Terms And Conditions of Online Auction

Online Auction Terms & Conditions of Business The Lyman-Eyer Gallery conducts all sales in United States Dollar Currency. These Terms and Conditions of Business represent the terms upon which the Lyman-Eyer Gallery contracts with the Consignor and, acting in its capacity as agent on behalf of the Consignor, contracts with the Purchaser. These Terms and Conditions of Business shall apply to the sale of the Lot by the Lyman-Eyer Gallery to the Purchaser on behalf of the Consignor, and shall supersede and take precedence over any previously agreed Terms and Conditions of Business. These Terms and Conditions of Business are hereby incorporated and form part of the Consignment Agreement entered into by the Lyman-Eyer Gallery and the Consignor. A. Defined Terms: 1. Lot Any property delivered by the Consignor to the Lyman-Eyer Gallery to be placed in the auction sale held by the Lyman-Eyer Gallery on its premises or elsewhere and, specifically that property described by Lot number in the Lyman-Eyer Gallery's on-line catalogue for the auction sale. 2. Reserve The minimum price established between the Lyman-Eyer Gallery and the Consignor. The reserve will not exceed the low estimate as published in our on-line catalogue. 3. Knocked Down The conclusion of the sale of the Lot being auctioned by the Lyman-Eyer Gallery. 4. Hammer Price The price at which the Lyman-Eyer Gallery Knocked Down the Lot to the Purchaser. 5. Purchaser The person, corporation or other entity or such entity's Agent, who bids successfully on the Lot at the auction. 6. Purchase Price The Hammer Price plus any applicable sales tax and additional charges and expenses including any charges and expenses due from a defaulting Purchaser as set out in this Agreement. B. The Purchaser: 1. Lyman-Eyer Gallery Lyman-Eyer Gallery acts solely as agent for the Consignor, except as otherwise provided herein. 2. The Purchaser a.) The highest bidder acknowledged by the Lyman-Eyer Gallery as the highest bidder at the time the Lot is Knocked Down. b.) The Lyman-Eyer Gallery shall have the right to regulate and control the bidding and to advance the bids in whatever intervals we consider appropriate for the Lot in question. c.) The Lyman-Eyer Gallery shall have absolute discretion in settling any dispute in determining the successful bidder. d.) Every bidder shall be deemed to act as principal. e.) Every bidder shall submit a fully completed Registration Form and provide the required information to the Lyman-Eyer Gallery. Every bidder will be assigned a unique paddle number and password which can be used for current and future on-line sales. This registration procedure may require up to forty-eight (48) hours to complete. 3. Payment of the Purchase Price a.) The Purchaser shall: (i) Unless he/she has already done so, provide the Lyman-Eyer Gallery with his name, address and credit card information; and, (ii) The Purchase price will be charged to the Purchaser's credit card at the conclusion of the sale, unless otherwise arranged in advance with the Lyman-Eyer Gallery to pay by Bank Draft. All purchases are payable and due on the conclusion of the sale date. Total VISA, MasterCard and American Express charges must not exceed $15,000. b.) Subject to the provisions of this Agreement, the title to the property in a Lot shall not pass to the Purchaser until the Purchaser has paid the Purchase Price in full to the Lyman-Eyer Gallery. 4. Descriptions of Lot a.) All representation or statement made by the Lyman-Eyer Gallery, or in the Consignment Agreement, or in the on-line catalogue or other publication or report, as to the authorship, origin, date, age, size, medium, attribution, genuineness, provenance, condition or estimated selling price of the Lot, is a statement of opinion only. b.) All photographic representations and other illustrations presented in the on-line catalogue are solely for guidance and are not to be relied upon in terms of tone or color or necessarily to reveal any imperfections in the Lot. c.) Many Lots are of an age or nature which precludes their being in pristine condition and some descriptions in the on-line catalogue or given by way of condition report make reference to damage and/or restoration. Such information is given for guidance only and 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. d.) The Purchaser must satisfy himself as to the matters referred to in (a), (b), and (c) of this paragraph by inspection or otherwise prior to the sale of the Lot. If the prospective Purchaser is unable to personally view any Lot, the Lyman-Eyer Gallery upon request, will e-mail or fax a condition report. 5. Purchased Lot a.) Prior to any Lot being removed from the premises of the Lyman-Eyer Gallery or the Consignor, the Purchaser shall pay to the Lyman-Eyer Gallery the full purchase price. b.) The Purchaser shall collect the Lot from the Lyman-Eyer Gallery within seven (7) days from the date of the auction sale, after which date the Purchaser shall be responsible for all storage charges until the date the Lot is removed from the offices of the Lyman-Eyer Gallery. c.) All packing and handling of the purchased Lot by the Lyman-Eyer Gallery staff or Consignor is undertaken solely as a service to the Purchaser, and will only be undertaken at the Lyman-Eyer Gallery's discretion and at the Purchaser's risk. d.) The Lyman-Eyer Gallery shall not be liable for any damage to glass or frames of the Lot and shall not be liable for any errors or omissions or damage caused by packers and shippers, notwithstanding that the Lyman-Eyer Gallery may have recommended such shippers or packers to the Purchaser. 6. Risk a.) The purchased Lot shall be at the Purchaser's risk in all respects from the time of collection or on expiration of seven days from the date of sale, whichever is earlier. b.) Neither the Lyman-Eyer Gallery nor its employees nor its agents shall be liable for any loss or damage of any kind to the Property after the expiration of the seven days from the date of sale, whether caused by negligence or otherwise, while any Lot is in or under the respective custody or control of the Lyman-Eyer Gallery. 7. Nonpayment and Failure to Collect Lot(s) If the Purchaser fails, either to pay for or to take away any Lot within seven (7) days from the date of the auction sale, the Lyman-Eyer Gallery may in its absolute discretion be entitled to one or more of the following remedies without providing further notice to the Purchaser and without prejudice to any other rights or remedies the Lyman-Eyer Gallery may have. a.) To issue judicial proceedings against the Purchaser for damages for breach of contract together with the costs of such proceedings on a full indemnity basis. b.) To rescind the sale of that or any other Lots sold to the Purchaser. c.) To resell the Lot or cause it to be resold by public or private sale, with any such deficiency to be claimed from the Purchaser and any surplus, after Expenses, to be delivered to the Purchaser. d.) To store the Lot on the premises of the Lyman-Eyer Gallery or elsewhere, and to release the Lot to the Purchaser only after payment of the full Purchase Price and associated cost to the Lyman-Eyer Gallery. e.) To charge interest on the Purchase Price at the rate of 5% above the United States Prime Rate at the time of the auction sale and adjusted month to month thereafter. f.) To retain that or any other Lot sold to the Purchaser at the same or any other auction and release the same only after payment of the Purchase Price. g.) To apply any payments by the Purchaser to the Lyman-Eyer Gallery towards any sums owing from the Purchaser to the Lyman-Eyer Gallery without regard to any directions of the Purchaser or his agent, whether express or implied. 8. Guarantee The Consignor, the Lyman-Eyer Gallery, its employees and agents, although every effort has been made for accuracy, shall not be responsible for the correctness of any statement as to the authorship, origin, date, age, size, medium, attribution, genuineness or provenance of any Lot or for any other errors of description or for any faults or defects in any Lot and no warranty whatsoever is given by the Consignor, the Lyman-Eyer Gallery, its employees or agents in respect of any Lot and any express or implied conditions or warranties are hereby excluded.