Lot # : 126 - GEORGE BURROUGHS TORREY PAINTING FINE GILT FRAME

Terms and Conditions: AUSTIN YORK LLC 1. General. Austin York LLC (Hereafter referred to as the "Auction House" "we" "us" or "our"). By bidding at auction, you agree to be bound by these Terms of Sale as amended and supplemented, whether you bid in the sale room in person, through a representative, by phone, by internet, or absentee bid. If you have any questions after having read the Terms of Sale, please contact the Managing Partner at (845) 534-1000. Each item of property (a "Lot" or "Lots") in this catalog is offered for sale subject to these Terms of Sale, as changed or supplemented by provisions a) written in other places within these Terms of Sale, b) in written supplements to this catalog or other materials prepared by us and c) as stated by the auctioneer or posted in writing at the auction, prior to a bid being accepted for a Lot. No other communications, in writing or orally, by any employee of the Auction House is intended to be binding, and such other communications are made for informational purposes only. 2. Catalog Descriptions and Consignor Warranties. ALL LOTS DESCRIBED IN THIS CATALOG ARE SOLD "AS IS" and "WHERE IS" EXCEPT AS EXPRESSLY STATED OTHERWISE. Our catalog descriptions for Lots are expressions of our opinion only. All measurements listed in the catalog are approximate. We recommend that you inspect the condition of a Lot prior to bidding at auction to ensure your satisfaction with condition. THE AUCTION HOUSE MAKES NO WARRANTIES, EXPRESS OR IMPLIED, AS TO THE MERCHANTABILITY OR FITNESS FOR PURPOSE EXCEPT AS OTHERWISE EXPRESSLY STATED IN THESE TERMS OF SALE. Catalog illustrations may not be to scale or reflect the depicted Lot's actual size. For each Lot, the consignor has represented and warranted to us that the consignor is the owner of such Lot or is acting as authorized agent of the owner of the Lot and has the right to transfer title to the Lot free of all liens, claims, and encumbrances. Neither the consignor nor we make any warranty or representation, express or implied, as to whether you will acquire any reproduction rights, copyrights, or other intellectual property rights in, or with respect to any Lot. The Auction House retains all rights to photographs and other intellectual property contained in this catalog. 3. Withdrawal. The Auction House reserves the right to withdraw a Lot from auction for any reason and with no liability whatsoever for such withdrawal. 4. Condition Reports and Pre-Auction Viewings. Condition reports are rendered as opinions by the specialist staff of the Auction House and/or independent consultants and not as statements of fact. We do not guarantee the content of written or verbal condition reports. Condition reports can be accessed online and, in the catalog, where applicable. If you would like additional information or condition reports, please call: (845) 534-1000, or e-mail to: info@austinyorkllc.com. Our specialists will respond to requests as quickly as possible. If you need a condition report, please request and review them prior to reserving phone lines for telephone bidding. The Auction House is not liable or responsible for any errors or failure to provide a condition report prior to sale. 5. Estimates. The estimates provided in this catalog are neither a representation nor a prediction of the hammer price that will be realized at auction, price realized at a post-auction sale, or price realized upon resale, which may be substantially different from our estimates in this catalog. We shall not, under any circumstance, be liable for any discrepancies between our estimates and a price realized. 6. Qualifying to Bid. As a security measure for our consignors and us, all bidders must establish credit. You will be asked to furnish identification and a valid credit card number and may be asked to provide credit references and/or (for absentee, phone, and online bidders) an initial deposit in the form of a pre-authorization hold equal to 10% of the low estimate of the total number of Lots on which you are bidding. First time and international bidders on Lots with a total low estimate of $5,000 or greater may be asked to: a) furnish an initial deposit in the form of a pre-authorization hold equal to 15% of the low estimate of the two highest priced lots; and b) grant the Auction House the right to charge your credit card 30% of the selling price on the date of the auction, in the auction's sole discretion. If you are bidding as agent, we reserve the right to request a letter of authorization from your principal. If you are successful and do not remit payment as specified, the amount owed will be charged to your credit card together with such charges set forth in these Terms of Sale. If you have any questions, contact Managing Partner at (845) 534-1000. Bidding Numbers: All bidders must register and receive a bidding number from the Auction House prior to bidding at auction. 7. Absentee Bids. Absentee bids submitted by email, mail or online must be received by us no later than two hours prior to the start of an auction's published start time. We may, at our discretion, accept absentee bids by phone from qualified bidders even during the auction up to 30 minutes before a Lot goes on the block. Absentee bidders are emailed their bid confirmations or shall receive a copy of their bid sheets at the time bids are left with us. If you do not receive a bid confirmation by 5 pm on the day prior to the auction, please call us. When you do receive a bid confirmation, please double check it for accuracy. All absentee bidding is handled as though you are in attendance. We bid on all designated Lots for you one bidding increment above where the competition stops up to your bid amount. Please check and comply with increments. In case of failure to comply, we will reduce each off-Increment bid to the increment below it. Generally, the auctioneer will follow the bidding increments listed below; however, the auctioneer may change bidding increments during the auction for a particular Lot at the auctioneer's sole discretion. "Plus" bids: Several people may leave identical bid amounts. Therefore, on your bid sheet you have the opportunity in addition to listing your bid amount, to also list a "Plus" bid. An earlier bid received by the Auction House wins in the event of a tie, but if a later bid has an added "Plus" bid to a higher increment and the earlier bid does not have a "Plus" bid that matches or exceeds the "Plus" bid, the later bid would win the Lot. All absentee bidder names and bids are held in strictest confidence, disclosed solely at the discretion of the Auction House and only in the event of a question after the sale. Absentee bidding is a convenience offered to our customers and, while we will make every effort to execute your instructions, the Auction House is not liable or responsible for any errors or failure to bid. If you place absentee bids with the Auction House and then choose to attend the auction in person, bid by phone or by any other means, it is solely your responsibility to cancel any or all absentee bids prior to the start of the auction. If you do not or cannot, regardless of reason, you will be held responsible for the purchase of any Lot for which you have placed a successful bid whether such bids are Absentee bids or Live bids. 8. Telephone Bids and Contingency Bids. We will provide you a line and a phone agent for bidding provided we receive your request by, mail, phone, or online by 4:00 p.m. on the day prior to the auction. After that time, we will gladly accept your absentee bids as outlined in Paragraph 7 above. Changes to bid lists left with us prior to the deadline will be accommodated on a best efforts basis, as will follow-up phone bids for those who attend, but must leave the auction and other exceptional cases. If you do not receive a bid confirmation by 5:00 pm on the day prior to the auction, please call us. When you do receive a bid confirmation, please double check it for accuracy. We can call you at two phone numbers ONLY during the auction. If you are unsure of where you or your agent will be during the sale, we recommend you fill out a contingency bid on the bidding form that you submit to us. Contingency bids are only available to you if you have made a telephone bid and have notified us, no later than 30 minutes prior to the auction's published start time, that due to unforeseen events, you may not be on the telephone at the time of the sale and therefore wish to leave a bid directly with the phone agent to make on your behalf. Please do not change your phone number after your phone lines have been confirmed; if you do, the Auction House will not be responsible for any breakdown in communications. We do not have the capacity to assign phone agents to clients who want to listen only or who will not bid the minimum selling price. Therefore, if you request to reserve a phone agent for bidding, you must be willing to open bidding and bid to the low estimate should the bidding go that far. Bids are placed on the telephone at the discretion of the Auction House and at the caller's risk. Telephone bidding is a convenience offered to our customers and, while we will make every effort to execute your instructions, the Auction House is not liable or responsible for any errors or failure to bid. All calls will be recorded for record-keeping, quality assurance, and training purposes. 9. Internet Bids. The Auction House has engaged the services of third-party online bidding platforms, the majority of which levy a fee for their services. Please proceed to these sites for all necessary information on fees and how to bid and buy online using these platforms. UNDER NO CIRCUMSTANCES, INCLUDING, BUT NOT LIMITED TO, NEGLIGENCE, SHALL THE AUCTION HOUSE AND ITS CONSIGNORS BE LIABLE FOR LOST PROFITS, SPECIAL, INCIDENTAL, OR CONSEQUENTIAL DAMAGES WHATSOEVER, THAT RESULT FROM THE USE OF, OR THE INABILITY TO USE, THESE SITES. If you place absentee bids with the Auction House and/or a third-party site and also bid in person, by phone or any other means, it is solely your responsibility to cancel these absentee bids prior to the start of the auction. If you do not or cannot, regardless of reason, you will be held responsible for the purchase of any Lot for which you have placed a successful absentee bid. Absentee bids left with third party online bidding platforms are released to the Auction House when a Lot comes up for sale. Such absentee bids are considered received by us at the time they are released to us by the online bidding platforms. 10. Reserves. A reserve is the confidential minimum price established by the Auction House and the consignor. The Auction House prohibits consignors from bidding on their own Lots, but the Auction House may implement the reserve by bidding on behalf of the consignor at the auction up to the reserve. 11. Bids Increments. Generally, bidding increments are made as follows; however, the auctioneer has the sole and exclusive power, discretion, and authority to regulate the bidding and change the bidding increments. FROM TO INCREMENTS 20 - 149 - 10 150 - 499 - 25 500 - 999 - 50 1,000 - 2,499 - 100 2,500 - 4,999 - 250 5,000 - 9,999 - 500 10,000 - 24,999 - 1,000 25,000 - 49,999 - 5,000 50,000 - 99,999 - 10,000 100,000 - 249,999 - 25,000 250,000 - 499,999 - 50,000 500,000 - 999,999 - 100,000 1,000,000 - 9,999,999 - 500,000 12. Auctioneer's Determination Final. A Lot will be sold to the highest bidder as determined in the sole and exclusive judgment of the auctioneer. The auctioneer will also have the sole and exclusive power and authority to: a) resolve any disputes between bidders; b) determine whether to pass or re-offer a Lot for sale; c) reject or challenge any bid or advance in the bidding; d) exclude any bidder from the auction and/or auction premises; and e) otherwise regulate the bidders, the bidding, and the bidding increments. 13. Successful Auction Bids. Upon the fall of the auctioneer's hammer, an agreement for the sale of the Lot is created between the successful bidder and the consignor. 14. Auction Results. Preliminary auction results will be available online shortly after each auction. Final auction results will be available as soon as the Auction House has audited and verified all sales/bids, usually within one day of an auction. 15. Invoicing, Buyer's Premium and Sales Tax Invoicing. All successful bidders will be sent invoices by e-mail within three business days following an auction. Buyer's Premium: We charge an in-house Buyer's Premium on each Lot sold in amount equal to 21.5% of the hammer price. Please be aware that should you bid through a bidding platform, e.g., LiveAuctioneers, Invaluable, HiBid, etc. there may be a surcharge which will be included in the Buyer's premium and which will be in addition to the in-house Buyer's Premium. Please consult the platform bidding page for details. Fees: Successful Bidders who bid through third party online bidding platforms pay the Buyer's Premium and a surcharge that offsets the fee levied by the third-party online bidding platform on the Auction House. For more details on this surcharge, see the Terms of Sale posted with each of our auctions on your online bidding platform of choice or call us at 845-534-1000. Sales tax: On June 21, 2018, the U.S. Supreme Court decided South Dakota v. Wayfair, Inc., enabling states to impose sales tax responsibilities on remote sellers, i.e., sellers without a physical presence in the state. Since the ruling, several states have responded by implementing legislation requiring remote sellers to collect sales tax when the total dollar value of purchases sent to that state exceeds a set threshold. Each state sets its own threshold. Exceeding that threshold is known as creating an economic nexus. Like all other remote sellers, Austin York, LLC is now required to collect Sales / Use Tax from buyers in these states when the total dollar value of purchases sent to that state creates a nexus. When this occurs, you will see sales tax included on your invoice. The sales tax rate is determined by the State, County, and City where purchases are sent. All purchases picked up at Austin York, LLC, which is located in New York, will be taxed at the NY state and local tax rate, currently 8.125%. If you have a valid resale certificate on file with the Auction house, this will exempt you from being charged the Sales/ Use tax. Please send your completed, valid Resale Certificates to: info@austinyorkllc.com. NOTE: If we have not achieved nexus with your particular state, it is still the purchaser's responsibility to pay the proper use/sales tax on your purchases in your home jurisdiction. If you have questions, please consult your tax advisor, or contact us for questions regarding our policies. 16. Payment of the Purchase Price and Transfer of Title. The hammer price, the Buyer's Premium, any applicable surcharges or fees and taxes shall be added together to comprise the total purchase price for each Lot (the "Purchase Price"). Payment of the Purchase Price is due, in full, immediately upon your receipt of our invoice. If payment is not received, in full, within fifteen (15) days, the Auction House reserves the right to impose interest at a rate of 1.5% per month prorated from the date of auction. Upon our receipt of payment in full in good and clear funds from you, title to a Lot transfers to you. If you make payment by check, title shall not transfer to you until the check has cleared. 17. Methods of Payment and Credit Card Processing Fee. In-House Methods of Payment: Cash. Check. Wire Transfers. Money Order, Visa, Mastercard, or Discover. NOTE: A 3.5% surcharge will be added for payments made by Visa, Mastercard, and Discover. Online bidding platforms may also offer other methods of payment. Merchandise paid for by Check/ACH may be held, in our sole discretion, for 3-7 business days in order to allow payments to clear, prior to merchandise being released. Dishonored checks will be liable, and charged, for the maximum returned check fee allowed by law. AUSTIN YORK WILL NOT ACCEPT CREDIT CARD PAYMENTS FOR JEWELRY, CURRENCY/COINS, MOTOR VEHICLES, AND/OR PRECIOUS METALS FOR SHIPMENT WITHOUT IN PERSON IDENTIFICATION AND IDENTITY VERIFICATION. Payments made by check must be mailed to: Austin York LLC, 367 Windsor Highway, #190, New Windsor, NY 12553. Payments over $2500, are required to be made by Wire Transfer, Cash, Certified or Bank Check. Waiver of this requirement shall be at the sole discretion of Austin York LLC. 18. Authenticity Guarantee. In certain instances, the consignor is providing an authenticity guarantee for certain Lots, to the extent indicated in the catalog (as explained below), for a period of one (1) year from the date of auction (the "Authenticity Guarantee"). We are not personally liable for the Authenticity Guarantee. For purposes of the Authenticity Guarantee, authenticity is defined as a true work by the artist in question, and that is not a copy or fake by another hand. Your sole remedy under the Authenticity Guarantee, to the exclusion of any other remedy available to you under the law, shall be the return of any portion of the Purchase Price paid by you to us. Refunds provided under the Authenticity Guarantee shall not include packing, shipping or insurance expenses incurred by you. For the avoidance of doubt, the Authenticity Guarantee is available only to you and may not be transferred to your heirs, agents, transferees, assigns or subsequent buyers. To make a claim under the Authenticity Guarantee, you must 1- Submit, at your expense, an opinion in writing from a recognized expert, pre-approved by the Auction House, regarding the authenticity of the Lot at issue, 2- Notify us, in writing, within 30 days of the sale that you intend to seek a third-party opinion. Failure to notify us within this time period shall render this Authenticity Guarantee null and void, and 3- Represent and warrant that you will not, and have not, marketed, attempted to sell, or sold, the work, or any fractional interest thereof, at any point in time until such time as the expert's opinion is delivered to us. Any such attempt to sell or market the Lot/s shall render this Authenticity Guarantee null and void. 4. If the Lot is judged inauthentic by the expert, prior to receiving a refund of any amount of the Purchase Price paid by you to us, the Lot must be returned to us in the same condition as at time of auction. If you have satisfied ALL of the requirements of this Section 18 and we have not yet paid the consignor, we will refund your payment of the Purchase Price or any portion thereof to you. If you have satisfied the requirements of this Section 18 and we have paid the consignor, we will: (i) refund to you the Buyer's Premium (as defined below) and any taxes paid; and (ii) make written demand upon the consignor for the payment of the balance of the Purchase Price you paid. If the consignor fails to refund the balance of the Purchase Price, the Auction House will furnish you with the name and address of the consignor and assign all of the Auction House's rights against the consignor to you. You hereby agree that upon this assignment of the Auction House's rights, the Auction House will have no further liability to you or responsibility to pursue your claim against the consignor. The Authenticity Guarantee excludes the following: Any lot description that states there is a conflict of specialist opinion; Any typographical errors in our Lot descriptions or catalog; Wear on furniture; Flakes, surface scratches, or manufacturing flaws in glass or ceramic Lots; The description of clocks and lighting devices, whether in the catalog or a condition report, as such descriptions may be incomplete and not identify every mechanical replacement, repair, or defect. The absence of reference to the condition of a clock or lighting device does not imply it to be in working condition or without defects, repairs, restorations, or replacement parts. No warranty is made that any watch is in working condition or without defects, restorations, or working parts. Buyers are advised to check watch works prior to auction; The description of jewelry, whether in the catalog or a condition report, is rendered as opinion and not a representation of fact, including, but not limited to, specialist opinion as to authenticity, the enhancement or treatment of gemstones, the weight of gemstones, the country of origin, the authorship or origin (manufacture) of an item, its period (or c.) or the authenticity of its marks. 19. Transfer of Risk of Loss. Risk of loss shall transfer to you upon your pick-up of a Lot or the 10th day after the auction, whichever is earlier. We are not responsible for any damage or loss that occurs to the Lot past 20. Pick-Up, Shipping and Storage Fees. All Lots must be removed from the premises of the Auction House no later than ten (10) business days after an auction. If Lots are not removed within thirty (30) days after an auction, you will thereafter be assessed a $10.00 PER LOT PER DAY storage charge and any time after thirty (30) days after an auction we may, in our sole discretion, remove any Lot to public storage at your risk and expense. All associated charges with such public storage will be charged to you and must be paid prior to our release of a Lot to you. Uncollected Lots left at the Auction House for ninety (90) days following an auction will be sold and storage charges recovered or donated at the Auction House's sole discretion. If you choose to pick up a Lot from the Auction House following an auction you must call or email in advance to set an appointment. Regular hours for pick up are Monday- Thursday, from 9:30 am to 4:30 pm. Please bring your own packing materials. The Auction House is closed on Federal holidays. LOTS WILL BE SHIPPED ONLY TO THE ADDRESS ON FILE WITH THE ONLINE BIDDING PLATFORMS AS REFLECTED ON AUCTION HOUSE INVOICES. Once you have made your arrangements with a shipper you must send an email to info@austinyorkllc.com authorizing them to pick up your lot(s) with the number(s). We offer in-house domestic shipping for the following lots ONLY. You must request this service. We do not automatically ship any lots: PAPER LOTS ONLY, via mailing tubes. We do not remove any paper lots from their framing, due to the uncertainty of the condition or how it may be affixed to the matting or backing. We do not take the risk of the piece possibly getting damaged or having to be reframed to protect it in shipping. You can always ask the shippers if they would do this for you. The cost will be as follows: - $21.50 per 24" tube for one lot (not including insurance) - $24.50 per 30" tube for one lot (not including insurance) - $2.50 per additional lot (not including insurance). LOTS THAT FIT IN PREPAID USPS FLAT RATE BOXES. The cost will be as follows: Small - $20.20 plus insurance over $100 value Medium Box - $32.10 plus insurance over $100 value Large - $42.80 plus insurance over $100 value If you choose to ship a Lot from the Auction House via a third-party shipper, you are solely responsible for the shipment. We will work with any shipper of your choosing. If you have any shipping preference for any reason, please make sure your shipper carries insurance. We are not responsible for any damage or loss that occurs while your objects are in another's care. We will also not be responsible for any damage or loss that occurs if you choose a shipping method that we have advised against, and we will require a waiver from you acknowledging this. As a convenience to you, we will, if requested, release a Lot to a third-party shipper. The shipping company will pack and ship or arrange shipment for you via UPS, FedEx, or other carrier, fully insured, for a fee payable in advance by credit card. Shipments are made within a few days after payment has been received. For the avoidance of doubt, we will not be responsible for any damage or loss that occurs to a Lot once we release it to a third-party shipper. Third party shipping - try one of these options or use your own: > Newburgh Shipping Company, 845-561-7808, auctionshippers@gmail.com > The UPS Store, Colleen Babcock, 845-565-2300, Store1747@theupsstore.com > The Country Postman, 845-677-1076, www.countrypostman.com, info@countrypostman.com For courier type service try: > Same Day NJ, Kevin Swayze, 877-705-2555 or 973-869-9188, kevin@samedaynj.com > The Country Postman, 845-677-1076, www.countrypostman.com, info@countrypostman.com > Artisan Shipping Company, 917-613-0338, > Outward Bound Courier Logistics, 413-854-3676; ourwardboundcl@yahoo.com, > UShip.com (local and domestic) > Bajram Dauti, 4D Fine Art Services Inc., 516-488-2716, info@4dfinearts.com > ES Express 843-353-7770 Eddieiq123@gmail.com (I-95 corridor) > Nelson Quintero 914-588-0265 nelsonqmover@gmail.com > Sure Express Worldwide 800-335-9996; > Scott Zheng, USSN, Inc, 631-612-1599, info@ussninc.com (domestic and international crating and shipping - (including China, Japan, Korea). Once you have made arrangements with a shipper you must send an email to info@austinyorkllc.com authorizing them to pick up your lot(s) with the number(s). All international customs, duties, and other tariffs are your responsibility. The Auction House and all third-party shippers will declare the hammer price plus the Buyer's Premium as the value of a Lot in all cases. Oversized Lots are objects such as furniture, andirons, floor vases, stone sculptures, oversized wall sculptures or any other item whose safe packing will exceed the limits of common carriers. The Auction House will assist with any freight company you choose, for delivery by freight almost anywhere in the United States, fully insured, for a fee. The delivery of oversized, large, heavy, or expensive objects can be an expensive endeavor, and we urge you to consider this before bidding and attain a quote from a freight company. 21. Export and Import. The Auction House and the consignor make no representations or warranties as to whether any Lot is or is not subject to export or import restrictions or any embargoes and will have no responsibility regarding these matters. 22. Endangered Species. Purchaser is responsible for checking any applicable laws and regulations regarding the importation of Lots containing materials made from endangered species. An export or import license may be required for the export or import of such Lots and it is your sole responsibility to familiarize yourself with International, U.S. Federal and State laws or requirements regarding the necessary export, import, endangered species or other permit required prior to bidding at auction. We will not rescind the sale of a Lot that is transferred to you and later seized by government authorities due to the presence of endangered species material. 23. Jewelry. Natural gemstones have been enhanced in a variety of ways throughout history, by heating, oiling and other methods. These treatments are accepted by the international jewelry and gemstone trade. The Auction House makes no representations or warranties, express or implied, as to whether natural stones have been treated or enhanced, whether specifically referenced or not. All stones have been identified by standard gemological field tests as the mounting permits and the Auction House will make available to prospective buyers any gemological certificates in its possession. It will not always be feasible to obtain a qualified lab report on every stone offered through the Auction House. If you wish to have a grading or gemological report from an independent recognized laboratory such as the Gemological Institute of America, the European Gemological Laboratories or the American Gemological Institute, you may request one at your own expense or hire an independent adviser of your choosing. Weights given are based solely on measurements and known gemological formulae; they are approximate, not exact. Weight may differ once a stone is removed from its setting. You are advised to verify weight estimates prior to bidding at auction. 24. Coins and Currency. Grading coins and currency is a matter of opinion as to condition and other attributes. As a result, grading can differ among third party grading services (even though consensus grading is employed by most), independent experts, dealers, collectors and auction houses, including our own. Due to the subjectivity of coin and currency grading, a given piece evaluated twice by the same expert may be assigned a different grade each time. Opinion as to the grading, condition or other attributes of any Lots may have a material effect on value. Therefore, all coins and currency are sold "as is" by the Auction House, except as to authenticity, as expressly stated in the Terms of Sale. They are sold without any additional express or implied warranty, including, but not limited to, grade. This includes all coins and currency, including, but not limited to, those: Referencing the opinion of a third-party grading service; With no reference to the opinion of a third-party grading service; With reference to the opinion of Auction House as to grading; Subsequently submitted to a third-party grading service for determination or certification; Encapsulated and therefore unable to be physically examined. The Auction House reserves the right to differ with the grades assigned to any Lot, by certificate or otherwise, regardless of the grading service, and will not be bound by any prior or subsequent opinion, determination or certification by third-party grading services including, but not limited to, National Guaranty Company (NGC), Professional Coin Grading Service (PCGS), Paper Money Guaranty (PMG) and Currency Grading and Authentication (CGA) or any other any grading service, third party organization or dealer. There is no guarantee or warranty implied or expressed that the grading standards utilized by the Auction House will meet the standards of any grading service at any time in the future. The Auction House has graded uncertified coins and currency with reference to the current interpretation of the American Numismatic Association's standards at the time of grading. The Auction House reserves the right to re-grade any Lot re-consigned for any reasons, including, but not limited to a change of grading standards, differences in opinion, mishandling over time. The Auction House will not be liable for any patent or latent defect or controversy pertaining to or arising from any encapsulated coins or currency. In any such instance, purchaser's remedy, if any, shall be solely against the service certifying and purchaser hereby agrees that it shall have no remedy against the Auction House. Please note that certain types of plastic may react with a coin's metal or transfer plasticizer to notes, causing damage. Avoid storage in materials that are not inert. 25. Failure to Make Payment. If you fail to make payment, we shall charge you interest at the rate of 16% per annum from the date of the auction, or the maximum amount allowed under NYS law, whichever is greater. In addition to other remedies available to the Auction House by law, the Auction House may, at its option: i. Cancel the sale of any Lot for which payment by you has not been made or for any Lot for which you have made payment and retain all payments made by you for such Lots as liquidated damages; ii. Resell any Lot for which payment by you has not been made, whether at public auction or private sale; or iii. Pursue any combination of i) and ii) above. 26. Rescission by the Auction House. In the event the Auction House receives notice of an adverse claim with respect to a sold Lot, the Auction House shall have the right (but not the obligation), in its sole and absolute discretion, to rescind the sale to you, upon written notice to you. Upon such notice, you will promptly return the purchased Lot to the Auction House's premises in the same condition as when you purchased it. Following our receipt of the Lot, we will then promptly refund you the full Purchase Price, including the Buyer's Premium and applicable taxes paid. You will have no further recourse against the Auction House or the consignor, and the Auction House and the consignor shall not be liable for any damages of any nature suffered by you. 27. Governing Law and Forum for Disputes. The laws of New York shall govern the Terms of Sale and all our auctions. Any disputes that may arise in connection with any auction or sale shall be governed by and construed in accordance with New York law. You agree to submit to the jurisdiction of the courts of the State of New York with respect to any dispute arising in connection with any auction and/or any sales. You agree that the Federal and State courts sitting in New York shall have exclusive jurisdiction over any claims asserted by you against the Auction House in connection with any auction and/or any sales. You further agree that the Auction House may, in its sole discretion, assert any claims it has against you in connection with any auction and/or any sales in any Federal or State courts sitting in New York or in any other jurisdiction where you or assets owned by you may be found. In the event that the Auction House brings an action to enforce the Terms of Sale and/or to collect any sum due and owing to it, the Auction House shall be entitled to collect (in addition to any other amounts it is owed) its reasonable attorney's fees, collection agency fees, and cost of suit from you. 28. Limitations of Liability. The Auction House is not liable for any breach or default by the consignor of a Lot. 29. Severability and Waiver. If any provision of these Terms of Sale shall be deemed unlawful, void, or unenforceable under applicable law, that provision shall be stricken and severed from the remaining provisions. All remaining provisions shall remain in full force and effect. Failure to enforce any of the provisions in these Terms of Sale shall not be deemed a waiver of the right to enforce any other provisions of these Terms of Sale. 30. No Assignment. Unless the Auction House consents in writing, you may not assign your rights or any of your obligations hereunder. 31. No Modifications. These Terms of Sale may not be changed unless the Auction House and you have agreed to do so in a written agreement signed by both parties. 32. Public and Private Sales. These Terms of Sale shall apply to both auction and private sales. Paragraph and subheadings are included in these Terms of Sale for ease of reference and should not be used to interpret the meaning of the substantive provisions.