TERMS OF SALE – August 26, 2014 Scorpio Jewelry
NOTICE: By bidding on any lot you are creating a contract to buy. Failure to pay for any lot won
will be a breach of your contract. The Auctioneer and Salvadore Auctions & Appraisals, Inc.
reserves all rights to remedy any breach of contract by any bidder. All persons, bidders,
interested parties, registered bidders or persons intending to register, view, inspect, bid or
purchase any personal property, inventory, equipment, lot or item (collectively the “Equipment”) at
this auction
sale agree that they have read and have full knowledge and understanding of these terms and agree
to be bound by these terms. All persons attend this sale at their own risk. Within these Terms of
Sale, “Auctioneer” means “Salvadore Auctions & Appraisals, Inc.” including its officers, directors,
employees, agents and assigns”. “The Seller” means Scorpio Jewelry, including his officers,
directors, attorneys, employees, agents and assigns. Equipment means any item(s) offered for bid or
for sale. “Purchaser” means bidder, registered person, company or business.

1) IDENTIFICATION OF BIDDER: All purchasers are required to give full name and address and present
identification upon demand and shall sign the within terms of sale.

2) DEPOSIT: To qualify to bid, each purchaser or bidder will be required to make a refundable $100
deposit.

3) TIME OF PAYMENT AND SETTLEMENT, BUYERS PREMIUM: All bills and/or invoices due must be paid and
received in full in US Dollars by Auctioneer at the conclusion of the auction held on August 26,
2014. Title shall pass after full payment has been received by the Auctioneer or its agent via the
usual and customary form of bill of sale. METHOD OF PAYMENT: cash, valid credit card with executed
authorization form, known check with proper ID. ALL SALES FINAL REGARDLESS OF MANNER OR METHOD OF
PAYMENT. BUYERS PREMIUM: A Eighteen percent (18%) Buyers Premium will be charged and shall apply to
all lots sold. A three percent (3%) discount will be allowed for payment in cash or approved check.
Successful online bidders will be
subject to a additional three percent (3%) buyers premium. SALES TAX: All items are subject to RI
Sales Tax unless a copy of your resale certificate or a blanket exemption is received at time of
invoicing. Auctioneer has not taken possession of Equipment being offered at auction and is acting
as an agent of the Seller only.

4) CONDITION/REPRESENTATION OF EQUIPMENT SOLD: The Auctioneer and the Seller shall not be
responsible for the accuracy or correctness of the description of the Equipment. The Auctioneer and
the Seller shall not be responsible for the authenticity of nor defect in any Equipment and make no
warranty or representation of any kind whatsoever either expressed or implied in connection with
any Equipment being sold or presented for sale. No deductions, allowances, returns, credits, or
reimbursements will be allowed for any equipment damaged. All Equipment is sold strictly “AS IS”,
“WHERE IS”, “WITH ALL FAULTS” and without recourse. No Equipment sold
or presented for sale is warranted as merchantable or fit for any specific or particular purpose or
use. No claims may be made by any purchaser that relate to the fitness, use or condition of any
Equipment purchased or for any damages whether consequential or otherwise which arise therefrom.

5) METHOD OF PAYMENT: All checks, deposits, balances due shall be made payable to the order of
Salvadore Auctions & Appraisals, Inc. All bills and invoices must be paid to an authorized
representative of the Auctioneer unless other arrangements, terms or procedures are announced. The
full purchase price, including Buyer’s Premium, appropriate Sales and/or Use Taxes on all lots sold 

must be paid at the conclusion of the auction on August 26, 2014. All payments must be made via
cash, bank check, certified check and/or wire transfer or authorized credit card.

8) NO CREATION OF BAILMENT: The relationship between the Auctioneer, Salvadore
Auctions & Appraisals, Inc and the buyer is not bailment.

7) REMOVAL & SECRUITY OF LOTS PURCHASED: THE SECURITY OF ANY LOT WON LIES WITH THE PURCHASER AND
BEGINS WITH THE FALL OF THE HAMMER. All purchases must be removed by August 29, 2014 unless
alternative time frame has been agreed to in writing by the Seller and the bidder. Internet bidders
please contact the auctioneer for shipping. All small items of Equipment should be removed
immediately following the conclusion of the sale. No Equipment shall be removed during the sale.
Unless agreed to in writing by the Seller and the Purchaser, Seller shall not assist in the
movement, loading, removal or
relocation of any equipment. Removal shall be at the sole expense, risk, liability and
responsibility of the purchaser. Auctioneer shall not be responsible under any circumstances for
any Equipment not removed within the time allowed. Auctioneer shall not be responsible for loss
resulting from storage on or at auction site after conclusion of sale. Failure to remove any
Equipment purchased by August
29, 2014 shall be deemed to be abandonment of such Equipment and the Seller or Auctioneer shall be
entitled to dispose of such Equipment for its own account and in any manner it chooses, unless
otherwise agreed to in a writing signed by the Seller and the Purchaser. All Equipment left on the
premises after the close of the auction are left at the sole risk of loss by the purchaser. Any
rigger, mover, crane operator, person or entity engaging in the removal, dismantling or
transportation of any lot from this site for hire shall present a valid insurance certificate
demonstrating coverage of US
$2,000,000.00 to the Seller prior to commencement of any work on the premises. Auctioneer will have
supervision of the Equipment during normal business hours only and will cease to have supervision
of the Equipment after August 29. 2014.

7) INDEMNIFICATION: The undersigned agrees to hold the Auctioneer, Salvadore Auctions & Appraisals,
Inc., and the Seller, along with their respective agents, officers, directors, shareholders,
partners, members or affiliates harmless, now and forever, from and against all liabilities,
claims, damages, or actions relating to or arising from the condition or use of the Equipment
purchased, or from the failure of the purchaser or user to conform to or follow instructions,
warnings, operating or other recommendations of the manufacturer, or failure to comply with state,
federal or local law(s) applicable to such articles, lots or items, or from any damages whether
consequential or otherwise, and any and all costs or legal expenses arising from any liability,
claim or action.

8) SALE BY ESTIMATED WEIGHT, COUNT OR MEASURE: Quantities presented in the auction catalog are
estimations only and not warranted as fact. No deductions or allowances will be made by the
Auctioneer or the Seller in regard to the inventory count of any item. No metal or lot of metal is
being sold, represented or warranted as certified to any specification of alloy of composition
whatsoever.

9) RESPONSIBILITY OF NON- DELIVERY: Auctioneer shall not be responsible to any party for
non-delivery.

10) RISK ASSUMED BY PERSONS, BIDDERS AND PURCHASERS: All persons whether purchasers, attendees, or
interested parties attending the sale or the inspection assume all risks of damage or loss to
person and property and release the Auctioneer, Salvadore Auctions & Appraisals,
damage or loss to person and property and release the Auctioneer, Salvadore Auctions & Appraisals, 

Inc. from any and all liability. The Auctioneer shall not be liable for any defect in or condition
of the
premises upon which the auction, inspection or move out is held. All persons attending this sale do
so at their own risk and hereby release the Auctioneer from any and all claims arising from
attendance at this auction and hereby hold harmless the Auctioneer Salvadore Auctions & Appraisals,
Inc. from all damages, costs, expenses and claims arising from any action or cause of action
arising from this sale.

11) ADDITION TO/WITHDRAWAL FROM SALE, METHOD OF SALE: Auctioneer reserves the right to add or
withdraw items, articles or lots from the sale whether listed or not, and reserves the right to
group, split, combine or divide lots in to larger or smaller lots wherever the best interest of
the Seller is served. The Auctioneer reserves the right to accept or reject, for any reason, any
and all bids.

12) DISPUTE BETWEEN BIDDERS: Auctioneer reserves the right to put up for resale or decide winner
should a dispute among bidders arise. The Auctioneer’s decision shall be deemed absolute and final.

13) RECORDS/AGENCY: The record kept by the Auctioneer or clerk shall be final in the event of
dispute.

14) DEFAULT OF PAYMENT: Should purchaser default on payment for any reason or fail to pay bills in
full by the conclusion of the auction on August 26, 2104 and/or by failure to remove the Equipment
by August 29, 2014, Auctioneer and the Seller shall be entitled to, and in addition to any and all
other remedies under applicable law, retain all monies received as deposit, partial payment or
otherwise as liquidated damages. Any Equipment not removed within the fixed time above may be
resold at a future sale whether public or private sale without further notice. All expenses,
balances due, charges of resale, including reasonable attorneys’ fees and expenses incurred by the
Auctioneer will be charges to and be the responsibility of the undersigned.

15) ADDITIONAL TERMS AND CONDITIONS: Auctioneer may add additional terms and
conditions to the sale. Such terms shall take precedence.