLY EDUCATED PROFESSIONAL OPINIONS OF BONA ESTIQUE, AND SHOULD NOT BE RELIED ON AS AN ABSOLUTE BASIS OR ANY WARRANTY. 6E. Estimation - For courtesy of the clients, Bona Estique may pre-sale estimation for each and every auction lot. HOWEVER, THESE ESTIMATES ARE ONLY THE AUCTIONEER'S APPROXIMATE VALUATION AS AN EDUCATED GUESS BASED ON COMPARABLE AUCTION SALES OR OTHER REASONABLE GROUNDS (SUCH AS CONSIGNOR'S REQUESTED AMOUNT); AND THUS THEY SHOULD NOT BE TAKEN AS "PRICE" OF THE PARTICULAR LOT ESTIMATED. The highest bidding amount may be well less or more than any estimation. 7. Payment - Everything must be paid in full in a timely manner regardless of when an item is picked up or whether the invoice is sent; and shipping must be arranged in such manner as described in this section. Failure to comply with the payment terms may be breach of contract for which the default buyer is liable for damages. 7A. Invoice - Upon the completion of sale, Bona Estique will prepare and give an invoice in person to an onsite bidder. If winning bidder is remote bidder who placed phone bid, online bid, or absentee bid, then Bona Estique shall send invoice to the winning's email address as presented in the registration. Whether with or without an invoice, the buyer (winning bidder) must pay his/her bid amount; buyer's premium; taxes (if applicable); shipping (if applicable); and other charges (if applicable) as provided in this agreement. 7B. Means of Payment - All items are to be paid for by i) Cash, ii) Cashier's Check, iii) Personal check with approved credit, iv) Bank wire transfer; and/ or v) any properly authorized credit card such as Visa, American Express, Master cards, or Discovery Card. . 7C. Buyer's Premium - The following rates of bidder's premium will be added to the invoice and payable by the buyer for total purchased price as provided below. i) Cash & Checks - The premium rates are Nineteen percent (19%) for cash and/or check. ii) Credit Cards & Wire Transfer - The premium rate is twenty-two percent (22%) if paying by credit card or wire transfer (including 3% online transaction fees). iii) Online Bidders - The same premium rates described above will be applied to those bidders who bid online. 7D. Time of Payments - For personal bids made on site, full payment is due at the close of the auction on the same day. For all winning bids other than on site personal bid, full payment is due within 7 days of the auction sale, subject to the following subsections provided below: i) Contact within 7 days - In any case, whether received invoice or not, every remote buyer (i.e., online bid, absentee bid, phone bid, or international bid) must contact Bona Estique to arrange payment and shipping within 7 days (or 5 business days in any case) after the auction sale where he/she won the lot by highest bid. ii) Credit Cards Registered - An Internet Bidder agrees and acknowledges that all purchases made from the auction liveauctioneers' website will be charged to their credit card on the day of the auction. Bona Estique is authorized by the bidder to process the card that the bidder used for bidder registration at bonaestique's website. Placing bids on items offered in this auction will bind the cardholder to all the terms and conditions of this auction. This process may be waived by sole discretion of bona Estique. 7E. Invalid or Defective Payments - Invalid or unapproved credit card purchases will be subject to a $50 processing fee for defective payment if paid in person on the day of auction. If the auction proceeds are collected later than the following business day after an auction, an additional daily penalty fee of 2% of the invoice price will be added per day. Failure to pay within seven (7) days of the end of the auction will ban the bidder from participating in any other auction by Bona Estique, and Bona Estique will share the information of the non-paying bidder with other auctions. The same rule may apply for a bounced personal check or any other invalid means of payment with similar defects. Bona Estique will hold the non-paid or defectively paid item for 30 days. If the buyer fails to make valid full payment for the purchased item within 30 days after auction sale, Bona Estique will deem the property abandoned and remove the item to a storage facility at risks, costs, and expenses of the buyer, and buyer will be still liable for the full invoice price of the item abandoned. 7F. Consequence of Failure for Due Performance - In case that the buyer i) fails to make timely payment; ii) fails to make timely arrangement for shipping or pick up; or iii) makes defective payment; the said buyer shall be liable for 1) additional costs and expenses for storage fees as provided in section 8; and 2) claim for breach of contract as provided in section 8 of this agreement. (Remedy.) 7G. Release of Property to Buyer - No property will be released until payment in full is made on the items, subject to shipping, risk of loss, and pick up terms as provided in section 8 below (Shipping, Delivery, and Pick Up). 8. Shipping, Delivery, and Pick Up 8A. Removal - All purchased property should be removed or shipped (or arranged for shipping) within 7 days (5 business days) from the premises of Bona Estique, or otherwise, they may be subject to the storage fees and/or forfeit, unless stated otherwise in below section 8B (Pick Up) 8B. Pick Up - Southern California or other local buyers must pick up their items on the day of the auction or within 7 days (or 5 business days) after auction sale. Remote bidders may arrange pick up with a local agent after providing identity of agent with auctioneers with 24 hours advance notice by utilizing phone or email. 8C. Shipping and Delivery - Packing, shipping and insurance (including reimbursement for damage or loss) of purchased lots is the responsibility of the buyer. For all other cases of remote purchase, the buyer must arrange shipping and give Bona Estique notice within 7 days (or 5 business days) after the sale. Upon request, Bona Estique may assist the buyer by arranging shipping with a third party shipper or by directly providing packing and shipping subject to the following sub sections. i) Shipping Arrangement by Buyer - Subject to exceptions stated in below section 8C ii) to vii), purchasers buying merchandise with the intention of accepting delivery of such merchandise at some point outside the state must make arrangements for prior shipment. A Bill of Lading will be required from all shippers. ii) Shipping Arrangement by Request - Bona Estique will help upon request to facilitate the employment of carriers and packers by providing names of carriers and packers to the purchasers, but will not be held responsible for the acts of such carriers or packers in any respect whatsoever. iii) Automatic Shipping by Bona Estique - Items automatically paid by registered credit cards shall be automatically shipped by Bona Estique, unless the bidder contacts Bona Estique in advance within 24 hours after the sale, and unless the item is not suitable for packing and shipping by Bona Estique, in which case Bona Estique shall contact the bidder to arrange a third-party shipper. iv) Shipping at Request - If in-state buyers provide advance notice, Bona Estique may provide packing and shipping services for the item at the regular industry rate (FedEx or UPS) unless another carrier is specified by notice of the buyer. v) Shipping for International Bidder - Please note that international bidders are solely responsible to meet all customs, import, or export regulations. The buyer understands and acknowledges that it is the buyer's sole responsibility to arrange the shipment of ivory, tortoiseshell, or rhinoceros horn out of the continental United States. Bona Estique will assist, but cannot be held liable for international law affecting the delivery of such items. vi) Shipping for Extraordinary Items - If any item, due to its size, weight, and/or sophisticated nature requires special packaging or shipping accommodation, it is an extraordinary item. Extraordinary items may require additional shipping expenses, and are subject to professional freight/delivery service. Bona Estique will find and recommend suitable third party carriers. The buyer shall also have to pay for insurance. vii) Representing Claim of Buyer - If a buyer is remote, and any damage or loss occurs to an item during transportation by a third party, Bona Estique may assist the buyer in filing proper claims for reimbursement; but will not be held liable for such loss, damage, or outcome of the said claim. 8D. Storage Fees - Unless provided otherwise in any section of this agreement, the invoice must be paid in full and merchandise picked up or shipping arrangements made within seven (7) days of the date of sale whether the winning bid comes from on site or not. After seven (7) days of sale, a storage fee of $5.00/day will be charged. If the property is not paid, picked up, shipped, or arranged to be shipped within 30 days, it will be considered abandoned and may be removed to the storage facility at full risks, costs, and expenses of the buyer. 9. Risk of Loss 9A. Effects of Winning Bid (Title Pass and Risk of Loss) - Once the Auctioneer announces the word "Sold," title to the property will immediately pass to the highest bidder acknowledged by the Auctioneer. Once title to the property has passed to the highest bidder, such bidder (a) assumes all risks and responsibilities for protecting and securing the property, (b) will pay the full purchase price plus buyer's premium and shipping charges if applicable. 9B. Buyer's Risk of Loss After Sale Before Removal - The purchased lots of property shall be taken at the buyer's expense and risk upon the conclusion of the sale. The purchased goods will be left at the sole risk of the purchaser. 9C. Loss Due to Theft, Fire, Destruction, Mis-Delivery, or etc. - In the event i) the delivery of the purchased property cannot be made; ii) Bona Estique is prevented from delivery; and/or iii) the purchased property cannot be delivered in as good condition as the same was at the time of sale, because of loss due to fire, theft, destruction, mis-delivery, or ANY other reason, the recovery of the buyer shall be limited to any sum actually paid for deposits or payments of the winning bid by the purchaser; and Bona Estique shall not be liable for any greater amount than the winning bid actually paid by the said buyer; and shall not be liable for any expectation and/or consequential damages. 10. Remedy 10A. Remedy for Breach - The highest bidder shall have purchased the offered lot in accordance with all of the conditions set forth herein and (a) assume full risk and responsibility therefore, (b) if requested will sign a confirmation of purchase, and (c) will pay the purchase price in full or such part as we may require for all lots purchased. No lot may be transferred. If the foregoing conditions or any other applicable conditions herein are not complied with, in addition to other remedies available to us and the consignor by law, including without limitation, the right to hold the purchaser liable for the purchase price, Bona Estique at our option may either i) cancel the sale, retaining as liquidated damages all payments made by the purchaser or ii) resell the property, on 7 days advance notice to breaching purchaser, either publicly or privately, and in such event the purchaser shall be liable for the payment of any deficiency plus all costs and expenses of both sales, our commission at our standard rates, all other charges due hereunder, attorney fees and incidental damages. If all fees, commissions, bid price and other sums due to us from the purchaser are not paid promptly as provided in these Terms and Conditions of Sale, Bona Estique reserves the right to impose a finance charge equal to 1.5% per month on all amounts due to us beginning on the 31st day following the sale until payment is received, in addition to other remedies available to us by law. 10B. RIGHT OF RESCISSION - Notwithstanding the preceding conditions, if within 30 days of the date of sale of any lot, the purchaser i) gives notice in writing to us alleging that the identification of Authorship described in section 6H and 6I above (only if applicable) (cf. "Signed By artist description" only) of such lot is not substantially correct; ii) such allegation is supported written documents of another expert(s) in the field whose authority can not be questioned; and iii) with 10 days after such notice returns the lots to us in the same condition as at the time of sale; and iv) establishes the allegation in the notice to our satisfaction; then the sale of such lot will be rescinded and the original purchase price refunded. Nothing in this paragraph shall be construed as an admission by us of any representation of fact, express or implied, obligation or responsibility with respect to any lot. i) Limitation of Damages - The purchaser's sole remedy in the event this paragraph is invoked is as provided herein. Consignor agrees to be bound by our judgment as to authorship and by our determination regarding rescission. The purchaser expressly acknowledges and agrees that in no event shall we liable for any compensatory, incidental, or consequential damages. ii) Limitation of Right to Rescind - However, the right of rescission does not extend to any works executed before 1870. Although our best judgment is used in attributing paintings, drawings, artifacts, and sculptures created prior to 1870 and due care is taken to ensure the correctness of the supplemental material, the right of rescission does not extend to any possible errors or omissions therein. 10C. Binding Arbitration - Any controversy or claim arising out of or relating to this Agreement, or any breach thereof, must be settled by confidential binding arbitration in Los Angeles, California in accordance with the rules of the American Arbitration Association, and judgment upon the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. Either party may, without inconsistency with this agreement to arbitrate, seek from a court any provisional remedy that may be necessary to protect trademarks, copyrights, or other rights or property pending the establishment of the arbitral tribunal or its determination of the merits of the controversy. 10D. Attorney Fee & Proceeding Costs - If any legal action including but not limited to binding arbitration is commenced to enforce these Conditions of Sale, the prevailing party, in addition to relief which the party may be entitled, shall be entitled to recover its reasonable attorney's fees and costs for proceedings. 11. Statutory Provisions - Pursuant to the statutory requirements, Bona Estique presents the followings facts, information, and the legal requirements. 11A. Auction Bond - Pursuant to California Civil Code Section 1812.600, Bona Estique is licensed to conduct auction service under state auction bond. (WS#61277322) 11B. Goods of One Person - Pursuant to 7.76.140 as mandated by Los Angeles County, we announce that property other than, and in addition to the property (or stock or goods) in any named individual's estate at this auction will also be offered for sale in this auction, as it is mixed with the named person's property. 11C. Record Keeping Requirements - Pursuant to LA municipal Ordinance (Ord. 7.76.150 Recordkeeping Requirements), Bona Estique shall keep and maintain records that contain information for the amount and date of all sales, and names of the person to whom sold (Ord. 5860). 12. Micelleneous 12A. Time of Essence - For the performance of the entire terms and conditions stated in this agreement, time is of the essence whenever there is relevant provision expressly stating the timing such as due date, period, or deadline. 12B. Binding Successor in Interest - These Conditions of Sale shall bind the successors and assignees of all bidders and purchasers; and insure to the benefit of successors and assigns of Bona Estique. No waiver, amendment or modification of the terms hereof (other than posted notices or oral announcements during the sale) shall bind Bona Estique unless specifically stated in writing and signed by Bona Estique. If any part of these Conditions of Sale is for any reason invalid or unenforceable, the rest shall remain valid and enforceable. 12C. Taxes - All purchases are subject to local sales tax for California Residents (8.75% as of Jan. 01st 2012 but may subject to change). Items to be picked up at any location in CA are also subject to the state sales tax. However items shipped or mailed out of the CA are free from the sales tax. 12D. Copyrights - The copyright in the text of the catalog and the photographs, digital images, and illustrations of lots in the catalog belong to Bona Estique, Inc. or its licensors. You will not reproduce or permit anyone else to reproduce such text, photographs, digital images, or illustrations without our prior written consent. 12E. Governing Law - These agreements of auction sale and the rights and obligation of both purchasers and Bona Estique hereunder are governed by the laws of the State of California. The laws of the State of California (without giving effect to its conflict of laws principles) govern all matters arising out of or relating to this Agreement and the transactions it contemplates, including, without limitation, its interpretation, construction, performance, and enforcement. Any dispute, controversy or claim arising out of or relating to this agreement, or the breach, termination, or validity thereof, brought by or against Bona Estique (but not including claims brought against the consignor by the purchaser of lots consigned hereunder) shall be resolved by the procedures as set forth. 12F. Jurisdiction and Venue - Except as set forth in arbitration in section 10C in this agreement (Remedy), any claims or actions regarding or arising out of this Agreement shall be brought exclusively in a court of competent jurisdiction sitting in Los Angeles County, California, and each party to this Agreement submits to the nonexclusive jurisdiction of such courts for the purposes of all legal actions and proceedings arising out of or relating to this Agreement. Each party waives, to the fullest extent permitted by law, any objection that it may now or later have to the laying of venue of any legal action or proceeding arising out of or relating to this Agreement brought in any state or federal court sitting in Los Angeles, California; and any claim that any action or proceeding brought in any such court has been brought in an inconvenient forum.
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