CONDITIONS OF SALE FOR BIDDERS BUYERS AND SELLERS

1. Every attempt has been made to describe all property as accurately as possible.

2. Kensington’s is not responsible for the accuracy of catalogue descriptions, including but not limited to vintage, provenance, quality and condition as may be described in this catalogue.

3. Any and all material relating to the property in the physical catalogue or on the respective internet bid page are merely statements of opinion and can at no time be construed as warranties or representations of fact or assumptions of any liability on the part of Kensington’s.

4. The Buyer accepts all purchases “as is”.

5. Any disputes arising from claims that property received is found to be ullaged or otherwise out of condition, shall be considered a dispute between the Seller and Buyer.

6. Kensington’s will judge any claims through inspection of the property or by any other just means, and may cancel the sale and refund the purchase price.

7.At all times the decision of Kensington’s will be final and binding on all parties.

8. The term “final bid” as used herein shall refer to the price at which any lot is knocked down to the Buyer.

9. The purchase price, due from the Buyer upon receipt of invoice from Kensington’s, shall be the aggregate of the final bid and a premium of 15% of the final bid, together with any applicable pay pal fees and or sales tax, styro-packing and shipping fees.

10. No property will be released to the Buyer until Kensington’s receives full payment for all lots purchased along with any applicable state and local taxes which Kensington’s may be required by law to collect.

11. All applicable handling fees must be received prior to the release of the property.

12. Bidder warrants that he/she is at least 21 years of age.

13. Kensington’s reserves the right to amend the description of any lot during the auction, or to withdraw any lot at any time.

14. Unless otherwise indicated, it may be assumed that a reserve, or confidential minimum selling price, has been established on all lots.

15. Should bidding not meet the reserve price, Kensington’s may enforce the reserve by bidding on behalf of the Seller.

16. The highest bidder for any lot at the close of the auction shall become the Buyer of same lot, and will assume full responsibility for the lot upon the close of the auction.

17. Kensington’s may refuse any bid and advance the bidding at the Auction Director’s discretion.

18. If, during the auction, the Auction Director considers that any dispute has arisen between any bidders, such dispute will be resolved by the Auction Director.

19. The Auction Director reserves the right to re-open any lot for rebidding at any time during the auction.

20. In the event of any dispute during or after the auction, the records of Kensington’s shall be considered final, and the decision of Kensington’s shall be final and binding onto all parties.

21. Bids submitted to Kensington’s are processed and executed as a service and convenience to bidders and are executed in the order in which they are received.

22. Neither Kensington’s, its staff, nor web-site shall be held responsible for any failure to execute such bids or any error relating to same.

23. Should any Buyer fail to fully comply with these Conditions of Sale, Kensington’s retains its right to all legal remedies listed herein as well as those remedies permitted by law.

24. The rights and obligations of all parties shall be governed by the laws of The State of Illinois.

25. Payment will be by check, wire transfer, PayPal, Visa, MasterCard or money order only.

26. Remittance must be made in United States currency, with checks drawn on United States banks.

27. Invoices will be e-mailed, faxed, or mailed via US Postal service following the auction.

28. In the event that the successful bidder is an Illinois licensee, licensee agrees acknowledge and adhere to ILCC TPP #19 conditions.

29. Any client whose check is returned, or any charge resulting in a charge back for any reason will be subject to a $40.00 processing fee, and wines will not be released until payment has been received and charges, wire transfers, or checks have been cleared into the account of Kensington’s.

30. Payment is due upon receipt of invoice.

31. Without prejudice to any rights the Seller may have, if the Buyer, without prior agreement fails to make payment for the lot(s) within five days of the close of the auction, Kensington’s may in its sole discretion (having informed the Seller) exercise one or more of the following remedies: a) store the lot at its premises or elsewhere at the Buyer’s sole risk and expense; b) cancel the sale of the lot; c) set off any amounts owed to the Buyer by a Kensington’s Company against any amounts owed to Kensington’s by the Buyer in respect of the lot; d) reject future bids from the Buyer or render such bids subject to payment of a deposit e) charge interest at 4% per annum above published average bank base rate from the Due Date to the Date the Purchase Price and relevant Buyer’s Expenses are received in cleared funds. f) exercise a lien over any of the Buyer’s property which is in the possession of a Kensington’s Company. g) Kensington’s shall inform the Buyer of the exercise of any such lien and within 14 days of such notice may arrange the sale of such property and apply the proceeds to the amount owed to Kensington’s; h) resell the lot by auction or private sale, with estimates and reserves at Kensington’s discretion. i) In the event such resale is for less than the Purchase Price and Buyer’s Expenses for the lot(s), the Buyer will remain liable for the shortfall together with all costs incurred in such resale; j) commence legal proceedings to recover the Purchase Price and Buyer’s Expenses for the lot(s), together with interest and the costs of such proceedings on a full indemnity basis; or k) release the name and address of the Buyer to the Seller to enable the Seller to commence legal proceedings to recover the amounts due and legal costs (Kensington’s will take reasonable steps to notify the Buyer prior to releasing such details to the Seller.)

32. Consignors may at no time bid on their own wine, nor may they disrupt a live auction or circumvent the auctioneer at any time.

33. Kensington’s reserves the right to refuse service to anyone it deems to be acting against the interests, success and furtherance of the company.

34. By bidding at this, or any other Kensington’s auction, Buyer acknowledges and agrees to Kensington’s policies regarding “Collection and Shipment of Wines” written within this catalogue.

35. Licensees are prohibited from paying via credit card.

36. Bidders agree that any purchases are solely for the purpose of personal consumption and not for resale, unless bidder is a licensee.

37. At no time shall an individual or licensee bid or purchase for the ultimate purpose of resale to third parties in a manner that would be deemed illegal.

38. Should Kensington’s learn of such intentions mentioned with section 37, Kensington’s shall hold Purchaser liable for all legal fees, damages and any other costs accrued by Kensington’s to prevent such an occurance and shall cause Purchaser to forfeit respective purchase price(s) and property without further claim on Kensington’s.

BOTTLE DESCRIPTION

Bordeaux

Base Neck A common fill level at which many Chateaux release their wine. For wines of any age, this level suggests excellent provenance.

Very High Shoulder Acceptable fill level for wines 8 or more years of age. Suggests proper storage conditions throughout its life. Natural occurrence for wines of this age.

High Shoulder Usually not a problem for wines in excess of 20 years of age. This level may be caused by easing of the cork combined with natural evaporation. Check the clarity and the color of the wine in the bottle as a secondary indicator of provenance.

High-to-Mid-Shoulder Refer to High Shoulder and Mid-Shoulder level descriptions.

Mid Shoulder May suggest ullage during the life of the wine due to easing of the cork or inconsistent storage conditions. Not abnormal for wines 30 or more years of age. As additional indicators of risk, inspect clarity and color of the wine in the bottle, as well as condition of the cork.

Low Shoulder and Below Suggests poor provenance. Definitely a risk and generally not saleable, with exception given to rare bottlings and/or labels. Not recommended for consumption.

Half Bottle .375 Litres

Half Litre .5 Litres

Bottle .750 Litres

Magnum 1.5 Litres

Double Magnum 3 Litres

Jeroboam (Burgundy) 3 Litres

Jeroboam (Bordeaux) 4 Litres

Rehoboam 5–6 Litres

Imperial 6 Litres

Methuselah 6 Litres

Salmanazar 9 Litres

Sovereign 26 Litres

Burgundy

Because the shape of Burgundy bottles does not allow for a level rating system based on the shoulder of the bottle, levels are described by means of inches or centimeters below cork. Generally, Burgundy wines with an inch and one half fill level or above are considered normal for wines younger than 10 years of age. Wines of 15 or more years of age with fill levels of between an inch and one half and three inches are generally considered to be of sound provenance, though consideration should be given to the clarity and color of the wine in the bottle, as well as the condition of the cork.

Burgundy bottles with fill levels lower than three inches may be at risk of being damaged or undrinkable, and therefore may be unsaleable. It should be noted that some Burgundian producers tend to over-fill their bottles during the bottling process which may cause a few drops of wine to become trapped between the capsule and the cork. This should not be confused with ullage, a natural occurrence in older wines, which may be accelerated due to poor provenance.

Wines are described in this catalogue as accurately as possible. Buyers are urged to make allowances for slight variations in ullages and conditions. No guarantee is made regarding provenance.

COLLECTION AND SHIPMENT OF WINES

Limitations on Importation

Bidders should be aware of limitations and restrictions imposed by various states regarding importation of alcoholic beverages, which have been purchased at auction and brought into that state’s jurisdiction from another state. It is the sole responsibility of the purchaser to investigate, apply, obtain, route, and comply with all special permit or license requirements prior to collection or shipment of wines purchased at Kensington’s. Kensington’s assumes no obligation of responsibility for obtaining permits or licenses on behalf of the purchaser prior to shipment. Bidders are urged to familiarize themselves with their respective state’s importation statutes prior to bidding at auction to determine if, when, and how wines may be delivered from the State of Illinois, while remaining in compliance with existing statutes.

Collection of Wine

A valid I.D. is required at the time and place of collection. Under no circumstances will any wine be released to anyone under 21 years of age. Complimentary pick-up is available at East Bank Storage, 429 West Ohio Street in Chicago by appointment only. Please schedule your pick-up by contacting our office by phone, fax or e-mail at least 72 hours in advance. Wines will not be released until payment has been received and funds have cleared our account. If you are paying by check, please expect a five-day delay in the release of your wines.

Local Delivery

A valid I.D. is required at the time and place of delivery. Under no circumstances will any wine be released to anyone under 21 years of age. Kensington’s can arrange delivery within a 10 mile radius of Chicago at a cost of $10 per case or part thereof. Delivery can usually be arranged within three business days, however deliveries are made in order in which requests have been received from purchasers, on a first come, first serve basis. All wines are insured at the hammer price while in transit. Delivery within the State of Illinois is subject to taxation unless the holder of an Illinois State Liquor License presents a resale certificate to Kensington’s prior to purchase. Remittance for delivery charges must be paid in advance.

Shipping

Under no circumstances will any wine be released to anyone under 21 years of age. Shipping will be at the purchaser’s expense, and must be prepaid to the respective freight company, or freight collect. Shipping for your purchase may be arranged once payment has been received and funds have been deposited into our account. Kensington’s will not ship for at least two to four weeks following the auction. International shipments may require customs documentation or special routing attention, therefore, extra time may be required to route such a shipment. Shipments will be arranged in the order in which requests are received, on a first come, first serve basis. Shipments can also be arranged on the customer’s own account such as Airborne, Federal Express, DHL, AIT Freight Systems, Frozen Foods Express, Western Carriers, Midway Freight, or any other ICC licensed air or ground freight carrier. Kensington’s does not ship to all fifty states on its own UPS account, however Kensington’s may assist the customer in routing wines to their respective locations via UPS with a credit card or UPS account number in the name of the recipient.

Kensington’s will assist the customer in choosing and contacting the safest and most cost effective carrier to meet his or her needs. Wines are insured through the carrier while in transit, though wines that are shipped via UPS can only be insured for seven of the fifty United States. Any loss or damage resulting from shipping wines via any carrier will be the sole responsibility and at the risk of the purchaser, though Kensington’s will assist in filing any claims resulting from loss or damage of wines while in transit. Kensington’s will not be held responsible for any deterioration, damage, theft, or breakage of wines, which may occur during transit.

Packing Fees 1 bottle styro $2.50 2 bottle styro $3.50 3 bottle styro $4.50 6 bottle styro $7.50 12 bottle styro $10.00 magnum styro $3.50

Taxation

Wines shipped within the State of Illinois are subject to taxation. Holders of Illinois Liquor Licenses may be exempt from taxation and should present the required documents to Kensington’s prior to purchase. Wines shipped outside the State of Illinois are exempt from Illinois State taxation provided delivery is made by a registered I.C.C. licensed carrier. Taxation is determined by the governing body of the final destination of the shipment. Successful bidders are required to comply with their respective states’ regulations regarding importation and taxation of alcoholic beverages. Please contact our office to arrange preparation of your shipment or request shipping assistance.

Scheduling Shipment

Shipment of wines from this auction will begin no earlier than four weeks following the close of this auction. Kensington’s will not be held liable for timeliness of shipment due to the high volume of wines sold at each auction. Kensington’s will make every attempt to meet the needs of its customers but will not be held responsible for delay of shipment occurring as a result of high volume sales or extreme temperatures. If you need wine to be shipped for a specific occasion, you should check with Kensington’s prior to purchase to see if Kensington’s can accommodate your needs, and if so, make prompt payment arrangements with Kensington’s so we may serve you accordingly.

If applicable to your order, wooden cases are not automatically included with your shipment. If you wish to receive your wooden cases, you must request them upon receipt of invoice.