auction house mumbo jumbo......

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Posted By: 1880nonsports

NOPE. NOT THIS TIME. THEY TELL IT LIKE IT IS.

I just went to bid on something that will come up some time in the future As a result of my participation on this board I am much more of a savy consumer when it comes to auctions and auction houses. So I read the terms and conditions of the house. Pretty unreal. I only posted a few BELIEVE IT OR NOT sections...


A Consignor that bids on their own lots in the Auction Sale may pay a different fee than the buyer's premium charged to all other buyers. "X" reserves the right to include in any auction sale its own material as well as material from affiliated or related companies, principals, officers or employees. "X" may have direct or indirect interests in any of the lots in the auction and may collect commissions. THE TWO PRECEEDING SENTENCES SHALL BE DEEMED A PART OF THE DESCRIPTION OF ALL LOTS CONTAINED IN THE CATALOGUE.

NOW THIS ONE"S GREAT

Pursuant to a separate agreement with "X", "X" may bid for its own account at any auction."X" may have information about any lot that is not known publicly, and "X" reserves the right to use such information, in any manner determined solely by "X" and for the benefit of "X" without disclosing such information in the catalog, catalog description or at the auction.

WOW

Bidder acknowledges and agrees that "X" may not be required to pay a Buyer's Commission, or other charges that other Bidders may be required to pay and may have access to information concerning the lot(s) that is not otherwise available to the public. Any claimed conflict of interest or claimed competitive advantage resulting there from is expressly waived by all participants in the Auction Sale. Lot(s) may carry a Reserve. A Reserve is a confidential price or bid below which the Auctioneer will not sell an item or will re-purchase on behalf of the Consignor of for "X".

THIS IS MY FAVORITE PART. You may have to read it twice but don't pass it by!!!

"X" reserves the right to withdraw any lot at any time, even after the hammer has fallen, until the Bidder has taken physical possession of the lot. No Bidder shall have a right to claim any consequent damages if the lot is withdrawn, even after the Auction Sale.