Lot 417: Watercolor, Chet Reneson, Old Lyme, Connecticut (b.1934).

1. GUARANTEE - We have made a consistent effort in correctly cataloging and describing the property to be sold. The catalog descriptions are guaranteed for authenticity and condition. Should the need arise, the auctioneer reserves the right to make verbal corrections and provide additional information from the block, at the time of the sale. Absentee bids will not be executed on items that are found to be other than described in the catalog. Since opinions can differ, particularly in the matter of condition, the auctioneer will be sole judge in the matter of refunds.
2. DURATION OF GUARANTEE - Request for refund for items purchased IN PERSON at the auction must be made within 3 days of the sale. If you are an absentee or phone bidder it is your responsibility to examine the lot immediately upon receipt. On items purchased in absentee, the guarantee will end 3 days from the time of delivery. Therefore, all guarantees on items purchased will become null and void 7 calendar days from the date of shipment. IT IS VERY IMPORTANT TO NOTE THAT IF YOU PAY LATE, YOU WILL NOT BE ELIGIBLE FOR THE GUARANTEE. Payment must be postmarked no later than 35 days after the auction.
3. PROTESTED BIDS - In case of a disputed bid, the auctioneer is the sole determinant as to whom the successful bidder is, and at his discretion, may reoffer and resell the article in dispute. If a dispute arises after the sale, the auctioneer is sales records shall be conclusive as to whom the purchaser was, and the purchase price.
4. BIDDING- Bidding usually starts below the low estimate and advances in increments of approximately 10% of the opening bid subject to the auctioneer's discretion. The auctioneer reserves the right, at his sole discretion, to refuse any bids that he deems unreasonable. The minimum bid increment guideline is as follows:
$500 to $1000 - $50
$1000 to $10,000 - $100
$10,000 to $20,000 - $500
$20,000 to $100,000 - $1000
$100,000 and above - $2000
5. ABSENTEE BIDS - Phone or mail bids, at the discretion of the Auctioneer, will be accepted with a 20% deposit. In such case the bookkeeper will execute such bids competitively. Absentee bids are executed by the bookkeeper on behalf of the bidder in accordance with the bid increment policy shown above. Please review the rules governing both absentee and phone bids in the back of the catalog.
6. TERMS - All items are to be paid for in U.S. funds at the day of the auction. No items will be released until they are paid for. Those who have not established an account with us and wish to pay by check, must do so prior to the beginning of the auction, by presenting a current letter of reference from their bank, or by providing references, that are suitable to the Auctioneer. The Auctioneer reserves the right to hold merchandise purchased by personal check, until the check has cleared the bank. Phone and absentee bidders. You will be notified one week after the auction of your bids/results. PAYMENT IS DUE UPON RECEIPT. A late charge will be accessed on all balances not paid, at the rate of 12% A.P.R. commencing 30 days after the auction. If any accounts become more than 60 days overdue, the consignor will be given the name of the buyer who is responsible for holding up their funds. Guyette & Schmidt will not carry insurance on items that are not paid for within 35 days of the auction. Also, the auctioneer may retain and/or recover the deposit specified as liquidated damages. In addition, the property can be resold at public or private sale without further notice. Any deficiency resulting from such resale shall be paid to the auctioneer by the defaulting buyer, together with all charges, fees, and expenses incurred by such resale, or the enforcement of the obligation hereunder. Buyer agrees to pay all charges and expenses incurred by reason of any breach of the Terms and Conditions of sale, including without limitation, reasonable attorney fees.
7. RESERVES - A very small percentage of the decoys in this auction carry reserves. A reserve is a confidential minimum price established between the auctioneer and the consignor. The reserve will not exceed the low estimate printed in the catalog, and is usually much less. Reserves are executed by the bookkeeper on behalf of the consignor.
8. PAYMENT FOR PURCHASES MAY BE MADE WITH VISA , MASTERCARD, CASH OR CHECK.
9. BUYERS PREMIUM- The buyer's premium, assessed on each selling lot, is 20% of the hammer price, plus a 1-5% Invaluable fee. For payments made using Visa or MasterCard, the buyer's premium is 23%, plus the 5% Invaluable fee.
10. TAX - There is 6% sales tax in Maryland.
11. ACCEPTANCE OF CONDITIONS - Bidding on any articles in this catalog indicates your acceptance of all the above items.
12. BIDDING AGENT RESPONSIBILITY - If you are registering for someone or if you execute a bid for someone else under your number, you are responsible for the settlement of that account. You are also responsible for examining the decoy(s) for your client regarding the guarantee.
13. WITHDRAWAL - We reserve the right to withdraw any property before the sale and shall have no liability whatsoever for such withdrawal.
14. TITLE - Title passes upon the fall of the auctioneer's hammer. It will then be the responsibility of the buyer to make full payment prior to removing the goods from the premises. Removal is at both the buyer's risk and expense, and must be made at the conclusion of the sale, unless other arrangements are made with the Guyette & Schmidt staff. Any lots we might make arrangements for moving or storing are solely at the risk of the owner, and any damage or loss occurring after the fall of the hammer becomes that of the buyer.
15. LEGAL DISPUTE - Any legal disputes arising from this auction shall be settled in the court system of the State of Maine. UNIFORM COMMERCIAL CODE - The Maine Uniform Commercial Code, Title II, Section 2328 applies to this auction.
16. All calls are sold "As Is".

You will be notified of your succesful bids with a bill, the day after the auction has ended. PAYMENT IS DUE UPON RECEIPT. A late charge will be assessed on all balances not paid, at the rate of 12% APR commencing thirty days after the bill is sent. If any accounts become more than 60 days overdue, the consignor will be given the name of the buyer who is responsible for holding up their funds.

After payment is received we automatically send purchases via United Parcel Service COD with a signature required, unless otherwise specified. There is a charge for the shipping costs, insurance, as well as a UPS COD and Signature Required fee. We can not ship via UPS or FedEx to a PO box, so please be sure to include your street address. If you wish to have the purchases shipped by any other method, you must contact our office to make those arrangements. Shipping is done on a first come, first served basis, and can take up to four weeks. *Note* Items won through Invaluable will not be available for pick up at the auction facility on the day of the sale.

The buyer's premium, assessed on each selling lot, is 20% of the hammer price, plus a 1-5% Invaluable fee. For payments made using Visa or MasterCard, the buyer's premium is 23%, plus the 5% Invaluable fee.

There is 6% sales tax in Maryland.

We have attempted to make a consistent effort in cataloging and correctly describing the property being auctioned. The catalog descriptions are guaranteed for authenticity and condition. Should the need arise, the auctioneer reserves the right to make verbal corrections and provide additional information from the block, at the time of the sale.