Auction Terms & Conditions These are the complete Terms and Conditions on which all assets are offered for sale, subject to amendments and modifications announced by the Auctioneer at the time of the auction. By bidding in this auction, prospective bidders agree to be bound by and comply with the following Terms & Conditions and acknowledge and agree that they are being allowed to participate at this auction in reliance of such agreement.
1. Thank You For Participating In This On Site/Web Simulcast Auction.
2. REGISTRATION. In order to participate in this auction, all onsite bidders must register in person and obtain a bidder number. Online bidders must be registered with: www.bidspotter.com and approved for bidding by auctioneer. All bidders must provide a driver's license or other form of government issued identification. By registering you represent and warrant that any and all Buyer information is correct. Auctioneer reserves the right to deny any registered bidder at any time at its sole discretion without notification.
3. INSPECTIONS: Bidders may inspect the offering (i) on Tuesday December 3rd from 11:00 AM ET to 4 PM ET; and (ii) one hour before auction from 10:00 AM ET to 11:00 AM ET on Wednesday, December 4th. You may only be able to inspect the offering during these time periods. The auction starts at 11AM ET, so please give yourself enough time prior to the start of the auction to inspect the lots you are interested in.
4. AS-IS WHERE-IS SALE. ALL SALES ARE FINAL, ON AN "AS IS WHERE IS", "IN PLACE" "WITH ALL FAULTS" BASIS WITH NO CONDITIONS OR WARRANTIES WHETHER EXPRESSED, IMPLIED, STATUTORY OR OTHERWISE, INCLUDING WITHOUT LIMITATION, WARRANTIES OR CONDITIONS AS TO TITLE, DESCRIPTION, FITNESS FOR PURPOSE, QUANTITY, QUALITY, MERCHANTABILITY, STATE, CONDITION, LOCATION OR OTHERWISE. NO SALE SHALL BE INVALIDATED AND THE AUCTIONEER SHALL HAVE NO LIABILITY FOR A MISDESCRIPTION OF ANY ARTICLE OR LOT WHETHER CONTAINED IN A CATALOGUE, ADVERTISEMENT, ORAL ANNOUNCEMENT OR OTHERWISE.
5. DESCRIPTIONS. THE AUCTION CATALOGUE IS MERELY A GUIDE. DESCRIPTIONS HAVE BEEN PREPARED IN GOOD FAITH FOR GUIDE PURPOSES ONLY AND SHALL NOT BE RELIED UPON BY THE PURCHASER FOR ACCURACY, GENUINENESS, AUTHENTICITY OR COMPLETENESS. PLEASE INSPECT ALL ITEMS BEFORE BIDDING. PURCHASERS SHALL BE DEEMED TO HAVE RELIED ENTIRELY UPON THEIR OWN INSPECTIONS AND INVESTIGATIONS. IN ADDITION, AUCTIONEER RESERVES THE RIGHT TO ADD, ALTER, OR REMOVE ANY ITEM(S) TO OR FROM THE AUCTION AT ANY TIME.
6. DEPOSITS. At the knockdown of the bid, all onsite bidders must immediately tender a twenty five percent (25%) cash deposit. Onsite bidders may wait until they checkout to make any deposit payment.
7. PAYMENT IN FULL. Invoices for payment of full amount owed will be issued promptly after the auction. All invoiced amounts must be paid in full no later than the second business day after auction. TIME IS OF-THE -ESSENCE with respect to such date. ALL SUCCESFUL BIDDERS AGREE TO TENDER PAYMENT IN FULL BY MONDAY DECEMBER 9TH AT 12PM. NOTHING SHALL BE REMOVED FROM THE PREMISES UNLESS AND UNTIL A BIDDER HAS PAID ALL OF ITS INVOICES IN FULL.
8. FORM OF PAYMENT. Only cash, cashier’s checks, pre-approved business checks and credit cards (up to $2,500) will be accepted. Non-certified BUSINESS checks accepted only when accompanied by a valid bank guarantee letter. Such letter must be on Bank Letterhead and state the following:
This Bank hereby guarantees payment of checks payable to Auction Advisors from: [NAME OF CUSTOMER/BIDDER] on Account # _____________. up to a maximum amount of $_________. This letter is valid for purchases made at an auction held December 4th, 2019.
For pre-approval, please fax all letters to 212-202-6267 or email to firstname.lastname@example.org. Bring a copy of this letter to the auction and submit to the cashier.
9. CREDIT CARD FEE. Payments by way of Credit Card will ONLY be accepted for purchases and deposits which do not exceed $2,500, subject to Auctioneer’s discretion. An administration fee of 5% shall apply to credit card purchases.
10. REMOVAL TIMES TO BE SET BY AUCTIONEER. To prevent error in delivery, nothing may be removed during the auction. Removal will be in accordance with a schedule posted/announced by Auctioneer. REMOVAL OF ITEMS MAY BEGIN AT THE CLOSE OF AUCTION ASSUMING PAYMENT IS MADE IN FULL. Removal will continue Thursday December 5th, Friday December 6th, Monday December 9th and Tuesday December 10th. Removal times are 10AM to 4PM.
11. REMOVAL MUST BE DONE IN A COMMERCIALLY REASONABLE MANNER. All successful bidders and/or their agents must sign a Waiver & Release prior to any dismantling or removal which must be done in a commercially reasonable fashion.
12. REMOVAL AT BIDDERS COST AND EXPENSE. All items must be removed by the successful bidder at their own cost and expense. After the time frame set forth on Auctioneer schedule of move-out dates, the Auctioneer will no longer be responsible. Please be forewarned that in the case of a default, the auction company reserves the right to resell any and all unclaimed items and the defaulting bidder will not only forfeit his deposit but bear the responsibility of any shortfall in case of resale, and also all costs and expenses associated with the default as well as all auctioneer’s fees and commissions.
13. ALL BIDS ARE FINAL. All sales shall be concluded as indicated by the Auctioneer and no Purchaser may thereafter revoke their bid. Title to the lots purchased shall not pass until payment in full of the purchase price is received.
14. BUYER’S PREMIUM. A ten percent (10%) buyer’s premium is in effect for all successful onsite bidders at this auction. A fifteen percent (15%) buyer’s premium is in effect for all successful online bidders at this auction.
15. TAXES. Federal, state and local taxes, if applicable, will be the responsibility of the purchaser and collected by the auction company at time of payment. Any purchaser who claims a tax exemption status must provide acceptable proof. If proof is not acceptable, the purchaser shall pay all appropriate sales tax.
16. AUCTIONEER FINAL ARBITER. The Auctioneer is the final judge in case of a dispute. Any announcement made by the auctioneer at the time of the auction will take precedence over any previously printed materials, including the ability to reject any and all unreasonable bids, entertain a bulk bid, mini bulk bid, and or alter bidding increments at any time.
17. BIDDER PARTICIPATION. All bidders must be at least 21 years of age. The auctioneer reserves the right to deny admission to the auction to any person the auctioneer deems to be abusive, disorderly, intoxicated or non-compliant with the terms and conditions for the auction, or a potential threat to be such. The auctioneer also reserves the right to deny registration to any online bidder who does not qualify to bid.
*Please Note: The Auctioneer does not pack, ship, store, crate or rig items. Buyers may either pick up their items at the designated auction site personally or can arrange for a third-party logistics firm to manage the removal process for them. If someone other than the registered buyer at the sale is designated to pick up those purchased assets, the buyer must contract with an independent logistics firm or other representative who will dismantle, crate, pack, load and/or ship your purchased items; coordinate the removal of those purchased items to meet the time deadlines indicated of this auction and authorize the auction company to release items to a third-party contractor for shipping, crating or packing purposes. Since the auction company does not ship the items, we do not obtain/prepare any export licenses/documents. Further, the auction company is not affiliated with any machinery rigging, transport or export company. We provide the names and contact information of available companies solely as a courtesy to our buyers. The auction company does not endorse or guarantee the services of any machinery rigging, transport or export company, and cannot be held responsible for any damage, omission or other problems incurred as a result of the actions of those companies.
Seller User Terms
Bidder User Terms