General Rules of the Sealed Bid Sale
1. Each art piece in the Sealed Bid Sale has a reserved price listed as Minimum Bid.
2. The highest bid above the stated reserve price purchases the art piece. No set bidding increments will be adhered to. In order to avoid identical bid amounts by multiple bidders, bidders are encouraged to bid using amounts to the nearest dollar amount not likely to be replicated (example: $1,095,873). In the event of a tie, the bid received first will be considered the winning bid.
3. All art pieces are offered “as is.”
4. The Museum assumes no risk, liability, or responsibility for the authenticity or the authorship of any art identified in the catalogue.
5. The Museum reserves the right to withdraw any art piece at any time before the sale.
6. All bidders, whether remote or on-site, must complete an “Intent to Purchase” (ITP) slip for the art piece(s) they wish to purchase.
7. ITP slips must be placed in the designated bid box before 6:30 p.m. on Friday, March 19. If mailed or otherwise delivered, ITP slips must be received at the C.M. Russell Museum by 5:00 p.m. Friday, March 19.
8. At 6:30 p.m. on Friday, March 19, the Art Marshal will determine the winning bidder for each art piece with independent verification by the accounting firm Anderson ZurMuehlen. The winning bidder will be notified of success by 7:30 p.m.
9. Upon acknowledgement of the winning bidder, either by the auctioneer or a marshal, title to the art piece shall pass to the bidder.
10. Immediate payment of the sales price plus a buyer’s premium is required. Buyer’s premium will equate to 15 percent of the accepted winning bid amount up to and including $500,000 and 12 percent of the excess of the winning bid amount above $500,000.
11. All sales are final and there will be no exchanges of refunds on art pieces.
12. Terms of purchase will be cash, check, cashier’s check, or wire transfer of funds.
13. Pickup or shipping arrangements for purchases are the responsibility of the purchaser.