Modern + Contemporary Art, Design & Luxury - Winter 2024

Buyers participating in Palm Beach Modern Auctions’ (“PBMA”) auctions, PBMA includes Urban Culture Auctions (“UCA”), acknowledge and accept the following “Auction Terms and Conditions.”  In the “Auction Terms and Conditions,” the terms “you,” “your,” “buyer,” “bidder,” or similar terms mean a person bidding on or buying property.  By registering to bid or by placing a bid through any means, you agree to be bound by the following terms and conditions:

1. Conduct of the Auction:  The auctioneer has the right, in his/her sole discretion, to determine the conduct of the sale, including, without limitation, to advance the bidding, to reject any bid offered, to withdraw any lot, to reoffer and resell any lot, and to resolve any dispute in connection with the auction or sale. In any such case, the judgment of the auctioneer is final and shall be binding upon all auction participants. If the Internet stops working during an auction, the auctioneer has the right, in his/her sole discretion, to proceed with, or reschedule, the auction. You agree to allow PBMA to use your contact information, including your physical and email addresses, for marketing purposes including receiving eblasts and mailers.

2. Bid Increments:  Auctions will be conducted in the following increments:  from $0, increments of $25; from $500, increments of $50; from $1000, increments of $100; from $3000, increments of $250; from $5,000, increments of $500; from $10,000, increments of $1000; from $30,000 (and above), increments at the auctioneer’s discretion.

3. Buyer’s Premium:  All bidders will be charged a buyer’s premium of 28% (all forms of bidding including in-house, phone, absentee and internet bidding) of the hammer price on any lot up to and including $500,000; 23% of any amount between $500,001 and above. The total sales price of an item will be calculated as follows:  the hammer price of the item, plus the buyer’s premium, plus sales tax, unless exempt (see “Sales Tax” below), plus 3% fee if payment is made via Paypal or credit card.

4. Sales Tax:  No sales tax will be charged if the successful bidder provides PBMA with a copy of a valid “Resale Form” or “Tax Exempt Certificate.”

• SALES TAX NOTICE TO FLORIDA BIDDERS:

Sales tax will be added to all purchases at the rate of 7% (Palm Beach County sales tax rate) of the hammer price plus the buyer’s premium, see exception below*.

• SALES TAX NOTICE TO USA BIDDERS:

The June 2018 U.S. Supreme Court decision South Dakota v. Wayfair, Inc. enabled state governments to impose sales tax on items purchased from remote sellers. Like other USA businesses who ship nationwide, Palm Beach Modern Auctions is subject to this legislation, see exception below*.

For this reason, your purchases in this auction may be subject to sales tax even if shipped to a destination outside of Florida. The tax rate and threshold at which we are required to collect and remit sales tax (point of ‘economic nexus') is determined by the destination state/county/city. For details on the way this may impact you, we suggest research via your local government or tax professional, see exception below*.

• AUTOMATIC NEXUS: NEW YORK, CALIFORNIA & TEXAS will be subject to their state’s sales tax, which will be reflected on the invoice. Please note other states may become a nexus based on bidding activity and invoices will include sales tax as required by law, see exception below*.

* EXEMPTION BY RESALE CERTIFICATE: Bidders with a current, valid resale certificate are encouraged to email a copy to info@modernauctions.com prior to the auction date.