Polished Past

The following Terms and Conditions of Sale are the Magnolia Auction LDT Company ('Auction House?) and its agents' and consignor's entire agreement with the prospective bidders, bidders and buyers for lots offered in the Magnolia Auction Co?s Auctions. The lots will be offered by the Magnolia Auction Co as agent for the consignors, unless otherwise indicated. All participants of the auction must register in order to participate. Registration by the prospective bidder, bidder or buyer shall constitute approval and acceptance of the following Terms and Conditions of Sale. These Terms and Conditions of Sale may be amended at any time by posted notice. Note: BUYER's PREMIUM OF UP TO 18% which DOES NOT include Liveauctioneers 5% buyer's premium DETAILED IN ITEM 5. Online Bidding An online bidding service will be available through LiveAuctioneers.com. Please visit liveauctioneers.com for additional terms and conditions in addition to those stated here. Note these online services includes an additional buyer's premium other than that outlined in Item 6 below. The Gallery assumes no liability for errors or omissions or failure to execute a bid for any reason associated with internet bids. Auction

1. Magnolia Auction Co assumes no risk, liability or responsibility beyond the limited warranty contained herein.

2. The Auction House reserves the right to withdraw any property at any time before the auction and shall have no liability as a result of such withdraw.

3. All property is sold 'AS IS'. Neither the Auction House nor its consignors make any express or implied warranties or representations with respect to the property or correctness of the advertisement, catalog, condition report or any other medium describing the physical attributes or authenticity of the property. Prospective bidders should inspect the lots before bidding to determine the authenticity, condition, size, restorations, and any other matters of material importance to the prospective bidder relating to the lot.

4. The Auction House will refund the full purchase price of a lot to the buyer questioning the authenticity of such lot in the event the buyer provides to the Auction House, within 14 days of the date of the auction, a written notice that the lot is not authentic, a written opinion by a recognized authority on the artist, and returns the property to the Auction House within five (5) calendar days of such written notice in the same condition as when sold. The Gallery reserves the right to ascertain whether or not the authority used by the buyer is a recognized authority on the artist.

5. The Auction House and/or auctioneer reserve the right to reject any bids. All bids are per lot as numbered in the catalog, unless otherwise announced. The highest bidder acknowledged by the auctioneer shall be the buyer ("Buyer") subject to reserves. In the event of any dispute between bidders or a tie between bidders, the auctioneer will have absolute and final discretion to identify a Buyer or re-offer the lot for sale. Title to the lot passes to the Buyer upon the fall of the auctioneer's hammer and the announcement by the auctioneer that the lot has been sold, subject to compliance by the Buyer with all other Terms & Conditions of Sale.

6. BUYER'S PREMIUM. The Buyer of each lot shall be required to pay the purchase price for each lot defined as the sum of the final bid price (hammer price) plus a buyer's premium plus any applicable sales tax. The buyer's premium is 18% of the final bid price (hammer price) of each lot for the first $50,000. The buyer's premium is calculated separately for each lot. Buyers bidding through an online bidding platform will experience an additional buyer's premium. Please consult their prospective websites for details.

7. Unless exempt by law, the Buyer will be required to pay any and all applicable South Carolina sales taxes. Proof of exemption in the form of a current Non-Taxable Transaction Certificate must be provided at registration. It is the Buyer's responsibility to pay any use tax of another state in the event the artwork purchased is shipped out of the state of South Carolina for use in that state. It is the Buyer's responsibility to pay any import tax or value added tax in the event the artwork purchased is shipped out of the country for use in that country.

8. Terms of all purchases will be LiveAuctioneers LivePayments, wire transfer, or credit card (American Express, MasterCard or Visa). Credit cards will only be accepted for purchases up to $25,000 USD per customer per sale. Buyers will be invoiced and shall pay for their purchases within five (5) days of the date of the auction. Contact the Auction House to obtain wire transfer instructions prior to the sale. The Buyer of a lot is responsible for the full purchase price. If payment is not completed in full the Auction House has the right to hold the Buyer liable for the total amount due and begin legal proceedings, cancel the sale, or resell the property publicly or privately. If this results in less than the full payment, the Buyer will be responsible for the difference.

9. Auction lots may not be removed from the Auction House the day of the auction. Invoices will be emailed to successful bidders the day after the auction. No lot may be removed from the Auction House until the Buyer has paid in full the purchase price as defined in Item 6. Subject to the foregoing and Item 7, all lots must be removed from the Auction House within fourteen (14) days of the date of the auction. The Auction House is not responsible for the shipment or delivery of purchased lots. The Gallery assumes no liabilities resulting from the use of these companies services. Items not removed from the gallery within fourteen (14) days of the date of the auction may be subject to a storage charge.

10. Some lots may be offered subject to a reserve or confidential minimum price below which the lot will not be sold. In such instances the Auctioneer will exercise the reserve by bidding on behalf of the Consignor. The auctioneer may open bidding on any lot below the reserve by placing a bid on behalf of the Consignor up to the amount of the reserve, either by placing consecutive bids or by placing bids in response to other bidders. In no event shall the reserve exceed the low estimate listed in the catalog. The Auction House, at its discretion and as a disinterested party, may execute orders or absentee bids as a courtesy to clients who are not present at the auction. The Auction House reserves the right to purchase property on its own behalf or on behalf of another party.

11. The Auction House makes no representations whatsoever that the Buyer of a work of art will acquire any reproduction rights thereto.

12. These Terms and Conditions of Sale and procedures of auction as well as the Buyer's and Auction House?s rights and obligations herein shall be governed by, construed and enforced in accordance with the laws of the State of South Carolina.