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LIONEL "027" Gauge loco and tender, 1953, the locomotive No. 2055 with smoke chamber and pellets,...
Currency:USD
Category:Everything Else / Other
Start Price:NA
Estimated At:250.00 - 450.00 USD
NOT SOLD (BIDDING OVER)
0.00USD+ applicable fees & taxes.
This item WAS NOT SOLD. Auction date was 2002 Jun 09 @ 09:00UTC-8 : PST/AKDT
LIONEL "027" Gauge loco and tender, 1953, the locomotive No. 2055 with smoke chamber and pellets, the tender No. 6026W with whistle, in original boxes. Very good condition, missing red jewel running light. Marked. 250 - 450
Auction Location:
United States
Previewing Details:
. Sunday, June 2 through Saturday, June 8 from Noon to 5 p.m. and the morning of the sale fom 9:00 a.m. to 11:45 a.m.
Additional Fees:
Shipping Details:
The purchaser is responsible for the shipment of all purchased property. As a convenience to the purchaser, the Auction House will, if requested, pack and ship or arrange shipment for you almost anywhere in the United States, fully insured, for a fee.
Payment Details:
Cash. Check. Wire Transfers. PayPal. Visa, MasterCard and Discover for those presenting cards in person only. There is a $25,000 limit on purchases made by credit card. All payments are due upon receipt of invoice. We reserve the right to hold all goods paid for by check until payment has cleared.
<p><b>Terms of Sale</b>
<p>David Rago Auctions, Inc.
609-397-9374 (p) • 609-397-9377 (f)
Craftsman Auctions
David Rago Modern Auctions, LLP
(Hereafter referred to as "the Auction House")
<p>All bidders are responsible for reading and understanding these Terms of Sale, as well as any supplemental notices. If you have any questions after having read the Terms of Sale, please contact the C.O.O., Miriam Tucker, at mtucker@ragoarts.com or 609.397.9374, extension 41. No communications by any employee of the Auction House is intended to be binding, and such communications are made for informational purposes only.
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1. General
Each lot in this catalogue is offered for sale subject to the terms set out below, as changed or supplemented by provisions a) written in other places within these Terms of Sale, b) in written supplements to this Catalogue or other materials prepared by us and c) as stated by the auctioneer or posted in writing at the auction, prior to a bid being accepted for a lot. By bidding at the auction the buyer and all bidders agree to be bound by these terms or those changed and supplemented, whether bidding in person, through a representative, by phone, by internet, or other absentee bid. The Auction House retains all rights to copyright and other intellectual property contained in this catalogue.
Sales Results: Results will be available by phone and on the web at www.ragoarts.com. Sales results will be available no earlier than 10:00 am on the Tuesday following the auction or as soon as the Auction House has audited and verified all sales. Please do not call prior to this time for results, as they will not be given out under any circumstances. We thank you for your understanding in this matter.
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2. Buyer’s Premium, Purchase Price, Taxes, and Billing
Buyer’s Premium:
All bidding at auction and all purchases will be in U.S. Dollars. A buyer’s premium in the amount of 15% of the successful high bid will be added to the amount of the successful bid price for all lots purchased at auction.
Purchase Price: Upon the announcement by the auctioneer, the successful bidder becomes the purchaser and is responsible for the amount of the successful bid, the buyer’s premium, applicable taxes, and other charges provided for in the Terms of Sale.
Taxes: Applicable taxes shall include New Jersey sales tax (6%), use tax, excise tax, and other taxes or levies. Only valid resale certificates are accepted as proof of exemption from New Jersey sales tax by U.S. dealers. No New Jersey sales tax is charged for purchases shipped out of state.
Billing: All successful bidders will be sent invoices by mail on the Tuesday after the auction.
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3. Methods of Payment and Fees
Acceptable methods of payment: Cash. Check. Wire Transfers. Visa, MasterCard and Discover for those presenting cards in person only. There is a $25,000 limit on purchases made by credit card. All payments are due upon receipt of invoice. We reserve the right to hold all goods paid for by check until payment has cleared.
Late Payment Charge: If payment is not received within thirty (30) days of sale, The Auction House reserves the right to impose from the date of sale a late charge of 1 1/2% a month of the total purchase price and deny all future credit.
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4. Qualifying to Bid
Bidding Numbers: All bidders must register and receive a bidding number from the Auction House prior to bidding at the auction.
New Buyers: If you are not known to us, you may be asked to furnish identification, a valid credit card number, and, possibly, credit references. If you are acting as another’s agent or principal, we may request a letter of authorization. If paying by check, you must establish credit with Eliane Talec, extension 18, at least three (3) business days prior to the auction. A letter from your bank, presented before the sale, may also be accepted, at our discretion, although we will retain your purchase(s) until the check clears. If you are successful and do not remit payment within thirty (30) days, the balance will be charged to your credit card together with such charges set forth in these terms of sale.
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5. Bidding Increments
$10 until $100 is reached
$25 until $500 is reached
$50 until $1,000 is reached
$100 until $3,000 is reached
$250 until $5,000 is reached
$500 until $10,000 is reached
$1,000 until $20,000 is reached
$2,500 until $40,000 is reached
$5,000 until $100,000 is reached
$10,000 over $100,000
<p>The auctioneer has the sole and exclusive power, discretion, and authority to regulate the bidding and its increments.
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6. Absentee Bids
We accept absentee bids by phone, by mail, in person, or by fax. Absentee bids are requested by no later than 6:00 p.m. on the Friday before the auction. If you fax your absentee bids, please call us to confirm receipt. All absentee bidding is handled as though you are in attendance. We will buy all designated lots for you at the bidding increment just above where competition stops. Please check and comply with these increments. In case of failure to comply, we will reduce each off-increment bid to the next lower figure. All unreserved bidding starts at 50% of the low estimate unless there are two or more competing absentee bids at a price higher than that. (For example, a lot estimated at $500–$750, with no reserve, will normally open at $250. If there are two absentee bids for $400 and $600, the lot must sell for $425, even if there is no further bidding from the phone, later absentee ballots, or from the live audience. In such a case, we will open the bidding at close to the low estimate.) "Plus" bids: Because of our structured bidding increments, it is more likely that several people will leave identical bids. Since an earlier bid wins in the event of a tie, a later bid with an added "plus" bid to the next increment would win the piece. All absentee bidder names and bids are held in strictest confidence, disclosed only in the event of a question after the sale. Absentee bidding is a convenience offered to our customers and, while we will make every effort to execute your instructions, the Auction House is not liable or responsible for any errors or failure to do so. If you place absentee bids with the Auction House, then choose to attend in person, bid by phone or by any other means, it is solely your responsibility to cancel any or all absentee bids prior to the start of the auction. The Auction House is not liable or responsible for any errors or failure to do so.
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7. Telephone Bids
Lines are available on a first-come, first-served basis – please reserve as soon as you are able. We must hear from you no later than 12 noon on the Friday before the auction. Please call Ramona Hillier-O’Hara, extension 14, to set up all phone line requests. Do not fax phone line requests. Determine the lots on which you most want to bid before calling and reserving the lines. If you need condition reports, please request and review them prior to reserving phone lines. We will call you at one phone number ONLY during the auction. If you are unsure of where you or your agent will be during the sale, we recommend you leave absentee bids. All requests for overseas telephone lines must be accompanied by absentee bids, which will be executed on the buyer's behalf, should there be any problems with telephone connections. Your phone number and lots will be confirmed the day before the auction. Please do not change your phone number after your phone lines have been confirmed; if you do, the Auction House reserves the right to not allow you to bid by telephone in that auction and will not be responsible for any breakdown in communications. We strongly recommend land lines, as, to date, they are more reliable than cellular phones. One of the reasons people bid by phone is to monitor how much they're spending. However, if you bid by phone, you must be willing to bid to the low estimate should the bidding go that far. There is no exception to this rule. You may, however, leave absentee bids for any amount. Bids are placed on the telephone at the discretion of the Auction House and at the caller’s risk. Telephone bidding is a convenience offered to our customers and, while we will make every effort to execute your instructions, the Auction House is not liable or responsible for any errors or failure to do so.
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8. Auctioneer’s Determination Final
A lot will be sold to the highest bidder as determined in the sole and exclusive judgment of the auctioneer. The auctioneer will also have the sole and exclusive power and authority to a) resolve any disputes between bidders, b) determine whether to pass or re-offer a lot for sale, c) reject or challenge any bid or advance in the bidding, and d) otherwise regulate the bidding and its increments.
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9. Reserves
A reserve is the confidential minimum price established by the Auction House and the consignor. The reserve will never exceed the low estimate of the lot. The Auction House prohibits consignors from bidding on their own property, but may implement the reserve by bidding on behalf of the consignor at the auction up to the reserve. If bids on a lot fail to reach the reserve, the lot will be bought-in.
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10. Estimates
The estimates provided in this catalogue are our opinion of the price that a willing buyer would pay for the property at auction. These estimates are opinion, based, where possible, on prices paid for comparable items sold in the past. They are neither a representation nor a prediction of the actual selling price that will be realized at auction, post-auction sale, or upon resale, which may be substantially different from these estimates. We shall not be liable in any way for such a difference.
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11. Withdrawal of Property from Sale
The Auction House reserves the right to withdraw property from the sale for any reason and with no liability whatsoever for such withdrawal.
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12. Warranties and Guarantees
All items are served "as is, where is," except as expressly stated otherwise in this paragraph.
General: All information in the catalogue concerning: age, authenticity, genuineness, condition, quantity, period, culture, source, or origin is warranted by the Auction House for a period of thirty (30) days from the date of sale by the Auction House except as excluded below. This warranty extends to only the original buyer of record (that is, the registered bidder). Size is approximate. All ceramic and glass lots are represented as being free of cracks, chips, hairlines and repairs, unless otherwise stated. All wood and hardware are represented as original, as are all markings, unless otherwise stated. The terms "perfect," "mint," and "pristine" indicate that the lot is in the same condition that it was at time of manufacture. Pieces that are, in our opinion, refinished, are described as such.
Exclusions and Limitations: This Warranty does not cover:
a) Normal wear on furniture not described as "perfect," "mint," or "pristine";
b) Crazing on glazed and painted pottery;
c) Surface scratches, base flakes (from grinding), and manufacturing flaws including, but not limited to, clay separations, kiln flaws, stilt pulls;
d) Nicks on the high points of leaves, flowers, and stems on pottery with embossed decoration;
e) Any description which states there is a conflict of specialist opinion;
f) Any description which states (or is bracketed in a section described as) "as-is" or "not guaranteed";
g) Subsequent owners or assigns of the property, such as purchasers from, or donees of, the original buyer, and heirs, successors, beneficiaries, and assigns.
This disclaimer of liability on our part applies whether the information is included in the catalogue, advertisements, announcements, or communicated through our representatives, bills of sale, or elsewhere, and whether written or oral.
No Warranty of Reproduction: Neither we nor the consignor make any warranty or representation, express or implied, as to whether a purchaser will acquire any reproduction rights, copyrights or other intellectual property rights in, or with respect to, the Property.
The Auction House makes no warranties, express or implied, as to the merchantability or fitness for purpose except as otherwise expressly stated in these Terms of Sale.
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13. Condition Reports
Condition reports are statements of expert opinion by the staff of the Auction House and/or independent consultants. If you would like condition reports for items in the sale, please call (609) 397-9374 on Monday, Wednesday, or Friday during preview week between 2:00 p.m. and 5:00 p.m. Otherwise, please fax/mail the condition report form and you will be called prior to 5:30 p.m. on the Friday before the auction. Please be patient. We get many requests and we make every effort to respond to all of them in a timely fashion. The Auction House is not liable or responsible for any errors or failure to do so.
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14. Rescission by Purchaser
If within a reasonable time, not to exceed thirty (30) calendar days after the sale, the original purchaser a) gives written notice to the Auction House alleging that the age, authenticity, genuineness, condition, quantity, period, culture, source, or origin as set forth in the terms of sale and warranted by the Auction House were grossly and materially inaccurate and misleading and substantially overstated the value of the Property, and b) receives written permission to return the Property from the Auction House and c) returns the Property with five (5) days of receiving this permission and in the same condition it was in at the time of sale and d) proves the truth of such allegations to the satisfaction the Auction House, the sale of such lot will be rescinded. If the Auction House has not yet paid the consignor the amounts due as a result of the sale to the purchaser, the Auction House will refund the full purchase price to the purchaser. Refunds shall not include costs of transportation, insurance, or other expenses that may have been incurred by the purchaser. If the Auction House has paid the consignor the amounts due consignor as a result of the sale, the Auction House will (i) refund to the purchaser the amount of the buyer’s premium and applicable taxes received from the purchaser, and (ii) make written demand upon the consignor for the payment of the balance of the purchase price. If the consignor fails to honor the written demand for a refund of the balance of the purchase price, the Auction House shall immediately furnish purchaser the name and address of the consignor, and shall assign to purchaser all of the Auction House’s rights for the return of the balance of the purchase price of the affected lot. Upon this disclosure and assignment, the Auction House shall have no further liability to purchaser or responsibility to pursue the purchaser’s claim. The Auction House will extend reasonable cooperation to purchaser, provided that such cooperation does not require out-of-pocket expenditures by the Auction House. This limited right of rescission is available only to the original purchaser and may not be relied upon by any heir, agent, transferee, assign, or other third party or assigned to any subsequent transferee of the Property which gives rise to the claim. Purchaser acknowledges and expressly agrees that the provisions of the paragraph state the sole and exclusive remedy available to a purchaser in the event of nonconformity in Property purchased. The purchaser understands and agrees that the exclusive remedy for any breach of the warranty shall be a rescission of the sale and a refund of the original purchase price (bid plus buyer’s premium), as well as any applicable taxes paid. Neither the Auction House nor its consignor shall be liable for damages beyond the remedy expressly provided for herein, such as, but not limited to, direct, indirect, special, incidental, punitive, or consequential, including the loss of profit or revenue, cost of obtaining alternative property, claims of customers of the purchaser or otherwise.
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15. Rescission by the Auction House
In the event the Auction House receives notice of an adverse claim with respect to purchased Property, the Auction House shall have the right (but not the obligation), in its sole and absolute discretion, to rescind the sale to the purchaser, upon written notice to the purchaser. Upon such notice, the purchaser will promptly return the purchased property to the Auction House’s premises in the same condition as when purchased. The Auction House will then promptly refund the purchase price, including the buyer’s premium and applicable taxes paid. Purchaser will have no further recourse against the Auction House or the consignor, and the Auction House and the consignor shall not be liable for any damages of any nature suffered by the purchaser.
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16. Payment, Collection, and Shipping Responsibilities of Purchaser
Purchaser Obligations: On the fall of the auctioneer’s hammer, title to the property immediately transfers to the successful bidder who, in turn, becomes the purchaser of the Property. The purchaser assumes full risk and responsibility for the purchased Property, including all costs and expenses of handling, shipping, insurance, taxes, export, and otherwise, and is liable for the full purchase price, plus the buyer’s premium, applicable taxes, and any other associated expenses.
Collection of Property and Storage Charges: The purchaser will pay for and remove the purchased Property from the premises of the Auction House within thirty (30) days of the sale. If the purchased Property is not removed in this time, the purchaser will thereafter be assessed a $10 per lot storage charge per day. The Auction House may, at its discretion, remove the purchased Property to public storage at the purchaser’s risk and expense. All associated charges will be added to the total invoice and must be paid in full before the Property will be released.
Packing and Shipping: The purchaser is responsible for the shipment of all purchased Property. As a convenience to the purchaser, the Auction House will, if requested, pack and ship or arrange shipment for you almost anywhere in the United States, fully insured, for a fee. Shipments are usually made within fourteen days after payment has been received. A separate invoice covering shipping charges will be sent after shipment of merchandise. (If you have any shipping preference for any reason, please make sure your shipper carries insurance. We are not responsible for any damage or loss that occurs while your objects are in another’s care. We will also not be responsible for any damage or loss that occurs if you choose a shipping method that we have advised against and we will require a waiver from you acknowledging this.) Shipping smalls: A "small" is anything that can be shipped by common carrier such as UPS, Federal Express, or the U.S. Mail service. The Auction House ships smalls via UPS, fully insured, for an additional fee covering labor and materials. Packages are sent ground to any destination that can be reached in three days or less by UPS or three-day air UPS if beyond that. FedEx can be used if you are in a hurry and have an account with them that you wish to charge. (Note that FedEx does not insure antiques with a value in excess of $500.) The U.S. Post Office is used only if we are delivering to a P.O. Box address or a rural route or, in select cases, by special request. Shipping larger items: Larger items are objects such as furniture, andirons, floor vases, or any other item whose safe packing will exceed the limits of common carriers. Again, we can arrange delivery by freight almost anywhere in the United States, fully insured, for a fee. The delivery of large, heavy, or expensive objects is not an inexpensive proposition and we urge you to consider this before bidding. We will work with any shipper of your choosing.
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17. Purchaser Default
Remedies: If any of the Terms of Sale are not fully complied with by the purchaser, the purchaser will be in default without need of notice by the Auction House. The purchaser shall be liable to the Auction House and the consignor for the total purchase price, including all premiums, charges, and expenses specified in the Terms of Sale. Interest shall accrue at the rate of 18% per annum commencing with the date of the auction. In addition to other remedies available to the Auction House by law, the Auction House may, at its option, a) cancel the sale of the lot(s) on which the purchaser defaulted and of any other lots sold to the defaulting purchaser at the same or any other auction(s) and retain as liquidated damages all payments made by the purchaser, b) resell the purchased Property, whether at public auction or private sale, or c) pursue any combination of a) and b) above. In event of default, the purchaser will be responsible to the Auction House and the consignor for any deficiency, any and all costs and expenses, including reasonable attorneys’ fees, collection fees and expenses, late charges, and other damages. The Auction House may, at its discretion, apply any proceeds of sale otherwise due to the purchaser or monies of the purchaser in the Auction House’s possession to reduce or satisfy the purchaser’s obligations.
Security Interest: As security for full payment to the Auction House and the consignor of all amounts due, the purchaser grants the Auction House the right to retain a security interest in the Property purchased at auction and in any other property or money of purchaser in the Auction House’s possession or coming the Auction House’s possession (collectively, "collateral"). The Auction House shall have the rights of a secured creditor as provided by the Uniform Commercial Code and other applicable law. Such security interest in the Property or other collateral will cease when the Property is physically delivered to the purchaser or the purchaser’s agent.
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18. Governing Law and Forum for Disputes
The laws of New Jersey shall govern the auctions of the Auction House. Any disputes that may arise in connection with the auction and/or any auction purchase, and all of the terms and conditions set forth herein above, shall be governed by and construed in accordance with New Jersey law. Any one who participates in the auction and/or makes auction purchases agrees to submit to the jurisdiction of the courts of the State of New Jersey with respect to any dispute arising in connection with the auction and/or any auction purchases. In the event that the Auction House needs to bring an action to enforce the terms and conditions herein and/or to collect any sum due and owing to it the Auction House shall be entitled in addition to collect its reasonable attorney's fees, collection agency fees, and cost of suit.
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19. Limitations of Liability
The Auction House acts only as the agent for the consignor and in no event will be liable for any breach or default by the consignor.
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20. Severability and Waiver
If any provision of portion of these Terms of Sale shall be deemed unlawful, void, or unenforceable under applicable law, that provision or portion shall be stricken and severed from the remaining provisions which shall remain in full force and effect. Failure to enforce any of the provisions in these Terms of Sale shall not be deemed a waiver of the right to enforce any other provisions of these Terms of Sale.
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21. No Assignment
Unless the Auction House consents in writing, purchasers may not assign their rights or any of their obligations related to an auction or other sale by the Auction House.
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22. No Modifications
These Terms of Sale may not be changed unless the Auction House and purchaser have agreed to do so in a written agreement signed by both parties.
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23. Miscellaneous
Export or Import: An export license may be required for the export of certain materials. Some countries prohibit the importation of certain materials. It is the sole responsibility of purchasers to familiarize themselves with any required license and import/export requirements. The Auction House will have no responsibility with regard to these matters.
Private Sales: These Terms of Sale shall apply to both auction and private sales of property.
Paragraph Headings: Paragraph and subheadings are included in these Terms of Sale for ease of reference and should not be used to interpret the meaning of the substantive provisions.