The Gallery Closing Sale, Part 2

The following Conditions of Sale is the entire agreement with the purchaser and any bidders for property being offered. This agreement may be amended from time to time or by posted notices or announcements made during the sale. By bidding at auction, you agree to be bound by these terms and conditions. 1. AS IS: All property is sold “AS IS” without any representations or warranties, express or implied, as to attribution, authenticity, merchantability, fitness for particular purpose. the correctness of the catalogue or other description of the physical condition. The description of any item that we offer for sale, only represents our opinion and is not a warranty. Any and all statements by us as to the authenticity, attribution, description, date, age, provenance, title, or condition of the work constitute our judgment and opinion only and should not be considered as any form of warranty. We do not accept any liability as a result of any changes in expert opinion by Collective Hudson or any third party which may take place prior to or subsequent to the sale. WE HAVE BEEN CONDUCTING BUSINESS FOR A VERY LONG TIME. WE HAVE ALMOST HALF A CENTURY OF EXPERIENCE AND THE WORKS ARE DESCRIBED AS BEST WE CAN AND GENERALLY ARE REVIEWED BY CREDENTIALED INDIVIDUALS WHO HAVE BEEN ADMITTED TO THE APPRAISERS ASSOCIATION OF AMERICA, INTERNATIONAL SOCIETY OF APPRAISERS, GIA, ETC. HOWEVER FOR EVERY EXPERT OPINON THERE WILL OFTEN BE SOMEONE WHO DISAGREES. EVEN WHEN A WORK IS PUBLISHED IN THE DETERMINATIVE “CATALOG RAISONNE”, IT IS LIKELY THAT LATER SOME NEW EXPERT WILL RAISE CONCERNS. THE MORE VALUABLE THE PIECE THE MORE LIKELY IT IS THAT SOME NEW EXPERT MAY PUT FORTH A NEW OPINION. SINCE WE DID NOT PHYSICALLY WITNESS THE MAKER CREATE THE ACTUAL WORK, ALL WORKS SOLD SHALL BE DEEMED AS “ATTRIBUTED’ Prospective bidders should inspect the property before bidding to determine its condition. All lots are available for inspection prior to the auction and for those who can, we recommend highly that you take advantage of the opportunity to view the items, in person.. As regards condition reports, we advise prospective bidders to examine the items and encourage them to contact us for more information, if required. The absence of a condition statement does not imply that the lot is in perfect condition or completely free from wear and tear, imperfections or the effects of aging. Condition statements, whether appearing in the catalogue, online, or at a person’s request, are based on a visual inspection and are for guidance only. Such condition statements should not be relied upon as statements of fact. and do not constitute a warranty, . 2. RESERVES: Some of the lots in this sale are offered subject to a reserve price, which is the confidential minimum price below which the lot will not be sold. A representative of the auction will execute such reserves by bidding on behalf of the consignor. 3. WITHDRAWAL:The auction gallery reserves the right in its sole discretion at any time before bidding commences to withdraw any item. 4. BUYER’S PREMIUM PROMOTION: We are a new gallery and to build up our mailing list we offer the following promotion of a reduced buyer’s premium of 20% only,. This reduced premium is only available to those who register directly with our auction gallery, sign up for our mailing list and leave their bids (“left bids”) directly with our gallery for execution by our staff. This buyers premium will be added to the hammer price and is payable by the purchaser as part of the total purchase price. STANDARD BUYER’S PREMIUM: A standard buyer’s premium for all other successful buyers and will be added to the hammer price and is payable by the purchaser as part of the total purchase price. The standard buyer’s premium is 25% of the hammer price 5. BIDDING: The highest bidder acknowledged by the auctioneer shall be the purchaser. The auction gallery reserves the right to reject any bid. The auctioneer shall advance the bid at his/her sole discretion. The auctioneer has absolute and sole discretion in the case of error or dispute and may re-open bidding, to cancel the sale or to re-offer and re-sell the item in dispute. If any dispute arises after the sale, our sale record is conclusive. In our discretion, we will execute order or absentee bids and may accept telephone bids, as a convenience to clients who are not present at auctions; we are not responsible for any errors or omissions as regards left or telephone bids. All bidders may be required to provide a government-issued identification confirming the bidder’s name and principal address of residence or business; in addition, bidders may also be required to provide an additional residential or business address and telephone number, credit card information, and other credit-related information. The auction gallery reserves the right to require a deposit prior to bidding. 6. LIVE ONLINE BIDDING We offer our clients the opportunity to bid online via Invaluable, Liveauctioneers or other online platforms for our sales. By participating in a sale via any of these online platforms, you acknowledge that you are bound by these Conditions of Sale as well as the additional terms and conditions for live online bidding. 7. FALL OF THE HAMMER Subject to fulfillment of all of the conditions set forth in these Conditions of Sale, on the fall of the auctioneer’s hammer, the contract between the consignor and the purchaser is concluded, and the winning bidder thereupon will immediately pay the total purchase price including premiums and taxes due. Title in a purchased lot will not pass until we have received in full payment of the total purchase price in cleared funds. Unless exempted by law, the purchaser will be required to pay applicable New York, or any applicable local sales tax, and any applicable compensating use tax of another state. 8. PAYMENT WE accept checks (personal or business check in US dollars certified by a US bank, a cashier’s/banker’s check drawn on a US bank or US money order), cash (US currency not to exceed $10,000 in a single or multiple related payments) or credit card (American Express, Visa or MasterCard) for payment. The purchaser’s obligation to pay immediately the full purchase price is absolute and unconditional and is not subject to any defenses, setoffs or counterclaims of any kind whatsoever. The gallery is not obligated to release a lot to the purchaser until title to the lot has passed. The purchaser agrees to pay a handling charge of $100.00 for any check dishonored by the drawee. 9. REMOVAL Property purchased from our gallery by a successful bidder will not be released to such bidder until the full payment of the total purchase price (including the buyer’s premium and online bidding service fee, and all applicable sales taxes) have been made. In addition to other remedies available to us by law, we reserve the right to impose from the date of sale a late charge of 1.5% per month of the total purchase price if payment is not made in accordance with these conditions. Please note that we reserve the right to refuse to accept payment form a source other than the buyer of record. The purchaser must remove all property from the auction premises at his/her expense promptly. If the property is not picked up within 10 days of the auction a charge for storage and handling charge of $20 per lot per day may be imposed. The auction gallery also reserves the right to send the property to a public warehouse for the account and at the risk and expense of the purchaser, to be released only after payment in full of all removal, storage, handling, insurance and any other costs incurred, together with payment of all other amounts due to us. It is the purchaser’s sole responsibility to arrange to collect or ship the property and to identify and obtain any necessary export or import permit for the lot. Stair and the consignor make no representations or warranties as to whether any lot is or is not subject to export or import restrictions or embargoes. 10. REMEDIES If the purchaser fails to fulfill or comply with any of the conditions herein, the purchaser shall be in default and, in addition to all legal remedies available to our gallery and the consignor by law, including, without limitation, the right to hold the purchaser liable for the total purchase price, including all fees, charges and expenses more fully set forth herein, Our gallery, at its option, may: a) cancel the sale of that, or any other lot or lots sold to the defaulting purchaser at the same auction or any other auction, and retain all payments made by the purchaser as liquidated damages; b) resell the purchased property whether at public auction or by private sale, for the account of the purchaser, in which case the purchaser shall be liable to us for all its costs and damages, including the commissions for both auctions; c) remove the property to a public warehouse for the account and at the risk and expense of the purchaser; d) charge interest at such rate as we shall reasonably select, or e) effect any combination thereof. In any case, the purchaser will be liable for any deficiency and any and all costs, handling charges, late charges, expenses of both sales, our commissions on both sales at our regular rates, legal fees and expenses, collection fees and incidental damages. Payment will not be deemed to have been made in full until we have collected good funds. In the event that purchaser fails to pay any or all of the total purchase price for any lot and Stair nonetheless elects to pay the consignor any portion of the sale proceeds, the purchaser acknowledges that collective hudson shall have all of the rights of the consignor to pursue the purchaser for any amounts paid to the consignor, whether at law, in equity, or under these conditions of sale. In addition, defaulting purchaser will be deemed to have granted and assigned to our gallery a continuing security interest of first priority in any property or money of or owing to such purchaser in our possession, custody or control, in each case whether at the time of the auction, the default or if acquired at any time thereafter, and we may retain and apply such property or money as collateral security for the obligations due to us. We shall have all the rights accorded a secured party under the New York Uniform Commercial Code. Purchaser hereby agrees that we may file financing statements under the New York Uniform Commercial Code without his/her signature. 11. LIMITATION OF LIABILITY In no event will our liability to a purchaser with respect to an item of property exceed the purchase price actually paid by such purchaser for such item. 12. NEW YORK LAW; JURISDICTION These Conditions of Sale as well as bidders’, the purchasers’ and our respective rights and obligations hereunder shall be governed by and construed and enforced in accordance with the laws of the State of New York. By bidding at an auction, whether present in person or by agent, order bid, telephone, online or other means, all bidders including 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 New York. 13. COPYRIGHT The copyright in all images, illustrations and written material produced by or for us relating to a lot, including the contents of this catalogue, is, and shall remain at all times, the property of our gallery and shall not be used by the buyer nor by anyone else, without our prior written consent. Collective Hudson reserves the right to reproduce any image of the lots sold in this sales catalogue.