Auction Terms & Conditions Marak Auctions - Terms and Conditions 1. Acceptance of Terms and Conditions. By participating in Marak Auctions Auction (the "Auction"), all buyers, buyers' representatives, employees, contractors, agents, and affiliates (collectively, "Buyer") expressly acknowledge, accept and agree to abide by these Terms and Conditions. Any active activity by Buyer including but not limited to: (a) attendance at any Auction, (b) viewing Auction items online or in-person, (c) registration with the Auction or obtaining a bidder number/card, (d) bidding on any Auction item, (e) purchasing any Auction item, and/or (f) delivering, picking up, dropping off, loading, removing or otherwise collecting an Auction item shall constitute "participation" for purposes of these Terms and Conditions. 2. No Deposit Required. No deposit is required to register for and participate in the Auction. 3. Auction Procedures. 3.1. All items will be sold to the highest bidder conforming to the bid process. In the event there is a dispute between two (2) or more Buyers who claim entitlement as the successful bidder, the Auction reserves the right to re-auction the item in dispute. 3.2. The auctioneer shall regulate all matters relating to the conduct of an Auction and his decision shall be final and binding on all Buyers. 3.3. The auctioneer shall be entitled to: (a) make changes in the composition of the lots, or to withdraw them, up until the last moment before declaring a successful bidder, (2) refuse any bids without having to state the reason, in which case any previous bidders shall be bound to their bids, and (3) to correct himself if he misspeaks or otherwise makes a mistake. 3.4. The Auction reserves the right to sell any or all items subject to a reserve price. 3.5. The Auction reserves the right to bid on and purchase items for its own account or for the account of third-parties, whether by verbal or written proxy. 3.6. All sales shall be concluded in the time frame indicated and no Buyer may thereafter revoke his bid. 3.7. The Auction reserves the right to sell articles by individual group lots and "En Bloc" as the auctioneer deems appropriate in his sole discretion. 3.8. The Auction reserves the right to group, reduce, add to or delete lots at any time before acceptance of a successful bid. 3.9. The Auction reserves the right to sell items on behalf of third parties or for its own account. 4. Bidding. 4.1. A Buyer's bidder number is nontransferable. All bids made by the holder of the number will be Buyer's responsibility and cannot be withdrawn. A successful bid online constitutes a legally binding contract of sale. The Auction reserves the right to refuse any applicant the privilege of bidding and may revoke such privilege of bidding at any time and for any reason at the Auction's sole discretion. 4.2. All bids constitute a binding contract between the Buyer and the Auction. Any Buyer that makes/submits a bid is accepting an offer by the Auction to purchase an Auction item, with the price paid being the consideration for the transaction. Buyer agrees that by placing a bid on any Auction item, they are bound by such a contract and these Terms and Conditions. 4.3. Buyer acknowledges that once it offers a bid, the Buyer shall be bound by the bid amount. Bids cannot be withdrawn or retracted once offered. Therefore, please verify all information entered and offered (i.e., bid amount) before submitting a bid. 5. Firearms and Ammunition Purchases. 5.1. The Auction is a Federal Firearms Licensee ("FFL"). All Buyers wishing to purchase a firearm must complete ATF Form 4473 and pass a background check in order to take possession of the firearm. This process may be done at an Auction or at your scheduled pickup time at the Auction house. If a Buyer holds an FFL, a License to Carry a handgun ("LTC") or a Concealed Handgun License ("CHL"), they do not have to pass a background check upon presentation of one of the above referenced gun licenses; however, they must still complete ATF Form 4473. Copies will be made of the gun license and will be filed with ATF Form 4473. 5.2. Buyer must pay for all guns at the close of an Auction for which they were the winning bidder. In the event there is an issue with the background check, a member of the Auction staff will discuss how it will be handled on an individual basis. 5.3. If you know that you cannot pass a NICS background check and/or are not otherwise permitted by law to own/possess a firearm for any reason, please do not bid on any firearms. THERE IS NO REFUND IF YOU ARE UNABLE TO PASS A BACKGROUND CHECK. 5.4. No firearms or ammunition will be shipped or delivered. Buyers must arrange to pick up all purchased firearms and ammunition. 5.5. Firearms have not been checked or certified by a gunsmith. As always, it is Buyer's responsibility to verify the condition of any firearms and ammunition purchased at an Auction before firing. 5.6. All local, state and federal gun laws apply at all events and to all transactions completed with the Auction. 6. Bidder's Responsibilities. It is the Buyer's responsibility to: 6.1. Perform all inspections of the items and to be satisfied as to its description, condition and/or authenticity prior to bidding. Failure to inspect any item does not relieve the Buyer of responsibility for payment and removal as stated in these Terms and Conditions. 6.2. Independently verify any information about the Auction, any Auction item, or these Terms and Conditions they deem important; 6.3. Independently verify all information contained in the item description and all promotional and advertising materials, including, but not limited to, photographs, dimensions, conditions, etc. Such information is generally provided by or on behalf of the seller and is believed to be correct, but neither the seller nor the Auction makes any promise, representation, guarantee, or warranty as to the accuracy or completeness of such information. 6.4. On jewelry items, unless noted as appraised, diamonds and/or gemstone carat weights are approximate or per information on receipts/tags/markings, etc. Unless jewelry is specifically listed as tested, the Auction did not test it. As always, the Auction recommends that Buyers preview in order to form their own independent opinion. 6.5. Evaluate and form their own opinion as to the authenticity or genuineness of any item. Markings on jewelry or any other Auction item does not guarantee authenticity. 7. Disclaimer of Representations and Warranties. 7.1. All items are sold as-is, where-is, with no warranty or guarantee of any kind. All descriptions are believed to be accurate; however, all bidding and buying is based solely on Buyer's personal inspection and/or opinion of the items. BUYER ACKNOWLEDGES THAT THE AUCTION MAKES NO REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, AS TO THE QUALITY, ACCURACY, COMPLETENESS OR MATERIALITY OF ANY DESCRIPTIONS AND SHALL NOT HAVE ANY LIABILITY TO A BUYER RELATING TO OR RESULTING FROM THE USE OF THE DESCRIPTIONS OR ANY ERRORS THEREIN OR OMISSIONS THEREFROM. Any and all descriptions furnished by the Auction are provided as a convenience only, and any reliance on or use of same is at the sole risk of the Buyer. 7.2. THE AUCTION MAKES NO WARRANTIES OR GUARANTEES WHATSOEVER WHETHER WRITTEN, ORAL OR IMPLIED AS TO QUALITY, QUANTITY, CONDITION, LOCATION, USEABILITY, SALEABILITY, WEIGHT, MEASUREMENT, YEAR, MODEL, MECHANICAL CONDITION, PERFORMANCE, FITNESS FOR A PARTICULAR PURPOSE OR OTHER SPECIFICATIONS. MANUFACTURERS WARRANTIES MAY OR MAY NOT BE IN EFFECT. 8. Personal responsibility. 8.1. All Buyers previewing Auction items are personally responsible for any breakage/damage to Auction items they are handling and will be charged appraised value for item(s) broken or damaged. YOU BREAK IT, YOU BUY IT. 8.2. All Buyers assume full responsibility for their own safety. The Auction, auctioneers, staff and sellers are not responsible for any accidents or injuries. Accordingly, attendance and participation at any Auction is done solely at Buyer's own risk. 9. Payment Procedures. 9.1. ALL AUCTION ITEMS AND RELATED INVOICES MUST BE PAID WITHIN TWENTY-FOUR (24) HOURS OF A SUCCESSFUL BID. The Auction accepts cash, checks, and credit cards for purposes of payment obligations in most instances. Notwithstanding the foregoing, the Auction reserves the right to expand or limit the types of acceptable payment methods at any time in its sole discretion based on the circumstances of the Auction, merchandise, and/or the Buyer involved. 9.2. Buyers will be charged all applicable taxes unless satisfactory proof of tax-exemption status is provided prior to payment. If satisfactory proof is not provided, Buyer will be charged and must pay all applicable taxes. No taxes will be refunded once they have been collected by the Auction. 10. All sales are final. NO EXCEPTIONS. 10.1. All Auction items purchased by Buyers are final. There are no refunds, exchanges or credit offered under any circumstances. 10.2. All Auction items are purchased and accepted by Buyer "AS IS-WHERE IS," 'IN PLACE" and "WITH ALL FAULTS, KNOWN AND UNKNOWN." 10.3. NO SALE OF ANY AUCTION ITEM SHALL BE INVALIDATED AND THE AUCTION SHALL HAVE NO LIABILITY FOR A MISDESCRIPTION OR A BUYER'S SUBJECTIVE OPINION OF ANY ARTICLE OR LOT WHETHER CONTAINED IN A CATALOGUE, ADVERTISEMENT, ONLINE OR OTHERWISE. 11. Collection and Removal of Items. 11.1. All items and invoices must be paid for in full before merchandise will be released from the premises. 11.2. It is the Buyer's sole responsibility to verify quantities before removal of purchased auction items from the premises. No allowances will be made for claims or shortages once items are removed from the premises. 11.3. Where available, documents of transfer, including equipment and motor vehicle ownership documents, will be provided to Buyers within seven (7) days following the Auction or as soon thereafter as such documents are available. The Auction makes no warranties that such documents will be available. Any available titles shall not pass to Buyer until full payment is received. 11.4. All items must be paid for and picked up in the time frames posted. Failure of a Buyer to do so will result the items being deemed "abandoned" and Buyer will lose any right, title or interest Buyer may have acquired. In such cases, any right, title and interest of abandoned items shall revert to the Auction without further notice to Buyer and Buyer's payment will be forfeited. 11.5. Any items held on behalf of or at the request of a Buyer may incur a storage fee. No Buyer may assign, transfer, or dispose of his rights in any item purchased before he has paid the purchase price in full. No reselling of items will be allowed on Auction premises. 11.6. Auction staff will not load or otherwise assist Buyers in the loading of purchased items. Buyer is solely responsible to provide any personnel, equipment or material needed to pick up purchased items and shall assume all responsibility for the removal of any item of property purchased and any and all risks associated with such removal including, without limitation, the responsibility for providing licensed and bonded professionals to ensure proper water, gas and/or power disconnection, disassembly, removal and loading, and full financial responsibility for any damage or liability to persons or property resulting from any negligent act or omission of Buyer or Buyer's employees, agents and/or representatives during pick-up and removal. 12. Errors and Malfunctions. 12.1. In case of any errors or malfunctions of hardware or software, the Auction reserves the right to cancel any transaction, even if the Buyer has previously received confirmation of the transaction. The Auction strives to maintain its technology systems as stable as possible, whether online or in-person. However, errors related to equipment and technology malfunctions are possible and may happen without notice. Accordingly, the Auction does not guarantee uninterrupted access to its website or its technology services. 12.2. The Auction reserves the right to correct any mistakes or typographical errors made by its staff or on its behalf. 13. Auction Rights and Remedies. 13.1. If any of these applicable Terms and Conditions are not complied with by Buyer, then the Auction may exercises any or all of the following rights and remedies: (a) hold Buyer liable for the total purchase price, (b) cancel the sale while retaining all payments made by Buyer, including any deposit made, as liquidated damages and/or (c) resell the item(s) in which event Buyer will be liable for the cost of removing and reselling the item(s). 13.2. In the case of abandoned items, Buyer shall be liable for (i) any deficiency between Buyer's original purchase price and subsequent resale price, (ii) the Auction's commission, (iii) interest at the maximum rate allowed by law (a minimum of 1.5% per month or 18% per annum), (iv) any legal fees including court costs and attorney's fees, (v) moving and storage costs (a minimum rate of $2.00/sq.ft. per month), and (vi) all other expenses related to the disposal or reselling of the abandoned item(s). 14. Assumption of Risk. 14.1. All persons in attendance during inspection or removal of merchandise assume all risks of damage or loss to persons, property, or merchandise. Additionally, Buyer shall exercise proper precautions at all times for the protection of persons and property and shall comply with all safety and health requirements as directed by the Auction, as well as local, state and federal regulations. 14.2. The Auction, its agents, employees and representatives shall not be liable by reason of any defect in or about the condition of the premises on which an Auction is held. Buyer specifically releases the Auction, its agents and representatives from all liability thereof. 14.3. All right, title, interest and risk of loss shall transfer to Buyer at the time of payment. If the Auction is unable to provide an article sold to Buyer due to fire, theft, or any other reasons whatsoever, the Auction shall reimburse Buyer for all monies paid to the Auction in respect to the article and the Auction shall have no further liability to the Buyer arising from or relating to such loss, including without limitation any consequential damages or lost profits. 15. Limitation of Liability. In no event shall the Auction 's liability to any Buyer exceed the purchase price actually paid. The Auction is acting as an agent only and is not responsible for the acts of its principles and sellers. 16. Indemnification. Buyer agrees to indemnify, defend and hold harmless the Auction and its employees, contractors, agents and representatives from any and all demands, claims, losses, damages and liabilities (including attorneys' fees) asserted against, resulting to or imposed upon the Auction resulting from the actions or omissions of Buyer or his employees, agents and representatives, while in, at or about the Auction premises. 17. Miscellaneous. 17.1. The interpretation and enforcement of these Terms and Conditions shall be governed by and construed in accordance with the laws of the State of California. 17.2. If any provision of these Terms and Conditions shall be held invalid, illegal, unenforceable or inoperative, the balance of Terms and Conditions shall remain in full force and affect as if such provisions had not been included. 17.3. These Terms and Conditions with any amendments or modifications expressly made by the Auction constitute all the terms and conditions with respect to Buyer's participation in any auction. There are no representations, warranties, terms, conditions, undertakings or collateral agreements except as herein provided.