A TURQUOISE AND DIAMOND RING Featured turquoise has a halo of diamonds accented with a small

1. INSPECTION

All Lots are available for inspection prior to the auction. Condition Reports are usually upon request for items valued $500 or above. Prospective bidders or their representatives are strongly encouraged to personally examine any property in which they are interested, before the auction takes place, to evaluate its condition, size, and whether or not it has been altered, damaged, repaired or restored. All dimensions, measurements and weight listed in the catalogue or Condition Report are approximate. References in the catalogue or Condition Report regarding damage or restoration are for guidance only, and buyers are responsible for satisfying themselves concerning the condition of the property and matters referred to in the Condition Report and catalogue.

2. WARRANTIES AND DISCLAIMERS

All sales are final, with no returns, exchanges or refunds. ALL LOTS ARE SOLD AS IS and without recourse and neither MORTON AUCTIONEERS & APPRAISERS nor the Consignor makes any representations or warranties, expressed or implied, of any kind or nature as to merchantability, fitness for a particular purpose, correctness of the catalogue, Condition Report or other description of the physical condition, size, quality, rarity, importance, medium, material, provenance, authenticity, genuineness, attribution, period, style, culture, source, origin, exhibitions, literature or historical significance of any Lot. The absence of any reference to the condition of a Lot does not imply that the Lot is in perfect condition or completely free from wear and tear, restoration, imperfections, the effects of aging, or any other defects. The reference to particular defects does not imply the absence of others.

All statements contained in Condition Reports, advertisements, salesroom postings or announcements, and catalogues, including online catalogues and brochures, or made orally or in writing elsewhere, are statements of opinion and are not to be relied on as statements of fact. No statement anywhere, whether oral or written, express or implied, shall be deemed to create any warranty, representation or assumption of liability. No employee or agent of MORTON AUCTIONEERS & APPRAISERS is authorized to make any oral or written representation or warranty, express or implied, with respect to any property on behalf of MORTON AUCTIONEERS & APPRAISERS or the Consignor. MORTON AUCTIONEERS & APPRAISERS and the Consignor are not responsible for any errors or omissions in the catalogue, Condition Report, or any supplemental material.

MORTON AUCTIONEERS & APPRAISERS and the Consignor make no representations or warranties, express or implied, that the buyer acquires any copyright or reproduction rights in any Lot sold. MORTON AUCTIONEERS & APPRAISERS reserves the right to reproduce any image of any Lots in the catalogue. MORTON AUCTIONEERS & APPRAISERS retains the copyright in all images, illustrations and written material produced by or for MORTON AUCTIONEERS & APPRAISERS relating to a Lot, including the contents of the catalogue. Neither the buyer, nor any other person, may use such material without prior written consent by MORTON AUCTIONEERS & APPRAISERS.

DUE TO THE INHERENTLY DANGEROUS NATURE OF FIREARMS AND WEAPONRY, PURCHASER UNDERSTANDS AND ACCEPTS ALL RISK OF LOSS OR DAMAGE RELATING TO PURCHASE OF THESE ITEMS. NEITHER MORTON AUCTIONEERS & APPRAISERS NOR THE CONSIGNOR MAKES ANY REPRESENTATION OR WARRANTY, WHETHER EXPRESSED OR IMPLIED, AS TO THE FITNESS TO FIRE OR OTHERWISE DISCHARGE ANY FIREARM OFFERED AT SALE. THE PURCHASER EXPRESSLY ACKNOWLEDGES AND AGREES THAT IN NO EVENT SHALL MORTON AUCTIONEERS & APPRAISERS BE LIABLE FOR ANY INJURY, ACCIDENT, OR DAMAGE RESULTING TO ANY PERSON OR PROPERTY FROM THE STORAGE OR SUBSEQUENT USE OF ANY SUCH LOT, AND EXPRESSLY INCLUDING WITHOUT LIMITATION ANY COMPENSATORY, INCIDENTAL, OR CONSEQUENTIAL DAMAGES. USE OF ANY FIREARM PURCHASED AT MORTON AUCTIONEERS & APPRAISERS IS ENTIRELY AT THE USER'S RISK AND ANY DECISION TO DO SO SHOULD BE MADE IN CONSULTATION WITH, AND AFTER THOROUGH INSPECTION BY, A COMPETENT GUNSMITH.

THE COMPANY RESERVES THE RIGHT TO REFUSE SALE OF ANY FIREARM TO ANY PURCHASER OR PROSPECTIVE PURCHASER AT OUR SOLE AND COMPLETE DISCRETION.

3. ESTIMATES

Each Lot offered for sale is given a high and low Estimate representing the range which, in the opinion of MORTON AUCTIONEERS & APPRAISERS, represents a fair prediction of the Lot?s auction price. Pre-sale Estimates, which do not include the Buyer?s Premium, may or may not reflect the Hammer Price of a Lot and should not be relied upon as a statement of its value, the price at which the Lot will sell, or for any other purpose. MORTON AUCTIONEERS & APPRAISERS reserves the right to adjust Estimates on any Lot prior to or during the auction.

4. WITHDRAWAL AND BIDDING

MORTON AUCTIONEERS & APPRAISERS reserves the right to withdraw any Lot at any time before its final sale and to reject any Bid for any reason and shall have no liability whatsoever for such withdrawal or rejection. The highest bidder for each Lot, acknowledged by the auctioneer, shall be the ?buyer.? In the case of error, uncertainty regarding the validity of any Bid, or any dispute with respect to bidding, whether during or after the sale, the auctioneer has absolute, final and sole discretion to determine the successful bidder, to permit bidding to continue, to rescind the sale, or to re-offer and re-sell the disputed Lot.

5. BUYER?S PREMIUM AND SALES TAX

The total purchase price payable by the buyer includes the Hammer Price of the Lot, a Buyer's Premium for that Lot equal to 22% of the Hammer Price, as well as any and all applicable state and local sales taxes (online buyer?s Premium 24%). Tax-exempt individuals, businesses, and organizations must present a valid tax exemption certificate at the time of purchase. 

6. RESERVES

Lots offered for auction are subject to a Reserve, which is the confidential minimum Hammer Price below which such Lot will not be sold. The Reserve is set by MORTON AUCTIONEERS & APPRAISERS in consultation with the Consignor. No Reserve shall exceed the low pre-sale Estimate of the Lot as stated in the catalogue, or as amended by posted notices or oral announcements prior to or during the auction. The auctioneer may implement the Reserve by opening the bidding on any Lot by placing a Bid on behalf of the Consignor and bidding up to the amount of the Reserve, placing successive or consecutive Bids for a Lot, or placing Bids in response to other bidders. Neither Consignors nor their agents are permitted to Bid on their own items.

7. NOTICE REGARDING CERTAIN CATEGORIES OF GOODS

(a) Furniture: MORTON AUCTIONEERS & APPRAISERS does not accept responsibility or liability for any errors or omissions with respect to the description of any alterations, restorations, or additions to a Lot, which may be concealed by upholstery, gilding, or painted decoration and could only be detected by physically dismantling the Lot.

It is the buyer?s responsibility to personally examine any property in which he or she is interested, before the auction takes place, to evaluate its condition, size, and whether or not it has been altered, damaged, repaired or restored. Neither MORTON AUCTIONEERS & APPRAISERS nor the Consignor makes any representations or warranties expressed or implied, of any kind or nature with respect to the condition, size, quality, provenance, authenticity, genuineness, attribution, period, style, culture, source, or origin of any Lots of furniture.

Furniture that is made of, or incorporates, materials from endangered or protected species (such as ivory, tortoiseshell, crocodile skin, rhinoceros horn, whale bone, certain species of coral and Brazilian rosewood) may be subject to restrictions and regulations in certain countries and may not be lawfully imported or exported without proper permits. It is the buyer?s responsibility to determine and comply with the requirements of any applicable state, federal and international laws or regulations governing the import or export of property containing endangered or protected wildlife material. The buyer?s inability to import or export property containing such material shall not constitute grounds for cancellation or rescission of the sale.

(b) Jewelry: Jewelry sold at MORTON AUCTIONEERS & APPRAISERS may have been previously repaired, altered or embellished. Prospective bidders understand and acknowledge that colored gemstones offered for sale may have been treated to enhance their color, clarity, transparency, or appearance. Certain enhancement methods, including heating and oiling, have been generally accepted by the international jewelry trade, but may have some impact on the durability of the gemstone. Therefore, special care of the gemstone may be required over time. For example, gemstones that have been oiled previously may require re-oiling after a period of time to maintain their maximum appearance. MORTON AUCTIONEERS & APPRAISERS will not obtain a gemological report for each gemstone offered for sale.

It is the buyer?s responsibility to personally examine any property in which he or she is interested, before the auction takes place, to evaluate its condition, size, and whether or not it has been altered, damaged, repaired or restored. Neither MORTON AUCTIONEERS & APPRAISERS nor the Consignor makes any representations or warranties expressed or implied, of any kind or nature with respect to the color, clarity, condition, size, quality, provenance, authenticity, genuineness, source, or origin of any Lots of jewelry.

(c) Clocks and Watches: Many clocks and watches have been repaired in the course of their lifetime and may now incorporate parts that are not original to them. Watches with waterproof or water-resistant cases may have been opened to identify type and condition. MORTON AUCTIONEERS & APPRAISERS makes no representations or warranties that any clock or watch is in working order, or that wristwatches with waterproof or water-resistant cases are still waterproof or water-resistant at the time of purchase. By bidding, buyers understand and acknowledge that they are solely responsible for any battery replacement, general service or further repairs that may be necessary.

All Rolex watches are sold as viewed and MORTON AUCTIONEERS & APPRAISERS cannot guarantee the authenticity of any individual component part of such watches.

Watches with bands that are made of, or incorporate, materials from endangered or protected species (such as ivory, tortoiseshell, crocodile skin, rhinoceros horn, whale bone, certain species of coral and Brazilian rosewood) may be subject to restrictions and regulations in certain countries and may not be lawfully imported or exported without proper permits. It is the buyer?s responsibility to determine and comply with the requirements of any applicable state, federal and international laws or regulations governing the import or export of property containing endangered or protected wildlife material. The buyer?s inability to import or export property containing such material shall not constitute grounds for cancellation or rescission of the sale.

It is the buyer?s responsibility to personally examine any property in which he or she is interested, before the auction takes place, to evaluate its condition, size, and whether or not it has been altered, damaged, repaired or restored. Neither MORTON AUCTIONEERS & APPRAISERS nor the Consignor makes any representations or warranties, expressed or implied, of any kind or nature with respect to the condition, size, quality, rarity, importance, material, provenance, authenticity, genuineness, attribution, period, style, culture, source, origin, of any Lots of clocks or watches.

8. ABSENTEE/TELEPHONE/INTERNET BIDDING

MORTON AUCTIONEERS & APPRAISERS, in its discretion, offers absentee and telephone bidding services as a convenience to its clients. Internet bidding may be available for selected auctions. MORTON AUCTIONEERS & APPRAISERS is not responsible for errors, failures or omissions to execute absentee, telephone or internet Bids for any reason. 

(a) Absentee Bids: MORTON AUCTIONEERS & APPRAISERS will use reasonable efforts to execute written Bids for clients who are unable to attend the auction in person. Written Bids must be placed at least four hours prior to the auction by submitting an Absentee Bid registration form. Absentee Bid registration forms are available at our offices, online, and in the auction catalogue. All Absentee Bids submitted to MORTON AUCTIONEERS & APPRAISERS must include a maximum Bid amount for each Lot. Incomplete Absentee Bid registration forms will not be accepted or executed.

To guarantee payment, MORTON AUCTIONEERS & APPRAISERS requires a copy of a current driver?s license and a valid credit card on file for authorization. Additionally, at MORTON AUCTIONEERS & APPRAISERS? sole discretion, absentee bidders may be required to provide necessary financial references, guarantees, and/or deposits, including cash, or a cashier?s check, as security for the buyer?s Bid(s).

If we receive written Bids on a particular Lot for identical amounts, and these are the highest Bids for the Lot at the auction, the Lot will be sold to the person whose Absentee Bid registration form was received and accepted first.

(b) Telephone Bids: The availability of telephones is limited. Telephones are assigned on a first-come, first-serve basis. Telephone Bids will be usually available for lots with a low-end Estimates of $500 or above. Requests to Bid by telephone must be received a minimum of 24 hours prior to the auction. MORTON AUCTIONEERS & APPRAISERS may record telephone Bids. By bidding via telephone, you consent to the recording of your conversation.

(c) Internet Bids: MORTON AUCTIONEERS & APPRAISERS may offer clients the opportunity to Bid online for certain sales. By bidding online, you understand and acknowledge that you are bound by these Terms and Conditions as well as the Terms and Conditions of any online bidding services that MORTON AUCTIONEERS & APPRAISERS may use.

9. BIDDING INCREMENTS

In general, the bidding increments for Lots sold at auction are as follows:

$0 - $499 ; $25

$500 - $999 ; $50

$1,000 - $1,999 ; $100 

$2,000 - $4,999 ; $250

$5,000 - $9,999 ; $500

$10,000 - $19,999 ; $1,000

$20,000 - $49,999 ; $2,000

$50,000 - $999,999 ; $5,000

$100,000 - $199,999 ; $10,000

$200,000 - up ; $25,000

MORTON AUCTIONEERS & APPRAISERS reserves the right to adjust Bid increments at any time prior to or during the auction.

10. BUYER'S RESPONSIBILITY

Upon the fall of the auctioneer?s hammer, the highest bidder accepted by the auctioneer will be the buyer, and the contract between the Consignor and the buyer is concluded. At the time of sale, the winning buyer will immediately pay the total purchase price and assumes full risk and responsibility for that Lot without limitation, including liability for loss or damage. MORTON AUCTIONEERS & APPRAISERS reserves the right to hold merchandise purchased by personal check until funds have cleared.

11. PURCHASE PRICE AND PAYMENT

The total purchase price payable by the buyer shall equal the Hammer Price of the Lot, the Buyer's Premium 22% (online buyer's premium 24%), and any and all applicable sales taxes. DOMESTIC CLIENTS: MORTON AUCTIONEERS & APPRAISERS accepts bank wire transfers, cash, cashier?s checks, travellers checks, money orders, Visa, MasterCard, American Express or Discover credit cards. Additionally, (a) items purchased in person must be paid for on the day of the auction, otherwise the buyer's credit card will be charged the next day; (b) for items purchased via telephone or absentee bidding, the buyer's credit card will be charged the day after the auction or by the 5th day if good funds have not been received after the auction pursuant to an alternate arrangement with MORTON AUCTIONEERS & APPRAISERS; or (c) for items purchased online, the buyer will be emailed an invoice the day after the auction. Buyer shall be responsible for contacting MORTON AUCTIONEERS & APPRAISERS to make payments via telephone at 713-827-7835 or by email at billing@mortonhouston.com. INTERNATIONAL CLIENTS: MORTON AUCTIONEERS & APPRAISERS accept bank wire transfers, Visa, MasterCard, American Express or Discover credit cards. Additionally, (a) for items purchased via telephone or absentee bidding, the buyer's credit card will be charged the day after the auction or by the 5th day if good funds have not been received after the auction pursuant to an alternate arrangement with MORTON AUCTIONEERS & APPRAISERS; or (b) for items purchased online, the buyer will be emailed an invoice the day after the auction. Buyer shall be responsible for contacting MORTON AUCTIONEERS & APPRAISERS to make payments via telephone at 713-827-7835 or by email at billing@mortonhouston.com.

12. SHIPPING & PACKING:

It is the sole responsibility of the buyer to remove purchased property at his or her expense following the auction. MORTON AUCTIONEERS & APPRAISERS is not responsible or liable for any loss, damage, error, omission or delay by any packing, shipping, or transport company or individual, whether or not recommended by MORTON AUCTIONEERS & APPRAISERS. The buyer assumes full risk and responsibility for packing, handling, and shipping of purchased Lots, and is required to pay for all packing, shipping and insurance charges. Please be aware that shipping charges may be substantial for larger and/or valuable items. 

Notwithstanding anything to the contrary in this Section 12, MORTON AUCTIONEERS & APPRAISERS may, at an additional fee and upon buyer?s request in writing, pack, insure and deliver purchased property to a destination within the metropolitan area of Houston, Texas; provided, however, that the purchase price of such purchased property does not exceed $100,000 in value. If MORTON AUCTIONEERS & APPRAISERS agrees with a buyer to pack and deliver purchased property as described in this Section 12, in no event shall MORTON AUCTIONEERS AND APPRAISERS be liable for loss, damage, delay, misdelivery not caused by its own negligence; or loss, damage, delay, misdelivery or nondelivery by (i) the act, default or omission of the buyer, or any other party who claims interest in the purchased property, (ii) unforeseeable circumstances out of the control of MORTON AUCTIONEERS & APPRAISERS, public

enemies, public authorities acting with actual or apparent authority of law, riots, strikes or other local disputes, civil commotions, hazards incident to a state of war or acts of terrorism, weather conditions or mechanical delay of company vehicles or of third-party common carriers hired by the company, or (iii) acts or omissions of any person other than MORTON AUCTIONEERS & APPRAISERS. Further, MORTON AUCTIONEERS & APPRAISERS shall not be liable for any claims or damage to abandoned or refused, delayed, redelivered, or not delivered purchased property by reason of the fault of buyer. MORTON AUCTIONEERS & APPRAISERS SHALL NOT BE LIABLE FOR ANY SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, INCLUDING, BUT NOT LIMITED TO, LOSS OF PROFITS, OR INCOME WHETHER OR NOT MORTON AUCTIONEERS & APPRAISERS, OR ANY CARRIER CONTRACTED BY MORTON AUCTIONEERS & APPRAISERS, HAD KNOWLEDGE THAT SUCH DAMAGES MIGHT BE INCURRED. WRITTEN NOTICE OF LOSS DUE TO DAMAGE OR SHORTAGE MUST BE REPORTED BY BUYER TO MORTON AUCTIONEERS & APPRAISERS WITHIN 5 DAYS FOR VISIBLE DAMAGE AND 12 DAYS FOR CONCEALED DAMAGE AFTER THE DELIVERY OF PURCHASED PROPERTY. WRITTEN NOTICE OF LOSS DUE TO NONDELIVERY MUST BE REPORTED BY BUYER TO MORTON AUCTIONEERS & APPRAISERS WITHIN 30 DAYS AFTER ACCEPTANCE OF THE DELIVERY OF PURCHASED PROPERTY. Receipt of the purchased property by buyer or his or her agents without notification in writing of damage on the delivery receipt shall be prima facie evidence that shipment was delivered in the same AS IS condition as purchased by buyer.

13. REMOVAL AND STORAGE OF PROPERTY

Following the auction, buyers are required to remove all purchased Lots from the premises. MORTON AUCTIONEERS & APPRAISERS assumes no responsibility or liability for any damage or loss to any property that has not been removed from its premises after the auction.

Where property is not collected within ten (10) business days for Domestic Clients and thirty (30) for International Clients from the date of the auction, whether or not payment has been made, MORTON AUCTIONEERS & APPRAISERS reserves the right to subject the purchased lots to storage and moving charges, of $20.00 per lot per day. In the event the purchased Lot is not removed from the premises of MORTON AUCTIONEERS & APPRAISERS within ninety (90) business days, MORTON AUCTIONEERS & APPRAISERS shall have the right, at its sole discretion, to either (i) offer the lot for sale without providing notice to the purchaser and recover any past due storage fees; or (ii) pursue any and all remedies available in equity or at law, including without limitation, statutory remedies provided in Section 7.209 and 7.210 of the Texas Business and Commerce Code. For purposes of these Terms and Conditions, the terms set forth in this Section 13 shall be deemed a ?storage agreement? for purposes of establishing a statutory warehouse?s lien under Section 7.209 of the Texas Business and Commerce Code.

The buyer assumes full responsibility for any and all moving and/or storage fees. MORTON AUCTIONEERS & APPRAISERS assumes no responsibility for any damage or loss associated with the transportation, delivery or storage of property.

14. REMEDIES AVAILABLE TO MORTON AUCTIONEERS & APPRAISERS

If the buyer fails to comply with any applicable terms and conditions herein, MORTON AUCTIONEERS & APPRAISERS may, in its discretion, exercise one or more of the following rights or remedies (in addition to asserting any other rights or remedies available by law):

(a) charge interest at such rate as we shall reasonably select on any amounts unpaid;

(b) hold the defaulting buyer liable for the total purchase price and commence legal proceedings to recover such price together with interest, legal fees and costs to the fullest extent permitted under applicable law;

(c) pay the Consignor an amount up to the net proceeds payable in respect of the amount Bid by the defaulting buyer;

(d) cancel the sale of any Lots sold to the defaulting buyer at the same or any other auction, retaining as liquidated damages any payments made by the buyer;

(e) re-sell the property publicly or privately on such terms MORTON AUCTIONEERS & APPRAISERS sees fit, and the defaulting buyer will be liable for any deficiency, handling charges, expenses, Commissions, incidental damages, and all other costs due hereunder;

(f) reject any Bids made by or on behalf of the buyer at any future auction or require a security deposit from the buyer before accepting any Bids; or

(g) take any other action MORTON AUCTIONEERS & APPRAISERS deems necessary or appropriate.

In addition, the defaulting buyer shall be deemed to have granted and assigned to MORTON AUCTIONEERS & APPRAISERS a continuing security interest of first priority in any property or money of or owing to such buyer in our possession, custody and control. MORTON AUCTIONEERS & APPRAISERS may retain and apply such property or money as collateral security for the buyer?s obligations as provided in these Terms and Conditions. 

MORTON AUCTIONEERS & APPRAISERS shall have all of the rights accorded a secured party under the Texas Business and Commerce Code. Payment will not be deemed to have been made in full until MORTON AUCTIONEERS & APPRAISERS receives good cleared funds. If the buyer fails to pay any or all of the total purchase price for any Lot and MORTON AUCTIONEERS & APPRAISERS nonetheless elects to pay the Consignor any portion of the proceeds, the buyer understands and acknowledges that MORTON AUCTIONEERS & APPRAISERS reserves the right to pursue the buyer for any amounts paid to the Consignor, whether at law, in equity, or under these Terms and Conditions.

15. WAIVER

No waiver or alteration of any of these Terms and Conditions shall be effective unless it is in writing and signed by an authorized representative of MORTON AUCTIONEERS & APPRAISERS.

16. EXTENT OF LIABILITY

The liability of MORTON AUCTIONEERS & APPRAISERS shall not exceed the purchase price actually paid. It is specifically understood and agreed that the cancellation of a sale and the refund of the original purchase price paid (the Hammer Price, plus the Buyer?s Premium) is exclusive and in lieu of any other right or remedy that may otherwise be available to the buyer as a matter of law or in equity. MORTON AUCTIONEERS & APPRAISERS and the Consignor shall not be liable for any incidental or consequential damages incurred or claimed, including without limitation, interest, loss of profits, or legal fees.

MORTON AUCTIONEERS & APPRAISERS shall not be liable for any loss, damage, or expenses associated with or caused by the seizure or forfeiture of any property in our possession, custody or control by any federal, state, local, or customs governmental authority.

17. JURISDICTION

The rights and obligations of the parties with respect to these Terms and Conditions, the conduct of the auction, and any matters in connection with any of the foregoing shall be governed by the laws of the State of Texas. By bidding at auction, whether in person, by agent, or by written, telephone or internet Bid, all prospective bidders and the buyer submit to the exclusive jurisdiction of Texas courts and their rules and procedures in the event of any dispute, and waive any objection to the jurisdiction and venue of any such court.

18. SEVERABILITY

If any part of these Terms and Conditions is found by any court to be invalid, illegal, unconscionable or unenforceable, that part shall be discounted and the balance of the Terms and Conditions shall continue to be valid to the fullest extent permitted by law.

19. NOTICE REGARDING AUCTION IN TEXAS

Notice is hereby provided that this auction is covered by a Recovery Fund administered by the Texas Department of Licensing and Regulation. Any complaints or compliments should be directed to the Texas Department of Licensing and Regulations at P.O. Box 12157, Austin, TX 78711, Tel: 1-800-803-9202 FREE.

20. CAPITALIZED TERMS

The terms defined in the attached glossary will control the meaning ascribed to the capitalized terms in these Terms and Conditions.