Lot # : 19 - Rolex Datejust 16030 Tiffany Dial $50k

MOST ELITE COLLECTIONS LLC — OFFICIAL TERMS & CONDITIONS OF SALE Last Updated: September 27, 2025 Contact & Platforms Most Elite Collections LLC P.O. Box 441, Little Egg Harbor, NJ 08087 Email: mostelitecollections@gmail.com | Phone: (640) 208-5413 Platforms: HiBid, LiveAuctioneers, BidSpirit, Company website & affiliated marketplaces NEW: ALL Timepiece or Gold Invoices have a MAXIMUM of 24 hour pay period or will be subject to penalties, and/or 25% Re-Stocking & Re-Listing Fee. 1) Scope, Acceptance & Binding Agreement These Terms & Conditions (the “Terms” or the “Agreement”) govern all auctions, private or timed sales, consignments, and related services provided by Most Elite Collections LLC (“Company,” “we,” “us,” “our”). By registering, bidding, purchasing, consigning, or otherwise participating on our site(s) or third-party platforms, you agree to be legally bound by these Terms and all posted policies (Shipping & Handling, Returns, Consignment, category notices). We may amend the Terms at any time by posting revised terms; continued participation after posting constitutes acceptance. Governing Law: Sales are governed by the New Jersey enactment of the Uniform Commercial Code (UCC) and applicable consumer-protection law, except where federal law preempts [N.J.S.A. 12A:1-101 et seq.; N.J.S.A. 56:8-1 et seq.]. Certain municipalities require local auction or precious-metals/secondhand dealer licenses; we comply where applicable [e.g., Little Egg Harbor Twp. Code Ch. 318]. Platform/lot notices and any auctioneer announcement at the time of sale supersede prior written terms for that lot. 2) Key Definitions Auction: Any live, timed, or online sale event. Lot: Any item or grouped items offered for sale. Hammer Price: Final accepted bid at close (before buyer’s premium, tax, and fees). Buyer’s Premium: Percentage added to Hammer Price (currently 22%). Invoice: Statement of all amounts due (Hammer + premium + taxes + S&H + other fees). Gross Misrepresentation: A proven, material factual error in description, or a proven counterfeit. Consignor: Person/entity consigning property. Affiliate: Entity related to or engaged by the Company. Actual Lot Photograph: Catalog images are of the actual lot unless expressly labeled otherwise. 2A) Additional Definitions — Reserve Mechanics Reserve — A minimum hammer price authorized in writing by the Consignor prior to cataloging. If the Reserve is not met during the Auction, the lot does not sell unless the Consignor affirmatively accepts the high bid post Auction (“subject to seller confirmation”) [N.J.S.A. 12A:2 328(3)]. Silent Reserve (Undisclosed Reserve) — A Reserve disclosed to the Company by the Consignor but not published to bidders; the Company’s records reflect the Reserve and platform tools may display “Reserve Not Met” or similar status. Unless a lot is expressly announced as “Absolute/No Reserve,” bidders are on notice that a lot may be offered with a Reserve [N.J.S.A. 12A:2 328(3)]. Absolute / No Reserve Auction — A sale where, once bidding begins, the lot must be sold to the highest bona fide bidder and the lot may not be withdrawn for price related reasons; “Absolute/No Reserve” status must be expressly stated and honored [N.J.S.A. 12A:2 328(3)]. Subject to Seller Confirmation — A post Auction status where the high bid is below the Reserve; the Consignor may accept or reject the high bid within the stated confirmation window (time period) [N.J.S.A. 12A:2 328(3)]. Seller/Consignor’s Right to Bid — The seller (or an agent) may not bid unless that right is expressly reserved/announced; where permitted and announced, any seller bidding is solely to protect the Reserve and not to inflate price [N.J.S.A. 12A:2 328(4)]. House Bid / Bid on Behalf — A bid placed by the auctioneer on behalf of (i) absentee bidders up to their maximum or (ii) the seller solely to protect a lawful, announced Reserve; never used to exceed the Reserve or to create artificial price momentum [N.J.S.A. 12A:2 328(4)]. 3) Registration, Verification & Due Diligence We may require government ID, recent address verification, references, proof of funds, deposits, and enhanced verification for higher-risk categories (e.g., precious metals/diamonds) to satisfy anti-fraud, AML, and sanctions obligations [31 C.F.R. Part 1027; 31 C.F.R. ch. V (OFAC)]. We may approve/deny/revoke bidding at our sole discretion and without liability. You are responsible for all activity on your account. 4) Bidding, Auction Conduct & Contract Formation UCC Article 2 governs sales of goods. A sale by auction is complete upon the auctioneer’s declaration of sale (the “fall of the hammer” or customary online close) [N.J.S.A. 12A:2-328(2)]. Bid retraction: Prior to completion, a bidder may retract under UCC default rules; retraction does not revive earlier bids; platform-specific rules may further limit retractions. After declaration of sale, no retractions [N.J.S.A. 12A:2-328(3)]. We may resolve bidding errors/disputes, reopen lots, set increments, set/order lots, set reserves, or withdraw lots at any time. Shill bidding, self-bidding, and collusion are prohibited (enforced under general fraud and consumer-protection law) [N.J.S.A. 56:8-1 et seq.]. 5) Buyer’s Premium, Taxes & Fees Buyer’s Premium: 22% of Hammer Price (subject to change by posted notice). Sales/Use Tax: We collect New Jersey sales tax where applicable; certain investment metal bullion and investment coins may be exempt if statutory criteria are met (effective Jan. 1, 2025) [N.J.S.A. 54:32B-8.32; N.J. Div. of Taxation, Pub. ANJ-3]. Marketplace-facilitator rules may apply on third-party platforms. Credit-Card Surcharge (NJ compliance): If we assess a surcharge, it (i) applies only to credit cards (no debit/prepaid), (ii) will not exceed our actual processing cost and any applicable network cap, (iii) is disclosed before payment, and (iv) appears as a separate line on the invoice [N.J.S.A. 56:8-156.2]. 6) Payment Terms, Methods & Default Payment is due within three (3) business days of invoice unless otherwise stated. Credit Cards on file with The Auction House Platform account (HiBid) will be charged automatically for the invoice balance due on the third business day. (Only if the invoice is still unpaid by the 3rd business day). Accepted: wire, ACH, cashier’s check, money order, Zelle; credit/debit cards up to $1,500 per invoice (we may cap or decline). Cryptocurrency may be accepted at our discretion. Unpaid invoices: You agree to a non-negotiable 25% restocking/relisting fee on the invoice total if you fail to pay in full on time. Interest (up to the legal maximum), storage fees, and all collection costs/attorneys’ fees apply. We may revoke bidding, report non-payment to platforms, and pursue all lawful remedies [N.J.S.A. 12A:2-703 et seq.]. Security interest & set-off: We retain a security interest under UCC Article 9 until paid; we may repossess, relist, liquidate, retain property, and set-off any funds/property we hold against amounts due [N.J.S.A. 12A:9-201; 12A:9-601; 12A:9-609]. 7) Title, Transfer & Risk of Loss Title passes to Buyer only after full payment and identification of goods to the contract, or as otherwise provided by law [N.J.S.A. 12A:2-401]. Risk of loss: Unless otherwise agreed, risk passes to Buyer when goods are tendered to the carrier (shipment contracts). If we expressly agree to destination terms, risk passes at tender at destination [N.J.S.A. 12A:2-509]. 8) Shipping, Insurance & Handling (Shipping-Only Auctions) No local pickup. All sales are Shipping-Only via approved third-party shippers. Standard S&H Fee: A flat $25 handling fee per shipment (per invoice) applies to all orders. Insurance & special services: Carrier insurance for the full invoice value is required and paid by Buyer; special delivery services are at Buyer’s expense. Invoicing: S&H/insurance may appear on the main invoice or, if not yet known, will be billed on a separate Shipping & Insurance Invoice before release. Title/risk and claims follow Section 7 [N.J.S.A. 12A:2-509]. Signature required; no redirects; no P.O. Boxes. Inspect shipments upon delivery and report discrepancies within 24 hours or claims may be waived. 9) “As-Is” Condition; Returns All lots are sold “AS IS, WHERE IS, WITH ALL FAULTS.” We disclaim all warranties, express or implied (including merchantability/fitness), to the fullest extent permitted by law [N.J.S.A. 12A:2-316]. All sales are final; no returns, refunds, or exchanges except for Gross Misrepresentation or where non-waivable law requires a remedy (including under the NJ Consumer Fraud Act) [N.J.S.A. 56:8-1 et seq.]. Request RMA in writing and follow instructions for any approved return. 10) Fraud Prevention, Payment Disputes & Reputation We use enhanced fraud screening and may require additional documentation, decline/cancel transactions, or ban accounts to protect against fraud, identity theft, money laundering, or collusion [31 C.F.R. Part 1027; 31 C.F.R. ch. V (OFAC)]. Chargebacks: You agree to resolve issues through our process and arbitration. Initiating an improper chargeback may result in a $500 administrative fee plus actual costs, to the extent permitted by law and card-network rules [N.J.S.A. 56:8-156.2]. Do not publish demonstrably false statements about the Company or staff. We may seek removal and legal remedies for provably false statements [N.J.S.A. 56:8-1 et seq.]. 11) Dispute Resolution — Arbitration; Venue; Fees Any dispute, claim, or controversy arising out of or related to bidding, purchases, consignments, descriptions, charges/fees, or these Terms shall be resolved by confidential, binding arbitration administered by the American Arbitration Association (AAA) before one arbitrator in Ocean County, New Jersey [9 U.S.C. §§ 1–16; N.J.S.A. 2A:23B-1 et seq.]. Parties retain any non-waivable statutory rights (e.g., to confirm/vacate/modify an award or seek necessary injunctive relief in court) [9 U.S.C. §§ 9–11; N.J.S.A. 2A:23B-22 to -24]. Each side initially shares AAA fees; the prevailing party may recover reasonable attorneys’ fees/costs where authorized. Any claim must commence within one (1) year of the event unless a longer period is non-waivable by law. No class/representative actions. For award enforcement, parties consent to state or federal courts in Ocean County, NJ [9 U.S.C. § 9]. 12) Limitation of Liability To the fullest extent permitted by law: (i) we are not liable for indirect, incidental, special, consequential, or punitive damages; and (ii) our total liability is strictly limited to the amount you paid for the relevant lot [N.J.S.A. 12A:2-719]. We are not liable for third-party platforms, shippers, insurers, or payment processors, or for Force Majeure events. 13) Indemnification You agree to indemnify and hold harmless the Company and its officers, affiliates, employees, and agents from losses, liabilities, claims, penalties, and expenses (including reasonable attorneys’ fees) arising out of your breach, violation of law, or acts/omissions (including fraud/misrepresentation), and for any injury or property damage from removal or shipment of purchased items [N.J.S.A. 12A:2-715(2); common-law indemnity]. 14) Compliance & Specialty Items (Selected Requirements) Furs/animal products: Items incorporating animal materials (fur, ivory, exotic hides, coral, shell, taxidermy) may be restricted or prohibited by CITES and the Endangered Species Act, as well as state law (including NJ ivory/rhino restrictions); we will not ship in violation of law [50 C.F.R. Part 23; 50 C.F.R. Part 14 Subpart F (USFWS Form 3-177); N.J.S.A. 23:2A-13.1 to -13.5; 15 U.S.C. § 69 et seq.; 16 C.F.R. Part 301]. Coins & bullion: We comply with the Hobby Protection Act (imitation numismatic items must be permanently marked “COPY”); certain investment bullion/coins may be sales-tax exempt in NJ if statutory criteria are met [15 U.S.C. §§ 2101–2106; 16 C.F.R. Part 304; N.J.S.A. 54:32B-8.32]. Collectible coins worth $1000 or more are typically exempt from sales tax unless it has been turned into something other thana coin ( like jewelry). Diamonds & jewelry sanctions: We comply with U.S. sanctions, including recent OFAC determinations restricting Russian-origin non-industrial diamonds and certain diamond jewelry; Buyers are responsible for import/export compliance and providing origin documentation when requested [31 C.F.R. ch. V; OFAC Determinations & FAQs under E.O. 14068/14114]. Fine art & cultural property: Buyers must comply with NAGPRA, ARPA, and the U.S. cultural property import regime implementing the 1970 UNESCO Convention; we do not ship in violation of these laws [25 U.S.C. § 3001 et seq.; 16 U.S.C. § 470aa et seq.; 19 U.S.C. § 2601 et seq.]. FTC Jewelry Guides: We follow 16 C.F.R. Part 23 regarding metal fineness (karat), rhodium plating, lab-grown stone labeling, and treatment disclosures [16 C.F.R. Part 23]. 15) Category-Specific Terms A. Fine Art — Attributions (“by,” “attributed to,” “school of,” “after,” etc.) are good-faith opinions based on available scholarship and documentation; no guarantee unless expressly stated in writing [UCC opinion/estimate principles; 16 C.F.R. Part 23 (claims discipline for jewelry/precious metals where applicable)]. B. Sports Memorabilia — Third-party authentication/grading (e.g., PSA/DNA, JSA, Beckett, SGC) is disclosed where present. Unless expressly stated “authentication guaranteed,” no warranty is made for autographs, game-use, or event association; all sales final except for Gross Misrepresentation [general UCC remedies; N.J.S.A. 56:8-1 et seq.]. C. Antiques, Stained Glass, Mosaics, Fused Glass — Age-appropriate wear/repairs are typical; large/fragile pieces may require custom crating/freight at Buyer’s expense. All sales final subject to Gross Misrepresentation only [N.J.S.A. 12A:2-316]. D. Cultural/Native American/Western Antiques & Artifacts — Sold as decorative unless accompanied by recognized documentation. Buyer is solely responsible for verifying legal status and obtaining permits/permissions (including tribal consent where required). No returns except for Gross Misrepresentation [25 U.S.C. § 3001 et seq.; 16 U.S.C. § 470aa et seq.; 19 U.S.C. § 2601 et seq.]. E. Animal-Based Products — Buyer bears responsibility for CITES/USFWS permits and any customs declarations (e.g., USFWS Form 3-177) for import/export of covered wildlife items; no shipments in violation of law [50 C.F.R. Part 23; 50 C.F.R. Part 14 Subpart F]. 15F. Jewelry — Condition Definitions & “New Condition” Items Definitions: “New” or “New Condition” means the item has not been previously worn after manufacture and is not consumer-used; minor handling from inspection/photography or transit may exist and is not a defect. Where known, we will indicate NOS [16 C.F.R. Part 23]. Packaging & warranties: Unless stated, manufacturer packaging, paperwork, or warranties are not included. Manufacturer warranties, if any, are between the manufacturer and the Buyer [Magnuson-Moss where applicable; 16 C.F.R. Part 700 et seq.]. Descriptions & labeling: We follow the FTC Jewelry Guides. Metal fineness (e.g., 14K/18K/PLAT), rhodium plating, lab-grown stones, and treatments are disclosed where known; we do not guarantee fit/sizing [16 C.F.R. Part 23]. Returns: All jewelry sales are final (Section 9), subject only to Gross Misrepresentation. Any approved RMA for a New item requires return unworn/unaltered with all included accessories/packaging [N.J.S.A. 12A:2-316]. 15G. Numismatic Items — Grades, Estimates & Values (Opinions Only) All grade attributions, condition statements, rarity designations, price estimates, and value ranges provided in catalog titles/descriptions/estimates are statements of professional opinion, not guarantees or appraisals; grading opinions may differ among experts and services, and markets are volatile [general UCC principles; 15 U.S.C. §§ 2101–2106; 16 C.F.R. Part 304]. Third-party graded/slabbed items: The grade/designation/authentication are the opinion of the grading service at the time of encapsulation; no guarantee that the same grade will be assigned upon future resubmission. Removal from the holder voids claims related to the encapsulated opinion [industry standards; UCC remedies]. Bidding reliance: Bidders must evaluate the exact photographs and any available condition reports to form their own educated judgment; do not bid solely on any estimated grade or value stated by the Company or any expert [N.J.S.A. 56:8-1 et seq.]. No returns for differences of opinion: Disagreement with any stated or implied grade/estimate/value does not constitute Gross Misrepresentation and is not a basis for return or refund [N.J.S.A. 12A:2-316]. 16) Shipping-Only Workflow (Summary) 1) You pay the auction invoice (Hammer + 22% Buyer’s Premium + applicable tax + $25 S&H + any known shipping add-ons). 2) If insurance/special-service costs were not known at invoice time, we issue a separate Shipping & Insurance Invoice (actual carrier cost + insurance + any special service). 3) Shipment occurs after all amounts clear; tracking is provided. Risk of loss follows Section 7 [N.J.S.A. 12A:2-509]. 17) Data Security, AML & Sanctions We maintain commercially reasonable security measures. If and when applicable, we maintain a written AML program suitable for dealers in precious metals, stones, or jewels and conduct risk-based KYC for higher-risk transactions; we comply with U.S. sanctions and export controls and will delay/cancel suspicious transactions [31 C.F.R. Part 1027; 31 C.F.R. ch. V (OFAC)]. 18) Abandoned Property & Storage Any lot unpaid or undeliverable 30 days after auction close (absent written arrangements) is deemed abandoned. We may resell, dispose of, or retain it and apply proceeds to balances and storage ($10/lot/day after day 30) [contractual remedy; N.J.S.A. 12A:2-703 et seq.]. 19) Platform Rules & Transparency We follow applicable platform rules and FTC guidance for truthful advertising. All premiums, taxes, and fees are disclosed prior to bidding [FTC Act §5; NJ Consumer Fraud Act, N.J.S.A. 56:8-1 et seq.]. You are responsible for reviewing platform-specific terms and any lot-level notices. 20) Prohibited Conduct & Auction Integrity No shill bidding, self-bidding, price manipulation, or collusion. We monitor bidding patterns and may revoke privileges, ban accounts, and report misconduct [N.J.S.A. 56:8-1 et seq.; general fraud statutes]. 21) Authenticity Disclaimer for Uncertified Items Unless a lot is explicitly sold as “authentication guaranteed,” we make no warranty—express or implied—of authenticity for uncertified/ungraded items (autographs, unmarked jewelry, ungraded coins, designer goods). Conduct your own due diligence before bidding; no returns on authenticity disputes for uncertified items except for Gross Misrepresentation [N.J.S.A. 12A:2-316]. 21A) Estimates, Cataloging Opinions & Bidder Responsibility (All Categories) Any estimates of grade, quality, size, carat weight, maker, provenance, period, retail replacement value, fair-market value, or other valuation stated by the Company or a third-party expert are opinions only—they are not guarantees, appraisals, or predictions of future value. You must review the exact photographs and any available reports, seek independent advice where desired, and form your own judgment. Do not bid solely on any estimate or opinion stated in a lot title or description. Differences of opinion do not constitute Gross Misrepresentation [N.J.S.A. 12A:2-316; 16 C.F.R. Part 23 (where applicable)]. 22) Consignor Terms (Summary) Consignors must provide accurate descriptions, 3–5 images per lot (more on request), provenance, and reserve (if any). We provide prepaid insured labels for inbound shipments; consignor must photo/video the packing hand-off. Payment to the consignor is initiated upon receipt/verification of goods and clear funds from Buyer, subject to disputes; funds may be escrowed if a dispute arises. Consignor warrants good title and indemnifies the Company for misrepresentation or title defects [N.J.S.A. 12A:2-312 (title); 12A:2-607(5)(a) (notice)]. Where a written “reserve only” arrangement is agreed, consignor receives the reserve amount if met; amounts above reserve are retained by the Company as commission, plus buyer’s premium. 22) Consignment Agreement (Revised & Expanded — supersedes prior summary) 22.1 Written Agreement & Lot Intake — A separate, signed Consignment Agreement is required before listing. The Consignor must provide accurate descriptions, provenance, disclosures (treatments/repairs for jewelry, FTC Jewelry Guides compliance), and a minimum of 3–5 high quality photos per lot (more as requested). The Company may request additional images, lab reports, grading, or testing at Consignor’s cost if necessary for compliance or risk control [16 C.F.R. Part 23]. 22.2 Reserve Election — For each lot, the Consignor may elect: (a) No Reserve; (b) a disclosed Reserve (published or displayed by the platform); or (c) a Silent (Undisclosed) Reserve recorded internally. All Reserves must be authorized in writing prior to catalog finalization. Unless a lot is expressly labeled “Absolute/No Reserve,” it is offered “with reserve” [N.J.S.A. 12A:2 328(3)]. 22.3 Right to Reject Below Reserve — If the hammer does not reach the Reserve or Silent Reserve, the Consignor has the right to reject the sale. The Company may, at the Consignor’s option, mark the lot “Subject to Seller Confirmation” and request a decision within the confirmation window [N.J.S.A. 12A:2 328(3)]. 22.4 Confirmation Window — Unless otherwise agreed in writing, the Consignor shall accept or reject a below reserve high bid within two (2) business days after close. Silence is deemed rejection. Upon acceptance, the sale becomes binding at the confirmed price; Buyer is invoiced and standard terms apply. 22.5 Reserve Adjustments — Prior to close, the Consignor may authorize the Company in writing to reduce or remove a Reserve; the Company is not obligated to do so. Any changes must be recorded by the Company and, where applicable, updated on the platform. 22.6 Seller’s Right to Bid / House Bidding — The Company will not place bids to advance price except as allowed by law and platform rules and only where the “seller’s right to bid” has been clearly announced. Bidding by the seller/consignor or agents is prohibited unless the right to bid is announced; otherwise buyers may avoid the sale [N.J.S.A. 12A:2 328(4)]. 22.7 Commission & “Reserve Only Commission” Option — Standard commissions apply unless a written “reserve only commission” is agreed: if the lot sells at or above the Reserve, the Consignor receives only the Reserve and amounts above the Reserve (and buyer’s premium) are retained by the Company as commission. If the lot sells below Reserve by Consignor acceptance, the parties’ written agreement controls the split; absent agreement, standard commissions apply. 22.8 Unsold Lots — If a lot remains unsold, the Company may (at Consignor’s election): (i) relist in a subsequent sale, (ii) offer by private treaty, or (iii) return the lot. Relisting may involve revised estimates or reserves. Consignor is responsible for return shipping/insurance; the Company may charge storage after 30 days per Section 18. 22.9 Title, Risk & Indemnity — Consignor warrants good title, the right to sell, and the accuracy of disclosures; Consignor indemnifies the Company for losses from breach or misrepresentation. The Company holds a security interest and lien for sums due, costs, advances, storage, and fees [N.J.S.A. 12A:9 201; 12A:9 609]. 22.10 Marketing & Platform Control — The Company controls lot placement, order, category assignment, estimates, and promotional use of images/videos. The Company may withdraw or postpone lots for compliance, title, authenticity, or risk reasons. 22A) Consignment Agreement — Reserves, Silent Reserves & Seller Confirmation Election of Reserve Status. For each lot, the Consignor may elect in writing prior to cataloging: (a) No Reserve; (b) Reserve (disclosed minimum); or (c) Silent Reserve (undisclosed minimum recorded internally) [N.J.S.A. 12A:2 328(3)]. Setting & Changing Reserves. Reserves must be stated in U.S. dollars and be received before catalog publication. Any later change requires written confirmation by both the Consignor and the Company prior to the lot opening for bidding. Below Reserve Results (Subject to Seller Confirmation). If the Reserve (or Silent Reserve) is not met at close, the lot is “Subject to Seller Confirmation.” The Consignor has the right to accept or reject the high bid within **48 hours** after Auction close (unless a different window is posted for that sale). If the Consignor accepts, the sale is binding at the high bid and applicable terms; if the Consignor rejects or fails to respond within the window, the lot is deemed unsold and may be relisted or returned [N.J.S.A. 12A:2 328(3)]. Right to Reject Below Reserve Sales. The Consignor may reject any sale where the hammer is below the Reserve or Silent Reserve. The Company will not compel a below reserve sale without the Consignor’s written acceptance [N.J.S.A. 12A:2 328(3)]. Absolute / No Reserve Lots. If a lot is expressly cataloged as “Absolute/No Reserve,” it will not be subject to a Reserve and will be sold to the highest bona fide bidder once bidding opens (subject only to announced conditions and lawful withdrawals unrelated to price) [N.J.S.A. 12A:2 328(3)]. House Bidding & Reserve Protection. The Company may use absentee bid execution tools or house bids solely to execute absentee limits and/or to protect a lawful, announced Reserve, but never to exceed the Reserve or to fabricate bidding momentum. Where seller bidding is permitted by law and platform rules, such right is **announced** per statute [N.J.S.A. 12A:2 328(4)]. Relisting & Private Treaty Sales. Unsold lots (including below reserve results not accepted) may be: (i) relisted in a future sale; (ii) offered in private treaty at or above Reserve; or (iii) returned to the Consignor at the Consignor’s expense. Additional photography/handling/storage fees may apply as posted. Commission Models. If a written “reserve only commission” structure is agreed, once the Reserve is met or accepted, the Consignor receives the agreed Reserve amount and the Company retains any amount above the Reserve **plus** the Buyer’s Premium as commission. Otherwise, standard commissions apply as stated in the Consignment Agreement. Withdrawal. The Consignor may not withdraw a lot after consignment acceptance except for good cause and with Company approval; withdrawal fees equal to marketing/handling costs and any platform penalties may apply [general contract principles]. Tie Bids & Auctioneer’s Record. Tie bids are resolved at the auctioneer’s discretion; the auctioneer’s console record is final. Absentee bids are executed competitively up to the maximum left by the bidder [platform rules + general UCC auction practice]. 22A) Reserve Mechanics & Seller Confirmation 22A.1 With Reserve Default — Auctions are presumed “with reserve” unless expressly stated otherwise. The auctioneer may withdraw a lot prior to the fall of the hammer in a with reserve sale [N.J.S.A. 12A:2 328(3)]. 22A.2 No Reserve (Absolute) — In a no reserve auction, once the auctioneer calls for bids, the lot may not be withdrawn except as permitted by law; no seller or agent bidding is permitted [N.J.S.A. 12A:2 328(3)–(4)]. 22A.3 Below Reserve Close — If the high bid is below the Reserve or Silent Reserve at close, the listing will state “Subject to Seller Confirmation” and the Company will solicit the Consignor’s decision during the confirmation window. If accepted, the sale is consummated at the confirmed price. If rejected, the lot is deemed unsold and may be relisted or offered privately. 22A.4 Platform Auto Reserve — Where a platform provides an automated reserve feature, the platform’s mechanism may prevent a sale below Reserve without any manual bidding by the Company. The Company will not use artificial bids to “chase” reserve unless the seller’s right to bid has been announced as required by law [N.J.S.A. 12A:2 328(4)]. 23) Amendments, Severability & Entire Agreement We may amend these Terms at any time by posting; continued participation is acceptance. If any provision is invalid or unenforceable, the remainder stays in effect. These Terms (plus posted policies and auction-specific notices) form the entire agreement [general contract principles]. 24) Notices Most Elite Collections LLC | P.O. Box 441, Little Egg Harbor, NJ 08087 Email: mostelitecollections@gmail.com | Phone: (640) 208-5413 25.1 Quick SOP — Reserves & Confirmations 1) Intake: Consignor selects No Reserve / Reserve / Silent Reserve **in writing**; record the amount (if any) and confirmation window length. 2) Cataloging: Paste the appropriate per lot label text; set platform reserve controls; mark “Absolute/No Reserve” only where truly no reserve applies. 3) Live/timed sale: If reserve unmet at close, immediately set status “Subject to Seller Confirmation” and email the consignor; diary the deadline (2 business days unless otherwise agreed). 4) Post sale: If consignor accepts, finalize sale and invoice buyer; if rejects or silent at deadline, mark unsold and discuss relist/private treaty; update storage/return status. Appendix A — NJ/US Legal References (select) UCC (NJ): Sale by auction, risk of loss, title passing. NJ Sales Tax for Auctioneers; Coins/Bullion Exemption (Publication ANJ 3; NJ Treasury guidance). Credit Card Surcharges (NJ 2023 law & FAQ): Surcharge = actual processing cost; disclose prior to payment. Hobby Protection Act (coins/replicas): “COPY” marking rules (16 CFR Part 304). Fur Products Labeling Act (16 CFR Part 301) and FTC guidance; NJ ivory/rhino restrictions. USFWS wildlife declarations (Form 3 177) for import/export. OFAC/G7 Russian origin diamond restrictions (thresholds, documentation). AML for dealers in precious metals/stones/jewels (FinCEN) Municipal auction/precious metals dealer licensing examples (local ordinances vary). Appendix B — Legal References (NJ, Federal & International) Principal authorities cited inline include: N.J.S.A. 12A:2-328, 2-401, 2-509, 2-510, 2-703–2-719 (New Jersey UCC). N.J.S.A. 54:32B-8.32 (investment bullion/coins exemption); N.J. Div. of Taxation Pub. ANJ-3 (Auctioneers & NJ Sales Tax). N.J.S.A. 56:8-156.2 (credit-card surcharge). N.J.S.A. 51:6A-1 et seq. (precious metals dealers); N.J.S.A. 2C:21-36/-37 (secondhand jewelry). N.J.S.A. 23:2A-13.1 to -13.5 (ivory/rhino commerce restrictions). 16 C.F.R. Part 23 (FTC Jewelry Guides); 15 U.S.C. § 69 et seq.; 16 C.F.R. Part 301 (Fur Rules). 15 U.S.C. §§ 2101–2106; 16 C.F.R. Part 304 (Hobby Protection Act). 50 C.F.R. Part 23; 50 C.F.R. Part 14 Subpart F; USFWS Form 3-177 (CITES/wildlife declarations). 31 C.F.R. Part 1027 (AML for dealers in precious metals, stones, jewels); 31 C.F.R. ch. V (OFAC). 9 U.S.C. §§ 1–16; N.J.S.A. 2A:23B-1 et seq. (arbitration). Local ordinances (e.g., Little Egg Harbor Twp. Code Ch. 318) for secondhand/precious-metals dealers. Appendix C- Copy Ready Per Lot Labels Offered with Reserve (Silent) — “This lot carries a Silent Reserve. If the Reserve is not met, the lot will close **Subject to Seller Confirmation (48 hours).” -Subject to Seller Confirmation (48 hours) — “High bid below Reserve. Consignor may accept or reject the high bid within 48 hours after close.” Absolute / No Reserve — “This lot is Absolute/No Reserve and will sell to the highest bona fide bidder once bidding opens.” House Bid / Bid on Behalf — “The auctioneer may execute bids on behalf of absentee bidders and/or solely to protect a lawful, announced Reserve, where permitted and announced; never to exceed the Reserve or to inflate price [N.J.S.A. 12A:2 328(4)].” Appendix D — Customer Facing Disclosures Pack (Quick Paste). A) Credit Card Surcharge (NJ): “Payment Options: Pay by wire/ACH/Zelle (no fee) or credit card. If you choose credit, a {3%} credit card surcharge (not applied to debit/prepaid) will be added before you confirm payment. This surcharge does not exceed our actual processing cost and is shown again at checkout. [N.J.S.A. 56:8 156.2]” B) Shipping Only: “Standard S&H Fee: $25 per shipment. Buyer pays actual carrier charges and **mandatory insurance** for the full invoice value. S&H/insurance may be billed on a separate Shipping & Insurance Invoice before release.” C) Jewelry — “New Condition” badge: “NEW/NEW CONDITION: not previously worn after manufacture; minor handling from inspection may be present. Unless stated, no manufacturer warranty is included. Review photos/notes and bid according to your own judgment. [16 C.F.R. Part 23]” D) Coins — Grades & Estimates: “Grades, rarity designations, and estimates shown are expert opinions only—not guarantees or appraisals. Use the exact photos to make your own informed judgment. Do not bid solely on any estimate or stated grade. [15 U.S.C. §§ 2101–2106; 16 C.F.R. Part 304]”