Conditions of Sale for Auction
The following constitutes the entire terms and conditions on which property listed in the catalogue shall be offered for sale or sold by Nate D. Sanders, Inc. and any consignor of such property for whom we act as agent.
- Bid Price. As used herein the term "bid price" means the price at which a lot is knocked down to the purchaser and the term "purchase price" means the aggregate of (a) the bid price, (b) a buyer's premium payable by the purchaser of twenty-five percent (25%) on the first $200,000, plus twenty percent (20%) of any amount between $200,000 and $2,000,000, plus twelve percent (12%) of any amount over $2,000,000 per lot of the bid price and (c) any applicable sales tax.
- Purchases. This is an online, mail, phone, email and fax bid auction. As of closing time printed below, the highest bidder shall be deemed to have purchased the offered lot in accordance with all of the conditions set forth herein and thereupon (a) assumes full risk and responsibility therefore (b) if requested will sign a confirmation of purchase, and (c) will pay the purchase price in full or such part as we may require for all lots purchased. No lot may be transferred. All property shall be shipped at the purchaser’s expense. Each sale made pursuant to these Conditions of Sale will be deemed to constitute a grant of a security interest by the purchaser to us in, and we may retain as collateral security for the purchaser’s obligations to us, any of the purchaser’s property in our possession, and we may apply against such obligations all monies held or received by us for the account of, or owing to, the purchaser. Whenever the purchaser pays only a part of the total purchase price for one or more lots purchased, we may apply such payments, in our sole discretion, to the lots we choose. Payment will not be deemed made in full until we have collected all amounts due in cash or good funds represented by cleared checks, cashier checks or bank wires. If the foregoing conditions or any other applicable conditions herein are not complied with, in addition to other remedies available to us and the consignor by law, including but without limitations, the right to hold the purchaser liable for the purchase price, we at our option may either (a) cancel the sale, retaining as liquidated damages all payments made by purchaser or (b) resell the property, either publicly or privately, and in such event the purchaser shall be liable for the payment of any deficiency plus all costs and expenses of both sales, our commission at our standard rates, all other charges due hereunder, attorney’s fees and incidental damages.
- Sold As-Is. All autograph signatures, letters, documents and signed photos are sold "as is". All statements contained in the auction or in any bill of sale, invoice or elsewhere as to period, culture, source, origin, measurements, quality, rarity, provenance, importance, exhibition and literature of historical relevance or physical condition are qualified statements of opinion and not representations or warranties. The Purchaser hereby accepts the benefit of the consignor’s warranty of title and other representations and warranties made by the consignor for the purchaser’s benefit. The Purchaser expressly acknowledges and agrees that in no event shall we be liable for any damage including, without limitation, any compensatory, incidental or consequential damages. In the event the item auctioned is an intangible item including but not limited to dinner with a celebrity, etc., Purchaser acknowledges that they may have to submit to security requirements and screening procedures that such person should employ. Purchaser bears the risk of not meeting security requirements and screening procedures.
- Right to Withdrawal Property. We reserve the right to withdraw any property at any time before the actual sale. We reserve the right to reject a bid from any bidder. The highest bidder acknowledged by us shall be the purchaser. In the event of any dispute between bidders, or in the event we doubt the validity of any bid, we shall have sole and final discretion either to determine the successful bidder or to re-offer and resell the article. If any dispute arises after the sale, our sales records shall be conclusive in all respects. If we are prevented by fire, theft or any other reason whatsoever from delivering any property to the purchaser, our liability shall be limited to the sum actually paid therefore by the purchaser and shall in no event include any incidental or consequential damages.
- Subject to Reserve. If a lot is offered subject to a reserve (the confidential minimum price below which the lot will not be sold), we may implement such reserve by bidding on behalf of the consignor, whether by opening bidding or continuing bidding in response to other bidders until reaching the reserve. NDS may own some or many of the lots in this sale.
- Descriptions and Defects. We have tried to accurately describe every item in this auction. Condition description ranges are: poor, fair, good, very good and fine, poor being the lowest level and fine being the best condition. Substantial defects are noted, minor defects may not be mentioned. If any substantial defect not described in the auction is discovered by the purchaser, the lot must be returned within two days. This is not an approval sale. Any return for any reason other than authenticity issues will not be accepted.
- Payments. All items are to be paid for by (a) cash, (b) bank wire, (c) cashier check or (d) personal check made to "Nate D. Sanders, Inc." All sales are final. No bid can be withdrawn at any time. All payment must be in U.S. dollars. Full payment is due within 14 days of the ending auction date unless an exception is made in writing. Late payments have a 1.0% fee per month added to them.
- Choice of Law and Arbitration. These Conditions of Sale and the purchaser’s and our respective rights and obligations hereunder are governed by California law. By bidding at an auction, whether by web, fax, mail, telephone or other means, the buyer or bidder agrees to be bound by these Conditions of Sale. Any dispute, controversy or claim arising out of or relating to the Agreement or the breach, termination or validity thereof, brought by or against NDS (but not including claims brought against the consignor by the purchaser of lots consigned hereunder) shall be resolved by Arbitration in Los Angeles, California under the AAA consumer rules of Arbitration. The Arbitrator shall be empowered to order specific performance and to award consequential damages and pre-award interest, but shall not be empowered to award punitive damages. The arbitration shall be governed by the U.S. Arbitration Act, 9 U.S.C. 1-16, and judgment upon the award rendered by the Arbitrator may be entered by any court having jurisdiction thereof. Each party shall bear its own attorney’s fees and expenses in connection with such proceedings and shall bear one-half of the Arbitrator’s fees and expenses.
- Successors and Assignees. These Conditions of Sale shall bind the successor and assignees of all bidders and purchasers and inure to the benefit of our successors and assignees. No waiver, amendment or modification of the terms hereof shall bind us unless specifically stated in a writing signed by us. If any part of these Conditions of Sale is for any reason invalid or unenforceable, the rest shall remain valid and enforceable.
- Advanced Bids. We accept bids in advance of sale by web, telephone, email, fax or mail. "Buy" bids will not be accepted; all bids must state the highest bid price the bidder is willing to pay. As noted above, a premium payable by the purchaser will be added to the bid price. In the event identical bids are submitted, the earliest will take precedence. We assume no responsibility for failure to execute these bids for any reason whatsoever.
- Estimated Prices. As a convenience to our clients, we furnish pre-sale estimates for all lots included in the auction. These are intended as an approximate guide to our opinion of current market value, and should not be interpreted as a price. The final bid price may well be less than or more than any estimate printed.
- Intellectual Property. Unless otherwise indicated, the purchase of any lot does not give the buyer any copyright ownership.
- Shipment. Shipment is via Fedex or the USPS unless otherwise instructed. Shipping charges are added to all invoices. Items are shipped after receipt of payment.
- Entire Agreement and Severability. These Conditions constitute the entire agreement between the parties together with any exhibits, schedules and addenda incorporated by reference herein. They may not be amended, modified or superseded except in a signed writing executed by all parties. These terms and conditions shall be binding and enforceable on the signatory parties and all heirs, successors, assigns, beneficiaries, executors, and principals (where executed by an agent on behalf of said principal). If any of these terms and conditions are for any reason deemed invalid or enforceable, the remaining portions shall remain fully enforceable without regard to the invalid or unenforceable provisions.
The Placing of a bid shall constitute acceptance of the preceding terms and conditions.