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Please fax completed Proxy Bid Forms to (323) 957-9025
To allow time for processing, bids must be received by 5:00 pm PST, Wednesday, May 21, 2008.

To allow time for processing, bids must be received by 5:00 pm PST, Wedndesday, 21 May 2008. LACE will confirm all bids received by return fax or return email.  If you have not received  our confirmation within one business day, please resubmit your bid(s) or contact:  Franco Castilla, Director of Operations (323) 957-1777 x 17. If you submit a bid on the day before the auction(5/21) by 5:00 pm PST, please contact us immediately to confirm that we received it.

LACE will confirm all bids received by return fax or return email.

If you have not received our confirmation within one business day, please resubmit your bid(s) or contact:
Franco Castilla, Director of Operations (323) 957-1777 x 17 or e-mail administration@artleak.org

The following Conditions of Sale are the complete and only terms and conditions of which all property is offered for sale.

The property listed in this document will be offered and sold by Los Angeles Contemporary Exhibitions (LACE). Any questions should be directed to LACE and not to the auctioneer, who serves only as agent for LACE in conducting the auction sale.

The Conditions of Sale as well as the purchaser’s and our respective rights and obligations hereunder shall be governed by and construed and enforced in accordance with the laws of the State of California. By bidding at an auction, whether present in person or by an agent, order bid or other means, the purchaser shall be deemed to have consented to the jurisdiction of the state and federal courts of the State of California.

Unless otherwise announced by the auctioneer at the time of sale, all bids are per lot as numbered in on the checklist.

We reserve the right to withdraw any property before sale.

We reserve the right to reject any bid. The highest bidder acknowledged by the auctioneer shall be the purchaser. In the event of any dispute between bidders, or in the event of doubt on our part as to the validity of a bid, the auctioneer shall have sole and final discretion either to determine the successful bidder or  to reoffer and resell the article in dispute. If any dispute arises after the sale, the records of LACE shall be conclusive in all respects. Although we may execute proxy bids as a convenience to those not present at auction, we are not responsible for omissions therewith.

If the auctioneer determines that any opening bid is not commensurate with the value of the article offered, he may reject the advance.

On the fall of the auctioneer’s hammer, the highest bidder shall be deemed to have purchased the offered lot subject to all of the conditions set forth herein and thereupon assumes full risk and responsibility for the lot, will sign a confirmation of purchase of the lot, and will pay the full purchase price as acknowledged. All checks should be made payable to Los Angeles Contemporary Exhibitions.

The purchaser will be required to pay the California state and local sales tax or any applicable compensating use tax of another state on the total purchase price. The rate of such combined tax is 8.25%. The tax deductibility of any purchase should be taken up with your accountant.
All property shall be removed from the premises by the purchaser at his/her expense no later than five (5) business days following its sale. If not so removed, it will be sent at the expense of the purchaser to the purchaser at the account, risk, and expense of the purchaser, and such added charges will then be added to the purchase price of the object. If the foregoing conditions and other applicable conditions are not met, in addition to other remedies legally available to LACE, including without limitation the right to hold the purchaser liable for the bid price, LACE at its option may either cancel the sale, retaining as liquidated damanges all the payments made by the purchaser, or resell the property on three days notice to the purchaser and for the account and risk of the purchaser, either publicly or privately. In such event the purchaser shall be liable for payment of any deficiency, all other charges due hereunder, and incidental damages. We are not responsible for acts of omissions of carriers or packers of purchased lots, whether or not recommended by us. Packing and handling of purchased lots by LACE is at the entire risk of the purchaser. In no event will our liability to a purchaser exceed the purchase price actually paid.

We assume no responsiblity for the authenticity or the authorship of any propery listed herein (that is, the identity of the creator or the period, culture, source or origin, as the case may be, of the property). All property is sold “as is,” and we make no warranties or representations of the correctness of importance, provenance, exhibitions, literature or historical relevance of the property and no statement anywhere, whether oral or written shall be deemed such a warranty or representation. Prospective bidders should inspect the property before bidding to determine its condition, size, and whether or not it has been repaired or restored. We make no representation or warranty as to whether the purchaser acquires any reproduction rights in the property.