TERMS AND CONDITIONS OF AUCTION—K_7 AUCTIONS, INC.
By participating in this auction, the bidder/buyer agrees to the following terms and conditions:
1. The highest bidder shall be the purchaser. NO BIDDER SHALL BE ALLOWED TO RETRACT HIS BID. All bids are made in US dollars.
2. Unless otherwise agreed in writing by Seller and Auctioneer, all items consigned are to be sold with “NO MINIMUM OR RESERVE.” If a reserve or minimum is agreed, then Seller shall have the right to waive or reduce the amount of the reserve.
3. A 5% Buyers premium will be applied for credit and debit cards, and for any payments made later than the last day of loadout as advertised by the auctioneer. Merchandise becomes the full responsibility of the buyer at the time of payment and the buyer assumes all risk of loss and damage to property at that time. K7 Auctions reserves the right to resell any property not paid for in full by the conclusion of the stated pickup period. In any such event, the buyer will still be responsible for payment for the original purchase and the costs of collection of this payment and/or damages resulting from the resale of the property.
4. Terms of the sale are cash, check, Visa, Mastercard, Discover, American Express or wire transfer. Wire transfer instructions will be provided upon request.
5. All applicable sales or excise taxes will be added to the purchase price of all taxable items unless the buyer files with the Auctioneers proof of exemption from all such taxes in a form satisfactory to the auctioneers. If there is a buyer's premium, the tax is applied after the combined total.
6. The Auctioneers shall have the right to consolidate or break down lots, or to offer a complete facility as a single lot. Auctioneers reserve the right not to acknowledge or accept any bid which is merely a fractional advance over the preceding bid. The Auctioneers retain the right, without notice, to withdraw any lot or lots, prior to sale of said lots.
7. The Auctioneers assume no responsibility for any liability once bid is accepted. As stated herein, ALL MERCHANDISE IS SOLD "AS IS" WITH ALL FAULTS. Purchasers are advised to pre-arrange for insurance coverage of their purchases.
8. Ownership and title pass upon the fall of the Auctioneer's gavel and/or ending of online bid and thereafter the property is at the risk of the buyer and neither the seller, nor the auctioneer shall be responsible for loss or damage. Any dispute arising as to any bid shall be settled by the Auctioneers at their sole discretion. At the Auctioneer's discretion, the Auctioneer may immediately put the lot in dispute up again for sale with the original purchaser responsible for any and all sale fees for that item and any deficiency in the sales price from the disputed bid.
9. If for any reason whatsoever, the Auctioneers are unable to deliver any lot, or any necessary documentation required in respect of any lot, the Auctioneer's sole liability, if any shall be the return of any monies paid on such lot.
10. All cost and the responsibility of removal after the sale shall be borne by the purchaser. The Auctioneers reserve the right to require proof of adequate insurance coverage from any purchaser of lots requiring dismantling, rigging or hot cutting. Purchaser agrees to indemnify and save harmless both the Consignor and Auctioneers against any damage caused by the act of Purchaser and/or his agents in connection with the dismantling or removal of any lot. If removal of said lots requires licensed contractors, buyer agrees to the hiring of said contractor who can provide proof of adequate insurance coverage. If items are not removed by the end of the load out date, K7 Auctions reserves the right to resell the items and retain all sales proceeds as payment for accumulated, unpaid storage and handling. Buyers are responsible for rigging, loading, and removing all items purchased without assistance from K7 Auctions at address of the items located at the bottom of the buyer’s invoice.
11. Engine hours and hour meters readings are disclosed to the best of our knowledge. It is the buyer’s responsibility to verify prior to purchase. ALL SALES ARE FINAL AND BINDING.
12. For technical difficulties relating to the server, software, or any other online auction-related technologies, K7 Auctions reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor K7 Auctions shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Email notifications will be sent to registered bidders with updated information as deemed necessary by K7 Auctions.
13. EXCEPT AS HEREIN SET OUT THERE SHALL BE NO GUARANTEES OR WARRANTIES
EXPRESSED OR IMPLIED, STATUTORY OR OTHERWISE OF ANY NATURE WHATSOEVER.
EACH AND EVERY ITEM WILL BE SOLD "AS IS, WHERE IS", WITH ALL FAULTS. ALL SALESARE FINAL.
14. CONDITION OF LOTS: BIDDERS SHALL EXAMINE OR INSPECT ITEMS PRIOR TO THE DAY OF
THE AUCTION. ALL ITEMS ARE SOLD AS IS, WHERE IS AND WITH ALL FAULTS. NEITHER
SELLER NOR K7 AUCTIONS MAKES ANY WARRANTY, EXPRESS OR IMPLIED, AS TO THE
NATURE, QUALITY, VALUE OR CONDITION OF ANY ASSET. K7 AUCTIONS SELLER
EXPRESSLY DISCLAIM ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A
PARTICULAR PURPOSE. NO ALLOWANCE WILL BE MADE FOR ERRORS IN CATALOGING,
GENUINENESS, DEFECTS, OR IMPERFECTIONS NOT NOTED.
15. CLAIMS: No claims will be allowed after the said item has been removed from the premises.