Lot #103 GREMLINS 2: THE NEW BATCH (1990) - 'Flasher' Gremlin Trench Coat with Watches

CONTRACTS

All accepted bids are contracts and are considered final and non withdrawable.

BUYER'S PREMIUM

A buyer's premium of 20% will be applied to all purchases.

ONLINE BIDDING

The person posting the bids online has to be the person who has registered for the auction.

Terms & Conditions

These Terms and Conditions of Sale (“Conditions”) set out the agreement between the Bidder/Buyer and Prop Store and the Seller. By registering to bid and participate in a Prop Store Auction, you will be deemed to have read and agreed to be bound by these Conditions and the accompanying Buyer’s Guide, as set forth in the catalog for the Auction and online at www.propstore.com.

In the event of any conflict between the Conditions and the Buyer’s Guide, the Conditions shall take precedence.

1. Definitions

When the following capitalized words or terms are used in these Conditions, they shall mean:

2. Catalog Descriptions and Conditions of Lots

2.1.         All Lots are sold subject to their condition at the date of the Auction.  The nature and age of the Lots mean they are often unique and are likely to have wear and tear, damage and other imperfections and may have been totally or partially restored or repaired.  By making a bid, the Bidder accepts the actual condition of the Lot and acknowledges that if a bid is successful, the Buyer will buy the Lot “as is.”

2.2.         Prop Store’s staff are not professional restorers so descriptions of Lots, images and statements of condition in Prop Store’s catalog or on its website are for illustrative purposes only.  Prop Store cannot guarantee that colors are properly shown.  Save for Prop Store’s Terms of Guarantee of Attribution, all Lots are sold “as is.”  Bidders are encouraged to inspect Lots and satisfy themselves as to their condition before bidding, seeking and obtaining independent professional advice where required.

2.3. Condition reports are available for each Lot upon request.

3. Before the Auction

3.1. Bidder Registration

3.1.1. Every person or Company wishing to make a bid in the Auction is required to register with Prop Store before participating at an Auction.

3.1.2. To register, each person or Company must complete and return a bidder registration form available in this Buyer’s Guide or online at www.propstore.com, which must include a valid Visa, MasterCard or American Express credit card details to be held on file.

3.1.3. Each person registering to bid must also provide Prop Store with up–to-date, valid government-issued photo identification (e.g. passport, driver’s license) and proof of current address (such as a utility bill or bank statement dated within the last three months).

3.1.4. Each Company registering to bid must provide a certified copy or original articles of incorporation, articles of organization, or other documents satisfactory to Prop Store – contact Prop Store at +1 818 727 7829 for confirmation of what will be acceptable.

3.1.5. Any person seeking to participate in the Auction as an agent on behalf of a registered principal must complete and submit an Agent Information Form, and provide an up-to-date, valid government-issued photo identification (e.g., passport, driver’s license), as well as a written authorization from the principal confirming the agent’s authority to participate at the Auction on the principal’s behalf.

3.1.6. Prop Store will hold all personal information provided by the Bidder at registration and the Bidder agrees and consents to such information being used by Prop Store to:

3.1.6.1. Ship Lots purchased at Auction to the Buyer;

3.1.6.2. Process the Buyer’s payment;

3.1.6.3. Conduct credit checks, as deemed necessary by Prop Store in its sole discretion; and/or

3.1.6.4. Inform the Bidder about other auctions, products and services provided by Prop Store and its affiliates (please contact Prop Store by email at enquiries@propstore.com or by phone +1 818 727 7829 if you do not wish for your information to be used for such a purpose).

3.1.7. By participating in and/or attending the Auction and signing the registration form, each Bidder consents to be filmed and/or photographed and agrees and authorizes Prop Store to use and publish such film and/or photographs and likeness for use in (1) providing online access to the Auction, (2) recording the results of the Auction, (3) print, digital, online and all other media for marketing purposes (including without limitation, on Prop Store’s website, YouTube and other online platforms) and (4) in any other Prop Store publications of whatever nature.  The Bidder releases Prop Store and holds it harmless from any reasonable expectation of confidentiality or privacy associated with such images and releases Prop Store and any third parties involved in the making, creation or publication of the images or any marketing or other materials derived therefrom from all and any liability for claims made in respect of such publication. Publication of the images in whatever format confers no right of ownership on the individual or right to royalties or payment.

3.2. Pre-Auction Viewing

3.2.1. During the Pre-Auction Viewing period, as set forth in the Auction catalog, any Bidder may preview Lots free of charge by appointment with Prop Store.

3.3. Delivery Costs

3.3.1. At Bidder’s request, without any liability therefor, Prop Store can provide shipping estimates before the Auction.  Any Bidder requesting this information should email shipping@propstore.com including the Lot number and shipping address at least 5 days before the start of the Auction.

3.4. Bidders Outside the US. 

3.4.1. If the Bidder is located outside the United States, it is the Bidder’s sole responsibility and obligation to ensure in advance of the Auction that any Lot purchased in the Auction can be exported from the United States and imported into the country of destination.  No sale will be canceled because the Lot may not be imported into the country of destination.  PackAir Airfreight, Inc., a third-party independent freight vendor, can advise Bidders on relevant export licensing regulations and may submit export license applications upon request.  Neither Prop Store nor PackAir Freight, Inc. can guarantee that any licenses, permits or consents will be granted, and shall have no liability arising out of or relating thereto.

4. At the Auction

4.1 No Reserve Auction

4.1.1 This is a No Reserve auction.  Pre-sale estimates are intended as guides for prospective bidders and Prop Store makes no representation or warranty of the anticipated selling price of any Property.  No estimate anywhere in any media by Prop Store of the selling price may be relied upon as a prediction of the actual selling price. Notwithstanding the same, until the start of the Auction by the auctioneer, Prop Store may, in its sole discretion, withdraw any Lot from sale at Auction.

4.2 Bidding Process

4.2.1. Prop Store reserves the right to refuse admission and/or participation at the Auction and to reject any bid.

4.2.2. Bids may not be accepted from unregistered bidders and all Bidders must be 18 or over.  All bids must be made in US dollars.

4.2.3. When making a bid, every Bidder acknowledges that such bid is a binding offer to buy the Lot at that price (plus the Buyer’s Premium, the Buyer’s Expenses (if applicable), Credit Card Fee (if applicable), all applicable taxes, and any and all shipping charges, storage fees and/or other costs).

4.2.4. All bids are by individual Lot unless the auctioneer states to the contrary during the live Auction.  Lots will usually be sold in their numbered sequence, unless the auctioneer announces otherwise at the Auction.

4.2.5. The auctioneer may accept bids from Bidders present in the sale room, via telephone, or via online at the time of the Auction.  The auctioneer may also accept proxy or absentee bids delivered to Prop Store before the start of the Auction.  Proxy or absentee bids must be submitted either by using the form in the Buyer’s Guide or the online form at www.propstore.com.  Proxy or absentee bids will be executed at the lowest possible price.  If Prop Store receives proxy or absentee bids on a particular Lot for identical maximum bids, and at the Auction these are the highest bids on the Lot, it will be sold to the Bidder whose written bid was first received by Prop Store.

4.2.6. Any Bidder wishing to place bids at the time of the Auction via telephone must provide to Prop Store a list of Lots on which they intend to bid at least 24 hours before the start of the Auction. 

4.2.7. In addition to Prop Store’s Conditions, any Bidder placing bids online must comply with the terms for use of the online auction platform access provider.  Any winning bid placed online shall be subject to the Buyer’s Expenses.

4.2.8. Except as expressly stated in the Buyer’s Guide or the Conditions, Prop Store shall have no liability arising out of or related to any errors or omission in respect of bids made online, by telephone or by proxy.

4.2.9. The Auction will be tracked on a video or digital screen, which may display, among other things, a photograph of the Lot offered for sale and the then-current bid.  Bidders understand and agree that errors may occur in its operation and, except as expressly stated in the Buyer’s Guide or these Conditions, Prop Store shall have no liability arising out of or related to any errors or omission in respect thereto.

4.3 Auctioneer's Authority

4.3.1. The auctioneer has the right to exercise reasonable discretion in refusing any bid, advancing the bidding in such a manner as he or she may decide, dividing any Lot, combining any two or more Lots and, in the case of error or dispute, and whether during or after the sale, determining the successful Buyer, continuing the bidding, cancelling the sale or reoffering and reselling the Lot in dispute. If any dispute arises after the sale, then, in the absence of any evidence to the contrary the sale record maintained by the auctioneer will be conclusive.

4.3.2. The auctioneer shall have sole discretion to accept or decline any bid.

4.3.3. Subject to the auctioneer’s reasonable discretion, the Bidder placing the highest bid accepted by the auctioneer will be the Buyer and the striking of his hammer marks the acceptance of the highest bid and the conclusion of a contract for sale between the Seller and the Buyer.  Each Bidder understands and agrees that Prop Store, as auctioneer, is not a party to any contract for sale that results from the Auction.  Risk and responsibility for the Lot (including frames or glass where relevant) passes to the Buyer upon the fall of the hammer and the Buyer should arrange insurance cover for the Lot if required.

5. After the Auction

5.1. Payment by Buyer

5.1.1. Prop Store will notify the Buyer and send (by email unless requested otherwise) a payment invoice setting out the Purchase Price and itemizing the Hammer Price, the Buyer’s Premium, and if applicable Buyer’s Expenses, plus any applicable sales tax, within 7 business days of the end of the Auction.  For all sales within California, sales tax at the prevailing rate (currently 9%) will be applied to the Purchase Price.  Delivery addresses outside California will be exempt from sales tax.

5.1.2. Payment of the invoice is due within 7 business days from receipt of the invoice and must be made by the Buyer.  Payments from any other source will not be accepted and shall be returned by Prop Store.

5.1.3. Payment plans may be available in 1, 2, or 3 month increments.  Buyers wishing to utilize the payment plan service, if approved by Prop Store, shall be required to pay a deposit of 20% of the Purchase Price (the “Deposit”), within 7 calendar days of being invoiced.  The balance of the Purchase Price shall then be split over 1, 2 or 3 months, at the Buyer’s option.  The payments of the remaining balance shall be made as follows:

5.1.3.1. If the 1-month payment plan is selected, the balance of the Purchase Price shall be due within 30 days of the close of the Auction.

5.1.3.2. If the 2-month payment plan is selected:  40% of the Purchase Price shall be due within 30 days of the close of the Auction; 40% of the balance of the Purchase Price shall be due within 60 days of the close of the Auction.

5.1.3.3.  If the 3-month payment plan is selected:  26.66% of the Purchase Price shall be due within 30 days of the close of the Auction; 26.66% of the balance of the Purchase Price shall be due within 60 days of the close of the Auction; and 26.68% due within 90 days of the close of the Auction.

5.1.4. Prop Store offers no grace period on payment plan deadlines. If the Buyer does not adhere to payment deadline as set forth above, the Buyer shall be deemed to be in default.  In the event of default all funds already paid to Prop Store shall be retained by Prop Store as liquidated damages.  Moreover, Prop Store and/or the Seller shall also be entitled to any other remedies available, whether in law or equity.

5.1.5. No title to any Property shall pass to the Buyer except upon payment in full of the Purchase Price, and any and all other sums due to Prop Store and/or the Seller, even in circumstances where Prop Store has released the Lot to the Buyer.  Among other remedies available to Prop Store and the Seller for failure to render full payment of the Purchase Price, Prop Store and/or the Seller shall be entitled to immediate possession of the Lot purchased by the Buyer, if delivered to the Buyer.

5.1.6. Prop Store vouchers and other discount codes are not valid as payment for auction items. 

5.1.7. Only the memorabilia item(s) shown in the photos of a given product listing is included in the sale.  Mannequins, display stands, and scale measures are not included with your purchase, unless expressly stated in the product description.

5.1.8. The Buyer agrees that Prop Store will charge the credit card provided at registration for all items purchased at auction, and any future Prop Store auctions in which the Buyer participates if not paid within 7 calendar days after invoicing.

5.1.9. The Buyer shall be charged in US Dollars for the Purchase Price.  For all sales within California, sales tax at the prevailing rate (currently 9%) will be applied to the Purchase Price.  Delivery addresses outside California will be exempt from sales tax.

5.1.10. Payment must be in US dollars and may be made by electronic transfer, debit card, credit card (up to a maximum of $25,000), bankers draft or check (drawn on a US bank account – note check clearance can take between 5 and 10 working days), or cash (up to a maximum of $5,000).  Please note that the Credit Card Fee will be charged and payable in addition to the Purchase Price on any amounts paid by credit card.  Please quote the Lot number, invoice number and Bidder registration number when making payment to ensure it can be processed as efficiently as possible.

5.1.11. If payment is made by credit card, the Buyer expressly agrees that such payment is nonrefundable nor may be credited to any other purchase, and that the Buyer will not undertake any action or effort to stop payment, seek a refund, or attempt a charge back of such amounts – or any Credit Card Fee assessed thereon – by the issuer of the credit card.

5.2 Default by Buyer

5.2.1. Failure to timely make payment of any amounts due to Prop Store and/or the Seller shall constitute an event of Default by the Buyer.  In the event of Default for nonpayment, Prop Store may charge interest on the unpaid amount at the rate of 5% a year above the base lending rate of Bank of America from time to time.  The base lending rate shall be the average lending rate of Bank of America for the 6 months preceding the date of default.  If such interest rate exceeds the legal rate permitted by law, then the maximum legal rate permitted by law shall apply.  This interest shall accrue on a daily basis from the due date until the date of actual payment of the overdue amount.  The Buyer must pay Prop Store interest together with any overdue amount.

5.2.2. If any applicable conditions herein are not complied with (to a material extent), the Buyer will be in Default and in addition to any and all other remedies available to Prop Store by law, including, without limitation, the right to hold the Buyer liable for the total Purchase Price, including all fees, charges and expenses more fully set forth herein, and as set forth in section 4.2 herein, Prop Store, at its option and to the extent permitted by law, may (i) cancel the sale of that, or any other items sold to the defaulting Buyer, retaining as liquidated damages all payments made by the Buyer, (ii) resell the purchased item, or (iii) effect any combination thereof.  In any case, the Buyer shall be liable for any deficiency, any and all costs, handling charges, late charges, expenses of both sales, legal fees and expenses, collection fees and incidental damages.

5.2.3. Prop Store may, in its sole discretion, apply any proceeds of sale then due or thereafter becoming due to the Buyer from Prop Store or any affiliated company, or any payment made by the Buyer to Prop Store or any affiliated company, where or not intended to reduce the Buyer’s obligations with respect to the unpaid item or items, to the deficiency and any other amounts due to Prop Store or any affiliated companies.  In addition, a defaulting Buyer will be deemed to have granted and assigned to Prop Store and its affiliated companies, a continuing security interest of first priority in any property or money owing to such Buyer in our possession or in the possession of any of its affiliated companies, and Prop Store may retain and apply such property or money as collateral security for the obligations due to Prop Store or to any affiliated company.  Payment will not be deemed to have been made in full until Prop Store has collected good funds.

5.2.4. Prop Store may further reject at any future auction any bids made by or on behalf of the Buyer or to require a deposit from the Buyer before accepting any further bids.

5.2.5. Prop Store may take such other action as Prop Store deems necessary or appropriate. 

5.2.6. At its option, Prop Store may pay the Seller the entirety of the balance due from the Buyer.  If Prop Store pays such amount to the Seller, the Buyer acknowledges and agrees that Prop Store shall have all of the rights of the Seller against the Buyer. 

5.2.7. Prop Store shall be entitled to retain Lots sold until all amounts due have been received in full in good cleared funds or until the Buyer has performed any other outstanding obligations as Prop Store shall reasonably require.

5.3 Shipping and Storage

5.3.1. The Buyer is solely responsible for all shipping, handling, and delivery costs.  Prop Store can help you arrange packing and shipping through FedEx for smaller items or PackAir AirFreight, Inc. for larger items, or you can use your own licensed carrier, approved by Prop Store.  Please contact Prop Store at +1 818-727-7829 or supportLA@propstore.com for further details.  Please be advised that certain Lots are highly fragile and should be handled with caution.  Prop Store recommends that the Buyer collect such Lots locally from Prop Store, if possible.  Prop Store does not warranty the Lots against and shall have no liability for any damage that any Lot may incur or suffer during the shipping or delivery process.

5.3.2. After 14 days after close of Auction, if the Buyer has not made arrangements for and paid the shipping cost of the Lots purchased, or has otherwise failed to collect the Lots, a storage fee of 3% of the Hammer Price per month shall be charged to the Buyer.  If the Buyer has failed to pay the Purchase Price and the cost of shipping and handling, Prop Store, at its option may cancel the sale.

5.3.3. It is the Buyer’s sole obligation and responsibility to be aware of, to comply with, and to pay for all relevant import duties, taxes, VAT, customs and other fees charged in the area of delivery.  Prop Store will ship all packages with the full value of the Lot declared.  The Buyer understands and agrees that Prop Store shall have no obligation or responsibility for any import duties, taxes, VAT, customs, shipping or other charges for the Lots shipped.  Failure by the Buyer to pay all necessary amounts may result in the relevant authorities returning the Lot to Prop Store and in those circumstances the Buyer will be charged and will pay storage cost and Prop Store’s additional reasonable costs and expenses.

5.3.4. It is further the Buyer’s sole obligation and responsibility to ensure that any Lot purchased from Prop Store enters the shipping location lawfully, that all duties and taxes have been paid and that all required export procedures, regulations, and laws were properly complied with.  The Buyer understands and agrees that Prop Store shall have no obligation or responsibility for complying with any export procedures, regulations, or laws applicable to the Lot.

5.3.5. Unless otherwise agreed by Prop Store in writing, the fact that the Buyer wishes to apply for an export license does not affect or postpone the Buyer’s obligation to make payment in accordance with Prop Store’s payment terms nor Prop Store’s right to charge interest or storage charges on late payment.  Prop Store shall not be obligated to rescind or cancel a sale nor to refund any monies paid by the Buyer to Prop Store as a result of or related to the Buyer’s failure or inability to obtain an export license. 

5.3.6. Should the Buyer make own arrangements with third parties for shipping, handling, or delivery of any Lots, Prop Store shall have and accepts no liability or responsibility for the acts or omissions of any such third parties.  Similarly, where Prop Store suggests other handlers, packers or carriers, its suggestions are made on the basis of its general experience of such parties in the past.  Although Prop Store shall use reasonable efforts to take care when selecting third parties for shipping and delivery, and the Buyer understands and agrees that Prop Store is not responsible to any person to whom it has made a recommendation for the acts or omissions of the third party concerned. 

5.4 Prop Store's Liability

5.4.1. Except where expressly stated to the contrary above, under no circumstance will Prop Store incur liability to any Bidder or Buyer in excess of the purchase price actually paid.

5.4.2. Prop Store will not be liable or responsible for any failure to perform, or delay in performance of, any of its obligations under these Conditions that is caused by an event outside its control, that being any act or event beyond Prop Store’s reasonable control, including without limitation strikes, lockouts or other industrial action by third parties, civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war, fire, explosion, storm, flood, earthquake, subsidence, epidemic or other natural disaster, or failure of public or private telecommunications networks.  Prop Store’s obligations shall be suspended and time for performance extended until such time as the event outside its control is over, following which a new collection or shipping date can be agreed.

6. Terms of Guarantee of Attribution

6.1. Prop Store warrants that the provenance of each Lot is the film production stated in the title block of that Lot in the Auction catalog, subject to any revisions (which may be given in writing or online before or during the Auction at which the Lot is purchased by the Buyer); this is Prop Store's Guarantee of Attribution.  Buyers should be aware that multiple examples of props and costumes are frequently used during production and it is often impossible to determine whether a specific prop has been used on-camera.  Any specific on-camera usage known to Prop Store will be noted within the description, but no warranties are given by Prop Store on that description.

6.2. If a Buyer demonstrates to Prop Store’s reasonable satisfaction that the Guarantee of Attribution is materially incorrect, the sale will be rescinded if the Lot is returned to Prop Store in the same condition in which it was at the time of sale.  In order to satisfy Prop Store that the Guarantee of Attribution is materially incorrect, Prop Store reserves the right to require the Buyer to obtain, at the Buyer’s expense, the opinion of two experts in the field, mutually acceptable to Prop Store and the Buyer.

6.3. In the event a sale is rescinded in accordance with Paragraph 5.2, Prop Store shall repay to the Buyer the Purchase Price.  Repayment of the Purchase Price shall be the Buyer’s sole remedy, to the exclusion of all other remedies to the extent permissible at law.  It is specifically understood that this will be considered the sole remedy.

7. Warranties and Representations

7.1.         The copyright in all images, illustrations and written material produced by or for Prop Store relating to this auction, is and shall remain at all times the property of Prop Store.   The purchase of these items does not include ownership in or to the trademarks registrations, copyrights and/or any other intangible intellectual properties associated with this item.  Therefore purchase of this item does not permit the Buyer to replicate or to exploit this item otherwise.  The Buyer agrees to indemnify and hold harmless Prop Store and its directors, employees, affiliates, contractors and agents from any third-party claims, actions, suits, judgments, losses, damages, costs and expenses (including reasonable attorneys’ fees) asserted against or incurred by Prop Store that arise out of or result from any act or omission by the Buyer arising out of or relating to the Buyer’s infringement of any copyrights or trademarks in or to the items or Images.

7.2.         Prop Store neither warrants nor represents that the Buyer’s use of any materials displayed on the site will not infringe rights of third parties not owned by or affiliated with Prop Store.

7.3.         In the catalog descriptions, Prop Store takes steps to identify and provide provenance for Lots offered at Auction.  In many cases, the Lots offered were used in or in conjunction with motion pictures or other programs and information is furnished in order to fully identify and describe the Lot offered at Auction, including photographs and illustrations.  Prop Store in no way claims any connection to or relationship with the producers of the motion picture or other program.  In all cases, the use of the titles or other elements of a motion picture or other program is for informational purposes only.

7.4.         Prop Store makes no warranty or representation regarding the fitness for any purpose or merchantability of any lot sold.  All lots are sold “as is.”

7.5. Bidders are aware that description revisions may occur on some Lots, and should inquire before the Auction whether any description revisions have occurred on a given Lot and/or examine a lot before bidding on it. Prop Store will make all reasonable efforts to make description revisions readily available during the Auction.  While Prop Store uses reasonable efforts to include accurate and up to date information in this auction, Prop Store makes no warranties or representations as to its accuracy.  Prop Store assumes no liability or responsibility for any errors or omissions in the content of the auction.  Any reference images appearing within Prop Store's auction listings are solely for reference purposes and are not intended or deemed to be a representation or warranty of the item depicted within the image.

7.6.         All items are sold as collectibles and/or memorabilia for display purposes only, and are not deemed, intended, represented, or implied to be fit for any other purpose.  The Buyer assumes all risks of loss and/or injury, including, but not limited to, personal injury or property damage, arising from or related to any other use of the item.  The Buyer understands and agrees that Prop Store shall have no liability for any such loss or injury and the Buyer expressly releases Prop Store from any such loss or injury.

7.7.         Except as expressly provided herein, Prop Store shall have no liability to any Bidder or Buyer with respect to any Lot and all and any implied warranties and conditions are excluded to the fullest extent permitted by law.

7.8.         Each Bidder and Buyer expressly agrees that Prop Store shall not be liable in whole or in part, for, and no Bidder or Buyer shall be entitled to recover, any special, indirect, incidental or consequential damages including loss of profits or value of investment or opportunity cost, for any breach of any warranty, representation, or guarantee set forth herein.

8. Other Important Tems

8.1.         If any part of these Conditions is found by any arbitrator or court of competent jurisdiction to be invalid, illegal or unenforceable, that part shall be discounted and the rest of the Conditions shall continue to be valid to the fullest extent permitted by law.

8.2.         The contract is between the Seller, the Buyer and Prop Store and no other person shall have any rights to enforce any of its terms.

8.3.         If Prop Store fails to insist on performance of any of a Buyer’s obligations under these Conditions, or if it delays in doing so, that will not mean that Prop Store has waived its rights against the Buyer and does not mean the Buyer no longer has to comply with those obligations.

8.4.         These Conditions shall be enforced in accordance with and governed by the laws of the State of California, without regard to its choice of law provisions.

8.5. Any claim or controversy arising out of or relating to the sale of the item between any Bidder/Buyer and Prop Store shall be submitted to arbitration in Los Angeles County, California before an arbitrator from the Judicial Arbitration and Mediation Services, Inc. (“JAMS”) and conducted under its Comprehensive Arbitration Rules, as the exclusive remedy for such claim or controversy.  The parties further agree that the arbitration shall be conducted before a single JAMS arbitrator who is a retired California or federal judge or justice.  By agreeing to arbitrate, the parties waive any right they have to a court or jury trial.  The decision of the arbitrator shall be final and binding.  The parties further agree that, upon application of the prevailing party, any Judge of the Superior Court of the State of California, for the County of Los Angeles, may enter a judgment based on the final arbitration award issued by the JAMS arbitrator, and the parties expressly agree to submit to the jurisdiction of this Court for such a purpose.  The prevailing party shall be entitled to recover the party’s attorneys’ fees and costs incurred in connection with the arbitration.

BUYER'S GUIDE

1. Introduction.  This Buyers’ Guide contains a brief overview of Prop Store’s auction process and the terms under which Lots are made available for sale at auction.  A more detailed statement of our Terms and Conditions of Sale follow after this Buyer’s Guide.  Please read the Buyer’s Guide and the Terms and Conditions of Sale carefully.  By registering to bid and participate in a Prop Store auction, you will be deemed to have agreed to be bound by them.

2. Definitions

1. When the following capitalized words or terms are used in this Buyers’ Guide, they shall mean:

Auction                       A live sale by auction hosted by Prop Store

Bidder                        Any person, properly registered and approved by Prop Store to participate in the Auction who makes or considers making a bid to buy a Lot at Auction

Buyer                          The person or Company making the highest bid or offer for a Lot accepted by the auctioneer, including a principal bidding as agent

Buyer’s Expenses      An amount equivalent to 3% of the Hammer Price charged to the Buyer if Buyer’s winning bid was made online

Buyer’s Premium      A commission of 20% of the Hammer Price charged to the Buyer for a Lot

Company                   Any partnership, corporation, limited liability company, association, or any other business entity duly organized and qualified to conduct business under the laws of its state of formation

Credit Card Fee        An additional 2% of the aggregate amount of the Purchase Price, plus any relevant sales tax, charged to the Buyer, if the Purchase Price is paid by credit card

Guarantee of Attribution   Prop Store’s limited guarantee relating to the provenance of each Lot, as set forth in Paragraph 10 of the Terms and Conditions of Sale

Hammer Price           The highest bid for a Lot accepted by the auctioneer at the Auction

Lot                              Each item or group of items consigned by the Seller to Prop Store to be made available for sale at an Auction, as detailed in the catalogue

Prop Store                  The Prop Store of London, Inc. of 9000 Fullbright Ave, Chatsworth, CA 91311

Purchase Price           The Hammer Price plus the Buyer’s Premium, plus the Buyer’s Expenses, and any applicable sales tax, charged to the Buyer

Seller                           The person or Company offering the Lot for sale, including their agents or personal representatives

Terms and Conditions of Sale   Prop Store’s terms and conditions of sale at Auction, from time to time as may be amended, a copy of which appears following the Buyer’s Guide

3. Before the Auction

3.1 Bidder Registration. 

Every person or Company wishing to make a bid in the Auction is required to register with Prop Store before participating at an Auction.

To register, each person or Company must complete and return a bidder registration form available in this Buyer’s Guide or online at www.propstore.com, which must include a valid Visa, MasterCard or American Express credit card details to be held on file.

Each person registering to bid must also provide Prop Store with up–to-date, valid government-issued photo identification (e.g. passport, driver’s license) and proof of current address (such as a utility bill or bank statement dated within the last three months).

Each Company registering to bid must provide a certified copy or original articles of incorporation, articles of organization, or other documents satisfactory to Prop Store – contact Prop Store at +1 818 727 7829 for confirmation of what will be acceptable;

Any person seeking to participate in the Auction as an agent on behalf of a registered principal must complete and submit an Agent Information Form, and provide an up-to-date, valid government-issued photo identification (e.g., passport, driver’s license), as well as a written authorization from the principal confirming the agent’s authority to participate at the Auction on the principal’s behalf.

3.2. Pre-Auction Viewing.  During the Pre-Auction Viewing period, as set forth in the Auction catalog, any Bidder may preview Lots free of charge by appointment with Prop Store.

3.3. Delivery Costs.  At Bidder’s request, without any liability therefor, Prop Store can provide shipping estimates before the Auction.  Any Bidder requesting this information should email support@propstore.com including the Lot number and shipping address at least 3 days before the start of the Auction.

3.4. Bidders Outside the US

If the Bidder is located outside the United States, it is the Bidder’s sole responsibility and obligation to ensure in advance of the Auction that any Lot purchased in the Auction can be exported from the United States and imported into the country of destination.  No sale will be canceled because the Lot may not be imported into the country of destination. 

PackAir Airfreight, Inc., a third-party independent freight vendor, can advise Bidders on relevant export licensing regulations and may submit export license applications upon request.  Neither Prop Store nor PackAir Freight, Inc. can guarantee that any licenses, permits or consents will be granted, and shall have no liability arising out of or relating thereto.

4. At the Auction

4.1 No Reserve Auction.  This is a No Reserve auction.  There is no minimum selling price on any Lot of property offered for sale in the Auction.  There are no pre-sale estimates provided on any Lot of property offered for sale in the Auction.

4.2 Bidding Process.

All bids are by individual Lot unless the auctioneer states to the contrary during the live Auction.  Lots will usually be sold in their numbered sequence, unless the auctioneer announces otherwise at the Auction.

The auctioneer may accept bids from Bidders present in the sale room, via telephone, or via online at the time of the Auction.  The auctioneer may also accept proxy bids delivered to Prop Store before the start of the Auction.  Proxy bids may be submitted either by using the form in this Buyer’s Guide or the online form at www.propstore.com.  Proxy bids will be executed at the lowest possible price.

Any Bidder wishing to place bids at the time of the Auction via telephone must provide to Prop Store a list of Lots on which they intend to bid at least 24 hours before the start of the Auction.

In addition to Prop Store’s Terms and Conditions of Sale, any Bidder placing bids online must comply with the terms for use of the online auction platform access provider.  Any winning bid placed online shall be subject to the Buyer’s Expenses.

Except as expressly stated in this Buyer’s Guide or the Terms and Conditions of Sale, Prop Store shall have no liability arising out of or related to any errors or omission in respect of bids made online, by telephone or by proxy.

The auctioneer shall have sole discretion to accept or decline any bid.

5. After the Auction

1. Payment. 

Prop Store will notify the Buyer and send (by email unless requested otherwise) a payment invoice setting out the Purchase Price and itemizing the Hammer Price, Buyer’s Premium, and if applicable Buyer’s Expenses, plus any applicable sales tax, within 7 business days of the end of the Auction.  For all sales within California, sales tax at the prevailing rate (currently 9%) will be applied to the Purchase Price.  Delivery addresses outside California will be exempt from sales tax.

Payment of the invoice is due within 7 business days from receipt of the invoice and must be made by the Buyer.  Payments from any other source will not be accepted and shall be returned by Prop Store.

Payment must be in US dollars and may be made by electronic transfer, debit card, credit card (up to a maximum of $25,000), bankers draft or check (drawn on a US bank account – note check clearance can take between 5 and 10 working days), or cash (up to a maximum of $5,000).  Please note that the Credit Card Fee will be charged and payable in addition to the Purchase Price on any amounts paid by credit card.  Please quote the Lot number, invoice number and Bidder registration number when making payment to ensure it can be processed as efficiently as possible.

If payment is made by credit card, Buyer expressly agrees that such payment is nonrefundable nor may be credited to any other purchase, and that Buyer will not undertake any action or effort to stop payment, seek a refund, or attempt a charge back of such amounts – or any Credit Card Fee assessed thereon – by the issuer of the credit card. 

5.2 Shipping and Storage. 

The Buyer is solely responsible for all shipping, handling, and delivery costs.  Prop Store can help you arrange packing and shipping through FedEx for smaller items or PackAir AirFreight, Inc. for larger items, or you can use your own licensed carrier, approved by Prop Store.  Please contact Prop Store at +1 818 727 7829 for further details.  Please be advised that certain Lots are highly fragile and should be handled with caution.  Prop Store recommends that the Buyer collect such Lots locally from Prop Store, if possible.  Prop Store does not warranty the Lots against and shall have no liability for any damage that any Lot may incur or suffer during the shipping or delivery process.

      After 14 days after close of Auction, if Buyer has not made arrangements for and paid the shipping cost of the Lots purchased, or has otherwise failed to collect the Lots, a storage fee of 3% of the Hammer Price per month shall be charged to the Buyer.  If the Buyer has failed to pay the Purchase Price and the cost of shipping and handling, Prop Store, at its option may cancel the sale.

PRIVACY POLICY

1.    Introduction

This is our Privacy Policy. It tells you how we collect, process, and maintain data received from you on our site.

This privacy policy is effective as of February 25, 2015

If you have any comments or questions on this privacy policy, please email them to support@propstore.com.

2. Who We Are

Our site address is www.propstore.com

Our company name is The Prop Store of London, Inc. d/b/a Prop Store

Our registered address is 9000 Fullbright Avenue, Chatsworth, California 91311
3. What we collect

We may collect, maintain, and use the following data about you:

• Your first and last name;
• Your home address or other physical address provided by you;
• Your telephone number; and
• Your email address.

In order to register to bid in our Auction and to use our site, you must create an online account.  Once you have created your account, you may update or change your personally identifiable information at any time through your online account.

4. How we use what we collect

We use information about you to:

•      Present site content effectively to you;

•      Provide information, products and services that you request, or (with your consent) which we think may interest you;

•      Carry out our contracts with you;

•      Allow you to use our interactive services, if you want to;

•      Tell you our charges; and/or

•      Tell you about other goods and services that might interest you or for our general marketing purposes.

If you do not wish to have us use the collected data for our marketing purposes, you can opt out by checking the box on our registration form, or by contacting us at any time at support@propstore.com.

5. Disclosing your information

You understand and agree that we are allowed to disclose your information in the following cases:

•      To our consignors;

•      If we want to sell our business, or our company, to the potential buyer;

•      To any of our affiliates, subsidiaries, parents, or related companies;

•      Pursuant to a court order or other requirement under applicable law; and

•      To governmental agencies or other entities as necessary to protect against fraud.

6. Links to other sites

Please note that our terms and conditions and our Private Policy will not apply to other websites that you may access via a link from our site.  Should you visit other websites through any links provided from our site, please be advised that these other websites will not have access to any personally identifiable information you provided to us.  We do not share your personally identifiable information with these other websites.

7. Changes

From time to time, we may change our Privacy Policy.  If we do so, we will post the changes on this page.  At our option, we may also email you.  However, it is your responsibility to review our website for any changes to our Privacy Policy, regardless of whether we notify you of the same.