Below are our auction Terms of Sale. Please read them over as they are applicable to those bidding online, via phone, or via absentee bid. A submission of bids in this action constitutes your acceptance of these Terms of Sale.
1. This is an auction sale, not an approval sale. When the auctioneer calls "sold" or the hammer falls this constitutes a purchase at the price hammered. The auction house has final discretion in all matters. In case of dispute, the lot(s) in question may be resold. Lots will be sold in their numerical sequence unless the auctioneer directs otherwise.
2. Payments must be made in full within 7 business days and arrangement for removal of lots must take place within 7 days after the auction. Absolutely no lots will be released until payment in full has been made. Payment (in U.S. funds) may be made in cash, by personal check (with proper identification, at the discretion of Ancient Resource Auctions.), bank wire transfer, or by MasterCard, Visa, Discover or American Express. We do not accept credit card information through email or over the phone. If you would like to pay via credit card, payment can be made directly from your invoice or you can contact us and we will send an invoice via Stripe, where you can enter your information directly and make payment. If prompt payment is not made, Ancient Resource Auctions reserves the right to resell the lots, and file a dispute against the bidder if bidding took place on an online platform.
3. A 22% buyer's premium will be added to the final hammer price of each lot purchased when bidding through Ancient Resource Auctions via phone or absentee bids. The 22% buyer’s premium will also be applied to all unsold lots purchased after a sale. A 27% buyer's premium will be added to the final hammer price of each lot purchased when bidding through the Liveauctioneers, Invaluable, and Ancient Resource Auctions
4. Appropriate state and local Sales Tax (9.50%) will be added to all California invoices, unless a valid seller's permit is on file with AR Auction Group, LLC prior to any bidding in the auction. Coin purchases of $1500 and over are also sales tax exempt to buyers within California.
5. There are no returns or refunds except for reason of lack of authenticity. Claims to the contrary must be made in writing within ten (10) days after receipt of material. A letter from a recognized expert in the field pertaining to the item in dispute must be presented for refund. No lots may be returned without prior written consent. Late remittance constitutes just cause for revocation of all return privileges. After 45 days from the date of the sale, consignors have been paid. After consignors have been paid, any lot(s) that meet the above stated criteria for return can then only be returned for credit.
6. Absentee bids may be left prior to the auction, and will take priority over a matching internet or phone bid. In case of a tie absentee bid, the earliest received bid will take priority. Absentee bids can be emailed to us at firstname.lastname@example.org or can be called in to us at (818) 425-9633. We will confirm with you that your bids have been received, and those bids will be executed by AR Auction Group, LLC on the day of the sale at no additional charge. AR Auction Group, LLC is not held responsible for any errors in bidding made on behalf of an absentee bidder. AR Auction Group, LLC reserves the right to refuse any bids below the listed starting bid.
7. Shipping is the responsibility of the buyer, and buyer pays shipping cost. We offer in-house shipping for small individual items and small groups of items. For all other items, we have partnered with two local shipping companies. They will collect the won items from us after payment is made, and contact the winning bidder to arrange payment. No pick up fee will be charged by them. If a shipping quote is found on your invoice, we will be providing in-house shipping for you. All lots are shipped at the buyer's risk upon clearance of payment. We will NOT falsify customs value on international shipments! Please note that items of Persian or Iranian origin are subject to US trade restrictions which prohibit their export out of the United States, with no exemptions.
8. Estimates are given and serve only as a guide. They are not given as starting points for bidding. Lots may sell for a price greater than or less than these estimates. Items do not have to reach the low estimate to sell. Some item’s may carry a reserve price, and will not be sold if that price is not reached.
9. The auctioneer may open the bidding on any lot by placing a bid on behalf of the seller. The auctioneer may bid further on behalf of the seller up to the amount of the reserve, by placing successive bids for any lot, or by placing bids in response to other bidders. The auctioneer may accept or decline any bid, or challenge to any bid, as he in his sole discretion shall determine.
11. In the event a successful bidder fails to make payment when due, AR Auction Group, LLC reserves the right to re-sell the merchandise and the bidder agrees to pay for the reasonable cost of such a sale and also to pay any difference between the resale price and the previously successful bid, together with any incidental costs of sale and disbursements.
12. If the auction invoice is not paid for in full when due per invoice terms, the unpaid balance will bear interest at the highest rate permitted by law until paid in full. If the matter is referred to an attorney for collection, bidder agrees to pay all reasonable attorney fees, court costs and other collection cost incurred by AR Auction Group, LLC to collect past due invoices and that the services of process by certified or registered mail, return receipt requested, shall be sufficient to confer ‘in personam’ jurisdiction over bidder.
13. Buyer agrees that any claim of controversy arising out of, or relating to the formation, interpretation of performance of these terms and underlying transactions or the breach thereof, is subject to arbitration or judicial proceedings and shall take place within the County of Los Angeles subject to the laws of the State of California.