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Upcoming Auction Schedule

December  15 & 16, 2008
Monday & Tuesday
Our Annual Holiday Auction
Featuring Firearms, Coins, Jewelry, & Collectables



All To Be Held At :
pheonix club
1340 S. Sanderson Ave.
Anaheim, CA. 92806
(714) 563-4164


 
Terms & Conditions of Sale

To print the Terms & Conditions Click here (pdf)

1. Each item in this auction will be offered in numerical order and sold to the highest bidder (buyer). All sales are final. There will be no refunds and no exchanges. Buyers are commanded to inspect lots and find that they are to their satisfaction before bidding. Little John’s Auction Service (Little John’s) is not responsible for any errors of the buyer, including, but not limited to, the buyer bidding on the wrong item.

2. The payment terms for any purchase of any item offered in this auction will be cash, credit card, or verified funds. Any other arrangements to pay for a purchase must be specifically made in advance of the sale with Little John’s. Payment on ALL purchases is due on the day of the sale.

3. Buyers are required to pay all local and state sales tax. Delivery of purchased items outside the state may be subject to the compensating use tax of another state. Where a collection of duty is imposed upon Little John’s, Little John’s will require payment by the buyer of all such taxes prior to the delivery of the purchased items.

4. If buyer should default and/or breach any of the Terms and Conditions of Sale, Little John’s, at its option, will hold the buyer liable for the full amount of the bid, plus the buyer’s premium, and all costs, attorney’s fees and consequential damages. Little John’s will resell the property with notice to the buyer as to the payment of any deficiency that is due by the buyer which include all costs, warehousing fees, expenses of both sales, Little John’s commission at its regular rates, and all consequential damages, including, but not limited to, any and all attorney’s fees and costs.

5. All post-1898 firearms are registerable and must be registered in compliance with the Federal and California State Law. Buyers of post-1898 firearms must complete state and federal registration at Little John’s Antique Arms, Inc., 1740 West La Veta Avenue, Orange, California 92868 (714) 939-1170, unless otherwise specified. A ten (10) day wait is mandatory for modern handguns. Dealers must have in their possession on the day of the sale all proper paperwork and a signed copy of their Federal Firearms License in order to accept same-day delivery of modern weapons. After registration, all firearms must be picked up within thirty (30) days or they are required to be re-registered.

6. All items of the auction are sold as is and where is without any warranty and/or guarantee by Little John’s whatsoever. No guarantee and no warranty whatsoever as to the operation or firing condition of any weapon offered for sale is made by Little John’s. It is recommended that all weapons bought at auction be checked out by a competent gunsmith prior to attempting to fire them. All lots are sold as collector’s items only. No guarantee whatsoever or warranty whatsoever on any lot is made by the auctioneer.

7. Effective January 2, 2002, the Department of Justice (DOJ) requires that all modern firearms (Post 1898) delivered from a California licensed firearms dealer are to include or be accompanied by a DOJ certified firearms safety device. Persons who own acceptable gun safes can comply upon completion of an affidavit of ownership.

8. The purchase price payable by a buyer shall be the sum of the final bid plus a 12% Buyer’s Premium of the final bid.

9. Little John’s warrants the accuracy of the catalog descriptions originated by John R. Gangel. Little John’s does not guarantee or warrant the condition, rarity, provenance, or historical relevance of any catalog items, since such statements are only qualified statements of opinion and thus are speculative in nature. Legitimate restoration, meaning items restored to their original state, will be sold as original. Little John’s will refund the purchase price of any item deemed not to be authentic within 60 days of purchase. To affect a refund on any item found not to be authentic, buyer must present Little John’s with a letter of appraisal by a qualified expert, and said item must be returned to Little John’s in the same condition as it was when it was sold to buyer at auction. Buyer must present a specific detailed appraisal before refund is requested. As to all lots, internal parts of any firearm are NOT examined and are NOT warranted and NOT guaranteed.

10. Little John’s will arrange packaging of purchased items through outside agents or interior staff. A fee will be charged to the purchasing buyer in the sum of $35.00 per gun which is to be paid to Little John’s for arranging packaging and shipping of the buyer’s purchased items. This process may require up to six (6) weeks to adequately pack and ship the buyer’s purchased items. The buyer agrees to indemnify and hold Little John’s harmless from any loss resulting from the packaging and/or shipping process. Hard cases are available for the packaging and shipping of firearms at a cost of $60.00 per hard case.

11. The shipping of any purchased items outside of the United States is hereby classified as “foreign export”. All foreign export is the sole responsibility of the purchasing buyer.

12. All lots will be sold at the Auctioneer’s discretion. The Auctioneer will exercise his discretion by calling an opening bid. If no reasonable bid is accepted, the item will be passed. No reserve will be allowed on any item higher than the low estimate of the items value as determined by the Auctioneer.

13. Buyer and Little John’s agree to mediate any dispute or claim arising between them out of this auction or any resulting transaction, before resorting to arbitration or court action. Mediation fees, if any, shall be divided equally between the parties involved. If, for any dispute or claim to which this paragraph applies, any party commences an action without first attempting to resolve the matter through Mediation or refuses to mediate after a request has been made, then that party shall not be entitled to recover attorney’s fees, even if they would otherwise be available to that party in any such action. This Mediation provision applies whether or not the Arbitration provision is initialed. Buyer and Little John’s agree that any dispute or claim in law or equity arising between them out of this auction or any resulting transaction, which is not settled through Mediation, shall be decided by a Neutral binding Arbitration before the Judicial Arbitration and Mediation Service, Orange County, California. The Arbitrator shall be a retired judge or justice, unless the parties mutually agree to a different Arbitrator, who shall render an award in accordance with the substantive California law. The parties shall have the right to discovery in accordance with Code of Civil Procedure Section 1283.05. In all other respects the Arbitration shall be conducted in accordance with Title Nine of Part Three of the California Code of Civil Procedure.

“NOTICE: You are agreeing to have any dispute arising out of this auction decided by a neutral Arbitration as provided by California Law and you are giving up any rights you might possess to have the dispute litigated in a court or jury trial. You are giving up your judicial right to appeal. If you refuse to submit to Arbitration after agreeing to this provision, you may be compelled to Arbitrate under the authority of the California Code of Civil Procedure. Your agreement to this Arbitration provision is voluntary.”

“I, the buyer, have read and understand the above paragraph and agree to submit all disputes arising out of the auction to first Mediation and if that is not successful in resolving the matter, then to Arbitration with the Arbitration of disputes resolved in accordance with Title Nine of Part Three of the California Code of Civil Procedure.”

14. On Site Bidding
Bidders are registered prior to auction and each is issued a bidder card. Acceptance of the bidder card is also acceptance of all Terms and Conditions of Sale. The bidder card is held up to signify a bid. Each lot will be identified and physically carried throughout the bidding audience. Each bidder should decide in advance the maximum amount they wish to bid. When bidding starts, leave your bidding card up until your bid wins or your maximum amount is reached. The advantage in leaving your card up is: if the final bid is your limit, you will prevail as opposed to another bidder who also has the same maximum limit but did not raise their card in time. Do not bid on unwanted lots you are not satisfied with. Buyers are commanded to inspect lots and find that they are to their satisfaction before bidding.

15. Sealed Bids
If you are unable to attend the auction, you may submit a signed sealed bid not less than 24 hours prior to the auction. An auction staff member will then bid on your behalf and the bidding proceeds as if you were in attendance. The staff person will try to secure the lot with the lowest possible bid. Located in the back of the auction catalogue, you will find a sealed bid form complete with instructions. By your submitting to Little John’s a signed sealed bid signifies your agreement to be bound by the Terms and Conditions of Sale as stated in this catalogue and as stated in the sealed bid form. Sealed bids will not be processed by Little John’s without a deposit or prior credit approval. All sealed bids must be signed by the bidder before they will be processed by Little John’s bids.

16. Telephone Bids
Bidding by telephone in a Little John’s auction is available for qualified buyers. This type of bidding requires Little John’s receiving a signed telephone bid form no less than 24 hours prior to the auction and a deposit on the items to be bid or prior credit approval by Little John’s. Once the telephone bid form has been approved, the bidder will be telephoned on the day of the auction at the time the lot(s) that the bidder has arranged to bid on comes up for auction. All telephone bidders agree to be bound by all of the Terms and Conditions of Sale as stated in the catalogue as well as all Terms and Conditions of Sale as stated on their signed telephone bid form.

17. All sealed bidders and all telephone bidders agree not to hold Little John’s responsible for any errors or omissions of any kind that may occur during the bidders sealed and/or telephone bid process. All sealed bidders and telephone bidders agree to indemnify and hold Little John’s harmless from any loss, damage, error and/or omissions that occur during the auction. All bidders acknowledge and agree that Little John’s is to execute all bids on a best efforts basis and that there is no warranty and/or guarantee of any kind as tot he success and/or failure of any bids placed in the auction. Successful bidders will be notified and invoiced within 72 hours or less of their successful bids and are required to pay in full the amounts due and owing Little John’s within 72 hours of receiving notification of their successful bid. Credit card payments are acceptable including Visa MasterCard, American Express, and Discover Card.

All text in this catalogue is copyrighted and cannot be reproduced without specific permission of Little John’s Auction Service, a division of Little John’s Antique Arms, Inc.


Comparing Costs And Auctioneers

1. How much does an Auctioneer spend on production of his catalog, advertising, and mailing list?

The higher expenditure by the Auctioneers, the better the return for the consignor. Many auction houses produce cheap digital catalogs that cost $12,000 for a quantity of 3000. A catalog that costs $90,000 per 3000 will represent your collection better and result in higher dollar returns.

2. What are the total charges?

Buyers bid less when they are paying a high Buyer’s Premium and incidental charges such as shipping, crating or wrapping, credit card fees, or outside pick-up fees. There are professional buyers who reduce their bids 20% in order to cover Buyer’s Premium, shipping and other charges. Little John’s still charges only 12% Buyer’s Premium, the lowest of any major firearms auctioneer.

3. Does the auction house advertise nationally and on a regular basis, and for how long?

General Motors still spends a fortune on name recognition, even though they are the best known of all car companies. After 30 years of advertising on a monthly basis in major arms magazines, we still find new buyers.

4. How large is the Auctioneer’s mailing list, and how many people on that list has the Auctioneer actually done business with?

We have over 16,000 active buyers on our list.

5. What are the hidden, undisclosed, or incidental charges?

Add the commission to the seller/buyer fees, charges and incidental fees, and that is the actual cost of sale to the seller. For example:

Commission to Seller - 12%:

Other Auctioneers charge for insurance 1-1/2% of the hammer price (not on the estimates). For example, a lot estimated at $30,000-$40,000 sold for $231,000. The cost of insurance to the seller would be $3,465!! Even though it was only insured at 70% of the low estimate, or $21,000, and the cost to the auctioneer for three months on a rider would be $50 or less. LITTLE JOHN’S CHARGES -0- FOR INSURANCE.

Photography & catalog fees can average 1%-3%+. LITTLE JOHN’S CHARGES -0-. Pick-up can average 1%-3%. LITTLE JOHN’S CHARGES -0-.

Auction Appraisals can average 1%-3% (often refunded on sale). LITTLE JOHN’S CHARGE -0-.

Credit card fees: Some Auctioneers charge higher Buyer Premium or won’t take cards. Bidders bid less. Est. 1%-2% less possibly 5%. LITTLE JOHN’S TAKES CREDIT CARDS AND ABSORBS THE CHARGES. THE BUYER PAYS -0-.

10% can become 15-1/2 to 20% quickly as seller’s charges. Add 20% to a 15% average Buyer’s Premium and the total is a staggering 35% that looked like 10% to the consignor who is unknowledgeable. Little John’s 12% IS 12%. (12% is still our standard commission of $100,000 or over.)

6. Last and by far not least, rate the Auctioneer’s ability and competence. There are Auctioneers who regularly can achieve 5%-20% higher sales prices through skill, experience and knowing how to glean the last few bids. This is mostly achieved by trust. The buyers will pay more to an Auctioneer they know, trust, and whose expertise they respect.

“A GREAT AUCTIONEER IS THREE BIDS BETTER THAN A GOOD ONE.” Those three bids will more than pay the seller’s commission.

Ask a professional dealer who attends auctions who they rate highest as an Auctioneer, and then ask other Auctioneers.

 


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