Summer Signature Auction Session 1

The following Terms and Conditions of Sale are the Santa Fe Art Auction Limited Co.'s ("Santa Fe Art Auction") and its agents' and consignors' entire agreement with the prospective bidders, bidders and buyers relative to the lots listed in this catalogue. The lots will be offered by the Santa Fe Art Auction as agent for the consignors, unless the catalogue indicates otherwise. 1. The Santa Fe Art Auction operates as an agent of the seller only. It is not responsible in the event any buyer or seller at the auction fails to live up to their respective agreements, including failure of the seller to deliver any property to buyers. The Santa Fe Art Auction assumes no risk, liability, or responsibility beyond the limited warranty contained herein. (a) All property is sold "AS IS." There are no representations or warranties that extend beyond these Terms and Conditions of Sale. All works shall be available for examination prior to the sale. The Santa Fe Art Auction, and its agents and consignors, make no representations or warranties as to merchantability, fitness for a particular purpose, correctness of the catalogue or description, including, but not limited to, the authenticity, the physical condition, size, quality, rarity, importance, medium, provenance, dates, exhibitions, literary or historical relevance of any property, and, no statement anywhere, whether oral or written, whether made in the catalogue, an advertisement, a bill of sale, a salesroom posting or announcement, or elsewhere shall be deemed such a warranty, representation or assumption of liability. Nor are there any representations and warranties, express or implied, as to whether the purchaser acquires any copyrights, including, but not limited to, any reproduction rights in any property. Contents of this catalogue are subject to change or supplementation before or during the sale, including the sale of any lot. 2. Prospective bidders should inspect the lots before bidding to determine condition, size and whether or not the lot has been repaired or restored and to investigate all other matters relating to the lot that is of material importance to the prospective bidder. 3. A buyer's premium will be added to the successful bid price and is payable by the purchaser as part of the total purchase price. If paying by cash or check, the purchase price will be the sum of the final bid price plus a buyer's premium of 25% of the final bid price of each lot up to and including $1,000,000 and 15% of the excess of the final bid price above $1,000,000, plus any applicable sales tax, shipping and handling charges. The buyer's premium is calculated separately for each lot. If paying by credit card, the purchase price will be the sum of the final bid price plus a buyer's premium of 28% of the final bid price for each lot up to and including $1,000,000, and 18% of the excess of the final bid price above $1,000,000, plus any applicable sales tax, shipping and handling charges. 4. Unless exempted by law, the Buyer will be required to pay all applicable state and local sales, gross receipts, and compensation tax. Proof of exemption in the form of a current Non-Taxable Transaction Certificate must be provided at registration. In the event of deliveries outside the state, it is the Purchaser's responsibility to pay any applicable compensating use tax of another state on the total purchase price. • Why Santa Fe Art Auction Collects Sales Tax: New Mexico requires a seller of goods to register with the New Mexico Department of Taxation and Revenue and collect and remit sales tax if the seller maintains a presence within the state. More specifically, tax laws require an auction house, like Santa Fe Art Auction, with a presence in New Mexico, to register as a sales tax collector, and remit sales tax collected to the state. Unless exempted, New Mexico sales tax is charged on the hammer price, buyer's premium and any other applicable charges on any property picked up or delivered in New Mexico, regardless of the state or country in which the purchaser resides or does business. • Since the 2018 South Dakota v. Wayfair, Inc. ruling, most US states have implemented legislation requiring remote sellers to collect sales tax when the total dollar value of purchases sent to that state exceeds a set threshold, known as an economic nexus. Each state sets its own threshold or nexus. Like all other remote sellers, Santa Fe Art Auction is now required to collect Sales/Use Tax from buyers in any state when the total dollar value of purchases sent to that state creates a nexus. When this occurs, you will see sales tax included on your invoice. The sales tax rate is determined by the state, county, and city where purchases are shipped. As of June 1, 2022, SFAA has met the nexus in the following states: Arizona, California, Colorado, Florida, Illinois, Massachusetts, Missouri, New York, Oklahoma, Pennsylvania, Texas, Utah, Washington, Wyoming. However, any purchases made in person and/or picked up in person, are subject to applicable New Mexico sales tax instead. • Certain Exemptions: New Mexico allows for specified exemptions to its sales tax. For example, a registered re-seller such as a registered art dealer may purchase without incurring a tax liability, and Santa Fe Art Auction is not required to collect sales tax from such re-seller. As sales tax laws vary from state to state, Santa Fe Art Auction recommends that clients with questions regarding the application of sales or use taxes to property purchased at auction seek tax advice from their local tax advisors. 5. The Santa Fe Art Auction reserves the right to withdraw any lot before or during the sale and shall have no liability whatsoever for such withdrawal. 6. Except as may be announced by the auctioneer, all bids are per lot, as numbered in the catalogue. 7. The Santa Fe Art Auction reserves the right to reject any bid. The highest bidder acknowledged by the auctioneer will be the Buyer, subject to reserves. In the event of any dispute between bidders, or in the event of doubt as to the validity of any bid, the auctioneer will have the final discretion to determine the successful bidder, cancel the sale, or reoffer and resell the lot in dispute. If any dispute arises after the sale, the Santa Fe Art Auction's sale record shall be final and conclusive. The Santa Fe Art Auction, in its discretion, may execute orders or absentee bids as a convenience to clients who are not present at the auction; however, the Santa Fe Art Auction is not responsible for any errors or omissions in connection therewith. 8. If the auctioneer, in his or her discretion, determines that any bid is below the reserve of the lot, he or she may reject the same and withdraw the lot from sale, and, if having acknowledged an opening or other bid, the auctioneer decides that any advance thereafter is insufficient, he or she may reject the advance. 9. On the fall of the auctioneer's gavel, the highest bidder acknowledged by the auctioneer assumes full risk and responsibility for the offered lot, subject to all of the Terms and Conditions of Sale set forth herein, and is immediately obligated to pay the full purchase price. All sales are final and there shall be no exchanges or returns. Payment shall be made by cash, check or wire transfer. As set forth in paragraph 3, above, for an additional percentage Santa Fe Art Auction will also accept credit cards as a form of payment. (Visa and MasterCard only).