| Using the Catalog
& Conditions of Sale
About the Auction: 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 30 minutes. If
bidding activity takes place in the closing 5 minutes of that time
period, the time will be extended another 30 minutes, and so on
until there is no more last minute bidding activity.
Bidding Deadline: December 12, 2007 at 3:30 pm Central Standard Time. New bids cannot
be placed after 3:30 pm - unless the auction has been automatically
extended a period of 30 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 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 3:30 pm CST. 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.
Starting and Minimum
bids:
The starting bid is simply a number to start the bidding process
off. Bids placed at that amount or above will be recorded in the
auction system. The Minimum bid amount is the lowest possible bid
amount at which the auction could successfully close. You could
potentially bid above the starting bid, but below the minimum bid
amount and not win the auction. After placing a bid, please return
to the auction page and confirm that the minimum bid amount has
been met.
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: The reserve (or reserve price) is the
minimum price that l’art et l’automobile, acting for
the seller, is willing to accept below which the lot will not be
sold. This amount is agreed upon before the auction by both the
seller and l’art et l’automobile. Many lots are offered
at no reserve.
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
over $ 10,000 = $ 500.00 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.
Consignor’s Premium & Conditions: If
you have any interesting memorabilia you think would fit in our next
catalog, please let us about it. Your only expenses will be shipping
them to us. We will catalog them, photograph them and promote them.
Once sold, we retain a 15% commission if the lot has no reserve
and 18% 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 laid out 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, wire
transfer, PayPal, American Express, Visa 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.
Shipping: We use UPS ground service. Buyer pays
packing, shipping & insurance fees. We recommend UPS, Fed-Ex or DHL 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 responsiblity.
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) is not received as described
in the catalog. Requests for return must be made no later than 10
days from receipt of item, however shipping and handling fees are not returnable. No return authorizations shall be given
for any reason later than 30 days from date of sale. Bids cancelled
or 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.
|