Auction Date:2015 Apr 15 @ 18:00 (UTC-5 : EST/CDT)
Location:236 Commercial St., Suite 100, Boston, Massachusetts, 02109, United States
ALS - Autograph Letter Signed
ANS - Autograph Note Signed
AQS - Autograph Quotation Signed
AMQS - Autograph Musical Quotation Signed
DS - Document Signed
FDC - First Day Cover
Inscribed - “Personalized”
ISP - Inscribed Signed Photograph
LS - Letter Signed
SP - Signed Photograph
TLS - Typed Letter Signed
American economist (1919–2013) whose work on public choice theory earned him the Nobel Memorial Prize in 1986. Two TLSs, both signed with his initials, each one page, 8.25 x 11, Center for Study of Public Choice letterhead, dated December of 1990 and January of 1991. Both letters are to Michael Tochtermann “with reference to the Recktenwald project on the Future of Economic Science.” One reads, in part: “I was never sure whether or not Professor Recktenwald and I could communicate fully with each other for he seemed to consider that I had made commitments when I did not think that such was the case. My last note from Professor Recktenwald was a request that I write a short essay on ‘Economic Science in the Future,’ 5–10 pages, to be translated into German.” In overall fine condition, with punch holes to left side of both letters.
Auction Location:
236 Commercial St., Suite 100, Boston, Massachusetts, 02109, United States
Previewing Details:
Visit www.RRAuction.com
Buyer's Premiums:
| From (Incl.) | To (Excl.) | Premium |
| 0.00 |
Infinite |
22.5% |
Additional Fees:
Shipping Details:
Up to $100 $10.00
$101-$500 $15.00
$501-$1,000 $20.00
$1,001-$3,000 $35.00
$3,000-$10,000 $45.00
Over $10,000 $100.00
Payment Details:
Paypal address: mandy@rrauction.com
Accepted Payment Methods:
- Money Order/Bank Draft
- Check/Cheque
- COD (cash on delivery)
- Wire Transfer
Terms and Conditions of Sale
TERMS AND CONDITIONS OF SALE - AGREEMENT
BETWEEN R&R AUCTION COMPANY, LLC AND BIDDER BY EITHER REGISTERING TO BID OR PLACING A BID, THE BIDDER ACCEPTS THESE CONDITIONS OF SALE AND ENTERS INTO A LEGALLY, BINDING, ENFORCEABLE AGREEMENT WITH RR AUCTION.
The following terms and conditions constitute the sole terms and conditions under which R&R AUCTION COMPANY (“RR Auction”) will offer for sale and sell the property described in the Catalog. These Conditions of Sale constitute a binding agreement between the Bidder and RR Auction with respect to the auction. By bidding at auction, whether in person, through an agent or representative, by telephone, facsimile, on-line, absentee bid, or by any other form of bid or by any other means, the Bidder acknowledges the thorough reading and understanding of all of these Conditions of Sale, all descriptions of items in the Catalog, and all matters incorporated herein by reference, and agrees to be fully bound thereby.
NO BID MAY BE PLACED IN ANY MANNER UNLESS THE BIDDER HAS FULLY REVIEWED AND AGREES TO ALL OF THE “CONDITIONS OF SALE” EITHER PRINTED IN THE CATALOG OR ON-LINE, AS WELL AS THE TERMS OF THE REGISTRATION FORM. BY PLACING ANY BID, THE BIDDER REPRESENTS AND WARRANTS TO RR AUCTION THAT HE OR SHE HAS FULLY REVIEWED AND AGREES TO BE BOUND BY ALL OF THESE “CONDITIONS OF SALE” AND THE TERMS OF THE REGISTRATION FORM. WITHOUT SUCH REPRESENTATION, WARRANTY AND AGREEMENT, RR AUCTION WOULD NOT PERMIT THE BIDDER TO BID.
Bidder and RR Auction agree that any agreements between the Bidder and RR Auction including but not limited to these Conditions of Sale are entered into in Boston Massachusetts, Suffolk County, 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 RR Auction 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 Boston Massachusetts, Suffolk County law, and that any and all claims or actions shall be brought and maintained only in Boston Massachusetts, Suffolk County. THE PARTIES EXPRESSLY WAIVE ANY RIGHT TO TRIAL BY JURY. The Bidder hereby consents that any dispute shall be presented in confidential binding arbitration before a single selected Arbitrator selected by the American Arbitration Association. The Bidder and RR Auction herby agree that the dispute shall go to binding arbitration in accordance with the commercial rules of the American Arbitration Association. The American Arbitration Association arbitration shall be conducted under the provisions of the Federal Arbitration Act and the Bidder consents to jurisdiction in The Commonwealth of Massachusetts. Any dispute, claim, cause of action must be brought within one (1) year of the alleged breach, default or misrepresentation or the claim is waived. After one (1) year, the Bidder hereby releases and discharges RR Auction from any and all legal, equitable, administrative and/or other claims, counterclaims, demands, setoffs, defenses, accounts, suits, debts, dues, actions, causes of action, proceedings, arbitrations, damages, executions, judgments, findings, controversies and disputes, whether known or unknown or suspected or unsuspected, whether in law or equity, that the Bidder have or may have had against RR Auction arising from or relating to any claim whatsoever. Both Bidder and RR Auction agree that these provisions are intended to be binding on all parties in the event of any dispute specifically including third party claims and cross-actions brought by either RR Auction or Bidder, and that absent such agreement, RR Auction would not permit Bidder to bid hereunder. Any violation of the terms of this Paragraph shall entitle RR Auction to reasonable attorney fees and litigation costs in addition to all other available remedies, all of which remain reserved. The Bidder hereby agrees that RR Auction shall be entitled to present these Conditions of Sale to a court in any jurisdiction other than set forth in this paragraph as conclusive evidence of the parties’ agreement, and the parties further agree that the court shall immediately dismiss any action filed in such jurisdiction. An award granted in arbitration is enforceable in any court of competent jurisdiction. The arbitrator’s award may be enforced in any court of competent jurisdiction. This agreement and any claims shall be determined and construed under Boston Massachusetts, Suffolk County law.
RR Auction is in compliance, to the fullest extent possible, with Boston Massachusetts, Suffolk County procedures regarding the bonding of auctioneers.
Auctioneer and Auction:
1. This Auction is presented by RR Auction, a d/b/a/ of R&R Auction Company, LLC, as identified with the applicable licensing information on the title page of the catalog or on the www.RRauction.com Internet site (the “Auctioneer”). The Auction is conducted under these Terms and Conditions of Sale and applicable state and local law. Announcements and corrections from the podium at live auctions and those made through the Terms and Conditions of Sale appearing on the Internet at RRauction.com supersede those in the printed catalog.
Bidder/Bidders:
2. “Bidder” or “Bidders” shall mean the original Bidder of the property from RR Auction and not any subsequent owner or other person who may acquire or have acquired an interest therein. If Bidder is an agent, the agency must be disclosed in writing to RR Auction prior to the time of sale, otherwise the benefits of the warranty shall be limited to the agent and not transferable to the undisclosed principal.
3. The rights granted to Bidders under these Terms and Conditions of Sale are personal and may not be assigned or transferred to any other person or entity, whether by operation of law or otherwise. Any attempt to assign or transfer any such rights shall be absolutely void and unenforceable. No third party may rely on any benefit or right conferred on any Bidder by these Terms and Conditions of Sale.
4. Bids will not be accepted from minor persons under eighteen (18) years of age without a parent’s written consent containing an acknowledgment that the Terms and Conditions of Sale herein and indicating their agreement to be bound thereby on behalf of the Bidder.
5. Any person participating or registering for the Auction agrees to be bound by and accepts these Terms and Conditions of Sale.
6. All Bidders must meet Auctioneer’s qualifications to bid. Any Bidder who is not a client in good standing of RR Auction may be disqualified at RR Auction’s sole option and will not be awarded lots. Such determination may be made by RR Auction in its sole and unlimited discretion, at any time prior to, during, or even after the close of the Auction.
RR Auction reserves the right to exclude any person from the auction.
7. If an entity places a bid, then the person executing the bid on behalf of the entity agrees to personally guarantee payment for any successful bid.
8. By accepting the Terms and Conditions of Sale, Bidder personally and unconditionally guarantees payment. If the Bidder is a corporation, the officers, directors, and principals of the corporation hereby agree to personally and unconditionally guarantee payment as part of the corporation’s agreement to bid. The authorized representative of any corporate Bidder who is present at the sale shall provide RR Auction or its agent, prior to the commencement of the bidding (or at the time of registration), with a statement signed by each principal, director and officer that they each personally and unconditionally guarantee any payment due RR Auction
Credit:
9. In order to place bids, Bidders who have not established credit with the Auctioneer must either furnish satisfactory credit information (including two collectibles-related business references) or supply valid credit card information, well in advance of the Auction. Bidders who are not members of RRAuction.com should pre-register before the close of the Auction to allow adequate time to contact references. Credit will be granted at the discretion of Auctioneer. Additionally Bidders who have not previously established credit or who wish to bid in excess of their established credit history may be required to provide their social security number or the last four digits thereof so a credit check may be performed prior to Auctioneer’s acceptance of a bid. Check writing privileges and immediate delivery of merchandise may also be determined by pre-approval of credit based on a combination of criteria: RRAuction.com history, related industry references, bank verification, a credit bureau report and/or a personal guarantee for a corporate or partnership entity in advance of the auction venue.
Buyer’s Premium:
10. The Bidder acknowledges and agrees that a twenty-two-and-a-half percent (22.5%) buyer’s premium for the first $100,000 and twenty percent (20%) of any amount over will be added to the hammer price on all individual lots. RR Auction will only accept cash, check, money order, or wire. Unless otherwise agreed in writing, signed by RR Auction, payment in full is due within thirteen (13) calendar days of the auction or within twelve (12) calendar days of the invoice date, whichever is later.
Bidding:
11. By submitting a bid, whether online, in person, by mail, by phone, by facsimile or through an employee or agent, the Bidder acknowledges (i) receipt of the catalogue, (ii) that the Bidder has read the Terms and Conditions of Sale and the descriptions for the lots on which they have bid, and (iii) that they agree to adhere to these Terms and Conditions of Sale.
12. Each Bidder’s determination of its bid should be based upon its own examination of the item(s), rather than the strict reliance as to what is represented in this Catalogue, online or elsewhere. In any purchase or sale, the value of the item(s) is determined by the price. THE BIDDER HEREBY ASSUMES ALL RISKS OF VALUATION CONCERNING ANY AND ALL PURCHASES.
13. RR AUCTION IS NOT RESPONSIBLE FOR ERRORS IN BIDDING. A Bidder should make certain to bid on the correct lot and that the bid is the maximum (plus the 22.5% Buyer’s Premium) that the Bidder is willing and able to pay. Since other Bidders (by mail, facsimile and in person) will be present, and since a re-offering could damage the momentum of the sale, once the hammer has fallen and the Auctioneer has announced the winning Bidder, such Bidder is unconditionally bound to pay for the lot, even if the Bidder has made a mistake.
14. If the description of any lot in the catalogue is incorrect (e.g. gross cataloging error), the lot is returnable if returned within five (5) calendar days of receipt, and received by RR Auction no later than twenty-one (21) calendar days after the sale date. NO RETURN OR REFUND OF ANY AUCTION LOT WILL BE CONSIDERED EXCEPT BY REASON OF LACK OF AUTHENTICITY, UNLESS OTHERWISE PROVIDED IN THESE TERMS AND CONDITIONS OF SALE.
15. All prospective Bidders who examine lots in person prior to the sale shall personally assume all responsibility for any damage they cause in so doing. RR Auction shall have sole discretion in determining the value of the damage caused, which shall be promptly paid by the prospective Bidder.
16. Title to any lot remains with Consignor, any secured party of the Consignor, or assignee of Consignor, as the case may be, until the lot is paid for in full by Bidder. RR Auction reserves the right to require payment in full before delivering any lot to the successful Bidder.
17. It is the Bidder’s responsibility and obligation to have the lots fully insured while in their possession. Bidder assumes any and all RISK OF LOSS once the lot(s) is in Bidder’s possession.
18. Bidder grants to RR Auction or its assigns the right to offset any sums due, or found to be due by RR Auction, and to make such offset from any past, subsequent or future consignment, or items acquired by Bidder in possession or control of RR Auction or from any sums due to Bidder by RR Auction. Bidder further grants RR Auction a purchase money security interest in such sums or items to the extent applicable, and agrees to execute such documents as may be reasonably necessary to grant RR Auction such security interest. Bidder agrees that RR Auction and its assigns shall be a secured party with respect to items bought by Bidder and in the possession of RR Auction, to the extent of the maximum indebtedness, plus all accrued expenses, until the indebtedness is paid.
19. By bidding in this sale, Bidder personally and unconditionally guarantees payment. If the Bidder is a corporation, the officers, directors, and principals of the corporation hereby agree to personally and unconditionally guarantee payment as part of the corporation’s agreement to bid. The authorized representative of any corporate Bidder who is present at the sale shall provide RR Auction or its agent, prior to the commencement of the bidding (or at the time of registration), with a statement signed by each principal, director and officer that they each personally and unconditionally guarantee any payment due RR Auction.
20. RR Auction may at its sole and absolute discretion, make loans or advances to Consignors and/or prospective Bidders.
21. If a dispute arises concerning ownership of a lot that has been bid upon during the course of the sale, RR Auction reserves the right to commence a statutory interpleader proceeding at the expense of the Consignor and successful Bidder and any other applicable party, and in such event shall be entitled to its reasonable attorney’s fees and costs.
22. In the event of a successful challenge to the title to any goods purchased, RR Auction agrees to reimburse any Bidder in an amount equal to the successful bid price actually paid by Bidder at auction plus any Buyer’s Commission actually paid, in full and complete satisfaction of all claims, which once tendered by RR Auction, relieves and releases RR Auction from any responsibility whatsoever to the Bidder, even if the instrument is not cashed or is returned.
Bidding Options:
23. Non-Internet bids (including but not limited to podium, fax, phone and mail bids) are treated similar to floor bids in that they must be on-increment. Any podium, fax, phone, or mail bids that do not conform to a full increment will be rounded up or down to the nearest full increment and this revised amount will be considered your high bid.
24. When identical mail or FAX bids are submitted, preference is given to the first received. To ensure the greatest accuracy, written bids should be entered on the standard printed bid sheet and be received at RR Auction’s place of business at least twenty-four (24) hours before the Auction start. Auctioneer is not responsible for executing mail bids or FAX bids received on or after the day the first lot is sold, nor Internet bids submitted after the published closing time; nor is Auctioneer responsible for proper execution of bids submitted by telephone, mail, FAX, e-mail, Internet, or in person once the Auction begins.
25. In internet only Auctions, bids on an item must raise the current high bid by at least 10%. Bids will be accepted in whole dollar amounts only. No “buy” or “unlimited” bids will be accepted. In a live sale, bids on an item can change at the discretion of the auctioneer.
26. RR Auction reserves the right to accept or decline any bid. Bids must be for an entire lot and each lot constitutes a separate sale. All bids are per lot unless otherwise announced. Live auction lots will be sold in their numbered sequence unless the Auctioneer directs otherwise. It is unlawful and illegal for Bidders to collude, pool, or agree with another Bidder to pay less than the fair value for lot(s). Bidders participating in both live and online auctions acknowledge that the law provides for substantial penalties in the form of treble damages and attorneys’ fees and costs for those who violate these provisions. For live auctions the auctioneer will have final discretion in the event that any dispute should arise between bidders. The auctioneer will determine the successful bidder, cancel the sale, or re-offer and resell the lot or lots in dispute. RR Auction will have final discretion to resolve any disputes arising after the sale and in online auctions. If any dispute arises our sale record is conclusive.
Payment:
27a.Subject to fulfillment of all of the Terms and Conditions of Sale set forth herein, at the close of the Auction, title to the offered lot will pass to the highest bidder acknowledged by RR Auction, and such bidder thereupon (a) assumes full risk and responsibility (including without limitation, liability for or damage to frames or glass covering prints, paintings, photos, or other works), and (b) will immediately pay the full purchase price or such part as we may require. In addition to other remedies available to RR Auction by law, RR Auction reserves the right to impose from the date of sale a late charge of 1.5% per month of the total purchase price if payment is not made in accordance with the conditions set forth herein. All property must be removed from RR Auction’s premises by the Bidder at his/her expense not later than thirteen (13) business days following its sale and if it is not so removed, (i) a handling charge of 1% of the total purchase price per month from the 13th day after the sale until its removal will be payable to RR Auction by the Bidder, with a minimum of 5% of the total purchase price for any property not so removed within 60 days after the sale, and (ii) RR Auction may send the purchased property to a public warehouse for the account, at the risk and expense of the Bidder.
27b. All purchases delivered to Massachusetts are subject to the Massachusetts 6.25% sales tax unless the purchaser possesses a Massachusetts sales tax exemption number. Exemption numbers from other states are accepted in Massachusetts if presented with a business card or letterhead. Dealers, museums, and other qualifying parties can apply for a Massachusetts exemption number prior to the auction by contacting the Massachusetts Department of Corporation and Taxation at 100 Cambridge Street in Boston.
28. Payment is due upon closing of the Auction session, or upon presentment of an invoice. Auctioneer reserves the right to void an invoice if payment in full is not received within thirteen (13) calendar days of the auction or within twelve (12) calendar days of the invoice date. In cases of nonpayment, Auctioneer’s election to void a sale does not relieve the Bidder from their obligation to pay Auctioneer its fees (seller’s and buyer’s premium) on the lot and any other damages pertaining to the lot.
29. All sales are strictly for cash in United States dollars (including U.S. currency, bank wire, cashier checks, eChecks, and bank money orders, and are subject to all reporting requirements). All deliveries are subject to good funds; funds being received in RR Auction’s account before delivery of the Purchases; and all payments are subject to a clearing period. RR Auction reserves the right to determine if a check constitutes “good funds”: checks drawn on a U.S. bank are subject to a ten (10) business day hold, and ten (10) days when drawn on an international bank. Clients with pre-arranged credit status may receive immediate credit for payments via Check, personal or corporate checks. All others will be subject to a hold of five (5) days, or more, for the funds to clear prior to releasing merchandise.
30. In the event that a Bidder’s payment is dishonored upon presentment(s), Bidder shall pay the maximum statutory processing fee set by applicable state law. If Bidder attempts to pay via Check and the financial institution denies the transfer from Bidder’s bank account, or the payment cannot be completed using the selected funding source, Bidder agrees to complete payment.
31. If any Auction invoice submitted by Auctioneer is not paid in full when due, the unpaid balance will bear interest at the highest rate permitted by law from the date of invoice until paid. Any invoice not paid when due will bear a one and one-half per cent (1.5%) late fee on the invoice amount. If the Auctioneer refers any invoice to an attorney for collection, the buyer agrees to pay attorney’s fees, court costs, and other collection costs incurred by Auctioneer. If Auctioneer assigns collection to its house counsel, such attorney’s time expended on the matter shall be compensated at a rate comparable to the hourly rate of independent attorneys.
32. If any applicable conditions herein are not complied with the Bidder will be in default and in addition to any and all other remedies available to RR Auction and the Consignor by law, including, without limitation, the right to hold the Bidder liable for the total purchase price, including all fees, charges and expenses more fully set forth herein, RR Auction, may (a) cancel the sale of that, or any other lots sold to the defaulting Bidder at the same or any other auction, retaining as liquidated damages all payments made by the Bidder, or (b) resell the purchased property, whether at public auction or by private sale, or (c) effect any combination thereof. In any case, the Bidder will be liable for any deficiency, any and all costs, handling charges, late charges, expenses of both sales, RR Auction’s commissions on both sales at our regular rates, legal fees and expenses, collection fees and incidental damages. RR Auction may apply any proceeds of sale then due or thereafter becoming due to the Bidder from RR Auction or any affiliated company, or any payment made by the Bidder to RR Auction or any affiliated company, where or not intended to reduce the Bidder’s obligations with respect to the unpaid lot or lots, to the deficiency and any other amounts due to RR Auction or any affiliated companies. In addition, a defaulting Bidder will be deemed to have granted and assigned to RR Auction a continuing security interest of first priority in any property or money of RR Auction’s owing to such Bidder in RR Auction’s possession, and RR Auction may retain and apply such property or money as collateral security for the obligations due to RR Auction. Payment will not be deemed to have been made in full until RR Auction has collected good funds. In the event the Bidder fails to pay any or all of the total purchase price for any lot and RR Auction elects to pay the Consignor any portion of the sale proceeds, the Bidder acknowledges that RR Auction shall have all of the rights of the Consignor to pursue the Bidder for any amounts paid to the Consignor, whether at law, in equity, or under these Terms and Conditions of Sale.
33. Auctioneer shall have a lien against the merchandise purchased by the buyer to secure payment of the Auction invoice. Auctioneer is further granted a lien and the right to retain possession of any other property of the buyer then held by the Auctioneer or its affiliates to secure payment of any Auction invoice or any other amounts due the Auctioneer or affiliates from the buyer. With respect to these lien rights, Auctioneer shall have all the rights of a secured creditor, including but not limited to the right of sale. In addition, with respect to payment of the Auction invoice(s), the buyer waives any and all rights of offset he might otherwise have against the Auctioneer and the consignor of the merchandise included on the invoice. If a Bidder owes Auctioneer or its affiliates on any account, Auctioneer and its affiliates shall have the right to offset such unpaid account by any credit balance due Bidder, and it may secure by possessory lien any unpaid amount by any of the Bidder’s property in their possession.
34. Title shall not pass to the successful Bidder until all invoices are paid in full. It is the responsibility of the buyer to provide adequate insurance coverage for the items once they have been delivered to a common carrier or third-party shipper.
35. All checks, cashiers checks or money orders are payable to R&R Auction Company, LLC. Orders paid by cashier check, money order, wire are shipped upon receipt.
Delivery; Shipping; and Handling Charges:
36. Bidder is liable for shipping and handling. Auctioneer is unable to combine purchases from other auctions or affiliates into one package for shipping purposes. Lots won will be shipped in a commercially reasonable time after payment in good funds for the merchandise and the shipping fees is received or credit extended, except when third-party shipment occurs. Bidder agrees that Service and Handling charges related to shipping items which are not pre-paid may be charged to the credit card on file with Auctioneer. Unless otherwise specifically indicated, all merchandise is stored at Auctioneer’s facilities in Amherst, New Hampshire. The purchases shall be shipped from that facility unless bidder makes arrangements to take possession at the facility.
37. Successful international Bidders shall provide written shipping instructions, including specified Customs declarations, to the Auctioneer for any lots to be delivered outside of the United States. NOTE: Declaration value shall be the item’(s) hammer price together with its buyer’s premium and Auctioneer shall use the correct harmonized code for the lot. Domestic Buyers on lots designated for third-party shipment must designate the common carrier, accept risk of loss, and prepay shipping costs.
Title:
38. On the fall of the auctioneer’s hammer, title to the offered lot will pass to the highest bidder acknowledged by RR Auction but fully subject to Buyer’s compliance with all of the terms of the Conditions of Sale and the Registration Form.
Rights Reserved:
39. RR Auction reserves the right to withdraw any lot before or at the time of the auction, and/or to postpone the auction of all or any lots or parts thereof, for any reason. RR Auction shall not be liable to any Bidder in the event of such withdrawal or postponement under any circumstances. RR Auction reserves the right to refuse to accept bids from anyone.
Conducting the Auction:
40. RR Auction reserves the right to postpone the auction sale or any session thereof for a reasonable period of time for any reason whatsoever, and no Bidder or prospective Bidder shall have any claim as a result thereof, including consequential damages.
41. RR Auction reserves the right to withdraw any lot at any time, even after the hammer has fallen, until the Bidder has taken physical possession of the lot. No Consignor who has registered to bid at the sale (or at any other time unless otherwise provided in the consignment agreement), or any Bidder or prospective Bidder shall have a right to claim any consequential damages if a lot is withdrawn, even after the sale.
42. The highest qualified Bidder recognized by the Auctioneer shall be the Buyer. In the event of a tie bid, the earliest bid received or recognized wins. In the event of any dispute between any Bidders at an Auction, Auctioneer may at his sole discretion reoffer the lot. Auctioneer’s decision and declaration of the winning Bidder shall be final and binding upon all Bidders. Bids properly offered, whether by floor Bidder or other means of bidding, may on occasion be missed or go unrecognized; in such cases, the Auctioneer may declare the recognized bid accepted as the winning bid, regardless of whether a competing bid may have been higher. Auctioneer reserves the right after the hammer falls to accept bids and reopen bidding for bids placed through the Internet or otherwise.
43. Lots bearing bidding estimates shall open at Auctioneer’s discretion. In the event that no bid meets or exceeds that opening amount, the lot shall pass as unsold.
44. All items are to be purchased per lot as numerically indicated and no lots will be broken unless decided by RR Auction. Auctioneer reserves the right to withdraw, prior to the close, any lots from the Auction.
45. Auctioneer reserves the right to rescind the sale in the event of nonpayment, breach of a warranty, disputed ownership, failure to execute the reserve, auctioneer’s clerical error or omission in exercising bids and reserves, or for any other reason and in Auctioneer’s sole discretion.
46. Auctioneer occasionally experiences Internet and/or Server service outages, and Auctioneer periodically schedules system downtime for maintenance and other purposes, during which Bidders cannot participate or place bids. If such outages occur, RR Auction may at our discretion extend bidding for the Auction. Bidders unable to place their Bids through the Internet are directed to contact Client Services at 1-603-732-4280.
47. The Auctioneer has the right to sell certain unsold items after the close of the Auction. Such lots shall be considered sold during the Auction and all these Terms and Conditions shall apply to such sales including but not limited to the Buyer’s Premium, return rights, and disclaimers.
Internet Auction – Extended bidding & the 30 Minute Rule:
48. Any bidder may bid on any lot prior to 6 pm. At that time, the Extended Bidding goes into effect. If you have not bid on a lot before 6 pm, you may not bid on that lot after 6 pm. Only those bidders who have placed bids on a lot before 6 pm will be allowed to bid on that lot after 6 pm. If you are the only bidder on a lot at 6 pm, that lot is awarded to you. During the extended bidding period, a lot will remain open only to those who bid on that lot prior to 6 pm. All lots WITHOUT an opening bid at 6 pm will remain OPEN to ALL bidders until 7 pm or until they receive their first bid. These lots will close immediately upon receipt of a bid or at 7 pm, whichever comes first. For all lots that are active after 7 pm, bidding will remain open until 30 minutes pass without a bid being placed on THAT lot. The 30 Minute Rule is applied on a PER LOT BASIS; each lot in the auction closes individually based on bidding activity after 7 pm. On a PER LOT BASIS, the 30 minute timer will reset each time a bid is placed after 7 pm. If you are the high bidder, raising your maximum bid will NOT reset the timer. RR Auction reserves the right to close the auction at any time at its sole discretion.
Auctioneer’s Discretion:
49. RR Auction shall determine opening bids and bidding increments. The auctioneer has the right in its absolute discretion 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 at its absolute discretion 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, RR Auction’s record of final sale shall be conclusive. The auctioneer also may reject any bid and withdraw the lot from sale if the auctioneer decides either that any opening bid is below the reserve of the lot or article or that an advance is insufficient. Unless otherwise announced by the auctioneer at the time of sale, no lots may be divided for the purpose of sale.
Reserves:
50. Lots may be subject to a reserve which is the confidential minimum price below which the lot will not be sold. Consignors may not bid on their own lots or property.
Off-Site Bidding:
51. Bidding by telephone, facsimile-transmission (fax-in), on-line, or absentee bidding (advance written bids submitted by mail) are offered solely as a convenience and permitted subject to advance arrangements, availability, and RR Auction’s approval which shall be exercised at RR Auction’s sole discretion. Neither RR Auction nor its agents or employees shall be held liable for the failure to execute bids or for errors relating to any transmission or execution thereof. In order to be considered for off-site bidding in any manner, Bidders must comply with all of these Conditions of Sale and the terms contained on the Registration Form.
RR Auction’ Remedies:
52. Failure of the Bidder/Buyer to comply with any of these Conditions of Sale or the terms of the Registration Form is an event of default. In such event, RR Auction may, in addition to any other available remedies specifically including the right to hold the defaulting Bidder/Buyer liable for the Purchase Price or to charge and collect from the defaulting Bidder/Buyer’s credit or debit accounts as provided for elsewhere herein: (a) cancel the sale, retaining any payment made by the Buyer as damages (the Bidder/Buyer understands and acknowledges that RR Auction will be substantially damaged should such default occur, and that damages under sub-part (a) are necessary to compensate RR Auction for such damages; (b) resell the property without reserve at public auction or privately; (c) charge the Bidder/Buyer interest on the Purchase Price at the rate of one and one-half per cent (1.5%) per month or the highest allowable interest rate; (d) take any other action that RR Auction, in its sole discretion, deems necessary or appropriate to preserve and protect RR Auction’ rights and remedies. Should RR Auction resell the property, the original defaulting buyer shall be liable for the payment of any deficiency in the purchase price and all costs and expenses associated there with, including but not limited to warehousing, sales-related expenses, reasonable attorney fees and court costs, commissions, incidental damages and any other charges due hereunder which were not collected or collectable. In the event that such buyer is the successful bidder on more than one lot and pays less than the purchase price for the total lots purchased, RR Auction shall apply the payment received to such lot or lots that RR Auction, in its sole discretion, deems appropriate. If RR Auction does not exercise such discretion, the lots to which the payment shall be applied will be in descending order from the highest purchase price to the lowest. Any buyer failing to comply with these Conditions of Sale shall be deemed to have granted RR Auction a security interest in, and RR Auction may retain as collateral such security for such buyer’s obligations to RR Auction, any property in RR Auction’ possession owned by such buyer. RR Auction shall have the benefit of all rights of a secured party under the Uniform Commercial Code (U.C.C.) as adopted by The Commonwealth of Massachusetts.
Warranties:
53. RR Auction does not provide any warranties to Bidders or Buyers, whether expressed or implied, beyond those expressly provided for in these Conditions of Sale. All property and lots are sold “as is” and “where is”. By way of illustration rather than limitation, neither RR Auction nor the consignor makes any representation or warranty, expressed or implied, as to merchant ability or fitness for intended use, condition of the property (including any condition report), correctness of description, origin, measurement, quality, rarity, importance, exhibition, relevance, attribution, source, provenance, date, authorship, condition, culture, genuineness, value, or period of the property. Additionally, neither RR Auction nor the consignor makes any representation or warranty, expressed or implied, as to whether the Buyer acquires rights in copyright or other intellectual property (including exhibition or reproduction rights) or whether the property is subject to any limitations or other rights. RR Auction does not make any representation or warranty as to title.
54. All descriptions, photographs, illustrations, and terminology including but not limited to words describing condition (including any condition reports requested by Bidder, see also Generally Terminology), authorship, period, culture, source, origin, measurement, quality, rarity, provenance, importance, exhibition, and relevance, used in the catalog, bill of sale, invoice, or anywhere else, represent a good faith effort made by RR Auction to fairly represent the lots and property offered for sale as to origin, date, condition, and other information contained therein; they are statements of opinion only. They are not representations or warranties and Bidder agrees and acknowledges that he or she shall not rely on them in determining whether or not to bid or for what price. Price estimates (which are determined well in advance of the auction and are therefore subject to revision) and condition reports are provided solely as a convenience to Bidders and are not intended nor shall they be relied on by Bidders as statements, representations or warranties of actual value or predictions of final bid prices.
55. Bidders are accorded the opportunity to inspect the lots and to otherwise satisfy themselves as to the nature and sufficiency of each lot prior to bidding, and RR Auction urges Bidders to avail themselves accordingly.
56. FIREARMS. Auctioneer complies with all Federal and State rules and regulations relating to the purchasing, registration and shipping of firearms. A Bidder is required to provide appropriate documents and the payment of associated fees, if any. Bidder is responsible for providing a shipping address that is suitable for the receipt of a firearm.
Important Notice: Many identical versions of props and costumes are created for film and television productions in the normal course of a production. RR Auction does not warrant or represent that the screen shots referenced are exact images of the offered item (unless specifically noted in the written description). Use of a screen shot does not constitute a warranty or representation of authenticity or provenance. There is not a right of return or refund based upon a claim arising out of or pertaining to any reference to a screen shot.
57. Lots and property are not returnable to RR Auction for any reason except under Buyer’s limited Remedies set forth in Sections 58 and 59 below and under the express terms and conditions of Section 58.
Limitation of Damages:
58. In the event that RR Auction is prevented for any reason from delivering any property to Buyer or Buyer is otherwise dissatisfied with the performance of RR Auction, the liability, if any, of RR Auction, shall be limited to, and shall not exceed, the amount actually paid for the property by Buyer. In no event shall RR Auction be liable for incidental, special, indirect, exemplary or consequential damages of any kind, including but not limited to loss of profits, value of investment or opportunity cost.
Unauthorized Statements:
59. Under no circumstances is any employee, agent or representative of RR Auction authorized by RR Auction to modify, amend, waive or contradict any of these Terms and Conditions of Sale, any term or condition set forth on the Registration Form, any warranty or limitation or exclusion of warranty, any term or condition in either the Registration Form or these Terms and Conditions regarding payment requirements, including but not limited to due date, manner of payment, and what constitutes payment in full, or any other term or condition contained in any documents issued by RR Auction unless such modification, amendment, waiver or contradiction is contained in a writing signed by all parties. Any statements, oral or written, made by employees, agents or representatives of RR Auction to Bidder, including statements regarding specific lots, even if such employee, agent or representative represents that such statement is authorized, unless reduced to a writing signed by all parties, are statements of personal opinion only and are not binding on RR Auction, and under no circumstances shall be relied on by Bidder as a statement, representation or warranty of RR Auction.
Buyer’s Remedies:
60. Under no circumstance will RR Auction incur liability to a Bidder in excess of the purchase price actually paid. The terms and conditions of sale herein described shall be enforced in accordance with, and governed by the laws of The Commonwealth of Massachusetts.
61. This section sets forth the sole and exclusive remedies of Buyer in conformity with Sections 51-55 (“Warranties”) and 56 (“Limitation of Damages”) herein, and is expressly in lieu of any other rights or remedies which might be available to Buyer by law. The Buyer hereby accepts the benefit of the consignor’s warranty of title and any other representations and warranties made by the consignor for the Buyer’s benefit. In the event that Buyer proves in writing to RR Auction satisfaction that there was a breach of the consignor’s warranty of title concerning a lot purchased by Buyer, RR Auction shall make demand upon the consignor to pay to Buyer the Purchase Price (including any premiums, taxes, or other amounts paid or due to RR Auction). Should the consignor not pay the Purchase Price to Buyer within thirty days after such demand, RR Auction shall disclose the identity of the consignor to Buyer and assign to Buyer all of RR Auction’ rights against the consignor with respect to such lot or property. Upon such disclosure and assignment, all responsibility and liability, if any, of RR Auction with respect to said lot or property shall automatically terminate. RR Auction shall be entitled to retain the premiums and other amounts paid to RR Auction - this remedy is as to the consignor only. The rights and remedies provided herein are for the original Buyer only and they may not be assigned or relied upon by any transferee or assignee under any circumstances.
62. All Lots sold by RR Auction are accompanied by an Auction Certificate. On any lot presented with a Auction Certificate (“AC”) issued by RR Auction, that warranty insures only to the original Bidder (as shown in Auctioneer’s records) “Bidder”. Bidder may not transfer the rights afforded under the AC and it is null and void when Bidder transfers or attempts to transfer the lot. The AC warranty is valid from date of the auction in which Bidder was awarded the lot to five (5) years after its purchase. The AC warranty is valid as to its attribution to the person or entity described or to the lot’s usage. When the lot is accompanied by a Letter of Authenticity (or its equivalent) from a third-party authentication provider, buyer has no right of return. On lots not accompanied by third-party authentication or under extremely limited circumstances not including authenticity (e.g. gross cataloging error), a Bidder who did not bid from the floor may request Auctioneer to evaluate voiding a sale; such request must be made in writing detailing the alleged gross error, and submission of the lot to Auctioneer must be pre-approved by Auctioneer. A Bidder must notify the appropriate department head in writing of the Bidder’s request within three (3) days of the non-floor bidder’s receipt of the lot. Any lot that is to be evaluated for return must be received at the office of RR Auction within 35 days after Auction. AFTER THAT 35 DAY PERIOD, NO LOT MAY BE RETURNED FOR ANY REASONS. Lots returned must be in the same condition as when sold and must include any Letter of Authenticity. If a bidder wishes to challenge the Letter of Authenticity within the five (5) year warranty period, Bidder must present with the claim, authoritative written evidence that the lot is not authentic as determined by a known expert in the field. If Auctioneer concurs that the lot is not as represented, Bidder shall be refunded their purchase price. If the Auctioneer denies the claim, the Bidder may file the dispute with the American Arbitration Association with locale in Boston Massachusetts, Suffolk County, before a single selected Arbitrator selected by the American Arbitration Association. The American Arbitration Association arbitration shall be conducted under the provisions of the Federal Arbitration Act and the Bidder consents to jurisdiction in The Commonwealth of Massachusetts. The challenge to Authenticity must be brought within one (1) year if the Auctioneer denies the claim. After one (1) year, the Bidder hereby releases and discharges RR Auction from any and all legal, equitable, administrative and/or other claims, counterclaims, demands, setoffs, defenses, accounts, suits, debts, dues, actions, causes of action, proceedings, arbitrations, damages, executions, judgments, findings, controversies and disputes, whether known or unknown or suspected or unsuspected, whether in law or equity, that the Bidder have or may have had against RR Auction arising from or relating to any claim whatsoever. Specifically, the AC provided by RR Auction, does not provide for incidental or consequential damages or other indirect damages. Any lot sold with a certificate of authenticity or other warranty from an entity other than Auctioneer is subject to such issuing entity’s rules and such conditions are the sole remedy afforded to Bidder. For information as to third party authentication warranties the bidder is directed to contact RR Auction.
RR Auction’ Additional Services:
63. For Buyers who do not remove purchased property from RR Auction’ premises, RR Auction, in its sole discretion and solely as a service and accommodation to Buyers, may arrange to have purchased lots packed, insured and forwarded at the sole request, expense, and risk of Buyer. RR Auction assumes no and disclaims all responsibility and liability for acts or omissions in such packing or shipping by RR Auction or other packers and carriers, whether or not recommended by RR Auction. RR Auction assumes no and disclaims all responsibility and liability for damage to frames, glass or other breakable items. Where RR Auction arranges and bills for such services via invoice or credit card, RR Auction will include an administration charge.
Headings:
64. Headings are for convenience only and shall not be used to interpret the substantive sections to which they refer.
Entire Agreement:
65. These Conditions of Sale constitute the entire agreement between the parties together with the terms and conditions contained in the Registration Form. They may not be amended, modified or superseded except in a signed writing executed by all parties. No oral or written statement by anyone employed by RR Auction or acting as agent or representative of RR Auction may amend, modify, waive or supersede the terms herein unless such amendment, waiver or modification is contained in a writing signed by all parties.
66. If any section of these Terms and Conditions of Sale or any term or provision of any section is held to be invalid, void, or unenforceable by any court of competent jurisdiction, the remaining sections or terms and provisions of a section shall continue in full force and effect without being impaired or invalidated in any way.
67. These Terms and Conditions of Sale and the auction shall be construed and enforced in accordance with, and governed by, the laws of The Commonwealth of Massachusetts, whether or not the auction is and these Terms and Conditions of Sale are fully performed in Boston Massachusetts, Suffolk County.