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Auction TBA
2009 Auction Rules
Rules, Regulations, and Conditions
Chicago Pen
Auction
Commissions
A commission will be charged to all sellers and a buyer’s premium to
all buyers on each item sold; the rates for both sellers and buyers will
be 10% on amounts up to and including $1000 and 5% on amounts in excess
of $1000. The sponsors reserve the right to negotiate commissions with
sellers on exceptional items.
Changes in the following Term of
Sale may be announced by the Auctioneer from the podium and if so
announced will take precedence over those written below.
The
identifications, descriptions, conditions and other information in this
catalog are solely for the convenience of the buyers and are subject to
correction at any time. The buyer is solely responsible for verifying
all information in the catalog. The buyer is solely responsible for
verifying the condition of any lot. The sponsors take no responsibility
for the correctness of the information. No warranties are expressed or
implied.
Terms of Sale for Buyers
1)
Some of the items to be auctioned have a reserve price below which they
will not be sold. These reserves will not be disclosed. The auctioneer
will start the bidding at whatever price he chooses, which may be lower
or higher than the reserve, and will supervise the bidding until no
higher bid can be reached. If the reserve has not been reached, the
Auctioneer may offer the lot to the highest bidder at the reserve.
2) Items will be available for inspection before the auction
begins. It is solely the buyer's duty to inspect the items and to form
his or her own opinion about the condition and value of each item.
3) Sponsors reserve the right to add or withdraw any item or lot at
any time, including during the progress of the sale. The sponsors
reserve the right to change the contents of any lot consisting of
multiple items up until the moment of sale. Non cataloged lots may be
added to the sale.
4) The Auctioneer may reject any bid or
bidder for any reason. The Auctioneer may alter the order of the sale.
The Auctioneer may bid for himself, the sponsors may bid for themselves
or for clients.
5) Bid by number only, please obtain a bid
number card from the clerk by completing a form requesting your name,
address, telephone number, etc. Each successful bi
dder is asked to
identify himself by number to the auctioneer and the clerk. Resellers,
interstate purchasers and others exempt from sales taxes may be asked to
complete a sales tax exemption form.
6) Sponsors believe the
Auction not to be subject to Illinois Retailer’s Occupation Tax, in the
event that such taxes are levied upon the sponsors, the purchaser of any
lot agrees to reimburse the sponsors for the amount of such tax.
7) All sales are final. Purchases must be claimed and paid for
immediately after the end of the auction. All payments must be by cash,
cashier's check, traveler's check, certified check or money order. The
sponsors cannot extend credit nor accept personal checks. The
consignors of certain lots expected to sell for more than $1000 have
agreed to take checks. The sponsors, with the prior consent of the
consignor, may agree to accept the purchaser’s check in payment of the
portion of the hammer price which will be payable to the consignor.
Specific authorization to pay by check for a given lot must be obtained
from Donald Lavin, Daniel Zazove, or Michael Fultz prior to the start of
the auction. The sponsors reserve the right to decline to accept checks
for any reason. Checks drawn on U.S. banks only. In the event of a
dispute, the purchaser agrees, without limitation, to hold the sponsors
harmless for any liability, including attorney’s fees
, court costs,
collection fees, discounts, bank charges, etc.. Cash and traveler’s
checks will always be preferred.
8) When the hammer falls, the
lot becomes the property of the buyer; all risks of loss, damage, etc.
also passing to the buyer.
9) Decisions of the Auctioneer and/or
the sponsors are final and are not subject to appeal.
Terms of Sale for Consignors
1) All terms of sale for
buyers apply equally to consignors.
2) A commission of 5% of the
reserve price will be charged on items not sold.
3) Sponsors
will settle with consignors as soon as possible. The sponsors take no
responsibility for unsold, unclaimed or unpaid items or lots.
4)
Consignors and/or their agents are prohibited from bidding on any lot
which they have consigned.
Definitions of Terms Used In
the Catalog
Condition... While the descriptions of most
lots include an estimate of the use, wear and tear that the item has
received, these are merely labels. The Sponsors do not warrantee
condition. It is solely the responsibility of the bidder to inspect the
lot and determine its condition.
In general, ‘Mint’ means an item
is unused but it may be shopworn, dirty or otherwise in less than brand
new condition. ‘Near Mint’, ‘Excellent’, ‘Very Good’ and ‘Good’ are
each progressively more worn. A pen labeled 0Excellent’ will show
obvious wear, a pen labeled ‘Good’ may be much worn. The bidder must
also be aware that items are sometimes damaged in the preview or in
transport. (Should you discover a serious defect during the preview
which is not mentioned in the catalog, please call this to the attention
of the Sponsors).
Working.. The filling mechanism of a pen draws
fluid into the pen. Working does not mean that the Sponsors warrantee
the pen to write. Eyedropper filled pens are presumed to be ‘working’.
Estimated Selling Price.. The amount the sponsors estimate the lot
will bring at auction. This may be higher or lower than the Reserve
Price, if any.
Reserve Price.. An amount set by the Consignor
below which the lot may not be sold.
Chicago Pen Auction
TBA
Copyright ©
2010 Lavin and Zazove
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2010
Chicago Pen Show
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