2011 TERMS AND CONDITIONS OF SALE
This Bidder Agreement (“Agreement”) is made between Red Carpet Auction Events Inc. (“Red Carpet
Auctions”) and the person or entity submitting this Bidder Agreement as listed on the reverse side of this
Agreement (“Buyer”). These terms and conditions apply to 2011
1. LI MIT ATI ONS AND DIS CLAIMERS
(A) Each Lot is consigned to Red Carpet Auction Events by the seller shown on the Consignment Agreement
(“Seller”). Each Lot is sold “AS IS - WHERE IS”, (i) any and all information concerning any Lot is provided by
Seller; (ii) Red Carpet Auction Events does not make any representations or express any opinions of its own
concerning any Lot; and (iii) Red Carpet Auction Events does not examine any Lot or any component of any
Lot, research the certificate of authenticity or the provenance of the Lot or verify any information provided by
Seller, nor does Red Carpet Auction Events undertake any duty to do any of the foregoing for the benefit of
Buyer or anyone else. Buyer acknowledges that Red Carpet Auction Events only duty toward Buyer is to
transfer the Lot to Buyer “AS IS - WHERE IS”, upon full performance by Buyer under this Agreement and at
the times specified in this Agreement. Except with regard to such duty, Buyer hereby waives and releases
Red Carpet Auction Events from and against any claim, demand, liability, or expense of any kind arising out of
or related to the Lot, expressly including without limitation any assertions of negligence (including negligent
misrepresentation), breach of contract or breach of warranty. Buyer agrees not to join Red Carpet Auction
Events as a defendant in any action or proceeding arising directly or indirectly out of the condition of the Lot or
any alleged representations concerning the Lot, and further agrees to look solely to Seller with respect to such
matters. If Buyer fails to comply with this provision, Buyer agrees to reimburse Red Carpet Auction Events for
all costs, expenses and fees, including attorney fees, in defense of such claims.
(B) Red Carpet Auction Events expressly disclaims all warranties, express or implied, concerning the Lot,
including the warranties of merchantability or fitness for any particular purpose(s). Buyer represents that the
amounts bid for any Lot are based solely on Buyer’s own independent inspection and evaluation of that Lot.
As a material inducement to this agreement: (i) Buyer has undertaken to make his own examination of any Lot
before bidding; and (ii) assumes all risk of any non-conformities in any Lot. Buyer further acknowledges that
he has not relied upon any assumptions regarding Red Carpet Auction Events knowledge concerning the Lot
or the Seller, or upon any oral or written representations by Red Carpet Auction Events, including without
limitation any representations as to condition, artist name, art works name, medium, edition, framing,
certificate of authenticity, hand signed and provenance processes of any Lot or any component of any Lot.
Finally, Buyer acknowledges that his invocation of the mediation provisions set forth in Section 5(B) below
does not create any warranties, express or implied, and that Red Carpet Auction Events shall have no liability
to Buyer or Seller as a result of its facilitation of any mediation.
(C) All Statements contained in any catalogs, brochures or advertisements of any type pertaining to the sale,
including without limitation any statements concerning condition, genuineness or authenticity, origin or
provenance, previous use , artist name, art works name, medium, edition, framing, certificate of authenticity,
hand signed and provenance of any Lot or of any component of any Lot, are either expressions of opinion or
are for ease of identification only, and they are not to be relied upon by Buyer as representations of fact.
Buyer assumes all risks associated with any nonconformity of any Lot or any component of any Lot and, as a
condition of Buyer’s participation in the auction, Buyer represents that he will conduct any inspections and
examination necessary to satisfy himself of all material facts before making any bid.
(D) Neither Red Carpet Auction Events, nor Seller, or any agent, employee or representative of Red Carpet
Auction Events or Seller has given or authorized any other person to give any oral or written affirmation,
representation, warranty or guarantee concerning any Lot. Red Carpet Auction Events assumes no liability for
any affirmations, representations, warranties or guarantees made by Seller to Buyer.
2. COMMISSI ONS AND FEES
(A) A BUYER’S PREMIUM OF 20% OF FINAL BID PRICE IS PAYABLE BY THE BUYERS OF ALL ART
WORK LOTS. Buyer understands and agrees that he must pay the sum equal to 20% for any art work Lot
purchased at this auction, that this fee will be automatically included in the final settlement figure, and that he
will be subject to applicable taxes and license fees. Sales tax, if applicable, will be charged on the final total of
hammer price plus premium.
(B) Buyer will be required to pay all applicable taxes, license fees, or other fees levied by any authority, unless
Red Carpet Auction Events receives satisfactory proof of exemption (to be determined in Red Carpet Auction
Events sole discretion). There are no refunds once Red Carpet Auction Events has paid taxes and license
fees (typically two weeks). Buyer acknowledges that the bidder registration fee paid to participate in the
auction is not included in or deducted from the total price of the auctioned vehicle.
(C) Buyer agrees that if he acquires or if any related entity or person acquires, within 60 days after the auction
date, any Lot consigned to the Red Carpet Auction Events auction that is not sold through the auction for any
reason Buyer will be obligated jointly and severally, with the Seller, for the immediate payment to Red Carpet
Auction Events of a commission in the amount of 18% (no reserve Lots) or 20% (reserve Lots) of the sale
price of the Lot.
(A) All bidder fees are non-refundable and non-transferrable.
(B) A valid method of payment must be submitted for each auction event to ensure that Buyer has current
information on file. Buyer shall bring a bank reference and a copy of Buyer’s signature certified by that bank.
Buyer agrees to pay for all Lots on the day of sale in U.S. currency, certified check or cashier’s check.
Personal checks may be accepted, at Red Carpet Auction Events sole discretion, but only if accompanied by
irrevocable bank letter of guaranty in favor of Red carpet Auction Events stipulating Buyer’s credit limit on the
day of the sale. There shall be no deviation from this provision without the prior written consent of Red Carpet
Auction Events hereby authorizes Red Carpet Auction Events to recover lost commissions or fees due to Red
Carpet Auction Events should Buyer default and charge this amount to Buyer’s American Express, Discover,
Visa or MasterCard or to recoup such commissions or fees through any other available means of payment.
(C) Buyer acknowledges and agrees that he is expressly prohibited from submitting a bid for purchase of any
Lot if any such single or cumulative bid(s) exceed(s) Buyer’s credit limit on file with Red Carpet Auction Events
for the auction then in progress. If Buyer circumvents this provision of the Agreement and succeeds in
entering a winning bid in excess of his credit limit, Buyer hereby warrants and agrees that he shall remain fully
liable to Red Carpet Auction Events and to Seller for the complete purchase price, plus applicable fees and
commissions, and that funds shall be remitted to Red Carpet Auction Events on the day of sale.
(D) Should Buyer default upon the purchase in any manner, for any reason, Buyer agrees to pay Red Carpet
Auction Events the full sum of both the Buyer’s premium and Seller’s commission. This sum is due and
payable without relief. Buyer also agrees to pay any court cost, attorney fees, storage, or other related cost or
expense of any kind or nature whatsoever incurred by Seller or Red Carpet Auction Events as a result of
Buyer’s default. This provision is in addition to and in no way supersedes or replaces Buyer’s financial
responsibility regarding such purchase.
4. PASSING OF TITLE
(A) Upon the fall of the Auctioneer’s hammer, title of the offered Lot will pass to the highest Bidder
acknowledged by the Auctioneer, subject to the conditions set forth herein, and at such time Buyer:
(i) assumes full risk and responsibility for the Lot and neither Red Carpet Auction Events nor its agents shall
be responsible for the loss of, or any damage to, any article due to theft, fire, breakage or any cause
(ii) Will sign a Contract of Sale confirming purchase of the Lot; (iii) will pay the full purchase price plus
applicable commission; and (IV) will warrant and agree that he will perform the necessary steps to document
the transfer of title in accordance with applicable state law within 30 days of receipts of transfer documentation
Red Carpet Auction Events
(B) All property must be removed from Red Carpet Auction Events premises by Buyer not later than 72 hour
following the completion of the sale, unless otherwise specifically instructed in writing by Red Carpet
Auction Events. If any Lot is not removed, a handling charge of 1% of the purchase price will be payable
by the Buyer per month, until the Lot is removed, with minimum of 5% for any property not removed within
60 days after the sale. After 90 days, Red Carpet Auction Events may dispose of the property. BUYER
HEREBY WAIVES ALL REQUIREMENTS OF NOTICE, ADVERTISEMENT AND DISPOSITION OF
PROCEEDS REQUIRED BY LAW, AND RELEASES RED CARPET AUCTION EVENTS FROM ANY
LIABILITY WHATSOEVER IN CONNECTION WITH SUCH DISPOSAL.
(C) Lots, titles and/or bills of sale will only be released in the case of cash purchases. In all other cases
release will be made only after payment (cashier’s checks, traveler’s checks, money orders and company
and personal checks, even if you have submitted a “Letter of Guaranty”) has cleared Red Carpet Auction
Events bank account.
(A) In the event Buyer breaches these terms and conditions of sale or fails to consummate the sale for any
reason, Red Carpet Auction Events may, in addition to and not in lieu of any rights available at law or in
equity, and at its sole discretion: (i) compel specific performance and hold Buyer liable for the bid price and
associated commissions; (ii) resell any Lot by public or private auction for Buyer’s account and risk, after 15
days’ written notice to Buyer at Buyer’s last known address, and hold Buyer liable for all damages, including
the difference between the bid price and resale price, Red Carpet Auction Events full commission on the bid
price, all costs for resale (including commissions), and consequential damages; or (iii) cancel the sale and
retain all payments made by Buyer, including any advance deposits, as liquidated damages and not as a
(B) Unless otherwise prohibited by law, before Buyer may initiate any legal proceeding arising out of or
relating to any sale occurring as a result of this Agreement, including, but not limited to issues related , artist
name, art works name, medium, edition, framing, certificate of authenticity, hand signed and provenance or
any other representation made regarding any Lot, Buyer shall submit to a mediation with Seller to be
facilitated by Red Carpet Auction Events or its designee on the terms and conditions set forth by Red Carpet
Auction Events. Red Carpet Auction Events or its designee will facilitate this mediation in good faith in an
effort to resolve any such dispute. If the parties are unable to reach an agreed resolution, or if Red Carpet
Auction Events in its sole discretion determines this effort or the prospect of mediation to be unsuccessful,
Seller and Buyer may thereafter resolve their dispute through appropriate legal channels. If Buyer avails
himself of this mediation provision, Buyer must request a Request for Mediation form from Red Carpet Auction
Events and submit the completed form in accordance with the instructions contained therein to begin the
mediation process. The Request for Mediation form must be submitted within 30 days from the date of
purchase of the art work or Buyer shall be deemed to have waived and forfeited the opportunity to request
mediation assistance from Red Carpet Auction Events.
(C) Buyer acknowledges that Red Carpet Auction Events may have an interest in commissions resulting from
the resolution of a dispute through this mediation process. Buyer hereby waives any potential or actual conflict
of interest inherent in such a mediation process and agrees to defend (using counsel reasonably acceptable
to Red Carpet Auction Events), indemnify and hold Red Carpet Auction Events harmless for, from and against
any claims, demands, actions, judgments, liabilities, losses or expenses (including attorney
Fees) arising from or related to Red Carpet Auction Events mediation of any dispute arising out of or relating
to this Agreement, excepting only those matters arise out of Red Carpet Auction Events willful misconduct.
(D) Notwithstanding the foregoing, and in the event the mediation referenced in section 5(B) is not requested
in a timely fashion or is unsuccessful, Buyer’s sole and exclusive remedy shall be an action for actual
damages against Seller. Buyer shall have no right to revoke acceptance of any Lot after the fall of the
hammer, and Buyer shall have no right to maintain any action for consequential damages.
(E) Buyer’s invocation of the mediation provisions of this Agreement shall not create any warranty or any other
liability between Red Carpet Auction Events and Buyer. As stated in section 1(B) above, Red Carpet Auction
Events expressly disclaims all warranties, express or implied, concerning the Lot, for any particular
(F) In the event of any dispute between Buyer and Red Carpet Auction Event arising out of or related to this
Agreement or its subject matter, Buyer’s claim for damages shall be limited exclusively to actual damages,
and shall not include consequential damages, or incidental or other special damages. In the case of any such
dispute, if the matter cannot be settled through negotiation between Buyer and Red Carpet Auction Events,
the parties agree first to try to settle the dispute through mediation before resorting to litigation. The matter in
dispute shall be submitted to a mediator, located in Miami Beach, Florida, mutually selected by Buyer and Red
Carpet Auction Events. The mediation shall take place in Miami Beach, Florida and the mediation shall be
completed within 60 days from the date a party submits the dispute to mediation. The cost of any such
mediation shall be divided equally between Buyer and Red Carpet Auction Events. Upon conclusion of the
mediation, if the parties have been unable to resolve the matter in a mutually agreeable fashion, then either
party shall be free to initiate litigation on the terms contained in this Agreement.
(G) This Agreement, and any action arising out of or based on it or its subject matter, shall be governed by
Florida law excluding its conflicts of law rules. Buyer agrees that the state and federal courts located in Miami
Beach, Florida shall have exclusive jurisdiction over any action or proceeding seeking to enforce any provision
of, or based on any right arising out of, this Agreement or its subject matter, and Buyer hereby waives any
objection to venue laid therein. If a mediation described in Paragraph 5(F) above is unsuccessful, Buyer
further agrees that the state and federal courts located in Miami Beach, Florida shall have personal jurisdiction
over Buyer for the purposes of any action described above.
6. ENTI RE AGREE MENT
This Agreement and any Contract of Sale which may be delivered to Buyer contain the entire agreement
between the Buyer and Red Carpet Auction Events pertaining to the subject matter described herein. Any
terms proposed by Buyer orally or in writing which add to, vary from or conflict with this Agreement shall be
void, and the Agreement shall constitute the complete and exclusive statement of the agreement between the
parties and may be modified only by written instrument executed by the authorized representatives of both
Buyer and Red Carpet Auction Events and which expressly modifies the Agreement.
7. ASSIGN MENT
This Agreement, and any and all rights, obligations, claims or causes of action arising from it or its subject
matter, may not be assigned to or acquired by any other person or entity without Red Carpet Auction Events
prior written authorization.
If any provision of this Agreement is held to be illegal, invalid, or unenforceable under any present or future
law: (i) such provision will be fully severable; (ii) this Agreement will be construed and enforced as if such
illegal, invalid, or unenforceable provision had never comprised a part of this agreement; (iii) the remaining
provisions of this Agreement will remain in full force and effect and will not be affected by the illegal, invalid, or
unenforceable provision or by its severance from this Agreement; and (iv) in lieu of such illegal, invalid, or
unenforceable provision, there will be added automatically as part of this Agreement a legal, valid, and
enforceable provision as similar in terms to such illegal, invalid, or unenforceable provision as may be possible
and this Agreement shall be deemed reformed accordingly.
9. APPEARANCE RELE ASE
By completing this Bidder Agreement, Buyer hereby acknowledges he has given Red Carpet Auction Events
permission to use his likeness for television, Internet, video screens, still photography and/or any other
visual/audio recording. Buyer hereby waives all residual rights or claims that might arise from use of his
picture or likeness for any purpose at any future date.