Discovery Spring Auction, Jewelry, Designer

Terms

Terms & Conditions of Sale:

Clients must review and agree to the Conditions of Sale before participating in an auction.


Discovery Antiques & Jewelry AS AGENT

The lots listed in this catalogue will be offered by Discovery Antiques & Jewelry(a division Treasured Archives LLC.) (hereinafter ?DA&J) as owner or as agent for consignor(s) subject to the following terms and conditions. By bidding at auction you agree to be bound by these Conditions of Sale.

BEFORE THE SALE

Prospective buyers are strongly advised to personally examine any property in which they are interested before the auction takes place. Condition reports are usually available on request on lots with a low estimate of $300 and over. All lots are sold AS-IS and without recourse and neither DA&J nor its consignor(s) makes any warranties or representations, express or implied with respect to such lots. Neither DA&J nor its consignor(s) makes any express or implied warranty or representation of any kind or nature with respect to merchantability, fitness for purpose, correctness of the catalogue or other description of the physical condition, size, quality, rarity, importance, medium, material, genuineness, attribution, provenance, period, culture, source, origin, exhibitions, literature or historical significance of any lot sold. The absence of any reference to the condition of a lot does not imply that the lot is in perfect condition or completely free from wear and tear, imperfections or the effects of aging. No statement, whether written or oral, and whether made in the catalogue, or in supplements to the catalogue, an advertisement, a bill of sale, a salesroom posting or announcement, or otherwise, shall be deemed to create any warranty, representation or assumption of liability. DA&J and its consignor(s) make no warranty or representation, express or implied, that the purchaser will acquire any copyright or reproduction rights to any lot sold. DA&J expressly reserves the right to reproduce any image of the lots sold in this catalogue.

AT THE SALE

Refusal of Admission - DA&J has the right, in its sole discretion, to refuse admission to the premises or participation in any auction and to reject any bid.

Registration before Bidding - A prospective buyer must complete and sign a registration form and provide identification before bidding. DA&J may require bank or other financial references.

Bidding as Principal - When making a bid, a bidder is accepting personal liability to pay the purchase price, including the buyer's premium, all applicable taxes and all other applicable charges, unless it has been explicitly agreed upon in writing with DA&J before the commencement of the sale that the bidder is acting as agent on behalf of an identified third party acceptable to DA&J, and that DA&J will only look to the principal for payment.

Online Bids - DA&J will use reasonable efforts to carry out online bids and does not accept liability for equipment failure, inability to access the internet or software malfunctions related to the execution of online bids.

Reserves - Some lots in the sale are subject to a reserve which is the confidential minimum price below which such lot will not be sold. The reserve will not exceed the low estimate of the lot. Reserves are agreed upon with consignors or, in the absence thereof, determined at the absolute discretion of DA&J.

DA&J?s Discretion - DA&J has the right at its absolute and sole discretion to refuse any bid, to advance the bidding in such a manner as it may decide, to withdraw any lot, and in the case of error or dispute, and whether during or after the sale, to determine the successful bidder, to continue the bidding, to cancel the sale or to reoffer and resell the item in dispute. If any dispute arises after the sale, DA&J?s sale record is conclusive.

Successful Bid - The highest bidder acknowledged by DA&J will be the purchaser. In the case of a tie bid, the winning bidder will determined by DA&J at its sole discretion. In the event of a dispute between bidders, DA&J has final discretion to determine the successful bidder or to re-offer the lot in dispute. If any dispute arises after the sale, the DA&J sale record shall be conclusive. Title passes upon the fall of DA&J's hammer to the highest acknowledged bidder subject to the Conditions of Sale set forth herein, and the bidder assumes full risk and responsibility.

HAMMER PRICE / BUYER'S PREMIUM

In addition to the hammer price, the buyer agrees to pay DA&J a buyer's premium and the applicable sales tax added to the final total.

DA&J's premium structure for DA&J auction customers is: twenty five percent (25%) of the successful hammer price on each lot sold for up to and including $50,000.99, twenty percent (20%) between $50,001 and up to and including $250,000.99 and eighteen percent (18%) of the amount $250,001 and over.

Payment - The buyer must pay the entire amount due (including the hammer price, buyer's premium, all applicable taxes and other charges) no later than 5 p.m. on the seventh (7) business day following the sale. Payment in U.S. dollars may be made with cash (not to exceed $10,000, and subject to other limitations which may be imposed by DA&J in its sole discretion); by wire, bank check, personal check or cashier's check drawn on a U.S. bank unless other arrangements are made with DA&J. DA&J reserves the right to hold merchandise purchased by personal check until the check has cleared the bank. The purchaser agrees to pay DA&J a handling charge of $50 for any check dishonored by the drawee.

Tax Exempt Notice - Lots marked with an asterisk (*) or square are tax exempt as permitted by law.

Collecting Purchases - Once DA&J has received all funds due to DA&J, the buyer shall collect purchased lots within ten (10) business days from the date of the sale or cleared payment.

Packing and Shipping - Winning bidders must arrange shipping through a shipper of their choosing. A list of recommended shippers will be provided on the winning bidder invoice.

Non Payment - If DA&J does not receive payment in full, in good cleared funds, within seven (7) business days following the sale, DA&J is entitled in its absolute discretion to exercise one or more of the following measures, in addition to any additional actions available to us by law: a.) to impose a late charge of one and a half percent (1.5%) per thirty (30) days of the total purchase price; b.) to hold the defaulting buyer liable for the total amount due and to begin legal proceedings for its recovery together with interest, legal fees and costs to the fullest extent permitted under applicable law; c.) to cancel the sale; d.) to resell the property publicly or privately under such terms as DA&J finds appropriate, to resell the property at public auction without reserve, and with the purchaser liable for any deficiency, cost, including handling charges, the expenses of both sales, DA&J?s commission on both sales at DA&J?s regular rate, all other charges due hereunder and incidental damages. In addition, a defaulting purchaser will be deemed to have granted DA&J a security interest in, and DA&J may retain as collateral security for such purchaser's obligations to DA&J, any property in DA&J?s possession owned by such purchaser. At our option, payment will not be deemed to have been made in full until DA&J has collected funds represented by checks, or in the case of bank or cashier's checks, DA&J has confirmed their authenticity; e.) to not allow any bids at any upcoming auction by or on behalf of the buyer; g.) to take other action as DA&J finds necessary or appropriate.

Failure to Collect Purchases - If property is not picked up within ten (10) business days following the sale, whether or not payment has been made, DA&J reserves the right to charge $5 per lot per day or to deliver said property to a public warehouse for storage at the purchaser's expense. DA&J shall have no liability for any damage to property left on its premises for more than ten (10) business days following the sale. In addition, DA&J reserves the right to impose a late charge of one and a half percent (1.5%) per month of the total purchase price if payment is not made in accordance with the conditions set forth herein. For property that is not picked up after thirty (30) calendar days, an additional administration fee of $75 will be charged. Property which is paid for but left on DA&J?s premises for any reason in excess of sixty (60) calendar days is subject to sale by us with the balance of any funds recovered in excess of storage charges and any other fees being remitted to you.

LIABILITY

Condition Reports - DA&J is not responsible for the correctness of any statement of any kind concerning any lot, whether written or oral, nor for any other errors or omissions in description or for any faults or defects in any lot. Neither the seller, DA&J, nor seller or DA&J?s officers, employees or agents, give any representation, warranty or guarantee or assume any liability of any kind with respect to any lot with regard to merchantability, fitness for a particular purpose, description, size, quality, condition, attribution, authenticity, rarity, importance, medium, provenance, exhibition history, literature or historical relevance. Any warranty of any kind whatsoever is excluded to the fullest extent permitted by law.

Purchased Lots - If for any reason a purchased lot cannot be delivered in the same condition as at the time of sale, or should any purchased lot be stolen, mis-delivered or lost prior to delivery, DA&J shall not be liable for any amount in excess of that paid by the purchaser.

Legal Ramifications - The rights and obligations of the parties with respect to these Conditions of Sale, the conduct of the DA&J auction and any matters connected with any of the foregoing shall be governed and interpreted by the laws of the jurisdiction in New Jersey. If any part of these Conditions of Sale is found by any court to be invalid, illegal or unenforceable, that part shall be discounted and the rest of the conditions shall continue to be valid to the fullest extent permitted by law.

Discretion - Any and all of the conditions may be waived or modified at the sole discretion of DA&J at any time.