AUCTIONEER AND AUCTION:
AUCTIONEER AND AUCTION:
Auction is presented by Capo Auction, Ltd. (“Capo” or “Auctioneer”). The
Auction is conducted under these Terms and Conditions of Auction and applicable
state and local law.
bids placed through Capo, a Buyer's Premium of twenty-three percent (23%) of
the hammer price will be added to the successful bid. A discount of three
percent (3%) will be applied to all payments by cash, check or money order if
received by Capo Auction within five (5) business days of sale for an effective
rate of twenty percent (20%).
On bids placed through LiveAuctioneers a Buyer’s Premium of twenty-five percent (25%) of the hammer price will be added to the successful bid. On bids placed through Invaluable a Buyer’s Premium of twenty-five percent (25%) of the hammer price will be added to the successful bid. There are no discounts for bids placed through these third-party services.
person participating or registering for the Auction ("Bidder(s)") agrees
to be bound by and accepts these Terms and Conditions of Auction.
Bidders must meet Auctioneer's qualifications to bid. Any Bidder who is not a
customer in good standing of the Auctioneer may be disqualified at Auctioneer's
sole option and will not be awarded lots. Such a determination may be made by
Auctioneer in its sole and unlimited discretion, at any time prior to, during, or
after the close of the Auction.
an entity places a bid, then the person executing the bid on behalf of the
entity agrees to personally guarantee payment for any successful bid.
reserves the right to exclude any person it deems in its sole opinion is
disruptive to the Auction or is otherwise commercially unsuitable.
who do not have established credit with the Auctioneer must either furnish satisfactory
credit information (including two antiques-related business references) well in
advance of the Auction or supply valid credit card information. Bids placed
through online auction sites will only be accepted from pre-registered Bidders;
Bidders should pre-register at least two business days before the first session
of the auction to allow adequate time to contact references and for approval of
of Bids: Non-Internet bids (including but not limited to podium, fax, phone and
mail bids) are treated similar to floor bids in that they must be on-increment
or at a half increment (“cut bid”). Any podium, fax, phone, or mail bids that
do not conform to a full or half increment will be rounded up or down to the
nearest full or half increment and will be considered the bidder’s high bid.
Execution of Certain Bids: Auctioneer cannot be responsible for your errors in
bidding, so carefully check that each bid is entered correctly. When identical
mail or FAX bids are submitted, preference is given to the first received. To
ensure the greatest accuracy, your written bids should be entered on the
standard printed bid sheet and be received at Auctioneer's place of business at
least two business days before the Auction start. Auctioneer is not responsible
for executing mail bids or FAX bids received on or after the day the first lot
is sold, nor Internet bids submitted after the published closing time; nor is Auctioneer
responsible for proper execution of bids submitted by telephone, mail, FAX,
e-mail, Internet, or in person once the Auction begins. The decision of the
Auctioneer and declaration of the winning Bidder is final.
CONDUCTING THE AUCTION:
of the consignor's liberty to place reserve bids on his lots in the Auction is
hereby made in accordance with the Uniform Commercial Code. A reserve is an
amount below which the lot will not sell. THE CONSIGNOR OF PROPERTY MAY PLACE
WRITTEN RESERVE BIDS ON HIS LOTS IN ADVANCE OF THE AUCTION; ON SUCH LOTS, IF
THE HAMMER PRICE DOES NOT MEET THE RESERVE, THE CONSIGNOR MAY PAY A REDUCED
COMMISSION ON THOSE LOTS.
highest qualified Bidder shall be the buyer. In the event of any dispute
between floor Bidders, Auctioneer may at his sole discretion reoffer the lot.
Auctioneer's decision shall be final and binding upon all Bidders.
reserves the right to refuse to honor any bid or to limit the amount of any bid
which, in his sole discretion, is not submitted in "Good Faith," or
is not supported by satisfactory credit, references, or otherwise. A bid is
considered not made in "Good Faith" when an insolvent or
irresponsible person, or a person under the age of eighteen makes it.
Auctioneer may at its sole discretion reject nominal bids, small opening bids
or very nominal advances. If a lot fails to open at a satisfactory bid in the
Auctioneer’s sole discretion, the Auctioneer may pass the item from the block
to be re-offered at a subsequent auction, or may place a protective bid on
behalf of the consignor.
items are to be purchased per lot as numerically indicated and no lots will be
broken. Auctioneer reserves the right to withdraw, prior to the close, any lots
from the Auction.
15. Bids will be accepted
in whole dollar amounts only. No "buy" or "unlimited" bids
will be accepted. Bidders will be awarded lots at approximately the increment
of the next highest bid. No additional commission is charged for executing bids.
reserves the right to rescind the sale in the event of nonpayment, breach of a
warranty, disputed ownership, auctioneer's clerical error or omission in
exercising bids and reserves, or otherwise.
Auctioneer or its affiliates may consign items to be sold in the Auction, and
may bid on those lots or any other lots. Auctioneer or affiliates expressly
reserve the right to modify any such reserve bids on these items or any others
at any time prior to the live auction or the online closing based upon data
made known to the Auctioneer or its affiliates. The Auctioneer may extend
advances, guarantees, or loans to certain consignors, and may extend financing
or other credits at varying rates to certain Bidders in the auction.
Auctioneer has the right to sell certain items after the close of the sale.
Items sold by Auctioneer post sale shall be considered sold during the auction
and all these Terms and Conditions shall apply to such sales including but not
limited to the payment of the buyer's premium, return rights and disclaimers.
19. All sales
are strictly for cash in United States dollars. Cash includes: U.S. currency,
bank wire, cashier checks, travelers checks, Credit Cards (Visa, MasterCard,
American Express, and Discover), and bank money orders, all subject to
reporting requirements. We reserve the right to retain all goods paid for by
check until the payment has been cleared. Credit cards will not be accepted for
any foreign transactions or total purchases equal to or greater than
is due upon closing of the Auction session, or upon presentment of an invoice.
Auctioneer reserves the right to void an invoice if payment in full of the
invoice is not received within 7 days after the close of the Auction.
delivered in the State of New York or other states where the Auction may be
held, are subject to all applicable state and local taxes, unless appropriate
permits are on file with us or presented prior to payment. Bidder agrees to pay
Auctioneer the actual amount of tax due in the event that sales tax is not
properly collected due to: 1) an expired, inaccurate, inappropriate tax
certificate or declaration, 2) an incorrect interpretation of the applicable statute,
3) or any other reason. Lots from different Auctions may not be aggregated for
sales tax purposes.
the event that a Bidder's payment is dishonored upon presentment(s), Bidder
shall pay the maximum statutory processing fee set by applicable state law.
23. If the Auction invoice(s)
submitted by Auctioneer is not paid in full when due, the unpaid balance will
bear interest at the highest rate permitted by law from the date of invoice
until paid. If the Auctioneer refers the invoice(s) to an attorney for
collection, the buyer agrees to pay attorney's fees, court costs, and other
collection costs incurred by Auctioneer. If Auctioneer assigns collection to
its in-house legal staff, such attorney's time expended on the matter shall be
compensated at a rate comparable to the hourly rate of independent attorneys.
the event a successful Bidder fails to pay all amounts due, Auctioneer reserves
the right to resell the merchandise, and such Bidder agrees to pay for the
reasonable costs of resale, including a 10% seller's commission, and also to
pay any difference between the resale price and the price of the previously
reserves the right to require payment in full in good funds before delivery of
the merchandise to the buyer.
shall have a lien against the merchandise purchased by the buyer to secure
payment of the Auction invoice. Auctioneer is further granted a lien and the
right to retain possession of any other property of the buyer then held by the
Auctioneer or its affiliates to secure payment of any Auction invoice or any other
amounts due the Auctioneer from the buyer. With respect to these lien rights,
Auctioneer shall have all the rights of a secured creditor under Article 9 of
the Uniform Commercial Code. In addition, with respect to payment of the
Auction invoice(s), the buyer waives any and all rights of offset he might
otherwise have against the Auctioneer and the consignor of the merchandise
included on the invoice.
a Bidder owes Auctioneer or its affiliates on any account, Auctioneer and its
affiliates shall have the right to offset such unpaid account by any credit
balance due Bidder, and it may secure by possessory lien any unpaid amount by
any of the Bidder's property in their possession.
shall not pass to the successful Bidder until all invoices are paid in full. It
is the responsibility of the buyer to provide adequate insurance coverage for
the items once they have been delivered.
SALES ARE FINAL AND ITEMS ARE PURCHASED AS IS.
PICK-UP, DELIVERY, SHIPPING AND
purchases must be picked up within five (5) business days. Items left
after this time will be placed in a storage facility and the buyer will be
charged accordingly. Property removed to offsite facility will be moved at
buyer’s risk and expense.
shipping charges will be borne by the successful Bidder. Due to the nature of
some items sold, it shall be the responsibility for the successful bidder to
arrange pick-up and shipping through third parties, as to such items Auctioneer
shall have no liability. Any risk of loss during shipment will be borne by the
buyer following Auctioneer's delivery to the designated common carrier,
regardless of domestic or foreign shipment. Any request for shipping
verification for undelivered packages must be made within 30 days of shipment
CATALOGING, WARRANTIES AND
WARRANTY, WHETHER EXPRESSED OR IMPLIED, IS MADE WITH RESPECT TO ANY DESCRIPTION
CONTAINED IN THIS AUCTION OR ANY SECOND OPINION. Any description of the items or
second opinion contained in this auction is for the sole purpose of identifying
the items for those Bidders who do not have the opportunity to view the lots
prior to bidding, and no description of items has been made part of the basis
of the bargain or has created any express warranty that the goods would conform
to any description made by Auctioneer. All listed measurements are approximate.
The term “sight size” is used herein in instances where the edges of the item
are obscured by a frame, matting, or other framing material.
is selling only such right or title to the items being sold as Auctioneer may
have by virtue of consignment agreements on the date of auction and disclaims
any warranty of title to the Property.
of foreign language documents are provided as a convenience to interested
parties. Capo makes no representation as to the accuracy of those translations
and will not be held responsible for errors in bidding arising from
inaccuracies in translation.
disclaims any warranty of merchantability or fitness for any particular
disclaims all liability for damages, consequential or otherwise, arising out of
or in connection with the sale of any property by Auctioneer to Bidder. No
third party may rely on any benefit of these Terms and Conditions and any
rights, if any, established hereunder are personal to the Bidder and may not be
assigned. Any statement made by the Auctioneer is an opinion and does not
constitute a warranty or representation. No employee of Auctioneer may alter
these Terms and Conditions, and, unless signed by a principal of Auctioneer,
any such alteration is null and void.
consideration of participation in the auction and the placing of a bid, a
Bidder expressly releases Auctioneer, its officers, directors and employees,
its affiliates, and its outside experts that provide second opinions from any
and all claims, cause of action, chose in action, whether at law or equity or
any arbitration or mediation rights existing under the rules of any
professional society or affiliation based upon the assigned grade or a
derivative theory, breach of warranty express or implied, representation or
other matter set forth within these Terms and Conditions of Auction or
otherwise, except as specifically declared herein; e.g., authenticity,
typographical error, etc., and as to those matters, the rights and privileges
conferred therein are strictly construed and is the exclusive remedy.
Purchaser, by non-compliance to its express terms of a granted remedy, shall
waive any claim against Auctioneer.
DISPUTE RESOLUTION AND
placing a bid or otherwise participating in the auction, such person or entity
accepts these Terms and Conditions of Auction, and specifically agrees to the
alternative dispute resolution provided herein. Arbitration replaces the right
to go to court, including the right to a jury trial.
in no event shall be responsible for consequential damages, incidental damages,
compensatory damages, or other damages arising from the auction of any lot.
Auctioneer's maximum liability shall not exceed the high bid on that lot, which
bid shall be deemed for all purposes the value of the lot. In the event that
Auctioneer cannot deliver the lot or subsequently it is established that the
lot lacks title, provenance, authenticity, or other transfer or condition issue
is claimed, Auctioneer's liability shall be limited to rescission of sale and
refund of purchase price. After one year has elapsed, Auctioneer's maximum
liability shall be limited to any commissions and fees Auctioneer earned on
and authenticity are not guaranteed by the Auctioneer. While every effort is
made to determine provenance and authenticity, it is up to the Bidder to arrive
at that conclusion prior to bidding.
41. If any
dispute arises regarding payment, authenticity, grading, description,
provenance, or any other matter pertaining to the Auction, the Bidder or a
participant in the Auction and/or the Auctioneer agree that the dispute shall be
submitted, if otherwise mutually unresolved, to binding arbitration in
accordance with the commercial rules of the American Arbitration Association
(A.A.A.). A.A.A. arbitration shall be conducted under the provisions of the Federal
Arbitration Act with locale in New York City, N.Y. Any claim made by a Bidder
has to be presented within one (1)
year or it is barred. The prevailing party may be awarded his reasonable
attorney's fees and costs. An award granted in arbitration is enforceable in
any court of competent jurisdiction. No claims of any kind (except for reasons
of authenticity) can be considered after the settlements have been made with
the consignors. Any dispute after the settlement date is strictly between the
Bidder and consignor without involvement or responsibility of the Auctioneer.
consideration of his participation in or application for the auction, a person
or entity (whether the successful Bidder, a Bidder, a purchaser and/or other
Auction participant or registrant) agrees that all disputes in any way relating
to, arising under, connected with, or incidental to these Terms and Conditions
and purchases or default in payment thereof shall be arbitrated pursuant to the
arbitration provision. In the event that any matter including actions to compel
arbitration, construe the agreement, actions in aid or arbitration or otherwise
needs to be litigated, such litigation shall be exclusively in the Courts of
the State of New York, in New York County, New York, and if necessary the
corresponding appellate courts. The successful Bidder, purchaser, or Auction
participant also expressly submits himself to the personal jurisdiction of the
State of New York.
between Bidders and consignors to effectuate a non-sale of an item at Auction,
inhibit bidding on a consigned item to enter into a private sale agreement for said item, or to utilize the Auctioneer's Auction to obtain sales for non-selling consigned
items subsequent to the auction, are strictly prohibited. If a subsequent sale
of a previously consigned item occurs in violation of this provision,
Auctioneer reserves the right to charge Bidder the applicable Buyer's Premium
and consignor a Seller's Commission as determined for each auction venue and by
the terms of the seller's agreement.