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Conditions of Sale

Conditions of Sale

 

The property listed in this auction catalogue will be offered by Millea Bros. Ltd. (Millea Bros.) as owner or as agent for their consignor(s) subject to the following terms and conditions. Any of the following conditions of sale may be amended, waived, or modified in the sole discretion of Millea Bros. Ltd. By placing a bid, whether present in the saleroom or by any other means, the buyer (bidder, purchaser) agrees to be bound by the following conditions of sale:

1)       All property is sold in “as is” condition and all sales are final. Neither Millea Bros. nor their consignor(s) makes any representations or warranties, express or implied, with respect to the property or the correctness of the catalogue or other description of the authenticity of authorship, physical condition, size, age, quality, rarity, importance, provenance, exhibitions, literature or historical relevance of the property or otherwise.

2)       The highest bidder acknowledged by the auctioneer shall be the buyer. The auctioneer reserves the right to reject any bid and shall advance the bid at his/her sole discretion.

3)       Some lots offered for sale may be subject to a reserve, which is a confidential minimum price below which a lot will not be sold. Consignors are prohibited from bidding on their own property; however, the auctioneer may implement reserves by bidding on behalf of the consignor.

4)       Title of each lot passes upon the fall of the auctioneer’s hammer to the highest acknowledged bidder. Thereafter, any loss by fire, theft, breakage, or any other cause is the sole responsibility of the purchaser. Merchandise must be packed and transported by the purchaser at his/her own risk and expense. Under no circumstances will Millea Bros.’ liabilities to a purchaser exceed the purchase price actually paid.

5)       The purchase price of each lot shall be the amount of the successful bid plus a twenty-five percent (25%) buyer’s premium on the first $500,000 and a twenty-two percent (22%) buyer’s premium on the portion exceeding $500,000. A discount of 5% (effective 20% buyer’s premium) may be applied to invoices that are paid in full via cash, check or cash equivalent within 7 days of sale date, provided bidding is done through Millea Bros and not a third party bidding platform. Unless exempt by law, all purchases, including buyer’s premium, are subject to all state and local taxes applicable at the time of payment. Unless exempt by law, all purchases, including buyer’s premium, are subject to all state and local taxes applicable at the time of payment.

6)       All payments are due immediately upon receipt of invoice. Payments will be accepted by cash, bank transfer, or check. Non-US purchasers must make payment using a US-dollar denominated check. Credit card payments are also accepted, but only under the following conditions: 1) the invoice is less than $10,000; 2) the credit card is swiped and an original signed receipt can be obtained at the time of the transaction or payment is made directly via our online invoice. Property purchased during the auction may not be removed until the full purchase price, including buyer’s premium and all applicable taxes, have been paid. Millea Bros. reserves the right to hold merchandise purchased by personal check until the check has cleared the bank. The purchaser agrees to pay Millea Bros. a handling charge of $35 for any check returned for insufficient funds. A service charge of 1.5% will be added each month to unpaid balances beginning 30 days after the sale date. Any invoice not paid in full within thirty (30) days after the auction may be cancelled and the sale rescinded without further notice to the purchaser.

7)       The purchaser must pay for and remove all property from “the auction site” (Millea Bros. Auction Gallery, 607 Myrtle Avenue, Boonton, NJ 07005) at his/her risk and expense. Buyers are welcome to use a pack/ship professional of their choice or to collect their purchases in person at “the auction site” within seven (7) following the auction event. All purchases not removed from “the auction site” within that timeframe will be released to a third party storage and shipping company and moved to their warehouse facility without further notice to the buyer. The buyer will then coordinate all shipping, delivery and pickup arrangements with the Millea Bros’ third party storage facilty directly. Invoices must be paid in full to Millea Bros. before purchased property can be released or collected.