214
Property from a private collection, Marc Newson, "Bucky," 1995, from the "Bucky" installation, fo...
Currency:USD
Category:Everything Else / Other
Start Price:NA
Estimated At:2,000.00 - 3,000.00 USD
NOT SOLD (BIDDING OVER)
0.00USD+ applicable fees & taxes.
This item WAS NOT SOLD. Auction date was 2003 Jun 11 @ 14:00UTC-05:00 : EST/CDT
Property from a private collection
Marc Newson
"Bucky," 1995
from the "Bucky" installation, for the Cartier Contemporary Art Foundation, Paris
manufactured by Marc Newson in
an edition of 50; polyurethane foam electrostatically upholstered
21 5/8 in. (55 cm) high
Estimate: $2,000-3,000
Illustrated
Elle Décor, May 1995, p.17
Casa Vogue, April 1995, pp. 22-23
Literature
Alice Rawsthorn, Marc Newson, London,
1999, pp. 118-121
"I'd been reading about this revolutionary new molecule, called the Buckminster Fullerene, or 'Bucky' for short because it looked like one of Buckminster Fuller's geodesic domes. And I loved the idea of him as this nutty designer-inventor-engineer: describing himself as an astronaut from Spaceship 'Earth.'" (Alice Rawsthorn, Marc Newson, London, 1999,
p. 119)
Auction Location:
United States
Previewing Details:
Friday, June 6, 2003, 10am to 5pm - Saturday, June 7, 2003, 10am to 5pm - Sunday, June 8, 2003, 1Pm to 5pm - Monday, June 9, 2003, 10am to 5pm - Tuesday, June 10, 2003, 10am to 5pm
Additional Fees:
Shipping Details:
No Info Available
Payment Details:
No Info Available
1 APPLICABLE TERMS AND CONDITIONS
Each lot in this Catalogue will be offered for sale subject to the terms and
conditions set forth below,as changed or supplemented by provisions (i)
written in other places in this Catalogue,(ii)written in supplements to this
Catalogue or other written material prepared by us,and/or (iii)as stated by
the auctioneer or posted in writing at the time of auction,prior to a bid being
accepted for the lot.In offering property for sale,we are acting solely as agent
for the consignor,unless otherwise indicated in this Catalogue or at the time
of auction.By bidding at the auction,whether in person,through an agent,
by written bid,by telephone bid,or by other means,the buyer and all
bidders agree to be bound by these terms and conditions,as changed or
supplemented as provided in this paragraph .
<p>2 DEFINITIONS
The use of “we,”“us,”“our ”or “PHILLIPS ”in this Catalogue refers to Phillips
Son &Neale Auctions,Ltd.,a United Kindom corporation d/b/a PHILLIPS ,
de PURY &LUXEMBOU G ,through a New York branch,and the use of
“buyer ”refers to the person or entity buying property at the auction or at a
private sale.“Standard Terms and Conditions ”refers to these terms and
conditions,as changed or supplemented in the ways mentioned in Paragraph
1 above.The “consignor ”refers to the seller(s)and any party(ies),acting as
agent for the seller(s)in consigning the Property to us for sale.A “lot ”refers
to the lot in which Property is grouped by us.“Property ”refers to each item
of property listed for sale at auction or by private sale.The “reserve ”refers
to the minimum price at which the Property is to be sold,and does not include
commissions or taxes,if any.
<p>3 WARRANTY INFORMATION;BUYER ’ S REMEDIES
Limited Warranty;Sole Remedy:The authorship of fine art is warranted only
as set forth in the Authorship Warranty appearing in this Catalogue.The
meaning of “fine art ”and “authorship ”is also set forth in the Authorship
Warranty.Buyer ’s sole rights and remedy for any nonconformity shall be
as expressly set forth in the Authorship Warranty and as provided in this
Paragraph 3 ,whether the claim arises in contract,warranty,tort,negligence,
strict liability or otherwise.
Disclaimer of Warranties:Except for rights that the buyer receives under the
Authorship Warranty,
<p>(i)all Property is sold “AS-IS,WHERE-IS AND WITH ALL FAULTS,”and
neither we nor the consignor make any guarantees,warranties or
representations,express or implied,with respect to the Property,
except as to warranty of title.All implied warranties of
MERCHANTABILITY and FITNESS FOR PURPOSE ARE SPECIFI-
CALLY DISCLAIMED by us and the consignor;
<p>(ii)specifically,neither we nor the consignor make any representation or
warranty of any kind,express or implied,with respect to any of the
following characteristics of the Property:age,authenticity,genuineness,
attribution,provenance,origin,physical condition,importance,size,
quality,quantity,rarity,value,exhibitions,historical references or signif-
icance,medium,material,period,culture,source or origin;
<p>(iii)all information in the Catalogue or elsewhere,concerning the charac-
teristics mentioned in (ii)above,is offered to bidders as a statement of
opinion only.It is not intended to contain statements of fact for which
we or the consignor may be held liable.This disclaimer of liability on
our part applies whether the information is included in the Catalogue,
advertisements,announcements,or communicated through our repre-
sentatives,bills of sale or elsewhere,and whether written or oral;and
<p>(iv)neither we,nor the consignor,shall be responsible for the correctness
or accuracy of descriptions or other information in this Catalogue or
elsewhere.The bidder assumes the full responsibility to inspect and
evaluate the Property to its,his or her complete satisfaction prior to
any purchase.The bidder must make an independent judgment
about (a)the Property,(b)its value,and (c)descriptions or other infor-
mation about the Property ..We may,without in any way diminishing
our disclaimers of liability contained in this Paragraph 3 and elsewhere,
mention in the description of the lot significant damage,although this
does not include all faults,imperfections and restorations.In addition,
all measurements stated in the Catalogue are approximate.
<p>No Warranty of Reproduction:Neither we nor the consignor make any
warranty or representation,express or implied,concerning any rights of
copyright or reproduction in,to or of the Property.
<p>Price Estimates:The estimates provided in the Catalogue are merely our
opinion of the price that a willing buyer would pay for the Property at auction.
The actual price that might be realized at auction or upon resale of the
Property may be substantially different from these estimates.We shall not
be liable in any way for such a difference.
<p>Remedies for Breach of any Warranty:If there is any breach of a warranty,
buyer ’s sole remedy shall be to rescind the sale and receive a refund of
the purchase price,including the buyer ’s premium.This means that neither
we,nor the consignor,shall have any liability for other damages,such as
but not limited to,direct,indirect,special,incidental or consequential
damages.No refund will be made until the Property is returned at buyer ’s
expense to the premises of PHILLIPS where the Property was purchased,
in the same condition as at the time of sale.We act only as agent for the
consignor and make no independent warranty of any kind.Nothing in this
Paragraph 3 is intended to exclude any warranty of title required to be given
under the Regulations of the New York City Department of Consumer Affairs.
<p>4 THE AUCTION
Bidding by Paddle:All persons attending the auction must obtain a bidder ’s
paddle prior to bidding.The bidder must qualify to bid and may be asked to
provide a financial reference.The Auctioneer may refuse to recognize any
person without a bidder ’s paddle.If you are not able to attend the auction
you may submit an Absentee Bid.
<p>Absentee Bids:As a convenience to buyers who cannot attend a sale in person,
we may,if so instructed,execute written absentee bids on a buyer ’s behalf,
without additional cost.Absentee bidders are required to submit bids on the
“Absentee Bid Form,”a copy of which is printed in the Catalogue or otherwise
available from us.The buyer must clearly indicate the maximum amount buyer
intends to bid,excluding the buyer ’s premium.“Buy ”bids will not be accepted.
For bidders requesting the opportunity to bid by telephone,we reserve the right
to have a completed telephone bid form on file prior to any such bidding.We
also reserve the right to require written confirmation of a successful bid from
the telephone bidder,by fax or otherwise,immediately after such bid is accepted
by the Auctioneer.Telephone bids may be recorded,and by bidding on the
telephone,bidder consents to a recording of the conversation.Absentee bids,
whether written,executed by telephone,or otherwise,is an accommodation
for the buyer,and we will not be liable for errors,omissions or failure to execute
bids.Lots are bought for absentee bidders at the lowest possible price
permitted against other bidders and the reserve.
<p>Bidding Intervals:For your convenience,bidding generally commences at
an increment below the low estimate and may proceed at the following
intervals:$1,000-3,000 by $100;$3,000-$5,000 by $250;$5,000-$30,000
by $1,000;$30,000 onward,at Auctioneer ’s discretion.
<p>Auctioneer Announcements:All terms,conditions,notices,descriptions,
statements and other matters in the Catalogue and elsewhere concerning
any lot may be changed or added to by the Auctioneer,prior to any bid being
accepted for the lot.
<p>RESERVES:ALL LOTS ARE OFFERED SUBJECT TO A RESERVE
UNLESS OTHERWISE INDICATED BY THE SYMBOL •.WE (OR THE
AUCTIONEER)MAY IMPLEMENT THE RESERVE BY BIDDING ON
BEHALF OF THE CONSIGNOR AT THE AUCTION.THIS MEANS THAT WE
(OR THE AUCTIONEER)MAY OPEN THE BIDDING ON ANY LOT BY
PLACING A BID ON BEHALF OF THE CONSIGNOR.WE OR THE
AUCTIONEER MAY FURTHER BID ON BEHALF OF THE CONSIGNOR BY
PLACING SUCCESSIVE OR CONSECUTIVE BIDS FOR A LOT,OR BY
PLACING BIDS IN RESPONSE TO OTHER BIDDERS UP TO THE AMOUNT
OF THE RESERVE.THE RESERVE,WHICH IS CONFIDENTIAL,IS
DETERMINED BY AGREEMENT WITH THE CONSIGNOR AND MAY
EQUAL,BUT WILL NOT EXCEED,THE LOW ESTIMATE OF THE LOT.IF WE
HAVE AN INTEREST IN A LOT OTHER THAN OUR COMMISSION,WE MAY
BID UP TO THE RESERVE TO PROTECT SUCH INTEREST.
<p>Sale to the Highest Bidder:A lot shall be sold to the highest bidder deter-
mined by the Auctioneer,subject to the terms and conditions of sale.Title
to the lot shall pass upon the fall of the Auctioneer ’s hammer.The buyer shall
be obligated to pay the purchase price,including buyer ’s premium and appli-
cable taxes,as set forth in the terms and conditions.Upon title passing to
buyer,buyer assumes all risk of loss and damage to the Property and all
responsibility with respect to the Property,such as but not limited to the
obligations,costs and expenses for handling,shipping,insurance,taxes
and export of the Property.
<p>Discretion:The Auctioneer has the right to:(i)reject any bid,(ii)refuse
to acknowledge any bidder,(iii)challenge bids,(iv)withdraw a lot from sale
or pass the lot,(v)reject any advance in the bidding if the Auctioneer deems
it insufficient,and (vi)otherwise regulate the bidding and its increments.In the
event of a dispute between bidders,the Auctioneer has the absolute right
to determine the successful bidder or to re-offer the lot in dispute.If any dispute
arises after the sale,PHILLIPS ’sales records shall be deemed conclusive.
We also reserve the right to divide any lot and to combine any two or more lots.
The discretion of the Auctioneer as described in this Paragraph 4 may be fully
exercised in the absolute discretion of either PHILLIPS or the Auctioneer,without
liability of any kind on the part of PHILLIPS or the Auctioneer.
<p>5 URCHASE AND AYMENT
Purchase Price;Buyer ’s Premium;Taxes:The purchase price to buyer for
the lot shall be (i)the amount of the successful bid price,plus (ii)a premium
of 19.5%on the first $100,000 of the successful bid price,and 10%on any
portion of the price which exceeds $100,000.In addition,buyer shall pay all
applicable sales,use,excise and other taxes,whether federal,state or local.
For U.S.dealers,only valid resale certificates will be accepted as proof of
exemption.All foreign buyers should contact the Accounting Department
about tax matters.Purchases will not be released to a buyer unless all tax
requirements are satisfied.Payment for accommodation services,such as
packing,handling,insurance,shipping or other services requested by the
buyer shall be made as provided in Paragraph 6 below.
Payment:Buyers are required to pay for successful purchases immediately
following the auction unless other arrangements are agreed to in writing
in advance of the auction.
All payments must be made in United States dollars.Acceptable payment
options are as follows:
<p>(i)when paying in cash,payments should be made in person at the Client
Accounting Desk at 450 West 15 Street during business hours.Proof
of identity is required.Please note that PHILLIPS is obligated to report
to the Department of Treasury any cash or cash equivalent in excess
of $10,000.
<p>(ii)money orders,bank checks and personal checks are accepted with
a valid driver ’s license.Checks should be made payable to “PHILLIPS
SON &NEALE AUCTIONS LIMITED ”for the total amount due.If payment
is made by mail,please send the checks to the attention of the Client
Accounting Department at PHILLIPS ,450 West 15 Street,New York,
New York 10011 and ensure that the sale number is written on the
check.We reserve the right to withhold delivery of the Property until
funds represented by check have been collected or credited or the
authenticity of bank or cashier ’s checks has been determined.Payment
will not be deemed to have been made until we have collected funds
represented by checks or other instruments.Checks drawn by third
parties will not be accepted.
<p>(iii)Payment in United States dollars by wire transfer may be sent directly to:
JP Morgan Private Bank
35 East 72nd Street
New York,NY 10021
ABA #021 000 021
For the account of
PHILLIPS SON &NEALE AUCTIONS LIMITED
#967-33-6813
<p>Please reference the relevant sale number,lot number,and the buyer ’s
bid number.
<p>6 REMOVAL OF PROPERTY ;LATE CHARGES ;WORK OF OTHERS
Collection of Purchased Property.Details are located under the section titled
Special Terms and Conditions.No purchase may be claimed or removed
until it has been fully paid for,unless otherwise agreed to by PHILLIPS in
writing.All authorized lots should be removed at the purchaser ’s risk and
expense no later than 5:00 pm of the next business day after the sale.When
full payment is received,the buyer will receive a “Collection Order.” This is
buyer ’s proof of payment and must be presented when collecting purchases.
<p>Storage and Late Payment Charges.After 35 days,an administrative fee of
$45 and a storage fee of $5 per day per lot will be charged.We reserve the
right to charge a late payment fee of 1_1/2%per month on the purchase price
if payment is not received on time as provided in these Standard Terms and
Conditions.We also reserve the right to place Property in public storage,
in which case buyer shall be charged the amount of such storage and
appropriate insurance,and other reasonable costs associated with storage
of the Property.
<p>Accommodation Services:Any packing,handling,insurance,shipping or
other services,which we agree to provide or arrange for,are recommended
or furnished only as a courtesy to the buyer.All costs and risks associated
with such services shall be fully assumed by the buyer.The costs of such
services shall be paid in advance or promptly reimbursed to us,at our
discretion.We shall not under any circumstances be liable for acts or
omissions of packers,handlers,carriers or others,even if their acts or
omissions result in loss of or damage to Property.
<p>Export and Import Matters:An export license issued by the U.S.Fish and
Wildlife Service or other U.S.federal agency may be required for the export
of any item made of or incorporating (irrespective of percentage)animal
material,such as but not limited to,ivory,whalebone,rhinoceros horn or
tortoiseshell.Bidders are advised that some countries completely prohibit
the importation of property containing such materials.Accordingly,prior to
bidding,bidders considering export of the Property should familiarize
themselves with relevant export and import regulations of the countries
concerned.It is solely the buyer ’s responsibility to comply with these laws
and to obtain any necessary export and import licenses.Failure to obtain
a license or delay in doing so shall not constitute a basis for rescission
or cancellation of a purchase or delay in making payment for a purchase.
<p>7 BUYER ’S BREACH
Remedies Upon Buyer ’s Breach:If buyer fails to comply with any of its
obligations,buyer will be in default.In that case,the buyer will be liable for
the full purchase price,including fees and charges.In addition,at our option
we may (i)cancel the sale of the lot(s)on which buyer is in default and on all
other lots sold to buyer,and keep all payments made by buyer as liquidated
damages,(ii)resell the lot(s)at private or public sale,without reserve,and
(iii)exercise any other rights given by law.In any event,we shall be entitled
to recover from the defaulting buyer any amounts that remain due us on the
purchase price,together with all fees and charges.We shall also be entitled
to recover all damages,including costs of collection incurred in connection
with buyer ’s default.These costs of collection include,but are not limited to,
handling charges,normal sales commissions and expenses (on both the
sale for which buyer defaulted,and on any resale),and reasonable attorneys ’
fees and expenses.
<p>Security Interest:As security for full payment to us of all amounts due from
buyer,PHILLIPS retains,and the buyer grants to PHILLIPS ,a security interest
in the Property purchased by buyer at auction and in any other property or
money in our possession or coming into our possession.We may apply such
money or deal with such property as the Uniform Commercial Code or other
applicable law permits a secured creditor to do.This security interest shall
cease upon actual physical delivery of the property to buyer or buyer ’s agent.
<p>8 PRIVATE SALES
These Standard Terms and Conditions shall also apply to any private sale
by us of Property.
<p>9 RESCISSION BY US
If an adverse claim is asserted with respect to Property purchased by a buyer,
we shall have the right,but not the obligation,to rescind the sale.Upon notice
of our election to rescind the sale,the buyer will promptly return the Property
to our premises in the same condition as at the time of purchase.We will
then refund the purchase price and buyer ’s premium.The refund shall
constitute the sole remedy and recourse of buyer against us and the
consignor with respect to such claim.
<p>10 LIMITATION OF LIABILITY
We are acting as agent only in connection with sale of Property.We disclaim
any responsibility for a breach or default by the consignor,except as
specifically stated above.In no event will our liability for any breach,act or
omission (including,but not limited to,any breach of the Authorship Warranty
or any breach of a warranty of title)exceed the purchase price actually paid
by buyer.BUYER AGREES THAT WE SHALL HAVE NO LIABILITY UNDER
ANY CIRCUMSTANCES FOR INDIRECT,SPECIAL,INCIDENTAL OR
CONSEQUENTIAL DAMAGES ,whether in contract,warranty,tort,strict
liability,negligence or otherwise,arising out of,resulting from,or relating in
any way to (i)the Property or its purchase,sale,delivery or non-delivery,or
(ii)the acts or omissions of us or our agents,representatives,affiliates,
officers,directors or employees.
<p>11 GOVERNING LAW;SUBMISSION TO JURISDICTION
The laws of the State of New York (excluding its conflicts of law rules)shall
be used to interpret the meaning of these Standard Terms and Conditions
and the Authorship Warranty.By bidding at an auction or otherwise
purchasing Property,whether personally or by an agent,and whether
physically present at an auction or bidding by way of written,telephone,
electronic or other bid means,BUYER CONSENTS TO THE JURISDICTION
OF (I)THE STATE COURTS OF THE STATE OF NEW YORK LOCATED IN
NEW YORK,NEW YORK,AND (II)THE FEDERAL COURTS FOR THE
SOUTHERN AND EASTERN DISTRICTS OF NEW YORK.BUYER ALSO
AGREES THAT ANY LAWSUIT BUYER MAY BRING AGAINST US WILL
BE BROUGHT ONLY (I)IN THE STATE COURTS OF THE STATE OF NEW
YORK LOCATED IN NEW YORK,NEW YORK,OR (II)IN A FEDERAL
COURT FOR THE SOUTHERN OR EASTERN DISTRICTS OF NEW YORK.
<p>12 WAIVER
Any provision of the Standard Terms and Conditions and of the Authorship
Warranty may be waived by us,provided that such waiver is in a writing signed
by one of our duly authorized officers.A waiver on one occasion shall not
be a waiver on any other occasion,nor shall any waiver of one provision affect
our ability to insist on strict performance by buyer of all other provisions.
<p>13 INFORMATION
If you need further information or have any questions about these Standard
Terms and Conditions,the Authorship Warranty or any other provisions appli-
cable to a sale,please call us at +1 212 940 1200.
<p>14 ART LOSS REGISTER
All items advertised in this catalogue for sale by auction,have,insofar as
they are uniquely identifiable from the description given,been checked
against the computerized database of stolen or lost artwork,antiques and
other cultural objects maintained by the Art Loss Register.A search certificate
can be provided by the Art Loss Register.The Art Loss Register can be
reached by post at 25-26 Albemarle Street Mayfair London W1S 4HX or by
email at artloss@artloss.com.The Art Loss Register cannot,however,
guarantee the provenance of any catalogued item against which they search,
and will not be liable for any direct or consequential losses of any nature
howsoever arising.This statement is not intended to affect,detract from,or
override Phillips ’Conditions of Sale,and in the event of any conflict the
Conditions of Sale will take priority to the terms of this statement.
<p>These Special Terms and Conditions for Sale NY050103 supplement our
Standard Terms and Conditions printed in this Catalogue,and should be
fully read prior to bidding at the auction.
<p>SYMBOLS
For the purposes of compliance with the New York City Department of
Consumer Affairs regulations,please note that PHILLIPS has a financial
interest,which may be an advance,a price guarantee and/or an ownership
interest in those lots marked with the symbol .
<p>PLACE OF AYMENT AND COLLECTION OF URCHASED ROPERTY
<p>A - Please note that payment for purchases ill be accepted during or after
the sale at PHILLIPS ’Office,450 West 15 Street,5th Floor-Client
Accounting Department,New York,NY 10011.
<p>B - No purchase may be claimed or removed unless full payment has been
received,or otherwise agreed to in writing by PHILLIPS.
<p>C - All purchased lots will be available for collection at 450 West 15 Street,
3rd Floor,New York,NY 10011 beginning on Thursday,June 12,2003.
<p>D - Purchasers may contact PHILLIPS Shipping Coordinator at +1 212 940
1368 to arrange for collection of property at PHILLIPS at 450 West 15
Street,3rd Floor,New York,NY 10011 location.As a service to our
clientele,PHILLIPS Shipping Coordinator is,subject to Paragraph 6 of
our Standard Terms and Conditions,available to assist in arranging for
collection,estimates of the shipping costs and shipment of
purchased lots.
<p>E - For packing,crating or shipping of lots,Purchasers must complete a
Shipping Instruction Form and return the form to PHILLIPS along with
payment.All shipping costs will be billed directly to the Purchaser by
the shipper.Please refer to Paragraph 6 of the Standard Terms and
Conditions for further provisions concerning these arrangements.
Purchasers have the option to choose their own shipper and should
notify PHILLIPS in writing.It is important to instruct the outside shipper
to contact PHILLIPS at least 24 hours in advance of collection in order
to provide a bill of lading and schedule pick-up.
<p>F - After 35 days,uncollected property may be placed into public storage.
Costs of storage and other charges as set forth in the Standard Terms
and Conditions shall apply and be billed by PHILLIPS .Property will not
be released until all payments due for storage and otherwise have been
paid in full.
<p>G - Descriptions with respect to multiples comply with the requirements
set forth in Article fifteen of the New York arts and cultural affairs law.
<p>PHILLIPS,de PU Y &LUXEMBOURG (“PHILLIPS ”)provides the following
limited warranty for each lot offered in the Catalogue.The Standard Terms
and Conditions shall fully apply to this warranty.
<p>Definitions:The term “authorship ”means the creator,period,culture,source
or origin of the property to the extent described in the upper case letters next
to the lot number in the catalogue (e.g.EILEEN GRAY 22).
<p>Limited Warranty:PHILLIPS warrants the authorship of Property for a period
of five years from the date of the sale by PHILLIPS ,subject to the exclusions
and limitations set forth below.This warranty only covers the original buyer
of record from PHILLIPS (that is,the registered bidder).
<p>Disclaimer:ALL OTHER WARRANTIES,EXPRESS OR IMPLIED,
INCLUDING ANY WARRANTY OF MERCHANTABILITY AND FITNESS FOR
PURPOSE ARE SPECIFICALLY DISCLAIMED BY PHILLIPS AND THE
CONSIGNOR.
<p>The provisions of Paragraph 3 of the Standard Terms and Conditions fully apply.
<p>Exclusions and Limitations.This Authorship Warranty does not cover:
<p>(i) subsequent owners or assigns of the Property,such as purchasers
from,or donees of,the original buyer,and heirs,successors,benefi-
ciaries and assigns;
<p>(ii)Property created prior to 1870,unless the Property is determined to
be counterfeit (a forgery made less than 50 years ago with an intent to
deceive)and has a value at the date of the claim under this warranty,
which is materially less than the purchase price paid;
<p>(iii)any description which states that there is a conflict of specialist opinion
on the authorship of the Property;
<p>(iv)authorship which on the date of sale was consistent with the generally
accepted opinions of specialists,scholars or other experts,despite the
later discovery of new information;
<p>(v)descriptions or dating of the Property proved inaccurate by means of
scientific methods or tests not generally accepted for use at the time
of the publication of the Catalogue,or which were at such time deemed
unreasonably expensive or impractical to use.
<p>Sole Remedy.Buyer understands and agrees that the exclusive remedy for
any breach of the Authorship Warranty shall be a RESCISSION OF THE
SALE AND A REFUND OF THE ORIGINAL PURCHASE PRICE PAID (bid
price plus buyer ’s premium).No rescission shall occur or refund is made
until buyer returns the Property to the place of purchase at PHILLIPS ’facility
in the same condition as at the time of purchase.THIS REMEDY SHALL
CONSTITUTE THE SOLE REMEDY AND RECOURSE OF THE BUYER
AGAINST PHILLIPS AND THE CONSIGNOR FOR ANY NONCONFORMITY
OF THE PROPERTY,AND IS IN LIEU OF ANY OTHER REMEDY AVAILABLE
AS A MATTER OF LAW.This means that neither PHILLIPS nor its consignor
shall be liable for damages beyond the remedy expressly provided in this
Authorship Warranty,whether such damages are characterized as direct,
indirect,special,incidental or consequential.