Jewelry & Fashion Auction

Terms

Terms of Sale:

LEONARD AUCTION, INC. AS AGENT. The lots listed in this catalog will be offered by Leonard Auction, Inc. as agent for consignor(s) or as owner, subject to the following terms and conditions. By bidding at auction you agree to be bound by these Terms of Sale.

THIS AUCTION IS NOT AN APPROVAL SALE AND ALL SALES ARE FINAL. All lots are sold "AS IS" and without recourse and neither Leonard Auction, Inc. nor its consignor(s) makes any warranties or representations, express or implied with respect to such lots. Neither Leonard Auction, Inc. nor its consignor(s) makes any express or implied warranty or representation of any kind or nature with respect to merchantability, fitness for purpose, correctness of the catalog or other description of the physical condition, size, quality, rarity, importance, medium, material, genuineness, attribution, provenance, period, culture, source, origin, exhibitions, literature or historical significance of any lot sold.

Prospective buyers are strongly advised to exercise due diligence on any property in which they are interested before placing any bids. Due diligence includes but is not limited to reviewing the description, condition report, disclaimers and photographs for each lot. Photographs should be considered an indication of condition in addition to the written condition report. The absence of any reference to the condition of a lot does not imply that the lot is in perfect condition or completely free from wear and tear, imperfections or the effects of aging. Leonard Auction, Inc. is not responsible for the correctness of any statement of any kind concerning any lot, whether written, photographic or oral, nor for any other errors or omissions in description or for any faults or defects in any lot. All efforts are made to accurately represent lots via photograph. Leonard Auction, Inc. is not responsible for differences in color, tone or lighting of a lot shown in a photograph. All measurements and weights are approximations and should not be relied upon. Any request for additional information or photographs must be received by Leonard Auction, Inc., 48-hours prior to the start of the auction. Except as required by local law any warranty of any kind whatsoever is excluded by this paragraph.

The auction catalog may use specific words or phases that have a specific meaning in the context of the auction. Definitions include:

After: A work of art or object made in the style of an artist or maker, generally as a copy, but not by the artist. Sometimes refers to bronzes or other multiples that may have used an artist's mold or plate, but were reproduced by someone other than the artist. Can also be used to describe a direct reproduction after an original work of art.

Attributed: In our opinion, possibly a work of art by the artist or maker, but either unsigned, unmarked and/or lacking adequate provenance or agreement by experts in the field.

Bears the Signature: The work is signed, but the work and signature may not be by the hand of the artist.

Circle of: The auction house thinks this work is possibly from the same period of the artist and shows his or her influence.

Follower of: A work executed in the artist's style but not necessarily by a student, or anyone who worked directly with the artist.

Manner of: Made in the likeness or style of an artist, with a slight possibility that it was made by the artist or maker or by a follower or student of him or her.

Possibly: Being something that may or may not be true or actual. We do not guarantee it to be true.

School: Usually relates to a particular artistic or aesthetic movement. It can also relate to an actual school or to followers of a particular artist or maker.

Studio of / Workshop of: A work executed in the studio or workshop of the artist, possibly under his supervision. But someone other than the famous name actually created the work.

Style: After the time period in which the style originated, or a more recent reproduction. In artworks, sometimes used to refer to the style of a particular artist or artistic movement, generally made long after that time period.

Leonard Auction, Inc. and its consignor(s) make no warranty or representation, express or implied, that the purchaser will acquire any copyright or reproduction rights to any lot sold. Leonard Auction, Inc. expressly reserves the exclusive right to reproduce any image, description and information, including buyer details, of the lots sold in the catalog in any physical or digital manner for its sole benefit.

Registration

A prospective buyer must complete and sign a registration form and provide identification before bidding. At our discretion, we may require bank or other financial references. Leonard Auction, Inc. has the right, at our complete discretion, to refuse registration to the auction, to require any additional documentation, to refuse admission to the premises or participation in any auction and to reject any bid. All visitors to the premises must adhere to posted COVID protocols.

Auctioneer's Discretion

The auctioneer has the right at their absolute and sole discretion to refuse any bid, to advance the bidding in such a manner as he or she may decide, to withdraw any lot, and in the case of error or dispute, whether during or after the sale, to determine the successful bidder, to continue the bidding, to cancel the sale or to reoffer and resell the lot in dispute. If any dispute arises after the sale, the sale record of Leonard Auction, Inc. is conclusive and final.

Absentee Bids

We will use reasonable efforts to carry out absentee bids given to us at least 24 hours prior to the sale for the convenience of clients who are not present at the auction. Bids must be placed in U.S. dollars on the set increment table. Bids that do not conform to the increment table, will be rounded down to the next increment. If we receive absentee bids on a particular lot for identical amounts, and these are the highest bids on the lot at the auction, it will be sold to the bidder whose absentee bid was received and accepted first. Execution of absentee bids is a complimentary service undertaken subject to other commitments at the time of the sale and we do not accept liability for failing to execute an absentee bid or for errors and omissions in connection with the absentee bid. Leonard Auction, Inc. may act as a dual agent when accepting and executing absentee bids.

Telephone Bids

We will use reasonable efforts to carry out telephone bids given to us at least 24 hours prior to the sale for the convenience of clients who are not present at the auction. Bids must be placed in U.S. dollars on the set increment table. Telephone bids will not be accepted for those lots with a low estimate below $1,000. Execution of telephone bids is a complimentary service undertaken subject to other commitments at the time of the sale and we do not accept liability for failing to execute a telephone bid or for errors, omissions or technical issues in connection with the telephone bid. Leonard Auction, Inc. may act as a dual agent when accepting and executing telephone bids.

Online Bids

We will use reasonable efforts to carry out online bids. Execution of online bids is a complimentary service undertaken subject to other commitments at the time of the sale and we do not accept liability for failing to execute an online bid or for errors, omissions or technical issues in connection with the online bid. Online bids are provided by 3rd party providers who may have additional terms and conditions not under the control of Leonard Auction, Inc. Leonard Auction, Inc. may act as a dual agent when accepting and executing online bids.

Reserves

Some or all lots in the sale may be subject to a reserve which is the confidential minimum price below which such lot will not be sold. The reserve will not exceed the low estimate of the lot. The auctioneer may open the bidding on any lot below the reserve by placing a bid on behalf of the seller. The auctioneer may continue to bid on behalf of the seller up to the amount of the reserve, either by placing consecutive bids or by placing bids in response to other bidders.

Successful Bid

The highest bidder acknowledged by the auctioneer will be the purchaser. In the case of a tie bid, the winning bidder will be determined by the auctioneer at his or her sole discretion. In the event of a dispute between bidders, the auctioneer has final discretion to determine the successful bidder or to re-offer the lot in dispute. If any dispute arises after the sale, the Leonard Auction, Inc. sale record shall be conclusive. Title passes upon the fall of the auctioneer's hammer to the highest acknowledged bidder subject to the Terms of Sale set forth herein and the bidder assumes full risk and responsibility.

Buyer's Premium

In addition to the hammer price, the buyer agrees to pay Leonard Auction, Inc. a buyer's premium. The buyer's premium charged to all buyers is twenty-two (22) percent (%) of the hammer price. Leonard Auction will also collect an additional five (5) percent (%) buyer's premium for Online bids.

Sales Tax

Some or all lots in the sale may be subject to a state sales tax based on the item and location of the buyer. Buyer's may present a full copy of their valid State resale tax identification or exemption identification number, complete an Illinois CRT-61 form and have the invoice name match the certificate to waive sales tax.

Payment

The buyer must pay the entire amount due (including the hammer price, buyer's premium, all applicable taxes and other charges) no later than the seventh (7th) business day following the sale. Payment in U.S. dollars may be made with cash, wire transfer, bank check or cashier's check drawn on a U.S. bank; money order; Paypal (subject to a 3.75% convenience fee) or major credit / debit card (subject to a 3.75% convenience fee). Paypal, credit and debit card purchases are only permitted for United States based buyers with invoices totaling less than $5,000. Leonard Auction, Inc. reserves the right to change payment terms, request additional information or require a specific type of payment from any buyer. The buyer agrees to pay Leonard Auction, Inc. a handling charge of twenty-five ($25) for any dishonored check. Buyer credits issued by Leonard Auction, Inc. expire one-year from issue. Leonard Auction, Inc. reserves the right to hold merchandise prior to shipping or release at its discretion.

Non-Payment

If we do not receive payment in full, in good cleared funds, within seven (7) business days following the sale, we are entitled in our absolute discretion to exercise one or more of the following measures, in addition to any actions available to us by law:
a.) assess a 1.5% monthly interest fee for late payments
b.) to cancel the sale
c.) to resell the property publicly or privately with such terms as we find appropriate, to resell the property at public auction without reserve, and with the purchaser liable for any deficiency, cost, including handling charges, the expenses of both sales, our commission on both sales at our regular rate, all other charges due hereunder and incidental damages. In addition, a defaulting purchaser will be deemed to have granted us a security interest in, and we may retain as collateral security for such purchaser's obligations to us, any property in our possession owned by such purchaser. At our option, payment will not be deemed to have been made in full until we have collected funds represented by checks, or in the case of bank or cashier's checks, we have confirmed their authenticity.
d.) to offset against any amount owed
e.) to not allow any bids at any upcoming auction by or on behalf of the buyer
f.) to hold the defaulting buyer liable for the total amount due and to begin legal proceedings for its recovery together with interest, legal fees and costs to the fullest extent permitted under applicable law
g.) to take other action as we find necessary or appropriate

Collecting Purchases

Once Leonard Auction, Inc. has received all funds due to us, the buyer shall collect purchased lots from our location in Addison, Illinois within ten (10) business days from the date of the sale. All pick-ups, whether in-person or via third-party, must be scheduled by calling our office at 630-495-0229. Pick-ups must be scheduled and completed during normal business hours, Monday - Friday from 10:00am - 3:30pm (central time).
If property is not picked up within ten (10) business days following the sale, whether or not payment has been made, Leonard Auction, Inc. will assess a storage fee of $10 per lot, per business day. Leonard Auction, Inc. shall have no liability for any damage to property left on its premises for more than ten (10) business days following the sale. Property which is paid for, but left on our premises for any reason in excess of forty-five (45) business days will be considered abandoned and at the discretion of Leonard Auction, Inc. may be re-offered for sale. Any property re-offered for sale, will be charged a 50% selling commission and storage fees with the balance of any funds recovered being remitted to you.

Re-Offer Purchased Lots

Leonard Auction, Inc., at its discretion, may re-offer at a future auction a lot that was purchased at this auction provided the buyer has made payment in full, the lot or any portion thereof has not been removed from the auction house, and the lot sold for a hammer price of at least three-hundred dollars ($300). Buyer must sign an auction consignment agreement that includes a selling commission to utilize this service. Leonard Auction, Inc. is unable to offer this service for lots that sold for a hammer price below three-hundred dollars ($300).

Direct Shipping

If your bid is successful, Leonard Auction, Inc. will directly ship select lots as noted in the catalog. The buyer is responsible for all transportation fees, packaging, handling, insurance and confirmation fees. Packages shipped to multi-unit addresses or those valued at $200 or more require signature confirmation. Buyer is responsible for all customs fees, import taxes, VAT, duties and any other fee associated with the purchase. All customs forms completed by Leonard Auction, Inc. will reflect the accurate sales price including hammer price, buyer's premium and any other fees.

Third Party Shipping

If your bid is successful, some lots may require third party shipping. We will furnish a list of recommended shipping providers, however, Leonard Auction, Inc. is not responsible for the acts or omissions of shipping providers whether or not recommended by us. Property will not be released to any shipping provider until payment has been made in full, cleared the bank and a statement of release has been provided by the buyer.

LIABILITY

Purchased Lots

If for any reason a purchased lot cannot be delivered in the same condition as at the time of sale, or should any purchased lot be stolen, mis-delivered or lost prior to delivery, Leonard Auction, Inc. shall not be liable for any amount in excess of that paid by the purchaser.

Legal Ramifications

The rights and obligations of the parties with respect to these Terms of Sale, the conduct of the auction and any matters connected with any of the foregoing shall be governed and interpreted by the laws of DuPage County in Illinois. If any part of these Terms of Sale is found by any court to be invalid, illegal or unenforceable, that part shall be discounted and the rest of the conditions shall continue to be valid to the fullest extent permitted by law.

Discretion

Any and all of the conditions may be waived or modified at the sole discretion of Leonard Auction, Inc.