Live Auction Terms Of Sale
Terms of Sale
1) Any individual or entity registering for an Auction and/or any Buyer submitting any bid either in person, through an agent, via email, telephone call, internet during live simulcast or timed auction, or in any other manner whatsoever, either directly, indirectly, in Buyer’s name or by an assigned Buyer’s bidding number (“Buyer” or “Buyers”) at any Centurion Service Group LLC (“Centurion” or “Auctioneer”) auction agrees to and will thereby be bound by all of the terms and conditions contained in these written Terms of Sale, as from time to time amended as provided herein.
2) All Buyers agree that all items/lots will be sold at auction on the day(s) advertised or announced by Centurion Service Group LLC. to the highest bidder or bidders in person or on line via a web site, for cash in accordance with customary auction terms and conditions and more specifically subject to these Terms of Sale (the “Auction”). To receive a bid card and participate in the Auction, all Buyers present at the Auction site MUST: a) make a cash deposit of $500; or b) submit a personal or company check with a bank letter guaranteeing unqualified payment for any purchases; or c) present a valid credit card against which the $500 deposit will be taken. Additionally Buyers must submit a valid government issued identification matching the form of payment and Buyer registration. For On-line Buyers the deposit shall be $2,000 paid by credit card. In the event of a purchase by an On-Line Buyer the deposit will be applied against the purchase price and the balance, if any, will be charged to the credit card used for the deposit. Any on-line Buyer wanting to use a different method of payment must contact Centurion’s offices and make the necessary arrangements at least five (5) days prior to the Auction. Auctioneers may, at their sole discretion, without reason or notice of any kind, request an additional deposit from any Buyer before such Buyer may continue bidding during the auction.
3) Within three (3) days of the Auction all purchases must be paid in full by cash, cashier's check, certified funds or credit card, if applicable, made payable to Centurion. Bank wire transfers to the account of Centurion will be accepted by prior arrangement only. All sales at the Auction are final. The balance of any registration participation deposit is refundable after applying the same to any purchases. A fee of two hundred dollars ($200.00) per day will be charged up to six (6) days after the auction, if payment is not made within the allotted time period.
4) All applicable sales, use, transfer or excise taxes arising from sale will be charged to Buyers, and will be added to the purchase price in accordance with local and/or state law.
5) No purchases may be removed until after conclusion of the Auction and full settlement of payment.
6) Placing of a bid by Buyer is a commitment to purchase and binding on Buyer, its principals, agents, successors and assigns upon acceptance of such bid by Auctioneer. Successful Buyers or their agent(s) must pay for, accept delivery, and remove the items/lots purchased. Buyers are solely responsible for any necessary de-installing, packaging, loading, removing and/or shipping of the items/lots purchased and must proceed diligently in such removal. For Florida Auctions: For all purchases by Buyers located outside of Florida, removal shall by made by delivery from Centurion to a common carrier or licensed Customs broker.
Items/lots must be paid for and removed within the time posted at the Auction or as announced by the Auctioneer. If purchases are not removed within the required time limit the purchased items/lots will be deemed abandoned, become the exclusive property of Centurion and payment therefore, if made, will be forfeited. A fee of Five Hundred Dollars ($500.00) per day up to Five (5) days will charged to Buyers who do not pick up their items within the specified period of time. If payment has not been made by the required time limit, items/lots will be deemed abandoned, become the exclusive property of Centurion, the Buyer’s deposit will be applied to the payment and Buyer will be responsible to Centurion for the entire balance of the purchase price plus any and all direct and consequential damages including, without limitation and all attorney’s fees and costs incurred in any collection procedure. Interest will accrue on the balance of any unpaid purchase price annually at the lower of: Ten Percent (10%) or the highest interest rate allowed by law. For Buyers using credit cards, the bid deposits charged at registration will be applied to the purchase price and the balance will be charged to the same credit card.
7) After Auction, Buyers are responsible for checking the quantities of the items/lots purchased before check out. No adjustments in quantities will be made after the items/lots are checked out. Once a bid is accepted, neither Auctioneers or owners will be liable for any loss, shortage, damage or liability arising from or as a result of any reason whatsoever, including without limitation, negligence, any act or omission, strikes, industrial disputes, civil disruptions, war, terrorism, natural disaster, acts of God, and/or or any other event or occurrence in or beyond Centurion’s or owner’s control. Buyers are advised to pre-arrange insurance coverage of their purchases on award of bid.
8) Buyers are responsible for all risk of loss, property damage, personal injury caused by removal, and all costs of removal of items/lots purchased. A certificate of insurance reflecting adequate insurance coverage, holding Auctioneers, owners and landlords harmless against any damage must be furnished to the Auctioneer at Auctioneer's sole discretion and request prior to such removal. Buyer's obligations with regard to removal further include the obligation to repair and restore any damage to the real property or permanent improvements where the purchased items/lots are located. Buyers de-installing items/lots purchased MUST be or use professional, experienced, qualified de-installers and provide to Centurion a certificate of insurance or bond in an amount of no less than One Million ($1,000,000) Dollars, prior to performing such work.
9) If, for any reason whatsoever, the Auctioneers fail to deliver an awarded item/lot, the Auctioneer's sole liability shall be the return of any deposit or monies paid on said item/lot, and Buyer shall have no further claim whatsoever including without limitation direct, indirect, consequential, exemplary or incidental damages.
10) Items/lots may be offered subject to a reserve price without notice to the bidders.
11) Auctioneers may, at their sole discretion, without reason, notice or liability of any kind, at any time prior to or after commencement of the Auction, but prior to acceptance of final bid, alter, withdraw or vary any or all items/lots, refuse to accept any bid or terminate bidding on any or all items/lots, or cancel the Auction entirely. Auctioneers shall have the right at any time to offer a complete facility or the entire balance of remaining items/lots as a single lot.
12) The advances, progression, and rules in the bidding shall be regulated at the sole discretion of the Auctioneers. Auctioneers reserve the right not to acknowledge or accept any bid which is merely a fractional advance over the preceding bid. Auctioneers further reserve the right to refuse any bid for any reason or to bid on their own behalf. In the event of a tie, the Auctioneer, at his sole discretion may reopen the bidding to determine the highest bidder.
13) ALL ITEMS/LOTS IN THE AUCTION ARE PURCHASED “AS IS” AND “WHERE IS” IRRESPECTIVE OF CONDITION, WEAR, DAMAGE, AND WITH ALL FAULTS. All sales of items/lots are final and without any warranty, guarantee or representation of any kind or nature whatsoever, either express or implied, written or oral, as to the design, condition, merchantability, fitness for any particular purpose, quality, capacity, workmanship, or that any items/lots will satisfy the requirements of any law, rule or regulation. It is Buyer’s sole responsibility to provide proper safety devices and equipment or the means to meet all government safety standards or any other laws, including any environmental protection or other public protection laws or regulations. Buyer specifically relieves, releases, indemnifies and holds Centurion and owners harmless, from and against any and all responsibility, damages, claims, fines, penalties, judgments, actions, lawsuits, and/or liability of every kind and nature, including without limitation payment of Centurion’s attorneys fees and costs, in connection with or as a result of any breach of Buyer’s obligations, duties or responsibilities described herein or for violation of any provision of these Terms of Sale or the Auction rules either posted or as announced by Auctioneer. In the event Centurion must enforce these Terms of Sale against Buyer in a court of law, in addition to all other available remedies, Buyer will be responsible for Centurion’s attorney’s fees and costs.
14) Quantities, descriptions, weights, measurements, dimensions, serial and machine numbers, year and model set out on the items/lots in the auction brochures, catalogues, any advertisements and/or invoices are believed to be accurate. However, the Auctioneer’s, owners, or advertising counsel are not responsible or liable for any discrepancies, inaccuracies or failure of the items/lots to correspond with any written or verbal representation of such information made by or on behalf of either the Auctioneers or owner, or any perceived or expected standard or custom, or any other particulars such as the genuineness or authenticity of any items/lots. No item/lot shall be sold or deemed sold by description or such information and Buyer shall not be entitled to rely thereon. All such information is given by way of identification only and no warranty, condition, representation or guarantee is made, given or is to be implied. The Auctioneer and/or owner are not responsible or liable for any damage or loss (direct, indirect, consequential or otherwise) arising as a result of any inaccuracy in respect thereof. It is therefore recommended that all Buyers avail themselves for inspection.
15) A Buyer’s Premium of 19% of the final sales price in effect and will be added to Buyer’s purchase price. The Buyer’s Premium shall be decreased to 18% if the aggregate total of a Buyer’s purchases at an auction event are between $5,000 and $24,999.99 and shall be reduced to 17% if the aggregate total of a Buyer’s purchases at an auction event are $25,000 or above. The Buyer’s Premium may be adjusted at Centurion’s discretion according to how the bid was placed and the purchase price was paid.
16) For all credit card Buyers: Purchased items/lots will not be released without a signed credit card receipt/authorization form. Any Buyer using a credit card certifies that Buyer is authorized to use said credit card. At its discretion, Centurion may provide any evidence of credit card fraud to the relevant authorities.
17) These Terms of Sale are governed and interpreted in accordance with the laws of the State of Illinois (excepting any conflict of laws or provisions which would serve to defeat application of Illinois substantive law). Further, Buyer and Centurion hereby irrevocably and unconditionally agree and consent to the exclusive jurisdiction and venue of any court of competent jurisdiction located in the County of Cook, State of Illinois for any proceeding arising out of, or in connection with these Terms of Sale.
18) These Terms of Sale may not be changed, amended or modified except by Auctioneer, and Auctioneer may within its sole discretion and without notice, change, amend or modify these Terms of Sale at any time in writing, by posting on its website, or orally by announcement at any auction.
19) PURCHASE FOR EXPORT: Buyer will comply with all applicable U.S. and local laws, including the Foreign Corrupt Practices Act, and warrant that the Equipment will not be exported to the Republic of China, to OFAC-Sanctioned Countries, or persons on the OFAC List. If Buyer is purchasing the Equipment for export, Buyer is responsible to obtain any required export or import licenses or documentation, and Buyer is responsible for purchasing the Equipment in accordance with the US Export Administration Regulations (EAR).
20) NO SALE OF EQUIPMENT TO OFAC – SANCTIONED COUNTRIES OR PERSONS ON THE OFAC LIST: Company will not directly or indirectly sell Equipment to or receive payments or remittances for Equipment from any person or entity that is an OFAC-sanctioned country, government, national, or resident or any person or entity that is listed, or that owns a controlling interest in or is otherwise controlled by a person or entity that is listed, on the OFAC List (http://www.treas.gov/offices/enforcement/ofac/).