Special Terms
1. TERMS & CONDITIONS OF SALE. The following conditions of sale make up the entire terms and conditions on which items listed in Collectors Auctions' (known hereafter as "CA") catalog, on the internet web site and addendum sheets will be offered for sale or sold by CA. All bidders who participate by bidding in this auction agree to the terms and conditions of sale and agree to be bound by same. Any notices, posted or oral, during the sale, are also part of our terms and conditions of sale agreement. Acceptance of a bidder card or a bidder number constitutes acceptance of the following terms and conditions of sale. The purchaser's rights and CA's respective rights and obligations hereunder are governed by Texas law. By bidding at CA's auction, whether in person or by agent, sealed bid, telephone bid, via the internet or other means, the purchaser or bidder agrees that the contract created by these terms and conditions of sale is made and performed in the County of Dallas, State of Texas and further agrees that should any dispute arise from this contract the sole and exclusive jurisdiction for contractual disputes is Dallas County, State of Texas. THE AUCTIONEER IS NOT RESPONSIBLE FOR ANY ERRORS OF THE PURCHASER INCLUDING BUT NOT LIMITED TO THE PURCHASER BIDDING ON THE WRONG LOT.
2. BUYER'S PREMIUM AND FEES. All bid prices "hammer prices" ("hammer prices" mean the price at which a lot is knocked down to the purchaser) will be subject to a buyer's premium of 18% payable by the purchaser. This is not an aggregate percentage on the total items bid, but rather a per item percentage rate.
3. SALES TAX.
CA is a Marketplace Facilitator (as defined in the applicable regulations for each state) for purposes of collecting and submitting sales tax for each applicable state. A Marketplace Facilitator is a business that contracts with sellers to facilitate the sale of tangible goods and administers all aspects of the transaction. A Marketplace Facilitator is required to collect sales tax from the buyer and remit such sales tax to the state to which the items are shipped. The sale tax is based on the ship to address. If the item is picked-up from the CA facility or shipped to a Texas address, Texas sales tax of 8.25% will be collected. Generally, all items included on the invoice are taxable.
To establish a tax-free sale, a copy of a valid reseller's permit or other instrument or information establishing a sales tax exemption, as required by the applicable state, must be provided to CA's satisfaction. Any purchaser claiming a sales tax exemption yet unable to provide satisfactory proof to CA at the time of payment will be required to pay the applicable tax to CA and thereafter seek a refund from the applicable state. Buyer agrees to pay CA the actual amount of tax due if the incorrect amount of sales tax was collected at the time of purchase for any reason.
Sales tax is required to be collected and remitted in all states except the following:
States with no sales tax: Alaska (certain cities, counties and boroughs require CA to collect sales tax), Delaware, Montana, New Hampshire, and Oregon.
State with no sales tax for Marketplace Facilitators:
Missouri (Prior to 1/1/2023).
Other:
West Virginia does not charge a sales tax on the purchase of firearms.
District of Columbia (DC)-CA does not meet the thresholds to require the collection of sales tax.
4. METHOD OF PAYMENT. Auction sales are strictly for cash, cashier's check, personal checks (with prior approval of CA's management), MasterCard, Visa, AMEX or Discover. NOTE TO FOREIGN BUYERS: Method of payment will be U.S. currency, certified check drawn on an American bank or wire transfer. Credit cards will not be accepted on orders that exceed $2500. NO EXCEPTIONS
5. TERMS OF PAYMENT. At the announcement of "SOLD", the highest bidder will have purchased the offered lot. All sales are final at the fall of the Auctioneer's hammer or at the announcement of "SOLD". The purchase is subject to all the terms and conditions set forth herein. The purchaser assumes full responsibility thereof and if requested will sign a confirmation of the purchase. The purchaser further agrees to pay the Total Amount Due. The Total Amount Due must be paid in full the day of sale if attending in person, otherwise upon receipt of the buyer's invoice. All property must be removed from CA's premises at the purchaser's expense no later than 5:00 p.m. five days following the date of sale unless otherwise agreed. If the property is not removed within five days following the date of sale, it will be stored at CA's facility at a cost of $50 per month. The purchaser will then be unable to pick up the purchased lots until the storage fees are paid to CA. If the purchased lots are not picked up and storage fees paid to CA, the items will be sold again at auction. ALL SALES ARE FINAL
Each purchaser at this auction grants CA a security interest in the property purchased. Any of the purchaser's property and all monies held or received by CA on the purchaser's behalf will be retained as collateral security for the purchaser's obligations to CA. CA may apply against such obligation's monies held or received by CA for the account of, or owing to, the purchaser. CA retains all rights of a secured party under the Texas Commercial Code. Whenever the purchaser pays only a part of the Total Amount Owed for one or more lots purchased, CA may apply such payments, at CA'S sole discretion, to the lot or lots CA chooses. Payment will not be deemed made in full until CA has collected the Total Amount Due in cash or good funds. CA has the sole discretion to determine what is considered good funds. In the event Purchaser pays by check and the check is returned due to insufficient funds, stopped payment, closed account, or for any other reason, and Purchaser already has possession of the property, such possession of the property will be deemed theft by deception and/or theft under 18 U.S.C. ยง 922(u), which may result In penalties of a fine of up to $250,000, imprisonment in federal prison for up to 10 years, or both. In addition to remedies available to CA and the consignor by law, if the purchaser does not comply with the terms and conditions of sale (this includes but is not limited to payment in full of the Total Amount Due), CA, at its option, may either: (1) cancel the sale and retain as liquidated damages all payments made by the purchaser; or (2) resell the property either publicly or privately, and in such an event the purchaser shall be liable for the payment of the deficiency, plus all costs and expenses of both sales and CA'S commission for both sales at CA'S standard rates, as well as any other damages, including but not limited to loss of profits. The purchaser is also responsible for all other charges due hereunder, in addition to any attorney's fees incurred by CA, incidental damages, and any other damages incurred by CA.
6. INTEREST AND DEFAULT. Payment of the Total Amount Due is due upon receipt of the buyer's invoice. If the amount noted within the buyer's invoice is not paid in full within 15 days of the auction, CA has the right and will charge the purchaser's credit card of record on file for the total invoice amount. Interest will be charged on all unpaid balances at the rate of 1-1/2% per month (18% APR), or the highest allowable rate under Texas law, whichever is lower, beginning 15 days after the date of purchase/auction. The purchaser acknowledges that should the purchaser not comply with any of the terms and conditions of sale, including payment of the full amount indicated on the buyer's invoice, the damages incurred by CA includes, without limitation, consignor commission, loss of use of money for an indefinite period, costs to relist the item and potential depreciation of the item, and loss arising on the resale of the lot, whether such damages are now known or may become known in the future. Accordingly, in the event the purchaser fails to pay the full amount indicated on the buyer's invoice within 45 days after the auction, purchaser shall be immediately liable for liquidated damages in an amount equal to 30% of the amount on the buyer's invoice. These liquidated damages are in addition to the total amount invoiced on the buyer's invoice and any applicable interest. CA shall hold any money deposited in partial payment on account of any liability of the defaulted item and will apply it at the sole discretion of CA to the outstanding debt.
7. WITHDRAWAL. CA reserves the right to withdraw any property from the auction prior to sale.
8. PROTESTS, DISPUTES AND THE AUCTIONEER. CA reserves the right to reject a bid from any bidder. The highest bidder, acknowledged by the Auctioneer, will be the purchaser. The Auctioneer shall have sole and final discretion as to the disposition of any dispute including the re-offer and resale of any article in dispute. CA'S records will be deemed conclusive in all respect in the event there is any dispute after the sale.
9. FAILURE TO DELIVER PURCHASER'S PROPERTY. If CA is prevented by fire, theft, or any other reason from delivering any property to the purchaser, CA'S liability shall be limited to the sum actually paid therefore by the purchaser and shall in no event include any incidental or consequential damages.
10. GUARANTEE. All property offered for sale is as is, where is. ALL SALES ARE FINAL. THERE WILL BE NO REFUNDS AND NO EXCHANGES. CA does not guarantee or make warranties on any lot sold. The bold headline of the description is the only written statement CA will guarantee as correct. Descriptions in the catalog are opinion. They are written as an aid to potential bidders. CA acknowledges that there may be errors in what is written beyond the bold headline description. CA recommends that you personally view any item you bid on or have an acknowledged expert view the item. Statements starting with the word condition are opinions, not statements of fact or guarantees. If a dispute about a lot arises it is the purchaser's responsibility to provide a written statement by an acknowledged qualified expert within 30 days after the auction that the bold headline is in fact incorrect. The 30 day return period IS NOT calculated from the date payment is made or the date the items are received. The 30 day return period will not be extended due to delay in payment or delay in receipt of the goods. If the expert's statement is indeed correct CA will make a full refund upon return of the merchandise, provided that the merchandise is returned in the same condition it was received. In the unlikely event that you need to return the merchandise to CA, Purchaser is responsible for all shipping costs. CA must again reiterate the guarantee is only on the bold headline of the description and CA will only honor this guarantee within 30 days of an auction. This right to return an item purchased at an auction shall be expressly limited to situations where errors occurred in the bold headline description of an auction item and such 30-day return provision shall not apply to a return of an auction item for any other reason. CA will have no further obligation, i.e., no refunds or returns will be accepted, if the above conditions are not met. Items offered for sale as described in the catalog or any bill of sale, advertisement, addendum sheet, or elsewhere as to authorship, period, culture, source, origin, measurement, quality, rarity, provenance, importance, exhibition, or physical condition are qualified statements of opinion and not representations or warranties. No employee of CA or any person purporting to act on behalf of CA is authorized to make on CA'S or the consignor's behalf, any representation or warranty, oral or written, with respect to any lot or item for sale. Grading of coins are open to interpretation. While CA does its best to accurately grade all coins in our sales, we DO NOT guarantee any specified grades.
11. BINDING EFFECT, MODIFICATIONS, AND SEVERABILITY. The terms and conditions of sale shall bind the successors and assigns of all bidders and purchasers and inure to the benefit of CA's successors and assigns. No waiver, amendment or modification of the terms hereof (other than posted notices or oral announcements during the sale) shall bind CA unless specifically stated in writing and signed by CA. If any part of these terms and conditions of sale is for any reason invalid or unenforceable, the invalid portion shall be stricken and the rest of the terms and conditions of sale shall remain valid and enforceable.
12. RESERVES. No Reserves.
13. BIDS OF CONSIGNORS. Consignors, other than CA, are not allowed to bid on their own merchandise nor have any agent bid on their behalf. If the Auctioneer recognizes such bidding or is advised of same, the Auctioneer reserves the right to withdraw any or all items consigned by the offending consignor.
14. FINANCIAL INTEREST IN PROPERTY. Purchaser acknowledges that CA 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 CA, 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 CA to a consignor of an item for sale.
15. ABSENTEE BIDDING. As a service to anyone wishing to place bids in advance of the sale
CA may accept bids on behalf of potential bidders at CA'S own discretion by telephone or sealed bid using the forms CA provides. A Sealed 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 CA 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.) A Sealed Bid form is enclosed in the back of the catalog. Purchaser acknowledges that CA has a fiduciary duty to the sellers and not to the bidders or purchasers. Purchaser acknowledges that CA 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. CA will attempt to execute bids in a manner such that the bids will prevail at the lowest bid possible. CA assumes no responsibility for failure to execute telephone, sealed, 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.
16. TELEPHONE BIDDING. In order to bid on a lot over the telephone at the time it is being sold the bidder must contact CA in advance to make arrangements. The bidder must contact CA by 2:00 p.m. the day preceding the sale to make arrangements to bid via telephone. If the bidder contacts CA after 2:00 p.m. the day preceding the sale, CA cannot guarantee that the bidder's bids will be executed. A representative of CA will contact the bidder on the day of the sale, prior to the requested lot(s) going up for sale.
17. 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. A 3-day waiting period is mandatory for modern handguns and modern long arms. 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. Purchasers who act as agents for FFL dealers must have a letter of agency as well as a signed copy of the dealer's FFL.
18. CLASS 3. All firearms designated as Class 3 must be registered in compliance with the NFA registry. Upon purchase, all interstate transfers are done from CA to a Class 3 dealer, one with a FFL/SOT License, in your area. There is not a transfer fee to the buyer at that time. When the transfer is approved, the firearm is shipped to the Class 3 dealer. The Class 3 dealer then prepares a Form 4 transfer to the buyer. The buyer pays a $200 tax stamp fee at that time. The only interstate transfers that can be done to an individual are those where the buyer has a Curio & Relics License and the firearm that is being purchased has been classified by the ATF as a NFA Curio & Relic. A $200 federal tax payment is required to file the transfer paperwork. This fee, as well as the Total Amount Due is due at the time of purchase in order to process the paperwork. The new owner of the Class 3 firearm will be required to complete 2 forms: 1) ATF Form 4 and 2) fingerprint card. These forms will be provided to you by CA. Note: if state or local law requires a permit or license to purchase, possess, or receive NFA firearms, a copy of the transferee's (buyer) permit or license must accompany the application. CA then mails the paperwork for the Federal Transfer Tax to BATFE. CA will receive back one of the Form 4's (they are sent in duplicate) with a Federal Tax Stamp attached to it. This is given to the new owner upon delivery of the NFA firearm. No further tax is due. Please check the status of your state before you bid or purchase to be sure of your eligibility to own and possess a Class III firearm as the laws continue to change. SPECIAL NOTE: If you are an SOT (Special Occupation Tax) payer (Class 3 dealer) you are able to transfer functional NFA firearms to or from other SOT payers and government agencies with BATFE approval, but without having to pay a transfer tax. CA makes no warranties or representations that the above-mentioned forms, fees, licenses and/or approvals will be sufficient for you to own or use your purchased firearm(s). Consult with your federal, state, and local laws, law enforcement personnel, or legal counsel to make sure you may legally own, possess, or use the purchased firearm(s) and that all fees, licenses and approvals are completed.
19. CONDITION OF FIREARMS. CA makes no warranties or representations whatsoever and no employee or consultant of CA has the authority to do otherwise, 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 CA is entirely at the user's risk. CA offers for sale the lots as "collector" lots only. CA strongly recommends that all weapons, ammunition, etc. purchased at auction be examined by a competent gunsmith. CA expressly disclaims any liability whatsoever for accident, injury or damage resulting to any person from the storage or subsequent use of any such lot.
20. 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). CA 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 successful bidder.
21. DELIVERY, SHIPPING, AND STORAGE CHARGES. All delivery, shipping and storage charges must be paid by the successful bidder prior to delivery of the firearm.
22. SHIPPING. If CA 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 CA'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. CA'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 CA, it is done entirely at the risk of the purchaser. All packages are sent with adult signature required. CA is not liable for any acts of omissions in packaging or shipping. CA reserves the right to take up to 2-3 weeks to fully complete an order. Purchased lots handled by outside carriers or packers, including those CA 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. CA will arrange for packing and shipping at CA'S earliest possible convenience. CA will attempt to ship as soon as possible; however, due to CA'S high volume of absentee bids, shipping can take up to two weeks after full payment is received. In the case of crating or any exceptional packaging, the purchaser will be charged CA'S cost from outside agents. Purchaser pays shipping, packing materials, and insurance charges. Purchaser acknowledges and agrees that CA reserves the right to purchase its own shipper's insurance, to be self-insured if CA determines such insurance is necessary in CA'S sole and absolute discretion. Local pickup is taken care of by an FFL in the area and is subject to a $10 transfer fee per firearm.
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.
23. DISPUTES UNDER THIS CONTRACT. Purchaser and CA agree to mediate any dispute or claim arising between them resulting from the purchaser participating in the auction or any resulting transaction, with the exception of the failure of the purchaser to make full payment of the purchaser's obligations to CA. In the event the purchaser fails to make full payment to CA, CA may, but is not required to, proceed directly to court. Furthermore, the purchaser and CA agree that should Mediation be necessary, Mediation fees, if any, will be borne equally by the parties. Purchaser and CA are required under the terms and conditions of sale to enter into Mediation before arbitration or any court action. Should a party commence legal action other than Mediation without giving written notice to the other party, 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. All mediation, arbitration and court proceedings, whether in state or federal court, shall be filed and conducted solely within Harris County, State of Texas and not in any other jurisdiction. ALL ITEMS ARE SOLD AS IS, WHERE IS. CA ONLY GAURENTEES THE AUTHENTICITY OF ITS ITEMS, ANY CONDITION AS FAR AS PERCENTAGE OF REMAINING FINISH ON A FIREARM OR GRADING OF COINS ARE NOT GAURANTEED.
Should Mediation not settle the dispute between the parties the purchaser and CA agree that any dispute or claim, in law or equity, resulting from the participation in the auction or any resulting transaction shall be settled in neutral binding arbitration utilizing the standards of American Arbitration Association and must be initiated and carried out in Harris County, State of Texas. Any bidder or purchaser 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. The purchaser specifically agrees to the following: I have read the terms and conditions of sale and by my participation in this sale I agree all disputes arising out of my participation will be first submitted to Mediation, and if Mediation is not successful in resolving the dispute I then submit to neutral binding Arbitration with CA and any other entity under this contract. No lawsuit shall be filed until a person has in good faith completed all Mediation and Arbitration proceedings as required hereunder.
24. LIMITATION OF LIABILITY. EXCEPT AS EXPRESSLY PROVIDED ABOVE, ALL PROPERTY IS SOLD "AS IS". NEITHER COLLECTORS AUCTIONS LLC 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 COLLECTORS AUCTIONS LLC. 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 COLLECTORS AUCTIONS LLC BE LIABLE FOR ANY DAMAGES INCLUDING WITHOUT LIMITATION ANY COMPENSATORY, INCIDENTAL OR CONSEQUENTIAL DAMAGES.
