Bidder Terms and Conditions (Revision 03/2015) We advise all bidders to read the Terms and Conditions of the Sale before bidding with Dan Morphy Auctions LLC and/or its affiliates Morphy Firearms LLC, and Morphy Auctions, Las Vegas collectively referred to below as DMA. Those who bid are bound by those Terms and Conditions of the Sale, as amended by any oral announcement or posted notices, which together form the contract of the sale between the successful bidder (purchaser), DMA and the seller (consignor) of the lot. TERMS OF SALE When bidding on any lot offered by DMA, the bidder indicates acceptance of the following Terms of Sale. Any participation in the auction binds you to agreement of these terms whether or not you read or understand said terms. CONDITION OF ITEMS DMA makes every effort to accurately describe all items offered in its sales, however all items for sale are “as is,” and it is the bidder’s responsibility (present or absentee bidders) to determine the exact condition of each item. DMA will not be held responsible for typographical errors. Neither we nor the consignor, make any guarantees, warranties, or representation expressed, or implied, in regard to the property or the correctness of the catalog or other description of the authenticity of authorship, physical condition, size, quality, rarity, importance, provenance, exhibition, literature or historic relevance of the property or otherwise. No statement anywhere whether oral or written, shall be deemed such a guarantee, warranty or representation. Prospective bidders should inspect the property before bidding to determine its condition, size and whether or not it has been restored. The consigner and we make no representation or warranty as to whether the purchaser acquires any reproduction rights in the property. Returns will not be accepted under any circumstances. All items will be available for preview one (1) month prior to the auction. All items are sold for display purpose. If electrical, mechanical, or other working parts are inoperable, even if working at the time of sale, we are not liable due to the inherent nature of the age of these antiques and items. AUTOMOBILES – These terms do NOT apply to our automobile auctions. To view the terms and conditions for our Automobile Auctions, please go to: www.morphyauctions.com/autoterms FIREARMS – All firearms transfers will be in strict accordance with all International, Federal, State and local laws. Be sure to check your country, state and local laws before bidding. If you are unable to import, purchase or own a firearm according to your residency laws, do not bid on these items. • Modern Firearms (post 1898) will be noted with a double asterisk (**) at the beginning of the title. These firearms require special processing. • Checkout and pickup at our location: o The same person to whom the bidder number is registered must be the person to pick up the firearm(s) at the conclusion of the sale – Federal Law disallows anyone else from accepting the transfer. o Modern firearms sales to non-licensed bidders who are picking up guns at our location will require the completion of a form 4473 background check. Handgun purchases also require an additional PICS background check for each handgun purchased. This process to fill out forms and obtain a response may take 5-10 minutes. o If you are “Denied” by FBI / NICS background check, you will not be able to take possession of the firearm and the firearm will be consigned to the next available firearm auction. Bidder will be blocked from participating in future firearm auctions. o Exceptions may take up to 5 days, at which point we will contact the buyer with the “approve” or “deny” response. Upon approval, arrangements can be made to pay and pickup or ship the items. o Licensed bidders, i.e. Federal Firearms Licensees or Curios & Relics License holders must present a current signed copy of their license. (C&R licensee purchases must conform to the BATF C&R requirements). • Shipping o Non-Residents of Pennsylvania may not pickup modern firearms. They are legally required to be shipped to an ATF licensed FFL dealer within your state of residence for transfer and pickup. You will be responsible for all shipping and transfer costs incurred. o Modern Handguns are legally required to be shipped via Priority Overnight. o Modern Long Guns are shipped via ground to the dealer. o Upon paying for the gun you can contact a licensed dealer to send their FFL to firearms@morphyauctions.com with the paid invoice number notated. • Long guns will only be sold to persons 18 years of age, or older. Handguns will only be sold to those persons 21 years of age, or older. Dealers are bound by these minimum age requirements. • Since all firearms sold are “collectible” items, DMA does not test the safety or warrant functionality of these firearms. All firearm purchases should be examined by a certified gunsmith prior to shooting. • DMA reserves the right to deny the sale of a firearm to any buyer. GAMING DEVICES - These items may be held for up to 5 business days so the state agencies can verify the purchaser’s information. All auction participants are urged to check the legality of possession and/or shipment of gaming devices to their state of residence. Any gaming device purchased at the auction shall be used for the purpose of display or social entertainment within the private home or residence of the buyer and such devices shall not, in any event or manner, be exposed to the public for the purpose of gambling. Grading Scale: Near Mint Plus 97% - 100% Near Mint 90% - 96% Excellent 80% - 89% Very Good 70% - 79% Good Below 70% BIDDING RIGHTS & RESPONSIBILITIES The auctioneer will determine the highest bidder. The auctioneer alone has the right to reopen the bidding of an item if deemed necessary due to a dispute. If there is a tie bid between the floor and Internet or absentee bid, the floor bid takes precedence. DMA and its representatives reserve the right to remove those attendees who impede preview and/or the auction. Title to all merchandise shall pass to the highest bidder at the fall of the auctioneer’s hammer. The buyer will then assume all risk and full responsibility of the lot purchased once ownership has changed. • ABSENTEE BIDDING - DMA will accept absentee bids if pre-authorized by mail, fax or through www.morphyauctions.com online. Absentee bidders must use the absentee bid form and clearly mark the lot number, title and maximum bid amount. Absentee bidding forms may be accessed online at www.morphyauctions.com. If there are two (2) identical bids placed on the same item, priority will be given to the first bid received. All bids must be left in increments as explained on our bid form. If a bid is “out of increment,” the auctioneer has the right to round the bid up to the next correct increment. Bidders may preview, register and place bids online through our website, www.morphyauctions.com. Absentee and online bids placed through www.morphyauctions.com will be auto charged to the credit card entered 48 hours after the end of the sale. If you wish to pay by another method please contact us within 48 hours after the sale. Seller(s) agree to allow the Auctioneer to accept and execute absentee bids in a competitive manner for potential buyers and under the Morphy Auctions absentee bidding terms and conditions. During the live sale, the auctioneer will execute your absentee bid competitively up to the maximum amount you have indicated. • ONLINE BIDDING - Online bidding through www.morphyauctions.com, Live Auctioneers, and Proxibid may be available; all Terms and Conditions still apply. If there is a tie bid between the internet bidding venues and the floor, the floor bid takes precedence. If a credit card has been provided to one of the online bidding platforms, DMA reserves the right to use and charge the credit card if the winning bidder has not paid via another method by the 7 day term in Payment Terms below. • TELEPHONE BIDDING - Requests for phone lines must be received at least three (3) days prior to the auction date. DMA cannot guarantee phone lines but will make every attempt to accommodate those who wish to participate through that method. Phone lines are provided on a first come first served basis. Please visit www.morphyauctions.com or call 717-335-3435 to request a call from our representatives during the live auction. BID INCREMENTS Bid increments listed are a general guideline. Actual increments are at the auctioneer’s discretion. If a lot does not receive a bid of 25% of the low estimate, the lot will be passed by the auctioneer. $0 - $500…$25 $500 - $1,000…$50 $1,000 - $2,000…$100 $2,000 - $5,000…$250 $5,000 - $10,000…$500 $10,000 +… Auctioneer’s discretion RESERVES The majority of our items are unreserved, but occasionally items may carry a moderate reserve. Please note that when a lot carries a reserve, the reserve is usually somewhere below our low estimate. In the case of a reserved item, the seller has authorized the auctioneer to bid on their behalf until the reserve price is reached. BUYER’S PREMIUM A 20% buyer’s premium will be added to all successful bids and is payable by the purchaser as part of the total purchase cost. If payment by cash, check, money order or wire transfer is made within 7 days of the sale a 2% discount may be taken by the buyer. DISCOUNT IS ONLY AVAILABLE IF INVOICE IS PAID WITHIN 7 DAYS from the sale date. Split payments are subject to a 20% buyer’s premium if a credit card is used as any form of total payment. SALES TAX Lots delivered to you, or your representative are subject to all applicable state and local taxes, unless appropriate permits are on file with DMA. Bidder agrees to pay DMA the actual amount of tax due in the event that sales tax is not properly collected due to: 1) an expired, inaccurate, or inappropriate tax certificate or declaration, 2) an incorrect interpretation of the applicable statute, 3) or any other reason. The appropriate form or certificate must be on file at and verified by DMA five days prior to Auction, or tax must be paid; only if such form or certificate is received by DMA within 4 days after the Auction can a refund of tax paid be made. Lots from different auctions may not be aggregated for sales tax purposes. PAYMENT All merchandise must be paid in full within seven (7) days of the date of the sale. If payment by cash, check, money order or wire transfer is made within 7 days of the sale, a 2% discount may be taken by the buyer. DISCOUNT IS ONLY AVAILABLE IF INVOICE IS PAID WITHIN 7 DAYS from the sale date. Split payments are subject to a 20% buyer’s premium if a credit card is used as any form of total payment. Purchases totaling $100,000 or more must be paid within three (3) days of the date of the sale. Call 717-335-3435 to pay your invoice by phone or mail payment to: Dan Morphy Auctions LLC - 2000 N Reading Rd., Denver, PA 17517 Absentee bids placed through www.morphyauctions.com and Proxibid.com will be auto charged to the credit card entered 48 hours after the end of the sale. If you wish to pay by another method please contact us within 48 hours after the sale. We accept Visa, MasterCard, Discover, American Express, personal checks/ certified checks, wire transfers, money orders, and cash. • CREDIT CARD - For first time buyers and credit card charges greater than $2,500.00 buyers must complete the bottom portion of the invoice and must specifically sign the acknowledgement of our terms of sale before we will accept payment via credit card. We do offer the convenience of paying automatically by credit card. If you wish have your card automatically charged for all purchases please complete our “Authorization for Automatic Credit Card Use.” We have this form available online or upon request. Split payments are subject to a 20% buyer’s premium if a credit card is used as any form of total payment. • CHECK - There will be a $30.00 service charge for returned checks. Make checks payable to: Dan Morphy Auctions LLC. DMA reserves the right to hold items paid for by personal or company check until said check clears (14 days). DMA has the right to hold all checks over $2,000.00. Customers who have an established successful buying history with DMA may be exempt from this. We will accept a personal or company check >$2,000 and/or from a first time buyer if you provide a Bank Letter of Credit, available on our website, www.morphyauctions.com. • WIRE TRANSFERS – There will be a $30.00 charge added to all wire transfers less than $2,000.00. Please add this amount to your invoice total before sending a wire transfer. In the few situations where a successful bidder does not remit payment when due, DMA will proceed with the legal steps necessary to protect its interests and will block the bidder from future auction participation. PACKING/SHIPPING • It is the bidder’s responsibility to take shipping and handlings & insurance costs into consideration when bidding on items. • BIDDERS PRESENT AND TAKING ITEMS AFTER AUCTION – Since item liability transfers upon a successful bid, items paid for must be packed, transported and/or removed by the purchaser at his/her own risk after the close of the sale. If any employee or agent of DMA shall pack or transport the merchandise, it is fully at the risk and responsibility and expense of the purchaser. DMA shall not be held liable for any loss or damage that may be caused by the said agent or employee. • ITEMS NOT PICKED UP THE DAY OF THE SALE – Packaging, shipping, and insurance on items will be made available as an added courtesy and cost. Again, if any employee or agent of DMA shall pack or transport the merchandise, it is fully at the risk and responsibility and expense of the purchaser. DMA shall not be held liable for any loss or damage that may be caused by the said agent or employee. All applicable charges will be applied. Shipping will be based on actual costs via FedEx, FedEx Freight, or USPS (best way). Handling and insurance will vary in cost depending on each invoice. All packages will be shipped with insurance. Items will ship seven to fourteen (7-14) business days after payment is received. • INTERNATIONAL SHIPMENTS – DMA has the capability to ship to international bidders. By law, DMA cannot, and will not, declare lesser values for any international purchases and all shipments will include the invoice with purchase totals including the buyer’s premium and shipping cost. All international bidders are responsible for knowing their country’s laws on importing items and for paying all customs and duties on the items. • 3RD PARTY SHIPPING – For any buyers who wish to arrange, or must arrange due to the size of the item, for their own shipping, DMA must be notified at least seven (7) days prior of shipping company name and arrival date and time. Pickup must be scheduled to begin and end within our normal business hours (9am – 4pm, seven days a week). Buyers must arrange weekend pickups in advance with DMA staff, and additional charges may be necessary for overtime. 3rd party shipper must arrive with a copy of the invoice. • STORAGE FEE – DMA will charge a storage fee of $50/week for any items awaiting pickup for more than 30 days. • MORPHY AUCTIONS, LAS VEGAS LOCATION SPECIAL COURTESY – Items purchased at our Las Vegas location may qualify for free shipment on our freight truck to Denver, PA. To be considered for shipping, all item invoices must be paid in full by day 7 after the auction, or they will not be shipped on the truck and shipping charges will then apply. Items will leave Las Vegas approximately 14 days after the auction date. Upon arrival in Denver, PA the buyer must pick items up within 14 days, or a $50/week storage fee will apply. Buyers will be contacted by phone or email when items arrive in Denver, PA. It is the buyer’s responsibility to pick the items up here. For packages to qualify for courtesy shipping, at least one piece or all pieces together in a package, must have a dimensional size of more than 130sq inches. Dimensional size is length (the longest measurement) + (height x 2) + (width x 2). For example, a 36” x 36” x 12” package = 36 + (36 x2) + (12 x 2) = 132. POSTSALE RETURN POLICY DMA hires knowledgeable experts to provide catalog descriptions on the merchandise we sell. Every effort is made to ensure those descriptions are accurate and that they fully disclose any exceptions to condition. Any buyer who has made their payment within the due date of 7 days who wishes to report a problem must notify DMA within three (3) days of receipt of their purchased item. Buyers who have not made their payment within the due date of 7 days may not return any items under any circumstances after 35 days of the auction. No lots purchased by floor bidders (including those bidders acting as agents for others) may be returned. A Return Authorization Number (RA#) must be issued by DMA before you ship anything back to our address. Any items arriving without a return authorization will not be given a refund. The item in question must be shipped with the RA# on the outside and inside of the package, with full insurance, so it arrives at DMA within one week of the aforementioned authorization. All rights reserved. Entire contents copyright 2015, Dan Morphy Auctions LLC. Copyright includes, but is not limited to, print media, microform and electronic media, such as CD-ROMS and online computer services. JEWELRY LIMITING CONDITIONS, TERMS & DEFINITIONS All jewelry is graded and sold as is. All diamond and gemstone measurements and grades are Estimates. Diamond grading and gem identification are undertaken in the mountings, unless otherwise noted. When grading mounted diamonds, all weights, measurements, color and clarity grades are estimated using GIA standards and formulas for mounted diamonds. The jewelry has not been cleaned for grading, therefore, some markings may be obscured and some diamond and gemstone grades may be affected. Diamond grades are evaluated using Gemological Institute of America (GIA) standards and methods. The qualities of Cut, Color and Clarity are described using GIA terms. Use of the term ?Stone? designates an item, whether loose or in jewelry, that could be glass, plastic, synthetic or natural. It is used here as a broad term to describe a decorative element and does not mean that it is verified as any gemstone. Jewelry containing multiple diamonds or gemstones have been randomly tested. Diamonds and Gemstones that are stated have been identified as such. The initials ?CMD? indicates cannot measure depth. Unless otherwise stated, all colored gems listed have probably been subjected to a stable and possibly undetectable color enhancement process. The prices of subject items are estimates of their current Orderly Liquidation Value in their present condition and within the existing auction market. ?dwt? is the pennyweight of the metal. The pennyweight (dwt) of a jewelry piece is the Total Weight of the metal Including any diamonds, gemstones, movements in watches or extra decorative detail on the piece. The condition is described as the overall condition of the item., excluding any defects that are specifically noted Since this jewelry is previously owned, Excellent condition is assumed to show normal small scratches, dents, chips and abrasion as a result of being worn. If an item is new or showing more serious damage, this will be noted individually. If an item is stamped with a karat identification of metal, whether gold, silver or platinum, it is assumed to be correct and has not been tested. Mountings are assumed to be mass produced unless specifically stated. Ring sizes are stated to the leading edge of the mandrel. The condition is described as the Overall Condition excluding any defects that are specifically noted. The pictures of multiple items is not coordinated with the description of these items. ABBREVIATIONS USED: YG ? Yellow gold, karat is noted WG ?White gold, karat is noted CTTW ? Carat Total Weight. This term is used within descriptions as the carat total weight of different styles of stones. It is also used at the end to indicate the total diamond or gemstone weight of the piece of jewelry in its entirety. CT ea ? Used within descriptions of multiple diamonds or gems to estimate the individual size. SC ? Single Cut diamond, mostly small used as accents FC ? Full Cut diamond, can be used as small accents VIII. APPRAISER?S CERTIFICATION I certify that, to the best of my knowledge and belief: - The statements of facts contained in this report are true and correct. - The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, unbiased professional analyses, opinions, and conclusions. - I have no present or prospective interest in the property that is the subject of this report and I have no personal interest or bias with respect to the parties involved. - My compensation is not contingent upon the reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value estimate, the attainment of a stipulated result, or the occurrence of a subsequent event. - I have made a personal inspection of the property that is the subject of this report. Jill Morrow, GG (GIA) AM-ISA Accredited Member- International Society of Appraisers Member- National Association of Jewelry Appraisers J