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TERMS & CONDITIONS OF AUCTION
1. This auction is presented by Robert Edward Auctions,
LLC. The auction is conducted under these Terms and Conditions of Auction and
applicable state and local law.
2. Any person participating in or who registers for the
auction agrees to be bound by and accepts these Terms and Conditions of Auction.
3. Items are sold to the highest bidder. Bidding is
scheduled to begin approximately Monday, April 13, 2009.
4. The final day of bidding for all Lots is Saturday, May
2, 2009. Bids may be placed at any time prior to 4:00 PM EDT, May 2, 2009. The
auction is scheduled to close at 4:00 PM EDT on May 2, 2009, HOWEVER, we
will continue to accept bids after 4:00 PM EDT on all lots in the auction until
approximately 15 minutes pass without either a phone or internet bid. IF YOU
HAVE NOT BID ON AN ITEM BEFORE 4:00 PM, YOU CANNOT BID ON IT AFTER 4:00 PM.
To ensure that everyone can get through to bid, we will remain open for bids
until approximately fifteen minutes pass without a bid. If the line is busy, we
are still accepting calls. This system is designed to reward bidders, not the
person who can stay up the latest. If the auction continues to as late as 11
P.M. EDT on May 2, 2009, Robert Edward Auctions reserves the right to close the
auction, at its sole discretion, at any time. We recommend bidders leave maximum
left bids utilizing Robert Edward Auctions’ “Honest Auto-Bid” system to avoid
disappointment. There will be no warning as to exactly when we will close the
auction should bidding continue past 11:00 P.M. EDT. We do not anticipate the
auction to remain open past 2:00 A.M. EDT (technically the morning of May 3,
2009). This closing system is designed to reward bidders, and eliminate all
strategies which needlessly encourage the auction to remain open many hours into
the following day, potentially giving an advantage to bidders who have the
ability to stay up the latest. When the auction is over, callers will be greeted
with a message informing them that the auction is over, and a message will also
appear on our website stating that all bidding is closed. All lots remain open
for bidding until the close of the entire auction. All lots are closed
simultaneously.
5. All bidders must have a bidder number. Please note
that anyone who has ever in the past done business with Robert Edward Auctions
over the past 30 years, as well as virtually all past MastroNet, Ron Oser
Enterprises, and Oregon Trail customers, have already been assigned new Robert
Edward Auctions bidder numbers. If you have received this catalog by mail, it is
likely that you have already been approved and activated for bidding. Your
bidder number can be found on the address label of the envelope in which this
catalog was mailed. With this bidder number, you will be able to place bids by
phone, or go online to obtain your confidential password to allow for internet
bidding by visiting
www.RobertEdwardAuctions.com and
following the instructions found there.
6. All new bidders must register online at
www.RobertEdwardAuctions.com or call (908) 226-9900 to obtain a
bidder number prior to April 30, 2009. Once you receive a bidder number,
this will be your bidder number for all future Robert Edward Auctions, LLC
auctions.
7. All new registrants will need two hobby references.
These references will be checked. First time bidders may be asked to sign and
fax their initial bids to 908-226-9920. Absolutely no bidder registrations
will take place the day of the auction. No exceptions can be made. We
reserve the right in our sole discretion to refuse to register a bidder or to
refuse to accept bids from anyone. All registrants must be 18 years or older (21
in some states).
8. At any time bidders may call to learn the status of an
item. We will tell you the current high bid. To top it, you must bid the next
bidding increment. There are absolutely no exceptions to the minimum raise
amounts. Placing a straight bid at a level higher than the next minimum bid
level is not prohibited, but may only be entered with the approval of REA
directly with REA administration. Placing a bid constitutes acceptance of the
terms of sale as outlined herein.
Bidding increment table follows:
Minimum Value
Maximum Value Expected Bid Increment
from US $ 0
to US $ 499
US $ 50
from US $ 500
to US $ 1999
US $ 100
from US $ 2000
to US $ 4999
US $ 250
from US $ 5000
to US $ 9999
US $ 500
from US $ 10000
to US $ 19999 US $ 1000
from US $ 20000
to US $ 49999 US $ 2500
from US $ 50000
to US $ 99999 US $ 5000
from US $ 100000
to US $ 499999 US $ 10000
from US $ 500000
to US $ 999999 US $ 50000
from US $ 1000000
and above
US $ 100000
9. Internet system-generated bid confirmation and outbid
notices are always sent, but Robert Edward Auctions cannot guarantee that they
will be received. There are many reasons why an automated email notice will not
be received, including computer settings of recipients which sometimes interpret
system email as spam. We recommend to bidders to not rely exclusively on email
outbid notices, but to simply check the status of your bids online at
www.RobertEdwardAuctions.com.
10. Following each Lot’s description is a reserve (or
minimum bid), and an estimated value range. For more information about reserves,
see previous pages. There are no secret reserves. The minimum bids are the
minimum bids. If you bid the minimum, and no one else bids, you win. The
estimates are provided by Robert Edward Auctions, LLC in good faith, strictly as
a service. It is explicitly stated that actual values may be higher or lower
than the estimated value range provided.
11. Offers to “top all other bids” are not accepted, but
we will bid on your behalf up to a set amount per your instructions or, in
special circumstances, provide a call-back service on specific lots (See Call
Backs and “Up To” or “Limit Bids” sections of these rules).
12. In accordance with the applicable FCC regulations,
under no circumstances may consignors bid on their own materials.
13. There is no circumstance under which Robert Edward
Auctions, LLC may execute bids on its own “house account,” thereby unfairly
competing with bidders. In fact, to be clear, Robert Edward Auctions does not
even have a “house account,” unlike many other auctions. Under no circumstance
may any executive or employee of Robert Edward Auctions, LLC place bids in the
auction for their personal accounts. Under no circumstance are consignors
permitted to bid on their own lots. This is a consignment auction, conducted on
behalf of consignors, by Robert Edward Auctions, LLC. Under no circumstance will
any lot be offered in any Robert Edward Auctions, LLC auction which has been
purchased or is otherwise owned outright by Robert Edward Auctions, LLC.
Executives and employees of Robert Edward Auctions, LLC may consign their
personal property to the auction. Any and all lots consigned from the personal
collections of any executive or employee of Robert Edward Auctions (or any
relative of any executive or employee or relevant service provider employee)
will be explicitly and formally identified as such in the lot description. All
bidding records are archived, as always, indefinitely, and will forever be
available for auditing purposes, if necessary.
14. Bidders must pay packing, shipping and insurance
costs for all items they win.
15. New Jersey residents must pay 7% state sales tax or
have valid resale certificate.
16. A 17.5% buyers premium will be added to all winning
bids. For example, should you win a lot for $100, your actual cost will be
$117.50 (plus postage, insurance and tax, if applicable).
17. Grading, condition, authenticity, and warranty of lots:
There is a subjectivity to grading – especially the grading of cards. Every
effort is made to verify the condition of each lot as it is described. We do not
accept material for auction without careful scrutiny by not only ourselves, but,
when necessary, by other leading authenticators. We cannot guarantee that every
card described by us will in all cases receive exactly the same grade, or even
be accepted for grading, by any third party grading service. Similarly, we
cannot guarantee that every card graded by one third party grading service will
in all cases receive exactly the same grade by another third party grading
service. No warranty, whether expressed or implied, is made with respect to any
grade, condition, or other adjectival descriptions, which can and do vary, even
among experts. Robert Edward Auctions, LLC utilizes a third-party authentication
process for bats, jerseys, gloves, and autographed items. In placing a bid on
such items, the documentation and letters supporting the opinion of authenticity
that are noted in the description are explicitly deemed acceptable to the
bidder. There will always be experts that will have differing opinions. In many
cases more than one authentication service has reviewed a given item. As has
always been the case at REA, in all cases where the retained authenticators were
not in unanimous agreement regarding authenticity, those items were not accepted
for auction. This is a strict policy which REA pioneered in 1996. If the opinion
of the expert(s), or the documentation supporting the authenticity of a given
item, is not accepted as sufficient for a bidder, it is the bidder’s
responsibility to have an expert of his or her choice examine the given item for
authenticity before bidding. Robert Edward Auctions will cooperate in any
reasonable manner to have any lot examined by any qualified bidder’s expert(s)
of choice. Auctioneer does not warrant authenticity of any material that is
accompanied by a Certificate of Authenticity, or its equivalent, from an
independent third-party authentication provider. The bidder shall solely rely
upon the warranties of the authentication provider issuing the Certificate or
opinion, or on the warranties of the authentication provider of the bidder’s
choice. For information as to authentication provider’s warranties the bidder is
directed to: MEARS, 15417 West National Avenue, #60, New Berlin, WI. 53215,
414-828-9990; James Spence Authentication, LLC, 2 Sylvan Way, Suite 102,
Parsippany, NJ 07054, 973-898-1300; Professional Sports Authenticator (PSA), 700
East Alton Ave, Santa Ana, CA. 92705, 800-325-1121; Sportscard Guaranty LLC
(SGC), P.O. Box 6919, Parsippany, NJ 07054-6919, 800-SGC-9212; Global
Authentication Inc. (GAI), 15641 Red Hill Ave., Suite 200, Tustin, CA 92780,
949-366-9500; Beckett Grading Service, 4635 McEwen Road, Dallas, TX 75244; or as
otherwise noted by the letters of authenticity by other authenticators
accompanying auction lots. Auctioneer offers no opinion as to the validity of a
grade assigned by any third-party grading service. Since we cannot examine
encapsulated cards outside of their holders, they are sold “as is.” Auctioneer
shall not be liable for any patent or latent defect or controversy pertaining to
or arising from any encapsulated collectible. In any such instance, purchaser’s
remedy, if any, shall be solely against the certification service certifying the
collectible. Robert Edward Auctions, LLC is not bound by the opinions of any
authenticators, grading services, or experts, nor do the rules governing
auctions in any of the publications in which we may advertise hold precedence
over Robert Edward Auctions LLC’s stated auction rules, terms and conditions.
18. Large Autograph Group Disclaimer: When dealing
with a single individual auction lot containing many hundreds or thousands of
autographed items, these lots are offered with the explicit understanding that
it is possible that there may be an extremely small percentage which are not
authentic. A team of authenticators worked to process the autographed items
presented in this auction. When authenticating large lots, such as a collection
of 6,000+ signed 3 x 5 cards, or a set of 700+ signed baseball cards, great care
has been taken in the authentication process, with all the greater attention
focused on any items representing a concentration of value, but it is always
possible that on rare occasions a secretarial or stamped signature could be
missed here or there. Without this disclaimer, as a practical matter, it would
not be possible for Robert Edward Auctions to offer such lots at all. All
bidders bidding on such lots do so with this understanding.
19. All card grading service population report
information provided in descriptions is as of when the lot was written; it is
therefore possible that, in isolated cases, cited population report information
may not take into account very recently graded cards. All price guide
information provided in descriptions is as of when the lot was written; it is
therefore possible that very recent price guide changes will not be reflected,
especially when citing information from publications issued monthly such as
Sports Market Report (“SMR”). All measurements are approximate.
20. Grading of Autographs: Autographs are graded for
boldness and overall quality on a scale of “1 to 10,” with “1” being the lowest
quality, and “10” being the highest quality. These grades appear in the text of
autographed lots, usually in parentheses immediately following the signature
name in quotes. These grades are subjective. They are provided as a casual
opinion, for the purpose of communicating the quality of signatures, and are not
presented as the product of a rigorous scientific process. We have never had a
single complaint regarding signature grades, but we wish to be clear that we
cannot guarantee that every signature graded by REA will receive exactly the
same grade by any individual or third party grading service.
21. Complete pre-auction viewing, Xeroxing, faxing, and
telephone consultation services are available and encouraged. If necessary,
special arrangements can be made to provide enlarged photos or photocopies, or
scans by email. All lots are available for inspection by special appointment
only. Final viewing is Wednesday, April 29, 2009. Consultants are available to
provide detailed descriptions by phone prior to the final auction closing date.
22. No retractions of bids are permitted. Once a bid has been
placed, it may not be retracted.
23. ALL SALES ARE FINAL. This is a consignment sale. No
returns are accepted.
24. In no event will the liability of Robert Edward
Auctions, LLC exceed the purchase price paid for any lot.
25. Robert Edward Auctions, LLC reserves the right to
postpone or delay the auction, for a reasonable period of time, due to any
significant, relevant event, which in the sole discretion of the auctioneer,
makes it inadvisable to hold the auction as scheduled, without recourse from any
bidder or prospective bidder.
26. Robert Edward Auctions, LLC, at its sole discretion,
reserves the right to accept or reject any or all bids by any bidder.
27. Payment is due within 14 days of notification of lots
won. Notification may be by mail, email, telephone, fax, or any combination of
these communications. Internet bidders may access their complete invoices
(including shipping and insurance) online within 48 hours of the auction close
by logging on and clicking “accounts” on the navigation bar. This ability will
constitute notification of payments due for all Internet bidders. Please call to
prearrange any other type of payment schedule, which if desired must be
requested prior to bidding, and approved by Robert Edward Auctions, LLC in
writing. Any bidder who has not paid in full within 14 days of notification
without having made prior arrangements for late payment may have future bidding
privileges revoked. We accept personal checks. Checks are held until funds are
collected which takes 5-10 business days; it will take an additional several
business days after funds have been collected before shipment will occur. We
also accept cashier's checks, certified checks, money orders or wire transfers.
These forms of payment are registered immediately and shipment of items occurs
as soon as possible, usually within several days. No credit cards accepted.
28. Title to any lot remains with the consignor or Robert
Edward Auctions, LLC, and shall not pass to the successful bidder until the lot
is actually paid for in full.
29. If a winning bidder does not honor his or her bid
with payment in full per the auction rules, then it is agreed that Robert Edward
Auctions, LLC is entitled to a payment of $10 per day per lot from the
non-paying winning bidder for storage and insurance of the unpaid lots until the
matter is resolved, and that Robert Edward Auctions, LLC may, in addition to
asserting all remedies available by law, at its sole discretion i) sell the
given item(s) to an underbidder, or ii) reoffer the given lot(s) in a future
auction, or iii) hold the defaulting buyer liable for the entire purchase price.
In either case, it is explicitly agreed that the non-paying winning bidder will
be responsible for any and all losses incurred, and also be responsible for all
service charges and/or commissions related to the subsequent sale by Robert
Edward Auctions LLC in the sale or auction of the said lot(s), and also be
responsible for all interest charges at the rate of 1.5% per month on all
outstanding balances until paid in full. Whether sold to an underbidder or
reoffered at auction, the service charges or commissions on lots sold due to
non-payment will be computed as if Robert Edward Auctions LLC had sold the given
item at auction, collecting its standard 10% commission rate from the seller and
17.5% buyers premium from the buyer. To be clear, if a buyer should fail to
honor his or her winning bid(s), and REA sells the given lot(s) to another
buyer, the nonpaying winning bidder will be responsible for all of REA’s
commissions, both the sellers fee and the buyers premium, that would have been
associated with the sale, had the nonpaying bidder honored his or her invoice,
plus any difference in price between the not honored sales price and the
subsequent sale price (plus interest, storage, and all of REA’s reasonable legal
expenses in collection, if necessary). For example, if a bidder were to win a
given lot for $11,750 (hammer price of $10,000 plus 17.5% buyers premium) and
refuse to honor his or her winning bid per the auction’s terms and conditions,
Robert Edward Auctions LLC might sell the lot for $10,575 to mitigate its
damages. (This sum is the equivalent of hammer price $9000 plus 17.5% buyers
premium). In such a case, the non-paying bidder agrees they would owe Robert
Edward Auctions LLC the sum of $3,650 plus interest computed at the rate of 1.5%
per month on all outstanding balances. The $3,650 is computed as the difference
between the original selling price of $11,750 and $8,100, with the $8,100 figure
representing the consignor proceeds that would normally be generated by the
subsequent sale of a lot sold at a hammer price of $9,000 by Robert Edward
Auctions. In other words, if Robert Edward Auctions LLC at its sole discretion
mitigates its damages caused by a non-paying winning bidder by selling a given
item elsewhere, at auction or by private treaty, Robert Edward Auctions LLC will
be compensated for these additional services by the nonpaying bidder. As such, a
non-paying winning bidder will owe not just the difference between the amount
due and the subsequent selling price, but also the additional commission
expenses customarily charged by Robert Edward Auctions LLC for its services. In
such a case, if the subsequent mitigating sale is executed by private treaty, it
is explicitly agreed that the non-paying bidder will be responsible for both the
buyer and seller fees associated with the subsequent sale. Furthermore, the
non-paying bidder explicitly agrees to pay any and all costs of collection,
including but not limited to reasonable attorney’s fees, incurred by Robert
Edward Auctions, LLC in the collection of the entire purchase price, or the
collection of losses incurred due to non-payment, and/or the collection of
service charges, and/or the collection of commissions owed by the non-paying
winning bidder resulting from non-payment. Such strict terms are explicitly
designed to protect Robert Edward Auctions LLC from all losses potentially
incurred as a result of non-paying winning bidders. These terms also protect the
interests of consignors and the interests of all legitimate bidders.
30. Any person participating in or who registers for the
auction agrees to be bound by and accepts these Terms and Conditions of Auction.
If an entity places a bid, then the person executing the bid on behalf of the
entity agrees to personally guarantee payment for any successful bid.
31. Robert Edward Auctions LLC disclaims all liability
for damages, consequential or otherwise, arising of or in connection with the
sale of any property by Auctioneer to Bidder. No third party may rely on any
benefit of these Terms and Conditions and any rights, if any, established under
the Terms and Conditions are personal to the Bidder and may not be assigned.
Any statement made by the Auctioneer is a statement of opinion and does not
constitute a warranty or representation. No employee of Robert Edward Auctions
LLC may alter these Terms and Conditions, and, unless authorized and signed by a
principal of Robert Edward Auctions LLC, any alteration is null and void.
32. Placing a bid constitutes express acceptance of all
terms and provisions contained in these Conditions of Sale. In the event of a
dispute regarding payment for lots, as detailed in Section 29 of the Terms and
Conditions (above), the bidder agrees to pay all of the auctioneer's reasonable
attorney's fees and cost involved in collection of funds, plus 1.5% interest per
month on any unpaid balance, accruing from the original due date, until the date
all balances are paid. The exclusive jurisdiction for all litigation shall be in
the State of New Jersey, County of Somerset, or the Federal District Court of
New Jersey at the discretion of the auctioneer. Bidder hereby consents to the
application of the law of the state of New Jersey in interpreting any issues
arising out of its relationship with Robert Edward Auctions, LLC. Each term and
provision of these Conditions of Sale shall be construed as separate and
distinct. In the event that any such term or provision shall be held whole by a
court of competent jurisdiction to be invalid, in whole or in part, the
remaining terms and provisions shall survive and be binding on both parties.
End of Terms and
Conditions
GUIDE FOR PROSPECTIVE
BIDDERS:
BUYER’S PREMIUM:
Please remember there is a 17.5%
Buyer’s Premium. For example, should you win a lot for $100, your actual cost
will be $117.50 (plus postage, insurance and tax, if applicable).
INTERNET BIDDING, REGISTRATION
& LOGIN INSTRUCTIONS:
You can view the Entire
Catalog and bid on-line at:
www.RobertEdwardAuctions.com
All registered and approved
bidders at Robert Edward Auctions are eligible to bid via the Internet. Our
website provides a state-of-the-art real-time bidding environment for auction
participants. Up-to-the-second current high bids can be viewed by bidders and
non-bidders alike.
All auction and bidding rules
as stated in TERMS AND CONDITIONS OF SALE and GUIDE FOR PROSPECTIVE BIDDERS
apply to Internet bidding.
Bidder Registration and
Login Procedures:
Before you can bid on the
Internet, you will need to obtain a Bidder Number and Password.
Anyone who has ever in the past done business with
Robert Edward Auctions over the past 30 years, as well as virtually all past
MastroNet, Ron Oser Enterprises, and Oregon Trail customers, have already been
assigned new Robert Edward Auctions bidder numbers. If you have received our
catalog by mail, you have already been approved for bidding. Your bidder number
can be found on the address label of the envelope in which the catalog was
mailed. With this bidder number, you will be able to place bids by phone, or
go online to obtain your confidential password to allow for Internet bidding by
visiting
www.RobertEdwardAuctions.com and following the instructions found there.
For the first time logging on to www.RobertEdwardAuctions.com, bidder Passwords
are set to be the bidder’s last name. Upon signing in, for security reasons,
you will be prompted to change your password to a new password of your choice.
You will also be asked to provide or update your contact information. If you
should ever lose your password, you will be able to reset it once again by
following the instructions on the website. If you are a new bidder, please
follow the simple registration procedures that are provided online at
www.RobertEdwardAuctions.com.
A WORD ABOUT RESERVES AND
ESTIMATES:
Robert Edward Auctions believes
what makes a good auction is quality material and reasonable reserves. The vast
majority of the minimums in this auction are extremely low. Most represent
somewhere between 25% and 50% of a fair value. The purpose of the reserves in
this and all Robert Edward Auctions, LLC sales is simply:
1) To limit inquiries to those
bidders who are sincerely interested in a given item; and
2) To ensure that (virtually) all
lots will be sold. In this regard, this auction has much more in common (in
spirit) with a no reserve auction than a traditional reserved auction.
3) Each lot is also accompanied
by an estimated range of value. These estimates are provided by Robert Edward
Auctions strictly as a service. Actual selling prices may be higher or lower
than the provided estimates.
A WORD ABOUT CONFLICTS OF
INTEREST:
Robert Edward Auctions’
policies regarding Conflicts of Interest are summarized by Section #13 of REA’s
Terms and Conditions:
13.
There is no circumstance under which Robert Edward Auctions, LLC may execute
bids on its own “house account,” thereby unfairly competing with bidders. In
fact, to be clear, Robert Edward Auctions does not even have a “house account,”
unlike many other auctions. Under no circumstance may any executive or employee
of Robert Edward Auctions, LLC place bids in the auction for their personal
accounts. Under no circumstance are consignors permitted to bid on their own
lots. This is a consignment auction, conducted on behalf of consignors, by
Robert Edward Auctions, LLC. Under no circumstance will any lot be offered in
any Robert Edward Auctions, LLC auction which has been purchased or is otherwise
owned outright by Robert Edward Auctions, LLC. Executives and employees of
Robert Edward Auctions, LLC may consign their personal property to the auction.
Any and all lots consigned from the personal collections of any executive or
employee of Robert Edward Auctions (or any relative of any executive or
employee) will be explicitly and formally identified as such in the lot
description. All bidding records are archived, as always, indefinitely, and will
forever be available for auditing purposes, if necessary.
We are not dealers. And we
mean it. Robert Edward Auctions will never place a bid on material in our
auction. Robert Edward Auctions will never purchase material outright to offer
at auction. With Robert Edward Auctions, bidders are guaranteed that they never
have to worry about the auction house bidding against them on any lot in the
auction – EVER. With Robert Edward Auctions, bidders also never have to
worry about secret hidden reserves – EVER. These firm policies translate
into greater and well deserved bidder confidence, and in turn higher prices for
consigners.
Many auction houses are also
dealerships, offering material they own at auction, often intentionally
misrepresenting this fact to the public. Many auction houses, as a standard
practice, place bids in their own auctions against their bidders, with an
emphasis on higher-priced items and on material they own. Some auction house
rules actually clearly state that the auction house, as an entity, may bid in
the auction, in addition to permitting all executives and employees of the
auction house to bid. Some auction houses routinely alter or destroy bidding
records after each sale. These and other common practices in the auction
industry expose consignors and bidders to numerous irreconcilable conflicts -
conflicts which can and do cost bidders and consignors money, and can ultimately
make bidders uncomfortable even participating in the auction.
These are conflicts that DO NOT EXIST
with Robert Edward Auctions.
Robert Edward Auctions believes
that protecting the integrity of the auction process, by taking clear and
unambiguous positions with reference to conflicts of interest, results in
greater bidder confidence, greater participation, and higher prices. Everyone
likes an honest auction.
A WORD ABOUT “HONEST AUTO
BID TM”:
We have long admired the inherent
security provided by eBay with reference to the privacy of “Up To” or “Limit
Bids.” Robert Edward Auctions, LLC has gone to the trouble and considerable
expense of commissioning the design of this application, for our bidders use, by
Create Auction LLC., one of the world’s leading independent auction software
development and service providers. To emphasize the distinction between this
Left Bid service and that provided by others, we have named this bidding option
“Honest Auto Bid TM.” This system allows bidders to place bids with a 100%
certainty that absolutely no one in the world, except the bidder, is privy to
the limit of your bid, or even that you have placed an “Up To” bid on a given
lot. Not our bid department. Not our telephone operators. No one - not even
the President of Robert Edward Auctions. There is no one to potentially reveal
details about your bids or bidding limits. No one to potentially be tempted by
conflicts, fraud, or poor judgment. Absolutely NO potential for leaks or
improper handling of bidding information on the part of even a single auction
house employee. Bidders can now enjoy the ability to bid with an absolute
privacy and certainty that no one – unless you choose to tell someone – will
know that you have placed a limit bid, or the maximum limit of your bid (should
you decide to leave a bid limit greater than the next bidding increment.) This
application provides for bidders an option for security and privacy in the
bidding process which, outside of an eBay “private format” auction, to the best
of our knowledge, previously simply did not exist.
Bidders in many auctions are
under the false impression that the privacy of their bids is secure. With the
exception of eBay auctions and Robert Edward Auctions, all auction houses can
and do see each and every maximum bid that bidders place. The auction houses
have never claimed otherwise. In the absence of utilizing the Honest Auto Bid
style system there is no way for them to NOT have access to the maximum bids
when they are placed. Thus maximum bids are always placed "in confidence" with
the auction houses, who in many cases are also the owners of the material being
auctioned and have many incentives for prices to be higher on items they do not
own as well. If the auction house, auction house executives, and all of the
employees (who include many very good friends of consignors) who have access to
this information are all honest, then of course there is absolutely no issue and
absolutely nothing to be concerned about whatsoever.
In 2005 Honest Auto Bid was
profiled in Auctioneer Magazine, the official publication of the National
Auctioneers Association, and in the article all auction houses were invited to
inquire about the possibility of adopting Honest Auto Bid, just as we do on our
site and in all of our literature. Not a single auction house has yet inquired
(though many individuals have). As always, we invite any and all bidders,
members of the media, as well as other auction houses potentially interested in
adopting these systems, to contact us to verify and receive a demonstration of
the 100% guaranteed security of this significant, and in our opinion,
revolutionary bidding system feature.
A Word
Regarding Card Alterations:
This is a growing topic of
concern for collectors and with good reason. The altering of cards is epidemic,
and what is even more alarming is the fact that many cards are being altered by
dealers and by auction houses (who in many cases own the very cards being
altered and auctioned). Robert Edward Auctions’ position regarding the altering
of cards is very clear: We don’t do anything to cards. Period. We don’t think it
is right for dealers or auction houses to alter cards (or any items) without
full disclosure. Robert Edward Auctions does not file the edges or corners of
cards, "squash" cards, press cards, bleach cards, re-back cards, restore cards,
clean cards, trim cards, remove creases, or in any other way doctor or alter any
card or item without full disclosure. EVER. We can't promise anyone that every
card in every case will receive exactly the same grade we give it, or that there
is never an encapsulated card with a problem; no one can do this. But at Robert
Edward Auctions, if there is a problem with a card, at least you know that the
auction house is not responsible. Ever.
Please note that REA catalog
descriptions sometimes use the words that "we have submitted" a given number of
key cards in a set for grading (as opposed to someone else having sent them in
for grading). This is intended to be taken literally and is sometimes meaningful
to bidders precisely because they know that we have not "done anything" to the
cards that are graded, as well as the balance of cards in the lot. We have been
told countless times that sometimes cards in a given grade sell for better
prices at REA than elsewhere. This could very well be the case, in part, because
sometimes the cards at REA actually ARE a little better.
In addition, collectors and
dealers are sometimes surprised to learn that the number of times Robert Edward
Auctions has broken cards out of holders, resubmitted cards for grading, and
gotten higher grades is EXACTLY ZERO. That’s right. Never. REA has NEVER broken
a card out of a holder for resubmission and NEVER gotten a “bump” on a grade.
REA has a policy that we do not brake professionally graded cards out of holders
and resubmit them in the hopes of getting higher grades. We live with the grades
that we get. For better or worse. Period. (There have been several times when we
have requested a review of a graded card in its holder. In each case there was
no change to the grade. There have also been times where we personally grade a
card differently than a grading company. We don’t have a problem with this, and
this will sometimes significantly impact the final selling price of a card.)
There is more to this than meets the eye and for REA this is, frankly, a
double-edged sword. In short, we sometimes lose consignments specifically
because are not willing to do anything to cards and because consignors are led
to believe that they can get better grades elsewhere. We always ask them “How
can this be? If another company can get better grades by altering the cards,
this is wrong. If another company can get better grades because of influence,
this would be wrong also. If another company is claiming that they can get
better grades due to one or both of these factors, and they in fact cannot, then
it is also wrong to make such claims.” We are very upfront that we don’t do
anything to cards. We are very upfront that we don’t resubmit cards for grading.
It’s not because we’re lazy. It’s because this is how we think it should be.
This sometimes costs us consignments. We don’t think these would-be consignors
are doing themselves any favors, by the way, and we are very confident that in
virtually all cases, in large part because of our policies, cards at REA
are actually more likely to bring more money, especially as buyers have become
more aware of the relevant issues.
ADDITIONAL NOTES REGARDING THE
RESUBMISSION OF GRADED CARDS:
The resubmission of graded
cards issue, whenever it does occur, is, of course, almost exclusively related
to when the owner of the card(s) desires to do so. If a collector wants to
resubmit his or her cards, that is certainly his or her right. It’s just not
what REA as an auction house, in our opinion, is supposed to do. Cards
resubmitted numerous times in the hopes of a lucky higher grade will, of course,
tend to be overgraded on average compared to cards submitted once. That’s just
common sense. When any auction company gets a PSA 7 1933 Goudey Babe Ruth on
consignment, they don’t have the right or the financial motivation to break it
out and see if its possible to get it into an 8 holder. There is risk. What if
the card receives a lower grade or doesn’t grade at all the next time? When they
own it, however, the entire risk-reward evaluation process is dramatically
changed. REA doesn’t buy or own any cards so this is literally a non-issue for
us. REA does not break cards out of holders and resubmit them in the hopes of
getting higher grades. We strictly auction cards on consignment. We also do
whatever we can to identify and address seldom-discussed issues relevant to
buyers and sellers.
A Word About
Auction House Consignment Disclosure:
With reference to recent attention in the industry regarding questions about
auctioneers identifying owned lots, the following text is from an REA email that
was sent in August 2006 in which REA amended our Terms and Conditions regarding
material owned by employees. The relevant text of the email reads as follows:
“Effective immediately, we are amending Section 13 of our Terms and Conditions
to provide a formal identification in the lot description of any and all lots
consigned from the personal collections of any executive or employee of Robert
Edward Auctions (or any relative of any executive or employee). Because REA does
not buy material for auction, in many ways this policy amendment is a non-event.
In the April 2006 auction, for example, a total of sixteen lots out of 1,411
would have been identified as property consigned from the personal collections
of executives, employees, or their relatives (and we should add that every
single one of these lots was purchased many years ago). [In the April 2007
auction a total of only 5 lots out of 1594 represent property consigned from the
personal collections of executives, employees, or their relatives. In the
May 2008 auction, a total of 9 out of 1,673 lots represent property consigned
from the personal collections of executives, employees, or their relatives. In
the May 2009 auction, there is only one such lot.] So why are
we even bothering doing this? Because Robert Edward Auctions believes that the
many conflicts of interest that are so common and so accepted in the sports card
and memorabilia auction world today play a great role in promoting many of the
most serious problems that are epidemic in the auction industry. Robert Edward
Auctions strives to stand out as an example to the auction world, demonstrating
how auctions ideally should be run. So while this policy amendment has no impact
on REA, it is intended to be a call to action for all auction houses, and a wake
up call to all collectors who participate in auctions. Bidders should never
intentionally be misled about who owns the lots they are bidding on. Some
auctions have claimed they are not dealers, when in fact that is exactly what
they are. Some auctions present collections of very well known collectors or
ballplayers, and intentionally give the impression that these collections have
been consigned, rather than the truth: that the collection has been purchased
and is actually owned and is being sold by the auction house. If bidders are
being intentionally misled about something as basic as who is really offering a
collection, and a false impression is given that material has been consigned
when this is not true, it is misleading both to bidders and to potential
consignors, and it raises the question, “What else is not as it seems?”
We believe that collectors approach auctions very differently when they
understand that material presented is often owned by the auction company, as
opposed to being consigned as represented, and are much less enthusiastic about
bidding on all lots (including those lots which are actually consigned) in any
auction in which they feel they have been intentionally misled. When collectors
finally learn the truth about this issue, let alone when they come to understand
that at many auctions the auction company consigns hundreds of lots, and its
employees also consign hundreds of additional lots, and both the auction house
and the employees bid in their own auctions, they become less enthusiastic
bidders in those auctions. This should be very important to all bidders and
consignors. We are seeing a greater awareness of these issues that affect all
lots in auctions which combine secretly owned auction-house lots and
consignments. As collectors grow more sophisticated, they are gaining a greater
understanding of the conflicts and misinformation that are regularly presented
to them. It's time that all lots owned by auction houses, auction house
executives, auction house employees, and their relatives be identified, as
opposed to being camouflaged among consignments in a manner that could be
interpreted as a deliberate charade of deception.”
End of quote.
We think our policies are very clear. They are always evolving. We are pleased
to see serious attention to topics that we consider to be among the most
important and overlooked in the field. REA cannot solve these issues, but by
calling attention to them by formally adopting and communicating our policies,
we have always felt that we were playing an important role in encouraging and
heightening awareness. It is our hope that these discussions will result in
greater awareness and play a role in promoting significant change where it is
needed.
Sincerely,
Robert Lifson
President
Robert Edward Auctions LLC
www.RobertEdwardAuctions.com
AUCTION
RESULTS:
Please do not call regarding auction results in the
days immediately following the auction. Complete auction results will be
available immediately upon the close of the auction on our website at
www.robertedwardauctions.com. Auction results will also be mailed upon request
to anyone sending a self-addressed stamped envelope. Complete auction results
will be mailed to all winners.
Shipment of Lots:
Lots are shipped 5-10 business days following posted
collection of funds in full. Bidders must pay packing, shipping and insurance
costs for all items they win.
Placing Bids Before and On Closing Day
We strongly urge bidders to place initial bids early.
Bids are welcomed and encouraged before the closing dates of the auction. Most
bidders choose to place initial bids days before the closing dates. We will be
fully staffed and ready to take bids starting approximately Monday, April 13,
2009. If possible, do not wait until 3:45 PM on the closing dates to place your
initial bids on the telephone for items you really want. Due to heavy call
volume during the final few hours of bidding on the closing date of the auction,
you may have difficulty getting through. This advice is especially important
because, as stated in the Auction Rules above: IF YOU HAVE NOT BID ON AN ITEM
BEFORE 4:00 PM ON THE DAY THE ITEM CLOSES, YOU CANNOT BID ON IT AFTER 4:00 PM.
There are NO EXCEPTIONS to this rule. To ensure that eligible bidders can
get through on the phone lines, we will remain open for phone or Internet bids
until approximately fifteen minutes has passed without either a phone or
Internet bid. If the auction continues to as late as 11:00 P.M. EST on May 2,
2009, Robert Edward Auctions reserves the right to close the auction, at its
sole discretion, at any time. We recommend bidders leave maximum left bids
utilizing Robert Edward Auctions’ “Honest Auto-Bid” system to avoid
disappointment. If the phone line is busy, we are still accepting calls. If the
phone has a message indicating that the auction is over, the auction has been
closed. Internet bidders will see a notice on the Robert Edward Auctions website
stating that the auction has closed.
Call Backs
After 4:00 PM EST on the final day of the auction, we
offer a “Call Back” service. We have found that a significant impact of the
Honest Auto Bid TM system is that this system virtually eliminates all call-back
requests, and fewer call-backs allow us to close the auction at a much earlier
hour, which benefits all bidders. However, the call-back option may have special
value to bidders who are traveling or do not have access to a computer, and we
will continue to accommodate call-back requests for those bidders. Call Backs
work as follows: If you are the high bidder on any item after 4:00 PM EST on the
final day of bidding, you may request a “Call Back” on that item. This means
that if your bid should be topped, upon your request we will call you back. You
will be under no obligation to top the new high bid, but by using this service
it will not be necessary for you to keep calling to verify if you are still high
bid on a given lot. Using this service, if you don’t hear from us, you will know
that you have won your lot. When requesting a call back, please make sure you
give the attendant the phone number where you can be reached and the latest time
you wish to be called. It is your responsibility to be at the telephone number
you provide. Every effort is made to reach bidders making call back requests,
but if a bidder is not at the number provided, we will of course be unable to
successfully execute the call back request. The call back service is a
non-guaranteed service. While we have never missed a call-back in the past,
there is always the possibility of human or technical error. Call back requests
must be made by telephone.
“Up To” or “Limit” Bids
The placing of “Up To” or “Limit” bids is an option
for bidders. When placing such a bid you are instructing the auction house to
competitively bid on your behalf up to, but not exceeding, a given limit. The
bidding system will automatically execute “Up To” bids instantly after a bid
with an “Up To” bid has been topped. “Up To” or “Limit” bids must be calculated
in the proper bidding increments. “Up To” bids are kept in strictest of
confidence. “Up To” bids may be placed by telephone or internet. Internet
bidders placing “Up To” bids will be utilizing the “Honest Auto Bid TM” bidding
system feature, which provides bidders with a 100% certainty that absolutely no
one in the world, except the bidder, will be privy to the limit of your bid, or
even that you have placed an “Up To” bid on a given lot. See above for more
information regarding the “Honest Auto Bid TM” system feature.
Billing/Payment
Payment is due within 14 days of notification of lots
won. Please call to prearrange and to be approved for any type of payment
schedule, which can sometimes be arranged with a deposit and interest charges.
Any bidder who has not paid in full without having made prior arrangements for
late payment will have future bidding privileges revoked, and be responsible for
all losses and/or service charges incurred resulting from non-payment per the
terms and conditions of the auction. We accept personal checks. Checks are held
until funds are collected which takes 5-10 business days; it will take an
additional several business days after funds have been collected before shipment
will occur. We also accept cashier’s checks, certified checks, money orders or
wire transfers. These forms of payment are registered immediately and shipment
of items occurs as soon as possible, usually within days. No credit cards
accepted.
Auction Results
Please do not call regarding auction results in the
days immediately following the auction. Full results of the auction will be
available when the auction is over on our website at
www.RobertEdwardAuctions.com. Auction results will also be mailed upon request
to anyone sending a self-addressed stamped envelope. Complete auction results
will be mailed to all consignors and winners.
Authenticity
In addition to in-house specialists, Robert Edward
Auctions utilizes the leading experts in all specialty areas of collecting to
insure that all items are authentic and accurately described. In the field of
autographs, we rely on the highly respected expertise of James Spence
Authentication LLC, as well as various other noted specialists. In the field of
uniforms and bats, we rely on the highly respected authentication expertise of
David Bushing & Troy Kinunen of MEARS, as well as various other noted
specialists such as John Taube & Vince Malta of PSA/DNA. Robert Edward Auctions
utilizes the professional card grading services of PSA, GAI, BVG, and SGC.
Robert Edward Auctions consults with the most respected experts in all fields of
specialty. Robert Edward Auctions has earned an unrivalled reputation with
reference to all issues related to authentication. We invite inquiry regarding
the authentication process on any and all lots. Though very rarely an issue,
Robert Edward Auctions does not prohibit authenticators from consigning lots.
Robert Edward Auctions’ formal policy regarding consignments by authenticators
is the requirement that ownership or financial interest of all such lots be
clearly communicated in the lot description in all cases where such
authentication is cited in the lot description. Robert Edward Auctions will
assist bidders in any reasonable manner in having auction lots evaluated by
additional experts of their choice if desired. Robert Edward Auctions
appreciates all feedback relating to auction-related issues, especially
authenticity issues, and if necessary we welcome the opportunity to consider
feedback for the purpose of amending or correcting descriptions.
We hope you enjoy the auction. Thank you and Good
Luck!
INTERNET BIDDING SITE TERMS OF SERVICE LAWS:
These Terms of Service shall be governed by and construed in accordance with the
laws of the state of New Jersey. User and this Auction Site agree to submit to
the exclusive jurisdiction of the courts of the state of New Jersey. If any
provision(s) of these Terms of Service is held by a court of competent
jurisdiction to be contrary to law, then such provision(s) shall be construed,
as nearly as possible, to reflect the intentions of the parties with the other
provisions remaining in full force and effect. This Auction Site's failure to
exercise or enforce any rights or provisions of these Terms of Service shall not
constitute a waiver of such right or provision unless acknowledged and agreed to
by this Auction Site in writing. User and this Auction Site agree that any cause
of action arising out of or related to this Service must commence within one (1)
year after the cause of action arose; otherwise, such cause of action is
permanently barred. The section titles in these Terms of Service are provided
for reference purposes only and have no legal or contractual significance
DESCRIPTION OF SERVICE
Robert Edward Auctions, LLC provides its users with an Internet auction service
for the purpose of buying and selling personal property. Users agree to provide
certain current, complete, and accurate information about themselves and to
maintain and update this information as required to keep it current, complete
and accurate. All information requested on original sign up shall be referred to
as registration data ("Registration Data"). Furthermore, user grants this
Auction Site the right to disclose to third parties certain Registration Data
about User and Service membership in the aggregate; however, such disclosures
will exclude user's name, mailing address, email address, account and phone
number, unless: (1) User expressly directs this Auction Site to disclose such
information, or (2) this Auction Site is required to disclose such information
by any applicable law or legal process served on this Auction Site.
MODIFICATIONS TO TERMS OF SERVICE
This Auction Site may change these Terms of Service from time to time. Users
will be notified by email of any change in these Terms of Service. User's
continued use of the Service constitutes both: (1) their acknowledgment of these
Terms of Service and any modifications; and (2) User's agreement to abide and be
bound by these Terms of Service and modifications.
MODIFICATIONS TO SERVICE
This Auction Site reserves the right to modify or discontinue the Service with
or without notice to user. This Auction Site shall not be liable to users or any
third party should this Auction Site exercise its right to modify or discontinue
the Service.
TERMINATION
Should user object to any of these Terms of Service or any subsequent
modifications thereto or become dissatisfied with the Service in any way, user's
only recourse is to: (1) discontinue use of the Service; (2) terminate Service
membership; and (3) notify this Auction Site of termination.
USER ELIGIBILITY
Our services are available exclusively to individuals able to form legally
binding contracts under applicable law. Without limiting the foregoing, our
services are not available to minors. Furthermore, this Auction Site reserves
the right to refuse service to anyone for any reason whatsoever.
REGISTRATION & ACCOUNT SECURITY
Users agree to provide true and accurate information about themselves in the
registration form. If any information provided by user is incomplete or
inaccurate, this Auction Site retains the right to terminate user's membership
and rights to use the Service. As part of their registration, users will receive
a Bidder Number ID and Password. Users are encouraged to keep their Bidder
Number ID and Passwords private because the foregoing data is the only
information needed to place bids. Users are responsible for the confidentiality
of their Bidder ID and Password as well as for any and all activities that occur
under their Bidder ID and password-protected account. User agrees to immediately
notify this Auction Site of any unauthorized use of their Bidder ID or Password
or any other breach of security known to user.
USER CONDUCT
User is solely responsible for the contents of his or her transmissions through
the Service. Use of the Service is subject to all applicable local, state,
national and international laws and regulations. Attempts to gain unauthorized
access to other computer systems are prohibited. This Auction Site may, at its
sole discretion, immediately terminate Service should user's conduct fail to
conform to these Terms of Service and User Agreement.
OTHER LIMITATIONS
This Auction Site retains the right, at our sole discretion, to determine
whether or not a user's conduct is consistent with the letter and spirit of this
Agreement. This Auction Site reserves the right to terminate service if a user's
conduct is found to be inconsistent with these Terms of Service and User
Agreement.
BIDDING AND BUYING
Robert Edward Auctions, LLC has the right to establish general practices and
limits concerning users' bidding privileges and procedures. A user who has
entered the highest accepted bid at the end of an auction is obligated to
complete the transaction. Once entered, bids are NOT retractable. This Auction
Site and it's host are not responsible for bids not being processed or not being
accepted due to technical difficulties. Moreover, bid manipulation of any kind
is expressly forbidden. A seller is prohibited from placing bids or arranging to
have bids placed on behalf of seller, seller's agent or assigns. No shill
bidding is allowed. Buyers are prohibited from communicating with each other
with the purpose of manipulating the final purchase price of an item. Please
note that it is a violation of law to make bids in a false name or with an
invalid payment method, even if our software initially accepts such a bid. Be
aware that even if you do not give us your real name, your web browser transmits
a unique Internet address to us, which can be used by law enforcement officials
to identify you. Fraudulent bidders will be prosecuted to the fullest extent of
the law.
ACKNOWLEDGMENT AND ACCEPTANCE OF TERMS OF SERVICE As operated by Robert Edward
Auctions, LLC, this auction Service, is provided to you under the foregoing
Terms of Service and any operating rules or policies that may be published by
this Auction Site. The Terms of Service comprise the entire agreement between
Member and this Auction Site and supersede all prior agreements between the
parties, regarding the subject matter contained herein. By participating in the
registration process, you are indicating your agreement to be bound by all of
these Terms of Service.
DISCLAIMER OF WARRANTIES
USER EXPRESSLY AGREES THAT USE OF THE SERVICE IS AT USER'S SOLE RISK. THE
SERVICE IS PROVIDED ON AN "AS" AND & "AS AVAILABLE" BASIS. THIS AUCTION SITE
EXPRESSLY DISCLAIMS ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED,
INCLUDING, BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS
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USE OF THE SERVICE OR AS TO THE ACCURACY OR RELIABILITY OF ANY INFORMATION
OBTAINED THROUGH THE SERVICE OR THAT DEFECTS IN THE SOFTWARE WILL BE CORRECTED.
NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY USER FROM Robert
Edward Auctions, LLC THROUGH THE SERVICE SHALL CREATE ANY WARRANTY NOT EXPRESSLY
MADE HEREIN.
LIMITATION OF LIABILITY
Robert Edward Auctions, LLC OR ITS HOST SHALL NOT BE LIABLE FOR ANY
DIRECT, INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES, RESULTING FROM
THE USE OR THE INABILITY TO USE THE SERVICE, OR FOR COST OF PROCUREMENT OF
SUBSTITUTE GOODS AND SERVICES, OR RESULTING FROM ANY GOODS OR SERVICES PURCHASE
OR OBTAINED, OR MESSAGES RECEIVED OR TRANSACTIONS ENTERED INTO THROUGH THE
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TRANSMISSIONS OR DATA, INCLUDING BUT NOT LIMITED TO, DAMAGES FOR LOSS OF
PROFITS, USE, DATA OR OTHER INTANGIBLE, EVEN IF Robert Edward Auctions, LLC OR
ITS HOST HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. SOME
JURISDICTIONS DO NOT ALLOW THE LIMITATION OR EXCLUSION OF LIABILITY FOR
INCIDENTAL OR CONSEQUENTIAL DAMAGES SO SOME OF THE ABOVE LIMITATIONS MAY NOT
APPLY TO YOU.
NO RESALE OR COMMERCIAL USE OF THE SERVICE
Use of this Service is personal to Member. Member agrees not to resell or make
any commercial use of the Service, without the express written consent of Create
Auction LLC. Without limiting any other remedies, this Auction Site may
terminate your account if you are found (by conviction, settlement, insurance or
escrow investigation, or otherwise) to have engaged in fraudulent activity in
connection with our site.
INDEMNIFICATION
User agrees to indemnify and hold Robert Edward Auctions, LLC, its parents,
subsidiaries, affiliates, officers and employees, and likewise the host, its
parents, subsidiaries, affiliates, officers and employees, harmless from any
claim or demand, including reasonable attorneys' fees, made by any third party
due to or arising out of their use of the Service, a breach of this User
Agreement, or the infringement by user, or other user of the Service using
registered user's computer, of any intellectual property or other right of any
person or entity.
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