Terms and Conditions:
Conditions of Sale
FANNING ART ADVISORY AS AGENT
The lots listed in this catalogue will be offered by FANNING ART ADVISORY, Inc. as agent for consignor subject to the following terms and conditions. By bidding at auction you agree to be bound by these Conditions of Sale.
BEFORE THE SALE
Prospective buyers are strongly advised to personally examine any property in which they are interested before the sale takes place. Condition reports are usually available on request, on lots of $300 and above. All lots are sold “AS IS” and without recourse and neither Fanning Art Advisory, Inc. nor its consignor(s) makes any warranties or representations, express or implied with respect to such lots. Neither Fanning Art Advisory, Inc. nor its consignor(s) makes any express or implied warranty or representation of any kind or nature with respect to merchantability, fitness for purpose, correctness of the catalogue or other description of the physical condition, size, quality, rarity, importance, medium, material, genuineness, attribution, provenance, period, culture, source, origin, exhibitions, literature or historical significance of any lot sold. The absence of any reference to the condition of a lot does not imply that the lot is in perfect condition or completely free from wear and tear, imperfections or the effects of aging. No statement, whether written or oral, and whether made in the catalogue, or in supplements to the catalogue, an advertisement, a bill of sale, a salesroom posting or announcement, the remarks of an auctioneer, or otherwise, shall be deemed to create any warranty, representation or assumption of liability. Fanning Art Advisory, Inc. and its consignor(s) make no warranty or representation, express or implied, that the purchaser will acquire any copyright or reproduction rights to any lot sold. Fanning Art Advisory Inc. expressly reserves the right to reproduce any image of the lots sold in the catalogue.
AT THE SALE
Refusal of Admission Fanning Art Advisory, Inc. has the right, at our complete discretion, to refuse admission to the premises or participation in any auction and to reject any bid.
The auctioneer has the right at his or her absolute and sole discretion to refuse any bid, to advance the bidding in such a manner as he or she may decide, to withdraw any lot, and in the case of error or dispute, and whether during or after the sale, to determine the successful bidder, to continue the bidding, to cancel the sale or to reoffer and resell the item in dispute. If any dispute arises after the sale, our sale record is conclusive.
The highest bidder acknowledged by the auctioneer will be the purchaser. In the case of a tie bid, the winning bidder will determined by the auctioneer at his or her sole discretion. In the event of a dispute between bidders, the auctioneer has final discretion to determine the successful bidder or to reoffer the lot in dispute. If any dispute arises after the sale, the Fanning Art Advisory, Inc. sale record shall be conclusive. Title passes upon the fall of the auctioneer’s hammer to the highest acknowledged bidder subject to the Conditions of Sale set forth herein, and the bidder assumes full risk and responsibility.
AFTER THE SALE
In addition to the hammer price, the buyer agrees to pay Fanning Art Advisory, Inc. a buyer’s premium and the applicable sales tax added to the final total. The buyer’s premium for all purchases including via live online bidding is a flat three (3%) of the hammer price. The buyer’s premium for purchases made via online bidding is three (3%) of the hammer price.
The buyer must pay the entire amount due (including the hammer price, buyer’s premium, all applicable taxes and other charges) no later than 5 p.m. on the seventh (7) business day following the sale. Payment in U.S. dollars may be made with cash; bank check or cashier’s check drawn on a U.S. bank; money order; or wire transfer unless other arrangements are made with Fanning Art Advisory, Inc. Fanning Art Advisory, Inc. reserves the right to hold merchandise purchased by personal check until the check has cleared the bank. The purchaser agrees to pay Fanning Art Advisory, Inc. a handling charge of $50 for any check dishonored by the drawee.
Tax Exempt Notice
Lots marked with an asterisk (*) are tax exempt as permitted by law.
Once Fanning Art Advisory, Inc. has received all funds due to us, the buyer shall collect purchased lots within seven (7) business days from the date of the sale.
Packing and Shipping
If your bid is successful, we can provide you with a list of shippers. We will not be responsible for the acts or omissions of carriers or packers whether or not recommended by us. Property will not be released to the shipper without the buyer’s written consent and until payment has been made in full. Packing and handling of purchased lots by us is at the entire risk of the purchaser, and Fanning Art Advisory, Inc. will have no liability of any loss or damage to such items.
If we do not receive payment in full, in good cleared funds, within seven (7) business days following the sale, we are entitled in our absolute discretion to exercise one or more of the following measures, in addition to any additional actions available to us by law:
a.) to impose a late charge of one and a half percent (1.5%) per thirty (30) days of the total purchase price
b.) to hold the defaulting buyer liable for the total amount due and to begin legal proceedings for its recovery together with interest, legal fees and costs to the fullest extent permitted under applicable law
c.) to cancel the sale
d.) to resell the property publicly or privately with such terms as we find appropriate, to resell the property at public auction without reserve, and with the purchaser liable for any deficiency, cost, including handling charges, the expenses of both sales, our commission on both sales at our regular rate, all other charges due hereunder and incidental damages. In addition, a defaulting purchaser will be deemed to have granted us a security interest in, and we may retain as collateral security for such purchaser’s obligations to us, any property in our possession owned by such purchaser. At our option, payment will not be deemed to have been made in full until we have collected funds represented by checks, or in the case of bank or cashier’s checks, we have confirmed their authenticity.
e.) to offset against any amount owed
f.) to not allow any bids at any upcoming auction by or on behalf of the buyer
g.) to take other action as we find necessary or appropriate
Failure to Collect Purchases
If property is not picked up within seven (7) business days following the sale, whether or not payment has been made, Fanning Art Advisory, Inc. reserves the right to charge $5 per lot per day or to deliver said property to a public warehouse for storage at the purchaser’s expense. Fanning Art Advisory, Inc. shall have no liability for any damage to property left on its premises for more than seven (7) business days following the sale. In addition, we reserve the right to impose a late charge of one and a half percent (1.5%) per month of the total purchase price if payment is not made in accordance with the conditions set forth herein. For property that is not picked up after thirty (30) calendar days, an additional administration fee of $75 will be charged. Property which is paid for but left on our premises for any reason in excess of sixty (60) calendar days is subject to sale by us with the balance of any funds recovered in excess of storage charges and any other fees being remitted to you.
Fanning Art Advisory, Inc. is not responsible for the correctness of any statement of any kind concerning any lot, whether written or oral, nor for any other errors or omissions in description or for any faults or defects in any lot. Neither the seller, ourselves, our officers, employees or agents, give any representation, warranty or guarantee or assume any liability of any kind in respect of any lot with regard to merchantability, fitness for a particular purpose, description, size, quality, condition, attribution, completeness, authorship, authenticity, rarity, importance, medium, provenance, exhibition history, literature or historical relevance. Except as required by local law any warranty of any kind whatsoever is excluded by this paragraph. Items under $1,000 are collated upon request.
If for any reason a purchased lot cannot be delivered in the same condition as at the time of sale, or should any purchased lot be stolen, mis-delivered or lost prior to delivery, Fanning Art Advisory, Inc. shall not be liable for any amount in excess of that paid by the purchaser.
The rights and obligations of the parties with respect to these Conditions of Sale, the conduct of the auction and any matters connected with any of the foregoing shall be governed and interpreted by the laws of the jurisdiction in Illinois. If any part of these Conditions of Sale is found by any court to be invalid, illegal or unenforceable, that part shall be discounted and the rest of the conditions shall continue to be valid to the fullest extent permitted by law.
Any and all of the conditions may be waived or modified in the sole discretion of Fanning Art Advisory, Inc.