Terms and Sale
Portland Antique Inc. as agent is now offering this catalog for our consignor(s) and owner(s) of the properties listed here for sale. You agree to be bound the Condition of sale when you bid at auction.
EXHIBITIONS All lot are Sold As Is and Where As Is and without Guarantee. Neither Portland Antique Inc. nor the consignors make any warranties or representations, express or implied with respect to such lots. Buyers are strongly advised to personally examine any property in which they are interested before the auction takes place. Condition reports are available on each lot listed. Any and all statements and descriptions in any catalog or elsewhere by Portland Antique Inc., relating to age, attribution, authenticity, size, genuineness, provenance, historical relevance or significance, physical condition, importance, quality, quantity, rarity, period, culture, source or origin, are presented as statements of qualified opinion only.
ESTIMATED PRICES As a convenience to our clients, we furnish pre-sale estimates for all materials included in the auctions. These estimates are only our approximate valuations and should be taken as educated guesses based upon comparable auction values, not as "prices." Bidding normally begins at listed start price, usually very low, but the final bid price may well be less than or more than any estimate printed.
REGISTRATION Buyer must complete and sign a registration form and provide identification before bidding. We may require bank or other financial references. A photo ID and Credit Card will be copied for record. Tax document is provided for tax-free. Portland Antique Inc. has the right, at our complete discretion, to refuse admission to the premises or participation in any auction and to reject any bid. For first time bidders, international bidders or bidders with bad credit and history record, we will ask a $500 deposit holding from their registered credit card to get approval for bidding with us. Please note it is not real charge, just hold to guarantee there are enough fund in the account. If buyer don't won, money will still stay on your account.
RESERVE Some lots in the sale are subject to a reserve which is the confidential minimum price below which such lot will not be sold. The reserve many be exceed the low estimate of the lot. Reserves are agreed upon with consignors or, in the absence thereof, the absolute discretion of Portland Antique Inc. The auctioneer may open the 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 the reserve, either by placing consecutive bids or by placing bids in response to other bidders. With respect to lots that are offered without reserve, unless there are already competing bids, the auctioneer, in his or her discretion, will generally open the bidding at half of the low estimate for the lot. In the absence of a bid at that level, the auctioneer may proceed backwards at his or her discretion until a bid is recognized, and then continue up from that amount.
INTERNATIONAL BIDDERS YOU ARE RESPONSIBLE TO MEET ALL CUSTOMS/IMPORT-EXPORT REGULATIONS. WE WILL ASSIST BUT CANNOT BE HELD LIABLE FOR INTERNATIONAL LAWS AFFECTING THE DELIVERY OF YOUR ITEMS.
BIDDING When making a bid at site of live sale, absentee bid, by phone, by Internet, a bidder is accepting personal liability to pay the purchase price, including the buyer's premium, all applicable taxes and all other applicable charges, unless it has been explicitly agreed upon in writing LAG. Before the commencement of the sale that the bidder is acting as agent on behalf of an identified third party acceptable to Portland Antique Inc., and that Portland Antique Inc. will only look to the principal for payment.
ABSENTEE BIDS As a service to those wishing to place bids, we will accept such bids, in advance of the sale, on bidding forms available from us. In the event identical bids are submitted, the earliest will take precedence. Absentee bids shall be executed in competition with other absentee bids, any applicable reserve, bids from the audience and bids live on-line. If we receive written bids on a particular lot for identical amounts, and these are the highest bids on the lot at the auction, it will be sold to the person whose written bid was received and accepted first. Execution of written bids is a free service undertaken subject to other commitments at the time of the sale and we do not accept liability for failing to execute a written bid or for errors and omissions in connection with the written bid.
TELEPHONE BIDS On lots with a low estimate of $300 and above and if a bidder makes arrangements with us prior to the commencement of the sale we will use reasonable efforts to contact them to enable them to participate in the bidding by telephone and we do not accept liability for failure to do so or for errors and omissions in connection with telephone bidding.
ONLINE BIDS Portland Antique Inc. cooperate with couple of Internet live auction platforms to host the sale. A variable additional internet fee from 2% to 5% will be charged depend on different platforms. It is buyer's responsibility to know this additional percentage charge.
SUCCESSFUL BIDDER The highest bidder acknowledged by the auctioneer will be the purchaser. In the case of a tie bid, the winning bidder will determined by the auctioneer at his or her sole discretion. In the event of a dispute between bidders, the auctioneer has final discretion to determine the successful bidder or to re-offer the lot in dispute. If any dispute arises after the sale, the Portland Antique Inc. sale record shall be conclusive. Title passes upon the fall of the auctioneers hammer to the highest acknowledged bidder subject to the Conditions of Sale set forth herein, and the bidder assumes full risk and responsibility.
Payment
PAYMENT TERMS All payment must be received in seven business days after the sale. We will open disputes online and charge $20 late fee each day after 7 business days. We accept Cash, Personal Checks, Certified Checks, Wire transfers and Visa, Mastercard, but No American Express and other Credit Cards. 3% additional fee will be charged if you pay with credit card. Auction purchases must be paid in full within 7 days past of the auction. International orders and all orders of $5,000 or more must be paid for by Certified Check or Money Transfer. Unpaid case will be transferred to attorney and Collection Company for further actions.
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BUYER'S PREMIUM Portland Antique Inc. does not own the property that we sell at auction. We provide a venue to bring buyers and sellers together. Sellers are called consignors and we take possession of their property months before the auction. We use this time to research, catalog, and photograph and market the items before they go up for sale. When an object is sold, Portland Antique Inc. receives a percentage of the hammer price (we call that the seller's commission) plus certain fees as our payment from the consignor. We also collect a percentage of the hammer price from the buyer that we call a Buyer's Premium.
THERE WILL BE A 20% BUYERS PREMIUM APPLIED TO ALL SALES PLUS AN ADDITIONAL 2% to 5% FOR ONLINE BIDS DEPENDING ON INTERNET PLATFORMS. ALL ITEMS SOLD IN OUR GALLERY IS TAX EXCEPTION BECAUSE OF SALE TAX FREE IN DELAWARE STATE.
PAYMENT TERMS All payment must be received in seven business days after the sale. We will open disputes online and charge $20 late fee each day after 7 business days. We accept Cash, Personal Checks, Certified Checks, Wire transfers and Visa, Mastercard, but No American Express and other Credit Cards. 3% additional fee will be charged if you pay with credit card. Auction purchases must be paid in full within 7 days past of the auction. International orders and all orders of $5,000 or more must be paid for by Certified Check or Money Transfer. Unpaid case will be transferred to attorney and Collection Company for further actions.
