PURCHASE AGREEMENT TERMS AND CONDITIONS
1.Delivery. Upon full payment of the Total Purchase Price, including interest and late fees accrued thereon, Kagin’s shall effect reasonably prompt delivery of the Collectible to the Buyer at the address indicated (or such other reasonable address as shall have been directed by Buyer by prior written notification to Kagin’s). Kagin’s shall bear the costs of delivery. If delivery of the Collectible has been made prior to full payment, Buyer holds the Collectible only as bailee for Kagin’s, and agrees to effect prompt return upon demand.
2.Ownership. Ownership of, and title to the Collectible shall remain with Kagin’s until full payment of the Total Purchase Price, together with any interest and late accrued thereon, and Buyer shall have no right, title or interest in the Collectible prior thereto, except Buyer’s contractual right of purchase hereunder. Risk of loss shall be Kagin’s prior to delivery, and thereafter solely Buyer’s.
3.Kagin’s Representations, Warranties, and Disclaimer of Warranty. Kagin’s represents and warrants to Buyer that: (i) the Collectible is as identified herein, (ii) the Collectible is authentic; and (iii) Kagin’s has full right and authority to transfer full ownership of the Collectible to Buyer, free of any lien or encumbrance.
4. KAGIN’S EXPRESSLY DISCLAIMS ANY OTHER EXPRESS OR IMPLIED REPRESENTATION OR WARRANTY (INCLUDING, WITHOUT LIMITATION, AS TO MERCHANTABILITY, FITNESS, OR THE MARKET VALUE OF THE COLLECTIBLE EITHER AT THE TIME OF THIS AGREEMENT OR AT TRANSFER OF OWNERSHIP THEREOF TO BUYER).
5.ANY REFERENCE TO GRADING OF THE COLLECTIBLE IN THE DESCRIPTION HEREIN IS NOT WARRANTED, OTHER THAN AS A GOOD FAITH OPINION OF KAGIN’S BASED ON INFORMATION AVAILABLE TO KAGIN’S AT THE TIME AND/OR ON THE OPINION OF A GRADING SERVICE WHICH HAS CERTIFIED THE COLLECTIBLE.
6.Buyer Representations. Buyer represents and warrants to Kagin’s that: (i) Buyer has full capacity, power, and authority to enter into this Agreement; (ii) Buyer is an experienced dealer or collector of collectibles of the type subject to this Agreement (or has solicited independent advice in Buyer’s judgment to make an informed purchase decision); and (iii) Buyer is not relying on any advice from Kagin’s (other than to the extent of Kagin’s express representations and warranties set forth herein) as to Collectible value.
7.Kagin’s Default. In the event of Kagin’s default hereunder, damages shall be limited to the amount of the Collectible Purchase Price. In no event shall Kagin’s be liable for indirect, consequential or incidental damages, or for any alleged increase in value of the Collectible.
8.Buyer Default and Damages. Buyer shall be in default if Buyer fails to pay Kagin’s ten (10) days following non-payment of any installment (or full payment) due hereunder, without requirement for further demand or notice from Kagin’s. In the event of Buyer default, Kagin’s may elect to terminate this Agreement, retain/receive liquidated damages as provided in Section 10, and remit payment to Buyer of amounts received, if any, as determined by Kagin’s. Kagin’s may, at its sole option, extend the time for Buyer’s payment obligations hereunder. Such extension shall not otherwise modify this Agreement. Kagin’s failure to enforce any provision shall not constitute a waiver of such provision, and any instance of waiver of a provision by Kagin’s shall not constitute a waiver or estoppel of enforcement of such provision in other instances.
9.Liquidated Damages. Buyer acknowledges that the damages to Kagin’s right hereunder (i.e., inventory commitment, lost trading opportunities) are difficult or impossible to determine. The parties agree that, in the event of Buyer default hereunder, Kagin’s shall be entitled to liquidated damages equal to Ten Percent (10%) of the Collectible Purchase Price (plus any interest accrued under Installment Terms to the date of default). Kagin’s shall be entitled to retain any payments made to the date of default up to the amount of such liquidated damages (remitting the remainder of payments made to Buyer) in satisfaction of Buyer’s default liability.
10.Arbitration. The parties agree that any dispute or controversy involving the authenticity of the Collectible or the manner of its sale to Buyer shall be submitted to binding arbitration in Marin County, California through the Professional Numismatics Guild.
11.Attorneys’ Fees. In the event of any action or proceeding to enforce the parties’ rights hereunder, the prevailing party shall be entitled to recover from the other all reasonable litigation expenses, including (but not necessarily limited to) attorneys’ fees, costs of suit or arbitration, expert consulting fees, and other necessary expenses.
12.Assignment. This Agreement may not be assigned by either party without the consent of the other, not to be withheld unreasonably. This Agreement shall be binding upon and inure to the benefit of any successor in interest of either of the parties.
13.Miscellaneous. This Agreement shall be binding upon, and inure to the benefit of, the successors in interest. Buyer represents that Buyer has read and understood the terms and conditions of this Agreement, and has access to legal counsel. This Agreement may be executed in counterparts taken together, shall constitute one and the same original. Facsimile or electronic signatures may be relied upon as originals. Any notice required or permitted hereunder shall be deemed effective on the earliest of: (i) actual receipt by the noticed party; (ii) if by mail or certified mail, three days following deposit in the U.S. mails; or (iii) by overnight courier, two business days following deposit.
14.Governing Law and Venue. This Agreement shall be governed and construed in accordance with the laws of the State of California. The parties agree that this Agreement shall be deemed entered into in, and the proper venue for any action hereunder shall be the Superior Court in Marin County, California.
Online Checkout and Phone Orders:
Payment Methods:
We accept payment via check, wire transfer, or PayPal.
Shipping Policy:
All orders include complimentary shipping to billing address.
Return Policy:
We offer a 30-day, 100% Satisfaction Guarantee. To qualify for a return, the item must be in the exact condition as when it was shipped, including the original graded holder or packaging, without any alterations or damage. The buyer is responsible for the cost of return shipping. Failure to meet these conditions may result in a denial of the refund.
Installment Payments: The remainder of the Total Purchase Price shall be payable in installments, as set forth in this section below, together with interest on the unpaid Total Purchase Price accrued as of the date of each installment at the rate of 12% per year. Installments, together with accrued and unpaid interest, shall be due as of the first day of each month identified below. Any installment unpaid for more than 60 days after the date due shall be subject (in addition to accruing interest) to a late charge of 1-1/2% per month. In the event any interest and/or late fees are deemed to exceed the amounts permitted under applicable law, the unpaid amount of the Total Purchase Price shall be deemed to bear only interest at 10% per annum.