Terms and conditions
Terms & Conditions
By bidding at our auction, you agree to be bound by the following terms and conditions. As used in the following terms and conditions, "JADA", "We", and "Us" refers to JADA Auctions, Inc.
1. There is a 25% buyer's premium added to the successful hammer price of every lot, which the purchaser of the lot agrees to pay along with applicable taxes as part of the total purchase price.
2. Payment for auction lots and premiums, can only be made by cash, check, bank wire transfer (domestic or international) or money order. Credit cards payments van only be made through Invaluable online platform. We reserve the right to hold items paid by check from unknown buyers until payment has cleared.
3. JADA is required by law to collect and remit the appropriate sales tax in the State of New York. Unless exempted by the law, the purchaser will be required to pay state, and local sales taxes, any applicable compensating use taxes of another state, and if applicable, any federal luxury or other tax, on the total purchase price including buyer's premium. Purchases picked up or delivered to locations in New York State are subject to sales or compensating use tax of corresponding jurisdiction. Buyers claiming exemption from sales tax must have the appropriate documentation on file with JADA prior to the release of the property. If property is delivered to a state where JADA is not required to collect sales tax, it is the responsibility of the purchaser to self-assess any sales or use tax and remit it to taxing authorities in that state. JADA is not required to collect sales tax for property delivered to the purchaser outside of the United States.
4. Any items bought and not picked up in person on the auction day, will be stored by JADA and will be made available for shipment or pick-up by appointment only. Purchaser should contact JADA at the time of payment if they have specific preferences with regard to shipment.
5. The items offered for sale by JADA auctions, Inc. are offered either as agent for consignors or by us as owner. The contract for sale of the items is made therefore between the consignor of the property and the buyer. In cases where we own the property, the contract for sale is made between us and the buyer.
6. Bidders should personally examine each lot on which they will be bidding, in order to determine condition, size, and restoration or repair. All items are sold as-is and where-is. JADA auctions, Inc. disclaims any express or implied warranties or guarantees as to the authenticity, condition, merchant-ability, and fitness for a particular purpose, correctness of the catalog or supplemental material, or other description of the physical condition, size, quality, rarity, importance, medium, provenance, exhibitions, literature or historical relevance of any property. No statement made anywhere, by us, our employees, officers, or agents, whether written or verbal, shall be deemed such a warranty or assumption of liability. Estimates of the selling price should not be relied on as a statement that this is the price at which the item will sell or its value for any other purposes. Photographic images of items being offered, whether provided in print or online, as well as references in the catalog entry or condition report to damage or restoration are for guidance only and are provided as a convenience to prospective bidders. The absence of any reference in a condition report or photograph does not imply that an item is free from defect or restoration, nor does a reference to particular defects imply the absence of any others. Neither JADA nor its consignors are responsible in any way for errors and omissions in the catalog, condition reports, or any other supplemental material. All sales are considered final with the following exception: JADA will agree to a refund of the purchase price if within twenty-eight (28) days of purchase, the purchaser obtains and sends to JADA a signed written letter from a mutually recognized expert stating unequivocally that the auctioned item is a forgery.
7. When making a bid, a bidder is accepting personal liability to pay the purchase price, including the buyer's premium and all applicable taxes, plus all other applicable charges, unless it has been explicitly agreed in writing with JADA auctions, Inc. before the commencement of the sale that the bidder is acting as agent on behalf of an identified third party acceptable to us, and that we will only look to the principal for payment.
8. We reserve the right to withdraw any property before or during the sale and shall have no liability whatsoever for such withdrawal.
9. Unless otherwise announced by the auctioneer, all bids are per lot as numbered in the catalog.
10. We reserve the right to reject any bid. Subject to our discretion, the highest bidder accepted by the auctioneer will be the buyer and the striking of his hammer marks the acceptance of the highest bid and conclusion of a contract for sale between the seller and buyer.
11. All lots in this catalog are offered subject to a reserve, which is the confidential minimum hammer price at which a lot will be sold. Reserves are agreed upon with consignors or, the absence thereof, in the absolute discretion of JADA. We may implement reserves by opening the bidding on behalf of the consignor and may bid up to the amount of the reserve, by placing successive or consecutive bids for a lot, or bids in response to other bidders. In certain instances, the consignor may pay us less than the standard commission rate where a lot is "bought-in" to protect its reserve. If the auctioneer decides that any opening bid is below the reserve of the article offered, he may reject the same and withdraw the article.
12. Subject to fulfillment of all of the conditions set forth herein, on the fall of the auctioneer's hammer, title to the offered lot will pass to the highest bidder acknowledged by the auctioneer, and such bidder thereupon (a) assumes full risk and responsibility therefore and (b) will immediately pay the full purchase price or such part as we may require. In addition to other remedies available to us by law, we reserve the right to impose from the date of sale a late charge of the annual percentage rate of 12%, of the total purchase if payment is not made within seven days of the sale. All property must be removed from our premises by the purchaser at his expense not later than 10 business days following its sale and, if it is not so removed (i) a handling charge of 1% of the total purchase price per month from the tenth day after the sale until its removal will be payable to us by the purchaser, with a minimum of 5% of the total purchase price for any property not so removed within 60 days after the sale, and (ii) we may send the purchased property to a public warehouse for the account, at the risk and expense of the purchaser. If any applicable conditions herein are not complied with by the purchaser, the purchaser will be in default and in addition to any and all other remedies available to us and the Consignor by law, including, without limitation, the right to hold the purchaser liable for the total purchase price, including all fees, charges and expenses more fully set forth herein, we, at our option, may (x) cancel the sale of that, or any other lot or lots sold to the defaulting purchaser at the same or any other auction, retaining as liquidated damages all payments made by the purchaser, or (y) resell the purchased property, whether at public auction or by private sale, or (z) effect any combination thereof. In any case, the purchaser will be liable for any deficiency, any and all handling charges, late charges, expenses of both sales, our commissions on both sales at our regular rates, legal fees and expenses, collection fees and incidental damages. We may, in our sole discretion, apply any proceeds of sale then due or thereafter becoming due to the purchaser from us, or any payment made by the purchaser to us, whether or not intended to reduce the purchaser's obligations with respect to the unpaid lot or lots, to the deficiency and any other amounts due to us. In addition, a defaulting purchaser will be deemed to have granted and assigned to us a continuing security interest of first priority in any property or money of or owing to such purchaser in our possession, and we may retain and apply such property or money as collateral security for the obligations due to us. We shall have all of the rights accorded a secured party under the applicable Uniform Commercial Code. Payment will not be deemed to have been made in full until we have collected good funds, and we shall be entitled to retain items sold until all amounts due to us have been received in full in good cleared funds or until the buyer has satisfied such other terms as we, in our sole discretion, shall require. In the event the purchaser fails to pay any or all of the total purchase price for any lot and JADA nonetheless elects to pay the Consignor any portion of the sale proceeds, the purchaser acknowledges that JADA shall have all of the rights of the Consignor to pursue the purchaser for any amounts paid to the Consignor, whether at law, in equity, or under these Conditions of Sale.
15. JADA is under no obligation, but may agree, to package and ship an item at the request of the purchaser. The purchaser agrees that packaging, shipping and handling is the absolute risk of the purchaser. The purchaser will pay all costs including, but not limited to, the handling and insurance associated with shipping. JADA will be held harmless from any claim and any rights of subrogation from an insurance carrier are waived against JADA. We are not responsible for the acts or omissions of third parties whom we might retain for the purposes of handling, packing and shipping. Similarly, where we may suggest handlers, packers or carriers, we do not accept responsibility for their acts or omissions.
16. We are under no obligation to assist in applying for an export license, but if the buyer requests us to apply for an export license on his or her behalf, we shall be entitled to make a charge for this service. We shall not be obliged to rescind a sale nor to refund any interest or other expenses incurred by the buyer where payment is made by the buyer in circumstances where an export license is required.
18. In no event will our liability to a purchaser exceed the purchase price actually paid.
19. We reserve the right to retain, publicize, and publish any photographs and descriptions of property we offer both prior to the auction and afterwards. We reserve the right to publicize and provide the results of any sale, including images, on our own website as well as to any third party we choose, including online auction-result databases. All images, text, photographic reproductions, and design in this catalog are subject to copyright and may not be reproduced without our explicit written permission. We and the consignor make no representations and warranties, express or implied, as to whether the purchaser acquires any copyrights, including but not limited to, any reproduction rights in any property.
20. If any part of these terms and conditions of sale is found by any court to be invalid, illegal or unenforceable, that part shall be discounted and the rest of the conditions shall continue to be valid to the fullest extent permitted by law. These conditions of sale, as well as the purchaser's and our respective rights and obligations here-under, shall be governed by and construed and enforced in accordance with the laws of the State of New York. By bidding at an auction, whether present in person or by agent, order bid, telephone or other means, the purchaser shall be deemed to have consented to the jurisdiction of the state courts of, and the federal courts sitting in, the State of New York.
21. JADA reserves the right to waive or modify the conditions and terms of sale by written agreement.
Bidding on any item indicates your acceptance of these terms and conditions, as outlined above.
