Loading Spinner
Don’t miss out on items like this!

Sign up to get notified when similar items are available.

Lot 1027: Carlo Menegazzi (19th/20th Century- Italian)

Est: $500 USD - $700 USDSold:
John Moran AuctioneersMonrovia, CA, USJuly 30, 2016

Item Overview

Description

The Ducal Palace with Santa Maria, Venice, Italy, signed lower right: Menegazzi, watercolor on paper under glass, 16'' H x 27.25'' W, est: $500/700.

Dimensions

16'' H x 27.25'' W

Artist or Maker

Medium

watercolor on paper under glass

Date

Condition Report

Visual: Toning to the paper. A 1.25'' tear in the paper in the lower right corner and a 1.75'' tear in the paper in the upper left corner. A 2'' drip of glue in the upper right corner. A 1'' x 15'' area of oxidation lower left. Spots of staining scattered along the upper edge. The paper is mounted to stretcher bars.

Provenance

Private Collection, West Hills, CA

Payment & Shipping

Payment

Accepted forms of payment: American Express, MasterCard, Money Order / Cashiers Check, Personal Check, Visa, Wire Transfer

Shipping

Shipping: Buyers are responsible for arranging their own shipping estimates and deliveries. Moran's in our discretion and as a courtesy to buyers, can arrange to have purchased lots packed, insured and forwarded by a third party shipper at the request, expense and risk of the buyer. Moran's assumes no responsibility for acts or omissions in such packing or shipping by other packers or carriers, even if recommended by Moran's. Nor does Moran's assume any responsibility for any damage to picture frames or to the glass therein. In circumstances where Moran's arranges for such third party services, Moran's may apply an administration charge of 10% of that service fee.

Auction Details

Decorative Art Auction

by
John Moran Auctioneers
July 30, 2016, 12:00 PM PST

145 East Walnut Avenue, Monrovia, CA, 91016, US

Terms

Buyer's Premium

28.0%

Bidding Increments

From:To:Increment:
$0$499$25
$500$999$50
$1,000$1,999$100
$2,000$4,999$250
$5,000$9,999$500
$10,000$19,999$1,000
$20,000$49,999$2,500
$50,000$99,999$5,000
$100,000$199,999$10,000
$200,000$499,999$25,000
$500,000+$50,000

CONDITIONS OF SALE

AUCTION HOUSE AS AGENT
Except as otherwise stated, John Moran Auctioneers Moran's) acts as agent for the seller. The contract for the sale of the property is therefore made between the seller and the buyer.

BEFORE THE AUCTION
(a) Public Preview: All property is available for inspection by public preview during the day of auction. In many cases, particular lots can be examined in advance by private appointment. Prospective buyers are strongly encouraged to personally examine any property in which they are interested.
(b) Buyer's Responsibility: Buyers are responsible for determining to their own satisfaction the true nature and condition of any lot prior to bidding. Though buyers are not legally required to inspect lots prior to purchase, failure to do so may constitute a waiver of complaint that an item was not delivered in a condition equal to the existent condition at the auction.
(c) Property Sold 'As Is': Neither Moran's nor the seller provides any guarantee in relation to the nature of the property, or to any errors or omissions in the catalogue or supplemental material apart from the Limited Warranty stated below. Condition reports are offered as a courtesy and are typically published in Moran's catalogue or can be made available upon request. The absence of a condition report does not imply than an item is free from defects or restoration, nor does a reference to particular defects imply the absence of others.

AT THE AUCTION
(a) Admission: The auction is open to the public, though Moran's reserves the right to refuse admission or participation to anyone at any time. The auctioneer may be recorded (visually, aurally or otherwise) and all participants consent to such recording.
(b) Buyer Registration: Prospective buyers must register with Moran's before bidding. Moran's may require identification and financial references in advance of buyer eligibility. Registered bidders accept personal liability to pay the purchase price, including the buyer's premium plus all applicable charges, unless Moran's agrees in advance that the bidder is acting as agent on behalf of an identified third party acceptable to Moran's. In such case, Moran's will look to the third party for payment.
(c) Bidding Guidelines: Bidding, whether in person, by agent, absentee bid, telephone, or internet, constitutes a bidder's acceptance of these conditions. The highest bidder acknowledged by the auctioneer shall be the buyer. The auctioneer retains the absolute right to reject any bid, to withdraw, pass or divide any lots, to combine multiple lots, to advance the bidding at his or her absolute discretion and (in the case of error or dispute, whether during or after the sale) to determine the successful bidder, to continue the bidding, cancel the sale or to re-offer and sell the lot in question. Under no circumstances are the consignors' or agents acting on their behalf, permitted to bid on their consignment. In the event of any dispute after the auction Moran's sale record shall be conclusive.
(d) Absentee, Telephone and Internet Bidding: Moran's offers absentee, telephone and internet bidding as a convenience to clients and does not accept liability for errors or failures to execute such bids. Absentee and telephone bids must be recognized by Moran's prior to auction day. When identical absentee bids are submitted that become the highest bids at the auction, the bid first received by Moran's shall be accepted as the winning bid. Telephone bidders are encouraged to leave minimum bids in case of technical failure. Internet bidders are subject to an additional buyer's premium, as noted below.
(e) Reserves: Unless indicated otherwise, lots may be offered subject to a reserve, which is the confidential minimum price below which the lot will not be sold. The reserve for any lot shall not exceed its published estimate. Moran's shall act to protect the reserve by bidding through the auctioneer, who may open bidding on any lot below the reserve by placing a bid on the seller's behalf. The auctioneer may continue to bid on behalf of the seller up to the reserve amount, either by placing consecutive bids or by placing bids in response to other bidders. Lots without reserves are typically opened for bidding at 50% of their low estimate. In the absence of a bid at that level, the auctioneer may proceed backwards at his discretion or deem the lot unsold if a bid is not recognized.

AFTER THE AUCTION
(a) Payment and Title Transfer: Payment and Title Transfer: The buyer agrees to pay the sum of the hammer price plus Buyer's Premium, plus any applicable sales tax. Buyer's Premiums are calculated as follows: Floor, Telephone or Absentee Bidding: Buyer's Premium of 20% (of hammer price) when paying by cash, check or wire transfer or 22% when paying by credit card. Bidding through internet platform: Buyer's Premium of 23% when paying by cash, check or wire transfer or 25% when paying by credit card. Buyers outside the United States must submit payment via wire transfer. Credit cards are not an accepted form of payment for buyers outside the United States. Buyers are strongly encouraged to provide full payment at the auction. Payment must be received by Moran's within the five business days immediately following the auction. The buyer shall not acquire title or take possession of the lot until all amounts (including the hammer price, premium and applicable taxes) due to Moran's have been paid in full.
(b) Collection: Buyers are strongly encouraged to collect purchased items from the sale site at the time of the auction. Packing material and labor are provided free of charge at the sale site during the auction. The packing of purchased lots at the auction is undertaken by Moran's solely as a convenience to customers. Moran's is not liable for damage to glass or frames, except as a result of negligence on Moran's part, regardless of cause in connection with this courtesy service.
(c) Storage: Following the auction, uncollected lots shall be relocated to and stored in Moran's warehouse. Moran's shall retain possession of all purchases until full payment has been received from the buyer. Lots remaining uncollected after the fifth business day following the sale, regardless of payment status, are subject to a per-lot daily storage charge of $10.00. In addition to other remedies available by law, Moran's reserves the right to impose upon delinquent buyers a separate 1% monthly charge (of the purchase price, or the maximum permitted by law) commencing on the sixth business day after the sale date.


(d) Shipping: Buyers are responsible for arranging their own shipping estimates and deliveries. Moran's in our discretion and as a courtesy to buyers, can arrange to have purchased lots packed, insured and forwarded by a third party shipper at the request, expense and risk of the buyer. Moran's assumes no responsibility for acts or omissions in such packing or shipping by other packers or carriers, even if recommended by Moran's. Nor does Moran's assume any responsibility for any damage to picture frames or to the glass therein. In circumstances where Moran's arranges for such third party services, Moran's may apply an administration charge of 10% of that service fee.

(e) All Sales Final: Notwithstanding other terms mentioned herein, refunds shall be given at Moran's sole discretion. Refunds requested on the grounds of authenticity must be made within 10 days of the auction and accompanied by a supporting written statement from a recognized authority (defined as a person who has authored, edited, or substantially contributed to a monograph on the artist, a person who has curated, organized or substantially contributed to a solo exhibition on the artist, a person who has represented the artist's estate or someone who represented or worked closely with the artist while they were alive and, in any of the above instances physically handled works of the period, medium and subject matter in question during the course of their duties) stating that the object sold is incorrect or not the work of the artist. Dealers, appraisers and representatives of other auction firms do not qualify as authenticators of individual artists unless they have had such specific involvement with that artist's work, as specified above, in addition to their daily duties. Refunded lots must be returned to Moran's in the same condition as when sold. Moran's does not grant extensions to refund considerations based upon authenticity due to shipping delays. There are no exceptions to this refund policy.

LIABILITY AND LIMITED WARRANTY
(a) Liability: The buyer expressly agrees that (i) neither Moran's nor the seller shall be liable, in whole or in part, for any special, indirect or consequential damages, including, without limitation, loss of profits and (ii) the buyer's damages, if any, are limited exclusively to the original purchase price paid for the lot.
(b) Limited Warranty: All property is sold as is. Neither Moran's nor the consignor or our associates make any representation, express or implied warranty (including merchantability and fitness) or guarantee in condition, size, provenance, medium, signature, inscription, exhibition history, importance, rarity, country of origin, age, genuineness, historical relevance, monetary or other value, framing or lack thereof, mounting, conservation, coloring, palette, inscription, edition, style, label or other descriptor. No statement in the catalogue, brochures, website, bill of sale or invoice, any supplementary material, or statements by any Moran's employee shall be deemed such a warranty or representation or an assumption of liability.
(c) Descriptions: No warranty, whether express or implied, is made with respect to any description contained in this auction or any second opinion. Any description of the items or second opinion is for the courtesy of identifying the items for those Bidders who do not have the opportunity to view the lots in person, and no description of items has been made part of the basis of the transaction or has created any express warranty that the goods would conform to any description made by the Auctioneer. Color variations can be expected in any electronic or printed imaging, and are not grounds for the return of any lot.
(d) Estimates: All estimates provided are carefully considered opinions of Moran's specialists, and are merely suggested guidelines for interested buyers. Buyers must be aware that all property sold is subject to fluctuating values depending on the subjective interests of collectors and a wide variety of other uncontrollable factors. The lots auctioned may sell at prices above, within, or below estimate.
(e) Notices, Demands and Refunds: Any demands for refunds, problems with the lot(s) sold or notices of any kind concerning the auction shall be in writing and addressed to John Moran Auctioneers, Inc, 145 East Walnut Avenue, Monrovia, CA 91016.

ADDITIONAL MATTERS
(a) Copyright: The copyright on all images, illustrations and written material produced by or for Moran's for this auction is and shall remain at all times the property of Moran's. Moran's and the seller make no representation or warranty that the buyer will acquire any copyright or reproduction rights to a purchased lot.
(b) Buyer's Breach of Conditions: If a buyer fails to comply with any of these conditions, Moran's may, in addition to asserting all remedies available by law, including the right to hold that buyer liable for the purchase price, (i) cancel the sale, retaining as liquidated damages any payment made by the buyer, (ii) resell the property without reserve at public auction or privately upon notice to the buyer, or (iii) take such other action as we deem necessary or appropriate. If Moran's resells the property, the original defaulting buyer shall be liable for the payment of any deficiency between the original sale price and any subsequent mitigation sale, including warehousing, the expenses of both sales, reasonable attorney's fees, commissions, incidental damages and all other charges due hereunder. In the event that such buyer pays a portion of the purchase price for any property, Moran's shall apply the payment received to such property that Moran's in our sole discretion, deems appropriate. Moran's shall have the benefit of all rights of a secured party under the Uniform Commercial Code adopted in the State of California.
(c) Severability: Should any of these conditions be deemed unenforceable, invalid or illegal in any court having jurisdiction, that part shall be discounted and shall have no effect on the enforceability of the remaining provisions contained herein, which shall remain valid to the fullest extent permitted by law.
(d) Jurisdiction: The rights and obligations of the parties with respect to these conditions and the conduct of the auction shall be governed and interpreted by the laws of the State of California. By bidding, whether in person or by agent, by absentee bid, telephone, internet or other means, the buyer shall be deemed to have consented to the exclusive jurisdiction of the courts of the state of California or, if applicable, the federal courts sitting in this state. Further, the buyer agrees that the venue for any action arising out of the failure to abide by these conditions, or any conduct related to or arising out of the auction, shall be the Los Angeles Superior Court, Pasadena Branch located at 300 E. Walnut Street, Pasadena, California 91101 or the Federal Court Central District located at 312 North Spring Street, Los Angeles, California, 90012-4793.

CREDIT CARDS, CONTINUED

Credit card payments will not be accepted from buyers outside of the United States. Buyers outside of the United States are required to submit payment via wire transfer.

TAXES

--------------------------------------------------------------------------------

1. All property is sold "as is" and all sales are final. All property is described to the best of our knowledge; however, neither we nor our consignor(s) make any warranties, express or implied, with respect to such property as to the physical condition, quality, rarity, importance, authorship, provenance, medium, period, origin or estimated value of any sold lot. No statement anywhere, whether oral or written, whether made in the catalog or advertisement, bill of sale, gallery posting, announcement or remarks by staff or the auctioneer, shall be a warranty, representation or assumption of liability. All measurements and weights are approximate.



2. The highest bidder acknowledged by the auctioneer is the buyer. The auctioneer is the sole determinant as to who is the successful bidder. Once the auctioneer's gavel falls, the successful bidder immediately assumes full risk and responsibility for the purchased lot.



2a. Buyers Premium: There is a 10% Buyers Premium applied to each lot sold. There is also a 3% online bidding fee for a total of 13%



3. SALES TAX: Buyers are required to pay state and local sales tax unless exempted by law. If exempt, buyers must file a tax exemption form with us before any exemption can be made. MA residents will be charged sales tax



4.PAYMENT: Invoices will be emailed to the successful bidder within three business days of the auction. YOUR PAYMENT IS DUE UPON RECEIPT OF YOUR INVOICE. Due to the uncontrollable nature of the delivery of email, if you have participated in an auction, you are encouraged to inquire regarding whether or not you were a successful bidder. Non-receipt of an emailed invoice does not preclude you from your responsibilities for payment. If we do not receive your payment within fourteen (14) business days of the auction, Bedford Auction reserves the right to move forward with any and all remedies available to us, including reporting your bad debt to the live auction provider and/or any other related entities and charging your credit card on file. A.C.E. Auction accepts Paypal, cash and money orders. A fee of $50 will be assessed on all returned checks. You are responsible for paying in US DOLLAR currency. We will charge you for any differences and any conversion fees if not paid in US DOLLARS.



4. Buyer Pays Shipping Cost. Shipping & Insurance are the responsibility of the purchaser.

Authenticity
5. All items are Guaranteed Genuine. This guarantee is valid for the original purchaser only. The guarantee is valid for one year from date of purchase. Items must be in the same condition as they were when they were originally sold. The buyers only remedy under this guarantee is the cancellation of the sale and the refund of the purchase price.
6. Items containing five or more items is not subject to return for any reason.
7. Every item is cataloged with the intent of accuracy. Improperly described items must be returned with 3 days of receipt. Please email or call us before returning any items
8. A merchandise credit will be issued in a case of a subjective, unresolvable dispute over condition.
9. All items have been compared to well known authentic exemplars which we have on file. Because of the mistakes of so called authenticators claiming authenticity who actually are only giving opinions, we reserve the right to show how we authenticated the item and challenge claims from authenticators who are not court certified and not willing to put their opinions with 100 percent certainty. We are very easy to deal with, however we have seen to many mistakes appear from so called authenticity companies who are competitors and most of all have no training in hand writing. We have follow the hand writing rules as written by Jess E. Dines who wrote the Document Examiner Textbook.
10. We have sold over 500,000 successful autograph sales since 1993.



CONTRACT

By submitting your bid, you agree that:

You have read and agree with the Auctioneer Terms and Conditions below and the Invaluable Terms of Use Agreement
You agree to pay a buyer's premium of up to 20% and any applicable taxes and shipping.


Auktionshaus von Brühl - TERMS & CONDITIONS
Versteigerungsbedingungen
Mit der persönlichen, schriftlichen oder telefonischen Teilnahme an der Auktion, dem Nach- oder Feihandverkauf werden folgende Bedingungen anerkannt:
1. Die Versteigerung erfolgt freiwillig und öffentlich im Namen und für Rechnung der Auftraggeber, die ungenannt bleiben. Der Versteigerer ist berechtigt Auskunft über die Person des Einlieferers oder Bieters zu verweigern, wenn er gleichzeitig für eventuelle Verbindlichkeiten des Verkäufers oder Käufers die selbstschuldnerische Haftung übernimmt.
2. Der Versteigerer behält sich das Recht vor, Nummern des Katalogs zu vereinen, zu trennen, außerhalb der Reihenfolge zu versteigern oder zurückzuziehen.
3. Sämtliche zur Versteigerung gelangenden Gegenstände können vor der Versteigerung besichtigt und geprüft werden. Die Gegenstände sind in der Regel gebraucht. Sie werden in dem Zustand versteigert, in dem sie sich zur Zeit des Zuschlags befinden. Die nach bestem Wissen und Gewissen vorgenommenen Katalogbeschreibungen sowie auch mündliche Erklärungen sind keine zugesicherten Eigenschaften gem. §459 ff BGB. Für Mängel jeglicher Art wird keine Haftung übernommen. Es liegt im eigenen Interesse der Käufer, die Gegenstände vorher zu prüfen.
4. Der Zuschlag wird erteilt, wenn nach dreimaligem Aufruf des Höchstgebotes kein höheres Gebot erfolgt. Der Versteigerer kann sich jedoch die Erteilung des Zuschlags vorbehalten oder verweigern. Bestehen Zweifel über den Zuschlag, so steht es im Ermessen des Versteigerers, ob er den Zuschlag erteilt oder den Gegenstand neu ausbietet. Mit der Abgabe eines Gebotes verpflichtet sich der Bieter nach Erteilung des Zuschlages, seinen Namen und Anschrift zum Versteigerungsprotokoll zu geben. Wird unter Vorbehalt zugeschlagen, bleibt der Bieter für drei Wochen an sein Gebot vom Tage des Ausrufs an gebunden, jedoch kann dieser Gegenstand jederzeit ohne Rückfrage an einen etwaigen Limitbieter abgegeben werden.
5. Der Zuschlag verpflichtet zur Abnahme. Mit Erteilung des Zuschlages gehen Besitz und Gefahr unmittelbar auf den Ersteher über, das Eigentum jedoch erst nach vollständiger Bezahlung.
6. Auf den Zuschlagpreis wird ein Aufgeld von bis zu 20 % (inkl. Mehrwertsteuer) erhoben. Differenzbesteuerung, die Mehrwertsteuer wird nicht ausgewiesen.
7. Den Zuschlagpreis und das Aufgeld (inkl. MwSt) hat der Ersteher sofort nach erfolgtem Zuschlag in bar bzw. elektronisch an den Versteigerer zu zahlen. Scheckzahlungen nur unter dem Vorbehalt der Gutschrift. Bei Zahlungsverzug werden Zinsen von 1 % je angefangenem Monat berechnet. Erfolgt die Zahlung nicht oder wird die Annahme verweigert, so kann der Gegenstand auf Kosten des Käufers noch einmal versteigert werden. Der Käufer haftet jedoch für den Ausfall; auf einen Mehrerlös hat er keinen Anspruch und wird auch zu einem weiteren Gebot nicht zugelassen. Von seiner Abnahme und Zahlungsverpflichtung ist er jedoch erst dann befreit, wenn der Gegenstand neu verkauft und bezahlt ist. Zahlungen auswärtiger Bieter, die schriftlich oder telefonisch geboten haben, sind mit dem Rechnungsdatum fällig. Während oder unmittelbar nach der Versteigerung ausgestellte Rechnungen bedürfen wegen Überlastung der Buchhaltung einer besonderen Nachprüfung und eventuellen Berichtigung; Irrtum vorbehalten. Mündlich oder telefonisch getroffene Vereinbarungen haben nur dann Gültigkeit, wenn sie vom Versteigerer schriftlich bestätigt werden. Aufhebung des Schriftzwanges ist nur schriftlich möglich.
8. Sämtliche Ansprüche und Rechte seiner Auftraggeber kann der Versteigerer im Namen seiner Auftraggeber oder in eigenem Namen geltend machen.
9. Jeglicher Handel und Weiterverkauf von ersteigerten Gegenständen ist im Versteigerungslokal nicht gestattet.
10. Während der Versteigerung ist der Abtransport von ersteigerten Gegenständen nur in dringenden Fällen mit vorher eingeholter Genehmigung des Versteigerers gestattet. Aufbewahrung der Gegenstände und evtl. Versand erfolgen auf Kosten und Gefahr des Erwerbers. Eine Haftung für evtl. Beschädigungen oder Verlust der Gegenstände übernimmt der Versteigerer nicht.
11. Schriftliche Gebote werden angenommen und sorgfältig bearbeitet, wenn sie mindestens 1 Tag vor der Versteigerung beim Versteigerer eingegangen sind. Die Gebote müssen klar formuliert sein, in jedem Fall ist die Katalognummer maßgebend. Telefonbieter werden vor Aufruf der gewünschten Position angerufen, wenn hierfür ein schriftlicher Auftrag vorliegt. Eine Gewähr für das Zustandekommen der Telefonverbindung kann vom Versteigerer nicht übernommen werden. Anrufe beim Bieter erfolgen nur bei Gegenständen über 250 € Limit.
12. Die angegebenen Rufpreise sind im Regelfall Limits. Der Zuschlag kann auch darunter erfolgen.
13. Der Aufenthalt im Versteigerungslokal und allen Nebenräumen geschieht auf eigene Gefahr. Für Sach- und Personenschäden jeglicher Art haftet der Versteigerer nicht. Bei der Besichtigung ist größte Vorsicht zu empfehlen, da jeder Besucher für den von ihm verursachten Schaden haftet.
14. Der Versteigerer behält sich das Recht vor, Personen ohne Angabe von Gründen von der Versteigerung auszuschließen.
15. Vorstehende Bedingungen gelten sinngemäß auch für den freihändigen Verkauf.
16. Der Versteigerungsvertrag unterliegt deutschem Recht. Erfüllungsort für beide Teile ist Stuttgart. Sollte eine der vorstehenden Bedingungen unwirksam sein, berührt dies nicht die Wirksamkeit der übrigen Bedingungen.


Mit der Bestellung werden unsere Geschäftsbedingungen anerkannt.
Shipping Terms


Der Versand erfolgt auf Kosten des Käufers.

Versandkosten sind abhängig von Paketgröße und Lieferort. Gerne teilen wir Ihnen diese auf Anfrage mit.

Wir versenden weltweit!

PAYMENT

The buyer agrees to pay the sum of the hammer price plus Buyer's Premium, plus any applicable sales tax. Buyer's Premiums are calculated as follows: Floor, Telephone or Absentee Bidding: Buyer's Premium of 20% (of hammer price) when paying by cash, check or wire transfer or 22% when paying by credit card. Bidding through internet platform: Buyer's Premium of 23% when paying by cash, check or wire transfer or 25% when paying by credit card. Buyers outside the United States must submit payment via wire transfer. Credit cards are not an accepted form of payment for buyers outside the United States.

SHIPPING

Shipping: Buyers are responsible for arranging their own shipping estimates and deliveries. Moran's in our discretion and as a courtesy to buyers, can arrange to have purchased lots packed, insured and forwarded by a third party shipper at the request, expense and risk of the buyer. Moran's assumes no responsibility for acts or omissions in such packing or shipping by other packers or carriers, even if recommended by Moran's. Nor does Moran's assume any responsibility for any damage to picture frames or to the glass therein. In circumstances where Moran's arranges for such third party services, Moran's may apply an administration charge of 10% of that service fee.

BUYERS PREMIUM

The buyer agrees to pay the sum of the hammer price plus Buyer's Premium, plus any applicable sales tax. Buyer's Premiums are calculated as follows: Floor, Telephone or Absentee Bidding: Buyer's Premium of 20% (of hammer price) when paying by cash, check or wire transfer or 22% when paying by credit card. Bidding through internet platform: Buyer's Premium of 23% when paying by cash, check or wire transfer or 25% when paying by credit card. Buyers outside the United States must submit payment via wire transfer. Credit cards are not an accepted form of payment for buyers outside the United States.

CONDITION

Buyers are responsible for determining to their own satisfaction the true nature and condition of any lot prior to bidding. Though buyers are not legally required to inspect lots prior to purchase, failure to do so may constitute a waiver of complaint that an item was not delivered in a
condition equal to the existent condition at the auction.

CONDITION

Buyers are responsible for determining to their own satisfaction the true nature and condition of any lot prior to bidding. Though buyers are not legally required to inspect lots prior to purchase, failure to do so may constitute a waiver of complaint that an item was not delivered in a
condition equal to the existent condition at the auction.