PELÉ FEBRUARY 2009, LETTER TO PELÉ FROM PRINCE CHARLES, GREAT BRITAIN

Julien Entertainment.com, Inc. DBA Julien’s Auctions (“we”, “us”, our”, “Julien’s Auctions”) only guarantees the authenticity of attribution of property listed in the catalogue or online for the auction (“Property”, “Lot”) on the basis contained in the terms of guarantee set out below (“Terms of Guarantee”). Except for the limited warranty contained in the Terms of Guarantee and herein all Property is sold “as is,” which for the avoidance of doubt means that the prospective bidders and any successful purchaser of any Property (“Purchaser”, “you”, “your”) are buying any Property in whatever condition it presently exists and that you will accept the item with all faults, whether or not immediately apparent.  We make no express or implied warranties as to title, nor does any consignor, as to the merchantability or fitness for a particular purpose, the correctness of the catalogue or other description of the physical condition, size, quality, rarity, importance, medium, provenance, exhibitions, literature, or historical relevance of any Property.  No oral or written statements made by us in our catalogue, online listing, advertisement, bill of sale, and announcement or elsewhere made by our employees or agents (including affiliated and related companies) shall be considered a warranty if it is not included in the Terms of Guarantee.  We and any consignor make no representations and warranties, express or implied, as to whether a successful purchaser will acquire any copyrights, including but not limited to, any reproduction rights of any Property.  We and the consignor are not responsible and will not be held liable for errors and omissions in the catalogue, online listings, or any other supplemental materials whether implied by the Sale of Goods Act 1979 or otherwise.

It is your responsibility to inspect the relevant Property and/or request a condition report in relation to any Property before bidding, whether in live or online auctions, to determine its condition, size, quality or provenance and to determine if it has been repaired or restored.  Please email info@juliensauctions.com for a condition report at least 14 days before the date of the proposed auction sale.  Any request for a condition report after such date will be supplied at our discretion.  

We will not be liable (whether in negligence, other tort, breach of contract or statutory duty or in restitution or under the Misrepresentation Act 1967, or in any other way) for any lack of conformity with, or inaccuracy, error, misdescription, or omission in any description of any Property (whether in writing, including in the catalogue, or on any website, or orally, or by conduct or otherwise) and whether made before or after this agreement or prior to or during the auction sale.

An additional fee (“Buyer’s Premium”) will be added to the Purchaser’s successful hammer price and is payable by the Purchaser to Julien’s Auctions as part of the total Purchase Price, as defined below.  By making a bid, you acknowledge and agree that the Buyer’s Premium is payable to Julien’s Auctions in addition to the hammer price and will be calculated by reference to the successful hammer price as follows:

(i)           for each individual Lot sold for a hammer price of GBP£0 to GBP£200,000, the Buyer’s Premium will be equivalent to twenty five per cent (25%) of the hammer price, subject to a minimum Buyer’s Premium of GBP£25 per individual Lot.

(ii)          for each individual Lot sold for a hammer price above GBP£200,000, the Buyer’s Premium will be twenty five per cent (25%) up to the initial GBP£200,000 and twenty per cent (20%) of the hammer price of amounts in excess of GBP£200,000.  For the sake of clarity, by way of example, for a Property sold with a hammer price of GBP£350,000, the Buyer’s Premium will be calculated as follows: (i) 25% of the first GBP£200,000 (being GBP£50,000) plus (ii) an extra 20% of the balance of GBP£150,000 (being GBP£30,000), for a  total Buyer’s Premium due from the Purchaser of GBP£80,000, in addition to the hammer price of GBP£350,000.  

In addition to the Buyer’s Premium, in respect of any Lot successfully purchased online by bidding via the internet at our website www.julienslive.com, there will be an additional premium of 3% of the hammer price (“Online Fee”) payable to us.

All fees, commissions, premiums, payments whatsoever to be paid by you are where appropriate exclusive of Value Added Tax or equivalent (“VAT”). In some circumstances VAT and / or custom / import duties / fees / penalties may be applicable and payable to us by any Purchaser in addition to the hammer price and other relevant charges, including the Buyer’s Premium and Online Fee.

Advice should be sought by any Purchaser from an adviser experienced in VAT and / or custom / import duties / fees / penalties before committing to a bid and /or attempting to purchase any Property at the auction. For the avoidance of doubt:-

(i)            The hammer price is net of VAT and / or custom / import duties / fees / penalties;

(ii)                 The Buyer’s Premium is net of VAT and / or custom / import duties / fees / penalties;

(iii)                The Online Fee is net of VAT and / or custom / import duties / fees / penalties; and

(iv)         Any Purchaser must indemnify us and the consignor against any VAT or customs / import duties relating to the Property in addition to paying us the full hammer price, Buyer’s Premium and Online Fee, if applicable.

You further acknowledge that you are solely responsible to pay us the aggregate of the hammer price, the Buyer’s Premium, plus any Online Fee and VAT and sales tax if applicable, for such Lot(s). “Purchase Price” in these terms and condition means the price payable by you to us for any Property where you are the successful bidder and includes the hammer price, Buyer’s Premium, Online Fee (if any) and other payments due to us including but not limited to VAT and custom / import duties / fees / penalties.  All our invoices for the aforementioned total payments due must be paid within 10 calendar days after the close of the auction (“Deadline”), unless agreed to by us in writing prior to the auction.  You also authorize us to charge your credit or debit card provided by you to us at registration for all payments due to us if not paid in full by you within the Deadline.  In the event we have agreed in writing prior to the auction to provide you with different payment terms to those set out herein or an extended period of time for payment, then you hereby acknowledge and agree that you shall have no right, title, or interest in and to the relevant Property successfully bid by you until all amounts due from you are paid in full to us.  If you fail to comply with the terms of payment, we shall have the unequivocal right, at our sole discretion, to sell some or all of the relevant Property and to apply the proceeds of sale toward the balance of any monies owed (“Debt”) by you to us.  If the monies received through the sale of the relevant Property does not pay the Debt in full or no such sale of relevant Property takes place, we shall have the right to pursue any and all remedies available to recover the Debt (or the balance thereof) from you including, but not limited to, court proceedings which will include a claim for legal fees of taking such enforcement action.  If the monies received by us through the sale of the relevant Property exceeds the Debt and the related fees or legal costs incurred by us in connection with and arising out of such sale, then the balance shall be refunded to you.

Payments: Cheques should be made payable to “Julien's Auctions.”  Our invoices will include the Buyer’s Premium, the Online Fee (if applicable) and any applicable VAT and sales tax.  We accept wire transfer, cashier’s cheques, personal cheques, MasterCard, American Express, and Visa.  Auction items picked up in California and all California and New York residents will be charged sales tax.  Processing fees for credit card payments may apply.  Invoices under GBP£5,000 will be charged automatically to your credit or debit card on file unless prior arrangements are made.

Shipping:  Shipping is not included in the Purchase Price of your auction item(s).  Shipping for all Property has been contracted by us to Hedley’s Fine Art in London. All Property will be shipped to you from the UK by Hedley’s Fine Art, subject to you paying their fees and the full Purchase Price. After you have paid for the Property through Julien’s Auctions, you must contact Hedley’s Fine Art to coordinate the shipping of such Property to you. All shipping enquiries can be directed to Hedley’s Fine Art (juliensauctions@hedleysfineart.com ). Hedley’s Fine Art accepts payment by cheque, bank transfer, any major credit cards (handling fee applicable). Please allow 2-12 weeks for the delivery of your Property depending on the size of the auction, your destination, or the mode of transport. All Property is shipped at the Purchaser’s expense. Courtesy to all our clients, 30 days free storage is offered by Hedleys Fine Art. Hedleys Fine Art charge GBP£5 per Lot, per day after such 30 day period, unless prior arrangements are made. We and Hedley’s Fine Art will not falsify or claim a lower value on customs documents. We and Hedley’s Fine Art are not responsible if there is any delay delivery of Property to you caused by customs. We and Hedley’s Fine Art are not responsible for returned shipments/Property. You are responsible for all shipping fees including duties, taxes, VAT, customs, and other unforeseen charges. You agree that we will not be responsible for shipping Property after the auction and you will deal directly with Hedley’s Fine Art.

This auction includes paintings and photographs to be sold as works of art and all the other Lots are offered as collector’s pieces of historical interest

Purchasers must all be over 18.

Bidder registration prior to the auction is required for all Purchasers wishing to bid for Property at our auctions.  Any such person or entity registering to bid by phone, absentee, or in person must complete a Bidder Registration Form. Online bidders must submit such a completed form through www.julienslive.com.  First-time Purchasers and bidders who have not purchased from us previously are required to fax or email a certified copy of his/her (i) photo identification (driver’s license/passport) and (ii) proof of home address which is not more than 3 months old (utility bill/bank statement) to 001 310-388-0207 undefined or hillary@juliensauctions.com prior to being approved for bidding.  Failure to do this may block your ability to bid and /or your rights to purchase any Property. 

By signing these terms you agree and understand that we will automatically charge the credit or debit card provided on your bidder registration form the amount of Five Thousand Pounds (GBP£5,000) as a security deposit if you are the successful bidder on any Property at the auction with a hammer price of GBP£5,000 or more.  At your option, upon prior written notice to us, this security deposit can either be credited on our final invoice or refunded to your credit or debit card once payment in full of the invoice is made by you.  You agree not to challenge or contest the security deposit charged to your credit or debit card and that such payment is expressly authorized by you. 

Unless otherwise stated, all Property is offered for sale, subject to a reserve that is no higher than the low presale estimate. The reserve is the confidential minimum hammer price acceptable to the consignor.  During a live auction the auctioneer may open any Lot by bidding on behalf of the consignor and may bid up to the amount of the reserve, by placing successive or consecutive bids for a Lot or bids in response to other bidders.  Online sales may do the same by employing the use of a starting bid which will commence bidding at or below the reserve agreed to by the consignor.

We reserve the right to withdraw any Property from the auction before the completion of the sale of the relevant Property and we will have no liability for doing so.

We reserve the right to accept or decline any bid(s) made by you.  Bids must be for an entire Lot and each Lot constitutes a separate sale. All bids are per Lot unless otherwise announced at a live sale by the auctioneer.  Live auction Lots will be sold in their numbered sequence unless the Auctioneer directs otherwise.  It is unlawful and illegal for bidders to collude, pool, or agree with another bidder to pay less than the fair value for Lot(s) or to distort competition or to abstain from bidding in return for a reward.  Purchasers participating in both live and online auctions acknowledge that the law provides for substantial penalties for those who violate these provisions.  For live auctions, the auctioneer will have final discretion in the event that any dispute should arise between bidders. The auctioneer will determine the successful bidder, cancel the sale, or re-offer for sale the Lot or Lots in dispute. We will have final discretion to resolve any disputes arising after the sale and in online auctions.  If any dispute arises, our sale record is conclusive.  We will execute order or absentee bids, and accept telephone bids as a courtesy to Purchasers who are unable to attend the live auctions, however we take no responsibility for any errors or omissions in connection with this service.

The catalogue descriptions are written in English.  The auction will also be conducted in English.  Any translation, using Google Translate or any other online translation program, should be used as a guide only.  The accuracy of online translation services cannot be guaranteed.  Use with caution and at your own risk.

Where we obtain any personal information about you, we shall only use it in accordance with the terms of our Privacy Policy (subject to any additional specific consent(s) you may have given at the time your information was disclosed).  A copy of our Privacy Policy can be requested by post from Julien’s Auctions, 3327 La Cienega Place, Los Angeles, CA 90016 or by email from info@juliensauctions.com.

Subject to fulfillment of all of the conditions set forth herein including the payment terms set out above, on the fall of the auctioneer's hammer, the offered Lot will pass to the highest bidder acknowledged by us, and if successful, you thereupon (a) assume full risk and responsibility (including without limitation, liability for or damage to frames or glass covering prints, paintings, photos, or other works), and (b) will immediately pay the full Purchase Price or such part as we may require.  All sales are final. In addition to other remedies available to us by law, we reserve the right to impose from the Deadline a late charge of 1 ½% per month of the total Purchase Price if payment is not made in accordance with the conditions set forth herein.

Copyright Notice: You will not acquire any copyright or similar right whatsoever to any Property (including but not limited to images or likenesses contained in photographs of any individuals living or dead).  You may not in any way reproduce, distribute, publically display, perform or create derivative works of the Property or otherwise exploit the copyright embodied in the Property or cause anyone else to, without the express prior written consent of Pelé and his successors and / or any other copyright owners (including but not limited to photographers) who retain such rights.

If any applicable conditions herein are not complied with by you, then you will be in default and in addition to any and all other remedies available to us and the consignor by law, including, without limitation, the right to hold you liable for the total Purchase Price, the Buyer’s Premium, and Online Fee including but not limited to all fees, charges, duties and other expenses, we, at our option, may (a) cancel the sale of Property, or any other Lots sold to you at the same or any other auction, retaining as liquidated damages all payments made by you, or (b) resell the relevant Property, whether at public auction or by private sale, or (c) effect any combination thereof. In any case, the Purchaser will be liable for any deficiency, any and all costs, handling charges, late charges, expenses of both sales, our commissions on both sales at our regular rates, legal fees and expenses, collection fees and incidental damages. We may, in our sole discretion, apply any proceeds of sale then due or thereafter becoming due to the Purchaser from us or any affiliated company, or any payment made by the Purchaser to us or any affiliated company, whether or not intended to reduce the Purchaser's obligations with respect to the unpaid Lot or Lots, to the deficiency and any other amounts due to us or any affiliated companies.  In addition, a defaulting Purchaser will be deemed to have granted and assigned to us and our affiliated companies, a continuing security interest of first priority in any property or money of our owing to such Purchaser in our possession or in the possession of any of our affiliated companies, and we may retain and apply such Property or money as collateral security for the obligations due to us or to any affiliated company of ours.  Payment will not be deemed to have been made in full until we have collected good funds.  In the event the Purchaser fails to pay any or all of the total Purchase Price for any Lot and we elect to pay the consignor any portion of the sale proceeds, the Purchaser acknowledges that we shall have all of the rights of the consignor to pursue the Purchaser for any amounts paid to the consignor, whether at law, in equity, or under these terms and conditions of sale.

Under no circumstance will we incur liability to a Purchaser in excess of the Purchase Price actually paid.

The terms and conditions described herein and all aspects of matters, transactions or disputes to which they relate (including online bids) shall be governed and interpreted in accordance with English Law.

For our benefit, the consignor and all Purchasers agree that subject to the arbitrations provisions set out below, the Courts of California are to have exclusive jurisdiction to settle all disputes arising in connection with all matters or transactions to which these terms and conditions relate.

Any claim or controversy arising out of or relating to these terms and conditions, the auction, the Bidder Registration Form or any breach thereof between the Purchaser and Julien’s Auctions shall be submitted to arbitration in Los Angeles County, California before an arbitrator from the Judicial Arbitration and Mediation Services, Inc. (“JAMS”) and conducted under its Comprehensive Arbitration Rules, as the exclusive remedy for such claim or controversy. Both you and we further agree that the arbitration shall be conducted before a single JAMS arbitrator who is a retired California or federal judge or justice.  By agreeing to arbitrate, the parties waive any right they have to a court or jury trial.  The decision of the arbitrator shall be final and binding.  You and we further agree that, upon application of the prevailing party, any Judge of the Superior Court of the State of California, for the County of Los Angeles, may enter a judgment based on the final arbitration award issued by the JAMS arbitrator, and you and we expressly agree to submit to the jurisdiction of this Court for such a purpose.  The prevailing party shall be entitled to recover the other party’s attorneys’ fees and costs incurred in connection with the arbitration.

Notwithstanding the foregoing, Julien’s Auctions reserve the right to bring legal proceedings in a jurisdiction other than the State of California.

If any provision or part-provision of these terms and conditions is or becomes invalid, illegal or unenforceable, it shall be deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If such modification is not possible, the relevant provision or part-provision shall be deemed deleted.  Any modification to or deletion of a provision or part-provision under this paragraph shall not affect the validity and enforceability of the rest of this agreement.

TERMS OF GUARANTEE 

“Attribution” is defined by Julien's Auctions as the creator, period, culture, source of origin, as the case may be as set forth in the bold type heading of a Lot in a live auction catalogue or the Lot title of an online auction, as amended by any oral or written salesroom notices and announcements or online notices and announcements. We make no warranties to information not contained in an online Lot heading or information not contained in the Bold Type Heading of any live auction catalogue subject to the exclusions listed below.

Julien's Auctions warrants the Attribution, as defined above and subject to the exclusions listed below, of a Lot for a period of one (1) year from the date of sale and only to the original Purchaser on record at the auction. If it is determined to our satisfaction (acting reasonably) that the Attribution is incorrect, the sale will be rescinded if the relevant Lot is returned to our warehouse facility in the same condition in which it was at the time of sale. In order to satisfy us that the Attribution of a Lot is indeed incorrect we reserve the right to require you to obtain, at your expense, the opinion of two experts in the field acceptable to us, before we agree to rescind the contract for sale. These terms are not assignable and are personal to you – they apply only to you the original Purchaser on record with us. No warranties transfer to any subsequent owners of any purchased Property (this includes without limitation, heirs, successors, beneficiaries, licensees or assigns).

Should any contract for sale be rescinded and the Purchase Price repaid to you (i.e. final successful hammer price, plus the Buyer’s Premium plus any other relevant costs), it is specifically understood that this will be your sole remedy against us.

Exclusions will be made and all warranties do not apply to Attribution which on the date of sale were in accordance with the then generally accepted opinion of scholars and specialists, or the identification of periods or dates of execution which may be proven inaccurate by means of scientific processes not generally accepted for use until after publication of the catalogue or listing online, or which were unreasonably expensive or impractical to employ.