BLACKSPARROW AUCTIONS TERMS & CONDITIONS

BY EITHER REGISTERING TO BID OR PLACING A BID, THE BIDDER ACCEPTS THE FOLLOWING CONDITIONS OF SALE AND ENTERS INTO A LEGALLY, BINDING, ENFORCEABLE AGREEMENT WITH BLACKSPARROW AUCTIONS (“BLACKSPARROW”).

Bidder and Blacksparrow agree that any agreements between the Bidder and Blacksparrow, including but not limited to these Conditions of Sale, are entered into in Los Angeles County, California, which is where the agreements are to be performed and the auction to take place, no matter where Bidder is situated and no matter by what means or where Bidder was informed of the auction and regardless of whether catalogs, materials, or other communications were received by Bidder in another location. Both Blacksparrow and the Bidder agree that any disputes under these Conditions of Sale, the subject matter hereof, the entering into, or any aspect of the auction, shall be exclusively governed by California law, and that any and all claims or actions shall be brought and maintained only in Los Angeles County, California in a State or Federal Court to the exclusion of any other venue, locale or jurisdiction. All parties submit to such jurisdiction.

1. Estimate Prices: In addition to descriptive information, each entry in the catalog includes a price range, which reflects opinion as to the price expected at auction. These are based upon various factors including prices recently paid at auction for comparable property, condition, rarity, quality, history and provenance. Estimates are prepared well in advance of the sale and subject to revision. Estimates do not include the buyer’s premium or sales tax.

2. Reserves: The reserve is the minimum price the seller is willing to accept and below which a lot will not be sold.

3. Buyer’s Premium and Sales Tax: The actual purchase price will be the sum of the final bid price plus the buyer’s premium of 18% of the hammer price. Hammer price is the final bid amount called out by the auctioneer when the gavel, proverbial or otherwise, comes down. California sales tax shall automatically be added to the purchase price for CA residents, unless exempted.

4. Advance Inquiries: Bidders are encouraged to send inquiries pertaining to the auction, as a whole and/or individual lot. You may also request condition reports. Blacksparrow strongly urges the bidder to resolve any questions PRIOR TO BIDDING.

5. Bidding: Property is auctioned in consecutive numerical order, as it appears in the catalog. Blacksparrow shall determine all opening bids and bidding increments. The auctioneer will accept bids from those present in the salesroom or absentee bidders participating by telephone, Internet or by written bid left with Blacksparrow in advance of the auction. The auctioneer has the absolute discretionary right to reject any bid in the event of dispute between bidders or if the auctioneer has doubt as to the validity of any bid, to advance the bidding and to determine the successful bidder in the event of a dispute between bidders, to continue the bidding or to reoffer and resell the lot in question. In the event of a dispute after the sale, Blacksparrow’s record of final sale shall be conclusive.

6. Internet Bids: Blacksparrow is pleased to partner with iCollector to provide online bidding in real-time. However, Blacksparrow is not and cannot be responsible or liable for any problems, delays, or any other issues or problems resulting from use of the Internet generally or specifically, including but not limited to transmission, execution or processing of bids. On some occasions beyond the control of Blacksparrow, the iCollector bid software or the Internet itself may not physically keep up with the pace of the auction. In order to help avoid disappointment, Blacksparrow recommends placing a realistic absentee bid as early as possible.

7. Successful Bids: The proverbial fall of the auctioneer’s hammer indicates the final bid. Blacksparrow will record the paddle number of the buyer. Winning bidders shall be notified with an invoice within 48 hours after the conclusion of the auction.

8. Payment: Payment is expected in full within 7 calendar days of the sale, or within 5 calendar days of the invoice date, whichever is later. Acceptable methods of payment include cash, personal check, cashiers check, money order, credit card (VISA, Mastercard, Discover, AMEX), bank transfer, and PayPal. Other forms of payment may be accepted. Please consult a staff member.

9. Shipping: Buyers are responsible for arranging shipping and for all shipping costs. As a convenience, shipping for small items may be handled by Blacksparrow via FedEx. For oversize items, a third party shipper is recommended. Buyers may use any shipper of their choice. Blacksparrow can recommend local shippers if needed.

10. Buyer’s Remedies: As these are rare collector pieces, all sales are final. In the unfortunate event that there is a problem with the condition of an item when it is delivered, Blacksparrow will collaborate with you to resolve any shipping and/or condition issues. Note that all matters relating to provenance and/or history of a lot need to be resolved prior to the auction.