Bidding Increments
| From: | To: | Increment: |
|---|
| $0 | $499 | $25 |
| $500 | $999 | $50 |
| $1,000 | $2,999 | $100 |
| $3,000 | $4,999 | $250 |
| $5,000 | $9,999 | $500 |
| $10,000 | $29,999 | $1,000 |
| $30,000+ | | $2,000 |
Payment Terms
Payment: Payment must be made within seven (7) days following the auction. Payment may be made by paypal, American Express, wire transfer, check, cashier's check, money order, Visa, Mastercard, or Discover, however, invoices exceeding $50,000.00 must be paid by cash, check, or wire transfer; PBMA will not accept credit cards for invoices above this amount. Additionally, international bidders must pay by wire transfer; no other form of payment transfer will be accepted from international bidders or buyers. Buyers paying by credit card must sign and date the 'Auction Terms and Conditions Credit Card Authorization Form' and submit same to PBMA via fax or email. Buyer consents to the completion of Buyer's credit card transaction without Buyer's signature. Checks should be made payable to 'Palm Beach Modern Auctions' and mailed or delivered to PBMA. If a buyer fails to make timely payment as required in this paragraph, PBMA shall be entitled, in its sole discretion, to exercise any remedies legally available to PBMA, including, but not limited to, the following: (a) cancellation of the sale of the property to the non-paying buyer, including the sale of any other property to the same buyer; (b) reselling the property at public or private sale, with or without reserve; (c) retention of any amounts already paid by the buyer for the unpaid items, as compensatory damages for the lost opportunity to sell the items at full hammer price; (d) rejection of any bids of the buyer at future auctions; (e) setting off any amounts owed by PBMA to the buyer; (f) releasing buyer's name and contact information to the consignor; and (g) taking any other action PBMA deems necessary or appropriate under the circumstances.
Shipping/Pick-up/Storage
Shipping/Pick-up/Storage: PBMA highly recommends that bidders obtain shipping quotes prior to bidding. If you would like to obtain a shipping quote prior to the auction, please contact PBMA by phone or email for a list of shippers, or contact your own shipper. PBMA provides shipping lists only as a service to its clients and any such list should not be considered an endorsement of any shipping company. Additionally, PBMA does not pack or ship items for insurance reasons. Final arrangements for shipping, and all costs associated with shipping, are the responsibility of the buyer. Any agreement for shipping is a contract between the buyer and the shipper; PBMA is not a party to any such contract and expressly disclaims any responsibility thereunder. No items will be released for shipping until PBMA receives payment in full and all payments have cleared. Thereafter, items may be picked up at PBMA's exhibition facility Monday through Friday between 10:00 A.M. - 5:00 P.M. by the winning bidders or their shippers. Please call PBMA the day before you intend to pick-up any item. If a shipper is picking up an item, please send PBMA an e-mail confirming the name of the shipper and the property to be released into the shipper's possession, and providing PBMA permission to release the property to your shipper. All winning lots must be picked up within thirty (30) business days following the close of the auction. After this time, each lot will become subject to storage fees of not less than $5 per day. After 180 days following the close of the auction, any lot which is not picked up will become the property of PBMA and may be disposed of by PBMA, in any manner it chooses, without recourse.
Shipping/Pick-up/Storage
Shipping/Pick-up/Storage: PBMA highly recommends that bidders obtain shipping quotes prior to bidding. If you would like to obtain a shipping quote prior to the auction, please contact PBMA by phone or email for a list of shippers, or contact your own shipper. PBMA provides shipping lists only as a service to its clients and any such list should not be considered an endorsement of any shipping company. Additionally, PBMA does not pack or ship items for insurance reasons. Final arrangements for shipping, and all costs associated with shipping, are the responsibility of the buyer. Any agreement for shipping is a contract between the buyer and the shipper; PBMA is not a party to any such contract and expressly disclaims any responsibility thereunder. No items will be released for shipping until PBMA receives payment in full and all payments have cleared. Thereafter, items may be picked up at PBMA's exhibition facility Monday through Friday between 10:00 A.M. - 5:00 P.M. by the winning bidders or their shippers. Please call PBMA the day before you intend to pick-up any item. If a shipper is picking up an item, please send PBMA an e-mail confirming the name of the shipper and the property to be released into the shipper's possession, and providing PBMA permission to release the property to your shipper. All winning lots must be picked up within thirty (30) business days following the close of the auction. After this time, each lot will become subject to storage fees of not less than $5 per day. After 180 days following the close of the auction, any lot which is not picked up will become the property of PBMA and may be disposed of by PBMA, in any manner it chooses, without recourse.
Buyer's Premium
Buyer's Premium: Bidders will be charged a 27% buyer's premium on the hammer price of each lot purchased up to and including $75,000 and a 25% buyer's premium for any lot exceeding $75,000. The Total Sales Price of an item will be calculated as follows: the hammer price of the item, plus the buyer's premium, plus 7% Palm Beach County sales tax, unless exempt (see 'Sales Tax' below). Bidders paying by credit card or paypal will be charged an additional 2.5% credit card fee on the Total Sales Price.
Sales Tax
Sales Tax: Sales tax will be added to all purchases at the rate of 7% (Palm Beach County sales tax rate) of the hammer price plus the buyer's premium. No sales tax will be charged if the successful bidder provides PBMA with a copy of a valid 'Resale Form' or 'Tax Exempt Certificate.' Items shipped out of state are not subject to sales tax as long as the successful bidder furnishes PBMA with a copy of a shipping document from a shipper showing that the lots are being shipped out of state.
