The Purchaser shall immediately be allowed to take possession of the Motor Car(s) or Any Other Items upon complete payment of the Purchase Price.5. Any dispute, claim or controversy arising out of or relating to this Agreement or the breach, termination, enforcement, interpretation or validity thereof, including the determination of the scope or applicability of this Agreement to arbitrate, shall be determined by arbitration in Detroit, MI before one arbitrator. Sotheby’s International Realty ® and the Sotheby’s International Realty Logo are service marks licensed to Sotheby’s International Realty Affiliates LLC and used with permission. The Seller acknowledges that the representations, warranties, and covenants listed above are material to the Agreement and have induced the Purchaser to enter into the Agreement. RMS will maintain insurance on the Motor Car(s) or Any Other Items until RMS receives the entire Purchase Price from the Purchaser. On top of that $3.5 billion in auction sales, there was an additional $1.5 billion in private sales, the house said, amounting to a total of $5 billion. Contact CONDITIONS OF BUSINESS1. The Driver's Collection. About Sotheby’s International Realty Affiliates LLC. RMS wishes to sell, assign, and transfer, and the Purchaser (which includes any affiliated, successor, or designated companies) wishes to purchase the Motor Car(s) or Any Other Items subject to the terms and conditions of these Conditions of Business (“Agreement”).3. The Seller represents, warrants, and covenants to the Purchaser that:6.1 The Seller is the absolute legal and beneficial owner of the Motor Car(s) or Any Other Items, with good and marketable Title(s), and is/are free and clear of any security agreements, other liens, charges, encumbrances, or rights of others; 6.2 The Seller is exclusively entitled to possess and dispose of the Motor Car(s) or Any Other Items;6.3 The Seller has all necessary power, authority, and capacity to enter into this Agreement and to perform its obligations under this Agreement;6.4 The Motor Car(s) or Any Other Items has/have its/their original factory-installed chassis, engine(s), transmission(s), body panel(s), and all major components that the Motor Car(s) or Any Other Items was/were delivered with when new;6.4.1 If the Motor Car(s) or Any Other Items do(es) not conform to the above description, the Seller must provide a full accurate description of the Motor Car(s) or Any Other Items that is/are acceptable to the Purchaser. RM Sotheby's has been a trusted private broker for buying or selling significant motor cars for countless global clients over the years. Barry Avrich Talks About His New Knoedler Forgery Documentary, ‘Made You Look’, 14th-Century Painting to Sell at Auction Under Restitution Settlement with German-Jewish Art Historian's Heir, Tarsila do Amaral Work at Center of Legal Dispute Sells for Record Price in Brazil. 1965 Aston Martin DB5 Vantage Convertible, $1,300,000 The Seller (which includes any affiliated, successor, or designated companies) is the owner of the Motor Car(s) or Any Other Items and any and all accompaniments, including but not limited to Title(s) (defined below) documents, historical documents, certificates of authenticity, tools, or bags.2. We offer the world's finest cars to the most discerning collectors. This clause shall not preclude parties from seeking provisional remedies in aid of arbitration from a court of appropriate jurisdiction.13. Can Gagosian’s New Streaming Service Help the Mega-Gallery Keep Up with Big Auction Houses? This clause shall not preclude parties from seeking provisional remedies in aid of arbitration from a court of appropriate jurisdiction.15. George Bailey has 40 years’ experience in the auction world having joined Bonhams in 1978. Which Top 200 Collectors Can Spend $50 M. or More on a Single Purchase? That’s substantial drop of 27 percent from last year’s $4.8 billion auction total. They are known as Private Treaty Sales. Private sales, previously a strong suit for Sotheby’s, benefited from the auction rooms being shuttered by the pandemic. The company's headquarters are located in Blenheim, Ontario. For further information on the motor cars offered via RM Sotheby's Private Sales division along with pricing information on The Driver's Collection, please visit rmsothebys.com or contact Alexander Weaver at … RMS will use reasonable efforts to avoid cancellation/rescission; however, RMS has the sole discretion to cancel/rescind the sale of the Motor Car(s) or Any Other Items and will not be liable to the Purchaser for any losses or damages resulting from the cancellation/rescission if RMS believes the following events have occurred or have a reasonable probability of occurring:9.1 RMS opines that physical damage to the Motor Car(s) or Any Other Items, which cannot be sufficiently repaired prior to the sale, occurred after this Agreement was signed; 9.2 RMS is served with a lawsuit from a third party in relation to the Motor Car(s) or Any Other Items;9.3 RMS faces significant reputational damages that would cause monetary damages for selling the Motor Car(s) or Any Other Items; 9.4 Material issues regarding the Title(s) that cannot be reasonably cured; 9.5 Material issues regarding the provenance, merchantability, or authenticity of the Motor Car(s) or Any Other Items that cannot be reasonably cured; or 9.6 If there are legitimate claims, accusations, notices, or similar communications made by the Purchaser in regard to their purchase of the Motor Car(s) or Any Other Items not being authentic, being misrepresented, having an encumbered Title(s), having an undisclosed material issue, or having a similar claim, RMS has the right to retain the Purchaser’s funds on account and be the arbitrator as to the merit of the Purchaser’s claims and to cancel the sale of the Motor Car(s) or Any Other Items and reimburse the payment to the Purchaser if RMS deems the Purchaser’s claims to be valid. 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