RULES & PROCEDURES FOR ABSENTEE BIDS

Understanding that many bidders will find it difficult to travel to each of our Auctions, or to remain for the entire Auction, we have implemented an Absentee Bid Policy that we believe is easy to understand and fair to everyone.

1) Our company will be happy to execute Absentee Bids as a courtesy to those bidders unable to attend our Auctions in person, or for those bidders who choose not to remain for the entire Auction. However, neither The Michael Ivankovich Antiques & Auction Co. Inc, nor any of its staff, will be held responsible for any errors in the execution of your Absentee Bids, or for the possible failure to execute any of your Absentee Bids.

2) It is your responsibility to personally inspect any items that interest you.

3) If you are unable to personally inspect those items that interest you, we highly recommend that you have a third party whose opinion you trust inspect the items for you and report back to you with their opinion.

4) As a last resort you are welcome to call us for a Condition Report. A Condition Report is nothing more than our subjective opinion regarding the condition of each item in the Auction. When you call us for a Condition Report, we do not physically inspect the actual item at that time. Rather, we refer to notes that we have taken when we were keying that item for the Auction Catalog. We promise that we will always be as honest and forthright as possible with you about condition. However, we sometimes catalog as many as 1,000+ lots per Auction and honest mistakes may occur. As a result we do not accept responsibility for any errors when evaluating or reporting condition and we cannot accept the return of any items purchased by an Absentee Bidder...for any reason.

5) All bidding will start on the floor. We will execute your bid in your absence up to your stated maximum. As a result, you may be able to purchase an item for less than your stated maximum bid. Under no circumstances will we bid higher for you than the maximum authorized amount. In the rare event that there is no opening bid from the floor, we will open the bidding with a $10.00 bid from the Absentee Bidder.

6) Absentee Bids must correspond to our Standard Bid Increments as set out in the Standard Bid Increment Table below. If a submitted Absentee Bid fails to follow these Standard Bid Increments, we will automatically lower your bid to the next lowest Standard Bid Increment.

7) In the event that we receive two or more different Absentee Bids on the same item, we will open the bidding at the second highest bid...plus one standard bid increment. (e.g., If Absentee Bids of $100 and $200 are received on the same lot, we would open the bidding at $110. If Absentee Bids of $300, $600 and $900 are received on the same lot, we would open the bidding at $650).

8) In the event that we receive two identical Absentee Bids on the same item (e.g., two bids at $100), we will execute the first $100 bid that was received and the second $100 bid will be voided. Therefore it is to your advantage to submit your Absentee Bids as early as possible.

9) A 15% Buyer's Premium will be added to all successful Internet bids (18% with Visa or MasterCard). A 10% Buyer's Premium will be added to all successful In-Person bids, Absentee bids, and Telephone bids (13% with Visa or MasterCard). Any appropriate State and/or Local Sales Taxes will also be added to all successful bids unless you have executed a valid Sales Tax Exemption Form on file with our company. Your authorized maximum bid does not include the Buyer's Premium, Sales Tax, or Shipping so please bid accordingly.

10) Unless you are already known by us and are an established customer, all Absentee Bids must be executed in writing and contain either a) an amount equal to 20% of your maximum Absentee Bid amount, or b) a valid Visa or MasterCard number and Expiration Date on file at our offices.

11) We prefer to handle Condition Report Inquiries over the telephone rather than via e-mail because we have found that we can provide more details...more quickly...verbally over the telephone. Because of our Auction Travel and Set-Up Schedule, the cut-off point for reaching our offices for Condition Reports is usually 24-48 hours prior to the start of the Auction

12) Shipping: We will be happy to deliver any items you win to our local UPS Store at no charge. They will contact you directly and you can arrange your own shipping instructions and payment. Beware that larger pictures may fall into an "oversized category" which requires an additional fee from UPS.

13) You should recognize that we are selling at Auction items that are often nearly 100 years old. Grading and Condition can be very subjective and grading perceptions will vary from individual to individual. We are also sometimes grading as many as 800-1000+ items per Auction and honest mistakes may occur. While we will attempt to be as honest and as forthright as possible in our Condition Reports, we will not accept any returns...on any item...for any reason.

14) While we are happy to execute your Absentee Bids, you should understand that our company has entered into a contractual relationship with each of our consignors. We represent our consignors in our Auctions and our acceptance and execution of your Absentee Bids should not suggest that we are representing you in any manner other than by extending the professional courtesy to you of accepting and executing your Absentee Bids.

Standard Bid Increment Table

The following represents the Standard Bid Increments that the Auctioneers will use throughout the Auction. However, the Auctioneer reserves the right to deviate from these standard increments at his discretion.