LA Art Exchange Original Artwork Auction

1.Lots Sold to The Highest Bidder: The highest bidder acknowledged by the auctioneer shall be the buyer. Under no circumstances are the consignors or the consignors‚ agents or persons acting on behalf of the consignors permitted to bid at the auction on their consigned property. The auctioneer has the right to reject any bid, to advance the bidding at his or her absolute discretion and, in the event of any dispute between bidders or any other issue with respect to the highest bidder, to determine the successful bidder, to continue the bidding or to re-offer and resell the lot in question. Auctioneer reserves the right to remove any lot prior to the auction and the day of auction. In the event of any dispute after the sale, LA ART EXCHANGE AUCTIONS record of final sale shall be conclusive. ALL SALES ARE FINAL. 2.Lots are Sold AS IS. ALL PROPERTY IS SOLD AS IS AND ALL IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS ARE EXCLUDED. NEITHER WE NOR THE CONSIGNOR OR OUR ASSOCIATES MAKE ANY REPRESENTATION, EXPRESSED OR IMPLIED WARRANTY, OR GUARANTEE IN CONDITION, SIZE, PROVENANCE, MEDIUM, SIGNATURE, INSCRIPTION, EXHIBITION (S), IMPORTANCE, RARITY, COUNTRY OR ORIGIN, AGE, GENUINENESS, SUBJECT HISTORICAL RELEVANCE, MONETARY OR OTHER VALUE, FRAMING OR LACK THEREOF, MOUNTING, CONSERVATION, COLOR (S), PALETTE, INSCRIPTION, EDITION, STYLE LABEL OR OTHER DESCRIPTOR. NO STATEMENT IN THE CATALOGUE, BROCHURES OR IN THE BILL OF SALE OR INVOICE OR BIOGRAPHIC INFORMATION OR STATEMENTS MADE BY THE AUCTIONEER DURING THE AUCTION OR ELSEWHERE SHALL BE DEEMED SUCH A WARRANTY OR REPRESENTATION OR AN ASSUMPTION OF LIABILITY. NO EMPLOYEE, SUB-CONTRACTOR, OR AFFILIATES OF LA ART EXCHANGE 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. 3.Buyer’s obligation to inspect each item: Buyers are strongly encouraged to view all items auctioned on display before the auction to determine the true condition and nature of any item(s) of interest. Although there is no legal requirement that each buyer inspect lots purchased before the auction, the failure to inspect may constitute a waiver of that buyer’s complaint that the item was not delivered in a condition equal to the existent condition at the auction as described in section 14 of these Conditions of Sale. 4.The Right to withdraw Lots: LA ART EXCHANGE AUCTIONS reserves the right to withdraw any lot before or at the sale. 5.Buyer’s Premium: The purchase price payable by a buyer shall be the sum of the final bid plus a premium of 15% of the final bid price. A 15% buyer’s premium shall apply on all purchases made via ebay Live. 6. Lots are Subject to a Reserve Price: All lots in the auction are subject to a reserve, which is the confidential minimum price below which the lot will not be sold (the reserve). In no event will the reserve price exceed the low estimate. LA ART EXCHANGE AUCTIONS shall act to protect the reserve by bidding through the auctioneer. The auctioneer may open bidding on any lot below the reserve by placing a bid on behalf of the seller. The auctioneer may continue to bid on behalf of the seller up to the amount of the reserve, either by placing consecutive bids or by placing bids in response to other bidders. The estimates provided by LA ART EXCHANGE AUCTIONS concerning a given lot, are carefully considered opinions of the cataloguer and fine art staff. Any estimates given are merely suggestive guidelines for interested buyers. Buyers must be aware that artwork are subject to fluctuating values depending on the subjective interests of collectors and a wide variety of other uncontrollable factors. The lots auctioned may sell at prices either above or below estimates. 7.Winning Bid Constitutes an Immediate Transfer of Title: Title to the offered lot shall pass to the buyer upon the fall of the auctioneer’s hammer and announcement by the auctioneer that the lot has been sold, subject to compliance by the buyer with all other Conditions of Sale. The buyer shall forthwith assume full risk and responsibility for the lot and shall pay the full purchase price or such part thereof as LA ART EXCHANGE AUCTIONS, in its sole discretion, shall require. In addition, the buyer may be required to sign a confirmation of purchase or abide by any other financial terms that LA ART EXCHANGE AUCTIONS deems necessary to protect the interest of the consignors. 8.Registration and Payment:To register for the auction a valid drivers license and credit card must be provided. Payment must be made immediately following your purchase using a major credit card. A 15% Buyers Premium and applicable taxes will apply. All artwork is sold as is and all implied warranties of merchantability and fitness are excluded. 9.Removal of Purchased lots: All items sold may not be removed from LA ART EXCHANGE AUCTION’S premises, or the premises of the auction, until the buyer has paid in full the purchase price therefore or has satisfied such terms, as LA ART EXCHANGE AUCTIONS. Subject to the foregoing, all lots are to be paid for and removed from LA ART EXCHANGE AUCTIONS premises at the buyer’s expense no later than the third calendar day following the sale. If a lot has not been collected the third calendar day following the buyer will be liable to LA ART EXCHANGE AUCTIONS for storage and handling charges of $10.00 per day for each lot. In addition to other remedies available by law, LA ART EXCHANGE AUCTIONS reserves the right to impose a late charge of 1% per month or the maximum permitted by law on the purchase price commencing on the day following the date on which payment is due if the buyer does not make payment in full in accordance with these Conditions of Sale. 10.Absent Bidders: Bids which are submitted to LA ART EXCHANGE AUCTIONS in writing, the internet or are otherwise left with LA ART EXCHANGE AUCTIONS prior to an auction for execution at or below a specified price (Absentee bids), as shall be entertained and executed by LA ART EXCHANGE AUCTIONS for the convenience of bidders not present at auction, but LA ART EXCHANGE AUCTIONS shall not be responsible for failing to execute such bids or for errors relating to our execution of such bids. Bidding on any article(s), whether in person, by agent, internet bid, or other means, constitutes the highest bidders acceptance of these Conditions of Sale. All absentee bids must be received by LA ART EXCHANGE AUCTIONS prior to the day of sale. 11.Applicable taxes: Unless exempted by California law, the buyer shall be required to pay any applicable state and local sales tax or compensating use tax on the purchase price. 12.Buyer’s Breach of Conditions of Sale: If the buyer fails to comply with any of these Conditions of Sale, LA ART EXCHANGE AUCTIONS may, in addition to asserting all remedies available by law, including the right to hold such defaulting buyer liable for the purchase price, (I) cancel the sale, retaining as liquidated damages any payment made by the buyer, (II) resell the property without reserve at public auction or privately on seven days notice to the buyer, or (iii) take such other action as we deem necessary or appropriate. If LA ART EXCHANGE AUCTIONS resells the property, the original defaulting buyer shall be liable for the payments of any deficiency in the purchase price and all costs and expenses, including warehousing, the expenses of both sales, reasonable attorneys‚ fees, commissions, incidental damages and all other charges due hereunder. In the event that such buyer pays a portion of the purchase price for any or all lots purchased, LA ART EXCHANGE AUCTIONS shall apply the payment received to such lot or lots that LA ART EXCHANGE AUCTIONS, in our sole discretion, deems appropriate. LA ART EXCHANGE AUCTIONS shall have the benefit of all rights of a secured party under the Uniform Commercial Code adopted in the State of California where the auction is held. 13.Governing Law, Venue and Jurisdiction: The rights and obligations of the parties with respect to the Conditions of Sale and the conduct of the auction shall be governed and interpreted by the laws of the State of California. By bidding at an auction, whether present in person or by agent, by absentee bid, telephone or other means, the buyer shall be deemed to have consented to the exclusive jurisdiction of the courts of such state and the federal courts sitting in such state. Further, the buyer agrees that the venue for any action arising out of the failure to abide by the Conditions of Sale, or any conduct related to or arising out of the auction, shall be the Los Angeles Superior Court. The buyer expressly agrees that (i) neither LA ART EXCHANGE AUCTIONS nor the seller shall be liable, in whole or in part, for any special, indirect or consequential damages, including, without limitation, loss of profits and (ii) the buyer’s damages, if any, are limited exclusively to the original purchase price paid for the lot. 14.Delivery of Lots Sold: The packing and handling of purchased lots by LA ART EXCHANGE AUCTIONS Auctioneer’s staff at the auction is undertaken solely as to customers picking up their items the day of sale. There is no charge for packing material and labor supplied to you on the day of the sale. In no event will LA ART EXCHANGE AUCTIONS be liable damage to painting, glass or frames regardless of cause in connection with this free service. A delivery charge of 30.00 will be for local deliveries only. It is the buyer’s responsibility to set-up an appointment for delivery the day of the auction sale. Should the buyer not be present at the delivery appointment they will be charged a $50.00 fee. A third party vendor of LA Art Exchange Auctions choice will be made available for shipping domestically and internationally. LA Art Exchange Auctions is not responsible for any negotiations or issues that may arise through the use of this third party vendor. 15.Notices, Demands with the lot(s) sold or notices of any kind concerning the auction shall be in writing and addressed to LA ART EXCHANGE AUCTIONS, 342 South Spalding Drive, Unit E Beverly Hills, CA 90212 16.Effect of any Unenforceable Provisions: Should any of the Conditions of Sale be deemed unenforceable by a competent court having jurisdiction, such unenforceable provision shall have no effect on the enforceability of the remaining provisions contained in the Conditions of Sale.

Local Taxes Apply