HOLIDAY MID CENTURY MODERN AUCTION

These Conditions of Sale are applicable to every purchase at LOT58 Auction. Please read carefully. By registering to bid at auction, in person, or through an agent, by absentee bid, or telephone or any other means including the Internet and e-mail, you agree to be bound by these Conditions of Sale (and changes made as noted below.) All property and every lot for sale in our catalog is offered subject to the following terms and conditions, along with any changes that may be published or announced prior to or during a sale by LOT58 Auction . The terms ?LOT58? ?us,? ?we,? or ?our? as used herein all refer to LOT58 Auction. Unless otherwise indicated in the catalog or at time of sale, LOT58 acts at all times solely as the agent for the seller. All sales shall be deemed to occur in California regardless whether by telephone, mail or through the Internet or the physical location of the buyer. Definitions Hammer price: The highest bid received for a lot upon the fall of the auctioneer?s hammer. Buyer?s premium: The amount paid by the buyer as a percentage of the hammer price and in addition thereto. Purchase price: The aggregate of the hammer, buyer?s premium and applicable taxes or other fees, if any, as may be required by law. Reserve: The minimum price at which the lot may be sold. Buyer: The person or entity who buys property at auction or private sale. Consignor: The seller, or the seller?s representative, on behalf of whom we are selling the Property. Lot: The single item or group of items offered by us for sale. Property: The item or items comprising an auction lot being offered for sale. Buyer?s Premium The Buyer shall pay a Buyer?s Premium per lot which shall be retained by LOT58 as follows: Twenty one percent (21%) and if paid with cash or personal check Eighteen percent (18%). If you choose to pay by credit card (Visa, Mastercard, Discover or AMEX only) or any other form of payment, the buyer?s premium is twenty-one percent (21%) All successful live internet bidders will be charged an Internet Buyer?s Premium of twenty-three percent (23%) Terms of Sale a. The Purchase of and Payment for Property The sale of a lot shall be to the highest bidder as determined by the auctioneer, in accord with these Conditions of Sale. Title to the lot shall pass with the fall of the Auctioneer?s hammer. Buyer shall pay the Purchase price, as defined above, and such other fees as may be due, in full, within seven (3) days of the auction sale. Sale is not final and property will not be released to Buyer until good funds for all amounts due, are received by LOT58. Payment may be made (i) in cash, (ii) by wire transfer (additional $25 fee) No lot shall be transferred by Buyer to another person until the sale is final. In the event of partial payment for any lot or lots we shall apply payments, in our discretion, to the lot or lots we select. The Buyer grants LOT58 a security interest in the purchased Property, and we may retain as collateral any property purchased and any funds in our possession, to secure a Buyer?s obligations to us, if any. We retain the rights of a secured party under the California Commercial Code. All fees, taxes, premiums or other sums due and not paid pursuant to this paragraph shall bear interest at 1.5 % per month from the 4th day following the sale to the date paid in full. b. Collection of Property Upon transfer of title, Buyer assumes full responsibility, including risk of loss and damage, for the Property. Purchased property shall be removed at Buyer?s expense within seven 7) days after the sale becomes final. Property not removed shall be subject to a service fee of $50, and a storage fee, if retained by LOT58, of 1% of the purchase price per month. LOT58 may also, in its sole discretion, elect to place the Property in a public storage facility at the Buyer?s sole risk, responsibility and expense. c. Liability for delivery of property. If, however, for any reason whatsoever, we are unable to deliver the purchased Property to the Buyer, LOT58 shall be liable to the Buyer only for the Purchase price paid by the Buyer and in no event shall we be liable for incidental or consequential damages, including, but not limited to, business interruption or loss of profit. The Auction Procedure a. Registration Bidders must register in advance to bid at auction. (a) If by mail or on the Internet please comply with, sign and send back the requisite form or absentee bid. (b) To telephone bid, Bidders must complete, sign and fax a copy of the Telephone Bid Registration Form, which is available only by calling LOT58. Telephone lines are limited, and available on a first-come, first-serve basis. Registration to bid by telephone must be completed by 5 p.m. the day prior to the auction. (c) When intending to bid in person, pre register at the desk and obtain a bidding paddle. The auctioneer may refuse to recognize any person not registered and not having a paddle number. LOT58 reserves the right at its sole discretion, to refuse anyone the right to register and participate at an auction. b. Announcements We may, at the commencement of, or during the Auction, announce changes in or modifications to the Conditions of Sale or descriptions of Property. c. Absentee Bids For a Buyer?s convenience, absentee bids will be accepted, when properly executed and submitted in a timely manner. However, we neither accept any responsibility to an absentee bidder, nor any liability whatsoever for a failure to execute the absentee bid for any reason. In the event that identical multiple absentee bids are the highest bids received for the same lot then the earliest received of the competing absentee bids shall prevail at that bid amount. d. Auctioneer?s Discretion The Auctioneer has the absolute discretion to 1) pass a lot or withdraw it from sale at any time prior to its actual sale; 2) refuse to recognize any bidder; 3) refuse to recognize any bid; 4) resolve any dispute between bidders or resolve any doubtful bid by deciding who is the successful bidder or nullifying the auction of the lot and reoffering it for sale. The Auctioneer?s decision is binding as to disputes arising at auction. If a dispute arises post sale, our records of the sale shall be conclusive. Both the Auctioneer and LOT58 shall be without any liability whatsoever resulting from the exercise of the discretion referred to herein. e. Reserves All Property is offered for sale subject to a Reserve unless otherwise stated by us at time of sale. Neither the consignor nor an agent or representative of the consignor is allowed to bid on their own property. Disclaimer of Warranties Except for warranty of title, neither we nor the Consignor make any warranties, guarantees or representation, express or implied, with respect to the Property, including, but not necessarily limited to, any implied warranty of ?fitness for purpose? or ?merchantability.? Any and all statements and descriptions in any catalogue or elsewhere by LOT58, relating to age, attribution, authenticity, size, genuineness, provenance, historical relevance or significance, physical condition, importance, quality, quantity, rarity, period, culture, source or origin, are presented as statements of qualified opinion only.ALL MEASUREMENTS LISTED ARE CONSIDERED APPROXIMATE. LOT58?s disclaimer of liability covers information contained in catalogues, and all other printed material published by us, including condition reports. Buyers assume the responsibility to inspect the Property and make their own decision as to the nature, quality and value of the Property. Neither LOT58 nor the Consignor make any warranty or representation with regard to the existence of or the transfer of intellectual property rights, except and to such extent as may, from time to time, be explicitly stated. No employee of LOT58 is authorized to nor shall make any warranty or representation on LOT58?s behalf, except as stated in the catalog or in any written addendum.