Conditions of Sale
The property described in this catalogue, as amended by any posted notices or oral announcements during the sale, will be sold by Philips Auction House (Philips) as agent for various owners (the consignors). These Terms and Conditions of Sale and Advice to Prospective Bidders set forth elsewhere in the catalogue are the complete and only terms and conditions on which all property is offered for sale. By bidding at auction (whether present in person or by agent, by written or telephone bid, or by any other means) the buyer agrees to be bound by these Terms and Conditions of Sale.
1. The authenticity of property listed in this catalogue is not covered under warranty and is sold "as is." Neither Philips nor the Consignor makes any warranties or representations of any kind or nature with respect to the property or its value, and in no event shall they be responsible for correctness of description, genuineness, attribution, provenance, authenticity, authorship, completeness, condition of the property or estimate of value. No statement (written or implied) in the catalogue, at the sale, or elsewhere shall be deemed such a warranty or representation, or any assumption of responsibility.
2. All bids are to be per lot as numbered in the catalogue.
3. Neither Philips nor the Consignor makes any representation that the purchaser of manuscript material, photographs, prints, or works of art will acquire any copyright or reproduction rights thereto.
4. Philips reserves the right to (a) withdraw any property at any time before its actual final sale, including during the bidding, and (b) to refuse any bid from any bidder. The auctioneer is the sole judge as to the amount to be advanced by each succeeding bid.
5. Any right of the purchaser under this agreement or under the law shall not be assignable and shall be enforceable only by the original purchaser and not by any subsequent owner or any person who shall subsequently acquire any interest. No purchaser shall be entitled to any remedy, relief or damages of any kind.
6. The highest bidder acknowledged by the auctioneer shall be the purchaser. In the event of any dispute between bidders, the auctioneer shall have the absolute discretion either to determine the successful bidder or to re-offer and resell the lot in dispute. If any dispute arises after the sale, Philips sales records shall be conclusive as to the purchaser, amount of highest bid, and in all other respects.
7. The purchase price paid by a purchaser shall be the sum of the final bid and a buyer's premium of the final bid on each lot ("the Buyer's Premium"), plus all applicable sales tax. The Buyer's Premium is as follows: 18% for floor, absentee and telephone bids and 21% for online and internet bids.
8. On the fall of the auctioneer's hammer, title to the offered lot or article will pass to the highest acknowledged bidder, who thereupon (a) immediately assumes full risk and responsibility therefor, (b) will immediately sign a confirmation of the purchase therefor, setting forth his name and address, and (c) will immediately pay the full purchase price therefor. If the foregoing conditions or any other applicable conditions herein are not complied with in addition to other remedies available to Philips and the Consignor by law (including without limitation the right to hold the purchaser liable for the bid price), Philips, at its option, may either (a) cancel the sale, retaining as liquidated damages all payments made by the purchaser, or (b) resell the property, either publicly or privately, for the account and risk of the purchaser, and in such event the purchaser shall be liable for the payment of all deficiencies plus all costs, including warehousing, the expenses of both sales, and Philips commission at its regular rates and all other charges due hereunder. Philips may also impose a late charge of 1.5% for every week (or the highest rate allowed under applicable law, whichever is lower) on any amounts unpaid. After sixty (60) days, the unpaid for item is eligible to be re-auctioned or sold unless prior arrangements have been made.
9. All property shall be removed from Philips by the purchaser at his expense no later than thirty (30) days following its sale, and if not so removed may, at Philips option, be sent by Philips to a public warehouse at the account, risk and expense of the purchaser. Whether sent to a warehouse or stored by Philips, the purchaser shall be liable for all actual expenses incurred plus a storage charge of 5% of the purchase price.
10. All lots offered in this sale (Sale Number 12309) are the property of the owner of Philips Auction House, however, the auctioneer nor Philips' employees have direct or indirect interest in the items. Under no circumstances may Philips, its employees or affiliates bid upon or buy back property.
11. Except as may be otherwise expressly provided herein, any and all claims of a purchaser shall be deemed to be waived and without validity unless delivered in writing by registered mail return receipt requested to Philips within ten (10) days of the date of sale.
12. The rights and obligations of the parties shall be governed by the laws of the Commonwealth of Massachusetts. All bidders and the purchaser submit to the personal jurisdiction of the Commonwealth of Massachusetts and their rules and procedures in the event of any dispute.
13. No waiver or alteration of any of these Terms and Conditions, the Advice to Prospective Bidders, the estimates, or any other matter whatever (whether made by the auctioneer, Consignor or any representative of Philips) shall be effective unless it is in writing and signed by a representative of Philips.
ADVICE TO PROSPECTIVE BIDDERS
1. All property is sold subject to this advice and the Terms and Conditions printed in the catalogue.
2. Inspection of Property. Prospective bidders or their agents should inspect property prior to the auction. Philips staff are available to advise prospective bidders at all pre-sale exhibitions, by appointment and via written request.
3. Buyer's Premium. The purchase price payable on any lot purchased will be the total of the final bid plus the Buyer's Premium as defined in the Terms and Conditions, plus all applicable sales taxes.
4. Sales Tax. All items purchased are subject to payment of the Commonwealth of Massachusetts sales tax of 6.25% on the total purchase price (final bid plus the Buyer's Premium as defined in the Terms of Conditions) unless the purchaser presents proof of exemption therefrom. An exempt purchaser must provide a properly completed Commonwealth of Massachusetts Resale Certificate (Form ST-4) evidencing possession of a valid Commonwealth of Massachusetts Resale or, for non-Massachusetts businesses, the equivalent resale authorization from another locale. Purchases will not be released unless all sales tax requirements are satisfied.
5. Bidding Increments: $10 up to $100; then $25 to $500; $50 to $1,000; $100 to $3,000; $250 to $5,000; $500 to $10,000; $1,000 to $100,000; $2,500 to $200,000; $5,000 to $500,000; $10,000 to $1,000,000; and approximately 10% of the current bid thereafter. However, the auctioneer may modify the increments at any time.
6. Reserves. All lost are subject to a reserve, which is the confidential minimum price agreed to with the seller below which the lot will not be sold. Philips may implement such reserve by opening the bidding on behalf of the seller and may bid up to the amount of the reserve by placing successive or consecutive bids for a lot in response to other bidders.
7. Estimates. The estimates provided are intended as a guide to bidding. The figures are educated guesses, based on recent values. The estimates are exclusive of the buyer's premium, and may be revised at any time prior to the auction.
8. Bidding. All persons attending the auction must obtain a bidding number prior to bidding. If bids cannot be made in person or by an agent, they may be made by mail, fax, e-mail, telephone or online.
9. Absentee bids will be executed by Philips on the bidder's behalf in competition with other absentee bids and bidding in the room. Every effort will be made to carry out the bidder's instructions, but Philips shall in no event be responsible for failing correctly to carry out instructions, and Philips reserves the right to decline to undertake such bids. Bids by mail should be made in U.S. dollars on the bid sheet found at the end of the catalogue and in accordance with the instructions on the bid sheet.
10. Removal of Property. All lots purchased shall be removed at the purchaser's risk and expense within thirty (30) days following the sale. Purchases not so removed will be treated as set forth in the Terms and Conditions.
11. Shipment. Philips does not provide shipping. All shipping arrangements must be made by the purchaser after sale. A list of local shippers can be provided as purchaser's request.
12. Prices Realized. A list of prices realized is published on our website www.philipsauctionhouse.com at the conclusion of the sale. The Prices Realized is also available at Philips and will be mailed, emailed or faxed upon request.
13. Credit. Bidders whose credit is unknown to Philips should submit acceptable credit references or make prior arrangements for payment. Purchases will not be released until funds have cleared. Mail bidders should submit references or a deposit of 25% of their maximum bid. If successful, the deposit will be applied to the purchase; if unsuccessful, the deposit will be returned.
