Antique and Rare Oriental Rug Auction

1. Agreement: By placing a bid in this auction, Buyer agrees to these terms and conditions. 2. Refunds: All Sales are Final. No refunds are given under any circumstances. 3. Warranties and Representations: All property is sold AS IS. Global Auctions Company, for itself and as agent for the seller, makes no warranties or representations of any kind with respect to any Lot. While we make all efforts to be accurate, Buyer agrees that in no event shall Global Auctions Company be responsible for the correctness, description, genuineness, authorship, attribution, provenance, period, culture, source, origin, value or condition of any Lot. Nothing being said or done by Global Auctions Company shall be deemed a warranty of representation or an assumption of liability by Global Auctions Company. 4. Bid Discrepancies: In case of any discrepancy, from any source, the auctioneer's record is the official record of the sale. In case of any tie bids, the auctioneer's ruling is final. Global Auctions Company will have sole and absolute discretion to determine who the successful bidder is and/or may withdraw the Lot or reoffer the Lot for sale, in the event of a dispute. 5. Shipping: Global Auctions Company proudly offers shipping for any lot that includes a shipping quote. The amount entered is the actual shipping cost per the shipping service specified and includes insurance and signature confirmation. Global Auctions Company will decide the shipping method for multiple lot winners unless agreed to prior to the purchase. Buyer at their own discretion can arrange for their own shipping, in which case is solely the responsibility of the buyer. 6. Payment and Pick-Up Policy: Buyer will receive an invoice within three (3) business days after the auction. It is the responsibility of the Buyer to contact Global Auctions Company to make payment and remove their merchandise. -Full payment and removal of goods is required no later than seven (7) days from the completion of the auction. 7. Storage and Fees: Failure to remove purchases within the above time frames will result in Global Auctions Company transporting and storing your property, with no liability to Global Auctions Company at an off-site warehouse facility. There will be a minimum transportation charge of $50.00, plus an ongoing storage fee of a minimum of $10.00 per lot, per day, that purchases remain in the storage facility. Merchandise left in storage for more than thirty (30) business days will be considered abandoned and will be sold at our discretion and date of our choosing. If the net resale of a lot (hammer price less 22% commission, all resale, storage, and transportation fees) is greater than $0.00, a check will be mailed to the Buyer's address on file. 8. Estimates: Auction price estimates are given on each lot. Estimates should not be relied on as a prediction of the actual selling price or the actual value of any lot. 9. Lot Withdrawals: Global Auctions Company reserves the right to withdraw any lot at any time from the auction for any reason. 10. Failure to Pay: If Buyer fails to pay the balance of the invoice at the close of the auction, or otherwise comply with these Terms and Conditions, Global Auctions Company, shall be entitled to the following remedies: (1) to recover from Buyer any monetary loss arising on any resale of the Lot (including all costs of any resale or attempted resale); (2) any deposit or partial payment paid by Buyer: (3) to recover from Buyer all of its costs and expenses of collection, including attorney's fees of fifteen percent (15%) of the outstanding balance, interest on the outstanding balance of 1.5% per month and costs; and (4) all other relief and remedies allowed by the law. California law applies and jurisdiction and venue over all disputes involving these Terms and Conditions shall be in Los Angeles, California.