Auction Terms & Conditions SANTA MARGARITA AUCTION BARN Important - Read Carefully Conditions of Sale 15% Buyers Premium 1. All property is sold "as is," and ALL SALES ARE FINAL. Property is open to public inspection, and it is the bidder's responsibility to determine condition, etc. 2. Though all description and commentary are believed to be correct, neither Auctioneer nor Consignor makes any warranties or representations of any kind with respect to the property, and in no event shall be held responsible for having made or implied any warranty of description, genuineness, authorship, attribution, provenance, period, culture, source, origin, condition, etc. 3. A bid by any person shall be conclusive proof that the person has himself acquainted with these conditions of sale and has agreed to be bound by them. 4. The buyer shall be the highest bidder. Should a tie or dispute arise between two bidders, the auctioneer may, at his discretion, reopen the bidding between the high bidders until property is sold. 5. To maintain the continuity of the sale, it shall be the duty of the auctioneer to advance the bidding at his own discretion, and may reject a nominal or fractional advance, should it, in his estimation, prove injurious to the sale. 6. Prior to removal of purchases payment must be made in cash, or by other means as announced by the auctioneer before the sale. Unless exempted by law, the purchaser shall pay any and all applicable taxes. 7. Upon the fall of the auctioneer's hammer, and/or when the Auctioneer says, "sold," title on the property shall pass to the highest bidder, who thereupon assumes full risk and responsibility. All property shall be removed from the premises by the purchaser at his own risk and expense within the time period announced by the auctioneer, and if not so removed, may be sent by Auctioneer to a storage facility, for the account, risk, and expense of the purchaser. 8. Auctioneer reserves the right to withdraw any item before or during the sale. 9. Neither Auctioneer nor Consignor shall be liable for any personal injury on the premises where sale shall be held. 10. If the foregoing conditions or any other applicable conditions herein are not complied with, in addition to other remedies available to Auctioneer and the Consignor by law, including, without limitation, the right to hold the purchaser liable for the bid price, the Auctioneer, at his option, may either (a) cancel the sale, retaining as liquidated damages all payments made by the purchaser or (b) resell the property publicly or privately, and in such event the purchaser shall be liable for the payment of deficiency plus all costs, including storage, the expenses of both sales, Auctioneer commission at its regular rate and all other charges due hereunder, and incidental damages. 11. Thank you for your attendance and patronage. We hope you enjoy our sales and are able to make many advantageous purchases. --------------------------------------------- ------------------------------------------ Terms Of Use

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