Terms and Conditions
1. This is a Live Auction conducted by Holabird’s Western
Americana Collections LLC (HWAC).
2. Live (Floor) Bidding: Please arrive a few minutes early to
check in and receive your bidding paddle. We will open lots with
more than one bid at the current high absentee bid or 50% of the
low estimate at the auctioneer’s discretion. Please be sure to bid on
the correct lots during the live auction. Our auction progress is at
a rate of between 100 and 200 lots per hour. When the auctioneer
says “sold”, he will identify the successful bidder by number and
announce the winning bid amount. If you are not sure whether you
won the lot or not, it is your responsibility to ask for clarification
immediately. Auctioneer reserves the right to reopen the lot in the
case of an immediate dispute at the actual time of the sale.
3. Telephone Bidding: Telephone bidding requests MUST be
scheduled prior to this auction. If you do not schedule in advance,
and choose instead to call on the day of the auction to request a
line for bidding, you may find that we are unable to accommodate
your request. Please limit your telephone bids to items of value
greater than $500, or to a string of items with a similar total.
4. Agent Bidding: There are numerous professional agents
available to assist you should you require this service. Please
contact the office for a list or to arrange for representation on the
floor during the live auction. HWAC is not responsible for any acts
or omissions by agents acting on behalf of bidders at our auctions.
5a. Live Auction Absentee Bidding: Absentee bids for the live
auction MUST be received by 5pm pacific time the day before
the auction. Bids accepted after the cutoff time will be represented
live only if an agent is available and will not be considered
absentee or given first priority as such. It is your responsibility to
submit all lot numbers and bid amounts accurately. Absentee bids
should be equal to at least 50% of the low estimate if an estimate
is provided. Bids on “No Lots” or “Withdrawn” Lots are considered
no-bids. Bids made in amounts that do not conform to the bid
increment table in item 8 below will be automatically rounded up
or down by the computer, or rounded to the nearest proper bid
increment at the discretion of the auctioneer. Absentee bids are
entered into a computer which will bid live on your behalf at the
auction. Absentee bids will compete live against other absentee
bids, live internet bidders, floor bidders and phone bidders.
5b. NEW BIDDERS: Bidders unknown to us must provide
commercial references or a deposit of 25% of the amount to be
bid in order for the auction staff to execute bids. Deposits will be
credited towards lots won and any balance will be refunded within
10 business days after the auction has concluded. New online
users will be given a spending limit at their initial request. In order
to increase this limit, you may be required to provide a letter of
authorization from your bank in addition to providing references.
Please contact our office at any time if you have questions
regarding spending limits or references required to bid.
6. Internet Bidding: Absentee and Live internet bidding are both
available through our live auction network. If you wish to bid LIVE
via the internet, you MUST pre-register. A live video and sound
feed will be accessible during the auction for those bidding via the
internet. Online bidding remains open through the live auction
and online absentee bids may be placed anytime. Live bidding
will open when the auction starts. Internet bidding is offered as
a convenience for those who cannot attend the live sale. Please
note that there may be delays or interruptions in internet
connectivity that are beyond our control. Attending the live
auction or arranging for an agent is the most reliable way to secure
your bids.
WARNING: Auction participation through the live internet bidding
site is not 100% foolproof. The technology for this process is still
under development, and the operation of it and the corresponding
internet connectivity issues are far beyond our control. Some folks
have attempted to use the live internet bidding process as their
primary method of bidding, and have been quite successful. Others
have failed completely. Depending upon your computer, server, host,
and other factors, internet signals may be delayed, such that bids
may not be received in time. We cannot be held responsible for these
delays, or for the lack of placed bids in a timely manner, or any other
factors leading to unaccepted bids that are far beyond our control.
Bidders should always have a backup plan for lots they highly desire.
Live participation is best, followed by phone participation. We will
not reopen lots for missed bids.
7. Reserves: Most of the lots in this auction are unreserved. Gold is
generally reserved at or near spot, though it could be slightly below
spot.
8. Bidding Increments: All bids must be submitted in U.S. dollars
and in whole dollar amounts only in the appropriate increments
as outlined below. If you choose to submit bids in an increment not
listed below, your bid will be rounded to the nearest increment
and you will be expected to pay the amount to which the bid
was rounded should your bid be the winning bid. If you have any
questions about an appropriate bid amount, please call us.
From: To: Increment:
$1 $95 $5
$100 $190 $10
$200 $475 $25
$500 $1,450 $50
$1,500 $3,400 $100
$3,500 $9,750 $250
$10,000 $max $500
9. Bid Reduction: All winning absentee bids will be reduced, if
necessary, to the next bidding increment up from the last competing
bid, as long as the minimum bid requirement has been met. For
example, if you submit an absentee bid of $1000 and the next highest
competing bid is $250, then you will win the lot for $275.
10. Bid Information: Collectors often ask in advance the price level
of a particular lot. We will give out the current high absentee bid until
we close the day before the live auction. You may also view absentee
bids online at www.holabirdamericana.com. While we try to update
the absentee bids as often as necessary, bids received close to the
bidding deadline might not be reflected online, and we disclaim any
responsibility for any bids made in reliance upon inaccuracies on our
website.
11. Bid Cancellation: If you wish to cancel or change a bid after you
have submitted your bids to us due to an error, you MUST PHONE us
to advise us of this. Bid cancellations through mail, email, or fax are
not advisable. Errors are easy to make and we are happy to assist all
callers.
12. All stock certificates, checks, warrants, and other financial
documents sold herein are sold as antiquities, and have no financial,
securities, or public trading value whatsoever.
13. We reserve the right to reject any bid we feel is not made in
good faith.
14. The placing of a bid shall constitute the bidder’s acceptance
of these terms of sale