Severino Estate Auction

Terms

IMPORTANCE OF TERMS
Please take the time to read the following set of terms and conditions for the auction. By obtaining a Bidder Number, you acknowledge that you have read and agree to these terms and conditions.

CONDUCT OF THE AUCTION

AUCTIONEER
Leland J. Little, NCAL#6139; NCFL#7452. The auctioneer always reserves the right to withdraw or bid on a lot for any reason he deems appropriate, including any lots that may or may not have a reserve, or if there is a lack of bidding interest. Bid approval and acceptance on any bidding platform is at the sole discretion of the auctioneer.

CONDITION OF ITEMS BEING AUCTIONED
Leland Little Auctions, Ltd. ("LLA") has endeavored to accurately describe the items being auctioned, but all property offered for auction is strictly "as - is" "where - is" with all faults. All sales are final and no refunds are given. The sales records and recordings shall be conclusive. It is the bidder's responsibility to determine the exact condition/authenticity of each item. No statement in this catalogue or by representatives of LLA shall be considered as a warranty or assumption of liability. Written and oral descriptions given by LLA staff members are given as a courtesy to a client, are only an opinion, and should not be considered as a guarantee of age, composition, or authenticity. The absence of a condition statement does not imply that the lot is in perfect condition or completely free from wear and tear or imperfections. High resolution images are provided to assist a bidder in making an additional assessment of condition. By bidding, you signify that you have either closely examined the items, have chosen not to examine them, or have hired an independent agent to examine the item(s) for you. Condition reports are available via the online catalogue or by contacting the LLA office. The online catalogue including full descriptions, condition reports, dimensions, and multiple images for each lot is available at www.lelandlittle.com.

Without limiting the generality of the foregoing reservations regarding the condition of items being auctioned, the following additional reservations apply to specific categories of items being auctioned:

Estimated weights and measurements: Weights in catalogue description have been estimated through measurement and are to be used as approximate guidelines and not relied on as exact.

Jewelry: Unless otherwise stated, all stones have been measured and graded in their settings; therefore, the measurements and grading are approximate. Metal weight given for jewelry includes stones unless stated otherwise. Historically, many color gemstones have been treated to enhance color and/or to improve overall appearance. Unless otherwise stated and without a lab report, it is to be assumed that the gemstone has received some level of treatment. Lab reports will be referenced when available for the specific lot. Jewelry sold in our gallery has been previously owned and often lacks accompanying authenticity documentation. LLA is not responsible for securing a certificate of authenticity.

Luxury Handbags: In the event of a dispute regarding luxury handbags, LLA uses Entrupy for final authentication.

Silver: Weights provided for flatware services do not include knives and other pieces with silverplate or stainless portions.

Clocks and watches: No warranty that any clock or watch is in working order is given. Virtually all clocks and watches have been repaired in the course of their lifetime and may include parts not original to them. There is no guarantee to works or movement. Unless otherwise stated, weight includes works.

Frames: Fine art is often presented "framed." The value in fine art lots is derived from the art itself. While items are handled with great care, LLA accepts no liability for damage or loss to frames.

Alcohol: Bidder is responsible for reviewing and complying with all laws relating to the purchase of alcohol in their registered state.

Firearms: LLA makes no warranties or representations concerning the operation of firing condition, fitness for use, safety to store, or reliability of any firearm, ammunition, or parts. Firearms can only be transferred to the name of the buyer on the invoice, third-party FFL transfers are not possible. FFL Processing Fee is $30 per invoice.

BIDDER RESPONSIBILITIES
Bidders may create an account at LelandLittle.com. After signing in to the LelandLittle.com account, bidders must complete all necessary steps presented (including agreeing to Terms of Sale) in order to proceed with bidding. All domestic U.S. bids must be secured with a Visa, Mastercard, or American Express. International bidders must acknowledge wire transfer payment terms.

Bidders are responsible for any and all activity, bids, and purchases involving their account. Once a bid has been placed, it cannot be lowered or deleted by the bidder. LLA and its consignors shall not be held liable for negligent bidding activity. Bidder agrees to keep its username and password confidential.

BIDDING
Absentee and real-time internet bidding is available at LelandLittle.com. When absentee bidding, a bidder may accept the current asking bid or enter a maximum bid value. Real-time internet bidding does not allow a maximum bid to be entered; only the current asking bid may be accepted. Once a lot has opened for real-time internet bidding, absentee bids can no longer be placed. Notifications that absentee bids have been outbid will not be received by absentee bidders within five lots of any lot opening for real-time internet bidding.

Our Online-Only Auctions have a soft close and the countdown clock will communicate the time left to bid during real-time bidding. Any lot that receives a bid before the designated closing time will have its bidding time extended. Any and all lots will close either at the designated closing time or at such point that it has not received an advanced bid. LLA cannot be held liable for bids that are not sent or received by the server.

LLA will endeavor to execute all bids in a fair, competitive and confidential manner. While every effort is made to execute and honor bids, LLA is not responsible for failure to execute a bid and is not liable for any losses incurred as a result of failure to execute a bid. If you are bidding real-time online at LelandLittle.com, please bid quickly as there may be a time delay in receiving the real-time bid. Whether bidding via absentee or real-time, a confirmation will be required to finalize your bid. All bids are time stamped. In case of identical bids, the first bid received will take precedence. Where appropriate, bids will be rounded down to the nearest amount consistent with the auctioneer's bidding increments. It is the bidder's responsibility to accurately record the lot number and bid amount on any bids submitted. LLA assumes no responsibility or liability in the event a bidder fails to do so.

LLA BID LIMITS
Bidders with less than one year of purchase history with LLA ("First-Year Participants") will be limited to a maximum of $25,000 in cumulative bids. Bidders may contact the front office for assistance with increasing their bid limit prior to the auction. A wire transfer deposit will be required. Domestic, U.S. bidders must request a bid limit increase 24 hours in advance of the auction. International bidders must request a bid limit increase 72 hours in advance of the auction. Wire transfer deposits must be received the business day prior to the auction. LLA cannot be held liable for wire transfer deposits that are not received prior to the auction in order to satisfy the bid limit increase.

BIDDING THROUGH THIRD-PARTY WEBSITE(S)
Bidding is also available via third-party website(s), with the exception of Vehicle Auctions. Please be advised that proper time is required to review and respond to registration inquiries received through third-party websites. Additional information may be required to proceed with registration approval, including a wire transfer deposit or auction references. Participants with limited purchase history will be subject to a bidding limit.

Current bids on the internet will be executed on your behalf during the auction. Bids left on third-party websites are not presented to us or executed until a lot is offered real-time and the order in which they are received is not a factor. Each lot will open with the current high-bid received on the LelandLittle.com website and bidding will progress from that point. LLA cannot be held liable for bids submitted on a third-party website that are not sent, received, or executed by the administrator. If you are bidding real-time online through a third-party website, please bid quickly because there is a time delay in receiving live bids.

BUYER'S PREMIUM
Absentee bidding, and real-time internet bidding is available at LelandLittle.com with a 20% buyer's premium above the hammer price, with the exception of Vehicle Auctions for which the buyer's premium is 10%. Should a bidder prefer, bidding is also available on a third-party platform (NOT LelandLittle.com) with a 25% buyer's premium above the hammer price (excluding Vehicle Auctions).

RESTRICTED MATERIALS
An export or import license may be required for the export or import of your Purchased Lot to your designated destination. It is your sole responsibility to familiarize yourself with International, U.S. Federal and State laws or requirements regarding the necessary export, import, or other permit required. In addition, many countries prohibit or limit the import of property made of or incorporating plant or animal material, such as coral, crocodile, ivory, whalebone, Brazilian rosewood, rhinoceros' horn or tortoiseshell, irrespective of age, percentage or value. We make no representations or warranties as to whether any lot is or is not subject to export or import restrictions or any embargoes and will have no responsibility with regard to these matters. You represent, warrant and covenant that, before bidding on a lot, you have examined to your satisfaction whether a license is required to bring the lot to your designated destination or any other area of interest to you. It is solely your responsibility to comply with these laws and to obtain any necessary export, import and endangered species licenses or permits.

Bidders on alcoholic beverages represent that they are at least twenty-one (21) years of age and are purchasing the property for personal use. They understand that various jurisdictions may impose limitations on the quantity of wine, spirits, or alcoholic beverage products that a Buyer may purchase and bring into their jurisdiction. They are aware that various jurisdictions may require a Buyer, a consignor, or shipper of wine, spirits, or alcoholic beverages to possess certain licenses or permits.

Alcohol sold by LLA may be subject to Import Duties. Buyer is solely responsible for any and all Import Duties that may apply. Property sold at auction may be subject to laws governing exportation (herein "Export Duties"). LLA makes no representation as to the legal rights of anyone to export alcoholic beverages or other Property into any state or jurisdiction. It shall be the Buyer's sole responsibility to determine -- before bidding at auction -- whether an export permit or license or any other government approval of any nature is required for the Buyer's purchase and to obtain any such required permit or license. The denial of, or delay in obtaining, any such permit or license shall neither justify the rescission of any sale nor any delay in making full payment for the purchase.

PURCHASE, SALE, AND PAYMENT

OWNERSHIP
Item ownership is conveyed immediately following the fall of the Auctioneer's hammer, and title passes in North Carolina. Items bid on or purchased through LLA cannot be re-offered via any market until full payment has been received and property has been removed from the gallery. While we try to handle and store items with great care, LLA will have no liability for any loss or damage to an item after the hammer has fallen.

PAYMENT
Invoices are sent to the registered email address of the bidder at the conclusion of the auction after sales records have been verified. Payment is due immediately upon receipt of invoice, and in all events winning bids must be paid no later than five (5) business days following the auction date. Payment may be made by cash, wire transfer, ACH (eCheck), Zelle, PayPal, Venmo, Visa, MasterCard, American Express, Google Pay or Apple Pay with a domestic U.S. billing address, except as limited herein. First-Year Participants with invoices containing jewelry, silver, or coins must make payment by cash, wire transfer, ACH (eCheck), or Zelle. Automobile invoices must be paid via wire transfer. Modern firearm invoices must be paid by Zelle or wire transfer, or in person via cash. FFL Processing Fee is $30 per invoice. If paying by ACH (eCheck), LLA reserves the right to hold the item(s) up to 3 business days to confirm that the payment has not been returned or reversed. Federal law requires we report payments above $10,000 made by cash or certain other cash equivalents, such as money orders. Credit card, PayPal, Venmo, Google Pay and Apple Pay payments are subject to a $15,000 limit and a 3% convenience fee will be included, which may be taxable. International (non-domestic United States) bidders will be required to pay by wire transfer, ACH (eCheck), or Zelle; any associated fees will be incurred by the buyer. At the auctioneer's discretion, certain lots will be required to be paid for by wire transfer.

With the exception of: First-Year Participants with invoices containing jewelry, silver, or coins; automobile invoices; and invoices containing modern firearms; if a buyer fails to contact LLA within five (5) business days following the auction, the credit card used to secure the bid will be charged the amount of the invoice and will include the 3% convenience fee. LLA will contact buyers to pursue payment if necessary; however, payment resolution is the responsibility of the invoiced buyer. Non-payment issues will be reported to third-party bidding platforms and will result in suspension of the buyer's bidding privileges. LLA reserves the right to recover the costs and fees necessary to secure payment from the buyer prior to providing the purchased items to the buyer. Should timely payment not be received in the manner requested or should the buyer be suspected of fraudulent registration, the buyer will be in breach of these terms and LLA reserves the right to pursue all legal remedies, including damages for LLA's lost revenues or commissions.

SALES TAX
LLA collects and remits applicable sales tax on all items purchased by residents of North Carolina and certain other states, as and where required by law unless a buyer provides a valid certificate of exemption from sales tax. Buyers will pay North Carolina sales tax for all purchases picked up at the Gallery or received in North Carolina. For purchases shipped outside North Carolina using a certified transportation vendor, buyers will pay any sales tax LLA is required to collect for another state unless that buyer provides a valid certificate of exemption. Please note that LLA may be required to identify to state tax authorities any buyer for whom it does not collect sales tax, and further that such a buyer may be liable to pay applicable use tax.

Please note that for wine, spirits or other alcohol products, all purchases are collected by the buyer or their agent at our Hillsborough, NC facility. Therefore, Orange County, NC sales tax is collected on all alcohol sales. LLA is not a licensed distributor of alcohol, so no sales tax exemption for resale applies.

RIGHT TO RESCIND
If the total invoice price of any item is not received by LLA within fifteen (15) business days after the sale, LLA may elect to rescind the sale of such item. If LLA, in its sole discretion, suspects the buyer of fraudulent registration or believes the buyer is in breach of these terms, LLA may rescind the sale of any item. LLA also shall have the right to withdraw any item from sale or to rescind the sale of any item if LLA, in LLA's sole discretion, determines that the offering of the item for sale or the sale of the item has subjected or may subject LLA or any of its consignors to any liability. In the event an invoice is rescinded, disputes posted on third-party websites will remain active.

POST-AUCTION STORAGE, LOADING, AND SHIPPING

STORAGE
The removal of property is requested as soon as possible after the auction date. Items remaining at LLA thirty (30) calendar days after the auction date shall be subject to a $10.00 per lot per day storage fee, which shall be charged to the buyer at the time of pick up. For any property remaining at LLA thirty (30) calendar days after the auction, Buyer will be deemed to have hereby granted to LLA a security interest in such property and agreed that LLA may retain such property as collateral security for Buyer's obligations to LLA. In addition to any other rights or remedies LLA has by law, LLA may (i) exercise all rights and remedies of a person holding security over Buyer's property; (ii) sell the property in any way LLA believes, in its sole discretion, to be reasonably appropriate and pay Buyer the balance of the price realized after deduction of all amounts due to LLA; and (iii) take any other action LLA deems necessary or appropriate. NOTE: Any property remaining at LLA ninety (90) calendar days after the auction will be deemed to have been abandoned and may be sold or disposed of by LLA, at its sole discretion, without liability to Buyer.

LOADING
Loading purchased items is the responsibility of the buyer. As a courtesy, LLA may assist with the loading following the sale, but this is done at the risk and responsibility of the buyer. Buyers who wish to arrange their own labor may contact the front office to schedule a time during normal business hours. LLA will have no liability for any damage while providing loading assistance. Buyers are welcome to hire a professional shipping or moving company to assist with loading, packing, or shipping.

SHIPPING & PICK UP
Winning bidders can either request in-house LLA shipping assistance (except for wine, spirits, and other alcohol products; see below) or arrange shipping or pick up themselves.

LLA Shipping Assistance: LLA works in partnership with ARTA to fulfill shipments of most of the items we sell. When shipping through our service provider, you authorize LLA to act as your agent, to sign any such documents required, and agree to fully indemnify LLA for any claims made by ARTA. ARTA rates are final and cost is based on the purchase(s) and delivery address. Post-auction quotes will include local collection, custom packaging, transportation and full risk insurance. International shipping rates do not include duties or taxes, which are due upon arrival in the destination country. Post-auction quotes are valid for thirty days. Pre-auction estimates are available at lelandlittle.com. The estimate you receive may not reflect actual shipping cost post-auction. Exact pre-auction quotes may be requested with the front office.

ARTA will send a booking confirmation 1-2 business days after payment is received. Once confirmed, ARTA Parcel orders will take 3-5 business days to be collected and packed, tracking will then be provided indicating delivery. ARTA Premium/Select orders will take 2-4 weeks from date of confirmation to delivery. Subsequent emails will be sent when objects are collected and when packages are shipped. Tracking for common carriers will be included, when applicable. ARTA Parcel delivers through UPS, DHL or FedEx. ARTA Select provides nationwide white glove transport for large pieces, with in-home ground level delivery. ARTA Premium is a specialized fine art service for high value objects requiring extra care. Insurance is full risk, covering any conditions acquired in transit. Shipments that are In Transit can be subject to additional fees if there is a request to edit the delivery location or delivery schedule.?Insurance covers the total shipment value and shipping charges paid, excluding duties and taxes paid to customs. Insurance must be booked prior to collection. Specializing in one of a kind unique objects, ARTA will prioritize restoration in resolving an insurance claim when possible. Claims must be submitted within seven days of delivery. ARTA's full insurance policy is available at https://arta.io/insurance. If ARTA insurance is declined, ARTA's liability for loss/damage to objects during any contracted services is limited to a maximum of $50 per shipment or $0.60 per pound. Packaging must comply with ARTA's minimum requirements; if alternative packing is requested by a client ARTA will decline insurance or provide a Hold Harmless agreement outlining revised liabilities. Modifications to the framing (e.g. removal from frame), mounting or folding of an artwork will not be available.

Please be advised that items are not automatically shipped following the auction. If shipping arrangements cannot be completed online, please contact the front office for assistance. We cannot combine invoices for shipment; the quotes are prepared on a per invoice basis. For all shipments, any and all additional charges are the sole responsibility of the buyer. All packing, handling, shipping, and delivery services are performed at the sole risk of the buyer. LLA assumes no legal or financial responsibility and is free from all liability associated with completing your shipping request through ARTA.

Shipping Modern Firearms: Shipping is available in-house through UPS only and must route to a registered Federal Firearms Licensee. LLA is unable to use a third-party account for shipping. Shipments will carry full insurance with an adult signature required. Packaging cost is $50 per box, in addition to UPS shipping and insurance rates.

Coordinating your own Shipping or Pick Up: When arranging shipping or pick up through another vendor or third-party of your choice, we require that you complete our Authorized Release Form, which is available online. This form authorizes us to release your purchased items to the requested party. We will not release your lot(s) to any shipping vendor or third-party until we have received this form and payment has been made in full. All packing, handling, shipping, and delivery services are performed at the sole risk of the buyer. LLA assumes no legal or financial responsibility and is free from all liability associated with fulfilling your release request. Please note: if your shipper is not a registered common carrier, Hillsborough, NC sales tax will apply, rather than destination sales tax.

Please note that shipment or pick up is the sole responsibility of the buyer. If you reside in a state or country that has import restrictions or regulations, it is your responsibility to obtain appropriate licenses to ship your purchased items.

SHIPPING & PICK UP OF WINE AND SPIRITUOUS LIQUORS

LLA does not ship any wine, spirit, or alcoholic beverage product. Any such products sold in our auctions are sold in North Carolina, and title passes to you, the buyer, in North Carolina at the time of sale. Many states and the District of Columbia have enacted laws that regulate inbound shipments of wine and other alcoholic beverages purchased in another state. Such shipments may be a crime unless a permit or license is obtained.

LLA makes no representation with respect to the legality of shipping or transporting any alcoholic beverage products into any jurisdiction. LLA does not bear any responsibility in the event that the quantity of alcoholic beverage property purchased exceeds the quantity that may lawfully be purchased and brought into a Buyer's jurisdiction. Since these laws may affect your purchase of alcohol, we urge you to investigate the laws in your state regarding this subject prior to bidding on any alcohol in our auctions. Buyers (not LLA) are the owners and shippers of all alcohol purchased in North Carolina in our auctions.

LLA recommends personal pick up of wine, but if a Bidder wishes to arrange delivery after purchase, an agent may be appointed for pick up. Some agents may have the necessary licenses to ship wine, however, LLA makes no representations as to the ability of any company to legally ship wine. If a Bidder chooses to appoint an agent to pick up wine and assist with shipping, Bidder bears all risk of loss after pick up. Wine being shipped on the buyer's agent's account is only covered by LLA's insurance policy until it leaves the LLA warehouse, not while in transit. Neither LLA nor its agents assume responsibility for any deterioration resulting from shipment, which includes, but is not limited to: scuffed labels, cracked wax capsules or minor seepage. Due to the fragile nature of vintage wine, LLA strongly recommends that Purchasers arrange for collection from LLA. LLA requires two business days' notice to schedule pick up of wine and/or spirituous liquor.

Alcohol buyers must warrant that they are at least 21 years of age, and that the alcohol will be received by someone that is at least 21 years of age. Upon delivery, the recipient will be required to show photo identification proving that he or she is at least 21 years of age; delivery will not be executed without a signature from the recipient. Photo identification must be presented at the time of collection. When arranging pick up through a third-party of your choice, we require that you complete our Authorized Release Form in advance of their arrival, which is available online. We will not release your lot(s) to any third-party until we have received this form and payment has been made in full.

LLA strongly advises Buyers to check weather conditions when arranging transport of wine by an agent. It is not recommended to ship during hotter months (i.e., late May through late September). During these months we are happy to offer complimentary wine storage in our temperature controlled cellar at no charge for up to 6 months. After 6 months, a storage fee of $5 per bottle per week will be applied and must be paid in full before wine can be released for pick-up. Please note that if your wine has been stored with us for longer than one year and you have not contacted us to make storage arrangements, we will consider the wine abandoned.

ADDITIONAL TERMS

DISPUTES
Any and all disputes resulting or arising in connection with this sale shall be heard in the General Court of Justice of Orange County, North Carolina, as the sole and exclusive venue. In any such action, the prevailing party shall be entitled to an award of its costs and expenses, including reasonable attorneys' fees, incurred in connection with such action.

LEGAL INTERPRETATIONS
This document will be interpreted under the laws of the State of North Carolina and the United States Code.

BIDDING INCREMENTS
(Lower Level - Upper Level: Bid Increment)
$0 - $500 : $25
$500 - $1,000 : $50
$1,000 - $5,000 : $100
$5,000 - $10,000 : $250
$10,000 - $20,000 : $500
$20,000 - $100,000 : $1,000
$100,000 - $300,000 : $5,000
$300,000 - and up : $10,000