Auction Rules and Regulations

Conditions of Purchase
The Philbrook Museum of Art, Inc. (herein “Philbrook”) reserves the right to refuse admission to, or attendance at, any Philbrook Wine Experience event. Persons must be 21 or older to attend any event. The auctioneer is an agent of Philbrook.

These Conditions of Purchase, as amended by any addendum or oral announcements during the auction, constitute the entire terms and conditions with respect to the auction and purchase of wines and items listed herein. By bidding, the bidders agree to be bound by these Conditions of Purchase.

No Representation or Warranty. Philbrook makes no warranty or representation and expressly denies responsibility for, and in no event shall be responsible or liable for, the accuracy of the description, the quantity, aging potential, present and future quality or condition of any of the wines offered in either the silent or live auctions. All statements by Philbrook are merely statements of opinion and are not to be relied upon by prospective purchasers as warranties or representations of fact, and prospective bidders, by so bidding, acknowledge that they have inspected the wines to their satisfaction and bid only as a result of their own inspection and opinion. All wine is sold “AS IS.”

Limitations on Special Events. Scheduling of all trips, dinners, accommodations and/or special events (“Special Events”) are subject to availability and mutual convenience of Philbrook and the bidder. Limitations, restrictions and conditions on Special Events are beyond the control of the Philbrook. The catalogue description of Special Events provides all of the conditions of the Special Event provided by the donor(s) of the Special Event to Philbrook. However, there may be other conditions, restrictions or limitations on the Special Events set by the donor of which Philbrook is not aware and for which Philbrook cannot be responsible. If the bidder does not use the Special Event in the manner and time specified, the Special Event is automatically forfeited and no refund will be made.

Bidding Procedure. All bids in the live auction are per lot as set forth in the catalogue unless otherwise announced by the auctioneer or amended in the addendum. Philbrook may divide or combine any lot at its sole discretion. Philbrook may, at any time prior to the fall of the gavel, withdraw the lot from sale.

Philbrook shall have the right to reject any bid at any time prior to the fall of the gavel or, as to the silent auction, the closing of the bid sheet. Bids will be accepted only from registered bidders. Should a dispute arise between bidders, or should the auctioneer doubt the validity of any bid, the auctioneer shall have the absolute right to resolve the dispute, re-offer, re-sell or withdraw the lot in question. No bid in the live auction shall be valid unless acknowledged by the auctioneer. At the fall of the gavel, the highest bidder shall be deemed to have purchased the lot and thereupon assumes full risk and responsibility therefore.

Patron Vouchers. If you are a Balthazar or Jeroboam Patron, as part of your Patron package, you own what is called a Patron Voucher in the amount specified for your particular patron package. This voucher is the same as cash and can be used to purchase items in the silent or live auction. You will not actually receive a piece of paper denoted as a “voucher.” However, Philbrook will keep the amount of your voucher in its records and will credit the appropriate amount to your purchases at the event. Philbrook reserves the right to determine how to apply the voucher to your purchases in either the silent or live auction up to the amount of the voucher and to do so in any order it deems reasonable. Unused voucher amounts will be considered a deductible charitable contribution to Philbrook. Vouchers may not be used for Philbrook education programs.

Federal Income Tax Information. For federal income tax purposes, Philbrook is recognized as a tax-exempt corporation under the Internal Revenue Code Section 501(c) (3). Bidders may be entitled to deduct a portion of their payments for auction lots as a charitable contribution to the extent that the amount paid for an item exceeds its fair market value. Each bidder should consult his or her tax advisor regarding the deductibility of payments for state and federal income tax purposes.

Payment. Full payment must be made at the conclusion of the auction but no later than midnight on Friday evening, May 2, 2008 and prior to removal of the item. All payments must be made by check or by the following credit cards: MasterCard, VISA, Discover or American Express. A valid credit card may be presented prior to the auction to pre-register payment. The credit card will be charged for the amount of the purchase, unless other methods of payment are presented.

Pick-up or Delivery. All items must be paid for in full prior to lot release. A copy of the paid invoice must be presented before lots can be released. After payment has been made, lots may be picked up at the site at the conclusion of the evening. Arrangements will be made with the purchaser for acceptance of deliveries during the week of May 5, 2008.