Thank you for your interest in this exciting online auction brought to you by Auction Markets, LLC (“Auction Markets” and/or “Auctioneer”). All items will be selling to the highest bidder regardless of price pursuant to an Order by the US Bankruptcy Court, District of Maryland. This collection is being sold on behalf of Joseph Bellinger, Chapter 7 Trustee, In Re: Leah M. Gansler and Jacques Gansler, District of Maryland Bankruptcy Court, Case No. 15-25311. All items sells to the highest bidder above starting bid.
PLEASE READ ALL TERMS AND CONDITIONS BEFORE BIDDING. BY BIDDING, YOU ARE AGREEING TO THESE TERMS AND CONDITIONS – These Terms and Conditions are in addition to the Online Auction Terms and Conditions.
PLEASE NOTE THAT ALL ONLINE AUCTION SYSTEMS ARE SUBJECT TO VARIOUS INTERNET SPEEDS. YOU ARE ENCOURAGED TO USE THE MAXIMUM BID FEATURE AND YOU ARE ENCOURAGED TO NOT BID "AT THE LAST SECOND". ENTER YOUR BIDS PROMPTLY TO ALLOW THE ONLINE SYSTEM TO PROCESS ALL BIDS IN A TIMELY FASHION. GOOD LUCK!
The sale is “AS-IS, WHERE-IS” with no representations or warranties of any kind; specifically, the Trustee does not represent that the African Artwork is an antiquity, “in the style of” or reproduction of African artifacts; and, in fact, the Auctioneer has consulted with an expert in the retail sale of African artifacts and he has been informed that the African Artwork may be reproductions or in the style of authentic African artifacts. The Trustee does not have any Certificates of Authenticity or supporting documentation from when the Debtor purchased the African Artwork to describe the provenance.
No Buyers Premium. No Buyers Premium is charged by Auction Markets, LLC for this auction.
Virginia Sales Tax Applies. Each winning bidder is responsible for paying a 6.0% sales tax on their entire purchase directly to the Auction Company. No sales tax will be charged to tax-exempt resellers that provide a tax-exempt certificate to Auction Markets prior to payment. All Virginia residents are subject to payment of the 6% sales tax. Auction Markets reserves the right to reject any tax-exempt certificate it does not deem to be valid and the buyer will be required to apply for a tax refund from the Commonwealth of Virginia.
Payment. Payment may only be made in credit card, cash and by wire transfer in US Dollars only. Cash purchases are limited to under $10,000. Purchases over $10,000 must be made by wire transfer. Credit card purchases are limited to $5,000. This is a Court-ordered auction and the terms have been pre-approved by the US Bankruptcy Court. Please do not bid unless you have the financial resources to pay for your purchase(s). After the auction ends, you will be emailed and/or called by an Auction Markets representative to determine if you will require Shipping Services. We will then distribute all invoices shortly thereafter. You are strongly encouraged to immediately respond to our requests regarding Shipping Services so we may promptly process your invoice. Final payment for all of your purchases must by made within one (1) business day after the conclusion of the auction. Wiring instructions will be delivered to each successful bidder as needed. No bidder may pick-up their purchases until the entire purchase price has been received by Auction Markets. The initiation of a wire transfer is not considered payment. The funds must be received by Auction Markets prior to pick-up. You are strongly encouraged to initiate all wire transfers by 2:00pm on each business day to insure timely payment.
Default. Simply put, this is not Nordstrom. This is a court-ordered auction with very specific terms and conditions that you are agreeing to abide by when you bid. You understand that there are specific legal consequences if you do not follow through with your obligations. Therefore, at Auction Markets, we do not require credit card authorizations prior to bidding and we trust that when you bid, you will follow through with your bid. Unfortunately, there are some people that don’t always follow the rules so we have a “One Strike” policy. If you are a winning bidder and you default on any part of your purchase, for any reason, including that you decide you only want some of the items you purchased, you will (a) be immediately banned from participating in all future Auction Markets auctions, (b) be subject to litigation, specific performance and enforcement of your bid by the Trustee in the US Bankruptcy Court, District of Maryland, including but not limited to either payment in full of your bid plus all legal fees associated with enforcement of your bid and/or payment of any difference between your bid price and the re-sales price and all costs of re-sale in the event we re-sell the item(s) you defaulted on and (c) other legal remedies available to Auction Markets and the Trustee for damages caused. If you do not pay for your item(s) by the payment due date, we reserve the right to immediately re-sell the item without further notice. We have no obligation to “work with you” or “wait for payment”. We are required by the Bankruptcy Court to liquidate the assets we are selling. Please remember that when you bid online, your bid is binding and you are contractually obligated to pay for your purchases if you are the winning bidder. If you are unsure if you have the financial ability to pay for your purchases with cash or wire transfer by the payment deadline, then please do not bid.
Jurisdiction. Auction Markets is selling these assets on behalf of a Chapter 7 Bankruptcy Trustee. These assets were repossessed as a result of a bankruptcy filing. The US Bankruptcy Court, District of Maryland shall have exclusive jurisdiction over any disputes that may arise between a buyer, the seller and/or Auction Markets.
Extended Bidding. All of our auctions will extend an additional two minutes each time there is bidding activity within the last two minutes of any individual item auction closing and will continue to extend two minutes until there is no more bidding activity within the last one. You are strongly encouraged to use the maximum bid feature so the online platform can automatically enter your bid. In order to enter your maximum bid on a Lot, simply enter your highest bid and the bidding platform will enter the next highest bid for you and will raise your bid only by the next increment. For instance, if the current bid is $100.00, the minimum bidding increment is $25.00 and your maximum bid is $300.00, when you enter your maximum bid for $300.00, the bidding platform will only increase the bid to $125.00 (the current bid plus the $25.00 minimum bidding increment). If nobody else bids, you are the high bidder for $125.00. If another bid is entered for $150.00, then the bidding platform will automatically increase your bid to $175.00. This will continue until your maximum bid is reached or you are declared the high bidder.
Bidding Mistake. If at any time during the auction you mistakenly make a bid that needs to be correct, such as bidding $10,000 instead of $1,000, please immediately email Auction Markets at firstname.lastname@example.org to report the error. Please write in the subject line – URGENT BIDDING MISTAKE – or similar text to notify us of the mistake and we will attempt to correct it promptly.
Asset Condition. We have taken great care to accurately describe each asset being sold. Regardless, all assets are being sold in "As-Is, Where-Is" condition and with all faults. Neither the Seller nor Auctioneer makes any warranty, express or implied, as to the nature, quality, value or condition of any asset. Auctioneer and Seller expressly disclaim any warranty of merchantability or fitness for a particular use. No sale shall be invalidated by reason of any defect or inaccuracy in any description or listing, and no liability shall be borne by the Auctioneer with respect to such errors. All information has been obtained from sources generally believed to be reliable, but the accuracy cannot be guaranteed or warranted by the Auctioneer. By bidding you acknowledge it is your responsibility to inspect all items and to make your own inquires prior to bidding. Please submit any inquiries about any item being sold to email@example.com. All descriptions are believed to be accurate but are not guaranteed. Please verify all quantity counts. In the event of a quantity count difference, the final transaction price will be adjusted on a pro-rata basis only and only at the sole discretion of the Auctioneer after consultation with the Seller. The Auction Company, Trustee or their representatives do not make any representations or warranties concerning condition, merchantability, or use of any of the assets being sold. All assets are being sold strictly in "as-is, where-is" condition.
Each bidder understands that all items being sold were previously owned. Any item referenced as “new” indicates that the item still has its original sale tags on or with the item and there is indication that the item was over used by the previous owner. In some cases, the previous owner verbally indicated to Auction Markets that they never used the item, in which case we will reference the item as being new or in like new condition. Otherwise, each bidder understands that all items being sold have been used or worn.
Provenance and Authenticity. All jewelry has been inspected and described by Tina L. Leight, Graduate Gemologist, GIA, owner of Gems Jewelry and Appraisals, Round Hill, Virginia. The following items were described by Ms. Leight and included in our descriptions: 1420-1426. While we have taken great care to provide the most accurate description(s), we do not take responsibility for any errors whatsoever in any description(s). All measurements are approximate. Certain descriptions may also indicate that a certain part of an item being sold may be “Gold” or “Silver” or some other type of metal. Unless a specific carat weight is provided in the description, please assume that the reference to the type of metal may only be the color and not the actual metal. For instance, if a handbag has “Silver clasps”, they may only be silver in color and not actually precious silver. If you are not able to view the items in person and you would like for a representative of Auction Markets to take specific, additional pictures of any item and email them to you, please email your request within 72 hours of the close of the auction to firstname.lastname@example.org and we will do our very best to accommodate your request. We strive to provide the best information possible to all bidders.
The African Artwork was described by Charles Jones African Art, Wilmington, North Carolina based on the photographs provided by Auction Markets, LLC.
Inspection of Assets. The assets will be made available for inspection by appointment only. Please contact Stephen Karbelk at email@example.com to schedule an inspection. You may also email inquiries about any asset to firstname.lastname@example.org and we will do our very best to answer your questions.
Shipping Services. All assets are located in Ashburn, Virginia. After the conclusion of the auction, a representative from Auction Markets, LLC will contact you by email and/or phone to determine if you require shipping services or if you will be picking up your purchase in person.
In Person Removal – You may pay for and pick up your purchases in person on Thursday, May 10, 2018 9am to 3pm and Friday, May 11, 2018 from 9am to 3pm at Auction Markets, LLC, 20333 Medalist Drive, Ashburn, VA 20147. Prior to arriving, please notify Auction Markets, LLC when you will be arriving.
Shipping Requested - Smaller Items – Auction Markets, LLC will ship any items to any buyer for $20.00 per item plus the actual cost of postage and plus the cost of USPS Insurance valued at the total purchase price paid. Each item will be packaged and delivered USPS Priority Mail Flat Rate, no signature required, with the declared insured value equaling the total amount paid for the item(s) being shipped or if specifically requested by the winning bidder, Auction Markets will ship your purchases via Federal Express or UPS if the winning bidder provides a pre-paid label. All shipping service fees and postage fees must be paid in advance at the time of payment for the asset purchase. All ships will be sent the same day if payment is received before 1pm EST. All shipments will be sent using tracking services and you will be emailed the tracking number at the time of shipment. Auction Markets, LLC is not responsible for any action of any third party shipping and delivery service, including breakage, damage or loss caused by any third party shipping and delivery service or for any seizure of any item by any Customs official.
Shipping Requested - Larger Items- Many of the items being sold will require special packing and shipping services. It is the responsibility of the buyer to arrange for all special shipping services. All shipping service fees and postage fees must be paid in advance at the time of payment for the asset purchase. If you require special shipping services and you contract with a third party shipping service, you have until May 17, 2018 to have the item picked up from Auction Markets, LLC.
Time is of the Essence. Time is of the essence with respect to all timelines and deadlines described in these terms and conditions. All times are local time.
Severability, Indemnification and Release of Liability. If any part of these Terms and Conditions are deemed unenforceable or invalid, it shall not invalidate any other provision. Each bidder shall indemnify and hold harmless Seller and Auction Markets, LLC against any and all claims, damages, losses, liability or expenses, including reasonable attorneys’ fees that may result as a breach of these Terms and Conditions, or its officers, directors, employees or representatives. Neither the Seller nor Auction Markets, LLC shall be responsible for any damages to any bidder in the event any bidder has a financial loss as a result of their bid(s) and/or purchase(s) from any auction.
Additional terms may be announced or modifications may be made, as necessary. These terms are subject to change.