Modern Masters & Decorative Arts

DMI Auction Terms & Conditions

Buyers participating in DMI Auctions' auctions acknowledge and accept the following "Auction Terms and Conditions??. By registering to bid or by placing a bid through any means, you (the buyer) agree to be bound by the following terms and conditions:

1. Conduct of the Auction: The auctioneer has the right, in his/her sole discretion, to determine the conduct of the sale, including, without limitation, to advance the bidding, to reject any bid offered, to withdraw any lot, to reoffer and resell any lot, and to resolve any dispute in connection with the auction or sale. In any such case, the judgment of the auctioneer is final and shall be binding upon all auction participants. If the Internet stops working during an auction, the auctioneer has the right, in his/her sole discretion, to proceed with, or reschedule, the auction. You agree to allow DMI Auctions to use your contact information, including your physical and email addresses, for marketing purposes including receiving emails and mailers.

2. Bid Increments: Auctions will be conducted in the following increments:


From Increment
0-200 10
200-500 25
500-1000 50
1000-2000 100
2000-5000 200
5000-10000 500
10000-20000 1000
20000-50000 2000
50000-and abaove 5000

increments at the auctioneer's discretion. Bid increments can be at the discretion of the auctioneer.


3. Buyer's Premium: All bidders will be charged a buyer's premium of 25% (all forms of bidding including in-house, phone, absentee and internet bidding) of the hammer price. The total sales price of an item will be calculated as follows: the hammer price of the item, plus the buyer's premium, plus sales tax, unless exempt, plus a transaction fee if payment is made by credit card typically 3-4%, as calculated by the Merchant.

4. Sales Tax: Sales Tax will be charged in accordance with state laws. Florida Buyers will be charged 7% sales tax. No sales tax will be charged if the successful bidder provides DMI Auctions with a copy of a valid "Resale Form" or "Tax Exempt Certificate."

*** EXEMPTION BY RESALE CERTIFICATE: Bidders with a current, valid resale certificate are encouraged to email a copy to info@DMILiveAuctions.com prior to the auction date.

5. Payment: Payment is due upon close of Auction. Payment may be made by cash, wire transfer, bank transfer, ACH, Zelle, cashier's check, money order, Visa, Mastercard, Amex, or Discover, however, invoices exceeding $10,000.00 must be paid by cash, bank transfer, Zelle, ACH, or wire transfer. All jewelry, gold and silver MUST be paid by WIRE-No Exceptions. Additionally, international buyers must pay by wire transfer; no other form of payment transfer will be accepted from international buyers. Buyer consents to the completion of Buyer's credit card transaction without Buyer's signature.

If a buyer fails to make timely payment as required in this paragraph, DMI Auctions shall be entitled, in its sole discretion, to exercise any remedies legally available to DMI Auctions, including, but not limited to, the following: (a) filing suit (b) cancellation of the sale of the property to the non-paying buyer, including the sale of any other property to the same buyer; (c) reselling the property at public or private sale, with or without reserve; (d) retention of any amounts already paid by the buyer for the unpaid items, as compensatory damages for the lost opportunity to sell the items at full hammer price; (e) rejection of any bids of the buyer at future auctions; (f) setting off any amounts owed by DMI Auctions to the buyer; (g) releasing buyer's name and contact information to the consignor; and (h) taking any other action DMI Auctions deems necessary or appropriate under the circumstances.

6. Lot Descriptions / Inspection of Merchandise: DMI Auctions has described each lot as accurately as possible and included detailed photographs as part of the condition statement, however, all property is sold "AS IS, WHERE IS" with no representation or warranty of any kind from DMI Auctions or the consignor. Measurements are approximate and are provided mainly for shipping purposes. Buyers are responsible for satisfying themselves as to the condition of, and all other matters concerning, the property, including but not limited to its authenticity and provenance, thus prospective buyers are advised to personally examine any property on which they intend to bid prior to the auction. Prospective buyers may view lots at DMI Auctions' auction location during the preview hours advertised. Additionally, prospective buyers should call or e-mail DMI Auctions with any questions prior to placing their bids and, as a courtesy, condition reports for any lot are available from DMI Auctions prior to the sale. DMI Auctions is not liable for any errors or omissions contained in any catalog, report, inquiry response or in any other description of the Property. Any statements made by DMI Auctions, including all statements in any report, catalog or inquiry response, are intended as statements of opinion only and are not to be relied upon as statements of fact and do not constitute representations or warranties of any kind.

***** DMI AUCTIONS MAKES NO GUARANTEES, REPRESENTATIONS OR WARRANTIES OF ANY KIND WITH RESPECT TO THE PROPERTY, ITS AUTHENTICITY, AUTHORSHIP, PROVENANCE, CONDITION, VALUE OR OTHERWISE. DMI AUCTIONS ASSUMES NO RISK, LIABILITY OR RESPONSIBILITY FOR THE AUTHENTICITY OF THE AUTHORSHIP OF ANY LOT OR PROPERTY. DMI AUCTIONS HEREBY DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY AND WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE. ALL SALES ARE FINAL. *****

7. Estimates and Reserve Price: Estimates are provided only as a guide for prospective buyers. DMI Auctions makes no representations or warranties regarding the value or anticipated selling price of any Property.

Some lots offered are subject to a reserve. A reserve is a confidential minimum price below which the lot will not be sold. DMI Auctions will act to protect the reserve by bidding through the auctioneer. The auctioneer may open the bidding on any lot below the reserve by placing a bid on behalf of the Seller and may continue to bid on behalf of the Seller up to the amount of the reserve.

8. Withdrawals: DMI Auctions reserves the right to withdraw any item from the auction for any reason and shall have no liability whatsoever for such withdrawal.

9. Shipping/Pick-up/Storage: We provide in-house shipping on smaller items; if we are able to ship your item, your invoice will include a shipping charge. Just pay your invoice and we will ship your item within 2 weeks of the auction. If a shipping amount was not included on your invoice, your item is too large for us to ship, and you will need to arrange a third-party shipper. You can call our office at 954-977-5200 for a list of shippers.

No items will be released for shipping until DMI Auctions receives payment in full and all payments have cleared. Thereafter, items may be picked up at DMI Auctions' facility Monday through Friday from 9:00 A.M. - 4:00 P.M. by the winning bidders or their shippers. Please call DMI Auctions the day before you intend to pick up any item. If a shipper is picking up an item, please send DMI Auctions an e-mail confirming the name of the shipper and the property to be released into the shipper's possession, and providing DMI Auctions permission to release the property to your shipper. This authorization must be given in writing.

All winning lots must be picked up within thirty (30) days following the close of the auction. After this time, each lot will become subject to storage fees of not less than $5.00 per day. DMI Auctions has no duty to store any lot indefinitely.

After ninety (90) days following the close of the auction, any lot which is not picked up will be deemed abandoned by the buyer and will become the property of DMI Auctions and may be disposed of by DMI Auctions, in any manner it chooses, without notice and without recourse. You authorize DMI Auctions to discard or sell any abandoned property and to keep any proceeds from the sale of abandoned property. You hereby release DMI Auctions of and from any claims related to such abandoned property (including without limitation claims for purchase price refunds, possession of such lot or other damages or losses). You acknowledge and agree that DMI Auctions is not responsible for damage or loss that occurs to abandoned property and that DMI Auctions is not responsible for insuring abandoned property after the ninety (90) day retrieval period. You agree that this remedy is reasonable considering the costs DMI Auctions would have to incur to continue to store and process purchased lots after an auction.

10. Governing Law: This Agreement shall be governed and construed in accordance with the laws of the State of Florida and, by registering for and bidding in the auction (whether personally, by telephone or by agent), the buyer agrees that the sole and exclusive venue for any litigation relating to or arising out of this Agreement or the auction shall be in the State Courts located in Broward, Florida.