Walter Lantz Memorabilia & Collectibles

TERMS OF SALE
Los Angeles Estate Auction

These Terms of Sale ("Terms") govern all purchases made through Los Angeles Estate Auction, whether conducted in person, online, by telephone, absentee bid, or any other method. By participating in any auction, each bidder and buyer acknowledges and agrees to be bound by these Terms in their entirety. These Terms may be amended or supplemented at any time prior to or during a sale. References to "we," "our," or "the Auction House" throughout refer to Los Angeles Estate Auction. Unless otherwise stated, we act solely as agent for the consignor. All transactions are governed by the laws of the State of California, without regard to the buyer's location or method of participation.


KEY DEFINITIONS

Final Bid Price: The highest accepted bid at the time the auctioneer declares a lot sold.

Buyer's Premium: An additional percentage charged to the buyer on top of the final bid price.

Total Purchase Price: The sum of the final bid price, buyer's premium, applicable taxes, and any additional charges.

Reserve: A confidential minimum price established by the consignor, below which a lot will not be sold.

Bidder / Buyer: Any individual or entity that submits a bid or completes a purchase through the Auction House.

Consignor: The individual or entity that has consigned property to the Auction House for sale.

Lot: A single item or group of items offered as one unit at auction.

Property: The physical item(s) comprising a lot.


PARTICIPATION TERMS

Participation in any auction conducted by Los Angeles Estate Auction constitutes unconditional acceptance of these Terms. The Auction House reserves the right, at its sole discretion, to reject or revoke any individual's bidding privileges, cancel or withdraw any lot before or during a sale, and deny future participation to any party for any reason without obligation to provide explanation.


PRIOR TO BIDDING - AS-IS, WHERE-IS

All property is sold strictly AS-IS, WHERE-IS, with no warranties or representations of any kind, express or implied. Prospective buyers are strongly encouraged to conduct thorough due diligence prior to placing any bid, including personal inspection or review of all available photographs, descriptions, and condition reports. All inquiries regarding the condition, authenticity, or any other attribute of a lot must be made prior to placing a bid. No adjustments, refunds, exchanges, or cancellations will be considered after the hammer falls.

Descriptions provided by the Auction House ? including statements regarding age, condition, authenticity, origin, materials, provenance, or estimated value ? are offered as general guidance only and do not constitute representations or warranties. Any statements made by staff, consignors, or auction representatives are expressions of opinion and are not binding guarantees. All sales are final.


ONLINE BIDDING

Online bids are accepted through LiveAuctioneers.com and other authorized platforms. Registration is subject to approval, and the Auction House reserves the right to deny access without explanation. Bidders are encouraged to register at least 48 hours in advance to ensure timely approval.

The Auction House is not responsible for internet interruptions, software failures, platform outages, or any other technical issues that may prevent or delay the placement of a bid. All bids submitted online are legally binding and irrevocable. Input errors or connectivity issues do not constitute grounds for bid retraction or cancellation.


CONDUCT OF THE AUCTION

All auctions are conducted in accordance with applicable California commercial and penal codes. Any lot may carry a reserve price, which remains confidential unless otherwise disclosed. The Auction House reserves the right to withdraw any lot, reject any bid, and remove any individual from the auction process at its discretion.

In the event of a dispute regarding bidding or lot ownership, the auctioneer's decision is final and binding. Item information may be updated or corrected at any time prior to or during the sale; any such updates supersede previously published descriptions.


PAYMENT

All purchases must be paid in full within five (5) business days of the auction date. Total payment includes the final bid price, applicable buyer's premium, and any taxes or fees. The Auction House reserves the right to hold items until all funds have fully cleared. Failure to remit payment within the required period may result in cancellation of the sale, forfeiture of the lot(s), and revocation of bidding privileges. Online buyers will receive an invoice by email within 24 hours following the close of the auction.

Buyer's Premium: A 27% buyer's premium applies to all winning bids. Telephone bidders are assessed a reduced buyer's premium of 25%.

Credit Card Surcharge: A 3% processing fee applies to all credit card transactions.

Accepted Payment Methods: Payment must be made through the platform on which the item was purchased. Off-platform payments are accepted exclusively in the form of cash or bank wire transfer. Personal checks and foreign-currency instruments are not accepted.

International Buyers: Payment must be remitted by bank wire transfer in U.S. dollars. Foreign checks and non-USD instruments will not be accepted under any circumstances.


TAXES

California sales tax will be collected on all applicable transactions in accordance with state law, unless the buyer provides a valid resale certificate or the property is shipped outside the State of California by a licensed carrier.


COLLECTION & STORAGE

All purchased items must be collected within five (5) business days of confirmed payment. Items not collected within this period will be subject to a storage fee of $5.00 per item per day. Items remaining uncollected for more than thirty (30) days following payment will be deemed abandoned. The Auction House reserves the right to resell or dispose of abandoned items at its sole discretion, with proceeds retained as liquidated damages.


SHIPPING & DELIVERY

The Auction House utilizes a third-party shipping provider for delivery services. Upon receipt of full payment, the shipping company will contact the buyer directly to coordinate logistics. Buyers may arrange independent shipping; however, the Auction House accepts no liability for damage, loss, or delay once items have left our premises. A signed release form must be submitted prior to releasing any lot to a third-party carrier or representative.


DISCLAIMER ON AUTHENTICITY

The Auction House does not guarantee the authenticity of any item unless explicitly stated in the lot description. Descriptions referencing artist attribution, maker, period, provenance, or origin are provided as general guidance only and are not binding representations. Buyers assume full responsibility for verifying any such information prior to bidding and accept the risk that descriptions may be incomplete or inaccurate.


REGULATORY COMPLIANCE

Los Angeles Estate Auction complies with all applicable state and federal regulations, including laws governing the sale of items incorporating materials derived from protected species. It is the buyer's sole responsibility to ensure compliance with CITES, U.S. Fish & Wildlife regulations, and any other import or export laws applicable in their jurisdiction. The Auction House does not guarantee the issuance of any permits and will not delay or void any transaction due to a buyer's failure to obtain required authorizations.


GOVERNING AGREEMENT

Participation in any auction conducted by Los Angeles Estate Auction constitutes full and binding acceptance of these Terms of Sale. These Terms represent the complete agreement between the Auction House and the buyer and supersede any prior representations or understandings, whether oral or written. All sales are final. Buyers acknowledge and accept all risks inherent in purchasing secondhand, vintage, antique, or collectible property through the auction process.