Payment
Eliane Talec, (609) 397-9374 ext. 118
Billing
On the fall of the auctioneer’s hammer, title to the property immediately transfers to the successful bidder who, in turn, becomes the buyer. Rago’s sends all winning bidders invoices and information about shipping options, by e-mail or post, within 48 hours on an auction. Buyer payment is due immediately upon receipt of invoice and all property must be paid for and removed from the Rago Arts & Auction Center within 14 business days of the auction. If you have a question about your invoice, please call us immediately. We will explain or correct immediately if there is a problem.
How To Read Our Invoice
Final Sale Price: The amount of your successful bid.
Buyer’s Premium: On every individual lot, a buyer’s premium in the amount of 20% of the successful high bid will be levied up to and including $500,000 and a buyer’s premium of 12% thereafter on any amount in excess of $500,000, regardless of payment method, except through some third party online bidding services. For property purchased through third party online bidding services such as Live Auctioneers and The Saleroom, a buyer’s premium in the amount of 23% of the successful high bid will be levied up to and including $500,000 and a buyer’s premium of 18% thereafter on any amount in excess of $500,000, regardless of payment method.
Taxes: Applicable taxes include New Jersey sales tax (7%), use tax, excise tax, and other taxes or levies. Only valid resale certificates are accepted as proof of exemption from New Jersey sales tax by U.S. dealers. No New Jersey sales tax is charged for purchases shipped out of state.
Payment Options
Rago’s accepts cash (in-house bidding/pick-up only), wire transfers, checks, money orders, Visa, MasterCard, Discover and PayPal. We reserve the right to hold all goods paid for by check until payment has cleared.
Late Payment
If payment is not received within thirty (30) days of sale, the Auction House reserves the right to impose from the date of sale a late charge of 1 1/2% a month of the total purchase price and deny all future credit.