Page 474 - 4093-BOOK1

472
implement that reserve by bidding on behalf of the consignor.
No reserve will be allowed higher than the high estimate and in
many cases the reserve is lower than the low estimate. This bidding
will not generally constitute opening bidding. If the auctioneer
declares an opening bid and no advance to that bid is received the
auctioneer will pass the item. However, once bidding is opened the
auctioneer will bid on behalf of the consignor to reach the reserve
price. The auctioneer may reject nominal bids, which are small
opening bids or very nominal advances made with the purpose
of disparaging an item. If a lot fails to achieve a bid equal to or
exceeding 30 – 40% of the low estimate, the item may be passed
and not sold and may not be re-offered until a later sale. This
determination of whether to sell the item at the current auction
or re-offer it at a later auction is at the sole discretion of RIAC.
RIAC buys items on the open market or may offer a guarantee to
a consignor. In either event, RIAC can have an ownership or other
financial interest in the item(s) being auctioned. Such interest in
the item(s) being auctioned may not be disclosed. If RIAC has an
interest in an offered lot and the proceeds therefrom, other than
our commission, RIAC may bid on the offered lot to protect such
interest and such bidding shall not be prohibited under Section 15
below. Items which are not reserved are sold at RIAC’s discretion.
14. BIDS OF CONSIGNORS. Consignors, other than RIAC, are not
allowed to bid on their own lots nor have any agent bid on their
behalf. If RIAC recognizes such bidding or is advised of same,
RIAC reserves the right to withdraw any or all items consigned by
the offending consignor. It is not prohibited conduct under this
Section 14 when RIAC bids on behalf of the consignor to reach the
minimum 30-40% of the low estimate or reserve price as provided
In Section 13 above.
15. FINANCIAL INTEREST IN PROPERTY. Purchaser acknowledges
that RIAC has a financial interest in all items offered for sale since
it is paid a seller’s commission and buyer’s premium. Additionally,
Purchaser acknowledges that a conflict of interest may exist
because RIAC, its officers or employees, or an entity owned by one
or more of them, may have a financial interest in an item offered for
sale beyond the seller’s commission and Buyer’s Premium, which
may include an ownership interest or a guaranteed amount offered
by RIAC to a consignor of an item for sale.
16. ABSENTEE BIDDING. As a service to anyone wishing to place bids
in advance of the sale RIAC may accept bids on behalf of potential
Bidders at RIAC’s own discretion by telephone or absentee bid
using the forms RIAC provides. An Absentee Bid must be received
and credit approved in advance of the sale date. It is the Bidder’s
responsibility to establish credit before bidding, or RIAC will accept
a 15% deposit in the amount of the total bids submitted. (Deposits
will be returned within ten (10) days after sale if not successful.) An
Absentee Bid form is enclosed in the back of the catalog. Bids may
also be faxed to (309) 797-1655. Additionally, on-line bidding is
available on RIAC’s website. Bidder acknowledges that by bidding
absentee via mail, e-mail, telephone, through internet providers, or
any other absentee means (i.e., not in person bidding), no fiduciary
duty exist between the Bidder and RIAC. Bidder acknowledges that
RIAC has a fiduciary duty to the sellers and not to the Bidders or
Purchasers. In addition each Bidder and Purchaser acknowledges
that RIAC owes no duty to disclose the ownership of any item
being auctioned. Any absentee bid is executed as if the Bidder
was actually present and bidding themselves. RIAC will attempt
to execute bids in a manner such that the bids will prevail at the
lowest bid possible. RIAC assumes no responsibility for failure to
execute telephone, absentee, or website/online bids for any reason
whatsoever or for failure to execute bids such that the bids do not
prevail at the lowest bid possible.
17. TELEPHONE BIDDING. In order to bid on a lot over the telephone
at the time it is being sold the Bidder must contact RIAC in
advance to make arrangements. The Bidder must contact RIAC
by 2:00 p.m. the day preceding the sale to make arrangements to
bid via telephone. If the Bidder contacts RIAC after 2:00 p.m. the
day preceding the sale, RIAC cannot guarantee that the Bidder’s
bids will be executed; it is ultimately dependent on RIAC’s staff
availability to execute the bids.
BY PARTICIPATING IN TELEPHONE BIDDING, THE BIDDER AND
PURCHASER UNDERSTAND, ACKNOWLEDGE AND CONSENT TO THE
TELEPHONE CONVERSATION BEING RECORDED.
“Cover-Me Bids”: As a Telephone Bidder be aware that there is the
risk of RIAC not being able to reach the Telephone Bidder. Therefore
the Telephone Bidder may want to consider allowing his or her
phone representative to execute bidding on his or her behalf. At
the time of arranging for the phone bids, the Telephone Bidder
need simply give the maximum amounts he or she is willing to
bid on each lot in the event RIAC is unable to reach the Telephone
Bidder. This amount is only utilized if the Telephone Bidder is not
on the phone with his or her representative. If the Telephone Bidder
is reached via telephone, the phone representative will rely on
the Telephone Bidder’s verbal instructions only. “Cover-me bids”
are not mandatory; the Telephone Bidder can place them at his
or her discretion. “Cover me bids” are simply a safety net in case
the Telephone Bidder cannot be reached in time or not at all. All
terms provided under Section 16 above apply to any “Cover-Me
Bids”, including but not limited to all acknowledgements made by
Purchaser and any disclosure of the absence of any duties by RIAC.
18. FIREARMS LAWS. All post – 1898 firearms must be registered in
compliance with federal and Texas state law. Purchasers of post –
1898 firearms must complete state and federal registrations forms
at Rock Island Auction Company, 3600 E. Harwood Rd., Bedford,
TX 76021, unless otherwise specified. Dealers and out-of-state
Purchasers must have in their possession on the day of sale, signed
copies of their Federal Firearms License (FFL) in order to accept
same-day delivery of modern weapons.
19. NATIONAL FIREARMS ACT (NFA), TITLE II (CLASS III) ITEMS.
All firearms designated as NFA/Class III must be registered in
compliance with the NFRTR (National Firearms Registration
and Transfer Record) registry. A NFA/Class III item is a firearm
or firearm accessory that is regulated by the ATF in accordance
with the National Firearms Act of 1986. These items include full
auto machine guns, silencers, short barreled rifles, short barreled
shotguns, AOW’s and destructive devices. Purchaser’s should
consult with their federal, state, and local laws, law enforcement
personnel, or legal counsel to make sure they may legally own,
possess, or use the purchased NFA/Class III item and that all fees,
licenses and approvals are completed.
20. CONDITION OF FIREARMS. RIAC makes no warranties or
representations whatsoever and no affiliate, employee, contractor
or consultant of RIAC has the authority to do otherwise for the
condition of firearms, which includes, but is not limited to, any
warranties or representations concerning the operation of firing
condition, fitness for use, safety to store, or reliability of any
firearm, ammunition, or parts. Use of any firearm or ammunition
purchased at RIAC is entirely at the user’s risk. RIAC offers for sale
the lots as “collector” lots only. RIAC strongly recommends that
all weapons, ammunition, etc. purchased at auction be examined
by a competent gunsmith. RIAC expressly disclaims any liability
whatsoever for accident, injury or damage resulting to any person
from the storage or subsequent use of any such lot.
21. ENDANGERED OR PROTECTED SPECIES OR WILDLIFE. Any
property made of or incorporating endangered or protected species
or wildlife may have import and export restrictions established by
the Convention on International Trade in Endangered Species of
Wild Fauna and Flora (CITIES). These items are not available to ship
internationally and in some cases, domestically. Additionally, these
items may be subject to confiscation by state or federal officials if
the proper documentation authorizing their sale is not produced.
By placing a bid, the Bidder acknowledges that he is aware of the
restriction and takes responsibility in obtaining and paying for any
license or permits relevant to delivery of the item(s). RIAC does not
accept liability for the inability to ship the purchased items or if
such item(s) is (are) confiscated by state or federal officials prior to
their shipment or transport to the Purchaser.
22. DELIVERY, SHIPPING, AND STORAGE CHARGES. All delivery,
shipping and storage charges must be paid by the Purchaser prior
to delivery of the firearm.
23. SHIPPING. If RIAC is asked to ship the purchased lots, there will
be a separate charge for such shipping. Shipping charges to the
Purchaser for firearms will be based upon RIAC’s standard rates
depending on the type of firearm shipped. Shipping rates for all
non-firearm lots will be based upon the size and weight of the
item. RIAC’s standard rates do not apply to any items shipped to
the states of Alaska or Hawaii or to the Commonwealth of Puerto
Rico. All lots shipped shall be covered by shipping insurance unless
the Purchaser expressly waives such shipping insurance, in which
case such insurance shall not be provided for any of Purchaser’s
shipped lots. If any packing and handling of purchased lots is
done by RIAC, it is done entirely at the risk of the Purchaser. All
packages are sent with adult signature required. RIAC is not liable
for any acts of omissions in packaging or shipping. Purchased lots
handled by outside carriers or packers, including those RIAC may
have recommended, may carry their own insurance and any claims
for losses or damages should be addressed directly to the outside
carriers or packers. RIAC will arrange for packing and shipping at
RIAC’s earliest possible convenience. RIAC will attempt to ship as
soon as possible; however, due to RIAC’s high volume of business,
shipping can take up to two to three weeks after full payment
is received. In the case of crating or any exceptional packaging,
the Purchaser will be charged RIAC’s cost from outside agents.
Purchaser pays shipping, packing materials, and insurance charges.
Purchaser acknowledges and agrees that RIAC reserves the right
to purchase its own shipper’s insurance, to be self-insured if RIAC
determines such insurance is necessary in RIAC’s sole and absolute
discretion.
It shall be the responsibility for the Purchaser to arrange pickup
or shipping in a timely manner. All property will be subject to
storage, insurance, and moving charges including but not limited
to a $100 administration fee plus a $10 daily storage after thirty
(30) days if such property is not picked up by the Purchaser. The
cost of insurance of such property shall equal 1% of the total price
invoiced. In the event the property is not removed from RIAC’s
premises within ninety (90) days the property may be offered for
sale to recover any past due storage or moving fees, including a
20% seller’s commission.
RIAC reserves the right to ship ammunition lots to FFL’s only. All
state and local laws apply.
The shipping of any purchased items outside of the United States
is hereby classified as “foreign export”. All foreign export is the sole
responsibility of the Purchaser.
24. Miscellaneous
Agreements between Bidders and consignors to effectuate a non-
sale of an item at auction, inhibit bidding on a consigned item to
enter into a private sale agreement for set item, or to utilize RIAC’s
auction to obtain sales for non-selling consigned items subsequent
to an auction, are strictly prohibited. If a subsequent sale of a
previously consigned item occurs in violation of this provision,
RIAC reserves the right to charge the Bidder the applicable buyer’s
premium and consignor a seller’s commission as determined for
each auction venue and by the terms of the seller’s agreement.
Acceptance of these terms and conditions qualifies a Bidder as a
client who has consented to be contacted by RIAC in the future.
In conformity with the do not call regulations promulgated by the
federal or state regulatory agencies, participation by a Bidder is
affirmative consent to being contacted at the phone number shown
in his application and this consent shall remain in effect until it
is revoked in writing. RIAC may from time to time contact Bidder
concerning the sale, purchase, and auction opportunities available
through RIAC and its affiliates and subsidiaries.
RIAC owns the copyright and all images and illustrations in written
material produced by or for us relating to a lot (including the
contents of our catalogs unless otherwise noted in the catalog).
No Bidder or Purchaser can use them without RIAC’s prior written
permission.
You may not grant a security interest in or transfer your rights or
responsibilities under these terms and conditions of sale unless we
have given our written permission. These terms and conditions of
sale will be binding on your successors or estate and anyone who
takes over your rights and responsibilities.
No failure or delay to exercise any right or remedy provided under
these terms and conditions of sale shall constitute a waiver of that
or any other right or remedy, nor shall it prevent or restrict the
further exercise of that or any other right or remedy. No single or
partial exercise of such right or remedy shall prevent or restrict the
further exercise of that or any other right or remedy.
25. NOTICE AS TO AN AUCTION IN TEXAS. Notice is hereby given
the auctioneer’s license by the Texas Department of professional
licensing and regulations, and any concerns may be address the
department P.O.Box 12157, Austin, TX 78711, (512) 463 – 6599, or
http://www.tdlr.texas.gov/.
26. DISPUTES UNDER THIS CONTRACT; MEDIATION; ARBITRATION.
All claims, disputes, or controversies in connection with, relating to,
and/or arising out of a Bidder’s or Purchaser’s participation in this
auction or purchase of any lot, any interpretation of these terms
and conditions of sale or any amendments thereto, any description
of any lot or condition report, any damage to any lot, any alleged
verbal modification of any term of sale or condition report or
description, and/or any purported settlement whether asserted in
contract, tort, under any federal or state statute or regulation, or
any claim made by Purchaser of a lot or a Bidder’s or a Purchaser’s
participation in this auction, involving the auction, or a specific
lot involving an alleged warranty or representation of a consignor
or other person or entity including RIAC (collectively, “Claim”)
shall first be submitted to mediation. In the event that mediation
is unsuccessful (or the opposing party refuses to mediate for a
period of no less than ninety (90) days from the date such Claim
is presented to the opposing party to be mediated), such Claim
shall be exclusively heard by, and each of Bidder, Purchaser, and
RIAC each consent to the Claim being presented in a confidential
binding arbitration before a single arbitrator administrated by and
conducted under the rules of, the American Arbitration Association
that must be initiated and carried out in Tarrant County, Texas.
Each Bidder and Purchaser at this auction acknowledges and
agrees that any Claim must be brought within two (2) years of its
occurrence or the Claim is waived. After one (1) year has elapsed
from the occurrence of the Claim, each Bidder and Purchaser
acknowledges and agrees that RIAC’s maximum liability shall be
limited to any commissions and fees RIAC earned on the property
subject to the Claim.
Each Bidder or Purchaser in this auction agrees that the election of
restricting any and all claims to Arbitration is a voluntary decision
and is evidenced by the Bidder or Purchaser’s participation in the
auction.
Each Bidder or Purchaser specifically agrees to the following: I have
read these terms and conditions of sale and by my participation
in this sale I agree any Claim arising out of my participation in this
auction will be first submitted to mediation, and if mediation is not
successful in resolving the Claim, I then submit to neutral binding
Arbitration with RIAC and any other entity under this contract in
Tarrant County, Texas. With the exception for Purchaser’s failure to
make full payment of Purchaser’s obligations to RIAC as provided
in these terms and conditions, no lawsuit shall be filed until a
person has in good faith completed all mediation and arbitration
proceedings as required hereunder.
Prior to commencing any arbitration action, Purchaser or Bidder, as
applicable, and RIAC agree to mediate any Claim arising between
them.
Notwithstanding any other provision in these terms and conditions
to the contrary related to any Claim, neither mediation nor
arbitration shall be required to be pursued by RIAC if a Purchaser
fails to make full payment of Purchaser’s obligations to RIAC as
required under these terms and conditions. In the event the
Purchaser fails to make full payment of his or her obligations to
RIAC, RIAC may, but is not required to, proceed directly to a court of
competent jurisdiction located in Tarrant County, Texas.
Furthermore, each of Bidder or Purchaser, as applicable, and RIAC
agree for any such mediation, mediation fees, if any, will be borne
equally by the parties. Should a party commence legal action
without first submitting the claim to mediation and/or arbitration,
except as otherwise permitted under these terms and conditions of
sale, the party so commencing the legal action will not be entitled
to recover attorney’s fees even if they would otherwise be allowed
in the action.
27. LIMITATION OF LIABILITY. EXCEPT AS EXPRESSLY PROVIDED
ABOVE, ALL PROPERTY IS SOLD “AS IS”. NEITHER ROCK ISLAND
AUCTION COMPANY NOR THE CONSIGNOR MAKES ANY
REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS
TO THE TITLE, MERCHANTABILITY, FITNESS OR CONDITION OF
THE PROPERTY OR AS TO THE CORRECTNESS OF DESCRIPTION,
GENUINENESS, ATTRIBUTION, PROVENANCE OR PERIOD OF THE
PROPERTY OR AS TO WHETHER THE PURCHASER ACQUIRES ANY
COPYRIGHTS OR OTHER INTELLECTUAL PROPERTY RIGHTS IN LOTS
SOLD OR AS TO WHETHER A WORK OF ART IS SUBJECT TO THE
ARTIST’S MORAL RIGHTS OR OTHER RESIDUAL RIGHTS OF THE
ARTIST. ALL FIREARMS AND AMMUNITION ARE SOLD AS COLLECTOR
LOTS ONLY. FITNESS TO FIRE OR OTHERWISE DISCHARGE THE
ARM OR AMMUNITION IS EXPRESSLY DENIED BY ROCK ISLAND
AUCTION COMPANY. A COMPETENT GUNSMITH SHOULD BE
CONSULTED BEFORE ATTEMPTING TO USE OR FIRE ANY FIREARM
OR AMMUNITION. THE PURCHASER EXPRESSLY ACKNOWLEDGES
AND AGREES THAT IN NO EVENT SHALL ROCK ISLAND AUCTION
COMPANY BE LIABLE FOR ANY DAMAGES INCLUDING WITHOUT
LIMITATION ANY COMPENSATORY, INCIDENTAL OR CONSEQUENTIAL
DAMAGES.
Terms and Conditions