Spring 2006 Vintage Fishing Tackle Auction

Auction Process Auctions provide a means by which prospective buyers are afforded a pure opportunity to buy at "fair market value". The experienced auction buyer knows the rules and format that each auction event has established. The fast paced action at our auctions makes for an exhilarating buying atmosphere. Therefore, we offer the following recommendations to enhance your chances for successful bids. Special Viewing all auctions are previewed the morning of the scheduled auction event. All auctions will start at 10:00AM est. and previewing will be available beginning at 8:00AM. The Catalog Before every auction Freeman Auctions publishes a catalog for buyer's reference. Our catalogs provide descriptions and usually a photo of each lot. Depending on the quality of the items in the auction we at our discretion will determine the use of photographs in the paper catalog. We offer our catalogs by single copy. The catalogs serve as a guide to prospective bidders. They also offer the buyer a very good reference source. The catalog is simply a tool at the prospective bidders disposal. We strongly encourage all bidders to inspect each lot or have any agent inspect each lot before the sale. A lot may contain one item or a group of items. Reserves A reserve is the minimum amount that must be reached for the item to sell. All lots in a catalog are subject to a reserve. We may accept certain limited items to have a reserve. As a generally accepted practice we encourage all consignments to be sold without reserve. Estimated Value Estimated values for each lot are posted as part of the description. The estimated prices are simply estimated guidelines on fair market price for that item. Estimated values are only one person's opinion on the value. We try and follow the grading policies as closely as possible. Ways to Bid at Auction 1. On-Site Bidding Bidders are registered prior to auction and each is issued a bidder card. Acceptance of the bidder card is also acceptance of all terms and conditions of the auction. The bidder card is held up to signify a bid. 2. Absentee Bids If you are unable to attend the auction, you may submit a sealed bid. An auction staff member will then bid on your behalf. The bidding proceeds as if you are in attendance. The staff person will try to secure the lot with the lowest possible bid. Located in the back of the auction catalog you will find a sealed/absentee bid form complete with instructions. By their submission all absentee or sealed bids signify agreement by the bidder to the terms and conditions of sale. When submitting sealed or absentee bids, please be aware of our established bid increments. 3. Live internet bidding is available through eBay Live Auctions. All bidders will be manually approved for the auction. By signing up for the auction through eBay Live auctions bidders are accepting the terms and conditions mentioned here for this event. Buyers Premium Each successful bid is subject to a 10% buyers premium for all purchases absentee and on-site bidding. Sales taxes are computed on the total purchase price. All sales are subject to the Terms & Conditions of Sale. Live auctions that are held in conjunction with eBay Live Auctions are subject to a 17.9% buyers premium. Any purchases made through eBay Live will pay the applicable buyers premium. Payment and Sales Tax The Terms & Conditions of Payment are contained in the stated policies on payment terms (see Terms & Conditions of Sale). All purchases will be charged Indiana sales Tax rate of 6%. All absentee winning bidders purchases will be considered due in full upon notification of winning bid/s. Payment will be due immediately upon receipt of such notification. Shipping We will arrange for packing and shipping at our earliest possible convenience. We try and ship all items within 3-4 weeks of payment receipt. The buyer pays all shipping and insurance charges. Terms and Conditions of Auctions 1. The following conditions of sale make up the entire terms and conditions on which items listed in our catalog and addendum sheets will be offered for sale or sold by Freeman Auctions and any client for whom we act as an agent. Any notices, posted or oral during the sale, are also part of our condition of sale agreement. 2. All bid prices "hammer prices" (means the price at which a lot is knocked down to the purchaser) will be subject to a buyer's premium payable by the purchaser of 10% of the bid price on one item. The buyer's premium on all purchases made through eBay Live Auctions is set at 17.9%. This is not an aggregate percentage on the total items bid rather a per item percentage rate. The premium is added to your successful bid and the two together equal the total purchase price. Applicable Indiana sales tax or local sales tax and other applicable tax are computed on the total purchase price. To establish a tax-free sale, a copy of a valid resellers permit or other instrument of information must be provided to our satisfaction establishing a sales tax exemption. Any purchaser claiming an exemption yet unable to provide proof will be required to pay the tax to us and seek a refund from the State of Indiana. All absentee winning bids from the state of Indiana will also pay the 6% Indiana sales tax, unless exemption is on file with us. 3. Auction sales are strictly for cash, cashier's check or checks (with prior approval of the management). All purchases made through eBay Live Auctions can settle invoices using a major credit card. At the end of the live auction and electronic invoice will be sent for your eBay Live purchases, you can click the pay now button to process the credit card payment. NOTE TO FOREIGN BUYERS: Method of payment will be U.S. currency or certified check drawn on an American bank. All sales are final at the fall of the Auctioneer's hammer. 4. At the announcement of "SOLD", the highest bidder will have purchased the offered lot. This purchase is subject to all the terms and conditions set forth herein. The purchaser assumes full responsibility thereof and if requested will sign a confirmation of the purchase. The purchaser further agrees to pay the purchase price, buyer's premium and any applicable taxes and no lot may be transferred. All items purchased by successful bidders must be paid for in full the day of sale. All property must be removed from auction premises at the purchaser's expense no later than 6:00 p.m. the day of the auction. If the property is not removed, it may be transferred to a public warehouse for the purchaser at the purchaser's risk and expense. Each purchaser at this auction grants us a security in the property purchased. We may retain as collateral security for the purchaser's obligations to us any of the purchaser's property and all monies held or received by us. We may apply against such obligations monies held or received by us for the account of, or owing to, the purchaser. We retain all rights of a secured party under the Indiana Uniform Commercial Code. Whenever the purchaser pays only a part of the total price for one or more lots purchased, we may apply such payments, at our sole discretion, to the lot or lots we choose. Payment will not be deemed made in full until we have collected all amounts due in cash on good funds (by our definition). If the conditions of sale are not complied with, in addition to remedies available to the consignor and us by law, we hold the purchaser liable for the purchase price, 10% buyer's premium, and applicable sales tax. Furthermore we at our option may either (1) cancel the sale and retain as liquidated damages all payments made by the purchaser or (2) resell the property either publicly or privately, and in such an event the purchaser shall be liable for the payment of any deficiency plus all costs and expenses of both sales and our commission at our standard rates. The purchaser is also responsible for all other charges due hereunder including attorney's fees and incidental damages, etc. 5. We reserve the right to withdraw any property prior to sale. 6. We reserve the right to reject a bid from any bidder. The highest bidder, acknowledged by the auctioneer, will be the purchaser. The Auctioneer shall have sole and final discretion as to the disposition of any dispute including the re-offer and resale of any article in dispute. If there is, any dispute after the sale, our records will be deemed conclusive in all respects. 7. If we are prevented by fire, theft, or any other reason from delivering any property to the purchaser, our liability shall be limited to the sum actually paid therefore by the purchaser and shall in no event include any incidental or consequential damages. 8. All property offered for sale is "as is", at the time of sale. Freeman Auctions does not guarantee or make warranties on any lot sold. The bold headline description is the only written statement Freeman Auctions will guarantee as correct. Descriptions in the catalog are opinion. They are written as an aid to potential bidders. We acknowledge that there may be errors in what is written beyond the bold headline description. We strongly recommend you personally view any item you bid on or have an acknowledged expert view the item. Statements starting with the word condition are opinions, not statement of fact or guarantees. If a dispute about a lot arises it will be pulled from the auction at the discretion of the auctioneer. Freeman Auctions will have no further obligation. No refunds or returns will be accepted if the above conditions are not met. Items offered for sale as described in the catalog or any bill of sale, advertisement, addendum sheet, or elsewhere as to authorship, period, culture, source, origin, measurement, quality, rarity, provenance, importance, exhibition, and physical condition are qualified statements of opinion and not representations or warranties. No employee of Freeman Auctions is authorized to make on our behalf or that of the consignor, any representation or warranty, oral or written, with respect to any property. 9. If Freeman Auctions does packing and handling of purchased lots, it is done at the entire risk of the purchaser. All items will be charged for insurance; this insurance is mandatory. We are not liable for any acts of omission in packaging or shipping. This includes purchased lots handled by outside carriers or packers even those we may have recommended. Such carriers or packers may carry their own insurance and any claims for losses or damages should be addressed directly to them. 10. The conditions of sale, the purchasers and our respective rights and obligations hereunder are governed by Indiana law. By bidding at our auction whether in person or by agent, absentee bid, online bid or other means, the buyer or bidder agrees to the contract created by these conditions. 11. The Conditions of Sale shall bind the successors and assigns of all bidders and purchasers and inure to the benefit of our successors and assigns. No waiver, amendment or modification of the terms hereof (other than posted notices or oral announcements during the sale) shall bind us unless specifically stated in writing signed by us. If any part of these Conditions of Sale is for any reason invalid or unenforceable, the rest shall remain valid and enforceable. 12. Some items in this auction may be subject to reserve (the confidential minimum price below which the lot will not be sold). We strongly discourage any consignor from using a reserve, although at times it may be necessary to utilize reserves. This will be done at the discretion of Freeman Auctions. 13. Consignors are not allowed to bid on their own merchandise or have any agent bid on their behalf. If the Auctioneer recognizes such bidding or is advised of same, the Auctioneer reserves the right to withdraw any or all items consigned by the offending consignor, no exceptions. 14. As a service to anyone wishing to place bids in advance of the sale we may accept bids at our own discretion by absentee bid or sealed bid using the forms we provide. An absentee/sealed bid form is enclosed in the back of the catalog. Bids may also be faxed to (765) 379-2597. We assume no responsibility for failure to execute absentee/sealed bids for any reason whatsoever. 15. All delivery, shipping and storage charges must be paid by the successful bidder prior to delivery of the sold lot. 16. Acceptance of a bidder card in conjunction with a recognized bid constitutes acceptance of the aforementioned Definitions of the Auction and the Terms & Conditions of Sale. 17. Limitation of Liability. Except as expressly provided above, all property is sold "as is". Neither Freeman Auctions or the consignor makes any representation or warranty, express or implied, as to the title, merchantability, fitness or condition of the property or as to the correctness of description, genuineness, attribution, provenance or period of the property or as to whether the purchaser acquires any copyrights or other intellectual property rights in lots sold or as to whether a work of art is subject to the artist's moral rights or other residual rights of the artist. All lots are sold as collector lots only. The purchaser expressly acknowledges and agrees that in no event shall Freeman Auctions be liable for any damages including without limitation any compensatory, incidental or consequential damages.