Terms & Conditions
All property offered and sold through Artbay's Auction Inc.(Hereinafter referred to as: Artbay's) shall be offered and
sold on the terms and conditions set forth below. By bidding at the auction,
whether present in person or by agent, by written bid, telephone, internet
or other means, the buyer agrees to be bound by these terms and conditions
1. All properties sold "AS IS". All sales are final. No returns.
2. A 14% buyer's premium will be added to the hammer price of each lot for
floor, absentee and phone bidders (19% for all online bidders)
3. All purchases (including buyer's premium) will be subject to a California
State sales tax of 9% unless (1) the buyer is an out of state resident
and merchandises are being shipped out of California or (2) the purchaser has
a valid tax - exempt certificate ( an actual resale certificate must be
presented and on file with Artbay's)
4. All properties are sold "AS IS" and all sales are final. We do our best
to describe the item's material, age and conditions. Written and oral
descriptions are our opinions and should in no way be interpreted as a face
nor a guarantee of any kind as to authenticity, age, condition and
materials. Prospective buyers are strongly advised to examine personally any
property in which they are interested, before the auction takes place, to
determine its condition, size, and whether or not it has been repaired or
restored. Shipping and insurance is the responsibility of the purchaser.
Purchase is not contingent upon shipping costs. Please explore costs before
you bid.
5. All items are sold to the highest bidder as acknowledged by the
auctioneer. The auctioneer has the right to reject any bid! The auctioneer
is the arbiter of any disputed bid. He may reopen bidding at his discretion
and reject bids deemed inappropriate. The auctioneer reserves the right to
withdraw any item and to reoffer the item at another time
6. Every effort is made by the auctioneer to execute all bids, including
floor, absentee, telephone and internet bids. We are not responsible for any
missed bids
7. International buyers should note that some countries do not allow the
importation of lots containing materials made from endangered species. This
includes, but not limited to, ivory, coral and tortoise shell. Please check
with relevant import and customs regulations prior to bidding.
8. All property purchased from Artbay's must be paid within 7 days
after the auction. All property purchased from Artbay's must be
removed within 30 days after the auction date. Artbay's will not be
responsible for paid items left for over 30 days after the auction date.
(unless a prior agreement has been made). Items left after 30 days will
incur a $10/day storage fee per item. Once storage fees have exceeded the
actual purchase price of the item(s) Artbay's can exercise the right
to repossess the item and re-auction.
9. If any part of these conditions of sale is found by any court to be
invalid, illegal or unenforceable, the balance of the conditions shall
continue to be valid to the fullest extent permitted by law.
10. The rights and obligations of the parties with respect to these
conditions of sale and terms of guarantee, as well as the purchaser's and
our respective rights and obligations hereunder, the conduct of the auction
and any matters connected with any of the foregoing, shall be governed and
interpreted by the laws of the State of California. By bidding at auction,
whether present in person or by agent, by written bid, telephone or other
means, the buyer shall be deemed to have submitted, for the benefit of
Artbay's, to the exclusive jurisdiction of the federal or state courts
located in the state and county of California and waives any objection to the
jurisdiction and venue of any such court.
11. By bidding at auction, whether present in person or by agent, by written
bid, telephone, internet bid or other means, Artbay's will keep the
bidder's contact information for future auction or news event notifications,
unless bidder specifically notify our auction house to remove their name
from such list.
12. Bidders Deposit
New bidders (floor, phone, absentee, and internet) require submitting a $500 deposit in order to participate in auctions held by Artbay's.
If do not win items, Deposit will be returned after the end of the auction.
If win the items, Deposit will be refunded after completion of the invoice amount paid.
Important Notice: We reserve the right to charge the submitted card the full amount of the invoice, including the 19% buyer's premium and any applicable taxes, if an alternate form of payment is not received within Seven (7) days after the auction.
13.Artbay's reserves the right, at our complete discretion, to refuse
admission to the premises or participation in any auction and to reject any
bid, as well as the right to refuse to acknowledge any bidder. The highest
bidder acknowledged by the auctioneer will be the purchaser. The auctioneer
has the right at his absolute and sole discretion to advance the bidding in
such a manner as he may decide, to withdraw or divide any lot, and to
combine any two or more lots. In the event of error or dispute between
bidders, or in the event of doubt on our part as to the validity of any bid,
whether during or after the sale, the auctioneer has final discretion to
determine the successful bidder, to continue the bidding, to cancel the
sale, or to reoffer and resell the lot in dispute. If any dispute arises
after the sale, the Artbay's sale record shall be conclusive.
14. In addition to the other remedies available to us by law, we reserve the
right to impose a late charge of 1 1/2% per month of the total purchase
price if payment is not made in accordance with the conditions set forth
herein. Artbay?s shall have no liability for any damage to property
left on its premises for more than (7) days following the sale.
If any applicable conditions herein are not complied with by the purchaser,
in addition to other remedies available to us and the consignor by law,
including without limitation the right to hold the purchaser liable for the
total purchase price, including all fees, charges and expenses more fully
set forth herein, we shall be entitled in our absolute discretion to
exercise one or more of the following rights or remedies:
a) To charge interest at such rate as we shall reasonably select;
b) To hold the defaulting buyer liable for the total amount due and to
commence legal proceedings for its recovery together with interest, legal
fees and costs to the fullest extent permitted under applicable law;
c) Cancel the sale of that, or any other lot or lots sold to the defaulting
purchaser at the same or any other auction, retaining as liquidated damages
all payments made by the purchaser;
d) Resell the property whether at private sale or public auction without
reserve, and the purchaser will be liable for any deficiency, cost,
including handling charges, the expenses of both sales, our commission on
both sales at our regular rate, all other charges due hereunder and
incidental damages;
e) To set off the outstanding amount remaining unpaid by the buyer against
any amounts which we may owe the buyer in any other transactions;
f) Where several amounts are owed by the buyer to us, in respect of
different transactions, to apply any amount paid to discharge any amount
owed in respect of any particular transaction, whether or not the buyer so
directs;
g) To reject at any future auction any bids made by or on behalf of the
buyer or to require a deposit from the buyer before accepting any bids;
h) To take such other actions as we deem necessary or appropriate; or
i) To effect any combination thereof.
In addition, a defaulting purchaser will be deemed to have granted and
assigned to us a continuing security interest of first priority in, and we
may retain as collateral security for such purchaser's obligations to us,
any property or money of or owing to such purchaser in our possession. We
shall have all of the rights accorded a secured party under the California
Uniform Commercial Code with respect to such property and we may apply
against such obligations all monies held or received by us for the account
of, or due from us, to such purchaser. At our option, payment will not be
deemed to have been made in full until we have collected funds represented
by checks, or in the case of bank or cashier's checks, we have confirmed
their authenticity. In the event the purchaser fails to pay any or all of
the total purchaser price for any lot and Artbay?s nonetheless elects
to pay the consignor any portion of the sale proceeds, the purchaser
acknowledges that Artbay's shall have all of the rights of the
consignor to pursue the purchaser for any amounts paid to the consignor,
whether at law, in equity, or under these Conditions of Sale.
Shipping contacts and arrangements:
all items not being picked up at the auction house will be shipped by shipping
companies from our suggested list of shippers. Artbay's does not
handle any shipping. Buyers must contact shipping company directly after the
auction to arrange shipment and payment for shipping. A shipping release
form is also required to be filled out and sign in order for us to release
the item to the shipping company. If you decide to use your own methods or
another shipper that's not on our suggested list of shippers, you must
inform us prior so that there will be no confusion!
Payment details:
Payment must be received within 7 days of the auction!
Our accepted payment methods:
* Cash (in house only)
* Wire transfer (contact Artbay's for wire transfer method)
* Debit card
* Credit cards (Mastercard, Visa, & Discover), we do not accept credit card with payments over $2,000.
We reserve the right to hold merchandise until the check is clear.
