Auction Terms & Conditions TERMS OF SALE
M. Davis Group, LLC
NOTICE: These Terms of Sale govern all items offered for sale by M. Davis Group, LLC, its employees, agents, affiliates, joint venture partners and/or co-auctioneers (collectively, the "Auctioneer") at this sale. The Auctioneer reserves the right to modify these Terms of Sale at any time which modifications shall become part of these Terms of Sale. By registering to bid at this sale, all Bidders acknowledge that they have read these Terms of Sale and agree to be bound by them.
1. IDENTIFICATION. All Bidders are required to register prior to making a bid on forms supplied by Auctioneer.
2. PAYMENT. Unless prior written arrangements are made acceptable to Auctioneer, payment must be made in full for all items purchased at the conclusion of the sale by cash, wire transfer, certified check or by credit card, no checks accepted. At the discretion of Auctioneer, a 25% refundable deposit may be required at the time of registration. At any time during the sale a 25% deposit may be required to cover a bid, in default of which the Item may be immediately resold. A discount of 3% off the buyer's premium will be applied to payments in cash, certified check and a check with a bank letter of guarantee.
3. TAXES. When required by law, the successful Bidder shall pay to Auctioneer any sales or other applicable tax which tax shall be added to the final bid price. Bidders who purchase for resale must supply to Auctioneer at the time of payment all documentation required for any claimed exemption.
4. BUYER'S PREMIUM. A buyer's premium, 18%, of the final bid price will be added to the purchase price for each item sold and collected from the purchaser at the time of payment for the item before it is released for removal. A discount of 3%off the buyer's premium will be applied to payments in cash, certified check and a check with a bank letter of guarantee.
5. REMOVAL. A defined schedule for removal will be posted and adhered to for the sale. No item can, on any account, be removed during the sale. Removal shall be at the expense, risk and liability of the purchaser, including, without limitation, any liability for damages to the premises or damages as a result of the release of any hazardous or toxic materials. The purchaser agrees to comply with all applicable federal, state and local governmental safety standards in removing items purchased. Purchases may be removed only on presentation of a paid bill for all items sold to the same buyer. Auctioneer shall not be responsible for goods not removed within the time allowed, but shall have the option to void the sale or remove and store at the expense and risk of the purchaser any item purchased, but not paid for and removed within the prescribed time. REMOVAL DEADLINE July 6, 2017.
6. CONDITION OF ARTICLES SOLD. The Auctioneer shall not be responsible for the correct description, genuineness, authenticity of, or defect in any lot, and makes no warranty in connection therewith. No sale will be set aside nor allowance made on account of any incorrectness, error in cataloguing, or any imperfection not noted. No deduction allowed on damaged articles, all goods being exposed for public exhibition, and sold "as is," "where is" and "with all faults."
7. PURCHASER'S RISK. All purchases made at this sale are at the purchaser's risk as soon as they are announced sold by the Auctioneer. The Auctioneer and principal(s) shall have no liability for any loss or damage to items for any reason whatsoever once announced sold.
8. CLAIMS. No claims will be allowed after removal of goods from the sale premises.
9. AUCTIONEER AND PRINCIPAL(S) LIABILITY. Auctioneer shall not, in any event, be liable for non-delivery or for any other matter or thing, to any purchaser of any lot, other than for the return to the purchaser of the deposit or sum paid on said lot, should the purchaser be entitled thereto. Neither the Auctioneer nor its principal(s) shall be held liable with respect to any item sold in any greater amount than that paid by the purchaser and, in all instances, the highest bid shall be accepted by both the buyer and principal(s) as the value against which all claims for loss or damage shall lie.
10. COMPLIANCE WITH TERMS OF SALE. In default of payment of bills in full within the time therein specified, the Auctioneer in addition to all other remedies allowed by law may retain all monies received as deposit or otherwise, as liquidated damages. Items not paid for and removed within the time allowed herein may be resold at public or private sale without further notice, and any deficiency, together with all expenses and charges of re-sale, will be charged to the defaulting purchaser.
11. RISK TO PERSON AND PROPERTY. Persons attending during exhibition, sale or removal of goods assume all risks of injury and damage to persons and property and specifically release the Auctioneer and its principal(s) from liability therefor. Neither the Auctioneer nor its principal(s) shall be liable by reason of any defect in or condition on the premises on which the sale is held.
12. ADDITION TO OR WITHDRAWAL FROM SALE. The Auctioneer reserves the right to withdraw from sale any of the property listed or to sell at this sale property not listed, and also reserves the right to group one or more lots into one or more selling lots or to subdivide into two or more selling lots. Whenever the best interest of the principal(s) will be served, the auctioneer reserves the right to sell all the property listed, in bulk.
13. SALE BY ESTIMATED WEIGHT, COUNT OR MEASURE. Where items are sold by estimated weight, count or measure, the purchaser will be billed for and required to pay for the estimated weight, count or measure. If, upon removal, any shortage exists, the purchaser will be entitled to a refund at the rate of purchase provided request is made at the time of removal. If there be an excess, the purchaser will be required to take and pay for such excess, at the rate of purchase prior to removal.
14. NOMINAL BIDS. If any dispute arises between two or more bidders, the Auctioneer may decide the same or put the lot up for sale again, and resell to the highest bidder. The Auctioneer's decision shall be final and absolute. Any bid which is merely a fractional or nominal advance may be rejected by the Auctioneer.
15. RESERVE. The Auctioneer reserves the right to reject any and all bids. On lots upon which there is a reserve, the Auctioneer shall have the right to bid on behalf of the principal.
16. RECORDS. The record of sale kept by the Auctioneer will be taken as final in the event of any dispute.
17. COURT CONFIRMATION. All sales made by Order of Court may be subject to confirmation of the Court, as announced.
18. AGENCY. The Auctioneer is acting as agent only and is not responsible for the acts of its principals.
19. ADDITIONAL TERMS AND CONDITIONS-The Auctioneer may add other terms and conditions of sale, such additional terms and conditions to be announced prior to the auction.
20. GOVERNING LAW. These Terms of Sale shall be governed by the substantive law of the state where the sale takes place.
21. SEVERABILITY. If any provision of these Terms of Sale is held to be Illegal, invalid or unenforceable in whole or in part, the legality, validity and enforceability of the remaining provisions shall not be affected.
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