Sarasota Auction Terms of Sale
1. TERMS & CONDITIONS OF SALE. The following conditions of sale make up the entire terms and conditions on which items listed in Sarasota Auction's (known hereafter as "SA") catalog, on the internet web site and addendum sheets will be offered for sale or sold by SA. All bidders who participate by bidding in this auction agree to the terms and conditions of sale and agree to be bound by same. Any notices, posted or oral, during the sale, are also part of our terms and conditions of sale agreement. Acceptance of a bidder card or a bidder number constitutes acceptance of the following terms and conditions of sale. The purchaser's rights and SA's respective rights and obligations hereunder are governed by Florida law. By bidding at SA's auction, whether in person or by agent, sealed bid, telephone bid, via the internet or other means, the purchaser or bidder agrees that the contract created by these terms and conditions of sale is made and performed in the County of Sarasota, State of Florida and further agrees that should any dispute arise from this contract the sole and exclusive jurisdiction for contractual disputes is Sarasota County, State of Florida. THE AUCTIONEER IS NOT RESPONSIBLE FOR ANY ERRORS OF THE PURCHASER INCLUDING BUT NOT LIMITED TO THE PURCHASER BIDDING ON THE WRONG LOT.
2. BUYER'S PREMIUM AND SALES TAX. All bid prices "hammer prices" ("hammer prices" mean the price at which a lot is knocked down to the purchaser) will be subject to a buyer's premium of 18% payable by the purchaser. This is not an aggregate percentage on the total items bid, but rather a per item percentage rate. The premium is added to the purchaser's successful bid and the two together equal the total purchase price. Some items are exempt from Florida sales tax and others may be subject to Florida sales tax or local sales tax. The tax is computed on the total purchase price (hereinafter the total purchase price and applicable sales tax will be referred to as the "Total Amount Due"). To establish a tax free sale, a copy of a valid reseller's permit or other instrument or information must be provided to SA's satisfaction establishing a sales tax exemption, on file with SA before a sale. Any purchaser claiming an exemption yet unable to provide proof at the time of payment will be required to pay the tax to SA and seek a refund from the State of Florida. SA has been authorized by the consignor to retain as part of SA's remuneration, the buyer's premium payable by the purchaser.
3. METHOD OF PAYMENT. Auction sales are strictly for cash, cashier's check, personal checks (with prior approval of SA's management), PayPal, MasterCard, Visa, Discover or American Express. NOTE TO FOREIGN BUYERS: Method of payment will be U.S. currency, certified check drawn on an American bank or wire transfer.
4. TERMS OF PAYMENT. At the announcement of "SOLD", the highest bidder will have purchased the offered lot. All sales are final at the fall of the Auctioneer's hammer or at the announcement of "SOLD". The purchase is subject to all the terms and conditions set forth herein. The purchaser assumes full responsibility thereof and if requested will sign a confirmation of the purchase. The purchaser further agrees to pay the Total Amount Due. The Total Amount Due must be paid in full the day of sale if attending in person, otherwise upon receipt of the buyer's invoice. All property must be removed from SA's premises at the purchaser's expense no later than 5:00 p.m. two days following the date of sale unless otherwise agreed. If the property is not removed within two days following the date of sale, it will be stored at SA's facility at a cost of $10 per item, per day. The purchaser will then be unable to pick up the purchased lots until the storage fees are paid to SA. If the purchased lots are not picked up and storage fees paid to SA, the items will be sold pursuant to Statute Sections 83.801-83.809 of the Florida "Self-storage Facility Act".
Each purchaser at this auction grants SA a security interest in the property purchased. Any of the purchaser's property and all monies held or received by SA on the purchaser's behalf will be retained as collateral security for the purchaser's obligations to SA. SA may apply against such obligations monies held or received by SA for the account of, or owing to, the purchaser. SA retains all rights of a secured party under the Florida Commercial Code. Whenever the purchaser pays only a part of the Total Amount Owed for one or more lots purchased, SA may apply such payments, at SA's sole discretion, to the lot or lots SA chooses. Payment will not be deemed made in full until SA has collected the Total Amount Due in cash or good funds. SA has the sole discretion to determine what is considered good funds. In the event Purchaser pays by check and the check is returned due to insufficient funds, stopped payment, closed account, or for any other reason, and Purchaser already has possession of the property, such possession of the property will be deemed theft by deception and/or theft under 18 U.S.C. § 922(u), which may result In penalties of a fine of up to $250,000, imprisonment in federal prison for up to 10 years, or both. In addition to remedies available to SA and the consignor by law, if the purchaser does not comply with the terms and conditions of sale (this includes but is not limited to payment in full of the Total Amount Due), SA, at its option, may either: (1) cancel the sale and retain as liquidated damages all payments made by the purchaser; or (2) resell the property either publically or privately, and in such an event the purchaser shall be liable for the payment of the deficiency, plus all costs and expenses of both sales and SA's commission for both sales at SA's standard rates, as well as any other damages, including but not limited to loss of profits. The purchaser hereby waives any and all notices of disposition of collateral and sale required under the Florida Commercial Code. The purchaser is also responsible for all other charges due hereunder, in addition to any attorney's fees incurred by SA, incidental damages, and any other damages incurred by SA.
5. INTEREST AND DEFAULT. Payment of the Total Amount Due is due upon receipt of the buyer's invoice. If the amount noted within the buyer's invoice is not paid in full within 2 days of the auction, SA has the right and will charge the purchaser's credit card of record on file for the total invoice amount. Interest will be charged on all unpaid balances at the rate of 1-1/2% per month (18% APR), or the highest allowable rate under Florida law, whichever is lower, beginning 5 days after the date of purchase/auction. The purchaser acknowledges that should the purchaser not comply with any of the terms and conditions of sale, including payment of the full amount indicated on the buyer's invoice, the damages incurred by SA includes, without limitation, consignor commission, loss of use of money for an indefinite period, costs to relist the item and potential depreciation of the item, and loss arising on the resale of the lot, whether such damages are now known or may become known in the future. Accordingly, in the event the purchaser fails to pay the full amount indicated on the buyer's invoice within 7 days after the auction, purchaser shall be immediately liable for liquidated damages in an amount equal to 30% of the amount on the buyer's invoice. These liquidated damages are in addition to the total amount invoiced on the buyer's invoice and any applicable interest. SA shall hold any money deposited in partial payment on account of any liability of the defaulted item and will apply it at the sole discretion of SA to the outstanding debt.
6. WITHDRAWAL. SA reserves the right to withdraw any property from the auction prior to sale.
7. PROTESTS, DISPUTES AND THE AUCTIONEER. SA reserves the right to reject a bid from any bidder. The highest bidder, acknowledged by the Auctioneer, will be the purchaser. The Auctioneer shall have sole and final discretion as to the disposition of any dispute including the re-offer and resale of any article in dispute. SA's records will be deemed conclusive in all respect in the event there is any dispute after the sale.
8. FAILURE TO DELIVER PURCHASER'S PROPERTY. If SA is prevented by fire, theft, or any other reason from delivering any property to the purchaser, SA's liability shall be limited to the sum actually paid therefore by the purchaser and shall in no event include any incidental or consequential damages.
9. GUARANTEE. All property offered for sale is AS IS, WHERE IS. ALL SALES ARE FINAL. THERE WILL BE NO REFUNDS AND NO EXCHANGES. SA does not guarantee or make warranties on any lot sold. The bold headline of the description is the only written statement SA will guarantee as correct. Descriptions in the catalog are opinion. They are written as an aid to potential bidders. SA acknowledges that there may be errors in what is written beyond the bold headline description. SA recommends that you personally view any item you bid on or have an acknowledged expert view the item. Statements regarding condition are opinions, not statements of fact or guarantees. If a dispute about a lot arises it is the purchaser's responsibility to provide a written statement by an acknowledged qualified expert within 7 days after the auction that the bold headline is in fact incorrect. The 7 day return period IS NOT calculated from the date payment is made or the date the items are received. The 7 day return period will not be extended due to delay in payment or delay in receipt of the goods. If the expert's statement is indeed correct SA will make a full refund upon return of the merchandise, provided that the merchandise is returned in the same condition it was received. In the unlikely event that you need to return the merchandise to SA, Purchaser is responsible for all shipping costs. SA must again reiterate the guarantee is only on the bold headline of the description and SA will only honor this guarantee within 7 days of an auction. This right to return an item purchased at an auction shall be expressly limited to situations where errors occurred in the bold headline description of an auction item and such 7-day return provision shall not apply to a return of an auction item for any other reason. SA will have no further obligation, i.e., no refunds or returns will be accepted, if the above conditions are not met. Items offered for sale as described in the catalog or any bill of sale, advertisement, addendum sheet, or elsewhere as to authorship, period, culture, source, origin, measurement, quality, rarity, provenance, importance, exhibition, or physical condition are qualified statements of opinion and not representations or warranties. No employee of SA or any person purporting to act on behalf of SA is authorized to make on SA's or the consignor's behalf, any representation or warranty, oral or written, with respect to any lot or item for sale.
10. BINDING EFFECT, MODIFICATIONS, AND SEVERABILITY. The terms and conditions of sale shall bind the successors and assigns of all bidders and purchasers and inure to the benefit of SA's successors and assigns. No waiver, amendment or modification of the terms hereof (other than posted notices or oral announcements during the sale) shall bind SA unless specifically stated in writing and signed by SA. If any part of these terms and conditions of sale is for any reason invalid or unenforceable, the invalid portion shall be stricken and the rest of the terms and conditions of sale shall remain valid and enforceable.
11. RESERVES. Some items in this auction may be subject to reserve (the confidential minimum price below which the lot will not be sold). If a lot is offered with a reserve, SA may implement that reserve by bidding on behalf of the consignor. No reserve will be allowed higher than the high estimate and in many cases the reserve is lower than the low estimate. This bidding will not generally constitute opening bidding. If SA declares an opening bid and no advance to that bid is received SA will pass the item. However, once bidding is opened SA will bid on behalf of the consignor to reach the reserve price. The Auctioneer may reject nominal bids, which are small opening bids or very nominal advances made with the purpose of disparaging an item. If a lot fails to achieve a bid equal to or exceeding 25 - 30% of the low estimate, the item may be passed and not sold and may not be re-offered until a later sale. This determination of whether to sell the item at the current auction or re-offer it at a later auction is at the sole discretion of the Auctioneer. SA buys items on the open market or may offer a guarantee to a consignor. In either event, SA can have an ownership or other financial interest in the item(s) being auctioned. Such interest in the item(s) being auctioned may not be disclosed. If SA has an interest in an offered lot and the proceeds therefrom, other than our commission, SA may bid on the offered lot to protect such interest and such bidding shall not be prohibited under Section 12 below. Items which are not reserved are sold at the Auctioneer's discretion.
12. BIDS OF CONSIGNORS. Consignors, other than SA, are not allowed to bid on their own merchandise nor have any agent bid on their behalf. If the Auctioneer recognizes such bidding or is advised of same, the Auctioneer reserves the right to withdraw any or all items consigned by the offending consignor. It is not prohibited conduct under this Section 12 when an Auctioneer bids on behalf of the consignor to reach the reserve price as provided In Section 11 above.
13. ABSENTEE BIDDING. As a service to anyone wishing to place bids in advance of the sale SA may accept bids on behalf of potential bidders at SA's own discretion by telephone or internet. Additionally, on-line bidding may be available on SA's website. Purchasers acknowledge that by bidding absentee via mail, e-mail, telephone, through internet providers, or any other absentee means (i.e., not in person bidding), no fiduciary duty exist between the bidder and SA. The purchaser acknowledges SA has a financial interest in all items offered for sale. The purchaser acknowledges that there may be a conflict of interest in that SA may have an interest in items beyond the seller's commission and buyer's premium. In fact, SA may have offered a guaranteed amount to a particular consignor or may actually have an ownership interest in an item offered for sale. Purchaser acknowledges that SA has a fiduciary duty to the sellers and not to the bidders or purchasers. Purchaser acknowledges that SA owes no duty to disclose the ownership of any item being auctioned. Any absentee bid is executed as if the bidder was actually present and bidding themselves. SA will attempt to execute bids in a manner such that the bids will prevail at the lowest bid possible. SA assumes no responsibility for failure to execute telephone, sealed, or website/online bids for any reason whatsoever or for failure to execute bids such that the bids do not prevail at the lowest bid possible.
14. TELEPHONE BIDDING. In order to bid on a lot over the telephone at the time it is being sold the bidder must contact SA in advance to make arrangements. The bidder must contact SA by 3:00 p.m. the day before the sale to make arrangements to bid via telephone. If the bidder contacts SA after 3:00 p.m. the day before the sale, SA cannot guarantee that the bidder's bids will be executed. A representative of SA will contact the bidder on the day of the sale, prior to the requested lot(s) going up for sale. Telephone Bids may be called in to (941) 485-3141 or they can be submitted through our online service.
BY PARTICIPATING IN TELEPHONE BIDDING, THE BIDDER AND PURCHASER UNDERSTAND, ACKNOWLEDGE AND CONSENT TO THE TELEPHONE CONVERSATION BEING RECORDED.
"Cover-Me Bids": As a Telephone Bidder be aware that there is the risk of SA not being able to reach the Telephone Bidder. Therefore the Telephone Bidder may want to consider allowing his or her phone representative to execute bidding on his or her behalf. At the time of arranging for the phone bids, the Telephone Bidder need simply give the maximum amounts he or she is willing to bid on each lot in the event SA is unable to reach the Telephone Bidder. This amount is only utilized if the Telephone Bidder is not on the phone with his or her representative. If the Telephone Bidder is reached via telephone, the phone representative will rely on the Telephone Bidder's verbal instructions only. "Cover-me bids" are not mandatory; the Telephone Bidder can place them at his or her discretion. "Cover me bids" are simply a safety net in case the Telephone Bidder cannot be reached in time or not at all. All terms provided under Section 13 above apply to any "Cover-Me Bids", including but not limited to all acknowledgements made by Purchaser and any disclosure of the absence of any duties by SA.
Online bidding is available through third party providers. Potential bidders are informed that those third party services may charge an additional buyers premium above and beyond the premium charged by SA.
15. FIREARMS LAWS. All post - 1898 firearms must be registered in compliance with federal law. Dealers and out-of-state purchasers must have in their possession on the day of sale, signed copies of their Federal Firearms License (FFL) in order to accept same-day delivery of modern weapons. Purchasers who act as agents for FFL dealers must have a letter of agency as well as a signed copy of the dealer's FFL.
16. CLASS 3. We do not handle any NFA Class 3 Firearms, Weapons , or explosives
17. CONDITION OF FIREARMS. SA makes no warranties or representations whatsoever and no employee or consultant of SA has the authority to do otherwise, concerning the operation of firing condition, fitness for use, safety to store, or reliability, of any firearm, ammunition, or parts. Use of any firearm or ammunition purchased at SA is entirely at the user's risk. SA offers for sale the lots as "collector" lots only. SA strongly recommends that all weapons, ammunition, etc. purchased at auction be examined by a competent gunsmith. SA expressly disclaims any liability whatsoever for accident, injury or damage resulting to any person from the storage or subsequent use of any such lot.
18. DELIVERY, SHIPPING, AND STORAGE CHARGES. All delivery, shipping and storage charges must be paid by the successful bidder prior to delivery of any item.
19. SHIPPING. SA does no packing or shipping of auctioned items, we use outside shipping professionals to pack & ship. SA charges only for the bid price & buyer's premium, all shipping costs will be contracted between the purchaser & their shipper. SA will assist with the arrangement of shipping services where possible and/or make the items available to the shipper of your choice to pack & ship from our location, during regular business hours. SA is not liable for any mistakes or acts of omission in packaging or shipping. Purchased lots handled by outside carriers or packers, including those SA may have recommended, may carry their own insurance and any claims for losses or damages should be addressed directly to the outside carriers or packers. The shipping of any purchased items outside of the United States is hereby classified as "foreign export". All foreign export is the sole responsibility of the purchaser.
The shipping of any purchased items outside of the United States is hereby classified as "foreign export". All foreign export is the sole responsibility of the purchaser.
20. DISPUTES UNDER THIS CONTRACT. Purchaser and SA agree to mediate any dispute or claim arising between them resulting from the purchaser participating in the auction or any resulting transaction, with the exception of the failure of the purchaser to make full payment of the purchaser's obligations to SA. In the event the purchaser fails to make full payment to SA, SA may, but is not required to, proceed directly to court. Furthermore, the purchaser and SA agree that should Mediation be necessary, Mediation fees, if any, will be borne equally by the parties. Purchaser and SA are required under the terms and conditions of sale to enter into Mediation before arbitration or any court action. Should a party commence legal action other than Mediation without giving written notice to the other party, the party so commencing the legal action will not be entitled to recover attorney's fees even if they would otherwise be allowed in the action. All mediation, arbitration and court proceedings, whether in state or federal court, shall be filed and conducted solely within Rock Island County, State of Illinois, and not in any other jurisdiction.
Should Mediation not settle the dispute between the parties, the purchaser and SA agree that any dispute or claim, in law or equity, resulting from the participation in the auction or any resulting transaction shall be settled in neutral binding arbitration utilizing the standards of American Arbitration Association and must be initiated and carried out in Sarasota County, State of Florida. Any bidder or purchaser agrees that the election of restricting any and all claims to Arbitration is a voluntary decision and is evidenced by the bidder or purchaser's participation in the auction. The purchaser specifically agrees to the following: I have read the terms and conditions of sale and by my participation in this sale I agree all disputes arising out of my participation will be first submitted to Mediation, and if Mediation is not successful in resolving the dispute I then submit to neutral binding Arbitration with SA and any other entity under this contract. No lawsuit shall be filed until a person has in good faith completed all Mediation and Arbitration proceedings as required hereunder.
21. LIMITATION OF LIABILITY. EXCEPT AS EXPRESSLY PROVIDED ABOVE, ALL PROPERTY IS SOLD "AS IS". NEITHER THE SARASOTA AUCTION NOR THE CONSIGNOR MAKES ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE TITLE, MERCHANTABILITY, FITNESS OR CONDITION OF THE PROPERTY OR AS TO THE CORRECTNESS OF DESCRIPTION, GENUINENESS, ATTRIBUTION, PROVENANCE OR PERIOD OF THE PROPERTY OR AS TO WHETHER THE PURCHASER ACQUIRES ANY COPYRIGHTS OR OTHER INTELLECTUAL PROPERTY RIGHTS IN LOTS SOLD OR AS TO WHETHER A WORK OF ART IS SUBJECT TO THE ARTIST'S MORAL RIGHTS OR OTHER RESIDUAL RIGHTS OF THE ARTIST. ALL FIREARMS AND AMMUNITION ARE SOLD AS COLLECTOR LOTS ONLY. FITNESS TO FIRE OR OTHERWISE DISCHARGE THE ARM OR AMMUNITION IS EXPRESSLY DENIED BY SARASOTA AUCTION HOUSE. A COMPETENT GUNSMITH SHOULD BE CONSULTED BEFORE ATTEMPTING TO USE OR FIRE ANY FIREARM OR AMMUNITION. THE PURCHASER EXPRESSLY ACKNOWLEDGES AND AGREES THAT IN NO EVENT SHALL THE SARASOTA AUCTION COMPANY BE LIABLE FOR ANY DAMAGES INCLUDING WITHOUT LIMITATION ANY COMPENSATORY, INCIDENTAL OR CONSEQUENTIAL DAMAGES.
22. OUT OF STATE TAX CERTS. ARE HONORED BUT NEED A MINIMUM OF 24 HOURS ADVANCE NOTICE TO CERTIFY THEM AS CURRENT. OUT OF STATE BUYERS WILL NOT BE CHARGED FLORIDA STATE AND SARASOTA COUNTY SALES TAX IF THE ITEMS ARE SHIPPED OUT OF STATE, BUT IF THEY ARE PICKED UP OR DELIVERED WITHIN THE STATE OF FLORIDA, SALES TAX APPLIES. ANY FLORIDA BUYER WHO DOES NOT HAVE A CURRENT FLORIDA TAX CERT. ON FILE WILL BE CHARGED SALES TAX AND THAT TAX WILL NOT REFUNDED ONCE THE TAX CERT HAS BEEN UPDATED.
23. Remember we have a $5,000.00 bid limit per bidder per auction, if you would like this limit raised please contact us.
24. REMEMBER THIS IS AN ABSOLUTE AUCTION, WITH NO RETURNS OR REFUNDS, The auction gallery acts only as an agent for the seller and does not own anything in the auction.
