The word "Auctioneer," whenever used, means the Schrager Auction Galleries, Ltd., a Wisconsin corporation. The word "Consignor," whenever used, means the owner and/or seller of any particular item or lot.

All property is sold "As Is" without any warranty or representation whatsoever by the Auctioneer or the Consignor, including, without limitation, warranties of merchantability and fitness for a particular purpose, correctness of catalogue description, or the contents of a lot. Subject to Paragraph 18, below, certain artwork may be described in the catalogue as "attributed to." This attribution may come from the Consignor, from the signature on the work, from attached literature, or from the provenance or biographical information received by the Auctioneer. The Auctioneer makes no warranty, representation or guarantee as to the authorship of any artwork described in the catalogue as "attributed to." Determining the value of any artwork and any accompanying material related thereto is the sole responsibility of the prospective bidder. The Auctioneer makes no guaranty as to the authenticity of any artwork. The bidder must rely on his/her own knowledge or source of knowledge when bidding and determining the authenticity and value of any artwork. The Auctioneer shall not be liable to any bidder for any such determination.

All bids are binding upon bidder, and bid retraction is not permitted. A bidder may retract a bid if in the sole discretion of the Auctioneer, the description of an item bid upon by bidder has changed significantly following submission of bid by the bidder.  Once a bidder has clicked on the "Make Bid" button, the bidder or Schrager Auction Galleries may not retract the bid. 

On-line bidding for a section will close at 4:00PM CST. However if a buyer enters a bid within the last 5 minutes of the sale (3:55PM CST), the on-line program will continue to accept bids for the lot until no further bids have been received for 5 minutes.

ALL ITEMS AND LOTS SHALL BE SOLD BY "AUCTION WITH RESERVE" AS DEFINED IN CHAPTER RL120, WISCONSIN ADMINISTRATIVE CODE 120.02 (2), WHICH GRANTS AUCTIONEER THE RIGHT TO ACCEPT OR REJECT ANY BID. The highest bidder accepted by the Auctioneer will be the successful bidder. No bid shall be made illegally or in bad faith. Notwithstanding anything in this Conditions of Sale to the contrary, the Auctioneer reserves the right to withdraw from auction any item or lot prior to the announcement of the close of the transaction by Auctioneer.

Selected items and lots posted in the published catalogue will list an opening bid to guide the bidders in the bidding process. An opening bid must be followed by an incremental bid equal to the amount of the opening bid. The opening bid and incremental bid will constitute two bids. Each bid thereafter shall be made by bidders according to bid increment requirements set forth in the published catalogue.

Unless otherwise announced by the Auctioneer at the commencement of the auction, all items and lots will be bid on as numbered in the published catalogue. The catalogue is considered published when the images, descriptions and rotation numbers are posted on Auctioneer’s web site. If Auctioneer discovers any relevant information after publishing the catalogue, but prior to the close of the auction of such item or lot, the Auctioneer may correct or add to a description or the contents of a lot, and the corrected description or change in content will supersede any previous description or list of content, whether oral or written.

All prospective bidders, whether in person, by telephone, through Auctioneer’s web site or by email, are required to register before the submission of any bid. Upon registration, a prospective bidder will be assigned a "paddle" number qualifying the prospective bidder to bid via the Internet.

All prospective bidders, (i) if not known to the Auctioneer, upon registering to bid will be required to provide the Auctioneer with a banking institution "letter of financial responsibility" or a credit card acceptable to the Auctioneer and (ii) may be required to execute a waiver to accept his/her purchases as illustrated and described in the published catalogue (as amended by the Auctioneer) in the event that the prospective bidder or his/her agent has not physically examined the item or lot.

In the event a Consignor enters the bidding because the Consignor is entitled to a catalogue and has received a registration number, the Consignor will be regarded as a third party bidder and will pay the full commission to Auctioneer if such Consignor submits the highest bid. Notwithstanding the foregoing, all forms of shill bidding (i.e., Consignor bidding on an item or lot that Consignor has listed for sale for the sole purpose of escalating bidding on such item or lot) is forbidden.

Collusion between bidders is forbidden. Bidders may not make a bid under a false name or with an invalid credit card.

Upon registration, prospective bidders may place a credit card acceptable to the Auctioneer on file with the Auctioneer. In the event such bidder submits a successful bid, the bidder authorizes the Auctioneer to charge the full purchase price of the purchased item(s) or lot(s) to the credit card on file with the Auctioneer. If no credit card is on file with the Auctioneer, within ten (10) days of the close of the transaction, the successful bidder shall tender the full purchase price of each purchased item or lot to the Auctioneer in cash, by check, by Visa/Master Card or by Discover Card. All proceeds, less commissions, will be tendered to the Consignor by the Auctioneer. The Auctioneer will not contact any "underbidder." If the successful bidder has not paid for his/her purchase within ten (10) days after the close of the transaction, the Auctioneer, among other remedies set forth, below, may suspend or revoke such bidders bidding privileges and/or cancel the sale and resell the items or lots upon which the bidder submitted a successful bid.

All successful bidders, except dealers who provide the Auctioneer with a valid resale number, are subject to State of Wisconsin and Milwaukee County sales tax of 5.6% which shall be paid by the successful bidder to the Auctioneer along with the purchase price of the items or lots.

Upon the full payment of the purchase price by the successful bidder, title to the purchased item(s) or lot(s) will pass to the successful bidder, and such bidder shall assume all risk of loss and responsibility for the property.

The successful bidder must remove any purchased items or lots by the last pick-up date as posted under the Pick-Up Dates and Hours section set forth on Auctioneer’s web site. A storage and handling fee of $10.00 per day will be charged to the successful bidder if the successful bidder has not removed the purchased item(s) or lot(s) from Auctioneer’s storage facility by the date of the last pick-up as set forth on Auctioneer’s website. If the purchased item(s) or lot(s) are not removed by the last pick-up date, the Auctioneer, among other remedies set forth, below, may transfer any item or lot to a public warehouse for the account and at the risk and expense of the successful bidder. No item or lot will be released to or removed by the successful bidder until the successful bidder has delivered full payment to the Auctioneer of such purchased item or lot and all related storage fees, if any.

If the any bidder fails to comply with any of the Conditions of Sale, set forth herein, including, but not limited to, the payment of any purchase price or the pick up of any purchased item or lot, the Auctioneer may seek any remedy available under law or otherwise, including, but not limited to, (i) the right to hold the bidder liable for the total purchase price of any item or lot bid upon by the bidder and any related storage charges, (ii) cancel the sale and retain as liquidated damages any payment made by the bidder, (iii) resell the property, whether at auction or private sale, (iv) any combination of the foregoing or (v) any other action the Auctioneer deems appropriate to remedy bidder’s failure to comply with the Conditions of Sale. In any case, the successful bidder will be liable for any deficiency and any costs, handling charges or storage fees due hereunder. In addition to the remedies set forth, above, if a successful bidder fails to remove any purchased item(s) or lot(s), the successful bidder will be deemed to have granted the Auctioneer (i) a security interest in, and (ii) the right to retain as collateral for such bidder’s obligation to the Auctioneer, any property in the Auctioneer’s possession owned by such bidder. In connection with the above grant of the security interest, the bidder hereby grants the Auctioneer the right to file a financing statement to perfect such security interest. The Auctioneer shall have all the rights accorded to an auctioneer under the Wisconsin Uniform Commercial code.

The Auctioneer will not provide presale estimates of value. Suggested bids either (i) originate from the Consignor or (ii) cite reference materials provided by the Consignor. All suggested bids are a part of the information and/or provenance which is imparted to prospective bidders by the Auctioneer and are provided to bidders only for informational purposes to assist the bidder in determining the value of an item or lot.

All bidders, whether licensed in Wisconsin or not, must comply with all federal and state regulations and Auctioneer’s registration procedures, including, but not limited to, the restrictions and procedures posted on Auctioneer’s web site and at Auctioneer’s place of business, in order to bid on and/or purchase handguns, long guns or rifles.

If within twenty-one (21) days of the acceptance of the final bid all of the following occurs: (i) a successful bidder provides notice in writing to the Auctioneer alleging in detail that the description of any item or lot is not substantially correct as to "Authorship" based on a fair reading of the published catalogue (as amended by any posted notice or change or oral announcements during or prior to the auction), and (ii) the successful bidder returns such item(s) or lot(s) to the Auctioneer in the same condition as at the time of the acceptance of the final bid, and (iii) the Auctioneer agrees that such allegations are correct (collectively, the "Dispute Procedure"), then the original purchase price will be refunded to the successful bidder. If the Dispute Procedure is completed after the expiration of the twenty-one (21) day period, but in no event later than two (2) months from the acceptance of the final bid, and the Auctioneer already has paid the Consignor the amounts owed to the Consignor in connection with the transaction in question, the Auctioneer shall (y) pay the successful bidder the amount of the commission earned by the Auctioneer on such transaction and (z) make a demand on the Consignor to pay the balance of the original purchase price to the successful bidder. If the Consignor fails to pay such amount promptly, the Auctioneer shall disclose the identity of the Consignor and assign to the successful bidder the Auctioneer’s rights against the Consignor with respect to the item(s) or lot(s) the purchase of which rescission is sought. UPON SUCH DISCLOSURE AND ASSIGNMENT, ANY LIABILITY OF THE AUCTIONEER WITH RESPECT TO SUCH ITEM OR LOT SHALL IMMEDIATELY AND AUTOMATICALLY TERMINATE. The foregoing limited right of rescission is available to the successful bidder only and may not be assigned to or relied upon by any subsequent transferee of the purchased item(s) or lot(s). "Authorship" means the identity of the creator and/or the period, the culture, and the source or origin of the item or lot, as the case may be, as set forth in the published catalogue. This section 18 shall not apply to any items listed in the published catalogue as "attributed to."

At the request of the purchaser, and at the sole discretion of the Auctioneer, Schrager Auction Galleries, Ltd. may consent to retain on the premises and re-sell any item purchased at auction. Such goods will be subject to an administrative fee of $20 per lot, payable at the time the goods are accepted for re-consignment. In addition, the sale of such goods will be governed by the terms of the current standard consignment agreement. Standard commission fees will be charged in addition to the appropriate re-consignment fees.

Schedule of incremental bidding:

$25,000+ $1000