Below are our auction Terms of Sale. Please read them over, as they are applicable to those bidding online as well as through the mail or at the live auction itself. A submission of bids in this action constitutes your acceptance of these Terms of Sale.
1. This is an auction sale, not an approval sale. When the auctioneer calls "sold" or the hammer falls this constitutes a purchase at the price hammered. The auction house has final discretion in all matters. In case of dispute, the lot(s) in question may be resold. Lots will be sold in their numerical sequence unless the auctioneer directs otherwise.
2. Payments must be made in full within 5 business days and arrangement for removal of lots must take place within 7 days after the auction. Absolutely no lots will be released until payment in full has been made. Payment (in U.S. funds) may be made in cash, by personal check (with proper identification, at the discretion of (Innovative Art LLC) or by MasterCard, Visa, Discover or American Express credit cards if the purchase is over $100. Please note that a 4% additional charge will be added to all credit card purchases. Paypal is also accepted with 3.5% service fee added to final price. If prompt payment is not made, Innovative Art LLC reserves the right to resell the lots and charge the original bidder with both the difference and the expenses incurred.
3. A 22% buyer's premium will be added to the final hammer price of each lot purchased through Innovative Art LLC, and will be paid by all bidders, without exception!
3a. Bid "LIVE" at "Real Time" via LIVE AUCTIONS. All Innovative Art LLC auctions are available for WORLDWIDE "live" bidding from your computer! The buyer's fee for "LIVE" Live Auctioneers bidding is 22%. You must register on-line via the link provided in the sentence above.
4. Appropriate state and local Sales Tax (8.75%) will be added to all California invoices, unless a valid seller's permit is on file with Innovative Art LLC. prior to any bidding in the auction. Coin purchases of $1500 and over are also sales tax exempt to buyers? within California. Items shipped outside of California and the United States of America are also sales tax exempt.
5. No lots purchased by a floor bidder may be returned, including those lots where the bidder is acting as agent for another, or to mail bidders who have examined the lot(s). There are no returns or refunds accepted. Additional photos and condition reports will be made available for all those who request. The auctioneer will do his best to accurately describe each lot but will not be held responsible for inaccuracies. We offer no guarantees, either written or implied, as to our descriptions. Late remittance constitutes just cause for revocation of all return privileges.
6. "Absentee" BIDS may be left prior to and or during the auction, and will take priority over an identical floor bid. In case of a tie mail bid, the earliest received bid will take priority. Mail bids sent via United States mail, E-mail, FAX or phone will be executed by Innovative Art LLC., at no charge. Your bids will be started at a small increment over the next highest bid, saving the bidder money wherever possible. Innovative Art LLC will not be held responsible for any errors in bidding made on behalf of a mail bidder. Innovative Art LLC reserves the right to refuse any mail bids under 50% of the estimates. Mail bids that are accepted for under 50% of the estimated price may be used as a starting bid on that particular lot.
7. Shipping is the responsibility of the buyer. All bidders will receive an invoice detailing the purchases, sales tax, charges and the buyer's premium, After payment a separate invoice will be added or generated listing shipping and handling charges. All collectibles will be mailed only upon receipt of payment in full and will be insured for their full value where applicable. Items shipped outside of the USA may need the buyer to provide their own insurance. All lots are shipped at the buyer's risk upon clearance of payment. We will NOT falsify customs value on international shipments! Please note that items of Persian or Iranian origin are subject to US trade restrictions, which prohibit their export out of the United States, with no exemptions. Oversize and/or delicate lots may have to be shipped via a third party.
8. Estimates are given at the end of each lot description and serve only as a guide. They are not given as starting points for bidding. Bids below 50% of the estimate have little chance of success and may not be recorded. Bidding will start at an increment above the second highest mail or absentee bid received. Lots may sell for a price greater than or less than these estimates.
9. The auctioneer may open the bidding on any lot by placing a bid on behalf of the seller. The auctioneer may bid further on behalf of the seller up to the amount of the reserve, by placing successive bids for any lot, or by placing bids in response to other bidders. The auctioneer may accept or decline any bid, or challenge to any bid, as he in his sole discretion shall determine.
10. Floor and mail bidders who have not yet established credit with Innovative Art LLC must furnish satisfactory credit references or deposit at least twenty-five percent (25%) of their total bids for that session(s) or such other amounts as Innovative Art LLC may require before such bids will be accepted. Deposits submitted will be applied to purchases and any unused portion of such deposit will be promptly returned.
11. In the event a successful bidder fails to make payment when due, Innovative Art LLC reserves the right to re-sell the merchandise and bidder agrees to pay for the reasonable cost of such a sale and also to pay any difference between the resale price and the previously successful bid, together with any incidental costs of sale and disbursements.
12. If the auction invoice is not paid for in full when due per invoice terms, the unpaid balance will bear interest at the highest rate permitted by law until paid in full. If the matter is referred to an attorney for collection, bidder agrees to pay all reasonable attorney fees, court costs and other collection cost incurred by Innovative Art LLC to collect past due invoices and that the services of process by certified or registered mail, return receipt requested, shall be sufficient to confer "in personam" jurisdiction over bidder.
13. Buyer agrees that any claim of controversy arising out of, or relating to the formation, interpretation of performance of these terms and underlying transactions or the breach thereof, is subject to arbitration or judicial proceedings and shall take place within the County of Los Angeles subject to the laws of the State of California.
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