UNICORN AUCTIONS

CONDITIONS OF SALE

Last Edit/Update: 1/1/2020

 

References in these Terms and Conditions to ‘Unicorn Auctions’, ‘we’ or ‘us’ refer to Unicorn Auctions LLC (“UA”), founded in 2019 in Chicago, Illinois. By registering and/or bidding in a public auction held by UA, you agree to be bound by the following terms of the Unicorn Auction Policies (“UAP”).

 

The UAP collectively describe the basis on which you may use the auctioneering services made available by UA at any or all of the following:

-       www.UnicornAuctions.com (“the Website”)

-       bid.UnicornAuctions.com (“the Platform”)

-       the Unicorn Auctions app on iOS and/or Android (“the App”).

Any or all of the UAP may be amended from time to time, for this and all future UA auctions.

 

The UAP may be amended by posted notices, oral announcements, or announcements on UA’s website made before or during the sale.

 

The property described in this catalog will be offered at public auction by UA as agent for various consignors (“the Seller”), under the UAP.

 

References herein to ‘you’ and ‘your’ mean the person or entity using, downloading, and/or registering to use the Website, the Platform, and/or the App.

 

1) We provide auctioneering services on our Website whereby the Seller may sell their alcoholic or non-alcoholic goods (“Goods”) and a purchaser (“the Buyer”) may purchase such Goods by auction. These will be sold and purchased in lots, with one lot meaning the goods made available to purchase by auction at any one time.

 

2) The auctions take place online on the Website, the Platform and the App, and whether you are the Seller or the Buyer, you will be required to register on the Website, the Platform or the App.

 

3) When making a bid, the registered bidder accepts personal liability to pay the purchase price, including Buyer’s Premium and all applicable charges. If acting as a third party, the registered bidder whose name is on the account assumes all liability to pay UA in full for the entire outstanding balance.

 

4) A potential Buyer must complete a digital registration form prior to bidding, provide an active credit card that can be pre-authorized for $1000, and agree to our Terms and Conditions. UA may require additional references such as a form of identification, a deposit, or a hold of funds on a registered credit card.

 

Registration Details

 

4.1 - Registration on the Website, the Platform or the App ("Registration") is free.

 

4.2 - When registering we may ask you to provide some personal information such as your name, address, email address, date of birth and mobile number. If you are a seller, we may also ask you for your bank details to allow us to make payments due to you from auctioning your Goods. If you are a buyer, we may also ask you for your details to allow us to carry out a credit card pre-authorization or credit check.  All personal data held by us shall be held and processed in accordance with the Data Protection Act 1998. For more information on how we handle your personal data, please read our Privacy Policy.

 

4.3 - Once you have registered you are expected to keep your information up to date in your account and are required to keep your account details and passwords strictly confidential and you must not permit any third party to use or access your account on your behalf. You will be liable for any and all bids made using your account.

 

5) UA has the right, at our complete discretion, to refuse admission to the premises or participation in any auction and to reject any bid.

 

6) Every attempt has been made to describe all Goods and property as accurately as possible. However, UA and Seller do not warrant or represent, and deny responsibility for, the accuracy of catalog descriptions, encompassing but not limited to vintage, provenance, authenticity, quality, and condition as may be stated in the catalog. All statements made relating to the property in the catalog or salesroom or contained in advertisements or promotional materials are merely statements of opinion and can at no time be construed as warranties or representations of fact or assumptions of any liability on the part of UA or Seller.

 

7) The Buyer accepts all purchases “as is.” No returns will be accepted.

 

8) UA reserves the right to amend the description of any lot by means of an announcement or notice in the salesroom, the App, the Platform, or the Website, and to withdraw any lot at any time.

 

9) Unless otherwise indicated, a reserve or confidential minimum selling price may be established on any lot. Should bidding not meet the reserve price, UA may enforce the reserve by bidding on behalf of the Seller.

 

10) The highest bidder accepted by the auctioneer shall be the Buyer, who will assume the full risk and responsibility of the lot upon the fall of the auctioneer’s gavel. The auctioneer may refuse any bid and advance the bidding at his or her discretion. The auctioneer may put up any lot for rebidding at any time during the auction. If, during the auction, the auctioneer considers that a dispute has arisen between any bidders, such dispute will be resolved by the auctioneer. In the event of any dispute during or after the auction, the records of the auctioneer will be conclusive, and the decision of UA will be final and binding on all parties.

 

11) Bids submitted to UA are processed and executed as a service and convenience to bidders. Neither UA nor its staff shall be responsible for any failure to execute such bids or any error relating to the same.

Bidding Details

 

11.1 - All real-time bidding is carried out via the Platform or the App. In addition to real-time bidding, UA offers absentee bidding, either/or bidding, and various bidding tools.

 

11.2 - In the event of a tie winning bid, the Bidder who submitted their bid first will take the lot. The relative order of bids is determined by the time stamp that accompanies each submitted bid.

 

11.3 - Bidding increments are provided pre-defined on the Platform and the App, as well as being included below for reference. If bids are placed on the Platform or the App with incorrect bidding increments, they will be rounded down to the closest correct increment.

 

up to $200  .………….....……  $5 ($5, $10, $15...)
$200 - $500  .…………..……..  $10 ($200, $210, $220...)
$500 - $1000  .………..………  $25 ($500, $525, $550...)
$1000 - $5000  ………....…….  $50 ($1000, $1050, $1100...)
$5,000+  ………………....…..   $100 ($5,000, $5,100, $5,200...)

 

11.4 - Consignors and their agents are strictly forbidden from bidding on their own property.

 

11.5 - All bids and lots are subject to the auctioneer’s discretion.

 

11.6 - UA reserves the right to request a deposit, bank references, and a written confirmation of bids from all registered bidders. The decision to request a deposit and its ensuing amount and format rests solely with UA.

 

11.7 - For help setting up absentee bids, either/or bids, placing spending limits, and with any other bidding questions, please reach out at info@UnicornAuctions.com.

 

12 - To register for a bidding account, go to the Platform, bid.UnicornAuctions.com, the iOS App Store to download the Unicorn Auctions iOS app, or the Google Play store to download the android Unicorn Auctions app - all three of which have access to bidding and auction registration.

 

Procedures for Bidding & Payment

 

12.1 - UA strongly encourages new bidders to register at least 72 hours before the start of the auction in case of questions or difficulties.

 

12.2 - Bidders will need to provide an e-mail address to use as a username, a shipping and a billing address, a valid credit card (MasterCard, Visa, Discover, or American Express), and a daytime phone number. Every registered bidder’s card will have a pre-authorization charge of $1000 applied and then immediately voided. A pre-authorization charge does not transfer funds from the card holder’s account but merely confirms that funds are available.

 

Catalog Format

 

12.3 - As stated in the section 7, the Buyer accepts all purchases “as is” and no returns will be accepted.

 

12.4 - The description of products is followed by a lot number and the quantity offered. Auction estimates are provided for each lot with all figures based on the most recent auction market results for the same or comparable spirits. Rarity and condition are also taken into consideration. Estimates do not include UA’s Buyer’s Premium or required tax.

 

12.5 - Images on the Website, the Platform, and the App are representative only, and they may or may not depict the actual lot for sale, despite UA’s commitment to actual product images and photos.

 

13) The term “final bid” as used herein shall refer to the price at which any lot is sold (sometimes referred to as “hammered”) to the Buyer. The purchase price, due from the Buyer, shall be the aggregate of the final bid and a premium of 15% of the final bid (“Buyer’s Premium”), together with any applicable sales or use tax. The complete purchase price will be due upon finalization of the auction, and the authorized credit/debit card will be charged immediately, unless other circumstantial arrangements are made and documented with UA.

 

14) If payment in good cleared funds is not received within 7 days of the purchase, UA reserves the right to assess a late fee of up to 3% of the total purchase price, in addition to any other rights and remedies available by law to UA, and additional 3% late charges every week following day 7.

 

15) No property will be released to the Buyer until UA receives payment in full for all open invoices, including any applicable state and local taxes or compensating use taxes of another state which UA may be required by law to collect. Any applicable storage or handling fees must also be paid prior to the release of the property. In the event a charge or check is not accepted by the appropriate financial institution, the Buyer remains liable for all amounts owed.

 

16) Please include an invoice number on all wires, ACHs, and checks.

 

17) Buyers who pay their invoice, in full, via wire, paper, or electronic check by 5pm CT the Friday following the sale will receive a discount equal to 1% of the total amount of their current auction invoice IN ADDITION to a discount of 1% which can be applied towards a purchase at a future auction. This discount can only be applied for exactly one (1) year after original purchase and is non-transferable.

 

18) If payment has not been received by 21 days after the close of the sale, UA reserves the right to charge a late fee of 3% of the total purchase price of the Buyer’s invoice. If the Buyer’s invoice remains outstanding, additional late fees of 3% will also be charged every 14 days past the initial 21 day period. UA also reserves the right to charge all credit cards on file for any amount still due after 21 days as well as any resulting late fees and other costs incurred, including credit card processing fees.

 

19) If the Buyer fails to make payment in full in good cleared funds within the time required by section 12 above, either through a standard credit card or debit payment, or a special arrangement made and documented with UA, they will be in default, and we shall be entitled in our absolute discretion to exercise one or more of the following rights or remedies (in addition to any other rights or remedies available to us by law):

 

19.1 - to cancel the sale;

 

19.2 - to hold the defaulting Buyer liable for the total amount due and to commence legal proceedings for its recovery together with interest, to the fullest extent permitted under applicable law;

 

19.3 - to resell the property publicly or privately on such terms as we see fit. The defaulting Buyer shall be liable for payment of any deficiency between the total amount originally due to us and the price obtained upon resale as well as for all costs, expenses, damages, legal fees, commissions, and premiums associated with both sales or otherwise arising from the default;

 

19.4 - to pay the Seller an amount up to the net proceeds payable in relation to the amount bid by the defaulting Buyer. The Buyer acknowledges that UA shall have all the rights of the Seller, however arising, to pursue the Buyer for such amount;

 

19.5 - to use against any amounts which we may owe the Buyer in any other transactions, the outstanding amount remaining unpaid by the Buyer;

 

19.6 - where several amounts are owed by the Buyer to us, in respect to different transactions, to apply any amount paid to discharge any amount owed in respect of any particular transaction, whether or not the Buyer so directs;

 

19.7 - to reject at any future auction bids made by or on behalf of the Buyer, or to obtain a deposit from the Buyer before accepting any bids;

 

19.8 - to exercise all rights and remedies of a person holding security over any property in our possession owned by the Buyer to the fullest extent permitted to the secured party by the law under the Uniform Commercial Code in the State of Illinois; the defaulting Buyer grants UA a security interest in all such property held by us and we may file a financing statement with the Illinois Secretary of State to perfect a security interest in such property;

 

19.9 - to charge any credit card on file for the invoice balance including any late charges.

 

The defaulting Buyer shall be liable for UA’s legal fees and expenses with respect to any actions taken by it under this entire section 10.

 

Limits on Shipping

 

20) UA will make a reasonable attempt to assist the Buyer in arranging shipment of all spirits purchased. However, UA does not assume any responsibility for shipment to the Buyer. The Buyer solely has that responsibility. Bidders are cautioned that many states impose restrictions on the transport of alcoholic beverages into their jurisdictions from other states. These restrictions may affect your purchase of spirits from UA; we urge you to investigate the laws in your state regarding this subject before shipping any spirits purchased from UA. In some instances, special permits or licenses may be required for the Buyer or shipper. UA will not assume any obligation or responsibility for applying for or obtaining said permits or licenses. Purchases that cannot be shipped because of shipping restrictions must be collected by the Buyer from UA’s cellar in Chicago, IL, and all applicable Illinois and Cook County sales tax must be paid prior to collection.

 

All sales are final, “as is,” and cannot be cancelled or refunded for any reason, including shipping limitations.

 

Shipping Policy

 

21) UA’s Shipping Policy is as follows:

 

21.1 - Buyer acknowledges that the title to all spirits purchased passes to the Buyer at the time of purchase or at the hammer. Further, the Buyer authorizes UA to choose a common carrier on behalf of the Buyer which will act as the Buyer’s agent;

 

21.2 - Buyer acknowledges and agrees to be responsible for all applicable excise, use, and sales taxes due to a state related to the purchase of these spirits;

 

21.3 - UA always recommends collecting your purchased spirits at UA, but if Buyers wish to arrange delivery of their spirits after purchase, they are responsible and bear all risk, including selecting a carrier and providing delivery instructions.

 

21.4 - Buyers should contact UA following the close of the auction to make shipping or collection arrangements. Once payment is made in full spirits can usually be processed for shipment or collection within 2 business days of notifying UA of the intent to ship or collect. Invoices exceeding 200 necks may require additional processing time. Invoices are not prepared or shipped until UA is contacted by the Buyer. Unpaid invoices will not be prepared for shipment or collection. All invoices must be shipped in full; UA will not split invoices or lots.

 

21.5 - Buyer warrants that he/she is at least 21 years of age and is purchasing the spirits for personal use;

 

21.6 - Buyer shall be responsible for the receipt of these spirits by a person at least 21 years of age or over.

 

21.7 - Buyer will be assessed a return fee should any shipment be returned to UA due but not limited to: no person 21 years of age or older at the provided shipping address, invalid shipping address, or shipment refused by recipient.

 

Packing

 

22) Purchases may require repacking services for safe shipment, depending on the size/quantity of the shipment.

 

Insurance

 

23) Shipments arranged by and billed to UA are insured until delivered to the Buyer’s shipping address. Shipments arranged by the Buyer or collected directly from UA’s cellar are not insured once purchases leave UA’s cellar. UA is not responsible for deterioration resulting from shipment including but not limited to: scuffed labels, cracked wax capsules, minor seepage, or temperature damage.

 

24) Recipients must check shipments immediately upon delivery and note breakage or shortage on the shipping company’s documents. UA must also be notified within 24 hours of delivery by the Buyer of any breakage or shortage. If UA is not notified within 24 hours of delivery, the claim will not be considered or honored.

 

Weather

 

25) UA does not recommend shipping spirits in temperatures below 20°F (-7°C) or above 80°F (27°C). Temperatures outside this range may damage spirits. Prior to arranging and processing shipment, UA will check the forecast temperature in Chicago, at the Buyer’s shipping address, and along the expected travel route. If temperatures fall outside UA’s recommended safe shipping range, or if other extreme weather conditions exist, the Buyer will be notified by email. If the Buyer wishes to proceed with shipment regardless of weather conditions, the Buyer must reply by email or fax accepting responsibility for any damage to their spirits caused by temperature or other weather-related conditions including but not limited to: delays, breakage, or loss.

 

Storage

 

26) UA offers 60 days of complimentary storage starting from the date of auction. Spirits remaining at UA longer than 60 days will be charged storage fees of $10.00 per per bottle, per yearly quarter. Spirits held at UA because of extreme weather conditions do not incur storage fees after 60 days, but complimentary storage is limited to a total of six months regardless of weather conditions or shipping limitations.

 

General

 

27) The rights and obligations of all parties shall be governed by the laws of the State of Illinois.

 

28) In the event of any inconsistency or conflict in terms between these Conditions of Sale and any other portion of the UAP, the terms of these Conditions of Sale shall control.

 

29) In the event of any inconsistency or conflict in terms between the UA Conditions of Sale on the Website, the Platform, or the App, the terms listed on the Website will be the deciding Conditions of Sale and shall control.