CONDITIONS OF SALE AND TERMS OF GUARANTEE
The following Conditions of Sale and Terms of Guarantee apply to all property offered for sale or at auction by RedUmbrella Fine Art or RedUmbrella Fine Art Auctions, Inc. This includes catalogued, non-catalogued, consigned or inventory property offered for sale or at auction. All property descriptions, whether listed in the catalogue or not, may be amended by us by the posting of an addendum, erratum, notice, or by oral announcements made during the auction or sale. All consigned property is offered by RedUmbrella Fine Art or RedUmbrella Fine Art Auctions, Inc. as an agent for the Consignor(s). By bidding, purchasing, or agreeing to purchase at auction or sale, you warrant that you are bound by these Conditions of Sale and Terms of Guarantee. All bids and agreements to purchase are contractual and intentional. Under no circumstances will any bids or agreements to purchase be recognized as accidental or unintentional.
A. All property is available for inspection. We recommend that everyone personally inspect any property before bidding on or agreeing to purchase it. Although reasonable efforts have been made to describe the property, it is the buyer’s responsibility to inspect the property prior to the auction or sale (see paragraph J). Unless specifically requested none of the property has been inspected by RedUmbrella Fine Art or RedUmbrella Fine Art Auctions, Inc. for a condition report, no assumption of condition is made or suggested by a description or the lack of description in the catalogue, addendum, online listing or verbal announcement.
B. A buyer’s premium will be added to the successful bid or sale price and is payable by the purchaser as part of the total purchase price. The buyer’s premium is 20% of the successful bid or sale price plus any third party fees.
C. Online, telephone and absentee bidders as well as bidders not known to RedUmbrella Fine Art or RedUmbrella Fine Art Auctions, Inc. are required to supply us with a valid MasterCard or Visa credit card (in their name) or a bank letter of credit prior to the auction. Bids may not be honored if such arrangements are not made before the auction. Bidders not known to RedUmbrella Fine Art or RedUmbrella Fine Art Auctions, Inc. who would like to pay with a business or personal check are required to supply us with a bank letter of credit prior to the auction. We will then hold the purchases until the check has cleared our bank. Credit cards are only accepted in person with valid photo identification unless otherwise agreed upon by RedUmbrella Fine Art or RedUmbrella Fine Art Auctions, Inc. Other approved electronic payments will be subject to processing fees.
D. Property is offered in lots for the auction. All bids are per lot as numbered in the catalogue unless otherwise announced by the auctioneer or listed as such on the catalogue’s addendum.
E. We reserve the right to withdraw any property from the auction or sale for any reason whatsoever and shall have no liability for doing so.
F. The auctioneer reserves the right to reject any bid for any reason whatsoever and shall have no liability for doing so. This includes, but is not limited to, opening bids below the reserve, insufficient advances or increments, or bids from a questionable bidder. The highest bidder acknowledged by the auctioneer will be the purchaser. In the event of any dispute between bidders, or if there is doubt on our part as to the validity of any bid, the auctioneer will determine who is the successful bidder. The auctioneer may cancel the sale or re-offer and resell the article in dispute. If any dispute arises after the sale, our sales record is conclusive. We are not responsible for any errors or omissions in connection with absentee, Internet or telephone bids.
G. If a lot is offered with a reserve the auctioneer may bid for the consignor up to the reserve. The auctioneer may open the bidding and or place consecutive bids on behalf of the consignor. In instances where the auctioneer may have an interest in the lot other than the commission, the auctioneer may bid up to the reserve to protect such interest. Any lot that is consigned to us without a reserve may be assigned a reserve, which in our judgment is appropriate.
H. Unless exempted by law the purchaser will be required to pay the combined California state and local sales tax, any applicable combination use tax of another state, and if applicable, any federal luxury or other tax, on the total purchase price. Out of state shipments must be made by a qualified carrier. Dealers new to us will be refunded the sales tax upon our verification of a valid California resale number issued specifically for the type of property purchased.
I. The authenticity of the Authorship (creator, period, culture, or source of origin, as the case may be, as set forth in the Bold Type Heading of a catalogue lot or as described on the Sales Agreement) ofproperty is guaranteed for 30 days from the sale date. If within 30 days the purchaser returns the property in the same condition as when purchased and gives us written proof from a recognized impartial expert which establishes beyond a reasonable doubt that the returned property is in fact a counterfeit or a forgery intended to deceive and that this was not indicated by a fair reading of the auction catalogue, sales agreement or auctioneer’s comments at the time of sale, then we and the consignor will rescind the sale and refund the purchase price. This is a non-assignable guarantee and applicable only to the receipt-bearing original purchaser. The guarantee does not apply to (a) property with a heading or description which includes the word or words “after”, “attributed”, “manner”, “style”, “school”, “circle”, “follower”, “collection”, “bearing”, “bears signature”, “complimentary signature”, “signed artist’s name” or “inscribed artist’s name” (b) property sold as or listed under the heading or section “Decorative Arts” or “Fine Decorative Arts”, (c) lots with a low estimate of $500. or less, (d) lots offered without an estimate, (e) property offered in a weekday auction.
J. Aside from authorship, all property is sold “AS IS” without any warranties or representations by us or the Consignor as to the exactness or correctness of the catalogue, index, addendum, oral statement, or online description of the medium, date, state, edition, size, quality, physical condition, rarity, reference, importance, value, provenance, exhibitions, estimate, literature or historical relevance of any property. No statement anywhere, whether oral or written or online, whether made in the catalogue, sales agreement, sales-room posting or announcement, an advertisement, or elsewhere, shall be deemed such a warranty, representation, or assumption of liability. We and the Consignor make no representations and warranties whatsoever as to whether the buyer acquires any copyrights or reproduction rights in any property. Neither we nor the Consignor are responsible for omissions or errors in the catalogue, online description, or any other material.
K. The successful bidder recognized by the auctioneer will take title (subject to fulfillment of all of the conditions of sale) to the offered lot on the fall of the auctioneer’s hammer, and (a) will assume full responsibility and risk thereof, and (b) will immediately pay the full purchase price or deposit as we may require. A late charge of 5 % per week of the total purchase price will be incurred by the purchaser ifpayment is not made within 7 days from the sale date. Seven days after the sale date (unless other agreed upon arrangements have been made and honored), we can (a) apply late charges and storage fees, (b) cancel the sale, (c) auction or privately resell the property and apply the net proceeds after our selling commissions and expenses to satisfy the unpaid balance, (d) sell any or all property the purchaser may have on consignment with us without minimum or reserve regardless of previously contracted terms, (e) forfeit the purchaser’s eligibility to complete the sale and apply any late charges and storage fees, (f) apply any partial payments to any late charges and storage fees, or (g) effect any combination thereof. Any legal expenses incurred by us to collect any or all of the payment due to us will be charged to the purchaser. All property must be removed from the premises by the purchaser at their expense no later than one week after the date of sale unless other specific arrangements are made with us or shipping arrangements have been requested. Any item held by us after seven days may be stored or sent to a storage facility, without liability on our behalf, for a charge of 5 % of the total purchase price per day or ten dollars per day, whichever is greater. If the storage charges accumulate to an amount equal to or greater than the purchase price we can then auction or privately resell the property or sell any or all property the purchaser may have on consignment with us without minimum or reserve regardless of previously contracted terms to satisfy the accumulated storage charges after our selling commissions and expenses.
L. These Conditions of Sale and Terms of Guarantee, as well as the buyer’s and seller’s respective rights and obligations hereunder, shall be governed by and construed and enforced in accordance with laws of the State of California. By bidding at an auction or agreeing to purchase, whether present in person or by agent, absentee bid, online, telephone or other means, the purchaser shall be deemed to have consented to the exclusive jurisdiction of the state courts of, and the federal courts sitting in, the State of California.
M. In-house packing is available for most items for an additional cost. United States Postal Service is currently not available for most in-house packing. We can be not responsible for the acts or omissions in our packing or shipping or those of other carriers or packers whether or not recommended by us. Packing and handling of purchased property is at the entire risk of the purchaser. Insurance is available upon request for most items. RedUmbrella Fine Art or RedUmbrella Fine Art Auctions, Inc. will not insure or make insurance claims for glass, damage from glass, or for non-recommended frames or from damage from thereof.
N. Under no circumstances and in no event will our liability to a purchaser exceed the purchase price actually paid.
GENERAL TERMS FOR CONSIGNMENT:
The consignor agrees to the preceding CONDITIONS OF SALE AND TERMS OF GUARANTEE. In particular, the consignor agrees to refund all moneys received if property is returned to RedUmbrella Fine Art or RedUmbrella Fine Art Auctions, Inc. under the provisions of article I. All individual lots, items or properties will be subject to the following commission rates on the hammer or sales price: $1.-$1000. @ 30%, $1001+ @ 20%. All lots, items or properties are subject to an insurance fee of 1 ½ % on the hammer or sales price and are covered under the conditions and terms of our Fine Arts Insurance policy up to the reserve price less our commission. Lots, items or properties sold out of auction shall be subject to the same commission and insurance rates as hammer price sales, and like hammer price sales they are also subject to a buyer’s premium which is the sole property of RedUmbrella Fine Art or RedUmbrella Fine Art Auctions, Inc. A non-refundable $12. to $15 illustration fee will be charged per item per lot per auction. Unless otherwise noted the reserve or the minimum selling price shall be seventy-five percent of the consigned low estimate on lots with a low estimate over five hundred dollars. Lots consigned with a low estimate of five hundred dollars or less will be sold without reserve. The estimate in the catalogue may differ from the consigned estimate and does not affect the terms of this agreement. Unless otherwise indicated, unsold lots with a reserve may be re-offered at a second auction with a reserve of fifty percent of the consigned low estimate and without reserve at a third auction.
Unless otherwise stated all property is consigned for a minimum term of three auctions from date of this agreement plus fourteen calendar days. RedUmbrella Fine Art or RedUmbrella Fine Art Auctions, Inc. reserves the right to return all or part of the consigned property for any reason whatsoever prior to the term of this agreement. The consignor and/or their representatives or agents agree to fully reimburse RedUmbrella Fine Art or RedUmbrella Fine Art Auctions, Inc. for all commissions, premiums, insurance, and expenses that were estimated to be received by RedUmbrella Fine Art or RedUmbrella Fine Art Auctions, Inc. for the sale or offering of any property that is withdrawn by the consignor and/or their representatives or agents prior to the term of agreement. In addition the consignor and/or their representatives or agents agree to fully reimburse RedUmbrella Fine Art or RedUmbrella Fine Art Auctions, Inc. for all legal fees or arbitration fees incurred in procuring any money due RedUmbrella Fine Art or RedUmbrella Fine Art Auctions, Inc. for property withdrawn prior to the term of this agreement. RedUmbrella Fine Art or RedUmbrella Fine Art Auctions, Inc. reserves the right to pursue non-complying bidders for payment or legal recourse.
RedUmbrella Fine Art or RedUmbrella Fine Art Auctions, Inc. may use their professional discretion to determine if a lot needs to be framed, shrink-wrapped, restored, or placed in a sleeve* before being offered for sale, such costs shall be billed to the consignor or deducted from the hammer or sales price in addition to any commissions, insurance fees, or illustration fees. *Each individual sleeve is $10. up to size 30” x 40”, or $12. for a 32” x 43”, or $20. for a 40” x 50”, or $25. for a 40” x 60”. Although a reasonable effort is maintained, RedUmbrella Fine Art or RedUmbrella Fine Art Auctions, Inc. is not responsible for the normal wear and tear associated with the handling and care of items offered for sale at public auction. The consignor and/or their representatives or agents fully warrant that all consigned properties are free and clear of all liens, encumbrances or claims of third parties of every kind or nature whatsoever, and that RedUmbrella Fine Art or RedUmbrella Fine Art Auctions, Inc. shall not be held responsible in any way for any disputed consigned property in perpetuity. Furthermore the consignor and their representatives or agents agree to fully reimburse RedUmbrella Fine Art or RedUmbrella Fine Art Auctions, Inc. for all commissions, premiums, insurance, expenses and legal fees or arbitration fees that may arise from any disputed consigned property. Unsold property that has not been picked up within 3 days after the term of this agreement or upon our request will be subject to a daily storage charge of 5% of the low estimate or ten dollars per day, whichever is greater, unless other agreed upon written arrangements have been made. Delivery, shipping, packaging and related insurance expenses are the responsibility of the consignor. RedUmbrella Fine Art or RedUmbrella Fine Art Auctions, Inc. accepts no responsibilities for the packing or shipping of received or returned consignments. The consignor may be charged for any drayage expenses incurred. Any legal expenses incurred by us to collect any or all of any payment due to us will be charged to the consignor.