Bidding Increments
| From: | To: | Increment: |
|---|
| $0 | $199 | $10 |
| $200 | $499 | $50 |
| $500 | $999 | $100 |
| $1,000 | $1,999 | $250 |
| $2,000 | $4,999 | $500 |
| $5,000 | $9,999 | $1,000 |
| $10,000 | $19,999 | $2,000 |
| $20,000 | $49,999 | $2,500 |
| $50,000 | $99,999 | $5,000 |
| $100,000+ | | $10,000 |
Terms and Conditions of Sale
Contract
This is an auction sale, not an approval sale. When the auctioneer calls "sold" or the hammer falls this constitutes a purchase at the price hammered. The auction house has final discretion in all matters. In case of dispute, the lot(s) in question may be resold. Lots will be sold in their numerical sequence unless the auctioneer directs otherwise.
Payment
2. Payments must be made in full within 5 business days and arrangement for removal of lots must take place within 7 days after the auction.If payment is not received in this 5 day period then we will bill the credit card that is on file at ARTFACT Absolutely no lots will be released until payment in full has been made. Payment (in U.S. funds) may be made in cash, by personal check (with proper identification, at the discretion of Ancient Resource LLC.) or by MasterCard, Visa, Discover or American Express credit cards if the purchase is over $100. Please note that a 4% additional charge will be added to all credit card and Paypal purchases. If prompt payment is not made, Ancient Resource LLC reserves the right to resell the lots and charge the original bidder with both the difference and the expenses incurred.
12. If the auction invoice is not paid for in full when due per invoice terms, the unpaid balance will bear interest at the highest rate permitted by law until paid in full. If the matter is referred to an attorney for collection, bidder agrees to pay all reasonable attorney fees, court costs and other collection cost incurred by Ancient Resource LLC. to collect past due invoices and that the services of process by certified or registered mail, return receipt requested, shall be sufficient to confer "in personam" jurisdiction over bidder.
Premium
A 23.5% buyer's premium will be added to the final hammer price of each lot purchased through Ancient Resource LLC, and will be paid by all bidders, without exception!
Taxes
Appropriate state and local Sales Tax (9.0%) will be added to all California invoices, unless a valid seller's permit is on file with Ancient Resource LLC. prior to any bidding in the auction. Coin purchases of $1500 and over are also sales tax exempt to buyer's within California. Items shipped outside of California and the United States of America are also sales tax exempt.
Taxes
Appropriate state and local Sales Tax (9.0%) will be added to all California invoices, unless a valid seller's permit is on file with Ancient Resource LLC. prior to any bidding in the auction. Coin purchases of $1500 and over are also sales tax exempt to buyer's within California. Items shipped outside of California and the United States of America are also sales tax exempt.
Shipping
Shipping is the responsibility of the buyer. All bidders will receive an invoice detailing the purchases, sales tax, the buyer's premium, and shipping and handling charges. All collectibles will be mailed only upon receipt of payment in full and will be insured for their full value where applicable. Items shipped outside of the USA may need the buyer to provide their own insurance. All lots are shipped at the buyer's risk upon clearance of payment. We will NOT falsify customs value on international shipments! Please note that items of Persian or Iranian origin are subject to US trade restrictions which prohibit their export out of the United States, with no exemptions. Ancient Resource can act as the shipping agent for most lots. Oversize and delicate lots will be referred to a third party for shipping.
Conditions
No lots purchased by a floor bidder may be returned, including those lots where the bidder is acting as agent for another, or to mail bidders who have examined the lot(s). There are no returns or refunds except for reason of lack of authenticity. Claims to the contrary must be made in writing within ten (10) days after receipt of material. A letter from a recognized expert in the field pertaining to the item in dispute must be presented for refund. No lots may be returned without prior written consent. Late remittance constitutes just cause for revocation of all return privileges. In no event may any lot(s) be returned after thirty (30) days from the date of the auction. All sales are then FINAL!
MAIL or "Absentee" BIDS may be left prior to and or during the auction, and will take priority over an identical floor bid. In case of a tie mail bid, the earliest received bid will take priority. Mail bids sent via United States mail, E-mail, FAX (818-248-5959) or phone ( 818-425-9633) will be executed by Ancient Resource LLC., at no charge. Your bids will be started at a small increment over the next highest bid, saving the bidder money wherever possible. Ancient Resource LLC. is not held responsible for any errors in bidding made on behalf of a mail bidder. Ancient Resource LLC. reserves the right to refuse any mail bids under 50% of the estimates. Mail bids that are accepted for under 50% of the estimated price may be used as a starting bid on that particular lot.
Estimates are given at the end of each lot description and serve only as a guide. They are not given as starting points for bidding. Bids below 50% of the estimate have little chance of success and may not be recorded. Bidding will start at an increment above the second highest mail or absentee bid received. Lots may sell for a price greater than or less than these estimates.
The auctioneer may open the bidding on any lot by placing a bid on behalf of the seller. The auctioneer may bid further on behalf of the seller up to the amount of the reserve, by placing successive bids for any lot, or by placing bids in response to other bidders. The auctioneer may accept or decline any bid, or challenge to any bid, as he in his sole discretion shall determine.
Floor and mail bidders who have not yet established credit with Ancient Resource LLC. must furnish satisfactory credit references or deposit at least twenty-five percent (25%) of their total bids for that session(s) or such other amounts as Ancient Resource LLC. may require before such bids will be accepted. Deposits submitted will be applied to purchases and any unused portion of such deposit will be promptly returned.
In the event a successful bidder fails to make payment when due, Ancient Resource LLC. reserves the right to re-sell the merchandise and bidder agrees to pay for the reasonable cost of such a sale and also to pay any difference between the resale price and the previously successful bid, together with any incidental costs of sale and disbursements.
Buyer agrees that any claim of controversy arising out of, or relating to the formation, interpretation of performance of these terms and underlying transactions or the breach thereof, is subject to arbitration or judicial proceedings and shall take place within the County of Los Angeles subject to the laws of the State of California.
