Modern Art & Design Auction

CONDITIONS OF SALE It is important to Bremo Auctions that all bidders understand the terms and conditions under which its auctions are conducted. By bidding on an item through Bremo Auctions you are hereby accepting the terms and conditions of sale as set forth below. 1. Some of the lots in this sale are offered subject to a reserve. The reserve is a confidential minimum price agreed upon by the consignor and Bremo Auctions below which the lot will not be sold. In most cases, the reserve will be set below the estimated range, but in no case will it exceed the estimates listed. Bremo Auctions will execute such reserves by bidding for the consignor. In any event and whether or not a lot is subject to a reserve, the auctioneer may reject any bid or raise not commensurate with the value of such lot. 2. All property is sold 'as is,' and neither the auctioneer nor any consignor makes any warranties or representation of any kind or nature with respect to the property, and in no event shall they be responsible for the correctness, nor deemed to have made any representation or warranty, of description, genuineness, authorship, attribution, provenance, period, culture, source, origin, or condition of the property and no statement made at the sale, or in the bill of sale, or invoice or elsewhere shall be deemed such a warranty of representation or an assumption of liability. 3. Except as provided in paragraph 1 above, the highest bidder as determined by the auctioneer shall be the purchaser. In the case of a disputed bid, the auctioneer shall have sole discretion in determining the purchaser and may also, at his or her election, withdraw the lot or reoffer the lot for sale. The auctioneer shall have sole discretion to refuse any bid, or refuse to acknowledge any bidder. 4. All bidders may be requested to give their name, residence, business address, telephone number, driver's license and credit card. Bremo Auctions shall have the right to reject any bid from anyone who has not established credit with Bremo Auctions prior to the auction. Any bidder that plans on spending in excess of $100,000 should make arrangements at least five (5) days in advance of the sale, as a deposit may be required to participate. 5. Property purchased by a successful bidder may not be removed from the auction sale premises until the full purchase price plus the buyer's premium and all applicable taxes have been paid. The purchaser must pay for and remove all property from the auction premises on the same day as the auction sale. 6. All merchandise purchased must be paid for and removed from the premises the day of the auction. Bremo Auctions shall have no liability for any damage or loss to property left on its premises. If any property has not been removed, at the option of Bremo Auctions, (a) Bremo Auctions, may impose, and the purchaser agrees to pay, a monthly storage charge of $75 per lot plus 1.5% of the purchase price of any lot or portion of a lot not removed, and/or (b) Bremo Auctions may place the merchandise in a subsequent auction, without reserve, to be sold to the highest bidder, and after deducting the standard commission and any additional charges that may apply, remit the proceeds to the purchaser. 7. Bremo Auctions accepts cash, check, cashier?s check, wire transfer, Visa and Mastercard for payments less than $5,000. For payments more than $5,000, credit cards will not be accepted for any part of the payment. Personal checks will be accepted only if credit has been established with Bremo Auctions or if a bank authorization has been received guaranteeing a personal check. Bremo Auctions reserves the right to hold merchandise purchased by personal check for 10 days after the check has cleared the bank. The purchaser agrees to pay Bremo Auctions a handling charge of $50.00 for any check dishonored by the bank. 8. If the purchaser breaches any of its obligations under these Conditions of Sale, including its obligation to pay in full the purchase price of all items for which it was the highest successful bidder, Bremo Auctions may exercise all of its rights and remedies under the law including, without limitation, (a) canceling the sale and applying any payments made by the purchaser to the damages caused by the purchaser's breach, and/or (b) offering at public auction, without reserve, any lot or item for which the purchaser has breached any of its obligations, including its obligation to pay in full the purchase price, holding the purchaser liable for any deficiency plus all costs of sale. 9. In no event will the liability of Bremo Auctions to any purchaser with respect to any item exceed the purchase price actually paid by such purchaser for such item. 10. Shipping is the responsibility of the purchaser. Upon request, our staff will provide the list of shippers who deliver to destinations within the United States and overseas. Some property that is sold at auction can be subject to laws governing export from the U.S., such as items that include material from some endangered species. Import restrictions from foreign countries are subject to these same governing laws. Granting of licensing for import or export of goods from local authorities is the sole responsibility of the buyer. Denial or delay of licensing will not constitute cancellation or delay in payment for the total purchase price of these lots. 11. All purchases are subject to the Virginia 5.3% sales tax unless the purchaser possesses a Virginia sales tax exemption number. Exemption numbers from other states are accepted in the Commonwealth of Virginia if presented with a business card or letterhead. Dealers, museums, and other qualifying parties can apply for a Virginia exemption number prior to the auction by contacting the state of Virginia. 12. Except for property purchased via on-line Auctions, or on Friday auctions, a premium equal to 20% (discounted to 18% for cash and check transactions) of the final bid price up to and including $500,000, plus 12% of the final bid over $500,000, will be applied to each lot sold, to be paid by the Buyer as part of the purchase price. For example, if the final bid is $100, the purchase price is $120. All purchases are subject to state and local taxes where applicable, which are computed on the purchase price. The buyer's premium on property purchased via on-line Auctions will be in an amount up to 23% of the final bid price. The buyer's premium on property purchased during Friday auctions should be 15%. 13. Bidding on any item indicates your acceptance of these terms and all other terms printed within, posted, and announced at the time of sale whether bidding in person, through a representative, by phone, by Internet, or other absentee bid. 14. If the purchaser fails to fulfill these conditions, in addition to all legal remedies available to Bremo Auctions, Bremo Auctions may: a) cancel the sale and retain any payments made as liquidated damages; b) resell the property for the account of the buyer, in which case the buyer shall be liable to Bremo Auctions for all its costs and damages, including the commissions for both auctions; c) remove the property to a warehouse for the account and at the risk and expense of the buyer. 15. Bremo Auctions and its consignors make no warranty or representation, express or implied, that the purchaser will acquire any copyright or reproduction rights to any lot sold. Bremo Auctions expressly reserves the right to reproduce any image of the lots sold in this catalog. The copyright in all images, illustrations and written material produced by or for Bremo Auctions relating to a lot, including the contents of this catalog, is, and shall remain at all times, the property of Bremo Auctions and shall not be used by the purchaser, nor by anyone else, without our prior written consent. 16. These conditions of sale shall be governed by the laws of the Commonwealth of Virginia (excluding the laws applicable to conflicts or choice of law). The buyer/bidder agrees that any suit for the enforcement of this agreement may be brought, and any action against Bremo Auctions in connection with the transactions contemplated by this agreement shall be brought, in the courts of the Commonwealth of Virginia or any federal court sitting therein. The bidder/buyer consents to the nonexclusive jurisdiction of such courts and waives objections that it may now or hereafter have to the venue of any such suit.

Any statements made by Bremo Auctions about any lot, whether orally or in writing, concerning attribution to, for example, an artist, school, or country of origin, or history or provenance, or any date or period, are expressions of our opinion or belief. Our opinions and beliefs have been formed honestly and in accordance with the standard of care reasonably to be expected of an auction house of Bremo Auctions' standing, due regard having been had to the estimated value of the item and the nature of the auction in which it is included. It must be clearly understood, however, that, due to the nature of the auction process, we are unable to carry out exhaustive research of the kind undertaken by professional historians and scholars, and also that, as research develops and scholarship and expertise evolve, opinions on these matters may change. We therefore recommend that, particularly in the case of any item of significant value, you seek advice on such matters from your own professional advisers.

Any condition statement is given as a courtesy to a client, is only an opinion and should not be treated as a statement of fact. Bremo Auctions shall have no responsibility for any error or omission. The absence of a condition statement does not imply that the lot is in perfect condition or completely free from wear and tear, imperfections or the effects of aging.