Lot #336Lot # 336: THE TREASURE OF THE SIERRA MADRE - Italian 2-Fogli (39.5" x 55"); Very Fine- on Linen

Terms & Conditions

These Terms and Conditions of Sale ("Conditions") set out the agreement between the Bidder/Buyer and Propstore and the Seller. By registering to bid and participate in a Propstore 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.

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

1. Definitions

When the following words are used in this Buyer's Guide, they 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 likely to have wear and tear, damage and other imperfections. 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. Propstore"s staff are not professional restorers so descriptions of Lots, images and statements of condition in Propstore"s catalog or on its website are for illustrative purposes only. Propstore cannot guarantee that colors are properly shown. Save for Propstore"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 Propstore before participating at an Auction; all registration takes place online.

  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. 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.

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

   3.1.4.1. Ship Lots purchased at Auction to the Buyer;

   3.1.4.2. Process the Buyer's payment;

   3.1.4.3. Conduct credit checks, as deemed necessary by Propstore in its sole discretion; and/or

   3.1.4.4. If the bidder opts in during registration, inform the Bidder about other auctions, products and services provided by Propstore and its affiliates (please contact Propstore 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).

 3.2. Pre-Auction

 Viewing

  3.2.1. During the Pre-Auction Viewing period, as set forth in the Auction catalog, any Bidder may preview Lots with Propstore by appointment.

 3.3. Shipping Charge Estimates

  3.3.1. Propstore provides estimated shipping cost quotes through its online bidding platform. Quotes for shipping multiple lots together are available upon direct request. Estimates are provided as a courtesy to bidders, cannot be guaranteed, and in all cases, Buyer will be responsible for associated shipping costs as per section 5.3 of the Terms and Conditions. Winning bids are legally binding and must be paid regardless of final shipping expenses.

 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 Propstore 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. Estimates

  4.1.1. Estimates represent Propstore's guide to Bidders and do not give any indication or representation of actual values or likely bids. Estimates do not include any Buyer's Premium, Buyer's Expenses or sales tax.

 4.2. Reserve Price

  4.2.1. The majority of Lots in this auction are sold without a Reserve Price; certain Lots may be sold with a Reserve Price. The Reserve Price is the minimum price the Seller will accept for a Lot. The Reserve Price will not be more than the lowest estimate given by Propstore. Lots sold with a Reserve Price will be identified as such.

4.3. Bidding Process

  4.3.1. The Lots in this Auction close over 2 days; each day Lots will begin closing at 9:00am PDT. Lots are staggered through the day in sequential order at a pace of 1 lot every minute. If any bid is placed within the final minute of the Auction Period, the Auction Period will automatically be extended by five (5) additional minutes. Please note that the timer may reflect that the remaining Auction Period is "0" but the Auction Period has not concluded because it has been extended by a bid made within the last five (5) minutes. It is the bidder's responsibility to refresh the page to determine whether the Auction Period has been extended. In any event, the Auction Period for any lot shall not be deemed completed until it states "Closed."

  4.3.2. Propstore reserves the right to refuse admission and/or participation at the Auction and to reject any bid.

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

  4.3.4. 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, plus any applicable Buyer's Expenses, all applicable taxes, and any and all shipping charges, storage fees and/or other costs).

  4.3.5. In addition to Propstore's Conditions, any Bidder placing bids through an online third-party auction platform service (not Propstoreauction.com) must comply with the terms for use of the online auction platform access provider.

  4.3.6. Except as expressly stated in the Buyer's Guide or the Conditions, Propstore shall have no liability arising out of or related to any errors or omission in respect of any bids.

5. After the Auction

 5.1. Payment by Buyer

  5.1.1. Propstore will notify the Buyer and send via email a payment invoice setting out the Purchase Price and itemizing the Hammer Price, the Buyer's Premium, plus any applicable Buyer's Expenses or sales tax, within 7 business days of the end of the Auction. State and local sales tax, as required by law, shall be applied at the recipient's prevailing rate where Propstore is obligated to charge sales tax. Please see the Sales Tax Quick Reference Guide at the end of these Terms and Conditions for additional information.

  5.1.2. Unless you have been approved for a payment plan as set forth in Paragraph 5.1(c) of the Terms and Conditions of Sale, payment of the invoice is due within 7 business days from receipt of the invoice and must be made by the Buyer

  5.1.3. Payment plans may be available in increments of up to three (3) months for purchases where total Hammer Price and Buyer's Premium are greater than $1,000. Purchases where total Hammer Price and Buyer's Premium are less than $1,000 are not eligible for a payment plan; buyers paying via Cryptocurrency are also not eligible for a payment plan. Buyers wishing to utilize the payment plan service, if approved by Propstore, 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. Propstore 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 Propstore shall be retained by Propstore as liquidated damages. Moreover, Propstore 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 Propstore and/or the Seller, even in circumstances where Propstore has released the Lot to the Buyer. Among other remedies available to Propstore and the Seller for failure to render full payment of the Purchase Price, Propstore 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. Propstore vouchers and other discount codes are not valid as payment for auction items.

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

  5.1.8. The Buyer shall be charged in US Dollars for the Purchase Price.

  5.1.9. 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 quote the Lot number, invoice number and Bidder registration number when making payment to ensure it can be processed as efficiently as possible.

  5.1.10. 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 by the issuer of the credit card.

  5.1.11. Cryptocurrency payments are accepted via our payment processor (Bitpay), as indicated at checkout. You must pay for the entire balance owed including the Purchase Price and any other relevant charges entirely in one form of Cryptocurrency and you should ensure you have a sufficient balance to pay for all sums owed. We do not accept partial payment by Cryptocurrency and a different form of payment in one transaction. Cryptocurrency payment is only acceptable on the express understanding that the Lot is not returnable, refundable nor exchangeable. Buyers paying with Cryptocurrency are also not eligible to use payment plans. We reserve the right to exclude the use of payment by Cryptocurrency on certain Lots, such exclusion to be noted on the listing.

 5.2. Default by Buyer

  5.2.1. Failure to timely make payment of any amounts due to Propstore and/or the Seller shall constitute an event of Default by the Buyer. In the event of Default for nonpayment, Propstore 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 Propstore 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 Propstore 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 paragraph 4.2(a) herein, Propstore, 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. Propstore may, in its sole discretion, apply any proceeds of sale then due or thereafter becoming due to the Buyer from Propstore or any affiliated company, or any payment made by the Buyer to Propstore 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 Propstore or any affiliated companies. In addition, a defaulting Buyer will be deemed to have granted and assigned to Propstore 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 Propstore may retain and apply such property or money as collateral security for the obligations due to Propstore or to any affiliated company. Payment will not be deemed to have been made in full until Propstore has collected good funds.

  5.2.4. Propstore 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. Propstore may take such other action as Propstore deems necessary or appropriate.

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

  5.2.7. Propstore 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 Propstore shall reasonably require.

  5.2.8. Propstore shall be entitled to release the name and address of the Buyer to the Seller to enable the Seller to commence legal proceedings to recover the amounts due and legal costs. Propstore will take reasonable steps to notify the Buyer prior to releasing such details to the Seller.

 5.3. Shipping and Storage

  5.3.1. The Buyer is solely responsible for all shipping, handling, and delivery costs. Propstore ships Lots directly through FedEx or USPS for smaller items, orspecial freight carriers for larger items, or you can use your own licensed carrier, approved by Propstore. Please contact Propstore at +1 818 727 7829 for further details. Propstore 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. Propstore offers insurance for shipments in transit at an additional charge; buyers will have an option to select this when finalizing your purchase after auction. Winning bids are legally binding and must be paid regardless of final shipping expenses.

  5.3.2. After 30 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, Propstore may impose a storage fee of 3% of the Hammer Price per month to be charged to the Buyer.

  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. Propstore will ship all packages with the full value of the Lot declared. The Buyer understands and agrees that Propstore 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 Propstore and in those circumstances the Buyer will be charged and will pay storage cost and Propstore'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 Propstore 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 Propstore 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 Propstore 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 Propstore's payment terms nor Propstore's right to charge interest or storage charges on late payment. Propstore shall not be obligated to rescind or cancel a sale nor to refund any monies paid by the Buyer to Propstore 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, Propstore shall have and accepts no liability or responsibility for the acts or omissions of any such third parties. Similarly, where Propstore suggests other handlers, packers or carriers, its suggestions are made on the basis of its general experience of such parties in the past. Although Propstore shall use reasonable efforts to take care when selecting third parties for shipping and delivery, and the Buyer understands and agrees that Propstore 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. Propstore's Liability

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

  5.4.2. Propstore 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 Propstore'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. Propstore'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

 6.1. Propstore warrants the attribution of each Lot as 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 Propstore's Guarantee of Attribution.

 6.2. If a Buyer demonstrates, to Propstore's reasonable satisfaction, that the Guarantee of Attribution is materially incorrect, the sale will be rescinded if the Lot is returned to Propstore in the same condition in which it was at the time of sale. In order to satisfy Propstore that the Guarantee of Attribution is materially incorrect, Propstore 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 Propstore and the Buyer.

 6.3. In the event a sale is rescinded in accordance with condition 10.2, Propstore shall repay to the Buyer the Purchase Price. Repayment of the Purchase Price shall be the Buyer's sole remedy for an incorrect Guarantee of Attribution, to the exclusion of all other remedies to the extent permissible at law. It is specifically understood that this will be considered the Buyer's sole remedy under this clause 10.

 6.4. The Buyer expressly agrees that Propstore shall not be liable in whole or in part, for, and the Buyer shall not be entitled to recover, any special, indirect, incidental or consequential damages including loss of profits or value of investment or opportunity cost.

 6.5. 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. Propstore will make all reasonable efforts to make description revisions readily available during the Auction.

7. Warranties and Representation

 7.1. The copyright in all images, illustrations and written material produced by or for Propstore relating to this auction, is and shall remain at all times the property of Propstore and/or the Consignor. 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 Propstore 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 Propstore 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. Propstore 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 Propstore.

 7.3. In the catalog descriptions, Propstore 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. Propstore 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. Propstore 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. Propstore will make all reasonable efforts to make description revisions readily available during the Auction. While Propstore uses reasonable efforts to include accurate and up to date information in this auction, Propstore makes no warranties or representations as to its accuracy. Propstore assumes no liability or responsibility for any errors or omissions in the content of the auction. Any reference images appearing within Propstore'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 Propstore shall have no liability for any such loss or injury and the Buyer expressly releases Propstore from any such loss or injury.

 7.7. Except as expressly provided herein, Propstore 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 Propstore 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 Improtant Terms

 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 Propstore and no other person shall have any rights to enforce any of its terms.

 8.3. If Propstore 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 Propstore 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 Propstore 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.

Sales Tax Quick Reference Guide

Special Notices

Propstore Interest Δ

From time to time, Propstore may offer a Lot which it owns in whole or in part or in which it has a financial interest and any such Lot will be identified in the catalog with the symbol Δ next to its Lot number.

Notice on Copyright

Lots with this disclaimer are sold without copyright, reproduction rights, licencing agreements or any other type of legal release.