Terms of Auction
AUCTION TERMS & CONDITIONS
1. All bids are binding and cannot be withdrawn. We (the Leonardo DiCaprio Foundation, or LDF) reserve the right to reject any bid.
2. The highest bidder as determined by LDF at the close of the Auction Lot will be the purchaser of the Auction Lot. LDF has full and absolute discretion in the case of error or dispute with respect to bidding.
3. Every effort has been made to describe Auction Lots accurately, however, all Auction Lots are sold “as is” and “where is” without warranty or representation of any kind as to accuracy of description, authenticity, value, or fitness for any purpose. By participating in the auction, each bidder recognizes and agrees that we are not liable for any occurrence stemming from the use of the auctioned items or services. All sales are final, and refunds and exchanges are not allowed.
4. We reserve the right to withdraw or otherwise not offer for auction any of the Auction Lots listed in the catalog.
5. If the auctioneer determines that any opening bid is below the reserve price of the Auction Lot offered, s/he may reject the same and withdraw the Auction Lot from the auction.
6. Subject to fulfillment of all the conditions set forth herein, upon the fall of the auctioneer’s hammer, the contract between the donor and the purchaser is concluded, and the purchaser is responsible for paying the full purchase price to the Leonardo DiCaprio Foundation. LDF will transmit an invoice to the purchaser immediately following the event, and the purchaser is expected to make payment by 5:00 p.m. Pacific Time Friday, September 28, 2018. We accept checks and wire transfers, as well as payments by American Express, MasterCard, and Visa. Credit card payments may not exceed $50,000 per sale. All payments must be made in U.S. Dollars.
7. Auction Lot titles will not transfer to the purchaser until LDF has received the full purchase price in cleared funds. The purchaser’s obligation to pay the full purchase price is absolute and unconditional and is not subject to any defenses, setoffs or counter-claims of any kind whatsoever. In addition to our right to hold the purchaser liable for the total purchase price including all fees, charges, and expenses, we may exercise any other necessary remedies available to us by law, including: (a) imposing from the date of sale a late charge of the annual percentage rate of Prime + 6% of the total purchase price; (b) canceling the sale of that, or any other lot or lots, sold to the defaulting purchaser at the auction, retaining as liquidated damages all payments made by the purchaser; (c) reselling the purchased property, if appropriate; or (d) effecting any combination of these or other remedies thereof.
8. All auction purchases will undergo due diligence prior to transaction approval. We may require financial references, guarantees, deposits and/or such other security as is needed, in our absolute discretion, as security for your bid(s).
9. Successful bidders will be responsible for all applicable taxes, including potentially California and other state and local sales taxes, and if applicable, any federal luxury or other tax, on the total purchase price, which includes the hammer price, buyer’s premium, and any other applicable charges. California sales tax will be charged on any property picked up or delivered within California, regardless of the state or country in which the purchaser resides or does business.
10. Successful bidders will be responsible for all shipping and/or delivery costs, even if arranged by LDF.
11. In no event will our liability to a purchaser exceed the purchase price actually paid.
12. In our discretion we will accept online bids via our online platform (www.leonardodicaprio.org/auction) as a convenience to those who are not able to be present at the auction. By participating in a sale via the online platform, you acknowledge that you are bound by these Terms and Conditions, as well as, any additional Terms and Conditions required by our online auction partner, Invaluable (invaluable.com). Successful online bidders will pay a Bidder’s Premium of 6% of the hammer price.
13. We will accept advance bids on select Auction Lots on our online auction platform (www.leonardodicaprio.org/auction). All online bids are subject to additional Terms and Conditions required by our online auction partner, Invaluable (https://www.invaluable.com/agreements/userTerms.cfm).
14. For United States taxpayers, the amount paid for an auction lot which exceeds the fair market value of the item may be eligible for a tax deduction. Estimated values of each Auction Lot are listed on the catalog page corresponding to each Auction Lot. LDF cannot offer any tax advice. Bidders should direct all tax questions to their tax advisor.
15. Changes, if any, to the Terms and Conditions will be printed in an auction catalog insert.
16. All Auction Lots are subject to the terms and conditions stipulated by the donors. Purchases that are subject to future fulfillment, such as travel or entertainment items, depend on the schedules of both the purchaser and the donor. We are not responsible if mutually agreeable times and locations cannot be reached.
17. These Terms and Conditions, as well as bidders’, the purchasers’ and our respective rights and obligations hereunder, shall be governed by and construed and enforced in accordance with the laws of the State of California.
18. Auction Bond No. 72062409 has been filed with the California Secretary of State in compliance with CA Civil Code Sections 1812.600 et seq.
20. By participating in the auction, you acknowledge that you are bound by these Terms and Conditions.