| 1. |
All
property is sold "As Is" and neither MORRELL
& COMPANY nor seller make any
express or implied warranties or representations
of any kind or nature with respect to the
property, and in the event shall they be
responsible for the correctness of or be deemed
to have made any representation or warranty of
merchantability, description, genuineness,
attribution, provenance or condition concerning
the property. No statement in the catalogue or
made at the sale or in the bill of sale or the
invoice or elsewhere shall be deemed such a
warranty or representation or an assumption of
liability. Neither seller nor MORRELL
& COMPANY shall be liable for any
incidental or consequential damages arising from
the sale of any property. |
| 2. |
Notwithstanding
any other terms of these Conditions of Sale, if
within 21 days after the sale, MORRELL
& COMPANY has received from the
Buyer of any property notice of a claim in
writing alleging that any lot is short or that
any statement in the catalogue concerning such
lot is not well founded, then MORRELL
& COMPANY in its sole and absolute
discretion will decide any such claim as between
the Seller and the Buyer and may rescind the sale
and refund the purchase price received. |
| 3. |
As
used in these Conditions of Sale, the term
"the final bid" means the price at
which a lot is knocked down to the Buyer, and the
term "the purchase price" means the sum
of the final bid and the premium payable by the
Buyer under Condition 7. |
| 4. |
MORRELL
& COMPANY reserves the right to
withdraw any lot before or at the time of sale or
to combine two or more lots. |
| 5. |
Many
of the lots in this sale are offered subject to a
reserve, which is a confidential minimum price
below which the lot will not be sold. MORRELL
& COMPANY may implement the reserve
by bidding on behalf of the Seller. |
| 6. |
The
highest bid acknowledged by the auctioneer shall
be the Buyer. The auctioneer has the right to
reject any bid and to advance the bid at his/her
absolute discretion and, in the event of any
dispute between bidders, to determine the
successful bidder or to re-offer and re-sell the
property in dispute. Should there be any dispute
after the sale, MORRELL & COMPANY's
record of final sale shall be conclusive. On the
fall of the auctioneer's hammer, the Buyer
assumes full risk and responsibility for the lot
and may be required to sign a confirmation of
purchase, supply his/her name and address, and
pay the full purchase price thereof. If the Buyer
fails to comply with any such requirement, the
lot may, at the auctioneer's discretion, be
re-auctioned and sold again. |
| 7. |
The
purchase price payable by a Buyer shall
be the sum of the final bid and a premium
of 18% of the final bid. |
| 8. |
The
full purchase price of each lot shall be paid in
full at the time of the sale or in such manner as
the Buyer has arranged with MORRELL &
COMPANY prior to the auction. The sale
price shall be exclusive of any storage or
delivery charges. Title to the property will not
pass until payment has been made. |
| 9. |
Goods
will be released to the Buyer only on
presentation of an invoice marked
"Paid," signed by MORRELL &
COMPANY. No delivery will be made until
full payment of the purchase price of the
property has been made to MORRELL &
COMPANY. Not less than an entire lot can
be taken or delivered to one address and unless
otherwise agreed in writing all goods shall be
removed or instructions given for removal within
14 days after the sale. Free storage is available
upon request for 60 days following the sale and
full payment. |
| 10. |
Bids
which are submitted to MORRELL &
COMPANY in writing or otherwise, prior
to the sale, for execution at or below a
specified price, are entertained and executed by MORRELL
& COMPANY for the convenience of the
bidders, but MORRELL & COMPANY
shall not be responsible for failing to execute
such bids or for errors relating to the execution
of such bids. |
| 11. |
If
any applicable conditions herein are not complied
with by the Buyer, MORRELL & COMPANY
may, in addition to asserting all remedies
available by law, including the right to hold the
Buyer liable for the purchase price, either
cancel the sale, retaining as liquidated damages
any payment made by the Buyer, or re-sell the
property on seven days' notice to the Buyer. If MORRELL
& COMPANY re-sells the property, the
Buyer shall be liable for the payment of any
deficiency in the purchase price and all costs
and incidental damages including, but not limited
to, warehousing, the expenses of both sales,
reasonable attorney's fees and all other charges
due hereunder. |
| 12. |
Estimated
prices are provided solely for the guidance of
Buyers and are printed in the text. |
| 13. |
The
Buyer shall pay any applicable sales tax where
applicable. |
| 14. |
The
respective rights and obligations of the parties
in respect of the Conditions of Sale and the
conduct of the auction shall be governed by and
interpreted pursuant to the laws of the State of
New York. |
| 15. |
Invoices
remaining unpaid after ten days will be
automatically charged to the bidder’s credit
card given during registration. |
| 16. |
STORAGE:
Complimentary storage for wines purchased in the
auction will be available at Vintage Warehouse
for 60 days. Any lots remaining at Vintage
Warehouse beyond these 60 days will be moved to a
long-term storage facility. Under no circumstance
will Morrell & Company Fine Wine Auctions be
responsible for wine left in the warehouse past
12 months. |
