CONTEMPORARY & ANTIQUE ART & DESIGN AUCTION

Collinsville Auction Company Terms and Conditions of Sale 1. You must register in order to bid at any Collinsville Auction Company, LLC auction; however there is no fee to register. You must be at least 18 years old to register. You must register at least 24 hours prior to the auction or you will be required to register at the Auction event. Prospective purchasers who register on Auction day will be required to complete the Bidder Registration Form at that time. We highly recommend that you register well in advance of Auction day to enhance your chances of being notified of any pertinent changes that may take place prior to Auction day. Notwithstanding the foregoing, Collinsville Auction Company, LLC disclaims any obligation to notify you of any such changes or to provide you with any information, and therefore strongly recommends that you check the website regularly to obtain such information with respects to all properties that you are interested in purchasing. By bidding at a Collinsville Auction Company, LLC Auction, whether in person, by phone, absentee bid, or over the internet, you agree to be bound by the following terms and conditions. The Auction will be conducted by offering the items by lot, either individually or in groups. The bidder offering the highest bid accepted by the Auctioneer shall be the purchaser of the offered lot, and no purchaser shall retract his/her bid. Purchaser accepts a lot when he/she makes a bid. As used in the following terms and conditions, “CAC,” “We,” “Us,” and “Auctioneer” refers to “Collinsville Auction Company, LLC.” 2. A 15% buyerʼs premium is added to the successful hammer price of every lot sold through the CAC live auction, which the purchaser of the lot agrees to pay along with all applicable taxes as part of the total purchase price. All lots purchased online through www.ebayliveauctions.com are subject to a 20% buyerʼs premium, as specified in the online version of the auction catalog as it appears on eBay/Live Auctioneers. CAC has the right to retain merchandise if paid for by personal check until the check has cleared. 3. Connecticut state sales tax of 6% will be added to all sales unless the purchaser provides CAC with a valid resale certificate exempting them from payment of the tax at the time of the sale, or if the purchaser is from outside the state of Connecticut and has the purchase shipped to a location outside of the state. 4. Items offered for sale by Collinsville Auction Company, LLC are offered either as the agent for consignors or by CAC as owners. Therefore the contract for sale of the items is made between the consignor of the property and the buyer. In cases where we own the property, the contract for sale is made between CAC and the buyer. 5. CAC is not acting as an agent for any bidder in any capacity. 6. It is strongly suggested that bidders personally examine each lot on which they will be bidding, in order to determine overall size, condition, restoration or repair. Bidders are encouraged to make their own physical inspection and rely solely on that inspection before bidding. The Auction Catalog has been prepared as a guide, and should be used as a guide only. Although descriptions are believed to be correct, its accuracy cannot be guaranteed or warranted. The bidder acknowledges that all auction items are available for inspection prior to the auction and it is the bidderʼs responsibility to have inspected the item before bidding. No sale shall be invalidated; nor shall CAC be liable as a result of defects or inaccuracies of any lot. Failure to inspect does not negate a Bidderʼs responsibility to perform such inspection under the auction terms and conditions. All items for sale in the auction are sold “as-is, where-is, and with all faults”. Collinsville Auction Company, LLC. disclaims any expressed or implied warranties or guarantees, statutory or otherwise of any nature whatsoever, as to the authenticity, condition, correctness of the catalog or supplemental material, fitness for any use or particular purpose, or other description of the physical condition, size, weight, medium, kind, character, quality, importance, rarity, provenance, exhibitions, literature or historical relevance of any property. No claim will be considered for allowance or adjustment or for rescission of the sale based on failure of the property to correspond with the standard expected; this is not a sale by sample. No statement made anywhere, by CAC, our officers, employees, or agents, whether written or verbal, shall be deemed a warranty or assumption of liability. Estimates of the selling price should not be relied upon as a statement of a lotʼs selling price or the itemʼs value for any other purpose. Photographic images of items offered for auction, whether provided in print (including advertisements) or online, as well as visual/ written references in the catalogue entry or condition report as to damage or restoration are for guidance only and are provided as a convenience to prospective bidders. The absence of any reference in a condition report or photograph does not imply that an item is free from defect or restoration, nor does a reference to particular defects imply the absence of any other defects. Neither CAC nor its consignors are responsible in any way for errors and omissions in the catalogue, condition reports, or any other supplemental material. All sales are considered final with the following exception: CAC will agree to a refund of the purchase price if within twenty (20) days of purchase, the purchaser obtains and sends to CAC a written letter from a mutually recognized expert or authority on the artist stating unequivocally that the work is a forgery or not by the represented artist. The purchase date is the date of the auction. The choice of expert or authority must be mutually agreeable to CAC and the purchaser. This exception will only apply to a work signed by the artist and not to an attribution, manner of, school of, circle of or follower of a particular artist. The letter must be signed, and on letterhead of the recognized expert or authority. This will also only apply if the disputed article is in the same condition as when sold for the request to be considered. Exception to this rule must be specifically approved by CAC. 7. A prospective buyer must complete and sign a registration form before bidding. CAC reserves the right to require bank or other financial references for participation in the auction or bidding on a specific lot. By registering as a Bidder and bidding at the Auction, each Bidder shall be deemed to represent, warrant and agree with respect to each lot it bids upon that (a) such Bidder has inspected the lot and is familiar and satisfied with the physical condition thereof and has conducted such investigation of the lot as the Bidder has determined appropriate, (b) neither CAC nor Seller, nor any affiliate, agent, officer, employee or representative of either of them, has made any verbal or written representation, warranty, promise or guarantee whatsoever to the Bidder, expressed or implied, and in particular, that no such representations, warranties, guarantees, or promises have been made with respect to the physical condition, operation, or any other matter or thing affecting or related to the lot, (c) Bidder has not relied upon any representation, warranty, guarantee or promise or upon any statement made or any information provided concerning the lot, including but not limited to information made available on-line at the Auction website, in Auction Advertising, in the Auction brochure, or in the Auction Catalog provided or made available by CAC or by Seller, or their respective agents, employees, or representatives, (d) Bidder has made its bid after having relied solely on its own independent investigation, inspection, analysis, appraisal and evaluation of the lot bid upon and the facts and circumstances related thereto, (e) Bidder shall not misrepresent its ability to close the transaction pursuant to the terms and conditions of the sale, (f) Bidder has the capacity to close the transaction, and (g) Bidder has actual authority to enter a bid and to enter into an agreement to purchase the lot bid upon. CAC has the right at our complete discretion to refuse any individual bidderʼs participation in any auction. When making a bid, a bidder is accepting personal liability to pay the purchase price, including the buyerʼs premium and all applicable taxes, plus all other applicable charges, unless it has been explicitly agreed in writing with Collinsville Auction Company, LLC before the commencement of the sale that the bidder is acting as agent on behalf of an identified third party acceptable to us, and then we will only look to the principal for payment. CAC encourages online bidding for those who absolutely cannot attend in person, but is in no way responsible for technical issues which could impede your ability to bid on any lots. CAC does not warrant that the website or its webcast services, including without limitation any thirdparty software, products or other material used in connection with the website or eBay/Live Auctioneers, will be timely, secure, uninterrupted or error free, or that defects will be corrected. Attending in person is the best way to participate in an auction. 8. We reserve the right to withdraw any property before or during the sale and shall have no liability whatsoever for such withdrawal. 9. Unless otherwise announced by the auctioneer, all bids are per lot as numbered in the catalogue. 10. Collinsville Auction Company, LLC, and its auctioneer have the right at our absolute and sole discretion to refuse any bid, to advance the bidding in such a manner as we may decide, to withdraw or divide any lot, to combine any two or more lots and, in the case of error or dispute, and whether during or after the sale, to determine the successful bidder, to continue the bidding, to cancel the sale or to re-offer and resell the item in dispute. We reserve the right to reject any bid. Subject to our discretion, the highest bidder accepted by the auctioneer will be the buyer and the striking of his hammer marks the acceptance of the highest bid and conclusion of a contract for sale between the seller and buyer. Any dispute arising as to any bidding shall be settled by our Auctioneer at his sole discretion. No person shall bid on any lot of which he/she is the Consigner, agent, associate, or on behalf of the Consignor. 11. Some lots in the sale are subject to a reserve, which is the confidential minimum price below which such lot will not be sold. Reserves are agreed upon with consignors or, the absence thereof, in the absolute discretion of CAC. We may implement reserves by opening the bidding on behalf of the consignor and may bid up to the amount of the reserve, by placing successive or consecutive bids for a lot, or bids in response to other bidders. In instances where we have an interest in the lot other than our commission, we may bid up to the reserve to protect such interest. In certain instances, the consignor may pay us less than the standard commission rate where a lot is “bought-in” to protect its reserve. If the auctioneer decides that any opening bid is below the reserve of the article offered, he may reject the same and withdraw the article. 12. All merchandise purchased must be paid for and removed within seven days of the sale. We shall be entitled to retain items sold until all amounts due to us have been received in full in good cleared funds or until the buyer has satisfied such other terms as we, in our sole discretion, shall require. If payment in full in good, cleared funds is not received within seven calendar days following the auction, we shall be entitled in our absolute discretion to exercise one or more of the following rights or remedies (in addition to asserting any other rights or remedies available to us by law): (a) hold the defaulting buyer liable for the total amount due and to begin legal proceedings for its recovery together with interest, legal fees, and costs to the fullest extent permitted under applicable law (b) cancel the sale (c) to resell the property publicly or privately on such terms as we find appropriate (d) resell the property at public auction without reserve (e) to charge interest at such rate as we shall reasonably decide (f) to pay the seller an amount up to the net proceeds payable in respect of the amount bid by the defaulting purchaser (g) to set off any amounts which we may owe the buyer in other transactions, the outstanding amount remaining unpaid by the buyer (h) where several amounts are owed by the buyer to us, in respect of different transactions, to apply any amount paid to discharge any amount owed in respect of any particular transaction, whether or not the buyer so directs (i) to reject at any future auction any bids made by or on behalf of the buyer or to obtain a deposit from the buyer before accepting any bids (j) to exercise all the rights and remedies of a person holding security over any property in our possession owned by the buyer, whether by way of pledge, security interest or in any other way, to the fullest extent permitted by the law of the place where such property is located. The buyer will be deemed to have granted such security to us and we may retain such property as collateral security for such buyerʼs obligations to us (k) to take such other action as we deem necessary or appropriate. In the case of (c) or (d) above, the original purchaser will be liable for any deficiency between the total amount originally due to us and the price obtained upon resale as well as for all costs, expenses, damages, legal fees, and commissions and premiums of whatever kind associated with both sales or otherwise arising from the default. If we pay any amount to the seller under (f) above, the buyer acknowledges that we shall have all the rights of the seller, however arising, to pursue the buyer for such amount. At our option, payment will not be deemed to have been made in full until we have collected funds represented by checks, or in the case of bank or cashier's checks, we have confirmed their authenticity. In any event, buyer shall be responsible for all attorneys' fees and costs in connection with any claim under these Terms and Conditions. In addition, if the successful Bidder fails to make a full and final payment as herein provided, CAC reserves the right to place the Bidder in Default, place the Bidderʼs name on the default list and bar the Bidder from future bidding opportunities for the period of two (2) years. The original Purchaser will in no way be released from full compliance with the terms and conditions of the sale by his resale of the property. 13. All items must be removed from the auction facility within 7 days after the auction date. If for any reason the purchaser fails to remove any purchase within the time specified, the purchase may be deemed abandoned, and CAC at its sole discretion may resell the items. Purchaser shall be liable for any rent incurred or damages suffered by CAC because of purchaserʼs failure to remove any item. CAC reserves the right to charge a monthly fee of one percent (1%) per month of the amount of the purchase price, with a minimum charge of five percent (5%), to handle any lot not removed after seven days. If property is not picked up within sixty days, we reserve the right to send the purchased property to a third-party warehouse for the account, and expense of the bidder, and only release the items after payment in full has been made of removal, storage, handling, insurance and any other costs incurred, together with payment of all other amounts due to us. 14. Purchaser is responsible for insuring his/her purchases immediately. CAC shall not be responsible for loss, damage, or theft of any purchase. Purchaser shall not be entitled to remove any item from the auction facility until all purchases are paid for in full, including but not limited to, all applicable goods, sales or use taxes. Removal of all items shall be the sole responsibility of the purchaser. Loading assistance is provided as a courtesy; however, purchaser assumes all risk and responsibility for loading and removal of purchases. Purchaser agrees to indemnify and hold harmless both consignor and CAC, its officers, employees, agents and attorneys against any damage caused by acts of the purchaser. The purchaser agrees that packaging, shipping and handling is the absolute risk of the purchaser. The purchaser must make all arrangements necessary for packing, removal, and transportation of property. CAC is under no obligation to act as a liaison in any fashion between the Purchaser and shipper. Any such act by CAC is to be considered a courtesy and in no fashion is CAC to be held liable under any circumstances for any claims arising from such courtesy. The purchaser will pay all costs including, but not limited to, the handling and insurance associated with shipping. CAC will be held harmless from any claim and any rights of subrogation from an insurance carrier are waived against CAC. We are not responsible for the acts or omissions of third parties whom we might retain for the purposes of handling, packing and shipping. Similarly, where we may suggest handlers, packers or carriers, we do not accept responsibility for their acts or omissions. 15. Immediately following the sale, the buyer must provide us with his or her name and permanent address and, if so requested, details of the bank from which payment will be made. The buyer must pay the full amount due (comprising the hammer price, buyerʼs premium and any applicable taxes) not later than the seventh calendar day following the sale. This applies even if the buyer wishes to export the lot and an export license is, or may be, required. The buyer will not acquire title to the lot until all amounts due to us from the buyer have been received by us in good cleared funds, even in circumstances where we have released the lot to the buyer. We are under no obligation to assist in applying for an export license, but if the buyer requests us to apply for an export license on his or her behalf, we shall be entitled to make a charge for this service. We shall not be obliged to rescind a sale nor to refund any interest or other expenses incurred by the buyer where payment is made by the buyer in circumstances where an export license is required. 16. We will use reasonable efforts to carry out written bids delivered to us prior to the sale for the convenience of clients who are not present at the auction in person, by an agent or by telephone. If we receive written bids on a particular lot for identical amounts, and at the auction these are the highest bids on the lot, it will be sold to the person whose written bid was received and accepted first. Execution of written bids is a free service undertaken subject to other commitments at the time of the sale and we do not accept liability for failing to execute a written bid or for errors and omissions in connection with it. With regards to telephone bids, if a prospective buyer makes arrangements with us prior to the sale we will use reasonable efforts to contact them to enable them to participate in the bidding by telephone but we do not accept liability for failure to do so or for errors and omissions in connection with telephone bidding. We are also not liable for any failure or execution to take bids submitted to us via third party internet sites such as eBay/Live Auctioneers, nor are we liable for any technical difficulties involved in receiving those bids. 17. In no event will our liability to a purchaser exceed the purchase price actually paid. 18. We reserve the right to retain, publicize, and publish any photographs and descriptions of property we offer both prior to the auction and afterwards. We reserve the right to publicize and provide the results of any sale, including images, on our own website as well as to any third party we choose, including online auction-result databases. No representation or warranty is made as to copyright of any property or whether the buyer acquires any reproduction rights of the property. 19. If any part of these terms and conditions of sale is found by any court to be invalid, illegal or unenforceable, that part shall be discounted and the rest of the conditions shall continue to be valid to the fullest extent permitted by law. The rights and obligations of the parties with respect to these conditions of sale, the conduct of the auction and any matters connected with the foregoing shall be governed and interpreted by the laws of the jurisdiction in which the auction is held. By bidding at auction, whether present in person or by agent, by written bid, telephone or other means, the buyer shall be deemed to have submitted, for our benefit, to the exclusive jurisdiction of the courts of the state, county, province and if applicable federal courts sitting in such state. 20. CAC reserves the right to waive or modify the terms and conditions of sale by written agreement.

Local Taxes Apply unless a valid resale certificate is provided.