The James T. Parker Art Trust

TERMS OF SALE

Each lot in a BLACK ART AUCTION and/or catalog is subject to the following terms and conditions of sale, as supplemented in writing or otherwise by us at any time prior to the sale. By registering to bid, bidding, or purchasing in any way a lot from BLACK ART AUCTION, the client agrees to be bound by these terms.



SUMMARY (Detailed terms below)



Your bid is legally binding.
By bidding in any sale you are bound to all terms as outlined below.
A ?Buyer?s Premium? will be added to the final hammer price of each lot.
you are guaranteed the lowest Buyer?s Premium by bidding directly on our site or mobile app.
bidding may also be available on 3rd party sites (Invaluable, LiveAuctioneers, etc) but will include a higher Buyer?s Premium
Winning Bidder is responsible for arranging shipping and all shipping charges.
We will happily work with any shipper you choose and will also provide winning bidders with a list of 3rd party shippers we have worked successfully with in the past.
3rd party shippers shall provide pick-up from our facility, boxing/crating and insured delivery.


Auction



The auction is open to the public and there is no admission fee or obligation to bid. The auctioneer will introduce each object for sale, hereby referred to as ?lots?, in numerical order as listed in the corresponding catalog or website.



The estimates that appear with each lot description are approximations reflecting the range in which the hammer price may fall. Some lots are subject to a reserve, the price below which an item cannot be sold. In most instances, the reserve is less than the low estimate.

The auctioneer determines the highest bidder and selling price of every lot. He or she may re-offer and resell any lot, and will be responsible for resolving any dispute in bidding. The judgment of the auctioneer is final and binding.



Bidding



To bid in any sale, a client must register with BLACK ART AUCTION prior to or at the sale. To register, BLACK ART AUCTION requests that the client provide a form of photo identification, such as a state-issued driver?s license, passport, or government-issued identification. If this is the client?s first time bidding, BLACK ART AUCTION reserves the right to require bank references or a credit card. All clients, established or new, will be asked to provide client?s most up to date contact information. If bidding on behalf of another, BLACK ART AUCTION requires authorization of the absent client, and identification from both parties.



A client unable to attend the sale may bid via phone, absentee, or online. Please complete and submit an absentee or telephone bid form as included in the catalog, on our website, or at the auction house. BLACK ART AUCTION assumes no responsibility for a failure to execute any bid or errors or omissions made in connection with any remote bidding arrangement.



During phone bidding, an agent representing BLACK ART AUCTION will call the client during the live sale to execute bids on client?s behalf. The client should instruct BLACK ART AUCTION?s agent to bid as they choose. Please make arrangements for phone bidding as early as possible as there are a limited number of phone lines available. BLACK ART AUCTION does not guarantee an available phone line if arrangements are made after 5:00pm EST on the day prior to a sale. Please note that phone bidding is reserved for items estimated at $500 or greater.



Clients may leave absentee bids to be executed by one of our representatives. BLACK ART AUCTION makes every effort to purchase a lot as inexpensively as possible without exceeding the client?s limit. It?s recommended that clients submit absentee bids as early as possible in the correct increments as shown below. Should identical absentee bids from separate clients come in, the first one received will be honored. Please submit absentee bids prior to 5:00pm EST on the day prior to the sale.



Internet bidding is available through online platforms. BLACK ART AUCTION is not responsible for errors or omissions when client utilizes said platform. Please note: Lots purchased via an online platform such as LiveAuctioneers may incur a higher buyer?s premium.



Auction increments are as follows:


$0-500 $25 increments
$500-1,000 $50 increments
$1,000-3,000 $100 increments
$3,000-5,000 $250 increments
$5,000-10,000 $500 increments
$10,000-30,000 $1,000 increments
$30,000-50,000 $2,500 increments
$50,000-100,000 $5,000 increments
$100,000+ $10,000 increments



Additional increments will be at the auctioneer?s discretion.



On the fall of the auctioneer's hammer, title to the offered lot or article will pass to the highest acknowledged bidder, who thereupon immediately assumes full risk and responsibility of said lot.



BLACK ART AUCTION reserves the absolute right (a) to withdraw any property at any time before its actual final sale, including during the bidding, and (b) to refuse any bid from any bidder. The auctioneer is the sole judge as to the amount to be advanced by each succeeding bid.



CONDITION REPORTS, GUARANTEE & PREVIEW



It is the client?s responsibility to be aware of all conditions, addendums, and corrections prior to the sale. Notices amending the catalog description of a lot after the catalog has gone to press are available at the auction house and are announced by the auctioneer at the start of the sale.



Auction items are available for viewing during the week prior to the auction during hours of operation or by appointment. BLACK ART AUCTION encourages all clients or knowledgeable representatives to visit and inspect all lots during this viewing period. If an in-person inspection is not possible, we encourage clients to contact us with condition report requests well in advance of the sale. BLACK ART AUCTION will provide our opinion of condition, answer any questions, and provide additional photographs per the client?s request. Any such opinion is not a statement of fact, but is given to the best of our knowledge.



BLACK ART AUCTION guarantees the authenticity of that portion of the description of each lot as set out in bold type in the catalog, as amended by oral or written salesroom notes or announcements. This guarantee is in effect for 30 days after the auction in which the lot was sold. Said guarantee does not apply to those lots listed as: ?in the style of?, ?attributed to?, ?the school of?, ?in the manner of?, or ?after?.



BLACK ART AUCTION is not responsible for errors or omissions in the catalog or in written or oral condition reports. All measurements are approximate. BLACK ART AUCTION makes every effort to accurately describe its merchandise, but in the event that errors occur, BLACK ART AUCTION shall not be held responsible. It is the client?s responsibility to be well informed before bidding. Bidding in our sale indicates your acceptance of these terms and any terms announced the day of the sale.



Buyer's Only Remedy For Authorship Warranty Breach



The buyer's sole remedy, and BLACK ART AUCTION's sole liability, under this warranty shall be the cancellation of the sale of the Lot in question, or (if the sale has already concluded) the refund of the purchase price originally paid by such buyer for the Lot in question (not including any late fees, taxes, shipping, storage or other amounts paid to BLACK ART AUCTION in accordance with these Terms). Buyer hereby waives any and all other remedies at law or equity with respect to breaches of this warranty.



Paintings, Drawings, Prints and Bronzes:



Objects are guaranteed to be an authentic work by the artist listed. Any and all information listed in the catalog not printed in bold type should be considered as being to the best of our knowledge, is merely our opinion, and is not guaranteed to be correct. If the authenticity of a purchased object is contested, it must be made known to us within 30 days of the sale in which the object was purchased as follows: a written letter from a noted authority provided to us that declares the object to be executed by someone other than the artist listed. This authority may not have any vested interest in the artist?s work or the estate of the artist. The object must be returned to us in the same condition in which it was purchased. If it is determined that a piece is not authentic, only the purchase price may be refunded; there will be no compensation for damages, loss of profit, professional fees, transportation or any other costs. The normal darkening of varnish over time isn?t considered to be problematic, and accordingly any such darkening will not be noted in the description.



Fine Art Frames, Picture/Photo Frames:



Every effort is made to protect the frames included with these lots during pre-auction storage and post-auction shipping; however, BLACK ART AUCTION shall not be responsible for any damage to frames, and no refunds will be granted due to frame damage. Frames may not include original easel backing.



PURCHASING



By bidding in any sale, the client understands that their bid constitutes a legally binding agreement to purchase said lot if accepted by the auctioneer.



If your Bid is the winning bid at auction, you agree to pay the following charges associated with the purchase of such Lot:



Hammer Price
Buyer's Premium when bidding via our website or mobile app will be added to the winning bid as follows: which is
25% of the Hammer Price up to and including $100,000
20% of the portion of the Hammer Price in excess of $100,000 and up to and including $1,000,000
12% of the portion of the Hammer Price above $1,000,000
An additional premium may added to any successful bid accepted thru a third-party site (Invaluable, LiveAuctioneers, etc.)
All other ?Buyer?s Costs? - including any applicable sales tax, late payment charges, storage fees, Enforcement Costs or other costs, damages or charges assessed in accordance with these Terms. All purchases will be subject to state sales tax unless the buyer has provided us with a valid certificate of exemption from such tax.




PAYMENT



BLACK ART AUCTION accepts cash, check, American Express, Visa, and MasterCard for payment. If paying with cash or check, BLACK ART AUCTION may require verification of identity and confirmation of permanent address. If paying by credit card, an additional 3% convenience fee is payable on the total purchase price, which includes hammer price, buyer?s premium, tax if applicable, and shipping cost, if any.



Once payment has been received and cleared, lots purchased may be released to client.



If payment is not made within ten days after its due date, or if the client defaults and/or breaches his or her obligations, the client agrees to pay BLACK ART AUCTION all damages, attorney fees and expenses, together with interest at the highest rate allowed by law on the balance due. Client agrees that state and federal courts in Marion County, Indiana shall have exclusive jurisdiction over all matters arising out of client?s purchase from BLACK ART AUCTION and that service of process in any such proceeding shall be effective if mailed to client?s address last supplied to BLACK ART AUCTION.



STORAGE AND SHIPPING/DELIVERY



BLACK ART AUCTION may impose a storage fee of $5 per day per lot beginning after ten days from due date unless prior arrangements have been made. Client agrees that BLACK ART AUCTION shall have no liability for any damage to property left on premises after this ten-day period.



Buyer is solely responsible for collection of purchased Lots from BLACK ART AUCTION facilities, including making arrangements and paying all costs associated with packing and delivery. We may, as a courtesy to the buyer, provide or arrange packing, shipping or similar logistical services, or refer the buyer to third parties who specialize in these services. Any such services referred, provided or arranged by us are at the buyer's sole risk and expense, we assume no responsibility for any act or omission of any party in connection with any such service or reference, and we make no representations or warranties regarding such parties or their services. You expressly release BLACK ART AUCTION from any and all liability arising from your use of any third-party website or services.



Domestic and international shipping estimates may be obtained prior to a sale by providing our third party shippers with a shipping address and the lot(s) of interest. Requests should be submitted no less than three business days prior to the sale date.



Please contact BLACK ART AUCTION for a list of third party shippers.