Terms & Conditions
Buyer Terms and Conditions V1.2
The terms and conditions herein (“Buyer Terms and
Conditions,” “Conditions of Sale,” “Terms and Conditions,”
or other similar pronouns) sets forth the terms of the agreement
between the bidder, buyer, and/or representative of the
buyer and/or bidder and/or representative (“Bidder,” “Buyer,”
“Representative,” “Bidder/Buyer/Representative,” “you,”
“your,” or other similar pronouns), as bidder and/or buyer and/
or representative, and FORTUNA AUCTION LLC (“Fortuna,”
“we,” “our,” or “us” or other similar pronouns), as auction
house, regarding the sale of the property (“Property”) being
offered in this auction. These terms govern your participation
in the auction as a bidder and/or buyer and/or representative
as well as your access to and use of any digital, print,
and intellectual properties and materials owned by Fortuna.
If you are using any digital platform including but not limited
to websites, mobile applications, or online bidding platforms
(“digital platform” or “digital platforms”), whether owned by
Fortuna or a third party, additional terms and conditions may
apply and shall be posted by or made available to you by the
platform owner. We retain the right, in our sole discretion, to
change these most recent Terms and Conditions from time to
time, at any time, for any reason, and without notice to you.
Any such changes shall be sent to you via posted mail, email,
and/or posted online or otherwise made available to you by
the means of our choosing. By participating in the auction
and/or accessing, using, bidding, and/or buying, on any digital
platforms at our auction, you accept and agree to be bound
by these Terms and Conditions, as well as any additional terms
and conditions required by the digital platform you are using.
If you do not agree to these Terms and Conditions you may
not participate in the auction and may not access or use any
digital platform to register for, participate in, or access any of
These Terms and Conditions, including any amendments
made by Fortuna via published or posted notices and/or
verbal announcements during the sale, constitute the entire
terms and conditions upon which the Property listed in the
catalog shall be offered for sale and/or sold by Fortuna Auction
LLC and any consignor of such property for whom we
serve as agent.
These Terms and Conditions shall bind the successors and
assigns of all bidders and/or buyers and inure to the benefit of
our successors and assigns. No waiver, amendment or modification
of the terms herein, other than published or posted notices
and/or oral announcements during the sale, shall bind us
or our successors or assigns, unless explicitly stated in writing
and signed by a Fortuna Authority.
The following terminology, which is used throughout these
Terms and Conditions, shall be defined as follow:
Hammer Price: The Hammer Price is defined as the final
and winning bid, secured by the landing of the gavel (hammer)
during the live sale.
Total Purchase Price: The sum of the Hammer Price, the
buyer’s premium (to be retained by us for our account and
payable by the winning bidder/buyer), any associated fees
and expenses due to us, and any applicable taxes.
Fortuna Authority: Fortuna Authority shall solely and
exclusively refer to either: John Saxon, Co-CEO or Seth Holehouse,
2. BUYER’S PREMIUM
The following premiums will be applied to the buyer’s account,
and due to Fortuna, on top of the Hammer Price. Please note that
an additional 3% applies to the premiums noted below for LiveAuctioneers,
Invaluable and Bidsquare:
25% on the first $300,000
20% from $300,001 to $3,000,000
12.5% on the excess over $3,000,000
3. BID INCREMENTS
USD $1,000 - $2,000 by $100
USD $2,000 - $5,000 by $250
USD $5,000 - $10,000 by $500
USD $10,000 - $20,000 by $1,000
USD $20,000 - $30,000 by $2,000
USD $30,000 - $50,000 by $2,500
USD $50,000 - $100,000 by $5,000
USD $100,000 + by $10,000
4. PROPERTY CONDITION, AUTHENTICITY,
REPRESENTATION, AND WARRANTY
4.1 Property is Sold “As Is”.
All Property is sold “As Is”, without any warranty or representation,
expressed or implied, by us, that any Property
is merchantable or suited for any purpose. The absence of
a Property condition report does not imply any particular
condition. All statements contained in this catalog, on our
website, in any digital platform, in any materials, in any
condition report, in any invoice, or elsewhere as it relates
to this sale (“Published Materials”), as to source, authorship,
origin, condition, provenance, period, culture, quality,
importance, rarity, and/or historical significance are statements
of opinion, and should not be treated as statements
of fact. Fortuna shall not have any responsibility for any
error or omission for any statement in Published Materials.
The absence of a condition statement does not imply that
the lot is in perfect condition or free from wear and tear,
imperfections, or signs of aging.
4.2 Property is Available for Inspection and Condition
Reports are Available Upon Request.
It is your responsibility to inspect and/or request additional
photographs, videos, and/or condition reports for any Property
on which you intend to bid, prior to the day of the sale.
Fortuna will not be held responsible or liable for providing such
information to you in time for the sale. Though photographs
are meant to provide an indication of condition, Fortuna takes
no responsibility for the accuracy of its photographs. Colors
and shades may look different on the screen to how they look
on physical inspection, and images may not show the condition
of a lot clearly. All bidders and buyers should rely solely
upon their own in-person inspection.
4.3 Certificates of Authenticity.
Fortuna will, from time to time, for various lots offered,
obtain certificates of authenticity from the designer and/
or manufacturer, when possible and practical, in our sole
discretion and under our sole judgement. However, not all
designers and manufacturers issue certificates upon request.
In the event that you are a winning bidder and you attempt
to obtain such a certificate from a designer and/or manufacturer
and are unable to, you understand and agree that this
will not constitute grounds to rescind the sale. Furthermore,
you assume all such risks in the purchase of the lot(s) that
you bid for and win, and will not hold Fortuna liable for any
costs, expenses, losses, liabilities, and/or damages as a result
of such events.
4.4 Gemological Certificates and Reports.
Fortuna does not guarantee and accepts no responsibility
for the accuracy of the information contained in any
gemological reports and/or certificates. Fortuna uses such
reports and/or certificates as an indication of condition and
does not rely upon them as fact. Please note that regardless
of whether a gemological report or certificate is provided
with an auction lot, Fortuna cannot guarantee that any stone
offered for sale is not lab-grown. Furthermore, different
laboratories may differ in their assessments (including but
not limited to origin, type, and extent of treatment) and thus
such certificates and/or reports from different laboratories
may contain different results.
If, following a sale, a buyer obtains a gemological laboratory
certificate or report from a laboratory other than the one used
by Fortuna, Fortuna will not be held liable for any differences
among certificates or reports. From time to time, Fortuna will
guarantee certain characteristics for a gemstone offered for
sale and oftentimes, the sale is contingent upon receipt of a
certificate confirming such characteristics. When such a situation
occurs, Fortuna will explicitly and clearly state the terms
of the guarantee.
Fortuna does not guarantee the working condition of any
timepiece. All timepieces are sold without warranty. Fortuna
attempts to identify significant damage and make note of
such damage in catalog descriptions, when and where possible.
However, Fortuna makes no guarantee as to the accuracy
and completeness of any condition report of any timepiece.
Catalog descriptions and condition reports do not necessarily
include all faults, imperfections, or restorations performed on
the timepiece. Moreover, the lack of a condition report does
not imply that any lot is in perfect condition or free from wear
and tear, imperfections, or the results of aging. All responsibility
lies with bidders and buyers for performing their own inperson
4.6 Estimated Gemstone Weights.
Certain gemstone weights are estimated using techniques
that yield approximate measurements. The values produced
by these techniques and reported in the catalog descriptions
are to be used as approximations, and should not be relied
upon as exact measurements.
3. BUYER’S PREMIUM
The following premiums will be applied to the buyer’s account,
and due to Fortuna, on top of the Hammer Price:
25% on the first $300,000
20% from $300,001 to $3,000,000
12.5% on the excess over $3,000,000
5. AUCTION PROCESSES, PROCEDURES, AND PLATFORMS
5.1 Auctioneer’s Rights and Permissions.
The auctioneer may sell, pass, withdraw, or advance a lot
in any manner he or she decides and may split any bid increment
for any lot at any time, all at his or her sole discretion. The
auctioneer may also, in his or her sole discretion, for any reason
he or she deems necessary, especially in the event that the
auctioneer doubts the validity of a bid or a bidder, reject any
bids, from any bidder, for any Property, at any sale and at any
time. In event of a bidding dispute, the auctioneer has the sole,
exclusive, and final decision in the selection of the winning bidder,
the cancelation of the sale, the re-entering of a previously
withdrawn lot, the re-opening and re-offering of a previously
passed lot, and/or the re-selling or re-passing of the disputed
lot. Any post-auction disputes that arise shall be resolved by
review of our sales records, which shall act as a master record,
and shall be conclusive in all respects.
5.2 Property Withdraw, Lot Consolidation/Division,
and Lot Re-Sequencing.
We reserve the right, in our sole discretion, for any reason
we deem necessary, to withdraw any property from any sale at
any time prior to the sale of the property, divide property of a
lot up into multiple lots to be offered for sale, consolidate multiple
lots into fewer lots to be offered for sale, or rearrange lot
sequencing. You agree to hold Fortuna harmless for any such
actions. Unless otherwise announced by the auctioneer at the
time of sale, all bids are per lot as numbered in the catalog and
no lots shall be divided or combined for sale.
5.3 Starting Bids.
All lots offered for sale are subject to a Starting Bid, the
opening bid for the lot and the lowest hammer price at
which the Property can be sold. If, during the course of bidding,
no one places a Starting Bid on a lot, the auctioneer
shall pass the lot.
5.4 Consignor Integrity.
Under no circumstances is any consignor or representatives
of any consignor allowed to bid on their own items. If such
an event takes place, the consignor will be subject to all applicable
penalties and Fortuna will be permitted full authority
to resolve the matter in using any available means and manner
contractually and legally permitted, as outlined in the Master
5.5 Bidding By Representative.
If you wish to send a representative to bid on your behalf,
you must first seek and gain the express written approval of
Fortuna. You and your Representative shall accept and agree
to be bound by the Terms and Conditions herein. Furthermore,
the Bidder and/or Buyer agree to be held liable for the actions
of their Representative, pursuant to these Terms and Conditions.
In such an event, we will need the Buyer’s and/or Bidder’s
signature on a letter of authorization, to be provided by
Fortuna upon request.
5.6 Absentee Bidding, Phone Bidding, and Online
Bidding Not Guaranteed.
We may permit and execute absentee bidding including
written bids, telephone bidding, and internet bidding as a convenience
to you, if you are unable or would prefer not to attend
the auction in-person. We are not responsible for any errors or
omissions related to this type of bidding in any way. You further
agree to hold us harmless should we fail to execute any
such bids or should the digital platform, software, tool, and/
or technology that you used to bid fail you at any point, for
5.7 Online Platforms and Bidding.
Fortuna may allow clients to bid online via our own website,
mobile application, or other third-party online platforms. By
using any of these digital platforms to participate in a sale, you
acknowledge that you are bound by these Terms and Conditions,
as well as any additional terms and conditions stipulated
by the digital platforms. At any time, Fortuna may terminate,
suspend, change, discontinue, or add to any aspect of the
digital platforms and/or services, in our sole discretion, without
liability. We also may restrict, suspend, or terminate use of access
for anyone at any time when using any digital platform
to participate in a sale. You acknowledge that Fortuna has no
responsibility for any of the content, interaction, or risks associated
with a third-party digital platform. Under no circumstances
is Fortuna liable, directly or indirectly, for any loss or damage
that you may incur on any digital platform.
5.8 Title to the Property.
Upon the landing of the auctioneer’s hammer, the winning
Bidder shall have purchased the offered lot pursuant to,
and subject to compliance with, these Terms and Conditions.
At such a time the winning Bidder: (a) assumes full risk and
responsibility therefrom; (b) if requested will sign a confirmation
of purchase; (c) will pay the purchase price in full; and (d)
shall not be permitted to transfer the purchase to another
party. With prior approval of Fortuna, a Bidder and/or Buyer
may identify another person to bid on their behalf as a registered
agent. Any person placing a bid as agent on behalf of
another (whether or not such person has disclosed that fact
or the identity of the principal) shall be jointly and severally liable
with the principal under any contract resulting from the
acceptance of a bid.
6. ACCOUNT SETTLEMENT & RECEIPT OF PROPERTY
6.1 Balance Due and Due Date.
You will be required to pay the total balance of your account,
which is equivalent to the sum of the Total Purchase
Price for each lot purchased. Payment is due within seven (7)
calendar days of completion of the auction. If the buyer makes
a partial payment, we shall, in our sole judgement, apply the
partial payment to any particular line item or lots on the buyers
account balance that we see fit in whichever manner we see
fit. Fortuna will not deliver any Property to a winning Bidder
until all lots won by the Bidder at auction are paid in full and
there is no outstanding balance on the Bidder’s account. Payment
will not be deemed made in full until we have collected
good funds for all amounts due and all funds have cleared our
6.2 New York State Sales Tax.
New York sales tax shall be applied to Buyers’ accounts,
as a percentage applied against the taxable portion, if any,
of the Total Purchase Price, and collected by Fortuna at the
time of settlement, regardless of the state or country in which
the Buyer/Bidder/Representative resides or does business.
Property delivered to a destination outside of New York by
a shipper who is considered a “common carrier” by the New
York Department of Taxation and Finance (e.g., DHL, FedEx,
UPS, and/or USPS) will not be subject to New York sales tax
unless Fortuna has operations in the destination state. Buyers/
Bidders/Representatives who make any other such arrangements
for pickup or delivery in the state of New York
will be subject to New York State Sales Tax pursuant to the
details herein and all applicable laws unless a Buyer/Bidder/
Representative possesses and presents to Fortuna a valid tax
6.3 Accepted Forms of Payment and Associated
Limitations and Service Charges.
You may settle your account using the following accepted
means of payment: cash, check, money order, cashier’s check,
book transfer, wire transfer, direct deposit, debit card, charge
card, or credit card (the latter three collectively referred to
herein as “Card” or “Cards”). The following Cards will be accepted:
Visa, Mastercard, Discover, and/or American Express.
A 2% service charge will be applied to the Total Purchase Price
for all Card payments. Card payments shall not be accepted
from first time buyers unless otherwise approved in writing
by Fortuna and authorized by a Fortuna Authority. Card payments
are limited to a maximum $10,000 per Buyer/Bidder/
Representative per auction. We reserve the right, in our sole
discretion, for any reason we deem necessary, to permit or
deny any form of payment for any Buyer/Bidder/Representative
and the right to increase or decrease any maximums,
minimums, or thresholds stated herein.
6.4 Property Pickup or Delivery.
Prior to account settlement, you must inform Fortuna in
writing (email is preferable) of your desired method of receipt
of your Property—either pickup or delivery. If requesting delivery,
Fortuna will arrange a fully-insured shipment for you with
a reputable “common carrier” (e.g., DHL, FedEx, UPS, and/
or USPS), however, you will be responsible for any and all insured
shipping costs and/or costs affiliated with receiving the
Property. If picking up, or requesting delivery to a New York
mailing address, you understand that you will be subject to
any applicable sales taxes, as detailed herein unless you have a
valid tax exemption certificate. If you do not pick up or accept
delivery of your purchased Property within ten (10) business
days of account settlement, or if we have not come to some
other written agreement with regards to your receipt of the
Property, Fortuna will charge a daily storage fee to cover, at a
minimum, the insurance and management of your property. If
you do not pick up or accept delivery of your purchased Property
within ninety (90) business days of account settlement,
or if we have not come to some other written agreement with
regards to your receipt of the Property, we may consider that
Property abandoned and rescind the sale on behalf of Property
owner. We reserve the right to hold the merchandise until
cleared or certified funds are received and your account is fully
settled. You will be charged $50 for each check returned for
insufficient funds, and will be held liable for any fees or charges
incurred by Fortuna for such an event. Unless exempt by law,
all purchases (including buyer’s premium) are subject to New
York State Sales Tax.
7. BUYER’S DEFAULT AND RESCISSION OF SALE
7.1 Buyer’s Default.
If you fail to fully pay for your auction purchases, including
all applicable expenses, fees, and taxes by the due date (seven
calendar days after the date of sale) or if any of the terms and
conditions herein are not complied with by you and/or your
Representative or if we suspect, for any reason, that you or
your Representative are fraudulent or are incapable of fulfilling
your obligations as a Buyer pursuant to these Terms and
Conditions, you will be in default, and Fortuna will be fully entitled
to and may elect to pursue one or more of the following
courses of action:
7.1.1 Cancel the Sale.
We may cancel the sale and either offer the lot at a
future auction, sell the lot privately, or return the lot to the
consignor. Regardless of the course of action we elect to
take, if the lot is re-sold you shall be held fully responsible
for the difference between the original total balance due
and the proceeds from the final sale as well as any fees
and expenses we incur during the process of canceling
and reselling the lot(s). If we are not able to resell the lot
you shall be held fully responsible for the Total Purchase
Price and any other fees and expenses originally due to us
on the total balance due as well as any fees and expenses
we incur during the process of canceling and attempting
to resell the lot(s);
7.1.2 Blacklist You.
We may blacklist you and prevent you from bidding
with us indefinitely at our sole discretion, or we may require
you to place a deposit with us before accepting
future bids from you;
7.1.3 Charge You Interest.
We may charge you interest at a rate of up to 1.5% per
month or the maximum allowable by law, whichever is
less, on the amount of your unpaid balance. The first interest
payment will accrue one month after the due date,
and will continue to accrue for each month the balance
is unpaid; or
7.1.4 Hold You Legally Responsible.
We can hold you legally responsible for the Total Purchase
Price plus any applicable fees, interest, or taxes,
as well as any additional legal fees, accounting fees,
collections costs, incidental damages, expert fees, or
other costs related to your default should we choose to
begin legal proceedings for recovery of all outstanding
7.2 Rescission of Sale Limitations.
We warrant, subject to the terms below, that the Property
in our sales are Authentic. “Authentic” is defined as a genuine
example, rather than a copy or forgery of: i) the work of
a particular artist, author, or manufacturer, if the Property is
described in the Heading as the work of that artist, author, or
manufacturer; ii) a work created within a particular period or
culture, if the Property is described in the Heading as a work
created during that period or culture; or iii) in the case of gems,
a work which is made of a particular material, if the Property
is described in the Heading as being made of that material.
If within six (6) months from the date of auction, the original
buyer provides to Fortuna written notice claiming that the
bold type in the first line of the auction catalog lot description
(“Heading”) is not an Authentic representation of the auction
lot, Fortuna will duly consider such claim. Please note the
Heading does not include any information other than in the
Heading even if shown elsewhere in the auction lot description
in bold type. As part of your claim submission you will need
to give us written details, including full supporting evidence
of your claim, the written opinion of at least one recognized
expert in the field of the auction lot, and return the auction lot
at your expense to Fortuna’s offices in New York. If Fortuna
confirms the Property is not Authentic, your only right under
this par. 6 is to cancel the sale and receive a refund of the purchase
price by you to us. We will not, under any circumstances,
be required to pay you more than the purchase price nor will
we be liable for any loss of profits or business, loss of opportunity
or value, expected savings or interest, costs, damages,
7.3 Claims of misrepresentation made by an original
buyer will be considered unsubstantial and rescission of sale
will be rejected if, for the lot(s) in question any of the following
apply: (1) Representation of authenticity of such lot
was in accordance with the generally-accepted opinion of
specialists, scholars, and authorities of that time at the time
of sale; or (2) It was specifically mentioned in the auction
catalog or on the Fortuna website that there was an existing
conflict in expert opinion between specialists, authorities,
and/or scholars regarding the authenticity of the lot, at the
time of sale; or (3) The Heading is qualified , meaning limited
by a clarification in an auction lot’s catalog description (4)
The representation of periods and/or dates in the catalog
description were made using a reasonable amount of effort
and with the tools and technology that were generally
available and in common use at the time of publishing the
sale—furthermore, if new tools, knowledge, and/or technology
exists at the time of the claim, that was either not in existence,
for which the accuracy was in dispute, for which was
not in practice, or for which was not practically obtainable at
the time of publication.
8. INTELLECTUAL PROPERTY RIGHTS
8.1 Fortuna’s Intellectual Property.
Fortuna owns, solely and exclusively, all rights, title, and
interest in and to all intellectual property displayed and/or
contained in and/or on our digital platforms, websites, mobile
applications, social media accounts, print materials (including
but not limited to catalogs, marketing materials, ads, business
cards), and anywhere else our intellectual property might exist.
Specific examples of the intellectual property referenced
here, include but are not limited to, copyrights, patent rights,
database rights, trademarks, trade secrets, trade names,
moral rights, logos, graphics, audio, icons, other visuals, service
marks, branding and brand marks, slogans, content, authorship
rights, attribution rights, modification rights, software,
data, code, property descriptions, print and digital catalog text,
website and marketing material text, formatting and layout,
look and feel, photographs, digital images, illustrations, and/
or videos developed by us or for us—whether or not such intellectual
property is registered in any jurisdiction. You are not
permitted to claim ownership of, download, copy, reproduce,
display, transfer, distribute, publish, sell, modify, perform, create
derivative works from, or otherwise make use of or exploit
in any way any such intellectual property, as defined explicitly
and implicitly herein, without the express and written consent
of a Fortuna Authority. Your use of or observance of anything
contained on our website, digital platforms, mobile applications,
or any other such tools, software, materials, or platforms
should in any way be construed as granting any ownership,
license or right to use any of our intellectual property without
the necessary express written permission detailed herein. Fortuna
may charge a licensing fee for any approved reproduction
and/or use of any such property. We make no guarantee that
you or anyone will be granted a license of permission to make
use of any of our intellectual property.
8.2 Legal Enforcement of Intellectual Property Rights.
If you violate intentionally or unintentionally, with or without
knowledge of these Terms and Conditions, any of the
terms and conditions herein with regards to intellectual property
rights, you may be in violation of copyright laws and other
laws of New York, the United States, and/or other countries
and may be subject to liability for such unauthorized use. Fortuna
will uncompromisingly enforce its intellectual property
rights to the fullest extent of the law. Furthermore, by participating
in any auction, visiting our website, digital platforms,
mobile applications, or interfacing with Fortuna in any way,
you agree to these Terms and Conditions and will grant Fortuna
the right to fully pursue legal prosecution if you are found
to be in violation of these Terms and Conditions.
8.3 Violation of Your Rights.
If you believe or suspect that your intellectual property
rights have been violated in any way by something we have
used or are in use of, please kindly mail and/or email our NYC
headquarters with the details. In your letter to us, please include
your contact information including full name, phone
number, email address, and mailing address; a description of
the intellectual property you believe has been violated; and
a statement by you, that the information in your letter is accurate,
that you are either the intellectual property owner or
authorized to act on the intellectual property owner's behalf,
that you believe that the owner’s rights have been violated,
and that you would be willing to testify to your claims and
the accuracy of your claims in court, under penalty of perjury.
Please electronically or physically sign the letter and submit to
us for our review.
9. GOVERNING LAW; JURISDICTION
9.1 Governing Law.
This Agreement shall be governed by and construed in
accordance with the domestic laws of the State of New York
without giving effect to any choice or conflict of law provision
or rule (whether of the State of New York or any other jurisdiction)
that would cause the application of the laws of any
jurisdiction other than the State of New York.
9.2 Consent to Jurisdiction.
Each of the parties irrevocably (1) submits to the exclusive
jurisdiction of the State courts of the State of New York (and
the Federal courts having jurisdiction in the State of New York,
County of New York) for purposes of any judicial proceeding
that may be instituted in connection with any matter arising
under or relating to this Agreement, (2) waives any objection
that such party may have at any time to the laying of venue of
any action or proceeding brought in any such court, (3) waives
any claim that such action or proceeding has been brought in
an inconvenient forum, and (4) agrees that service of process
or of any other papers upon such party by registered mail at
the address to which notices are required to be sent to such
party (Fortuna’s primary NYC office address) shall be deemed
good, proper and effective service upon such party, provided
that this clause (4) shall not affect the right to effect service
of process in any other manner permitted by the laws of the
State of New York.
9.3 Jury Waiver.
Each party hereby knowingly, voluntarily and irrevocably
waives, to the fullest extent permitted by applicable law, any
rights such party may have to a trial by jury in any judicial proceeding
that may be instituted in connection with any matter
arising under or relating to this agreement.
9.4 Litigation Costs.
If any party resorts to legal action to enforce any of its
rights pursuant to this Agreement, the prevailing party will be
entitled to recover its costs and expenses associated with such
legal action, including costs of investigation, expert fees, court
costs, and reasonable attorneys’ fees at trial or appeal. Attorneys’
fees incurred in enforcing any judgment in respect of this
Agreement are recoverable as a separate item.
10. SECURITY INTEREST
10.1 You hereby grant Fortuna, to the fullest extent permitted
by applicable law, a security interest in and permit
Fortuna to retain as collateral security, the Property and the
proceeds of the sale of the Property, to secure the payment of
any sums Buyer/Bidder/Representative are obligated to pay
under these Terms and Conditions or of any other obligation or
agreement or debt due Fortuna, and Buyer/Bidder/Representative
agrees to execute any documents Fortuna may request
to perfect this security interest. Fortuna will also retain all rights
of a secured party under applicable law. Any foreclosure sale
or other action to pursue Fortuna’s rights will be governed by
the UCC (which shall mean the New York Uniform Commercial
Code, except where the Uniform Commercial Code of another
state governs the perfection of a security interest in collateral
located in that state).
10.2 Where two or more amounts are owed in respect to
different transactions by the buyer to us and any of our other
related entities, subsidiaries or parent companies within the
Fortuna Luxury Group, we reserve the right to recover any balance
due to any said entities, prior to settling with the buyer.
If any sums due to us from the buyer, as a result of the activities
described and contemplated in this Section 9, are not paid
promptly, we reserve the right to impose a finance charge
equal to 1.5% per month (or, if lower, the maximum interest
permitted by applicable law), on all amounts due us, beginning
on the 30th day following the sale, until the account is
11. INDEMNIFICATION AND LIMITATION OF LIABILITY
You agree to defend and indemnify Fortuna, its affiliates
and related entities, its officers, its directors, its employees
and agents, and hold the same harmless from and against,
any and all claims, demands, actions, liabilities, costs, losses
and/or damages (including, without limitation, indirect, incidental,
consequential, economic, compensatory, and/or
business losses), and expenses (including, without limitation,
reasonable attorneys’ fees of counsel selected by the
indemnified person, who may be in-house counsel, and
any expert or accounting fees) in anyway arising out of or
resulting from your use of any tools, software, digital platforms,
websites, bidding platforms, or materials provided
by Fortuna or any third party in connection to Fortuna,
including but not limited to print catalogs, bidder registration
forms (both print and digital), website content and
functionality, any digital platform or service thereon, your
placement or transmission of any messages, information,
content, or other materials through email or any digital
platform, or your deceptive omissions or fraudulent acts,
or your breech of these Terms and Conditions, or your violation
of any laws or regulations or any right of any third
party (including infringement of any intellectual property
rights of any entity). Furthermore, we reserve the right to
assume exclusive control of any matter otherwise subject
to indemnification by you, and in such case, you agree to
cooperate with Fortuna in defense of any such claim. Fortuna
shall provide prompt notice to you of any such claim
or lawsuit, provided that we are made aware of such legal
action, and, if it is one asserted by a third party, we shall
provide reasonable assistance to you, at your expense, in
your defense against any such claim or lawsuit.
11.2 Limitation of Liability for Representation or
Except as expressly provided herein, all property is sold
“as is.” Fortuna makes no explicit or implicit warranties or
representations, as to the value, condition, accuracy of the
description, attribution, authenticity, age, period attribution,
or provenance of the property. The buyer agrees that
Fortuna shall not be held liable for any damages or losses
from errors or omissions in such things. Fortuna makes no
guarantees or warranties with regards to the transfer of
ownership or granted licenses or any intellectual property
under any circumstances. Furthermore, if any act of God,
terrorism, natural disaster or other similarly-unpredictable,
unanticipated, and uncontrollable event prevents Fortuna
from fulfilling its obligations or causes damages, losses, or
harm to any buyer in any way, the buyer agrees that Fortuna
will not be held liable beyond any existing balance due
at the time of the subject event and limited to the funds
recoverable from insurance policies, provided that, at the
time of the event, Fortuna retained such insurance.
11.3 Limitation of Digital Warranties and Liabilities.
All online and digital platforms that Fortuna uses or
offers, both in-house and third-party, including but not
limited to, all functions, materials, content, experiences,
and services, is provided "as is," "as available," and without
warranty of any kind. Fortuna is not liable for any aspect of
online and digital platform service, including but not limited
to data processing, uptime, uninterrupted access, accuracy,
or data. Fortuna makes no warranty or guarantee that
any online and digital platform meets user expectations
or requirements. Fortuna assumes no liability for any potential
risk that may relate to online and digital platforms,
including but not limited to viruses, lost data, stolen data,
damaged data, or any other personal property that may
affected through the use of online and digital platforms.
Fortuna also assumes no responsibility for any error or issue
that relates to our auctions on any online or digital platform,
including but not limited to bidding errors, downtime
during an auction, loss in winning any lot offered in sale, or
confusion or misunderstanding of platform operations or
content. If you are dissatisfied with any such digital platforms,
you shall cease use of the platform and notify the
11.4 If any part of these Terms and Conditions is for any
reason invalid or unenforceable, the rest shall remain valid