This is a confidential figure set by the consignor and The Potomack Company below which the item will not be sold. Some lots may carry reserves or minimum selling prices. We assume no risk or responsibility for items that are left on our premises after the sale or that are transferred to a public warehouse. In the event that a dispute arises after the end of the sale, our sale record shall be conclusive.Īlthough we are happy to accept your internet bids, we will not be held responsible for any errors or failure to properly execute such bids.Īny items that are not picked up within the two week time period will be subject to a handling and storage fee of 5% of the purchase price. We have the sole right to re-offer any lot and/or settle disputed bids. The highest bidder acknowledged by the Auctioneer at the time his hammer drops will be the buyer of the lot. We reserve the right to reject any bid for any reason. Please keep in mind that later lots will continue to close on time even when an earlier lot is extended. This gives other bidders a chance to place a bid. If a bid is placed within the last 5 minutes of a lot's scheduled end time, we extend the sale by 5 minutes from the last bid. If the reserve price has not been met by the time the auction ends, the item will not be sold.Īnother unique feature in our timed auctions is extended bidding. Depending on bids placed, a "reserve not met" or "reserve met" message will display next to the bid box for any lots with reserves. A reserve is the minimum price that an auctioneer will sell their item for. Timed auctions allow auctioneers to set reserves for their items, as they aren't there to monitor the bidding live. Whoever has the highest bid when the time runs out wins the item. These auctions allow you to place bids until the scheduled end time for a particular item. Timed auctions are internet-only auctions that run for a set duration of time and are available for absentee bidding only. Although we do not include condition reports in this catalogue, our representatives are happy to assist you in determining the condition of items that you are interested in as they are able. We strongly encourage you to come and examine lots that you are interested in purchasing. In any event, any liability that The Potomack Company has for such a sale is limited to the purchase price of the item sold. a registered bidder) and does not extend to any subsequent purchasers. This guarantee is made only to the original buyer (i.e. If a buyer gives us notice within 14 days of the sale that an item that was purchased was a counterfeit and, within 7 days of such notice, provides a written report from an authority that demonstrates that the item was indeed counterfeit and that a fair reading of the catalogue description and the auctioneer's statements at the time of the sale did not indicate this, then The Potomack Company will rescind the sale and refund the purchase price to the buyer. A counterfeit for this purpose is defined as a modern fake or forgery that was made with the intent to deceive. Notwithstanding the preceding paragraph, The Potomack Company does offer a limited guarantee that items that are offered for sale are not counterfeit, unless otherwise noted in the catalogue or at the time of the sale. No statement in the catalogue, made at the sale, or otherwise, shall be construed to be a representation, warranty or admission of liability. Neither the Auctioneer nor The Potomack Company or its representatives is responsible for the accuracy of any printed or verbal communications and descriptions. Invaluable bidders, those who register and bid on, will pay Potomack's 25% premium plus a 5% Invaluable premium that will be added to the hammer at settlement (30% total).Īll items that are sold at our auctions are sold 'as is.' Neither The Potomack Company nor the consignor makes any representations or warranties of any kind concerning any items offered for sale. Potomack bidders, those who register and bid on our website at will pay Potomack a 25% buyer's premium, plus a 2% Invaluable premium that will be added to the hammer at settlement (27% total). The Potomack Company Terms and Conditions of Sale and Limited Guaranteeīy bidding on items at our auction, you agree to accept the following conditions:
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