TAMARKIN PHOTOGRAPHICA RARE CAMERA AUCTION

Terms and Conditions of Sale The following provisions constitute the entire agreement by and between Tamarkin Photographica, L.L.C. (Tamarkin), the Consignor, and the Buyer and will govern the sale of all property sold through internet bidding at the Tamarkin auction to be conducted in Woodbridge, Connecticut on October 27, 2007. 1. BUYER'S COMMISSION BUYERS WILL PAY TO TAMARKIN A COMMISSION OF TWENTY PER CENT (20%) OF BUYER'S WINNING BID PRICE. THIS COMMISSION IS PAYABLE IN ADDITION TO THE WINNING BID PRICE. 2. CONDITION OF PROPERTY All property is sold "as is" without warranty or guaranty of any kind whether expressed, implied or statutory including without limitation any warranty or guaranty as to character, fitness for a particular purpose, merchantability, physical condition, or rarity. Prospective buyers must rely solely on their own inspection and knowledge before bidding to determine such issues as age, quality, character, physical condition, mechanical and electrical function and rarity. There is no return privilege, and all sales are final. The property being offered at the auction is to be sold as collectors' items. Bidders should note that some lots might have mechanical problems or optical problems. Some lots might be in need of repair, such as shutters and/or light meters that might need repairing or adjusting, or lenses and other optical items that might require lubrication and/or cleaning. 3. WITHDRAWAL OF PROPERTY Tamarkin and Consignor reserve, in their unfettered discretion, the right to withdraw any property from auction before sale. 4. DISPUTES Any disputes between bidders shall be resolved by the Tamarkin who may re offer and resell any property over which there is a dispute. 5. BIDS, REJECTION AND RESERVES The Buyer shall be the highest bidder. Tamarkin may reject any opening bid he deems too low and withdraw the property from sale. Likewise in the course of bidding he may reject any advance as being too low. Generally, Tamarkin will require that all bids advance the price by not less than 10%. All items of property will be sold with a reserve which may be confidential. Tamarkin may bid on behalf of the Consignor to effectuate the reserve. Responsibility for bidding is ultimately the prospective Buyer's and Tamarkin assumes no responsibility or liability with regard to bidding. 6. POSSESSION, TITLE AND RISK OF LOSS Buyer will receive possession of the property only when payment has been made in full and all funds have cleared. Title and risk of loss will pass to the Buyer when the Buyer has taken possession of the property. 7. TERMS OF PAYMENT AND REMEDIES Buyer agrees to pay for property within five (5) days of sale. Payment must be made in U.S. Dollars ($) and may be made in any one of the following: cash (In House Only), check, credit card, debit card, bank draft or bank wire transfer. Purchased property will not be released to the Buyer until payment in full has cleared. In the event Buyer fails to pay for property, Tamarkin may in its sole discretion and in addition and without prejudice to any other right or remedy available to it in law or equity, exercise one or more of the following rights and remedies: A. bring an action against Buyer seeking damages for breach of contract including court costs and attorneys fees. B. rescind the sale of the property or any other lot sold to the Buyer. C. resell the property at auction or private sale and bring an action to recover any deficiency between (i) full amount owed by Buyer plus court costs and attorneys fees and (ii) the net proceeds, after payment of all expenses, received from the resale. If there is a surplus, the surplus will be paid to Consignor. D. store the property and release it to Buyer only upon payment of the full purchase price plus all direct and indirect costs of storage. E. to charge interest at 18% per annum commencing immediately after failing to pay on time. F. to retain any other lot sold to Buyer at auction. G. to apply any amount owing from Tamarkin to Buyer against the purchase price and all expenses due and owing by Buyer to Tamarkin. Tamarkin is likewise be deemed to have a security interest in any property of the Buyer in Tamarkin's possession to secure payment of the purchase price and all expenses due and owing from Buyer to Tamarkin. H. to apply any payment made by Buyer to Tamarkin for any purpose and despite any instructions by Buyer as to application, against the purchase price and all expenses due and owing. 8. SALES AND USE TAX The total purchase price of all property will be subject to all sales or use tax which Tamarkin is obligated by law to collect. The tax due on deliveries in Connecticut is 6%. In the State of New York the tax is 8.375%. Tamarkin is not obligated to collect tax on any item that is delivered outside the states of New York and Connecticut by mail order. 9. TERMS OF ADHESION By bidding at the auction, the Buyer acknowledges and agrees: A. that the foregoing terms and conditions will represent the entire agreement of the parties, provided that the terms may be altered or amended by Tamarkin prior to or at the time of auction by oral or written announcement or posted notice. B. that the rights and obligations of the parties will be construed and governed by the law of the State of Connecticut. C. that jurisdiction for the resolution of any dispute between the parties related to the auction, will be exclusively in the State of Connecticut and consents to the jurisdiction of the Connecticut State Courts and federal court for the District of Connecticut. 10. LIMITATION OF LIABILITY Tamarkin's and Consignor's liability to a Buyer shall not exceed the purchase price actually paid. 11. TAMARKIN AS AGENT ONLY Except as otherwise specifically stated in writing, Tamarkin is acting only as an agent for the Consignor. Tamarkin will have no liability for any breach by either a Consignor or Buyer. PREVIEWING Lots may be previewed from October 18 to October 26, 2007, BY APPOINTMENT ONLY, at Tamarkin Camera, 270 Amity Road, Suite 125, Woodbridge, Connecticut 06525 (203.397.9191). SHIPPING Buyer Pays Shipping Cost. Buyer is charged the direct cost plus a modest additional fee for packaging and handling. USA shipments are normally made by insured UPS. Foreign shipments are normally made by insured airmail parcel post or insured First Class or Priority or by insured Express Air Post (EMS). Insurance is available for foreign shipments up to $5,000 by US mail and, by special arrangements, up $75,000 for UPS. Note that some countries have limits of insurance and therefore the liability for shipments above a country's limit will lie with the Buyer. PAYMENT Payment can be made after the end of the sale, and, in any case, must be made within five (5) days after the close of the sale. Acceptable payment may be cash (In House Only), bank check, bank wire transfer, or credit card. (Acceptable credit cards are VISA or MASTERCARD or Discover or the equivalent.) All checks and other payments must clear before delivery of purchases unless prior arrangements have been made. Bank wire transfers may be made to: TAMARKIN PHOTOGRAPHICA, L.L.C. TD BANKNORTH, N.A., 2992 Dixwell Avenue, Hamden, Connecticut 06518 Account Number: 100 116 205 Bank Routing Number: 011103093. Taxes Shipments in Connecticut are charged 6% sales tax. Shipments to New York are charged a 8.375% sales tax. Otherwise, no sales tax is charged. CONTRACT Your bid is a contract. Place a bid only if you're serious about buying the item. If you are the successful and winning bidder, you have entered into a legally binding contract to purchase the property bid on from the seller. You should contact the seller to resolve any questions before bidding. BUYER'S PREMIUM There is a Buyer's Premium of 20%. CONDITION All items are offered "as is." There is no return privilege, and all sales are final. We have sought to express carefully in our catalogue a useful, general guide to the condition of each Lot. We have also attempted to describe any damage or restoration, but our descriptions can not be accepted as absolutely definitive and complete. The absence of such a reference does not imply that a Lot is free from defects nor does any reference to particular defects imply the absence of others. Such information is given for guidance only and the condition of any Lot, and the nature and extent of any damage or restoration, should be confirmed by examination prior to the sale. In terms of function, common sense should prevail. While we have tried to call attention to conspicuous mechanical or optical problems, one should assume that many of the Lots have seen little recent use and, therefore, have not recently been cleaned, lubricated, or adjusted. This means that many Lots, especially older cameras, might have shutter speeds and/or light meters that might need adjusting, and that lenses and other optical items might require lubrication and/or cleaning. ESTIMATES & RESERVES The estimated prices in the catalogue descriptions are the approximate prices expected to be realized, excluding Buyer's Premium. They are prepared well in advance of the auction sale and are subject to revision. Furthermore, they are not definitive and meant only to represent general guidelines. Every item in the auction has a private "reserve" price. Bidding by E-Mail, Fax, or regular Mail. We are pleased to make commission bids on your behalf. All e-mail/mail/fax/ bids must be received by 5:00 PM on Friday, October 26, 2007. Please state clearly your name, address, telephone numbers, fax numbers, date, email address, credit card number, and signature. Also list the lot number or numbers for which you would like to bid as well as your bid. Bidders who bid by mail or fax or e-mail will receive an invoice after the auction if their bids are successful. Please note that all letter and fax bids and e-mail bids will be executed at the lowest possible price. Tamarkin Photographica will treat mail/fax/e-mail bids as the maximum price which the Buyer is willing to pay and will bid only enough to exceed the reserve price or the next previous bid. VIEWING All lots are available for inspection prior to the sale. Please note the viewing schedule. Our staff will attempt to answer questions and give advice, but the final decision to bid, and the amount to bid, is at your discretion and liability. ABSENTEE CONDITION REPORTS If you are unable to attend the sale and would like information on a Lot that is not described adequately in the catalogue, please send us a fax, call, or write us. We will endeavor to answer your queries. LOCAL TAXES There is a tax of 8.375% tax which is due on all sales delivered in New York. A 6% tax is due on all deliveries made in Connecticut. However, all lots that are delivered outside New York or Connecticut are not charged any local taxes. Bank transfers may be made to: TAMARKIN PHOTOGRAPHICA, LLC TD BANKNORTH, NA 2992 Dixwell Avenue Hamden, Connecticut 06518 Account Number: 0100116205 Bank Routing Number: 011103093

There is a tax of 8.375% tax which is due on all sales delivered in New York. A 6% tax is due on all deliveries made in Connecticut. However, all lots that are delivered outside New York or Connecticut are not charged any local taxes.