About the Auction: This is a catalog auction with the option of bidding by e-mail, fax, phone, mail, or online. The concept is simple. The bidder replies to catalogued items by mail, phone, fax, online or in person before the deadline date, after which the auction is considered closed and each lot goes to the highest bidder. Bidders are encouraged to bid early. Under bidders will be informed when they are outbid in order to have the opportunity to increase their bids, if desired (see check box on Bid-By-Mail-Or-Fax Form). To encourage early bidding, all bidding activity that happens in the last closing 5 minutes will automatically extend that lot for a period of 20 minutes until there is no more bidding activity. If bidding activity takes place in the closing 5 minutes of that time period, the time will be extended another 20 minutes, and so on until there is no more last minute bidding activity.

Bidding Deadline: December 12th, 2012 at 3:00pm CST for fax, email and phone bids, 3:30pm CST for online bids. New bids cannot be placed online after 3:30 pm - unless the auction has been automatically extended for a period of 20 minutes (see above). All bids will be handled through our online auction system. Bids entered by mail, fax, or phone will be entered into the online auction system by l’art et l’automobile on the bidders behalf. Bids received by phone, fax, or mail that are under the current bid price will not be entered and we will notify the bidder. We recommend that if you need us to assist you with placing a bid that you contact l’art et l’automobile well before the deadline of 3:30pm CST on December 12th, 2012. Please place your bids early to avoid the last minute rush - and also to avoid the automatic extending auction time. Bidding starts as soon as you receive your catalog.

Bid Placement: Bids may be placed by mail, phone, fax, online or in person. Bids must be accompanied by a valid credit card number with expiration date or by a check drawn on a U.S. bank. If bidding online, a credit card number must be collected at registration. Payment will be held in escrow and only applied when and if the bidder is successful. The Maximum bid feature allows you to place an opening bid and indicate your maximum bid. In this case, the auction system will raise your bid using the standard increment structure up to but not exceeding your maximum bid, after which you will be informed when you are outbid.(defined as proxy bidding)

Price Range Estimates: In addition to descriptive information, each entry in this catalog contains a price range which reflects, in our opinion, the prices expected to be realized.

Reserves: All the lots in this auction are at ‘no reserve’ with low starting bids which in most cases are below the low estimate. The starting bid is the minimum price that l’art et l’automobile, acting for the seller, is willing to accept in order to consider the item sold.

Raising your Bids: You will be notified of the lowest possible bid amount when you bid online or by phone. Minimum bid increments are as follows:

$ 1 - $100 = $ 5.00 increment
$ 101 - $ 500 = $ 20.00 increment
$ 501 - $ 1,000 = $ 50.00 increment
$ 1,001 - $ 5,000 = $ 100.00 increment
$ 5,001 - $ 10,000 = $ 250.00 increment
$ 10,001 - $ 50,000 = $ 500.00 increment
Over $50,000 = $ 1,000.00 increment

Buyer’s Premium & Sales Tax: Bidders are reminded that the purchase price to be paid by the highest bidder will be the sum of the final bid price plus the buyer’s premium of 15% of the final bid. Purchases within the state of Texas are subject to 6.75% sales tax, unless the buyer is exempted by law and provides l’art et l’automobile with a valid and current resale certificate. There is a 2.5% charge for cedit card payments.

Consignor’s Premium & Conditions: If you have any interesting memorablia you think would fit in our next catalog, please let us know about it. Your only expenses will be shipping them to us. We will catalog them, photograph them and promote them. All items consigned should be ready to be sold. A charge will be added accordingly if lots need to be cleaned or restored prior to being cataloged. Once sold, we retain a 17% commission if the lot has no reserve price and 20% if reserved. If not sold in the auction or in the after sale, the items can be shipped back at your expense. No other costs are contained within this agreement. Payment is made 3 weeks after items are shipped to the buyer in order to insure that the lot(s) are not returned for a valid reason as noted in the Return Policy section.

Payment: Payment may be made to l’art et l’automobile by checks drawn on a US bank, US currency, American Express, Visa, Discover or MasterCard. Statements are issued within 10 days of the auction end at which time payment is due. If payment has not been received within 15 days of the statement date, there will be a late/storage fee of 1.5%.

Shipping: We use UPS ground service. Buyer pays packing, shipping & insurance fees. We recommend UPS for all shipments domestic and international as items are trackable and insured in case of loss or damage. Any other carriers are the owner’s sole responsibility.

Return Policy: Buyer must obtain return authorization from l’art et l’automobile. Such authorization is given only under the condition that the lot(s) received is not as described in the catalog. Requests for return must be made no later than 10 days from receipt of item. Bids cancelled or items returned after the end of the auction for any other reason will incur a cancellation fee of 10% of the closing price.

Conditions of Sale

1. l’art et l’automobile acts solely as agent for the seller of each lot.
2. All property is sold “as is” and neither l’art et l’automobile nor the seller (“consignor”) makes any express or implied representations of any kind or nature with respect to each lot beyond the descriptions contained in the text. It should be noted that all items are described accurately to the best of our knowledge, and questions may be asked.
3. l’art et l’automobile reserves the right to offer duplicate examples to the under bidder.
4. l’art et l’automobile is not responsible for the provenance of lots prior to consignment.
5. This agreement is entered into pursuant to the laws of the State of Texas and shall be so construed and governed.