Personal Property Live Auction

Personal Property Onsite – Terms and Conditions
PLEASE DO NOT BID UNTIL YOU HAVE READ THESE TERMS AND CONDITIONS OF SALE.

CATALOG: The catalog is provided as a convenience and each item of merchandise or personal property is often referred to as a "lot". A “lot or lot number” may have several pieces included or may be only one item. Please inspect each lot of personal property and merchandise prior to bidding. Descriptions are believed to be correct but are not guaranteed to be.

AS IS - Everything sells "AS IS" with no warranties given or implied. The auction company makes every effort to describe assets to the best of its ability but there are no guarantees as to the condition, quantity, quality, condition, age, color, or usefulness of lots sold in the auction. Everything sells with all faults, conditions, damage, defects, and flaws. The buyer will take the assets, personal property, items, lots or merchandise in the condition existing.

REMOVAL FROM PREMISES - You must remove all purchases of lots from the premises today. If there are other check out times please see the auction manager for details. If you do not remove purchases at the stated times you will forfeit your purchases back to the seller. YOU MUST HAVE YOUR LOTS CHECKED BY AUCTION STAFF WITH YOUR PAID RECEIPT prior to removing from the site.

HIGH BIDDER - The auctioneer has the sole discretion to determine the highest bidder for any and all lots. At the fall of the hammer or other customary method of declaring lots sold the ownership transfers to the buyer.

STARTING BIDS –RESERVE BIDS - The auctioneer reserves the right to start the bids on all lots. The auctioneer reserves the right to bid to the reserve amount, if any, on behalf of the seller.

ALL SALES FINAL - No claims can be made after the auction and no refunds will be given.

ORDER OF SALE - At most auctions the auction follows the lot order in sequence, HOWEVER, the
Auctioneer has the right to lump or group several lots together if it is in the best interest of the seller

RECORDS - The records of the bookkeeper are final in case of a disagreement over the bid price for any lots. Auctions may have audio recordings for backup records.

PAYMENT - Terms of Payment are cash or check only. Checks may be accepted by the auction company when backed by an IRREVOCABLE bank letter of guarantee stating the amount to be covered by the check. If a buyer fails to pay in full for their purchases, the account will be turned over to a collections agency.

POSSESSION - The auction company may HOLD LOTS NOT PAID FOR IN FULL OR NOT PAID WITH FUNDS AS STATED ABOVE. Bidders that comply with the terms of payment may remove their lots the day of auction unless otherwise stated or announced by the auction firm.

TAXES - 7% NC Sales tax will be charged on all items without a title.

ABSOLUTE / RESERVE AUCTION - All lots or merchandise will be sold at Absolute to the highest bidder, without reserve.

BUYER'S PREMIUM - A Buyers Premium of 10% is added to the last and highest bid to determine the purchase price.

Uniform Commercial Code:
Section 2-328 of the UCC provides federal law regarding a sale by auction. The code reads that a sale by auction is complete when the auctioneer so announces by the fall of hammer or in other customary manner. A bid is a legal binding contract between the bidder and auctioneer. Reopening a bid is at the sole discretion of the auctioneer. Failure to complete a payment in good faith, stopping payment on checks or refusing to pay for goods purchased at the auction may result in legal action against the buyer and may result in the collection being turned over to a collection agency.

Qualified Bidders:
“Auctioneer reserves the right to refuse to register any prospective bidder for any reason, or to require a cash deposit from a prospective bidder of an amount designated by Auctioneer and paid in advance by the prospective bidder to Auctioneer. Such deposit will be applied to any purchases made at the auction by the prospective bidder. At the end of the auction, Auctioneer will refund any portion of this deposit that has not been applied to purchases. Furthermore, Auctioneer will require the removal of any person from the auction site for any reason including, but not limited to: (1) tampering with auction lots; (2) any illegal conduct including collusive bidding or stealing; (3) disruptive behavior; (4) failure to abide by these terms; and (5) intoxication. Bidder agrees to leave the auction site immediately and quietly upon request by Auctioneer. Any act of theft, vandalism or disruption will be prosecuted to the fullest extent of the laws.”

It is the duty of the bidder to present their bid to the auctioneer and not that of auction support staff, auction ringmen, auction bid assistants, or the auctioneer.

DISPUTES: Any disputes that arise between the auction company, the seller, the seller's agents and the buyer will be dealt with by arbitration in Surry County, North Carolina.
DISCLAIMER: The auction company provides data, advertising, maps, that is believed to be correct but it is not guaranteed. Bidder's should rely on their own inspections and due diligence prior to bidding. Everything sells strictly AS IS. The auction company makes every effort to describe assets to the best of its ability but there are no guarantees as to the condition, quantity, condition, age, color, or value of the lots, personal property, merchandise or real property sold. Buyer agrees that buyer may not cancel purchase for any reason.

The bidder agrees to all terms and conditions of the auction and should read the detailed terms.

LICENSES - NC Firm # 685, VA Firm #2, SC Firm # 1874