MODERN, ASIAN, & FINE ART AUCTION

Terms and Conditions

DUANE MERRILL & COMPANY
AUCTIONEERS & APPRAISERS
AUCTION TERMS AND CONDITIONS OF SALE

PAYMENT Cash or approved check with dealer I.D. which must be approved by the clerks. The clerks may require a current letter of credit from your bank. All purchases must be paid for in full before the removal of any item from the sales floor. We allow no charge accounts. Canadian funds will be accepted at our bank's current exchange rate. Bad checks will be prosecuted to fullest extent of the law. The auction house may at its discretion hold property until funds have cleared.

SALES TAX Unless exempt by law the purchaser will be required to pay VT state and local sales tax. Current rate is 7%. If you are a non-profit or dealer, please provide us with your UST ID paperwork.

BUYERS PREMIUMS:

* A buyer's premium of 26% applied to cash or approved check purchases will be added to the successful bid price and is payable by the purchaser as part of the total purchase price.


ALL GOODS ARE SOLD AS IS AND ALL SALES ARE FINAL WITH NO IMPLIED OR EXPRESSED WARRANTY It is the responsibility of prospective bidders to examine items and decide their level of interest. Neither the auctioneer, consignor, nor seller is responsible for the accuracy of any printed, written or verbal description. PLEASE ATTEND THE AUCTION PREVIEW AND EXAMINE THE ITEMS.

BUYER IS RESPONSIBILITY On the fall of the hammer or in the customary manner, title to the offered lot will pass to the highest bidder acknowledged by the auctioneer, subject to the conditions set forth herein, and such bidder there upon assumes full risk and responsibility for the article. Our employees will exercise caution in handling the goods but do so at the buyer's risk.

CONTESTED BIDS In the event of any dispute between bidders, or in the event of doubt on the part of us as to the validity of any bid, the auctioneer will have final discretion either to determine the successful bidder, or withdraw the lot, or to re-offer and resell the article in dispute.

UNRESERVED AUCTION This is a legal term to show that the items will be sold to the high bidder regardless of price, and that neither the owner nor auction house has set a reserve or minimum selling price.

Note: UNLESS THE ADVERTISEMENT OR TERMS STATE "UNRESERVED" THE AUCTION IS WITH RESERVE.

OPENING & NOMINAL BIDS Small bids made with the purpose of disparaging an item may be rejected by the auctioneer. The auctioneer reserves the right to reject an opening bid that, in his opinion, is not commensurate with the value of the lot. The lot will be passed.

POOLS are an association of dealers or collectors formed with the purpose of keeping down auction prices for the benefit of its members. They are illegal and under no circumstances will they be permitted. The auctioneer may at his discretion bid on behalf of the seller or elect to with-draw a lot if in his opinion a pool is operating.

FIREARMS SALES: ALL FIREARMS ARE SOLD IN ACCORDANCE TO ATF REGULATIONS

A VALID FFL (or C&R on valid firearms) will be required to ship firearms. Duane Merrill and Co are not responsible for failed background checks. Duane Merrill and Co are not responsible for local laws or firearms regulations outside of the State of Vermont. Please check your local laws to ensure you can possess specific firearms prior to bidding. Payment must be cleared prior to shipping. UNDER NO CONDITIONS WILL WE SHIP OR SELL FIREARMS OUTSIDE OF THE UNITED STATES.

Items may be withdrawn at any time prior to the offering of each lot. Any online item may be passed if it differs from given description or photograph.

THE RECORD OF SALE kept by the auction clerks will be taken as final in the event of any dispute.

ABSENTEE BIDS will be executed as a convenience to the customer, when possible. The auction house will not be held responsible for any errors or failures to execute bids. The bid will be executed competitively. A down payment may be required. We will notify the bidder if successful. The decision to accept an absentee bid will be left to our discretion. Payment is due upon notification of a successful bid. All payments must be made within one week of auction.

PACKING and SHIPPING may be arranged as a courtesy and at the buyers expense. MERRILL'S DO NOT SHIP IN HOUSE. Delivery to a third party unaffiliated shipper will be arranged after full payment has been received. Duane Merrill and Co cannot provide shipping estimates, nor are they responsible for shipping charges accrued by buyers. The auction house must receive cleared funds to release absentee purchased property. PLEASE NOTE NEW OR UNFAMILIAR BUYERS OF PRECIOUS METALS, JEWLERY or WATCHES MAY HAVE THEIR LOTS HELD FOR UP TO 31 DAYS TO ENSURE SAFE AND CLEAR PAYMENT.

ABSENTEE BIDDERS must give lot number and description of item, amount of bid, daytime phone number, complete address and tax number (if applicable). Bids will be accepted up to 1/2 hour before the start of the auction - And No Later.

PHONE BIDDING Phone bidding is executed as a convenience to the buyer. A minimum starting bid of $500.00 applies when a phone line is requested to bid on an item. A down payment and/or credit card may be requested prior to sale. Payment is due upon completion of sale. Packing & shipping arrangements may be arranged at the buyers expense.

EXCEPTIONS to these terms or conditions of sale will be announced at the start of the auction.

We take pride in our business and hope you enjoy our auctions. We look forward to serving you and thank you for your attendance.