Rules for Legendary Auctions Online Catalog Auctions

Please note: These rules are binding and supercede any other version of auction rules, printed or otherwise, for all Legendary Auctions.

 

Buyer's Premium:
Please remember there is a 19.5% Buyer's Premium. For example, should you win a lot for $1000, your actual cost will be $1195 (plus shipping, insurance and tax, if applicable). This 19.5% Buyer’s Premium will be in place for all catalog and live auctions, effective immediately.


A Word About Starting Bids:

Legendary Auctions believes a good auction features quality material and reasonable starting bids. The vast majority of the minimum bids in our auctions are extremely low. Most represent somewhere between 10% and 50% of a fair value. Many minimum bids might be best described as nominal. The purpose of the minimums in all Legendary Auctions is simply: 1) To limit inquiries to those bidders who are sincerely interested in a given item; and 2) To ensure that (virtually) all lots will be sold.


The 30 Minute Rule - How Internet/Phone Auctions End:

You must place an initial bid on an item before 9:00 PM Central Time on auction closing day to be eligible to bid on that item during the extended bidding period that starts at 10:00 PM. If you are the only bidder on a given lot at 9:00 PM then that lot is automatically closed out and you are declared the winner. At 10:00 PM Central Time, the 30 Minute Rule starts and EACH lot will close individually after that lot goes 30 minutes with no new bids. Whenever a new bid is placed, the 30-minute timer will be reset and the countdown will restart. If you are the current high bidder on a lot and you change your ceiling bid after 10:00 PM, this will not extend the bidding time, only a bid placed by another bidder or a higher "straight bid" placed by the current high bidder will reset the ending time on that lot. This rule provides all bidders the opportunity to bid on the lots they are eligible to bid on without getting "sniped" due to time constraints.


Payment Of Invoices:

On the Friday following the auction invoices will be sent to all winning bidders by US Mail. Invoices will also be sent by email, to winning bidders who have an email address on file, unless you request not to receive invoices via email. Please do not call or email our office regarding invoices prior to this date. Please remember that all invoices must be paid within two weeks of the invoice date. This term of sale is very important as prompt payment of auction invoices is essential both to an orderly reconciliation of the auction and timely consignor payments. Please call to prearrange any other type of payment. Any bidder who has not paid in full without having made prior arrangements for late payment will have future bidding privileges revoked. We accept personal checks. Checks are held until funds are collected which can take up to 10 business days; it generally take 5-7 business days after funds have been collected before shipment will occur. We also accept cashier’s checks, certified checks, money orders or wire transfers . These forms of payment are registered immediately and shipment of items occurs up to 5-7 days after posting. We thank you in advance for your cooperation. No Credit Cards or PayPal Accepted For Payment. We reserve the right to charge interest on past due unpaid balances at 1.5% per month until paid. 


Click here to download wiring instructions for wire transfers.

Bidder Registration

If you are not currently a registered Legendary Auctions bidder and wish to register, CLICK HERE or call (708) 889-9380. Also, for any questions, you can always e-mail customerservice@legendaryauctions.com.

Terms and Conditions of Sale

1. Items are sold to the highest bidder.

2. For all Internet/Phone auctions, you must place an initial bid on an item before 9:00 PM Central Time on auction closing day to be eligible to bid on that item during the extended bidding period that starts at 10:00 PM. If you are the only bidder on a given lot at 9:00 PM then that lot is automatically closed out and you are declared the winner. At 10:00 PM Central Time, the 30 Minute Rule starts and EACH lot will close individually after that lot goes 30 minutes with no new bids. Whenever a new bid is placed, the 30-minute timer will be reset and the 30 minute countdown will restart. If you are the current high bidder on a lot and you change your ceiling bid after 10:00 PM, this will not extend the bidding time, only a bid placed by another bidder or a higher "straight bid" placed by the current high bidder will reset the ending time on that lot. This rule provides all bidders the opportunity to bid on the lots they are eligible to bid on without getting "sniped" due to time constraints.


For all Live Auction Events
, you may place an initial proxy bid on an item before 6 PM Central Time on the day before the Live Event to be eligible to have your bid executed by the auctioneer at the Live Event. Proxy bids may be placed via internet at legendaryauctions.com or via phone by calling (708) 889-9380. Bidding at the Live Event is at the discretion of the auctioneer. All bidding decisions made by the auctioneer are final. Bids at the Live Event will be recognized only by the auctioneer or other designated Legendary Auctions employees. Traditional auction paddles will be emloyed by prospective bidders for recognition of bids. Bidders alone are solely responsible for any and all bids on their paddle recognized by the auctioneer or other Legendary Auctions employees.


3. All bidders must register to obtain an account one day prior to the closing date of the auction to be eligible to bid in the current auction. Once you obtain a Username and Password, these will be your Username and Password for all future Legendary Auctions, unless you change them. If you have bid with us before and cannot remember your bidder number, username or password or are not sure if you have an account with us, please email customerservice@legendaryauctions.com to find out.

4. All new registrants will need 2 hobby references. These references will be checked. Absolutely no registration will take place the day of the auction. No exceptions can be made. We reserve the right in our sole discretion to refuse to register a bidder or to refuse to accept bids from anyone.

5. To top a bid, you must bid at least the next highest bid amount that is shown on the web site. All valid bid increments are displayed on the site using the values shown in the table below. There are absolutely no exceptions to the raise amounts. Placing a bid constitutes acceptance of the terms of sale as outlined herein. Current (real-time) bid status is available on our website with all lot listings and on the price grid.

Bid  Range  Increments 
  $100  to  $499   $25
  $500  to  $999   $50
  $1,000  to  $2,499   $100
  $2,500  to  $4,999   $250
  $5,000  to  $9,999   $500
  $10,000  to  $24,999   $1,000
  $25,000  to  $99,999   $2,500
  $100,000  to  $249,999   $5,000
  $250,000  to  $499,999   $10,000
  $500,000  to  $999,999   $25,000
  $1,000,000 And Above $50,000
During Live Auctions, bid increments over $100,000 will be at the discretion of the auctioneer. 



6. Subject to exceptions relating to credit considerations, all qualified bidders in good standing are eligible to bid on any lot in the auction. Legendary Auctions as a Company, as well as all of its employees (including executives and principals), are ineligible to bid in our auctions. Passive outside investors are eligible to bid.


7. Offers to "top all other bids” are not accepted, but you may place a "Max” bid (also known as "Up To,” "Ceiling,” or "Limit” bid) and the system will automatically bid on your behalf up to that amount only if and when necessary. In the event of a tie bid, the earlier received bid will be recognized as the successful bid. (See Max Bids section of the Guide for Prospective Bidders, which follows these rules).

8. All material is guaranteed genuine; we offer no reproductions unless explicitly stated. For more information about authenticity, see A Word About Authenticity at the bottom of this page.

9. Illinois and Pennsylvania State sales tax is charged on any purchases collected, delivered in, or shipped to those states unless the purchaser has provided Legendary Auctions, Inc. with a valid sales tax exemption certificate issued by the State of Pennsylvania or Illinois. (Coins and other numismatic items are exempt from Illinois sales tax and these items will not be charged sales tax in Illinois).

10. Please remember there is a 19.5% Buyer's Premium. For example, should you win a lot for $1000, your actual cost will be $1195 (plus shipping, insurance and tax, if applicable). This 19.5% Buyer’s Premium will be in place for all catalog and live auctions, effective immediately.

11. Grading and condition of lots: There is a subjectivity to grading, especially the grading of cards. Every effort is made to verify the condition of each lot as it is described. We do not accept for auction any lots without careful scrutiny by not only ourselves, but, when necessary, by other leading authenticators. We cannot guarantee that every card described by us will in all cases receive exactly the same grade or even be accepted for grading by any third party grading service. No warranty, whether expressed or implied, is made with respect to any grade, condition, or other adjectival descriptions, which can and do vary, even among experts. Furthermore, we are not bound by the opinions of any authenticators, grading services, or "experts", nor do the rules governing auctions held in any of the "trade papers" or magazines in which we may advertise hold precedence over the above listed rules. All measurements are approximate.

12. No retractions of bids are permitted. Once a bid has been placed, it may not be retracted.

13. All Sales Are Final. No Returns Are Accepted.

14. In no event will Legendary Auctions' liability to a purchaser exceed the purchase price actually paid for any lot. Legendary Auctions, Inc. reserves the right to accept or reject any or all bids by any bidder. Legendary Auctions, Inc. reserves the right to postpone or delay the auction, for a reasonable period of time, due to any significant, relevant event which, in the sole discretion of the auctioneer, makes it inadvisable to hold the auction as scheduled, without recourse from any bidder or prospective bidder.

15. Although Legendary Auctions employees, executives and principals are prohibited from bidding in the auction, from time to time they will own items that are consigned to the auction.


16. Title to any lot remains with the consignor or Legendary Auctions, Inc. and shall not pass to the successful bidder until the lot is actually paid for in full.

17. Payment is due within 14 days of the date of the invoice. Invoices will be mailed on or before THE MONDAY FOLLOWING THE AUCTION. Any bidder who has not paid in full without having made prior arrangements for late payment will have future bidding privileges revoked. We accept personal checks. Personal checks are held for 10 business days (no exceptions) before the are deemed cleared; it can take an additional 5-7 business days after funds have been collected before shipment occurs. We also accept cashier’s checks, certified checks, money orders or wire transfers. These forms of payment are registered immediately and shipment of items generally occurs 5-7 days after posting. No credit cards accepted. We reserve the right to charge interest on past due unpaid balances at 1.5% per month until paid.

18. Placing a bid constitutes express acceptance of all terms and provisions contained in these Conditions of Sale. In the event of a dispute, the bidder agrees to pay all of the auctioneer’s reasonable attorney’s fees and cost involved in collection of funds, plus 1.5% interest per month on any unpaid balance, accruing from the original due date, until the date all balances are paid. The jurisdiction for all litigation shall be in the State of Illinois, County of DuPage or the Federal District Court of Illinois at the discretion of the auctioneer. Bidder hereby consents to the jurisdiction of Illinois. Each term and provision of these Conditions of Sale shall be construed as separate and distinct. In the event that any such term or provision shall be held whole by a court of competent jurisdiction to be invalid, in whole or in part, the remaining terms and provisions shall survive and be binding on both parties.

19. If a winning bidder does not honor his or her bid with payment in full per the auction rules, then it is agreed that Legendary Auctions, Inc. may, at its sole discretion, sell the given item(s) to an under -bidder, or re-offer the given lot(s) in a future auction, and that the original winning bidder is responsible for any losses incurred or service charges involved in the sale of said item(s), and that the non-paying winning bidder explicitly agrees to pay any and all reasonable legal fees incurred by Legendary Auctions, Inc. in the collection of these losses and/or service charges from the non-paying winning bidder if necessary.


20. Lots with hidden reserves will be marked as such in our catalog and on our website. Estimates will also be listed—and the reserves will never be higher than the low estimate.

21. All invoices include shipping and insurance charges. The shipping charge is based on calculated FedEx Ground service (with signature required) and includes a $2.50 handling fee. The insurance is calculated based on the value of the material, 80¢ per $100, and adjusted after each $100 up to $10,000, then every $1,000 up to $25,000, and every $5,000 up to $100,000. 


Guide for Prospective Bidders

Placing Bids in Internet-Catalog Auctions
We strongly urge bidders to place initial bids early. Bids are welcomed and encouraged before the closing date of the auction. Most bidders choose to place their initial bids days before the closing dates. Please remember that if you have not bid on an item before 9:00 PM central time on the day the item closes, you cannot bid on it after 9:00 PM. There are No Exceptions to this rule. Because of this rule, if you are the only bidder on a given lot at 9:00 PM then that lot is automatically closed out and you are declared the winner. If at 9:00 PM you are the high bidder on a given lot, which has also received bids by other bidders, then there can still be further bidding on that lot after 10:00 PM, But only by you and the others who have previously bid on that lot.

Bid Notifications Via Email
You will receive bid confirmations and outbid notifications via e-mail on every item for which you are bidding, except when you are immediately outbid upon placing your bid due to an existing higher ceiling bid. In this case you will be notified on your computer screen. It has been our experience that many Internet service providers (AOL in particular) and email programs will randomly identify these e-mails as spam and will delete them or delay delivery. As this is out of our control, we are unable to rectify this issue. As a result, we strongly recommend users track their bids as we cannot guarantee timely delivery of the notification e-mails through many ISPs.

"Max Bids" (Up To, Ceiling or Limit Bids)
"Max Bids" (sometimes called UP TO, CEILING or LIMIT BIDS) are an option. When placing such a bid you are instructing Legendary Auctions, Inc. to competitively bid on your behalf up to, but not over, a given limit. Such bids must be calculated in the appropriate increments for the item based on its current bid. The website automatically displays these increments for you. Please note that the "Up To” bid increments that will appear for an item will skip an increment to prevent a bidder from occupying two consecutive bids. For example, if a bid is placed of $100, the first available "Up To” bid will be $120, skipping $110, as an increment must be left available for another bidder to enter his bid. The bidding system will automatically execute "Up To” bids within seconds after a bid with an "Up To” has been topped. Remember, all bids must comply with the minimum bid raise rule.


"Straight" Bids

Bidders may place a “Straight” or “Absolute” bid on a lot. A “Straight” bid is defined as a bid placed at a level higher than the current next incremental bid. All straight bids must be placed in appropriate increments for the specific lots to which they apply. In the event of tie bids, the earlier received bid will take precedence. This is especially significant with reference to “Straight” bids because if a "Straight" bid is placed at a higher than normal incremental increase on an item on which another bidder has left an “Up To” bid, such “Up To” bid will have priority. For example, if a lot is bid at $100 by Bidder A with an “Up To” of $120, and Bidder B attempts to top the current high bid of $100 with a “Straight” bid of $120, then Bidder A’s “Up To” will automatically be executed and Bidder A will be the high bid at $120. Bidder B will be informed that he is not the high bidder at $120, and that the next bidding increment is $130. In this way, the bidding process can accommodate bidders wishing to place “Straight” bids while not compromising the bidding strategies of “Up To” bidders.


Auction Results

Full results of the auction will be available following the close of the auction on our website at www.Legendaryauctions.com. Auction results will also be mailed upon request to anyone sending a self-addressed stamped envelope. Complete auction results will be mailed to all winning bidders.

 

A Word About Authenticity
Legendary Auctions takes pride in the unquestionable genuineness and quality of the material that is offered in the company's catalogs. The organization's authentication standards for material offered are uncompromising, and reflect Legendary Auctions' full commitment to collector satisfaction. Legendary Auctions rejects a tremendous amount of material, through our initial screening process. Experienced Hobbyists within the Legendary Auctions organization scrutinize all items accepted, for any Legendary Auctions event:

Doug Allen, Legendary Auctions President & CEO, has over 20 years of hobby experience with an expertise in vintage cards, game used bats and uniforms. In the last decade alone Doug has handled three of the largest card collections in the world including Richard Egan, Frank Nagy and Lionel Carter. Doug was also involved in writing a book on game used baseball bats that is still used as a reference tool today.

Mark Theotikos has been an autograph hobbyist for more than 25 years, and his area of special interest is baseball autographs. Mark has personally handled hundreds of thousands of autographs, and is very adept at spotting forgeries. Mark has served as consulting expert in the assembly of a number of the hobby's finest baseball autograph collections.

In addition to a detailed pre-authentication screening process Legendary Auctions, Inc. employs the services of several third-party authentication services and individual experts, all highly respected in their areas of expertise.

Our policy with respect to authentication of signed material and Letters of Authenticity:

James Spence Authentication and James Spence III, who is recognized worldwide as one of the industry’s top sports autograph authenticators, provides all of our authentication services for signed material.

Legendary Auctions furnishes full LOAs, COAs or Auction LOAs from James Spence Authentication with all offerings with signed items.
As our customers are aware, Legendary Auctions has always been committed, with respect to signed material, to providing substantive LOA documentation with each item sold. All autographs consigned to our company will undergo a thorough authentication process that will be, with few exceptions, conducted under the auspices of James Spence Authentication. The exceptions include items already accompanied by documentation from PSA/DNA or Upper Deck Authenticated (UDA). Please note that it is always the responsibility of the bidder to review the information provided for each lot in order to determine what form of authentication will accompany an item.

Each lot will be accompanied by one of the following forms of authentication documentation from James Spence Authentication:
• Full Letter of Authenticity
• Certificate of Authenticity
• Auction LOA—An Auction LOA will accompany lots with multiple items. These items are still scrutinized for authenticity of the signatures, but the individual items do not receive individual LOAs or COAs. The Auction LOA will state that all the material in the lot has been reviewed and is authentic in the opinion of James Spence Authentication.


Game Used Items

BatsJohn Taube is an acknowledged authority on professional model bats, assessing their game use, authenticity and provenance through a thorough 25-Step authentication procedure.

Jerseys – Legendary Auctions provides our own LOAs for all game used Jerseys. Behind these LOAs is the most targeted and comprehensive authentication process in the business. For each auction we engage no fewer than two experts that will work together to examine all of our game used jerseys. No individual names will be associated with this work based on the fact that we will only offer items where the team unanimously deems the item to be authentic.

Legendary Auctions stands behind the authenticity of the items in the company’s auctions, and we attempt to make every effort to offer genuine material—all of which has been evaluated and authenticated by the leading experts in the hobby. Because of the due diligence we perform, it is our firm policy that the sale of any lot accompanied by a Letter of Authenticity will be considered final. All lots are available for viewing prior to the auction. ALL AUTOGRAPH AND GAME USED EQUIPMENT SALES ARE FINAL.

PLEASE NOTE:
All lot-description references to PSA Population Reports, PSA SMR values, and PSA or SGC Set Registry rankings are accurate at the time the catalogue description is composed: bidders should be advised that this information is always subject to change. Legendary Auctions will not accept returned items based on apparent discrepancies in information cited from these sources.

Legendary Auctions, LLC
17542 Chicago Avenue
Lansing, IL 60438
(708) 889-9380