Auction Date:2021 Sep 15 @ 18:00 (UTC-5 : EST/CDT)
Location:15th Floor WeWork, Boston, Massachusetts, 02108, 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
Important archive of manuscripts from the collection of Secretary of the Treasury William H. Crawford, involving a proposed loan from Europe to support the United States government during the War of 1812. The US faced a $50 million shortfall in revenue, brought on by restricted trade, years of seizures of merchant ships, and the expense of the war. There was a real question as to whether the federal government would be able to continue to support the military during wartime. To meet this challenge, Congress authorized President James Madison to borrow up to $25 million. As structuring the loan into tranches would make it more palatable to the public, they first sought a loan in the amount of $6 million. Trusted diplomats John Quincy Adams and Albert Gallatin were already in Europe to begin negotiating the Treaty of Ghent, and they were charged with acquiring the loan at the same time.
On September 29, 1814, John Quincy Adams wrote in his journal: '[Boyd] left Washington the 12th of last month…He arrived at Bordeaux the 17th of this month at Paris the 23d and here this morning…His dispatches and newspapers are to the 12th of August. Those from the Treasury are in the first instance for Mr. Gallatin with powers to negotiate a loan in Holland of six millions of dollars. They are to me only in the case of Mr. Gallatin's absence and to Mr. Crawford in case the loan should not be obtainable at Amsterdam.'
On October 3, Gallatin wrote confidentially to the bankers Willem and Jan Willink in Amsterdam, who had been investors in the Louisiana Purchase, seeking funds up to $6 million. A true copy of this letter is included, bearing secretarial signatures of Gallatin and Adams. Gallatin received a response from the Willinks, explaining that they would be unable to lend the money on terms likely to be acceptable. The Ghent negotiators then wrote to Secretary Crawford with this news on October 16th to ask for his advice. Their letter is the highlight of this archive:
ALS in Gallatin's hand, signed by both, "Albert Gallatin" and "John Quincy Adams," one page both sides, 7 x 8.75, Ghent, October 16, 1814. In part: "We received your letter of 26th September, and wrote immediately by Mr. Boyd to our bankers at Amsterdam on the subject of the loan. Their answer gives no hope of success at this time at that place; but as you will perceive it holds out some expectation that on the contingency of favorable circumstances, the object may be obtainable after the commencement of the ensuing year. We are of opinion that such enquiries should now be made at Paris, as may enable us to give the necessary information to our government by the next dispatch vessel; and we believe that if any considerable portion of the loan can be obtained by your operations, the residue will be raised at Amsterdam. In what manner these enquiries should be made, without their object becoming public, you will be best able to judge. It is probable that the two houses of Hottinger and of Delessert, who have both some property in America, may be safely entrusted with the object…We enclose copies of the powers and instructions from the Treasury."
Included is the complete loan package enclosed with the letter, all in a secretarial hand but most with annotations by John Quincy Adams. These documents are:
Manuscript copy of the document from the Secretary of Treasury authorizing Gallatin and Adams to seek a loan "not exceeding in the whole six millions of dollars" in Europe, with minor corrections in Adams's hand (adding "said," "the," and "sum" to the text).
Manuscript copy of the document from Secretary of State James Monroe affixing the seal of his office to a copy of the act of Congress, attesting to the authenticity of the Act, with two amendments in Adams's hand (adding "shall" and "the").
Manuscript copy of the Act of Congress "to authorize a loan for a sum not exceeding twenty five millions of dollars," amended several times in Adams's hand (adding "thus borrowed," "hereby," "in," "and," "thus," and "of," with some repetition).
Manuscript copy of an order by President James Madison authorizing the Secretary of the Treasury, or his designates, to obtain the loan.
As it turned out, the response from France was even less encouraging than the one from Holland. Crawford responded to Gallatin that he had 'made sufficient enquiry to ascertain that no loan can be obtained in France upon terms which can be accepted.' Crawford feared that the recent capture of Washington would only pose further obstacles to their desires. Talleyrand himself had said 'on holding a large amount of the funded debt of the US, he would not give one sou for the whole of it.'
On October 25, just days after this letter, Crawford wrote to Gallatin, 'The inference is almost necessary that the US have not in the hands of their bankers funds sufficient to discharge the interest of the public payable in Europe,' meaning the interest payment due on the US Louisiana debt. The next day, Gallatin reported to Monroe that a loan in Europe would not be obtainable before the first of the following year. His candid assessment was much worse: it would not be forthcoming at all. The budget shortfall thus went unsolved, forcing the United States to default on some of its debts in November 1814 with missed interest payments on bonds. Only the end of the war would put the nation on a more stable financial footing.
We know of no similar documents to exist in private hands. This historic archive was originally obtained from a Crawford heir.
Auction Location:
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| From (Incl.) | To (Excl.) | Premium |
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Infinite |
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Subject to fulfillment of all of the Conditions of Sale set forth herein, upon the sooner of (1) the passing of title to the offered lot pursuant to these Conditions of Sale, or (2) possession of the offered lot by the Bidder, 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 RR Auction 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 thirty (30) business days following its sale and, if it is not so removed, RR Auction may send the purchased property to a public warehouse for the account, at the risk and expense of the Bidder.
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RR Auction shall have a lien against the merchandise purchased by the Bidder to secure payment of the Auction invoice. RR Auction is further granted a lien and the right to retain possession of any other property of the Bidder then held by RR Auction or its affiliates to secure payment of any Auction invoice or any other amounts due RR Auction or affiliates from the Bidder. With respect to these lien rights, RR Auction 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 Bidder waives any and all rights of offset he might otherwise have against RR Auction and the consignor of the merchandise included on the invoice (the "Consignor”). If a Bidder owes RR Auction or its affiliates on any account, RR Auction 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.
Sales Tax:
RR Auction is a remote seller and we are now required to collect Sales/Use Tax from our bidders. The states that we have nexus in we will be required to collect and remit sales tax on your behalf. Each state has different requirements to meet nexus. When RR Auction has achieved a certain monetary and/or invoice threshold in each state we will apply sales tax to your total invoice. Please go to our Sales Tax page on our website to see the states that are affected at https://www.rrauction.com/Sales-Taxes
If we have not achieved nexus in a particular state it is still your responsibility to pay sales tax on your purchases.
The sales tax rate is determined by the State, Country, and City where purchases are shipped to. If you decide to pick up your purchases at our New Hampshire location you will not be required to pay sales tax. The State of New Hampshire does not have a general sales and use tax. All purchases picked up at our Massachusetts location will be taxed at the current rate of 6.25%.
If you have a resale number please email Sue@RRAuction.com or fax to (603) 732-4288 a copy of your state resale certificate and you will be exempt from paying sales tax.
Delivery, Shipping and Handling Charges:
Bidder is liable for shipping and handling. RR Auction 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 a credit card on file with RR Auction.
Successful international Bidders shall provide written shipping instructions, including specified Customs declarations, to RR Auction for any lots to be delivered outside of the United States. NOTE: Declaration value shall be the item'(s) hammer price and RR Auction shall use the correct harmonized code for the lot. Domestic Bidders on lots designated for third-party shipment must designate the common carrier, accept risk of loss, and prepay shipping costs.
Title:
Title shall not pass to the successful Bidder until all invoices are paid in full. It is the responsibility of the Bidder to provide adequate insurance coverage for the items once they have been delivered to a common carrier or third-party shipper.
Rights Reserved:
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:
RR Auction reserves the right to postpone the Auction 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.
RR Auction’s Discretion:
RR Auction shall determine opening bids and bidding increments. RR Auction has the right in its absolute discretion to reject any bid in the event of dispute between Bidders or if RR Auction 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. RR Auction also may reject any bid if RR Auction decides either that any bid is below the reserve of the lot or article or that an advance is insufficient. Unless otherwise announced by RR Auction at the time of sale, no lots may be divided for the purpose of sale.
Reserves:
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. RR Auction may, from time to time, bid on items that it does not own.
Off-Site Bidding:
Bidding by telephone, facsimile, online, 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’s Remedies:
Failure of the Bidder 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 liable for the Purchase Price or to charge and collect from the defaulting Bidder’s credit or debit accounts as provided for elsewhere herein: (a) cancel the sale, retaining any payment made by the Bidder as damages (the Bidder 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 interest on the Purchase Price at the rate of one and one-half percent (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’s rights and remedies. Should RR Auction resell the property, the original defaulting Bidder 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 Bidder 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 Bidder 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 Bidder's obligations to RR Auction, any property in RR Auction’s possession owned by such Bidder. 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:
RR Auction does not provide any warranties to Bidders, whether expressed or implied, beyond those expressly provided 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 merchantability 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 Bidder 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.
All descriptions, photographs, illustrations, and terminology including but not limited to words describing condition (including any condition reports requested by Bidder, see also 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.
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.
All lots sold by RR Auction are accompanied by an Auction Certificate ("AC”). On any lot presented with an AC issued by RR Auction, the certification is only as to its attribution to the person or entity described or to the lot's usage and only as explicitly stated therein (the "Certification of Authenticity”), to the exclusion of any other warranties, express or implied, including but not limited to those pursuant to the Uniform Commercial Code. The Certification of Authenticity inures only to the original Bidder (as shown in RR Auction's records). Bidder may not transfer, assign, or otherwise convey the Certification of Authenticity, and such purported transfer, assignment, or conveyance shall be null and void. The Certification of Authenticity is valid from date of the Auction in which Bidder was awarded the lot (the "Auction Date”) until five (5) years after the Auction Date, without exception.
FIREARMS.
RR Auction 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.
Limitation of Damages:
In the event that RR Auction is prevented for any reason from delivering any property to Bidder, or Bidder 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 Bidder. 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:
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 Conditions of Sale, any term or condition set forth on a 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 upon by Bidder as a statement, representation or warranty of RR Auction.
Bidder’s Remedies:
Under no circumstance will RR Auction incur liability to a Bidder in excess of the purchase price actually paid.
This section sets forth the sole and exclusive remedies of Bidder in conformity with the Warranties and Limitation of Damages provisions of these Conditions of Sale, and is expressly in lieu of any other rights or remedies which might be available to Bidder by law. The Bidder hereby accepts the benefit of the Consignor's warranty of title and any other representations and warranties made by the Consignor for the Bidder's benefit. In the event that Bidder demonstrates in writing, in the sole discretion of RR Auction, that there was a breach of the Consignor's warranty of title concerning a lot purchased by Bidder, RR Auction shall make demand upon the Consignor to pay to Bidder 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 Bidder within thirty days after such demand, RR Auction shall disclose the identity of the Consignor to Bidder and assign to Bidder all of RR Auction’s 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 Bidder only and they may not be assigned or relied upon by any transferee or assignee under any circumstances.
If Bidder wishes to challenge the AC within the period of the Certification of Authenticity, Bidder must present written evidence that the lot is not authentic as determined by a known expert in the field. If RR Auction agrees that the lot is not as represented, Bidder’s sole and exclusive remedy shall be a refund of their purchase price, with no other costs, liabilities or amounts recoverable. If RR Auction does not agree with the claim by Bidder, then the Parties shall follow the dispute resolution procedures of these Conditions of Sale.
Any such challenge concerning an AC or Certification of Authenticity must, without any exception, be brought within one (1) year of Bidder’s notice to RR Auction of Bidder’s contention that the lot was not authentic, or six (6) years from the Auction Date, whichever is sooner.
If the description of any lot in the Catalog is materially 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 Auction Date. If there is any discrepancy between the description in the Catalog and the AC, then the description in the AC shall control. This paragraph shall constitute Bidder’s sole right with respect to the return of items, and no refunds shall be given for any items not returned to and received by RR Auction.
NO RETURN OR REFUND OF ANY AUCTION LOT WILL BE CONSIDERED EXCEPT AS PROVIDED IN THESE CONDITIONS OF SALE.
RR Auction’s Additional Services:
For Bidders who do not remove purchased property from RR Auction’s premises, RR Auction, in its sole discretion and solely as a service and accommodation to Bidders, may arrange to have purchased lots packed, insured and forwarded at the sole request, expense, and risk of Bidder. 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, RR Auction will include an administration charge.
Headings:
Headings are for convenience only and shall not be used to interpret the substantive sections to which they refer.
Entire Agreement:
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.
If any section of these 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.
Governing Law and Enforcement
The Parties agree that any agreements between the Parties including but not limited to these Conditions of Sale are entered into in Boston, Massachusetts, 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.
The Parties agree that these Conditions of Sale, and any other related agreement(s) are governed by the laws of the Commonwealth of Massachusetts, without regard for its conflict of laws principles. The Parties agree that any dispute related to or arising out of these Conditions of Sale, or related to or arising out of any other related agreement(s) shall be submitted to confidential binding arbitration (the "Arbitration”) before a single Arbitrator of the American Arbitration Association (the "AAA”). The Parties agree that the Arbitration shall be conducted pursuant to the commercial rules of the AAA. In the event that the Parties cannot agree on the selection of the Arbitrator, then the Arbitrator shall be selected by the AAA. The prevailing Party in the Arbitration shall be entitled to recover all of its related costs, whether before or after the formal institution of the Arbitration, including but not limited to its reasonable attorneys’ fees and, if RR Auction prevails, the Buyer’s Premium as defined in these Conditions of Sale. The Parties agree that Bidder shall have no right to recover consequential or indirect damages, or lost profits damages.
The Parties consent to the enforcement of the decision in the Arbitration pursuant to the Federal Arbitration Act in either the courts of the Commonwealth of Massachusetts or the United States District Court for the District of Massachusetts.
Except as provided in Bidder’s Remedies with regard to the Certification of Authenticity, any dispute, claim, cause of action related to or arising out of these Conditions of Sale or any other agreement(s) between the Parties must be brought within one (1) year of the acts, omissions or circumstances giving rise to the alleged claim, without exceptions. This provision is intended as a full, complete and absolute release of any claims after one (1) year of such acts, omissions or circumstances. The Parties agree further that these waiver provisions are intended to be binding on all parties in the event of any dispute, specifically including but not limited to third party claims and cross-actions brought by either RR Auction or Bidder. These provisions are consideration for the execution of these Conditions of Sale.
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.
Notwithstanding the foregoing, RR Auction may, in its sole discretion, enforce its rights pursuant to these Conditions of Sale in the courts of the Commonwealth of Massachusetts or the United States District Court for the District of Massachusetts rather than in an Arbitration related to or arising out of any Auction of an item sold for less than $10,000. This right shall relate to the individual item price, such that RR Auction may, in its sole discretion, enforce its rights pursuant to these Conditions of Sale in the courts of the Commonwealth of Massachusetts or the United States District Court for the District of Massachusetts rather than in an Arbitration for items that in the aggregate exceed $10,000. The prevailing Party in such a proceeding shall be entitled to recover all of its related costs, whether before or after the formal institution of the proceeding, including but not limited to its reasonable attorneys’ fees and, if RR Auction prevails, the Buyer’s Premium as defined in these Conditions of Sale. This right of enforcement is unique to RR Auction, and these Conditions of Sale are a waiver by the Bidder of any right to enforcement or adjudication outside of an Arbitration.
CONDUCT OF AUCTION
Estimate Prices:
In addition to descriptive information, each item in the Catalog sometimes includes a price range which reflects opinion as to the price expected at auction (the "Estimate Prices”). In other instances, Estimate Prices can be obtained by calling RR Auction at (603) 732-4280. The Estimate Prices are based upon various factors including prices recently paid at auction for comparable property, condition, rarity, quality, history and provenance. Estimate Prices are prepared well in advance of the sale and subject to revision. Estimates do not include the Buyer’s Premium or sales tax (see under separate heading).
Owned or Guaranteed Property:
RR Auction generally offers property consigned by others for sale at public auction; in very limited occasion, lots are offered that are the property of RR Auction.
Before the Auction:
Bidder may attend pre-sale viewing for all of RR Auction’s auctions at no charge. All property to be auctioned is usually on view for several days prior to the sale. Bidder is encouraged to examine lots thoroughly. Bidder may also request condition reports (see below). RR Auction's staff are available at viewings and by appointment.
Maximum Bids – All Auctions:
To maximize Bidder’s chance of winning, RR Auction strongly encourages the use of maximum bids. RR Auction will then bid for Bidder until the lot reaches Bidder’s specified maximum. Maximum bids are strictly confidential. Placing arbitrary, non-incremental bids on lots with prior maximum bids may result in these lots being sold for less than 10% above the under Bidder's bid.
Successful Bids:
The fall of RR Auction's hammer indicates the final bid. RR Auction will record the paddle number of the Bidder. If Bidder’s salesroom or absentee bid is successful, Bidder will be notified after the sale by mailed or emailed invoice.
Unsold Lots:
If a lot does not reach the reserve, it is bought-in. In other words, it remains unsold and is returned to the Consignor. RR Auction 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.
Bidding—Timed Auction:
Bidder may open, monitor, and/or raise bids at any time before the close of a lot through www.rrauction.com. RR Auction offers a callback service the day of the Auction, but Bidder is responsible for supplying a correct telephone number(s) where Bidder can be reached until the Auction closes. Bidder must request this service in writing. RR Auction will make reasonable efforts to ensure that Bidders who request a callback are contacted if outbid; however, RR Auction does not guarantee this service and it is merely a courtesy and not an enforceable right.
The auctioneer may also execute a bid on behalf of the consignor to protect the reserve, either by entering a bid in response to salesroom, telephone or absentee bids. Under no circumstances will the auctioneer place any bid on behalf of the consignor above the reserve. The auctioneer will not specifically identify bids placed on behalf of the consignor to protect the reserve.
To ensure proper registration, those Bidders intending to bid via the Internet must visit www.RRauction.com and register accordingly at least one full day prior to the actual auction. Winning bidders will be notified by RR Auction. RR Auction is not responsible or liable for any problems, delays, or any other issues or problems resulting out of use of the Internet generally or specifically, including but not limited to transmission, execution or processing of bids.
Any Bidder may bid on any lot prior to 6 pm EST/EDT. At that time, an extended bidding period goes into effect. If Bidder has not bid on a lot before 6 pm EST/EDT, Bidder may not bid on that lot after 6 pm EST/EDT. Only those Bidders who have placed bids on a lot before 6 pm EST/EDT will be allowed to bid on that lot after 6 pm EST/EDT. If Bidder is the only Bidder on a lot at 6 pm EST/EDT, that lot is awarded to Bidder. During the extended bidding period, a lot will remain open only to those who bid on that lot prior to 6 pm EST/EDT. All lots WITHOUT an opening bid at 6 pm EST/EDT will remain OPEN to ALL Bidders until 7 pm EST/EDT or until they receive their first bid. These lots will close immediately upon receipt of a bid or at 7 pm EST/EDT, whichever comes first. For all lots that are active after 7 pm EST/EDT, bidding will remain open until 30 minutes pass without a bid being placed on THAT lot (the "30 Minute Rule”). 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 EST/EDT. On a PER LOT BASIS, the 30 minute timer will reset each time a bid is placed after 7 pm EST/EDT. If Bidder is the high Bidder, raising Bidder’s maximum bid will NOT reset the timer. RR Auction reserves the right to close the Auction at any time at its sole discretion.
Bidding - Internet – Live Auction:
Bidder may open, monitor, and/or raise bids at any time before the close of a lot through www.rrauction.com. RR Auction offers a callback service the day of the Auction, but Bidder is responsible for supplying a correct telephone number(s) where Bidder can be reached until the Auction closes. Bidder must request this service in writing. RR Auction will make reasonable efforts to ensure that Bidders who request a callback are contacted if outbid; however, RR Auction does not guarantee this service and it is merely a courtesy and not an enforceable right.
To ensure proper registration, those Bidders intending to bid via the Internet must visit www.RRauction.com and register accordingly at least one full day prior to the actual auction. Winning bidders will be notified by RR Auction. RR Auction is not responsible or liable for any problems, delays, or any other issues or problems resulting out of use of the Internet generally or specifically, including but not limited to transmission, execution or processing of bids.
Property is auctioned in consecutive numerical order, as it appears in the catalog. The auctioneer will accept bids from those present in the salesroom or absentee bidders participating by telephone, internet or by written bid left with RR Auction in advance of the auction. The auctioneer may also execute a bid on behalf of the consignor to protect the reserve, either by entering a bid in response to salesroom, telephone or absentee bids. Under no circumstances will the auctioneer place any bid on behalf of the consignor above the reserve. The auctioneer will not specifically identify bids placed on behalf of the consignor to protect the reserve.
During live Auctions, internet bids can be placed in real time through one or more of the following Third Party services: www.liveauctioneers.com, www.invaluable.com and www.icollector.com. RR Auction is not responsible or liable for any problems, delays, or any other issues or problems resulting out of use of the Internet generally or specifically, including but not limited to transmission, execution or processing of bids. RR Auction treats any third-party site bids as floor or telephone bids. Floor bids and telephone bids are always considered first over third party sites bids, and floor bids are considered earlier than telephone bids. All RR Auction lots purchased through the third party sites carry an additional Buyer’s Premium.
Miscellaneous:
Agreements between Bidders and Consignors to effectuate a non-sale of an item at Auction, inhibit bidding on a consigned item to enter into a private sale agreement for said item, or to utilize RR Auction's Auction to obtain sales for non-selling consigned items subsequent to the Auction, are strictly prohibited. If a subsequent sale of a previously consigned item occurs in violation of this provision, RR Auction reserves the right to charge Bidder the applicable Buyer's Premium and Consignor a Seller's Commission as determined for each auction venue and by the terms of the seller's agreement.
Acceptance of these Terms and Conditions qualifies Bidder as a client who has consented to be contacted by RR Auction in the future. In conformity with "do-not-call" regulations promulgated by the Federal or State regulatory agencies, participation by the Bidder is affirmative consent to being contacted at the phone number shown in his application and this consent shall remain in effect until it is revoked in writing. RR Auction may from time to time contact Bidder concerning sale, purchase, and auction opportunities available.
Rules of Construction: RR Auction presents properties in a number of collectible fields, and as such, specific venues have promulgated supplemental Terms and Conditions. Nothing herein shall be construed to waive the general Conditions of Sale by these additional rules and shall be construed to give force and effect to the rules in their entirety.