Terms and Conditions of Sale
Conditions Of Sale
The following as amended by any posted notices or oral announcements during the sale, constitutes the entire terms and conditions on which property listed in the catalog shall be offered for sale or sold through Nico Auctions. (the "Company"), for any consignor of such property for whom we act as agent.
As used herein, the term "bid price" means the price at which a lot is knocked down to the purchaser and the term "purchase price" means the aggregate of (a) the bid price (b) a premium of 22% of the bid price up to and including $50,000 and 22% of the amount by which the lot exceeds $50,000 payable by the purchaser to the Company and (c) unless the purchaser is exempt by law from the payment thereof, any Delaware state or local sales taxes.
On the fall of the auctioneer's hammer, the highest bidder shall be deemed to have purchased the offered lot in accordance with all of the conditions set forth herein and thereupon (a) assumes full risk and responsibility therefor (b) if requested will sign a confirmation of purchase thereof, and (c) will pay the purchase price in full. The Company reserves the right to withdraw any lot at any time before the actual sale. Unless otherwise announced by the auctioneer at the time of sale, all bids are per lot as numbered in the catalog and no lot shall be divided for sale.
The Company reserves the right to reject a bid from any bidder. The highest bidder acknowledged by the auctioneer shall be the purchaser. In the event of any dispute between bidders, or in the event the auctioneer doubts the validity of any bid, the auctioneer shall have sole and final discretion either to determine the successful bidder or to re-offer and resell the lot in dispute. If any dispute arises after the sale, the Company's sales records shall be conclusive in all respects. In the event of a tie bid between an absentee bidder and a live bidder, the lot will be sold to the live bidder.
If a lot is offered subject to a reserve (the confidential minimum price below which the lot will not be sold), the Company may implement such reserve by bidding on behalf of the consignor, whether by opening bidding or continuing bidding until the reserve is obtained, by placing consecutive bids or bids in response to other bidders. Consignors shall not be permitted to bid on their own items.
While the Company has endeavored to catalog and describe the lots correctly, each lot is sold "as is", and neither the Company nor the seller warrants or represents, nor shall be responsible for, the description, genuineness, provenance, importance, or condition of a lot.All property sold by nico auctions and its consignors, any method of sale is sold AS IS, WHERE IS, make no guarantees, warranties, representations, authenticity , physical condition, size, quality, rarity, importance, provenance, exhibition history, literature, or historical relevance of the property, or otherwise. However, the present auction is an "absolute auction" where property is sold to the bidder without limitations and/or contingencies.We strongly recommend that you or your agent personally inspect all items before bidding. Any condition statement is given as a courtesy to a client. It is only an opinion and should not be treated as a statement of fact. Nico Auctions shall have no responsibility for any error or omission. The absence of a condition statement does not imply that the lot is in perfect condition or completely free from wear and tear, imperfections, or the effects of aging. Nico Auctions cannot and will not guarantee the age and/or authenticity of items. It is entirely up to the bidder to determine age and/or authenticity of items. Catalogs, including on-line catalogs and brochures are guides only and are based on sources believed to be reliable but their accuracy cannot be guaranteed.All lots are sold as is where is,no returns.
No statement contained in the catalog or made verbally prior to or during the sale shall be deemed to express any warranty, representation, or assumption of responsibility by the Company or the Seller.
In the event that the buyer of any lot fails to pay the purchase price thereof when due, the Company shall have the option, at its sole discretion, to (a) enforce payment by civil action or other proceedings against the buyer; (b) void the sale as if said sale had not occurred; (c) to exercise any other remedy or remedies available under the law (d) to charge successful bids to the buyer's credit card, including the 22% buyer premium.
The Company reserves the right to require that advance bids received either by mail or by means of telecommunications be accompanied by a 25% deposit. The Company further reserves the right to require payment in full of the sales price ("Hammer Price") at the moment of successful bid. The Purchase Price must be paid by the successful bidder on or prior to the close of the auction.
Nico Auction shall have all of the rights afforded a secured party under provisions of the Uniform Commercial Code applicable in the State of Delaware with respect to such property and Nico Auction may apply against such obligations all monies held or received by Nico Auction for the account of, or due from Nico Auction to, such purchaser. At Nico Auction' option, payment will not be deemed to have been made in full until Nico Auction have collected funds represented by checks, or, in the case of bank or cashier's checks, Nico Auction have confirmed their authenticity.
Absolutely no items may be removed before the end of the auction. All items must be removed by the purchaser thereof promptly after the auction. The Company is not liable for any damage to goods after they have been sold. A storage charge of $5 per item per day will be assessed against any items remaining in the custody of the Company by the close of business of the fifteenth day following the auction.
PAYMENT TERMS
Invoices will be emailed to the email address registered with Live Auctioneers within 24 hours of the conclusion of the Auction and payment is due upon receipt of the invoice. ALL ACCOUNTS MUST BE SETTLED WITHIN 8 DAYS OF THE AUCTION DATE! Payment shall be in cash(In House Only), money order, cashier's check, bank wire transfer (contact our office for bank wire details) MC & VISA. Nico Auctions reserves the right to require a bank check or wire transfer for large purchases. Personal and business checks will be accepted and NICO AUCTIONS reserves the right to hold all items purchased until any check has cleared our bank unless known to or an existing customer of NICO AUCTIONS in good standing. A service charge of $25.00 will be charged for any returned check. NICO AUCTIONS does accept PAYPAL. All items are to be packed and shipped at the Purchaser's expense.
REMOVAL OF GOODS, STORAGE & PICK UP
Nico Auction offers IN-HOUSE shipping. All property is to be packed, shipped or transported at the risk and expense of the Purchaser. NICO AUCTIONS DOES PROVIDE IN-HOUSE SHIPPING. Invoices will be adjusted with shipping charges. Items are removed from the auction site after the last session ends and returned to our warehouse. PICK UP BY TRANSPORT COMPANIES OR INDIVIDUALS BY APPOINTMENT ONLY-PLEASE CALL.
These Conditions of Sale, as well as the Purchaser's and the Company's respective rights and obligations hereunder, shall be governed by and construed and enforced in accordance with the laws of the State of Delaware. By bidding at an auction, whether present in person or by agent, order bid, telephone, internet, or other means, the Purchaser shall be deemed to have consented to the exclusive jurisdiction of the state courts of, and the federal courts sitting in, the State of Delaware.
