Conditions of Sale
Property is offered for sale by Kestenbaum & Company as agent for the Consignor. By bidding at auction, the buyer agrees to be bound by these conditions of sale.
1. Bidding on any item indicates your acceptance of Kestenbaum & Company's terms and all other terms announced at the time of sale whether bidding in person, through a representative, by phone, by Internet, or other absentee bid.
2. All property is sold "as is," and any representation or statement in the auction catalogue or elsewhere as to authorship, attribution, origin, date, age, provenance, condition or estimated selling price is a statement of opinion only. All interested parties should exercise their own judgment as to such matters, Kestenbaum & Company shall not bear responsibility for the correctness of such opinions.
3. The highest bidder acknowledged by the Auctioneer shall be the buyer. The Auctioneer has the right to reject any bid and to advance the bidding at his absolute discretion and, in the event of any dispute between bidders, to determine the successful bidder or to reoffer and resell the article in dispute. Should there be any dispute after the sale, the Auctioneer's record of final sale shall be conclusive. On the fall of the Auctioneer's hammer, title to the offered lot shall pass to the buyer, who shall forthwith assume full risk and responsibility for the lot and may be required to sign confirmation of purchase, supply his/her name and address and pay the full purchase price or any part thereof. If the buyer fails to comply with any such requirement, the lot may at the Auctioneer's discretion, be put up again and sold.
4. Kestenbaum & Company reserves the absolute right to withdraw any property at any time before its actual final sale.
5. All lots in this catalogue are subject to a reserve, which is the confidential minimum price acceptable to the Consignor. No reserve will exceed the low presale estimate stated in the catalogue.
6. The purchase price paid by the purchaser shall be the sum of the final bid and a buyer's premium of 23% of the first $150,000 of the final bid on each lot, and 18% of the final bid price above $150,000, plus all applicable sales tax.
7. All purchases are subject to New York City sales tax unless the purchaser possesses a New York sales tax exemption number.
8. All property must be paid for and removed from our premises by the purchaser at his expense not later than ten days following its sale. If not so removed, storage charges may be charged of $5.00 per lot per day. In addition, a late charge of 1.5% per month of the total purchase price may be imposed if payment is not made.
19. Kestenbaum & Company accepts no responsibility for errors relating to the execution of all bids.
10. If the purchaser breaches any of its obligations under these Conditions of Sale, including its obligation to pay in full the purchase price of all items for which it was the highest successful bidder, Kestenbaum & Company may exercise all of its rights and remedies under the law including, without limitation, (a) canceling the sale and applying any payments made by the purchaser to the damages caused by the purchasers breach, and/or (b) offering at public auction, without reserve, any lot or item for which the purchaser has failed to pay in full the purchase price, holding the purchaser liable for any deficiency plus all costs of sale.
11. In the event of any potential concern or dispute, please note that all of Kestenbaum & Company's auction-related activities are exclusively governed by the laws of the State of New York.
Important Note Regarding Live Auctions
Items offered are part of a live auction at Kestenbaum & Company's gallery. Items are offered in numerical order and are auctioned at a pace of approximately 80-100 lots per hour.
Absentee bids left on third-party live auctions platforms ARE NOT the same as bids left with the auction house directly. They are executed from a proxy computer terminal in the room against other Internet bidders. Other competitive bids include bidders on the telephone, in the room, other internet bidders, and absentee bids held by the auctioneer. Tie bids may occur between live auctions absentee bidders and other bidders. In the event of a tie bid, the auctioneer has sole discretion to award the lot to the high bidder of his or her choosing--most often the floor bidder.
The auctioneer (Kestenbaum & Company) at its sole discretion, reserves the right to refuse participation in this auction by any bidder, whether on premises, participating on-line, by telephone, or through absentee bid. Kestenbaum & Company reserves the right not to accept bids via internet bidding for lots of high value. If you intend on bidding on any lots with a low estimate of $2,000 and above, you must first contact Kestenbaum & Company no later than 24 hours prior to the auction to be approved for bidding. Please contact Kestenbaum & Company at kestenbook@aol.com
Prospective bidders should register in advance of the sale date. Please be sure to include your complete billing information and agree to share this information with Artfact. Approval for bidding is at the discretion of the auction house. Please note registrations must be approved no later than 3 hours prior to the commencement of the auction.
Payment
Invoices for Kestenbaum & Company auctions will be sent within 24 hours following the conclusion of the sale. Kestenbaum & Company accepts bank wire transfer or check, drawn on U.S. funds, for payment. Kestenbaum & Company reserves the right to hold merchandise purchased by personal check until the check has cleared the bank. Kestenbaum & Company will also accept payment via Visa and Mastercard.
Please note that KESTENBAUM & COMPANY DOES NOT accept Western Union or PayPal for purchases.
Shipping
Upon request, Kestenbaum & Company can provide packing and shipping services, each at cost. Shipping is done by either FedEx Express or UPS Ground exclusively. Kestenbaum & Company does not ship via USPS.
For certain overseas locations and for particular items of value or fragility, third party shippers will be used.
Purchases will not be released until payment arrangements have been made to the full satisfaction of Kestenbaum & Company.
Items left uncollected may be subject to additional storage and handling fees as per Kestenbaum & Company's Terms & Conditions.
