Buyer's Premium
The Buyer shall pay a Buyer's Premium (BP) per lot which shall be
retained by MA as follows:
Twenty-six percent (26%) of the rst $250,000 of the bid price, twenty-
one percent (21%) of the amount of the bid price above $250,000.00
up to and including $1,000,000.00 and eighteen percent (18%) of the
amount of the bid price over $1,000,000.00 if bidding in person, by
physical absentee form or by telephone.
All Internet platforms BP is thirty percent (30%) of the rst $250,000 of
the bid price, twenty-six percent (26%) of the amount of the bid price
above $250,000.00
Terms of Sale
a. The Purchase of and Payment for Property
The sale of a lot shall be to the highest bidder as determined by the
auctioneer, in accord with these Conditions of Sale. Title to the lot shall
pass with the fall of the Auctioneer's hammer. Buyer shall pay the
Purchase price, as dened above, and such other fees as may be due,
in full, within seven (7) days of the auction sale. Sale is not nal and
property will not be released to Buyer until good funds for all amounts
due, are received by MA. Payment may be made (i) in cash, (ii) by wire
transfer, (a $25 fee) (iii) by money order or other guaranteed funds, or
(iv) by personal check (when buyer's credit is approved). No lot shall
be transferred by Buyer to another person until the sale is nal. In the
event of partial payment for any lot or lots we shall apply payments, in
our discretion, to the lot or lots we select. The Buyer grants MA a secu-
rity interest in the purchased Property, and we may retain as collateral
any property purchased and any funds in our possession, to secure a
Buyer's obligations to us, if any. We retain the rights of a secured party
under the California Commercial Code. All fees, taxes, premiums or
other sums due and not paid pursuant to this paragraph shall bear
interest at 1.5 % per month from the 8th day following the sale to the
date paid in full.
b. Collection of Property
Upon transfer of title, Buyer assumes full responsibility, including risk
of loss and damage, for the Property. Purchased property shall be re-
moved at Buyer's expense within seven business days (7) days after the
sale becomes nal. Property not removed shall be subject to a service
fee of $50, and a storage fee, if retained by MA, of 1% of the purchase
price per month. MA may also, in its sole discretion, elect to place the
Property in a public storage facility at the Buyer's sole risk, responsibil-
ity and expense.
c. Liability for delivery of property.
If, however, for any reason whatsoever, we are unable to deliver the
purchased Property to the Buyer, MA shall be liable to the Buyer only
for the Purchase price paid by the Buyer and in no event shall we be li-
able for incidental or consequential damages, including, but not limited
to, business interruption or loss of prot.
The Auction Procedure
a. Registration
Bidders must register in advance to bid at auction. (a) If by Internet
please complete online form and submit online or absentee bid forms
can be completed and turn into the front desk. (b) To telephone bid,
bidders must complete the online form or telephone bid form located
at the front desk. Telephone lines are limited, and available on a rst-
come, rst-serve basis. (c) When intending to bid in person, pre-register
at the front desk and obtain a bidder paddle. The auctioneer may
refuse to recognize any person not registered and not having a paddle
number. MA reserves the right at its sole discretion, to refuse anyone
the right to register and participate at an auction.
b. Announcements
We may, at the commencement of, or during the Auction, announce
changes in or modications to the Conditions of Sale or descriptions of
Property.
c. Absentee Bids
For a Buyer's convenience, absentee bids will be accepted, when prop-
erly executed and submitted in a timely manner. However, we neither
accept any responsibility to an absentee bidder, nor any liability what-
soever for a failure to execute the absentee bid for any reason. In the
event that identical multiple absentee bids are the highest bids received
for the same lot then the earliest received of the competing absentee
bids shall prevail at that bid amount.
d. Auctioneer's Discretion
The Auctioneer has the absolute discretion to 1) pass a lot or withdraw
it from sale at any time prior to its actual sale; 2) refuse to recognize any
bidder; 3) refuse to recognize any bid; 4) resolve any dispute between
bidders or resolve any doubtful bid by deciding who is the successful
bidder or nullifying the auction of the lot and reoering it for sale. The
Auctioneer's decision is binding as to disputes arising at auction. If a
dispute arises post sale, our records of the sale shall be conclusive. Both
the Auctioneer and MA shall be without any liability whatsoever result-
ing from the exercise of the discretion referred to herein.
e. Reserves
All Property is oered for sale subject to a Reserve unless otherwise
stated by us at time of sale. MA may protect the Reserve by an initial
bid or continued bidding on behalf of the consignor. Any bids by MA
sta after the Reserve is met shall be made only on behalf of registered
bidders. Neither the consignor nor an agent or representative of the
consignor is allowed to bid on their own property.
Disclaimer of Warranties
Except for warranty of title, neither we nor the Consignor make any
warranties, guarantees or representation, express or implied, with
respect to the Property, including, but not necessarily limited to, any
implied warranty of "tness for purpose" or "merchantability."
Any and all statements and descriptions in any catalogue or elsewhere
by MA, relating to age, attribution, authenticity, size, genuineness,
provenance, historical relevance or signicance, physical condition,
importance, quality, quantity, rarity, period, culture, source or origin,
are presented as statements of qualied opinion only.
MA's disclaimer of liability covers information contained in catalogues,
and all other printed material published by us, including any condition
reports that have been prepared. Buyers assume the responsibility to
inspect the Property and make their own decision as to the nature, qual-
ity and value of the Property.
Neither MA nor the Consignor make any warranty or representation
with regard to the existence of or the transfer of intellectual property
rights, except and to such extent as may, from time to time, be explicitly
stated.
No employee of MA is authorized to nor shall make any warranty or
representation on MA's behalf, except as stated in the catalog or in any
written addendum.
Estimates of Value
All estimates of value as published in our catalogues or elsewhere are
statements of qualied opinion as to the range of the price a willing
buyer might pay for the Property at auction. The actual price paid at
auction or subsequently, may vary substantially from the estimates. MA
shall not be liable for any such dierential.
Buyer's Default
If a Buyer fails to pay for purchased Property, or otherwise does not
comply with these Conditions of Sale, the Buyer shall be in default. In
addition to all remedies available in law, to MA and to the Consignor,
the Buyer shall be liable for the entire Purchase price. Additionally, at
our option, we may either cancel the sale and retain all payments made
by Buyer as well as retain any and all Property of Buyer in our pos-
session as security against payment of the sums in default, or we may
re-oer the Property for sale, at auction or privately, without reserve.
Buyer shall be liable to us and the Consignor for the additional fees,
commissions and costs on both sales (including handling, storage, court
costs, and attorney's fees) resulting from the cancellation or resale of the
Property and in the event of resale, any deciency which may result.
Rescission
The sole and exclusive remedy, available only to the original buyer, is
the limited right of rescission set forth herein. MA will cancel the sale
of Property if the original buyer establishes to our satisfaction that
there has been a breach of the Consignor's warranty of title, or that the
identication of Authorship* of the Property as set forth in Bold Type
Heading is not substantially correct, based on a fair reading of the
Catalog (as may be amended by posted or announced changes.) IN ALL
INSTANCES, YOU MUST GIVE WRITTEN NOTICE TO US WITHIN 30
DAYS OF THE SALE OF THE PROPERTY, SETTING FORTH THE BA-
SIS FOR YOUR CLAIM AND, AT YOUR SOLE EXPENSE AND RISK,
RETURN THE PROPERTY IN QUESTION TO MA WITHIN SEVEN (7)
DAYS AFTER NOTICE IS GIVEN AND IN THE SAME CONDITION
AS WHEN SOLD. Upon review of the claim and the property, if we are
satised with the bases for your claim and the property is in the same
condition it was in when sold, MA will rescind the sale and return to
you the Purchase price, unless we have already remitted funds to the
Consignor. In that event, and at MA's sole discretion, MA shall either
pay you as provided above, or shall pay you only that portion of the