Archives InternationalAuctions,PartXIX
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May20, 2014
Archives InternationalAuctions
CONDITIONSOFSALE
THEPLACINGOFABIDSHALLCONSTITUTEACCEPTANCEOFTHESECONDITIONSOFSALE
BIDDING
1.
Unless announced otherwise by the auctioneer, all bids are per lot,
as numbered in the printed Catalogue. Archives International Auc-
tions, as agent for the consignor or vendor, shall regulate the bid-
ding and shall determine the manner in which the bidding shall be
conducted. Archives International Auctions reserves the right to
withdraw any lot prior to sale (without liability to any potential pur-
chaser or agent), to re-offer any withdrawn lot, to divide a lot or to
group two or more lots belonging to the same consignor or vendor,
and to refuse any bid believed not made in good faith. Estimates of
sales prices contained in the printed Catalogue reflect the best
judgment of Archives International Auctions and are not minimum
or upset prices.
2.
(a) Bids shall bemade in the steps set forth in paragraph12.
(b) The highest bid acknowledged by the auctioneer shall prevail.
Should a dispute arise between bidders (including a dispute be
tween a floor bidder and the auctioneer acting on behalf of a
mail bidder, consignor or vendor), theauctioneer alone shall de-
terminewho the successful bidder is andwhether to reoffer the
lot in dispute. Should a dispute arise after the sale, the auction
eer’s sale records shall be conclusive. On all lots sold, a com-
mission of 18% on the hammer price is payable by the buyer to
the auctioneer.
3.
(a) The auctioneer reserves the right to bid on behalf of clients
(and consignors or vendors) but shall not be liable for errors
and omissions in executing instructions to bid, however re-
ceived, and whether such errors or omissions be those of the
bidder or agent or thoseof the auctioneer.
(b) Lots may be offered subject to a reserve price. The auctioneer
may implement such reserve price by bidding on behalf of the
consignor vendor.
(c) It may also be assumed that all consignors have been advan-
ced monies against the sale of their consigned material and
Archives International Auctions therefore has a security interest
in the consigned material over and above the normal auction
commission.
(d) Purchases made by a consignor or vendor or his agent on his
own lots shall be considered as a sale subject to commissions
and sales tax as applicable.
(e) Agents are responsible for the payment of the purchase price
for all purchases made on behalf of their clients, unless other
arrangements with the auctioneer have been confirmed in writ-
ing prior to theauction.
PAYMENTFORPURCHASES
4.
Payment for lots, including thoseonwhichopinionsaredesired (Con
ditionof Sale8), shall be as follows:
(a) Floor Bidders. Payment of the purchase price, or such part
there of as Archives International Auctions shall require, shall
bemade by the purchaser in cash or bank or certified check or
in such other manner as Archives International Auctions may
determine. The name and address of the purchaser of each lot
shall be given to the auctioneer immediately following the sale
of such lot.
(b) Mail Bidders. A successful mail bidder will be notified of lots
purchased. Before Archives International Auctions will send
such lots, payment in full must be receivedbyArchives Interna-
tional Auctions within three (3) business days of receipt of the
aforesaid notification by themail bidder. However, a purchaser
known toArchives International Auctions at its optionmay have
purchases delivered or forwarded for immediate payment (by a
dollar draft on aU.S. bank in the case of overseas purchasers).
Mailed delivery will be to the address on the bid sheet and
proof byArchives International Auctions of receipt of a sending
at the advised address shall constitute delivery. All charges for
handling, delivery and insurance obtained by Archives Interna-
tional Auctions on behalf of the purchaser shall be added to the
purchase price; aminimum chargeof $10.00will bemade. Risk
of loss in transit shall be on the purchaser.
5.
Title shall not pass to the purchaser until full payment has been re-
ceived byArchives International Auctions as agents for the consign-
or or vendor.
6.
(a) Purchasers agree to pay for lots as specified in Condition of
Sale4 (or as the samemaybemodifiedbyConditionof Sale8),
and no credit is extended; a latepayment charge of 2% per
month or fraction thereof shall be added if payment is not made
inaccordancewith the aforesaid conditions.
(b) In the event that a bidder shall fail to comply with these Condi-
tions of Sale (“Non-Complying Bidder”), then, as to any lot with
respect towhichsuch failure tocomplyoccurs,Archives Interna-
tionalAuctionsmay, in its solediscretion, re-offer such lot during
the same auction or at an auction at a later time, or by private
treaty at such time asArchives International Auctions, in its sole
discretion, deems appropriate and the Non-Complying Bidder
shall be liable for the deficiency, if any, between the hammer
priceand thenet proceeds of a sale toa subsequent purchaser,
whether at auction or by private treaty, as well as for all costs
and expenses of both sales, all other charges due thereunder,
including commissions with respect to both sales, whether
payable toArchives InternationalAuctionsor toa thirdpartyand
all incidental damages. It shall be inArchives International Auc-
tions’ sole discretion to determine whether to re-offer the lot
theretofore hammered-down to a Non-Complying Bidder at the
same auction, or by private treaty in due course, or at a subse-
quent auction conducted by Archives International Auctions. In
no event shall any surplus arising from the sale of a re-offered
lot be payable to aNon-ComplyingBidder.
(c) Adefaultingpurchaser shall bedeemed tohavegrantedArchives
International Auctions a security interest in property inArchives
International Auctions possession owned by such purchaser.
Archives International Auctions shall have all of the rights af-
forded a purchasemoney secured party under theNewYork or
NewJerseyUniformCommercialCodewith respect tosuchprop-
erty andmay apply against such obligations all monies held or
received by it for the account of, or due fromArchives Interna-
tional Auctions to such purchaser. Archives International Auc-
tions is authorized to file a FinancingStatement in order to per-
fect its rights as a secured party.
(d) IfArchives InternationalAuctions takesany legal steps tosecure
payment of a delinquent account, the defaulting purchaser shall
be liable for all legal andother expenses incurredbyArchives In-
ternational Auctions to secure such payment, including but not
limited to a reasonable allowance for attorneys’ fees. For pur-
posesof thisparagraph, the term legal stepsshall bedeemed to
include any and all consultation by Archives International Auc-
tionswith its attorneyswith respect toall mattersarisingout of a
delinquent account.
(e) Unless otherwise acceptable toArchives International Auctions,
payment is to bemade only in the form of cash, bank check or
certified check, credit card (Visa or MasterCard only) or a bank
wire transfer.
EXHIBITIONAND INSPECTIONOFLOTS;QUALITYANDAUTHENTICITY
7.
(a) On Premises Inspection only. Ample opportunity is given for on
premises inspection prior to the auction date, and, uponwritten
request andatArchives International Auctions discretion.
(b) Each lot is sold as genuine and correctly described, based on
individual descriptionasmodifiedbyanyspecificnotations in this
Catalogue.
(c) Quality.Any lotwhichapurchaser considers tobe incorrectlyde-
scribedmaybe returned toArchives InternationalAuctionswithin
two weeks of its receipt by such purchaser (“Returning Pur-
chaser”), provided, however, that the same is received by
Archives International Auctions within four weeks of the date of
the auction; however,Archives International Auctionsmay, in its
discretion, refuse acceptance of such returned lot. If an opinion
of agenerally recognized authority is desired, theperiod of time
withinwhicha lotmust be receivedbyArchives InternationalAuc-
tionswill beextended inaccordancewithConditionof Sale8. In
the event that a dispute cannot be resolved by reference to a
generally recognized authority, andArchives International Auc-
tions thereupon undertakes to re-offer the lot with a description
identical to thedescription disputed, the Returning Purchaser
shall be liable for thedeficiency, if any, between theproceeds of
the sale to theReturning Purchaser and the proceeds of a sale
toasubsequent purchaser, aswell as for all costsandexpenses
of the re-sale, includingcommission, andall incidental damages.
Any lot, thedescriptionofwhich isdisputed,must be returned in-
