The property listed in this auction catalogue will be offered by Millea Bros. Ltd. (Millea Bros.) as owner or as agent for their consignor(s) subject to the following terms and conditions. Any of the following conditions of sale may be amended, waived, or modified in the sole discretion of Millea Bros. Ltd. By placing a bid, whether present in the saleroom or by any other means, the buyer (bidder, purchaser) agrees to be bound by the following conditions of sale:

1) All property is sold in “as is” condition and all sales are final. Neither Millea Bros. nor their consignor(s) makes any representations or warranties, express or implied, with respect to the property or the correctness of the catalogue or other description of the authenticity of authorship, physical condition, size, age, quality, rarity, importance, provenance, exhibitions, literature or historical relevance of the property or otherwise.

2) The highest bidder acknowledged by the auctioneer shall be the buyer. The auctioneer reserves the right to reject any bid and shall advance the bid at his/her sole discretion.

3) The auctioneer has sole and exclusive discretion, and authority to regulate the following bidding increments:

$0 - $100 ................... $10 increments
$101 - $500 ................. $25 increments
$501 - $1,000 ............... $50 increments
$1,001 - $2,000 ............. $100 increments
$2,001 - $5,000 ............. $250 increments
$5,001 - $10,000 ............ $500 increments
$10,001 - $50,000 ........... $1,000 increments
$50,001 - $100,000 .......... $2,500 increments
$100,001 - $150,000 ......... $5,000 increments
$150,001 - and up ........... $10,000 increments

4) Some lots offered for sale may be subject to a reserve, which is a confidential minimum price below which a lot will not be sold. Consignors are prohibited from bidding on their own property; however, the auctioneer may implement reserves by bidding on behalf of the consignor.

5) Absentee, telephone, and Internet bidding is offered as a convenience to our customers and, while we will make every effort to carry out your instructions, Millea Bros. cannot be held responsible for errors and omissions resulting in failure to execute your absentee, and/or telephone bids.

6) Title of each lot passes upon the fall of the auctioneer’s hammer to the highest acknowledged bidder. Thereafter, any loss by fire, theft, breakage, or any other cause is the sole responsibility of the purchaser. Merchandise must be packed and transported by the purchaser at his/her own risk and expense. Under no circumstances will Millea Bros.’ liabilities to a purchaser exceed the purchase price actually paid.

7) The purchase price of each lot shall be the amount of the successful bid plus a twenty-four percent (24%) buyer’s premium on the first $500,000 and a seventeen percent (17%) buyer’s premium on the portion exceeding $500,000. BUYERS WHO PAY THEIR INVOICES IN FULL WITHIN 14 DAYS OF THE OF THE AUCTION DATE (BY DECEMBER 3, 2011) WILL PAY A REDUCED BUYER'S PREMIUM OF 20%. Unless exempt by law, all purchases, including buyer's premium, are subject to all state and local taxes applicable at the time of payment.

8) All payments are due immediately upon receipt of invoice. Payments will be accepted by cash, Visa, MasterCard, traveler’s check, or personal check. Credit card payments will only be accepted under the following conditions: 1) the cardholder is present; 2) the credit card is swiped; and, 3) an original signed receipt can be obtained at the time of the trasnsaction. Property purchased during the auction may not be removed until the full purchase price, including buyer’s premium and all applicable taxes, have been paid. Millea Bros. reserves the right to hold merchandise purchased by personal check until the check has cleared the bank. The purchaser agrees to pay Millea Bros. a handling charge of $35 for any check returned for insufficient funds. There is a $25,000 limit on purchases made by credit card. A service charge of 1.5% will be added each month to unpaid balances beginning 30 days after the sale date.

9) The purchaser must pay for and remove all property from "the auction site" (The Morristown National Guard Armory, 430 Western Avenue, Morristown, NJ 07960) at his/her risk and expense. Buyers are welcome to use a pack/ship professional of their choice or to collect their purchases in person at "the auction site" before 4:00pm on the Monday following the auction event. All purchases not removed from "the auction site" by 4:00PM that Monday, will be released to The UPS Store of Morristown and moved to an off-site pack/ship facility without further notice to the buyer. The UPS Store of Morristown will contact all buyers directly with shipping options and/or property collection information after full and clear payment has been received. For pack/ship quotes and inquiries The UPS Store of Morristown can reached at 973.538.0400 or store1748@theupsstore.com.

10) If any applicable conditions contained herein are not complied with by the purchaser, Millea Bros. may, in addition to other remedies available by law; (a) hold the purchaser liable for the total purchase price; (b) retain any payment made by the purchaser, and/or (c) cancel the sale and resell the property without reserve and the original purchaser will be liable for any deficiency and added cost.

GLOSSARY OF CATALOGING TERMS
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The terminologies used in this catalogue are qualified statements or opinions and are not intended or made as warranted statements or representations.

Fine Art (except bronze sculpture):
1."Pablo Picasso" - in our estimation the work is by the named artist
2."Attributed to Pablo Picasso" - in our estimation, although it cannot be said with certainty, the work appears to have been executed within the lifetime of the artist, and based on style, may be ascribed to the artist.
3."After Pablo Picasso" - in our estimation, the work is in the style of or may be a later copy of a work by the artist.

Furniture & Decorative Objects:
1."George III tea table" - in our estimation, the piece is basically of the period with possible alterations and/or restorations
2."George III style tea table" - in our estimation, the piece is later reproduction of an earlier style or period

NOTE REGARDING ANIMAL MATERIALS
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Certain property contained in this catalogue may be constructed from, or may incorporate animal materials, and may require a license, permit or certificate for exportation or resale. It is the sole responsibility of the purchaser to obtain appropriate licenses. The sale of a lot will not be cancelled if a purchaser cannot obtain the appropriate license, permit, or certificate.