Terms and Conditions of Sale
The property offered and sold through Todd Merrill Studio, (hereinafter Gallery) public auctions (hereinafter the Property) shall be offered and sold pursuant to the terms and conditions set forth below (hereinafter the Agreement). This Agreement constitutes the complete statement of the terms and conditions pursuant to which all Property is offered for sale. By bidding at the auction, whether in person, by agent, in writing, by telephone, internet bid or any other means, the buyer of the Property (hereinafter the Buyer) agrees to be bound by this Agreement.
PROPERTY SOLD AS IS. All Property is sold as is, where is, with all faults. Neither Gallery nor any consignor makes any guarantees, warranties or representations, expressed or implied with respect to the Property or the correctness of the catalogue or any other description of the Property. In no event shall Gallery or the consignor be responsible for the correctness, nor be deemed to have made any representation or warranty, of description, genuineness, authorship, attribution, provenance, period, culture, source, origin or condition of the Property. No statement made at the sale, or in the bill of sale, or invoice or elsewhere shall be deemed such a guarantee, warranty or representation.
WITHDRAWAL OF PROPERTY. Gallery reserves the right to withdraw any Property at any time for any reason and to default any sale in the event of an error or dispute.
COPYRIGHT AND REPRODUCTION RIGHTS. Gallery and its consignors make no warranty or representation, express or implied, that the Buyer will acquire any copyright or reproduction rights to any Property sold. Gallery expressly reserves the right to reproduce any image of the Property sold in the catalogue. The copyright in all images, illustrations and written material produced by or for Gallery relating to Property, including the contents of the catalogue, is, and shall remain at all times, the property of Gallery and shall not be used by the Buyer, nor by anyone else, without Gallery’s prior written consent.
EXAMINATION OF PROPERTY. All Property is available for examination at Todd Merrill Studio, 80 Lafayette Street, NYC during the duration of the auction. The Buyer’s bidding signifies that the Buyer has examined the Property as fully as desired or has chosen not to examine the Property. Gallery will provide written condition reports for the Property upon request.
RESERVES. Some of the Property in the sale is offered subject to a reserve. The reserve is a confidential minimum price agreed upon by the consignor and Gallery below which the lot will not be sold. The auctioneer always reserves the right to withdraw Property for any reason he deems appropriate.
BUYERS PREMIUM. A 5% buyer’s premium will be added to the hammer price on each lot sold online via Bidsquare.
ORDER OF BIDS. Unless otherwise announced by the auctioneer, all bids are per lot as numbered in the catalogue. Gallery reserves the right to determine any and all matters regarding the order, precedence or appropriate increment of bids or the constitution of lots.
Following are general guidelines for bidding increments:
Over $100,000: $10,000
HIGHEST BIDDER. The highest bidder as determined by the auctioneer shall be the Buyer. In the case of a disputed bid, the auctioneer shall have sole discretion in determining the Buyer and may also, at his or her election, withdraw the Property or reoffer the Property for sale. The auctioneer shall have sole discretion to refuse any bid, or refuse to acknowledge any bidder. At such time as the auctioneer has declared Property sold to a given Buyer, said Buyer thereupon assumes full risk and responsibility for the Property, agrees to sign any requested confirmation of purchase, and agrees to pay the full price, plus Buyers Premium, therefore or such part, upon such terms as Gallery may require.
REMOVAL OF PROPERTY. All items must be picked up, or shipping arrangements made, within four weeks of the day of sale. Items not collected by the 30th day following the sale may be sold by Gallery and Gallery may prohibit the Buyer from participating, directly or indirectly, as a bidder or purchaser in any future sale. No Property may be removed from Gallery’s premises until the Buyer has paid in full the purchase price including Buyers premium.
PACKING AND SHIPPING. As the buyer, you are responsible for the pick up or shipment of the property you’ve purchased. Under no circumstances will Gallery be held responsible for items entrusted to a third-party shipper.
TAXES. All purchases are subject to New York sales tax unless the Buyer possesses a New York sales tax exemption number. Exemption numbers from other states are accepted in New York if presented with a business card or letterhead. Dealers, museums, and other qualifying parties can apply for a New York exemption number prior to the auction. Buyer is responsible for any and all tariffs, taxes and assessments that might be made on the Property. International Buyers are responsible for tariffs, taxes, or assessments of shipped items to the Buyers country. No New York sales tax is charged for purchases shipped out of state.
IMPORT/EXPORT RESTRICTIONS. Some property that is sold at auction can be subject to laws governing export from the United States, such as items that include material from some endangered species. Import restrictions from foreign countries are subject to these same governing laws. Granting of licensing for import or export of Property from local authorities is the sole responsibility of the Buyer. Denial or delay of licensing will not constitute cancellation or delay in payment for the total purchase price of said Property.
BUYERS BREACH. If the Buyer breaches any of its obligations under this Agreement, including its obligation to pay in full the purchase price of all Property for which it is the highest successful bidder, Gallery may exercise all of its rights and remedies under the law including, without limitation, (a) canceling the sale and applying any payments made by the Buyer to the damages caused by the Buyers breach, and/or (b) offering at public auction, without reserve, any lot or item for which the Buyer has failed to pay in full the purchase price, holding the Buyer liable for any deficiency plus all costs of sale.
GOVERNING LAW. These conditions of sale shall be governed by the laws of the New York State (excluding the laws applicable to conflicts or choice of law). The Buyer agrees that any suit for the enforcement of this Agreement may be brought, and any action against Gallery in connection with the transactions contemplated by this Agreement shall be brought, in the courts of New York or any federal court sitting therein. The Buyer consents to the nonexclusive jurisdiction of such courts and waives objections that it may now or hereafter have to the venue of any such suit.
AMENDMENTS TO TERMS AND CONDITIONS. No claimed modification or amendment of this Agreement on the part of any party shall be deemed extant, enforceable or provable unless it is in writing that has been signed by the parties to this Agreement. No course of dealing and no delay or omission on the part of Gallery in exercising any right under this Agreement shall operate as a waiver of such right or any other right and waiver on any one or more occasions shall not be construed as a bar to or waiver of any right or remedy of Gallery on any future occasion.