Auction Terms & Conditions
Auction Terms & Conditions
******BACKPACKS AND/OR PURSES WILL NOT BE PERMITTED AT PREVIEW******
Any persons participating in the sale (herein referred to as "Buyer") shall be bound by these terms and conditions.
1. BUYER'S PREMIUM: A premium of 18% of the bid price will be added to the price of each item purchased.
2. ACCEPTABLE PAYMENT FORMS: Cash, Cashier's Check (made payable to Brian Testo Associates, LLC) or Wire Transfer (Only) Credit cards are only accepted for security deposit. Credit card deposits will not be applied to invoice.
3. SECURITY DEPOST REQUIREMENT "ONLINE" REGISTRATION- $500.00 Credit card deposit is required upon bidder registration with Auction Flex. This deposit is fully refundable upon full payment of invoice. If payment is not made on time, the deposit will not be refunded. THIS DEPOSIT WILL NOT BE APPLIED TO PURCHASES. Credit Cards will be accepted for the security deposit ONLY.
4. SECURITY DEPOSIT REQUIREMENT FOR OUT OF COUNTRY BUYERS: $2500 (Wire Transfer ONLY) refundable security deposit required prior to buyer approval. Wires must be posted prior to the start of the auction.
5. Buyer acknowledges and accepts that full deposit will be refunded once Buyer has made full payment using the Acceptable Payment Forms described in section 2, or if the Buyer did not win any bids. In the event that Buyer fails to pay invoice in the time outlined in section 6, Buyer expressly agrees and grants Brian Testo Associates the irrevocable right to retain the full deposit and waives their right to a chargeback. All other terms of this agreement related to failure to pay also applies.
6. Purchases must be paid in full by 12:00 pm Thursday, November 10, 2016. Invoices will be emailed at the conclusion of the sale. Payment Method: cash, cashier's check or wire transfer ONLY. No checks or credit cards will be accepted. Cashier's checks must be made out to Brian Testo Associates, LLC. If purchases are not paid in full within 24 hours, the merchandise will be deemed abandoned and Buyer will lose the security deposit any right, title or interest Buyer may have acquired and the merchandise shall revert and repossess to Auctioneer without further notice to Buyer and the transactions shall be null and void as to Buyer. Security deposit will not be refunded. A successful bid at auction constitutes a legally binding contract of sale. All bids are final.
7. Check out is from 9:00am to 4:00 pm, Thursday, November 10, 2016 and Friday November 11, 2016. This is done on a "first come-first served" basis. Appointments are not made for pick up. You may need to wait. The Buyer is solely responsible for the cost to remove, disassemble, load and/or freight costs to remove any auction sale purchases. Auctioneer not responsible for damaged or broken items. Purchased items not picked up prior to the end of check out will be forfeited and refund will not be offered.
8. Applicable Tax
" As required by law, Brian Testo Associates shall collect and Buyer shall pay all sales/use taxes or other applicable taxes.
" If merchandise purchased is for resale, buyer must provide valid resale number and complete a resale certificate, at time of sale. *Forms available on our website*. If at a later date, up to three years after this sale commences, the California State Board of Equalization determines that this sale was not for resale; buyer will be responsible for all applicable sales tax and fees or fines as determined by the State Board of Equalization.
" If the purchase is being shipped out of state, buyer may be exempt from the sales tax. Sales tax will be charged at time of purchase unless buyer can provide proper documentation from carrier (person or firm regularly engaged in the business of transporting for compensation tangible personal property owned by other persons, and includes both common and contract carriers), customs broker or forwarding agent whether hired by purchaser or not, for shipment to such out-of-state point. If proof cannot be provided at time of sale, buyer will be charged tax and when proof of shipment by carrier is provided (i.e.: a weigh bill or bill of lading), buyer will receive a refund for tax paid.
9. Bids are Final: Each Buyer hereby expressly acknowledges and agrees that once submitted a bid, whether online or live, shall be binding on the Buyer who submitted such a bid and no bid may be retracted by a Buyer or other party. If Buyer fails to pay the entire purchase price by the payment deadline, Auctioneer will retain any security deposit as liquidated damages for such failure. In addition, Auctioneer may, at its discretion, either resell Buyer's items at a public or private sale without further notice to Buyer and/or dispose of the item at Buyer's sole expense. Any difference between the bid price for an item by the defaulting Buyer and the price received by Auctioneer at a resale shall be paid to Auctioneer by the defaulting Buyer.
10. Each Buyer hereby further expressly agrees that, whether each such Buyer is acting as a principal, an agent, or an officer, director, or other representatives of an entity, or in any other capacity whatsoever, each such Buyer is personally liable for and shall be bound to remit payment of the purchase price, buyer's premium, taxes and any other amounts payable with respect to any and all Assets for which the Buyer is the successful Buyer at the Sale.
11. The condition of the merchandise being offered varies. Buyer is responsible for inspection and to complete all due diligence prior to bidding. The Buyer understands and agrees: (1) that any description or sample of the merchandise given or furnished by the Auctioneer is derived from records, documents or other information that may be unverified as to accuracy, and is solely for identification, and does not create any warranty, expressed or implied, that the merchandise actually conforms to such description or sample; (2) that all merchandise is purchased and accepted by Buyer "AS IS" "WHERE IS" and "WITH ALL FAULTS." AUCTIONEER MAKES NO WARRANTIES OR GUARANTEES WHATSOEVER WHETHER WRITTEN, ORAL OR IMPLIED AS TO QUALITY, QUANTITY, CONDITION, USEABILITY, SALEABILITY, WEIGHT, MEASUREMENT, YEAR, MODEL, MECHANICAL CONDITION, PERFORMANCE, OR OTHER SPECIFICATIONS. MANUFACTURERS WARRANTIES MAY BE IN EFFECT. All sq. footage, counts and measurements are approximate. SOLD AS IS!
12. Auctioneer reserves the right to group, reduce, add to or delete lots. In the event there is a dispute between two or more claims of entitlement as the successful Buyer, Auctioneer reserves the right to re-auction the item in dispute.
13. Any announcements made on the day of the auction take precedence over catalog or other previously announced or documented information, but do not alter in any way the basic terms and conditions of sale.
14. No checkout will be permitted during the auction sale. All purchases must be paid in full before merchandise will be released from the premises.
15. Any Buyer, employee or third party representative, authorized to perform work on the premises or to remove any purchases, will be required to show proof of liability insurance and Worker's Compensation coverage before the removal shall be permitted to commence. *Certificate of Insurance available on our website*
16. Buyer is solely responsible to provide all personnel, equipment or material needed to pick up purchases and shall assume all responsibility for the removal of any item of property purchased at the sale and any and all risks associated with such removal including, without limitations, full financial responsibility for any damage or liability to persons or property resulting from any negligent act or omission of buyer or any buyer's employees, agents and/or representatives during pick-up and removal.
17. Buyer agrees that in the event purchased merchandise contains any environmental hazards, toxic waste or other type of hazardous material in any form whatsoever, Buyer shall provide evidence that Buyer or its representatives are licensed for such removal and shall comply with all applicable local, state and/or federal rules, laws and regulations. Auctioneer, its agents or representatives shall not be responsible for its containment, storage or removal.
18. Buyer will be responsible to have all equipment inspected and retrofitted, if necessary, to have equipment meet all Osha standards prior to using or reselling the equipment.
19. Persons in attendance during inspection, sale or removal of merchandise assume all risks of damage or loss to persons, property, or merchandise and shall exercise proper precautions at all times for the protection of persons and property and shall comply with all safety and health requirements as provided by and local, state and federal regulations, and as directed by Auctioneer. Neither Auctioneer, its agents, its employees nor representatives shall be liable by reason of any defect in or about the condition of the premises on which the auction is held. Buyer specifically releases Auctioneer, its agents and representatives from all liability thereof.
20. In no event will Auctioneer's liability to Buyer exceed the purchase price actually paid. A Buyer's claim shall be limited to the amount paid for the merchandise, and shall not extend to any obligation; risk; liability; right; claim; remedy for loss of use, revenue or profit; liability of Buyer to any third party; personal injury; or any other direct; indirect, incidental or consequential damages.
21. Buyer expressly agrees to hold Seller and Auctioneer harmless and expressly waives all claims against Seller and Auctioneer for any damages in the event Buyer fails to remove the purchased items from the premises by the time set forth in section 5 of the terms and conditions (see above), Buyer hereby expressly agrees that its failure to remove the property from the premises by the time set forth in section 5 of the terms and conditions (see above), shall signify its consent, without any further notice to Buyer and instruction to Seller and Auctioneer, that Seller and Auctioneer are authorized by Buyer to remove the purchased items from the premises and to dispose of the same as Seller and Auctioneer shall in their sole discretion determine. Buyer hereby authorizes the payment of all costs and expenses associated with the dismantling, removal and sale from the purchase price proceeds paid by Buyer. Buyer hereby waives the right to the return of the Buyer's premium and agrees to reimburse Seller for all commissions paid on the sale to Buyer.
22. Buyer agrees to indemnify, defend and hold harmless Auctioneer and its agents and representatives, from any and all demands, claims, losses, damages and liabilities asserted against, resulting to or imposed upon Auctioneer resulting from the negligence of Buyer or his/her employees, agents and representatives, while in, at or about the auction premises during the inspection, sale or removal of merchandise.
23. Buyers' paddles are nontransferable. All bids made by the holder of the paddle will be the responsibility of the Buyer assigned to paddle. A successful bid at auction constitutes a legally binding contract of sale.
24. If any applicable conditions are not complied with by Buyer, then, in addition to other remedies available to Auctioneer, including and without limitation, the right to hold Buyer liable for the total purchase price, Auctioneer may, at its option, (a) cancel the sale, retaining all payments made by Buyer, and/or (b) resell the merchandise at public auction without reserve in which event Buyer will be liable for the cost of removing and reselling the abandoned merchandise, for any deficiency between Buyer's original purchase price and subsequent resale price, Auctioneer's commission, and all other expenses related to the disposal of the abandoned property. In addition, a defaulting Buyer will be deemed to have granted Auctioneer a security interest in the merchandise, which Auctioneer may retain as collateral security for Buyer's obligation to Auctioneer.
ALL SALES ARE FINAL. ABSOLUTELY NO REFUNDS OR RETURNS
FAILURE TO COMPLY WITH THESE TERMS WILL RESULT IN FORFEITURE OF ALL DEPOSITS OR MONIES PAID AS LIQUIDATED