Fine Art Auction

Conditions of Sale Sale Date: June 8, 2008 - 2PM Gratz Gallery & Conservation Studio is conducting this auction event with a licensed auctioneer (#AU-002041-L) on June 8, 2008, 2 PM, at the Eagle Fire Company at 46 Sugan Rd., New Hope, Pennsylvania. The items for auction are both from the inventory of Gratz Gallery & Conservation Studio, as well as items accepted on consignment for sale at this auction. A portion of the proceeds from all items sold at this auction will be donated to the Salvation Army Kroc Center Project. Hereinafter, Gratz Gallery & Conservation Studio and the owners or others authorized to sell the items are hereinafter referred to as Sellers. The person or persons acknowledged by the auctioneer to be the highest bidder on an item shall be hereinafter referred to as the Buyer or Buyers. Gratz Gallery & Conservation Studio reserves the right to change the terms of sale by oral announcement. Any such change shall become part of the Conditions of Sale. By placing of a bid, whether present at the sale in person or by agent, by written or oral bid, by telephone or other means, the Buyer agrees to be bound by these conditions of sale. 1. The highest bidder acknowledged by the auctioneer shall be the Buyer. In the event of any dispute between bidders, the auctioneer has the absolute discretion to determine which bidder is the successful Buyer or to re-offer the item in dispute and resell it. 2. In the event of any dispute after the sale, Gratz Gallery & Conservation Studio's record of the final sale price and of the successful buyer shall be conclusive. 3. Gratz Gallery & Conservation Studio reserves the right to sell items which are not listed in the catalogue as well as the right to withdraw any lot before or during the sale. 4. 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 Gratz Gallery & Conservation Studio, in its sole discretion, shall require. In addition, the buyer may be required to sign a confirmation of purchase. 5. Many items in the auction are sold subject to a reserve. Such reserve is confidential, but in no case will the reserve exceed the low estimate. The auctioneer may reject any bid or increment not commensurate with the value of the lot, and the auctioneer may also execute bids on behalf of the Seller to protect the reserve. 6. For those unable to attend the auction, an absentee bid service is available as a convenience to our patrons. Gratz Gallery & Conservation Studio will not be held responsible for error or failure to execute the bid(s). The bid must be in writing and forms are available. Please call us for additional information - 215-862-4300. Bid forms must be completed and returned by June 7, 2008 at 5PM. Such bids will be executed at the lowest price taking into account the reserve price and other bids. If two or more parties have entered matching bids, the first bid received shall take preference. The auctioneer may execute bids for absentee bidders directly from the podium. A. Everyone leaving an absentee bid must be willing to leave their credit card number to assure payment of a successful bid(s). B. Any illegible bid(s) will be disregarded. C. A 6% PA sales tax will be added to the sales total unless a tax exempt number is on file in our office by the day of the auction. D. A 15% Buyer's Premium will be added to each purchase. E. All successful bids requested to be shipped to the buyer will be sent with shipping costs charged to the same credit card. F. Bids are executed in competition with the audience on an alternate basis. Due to uncertainties of bidding, a lot may sell to the audience for the same amount authorized by the absentee bid. To avoid this possibility, the absentee bidder may authorize Gratz Gallery & Conservation Studio to increase their bid by one increment by placing a (+) sign beneath the bid price. G. Successful absentee bidders will be called the day after the auction with bid information. Items not paid for and picked up will be subject to resale within 10 business days with the purchaser liable for any deficit. 7. A premium of 15% of the successful bid will be applied to the hammer price of all properties sold, to be paid by the buyer as part of the purchase price. Internet bidders are required to pay a 20% buyer's premium if they purchase items through Ebay Live Auction. In addition, buyers are required to pay any sales tax, which may be due, unless exempted by law. Payment may be made by cash(in house only), check, Visa, Master Card or American Express. PayPal is accepted for total amounts up to $5,000. Bidders on eBay Live must contact the gallery by June 7, 2008 at 5PM for bidding approval for amounts over $5,000. Purchases are subject to 6% PA sales tax. All items must be paid for and cleared within 10 days of the sale, at which point they will be released for shipment or delivery. 8. In the event of equal bids between the floor and eBay, the floor takes precedence. 9. All property is sold "As-Is". Gratz Gallery & Conservation Studio or its consignors make no warranties or representations of any kind with respect to any property offered for sale. Therefore the auctioneer makes no warranty of title, warranty of merchantability or fitness for a particular purpose, or any other warranty or representation of any kind or nature with respect to the property. In no event shall it be responsible for the correctness, nor deemed to have made any representation or warranty of description, genuineness, attribution, provenance, or condition of the property and no statement by anyone or in the catalogue, in any advertisement, or which is made at the sale, in the bill of sale or invoice, or elsewhere, shall be deemed such a warranty or representation or an assumption of liability. All bidders acknowledge their right to have made or requested full inspection of any and all properties prior to sale and agree to be charged with all matters such inspection may have disclosed or indicated. Inspection on the day of sale will be permitted only upon prearrangement with the company. Without in any way waiving the foregoing, any complaint regarding authenticity, genuineness, attribution, or provenance shall be made within twenty-five (25) days of the sale or such complaint shall be waived. If the problem concerns authorship, age, or originality you must return it within 10 business days. Limited Warrantee: Gratz Gallery & Conservation Studio may, but shall have no obligation to, consider any reasonable request for refund on the grounds of authenticity of authorship only and only under the following conditions: A. Notification must be made to Gratz Gallery in writing within 10 days of receipt of the item. B. The items must be returned within 10 days of the sale, accompanied by written testimony from a recognized authority that the lot in question is a forgery. C. The limited warrantee does not extend to the lots identified as attributions, school, circle, manner, or after. D. The limited warrantee is applicable only to the original Buyer. After the 10 day period, all items are considered to have been sold "as is, where is, without recourse." Bidding at this auction event indicates that you have read and accepted these conditions. 10. As a convenience to the Buyer, Gratz Gallery & Conservation Studio will make a referral for packing and shipping. This is at the request, expense, and risk of the Buyer, and Gratz Gallery & Conservation Studio assumes no responsibility for the items or the timing of delivery. Insurance for in transit items is the responsibility of the buyer. 11. The respective 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 Pennsylvania. 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 the state and Federal courts sitting in the state. BIDDING AT THIS AUCTION, WHETHER IN PERSON, BY AGENT, ORDER BID, TELEPHONE OR OTHER MEANS, CONSTITUTES YOUR ACKNOWLEDGEMENT AND ACCEPTANCE OF THESE "CONDITIONS OF SALE".

A 6% PA sales tax will be added to the sales total unless a tax exempt number is on file in our office by the day before the auction. For those who are shipping out of state, PA sales tax will not be applied.

All property is sold As-Is. Gratz Gallery Conservation Studio or its consignors make no warranties or representations of any kind with respect to any property offered for sale. Therefore the auctioneer makes no warranty of title, warranty of merchantability or fitness for a particular purpose, or any other warranty or representation of any kind or nature with respect to the property. In no event shall it be responsible for the correctness, nor deemed to have made any representation or warranty of description, genuineness, attribution, provenance, or condition of the property and no statement by anyone or in the catalogue, in any advertisement, or which is made at the sale, in the bill of sale or invoice, or elsewhere, shall be deemed such a warranty or representation or an assumption of liability. All bidders acknowledge their right to have made or requested full inspection of any and all properties prior to sale and agree to be charged with all matters such inspection may have disclosed or indicated. Inspection on the day of sale will be permitted only upon prearrangement with the company. Without in any way waiving the foregoing, any complaint regarding authenticity, genuineness, attribution, or provenance shall be made within twenty-five (25) days of the sale or such complaint shall be waived. If the problem concerns authorship, age, or originality you must return it within 10 business days. Limited Warrantee: Gratz Gallery Conservation Studio may, but shall have no obligation to, consider any reasonable request for refund on the grounds of authenticity of authorship only and only under the following conditions: A. Notification must be made to Gratz Gallery in writing within 10 days of receipt of the item. B. The items must be returned within 10 days of the sale, accompanied by written testimony from a recognized authority that the lot in question is a forgery. C. The limited warrantee does not extend to the lots identified as attributions, school, circle, manner, or after. D. The limited warrantee is applicable only to the original Buyer. After the 10 day period, all items are considered to have been sold as is, where is, without recourse. Bidding at this auction event indicates that you have read and accepted these conditions.