| Terms and Conditions |
Retail Sales:
Financing: We offer two types of financing, 90 days same as cash or 6 months.
Payment Options
All items returned to Tangible Investments LLC must be shipped by Registered Mail only. We offer a 14 day unconditional return policy on all retail transactions. Auction Terms & Conditions: 1.
This is a public auction sale conducted in California, by bonded
Auctioneers. The bonded Auctioneer is Tangible Investments LLC
(hereinafter referred to as Auctioneer and at times as Tangible). 2.
Bidding in this sale constitutes acceptance by you of all the Terms and
Conditions of Sale stated herein, (Bidder). Bidders include Consignors
who retain their lots pursuant to their consignment agreement with
Tangible. 3.
Tangible reserves the right to include in any auction sale its own
material as well as material from affiliated or related companies,
principals, officers or employees. Tangible may have direct or indirect
interests in these, or other items, and may collect commissions. THIS
PARAGRAPH SHALL BE DEEMED A PART OF THE DESCRIPTION OF ALL LOTS
CONTAINED IN THE CATALOGUE. 4.
Bidder acknowledges as follows: Grading is an art and not a science.
The grade and estimated value herein represents the opinion of Tangible
or its Consignor(s). It is possible that two people will not always
grade the same item alike. Also, as market conditions change, grading
standards change, and will most likely continue to do so in the future.
Each Bidder's own examination of the item(s) is the criterion and not
the grade represented by another. Every effort is made by Tangible to
determine provenance and authenticity. It is the Bidders
responsibility to arrive at a final conclusion prior to bidding. In any
purchase or sale, the value of the item(s) is determined by the price.
THE BIDDER HEREBY ASSUMES ALL RISKS OF VALUE CONCERNING ANY AND ALL
PURCHASES. 5.
Consignors or their agents are not permitted to bid on their own lots
in the sale. If any items are acquired in violation of a consignors
commitment not to bid or cause bids to be placed on their property, the
Consignor will pay Tangible the full Sellers Fee and Buyers
Commission. 6. Tangible may at its sole and absolute discretion, make loans or advances to Consignors and/or Bidders. 7.
Tangible may bid for its own account at any auction. Bidder
acknowledges and agrees that Tangible may not be required to pay a
Buyers Commission, or other charges that other Bidders may be required
to pay and may have access to information concerning the lot(s) that is
not otherwise available to the public. Any claimed conflict of interest
or claimed competitive advantage resulting therefrom is expressly
waived by all participants in the Sale. 8.
Lot(s) may carry a Reserve. A Reserve is a confidential price or bid
below which the Auctioneer will not sell an item or will re-purchase on
behalf of the Consignor or for Tangible. Estimates given are for the
general guidance of the bidder and represent the opinion of the
auctioneer as the fair market value of the numismatic item at the time
of cataloging, based on experience and comparable sale, if applicable.
The price realized may be higher, or lower than the estimate. If a lot
is reserved, the reserve may not exceed the maximum estimated price. 9.
The Auctioneer may open or accept the bidding on any lot by placing a
bid on behalf of the Consignor or his or her agent; a Bidder by mail,
telephone or telefax; or any other participant in the Sale. The
Auctioneer may accept or decline any bid, challenge to any bid or
bidding increment, as the Auctioneer in their sole discretion shall
determine. Bids must be for an entire lot and each lot constitutes a
separate sale. No lot will be broken up unless otherwise permitted by
the Auctioneer. Lots will be sold in their numbered sequence unless
Auctioneer directs otherwise. It
is unlawful and illegal for Bidders to collude, pool, or agree with
another Bidder to pay less than the fair value for lot(s). Bidders in
the Sale acknowledge that the law provides for substantial penalties in
the form of treble damages and attorneys fees and costs for those who
violate these provisions. 10.
All material shall be sold in separate lots to the highest Bidder as
determined by the Auctioneer. If any dispute arises, Auctioneer shall
have the right to rescind the acceptance of the bid and place the
lot(s) for Sale again. Auctioneers decision shall be final. For the
Mail Bidders protection, no unlimited or buy bids will be accepted. When
identical bids are received for a lot, preference is given to the first
bid received as determined by the Auctioneer. A mail bid will take
precedence over an identical floor bid; a Floor Bidder and Telephone
Bidder must bid higher than the highest mail bid to be awarded any lot.
Auctioneer reserves the right to refuse any bid, to reduce any mail bid
received, to open the bidding of a lot at any level deemed appropriate
by the Auctioneer and to determine the prevailing bid, at his sole
discretion. 11.
All persons seeking to bid must have a catalogue and register to bid at
the auction by completing a registration card or bid sheet. By
submitting a bid, the Bidder acknowledges receipt of the catalogue. The
Bidder further acknowledges that Bidder has read the Terms and
Conditions of Sale, the descriptions for the lot(s) on which they have
bid, and that they agree to adhere to these Terms and Conditions of
Sale. This agreement shall be deemed to have been made in California.
The Bidder acknowledges that the invoice describing a lot by number
incorporates the catalogue and Terms and Conditions of Sale. All
bids submitted on Tangible own website are absentee, not final bids. By
bidding on the Tangible website, the Bidder acknowledges that their
bidding results are preliminary until Tangible completes their live
auction and/or posts their prices realized. The Bidder may be the
highest online bidder, but still be outbid in the Tangible live
auction. Tangible may sell a lot below its reserve. If a lot does not
meet reserve online and then sells in a Tangible live auction, the sale
of the lot is considered final and the Bidder is obligated to pay for
said lot. 12.
A Buyers Commission of fifteen percent (15%) or nine dollars ($9),
whichever is greater on each individual lot will be added to all
purchases made by all Bidders in its live and online auctions. 13.
Unless otherwise agreed in writing, auction sales are strictly cash in
U.S. funds payable through a bank in the United States. On any cash
transaction or series of transactions exceeding $10,000, Treasury Form
8300 will be filed. Contact Tangible for wiring instructions before
sending a wire. Lots must be paid for the earlier of receipt of invoice
or delivery. Tangible reserves the right to decline to release lots for
which good funds have not yet been received. On any accounts past due,
Tangible reserves the right to extend credit and impose periodic
charges. Bidder agrees to pay reasonable attorneys fees and costs
incurred to collect on such past due accounts. 14.
Payment by credit card will be accepted up to $10,000 from non-dealers
only. We will not accept payment via credit card for any purchases over
$10,000. Bids will not be accepted from those persons under eighteen
(18) years of age without a parents written consent which acknowledges
the Terms and Conditions of Sale herein and agrees to be bound thereby
on behalf of the Bidder. 15.
Bidders personally and unconditionally guarantee payment that are or
become owed to Tangible. If a corporation is the Bidder, the corporate
representative present at the sale shall provide Tangible at the time
of registration with a statement signed by each principal, director and
officer that they each personally and unconditionally guarantee any and
all current or future obligations owed to Tangible. 16.
Bidders who have not established credit with Tangible must furnish
satisfactory credit references or deposit at least twenty-five percent
(25%) of their total bids for that Auction Sale session(s) or such
other amounts as Tangible may, in its sole and absolute discretion,
require before such bids will be accepted. Deposits submitted will be
applied to purchases. Any remaining deposits will be promptly refunded,
upon clearance of the funds. 17.
AUCTION SALES ARE NOT ON APPROVAL. No certified coins may be returned
because of possible differences of opinion with respect to the grade
offered by any third-party certification service. No guarantee of grade
or value is offered for uncertified Property sold and subsequently
submitted to a third-party grading service. There are absolutely no
exceptions to this policy. Under extremely limited circumstances, (e.g.
gross cataloging error) a successful bidder, who did not bid from the
floor, may request Auctioneer to evaluate the possibility of voiding a
sale; requests to evaluate possibly voiding and auction sale must be
made in writing detailing the alleged gross error, and submission of
the lot to the Auctioneer for evaluation must be pre-approved by the
Auctioneer; bidder must notify Tangible Investments LLC in writing of
the such request and such notice must be mailed within three (3) days
of the mail bidders receipt of the lot. Lots submitted for evaluation
must be in our offices within 30 days after Auction. Grading or method
of manufacture do not constitute grounds for evaluation, nor do such
complaints constitute a basis to challenge the authenticity of a lot.
AFTER THAT 30-DAY PERIOD, NO LOTS MAY BE RETURNED FOR REASONS OTHER
THAN AUTHENTICITY. Lots returned must remain intact in the original
holder. No lots purchased by floor Bidders may be returned (including
those Bidders acting as agents for others). Late payment for purchases
may be considered just cause to revoke all return privileges. 18.
All prospective Bidders who have had the opportunity to examine the
lot(s) prior to the Auction Sale, personally assume all responsibility
for any damage that Bidder causes while handling or examining lot(s).
Tangible shall have sole discretion in determining the value of the
damage caused, which shall be promptly paid by the prospective Bidder. 19.
TANGIBLE IS NOT RESPONSIBLE FOR ANY ERRORS IN BIDDING. A Bidder should
make certain to bid on the correct lot and that the bid is the maximum
plus the Buyers Commission that he or she is willing and able to pay .
Fifteen (15%) will be added to all successful bids in its auctions.
Once the hammer has fallen and the Auctioneer has announced the winning
Bidder, the Bidder is unconditionally bound to pay for the lot, even if
the Bidder has made a mistake. 20.
Tangible will not assume responsibility for the shipping and packaging
of certain larger items or items of a more fragile nature sold in this
sale as determined by Tangible. It is the Bidders responsibility to
contact Tangible after the sale to make shipping and packaging
arrangements. Due to the fragile nature of some lots, Tangible may be
forced to charge additional shipping and handling. Lots indicated as
being framed are shipped at the Bidders risk. 21.
DISCLAIMERS AND WARRANTIES: ALL ITEMS OFFERED IN THIS CATALOGUE ARE
GUARANTEED TO BE AUTHENTIC. THIS IS A LIMITED WARRANTY THAT THE ITEM
SOLD IS NOT COUNTERFEIT AND THAT ITS DATE OR MINTMARK HAS NOT BEEN
ALTERED. ANY OTHER WARRANTY IS EXPRESSLY DISCLAIMED; THERE IS NO
REPRESENTATION OR WARRANTY THAT A NUMISMATIC ITEM HAS OR HAS NOT BEEN
CLEANED; THAT ANY TONING IS NATURAL OR ARTIFICIAL; THAT ANY ITEM WILL
MEET THE STANDARDS OR GRADE OF ANY INDEPENDENT GRADING SERVICE; THAT
ANY ITEM HAS A PARTICULAR PROVENANCE OR PEDIGREE, OR THAT AN ITEM IS
STRUCK OR PRODUCED IN A PARTICULAR STYLE. ANY STATEMENT CONCERNING THIS
IS A MATTER OF OPINION ONLY. NO WARRANTY, WHETHER EXPRESSED OR IMPLIED,
INCLUDING A WARRANTY OF MERCHANTABILITY IS MADE WITH RESPECT TO ANY
GRADE DESCRIPTION WHICH IS ONLY AN OPINION THAT IS LIKELY TO DIFFER,
EVEN AMONG EXPERTS. PURCHASER HEREBY ASSUMES ALL RISKS CONCERNING AND
RELATED TO THE GRADING OF A LOT. a.
All sales of items (1) viewed by Bidders in advance of a sale, even if the sale is by mail or telefax; or (2) bid upon by Floor Bidders, Telephone Bidders and Bidders who present Tangible with a resale certificate, out of state resale certificate, or similar evidence in acting as a dealer; ARE FINAL AND MAY NOT BE RETURNED, WITH THE EXCEPTION OF ITEMS THAT ARE CATALOGED ERRONEOUSLY (i.e. TYPOGRAPHICAL ERRORS), OR DEEMED TO NOT BE AUTHENTIC. THE STANDARD 14-DAY RETAIL RETURN POLICY STATED BY TANGIBLE INVESTMENTS LLC IS VOID FOR ALL AUCTIONS. b.
Any and all claims that an item is not authentic, must be made in
writing to Tangible within five (5) calendar days after receipt of the
item. c.
. If an item or items are returned pursuant to the terms herein, they
must be housed in their original, sealed and unopened container. d.
Late remittance or removal of any item from its original container
constitutes just cause for revocation of all return privileges. e.
Grading or condition of rare coins may have a material effect on the
value of the item(s) purchased; and the opinion of others (including
independent grading services) may differ with the independent grading
services opinion or interpretation of Tangible. Tangible shall not be
bound by any prior, or subsequent opinion, determination or
certification by any independent grading service. f.
Questions regarding the minting of a coin as a proof or as a business
strike relate to the method of manufacture and not to authenticity. g.
All oral and written statements made by Tangible and its employees
(including affiliated and related companies) are statements of opinion
only, and are not warranties or representations of any kind, unless
stated as a specific written warranty, and no employee or agent of
Tangible has authority to vary or alter these Terms and Conditions of
Sale. Any alteration shall be effective only if in writing and signed
by an officer of Tangible authorized to do so. h. Bidders shall have no recourse against the Consignor for any reason whatsoever. i.
Notwithstanding anything to the contrary in these Terms and Conditions
of Sale, COINS LISTED IN THIS CATALOGUE GRADED BY PCGS, NGC OR ANACS
CACHET, OR ANY OTHER THIRD PARTY GRADING SERVICE MAY NOT BE RETURNED
FOR ANY REASON WHATSOEVER. 22.
Tangible reserves the right to withdraw any lot at any time, even after
the hammer has fallen, until the Bidder has taken physical possession
of the lot. No Bidder shall have a right to claim any consequential
damages if a lot is withdrawn, even after the auction sale. Auctioneer
will have the final discretion to determine the successful bidder,
cancel the sale, withdraw the item, or to reoffer and resell the
article during or in a future sale or return it to the consignor. If
any dispute arises after the sale, the Auctioneers decision is
conclusive. 23.
Taxes, postage, freight charges, if applicable, handling, insurance,
Buyers Commission, and any other fees required by law to be charged or
collected will be added to the invoice for any lot(s) that is invoiced
to successful Bidders. On any tax not paid by Bidder which should have
been paid, even if not collected by Tangible by mistake, error,
negligence or gross negligence, Bidder agrees to promptly pay the same
on demand together with any interest or penalty that may be assessed. 24.
Bidder grants to Tangible or its assigns the right to offset any sums
due, or found to be due to Tangible, and to make such offset from any
past, current, or future consignment; purchases that are in the
possession or control of Tangible; or from any sums due to Bidder by
Tangible. Bidder further grants Tangible a purchase money security
interest in such sums or items to the extent applicable. Bidder agrees
that Tangible and its assigns shall be a secured party with respect to
items bought by Bidder and in the possession of Tangible, to the extent
of the maximum indebtedness, plus all accrued expenses attorney fees
and costs, until the indebtedness is paid. Bidder grants Tangible the
right to file a UCC on such items without need for Bidders signature,
and to assign such interest to any affiliated or related company or any
third party deemed appropriate by Tangible. 25.
In the event a successful Bidder fails to make payment when due,
Tangible reserves the right to resell the lot(s) in a commercially
reasonable manner, which may include a private sale. Bidder agrees to
pay for the reasonable cost of such a sale, together with any
incidental costs of sale, including reasonable attorneys fees and
costs, cataloguing and any other reasonable charges. 26.
If the auction invoice is not paid for in full when due per invoice
terms, the unpaid balance will earn interest at the rate of
one-and-one-half percent (1-1/2%) per month until it is paid in full.
In the event this interest rate exceeds the interest permitted by law,
the same shall be adjusted to the maximum rate permitted by law. Bidder
agrees to pay all reasonable attorneys fees, court costs and other
collection costs incurred by Tangible or any affiliated or related
company to collect past due invoices. Tangible reserves the right to
assign its interest to any third party. 27.
Bidder expressly consents to the following Waiver and Release: Bidder,
for himself, his heirs, agents, successors and assigns, generally and
specifically waives and releases, and forever discharges Tangible, and
its respective affiliates, parents, shareholders, agents, subsidiaries,
employees, members of their respective boards of directors, and each of
them, and their respective successors and assigns from any and all
claims, rights, demands and causes of action and suits, of whatever
kind or nature, whether in law or equity, whether known or unknown,
suspected or unsuspected, which Bidder may claim to have with respect
to and/or arising out of, or in connection with any challenge to the
title to any goods purchased, the sale itself, and/or the auction,
except where such reimbursement is otherwise authorized in these Terms
and Conditions of Sale. It
is the intention of Bidder that this waiver and release shall be
effective as a bar to each and every claim, demand, cause of action and
suit that may arise hereunder, and Purchaser hereby knowingly and
voluntarily waives any and all rights and benefits otherwise conferred
upon him by the provisions of Section 1542 of the California Civil
Code, which reads in full as follows: A
GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT
KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE
RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS
SETTLEMENT WITH THE DEBTOR. 28.
Title to any lot remains with Consignor, any secured party of the
Consignor, or Consignors assigns, as the case may be, until the lot is
paid for in full by Bidder. Tangible reserves the right to require
payment in full before delivering any lot to the successful Bidder. 29.
It is the Bidders responsibility and obligation to have the lots fully
insured while in his or her possession. Bidder assumes any and all RISK
OF LOSS while the lot(s) is in Bidders possession. 30.
If a dispute arises concerning ownership of a lot that has been bid
upon, Tangible reserves the right to commence a statutory interpleader
proceeding at the expense of the Consignor and successful Bidder and
any other applicable party, and in such event shall be entitled to its
reasonable attorneys fees and costs. 31. All photographs in this catalogue are of the actual items being sold but may not be the actual size or to scale. 32.
Tangible reserves the right to postpone the auction sale or any session
thereof for a reasonable period of time for any reason whatsoever. No
Bidder shall have any claim as a result thereof, including incidental
or consequential damages. 33.
Neither Tangible nor any affiliated or related company shall be
responsible for incidental or consequential damages arising out of any
failure of the Terms and Conditions of Sale, the auction or the conduct
thereof and in no event shall liability for any such failure exceed the
purchase price, premium, or fees paid. 34.
Rights granted to Bidders under the within Terms of Conditions of Sale
are personal and apply only to the Bidder who initially purchases the
lot(s) from Tangible. The rights may not be assigned or transferred to
any other person or entity, whether by sale of the lot(s), operation of
law or otherwise. Any attempt to assign or transfer any such rights
shall be absolutely void and unenforceable. No third party may rely on
any benefit or right conferred by these Terms and Conditions of Sale. 35.
If the Bidder fails to comply with one or more of these Terms and
Conditions of Sale, then, in addition to all other remedies which it
may have at law or in equity, Tangible may at its sole option, either
(a) cancel the sale, retaining all payments made by Bidder as
liquidated damages, it being recognized that actual damages may be
speculative or difficult to compute, or (b) sell a portion or all of
the lot(s) held by Tangible, in a quantity sufficient in the opinion of
Tangible to satisfy the indebtedness, plus all accrued charges. More
than one such sale may take place at the option of Tangible. Notice of
the sale shall be by U.S.P.S. Certified Mail, Return Receipt Requested
to the address utilized on the Bid Sheet, Auction Consignment and
Security Agreement or other last known address by Tangible. Such sale
will be at Tangibles standard commission rates at public or private
sale. The proceeds shall be applied first to the satisfaction of any
damages occasioned by Bidders breach, then to any other indebtedness
owed to Tangible, including without limitation, commissions, handling
charges, the expenses of both sales, reasonable attorneys fees, costs,
collection agency fees and costs and any other costs or expenses
incurred. Bidder is also liable to Tangible if the proceeds of such
sale or sales is insufficient to cover the indebtedness. 36.
These Terms and Conditions of Sale and the auction shall be construed
and enforced in accordance with, and governed by, the laws of the State
of California, regardless of the location of the Auction Sale. Bidder
acknowledges and agrees that the competent courts of the State of
California shall have exclusive jurisdiction over any dispute(s)
arising hereunder, and Bidder hereby agrees that any dispute arising
hereunder shall be litigated exclusively in the courts of the State of
California, regardless of any partys current or future residence or
domicile. Bidder further agrees that venue shall be in the Tangible
Court for Orange County, in the State of California. 37. If any section of these Terms and Conditions of Sale or any term or provision of any section is held to be invalid, void, or unenforceable by any court of competent jurisdiction, the remaining sections or terms and provisions of a section shall continue in full force and effect without being impaired or invalidated in any way. |
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