Terms and Conditions

TERMS AND CONDITIONS OF SALE

1. This is a public, mail and internet auction sale held by Michael E. Aldrich Auctions, a division of Michael E. Aldrich, Inc., a licensed and bonded auctioneer ( the "Auctioneer"). He alone has discretion over the procedures in conjunction with the auction sale.

2. All lots are sold to the highest bidder. In the event of any dispute, between any bidders the Auctioneer at his sole discretion, may reopen or re-offer any lots for resale. The Auctioneer's decision shall be final.

3. The Auctioneer has the right to group two or more lots together and may withdraw any lot prior to a call for bids. The Auctioneer has the right to act on behalf of the consignors, and consignors may bid on their own behalf. If a consignor bids, he must pay the seller's commission and buyer's premium. The Auctioneer may have advances extended to certain consignors in the sale.

4. All sales are strictly cash and payable immediately upon receipt of the auction invoice. Floor buyers shall pay the total amount due before receiving delivery of lots. Successful mail buyers, unless they are known to the Auctioneer or supply acceptable references, will be notified of the amount due for the lots successfully secured for them, and they are expected to send total payment within five days of receipt of such notice, before lots can be delivered. All lots delivered in the state of Arizona or any other state the sale is held will be required to pay all sales and use taxes applicable for that state, unless appropriate resale permits are on file with us. All shipping, handling and insurance charges will be paid by the buyer.

5. The Auctioneer reserves the right to require full payment before delivery of any lots to any buyer. Bidders personally guarantee payment for any successful purchases, and a corporation, or an officer or principal of the corporation agrees to personally guarantee payment. All lots remain the property of Michael E. Aldrich Auctions until paid in full. The Auctioneer has the right to void any sale if payment in full is not received by the Auctioneer within 30 days after the date of invoice. Any invoice that is not paid for in full within 30 days after the date of sale, will be subject to a service fee in the amount of 2% per month on the unpaid balance. If the Auctioneer refers the unpaid invoice to an attorney or collection agency the buyer agrees to pay any and all fees incurred.

6. There will be a 15% Buyers Premium added the hammer price of each lot purchased by any successful bidder.

7. Lots are sold at an advance over the second highest bidder. Bidding increments are published in the catalog. The Auctioneer has the right to reject any bid, which in his opinion is not submitted in good faith or from bidders, who in his opinion, submit inadequate references.

8. Bids may be made by mail, telephone, e-mail, or fax. All bid sheets must be filled out completely & signed. No bids will be accepted from a person under the age of 18 unless signed by parent or guardian.

9. No buy or unlimited bids will be accepted. "Or" bids are encouraged by bidders but must be clearly marked on bid sheets as such. No "and" bids are accepted. The bidder is responsible for any errors in bidding. In the event of a tie bid, the earliest bidder receives the lot.

10. Lots may have estimate ranges to assist bidders in determining what the market value is. Bidders who bid fractions of the estimates may have their bids rejected by the Auctioneer.

11. Any lot, which is not described correctly, may be returned if done so within five days of receipt of the lots. No illustrated lots may be returned for reasons of centering, cancellation, perforations or margins shown in the illustration. Buyers who have viewed lots may not return viewed lots. Lots may be put on extension for authentication.

12. All lots are sold as genuine. Mail bidders who wish an extension on a lot must indicate this at the time they place their bids. Floor buyers must indicate any extensions at the time of settlement on lots purchased. Any lots put on extension must be paid for in full upon receipt of lots. In the unlikely event of a negative opinion, the auctioneer mat at his discretion resubmit any lot returned with a negative opinion. Lots dated within 10 years of the date of sale may not be granted an extension.

13. In the event a dispute arises regarding payment, authenticity, or descriptions between the bidder and the Auctioneer, the Auctioneer, at his sole discretion, may submit the disputed matter to binding arbitration, to which the bidder, by placing a bid and hereby accepting these Terms & Conditions, agrees to be bound.


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