Rago Unreserved Auction

TERMS OF SALE THIS IS AN "AS-IS, WHERE-IS" ABSOLUTE AUCTION. NO RETURNS. Rago Arts and Auction Center 609-397-9374 (p) / 609-397-9377 (f) (Hereafter referred to as "the Auction House".) All bidders are responsible for reading and understanding these Terms of Sale, as well as any supplemental notices. If you have any questions after having read the Terms of Sale, please contact Miriam Tucker at mtucker@ragoarts.com or 609.397.9374, extension 141. 1. General ALL PROPERTY IS SOLD "AS IS". THE CONSIGNOR MAKES NO WARRANTIES OR REPRESENTATIONS OF ANY KIND WITH RESPECT TO ANY PROPERTY OFFERED FOR SALE. THE AUCTIONEER MAKES NO WARRANTY OF TITLE, WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, OR ANY OTHER WARRANTY OR REPRESENTATION OF ANY KIND OR NATURE WITH RESPECT TO THE PROPERTY. In no event shall either be responsible for the correctness of descriptions, nor deemed to have made any representation or warranty of description, genuineness, attribution, provenance or condition of the property and no statement by anyone or in the catalogue, in any advertisement, or which is made at the sale, in the bill of sale or invoice, or elsewhere, shall be deemed such a warranty or representation or an assumption of liability. All bidders acknowledge their right to have made full inspection of any and all properties prior to sale and agree to be charged with all matters such inspection may have disclosed or indicated. The Auction House retains all rights to copyright and other intellectual property contained in this catalogue. 2. Auctioneer's Determination Final A lot will be sold to the highest bidder as determined in the sole and exclusive judgment of the auctioneer. The auctioneer will also have the sole and exclusive power and authority to a) resolve any disputes between bidders, b) determine whether to pass or re-offer a lot for sale, c) reject or challenge any bid or advance in the bidding, d) exclude any bidder from the premises and e) otherwise regulate the bidders, the bidding and its increments. 3. Buyer's Premium, Purchase Price, Taxes, and Billing The buyer's premium for each lot purchased is 25% on the first $75,000 of the hammer price, 20% on the portion from $75,001 through $1,500,000, and 12% on that portion of the hammer price exceeding $1,500,000. A cash discount of 3% off the 25% buyer's premium will be applied for property purchased by cash, check, wire transfer or money order if payment is received within 15 days of sale. This effectively lowers the 25% buyer's premium to 22%. No discount will be taken off the lower buyer's premium apportioned for lots that sell at $75,001 and above. On Live Auctioneers, a buyer's premium in the amount of 28% of the successful high bid will be levied. A cash discount of 3% off the 28% buyer's premium will be applied for property purchased by cash, check, wire transfer or money order if payment is received within 15 days of sale. This effectively lowers the 28% buyer's premium to 25%. No discount will be taken off the lower buyer's premium apportioned for lots that sell at $75,001 and above. Taxes: If you are shipping to a New Jersey address or if you pick up the lots you have won at our New Jersey location, you must pay the State's 7% sales tax. The only exception is for those who hold a valid resale license and file the completed New Jersey State Sales Tax Form (New Jersey Seller's Certificate Form ST3 or Non New Jersey Seller's Certificate Form ST-3NR) with Rago's at time of payment. No New Jersey sales tax is charged for purchases shipped out of state. Billing: All successful bidders will be sent invoices by mail or e-mail the week after the auction. 4. Methods of Payment and Fees Cash. Check. Wire Transfers. Money Order. Visa. MasterCard. Discover. PayPal. All payments are due immediately upon receipt of invoice. We reserve the right to hold all goods paid for by check until payment has cleared. If payment is not received within thirty (30) days of sale, the Auction House reserves the right to impose from the date of sale a late charge of 1 1/2% a month of the total purchase price and deny all future credit. 5. Payment, Collection, and Shipping Responsibilities of Buyer Buyer Obligations: On the fall of the auctioneer's hammer, title to the property immediately transfers to the successful bidder who, in turn, becomes the buyer of the Property. The buyer assumes full risk and responsibility for the purchased Property, including all costs and expenses of handling, shipping, insurance, taxes, export, and otherwise, and is liable for the full purchase price, plus the buyer's premium, applicable taxes, and any other associated expenses. The Auction House shall not be responsible for insuring buyer's property after purchase. Collection of Property and Storage Charges: The buyer will pay for the purchased Property immediately and remove it from the premises of the Auction House except by prior arrangement with the Auction House. The Auction House may, at its discretion, remove the purchased Property to public storage at the buyer's risk and expense. Those who choose to pick up their property from the Auction House following the sale must call 24 hours in advance to arrange pick-up. Normal pick-up hours are Monday-Friday, 9:00 a.m. - 5:00 p.m., excepting the hour between 12:00 and 1:00 p.m. Property purchased and left at the auction house for 90 days will be sold or donated for you. Packing and Shipping: The buyer is solely responsible for the shipment and insurance of all purchased property. We will work with any shipper of your choosing.. We are not responsible for any damage or loss that occurs while your objects are in another's or our care after purchase is made. We will also not be responsible for any and all losses that occur during shipping. As a convenience to the buyer, the Auction House will, if requested, give your property to Masterpiece Shipping in Buckingham, PA. This company will pack and ship or arrange shipment for you via UPS, FedEx or other carrier, fully insured, for a fee payable in advance by credit card. Shipments are made within a few days after payment has been received. All international customs, duties, and other tariffs are the responsibility of the Buyer. The Auction House and Masterpiece Shipping will declare the selling price as the value in all cases. Shipping larger items: Larger items are objects such as furniture, andirons, floor vases, or any other item whose safe packing will exceed the limits of common carriers. The Auction House can arrange delivery by freight almost anywhere in the United States, fully insured, for a fee. The delivery of large, heavy, or expensive objects is not an inexpensive proposition and we urge you to consider this before bidding. 6. Buyer Default Remedies: If any of the Terms of Sale are not fully complied with by the buyer, the buyer will be in default without need of notice by the Auction House. The buyer shall be liable to the Auction House and the consignor for the total purchase price, including all premiums, charges, and expenses specified in the Terms of Sale. Interest shall accrue at the rate of 18% per annum commencing with the date of the auction. In addition to other remedies available to the Auction House by law, the Auction House may, at its option: a) cancel the sale of the lot(s) on which the buyer defaulted and of any other lots sold to the defaulting buyer at the same or any other auction(s) and retain as liquidated damages all payments made by the buyer, b) resell the purchased Property, whether at public auction or private sale, or c) pursue any combination of a) and b) above. In event of default, the buyer will be responsible to the Auction House and the consignor for any deficiency, any and all costs and expenses, including reasonable attorneys