Terms of Sale

These Terms of Sale govern all transactions conducted through HeritageBids online auction platform (auctions.heritagebids.com) and listings on third-party platforms including LiveAuctioneers. By registering to bid or placing any bid, you agree to be bound by these terms.

SECTION A: BEFORE THE AUCTION

1. Property Descriptions and Condition

All property descriptions, condition reports, images, and statements about lots are opinions only and should not be relied upon as statements of fact. Except for the limited authenticity warranty in Section F below, HeritageBids makes no representation or warranty regarding any lot’s description, condition, authenticity, age, attribution, provenance, or value.

All lots are sold “AS IS” in their condition at the time of auction. Physical condition may vary due to age, wear, previous damage, or restoration. Condition reports, when provided, do not constitute a complete accounting of condition and may not include all defects or restorations. Images may not accurately represent colors or condition.

2. Authenticity and Certificates

SELLER RESPONSIBILITY: Sellers are solely responsible for the authenticity of all consigned property and must provide appropriate documentation when available, including:

• Gemological certificates (GIA, AGS, SSEF, etc.) for gemstones
• Appraisals for significant pieces
• Provenance documentation when available
• Authentication certificates from recognized authorities

HERITAGEBIDS OBLIGATION: When industry-standard certificates exist for a category of property (such as gemological reports for valuable gemstones), HeritageBids will request such documentation from consignors. However, the absence of certificates does not imply any warranty by HeritageBids.

3. Pre-Auction Viewing

HeritageBids may offer pre-auction viewing by appointment. Prospective bidders are encouraged to inspect lots personally or through qualified representatives. We recommend hiring professional advisers if you are unfamiliar with the nature or condition of objects in which you are interested.

4. Estimates

Estimates are based on comparable sales, condition, and market factors. They are opinions only and should not be relied upon as predictions of selling prices or valuations for any other purpose. Estimates exclude buyer’s premium, taxes, and other charges.

5. Reserves

Lots may be offered with reserves (confidential minimum selling prices). HeritageBids may bid on behalf of consignors up to the reserve amount. If a lot fails to reach its reserve, it will be reported as unsold.

SECTION B: REGISTRATION AND BIDDING

1. Bidder Registration

HeritageBids reserves the right to reject any registration or bid. New bidders must register at least 24 hours before auctions and provide photo identification and proof of current address. Corporate bidders must provide certificates of incorporation and beneficial ownership documentation.

2. Anti-Money Laundering Compliance

By participating in auctions, you represent and warrant that:

• You are not subject to trade sanctions or embargos
• Funds used for payment are not connected to any criminal activity
• You are not owned or controlled by any sanctioned person or entity
• If bidding as an agent, your principal meets these same requirements

3. Bidding Methods

Bidding is available through:

• HeritageBids online platform (auctions.heritagebids.com)
• LiveAuctioneers and other third-party platforms
• Phone bidding (by arrangement)
• Absentee bids

4. Third-Party Platforms

When bidding through LiveAuctioneers or other third-party platforms, additional fees may apply as disclosed on those platforms. Bidders using third-party platforms remain subject to these Terms of Sale.

SECTION C: DURING THE AUCTION

1. Bidding Process

The auctioneer has sole discretion to accept or reject bids, determine bidding increments, and resolve any disputes. All bids are final and irrevocable once made.

2. Successful Bids

The contract of sale is formed when the auctioneer accepts the final bid. The successful bidder is obligated to purchase the lot at the hammer price plus applicable buyer’s premium, taxes, and fees.

SECTION D: AFTER THE AUCTION

1. Buyer’s Premium

In addition to the hammer price, successful bidders agree to pay a buyer’s premium:

ON HERITAGEBIDS PLATFORM: 15% of the hammer price

ON LIVEAUCTIONEERS: 22% of the hammer price (15% to HeritageBids + 7% LiveAuctioneers fee)

Minimum buyer’s premium: $25 per lot

2. Payment Terms

Payment is due within 7 days of invoice date. Accepted payment methods:

• Bank wire transfer (preferred)
• Credit card (3% convenience fee applies, maximum $25,000 per transaction)
• Certified check

All payments must be in U.S. dollars and made by the registered bidder.

3. Taxes

Buyers are responsible for all applicable sales taxes based on shipping destination or pickup location. HeritageBids collects sales tax where legally required.

4. Late Payment

Unpaid invoices are subject to:

• 1.5% monthly interest charges
• Cancellation of sale and resale of lot at buyer’s expense
• Legal action for collection
• Exclusion from future auctions
• Forfeiture of any deposit

5. Title and Risk Transfer

Title passes to buyer only upon receipt of full payment in cleared funds. Risk of loss transfers to buyer upon: (a) collection of the lot, or (b) 30 days after auction close, whichever occurs first.

SECTION E: SHIPPING AND FULFILLMENT

1. Seller Responsibility

Consigning sellers are responsible for:

• Packaging and shipping sold lots directly to buyers
• Purchasing adequate insurance coverage
• Providing tracking information to HeritageBids
• Meeting shipping deadlines specified by HeritageBids

2. HeritageBids Role

HeritageBids will:

• Facilitate communication between buyer and seller
• Provide buyer shipping address after payment clearance
• Share tracking information provided by sellers with buyers
• Monitor fulfillment timelines

Buyers understand that HeritageBids does not handle physical shipping and is not responsible for loss or damage during shipment (seller’s insurance provides coverage).

3. Collection Deadline

Buyers must arrange collection/shipping within 30 days of payment. After 30 days, storage fees of $10 per day may apply.

SECTION F: LIMITED WARRANTIES

1. Authenticity Warranty

HeritageBids provides a limited authenticity warranty for a period of one (1) year from the auction date, subject to these conditions:

• Warranty applies only to the main attribution stated in the lot heading
• Does not apply to qualified attributions using terms like “attributed to,” “style of,” “manner of,” etc.
• Does not apply where current scholarship differs from auction-date opinions
• Claimant must provide written opinions from two recognized experts confirming the lot is not authentic
• Lot must be returned in same condition as sold
• Remedy limited to refund of purchase price only

2. Jewelry Specific Terms

• Colored gemstones may have been treated to improve appearance
• Treatments are considered standard industry practice but may affect durability
• Buyers may request gemological reports for lots lacking certificates (fee applies)
• Natural vs. synthetic determination, if any, is based on available documentation only

3. No Other Warranties

Except as specifically stated, HeritageBids provides no warranties and disclaims all warranties including merchantability, fitness for purpose, and condition.

SECTION G: LIABILITY AND INDEMNIFICATION

1. Liability Limitation

HeritageBids’ liability for any claim is limited to the purchase price paid by buyer. HeritageBids shall not be liable for:

• Consequential, incidental, or special damages
• Loss of profits, opportunity, or value
• Damages exceeding the purchase price

2. Consignor Indemnification

Consigning sellers agree to indemnify and hold harmless HeritageBids from any claims related to:

• Authenticity or attribution of consigned property
• Title defects or ownership disputes
• Failure to provide accurate descriptions or certificates
• Failure to fulfill shipping obligations

3. Force Majeure

HeritageBids is not liable for delays or failures caused by circumstances beyond reasonable control, including natural disasters, internet outages, or platform failures.

SECTION H: EXPORT, IMPORT, AND RESTRICTED MATERIALS

1. Buyer Responsibility

Buyers are solely responsible for:

• Compliance with all export/import laws and regulations
• Obtaining necessary permits for restricted materials
• Understanding local laws regarding ownership of purchased items

2. Restricted Materials

Some lots may contain materials subject to restrictions (ivory, tortoiseshell, precious corals, etc.). HeritageBids will not cancel sales or refund payments if items cannot be exported, imported, or shipped due to legal restrictions.

SECTION I: DISPUTE RESOLUTION

1. Governing Law

These terms are governed by New York State law. Any disputes will be resolved through binding arbitration administered by the American Arbitration Association in New York.

2. Limitation Period

Any claims must be brought within one (1) year of the auction date.

SECTION J: GENERAL TERMS

1. Modification

HeritageBids reserves the right to modify these terms. Changes will be posted on the website and apply to future auctions.

2. Severability

If any provision is deemed invalid, the remaining provisions remain in full effect.

3. Recordings

HeritageBids may record auction proceedings for operational and security purposes.

4. Privacy

Personal information is handled according to HeritageBids’ Privacy Policy available at heritagebids.com.

DEFINITIONS

• “Hammer Price”: Winning bid amount before buyer’s premium and fees
• “Purchase Price”: Hammer price plus buyer’s premium, taxes, and applicable fees
• “HeritageBids Platform”: auctions.heritagebids.com
• “Third-Party Platform”: LiveAuctioneers and other external bidding platforms

IMPORTANT LEGAL NOTICE: These terms are a draft template and must be reviewed and approved by qualified legal counsel before implementation. Do not use without proper legal review and local law compliance verification.

CONTACT INFORMATION:
HeritageBids LLC
Email: contact@heritagebids.com
Website: heritagebids.com

Effective Date: 04/23/2026
Version: 1.0