Terms & Procedures Sept Auction

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Please Take Special Notice of the AUCTION BIDDING PROCEDURES and TERMS OF AUCTION as we have Significantly Changed the auction format. What Has Changed ? 1. Real Time Interactive Bidding We have added the capability of Real Time Interactive Bidding to our auction format. This service will be available on Ebay Live Auctions (www.ebayliveauctions.com). You will be able to
bid from your computer with Real Time Interactive bids. You will instantly know whether your bid is
high and you can immediately respond. Please call us for complete instructions. Actual Real Time
Interactive Bidding starts at 2:00PM, April 10th, 2008. 2. Requested Call Back Bids If you prefer to bid in Real Time by Phone rather than on Ebay Live Auctions, you may request that we call you when your lot is coming up for sale. In this process, you can bid in real time
against the field. That request must be received by April 9th, 2008, 6:00 PM. This is the DAY
BEFORE the auction closes. You will be called on April 10th, 2008, just before your lot is coming to
the floor. 3. Absentee Bidding We will continue to process all absentee bids received by Phone, Fax, or Email as we have in the past. However, all Absentee Bids must be received by April 9th, 2008, 6:00 PM. This is the DAY
BEFORE the auction closes. You can leave a maximum bid which will be competitively processed
against the other bidders. 4. Closing Time Each lot will be brought to the floor on April 10th, 2008, starting at 2:00PM. Each lot will be opened and closed consecutively. This eliminates the five minute rule. Why Have We Changed the Auction Format ? 1. Improved Client Service We have operated absentee style auctions since 1988. Our primary objective has always been to simulate a live auction feel. We believe that Real Time Interactive Bidding provides a real
time, live auction format from the comfort of your home or office. 2. Will these changes put our Existing Clients at a Disadvantage ? No. With the ability to (1) absentee bid by Phone, Fax, or Email, or (2) clients can request a Live Phone, or, (3) bid in real time interactively ... we believe our the existing existing clients have
more bidding flexibility. ALL ABSENTEE BIDS VIA PHONE, FAX, AND EMAIL MUST BE RECEIVED BY 6:00PM EASTERN, ON WEDNESDAY APRIL 9TH, 2008. REAL TIME BIDS VIA EBAY LIVE AUCTIONS, AND REQUESTED LIVE PHONE LINES START 2:00PM EASTERN, ON THURSDAY APRIL 10TH, 2008. Auction Bidding Procedures 1. Registration: All bidders are required to register for the right to place bids. A Registration Form can be found within the catalog. If you have bid with us in the past, you are registered and need
only to call for your bidder number. Bidders using LiveAuctioneers, eBay Live Auctions, must
register through their websites, at www.liveauctioneers.com or, www.ebayliveauctions.com, respec-
tively. 2. Bidding: Absentee Bids: We will accept Phone, Fax, Email bids on all lots until April 9th at 6:00 PM, eastern time, the DAY BEFORE the AUCTION. You may place maximum bids. All bids are
handled as competitive bids. This means that if your bid is the highest received,you will be billed
only one increment above your under bidder. In the event we receive tie maximum bids, the earli-
est received will be the winning bid. Real Time Bids: The auction will start April 10th, 2008 at 2:00PM, eastern time, on AUCTION DAY. The lots will be auctioned by consecutive lot number. Real Time bids can be made
at eBay Live Auctions (www.ebayliveauctions.com) Requested Call Back Bids: At the discretion of the auctioneer, Real Time Phone Bidding may be arranged on any lot with a minimum value of $500.00. To make arrangements to bid on the
telephone at the time a lot is being sold, you must contact our office by April 9th at 6:00 pm. We
will arrange to call you just prior to the lot being sold, on April 10th, 2008. You may then bid in
real time over the telephone. There are usually a limited number of phone lines available in the room,
so if you wish to bid over the telephone, it is important for you to make your arrangements early.
Please note that you will not be able to call our office on April 10th, 2008. 3. Bidding Increments: Bids will be advanced in the following increments; Increment Lot Value $10 increments on lots between $50-$200 $25 increments on lots between $200-$500 $50 increments on lots between $500-$1000 $100 increments on lots between $1000-$2500 $250 increments on lots between $2500-$10,000 $500 increments on lots between $10,000-$20,000 $1000 increments on lots over $20,000 4. Split Increments: The auctioneer reserves the right to split increments at his discretion. Please Read Our Terms and Procedures As They Have Significantly Changed Terms of Auction Sale 1. Bidding Contract: By placing a bid, you are accepting all Terms of Auction Sale as defined below. You are also creating an irrevocable contract (as defined by the statues of North
Carolina) to purchase the item at the price you bid plus buyers premium and packing/shipping/
insurance charges. Additionally, you agree that in the event that Raynors Historical Collectible
Auction is forced to bring a law suit to satisfy payment of your invoice, and Raynors Historical
Collectible Auction prevails, you will pay all Historical Collectible Auctions legal
fees associated with that law suit. 2. Bidders Premium (2A). ABSENTEE BIDS received by Phone, Fax, or Email Buyers Premium: For those bids received by phone, fax, or direct email there is a 17.5% Buyers Premium charged on the
final hammer price. (2B). REAL TIME BIDS received through LiveAuctioneers, eBay Live Auctions, Buyers Premium: For those bids received by through LiveAuctioneers or through eBay
Live Auctions there is a 22.5% Buyers Premium charged on the final hammer price. 3. Estimated Value: Estimated prices are only a guide to value. All items open at 50% of the low estimated value or $100 whichever is greater. Please bid accordingly. 4. Bid Rejection: The auctioneer reserves the absolute right to reject any bid for any reason.
5. Item Withdrawn: The auctioneer reserves the absolute right to withdraw any item for any reason. 6. Reserves: Some lots carry a reserve.
7. Item Description and Photography: We make an honest effort to correctly describe and image the property to be sold. Our descriptions are accurate. However, you may preview the item at
our offices prior to the auction. If this is not possible, we will FederalExpress item(s) to known
clients for preview at their expense. Some illustrations have size modifications to aid in catalog
layout. This auction is also available in paper catalog format. Paper catalogs are available for $15.00. 8. Authentication Guarantee: All material is guaranteed to be genuine unless otherwise described. If you believe an item has been improperly described and that description error is mate-
rial to the value of the item, you may return it for full refund IF (a) you call for return authorization in advance of returning the item (b) you return the item within three days of your receipt and
within 21 days of the auction close date.If you pay late and thus, receive your items late, it does not
qualify for special privileges. The guarantee is null and void 21 days after the auction. It is your
responsibility to pay for and acquire your purchases in a timely fashion. So if there is a major dis-
crepancy, you have time to notify our office. Please remember that if you call us 22 days after the
auction, there is nothing we can do about a major discrepancy except apologize to you. (c) you return
the item in the same condition as it was sent to you. After 21 days of the auction close date, all items
are sold on an as is basis and cannot be returned to for any reason. 9. Billing/Payment: Paper invoices will be mailed within (3) three days of auction close date. Full payment is expected within 14 days of auction close. 10. Shipping: All shipping is made through Federal Express to street addresses only. The packing/shipping/insurance charge is calculated using actual Federal Express charges with a mini-
mum of $15.00. All framed items have a minimum packing/shipping/insurance charge of $20.00

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