Terms and Conditions of Sale
“Helping our Customers to save Time in Their Investing and Collecting Journey”
Conditions of sales apply when read or not.
As required by law, all customers who wish to pay more than $10,000 in cash must fill out an IRS 8300 form. Cash is defined as all currency, a cashier’s check, money order, bank draft, or traveler’s check having a face amount of $10,000 or more.
A 15% buyer’s premium will be added. The sales tax will be charged on the total of the bid price and the 15% buyers’ premium. All goods are sold “final sale as is” at the time of sale subject to all faults and defects whether or not any inspection is made by or on behalf of the purchaser. All lots are subject to a reserve and /or minimum bid. The consignor has the right to withdraw, divide or consolidate any lot and refuse any bid in accordance with uniform commercial code.
- All Lots are paid in full at the conclusion of the auction and any exceptions thereof are at the sole discretion of the auctioneer.
- In the event of a default in payment or otherwise, a purchaser shall be responsible for all costs of collection including reasonable attorney fees.
- Interest will be assessed at a rate of 24% (twenty-four percent) per annum on any and all outstanding sums due pursuant to this agreement from the due date until paid.
- If the purchase price is not paid, or the items are not removed from the place of auction, the auctioneer, at his sole exclusive discretion, has the right to remove said items from the premises to storage and/or to cancel the sale and /or seek any and all legal remedies against the Purchaser including monetary damages for the purchase price. The auctioneer retains the right, upon the bidder refusing to accept the goods, to resell the goods at a reasonable price where the bidder will be liable for the difference between the resale price and the original price excepted by the bidder. Additionally, the bidder shall be liable for all costs of such subsequent sale including warehousing and auctioneer’s commissions.
- IRS Form 8300 must be completed and filed for all customers who wish to pay more than $10,000 in cash.
- Cash is defined as all currency, a cashier’s check, money order, bank draft, or travelers check having a face amount of $10,000 or more.
- All payment and financial invoice information will be kept confidential. A copy of sales tax exemption certificates must be submitted and a sales tax exemption form must be filled out at registration to be sales tax exempt.
- Invoices are subject to audit for errors and bidder is responsible for paying any balance due therein. If there exists a deficiency in sales taxes due to incorrect sales tax exemption information or if there is a balance due for other reasons, the customer grants permission to charge balance on credit card.
Appraisals provide a description of each item offered and submit a retail replacement value to the item for insurance purposes. We do not recommend you base your decision to buy an item based on the appraisal value. Please be informed that the appraisals have been prepared by independent appraisers, and the retail value may be very high or very low and there may be variation in the grading of the jewels. However, due to the subjective nature of the grading and the appraising process, the auctioneer does not assume any liability for the appraisal certificates.
Warranty & Appraisal
- While descriptions are believed to be accurate, all statements or representations on such matters, whether printed in a catalog or made orally, are statements of opinion only and are not a representation of facts.
- The auctioneer disclaims all warranties, express or implied, including fitness for a particular purpose and merchantability as to any items purchased.
- The auctioneer specifically makes no warranty or representation as to the value of any particular item.
- The auctioneer disclaims for itself and for the vendor and/or the consignor, any and all responsibility for authenticity, age, origin, condition, size, weight, quality or kind. Purchasers are deemed to have satisfied themselves on authenticity, condition, etc. before bidding.
- No one in the auctioneers employ has the authority to make any representation of fact whatsoever.
- The terms of this warranty may only be varied in writing.
- No oral warranties or representation may modify this disclaimer.
- While in the course of the auction the auctioneer may make statements about the goods subject to auction, such statements do not constitute warranties, shall not be relied up by the buyer, and are not part of these terms and conditions of sale.
- Any dispute arising under or in connection with this agreement shall be resolved by private, binding arbitration administered by JAMS, pursuant to the Virginia Uniform Arbitration Act.
- A hearing before a single arbitrator shall be held in the corresponding County where the auction was held. The results of the arbitration shall be and remain confidential and unpublished.
- A violation of confidentiality shall result in the forfeiture and return of any consideration received from the arbitration, as liquidated damages and not as a penalty.
I hereby consent to being recorded and/or photographed.
Note: Other terms and conditions including terms and conditions on jewelry certificates may be presented prior to the auction. Terms and conditions herein will combine to be binding on the purchaser.
Do You Want To Know More?
We know you would like to know more about our business, here is a list of topics you might want to know more.
- Auction glossary
- Buying and Selling
- Pick up and Deivery
- Conditions of Sale
Our Different Types of Merchandise
Our company sells a variety of different pieces ranging from fine art, fine jewelry and gems, coins, fine prints, luxury cars and homes, antiques and reproductions, and much more.