Terms and Conditions of Sale
Terms & Conditions of Sale
1. General
Rag & Bone Auctions (hereafter referred to as "Rag & Bone Auctions", "RBA", "Auction House", "Auctioneer", "we", "us", and/or "our").
By bidding, you indicate your understanding, acceptance of, and agreement to be bound by these Terms & Conditions of Sale as amended and supplemented, whether bidding in-house, by phone or absentee bid, internet bidding platform, through a representative, or by any other method. Rag & Bone Auctions may seek all remedies under the law, including, but not limited to, canceling the sale and re-offering the property without reserve, in response to a breach of any of these Terms & Conditions of Sale by a bidder or purchaser, including default on the obligation to pay for purchased items.
2. Sale 'As-Is', Catalog Descriptions & Estimates
All items are sold as is, where is, with all faults. There are no warranties or representations of merchantability, of fitness, nor of any other kind, whether express or implied.
Written and oral descriptions are our opinions, and should in no way be construed as a guarantee of any kind as to age, condition, materials or any other feature of items being sold. All measurements are approximate.
3. Condition Reports & Personal Inspection
All items are available for your examination prior to auction day. We recommend prospective bidders examine all items in which they have an interest. Preview is by appointment only, Monday-Friday, from 10 am to 5 pm, with the exception of any sale day or date, except where otherwise noted.
Please contact the auction house prior to the auction for condition reports or additional images of any items you are planning to place bids on.
Our goal is to provide prospective bidders with accurate and detailed information, however, if you require absolute certainty in all areas of authenticity, and the results of your evaluation leave uncertainty in your mind, we recommend you not bid on the item in question.
Your bidding signifies that you have examined the item(s) as fully as you desire, or that you have chosen not to examine them.
4. Consignor Warranties
Each Lot has been represented and warranted to us by the consignor to be owned by the consignor, or that the consignor is acting as authorized agent of the owner of the Lot, and has the right to transfer title to the Lot free of all liens, claims, and encumbrances.
5. Auctioneer's Discretion, Reserves, Withdrawal
Reserves
All lots in this catalog are offered subject to a reserve, which is the confidential minimum agreed-upon hammer price at which a lot will be sold. In executing a reserve, we have the right to bid on behalf of the consignor, whether by opening bidding or continuing bidding in response to other bidders until reaching the reserve.
Auctioneer's Discretion
Bidding will begin at a price appropriate in our sole and complete discretion, and we reserve the right to reject any bid(s) deemed inappropriate, and to withdraw the item from the sale if the reserve is not met. We reserve the right to lower the bid price at any point during the auction. We may also, at our sole discretion, withdraw any Lot(s), at any time, for any reason we may deem appropriate; additionally, we may re-offer any withdrawn item or Lot again, but are under no obligation to do so.
Auctioneer's Determination Final
Once we have declared that an item is sold, it will be considered final. We will not reopen the bidding. It is the bidder's responsibility to get the auctioneer's attention prior to the fall of the hammer.
4. Registration & Qualifying to Bid
Bidding on an item, or registering to bid with us, indicates your acceptance of, and agreement to be bound by, our Terms & Conditions of Sale.
Due to an increase in the number of non-paying bidders, all prospective bidders MUST provide complete, valid registration information prior to auction day. Bidders with incomplete or invalid registration information WILL NOT be approved to bid, and any bids placed WILL NOT be accepted.
We reserve the right to require bank letters of guarantee for large purchases. Any such credit arrangements must be made by the Friday prior to the day of auction so bank statements can be verified. We reserve the right to not issue a buyer's number or to withhold merchandise if appropriate credit has not been established.
Additionally, we reserve the right to require that any bidder(s) with invoices containing certain items we may deem to be at increased risk for fraud make payment directly via their online bid platform's internal payments system. These items may include, but are not limited to, jewelry, coins, silver & vertu, and all precious metals-containing items; additionally, this may include any and all other item(s) and/or total invoice(s) that we, at our sole discretion, deem to be such.
At our sole discretion, we may require an additional delay prior to release of purchases paid by wire transfer of not less than three (3) business days.
5. Bidding
Please submit your highest and best offer for any item you are interested in; we will be moving through the auction at a fast pace. We are not responsible for missed bids due to entering a late bid.
Bidding Increments
Following are general guidelines for bidding increments:
$0-$50 -------------------------$5
$50-100 -----------------------$10
$100-500 ---------------------$25
$500-1,000 -------------------$50
$1,000-2,000 ----------------$100
$2,000-$5,000 --------------$250
$5,000-$10,000 ------------$500
$10,000 - $20,000 ---------$1,000
$20,000 - $50,000 ---------$2,500
$50,000 - $100,000 -------$5,000
$100,000 and above ------Auctioneer's Discretion
6. Absentee & Phone Bidding
Absentee bidding and phone bidding are available to prospective bidders who cannot be present at the auction. Please complete the Absentee Bid and/or Phone Reservation form. All phone and absentee bids are held in the strictest confidence, and are executed competitively.
All phone and absentee bid requests and complete registration information MUST be received NO LATER than noon (12:00 PM Central Time) on auction day, following which no additional phone or absentee bids, including additions to existing bid forms, will be accepted.
In our experience, cell phones are not always dependable, and we recommend phone bidding be made on land lines, if available. We make every effort to honor all absentee and phone bid reservations, but we are not liable for any losses incurred as a result of failure to execute absentee bids or failed phone bids. Submitting absentee bids or bidding by phone does not imply an extension of credit. Please see number 4, above.
Leaving an absentee or phone bid on a lot indicates your willingness to open the bidding at one half the printed low estimate, and gives the auctioneer the authority to open the bidding at that level. In the case of identical absentee bids, the bid received first will prevail.
7. Online Bidding
We engage the fee-based services of third-party online bidding platforms. You WILL be held responsible for your successful bids on these online platforms, including absentee bids left with such services before the live sale, as well as by any other method, regardless of reason.
Bids left on any online bid platform are NOT executed until the item is offered in the live auction, and are accepted at the auctioneer's sole and complete discretion, without regard to the order in which they are received. Additionally, your bids may be in competition with bids from multiple additional sources, including, but not limited to, phone and/or absentee bidders, in-house ("floor") bidders, and other registered online bidders using a participating online patform (LiveAuctioneers, Invaluable, AuctionZip, eBay).
We do not accept "cut" bids, that is, bids lower than the last interval, from floor bidders or absentee/phone bidders, nor do we accept them from internet absentee bidders. Thus, it is possible that a lot could go to another bidder for less than your absentee bid. For example, if the bids are currently progressing in ten dollar ($10) increments ($50, $60, $70), and your absentee bid falls at $75, we will not take the bid, since it is less than the current bid increment. Bidders are encouraged to bid by phone or to leave absentee bids through our gallery to avoid such a situation.
8. All Sales Final
All sales are final. We do not give refunds. No statement, written or oral, made by the auctioneer shall be deemed a warranty or assumption of liability by Rag & Bone Auctions or by any seller represented by Rag & Bone Auctions.
9. Invoicing, Buyer's Premium, Sales Tax
Invoicing
Rag & Bone Auctions will invoice successful bidders within three (3) business days following the date of sale.
Buyer's Premium
For purchases made by in-house ("floor") bidders, or by phone or by absentee bid, a buyer's premium will be applied to the hammer price of each lot equal to 21% will be applied to the hammer price of each lot; for all successful bidders via any online bidding platform a buyer's premium will be applied to the hammer price of each lot equal to 25%.
Taxes
If you are shipping purchased Lot(s) to a Texas address, or if you retrieve purchases at our Texas gallery location, you must pay applicable Texas sales tax of 8.25%, with the exception of those holding a Texas Sales & Use Tax Permit and have filed a completed Texas Sales & Use Tax Resale Certificate (Texas Comptroller of Public Accounts Form 01-339) at or before the time of payment. Sales tax certificates and forms from other states are also accepted.
No Texas state sales tax is charged for purchases picked up by a third-party shipping provider for shipment to addresses outside of Texas.
10. Transfer of Title, Payment of Purchase & Accepted Methods of Payment
Transfer of Title
On the fall of the hammer, declaration that an item is sold, or other such customary method, an agreement for the sale of the Lot is created between the successful bidder and the consignor, and will be considered binding.
Payment of Purchase
Payment in full is due upon receipt of invoice. In-full payment for successful absentee, phone bids and online bids is required within five (5) business days of the auction.
Permission Granted to Process Payment
Your signature on our Bid Form, your request to bid by phone or absentee bid, or your acceptance of these terms through any online bidding platform, constitutes your express permission to charge successful bids to credit cards if payment is not received within five (5) business days of the auction's end, unless alternate arrangements have been made with Rag & Bone Auctions prior to the day of sale with our express written consent.
Accepted Methods of Payment
For invoices totaling $10,000 and below, accepted methods of payment include cash (in-person transactions only), wire/bank transfer, or major credit card (MasterCard, Visa, American Express, and Discover).
Purchases totaling greater than $10,000.00 MUST be paid by bank wire or transfer, unless Rag & Bone Auctions has given our express consent, in writing, allowing payment by alternate method.
We DO NOT accept payment by check, including cashier's check, unless we have given our express consent, in writing, prior to the date of sale. We DO NOT accept money orders. We DO NOT accept PayPal under any circumstances.
11. Shipping by Third-Party Provider Only
We DO NOT, under ANY circumstances, provide in-house shipping or packaging services, nor are we able to provide estimated shipping cost(s).
Shipment of all items, including packaging for transport, is the sole and complete responsibility of the purchaser, and must be arranged for, and paid by, the purchaser directly with the third-party shipping provider.
Rag & Bone Auctions will have no liability for any loss or damage to shipped items.
For shipping, we recommend:
UPS STORE #2567
Attention: Drake Smith, Auction Shipping Manager
5233 Bellaire Blvd., Bellaire, TX 77401
Phone: (281) 764-9064
E-mail: store2567@theupsstore.com
auctions@epicpartnershipco.com
Please contact us if you require additional shipping recommendations.
IF YOU ARE USING AN ALTERNATE SHIPPING PROVIDER, PLEASE NOTE:
a) NOTICE MUST BE RECEIVED, BY E-MAIL, AT THE TIME OF INVOICE PAYMENT. We must receive notice of your specific shipping instructions, by e-mail, at the time of your invoice payment. All purchased Lot(s) without specific shipping instructions provided by the winning bidder as stated above WILL BE RELEASED, WITHOUT EXCEPTION, to the default shipping provider.
b) WE WILL NOT DELIVER ITEMS TO SHIPPERS. Please be sure to request that your selected shipping provider reach out to us to schedule pick-up of your purchased items from our gallery location.
c) APPOINTMENT REQUIRED. Please contact our office for an appointment prior to scheduling with your shipping provider so that we can ensure an appointment is available to you. Due to limited staff availability, we are unable to accommodate unscheduled property retrieval.
12. Retrieval of Purchases, Storage Fees & Forfeiture
Appointment Required for Retrieval of Purchases
If you are coming in to pick up your items, please schedule with our office so that a staff member will be available to assist you. Due to limited staff availability, we are unable to accommodate unscheduled property retrieval, and no items may be retrieved without a confirmed prior appointment.
Storage Fees
Rag & Bone Auctions reserves the right to impose, and you agree to pay, a minimum storage fee of $50.00, plus $5.00 per lot, per day, for any and all purchases not picked up by you as the purchaser, your agent, or authorized third-party shipping/freight provider within fourteen (14) calendar days following the date of sale, whether or not payment has been made. For all property not picked up in accordance with the above after thirty (30) calendar days, an additional administrative fee of $75 will be charged. In addition, we reserve the right to impose a late charge of one and a half percent (1.5%) per month of the total purchase price if payment is not made in accordance with the conditions set forth herein.
Rag & Bone Auctions shall have no liability whatsoever for any damage to purchases left on our premises for more than fourteen (14) calendar days following the date of sale.
Forfeiture
You, as purchaser, expressly agree to forfeit any and all right to property which is paid for, but left on our premises in excess of sixty (60) calendar days FOR ANY REASON, and you further agree to relinquish all right to any refund(s) for properties not removed as stated. Any and all such property will become sole property of Rag & Bone Auctions, and will be disposed of by any means we see fit.
13. Export and Import
It is your sole responsibility to identify and obtain any and all necessary export, import, firearm, endangered species, or any other permit which may be required with regard to any Lot(s). Rag & Bone Auctions and the consignor make no representations or warranties as to whether any lot is, or is not, subject to export or import restrictions or any embargoes.
14. Endangered Species
Certain property sold at auction (for example, items made of or incorporating plant or animal materials such as coral, crocodile, ivory, tortoiseshell, whalebone, et. al.), irrespective of age or value, may require a license or certificate prior to exportation and additional licenses or certificates upon importation to another country. The ability to obtain an export license or certificate does not ensure the ability to obtain an import license or certificate in another country, and vice versa.
It is your sole responsibility as purchaser to ensure that you are familiar with and understand international, U.S. Federal, and respective State laws regarding any and all necessary licenses or permits prior to placing a bid; you are also solely responsible for obtaining any export or import licenses and/or certificates, as well as any other required documentation for any Lot(s).
Rag & Bone Auctions is not able to assist you in attempting to obtain the appropriate licenses and/or certificates, and there is no assurance that an export license or certificate can be obtained. Please check with our specialists if you are uncertain as to whether a lot is subject to these export/import license and certificate requirements, or any other restrictions on exportation.
In the event of denial of any export or import license or permit, delay in obtaining such licenses or permits, or seizure of any purchased Lot(s) by any authority/authorities, domestic or international, for failure to obtain such licenses or permits, you will still be held responsible for purchase of the Lot(s), including timely, in-full payment, and the foregoing will not constitute grounds for us to, nor will we, rescind or cancel any purchase or transaction for any Lot(s) on such basis.
You agree to fully comply with any and all domestic and international restrictions on the trade of endangered species as a condition of the sale.
We will not release lots governed by these restrictions for export or for shipment to the states of California or New York.
15. Jewelry & Gemstones, Clocks, Watches, & Timepieces
Rag & Bone Auctions makes no warranty or guarantee whatsoever regarding the jewelry, its colored stones, diamonds, other gem materials, or metals, or as to their status as natural, treated, 'earth mined', man-made/synthetic, or otherwise. Any and all gems, colored stones, diamonds, cultured and/or natural pearls, fresh water, south sea, Tahitian pearls, and other materials used in jewelry, may be enhanced by a variety of treatments.
All identifications, including, but not limited to, weight, quality, cut, value and other estimates, and any information of any other type, are to be considered opinions, and are limited by examination and grading, the mountings, the condition, and the cleanliness of the items. Appraisals, descriptions, and photographs are offered solely as a courtesy to our customers, and are not intended to be a complete analysis of the qualities and conditions of the jewelry.
Rag & Bone Auctions makes no warranty or guarantee whatsoever that any clock, watch, or other timepiece is in working order.
16. Rescission by Auction House
In the event that we receive notice of an adverse claim with respect to a sold Lot, at our sole discretion, Rag & Bone Auctions reserves the right (but is not obligated to), to rescind the sale to of any sold Lot, upon written notice to you. Upon such notice, you agree to promptly return the purchased Lot to our premises in the same condition in which it was purchased. Following our receipt of such a Lot, RBA will then promptly refund the full purchase price (hammer price plus buyer's premium and any applicable taxes paid). You agree that you will have no further recourse against RBA or the consignor, and neither we nor the consignor shall be liable for any damages suffered by you as a result, regardless of nature.
17. Governing Law and Forum for Disputes
Our Terms of Sale, and all our auctions, will be governed by the laws of the State of Texas. Any disputes which may arise in connection with any auction or sale by Rag & Bone Auctions will be governed by and construed in accordance with Texas law, and you agree to submit to the jurisdiction of the courts of the State of Texas with respect to such disputes, and further agree that State and/or Federal courts located in the State of Texas will have exclusive jurisdiction over any and all claims asserted against RBA.
We may, in our sole discretion, assert any claims we may have against you in connection with any auction and/or sales in any State or Federal Courts located in the State of Texas, or in any other jurisdiction where you, or assets owned by you, may be found.
In the event that Rag & Bone Auctions brings an action against you to enforce the Terms of Sale and/or to collect any sum due and owing to us, we shall be entitled to collect (in addition to any other amounts owed to us) our reasonable attorney's fees, collection agency fees, and cost of suit from you.
18. Limitations of Liability
Rag & Bone Auctions assumes no liability for any breach or default by the consignor of a Lot.
19. Severability and Waiver
If any provision of these Terms of Sale is deemed unlawful, void, or unenforceable under applicable law, that provision will be stricken and severed from the remaining provisions, which shall remain in full force and effect.
Failure to enforce any provision contained within in these Terms of Sale is not, nor shall it considered to be, deemed a waiver of our right to enforce any other provisions of these Terms of Sale.
20. No Assignment
Unless RBA has issued our consent, in writing, no rights or obligations hereunder may be transferred.
21. Miscellaneous
These Terms of Sale apply to both auctions and any and all private sales.
All paragraphs and subheadings are included in these Terms of Sale for ease of reference and should not be used to interpret the meaning of the substantive provisions.
This auction is conducted by a licensed auctioneer in the State of Texas (Denton Sorrels, License #17596, TDLR [Texas Department of Licensing & Regulation]) under the applicable rules and laws of said State, and covered by the Recovery Fund administered by the Department.
We welcome the opportunity to speak with you regarding any comments, compliments, or concerns you may have. We strive to provide outstanding customer service with a personal touch; as such we kindly request the privilege of assisting you with concerns or complaints, should any arise.
Unresolved complaints may be directed to: Texas Department of Licensing & Regulation, P.O. Box 12157 Austin, Texas, 78711; (800) 803-9202; or may be filed on-line: https://www.tdlr.texas.gov/complaints
