Auction Terms
1. The Lots listed in this auction will be offered by Associated Estate ("Auctioneer" or the "Company") as agent for consignor(s) or owner. By bidding at this auction, you agree to be bound by the Terms and Conditions of Sale contained herein.
2. All the Property offered and sold through Associated Estate shall be offered and sold under the Terms and Conditions set forth herein. YOUR BID IS A CONTRACT. By participating in this auction, you acknowledge that you accept and are bound by these Terms and Conditions, any of which may be modified or waived at the sole discretion of Associated Estate, or the Auctioneer.
3. Buyer acknowledges and agrees that Associated Estate shall be found to have no duty, or liability, as to the validity of the consignor or owner's lawful title to any lot offered for sale. The Company provides no guarantee or warranty either expressed or implied as to the lawful title of any lot, and Buyer waives and releases the Company from any and all claims, of whatever nature based on alleged defect(s) in legal title.
4. Associated Estate advises all prospective bidders to examine in person all lots they are interested in bidding on before the auction. YOUR BID IS A CONTRACT, and ALL SALES ARE FINAL. All Property (Lots) are sold "As Is" "Where is" and without recourse. The Auctioneer and Its Consignors make NO warranties or representations of any kind with respect to any of the Property (Lots) to be sold at auction, including, without limitation, warranty of title, warranty of merchantability, fitness for a particular purpose, or any other warranty or representation of any kind in reference to the Property. Neither Associated Estate, Its Employees, Consignors, Agents nor Assigns shall be responsible for the correctness, authenticity, provenance, attribution, condition, or any other terms used to describe the Property. Neither Associated Estate, the Auctioneer, its consignor(s), agents nor employees shall be deemed to have made any representation or warranty either expressed or implied. The absence of any reference to the condition of a lot does not imply that the lot is free of imperfections or the effects of aging. The Bidder is advised to thoroughly examine all lots prior to bidding. All sales are final unless the property is forged, counterfeit or fraudulently represented. In that case the buyer shall have 48 hours upon receipt of the property to promptly return the property to Associated Estate, in the same condition it was sold, and rescind the transaction.
5. All prospective bidders/buyers must register and provide suitable identification prior to the start of the auction and before bidding. Associated Estate reserves the right to refuse admission to the premises, and/or to refuse participation in any auction at any time at Associated Estate or the Auctioneers sole discretion.
6. Registered bidders agree to accept personal responsibility for paying the total purchase price, which includes the Hammer Price plus an inhouse 20% buyer's premium and all applicable State, Federal and Local taxes on the day of the auction. Online bidders understand that there is a 25% buyer's premium and agree to be bound by the terms and conditions as disclosed on Invaluable.com. If a bidder would like to appoint an agent to bid on their behalf, then it must be agreed to in writing, by Associated Estate prior to the start of the auction.
7. Associated Estate will accept any pre-sale ("Absentee") bids left in writing prior to the commencement of the Sale, however, the Company is not responsible for failing to execute such bids, or for any errors or omissions in connection with such bids. If an Item or Lot receives written bids for identical amounts, and they are the highest bids, the Item or Lot will be sold to the buyer whose written bid was received and accepted first. The Company's copy of and records regarding receipt and acceptance of any Absentee bid shall be deemed sole evidence and conclusive.
8. A buyer may register to bid via telephone NO LATER THAN 48 hours before the start of an auction. Associated Estate will make every reasonable effort to contact the prospective telephone bidder to enable them to bid by phone at the auction, however, the Company does not accept any liability for failure to do so, or for any errors and omissions in connection with telephone bidding.
9. Some Lots in the Sale may be subject to a confidential reserve below which the Lot will not be sold. The reserve will not exceed the low estimate of the Lot. The Auctioneer may open the bidding on any Lot below the reserve by placing a bid on behalf of the consignor and may continue to bid on behalf of the consignor up to the amount of the reserve. This may be done by placing consecutive bids or by placing bids in response to other bidders.
10. If any Lot is offered without reserve, unless there are already competing bids, the Auctioneer, may open the bidding at half the low estimate. If a bid is not offered at that level, the Auctioneer may proceed backwards until a bid is offered, and then continue up from that initial bid at increased increments.
11. The Company reserves the right to withdraw any Property at any time before the hammer falls at its complete discretion and shall have no liability whatsoever for such withdrawal.
13. The Company reserves the right to reject any bid. The highest bidder acknowledged by the Auctioneer will be the buyer. In the event of any dispute between bidders, the Auctioneer shall have absolute and final discretion either to determine the successful bidder, or to re-offer and re-sell the Property in dispute. If any dispute arises after a sale, the Company's sale record shall be conclusive and final.
14. The Auctioneer's decision to refuse any bid, advance the bidding in any manner, withdraw a Lot, determine a successful bidder, continue the bidding, to cancel a sale and reoffer and resell an item in dispute, is conclusive, absolute, and final. Neither Associated Estate, its agents, employees, nor consignors shall have any liability of any nature with respect to the aforementioned terms.
15. Title of the property immediately passes to the highest acknowledged bidder when the Auctioneer's hammer falls, subject to the Terms and Conditions set forth herein, at which point the bidder assumes full risk and responsibility for the Property. The buyer shall pay the full purchase price which includes Hammer price, together with the 20% buyers' premium PLUS any applicable fees, taxes, and shipping costs at the conclusion of the auction. Online bidders understand that there is a 25% buyer?s premium and agree to be bound by the terms and conditions as disclosed on LiveAuctioneers.com and HiBid.com. Payment shall be made in US dollars by cash, cashier's or certified check, in-state personal check with prior approval of the company, wire transfer, or credit cards that are accepted by the company. If a winning bidder wishes to pay by credit card, they understand that an additional 3.5% processing fee will be incurred. Payment for international bidders shall be by wire transfer only or paid directly through the bidding platform. Associated Estate will not accept credit cards or PayPal payments from international bidders. Payment will not be considered complete until ALL funds are cleared. No Property will be released to the buyer or their representative until payment has been made in full. If payment is made by check the Company reserves the right at its sole discretion to hold the Property purchased until funds have cleared the bank. The buyer agrees to pay the handling charge of $50 for any check dishonored by the Bank in which the funds are drawn upon.
16. The Buyer will remove all purchased Property at their sole expense immediately upon conclusion of the auction. Property not removed by the successful bidder may be sold by the Company or removed by the Company to a public warehouse or storage facility, at the sole risk, responsibility, and expense of the buyer. Associated Estate will not be responsible for any loss, theft, or damage to any Property left at the conclusion of the auction. If purchased Property is not picked up within (5) business days of cleared payment, then Associated Estate reserves the right to charge a monthly fee of 10% of the total purchase price or an administrative fee of $200.00 per month, whichever is greater. If the Property is not picked up after thirty (30) days, then Associated Estate is free to dispose of the property in whatever manner the Company deems fit. Neither Associated Estate, its agents, employees, nor consignors shall have any liability of any nature with respect to items not picked up by the buyer after 30 days.
17. If the buyer fails to pay in full with good, cleared funds, or fails to comply with the Terms and Conditions of the Sale as set forth herein, the Company reserves the right to exercise one or more of the following remedies, in addition to any other remedies available to Associated Estate by operation of law:
a) hold the defaulting buyer liable for the full purchase together with any buyer?s premium.
b) Cancel the sale.
c) Resell the property without reserve at public auction, or privately under such terms as Company deems appropriate, and the defaulting purchaser will be liable for any difference between the original purchase price and the final sales price. In addition, the defaulting buyer will be responsible for any costs incurred by the Company including, but not limited to, handling, storage, commissions, insurance, administration, any and all legal fees, incidental damages and all costs relating to this transaction; and
d) Forbid the buyer from participating in any future auction.
17. Associated Estate can provide a successful bidder with an in-house packing & shipping quote or with a list of shippers if preferred. The Company will not be responsible for the acts or omissions of carriers or packers engaged by the buyer whether or not such shipper was listed by the Company. Property will not be released to a third-party shipper without the buyer's consent, and unless the Company is in receipt of full payment. Any packing and handling by the Company is at the entire risk of the buyer and the Company bears no liability for any loss or damage to such items. The cost of shipment will be Buyer's full responsibility.
18. The conduct of the auction and all transactions associated with it, the Terms and Conditions herein set forth, together with the rights and obligations of the Company, Consignor and Buyer are governed by the laws under the State of Rhode Island. If any part of these Terms and Conditions is found by a Rhode Island court to be invalid, illegal, or unenforceable then that part will be discounted, and the rest of the Terms and Conditions will continue to be valid to the fullest extent permitted by law.
19. International Bidders who wish to participate in our auction must pay by wire transfer. No credit cards are accepted for international purchases unless done so directly through the bidding platform.
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