Auction Terms & Conditions
Reserved Grace Auctions
1. AGREEMENT TO TERMS
By bidding at a Reserved Grace auction, whether in person, by absentee bid, telephone bid, via the internet, or by other means, the bidder agrees to be bound by these terms and conditions of sale. Any notices, published, posted, or oral, before or during the sale, are part of these terms and conditions. Acceptance of a bidder card or bidder number constitutes acceptance of these terms.
Reserved Grace is not responsible for any errors of the bidder, including but not limited to bidding on the wrong lot.
2. GUARANTEE & RETURN POLICY
We offer two distinct return policies depending on the auction type. The applicable policy will be clearly stated in the lot description.
Standard Auctions: 30-Day Unconditional Return
For lots designated with this guarantee, the purchaser has thirty (30) days from the date of sale to return the item for any reason. The purchaser is responsible for all return shipping costs. After this 30-day period, the sale is considered final and the item is accepted "as is."
Special Auctions (Luxury Accessories, Jewelry, and Watches): Final Sale with Limited Return
For lots in special auctions designated as such, all sales are final. Returns are accepted only for material discrepancies in the lot description. Any claim for a return based on a material discrepancy must be made in writing within fourteen (14) business days of receiving the item.
3. DESCRIPTIONS & DUE DILIGENCE
All titles and descriptions are offered as statements of opinion, without warranty or representation of any kind, express or implied. Reserved Grace makes no representations or warranties as to authorship, attribution, authenticity, provenance, origin, condition, period, culture, value, or any other characteristics, whether written, oral, or implied by law.
Photographic images, condition reports, and supplemental materials are provided for the convenience of prospective bidders and are not intended to be comprehensive or definitive. The absence of reference to any defect does not imply the item is free from defect.
Prospective purchasers are solely responsible for conducting any due diligence they deem necessary, including consulting independent experts before bidding.
No employee, agent, or representative of Reserved Grace is authorized to make any representation or warranty, oral or written, on behalf of Reserved Grace, and no such representations shall be binding.
4. COUNTERFEIT ITEMS
In the event an item is alleged to be counterfeit, the buyer may submit a claim for remedy. If such a claim is made within the thirty (30) day unconditional return period, Reserved Grace may, at its sole discretion, issue a full refund of the purchase price.
After the expiration of the thirty (30) day return period, no claims for refund or return will be accepted unless the buyer provides, at their own expense, written documentation from two (2) independent and recognized experts in the relevant field, each attesting that the item is not authentic. Such documentation must be submitted within a reasonable time frame and in a form acceptable to Reserved Grace.
5. COOPERATION WITH LAW ENFORCEMENT
Reserved Grace is dedicated to upholding the law and will fully cooperate with law enforcement agencies and legal bodies in matters related to counterfeit or fraudulent items. In the event of legal action, Reserved Grace will provide necessary information to appropriate authorities to facilitate investigations and enforcement actions.
6. BUYER'S PREMIUM
Reserved Grace does not charge a buyer's premium. All items are owned by Reserved Grace (not consignment), and the hammer price equals the total purchase price before applicable taxes and shipping.
7. SALES TAX
For purchases picked up or delivered in Texas, unless exempted by law, the purchaser will be required to pay the combined Texas State and local sales tax on the total purchase price.
Reserved Grace is required by law to collect and remit the appropriate sales tax in Texas unless appropriate documentation of exemption is provided. Buyers claiming exemption from sales tax must have the appropriate documentation on file with Reserved Grace before release of the property.
Tax exemptions will be indicated on invoices as follows:
- \* Out-of-state or export purchases: 0% Texas sales tax
- † Resale-exempt purchases (valid resale certificate on file): 0% Texas sales tax
If property is delivered to a state where Reserved Grace is not required to collect sales tax, it is the responsibility of the purchaser to self-assess any sales or use tax and remit it to taxing authorities in that state. Reserved Grace is not required to collect sales tax for property delivered outside of the United States.
8. REGISTRATION
A prospective buyer must complete and sign a registration or bid form before bidding. Reserved Grace reserves the right to require bank and other financial references for participation in any auction or bidding on specific lots. Reserved Grace has the right, in our sole discretion, to refuse any individual bidder's participation.
When making a bid, a bidder accepts personal liability to pay the purchase price and all applicable taxes, fees, and charges.
9. METHOD OF PAYMENT
Payment for auction lots must be received within five (5) days of the auction date.
Accepted payment methods:
- Cash, money order, or cashier's check
- Wire transfer
- PayPal (maximum $500)
- Credit card: MasterCard, Visa, American Express (maximum $5,000)
Foreign buyers: Payment must be in U.S. currency, by certified check drawn on an American bank or by wire transfer.
Reserved Grace reserves the right to demand payment by methods other than credit card or PayPal for any reason whatsoever.
10. DEFAULT & LATE PAYMENT
Payment is due upon receipt of the buyer's invoice. Please pay within five (5) days of the invoice date.
If the invoice is not paid in full within five (5) days of the auction, Reserved Grace has the right to charge the purchaser's credit card on file for the full invoice amount.
After seven (7) days, a $5 per week storage fee may apply to unpaid lots.
Interest: Interest will be charged on all unpaid balances at the rate of 12% per annum (or the highest allowable rate under Texas law) beginning the 10th day after the auction date.
Liquidated damages: If the purchaser fails to pay the full invoice amount within forty-five (45) days after the auction, the purchaser shall be immediately liable for liquidated damages equal to 30% of that amount, in addition to the total invoice amount and any applicable interest.
Upon the fall of the auctioneer's hammer, title passes to the highest bidder acknowledged by the auctioneer. The bidder thereupon assumes full risk and responsibility (including liability for loss, destruction, or damage) and will immediately pay the full purchase price or such part as we may require.
11. WITHDRAWAL
Reserved Grace reserves the right to withdraw from the auction, rearrange, separate, or exclude any property before or during the sale without notice and shall have no liability whatsoever for such actions.
12. PROTESTS, DISPUTES, & THE AUCTIONEER
Reserved Grace has the right at its absolute and sole discretion to reject or refuse a bid from any bidder, to advance the bidding in such manner as we may decide, to withdraw or divide any lot, to combine any two or more lots, to determine the successful bidder, to continue the bidding, to cancel the sale, or to reoffer and resell any item in dispute, whether during or after the sale.
The highest bidder, acknowledged by the auctioneer, will be the purchaser. The auctioneer shall have sole and final discretion as to the disposition of any dispute, including the re-offer and resale of any article in dispute. Reserved Grace records will be deemed conclusive in all respects in the event of any dispute after the sale.
13. RESERVES
Some items in the auction may be subject to reserve, which is the confidential minimum price below which the lot will not be sold. If a lot is offered with a reserve, Reserved Grace may implement that reserve by bidding on behalf of itself to reach the reserve price.
The auctioneer may reject nominal bids, which are small opening bids or very nominal advances made with the purpose of disparaging an item. If a lot fails to achieve a bid equal to or exceeding 25-30% of the low estimate, the item may be passed and not sold, and may be re-offered at a later sale. This determination is at the sole discretion of the auctioneer.
Items that are not reserved are sold at the auctioneer's discretion.
14. EXPORT/IMPORT REQUIREMENTS
Certain property may require a license or certificate prior to exportation and/or importation. It is the purchaser's responsibility to obtain any required export, import, or other documentation. We shall neither be obliged to rescind a sale nor to refund any interest or other expenses incurred by the buyer where payment is made in circumstances requiring an export license.
15. PHOTOGRAPHS & INTELLECTUAL PROPERTY
Reserved Grace reserves the right to retain, disclose, sell, transfer, and/or publish any photographs, images, descriptions of property, and results of any sale, before and after the auction, including but not limited to publishing via the internet and/or any other media, and/or to any third party.
All images, texts, photographic reproductions, and catalogue design are subject to copyright and may not be reproduced without our explicit written permission.
Reserved Grace makes no representations or warranties, express or implied, as to whether the purchaser acquires any copyrights, intellectual property rights, including but not limited to any reproduction rights.
16. LIMITATION OF LIABILITY
EXCEPT AS EXPRESSLY PROVIDED HEREIN, ALL PROPERTY IS SOLD "AS IS" AND "WHERE IS."
RESERVED GRACE MAKES NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE TITLE, MERCHANTABILITY, FITNESS, OR CONDITION OF THE PROPERTY, OR AS TO THE CORRECTNESS OF DESCRIPTION, PHYSICAL CONDITION, GENUINENESS, AUTHENTICITY, ATTRIBUTION, PROVENANCE, OR PERIOD OF THE PROPERTY, OR AS TO ANY TRADEMARKS, COPYRIGHTS, OR OTHER INTELLECTUAL PROPERTY RIGHTS IN LOTS SOLD.
THE PURCHASER EXPRESSLY ACKNOWLEDGES AND AGREES THAT IN NO EVENT SHALL RESERVED GRACE BE LIABLE FOR ANY DAMAGES, INCLUDING WITHOUT LIMITATION ANY COMPENSATORY, INCIDENTAL, OR CONSEQUENTIAL DAMAGES.
17. SHIPPING & HANDLING
Shipping and handling charges are additional and will be calculated based on the item’s size, weight, value, and destination.
Shipping is invoiced separately, and items ship after the shipping invoice is paid.
Insurance is included in shipping costs for items over $100. The purchaser assumes all risk of loss or damage during shipping unless full insurance has been purchased.
Purchasers are responsible for providing accurate shipping addresses. Reserved Grace is not responsible for delays or losses caused by incorrect addresses provided by the purchaser.
18. GOVERNING LAW & JURISDICTION
By bidding at a Reserved Grace auction, the purchaser or bidder agrees that the binding contract created by these terms and conditions is made and performed in the State of Texas, and that any dispute arising from this contract shall be resolved in the courts of the State of Texas.
The rights and obligations hereunder are governed by Texas law, excluding its conflict-of-laws rules. All bidders irrevocably consent to service of process or any other documents in connection with proceedings in any court by certified mail, return receipt requested, or by facsimile transmission, personal service, delivery by mail, or in any other manner permitted by Texas law or the law of the place of service, at the last address of the bidder known to Reserved Grace.
19. BINDING CONTRACT, MODIFICATIONS, & SEVERABILITY
The contract for sale of items is made between Reserved Grace as owner and the buyer. The terms and conditions of sale shall bind the successors and assigns of all bidders and purchasers and inure to the benefit of Reserved Grace successors and assigns.
No waiver, amendment, or modification of these terms (other than posted notices or oral announcements during the sale) shall bind Reserved Grace unless specifically stated in writing and signed by Reserved Grace.
If any part of these terms and conditions is for any reason invalid or unenforceable, such portion shall be stricken and the rest shall remain valid and enforceable.
These Terms and Conditions of Sale are effective as of the date of each auction and govern all transactions between Reserved Grace and auction participants.
20. CONTACT INFORMATION
For questions about these Terms and Conditions, please contact us:
Reserved Grace
Email: angie@reservedgrace.com
Phone: 817-587-4326
Address: 12650 N Beach St, Ste 114 #7139, Fort Worth, TX 76244
