Auction Terms & Conditions NOTICE: All merchandise will be sold "AS-IS, WHERE-IS" and NO REPRESENTATIONS or warranties of any kind expressed or implied are being made by Auctioneer or Seller with respect to the condition of the merchandise, its fitness for any particular purpose, or the quantities or descriptions or pictures being provided by Auctioneer. Buyers must do their own due diligence including conducting an inspection of the merchandise being auctioned and determining the quantities, descriptions and condition of all such merchandise contained in this catalogue and/or presented at auction. All Bidders agree that they have read and fully understand these terms and agree to be bound thereby. This sale is subject to Assignee and Court Approval. For those bidding on vehicles, please note below certain special terms with respect to the vehicles.
REGISTRATION: To qualify to participate in the Auction, a bidder must enter a valid credit card, provide a copy of the bidder's driver's license and/or otherwise be reasonably approved by Auctioneer to participate in the Auction. Bidders bidding in excess of $25,000 in the aggregate must have provided either (i) a deposit in the amount of 25% of the amount being bid; or (ii) proof of funds/specific bank letter of guaranty (see "Proof of Funds Letter" link in the catalog) and in either case have been pre-approved by the Auctioneer. Please call or email Auctioneer directly if you wish to be approved to bid above $25,000. Auctioneer reserves the right to deny any registered bidder at any time at its sole discretion without notification.
INSPECTIONS: Bidders may inspect the offering at 205 Delancey Street, Newark, NJ on the following dates and times:
Thursday, July 6th from 9AM to 12PM
Friday, July 7th from 12PM to 3PM
or as otherwise posted on Auctioneer’s website or arranged with the Auctioneer.
NOTES ON BIDDING MECHANICS: Please note that this auction has staggered closings, which means that while the auction will start to close at 3:00PM, the auction for each lot will close at a different time and some will close as late as 3:30PM. Furthermore, any lot is subject to a “soft 3-minute close”- which mean the timing of any closing will be delayed by 3 minutes in the event someone places a bid on such lot in the last 3 minutes of bidding. For each additional bid thereafter, the bidding will extend for an additional 3 minutes. This is aimed at preventing sniping in the last moment of any auction. Therefore, bidders are encouraged to bid early and pay close attention at the end of any auction or use the “max bid” function to ensure your bids will be kept up automatically. In addition, please check to see if you are bidding on a "Linked Lot". This means that the ending for the lot is just like a regular soft close mentioned above except that multiple lots are linked together so that if one lot has its bidding extended, all the other lots that are linked will also have their bidding extended.
PAYMENT: The Successful Bidder MUST tender the total purchase price for the item(s) no later than the 2nd business day after the conclusion of the auction to the Auctioneer's escrow account. Time is of the Essence. Such payment MUST be made by wire transfer, bank check, or credit card (credit card can only be used for invoices under $500). The failure to make a timely payment shall be deemed a material default under the terms of the auction. No items can be removed until entire invoice is paid in full. Auctioneer reserves the right to resell buyer's lots at the expense and risk of Buyer. Please keep in mind that a 10% BUYER'S PREMIUM will be added to your final invoice. Entirety Bids must be submitted to Auctioneer in writing prior to that time, together with a 25% deposit. If you are interested in placing a bulk bid on all of the auction lots in the entirety, please contact Auctioneer in advance.
REMOVAL: No goods will be released to the purchaser until the entire invoice is paid for in full. Buyers must remove the merchandise from the premises at their own risk, expense and liability. Auctioneer is not responsible for items that are not removed within the time specified and has the option of dumping, storing or re-selling any item purchased at the expense and risk of the Buyer. You will be assigned a pickup/removal time for your items and must remove your purchased items at such time.
SPECIAL NOTICE FOR VEHICLE PURCHASES: Vehicles and their contents will be sold "AS IS, WHERE IS," with no warranties, either expressed or implied, including, but not limited to, any warranty of use or merchantability. Buyer agrees that all vehicles are being offered "With All Faults." All bidders, including Buyer, are responsible for inspecting vehicles prior to bidding and each bidder represents that it has done so and is being allowed to bid at this auction in reliance upon such representation. Neither Auctioneer nor Seller shall be responsible for any printed errors or omissions in regard to year, make, model or mileage of vehicles or any other defects. The successful bidder must register the vehicle with the state Motor Vehicle Department after purchasing it and assumes full responsibility and costs for affecting the transfer and ownership registration. Seller warrants and covenants that it has title to, and is the true and legal owner of the vehicles being auctioned herein (subject to express exception below); that all vehicles are free from any liens unless otherwise indicated; and that Seller has the power and authority to sell and transfer title to any vehicle, subject to Assignee and Court approval.
In coordination with Auctioneer, bidders are responsible for vehicle transportation/removal of the vehicles from the auction site. Individuals must be at least 18 years old in order to bid on any vehicle. Do not bid on any vehicle unless you understand all the rules of this auction. By bidding, you are acknowledging and agreeing to comply with all the terms of the auction. If you are a winning bidder, you will provide us with a valid address. The original title will be mailed to you via certified mail no later than 45 days from the court confirmation hearing. Vehicle pick-ups must be made on the above referenced posted removal times or by contacting the Auctioneer and making an appointment. Your auction receipt will serve as your bill of sale. PRIOR TO BEING ALLOWED TO REMOVE ANY VEHICLES, THE WINNING BIDDER MUST HAVE TENDERED FULL PAYMENT FOR THE VEHICLES AND PRESENTED VALID PROOF OF INSURANCE TO DRIVE THE PURCHASED VEHICLE.
In the unlikely event that the Court does not confirm the sale, any monies held on deposit will be promptly returned to you. BY PARTICIPATING IN THIS AUCTION, YOU HEREBY ACKNOWLEDGE, AND AGREE TO, THE TERMS AND CONDITIONS SET FORTH ABOVE, AS WELL AS ANY OTHER TERMS/CONDITIONS OF SALE COMMUNICATED TO YOU BY THE AUCTIONEER.
Seller User Terms
Bidder User Terms