TREASURE AUCTION #1

TERMS AND CONDITIONS

• This is a traditional “mail bid” auction, meaning that all items will be sold to the highest bidder and bids will be accepted up to the closing date and time. Bids may be submitted by mail, phone, fax, email, or in person. We cannot be responsible for errors in your bidding or the loss or delay of any bids that do not reach us by the closing date and time. All bids submitted will be considered in U.S. dollars.
   

• Bidders are advised to make full use of the MIN/MAX BID system. In case of tie MAXIMUM bids, we do NOT automatically award the lot to the earlier bidder but instead award the lot to the bidder with the higher MINIMUM bid. If there is no tie, then the high bidder will win the lot at his MINIMUM bid OR approximately 10% above the next-highest MAXIMUM bid. Any bidder who does not supply a MINIMUM bid will NOT have his winning bid reduced to 10% above the next-highest MAXIMUM bid. Please see the explanation of our MIN/MAX BID system on the back of the bid sheet.
   

• A winning bid is considered a formal contract between the buyer and the consignor. The winning bidder, by submitting his bid, agrees to purchase the lot(s) he/she has won and further agrees to pay the Buyer’s Premium and any shipping, sales tax, customs duties, or other surcharges involved in delivering the lot(s) to the buyer. Winning bidders will be notified immediately after the sale with an invoice reflecting the total amount due and shall remit payment within 10 business days of notification. If payment has not been received after 10 days, then we reserve the right to re-open the lots to second- and third- (etc.) highest bidders. Title to each lot does not pass until the item is paid for in full.

• Unless other arrangements are made, all lots will be sent to winning bidders via U.S. Mail when the invoice has been paid in full. All domestic shipments will carry full insurance, but foreign shipments are made at the buyer’s risk (insurance available in some cases).
   

• A Buyer’s Premium of 20% will be added to the winning bid for the total purchase price before any applicable tax or surcharges. Winning bidders who pay by cash, check, money order, wire transfer or direct deposit are eligible for a reduction of the Buyer’s Premium by 5%. Winning bidders who pay by Visa/MC (not through PayPal) are eligible for a reduction of the Buyer’s Premium by 2%.
   

• Payment is accepted by cash, check, money order, wire transfer, direct deposit, PayPal, and Visa/MC. Note that payments can be made by American Express and Discover and other credit cards through PayPal. All payments by check or money order should be payable to Daniel Frank Sedwick. Payments by direct deposit or wire transfer should be made to the Daniel Frank Sedwick Auction Escrow Account, Bank of America account #008981014683, ABA #026009593, SWIFT code BOFAUS6S. Payments by PayPal should be made to aworkman@tampabay.rr.com. All payments shall be in U.S. dollars drawn on a U.S. bank.
   

• New bidders who do not have established credit with us must supply references and/or a 25% deposit. Visa/MC is acceptable in lieu of a deposit. If your bids are unsuccessful, your deposit will be refunded, but if you are a winning bidder, your deposit will be applied to your purchase.
   

• You may opt for “either/or” bids and/or total budgets on your bid sheet. “Either/or” bids are used when you want just one (or whatever number you specify) of two or more lots but it does not matter which of those lots you get. Total budgets are used when you are bidding on more lots than you expect to win and do not wish to spend more than a specified amount. Mail-bid sales are uniquely flexible for these situations.
   

• Most lots are unreserved, but some lots do have a reserve or minimum bid that the consignor will allow. Any reserve will be at or below the stated low estimate. All estimates are given in U.S. dollars.
   

• Even when there is not a reserve, bidders are advised that Daniel Frank Sedwick is an active dealer in this material and will buy any and all items at a wholesale level; therefore any bids below reasonable wholesale will not be considered. Furthermore we reserve the right to reject any bids that we have reason to believe are not submitted in good faith.
   

• All items are guaranteed genuine and as described. Returns will NOT be accepted UNLESS there was an error in the listing. (Note that grading and estimation of corrosion are subjective and differences of opinion thereof cannot be considered errors.) Any returns must be agreed upon BEFORE shipment back to us, and any applicable refunds will be made immediately upon receipt of the returned item(s). All returns must be submitted back to us in unaltered condition no later than 30 days after the sale, as that is generally when consignors are paid. Any refunds for returns paid for by credit card or PayPal will be subject to a 3% (Visa/MC) or 5% (PayPal) return fee.
   

• Lots may be inspected at our bank vault in Winter Park by appointment only during our office hours of Monday through Friday, 10 a.m. to 4 p.m. High-quality photos of all items are viewable on our website 24 hours a day, 7 days a week.
   

• Florida sales tax (6% to 7.5%, depending on your county) will be added to all purchases of items that are NOT coins or bullion. Coins and bullion are also taxed if the total coin and/or bullion purchase is less than $500.
   

• Certain items in this sale (as noted above their listings) are subject to a $5 handling fee PER LOT to account for the extra work involved in packaging and storing these items.
  This auction is conducted in accordance with the auction laws of the State of Florida. The licensed auctioneer is Daniel Frank Sedwick, AU#3635, AB#2592.
   

  

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