August 8 The Marine Auction

Terms and Condition of Sale 1. Rafael Osona Auctions has exercised great care to catalog and describe correctly the property to be sold, and neither we nor the Consignor make any guarantees, warranties or representations, expressed or implied with respect to the property, merchantability or correctness of the catalog or other description of the authenticity of authorship, physical condition, size, quality, rarity, importance, provenance, exhibitions, literature or historical relevance of the property or otherwise. All property offered in this sale is sold “AS IS”. No statement anywhere, whether oral or written shall be deemed such a guarantee, warranty or representation. Prospective bidders should inspect the property before bidding to determine its condition, size and whether or not it has been repaired or restored. No sale will be set aside on account of incorrectness, error of cataloguing, or imperfections not noted. 2. Some lots in this sale are offered subject to a reserve. The reserve is a confidential minimum price agreed upon by the Consignor and Rafael Osona Auctions, below which the lot will not be sold. In most cases, the reserve will be set below the estimated range, but in no case will it exceed the estimates listed. The Gallery will execute such reserves by bidding for the Consignor. In any event whether or not a lot is subject to a reserve, the auctioneer may reject any bid or raise not commensurate with the value of the lot. 3. The highest bidder acknowledged by the Auctioneer will be the purchaser. In the event of the dispute between bidders, or in the event of doubt on our part as to the validity of any bid, the auctioneer will have the final discretion either to determine the successful bidder or to re-offer and resell the article in dispute. 4. At our discretion we will execute order bids, accept telephone bids and online as a convenience to clients who are not present at auctions, we are not responsible for any errors or omissions in connection therewith. While the sale is in progress bidding by telephone or online may be allowed by the auctioneer at his discretion. Rafael Osona Auctions shall not he held responsible for any failure to properly execute such a bid whether it be due to equipment failure, loss of connection, or failure to hear or understand the bidder’s directions. 5. Acceptable methods of payment include cash, cashier’s check, money order and wire transfer (with nominal fee). Personal checks will be acceptable only if credit has been established with Rafael Osona, or if a bank authorization has been received guaranteeing a personal check. Osona reserves the right to hold merchandise purchased by personal check until the check has cleared the bank. Rafael Osona does not accept payment by credit card for merchandise purchases. On title passing to the highest bidder acknowledged by the auctioneer, and subject to all the conditions set forth herein, such bidder will thereupon pay the full purchase price. All property must be paid for at the time of sale and removed from our premises. Immediately following the auction if purchases are not retrieved, we may send the purchased property to an offsite shipping facility or warehouse at the sole risk and expense of the purchaser. 6. Items made with whalebone, whale ivory or other protected species will not be shipped internationally. 7. A Buyer’s Premium of 21% will be added to the hammer price to be paid by the Buyer as part of the purchase price if purchased directly with Rafael Osona Auctions. The Buyer’s Premium of 24% will be added to the hammer price if said lots are purchased through Bidsquare. All purchases whether in person, phone bids, absentee bids, online bidding must be picked up by 5:00 pm the day of the sale, or arrangements must be made for on-island delivery or off-island shipping. 8. On the fall of the auctioneer’s hammer, title to the offered lot will pass to the highest bidder acknowledged by the auctioneer (subject to fulfillment by such bidder of all of the conditions set forth herein), and such bidder thereupon assumes full risk and responsibility, therefore. 9. Unless exempt by law, the purchaser will be required to pay the Massachusetts sales tax or any applicable compensating use tax of another state on the total purchase price. The rate of sales tax in Massachusetts is currently 6.25%. Tax exempt clients must provide our office with a copy of their valid resale certificate prior to bidding. 10. We reserve the right to withdraw any property before the sale. 11. If the purchaser breaches any of its obligations under these Conditions of Sale, including its obligation to pay in full the purchase price of all items for which it was the highest successful bidder, Rafael Osona Auctions may exercise all of its rights and remedies under the law including, without limitation (a) cancel the sale, retaining as liquidated damages all payments made by the purchaser or (b) resell the property at public auction without reserve, and the purchaser will be liable for any deficiency, as well as costs, including handling charges, the expense of both sales, our commission on both sales at our regular rates, all other charges due hereunder and incidental damages. 12. We are not responsible for the acts or omissions of carriers or packers of purchased lots, whether or not recommended by us. Packing and handling of purchased lots by us is at the entire risk of the purchaser. In no event will we be liable for damage to glass or frames, regardless of the cause. 13. In no event will our liability to a purchaser exceed the price actually paid. 14. Bidding at an auction, whether present, by proxy (agent, order, telephone, online bid), or by any other means constitutes your acceptance of these Terms and Condition of Sale.