IMPORTANT CHO DUCK-HYUN

1. Most items auctioned are of considerable age and may exhibit wear, usage, repairs and damage. Therefore, all lots are sold "AS IS" except for the 60-date limited warranty contained herein and referred to in Paragraph 9 below, and neither the Auctioneer nor the Consignor makes any warranties or representations, express or implied, as to the title, merchantability, fitness, or condition with respect to such lots. All statements contained in the catalog or in any bill of sale, invoice, or elsewhere as to authorship, period, culture, source, origin, measurement, quality, rarity, provenance, importance, exhibition and literature of historical relevance, or physical condition are qualified statements of opinion and not representations or warranties. Auctioneer and the Consignor are not responsible for errors or omissions in the catalogue or any supplemental material. The Buyer expressly acknowledges and agrees that in no event should Auctioneer, its officers, agents, or employees be liable for any damages including, without limitation, any compensatory, incidental, or consequential damages.

2. Registered bidders accept all personal liability to pay the purchase price, including the buyer’s premium and all applicable taxes, plus all other applicable charges, unless it has been explicitly agreed in writing with Jackson’s before the commencement of the sale that the bidder is acting as agent on behalf of an identified third party acceptable to Jackson’s, and that Jackson’s will only look to the principal for payment.

3. Auctioneer reserves the right to withdraw any property before the sale and shall have no liability whatsoever for withdrawal of property.

4. Auctioneer reserves the right to reject any bid. If a lot carries a minimum reserve, the Auctioneer may bid up to the reserve amount on behalf of the seller. The highest bidder acknowledged by Auctioneer will be the Buyer. In the event of a dispute between bidders, Auctioneer has final discretion to determine the successful bidder.

5. On the fall of the Auctioneer's hammer, title to the offered lot will pass to the highest bidder acknowledged by Auctioneer, and such bidder thereupon assumes full risk and responsibility and will pay the full purchase price plus Buyer's Premium and any applicable fees (such as sales tax and shipping) IMMEDIATELY upon receipt of invoice.

6. A Buyer's Premium of 25% of the successful bid price will be added to the purchase price and is payable by the Buyer as part of the total purchase price.

7. If any applicable conditions herein are not complied with by the Buyer, in addition to other remedies available to Auctioneer and the Consignor by law, including without limitation the right to hold the Buyer liable for the total purchase price, Auctioneer at his or her option may either (a) cancel the sale, retaining as liquidated damages all payments (including deposits) made by the Buyer or (b) resell the property either privately or at public auction without reserve & in either event the Buyer will be liable for any deficiency in the purchase price & all costs & expenses, including: storage fees, handling charges, the expenses of both sales & commissions on both sales at Auctioneer's regular rates, all other charges due hereunder, including attorney fees & incidental damages. In addition, a defaulting Buyer shall be deemed to have granted Auctioneer a security interest in, and Auctioneer may retain as collateral security for such Buyer's obligations to use, any property, in Auctioneer's possession owned by such Buyer. Payment will not be considered to have been made full until Buyer's check has cleared the Auctioneer's bank.

8. Auctioneer undertakes the execution of absentee bids as a convenience for clients and is not responsible for failure to execute bids, or for any error in the execution of bids.

9. The Buyer’s sole and exclusive remedy is the rescission of the sale and the refund of the original purchase price plus any Buyer’s Premium made, and is in lieu of any other remedy that may otherwise be available as a matter of law or in equity. Auctioneer and Consignor shall not by liable for any incidental or consequential damages incurred.

10. As stated in Paragraph 1 above, neither Auctioneer nor Consignor makes any express or implied representations or warranties whatsoever concerning any property in the catalogue, including without limitation, any warranty of merchantability or fitness for a particular purpose, except as specifically provided herein. Auctioneer warrants the authorship (as hereinafter defined) of a lot only for a period of sixty (60) days from date of sale (not date of receipt) of such lot and only to the original Buyer of record at the auction. Upon being notified in writing within the sixty (60) day limited warranty period, if it is determined to Auctioneer’s satisfaction that the authorship is incorrect, the sale will be rescinded provided that the lot is returned to Auctioneer in the same condition in which it was at the time of sale. Auctioneer shall have the right to have the Buyer obtain, at the Buyer’s expense, the opinion of two recognized experts in the field, mutually acceptable to Auctioneer and Buyer, before Auctioneer determines whether to rescind a sale under this limited warranty. If requested, Auctioneer will provide Buyer with the names of acceptable recognized experts. Buyer is advised that said lot should be inspected by him or herself or his or her agents to his or her own level of satisfaction prior to bidding and purchase, but in any event, by the time they have purchased the item, as the limited warranty referred to herein expires sixty (60) days from the date of sale. Otherwise, there is no recourse whatsoever with Auctioneer as to authorship as defined hereinafter. Consignor, through his or her consignment contract, has agreed to allow Auctioneer to provide or release to the Buyer of a contested item, after the limited warranty period, necessary contact information of the Owner (i.e., name, address, and phone number) if Buyer wishes to seek a remedy or resolve a dispute in this matter directly with the Owner, after the limited warranty period runs. Buyer agrees and understands that after the sixty (60) day limited warranty, Buyer waives all right to request refunds of commissions, whether paid by Owner or Buyer, and all commissions are nonrefundable and shall remain the property of Auctioneer. Once the sixty (60) day limited warranty period expires, Auctioneer may elect to have no involvement in the dispute between Owner and Buyer other than to provide contact information. If testimony is required of Auctioneer's employees or experts, their time will be charged to the respective party at the rate of $250 per hour plus expenses.

11. “Authorship” is defined as the creator, period, culture, source of origin, as the case may be, as set forth in the description of the lot in this catalogue, as amended by an oral or written salesroom notices or announcements. Lack of authorship would also include fake or counterfeit items.

12. These Conditions of Sale and the Buyer's and our respective rights and obligations hereunder are governed by the laws of the State of Iowa. By bidding at an auction, each Buyer and bidder agrees to be bound by these Conditions of Sale. Any dispute, controversy, or claim arising out of or relating to this agreement, or the breach, termination, or validity thereof, brought by or against Auctioneer (but not including claims brought against the Consignor by the Buyer of lots consigned hereunder) shall be resolved by legal action brought in Black Hawk County, Iowa as the sole place for jurisdiction and litigation of any issues between the parties.

13. The terms listed herein are defined as "Auctioneer" as Jackson International Auction Company, LTD (d/b/a Jackson's Auctioneers & Appraisers of Antiques & Fine Art); "Buyer" as Purchaser/Successful Bidder; "Consignor" as Owner/Seller of the "Property" as consigned lot(s)/item(s).

Exhibition

To accommodate prospective Buyers, all items offered for sale are available for viewing the Saturday and Sunday prior to the auction from 10am-5pm and Monday the day prior to the auction from 9am-8pm. Auctioneer encourages all prospective Buyers to personally inspect or have their agent inspect property before bidding to determine its condition and whether or not it has been restored, repaired or altered.

Condition of Lots

All items are sold “AS IS” and there will be no returns based on condition. The items sold are often of considerable age and will exhibit wear, usage and damage often not listed in the catalog entry. The absence of condition remarks in the catalog entry DOES NOT mean the item is in perfect condition. Prospective buyers are in ALL CASES responsible for determining the physical condition of lots. Condition reports are available upon request from Auctioneer. However, neither Auctioneer, his or her employees or agents is authorized to make on Auctioneer's behalf or on that of the Consignor any representation or warranty, oral or written, with respect to any property. Therefore, if a prospective bidder has not examined the property to their satisfaction before the sale, or his/her agent has not inspected the property, Auctioneer recommends that they not bid on the property. All dimensions are approximate. The condition of frames is not guaranteed.

A note to buyers of eccesiastical: Auctioneer maintains the right to reject any bid from persons bidding on certain ecclesiastical items such as chalices, monstrances, and reliquaries if Auctioneer, in his or her own discretion, feels that the Buyer of such items would use them for any other reason than what they were originally produced for.

BIDDING

All bidders are required to register for the auction. Bidders may register during viewing, on line or during the auction. There is no charge for registration. All lots will be sold in numerical order according to the printed catalogue and approximately 100-120 lots will be offered per hour. If you are unable to attend the auction in person, but wish to participate, Auctioneer offers two convenient ways for you to do so: absentee bidding and telephone bidding. Absentee bids & telephone bids will be executed only with a signed bid form.

ABSENTEE BIDDING

To submit an absentee bid, simply list the lot number(s), description and maximum bid amount on our website bid form, sign, and submit to Auctioneer. Bids will be accepted in whole dollar amounts only. No "buy" or "unlimited" bids will be accepted. When leaving absentee bids, please make sure your bids fall within the proper bidding increments shown on our website bid form. Representatives will bid competitively on your behalf, trying to purchase the lot for the lowest price possible. Due to the nature of competitive bidding, this may result in a lot being sold to an in-house bidder at or just below your maximum bid amount. Bidding limit does not include Buyer's Premium, tax and/or shipping. Tie bids are decided in favor of the earliest postmark or fax date. A 20% deposit by check or credit card will be required of all absentee bids. A signed copy of the absentee bid form, along with the 20% deposit, must be received in the office by 12:00 noon on the day preceding the start of the auction to participate. FAX 319-277-1252

TELEPHONE BIDDING

All arrangements for telephone bidding should be made as early as possible. Phone bidding will not be accepted for items valued under $500 and you must be willing to bid at least up to the low estimate. A representative will call you approximately 2-5 minutes prior to desired lot being offered. Incoming calls will not be accepted. Phone space is limited, so telephone bidding is offered on a first-come, first-served basis. All telephone bid requests must be received in writing by 12:00 noon the day before the start of the sale. Phone bids will be executed only with a signed bid form and 20% deposit.

SUCCESSFUL BIDS

Successful bidders will be notified and invoiced the week following the sale. All bidders will receive a list of sale results if they purchased the sale catalog or enclose a stamped self-addressed envelope with their absentee bid form.

SHIPPING

All successful absentee bidders may request a shipping quote for Jackson’s International to provide shipping to be sent with their invoice. This shipping quote includes the cost of standard shipping as well as charges for materials and labor. Please indicate any special shipping instructions on the bid form. Purchases paid by personal check will not be shipped until funds have cleared Auctioneer's bank. Please note that International shipping is not available for ivory items. These items will only be shipped within the United States, except to California, Connecticut, New Jersey, and New York. All buyers agree to comply with any additional restrictions regarding the trade of endangered species as a condition of sale. It is the purchaser’s responsibility to obtain any licenses and/or certificates as well as any other required documentation prior to shipment. In the case of denial or delay of any required documentation or paperwork, they buyer will still be responsible for making on-time payment for the total purchase price of the lot. Therefore, if you are unsure, Jackson’s recommend that you DO NOT BID on ivory items. We support the ban on the sale of non-antique carved ivory objects of art.

STORAGE FEES

Auctioneer is not liable for any damage to purchases that are not removed from our property within seven (7) business days of the auction. Failure to remove property from Auctioneer's after seven (7) business days after the auction will result in Auctioneer storing your property, with no liability to Auctioneer, and Buyer agrees to hold Auctioneer harmless for any damages associated with said storage. No storage fees will be charged if the merchandise is picked up or shipped within thirty (30) days of the auction. After this period of time, Buyer will be assessed a $10.00 per-lot, per-day storage fee until the merchandise is picked up or shipped. If a storage fee is assessed, it is payable in full prior to removal of any merchandise from Auctioneer's premises. Buyer agrees that after sixty (60) days after the date of the auction, if the purchased merchandise has not been removed or other arrangements have not been authorized by Auctioneer's personnel in writing, the merchandise shall be sold at auction at no reserve. All costs of notice, advertising, commissions, the sale and additional storage fees per lot at $10.00 per day will be assessed against the proceeds of the sale. Any funds remaining after the resale of the items and payment of auction fees and storage fees will be distributed as required by law.

PAYMENT

Immediate payment is required.

A 25% buyer’s premium is added to the hammer price of each item sold. Payment made by irrevocable wire transfer may incur a processing fee. In the event that a credit card is used for payment, a 3% surcharge will be assessed. All property must be paid for within seven (7) business days after auction unless otherwise arranged with an authorized staff member. In the event of nonpayment, your signature on bid form is authorization to charge your credit card for purchases and all additional charges, including the standard buyer’s premium and 3% surcharge. Auctioneer may impose, and the purchaser agrees to pay, a 1.5% per month late charge on the total purchase price on invoices that are outstanding over thirty (30) days after the date of the sale.

All gold, silver, bullion, and/or jewelry lots, or invoices containing said lots, MUST be paid for via wire transfer or cashier's check, no other forms of payment, including credit cards, will be accepted.