FINE AMERICAN AND EUROPEAN PAINTINGS

Loew-Demers Auctions, Inc. Conditions Of Sale-Please Read Loew-Demers Auctions, Inc. acts solely as an agent for various owners and consignors. It exercises care in describing all items listed and uses judgment in attributing authorship, but offers no guarantee regarding authenticity, condition, or description. We have attempted to clearly outline the conditions which will indicate how various circumstances will be handled. 1. Some of the lots in this sale are offered subject to a reserve. The reserve is a confidential minimum price agreed upon by the consignor and Loew-Demers Auctions, Inc. below which the lot will not be sold. In most cases, the reserve will be set below the estimated range, but in no case will it exceed the estimates listed. A representative of Loew-Demers will execute such reserves by bidding for the consignor. In any event and whether or not a lot is subject to a reserve, the auctioneer may reject any bid or raise not commensurate with the value of such lot. 2. All property is sold as is, and neither the auctioneer nor any consignor makes any warranties or representations of any kind or nature with respect to the property, and in no event shall they be responsible for the correctness, nor deemed to have made any representation or warranty, of description, genuineness, authorship, attribution, provenance, period, culture, source, origin, or condition of the property and no statement made at the sale, or in the bill of sale, or invoice or elsewhere shall be deemed such a warranty of representation or an assumption of liability. 3. The highest bidder acknowledged by the auctioneer shall be the Buyer. In the event of any dispute between bidders, the auctioneer has the absolute discretion to determine which bidder is the successful Buyer or to re-offer the item in dispute and resell it. In the event of any dispute after the sale, Loew-Demers record of the final sale price and of the successful buyer shall be conclusive. Loew-Demers reserves the right to sell items which are not listed in the catalogue. 4. If the purchaser breaches any of its obligations under these Conditions of Sale, including its obligation to pay in full the purchase price of all items for which it was the highest successful bidder, Loew-Demers may exercise all of its rights and remedies under the law without limitation. 5. In no event will Loew-Demers be liable to any purchaser with respect to any item for amounts exceeding the purchase price actually paid for such item. 6. Shipping is the responsibility of the purchaser. Loew-Demers may recommend shippers upon request. 7. All purchases are subject to a Applicable Sales tax of 6.25% unless a valid tax exception certificate is on file. 8. Loew-Demers make no warranty that the purchaser will acquire any copyrights or other reproduction rights to the lot sold. 9. The auctioneer may reject nominal bids. If an item fails to open for 25-30% of it's low estimate the auctioneer may decide to pass the lot and the lot may not be re-offered. 10. Phone, Fax or mail-in absentee bids will be accepted up to 24 hours before the sale. Visa or MasterCard numbers will be required in many cases. We will execute bids for you competitively. It is possible to buy items by absentee bid for less than your top bid. Every effort is made to execute all absentee bids however, you must know this is not a perfect system. In the event of an error or omission the auctioneer shall not be held liable. 11. All items are to be paid for the day of the auction in US Funds. A bill will be sent to Absentee bidders directly after the auction. This bill is due immediately upon receipt. Loew-Demers reserve the right to hold merchandise purchased by personal check until the check clears the bank or for whatever time the auctioneer deems necessary to protect his interest. 12. Payment is due upon receipt. If the buyer's invoice is not paid in full within 15 days of the auction, Loew-Demers has the right and will charge the buyer's credit card of record on file for the total invoice amount. Interest on all balances will be paid at a rate of 1 1/2% monthly (18% APR) effective 15 days from the date of purchase/auction. Should the buyer not comply with any of the Conditions of Sale, the damage recoverable from the defaulter shall include the loss arising on the resale of the lot, together with the charges and expenses in respect of both sales and as well as any legal or collection fees incurred. Loew-Demers shall hold any money deposited in partial payment on account of any liability of the defaulted item. 13. We reserve the right to withdraw any property before sale and shall have no liability whatsoever for such withdrawal. 14. Title of the property passes upon the fall of the auctioneers hammer. It will then be the responsibility of the buyer to make full payment prior to removing the goods from the premises. It is both the buyers risk and expense for removal and must be made at the conclusion of the sale unless other arrangements have been made. 15. At the discretion of the auctioneer, phone bidding may be arranged on more expensive items. In order to make arrangements to bid by phone you must contact our office in advance. There are always a limited number of phone lines so it is important that if you wish to bid by phone that arrangements are made as early as possible. You may want to use a "cover-me-bid" in the event that you can not be reached by phone. Your "cover-me-bid" would only be used if you are unable to be reached. You may place "cover-me-bids" at your discretion. They are not mandatory but simply a safety device. 16. IF you are registering or executing a bid for someone else under your number please keep in mind that you are responsible for the bid whether the person you are executing or registering for pays or fails to pay. 17. Buyers premium is 19.5%. If you settle your account by credit card the buyers premium is 19.5% of the final bid price which will be applied to each lot sold to be paid by the buyer as part of the purchase price. 18. Any legal disputes arising from this auction shall be settled in the court system in the state of Delaware. 19. Bidding on article(s) indicates your acceptance of all of the above terms. 20. State of Massachusetts Auction License # 2144 NOT RESPONSIBLE FOR TYPOGRAPHICAL ERRORS OR OMISSIONS INFORMATION AND DOCUMENTS, INCLUDING PRODUCT/ITEM/LOT SPECIFICATIONS, PROVIDED ON THIS WEBSITE ARE PROVIDED "AS IS." SPECIFICALLY, BUT WITHOUT LIMITATION, LOEW-DEMERS DOES NOT WARRANT THAT: (i) THE INFORMATION ON THIS WEBSITE IS CORRECT, RELIABLE, ACCURATE, OR COMPLETE; (ii) THE FUNCTIONS CONTAINED ON THIS WEBSITE WILL BE UNINTERRUPTED OR FREE FROM ERRORS; (iii) DEFECTS WILL BE CORRECTED, OR (iv) THIS WEBSITE OR THE SERVER(S) THAT MAKES IT AVAILABLE ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. Ã?Æ?Ã?¢Ã?¢ââ?¬Å¡Ã?¬Ã?â??Ã?¨Ã?Æ?Ã?¢Ã?¢ââ?¬Å¡Ã?¬Ã?â??Ã?¨PRODUCT/ITEM/LOT descriptions and specifications are subject to change. From time to time LOEW-DEMERS may add or update the information and documents on this website without notice. It is the user's responsibility to ascertain whether any information downloaded from this website is free of viruses, worms, Trojan horses, or other items of a potentially destructive nature. UNDER NO CIRCUMSTANCES SHALL LOEW-DEMERS BE LIABLE FOR ANY SPECIAL, INCIDENTAL,CONSEQUENTIAL, EXEMPLARY, MULTIPLE OR OTHER INDIRECT DAMAGES THAT RESULT FROM THE USE OF, OR THE INABILITY TO USE, THIS WEBSITE OR THE INFORMATION CONTAINED ON THIS WEBSITE, EVEN IF LOEW-DEMERS HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN NO EVENT SHALL LOEW-DEMERS TOTAL LIABILITY TO YOU FOR ALL DAMAGES, LOSSES, AND CAUSES OF ACTION RESULTING FROM YOUR USE OF THIS WEBSITE, WHETHER IN CONTRACT, TORT (INCLUDING, BUT NOT LIMITED TO, NEGLIGENCE) OR OTHERWISE, EXCEED THE AMOUNTS YOU PAID TO LOEW-DEMERS DURING THE MOST RECENT THREE-MONTH PERIOD IN CONNECTION WITH AMOUNTS WHICH YOU PAID FOR USING THIS WEBSITE. This website may at times contain links to non-LOEW-DEMERS websites. These links are provided to you as a convenience. We are not responsible for the content of any website linked to our site. Any outside website accessed from the LOEW-DEMERS website is independent from LOEW-DEMERS, and further, LOEW-DEMERS has no control over the content of that website. In addition, any link to any non-LOEW-DEMERS website does not imply that LOEW-DEMERS endorses or accepts any responsibility for the content or use of such a website. In no event shall any reference to any third party or third party product or service be construed as an approval or endorsement by LOEW-DEMERS of that third party or of any product or service provided by a third party. Information that LOEW-DEMERS publishes on this website may contain references to products or services that are not available or approved by the appropriate regulatory authorities in your country. Such references do not imply that LOEW-DEMERS intends to announce or make available such products or services to the general public, or in your country. LOEW-DEMERS makes no representation that information on this website is appropriate or available for use outside the United States. Those who choose to access this website from outside the United States do so on their own initiative and are responsible for compliance with local laws, if and to the extent local laws are applicable. These Terms and conditions are governed and interpreted pursuant to the laws of the State of Delaware, United States of America, notwithstanding any principles of conflicts of law. This is the entire Agreement between the parties relating to the subject matter herein and shall not be modified except in writing signed by both parties or by a new posting by LOEW-DEMERS, as described above.

State sales taxes are due when applicable.