Conditions of Sale
Bidding in this auction sale constitutes acceptance by you ("Bidder") of all the Terms of Sale stated herein. ALL SALES ARE FINAL. This is a sight sale and all lots are sold "as- is."
A twenty-eight percent (28%) Buyer's Premium will be added to the hammer price of each lot.
A reduced Buyer's Premium of twenty-six percent (26%) will be added to the hammer price when payment is made within five (5) business days with cash, debit card (in person only with valid personal identification), wire transfer, or checks pre-approved by Alex Cooper Auctioneers, Inc. ("Alex Cooper"). A five percent (5%) surcharge will be added to all purchases made through Invaluable or AuctionZip.
Shipping arrangements are the responsibility of the purchaser. Please review each item's condition and contact an Alex Cooper specialist for condition reports and verification before bidding. Alex Cooper is not responsible for any errors or omissions in a lot's description. The absence of a condition statement does not imply that the lot is in perfect condition, nor is free from wear and tear, imperfections or the effects of aging. Prospective buyers may submit an inquiry requesting a more detailed examination and/or clarification of a condition report.
These Terms and Conditions of Sale contain all terms and conditions on which Alex Cooper and the seller contract with the buyer of any personal property sold at auction by Alex Cooper. These Terms and Conditions of Sale may be amended by Alex Cooper at any time and from time to time through the time of sale by any notices posted or oral announcements made during the sale. By bidding at an Alex Cooper auction, whether in person or by agent, absentee bid, telephone, internet, Invaluable, AuctionZip or its affiliates, you agree to be bound by these Terms and Conditions of Sale.
1. AGENCY. Alex Cooper acts as agent for the sellers of the property described in all catalogues. The contract for the sale of each item is a contract between the owner of the item and the winning bidder.
2. PRESALE ACTIVITY.
A. Inspections. All Alex Cooper auctions are sight sales. Bidders are strongly advised to personally inspect and examine any items that you contemplate bidding on. If you purchase any item sight unseen, you accept all responsibility for such purchase; without limitation, you accept any defects, damages, past repairs, irregularities, and all other physical conditions that could have been determined by your inspection of the property. If the results of your inspection and/or evaluation of any lot leave uncertainty in your mind as to any matter you deem relevant to your potential purchase, Alex Cooper recommends that you have an independent expert examine the lot for you or do not bid on the item in question. Neither Alex Cooper nor the seller makes any warranty or guaranty as to property offered at auction except as provided in Section 5 hereof.
B. Descriptions. Written and oral descriptions, including without limitation catalogue and internet descriptions and condition reports, are our opinions only, and should not be construed or relied upon as statements of fact nor as guarantees of any kind. Such statements do not constitute a representation, warranty or assumption of liability of any kind by Alex Cooper. Alex Cooper is not responsible or liable for the accuracy of the catalogue, internet listing, condition reports, or other descriptions, except as provided in Section 5 hereof. Any references to damage, repair or restoration are for guidance only and should be evaluated by personal inspection by the bidder; the absence of such references does not imply that an item is free from defects, repairs, or restoration, nor does a reference to particular defects, repairs or restorations imply the absence of others. Condition of frames on artwork is not generally described. All measurements are approximate. Jewelry descriptions are only estimates as to carat size, gold content, number of stones, etc. Upholstered furniture has not been disinfected.
C. Images. All images in Alex Cooper catalogues are for identification purposes only and are not intended to represent the actual color or clarity of the item being auctioned. All photos are of the actual items being auctioned unless otherwise noted in the catalogue or online listing. Please note that the photos may be enlarged to show detail or reduced for inclusion in the catalog online listing.
D. Price Estimates. Any estimate of the selling price of an item stated in our catalogue or internet listing is intended as a guide for prospective bidders. Any bid between the listed figures would, in our opinion, offer a fair chance of success. However, all property can bring prices either above or below stated estimates. Stated estimates should not be relied upon as the value of the item, nor as a statement that this is the price at which the item will in fact sell.
E. Buyer's Responsibility. Except as stated in Section 5 hereof, all property is sold "AS IS" without any representation or warranty of any kind by Alex Cooper or the seller. Buyers are responsible for satisfying themselves as to all aspects of property condition and descriptions, including without limitation genuineness, attribution, provenance, authenticity, authorship, completeness, condition, damage, repairs, restorations, estimates of value, and all matters referred to in catalogue entries, internet descriptions, condition reports, and elsewhere.
3. CONDUCT OF SALE.
A. Bidder Qualification. Alex Cooper may from time to time establish standards of qualification for bidders. Internet bidders must qualify through Invaluable or AuctionZip online bidding software. Alex Cooper reserves the right, at its complete discretion, to refuse admission to the premises and/or participation in any auction, and to reject any bid.
B. Bidder Registration. Prospective bidders are required to register prior to the auction. Registration is available a limited number of days prior to the auction. Online bidders may register through Invaluable or AuctionZip online bidding software. PRIOR TO BIDDING, ALL REGISTRANTS ARE REQUIRED TO CAREFULLY READ ALL TERMS AND CONDITIONS OF SALE AND THE DESCRIPTIONS FOR THE LOTS ON WHICH THEY INTEND TO BID, AND BIDDERS AGREE TO BE BOUND BY THESE TERMSAND CONDITIONS OF SALE. Any questions shall be directed to Alex Cooper prior to bidding. Registrants are responsible for payment of purchases resulting from all winning bids. No children under age 13 are permitted at exhibitions or sales.
C. Online Bidding. Online bidding is offered as a service to our customers. Bidders shall not hold Alex Cooper responsible for any errors or failures in executing bids, nor shall they hold Alex Cooper responsible for any failure due to the loss of the auction applet supplied to us by Invaluable or AuctionZip online bidding software. Online bids are bid electronically by Invaluable or AuctionZip online bidding software and compete against live bids at Alex Cooper's Gallery, online bids placed on Alex Cooper's Bidding Platform, telephone bids, and absentee bids. Online bids are announced competitively by a member of Alex Cooper's staff during the live auction at Alex Cooper's Gallery. Alex Cooper may be offered other bids of the same value as your online bid. The auctioneer's discretion determines which bid it chooses to accept during the auction.
D. Acceptance and Rejection of Bids. Alex Cooper reserves the right to accept or reject any bid for any reason whatsoever. The highest bidder acknowledged by Alex Cooper will be the winning bidder. In the event of any dispute between bidders, or in the event of doubt on Alex Cooper's part as to the validity of any bid, Alex Cooper will have the exclusive final discretion to determine the successful bidder, cancel the sale, or to re-offer and resell the item in dispute. Alex Cooper is not responsible for any errors or omissions in connection therewith. Alex Cooper shall be the sole arbitrator in case of any disputed bid.
E. Reserves. It is the policy of Alex Cooper to act as agent on behalf of the sellers. Alex Cooper does not permit a seller to bid on his or her own lots unless expressly so stated or except as herein set forth. Unless advertised otherwise, some lots may be offered subject to a reserve. A reserve is the minimum price that the seller is willing to accept for the lot, which may or may not be disclosed, and which may be determined or modified at any time by written or verbal communication between the seller and Alex Cooper through conclusion of the auction sale for that lot. If a reserve is established, it is generally at a percentage of the low estimate and will not exceed the low estimate for the lot. It is important for all bidders to know that Alex Cooper may open the bidding on any lot by placing a bid on behalf of the seller, and may continue to bid on behalf of the seller up to the amount of the reserve price, either by placing consecutive bids or by placing bids in response to other bidders. Alex Cooper will not place consecutive bids on behalf of the seller above the reserve.
F. Withdrawal of lots. Alex Cooper reserves the right to withdraw any lot before or during the sale and shall have no liability whatsoever for such withdrawal. No participant in the auction sale shall have a right to claim any damages, including consequential damages if a lot is withdrawn.
G. Bidding Increments. Alex Cooper uses the following increment multiples for all bidding, whether live, absentee, telephonic or internet.
Bid Range Increments
$0 - $99 $10
$100 - $499 $25
$500 - $999 $50
$1,000 - $1,999 $100
$2,000 - $4,999 $250
$5,000 - $9,999 $500
$10,000 - $19,999 $1,000
$20,000 - $49,999 $2,500
$50,000 - $99,999 $5,000
$100,000 - $199,999 $10,000
$200,000 - + $25,000
H. Winning Bids. Subject to Alex Cooper's absolute discretion, the highest bidder accepted by Alex Cooper will be the winning bidder, and the striking of the hammer marks the acceptance of the highest bid and the entry of a contract between the seller and winning bidder. The winning bidder assumes full responsibility and risk of loss for items purchased at the fall of the hammer. Any person submitting bids on behalf of a corporation or other entity, by making such bid, agrees to be personally liable for the payment of the purchase price and any related charges and the performance of all Buyer obligations under the Terms of Sale. ALEX COOPER IS NOT RESPONSIBLE FOR ANY ERRORS IN BIDDING. All Bidders should make certain to bid on the correct lot and that the bid is the bid intended. Once the hammer has fallen and the auctioneer has announced the winning bidder/buyer, the buyer is unconditionally bound to pay for the lot, even if the winning bidder/buyer made a mistake.
4. FOLLOWING THE SALE.
A. Invoice. The bidder acknowledges that the invoice describing a lot by number incorporates the catalog and these Terms and Conditions of Sale.
B. Buyer's Premium. A twenty-five percent (28%) Buyer's Premium will be added to the hammer price. A reduced Buyer's Premium of twenty six percent (26%) will be added to the hammer price for payment within five (5) business days by cash, debit card, or wire transfer. In addition, an Invaluable or AuctionZip bidding fee of five percent (5%) will be added to the hammer price of each lot purchased through Invaluable or AuctionZip online bidding software.
C. Tax. All purchases will be subject to a six percent (6%) Maryland sales tax unless: (i) the property purchased is for resale and a valid Resale Tax number is presented to Alex Cooper's business office at the time of payment, and the sales price is $200 or more; or (ii) the property is being shipped to a buyer located outside the state of Maryland; or (iii) the total invoice amount of COINS (excluding buyer's premium) exceeds $1,000. All applicable value added tax, sales tax, compensating use tax, or equivalent or other taxes shall be paid by the winning bidder.
D. Payment. Winning bidders must pay for and pick up purchased items from Alex Cooper within five (5) business days following the auction. Alex Cooper accepts cash, debit card, certified checks, or all major credit cards as payment. Credit card payments are limited to a total invoice amount of $10,000 or less. Debit and credit card payments may only be made in person with valid personal identification. Wire transfers are encouraged and can be arranged through our accounting department. No personal checks will be accepted without prior approval. On any cash transactions or series of transactions exceeding $10,000, Treasury Form 8300 will be filed. All property must be paid within one (1) week following the close of the auction. Online bidders should contact Alex Cooper at 410-828-4838 to arrange payment.
E. Collection of Lots/Shipping. No lots shall be delivered to or collected by the winning bidder until Alex Cooper has received all funds due including the total purchase price and all applicable taxes and storage fees. All payments must be cleared prior to the release of any lot. All lots must be picked up by the winning bidder or the winning bidder's shipper within five (5) business days following the close of the auction. Items left beyond five (5) business days following the close of the auction will be subject to a storage fee of $10.00 per day for each item. In the event that an item remains on the premises of Alex Cooper for more than thirty (30) days following the close of the auction, Alex Cooper, may, in its sole discretion: (i) transfer the item to an independent warehouse on behalf of the winning bidder and at the winning bidder's expense; or (ii) sell or dispose of the item in a commercially reasonable manner.
F. Remedies for breach. If any applicable conditions herein are not complied with by a winning bidder, in addition to other remedies available by law, including without limitation the right to hold the winning bidder liable for the total purchase price, Alex Cooper at its option may either: (i) cancel the sale, retaining as liquidated damages all payments made by the winning bidder, or (ii) resell the property without reserve or minimum selling price, and the winning bidder will be liable for any deficiency and costs, including handling charges, expenses of both sales, the commission on both sales at regular rates, all other charges due hereunder and incidental damages. In the event of breach by internet bidders of these Terms and Conditions of Sale, Alex Cooper may file a Non-Paying Bidder Alert to Invaluable or AuctionZip. Alex Cooper reserves the right to impose a carrying charge of 1.5% per month on past due accounts. Bidders agree to pay reasonable attorney's fees and costs incurred to collect past due accounts.
5. LIMITATION OF WARRANTIES.
NO WARRANTIES. ALL LOTS ARE OFFERED, AND ALL PROPERTY IS SOLD, "AS IS" WITH NO GUARANTIES OR WARRANTIES OF ANY TYPE. WITHOUT LIMITATION, NEITHER THE SELLER NOR ALEX COOPER, NOR ANY OF OUR OFFICERS, EMPLOYEES OR AGENTS, MAKE ANY REPRESENTATION, WARRANTY OR GUARANTY, NOR ASSUME ANY LIABILITY OF ANY KIND WITH RESPECT TO MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, DESCRIPTION, SIZE, GRADING, QUALITY, ATTRIBUTION, GENUINENESS, AUTHENTICITY, PROVENANCE, AGE, CONDITION, MATERIALS, AUTHORSHIP, COMPLETENESS, DAMAGE, REPAIRS, RESTORATIONS, ESTIMATES OF VALUE OR ANY OTHER FEATURES. NEITHER THE SELLER NOR ALEX COOPER, NOR ANY OF ITS OFFICERS, EMPLOYEES OR AGENTS, ARE RESPONSIBLE FOR THE CORRECTNESS OF ANY STATEMENT OF WHATEVER KIND CONCERNING ANY LOT, WHETHER WRITTEN OR ORAL, NOR FOR ANY ERRORS OR OMISSIONS IN DESCRIPTION OR FOR ANY FAULTS OR DEFECTS IN ANY PROPERTY. BUYER HEREBY ASSUMES ALL RISKS CONCERNING AND RELATED, INCLUDING BUT NOT LIMITED TO, THE GRADING, QUALITY, DESCRIPTION, CONDITION, AUTHENTICITY, AND PROVENANCE OF A LOT.
A. All Sales are Final. Items are sold with all faults and are not returnable for any reason except as set forth in the following paragraph.
B. Limited Rescission Right. Alex Cooper agrees that a winning bidder who purchases an item has the limited right to rescind the sale (and Alex Cooper will return all payments by the winning bidder) for the Rescission Period, if and only if the physical condition of the property materially differs from what was described in the online listing for the property or if the description is, in any material respect, inaccurate. In order to exercise this limited right of rescission, the winning bidder must provide documentation to Alex Cooper from a pre-qualified expert or museum within the Rescission Period and return the property to Alex Cooper promptly in the same condition it was sold. Notwithstanding the foregoing, there shall be no right of rescission arising due to damage of property incurred in shipping. Difference of opinion regarding coin grading cannot be used as justification for rescission of sale. Third-party grading services unwilling to grade certain coins for whatever reason will have no effect on the sale and cannot be used as justification for rescission of sale. The Rescission Period is as follows: a period equal to the lesser of: (i) forty-eight (48) hours from the date the property purchased is received by the winning bidder, or (ii) two (2) weeks from the date of the auction. In no event will shipping charges be refunded.
6. MISCELLANEOUS.
A. Governing Law. These Terms and Conditions of Sale, as well as the respective rights and obligations of Alex Cooper, the seller, and any purchasers or bidder at any sale of Alex Cooper, shall be governed by and construed and enforced in accordance with the laws of the State of Maryland.
B. Limitation of Liability. In no event shall the liability of seller or Alex Cooper, its officers, employees and agents, to a winning bidder for any breach, act, omission, or claim of any nature, with respect to an item purchased, exceed the purchase price actually paid by the winning bidder for the item. In no event shall the seller or Alex Cooper, its officers, employees and agents, have any liability under any circumstances for special, indirect, incidental or consequential damages (including for loss of profits or revenue, costs of obtaining alternative property, claims of customers of winning bidders or otherwise), whether in contract, tort, negligence, strict liability, or otherwise, arising out of, resulting from or in any way relating to the property purchased, or its purchase, sale, delivery or non-delivery. In no event shall seller or Alex Cooper, its officers, employees and/or agents, be liable for any claims related to any errors, acts, omissions, websites, or technology of www.invaluable.com or www.auctionzip.com.
C. Jurisdiction. By bidding at an auction, whether present in person or by agent, absentee bid, telephone bid, online internet bid, or other means, the winning bidder shall be deemed to have consented to the exclusive jurisdiction for the resolution of any disputes of the state courts in Baltimore County, Maryland.
D. Legal fees. In any litigation between Alex Cooper and any bidders (whether or not the winning bidder) the prevailing party shall be awarded full reimbursement of its actual paid legal fees in connection with the dispute.
E. Severability. If any provision or portion thereof of the Terms and Conditions of Sale shall be void, unlawful or unenforceable under applicable law, that provision or portion thereof shall be deemed deleted and severed from the remaining provisions, and shall not affect the enforceability or validity of any of the remaining provisions.
F. No Assignment. Unless Alex Cooper consents in writing, a winning bidder may not assign its rights or any of its obligations relating to an auction or other sale by Alex Cooper. Any assignment without Alex Cooper's written consent will be void.
G. No Waiver. These Terms and Conditions of Sale may not be waived by Alex Cooper unless such waiver is in writing and signed by an authorized representative of Alex Cooper. A waiver on one occasion shall not be a waiver on any other or future occasion or affect Alex Cooper's right to insist on strict performance of all other provisions.
Buyer's Premium
A 28% buyer's premium will be added to the hammer price. A reduced buyer's premium of 26% will be added to the hammer price for payment made within five (5) business days by cash, debit card (in-person only), wire transfer, or checks pre-approved by Alex Cooper. A 5% surcharge will be added to purchases made through Invaluable.
Credit Card Limit
Credit card payments are limited to a total invoice amount of $10,000. Amounts over $10,000 must be completed with an ACH payment. International Buyers must complete the purchase via a bank wire. Debit and credit card payments may only be made in person with valid personal identification.
Contract
Alex Cooper acts as agent for the sellers of all property described in all catalogues. The contract for the sale of each item is a contract between the owner of the item and the winning bidder.
Condition
All property is sold "AS IS" without any representation or warranty of any kind by Alex Cooper or the seller. Coin grades reflect our considered and honest opinion. They are offered as a guide and should not be regarded as a warranty or guarantee. Difference of opinion regarding coin grading cannot be used as justification for rescission of sale. Third-party grading services unwilling to grade certain coins for whatever reason will have no effect on the sale and cannot be used as justification for rescission of sale. Each bidder must rely on his or her own judgment of grade. Buyers are responsible for satisfying themselves as to all aspects of property condition and descriptions, including without limitation genuineness, attribution, provenance, authenticity, authorship, completeness, condition, damage, repairs, restorations, estimates of value, and all matters referred to in catalogue entries, internet descriptions, condition reports, and elsewhere.
Payment
Winning bidders must pay for and pick up purchased items from Alex Cooper within five (5) business days following the auction. Alex Cooper accepts cash, debit card, certified checks, or all major credit cards as payment. Credit card payments are limited to a total invoice amount of $10,000 or less. Debit and credit card payments may only be made in person with valid personal identification. Wire transfers are encouraged and can be arranged through our accounting department. No personal checks will be accepted without prior approval. On any cash transactions or series of transactions exceeding $10,000, Treasury Form 8300 will be filed. All property must be paid within one (1) week following the close of the auction. Online bidders should contact Alex Cooper at 410-828-4838 to arrange payment.
Shipping
SHIPPING IS THE RESPONSIBILITY OF THE BUYER.
PLEASE NOTE THAT THE SIZE, SHAPE, WEIGHT, DEGREE OF FRAGILITY, ALL FACTOR INTO THE COSTS OF SHIPPING.
Sales Tax
Tax. All purchases will be subject to a 6% Maryland sales tax unless: (i) the property purchased is for resale and a valid Resale Tax number is presented to Alex Cooper's business office at the time of payment, and the sales price is $200 or more; or (ii) the property is being shipped to a buyer located outside the state of Maryland; or (iii) the total invoice amount of coins (excluding buyer's premium) exceeds $1,000. All applicable value added tax, sales tax, compensating use tax, or equivalent or other taxes shall be paid by the winning bidder.
