AUCTION RULES, INSTRUCTIONS and TERMS OF SALE

Registration: You are welcome to browse the website without registering or bidding. However, you must register in order to bid in this auction. You can register online or by telephone. We will confirm your name, address and phone number(s) and ask what method of payment you prefer, if successful in the auction.

How the auction ends: The auction is open for bidding to registered bidders as soon. Beginning at 11pm EST on Saturday, June 2nd, 2007 we will track the time that elapses between new bids that come in. The entire auction (all lots) will remain open for bidding until we receive no new bids on any item, either by internet or phone, for a period of 5 minutes. At that point the entire auction (all lots) will close for bidding. All items remain open for bidding until the entire auction closes at once. This ensures that everyone will have the time and ability to bid on whatever you desire without the fear of bid snipers or the auction ending while you're watching another item. We expect that the auction will run into the early morning hours so consider the options listed below, especially leaving a maximum bid and/or callback request.

Inspection / Consultation: We will be happy to give detailed information by telephone for any lots in this auction prior to Saturday, June 2nd, 2007. On June 2nd we will try to accommodate you but cannot promise that time will allow. Please ask any questions as early as possible. We will be happy to set up in-person inspections, by appointment, to any serious inquiries.

Placing a bid: You may bid by fax, email or mail until 8pm on Saturday, June 2nd, 2007. After 8pm ONLY on-line AND/OR telephone bids from registered bidders will be accepted. If an item has not yet been bid on you must bid at least the stated. If someone has already bid on that item but the current bid is below $5,000 you must bid at least 10% above the current bid. On items that are at or above $5,000 the increment will be 5%. By bidding in this auction you acknowledge having read, and that you agree to be bound by, the terms of sale and conditions, and further, accept these terms and conditions without reservation.

Minimum bids: Each item is listed with a minimum opening bid. Only a handful of items have hidden reserves and they are clearly indicated in our printed catalog by and asterisk after the minimum bid and note about the reserve and on our website by the words "Reserve Not Met" on the appropriate items. Once the reserve is reached the website will let you know by removing the RESERVE NOT MET on that item. All other items may be won at the opening bid if you are the sole bidder on that item.

Maximum, absentee & proxy bids: We expect the auction to run well into the early morning hours so we are willing to bid on your behalf, in the event that you are not able to place the bids yourself. If you are not outbid you will win the lot for the lowest possible bid, even if your maximum is higher. For example, Say that you tell us that you are willing to bid up to $4,000 on an item that has a bid of $1,500 and no one else bids, you will win the item for $1,500. If someone else were to bid $2,000 on the item you would still be the high bidder, now at $2,200 ($2,000 plus 10%). Maximum bids are kept in the strictest confidence. "Buy orders" or unlimited bids will not be accepted. You must specify the maximum you are willing to bid. All maximum bids should be made in the proper bid increments to avoid tie bids. If the maximum amount you specify is not enough to reach the next bid increment necessary, we will not execute the bid unless you authorize us to round up your bid to the next required increment (to a maximum of 10%). This applies to mail and faxed BIDS ONLY . Our online system uses a proxy bid system similar to ebay.

Checking bids: You are welcome to check on, open or raise bids as often as you wish. No bids will be accepted once the auction has been declared closed by the auctioneer.

Call backs: If you bid by phone or fax and request a call back we will be happy to give you a call back on any lot with a bid over $500, in the event that you are outbid. As we will make call backs periodically we cannot guarantee that you will get a call back immediately upon being outbid, but we will do our best to make call backs as promptly as possible. We cannot be held responsible if we are not able to reach you at the number(s) or time(s) specified. You must provide correct evening contact information and be available. Please advise us if there is a time after which we should not call.

Winning notification: Please do not call in the days immediately following the auction for results as we will be using this time to post prices realized on the web and print and mail invoices. Auction results are available to anyone who sends a stamped self addressed envelope with a request. All winning bidders will receive the prices realized for the entire auction. Payment is required within 14 days of invoice date. After 30 days a late interest fee of 2% per month is charged. After 60 days we reserve the right to void the sale, unless credit arrangements are made prior to auction close.

Grading: We strive to describe every item very accurately by giving a grade, a verbal description and photos. We use the following terminology: GD = Good, VG = Very Good, EX = Excellent, NRMT = Near Mint and Mint, which may be further modified by plus (+) or minus (-) signs. We are always happy to answer any questions you may have about any items, just call or email.

Terms of Sale: There is a 20% buyer's charged in this auction!! Placing a bid is a contractual obligation and no bids may be withdrawn at any time, no exceptions!

Payment methods: Cashier's checks, money orders and wire transfers are our preferred methods of payment and enable us to process your orders most efficiently. We accept cash, checks, certified checks, wire transfers, Visa, Mastercard, American Express and Discover. All invoices must be paid within 14 days of the invoice date. Prompt payment of invoices is essential to both an orderly reconciliation of the auction and timely consignor payments. Terms are available. You MUST make prior arrangements to pay out, layaway or delay any payments. Advance notice is required for banking procedures before the close of sale. Any bidder who has not paid in full without making prior arrangements for late payment can have their future bidding privileges revoked! In addition, after 21 days past invoice date both a 2% per month interest fee plus storage and insurance charges will be added to your invoice. Personal and company checks will delay shipment until payment has cleared our bank. No special arrangements are available without the approval of our credit department. It's Only Rock n Roll shall be entitled to charge late and / or interest charges at up to the highest rate permitted by law, as well as attorney's fees and other collection costs incurred by us, on any past due accounts.

Sales Tax: It's Only Rock n Roll shall collect applicable sales tax for any items delivered in New York. Bidders who claim tax exempt status from the sale or use tax charges must deliver a properly executed exemption certificate before the auction. Bidders agree to indemnify and hold harmless It's Only Rock n Roll from any such tax and liability.

Expert Shipping and Packing: Lots are shipped in 7 - 10 days following receipt of cleared funds totaling payment in full for your entire winnings. Certified funds, money orders and credit card payments usually ship within 48 hours of receipt. Bidders must pay for packing, shipping and insurance costs for all items they win. We do not profit from shipping. International orders will be declared at the full invoice amount, with no exceptions. Buyer is responsible for all duty and customs charges. Items may be picked up in person, by appointment, after payment, in cleared funds, has been received. All items are shipped from our location in Huntington, N.Y.

Guarantees / Authenticity: We guarantee that all items offered are as described in the catalog or as amended on the auction website. All autographed items are unconditionally guaranteed genuine without time limit. If a lot is declared to be not authentic, we may, at our discretion, ask for the written opinion of one competent authority acceptable to us. We will refund the purchase price after documentation has been submitted. The buyer's only remedy under this guarantee is the cancellation of the sale and the refund of the purchase price. Non-autographed items are subject to the same guarantee as above, however claims must be made within 30 days of receipt of items(s) by buyer in writing. No exceptions. No returns will be accepted after 30 days for any reason.

Returns: All sales are final. No returns are accepted. Bidders are welcome to inspect and view any item in the catalog in person, by appointment, as per the instructions in the Terms and Conditions of Sale. All items are sold as described. Please ask any and all questions prior to bidding as bids may not be cancelled.

Disputes: In the event of disputes regarding either the existence or amount of bids It's Only Rock N Roll may rescind the sale of that lot and re-sell it or otherwise directly dispose of the lot at our sole discretion. In all cases It's Only Rock N Roll's decision is final. It's Only Rock N Roll is not responsible for errors in bidding. Mistaken bids will not justify the rescission of the sale.

Consignors: Consignors are not allowed to bid on or withdraw their own lots. Initial results will be mailed to all consignors within 72 hours of the auction close.

Our rights: We reserve the right to postpone the auction for a reasonable period of time as the result of a significant unavoidable event (i.e. Acts of God).

Disclaimer: It's Only Rock n Roll is not responsible for computer or human error which may result in customer dissatisfaction but we will do our utmost to resolve any problems. After all, your satisfaction is #1.