The auctioneer is Legacy Sports Rarities, Inc. (LSR) located in Traverse City, Michigan.
Please read these terms and conditions very carefully before bidding. If you have any questions, please call us at 231-922-8037. If you place a bid in this auction, you acknowledge acceptance of and agree to all the terms and conditions listed herein.
AUCTION DATES AND CLOSING TIME:
All items will be sold in lots. All bids will be in U.S. Dollars. This auction opens for bidding at 12:00 pm EST on July 31st, 2010. On the final day of the auction, August 21st, 2010, initial bids must be entered by 11:00 pm EST. During the final phase of the auction, starting at 11:00 pm EST, the auction will close lot by lot on a 30 minute closing timer. This means that at 11:30 pm EST, any lot that has had no bidding activity during the prior 30 minutes will be closed. After 11:00 pm EST, each additional bid on a lot will reset and extend bidding for 30 minutes on that lot only. In the final phase, only bidders who have previously entered at least one timely bid on a lot, including those that were outbid by a ceiling bid, are eligible to enter new bids on that lot.
BIDDER REGISTRATION:
Only registered bidders may bid in the auction. All bidders are required to be registered prior to August 20th, 2010. If you are an existing LSR customer, you are already pre-registered. Please call us at 231-922-8037 to confirm your bidding status. If you are not already registered, it can be done by telephone, or by visiting our website at www.legacyrarities.com. Existing customers and bidders must use their existing Bidder ID and Password. If you’ve forgotten your Bidder ID or Password, you can either call us for it, or you can go to the bidder registration link on our website and follow the procedure for retrieving your Bidder ID or Password.
As part of registration, new bidders must provide satisfactory credit references including at least two sports collectibles-related business references. If the bidder is other than a natural person (e.g. a corporation, limited liability company or other entity), the person registering the bidder personally guarantees performance and payment by the registered bidder.
ELIGIBLE BIDDERS AND BIDS:
All bidders must be approved by LSR. LSR reserves the right to exclude any person or entity from bidding in this auction if LSR deems, in its sole discretion, that a person’s participation might be detrimental to the auction. Additionally, LSR reserves the right not to honor or to limit a particular bid for any reason in its sole discretion.
LOT INFORMATION:
All pictures are of the actual lot offered. All bidders are encouraged to call us at 231-922-8037 if they would like additional information on any lot. Whenever possible, we’re happy to email enlarged scans of any lot.
POPULATION FIGURES/SMR VALUES:
The population figures provided in this catalog for items that have been graded by an independent service are as of the time of the cataloging. These figures change as new specimens are graded. Bidders should check with the independent service for current population figures. The SMR values listed are as of the time of cataloging. These figures can change on a monthly basis. Bidders should check for current SMR values.
VIEWING LOTS IN PERSON:
All lots and items are available to be viewed in person in our Traverse City office. Viewing is by appointment only between August 2nd, 2010 and August 20th, 2010. Please call us at 231-922-8037 for an appointment.
BIDDING INFORMATION:
How to Bid:
Internet: Bids may be placed via the internet at the Legacy Sports Rarities website, www.legacyrarities.com. Just go to the website and click “Enter Auction.” See the dates and closing time information above.
Mail: Bids may be sent in by mail. Please send to: Legacy Sports Rarities, Inc., PO Box 6047, Traverse City MI 49696. Mail bids must be received by LSR prior to August 21st, 2010.
Telephone: Bids may be placed via the telephone. Please call 231-922-8037. Please be aware that during the final day of the auction other bidders may be calling and it may be difficult to get through. Be prepared to give your name, Bidder ID, and Password. Telephonic bids will be confirmed via our website as soon as practical.
Please note: You must timely register to bid using any of the above methods to bid in this auction.
Bid Accuracy: Bidders are responsible for accurately executing their bids. Once a bid has been placed by any method, it cannot be retracted. If you have any questions about the bidding process, please call us prior to executing a bid. LSR shall not be responsible for any bidding errors.
Starting Bids: All lots have a listed starting bid. This is a “No Reserve” auction, and once a starting bid has been placed, the lot will be sold.
Bidding Increments: You may only bid in the increments as set forth below based upon the lot’s or item’s last bid.
Last Bid Bidding Increment
$0 - $500 = $25
$501 - $1,000 = $50
$1,001 - $5,000 = $100
$5,001 - $10,000 = $200
$10,001 - $25,000 = $500
$25,001 - $50,000 = $1000
$50,001 - and up = $2000
Ceiling Bids: “Ceiling” bids may be placed on any lot(s). Ceiling bids must conform to the proper bidding increment based on a lot’s high bid at the time a ceiling bid is placed. Ceiling bids placed through LSR’s website are confidential. The LSR web-based auction system has a security block on all ceiling bids, and they are visible only to their respective bidder.
Bidding Extensions: If for any reason the auction is interrupted during the final two days of the auction, including internet service difficulties, LSR may extend the bidding period in its sole discretion. If a bidder experiences any problems placing a bid through our internet website, www.legacyrarities.com, they should call us at 231-922-8037.
Right to Withdraw: LSR reserves the right to withdraw any lot or item at any time.
Bids by Consignors on Consigned Lots: Bids will not be accepted by consignors on lots that they have consigned.
Commissions: LSR may extend preferred commission rates, including negative selling fees, to certain consignors.
Cash Advances / Financing: LSR may extend cash advances or loans to consignors and financing and/or trade-in terms to bidders.
Ownership of Lots: This auction features lots owned by outside consignors and LSR (as well as associated and related parties).
Post-Auction Sales: If unsold lots are sold after the close of the auction, they will be considered to have been sold during the auction and all terms and conditions of the auction will apply.
WINNING BIDDERS:
Results and Notifications: Final auction results will be available on our website, www.legacyrarities.com, as soon as is practical after the last lot in the auction closes. Winning bidders will receive notification and invoices via email and a printed copy via US Mail.
Buyer’s Premium: A Buyer’s Premium equal to 20% of the sale price shall added to all winning bids. For example: if you won a lot with a high bid of $1000, you will be billed $1200.
Payment: All sums owing LSR will be paid with U.S. dollars. Invoice payments are due, in full, within 14 days of the closing date of the auction, irrespective of when the invoice is sent or received. Accepted forms of payment are: personal checks, bank drafts, and money orders. Credit cards are not accepted. Payments should be sent to: Legacy Sports Rarities, PO Box 6047, Traverse City MI 49696. Please call 231-922-8037. LSR may withhold shipment of lots until funds have been received by LSR’s bank and cleared the banking process.
Late Payment: LSR shall also be entitled to charge late fees equal to 1.5% per month (or the highest rate permitted by law if less than 1.5% per month) on any invoice not paid when due. Additionally, the bidder shall also reimburse LSR any costs and expenses incurred by it, including actual attorney fees to collect monies due. Bidder grants LSR a security interest in all items purchased to secure any outstanding indebtedness to LSR (whether from purchase of the items themselves or other items), and agrees that LSR may file any financing statement required under the Uniform Commercial Code. Bidder agrees that LSR may exercise all the rights of a secured party under the Uniform Commercial Code, including the right to re-sell the collateral item(s) and apply the proceeds to Bidder’s indebtedness and to reimburse LSR for costs related to the resale.
Insurance and Shipping or Postage: Winning bidders agree to pay an additional fee for insurance (equal to the winning bid amount plus the buyer’s premium) and shipping or postage charges on all lots. This fee will be added to the winning bidder’s final auction invoice. For winning bidders outside of the United States, the full value of the package (winning bids plus buyer’s premium) will be declared on all customs forms. There are no exceptions to this rule.
Taxes: Lots or Items delivered in the State of Michigan are subject to 6% Michigan Sales Tax, unless a valid resale certificate is provided prior to delivery. Bidders agree that they are responsible for all sales, use, and other taxes applicable to their purchase, and for any interest or penalty related to unpaid tax, regardless of whether LSR collected such taxes at the time of the purchase. Bidders agree to indemnify and hold harmless LSR from any such taxes or liabilities.
Risk of Loss: The risk of loss on all items purchased passes to the bidder upon shipment.
Right to Rescind Sale: In addition to any other remedy, LSR reserves the right to rescind a sale at any time in the event of non-payment or untimely payment, disputed ownership, questions of authenticity, clerical or mechanical errors, or omission in the exercising of a bid or a reserve. A Bidder’s mistake or error shall not result in the rescission of a sale.
ADDITIONAL TERMS AND CONDITIONS:
Return Policy: This auction is not an approval sale. All purchases of any lots or items are “AS IS” and all sales are final. No returns shall be permitted.
No Representations and Warranties: Any bidder has a right to personally view and inspect the lots and items offered in this sale in advance. The specific attributes of particular items may have a material impact on their value. Bidders assume all risk thereof. No employee or agent of LSR is authorized to make any representations or warranties regarding the characteristics of items sold by LSR or the correctness of descriptions or information. Any description or information made or given by anyone at LSR as to any aspect of the auction or any lot or item in the sale, including but not limited to grade, quality, designation, variety, rarity, provenance, population, historical relevance, value or potential profit or loss related to your purchase of a lot or item are opinions or qualified statements and not representations or warranties upon which a bidder can rely. Some items or lots are graded. LSR relies on the opinions of leading certification or grading services, and supplies information relating to certified or graded items only for the convenience of bidders. For items that are not certified or graded by an independent service, LSR makes no representation as to whether or not any independent grading service will certify the item or its grade. Bidders should thoroughly investigate any lot or item in which they have an interest. LSR MAKES NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE MERCHANTABILITY, FITNESS OR CONDITION OF ANY LOTS AND ITEMS BEING SOLD. FURTHER LSR’S LIABILITY TO BIDDERS IN CONNECTION WITH ANY CLAIM ARISING FROM THE SALE OR PURCHASE OF AN ITEM IN AN LSR AUCTION IS LIMITED TO REIMBURSING THE BIDDER FOR THE SUMS ACTUALLY PAID TO LSR FOR THE LOT OR ITEMS, AND LSR SHALL NOT HAVE ANY LIABILITY FOR COMPENSATORY, INCIDENTAL, OR CONSEQUENTIAL DAMAGES ARISING FROM A PURCHASE OF ANY ITEM AT AN LSR AUCTION.
Typographical and Cataloguing Errors: Typographical and cataloguing errors do occur from time to time. Whenever an error has been made that materially affects the value of the item(s) involved, the Buyer’s sole remedy shall be the rescission of the sale for only the item(s) affected by the error. LSR shall not be liable for any compensatory, incidental, or consequential damages arising from Buyer’s purchase of item(s) involved.
Grading: Grading of sports collectibles is subjective, and standards change from time to time. For item(s) in this auction that have been certified/graded by a third-party service, LSR DOES NOT warranty or guarantee any of the following: that any item certified/graded by one third-party service will be certified or graded by a different third-party service; that any item certified/graded by one third-party service was not previously graded at a lower level by either that third-party service, or a different third-party service; that any item certified/graded by one third-party service was not previously submitted to, and did not obtain certification, from either that third-party service, or a different third-party service.
For item(s) in this auction that have not been certified/graded by a third-party service, LSR DOES NOT warranty or guarantee that if submitted to a third-party service, item(s) will achieve the grade we’ve assigned to the item(s), or that item(s) will obtain certification.
Title: LSR obtains and relies on representations and warranties from its consignors that the consignors own the items consigned and are legally entitled to sell those items. LSR MAKES NO REPRESENTATION OR WARRANTY OF TITLE FOR CONSGNED LOTS AND ITEMS. Bidders are encouraged to make their own investigations of title.
Release and Indemnity: Except for any failure of LSR to adhere to these terms and conditions, bidder hereby releases, discharges, and covenants not to sue LSR, its owners, officers, employees and agents (Releasees) from all liability, claims, demands, losses, or dam ages caused or alleged to be caused in whole or in part by any act or omission of the Releasees and further agree that if, despite this release and waiver of liabili ty, assumption of risk, and indemnity agreement, anyone on a bidder’s or consignor’s behalf, makes a claim against any of the Releasees, the bidder or consignor will indem nify and save and hold harmless each of the Releasees from any litigation expenses, attorney fees, loss, liability, damage, or cost which may incur as the result of such claim.
Michigan Law, Jurisdiction and Venue: These terms and conditions shall be construed and enforced in accordance with law of the State of Michigan (excluding choice of law rules). Bidders agree that the lots or items are located in Michigan, the auction is taking place in Michigan, that an agreement based upon these terms and conditions was made in Michigan, and that the courts of the State of Michigan have jurisdiction over the parties and any claims or controversy in any way related to the agreement, these terms and conditions and the auction and, further, that any claim or controversy arising out of or involving this agreement or the auction shall be brought in the appropriate court of the State of Michigan, located in Grand Traverse County, Michigan. The parties agree to waive any right to trial by jury in any such proceeding to the fullest extent allowed by law and that in the event LSR is the prevailing party in any proceeding, it shall be entitled to recovery of its actual attorney’s fees and costs incurred, whether or not such recovery is otherwise authorized by statue.
Binding Effect: By bidding in the sale all bidders acknowledge that they have read and understand these Terms and Conditions, that there are no written or oral agreements of any nature between the bidder and LSR not specifically contained herein and that they agree to be bound by these Terms and Conditions.
Right to Contact: As a result of their participation in the auction, each bidder or consignor agrees that LSR shall have the right to contact the bidder or consignor at any time before, during and after the auction by any method, including telephone, email or direct mail, for any purpose.