No Reserve Antique, Vintage & Modern Rug Auction

By placing a bid during a Nazmiyal Auction, the buyer agrees that such a bid constitutes acceptance of the following terms: Buyer’s Premium: A buyer’s premium will be added to the hammer price of all successful bids (See Buyer's Premium Section). Total Sale Price: The total sales price of an item consists of the hammer price plus the buyer’s premium and any applicable sales and/or other taxes. Bidding through our website auctions Before bidding all buyers must establish credit/open an account. You will be asked to furnish identification, present address, contact information, a valid credit card number. In some cases, you may be asked to supply credit references and /or an initial deposit. All buyers agree to abide by the Nazmiyal Auctions policies of bid history disclosure. This includes the policy that live online bidder’s increments are not reported when bidding against an absentee bid until the absentee bid is surpassed. Buyer agrees to register to bid at least one hour before the start time. Buyers acknowledge that Nazmiyal will not be held responsible for errors or failure to execute any online bid(s). Absentee & Telephone Bidding: You can click here to view and download the Absentee & Telephone bid form. You may also contact us via auction@nazmiyal.com or call: +1 (212) 213-5776 if you would like the forms emailed or faxed to you. To ensure the bid, absentee bidders should place their bids at least two hours prior to the sale’s start time. Buyers may also want to confirm with us directly that the forms have been received. Shipping & Packaging All shipping and insurance costs are to be paid by the buyer. The Packaging is free as a service for our auction customers. Nazmiyal Auctions ships to various locations all over the World via all major shipping companies. We do not ship to P.O. Boxes. Please call us directly for shipping quotes and estimated Shipping/Insurance. Overnight shipping is available. We ship by the most secure methods possible. All items are professionally packed in-house. Please inquire for specific shipping charges to your location prior to bidding via email: auction@nazmiyal.com Picking Up Lots Successful bidders have the option of combining auction lots to save money on shipping. If you notify Nazmiyal 24 hours prior to pick up you may collect your lots in person Monday through Friday between the hours of 9:00 am & 12:00 noon and 1:00 pm and 4:30 pm. Methods of Payments Accepted by Nazmiyal Auctions Nazmiyal prefers Bank Wire Transfers. We also accept Visa, MasterCard, Amex, Money Orders, but only when shipped to confirmed addresses. Nazmiyal accepts personal checks, but they must clear before customers may take receipt of merchandise. Unless payment by credit card, Wire-Transfer, or check has already gone through, pick-ups from NYC Gallery require cash payment or money order. Nazmiyal will charge 3% additional fees for credit card usage. Pick-ups and shipments within New York State are required to pay applicable sales tax 8.875%. All International bidders are required to pay by bank wire transfers (Swift, Chips, etc.). International bidders are also responsible for taxes (VAT) and duties imposed by their own governments upon receipt of the items. Payments Due Nazmiyal shall contact the successful bidder within 3 days of the completion of the auction by email, fax and or phone. Complete payment is due upon receipt of notification from Nazmiyal of a successful bid no later than 5 days following the end of the auction. Title of ownership shall pass to the buyer once payment in full has been made. Winning Bid The highest bidder will be determined as the buyer. If any dispute arises between two or more bidders, Nazmiyal shall decide who constitutes the winning bidder. Reserve Price Some Lots are offered in our auctions are subject to a reserve price. A reserve is a confidential minimum price below which such a lot will not be sold. Inquiries Prospective buyers are encouraged to inspect the rugs in person at the Nazmiyal NYC Antique Rug gallery during the preview times and dates, or at different times arranged by appointment in advance. You may also email or call us for specific questions regarding lots at our auction. Inquiries will be answered in a timely fashion until auction start time. We can provide additional detailed photos, as well as reference information on most lots. Withdrawal Prior to Sale Nazmiyal reserves the right to withdraw any lot prior to the auction without any liability whatsoever for such withdrawal. Guarantee Terms All items in the catalog are sold as-is. Prospective bidders are encouraged to inspect the lots personally in order to determine their condition. The foregoing guarantee is only valid to the original buyer. While we do our best to represent the lots and their condition in the most accurate way, our condition reports and descriptions should be considered as opinion and not fact. No sale shall be nullified due to discrepancies in the information provided by Nazmiyal to the prospective buyer as all lots are sold “As-Is”. No purchaser shall be entitled to any remedy, relief or damages beyond the return of the property, rescission of the sale, and refund of the total purchase price. And, without limitation, no purchaser shall be entitled to damages of any kind. Should we be prevented by fire, theft or any other reason whatsoever from delivering any property to the purchaser, our liability shall be limited to the total price actually paid by the purchaser, including the buyer’s premium and sales tax, if paid. But nothing more. Entire Agreement; Waiver The agreement as set forth here constitutes the entire understanding and agreement of the parties and supersedes any and all other written or oral agreements or understandings between the parties as to the subject matter of this agreement. In the event of an inconsistency between this Agreement and any other document which is part of this agreement, the terms of this agreement shall govern. From time to time during the term of this agreement, Nazmiyal may amend this agreement (including any incorporated documents) by posting the amended terms on the Nazmiyal Auctions website. Any such amendment will be effective immediately after it has been posted on our website, or emailed to the buyer, or otherwise communicated to the Buyer. The waiver of a breach of any provision of this Agreement will not constitute or be interpreted as a waiver of any other or subsequent breach. When using a credit card as the payment method for lots purchased at auction a surcharge of 3% on the total amount reflected in the invoice is added for items bought. The laws of the State of New York shall govern all transactions. Bid Increments $0 – $100 : $10 $100 – $1000 : $100 $1000- $5000 : $250 $5000 – $10000 : $500 $10000 – $ 20000 : $1000 $20000 – $ 50000 $2500 $50000 – $100000 $5000 $100000 +: $10000 Nazmiyal Auction consignors/sellers Terms and Conditions Scope of the assignment Nazmiyal Auctions undertake as an agent on behalf of the seller (“The Principal”), under the following terms and conditions, to sell at auction items submitted by The Principal in New York for selling. Unless otherwise agreed, Nazmiyal Auctions has the right to sell submitted items in the auction format (live auction or online auction), as Nazmiyal Auctions consider appropriate and to promote the item in other forums besides nazmiyalauction.com Submission/acceptance of items The Principal is responsible for ensuring that he/she has full and sole rights to the items submitted to Nazmiyal Auctions for sale. If this is not the case the Principal must, with the support of a written document, be able to prove his/her eligibility and right to sell and collect payment for the submitted item. When agreement on a sale has been made, a special sales agreement shall be drawn up between the parties, so-called advice of receipt / contract. After customary inspection and valuation, Nazmiyal Auctions place an estimate on each item. The estimate is based on market valuation but the price to which an item is finally sold can significantly exceed or fall short of the estimate. The estimate only constitutes an opinion or guidance for the purchaser. Nazmiyal Auction reserves the right to unilaterally and without the right to compensation for the Principal, withdraw from the sales assignment should there be any doubt concerning the authenticity of the item, right of ownership to the item or any other circumstances deemed significant enough to warrant such action. Reserve price A reserve price means that Nazmiyal Auctions, on behalf of the seller, ensure that an item does not sell below the agreed minimum price. The reserve price shall be confirmed on the advice of receipt/contract. A reserve price is not available for items with an estimate of $500 or lower – such lots are sold without a reserve. Unsold items The first time a lot goes up for auction and is unsold, unless other agreements have been made in writing prior to the item going up for auction, it will automatically be put back into the a subsequent Nazmiyal auction, within 30 days, at a reserve price that is 10% lower as stated in the contract of sale agreement between the principal and Nazmiyal. If the item is unsold the second time, and if Nazmiyal decides not to try and sell it a third time, the item it is to be collected (or arranged to be shipped back) by the Principal no later than ten (10) calendar days after the end of the auction. If the item is not collected within the prescribed time, a storage fee of $10 will be charged per calendar day. Should an item not be collected within one (1) month of The Principal having been requested to collect the item, the principal forfeits his / her right to the item giving Nazmiyal auctions the right to sell the item without reserve or otherwise dispose of the item. If Nazmiyal auctions sells the item (through its auctions or by any other means), Nazmiyal will have the right to deduct any outstanding commission and all charges and expenses from the sale proceedings before sending the amount due to consignor. Accounts / payment A notice will be e-mailed or mailed immediately after the end of the auction. Payment is made from Nazmiyal auctions within 15 banking days after the auction on condition that full payment is received by Nazmiyal from the purchaser and that there has not been a claim. Nazmiyal Auctions has no responsibility for taking action against the purchaser and is not responsible to the seller for the purchaser’s implementation of the purchase. The actual payment would reflect the deduction of agreed commission in the contract and any other related expenses. Liability for faults If Nazmiyal Auctions in relation to the purchaser of items become liable for faults and are thus liable for payment of damages, Nazmiyal Auctions has the right to demand corresponding compensation from The Principal. The Principal agrees that the item is sold in accordance with the terms and conditions generally applied by Nazmiyal Auctions. Nazmiyal Auctions reserve the right to move, close or change the length of any listing due to circumstances within or without their control. Force Majeure Nazmiyal Auctions is not responsible for loss suffered by the purchaser in the event of a canceled auction sale or delayed payment occurring as a result of, fire or other accident or circumstance in general beyond the control of Nazmiyal Auctions or which they could not foresee. Disputes Any dispute that might arise under an agreement regarding an item received in New York City for selling shall be settled in accordance with New York law. Handling of personal information Personal information submitted in contact with Nazmiyal auctions within the framework of a customer / contractual obligation is handled both manually and electronically for implementation of the auction activities within Nazmiyal auctions as well as obligations in accordance with the law. Seller commission Unless otherwise stated in the signed contract of sale between the Principal and Nazmiyal, the seller is charged a sales commission of 25% of the hammer price. Other additional fees If the Principal chooses to withdraw from the sales assignment before the item has been published, a fee of $500 is collected as compensation to Nazmiyal auctions.