NOT SOLD (BIDDING OVER)
0.00USD+ applicable fees & taxes.
This item WAS NOT SOLD. Auction date was 2020 Nov 18 @ 16:30UTC-8 : PST/AKDT
Original 1795 prospectus for the North American Land Company, that speculative land scheme that not only precipitated the Panic of 1797 but bankrupted its backer Robert Morris, Declaration of Independence signer and ''Financier of the Revolution''. Over 200 years before the 2008 financial crisis that was also precipitated by land speculation, this prospectus, entitled ''Plan of Association of the North American Land Company'' serves as a cautionary tale, reading in part,
''The Subscribers Hereto having, at a great expense of money and time, with much industry acquired a large and valuable property...which have been chosen or selected (in preference to other tracts) in consideration of the good quality of the soil, advantageous position, certainty of title, and other circumstances...they now offer a plan expressed in the articles of agreement hereto annexed by which all persons who have money may, if they please, participate in the advantages resulting from the purchase, sale and improvement of these valuable estates.''
Considered somewhat of a land pyramid scheme by using assets backed by land holdings from previous speculative ventures, Morris and his partners tried to entice NALC shareholders with a guaranteed six percent annual dividend. This, however, wasn't enough to persuade investors who concluded that much of the land owned by the company (despite claims in the prospectus) had poor title and were of poor quality. The resulting land bubble precipitated the Panic of 1797 and landed Morris in debtor's prison, with the NALC finally sold at seven cents on the dollar.
Printed in Philadelphia: R. Aitken and Son, February 1795, booklet runs 25pp. with period marbled wrappers. Stamp to back wrapper identifies the copy as once belonging to Grover W. Ayers of the ''Ten Mile Square Club'', an early 20th century political action group. Booklet measures 5'' x 8''. Some light wear and very mild dampstaining, overall in very good condition.
Auction Location:
11901 Santa Monica Blvd., Ste. 555, Los Angeles, California, 90025, United States
California sales tax applies.
Taxes:
| Tax | Rate | Desc. |
| CA |
9.5% |
California Sales Tax |
Buyer's Premiums:
| From (Incl.) | To (Excl.) | Premium |
| 0.00 |
Infinite |
28% |
Additional Fees:
Shipping Details:
We do our own in-house worldwide shipping! Applicable shipping, handling and insurance charges will be added to the invoice. All items will ship with signature required, and full insurance. All items are sent via Federal Express, except for P. O. Box addresses, which will be shipped through USPS.
Payment Details:
Please remit payment by check to:
Nate D. Sanders Auctions
11901 Santa Monica Blvd., #555
Los Angeles, CA 90025
TEL: 310-440-2982
auction@natedsanders.com
Or by bank transfer to:
Account Name: Nate D. Sanders, Inc.
Bank Account #: 0021608336
Routing #: 122000496
Swift #: BOFCUS33MPK
Bank Address:
Union Bank
11661 San Vicente Blvd.
Los Angeles, CA 90049
Accepted Payment Methods:
- Money Order/Bank Draft
- Check/Cheque
- Wire Transfer
Payment & Shipping
Payment
Payment in full is due within seven (7) calendar days of the invoice date. ***Please Note: If you would like your shipment sent to an address other than the one appearing on your invoice, please inform us as soon as your payment is submitted.***
We accept Personal Check, Wire Transfer, Money Order, Cashier's Check, as payment for any winning bidders at all sales.
Shipping
We do our own in-house worldwide shipping! Applicable shipping, handling and insurance charges will be added to the invoice. All items will ship with signature required, and full insurance. Most items are sent via Federal Express, with P. O. Box addresses being sent through USPS.
International shipments: All international shipments will be sent via FedEx.
Upon winning your item(s), you will receive an invoice with our in-house shipping and handling fees included. Applicable state sales tax will be added to invoices of winner bidders in the United States. **We will ship to the address as it appears on your invoice, unless you inform us otherwise, immediately upon your receipt of invoice**
After payment has been made in full and has cleared, Nate D. Sanders Auctions will ship your purchase within 5 business days.
Please remember that the buyer is responsible for all shipping costs from the offices of Nate D. Sanders Auctions in Los Angeles, California to the buyer's door.
Terms and Conditions of Sale. Terms and Conditions
From: To: Increment:
$0 $100 $10
$100 $500 $25
$500 $1,000 $50
$1,000 $2,000 $100
$2,000 $5,000 $250
$5,000 $10,000 $1,000
$10,000 $50,000 $2,500
$50,000 + $5,000
PAYMENT: Payment in full is due within seven (7) calendar days of the invoice date. ***Please Note: If you would like your shipment sent to an address other than the one appearing on your invoice, please inform us as soon as your payment is submitted.***
We accept Personal Check, Wire Transfer, Money Order, Cashier's Check, as payment for any winning bidders at all sales.
BUYER'S PREMIUM: A total of a 28% buyer's premium will be added to the hammer price on all individual lots sold in live internet auctions. We are required to charge applicable state sales tax. Items picked up at our offices in California will also be charged the mandatory California sales tax. Shipping, handling and insurance fees will be added to the invoices for all winning lots. Delivery of purchased items will not be made unless and until full payment has been received by Nate D. Sanders Auctions, and funds have fully cleared our bank.
Full Terms & Conditions of Sale: Nate D. Sanders Auctions Terms and Conditions of Sale
ANYONE EITHER REGISTERING TO BID OR PLACING A BID ("BIDDER") ACCEPTS THESE CONDITIONS OF SALE AND ENTERS INTO A LEGALLY, BINDING, ENFORCEABLE AGREEMENT WITH THE UNIVERSITY STAMP COMPANY, INC., HEREINAFTER KNOWN AS "NATE D. SANDERS AUCTIONS" TOGETHER WITH BIDDER, THE "PARTIES"
The following terms and conditions ("Conditions of Sale") constitute the sole terms and conditions under which Nate D. Sanders Auctions will offer for sale and sell the property described in the catalog of items for auction (the "Catalog"). These Conditions of Sale constitute a binding agreement between the Parties with respect to the auction in which the Bidder participates (the "Auction"). By bidding at the Auction, whether in person, through an agent or representative, by telephone, online, absentee bid, or by any other form of bid or by any other means, Bidder acknowledges the thorough reading and understanding of all of these Conditions of Sale, all descriptions of items in the Catalog, and all matters incorporated herein by reference, and agrees to be fully bound thereby. This acknowledgement is a material term of these Conditions of Sale and of the consideration under which Nate D. Sanders Auctions agrees to these terms.
This Auction is presented by Nate D. Sanders Auctions. Internet sites are "Invaluable.com", "Live Auctioneers" and "AuctionZip". The Auction is conducted under these Conditions of Sale.
The Bidder: Bidder shall mean the original Bidder on the property offered for sale by Nate D. Sanders Auctions and not any subsequent owner or other person who may acquire or have acquired an interest therein. If Bidder is an agent, the agency must be disclosed in writing to Nate D. Sanders Auctions prior to the time of sale, otherwise the benefits of the warranty shall be limited to the agent and not transferable to the undisclosed principal.
The rights granted to Bidder under these Conditions of Sale are personal and may not be assigned or transferred to any other person or entity, whether by operation of law or otherwise without the express written assent of Nate D. Sanders Auctions. Bidder may not transfer, assign, or otherwise convey these Conditions of Sale or any of the rights herein, and such purported transfer, assignment, or conveyance shall be null and void. No third party may rely on any benefit or right conferred on any Bidder by these Conditions of Sale, and no third party is intended as a beneficiary of these Conditions of Sale.
Bids will not be accepted from minor persons under eighteen (18) years of age without a parent's written consent containing an acknowledgment of the Conditions of Sale herein and indicating their agreement to be bound thereby on behalf of the Bidder.
All Bidders must meet Nate D. Sanders Auctions' qualifications to bid. Any Bidder who is not a client in good standing of Nate D. Sanders Auctions may be disqualified at Nate D. Sanders Auctions' sole option and will not be awarded lots. Such determination may be made by Nate D. Sanders Auctions in its sole and unlimited discretion, at any time prior to, during, or even after the close of the Auction. Nate D. Sanders Auctions reserves the right to exclude any person from the Auction.
If an entity places a bid, then the person executing the bid on behalf of the entity agrees to personally guarantee payment for any successful bid.
By accepting the Conditions of Sale, Bidder personally and unconditionally guarantees payment.
Bidding: Each Bidder's determination of its bid should be based upon its own examination of the item(s) online. In any purchase or sale, the value of the item(s) is determined by the price. THE BIDDER HEREBY ASSUMES ALL RISKS OF VALUATION CONCERNING ANY AND ALL PURCHASES. NATE D. SANDERS AUCTIONS IS NOT RESPONSIBLE FOR ERRORS IN BIDDING. A Bidder should make certain to bid on the correct lot and that the bid is the maximum (plus the Buyer's Premium) that the Bidder is willing and able to pay. Since other Bidders online will be present, and since a re-offering could damage the momentum of the sale, once the hammer has fallen and Nate D. Sanders Auctions has announced the winning Bidder, such Bidder is unconditionally bound to pay for the lot, even if the Bidder has made an error.
Title to any lot remains with Consignor, any secured party of the Consignor, or assignee of Consignor, as the case may be, until the lot is paid for in full by Bidder. Nate D. Sanders Auctions reserves the right to require payment in full before delivering any lot to the successful Bidder.
It is the Bidder's responsibility and obligation to have the lots fully insured while in their possession. Bidder assumes any and all RISK OF LOSS once the lot(s) is in Bidder's possession.
By bidding in this sale, Bidder personally and unconditionally guarantees payment.
In the event of a successful challenge to the title to any goods purchased pursuant to these Conditions of Sale and the exclusive remedies provided herein, Nate D. Sanders Auctions agrees to reimburse any Bidder in an amount equal to the successful bid price actually paid by Bidder at auction plus any Buyer's Premium actually paid, in full and complete satisfaction of all claims, which once tendered by Nate D. Sanders Auctions, relieves and releases Nate D. Sanders Auctions from any responsibility whatsoever to the Bidder, even if the instrument is not cashed or is returned.
Because Invaluable.com, Live Auctioneers, and AuctionZip act only as agents, all bids submitted directly to the house are always given preference in the event of a tie. Absentee bids submitted via internet bidding services are not known to the auctioneer until the lot is opened on the day of the Auction.
In all Auctions, bids on an item must raise the current high bid according to Nate D. Sanders Auctions bidding increments specified under Auction Terms, on a per-Auction basis. Bids will be accepted in whole dollar amounts only. No "buy" or "unlimited" bids will be accepted. In a live sale, bids on an item can change at the discretion of Nate D. Sanders Auctions.
Nate D. Sanders Auctions will record the paddle number of the Bidder. If Bidder's absentee bid is successful, Bidder will be notified after the sale by mailed or emailed invoice.
Nate D. Sanders Auctions reserves the right to accept or decline any bid. Bids must be for an entire lot and each lot constitutes a separate sale. All bids are per lot unless otherwise announced. Live auction lots will be sold in their numbered sequence unless Nate D. Sanders Auctions directs otherwise. It is unlawful and illegal for Bidders to collude, pool, or agree with another Bidder to pay less than the fair value for lot(s). For live auctions, Nate D. Sanders Auctions will have final discretion in the event that any dispute should arise between Bidders. Nate D. Sanders Auctions will determine the successful Bidder, cancel the sale, or re-offer and resell the lot or lots in dispute. Nate D. Sanders Auctions will have final discretion to resolve any disputes arising after the online auction. If any dispute arises, Nate D. Sanders Auctions' sale record is conclusive.
Nate D. Sanders Auctions shall determine opening bids and bidding increments. Nate D. Sanders Auctions has the right in its absolute discretion to reject any bid in the event of dispute between Bidders or if Nate D. Sanders Auctions 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 re-offer and resell the lot in question. In the event of a dispute after the sale, Nate D. Sanders Auctions' record of final sale shall be conclusive. Nate D. Sanders Auctions also may reject any bid if Nate D. Sanders Auctions decides either that any bid is below the reserve of the lot or article or that an advance is insufficient. Unless otherwise announced by Nate D. Sanders Auctions at the time of sale, no lots may be divided for the purpose of sale.
Bidder may open, monitor, and/or raise bids at any time before the close of a lot through Invaluable.com, Liveauctioneers.com, or AuctionZip.com. To ensure proper registration, those Bidders intending to bid via the Internet must visit Invaluable.com, Liveauctioneers.com, or AuctionZip.com. and register accordingly at least one full day prior to the actual auction. Winning bidders will be notified by Nate D. Sanders Auctions. Nate D. Sanders Auctions 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 online auction catalog. The auctioneer will accept bids from absentee bidders participating by internet or by written bid left with Nate D. Sanders Auctions in advance of the auction. The auctioneer may also execute a bid on behalf of the consignor, the owner, or the house to protect the reserve, by entering a bid in response to absentee bids. Under no circumstances will the auctioneer place any bid on behalf of the consignor above the reserve which is never above the low estimate. The auctioneer will not specifically identify bids placed on behalf of the consignor to protect the reserve.
Nate D. Sanders Auctions 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.
To maximize Bidder's chance of winning, Nate D. Sanders Auctions strongly encourages the use of maximum bids. Nate D. Sanders Auctions will then bid for Bidder until the lot reaches Bidder's specified maximum. Maximum bids are strictly confidential.
Absentee bids (advance written bids submitted prior to start of the auction) are offered solely as a convenience and permitted only prior to the start of the online auction, with Nate D. Sanders Auctions' approval which shall be exercised at Nate D. Sanders Auctions' sole discretion. Neither Nate D. Sanders Auctions 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 advance bidding in any manner, Bidders must comply with all of these Conditions of Sale and the terms contained on the Registration Form.
Buyer's Premium: The Bidder acknowledges and agrees that a total of a 28% Buyer's premium will be added to the hammer price on all individual lots sold in internet live auctions (the "Buyer's Live Premium"). The Bidder acknowledges and agrees that a total of 25% will be added to the hammer price on all individual lots sold via absentee bids. Delivery of purchased items will not be made unless and until full payment has been received by Nate D. Sanders Auctions, via bank wire, money order, cashier?s check or personal check funds have fully cleared. Unless otherwise agreed in writing, signed by Nate D. Sanders Auctions, payment in full is due within seven (7) calendar days of the invoice date. Nate D. Sanders Auctions is required to charge the appropriate sales tax for items won if items won in the United States unless the purchaser possesses a sales tax exemption number. Nate D. Sanders Auctions' Buyer's Premium does not include any fees assessed by third-party internet bidding platforms. Please refer to the internet bidding platform's terms and conditions for any additional premium charged.
Payment: 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 Nate D. Sanders Auctions may require.
Payment is due upon presentment of an invoice, following the end of auction. Nate D. Sanders Auctions reserves the right to void an invoice if payment in full is not received within seven (7) calendar days of the of the invoice date. In cases of nonpayment, Nate D. Sanders Auctions' election to void a sale does not relieve the Bidder from their obligation to pay Nate D. Sanders Auctions its fees (Seller's and Buyer's Premium) on the lot and any other damages pertaining to the lot.
All payments for sales are strictly in U.S. dollars via personal checks, cashier checks, bank money orders and wire transfers, and are subject to all reporting requirements.
All deliveries are subject to good funds; funds being received in Nate D. Sanders Auctions' account before delivery of the Purchases; and all payments are subject to a clearing period. Nate D. Sanders Auctions reserves the right to determine if a check constitutes "good funds": checks drawn on a U.S. bank are subject to a ten (10) calendar day hold, and ten (10) business days when drawn on an international bank.
In the event that a Bidder's payment is dishonored upon presentment(s), Bidder shall pay the maximum statutory processing fee set by applicable state law. If Bidder attempts to pay via check and the financial institution denies the transfer from Bidder's bank account, or the payment cannot be completed using the selected funding source, Bidder agrees to complete payment.
If Nate D. Sanders Auctions refers any invoice to an attorney for collection, the Bidder agrees to pay attorney's fees, court costs, and other collection costs incurred by Nate D. Sanders Auctions. If Nate D. Sanders Auctions assigns collection to its house counsel, such attorney's time expended on the matter shall be compensated at a rate comparable to the hourly rate of independent attorneys.
Nate D. Sanders Auctions shall have a lien against the merchandise purchased by the Bidder to secure payment of the Auction invoice. Nate D. Sanders Auctions is further granted a lien and the right to retain possession of any other property of the Bidder then held by Nate D. Sanders Auctions or its affiliates to secure payment of any Auction invoice or any other amounts due Nate D. Sanders Auctions or affiliates from the Bidder. With respect to these lien rights, Nate D. Sanders Auctions 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 Nate D. Sanders Auctions and the consignor of the merchandise included on the invoice (the "Consignor"). If a Bidder owes Nate D. Sanders Auctions or its affiliates on any account, Nate D. Sanders Auctions 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. Title shall not pass to the successful Bidder until all invoices are paid in full. All checks, cashier?s checks, bank checks, or money orders are payable to Nate D. Sanders Auctions.
Shipping: Applicable shipping, handling and insurance charges will be added to the invoice. We offer several shipping options, and remain one of the few auction houses who proudly provides professional in-house shipping as an option to our clients. All items will ship with signature required, and full insurance. Most items are sent via Federal Express, with P. O. Box addresses being sent through USPS.
International shipments: All international shipments will be sent via Fed Ex.
Upon winning your item(s), you will receive an invoice with our in-house shipping, handling, insurance fees and applicable state sales tax. **We will ship to the address as it appears on your invoice, unless you inform us otherwise, immediately upon your receipt of invoice**
Title shall not pass to the successful Bidder until all invoices are paid in full.
After payment has been made in full, Nate D. Sanders Auctions will ship your purchase within 5 business days following receipt of full payment for item. Packages shipped internationally will have full value declared on shipping form. International buyers will be responsible for any customs fees incurred.
Please remember that the buyer is responsible for all shipping costs from Nate D. Sanders Auctions' offices in Los Angeles, CA to the buyer's door.
Successful international Bidders shall provide written shipping instructions, including specified Customs declarations, to Nate D. Sanders Auctions for any lots to be delivered outside of the United States.
Withdrawal of Lots and Postponement of Auction. Nate D. Sanders Auctions 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. Nate D. Sanders Auctions shall not be liable to any Bidder in the event of such withdrawal or postponement under any circumstances. Nate D. Sanders Auctions reserves the right to refuse to accept bids from anyone.
Nate D. Sanders Auctions 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.
Reserves. Lots may be subject to a reserve which is the confidential minimum price below which the lot will not be sold. We discourage consignors from bidding on their own lots or property, and if they become the winning bidder will be required to pay BOTH the buyer's premium and the sellers commission. Nate D. Sanders Auctions may also execute bids on behalf of a consignor, owner, or the house account to protect the reserve, by entering a bid in response to absentee bids. Under no circumstances will the auctioneer place any bid on behalf of the consignor above the reserve which is never above the low estimate. Please note, bidding comes from numerous platforms, including but not limited to other internet platforms, floor bids and phone bids. If a lot does not reach the reserve, it is bought-in. In other words, it remains unsold and is returned to the Consignor.
Consigned Property. Nate D. Sanders Auctions offers lots owned by the house as well as consigned items.
We discourage consignors from bidding on their own lots or property, and if they become the winning bidder will be required to pay BOTH the buyer's and the seller's commission.
Estimates. 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 Nate D. Sanders Auctions at (310) 440-2982. 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).
Failure to comply with Terms and Conditions. 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, Nate D. Sanders Auctions 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 Nate D. Sanders Auctions will be substantially damaged should such default occur, and that damages under sub-part (a) are necessary to compensate Nate D. Sanders Auctions 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 Nate D. Sanders Auctions, in its sole discretion, deems necessary or appropriate to preserve and protect Nate D. Sanders Auctions' rights and remedies. Should Nate D. Sanders Auctions 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, Nate D. Sanders Auctions shall apply the payment received to such lot or lots that Nate D. Sanders Auctions, in its sole discretion, deems appropriate. If Nate D. Sanders Auctions 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 Nate D. Sanders Auctions a security interest in, and Nate D. Sanders Auctions may retain as collateral such security for such Bidder's obligations to Nate D. Sanders Auctions, any property in Nate D. Sanders Auctions' possession owned by such Bidder.
Warranties. Nate D. Sanders Auctions 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 Nate D. Sanders Auctions 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 Nate D. Sanders Auctions 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. Nate D. Sanders Auctions 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 online Auction Catalog, bill of sale, invoice, or anywhere else, represent a good faith effort made by Nate D. Sanders Auctions 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.
Headings are for convenience only and shall not be used to interpret the substantive sections to which they refer.
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 Nate D. Sanders Auctions urges Bidders to avail themselves accordingly. Bidders are encouraged to examine lots thoroughly online. Bidders may also request condition reports.
All lots sold by Nate D. Sanders Auctions are guaranteed authentic. This guarantee is valid from date of the Auction in which Bidder was awarded the lot (the "Auction Date") until one (1) year after the Auction Date, without exception. We encourage the bidder to seek third party opinions on authenticity within the one year period.
In the event that Nate D. Sanders Auctions is prevented for any reason from delivering any property to Bidder, or Bidder is otherwise dissatisfied with the performance of Nate D. Sanders Auctions, the liability, if any, of Nate D. Sanders Auctions shall be limited to, and shall not exceed the amount actually paid for the property by Bidder. In no event shall Nate D. Sanders Auctions 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.
Remedies. Under no circumstance will Nate D. Sanders Auctions 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 Nate D. Sanders Auctions, that there was a breach of the Consignor's warranty of title concerning a lot purchased by Bidder, Nate D. Sanders Auctions shall make demand upon the Consignor to pay to Bidder the Purchase Price (including any premiums, taxes, or other amounts paid or due to Nate D. Sanders Auctions). Should the Consignor not pay the Purchase Price to Bidder within thirty days after such demand, Nate D. Sanders Auctions shall disclose the identity of the Consignor to Bidder and assign to Bidder all of Nate D. Sanders Auctions' rights against the Consignor with respect to such lot or property. Upon such disclosure and assignment, all responsibility and liability, if any, of Nate D. Sanders Auctions with respect to said lot or property shall automatically terminate. Nate D. Sanders Auctions shall be entitled to retain the premiums and other amounts paid to Nate D. Sanders Auctions - 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 authenticity of any item, Bidder must present written evidence that the lot is not authentic as determined by two disinterested, known experts in the field, agreeable to us, within a period of one year from the auction date. If Nate D. Sanders Auctions 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 Nate D. Sanders Auctions 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 authenticity must, without any exception, be brought within one (1) year of Bidder's notice to Nate D. Sanders Auctions of Bidder's contention that the lot was not authentic.
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 Nate D. Sanders Auctions no later than twenty-one (21) calendar days after the Auction Date. The Bidder shall be responsible for the safe return of the lot and shall procure shipping insurance for the full purchase price. 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 Nate D. Sanders Auctions. All guarantees are applicable only to original purchaser. No returns will be accepted other than on the grounds of authenticity for any item that is described as having major flaws or restoration.
NO RETURN OR REFUND OF ANY AUCTION LOT WILL BE CONSIDERED EXCEPT AS PROVIDED IN THESE CONDITIONS OF SALE.
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 Nate D. Sanders Auctions or acting as agent or representative of Nate D. Sanders Auctions 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.
The Parties agree that any agreements between the Parties including but not limited to these Conditions of Sale are entered into in Los Angeles, California, 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 State of California, 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 Nate D. Sanders Auctions 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 State of California or the United States District Court for the District Los Angeles.
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 Nate D. Sanders Auctions or Bidder. These provisions are consideration for the execution of these Conditions of Sale.
The Bidder hereby agrees that Nate D. Sanders Auctions 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, Nate D. Sanders Auctions may, in its sole discretion, enforce its rights pursuant to these Conditions of Sale in the courts of the State of Connecticut or the United States District Court for the District of California 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 Nate D. Sanders Auctions may, in its sole discretion, enforce its rights pursuant to these Conditions of Sale in the courts of the State of California or the United States District Court for the District of California 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 Nate D. Sanders Auctions prevails, the Buyer's Premium as defined in these Conditions of Sale. This right of enforcement is unique to Nate D. Sanders Auctions, and these Conditions of Sale are a waiver by the Bidder of any right to enforcement or adjudication outside of an Arbitration.
Under no circumstances is any employee, agent or representative of Nate D. Sanders Auctions authorized by Nate D. Sanders Auctions 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 Nate D. Sanders Auctions 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 Nate D. Sanders Auctions 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 Nate D. Sanders Auctions, and under no circumstances shall be relied upon by Bidder as a statement, representation or warranty of Nate D. Sanders Auctions.
Agreements. 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 Nate D. Sanders Auctions' 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, Nate D. Sanders Auctions 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 Nate D. Sanders Auctions 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. Nate D. Sanders Auctions may from time to time contact Bidder concerning sale, purchase, and auction opportunities available.
Rules of Construction: Nate D. Sanders Auctions 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.