NOT SOLD (BIDDING OVER)
0.00USD+ applicable fees & taxes.
This item WAS NOT SOLD. Auction date was 2003 Jun 21 @ 10:00UTC-08:00 : PST/AKDT
Inventor of the first submarine to operate successfully on the open seas. Stock certificate, 10.5 x 8.5, for ten shares of The Lake Torpedo Boat Company, signed by Lake as company vice president, August 28, 1915. Impressive vignette of an eagle at top. Light vertical fold impressions, otherwise fine. Est. 150 - 200
Auction Location:
United States
Previewing Details:
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Additional Fees:
Shipping Details:
It is the Bidder's responsibility to contact Odyssey after the sale to make shipping and packaging arrangements. Due to the fragile nature of some lots, Odyssey may be forced to charge additional shipping and handling. Lots indicated as being "framed" are shipped at the Bidder's risk. Taxes, postage, freight charges, if applicable, handling, insurance, the seventeen and one-half percent (17.5%) Buyer's Commission, and any other fees required by law to be charged or collected will be added to the invoice for any lot(s) that is invoiced to successful Bidders.
Payment Details:
Acceptable payment methods are (1) cash in U.S. funds payable through a bank in the United States by personal check, cashier's check, certified check or money order; (2) bank wire; (3) Visa, MasterCard, Discover or America Express. On any cash transaction or series of transactions exceeding $10,000, Treasury Form 8300 will be filed. Contact Odyssey for wiring instructions before sending a wire.
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Odyssey shall not be bound by contrary opinions of other experts as a basis for a return or the cancellation of an Auction Sale, and accordingly, Bidder recognizes that any claim made by Bidder pursuant to these Terms and Conditions must be accompanied by credible and definitive evidence in order for Odyssey to consider the claim and further, there is no assurance that such claim will be validated by Odyssey. <p>g. All oral and written statements made by Odyssey and its employees (including affiliated and related companies) are statements of opinion only, and are not warranties or representations of any kind, unless stated as a specific written warranty, and no employee or agent of Odyssey has authority to vary or alter these Terms and Conditions of Auction Sale. Any alteration shall be effective only if in writing and signed by an officer of Odyssey authorized to do so. <p>h. Bidders shall have no recourse against the Consignor for any reason whatsoever. <p>i. 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It is the intention of Bidder that this waiver and release shall be effective as a bar to each and every claim, demand, cause of action and suit that may arise hereunder, and Purchaser hereby knowingly and voluntarily waives any and all rights and benefits otherwise conferred upon him by the provisions of Section 1542 of the California Civil Code, which reads in full as follows: <p>'A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR." <p>9. Disputes. If a dispute arises concerning ownership of a lot that has been bid upon, Odyssey reserves the right to commence a statutory inter-pleader proceeding at the expense of the Consignor and successful Bidder and any other applicable party, and in such event shall be entitled to its reasonable attorneys' fees and costs. 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If the Bidder fails to comply with one or more of these Terms and Conditions of Auction Sale, then, in addition to all other remedies which it may have at law or in equity, Odyssey may at its sole option either (a) cancel the sale, retaining all payments made by Bidder as liquidated damages, it being recognized that actual damages may be speculative or difficult to compute, or (b) sell a portion or all of the lot(s) held by Odyssey, in a quantity sufficient in the opinion of Odyssey to satisfy the indebtedness, plus all accrued charges, and Odyssey may sell such portion at an auction sale or private sale conducted by Odyssey and charge a seller's commission that is commercially reasonable. More than one such sale may take place at the option of Odyssey. Notice of the sale shall be by U.S.P.S. Certified Mail, Return Receipt Requested to the address utilized on the Bid Sheet, Auction Consignment and Security Agreement or other last known address by Odyssey. The proceeds shall be applied first to the satisfaction of any damages occasioned by Bidder's breach, then to any other indebtedness owed to Odyssey, including without limitation, commissions, handling charges, the expenses of both sales, reasonable attorneys' fees, costs, collection agency fees and costs and any other costs or expenses incurred. Bidder is also liable to Odyssey if the proceeds of such sale or sales is insufficient to cover the indebtedness. Rights granted to Bidders under the within Terms and Conditions of Auction Sale are personal and apply only to the Bidder who initially purchases the lot(s) from Odyssey. The rights may not be assigned or transferred to any other person or entity, whether by sale of the lot(s), operation of law or otherwise. Any attempt to assign or transfer any such rights shall be absolutely void and unenforceable. No third party may rely on any benefit or right conferred by these Terms and Conditions of Auction Sale. <p>10. General Terms. These Terms and Conditions of Auction Sale and the auction shall be construed and enforced in accordance with, and governed by, the laws of the State of California, regardless of the location of the Auction Sale. Bidder acknowledges and agrees that the competent courts of the State of California shall have exclusive jurisdiction over any dispute(s) arising hereunder, and Bidder hereby agrees that any dispute arising hereunder shall be litigated exclusively in the courts of the State of California, regardless of any party's current or future residence or domicile. Bidder further agrees that venue shall be in the Superior Court for Orange County, in the State of California. Bidder agrees that any legal action with respect to this Auction Sale is barred unless commenced within one (1) year of the date of this Auction Sale. If any section of these Terms and Conditions of Auction 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. Odyssey may at its sole and absolute discretion, make loans or advances to Consignors and/or Bidders.