Payment Terms: Payment must be made within seven (7) business days following the auction. Payment may be made by wire transfer, check, cashier's check, money order, Visa, Mastercard, and Discover. Buyers paying by credit card must sign and date the "Auction Terms and Conditions Credit Card Authorization Form" and submit same to Palm Beach Modern Auctions. Buyer consents to the completion of buyer's credit card transaction without buyer's signature. Checks should be made payable to "Palm Beach Modern Auctions." Note to international bidders: International bidders must pay by wire transfer; we will accept no other form of payment other than wire transfer. If a buyer fails to make timely payment as required in this paragraph, we shall be entitled, in our discretion, to exercise any remedies legally available to us, including, but not limited to, the following:
(a) cancellation of the sale of the property to the non-paying buyer, including the sale of any other property to the same buyer; (b) reselling the property at public or private sale, with or without reserve; (c) retention of any amounts already paid by the buyer as liquidated damages; (d) rejection of any bids by the buyer at future auctions; (e) setting off any amounts owed by us to the buyer in satisfaction of unpaid amounts; and (f) taking of any other action we deem necessary or appropriate under the circumstances.
Shipping/Pick-up/Storage: Shipping/Pick-up/Storage: We will assist customers in obtaining shipping quotes and with the shipping process after the auction is completed. If you would like to obtain a shipping quote prior to the auction, please contact us by phone or email for a list of shippers, or contact your own shipper (we do not pack or ship items for insurance reasons, and any shipping list provided is only provided as a service to our clients; we do not endorse any of these shipping companies). We will not obtain shipping estimates prior to the auction, but we highly recommend that bidders obtain shipping quotes prior to bidding.
Final arrangements regarding shipping, and costs associated with shipping are the responsibility of the buyer. Shipping is a contract between the buyer and the shipper. Palm Beach Modern Auctions is not a party to the shipping contract.
No items will be released for shipping until payment is received in full. All checks must clear before a lot will be released to a shipper.
Items that are paid for in full may be picked up at our exhibition facility Monday through Friday between 10:00 A.M. - 5:00 P.M. by the winning bidders or their shippers. Please call us the day before pick-up. If a shipper is picking the items up, please e-mail us a short note giving us permission to release the items to your shipper.
All winning lots must be picked up within thirty (30) working days following the close of the auction. After thirty (30) days, each lot will become subject to storage fees of not less than $5 per day. After 180 days following the close of the auction, any lot which is not picked up will become the property of Palm Beach Modern Auctions and may be disposed of in any manner by Palm Beach Modern Auctions without recourse.
Buyer's Premium: Buyer's Premium: Bidders will be charged a 20% buyer's premium (23% for internet bidders). The total sales price of an item will be calculated as follows: the hammer price of the item plus the 20% buyer's premium (plus 3% for internet bidders) plus 6% West Palm Beach sales tax, unless exempt (see "Sales Tax" below). Bidders paying by credit card will be charged an additional 2.5%.
Sales Tax: Sales Tax: Sales tax will be added to all purchases at the rate of 6% (West Palm Beach County sales tax rate) of the final purchase price. No sales tax will be charged if the successful bidder provides us with a copy of a valid "Resale Form" or "Tax Exempt Certificate." Items shipped out of state are not subject to sales tax as long as the successful bidder furnishes us with a copy of a shipping document from a shipper showing that the lots are being shipped out of state.
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