1. BUYER'S PREMIUM: A 15% Buyer's Premium will be added to all winning bids on all sales. This will be reflected on buyer's final invoice.
2. OUT-OF-COUNTRY BIDDERS: All bidders residing outside the United States must wire transfer a $7,500 deposit 5 days prior to auction. Once deposit is received, bidder will be approved to bid online. The deposit is refundable within 3 business days of the close of the auction if the bidder is not the high/winnng bidder on the item.
3. CURRENT PHONE NUMBER REQUIRED: Bidders must provide a valid telephone number which will be verified prior to bidder approval.
4. PAYMENT TERMS: Cash, cashier's check or wire transfer ONLY within 24 hours of close of sale. No credit cards will be accepted. Company checks accepted ONLY with bank letter of guarantee. Specific bank letter content requirements available from Auctioneer. Full payment must be made prior to removal of purchases. Wire transfers for balances due can be made to Asset Reliance, Inc. Contact auctioneer for information. In order to insure proper credit, it is important to include the name of the auction, your name and your buyer number in the wire transfer instructions.
a) In the event the purchaser fails to pay the purchase price within the time limits set forth in these stated terms and conditions or fails to comply with any of the terms of the sale, the seller may resell at public or private sale any and all of the purchaser's merchandise in the possession of auctioneers. Purchaser hereby agrees to pay any deficiency resulting from such resale together with all charges, fees and expenses in conjunction with such resale and further agrees that auctioneer may retain the auction deposit to be applied to any such deficiency.
b) For any purchase paid in cash of $10,000 or greater, the buyer is required to complete a United States
Treasury Department Form 8300. These forms are available from the auctioneer and must be
completed and returned to the auctioneer at the time of purchase.
5. SALES TAX: Sales taxes will be added to the purchase price of all taxable items. Dealers who purchase
for resale must pay the sales tax or provide resale number and completed certificate (California: Form bo3230.pdf). Dealers who purchase for resale must be buying items which are congruent by the nature of their specific business.
a) NOTE: Out-of-State buyers are NOT exempt from California state sales tax unless the purchase is
removed from auction site by common carrier and delivered directly to buyer's out of state address. (See
item #16 for more details)
6. CHECK OUT DATES: Check out will begin Thursday, February 1, 2018 from 9:00 a.m. to 4:00 p.m.
and will continue through Friday, February 9, 2018 from 9:00 a.m. to 4:00 p.m. with the exception of the weekend of February 3-4.
7. CHECK OUT HOURS: 9:00 a.m. to 4:00 p.m. as noted above.
8. Items may be offered in units of piece, pound, feet or in bulk to the highest bidders.
9. Items will be sold on an "as-is, where is basis without any warranty expressed or implied whatsoever". All sales are final. Purchaser agrees to pay all costs of removal and purchaser does hereby indemnify and hold harmless auctioneers and seller for any and all damage, claim or liability for injuries to persons or property caused by the removal of items purchased. Bidders are strongly advised to inspect assets at the sale preview dates.
10. Buyer is solely responsible to provide all labor personnel, equipment and material needed to pick up and remove 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 of buyer's employees, agents and/or representatives during pick-up and removal. NOTE: FORKLIFT SOLD IN THE AUCTION WILL NOT BE AVAILABLE FOR MACHINERY LOADING.
11. Buyer's machinery movers/riggers authorized by buyer 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. RIGGERS/MACHINERY MOVERS MUST DISCONNECT ELECTRICAL LINES OF MACHINES AT THE JUNCTION BOX AND CAP OFF ALL LIVE WIRES.
12. No Shipment or Packaging of Items by Auctioneer: Buyer is solely responsible for any purchases to be shipped out of state. Purchaser shall be responsible for all packaging and shipping costs as well as all costs of removal.
13. While quantities, descriptions and capacities are believed to be correct, there are no guarantees and the auctioneers, owners and advertising media will not be held responsible for any written or verbal discrepancies or inaccuracies whatsoever.
14. In live on-site auctions, the auctioneer reserves the right to group lots, make lots smaller or to add to or delete or change numerical sequence of lots at his sold discretion and reserves the right not to accept or acknowledge any bid which is merely a fractional advance over the preceding bid.
15. The auctioneers assume no responsibility for any liability once title passes.
16. Soft Close Format: This online auction is conducted in a soft close format. A soft close prevents individuals from entering a bid at the very last second before an auction closes in order to prevent others from bidding higher. Auctioneer has a 3-minute soft close policy on each lot. This means that if a bidder enters a bid within three minutes of the lot's initial closing time, a three minute extension would be added on. The lot will not close until bidding is static for three minutes.
17. Unless otherwise announced by the Auctioneer in these terms and conditions, the sale may be "with reserve" and, therefore, sellers or secured creditors have reserved the right to bid on any lot being offered for sale.
18. The auctioneer shall in no event be liable to the purchaser for non-delivery of any lot for any reason except for the return of the deposit or monies paid on such non-delivered lots.
19. In the event that it becomes necessary for the seller or auctioneer to commence an action to enforce the terms of this agreement or to collect on invoices, the purchaser agrees to pay all attorneys' fees and costs of collection so incurred.
20. Any online announcements made on the day of the auction take precedence over catalog, website or other previously announced or documented information but do not alter in any way the basic terms and conditions of the sale.
21. 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 any local, state and federal regulations and as directed by auctioneer.
22. Neither auctioneer, its agents, its employees or 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.
23. 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.
24. At no time shall a buyer be in the facility without an Asset Reliance, Inc. employee during preview and/or check-out.
25. Riggers/moving companies must have a copy of the customer's paid-in-full invoice releasing the equipment to the rigger. They must also present auctioneer with proof of liability insurance prior to removal of any item purchased.
26. Auctioneer reserves the right to accept bids in any increment he feels is in the best interest of his client, the seller. The auctioneer reserves the right to reject the bidding of any registered bidder not approved by Auctioneer for online bidding.
27. The auctioneer reserves the right to add or delete lots. When seller has a security interest in the equipment designated for auction, they retain the right to credit bid either in person or through a representative or agent. Auction sales may be cancelled for reasons beyond auctioneer's control. Auctioneer assumes no liability for expenses or time-loss incurred by buyers in the event of a third party forced cancellation of an auction sale. Auction items may be subject to prior sale.
28. Some items offered for sale at the auction may be restricted from shipment outside the United States. All sales of these "restricted technology" items are intended for destination only within the United States and it is the sole responsibility of the buyer to obtain proper export licenses, where required, and if permitted by U.S. law.
29. In the event of a software glitch, Auctioneer reserves the right to intervene on behalf of the bidder to determine who is the winning bidder.