Conditions Of Auction Sale
Scudder's Gallery as agent for various owners or other consignors (sellers) sets forth below these CONDITIONS OF SALE, and the LIMITED WARRANTY and ABSENCE OF OTHER WARRANTIES. Scudder's Gallery reserves the right to vary the terms of sale. By bidding or by written bid, telephone or other means, the buyer agrees to be bound by these Conditions Of Sale.
1. The term "the final bid" means the highest bid acknowledged by the auctioneer, and the term "the purchase price" means the sum of the final bid.
2. The highest bidder acknowledged by the auctioneer shall be the buyer. The auctioneer has the right to reject any bid, to advance the bidding at his absolute direction and in the event of any dispute between bidders, to determine the successful bidder or to re-offer and recall the lot in dispute. Should there be any dispute after the sale, Scudder's Gallery record of final sale shall be conclusive.
3. Scudder's Gallery reserves the right to withdraw any lot before or at the sale.
4. The purchase price payable by a buyer shall be the sum of the final bid, plus buyer's premium, if any, and sales tax.
5. Scudder's Gallery shall act to protect the seller's reserve as agent of the seller by bidding through the auctioneer. The auctioneer may open bidding on any lot below the reserve by placing a bid on behalf of the seller. The auctioneer may continue to bid on behalf of the seller up to the amount of reserve, either by placing consecutive bids or by placing bids in response to other bidders.
6. Title to the offered lot shall pass to the buyer upon the fall of the auctioneer's hammer when the auctioneer announces that the lot has been sold, and such buyer shall forthwith assume full risk and responsibility for the lot, and may be required to (I) sign a confirmation of purchase, (II) supply his name and address, and (III) pay the full purchase price or such part thereof as Scudder's Gallery, in it's sole discretion, shall require.
7. No lot may be removed from Scudder's premises until the purchase price thereof has first been paid in full or upon satisfaction of terms that Scudder's Gallery shall require. All lots are to be paid for and removed from Scudder's premises at the buyer's expense no later than 4:30 PM of the third business day following the sale. The buyer of any lot which remains on Scudder's premises later than 4:30 PM of the third business day following the sale will incur a charge for storage and handling of $5.00 per day for each lot. Buyers will be charged a late charge of 1.5% per month on the total purchase price if payment in full is not received by Scudder's Gallery in accordance with these Conditions Of Sale.
8. All shipping and packing will be at buyer's expense.