Conditions of sale
Buyer’s premiums
- Third-party online platforms (Invaluable / AuctionZip): 23% buyer’s premium.
- Online bidding (EJS app or website): 18% buyer’s premium.
- In-house live bidding: 18% buyer’s premium.
- In-house absentee bids: 18% buyer’s premium.
- Phone bidder: 18% buyer’s premium.
Auction terms & conditions of sale
Asset: The Boot of Cortez
These Terms & Conditions of Sale (“Terms”) govern participation in the auction conducted by EJ’s Auction & Appraisal (“Auction Company”) for the sale of the asset known as the “Boot of Cortez” (the “Asset”).
By registering, bidding, or participating in the auction, each bidder (“Bidder”) agrees to be legally bound by these Terms.
1. Auction format & authority
The auction is conducted by EJ’s Auction & Appraisal as agent for the seller.
Auction Company reserves the absolute right to:
- Refuse admission or participation to any person
- Reject, withdraw, or re-open bidding at its discretion
- Modify bidding increments
- Cancel or postpone the auction
All decisions by Auction Company are final and binding.
2. Bidder qualification
All bidders must be pre-approved in accordance with the Bidder Registration, Qualification, and Auction Participation Screening process. To complete registration, each bidder is required to submit a refundable deposit of $100,000 via wire transfer.
The auction company will not accept deposits until the bidder has successfully completed the registration and screening process and has received formal approval. All deposits must be received by the auction company no later than sixty (60) hours prior to the auction event.
For the winning bidder, the deposit will be applied toward the final invoice. Deposits submitted by non-winning bidders will be returned via wire transfer within five (5) business days following the conclusion of the auction.
Failure by a bidder to complete payment for a winning bid constitutes a breach of the auction terms and will result in forfeiture of the deposit. Such forfeiture does not release the bidder from any additional financial obligations, nor does it waive any legal fees or remedies arising from the bidder’s failure to complete the transaction.
3. As-is, where-is sale
The Asset is sold “AS IS, WHERE IS, WITH ALL FAULTS”, without any warranties, express or implied.
This includes, but is not limited to:
- Merchantability
- Fitness for a particular purpose
- Authenticity (unless explicitly stated in writing)
- Condition, weight, or valuation
Bidder acknowledges:
- They have conducted their own due diligence
- They are not relying on any statements outside written materials
4. Inspection & due diligence
Bidders are solely responsible for:
- Inspecting the Asset (if available)
- Verifying all information independently
Failure to inspect does not relieve Bidder of obligations.
5. Bidding process
- All bids are irrevocable once placed
- Auction Company may accept or reject any bid
- In the event of a dispute, Auction Company has sole authority to determine the winning bid
Auction Company may:
- Reopen bidding
- Declare a tie resolved at its discretion
6. Reserve price
The Asset may be subject to a confidential reserve price.
Auction Company may:
- Bid on behalf of the seller up to the reserve
- Withdraw the Asset if reserve is not met
7. Buyer’s premium
A Buyer’s Premium of eighteen percent (18%) shall be added to the final hammer price.
Total purchase price = hammer price + 18% buyer’s premium + applicable taxes and fees
This premium is mandatory and non-negotiable.
8. Payment terms
The successful bidder (“Buyer”) shall:
- Pay the full purchase price within 3–5 business days
- Payment must be made via wire transfer ONLY
No credit, financing, or contingencies are permitted unless pre-approved in writing.
9. Failure to pay / default
If Buyer fails to complete payment:
- Deposit shall be forfeited
-
Auction Company may:
- Resell the Asset
- Recover damages
- Pursue legal action
- Recover legal fees
Buyer remains liable for any deficiency upon resale.
10. Title & risk of loss
- Title transfers only upon full payment clearance
- Risk of loss transfers upon title transfer or possession
Auction Company is not responsible for loss after transfer.
11. Removal / delivery
Buyer is responsible for:
- Transportation, shipping, and insurance
- Removal within timelines set by Auction Company
Failure may result in storage fees or forfeiture risks.
12. Taxes & fees
Buyer is responsible for all applicable taxes, duties, and fees unless exemption documentation is provided.
13. Compliance & legal requirements
Buyer must comply with all applicable laws and regulations. Auction Company may refuse to complete a transaction if compliance concerns arise.
14. Non-circumvention
Bidder shall not bypass Auction Company or deal directly with seller. Violation may result in disqualification, legal action, and financial penalties.
15. Limitation of liability
Auction Company shall not be liable for indirect or consequential damages. Maximum liability shall not exceed the Buyer’s Premium paid.
16. Disputes & governing law
These Terms shall be governed by the laws of the State of Arizona. All disputes shall be resolved exclusively in Maricopa County, Arizona.
17. Entire agreement
These Terms, together with the Bidder Agreement, constitute the entire agreement.
18. Acceptance of terms
Participation constitutes full acceptance of these Terms.
19. Registration deadline
All bidders must complete the registration process no later than sixty (60) hours prior to the scheduled auction. The final deadline for registration is June 8th at 5:00 PM Pacific Time.
All required documentation, including but not limited to the Bidder Approval Questionnaire, must be fully completed and submitted by such deadline. No bidder approvals shall be granted on the day of the auction.
Shipping terms
No shipping available.