Terms and Conditions

Marquise Invitational Auction 2017 ‐ Terms and Conditions

CONDITIONS OF SALE

ANYONE EITHER REGISTERING TO BID OR PLACING A BID ("BIDDER”) ACCEPTS THESE CONDITIONS OF SALE AND ENTERS INTO A LEGALLY BINDING, ENFORCEABLE AGREEMENT WITH Marquise Auction Group, LLC ("Marquise Auction Group"), TOGETHER WITH BIDDER, THE ("PARTIES”).

The following terms and conditions ("Conditions of Sale”) constitute the sole terms and conditions under which Marquise Auction Group will offer for sale and sell the property described in the catalog of items for auction (the "Catalog”). These Conditions of Sale constitute a binding agreement between the Parties with respect to the auction in which Bidder participates (the "Auction”). By bidding at the Auction, whether in person, through an agent or representative, by telephone, facsimile, online, absentee bid, or by any other form of bid or by any other means, Bidder acknowledges the thorough reading and understanding of these Conditions of Sale, all descriptions of items in the Catalog, and all matters incorporated herein by reference, and agrees to be fully bound thereby. This acknowledgement is a material term of these Conditions of Sale and of the consideration under which Marquise Auction Group agrees to these terms.

The Auction is conducted under these Conditions of Sale. Announcements, additions and corrections from the podium at the live auction and those made through the Conditions of Sale appearing on the Internet at www.MarquiseAuctions.com supersede those in the printed Catalog.

PLEASE NOTE: All bidders at Marquise Auction Group Auctions acknowledge that they have read these terms and conditions of sale and agree to be bound thereby. If you do not understand any of these terms or conditions, please ask a staff member for clarification before registering.

IDENTIFICATION (bidders number) – BIDDER REGISTRATION

All purchasers are required to have a Bidder’s Number to bid and shall supply Marquise Auction Group with their full name, address and telephone number. A form of picture identification is required to verify. If an entity places a bid, then the person executing the bid on behalf of the entity agrees to personally guarantee payment for any successful bid.

BIDDERS AGENT (Representative)

If Bidder is an agent or representative designated to bid for an Absentee Buyer, the agent must be disclosed to Marquise Auction Group in writing and signed by the Buyer prior to the time of sale. ABSENTEE BIDDER’S LETTER OF DESIGNATED REPRESENTATIVE AUTHORITY FORM available on request.

BUYER’S AGENT (Sale Commission)

In order for a sale commission to be paid to a Buyer’s Agent, the agent must be disclosed to Marquise Auction Group in writing and signed by the Buyer prior to the time of sale. There will be NO MORE THAN ONE sale commission paid per lot. BUYER’S AGENT SALE COMMISSION FORM available on request.

BIDDING

Each Bidder's determination of its bid should be based upon its own examination of the item(s), rather than the strict reliance as to what is represented in the Catalog, online or elsewhere.

MARQUISE AUCTION GROUP IS NOT RESPONSIBLE FOR ERRORS IN BIDDING. A Bidder should make certain to bid on the correct lot and that the bid is the maximum that the Bidder is willing and able to pay. Since other Bidders (by mail, facsimile,telephone, and in person) will be present, and since a re‐offering could damage the momentum of the sale, once the hammer has fallen and Marquise Auction Group has announced the winning Bidder, such Bidder is unconditionally bound to pay for the lot, even if the Bidder has made a mistake.

ADDITIONAL BIDDING OPTIONS

Bidding by telephone, facsimile, online, or absentee bidding (advance written bids submitted by mail) are offered solely as a convenience and permitted subject to advance arrangements, availability, and Marquise Auction Group's approval which shall be exercised at Marquise Auction Group's sole discretion. Neither Marquise Auction Group nor its agents or employees shall be held liable for the failure to execute bids or for errors relating to any transmission or execution thereof. In order to be considered for off‐site bidding in any manner, Bidders must comply with all of these Conditions of Sale and the terms contained on the Registration Form.

Telephone bids

Bidders wishing to bid by telephone MUST complete a Telephone Bidder Request form prior to the Auction and MUST RECEIVE a confirmation stating that a Marquise Representative will contact the Telephone Bidder at the time specified on the confirmation at the phone number provided by the telephone bidder and specified on the Confirmation. A Marquise representative will make every attempt to contact the Telephone Bidder at the time and phone number specified on the Confirmation. This however, does not constitute a guarantee that contact will be made.

Facsimile, Written bids

Facsimile and written bids submitted by mail are treated similarly to floor bids in that they must be on increment. Any Facsimile and written bids that do not conform to a full increment will be rounded up or down to the nearest full increment and this revised amount will be considered Bidder’s high bid.

When identical mail or facsimile bids are submitted, preference is given to the first received. To ensure the greatest accuracy, written bids should be entered on the standard printed bid sheet and be received at Marquise Auction Group's place of business at least twenty‐four (24) hours before the Auction start. Marquise Auction Group is not responsible for executing mail bids or facsimile bids received on or after the day the first lot is sold.

AUCTIONEER / AUCTION COMPANY RIGHTS

The auctioneer has the right at his absolute discretion to refuse any bid. The highest bidder shall be the buyer at the hammer price.

Disputes If any dispute arises between two or more bidders, the auctioneer may decide the same or may immediately put the lot up for sale again, and resell to the highest bidder. The decision of the auctioneer shall be final and absolute. The record of sale kept by the auctioneer and clerk will be taken as final in the event of any dispute. If any dispute arises our sale record is conclusive.

Condition of Lots Sold The auctioneer and Auction Company shall not be responsible for the correct description, authenticity, genuineness of, or defect in any lot, and makes no warranty in connection therewith. No allowance will be made or sale set aside due to any incorrectness, error in cataloguing, or any imperfection not noted.

All lots to be sold AS IS, WHERE IS. ALL SALES FINAL and without recourse.

Addition or Withdrawal of Lot

The Auction Company reserves the right to withdraw from sale any of the items listed or to sell at this auction items not listed.

CONDUCT OF AUCTION

Marquise Auction Group is committed to conducting an ethical, transparent auction. Every effort has been made to provide information and support to make this auction of the highest integrity.

TITLE

Title to any lot remains with Consignor, any secured party of the Consignor, or assignee of Consignor, as the case may be, until the lot is paid for in full by Bidder. Marquise Auction Group reserves the right to require payment in full before releasing any lot to the successful Bidder.

RISK OF LOSS

Bidder assumes any and all RISK OF LOSS at the Fall of the Hammer. Fall Of The Hammer Mortality Insurance will be provided by C. Jarvis Insurance Agency. 

INSURANCE

Immediate full mortality insurance coverage is effective upon the fall of the hammer, for the amount of the total purchase price. The insurance, arranged by the sale Management (Marquise Auction Group, LLC) with C. Jarvis Insurance Agency of Aurora, Ohio will remain in effect until the purchaser signs the contract or until midnight of the first business day after the sale, whichever occurs first, by which time it is the obligation of the new owner to arrange permanent insurance is desired.

REMOVAL FROM SAHARA SCOTTSDALE

Horses must be removed from Sahara Scottsdale no later than February 28, 2017. Any horse remaining after that date will be charged for care by arrangement with Sahara Scottsdale.

CATALOG

All descriptions, photographs, illustrations, and terminology including but not limited to words describing condition (including any condition reports requested by Bidder, see also Terminology), authorship, period, culture, source, origin, measurement, quality, rarity, provenance, importance, exhibition, and relevance, used in the Catalog, bill of sale, invoice, or anywhere else, represent a good faith effort made by Marquise Auction Group to fairly represent the lots and property offered for sale as to origin, date, condition, and other information contained therein; they are statements of opinion only. They are not representations or warranties and Bidder agrees and acknowledges that he or she shall not rely on them in determining whether or not to bid or for what price.

INSPECTION

Bidders are accorded the opportunity to inspect the lots and to otherwise satisfy themselves as to the nature and sufficiency of each lot prior to bidding, and Marquise Auction Group urges Bidders to avail themselves accordingly. Bidders are invited to attend pre‐sale viewing for all of Marquise Auction Group’s lots. All lots to be auctioned are available for viewing prior to the sale on dates specified on our website or by appointment. Bidder is encouraged to examine lots thoroughly. Bidder may also request Veterinary reports. Marquise Auction Group's staff are available at viewings and by appointment.

BIDDER

By bidding in this sale, Bidder personally and unconditionally guarantees payment. The authorized representative of any corporate, partnership, group, or individual Bidder who is present at the sale shall provide Marquise Auction Group or its agent, prior to the commencement of the bidding (or at the time of registration), with a statement signed by a principal, director or officer that they, he or she, personally and unconditionally guarantees any payment due Marquise Auction Group.

RESERVES

Lots may be subject to a reserve which is the confidential minimum price below which the lot will not be sold. Consignors may not bid on their own lots or property. The auctioneer may execute a bid on behalf of the consignor to protect the reserve, either by entering a bid in response to salesroom, telephone or absentee bids. Under no circumstances will the auctioneer place any bid on behalf of the consignor above the reserve. The auctioneer will not specifically identify bids placed on behalf of the consignor to protect the reserve.

PAYMENT

Payment in full is due by 5:00 PM MST on Monday, February 27, 2017 or upon presentment of an invoice. Marquise Auction Group reserves the right to void an invoice if payment in full is not received by 5:00 PM MST on Monday, February 27, 2017 or within one (1) calendar day of the invoice date. In cases of nonpayment, Marquise Auction Group's election to void a sale does not relieve the Bidder from their obligation to pay Marquise Auction Group its fees (Sale Commission) on the lot and any other damages pertaining to the lot.

All sales are strictly for cash in United States dollars (including U.S. currency, bank wire, cashier checks, eChecks, and bank money orders, and are subject to all reporting requirements. Credit Cards are accepted and will be subject to a 5% Convenience Fee.

In the event that a Bidder's payment is dishonored upon presentment(s), Bidder shall pay the maximum statutory processing fee set by applicable state law. If Bidder attempts to pay via check and the financial institution denies the transfer from Bidder's bank account, or the payment cannot be completed using the selected funding source, Bidder agrees to complete payment.

If Marquise Auction Group refers any invoice to an attorney for collection, the Bidder agrees to pay attorney's fees, court costs, and other collection costs incurred by Marquise Auction Group. If Marquise Auction Group assigns collection to its house counsel, such attorney's time expended on the matter shall be compensated at a rate comparable to the hourly rate of independent attorneys. Under no circumstance will Marquise Auction Group incur liability to a Bidder in excess of the purchase price actually paid.

SALES, USE, LUXURY TAX, etc

Buyer is solely responsible for any Sales, Use, Luxury, etc. Tax due.

WARRANTIES

Marquise Auction Group does not provide any warranties to Bidders, whether expressed or implied, beyond those expressly provided in these Conditions of Sale. All property and lots are sold "as is" and "where is". By way of illustration rather than limitation, neither Marquise Auction Group nor the Consignor makes any representation or warranty, expressed or implied, as to merchantability or fitness for intended use.

UNAUTHORIZED STATEMENTS

Under no circumstances is any employee, agent or representative of Marquise Auction Group authorized by Marquise Auction Group to modify, amend, waive or contradict any of these Conditions of Sale, any term or condition set forth on a registration form, any warranty or limitation or exclusion of warranty, any term or condition in either the Registration Form or these Terms and Conditions regarding payment requirements, including but not limited to due date, manner of payment, and what constitutes payment in full, or any other term or condition contained in any documents issued by Marquise Auction Group unless such modification, amendment, waiver or contradiction is contained in a writing signed by all parties. Any statements, oral or written, made by employees, agents or representatives of Marquise Auction Group to Bidder, including statements regarding specific lots, even if such employee, agent or representative represents that such statement is authorized, unless reduced to a writing signed by all parties, are statements of personal opinion only and are not binding on Marquise Auction Group, and under no circumstances shall be relied upon by Bidder as a statement, representation or warranty of Marquise Auction Group.

HEADINGS

Headings in this agreement are for convenience only and shall not be used to interpret the substantive sections to which they refer.

ENTIRE AGREEMENT

These Conditions of Sale constitute the entire agreement between the parties together with the terms and conditions contained in the Registration Form. They may not be amended, modified or superseded except in a signed writing executed by all parties. No oral or written statement by anyone employed by Marquise Auction Group or acting as agent or representative of Marquise Auction Group may amend, modify, waive or supersede the terms herein unless such amendment, waiver or modification is contained in a writing signed by all parties.

If any section of these Conditions of Sale or any term or provision of any section is held to be invalid, void, or unenforceable by any court of competent jurisdiction, the remaining sections or terms and provisions of a section shall continue in full force and effect without being impaired or invalidated in any way.

GOVERNING LAW

These Terms and Conditions, and all lawsuits or actions under it, shall be construed in accordance with and under and pursuant to the laws of Arizona, and in any lawsuit or any action that may be brought arising out of, in connection with, or by reason of these Terms and Conditions, the laws of Arizona shall be applicable and shall govern to the exclusion of the law of any other forum, without regard to the jurisdiction in which any such lawsuit or action may be instituted. Venue shall be in Maricopa County, Arizona, with the prevailing party entitled to reasonable attorneys’ fees and costs.

updated - 1/2/2017 18:11 PST