1. ALL PROPERTY IS SOLD SUBJECT TO
THIS ADVICE, THE CONDITIONS OF SALE,
AND TERMS OF WARRANTY PRINTED IN
2. INSPECTION OF PROPERTY. Prospective
bidders or their agents should inspect property prior
to the auction. Swann staff are available to advise
prospective bidders at all pre-sale exhibitions and by
3. BUYER’S PREMIUM. The purchase price
payable on any lot purchased will be the total of the
final bid plus the Buyer's Premium as defined in para-
graph 7 of the Conditions of Sale, plus all applicable
4. SALES TAX. All items purchased are subject to
payment of the NewYork City and State sales tax of
8.875% on the total purchase price (final bid plus the
Buyer's Premium as defined in paragraph 7 of the
Conditions of Sale) unless the purchaser presents
proof of exemption therefrom. An exempt purchaser
must provide a properly completed New York State
Resale Certificate (Form ST-120) evidencing posses-
sion of a valid NewYork State Resale or, for non-New
York State businesses, the equivalent resale authoriza-
tion from another locale. Purchases will not be
released unless all sales tax requirements are satisfied.
Purchases shipped outside of NewYork State are not
subject to sales tax.
5. BIDDING INCREMENTS. $10 up to $150; then
$25 to $500; $50 to $1,000; $100 to $2,000; $200 to
$6,000; $500 to $10,000; $1,000 to $20,000; $2,000 to
$50,000; and approximately 10% of the current bid
thereafter. However, the auctioneer may modify the
increments at any time.
6. RESERVES. All lots are subject to a reserve,
which is the confidential minimum price agreed to
with the seller below which the lot will not be sold.
The reserve will never be higher than the low pre-sale
estimate, and will never be lower than half the low
estimate. Swann may implement such reserve by
opening the bidding on behalf of the seller and may
bid up to the amount of the reserve by placing succes-
sive or consecutive bids for a lot in response to other
7. ESTIMATES. The estimates provided are intend-
ed as a guide to bidding. The figures are educated
guesses, based on recent values. A bid between the
listed figures would, in our opinion, have a chance of
success (at the time the catalogue was prepared). The
estimates are exclusive of the buyer's premium, and
may be revised at any time prior to the auction.
8. BIDDING. All persons attending the auction
must obtain a bidding number prior to bidding. If
bids cannot be made in person or by an agent, they
may be made by mail, fax, e-mail, or telephone and
such bids will be executed without charge.
9. ABSENTEE BIDS will be executed by Swann on
the bidder's behalf in competition with other absentee
bids and bidding in the room. Every effort will be
made to carry out the bidder's instructions, but Swann
shall in no event be responsible for failing correctly to
carry out instructions, and Swann reserves the right to
decline to undertake such bids. Bids by mail should be
made in U.S. dollars on the bid sheet found at the end
of the catalogue and in accordance with the instruc-
tions on the bid sheet.
10. REMOVAL OF PROPERTY. All lots purchased
shall be removed at the purchaser's risk and expense by
the end of the fifth business day following the sale.
Purchases not so removed will be treated as set forth in
paragraph 9 of the Conditions of Sale.
11. SHIPMENT. Upon request, Swann will facilitate
the shipping of purchases to out-of-town buyers at an
additional charge for packing, postage and insurance,
but will not be responsible for any loss, damage or
delay resulting from the packing, handling and ship-
ping thereof. Unless specific instructions are received,
Swann is the sole judge of the method to be used for
12. PRICES REALIZED. A list of prices realized is
published on our websitewww.swanngalleries.com
the conclusion of the sale. The Prices Realized is also
available at Swann and will be mailed upon request.
13. CREDIT. Bidders whose credit is unknown to
Swann should submit acceptable credit references or
make prior arrangements for payment, failing which
purchases will not be released until funds have cleared.
Mail bidders should submit references or a deposit of
25% of their maximum bid. If successful, the deposit
will be applied to the purchase; if unsuccessful, the
deposit will be returned.
14. LOTS NOT RETURNABLE. Paragraph 3 of
the Limited Warranty describes lots which are sold as
is and not returnable. Books, manuscripts, prints,
drawings, photographs, signatures, or any other prop-
erty offered in a lot comprising more than 3 items,
whether or not such items are individually named,
constitute “Grouped Lots.” Such “Grouped Lots” are
not subject to return for any reason.
ADVICETO PROSPECTIVE BIDDERS