Lot #104 Lot # 104 - Lili Ledy Speeder Bike - Unused [Kazanjian Collection]

Terms & Conditions

These Terms and Conditions of Sale (“Conditions”) set out the agreement between the Bidder/Buyer, on the one hand, and Prop Store and the Seller, on the other hand. By registering to bid and participate in a Prop Store Auction, the Bidder/Buyer 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.

1. Definitions

When the following capitalized words or terms are used in these Conditions, they shall 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 often unique and 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. Prop Store’s staff are not professional restorers.  Accordingly, the descriptions of,  and images and statements of condition of the Lots contained in Prop Store’s catalog or on its website are for illustrative purposes only. Prop Store cannot guarantee that colors are properly shown. All Lots are sold “as is”. Bidders are encouraged to inspect the Lots and satisfy themselves as to the Lots’ condition before bidding.  Where necessary, Bidders should seekand obtain independent professional advice.

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 Prop Store before participating at an Auction.

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    Each person registering to bid must also provide Prop Store with an up–to-date, valid, government-issued photo identification (e.g. passport, driver’s license). If the photo identification does not list the Bidder’s current address, proof of current address (such as a utility bill or bank statement dated within the last three (3) months) will also be required.

3.1.3.  Each Company registering to bid must provide a certified copy or original articles of incorporation, articles of organization, or other documents satisfactory to Prop Store – contact Prop Store at +1 818 727 7829 for confirmation of what will be acceptable.

3.1.5.  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 in the Auction on the principal’s behalf.

3.1.6.  The Bidder agrees and consents that all personal information provided by the Bidder at registration may be used by Prop Store to:

3.1.6.1.  Ship Lots purchased at Auction to the Buyer;

3.1.6.2. Process the Buyer’s payment;

3.1.6.3. Conduct credit checks, as deemed necessary by Prop Store in its sole discretion; and/or

3.1.6.4. Inform the Bidder about other auctions, products and services provided by Prop Store and its affiliates (please contact Prop Store 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).

3.1.7. By participating in and/or attending the Auction and signing the registration form, each Bidder consents to be filmed and/or photographed and agrees and authorizes Prop Store to use and publish such film and/or photographs and likeness for use in (1) providing online access to the Auction,

(2) recording the results of the Auction, (3) print, digital, online and all other media for marketing purposes (including without limitation, on Prop Store’s website, YouTube and other online platforms), and (4) in any other Prop Store publications of whatever nature. The Bidder releases Prop Store and holds it harmless from any reasonable expectation of confidentiality or privacy associated with such images and releases Prop Store and any third parties involved in the making, creation or publication of the images, or any marketing or other materials derived therefrom from all and any liability for claims made in respect of such publication. Publication of the images in whatever format confers no right of ownership on the individual or right to royalties or payment.

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 the Lots free of charge by appointment with Prop Store.

3.3.  Delivery Costs

3.3.1.  At Bidder’s request, without any liability therefor, Prop Store can provide shipping estimates before the Auction. Any Bidder requesting such estimates should email support@propstore.com with the Lot number and shipping address at least three (3) days before the start of the Auction.  Real-time shipping estimates are also available on many Lots through the online bidding platform.

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 can submit export license applications upon request. Neither Prop Store nor PackAir Airfreight, 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 No Reserve Auction

4.1.1.  Certain Lots in this auction are sold without a Reserve Price; the majority of Lots in this auction are 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 Prop Store. Prop Store may disclose or keep confidential the Reserve Price at its entire discretion.

4.2 Bidding Process

4.2.1.  Prop Store reserves the right to refuse admission and/or participation at the Auction and to reject any bid.

4.2.2.  Bids may not be accepted from unregistered bidders and all Bidders must be eighteen (18) years or older.  All bids must be made in US dollars.

4.2.3. 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 all applicable taxes, and any and all shipping charges, storage fees and/or other costs).

4.2.4. All bids are by individual Lot unless the auctioneer states to the contrary during the live Auction. Lots will usually be sold in their numbered sequence, unless the auctioneer announces otherwise at the Auction.

4.2.5.  The auctioneer may accept bids from Bidders present in the sale room, via telephone, or via online at the time of the Auction. The auctioneer may also accept proxy or absentee bids delivered to Prop Store before the start of the Auction. Proxy or absentee bids must be submitted either by using the form in the Buyer’s Guide or the online form at www.propstore.com.  Proxy or absentee bids will be executed at the lowest possible price. If Prop Store receives proxy or absentee bids on a particular Lot for identical maximum bids, and at the Auction these proxy bids are the highest bids on the Lot, the Lot will be sold to the Bidder whose written bid was first received by Prop Store.

4.2.6.  Any Bidder wishing to place bids at the time of the Auction via telephone must provide to Prop Store a list of Lots on which they intend to bid at least twenty-four (24) hours before the start of the Auction.

4.2.7.  In addition to Prop Store’s Conditions, any Bidder placing bids online must comply with the terms for use of the online auction platform access provider.

4.2.8.  Except as expressly stated in the Buyer’s Guide or the Conditions, Prop Store shall have no liability arising out of or related to any errors or omission

with respect to bids made online, by telephone, or by proxy.

4.2.9. The Auction will be tracked on a video or digital screen, which may display, among other things, a photograph of the Lot offered for sale and the then-current bid. Bidders understand and agree that errors may occur in its operation and, except as expressly stated in the Buyer’s Guide or these Conditions, Prop Store shall have no liability arising out of or related to any errors or omission in respect thereto.

4.3 Auctioneer's Authority

4.3.1.  The auctioneer has the right to exercise reasonable discretion in refusing any bid, advancing the bidding in such a manner as he or she may decide, dividing any Lot, combining any two or more Lots, and whether during or after the sale, in the case of error or dispute, determining the successful Buyer, continuing the bidding, cancelling the sale, or reoffering and reselling the Lot in dispute.  If any dispute arises after the sale, then, in the absence of any evidence to the contrary, the sale record maintained by the auctioneer will be conclusive.

4.3.2.  The auctioneer shall have sole discretion to accept or decline any bid.

4.3.3. Subject to the auctioneer’s reasonable discretion, the Bidder placing the highest bid accepted by the auctioneer will be the Buyer and the striking of his/her hammer marks the acceptance of the highest bid and the conclusion of a contract for sale between the Seller and the Buyer. Each Bidder understands and agrees that Prop Store, as auctioneer, is not a party to any contract for sale that results from the Auction.  Risk and responsibility for the Lot (including frames or glass where relevant) passes to the Buyer upon the fall of the hammer and the Buyer should arrange insurance cover for the Lot, if required.

5. After the Auction

5.1.  Payment by Buyer

5.1.1.   When making a bid, every Bidder acknowledges that such bid is a binding offer to buy the Property at that price (plus the Buyer’s Premium, all applicable taxes, and any and all shipping charges).  All sales are final.

5.1.2.   A Buyer’s Premium at a rate of twenty-three percent (23%) will be applied to all winning bids.  The Purchase Price of the Property shall consist of the Bidder’s winning bid on the Property plus the Buyer’s Premium.  The Purchase Price does not include any duties, taxes, sales tax, VAT, and/or customs fees (where applicable), and shipping and handling charges.

5.1.3.  Prop Store will notify the Buyer and send (by email unless requested otherwise) a payment invoice setting out the Purchase Price and itemizing the Hammer Price, the Buyer’s Premium, plus any applicable sales tax, within seven (7) business days of the end of the Auction.

5.1.3.1. For all sales within California, sales tax at the prevailing rate (currently 9.50%) will be applied to the Purchase Price. 

5.1.3.2. For all sales within Washington state, sales tax at the prevailing rate (currently 6.50%) will be applied to the Purchase Price. 

5.1.3.3. For all sales within Illinois, sales tax at the prevailing rate (currently 6.25%) will be applied to the Purchase Price. 

5.1.3.4.  Delivery addresses outside the states listed above will be exempt from sales tax.

5.1.2. Payment of the invoice is due within seven (7) business days from receipt of the invoice and must be made by the Buyer.  Payments from any other source will not be accepted and shall be returned by Prop Store.

5.1.3.  Payment plans may be available in increments of up to three (3) months. Buyers wishing to utilize the payment plan service, if approved by Prop Store, shall be required to pay a deposit of twenty percent (20%) of the Purchase Price (the “Deposit”), within seven (7) business days of being invoiced.  The balance of the Purchase Price shall then be split over up to three (3) months, at the Buyer’s option. The payments of the remaining balance shall be made as follows:

5.1.3.1.   If the one-month payment plan is selected, the balance of the Purchase Price shall be due within thirty (30) days of the close of the Auction.

5.1.3.2.   If the two-month payment plan is selected, forty percent (40%) of the Purchase Price shall be due within thirty (30) days of the close of the Auction and the remaining forty percent (40%) of the balance of the Purchase Price shall be due within sixty (60) days of the close of the Auction.

5.1.3.3.   If the three-month payment plan is selected:  twenty-six and sixty-six percent (26.66%) of the Purchase Price shall be due within thirty (30) days of the close of the Auction; twenty-six and sixty-six percent (26.66%) of the balance of the Purchase Price shall be due within sixty (60) days of the close of the Auction; and the remaining twenty-six and sixty-eight percent (26.68%) of the balance of the Purchase Price shall be due within ninety (90) days of the close of the Auction.

5.1.4.  Prop Store offers no grace period on payment plan deadlines.  If the Buyer does not adhere to the 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 Prop Store shall be retained by Prop Store as liquidated damages.  Moreover, Prop Store 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 Prop Store and/or the Seller, even in circumstances where Prop Store has released the Lot to the Buyer.  Among other remedies available to Prop Store and the Seller for failure to render full payment of the Purchase Price, Prop Store and/or the Seller shall be entitled to immediate possession of the Lot purchased by the Buyer, if delivered to the Buyer.  The Bidder shall return the Property to Prop Store within 3 business days of written demand by Prop Store of the return of the Property.

5.1.6.  Prop Store vouchers and other discount codes are not valid as payment for Auction items.

5.1.7. Only the memorabilia item shown in the photos of a given product listing is included in the sale.  Mannequins, display stands, and scale measures

are not included with your purchase, unless expressly stated in the product description.

5.1.8.  The Buyer agrees that Prop Store will charge the credit card provided at registration for all items purchased at auction, and any future Prop Store auctions in which the Buyer participates if not paid within seven (7) business days after invoicing.

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 five (5) to ten (10) working days), or cash (up to a maximum of $5,000).  Please note 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.

5.2   Default by Buyer

5.2.1.  Failure to timely make payment of any amounts due to Prop Store and/or the Seller shall constitute an event of Default by the Buyer. In the event of Default for nonpayment, Prop Store may charge interest on the unpaid amount at the rate of five percent (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 six (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 Prop Store 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 Prop Store 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, Prop Store, 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. Prop Store may, in its sole discretion, apply any proceeds of sale then due or thereafter becoming due to the Buyer from Prop Store or any affiliated company, or any payment made by the Buyer to Prop Store or any affiliated company, whether 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 Prop Store or any affiliated companies. In addition, a defaulting Buyer will be deemed to have granted and assigned to Prop Store 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 Prop Store may retain and apply such property or money as collateral security for the obligations due to Prop Store or to any affiliated company.  Payment will not be deemed to have been made in full until Prop Store has collected good funds.

5.2.4.  Prop Store may further reject at any future auction any bids made by or on behalf of the Buyer or require a deposit from the Buyer before accepting any further bids.

5.2.5.  Prop Store may take such other action as Prop Store deems necessary or appropriate.

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

5.2.7.  Prop Store shall be entitled to retain the 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 Prop Store shall reasonably require.

5.3   Shipping and Storage

5.3.1.  The Buyer is solely responsible for all shipping, handling, and delivery costs. Prop Store can help you arrange packing and shipping through FedEx for smaller items or PackAir AirFreight, Inc. for larger items, or you can use your own licensed carrier, approved by Prop Store. Please contact Prop Store at +1 818-727-7829 or supportLA@propstore.com for further details.  Prop Store 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.

5.3.2.  If within fourteen (14) calendar days after the close of Auction, the Buyer has not made arrangements for and paid the shipping cost of the Lots purchased, or has otherwise failed to collect the Lots, a storage fee of three percent (3%) of the Hammer Price per month shall be charged to the Buyer. If the Buyer has failed to pay the Purchase Price and the cost of shipping and handling within fourteen (14) calendar days after the close of Auction, Prop Store, at its option, may cancel the sale.

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. Prop Store will ship all packages with the full value of the Lot declared. The Buyer understands and agrees that Prop Store 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 Prop Store and in those circumstances the Buyer will be charged and will pay storage cost and Prop Store’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 Prop Store 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 Prop Store 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 Prop Store 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 Prop Store’s payment terms nor Prop Store’s right to charge interest or storage charges on late payment.  Prop Store shall not be obligated to rescind or cancel a sale or to refund any monies paid by the Buyer to Prop Store as a result of or related to the Buyer’s failure or inability to obtain an export license.

5.3.6.  In the event that the Bidder refuses to accept a shipment due to import duty charges, and the item is returned to Prop Store, the Bidder shall be subject to a charge of twenty percent (20%) of the Purchase Price of the returned item, plus all shipping charges incurred in the shipment and return shipment of the Property.  The balance of the price paid for the Property will be issued only as a store credit to be used against future purchases.  Store credits are proprietary to each office of Prop Store and may not be transferred to another office.

5.3.7.  Should the Buyer make own arrangements with third parties for shipping, handling, or delivery of any Lots, Prop Store shall not have and accepts no liability or responsibility for the acts or omissions of any such third parties.  Similarly, where Prop Store suggests other handlers, packers or carriers, its suggestions are made on the basis of its general experience of such parties in the past. Although Prop Store shall use reasonable efforts to take care when selecting third parties for shipping and delivery, the Buyer understands and agrees that Prop Store 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 Prop Store's Liability

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

5.4.2.  Prop Store 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 Prop Store’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. Prop Store’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   Prop Store guarantees the following:  (i) that each lot of Property is what is stated in the title block of that lot of Property 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 of Property is offered for sale); and (ii) that each lot of Property is genuine and authentic, and not a counterfeit or reproduction.  Certain lots of Property have been assigned a “grade” by an independent, third-party.  Prop Store does not guarantee the accuracy, veracity, or quality of the grades assigned to the Property, and shall have no liability or responsibility therefor.  Prior to the Auction, it is the Bidder’s sole responsibility and obligation to inspect each lot of Property on which the Bidder wishes to place any bid to determine its condition.

6.2   If a Bidder demonstrates, to Prop Store’s reasonable satisfaction, that the guarantees as set forth in paragraph 6.1 made by Prop Store are materially incorrect, the sale will be rescinded if the Property is returned to Prop Store in the same condition in which it was at the time of sale.  In order to satisfy Prop Store that the guarantees are materially incorrect, Prop Store reserves the right to require the Bidder to obtain, at the Bidder’s expense, the opinions of two experts in the field, mutually acceptable to Prop Store and the Bidder.

6.3   In the event a sale is rescinded in accordance with clause 6.2 herein, Prop Store shall repay to the Buyer the Purchase Price.  Repayment of the Purchase Price shall be the Buyer’s sole remedy for an incorrect guarantee, 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 6.  The Buyer expressly agrees that Prop Store 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.

6.4   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. Prop Store will make all commercially reasonable efforts to make description revisions readily available during the Auction. While Prop Store uses commercially reasonable efforts to include accurate and up-to-date information in this auction, Prop Store makes no warranties or representations as to its accuracy.  Prop Store assumes no liability or responsibility for any errors or omissions in the content of the Auction.  Any reference images appearing within Prop Store’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.  Except as expressly provided in these Conditions, Prop Store shall have no liability to the Bidder in respect of any Property and all and any implied warranties and conditions are excluded to the fullest extent permitted by law. 

7. Warranties and Representations

7.1.  The copyright in all images, illustrations and written material produced by or for Prop Store relating to this Auction (the “Images”), is and shall remain at all times the property of Prop Store. The purchase of any Lot of Property does not include ownership in or to the trademarks registrations, copyrights and/or any other intangible intellectual properties associated with the Property. Therefore, purchase of the Property does not permit the Buyer to replicate or to otherwise exploit the Property.  The Buyer agrees to indemnify and hold harmless Prop Store 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 Prop Store 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, trademarks, or intellectual property in or to the Property or Images.

7.2. Prop Store 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 Prop Store.

7.3   TO THE FULLEST EXTENT PERMITTED BY LAW, PROP STORE EXPRESSLY DISCLAIMS ANY WARRANTY FOR ANY PROPERTY OFFERED FOR SALE IN THE AUCTION.  SAID PROPERTIES ARE SOLD AND DELIVERED TO THE BIDDER “AS IS, WHERE IS, WITH ALL FAULTS.”  PROP STORE MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY NATURE WHATSOEVER, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY OFFERED FOR SALE, SPECIFICALLY INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF DESIGN, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE, OR WARRANTIES ARISING FROM A COURSE OF DEALING, USAGE OR TRADE PRACTICE, ALL OF WHICH WARRANTIES ARE HEREBY EXPRESSLY DISCLAIMED.

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.  Therefore, there are certain inherent risks associated with the use of any Property offered for sale in the Auction.  Except as otherwise specifically set forth herein, Prop Store makes no warranties as to the correctness of the description of the physical condition, size, quality, rarity, importance, medium, provenance, exhibitions, literature or historical significance of any of the above-described goods.  Furthermore, Prop Store accepts no liability whatsoever for the safety, reliability, durability or performance of any of the Property offered for sale in the Auction.  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 Prop Store shall have no liability for any such loss or injury and the Buyer expressly releases Prop Store from any such loss or injury.  No oral or written statement made in the product description, advertisement, and bill of sale or elsewhere made by Prop Store shall be considered as a warranty or representation.

7.7.  Except as expressly provided herein, Prop Store 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.  The Property does not constitute children’s products or childcare articles, as those terms are defined in the U.S. Consumer Product Safety Act and should be kept out of the reach of children.

7.9.  Except as otherwise specifically set forth herein, the Bidder 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 any Property purchased at Auction. The Bidder understands and agrees that Prop Store and its shareholders, directors, officers, employees, parents, affiliates, subsidiaries, contractors, employees, representatives, and agents (collectively, the “Released Parties”) shall have no liability for any such loss or injury and the Bidder does hereby release, acquit and forever discharge the Released Parties of and from any and all rights, claims, demands, liabilities, judgments, suits, expenses, actions, causes of action, damages, costs, losses, compensation, contracts, agreements and debts (including, without limitation, attorneys’ and consultants’ fees and costs) (collectively “Claims”) which Bidder now has or may hereafter have against Releasees whether known or unknown, suspected or unsuspected including, but not limited to, those arising out of or related to Bidder’s purchase, use, shipment, alteration and/or modification of any Property purchased at Auction.

7.10.Each Bidder and Buyer expressly agrees that Prop Store 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 Important Terms

8.1.  Bids will not be accepted from those persons under the age of eighteen (18) without the written consent of said person’s parent or legal guardian.  Written consent must acknowledge the Conditions.  The written consent constitutes an agreement by the parent or legal guardian to be bound thereby on behalf of the bidder.

8.2.  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.

8.3.  The contract is between the Seller, the Buyer and Prop Store and no other person shall have any rights to enforce any of its terms.

8.3. If Prop Store 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 Prop

Store 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.

Any claim or controversy arising out of or relating to the sale of the item between any Bidder/Buyer and Prop Store 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.