Conditions of Sale
Registering and bidding in a sale held by Bray & Company Auctions, LLC (“Bray & Co.”), whether in person, by phone, internet or absentee bid, constitutes a binding agreement whereby the bidder acknowledges and accepts the following Conditions of Sale.
1. AS IS.
All property is sold “AS IS” and without recourse. Neither Bray & Co. nor any consignor make any representations or warranties, express or implied, as to merchantability, fitness for purpose, value, condition, age, authorship, attribution, genuineness, completeness, materials, authenticity, provenance, dimensions or any other feature of the property being sold. Catalog descriptions, condition reports, bills of sale and any other written or oral assessments are statements of opinion and should not be construed as a warranty of representation or an assumption of liability. All sales are final with no refunds or returns.
2. INSPECTION.
It is the responsibility of the buyer or their assigned agent to examine the property prior to the sale. Your bidding will signify that you have done so as fully as you desire or that you have chosen not to. All items are available to be examined in-person. If requested in a timely manner, Bray & Co. will provide condition reports; these do not relieve the buyer from inspecting the property in person. Bray & Co. reserves the right to limit and sometimes decline condition reports on lots that we believe should be examined in person by the buyer.
3. SUCCESSFUL BID.
The highest bidder acknowledged by the auctioneer shall be the buyer. In the event of a disputed bid, the auctioneer has the sole right to determine which bidder is the successful buyer and may also, at his or her absolute discretion, choose to withdraw the lot or reoffer it for sale. The record of sale kept by Bray & Co. will be taken as final in the event of a dispute. Additionally, the auctioneer reserves the right to withdraw any lot at any time before its final sale and to reject any bid for any reason.
4. BUYER’S RESPONSIBILITY.
Title passes to the highest acknowledged bidder on the fall of the auctioneer’s hammer, whereupon the bidder immediately assumes full risk and responsibility for the property. Items purchased in person must be paid for in full and removed from the premises on the day of the sale. Buyers participating via telephone, internet or absentee bid are required to make payment within 5 days of the sale. All payments made after 30 days are subject to a monthly fee of 1.5% of the purchase price. No property will be released until the purchase price has been paid and the payment has cleared.
5. PAYMENT.
Bray & Co. accepts payment by cash, approved check, wire transfer and most credit cards. Buyers without an established bidding history who wish to pay by check must provide a letter of credit guaranteeing funds from their bank by Thursday prior to the day of auction. We reserve the right to not issue a buyer’s number or to withhold merchandise if appropriate credit has not been established. We require wire transfers for international buyers. There is a $25 wire transfer fee. Payments made using credit cards are assessed a surcharge of 3% of the purchase price. The buyer agrees to pay Bray & Co. a handling charge of $50 for any check dishonored by the drawee.
6. PICK-UP.
All property must be picked up within 7 days of the sale or the buyer will be assessed a storage fee of $10 per day, per item. Property not picked up within 60 days of the sale may be resold without reserve at Bray & Co.’s discretion, with any proceeds less commission and fees associated with the property remitted to the buyer.
7. SHIPPING.
Shipping and all associated costs are the responsibility of the buyer. A list of shippers and carriers is available upon request. At our discretion, items will be packed either in-house or by a third-party agent. Shipment will generally be made within two weeks after payment has been received. Insurance is required on items valued at over $200. Overseas duties and taxes are the responsibility of the buyer. Bray & Co. shall have no liability for any loss, damage or delay from the packing or shipping of property.
8. BUYER’S PREMIUM.
A buyer’s premium of 23% of the successful bid will be applied to the hammer price of each lot purchased directly through Bray & Co. with cash, check or wire; purchases made with credit/debit card are assessed an additional 3% processing fee. Bidders using third-party online bidding platforms, such as Invaluable or Live Auctioneers, will be charged a buyer’s premium of 28%; purchases made with credit/debit card are assessed an additional 3% processing fee.
9. RESERVES.
Some lots in this sale are subject to a reserve. The reserve is a confidential minimum price agreed upon by the consignor and Bray & Co. below which the lot will not be sold. The auctioneer will execute such reserve bids for the consignor. The reserve will not exceed the low estimate. On any lot, whether or not it is subject to a reserve, the auctioneer may refuse any bid or raise that is not commensurate with the value of the lot.
10. INTERNET BIDS.
Bids may be placed online through the live bidding platform on our website or the Bray & Co. App. Buyers may also bid online through third-party platforms, in which case they are also bound to the terms and conditions of those platforms. Bray & Co. does not accept liability for any errors or omissions in connection with online bidding. In the event of an outage, we reserve the right to postpone or reschedule the sale.
11. TELEPHONE BIDS.
Reservations for live telephone bidding are available on a first come, first served basis, and must be made by 5pm the day before the sale. By reserving a telephone, you agree to open the bidding on a lot at half of the low estimate. Bray & Co. does not accept liability for any errors and omissions in connection with telephone bidding.
12. ABSENTEE BIDS.
Absentee bids must be submitted by 9am the day of the sale. In the event of identical absentee bids, preference will be given to the bid first received. Bray & Co. does not accept liability for failure to execute an absentee bid or errors and omissions in connection with absentee bidding.
13. ENDANGERED SPECIES.
Some property may contain materials from plants or animal species subject to restrictions on import and export. It is the responsibility of the buyer to understand and comply with all laws regarding domestic and international shipment of such property.
14. COPYRIGHT.
Bray & Co. and its consignors make no warranty or representation, explicit or implied, that the buyer will acquire any copyright or reproduction rights to any lot sold. The copyright in all images, illustrations and written material produced by or for Bray & Co. relating to a lot including the contents of this catalog, is, and shall remain at all times, the property of Bray & Co. and shall not be used by the buyer, nor by anyone else, without prior written consent.
15. BREACH.
If a buyer breaches any of its obligations under these Conditions of Sale, including the obligation to pay in full the purchase price of items, Bray & Co. may exercise all rights and remedies under the law including cancelling the sale and reoffering the property without reserve.