Auction Terms and Conditions
Auction Terms and Conditions
At auctioneer's discretion, the highest bidder, hereinafter referred to as the "Buyer" shall be deemed to have purchased the item offered at the auction according to all terms and conditions set forth herein. The Buyer shall pay the full purchase price, the commission paid by the buyers hereinafter referred to as "Buyers Premium" and any applicable taxes or fees in full. Bidding on any item in person, online, on phone and/or using any written or digital media indicates the Buyer's acceptance of all terms and conditions set forth herein.
1. All Sales are final with no refund and no exchange. Positively all goods are sold on an "AS IS WHERE IS, WITH ALL FAULTS" basis. The entire risk as to quality, authenticity and performance is on the buyer. Should the goods prove defective, false and/or flawed after purchase, only the buyer assumes the entire responsibility.
2. All statements including but not limited to verbal statements and those contained in the printed and/or online catalog, invoices, at the sale, bill of sale or elsewhere as to age, material, estimated low and high prices, period, condition, performance, measurements, authenticity, authorship, creator, manufacturer, serial numbers or source are only our informed opinion and shall not be considered to be warranties, assumption of liability or representations. Furthermore, we do not guaranty and we do not assume any responsibility for the originality, authenticity, the contents and any other feature of any document/s associated with any items in this auction including but not limited to certificates, appraisals, all GIA documents and/or any reports of any kind.
3. All items are sold with a minimum reserve price unless stated otherwise.
4. All purchases are subject to fourteen to seventeen percent (14% to17%) Buyers Premium, a commission paid by the Buyer and added to the purchase price.
5. All purchases are subject to applicable sales tax. The Buyers Premium is subject to applicable sales tax as well.
6. The Buyer shall pay for all purchases in full within 5 (five) days of the auction. Late fees and other late payment charges may apply if the buyer fails to pay within 5 (five) days from the auction day.
7. We accept cash and certified funds. We also accept Visa, MasterCard and Discover Card with proper identification. We reserve the right to reject any credit card payment if the buyer is not able or refuses to provide us with a government issued photo identification, in which case the buyer shall pay with certified funds. We may limit the limit of credit card payments at our discretion. We do not accept foreign issued certified funds. Furthermore, we reserve the right to hold merchandise before shipping up to 7 days after payment has been received to verify all methods of payments for authenticity. Also, buyer shall provide us with proper identification, address, phone numbers and other credentials in order for us to accept payment. At our discretion, we may ask buyer/s for the irrevocable credit card authorization to obtain an authorization on the buyers' credit card before, during and/or after the auction and to charge the credit card for all purchases through successful bidding at the auction.
8. The Buyer shall pay for shipping and handling expenses in advance. We may provide handling and domestic shipping upon Buyer's request at full Buyer's expense. Regardless of who packs, handles and ships the sold goods, the Buyer is fully responsible for all risks including but not limited to losses, damages, delays and wrong deliveries. International and domestic buyers are responsible for import and/or export laws and regulations, licensing and restriction in the originating and destination countries before bidding on an item. Regardless of any restrictions and/or limitations, the Buyer is responsible for immediate full payment of the purchased items.
9. Before and/or during the sale, the auctioneer or the Montecito Auction Company's employees or agent may ask the Buyer for a deposit for the purchased item or items before we would accept any further bids from the Buyer.
10. We reserve the right to withdraw any item or items from the sale before or during the actual auction sale event with or without reason.
11. If we are hindered to deliver the purchased items to the Buyer for any reason, our liability shall be limited to the sum actually paid by the Buyer. We do not assume any liability to the Buyer if the item is lost or damaged before payment and/or delivery.
12. If an item is presented with a minimum reserve price we may bid on behalf of our consignor to apply such a reserve.
13. We positively reserve the right to reject any bid/s and we reserve the right to reject doing business with anyone or provide service to anyone with or without reason.
14. We, our consignors, our employees and agents are not giving the Buyer any copyrights or reproduction rights to any items sold or presented at our auctions. We reserve all rights to all images and statements, printed and/or digital. Buyer does not assume rights to images and statements of purchased good, they remain our property.
15. If the Buyer breaches any of its obligations under these term and conditions, including but not limited to the obligation to pay the purchase price in full for all items the Buyer purchased, we may exercise all of its rights and remedies under the law without limitation, including: (a) canceling the sale and applying any payments made by the purchaser to the damages caused by the purchasers breach, and/or (b) offering at public auction, without reserve, any lot or item for which the purchaser has failed to pay in full the purchase price, holding the purchaser liable for any deficiency plus all costs of sale.
16. In the event that any court of competent jurisdiction shall determine that any one or more of the provisions or part of a provision contained in this Terms and Condition of Sale, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision or part of a provision of this Terms and Condition of Sale; but this Terms and Condition of Sale shall be reformed and construed as if such invalid or illegal or unenforceable provision, or part of a provision, had never been contained herein, and such provisions or part reformed so that it would be valid, legal and enforceable to the maximum extent possible.
17. This auction is conducted under the laws governed by the laws of State of California USA (laws applicable to conflicts or choice of law are excluded). The Buyer/s agrees that any lawsuit or any claim of any sort for the enforcement of this agreement and any action against Montecito Auction Company in connection with the transactions considered by this agreement shall be brought and filed, in the courts of the Los Angeles County or Ventura County California or any Federal court sitting therein. The Buyer/s agrees to the nonexclusive jurisdiction of such courts and waives objections that it may now or hereafter have to the venue of any such suit.
18. We reserve the right to resell a purchased item if the Buyer of the item/s has not paid in full for that item within seven (5) days after the auction date. However, even after the items have been sold to others, the Buyer remains responsible for all commission not less than $500.00 (five hundred US dollars)
