ESTATE FINE ART & ANTIQUE AUCTION

Kensington Estate Auction - Terms and Conditions INTRODUCTION: Kensington Estate Auction acts as agent for various consignors. Kensington Estate Auctions is not acting as an agent for the bidder or buyer. Kensington Estate Auction has taken care to describe and depict all items fairly and as accurately as possible, but takes no responsibility regarding authenticity, condition, or description. Descriptions may be altered at any time by notice or announcements. Please call our administrator: 917.331.0807 (for registration, absentee bidding, payment &/or shipping) or our auction specialist: 917.783.1067 or email: kensingtonauc@aol.com with any questions. Bidding can happen online, phone and absentee bids after registration and acceptance by Kensington Estate Auctions. By registering to bid you agree to be bound by all terms and conditions of sale. Bidding on any item indicates acceptance of the following terms: TERMS AND CONDITIONS OF SALE: 1) REGISTRATION All prospective on-line bidders are required to register with Liveauctioneers.com in advance of the auction. If bidding by phone or absentee (left) bid, bidder must provide all information required, by requesting an Absentee Form. We may require photo identification, credit card information and or bank references for registration. By bidding during the auction, a buyer assumes responsibility to pay the purchase price bid plus the buyer's premium and any additional charges that become due and payable in connection with the purchase, taxes, delivery, packing & shipping, or storage of property. Auctioneer reserves the right to refuse to register any prospective bidder for any reason. 2) BUYER PREMIUMS All bidders are subject to a buyer's premium, which will be added to the hammer price for each lot sold. All on-line bidders are subject to a 22% buyer's premium. All off-line bidders (phone, left and absentee bids) will be charged 18%. For all International wire transfers, an additional 2% will be added to hammer price plus buyers premium. 3) PAYMENT All sales must be paid for within seven BUSINESS DAYS of the sale or penalties may be incurred. Full payment is in US dollars and includes hammer price plus the buyer?s premium. Please pay the amount on the official invoice from Kensington Estate Auctions, Liveauctioneers.com or PayPal. Acceptable forms of payment include certified bank check, wire transfer, MasterCard, Discover, Visa or PayPal. Buyers who have established accounts with Kensington Estate Auctions prior to the auction may pay by check. Unless payment arrangements have been made directly between the buyer and Kensington Estate Auctions, we reserve the right to charge 30% of the invoice to the credit card on file for any bidder who has not paid in full within seven business days of being invoiced. 4) BIDDING Live Internet bidding is available. Kensington Estate Auctions is not responsible for live internet bids that are not sent, received or executed by the administrator. Starting price is displayed, as are the bidding increments for each item. Phone bids: If a bidder makes arrangements with Kensington Estate Auctions prior to the start of the sale, Kensington Estate Auctions will use reasonable efforts to contact bidder to enable them to participate in the bidding by telephone. We will place the call 5-7 lots in advance of the lot in question. Kensington Estate Auctions is not responsible for failure to contact bidder or for error and omissions in connection with telephone bidding. Absentee/Phone bid form can be found on our website: www.kensingtonestateauctions.com . Absentee bids: Absentee bids will be incorporated in the bidding. Kensington Estate Auctions is not responsible for errors or failure to execute the written bid or for errors or omissions in connection with the written bid. Lots are bought for absentee bidders at the lowest possible price subject to other bids or reserves. Absentee bid forms can be found on our website: www.kensingtonestateauctions.com . 6) ESTIMATES Estimates are intended to be rough guides of value and do not necessarily reflect actual value or hammer price. All values are in US dollars. 7) WITHDRAWAL Kensington Estate Auction reserves the right to withdraw any lot from the sale at their discretion. AFTER SALE 8) RESPONSIBILITY Once property is sold the buyer assumes all risk of loss or damage to the property. The buyer assumes responsibility for all costs and expenses related to the sale. Ownership passes to the buyer when full payment is received. Kensington Estate Auctions will hold purchased lots for no more than fifteen days waiting for payment or shipping instructions. Beginning on the sixteenth day a storage fee of twenty-five ($25) dollars per item per week will be charged and added to the clients invoice. Kensington Estate Auctions will consider winning bid items abandoned if the buyer has not communicated with the auction house within fourteen (14) business days after the close of the sale. At that time, Kensington Estate Auctions will regain ownership of the items (s). 9) SALES TAX All New York State residents are subject to New York state sales tax (Ulster County, NY 8%) unless the purchaser possesses a tax-exempt number, which must be on file with Kensington Estate Auctions. Kensington Estate Auctions also requires a New York State form ST-120 on file. International buyers assume responsibility for any additional taxes or fees associated with shipment destinations. 9) SHIPPING In-house shipping can be offered to our buyer?s as a courtesy, which includes in-house packing, shipping and insurance, unless otherwise noted in the lot description. Standard shipping policy is that purchases must be paid for before any packing/shipping will be done. Customers are required to make two (2) separate payments, one for payment of item(s) and one for shipping. The buyer is responsible for all costs incurred for shipping. If a buyer would like the shipping out sourced, a list of suggested shippers is below. Regardless of shipping method, our auction house must have received cleared funds to release property to the shipper. We will not be held responsible for choosing a shipper in the event of any act and/or omissions in packing. We do not assume responsibility for damages. The minimum handling charge is $20 plus packing and shipping materials, insurance and the actual cost of shipping. We handle and package items in the order of payment receipt. Once our accounting department has notified our shipping department that full purchase payment has been made, our shipping department will contact you regarding all shipping costs. Successful bidders are responsible for the collection / shipment of their purchase within fourteen (14) days after the end of the auction. Failure to do so will incur a storage fee of twenty-five ($25) per item per week. Kensington Estate Auctions is not responsible for any loss or damage to property left for more than 14 days after sale. Shipping charges are non-refundable. For items indicated, ?no in-house shipping?, below are suggested shippers, which the buyer may choose to contact. The buyers may also choose their own shipper. In either case the buyer must complete auction payment to Kensington Estate Auctions in full before items are released to shippers. Kensington Estate Auctions will not obtain multiple quotes or negotiate between shippers on the buyer's behalf. Kensington Estate Auctions will be provided signed authorization for release of the property that states your name, sale date, lot number and choice of shipper. If a loss or damage should occur during shipping, it is incumbent upon the buyer to file for recovery of any losses incurred. Under no circumstance can the claim exceed the hammer price (not including the buyer?s premium). Suggested shippers: PDQ (New Paltz, NY 12561 ? 845.255.5500) uses both FED-EX and UPS; UPS Store (Newburgh, NY 12550 ? 845.561.5950); FED-EX (Newburgh, NY 12550 ? 800.463.3339). PROPERTY 10) SOLD AS IS All property is sold AS IS. All sales are final no returns. Descriptions of size, condition, subjects, dates etc. are made to the best of our knowledge but are opinions only. Images are provided online. Prospective buyers should be aware that these images cannot possibly provide all visual and physical information needed for informed decisions. Bidders are encouraged to call or email any outstanding questions, prior to the auction. 11) RECESSION OF SALE Recession of sale by the Kensington Estate Auctions: If we become aware of an adverse claim by a third party relating to property purchased by the buyer, we may, in our discretion, rescind the sale. The buyer will promptly return the property to us, at which time we refund the hammer price. This refund will represent the buyer's sole remedy against us and/or the consignor in case of a recession of sale under this paragraph.