Auction Terms & Conditions Auction Terms & Conditions Auction Terms & Conditions, BIDDER TERMS AND CONDITIONS These Bidder Terms and Conditions apply to auctions conducted by, Old Capital Auction Company and constitute a legal, valid, binding, and enforceable contract between Auction Company and each Participant, Bidder, and Buyer.
These bidder terms and conditions also form the basis for the contract of sale between the Seller and the Buyer.
1. Auction Conducted Under and In Accordance with These Bidder Terms and Conditions, Additional Terms and Conditions Posted by Auction Company, and Announcements Made at the Time of the Auction, and Applicable Law. The Auction is conducted under and in accordance with these Bidder Terms and Conditions, any and all other Terms and Conditions posted by Auction Company (whether at the Auction Site or online), any announcements or corrections made by Auction Company at the time of the Auction, and applicable law. By participating in the Auction, whether at the auction site, online, telephonically, or through any other means (including Absentee Bid), each Participant agrees to be bound by, and to abide by, all such Bidder Terms and Conditions.
2. Definitions. The following definitions apply to these Bidder Terms and Conditions for each auction conducted by Auction Company: “Absentee Bid” means a bid submitted to Auction Company in advance by an Absentee Bidder for the execution during the Auction under terms established by Auction Company. “Absentee Bidder” means a person or entity that submits an Absentee Bid. An absentee Bidder may or may not be present at the Auction. “Absolute Auction” or “Absolute” applies only if and when expressly indicated and means that property is sold to the highest bidder regardless of the amount of the final bid, with no limiting conditions, restrictions, or reservations. This type of auction is also known as an auction Without Reserve. Provided that a bid is received within a reasonable time after property is put up at Absolute Auction, the property will be sold to the highest bidder regardless of the final bid amount. Property put up at Absolute Auction may be withdrawn by Auction Company if a bid is not received within a reasonable time. UNLESS SPECIFICALLY AND EXPRESSLY STATED BY AUCTION COMPANY IN WRITING, NO PROPERTY IS BEING SOLD ABSOLUTE OR WITHOUT RESERVE. “Attendee” means any person who attends the Auction at the Auction Site, whether such person is a Registered Bidder or not. “Auction” means the auction sale at which Auctioneer solicits bids, or is scheduled to solicit bids. “Auction Site” means the physical location of the Auction, or, for an Auction conducted entirely online, the location where Property may be inspected and where a Buyer may pick up Personal Property. “Bidder” means any person or entity that makes a bid at the Auction. “Bidder Number” means the number or other identifier issued by Auctioneer to a Registered Bidder for the purposes of identifying bids to such Registered Bidder. “Bidder Registration” means the information provided by a prospective Bidder, and the process of registering such prospective Bidder to bid at the Auction, including the prospective Bidder’s agreement to be bound by these Bidder Terms and Conditions. “Bidder Terms and Conditions” means these Bidder Terms and Conditions. “Broker Participation Fee” means an amount that is paid to a broker who has participated in procuring a Buyer, or has otherwise assisted in facilitating the sale of Property at the Auction, under the terms and conditions and in the amount established by Auctioneer. "Buyer" means the Winning Bidder with respect to each Lot of Personal Property or of each parcel of Real Property, as the case may be. "Buyer's Premium" is an amount with respect to each Lot of Personal Property or with respect to each parcel of Real Property, calculated as a percentage of the Hammer Price, that is payable by the Buyer to Auction Company for Auction Company’s own account. For offered Subject to Seller’s Confirmation, the Buyer’s Premium will be calculated on the amount of the High Bid Subject to Confirmation. “Commission” means the amount payable by or on behalf of Seller to Auctioneer for Auctioneer’s services, calculated as a percentage of the Hammer Price. “Fall of the Hammer” means the point, after bids have been received, at which Auctioneer declares a Lot of Personal Property or Real Property “sold” to the Bidder acknowledged by Auctioneer as having made the Winning Bid.
During an auction that is exclusively online, the Fall of the Hammer may occur electronically at the end of timed (or extended) bidding. In an auction that is Subject to Seller’s Confirmation, the Fall of the Hammer will occur on Seller’s Confirmation of the High Bid Subject to Confirmation. “Hammer Price” means the high bid amount recognized by Online Auction Platform with the Fall of the Hammer. “High Bid” means the high bid amount recognized by Online Auction Platform at the conclusion of bidding on a Lot or on a parcel of Real Property, as the case may be. “High Bid Subject to Confirmation” means the High Bid amount recognized by Online Auction Platform at the conclusion of bidding on Real Property put up at Auction Subject to Seller’s Confirmation. If the High Bid Subject to Confirmation is confirmed by Seller, it will be the Hammer Price. “High Bidder” means the Bidder recognized by Online Auction Platform as having made the High Bid with respect to a Lot or a parcel of Real Property. "Knocked Down" or "Knock Down" means, with respect to any Property put up at the Auction, that Online Auction Platform has acknowledged the Winning Bid with the Fall of the Hammer, or by announcing "sold", or by giving a similar such indication. Property may be Knocked Down electronically at the conclusion of a timed online auction event. (Also, "Struck Off" or "Strikes Off"). “Lot” means each individual item or grouping of Personal Property offered at one time by Auctioneer.
“No Sale” occurs if Property is put up at the Auction but is not Struck Off or sold, and Online Auction Platform passes on such Property or declares a No Sale. “Online Auction Platform” means the hardware and software utilized to conduct the Auction online and to facilitate online bidding, including any associated, adjunct, and/or complementary websites, services, premiums and promotions. “Online Auction Platform Provider” means the provider of the Online Auction Platform and related services. "Online Bidding Period" means, with respect to an Auction conducted in whole or in part online, any established period during which online bids may be tendered. “Participant” means any person who attends, or otherwise participates in, the Auction (in person or remotely). The term Participant includes, but is not limited to, Attendees, Registered Bidders, Bidders, and Buyers. “Personal Property” means the tangible and moveable property, and any intangible property (including, without limitation, intellectual property) put up at the Auction. “Private Sale” means an event in which Property is sold by Seller, or on Seller’s behalf, other than at the Auction (including a sale at an auction conducted by a person or entity other than Auctioneer). “Private Sale Price” means the fair market purchase price of the Property paid, or agreed to, at a Private Sale in an arms-length transaction between Seller and the purchaser of the Property. If the Property is sold through a Private Sale for less than its fair market value, or in a transaction that is not an arms-length transaction, or is gifted by Seller, the Private Sale Price will be an amount equal to the fair market value of the Property in an arms-length transaction. “Property” means the Real Property and the Personal Property. “Purchase Price” means an amount equal to the Hammer Price or High Bid Subject to Confirmation, as the case may be, plus the Buyer’s Premium. “Real Property” means The real estate as identified in this AUCTION. And could be the separately deeded parcels of real property identified on an attachment to these Bidder Terms and Conditions. “Realty Closing” means the settlement on the sale of the Real Property at which Seller sells, transfers, assigns, and conveys Seller’s right, title, and interest in the Real Property to the Buyer, and the Buyer pays the Purchase Price for the Real Property. “Realty Closing Date” means the date on which the Realty Closing occurs. “Realty Deposit” is the good faith deposit made by the Buyer against the Purchase Price for the Real Property. “Realty Purchase and Sale Agreement” means the contract for the purchase and sale of Real Property put up at the Auction executed at the close of bidding by the Winning Bidder, or the Bidder making the High Bid Subject to Confirmation, as the case may be. In an Auction Subject to Seller’s Confirmation, Seller will execute the Realty Purchase and Sale Agreement only on Seller’s confirmation, approval, and acceptance of the High Bid Subject to Confirmation. "Registered Bidder" means a person or entity that has registered to bid at the Auction. “Registration Deposit” means, if required by Auction Company, the deposit made by a Registered Bidder in order to register for the Auction. Auctioneer may require that the Registration Deposit be made in certified funds or in such other form as determined by Auction Company/Auctioneer in Auction Company/Auctioneer’s discretion. “Reserve” or “With Reserve” means that property put up at auction may be withdrawn by the Auction Company/ Auctioneer and/or bids may be rejected by Auction Company/Auctioneer prior to the Fall of the Hammer. UNLESS SPECIFICALLY AND EXPRESSLY STATED OTHERWISE BY AUCTION COMPANY/AUCTIONEER IN WRITING, ALL PROPERTY IS BEING WITH RESERVE. “Reserve Price” means the minimum price that Seller is willing to accept for specific Property. If Property put up With Reserve is subject to a Reserve Price, such property will not be Struck Off unless the Reserve Price is met or waived. “Seller’s Confirmation” means Seller’s confirmation, approval, and acceptance of the High Bid Subject to Confirmation acknowledged and recorded by Auctioneer. "Struck Off" or "Strikes Off" means, with respect to any Property put up at the Auction, that Auction Company/Auctioneer has acknowledged the Winning Bid with the Fall of the Hammer, or by announcing "sold", or by giving a similar such indication. Property may be Struck Off electronically at the conclusion of a timed online auction event. (Also, "Knocked Down" or "Knock Down"). “Subject to Seller's Confirmation” means, with respect to any Property expressly identified in this Agreement as being sold Subject to Seller’s Confirmation, that after the High Bid Subject to Seller’s Confirmation has been received and acknowledged by Auctioneer, Seller may determine, in Seller's sole and absolute discretion, to (i) accept such bid or (ii) reject such bid. “Winning Bid” means the highest bid received and accepted (and if Subject to Seller’s Confirmation, confirmed by Seller). "Winning Bidder" means the Bidder who is recognized by Auction Company/Online Auction Platrorm/ and or Auctioneer as having made the Winning Bid. “Withdrawn”, “Withdrawal”, or “Withdraw” refers to the circumstance in which the Property is removed or withdrawn from the Auction, or in which it is determined that such Property will not be offered or sold at the Auction. “Without Reserve” means Absolute. 3. Bidder Registration; Bidder Qualification. All persons desiring to bid at the Auction, must register to bid and be issued a Bidder Number. In order to register to bid, each potential Bidder must provide such information (including identifying information and qualifications) as requested by Auction Company/Auctioneer. Each person registering to bid represents to the Auction Company/ Auctioneer that such person is at least eighteen (18) years of age and is otherwise legally able to enter into a contract. Auction Company/Auctioneer may refuse to accept a Bidder Registration from any potential Bidder, may refuse to issue a Bidder Number to any potential Bidder, and may revoke any Bidder Registration or Bidder Number. Each person registering to bid, or otherwise participating, at the Auction acknowledges and agrees that such person has read, understands, and agrees to be bound by, these Bidder Terms and Conditions. In Auctioneer’s discretion, bids may be received from a person who has not registered to bid, and/or who has not satisfied all requirements for Bidder Registration, and/or who has not been issued a Bidder Number, and, by bidding, such person will be bound by these Bidder Terms and Conditions. Auction Company/Auctioneer may establish such Bidder qualifications as Auction Company/Auctioneer determines, in Auction Company/Auctioneer’s discretion, are reasonably necessary or appropriate. Bidder qualification provisions (which may include proof of the availability of funds) are intended for the benefit of Auction Company/Auctioneer and Seller, and create no rights or interests in any other persons, including competing Bidders. Auction Company/Auctioneer and/or Seller may (but will not be required to) waive any Bidder qualifications, either globally or on a case by case basis.
4. Buyer's Premium. All Property offered at the Auction is subject to a Buyer’s Premium, which will be paid by the Buyer to Auction Company for Auction Company's own account. The Buyer's Premium will be calculated as a percentage of the Hammer Price, and will be added to the Hammer Price to determine the final Purchase Price. The Buyer’s Premium for Personal Property will be amount equal to TEN percent (10%) of the Hammer Price for each Lot Struck Off at the Auction.. The Buyer’s Premium for Real Property will be amount equal to TEN percent (10%) of the Hammer Price for each parcel of Real Property Struck Off at the Auction.
5. Access to Auction Site and/or Online Auction Platform. Participants assume all risks associated with their presence at the Auction Site and/or their access to any Online Auction Platform utilized by Auction Company. Any person may be denied access to the Auction, the Auction Site, and any Online Auction Platform utilized by Auction Company, and may be removed at the Auction Company’s discretion.
6. Nature of the Auction. The Auction for the Real Property may be an Absolute Auction as identified on the bidding site or as attached to these terms and conditions. This means that, once a bid is received on a parcel of Real Property put up at the Auction such parcel of Real Property will be sold to the highest Bidder. The Auction for the Real Property may be With Reserve as identified on the bidding site or as attached. Prior to the Fall of the Hammer, Auction Company/Auctioneer may Withdraw the Real Property, or any of it, from the Auction. The Real Property may be sold Subject to Seller's Confirmation as identified on the bidding site or as attached to these terms and conditions. This means that after the High Bid Subject to Confirmation has been received and acknowledged by Auction Company/Auctioneer, Seller may determine, in Seller's sole and absolute discretion, to (i) accept such bid or (ii) reject such bid. The Auction for the Personal Property may be an Absolute Auction as identified on the bidding site or as attached to these terms and conditions. This means that, once a bid is made on a Lot, the Lot will be sold to the highest Bidder. The Auction for the Personal Property may be With Reserve as identified on the bidding site or as attached to these terms and conditions. Auction Company/Auctioneer may Withdraw any Lot prior to the Fall of the Hammer on such Lot.
7. Bidding. Bidders may only bid at the Auction by agreeing to be bound by these Bidder Terms and Conditions. By bidding, each Bidder acknowledges and agrees that such Bidder is subject to, and bound by, these Bidder Terms and Conditions.
8. No Bid Retraction. No Bidder may retract a bid that has been acknowledged by Auction Company, Online Auction Platform, or Auctioneer or that has been submitted online. Each Bidder acknowledges and agrees that Auction Company/Auctioneer is acting in reliance on tendered bids in the conduct of the Auction, and that bid retraction is disruptive and interferes with the Auction, and that, as an inducement for Auction Company/Auctioneer to accept such Bidder’s Bidder Registration and for such Bidder to bid at the Auction, each Bidder agrees not to withdraw or to attempt to withdraw any tendered bid.
9. Online Auction. The following terms and conditions apply if the Auction is conducted, in whole or in part, online: 9.1. Online Bidding Registration. Anyone desiring to bid online, or to establish the possibility of bidding online, will be required to create an online bidding account by completing all necessary forms and providing required information. 9.2. Bidder Terms and Conditions; Notices and Announcements. The Auction will be conducted in accordance with these Bidder Terms and Conditions and any notices or announcements by Auctioneer and/or posted online or onsite. 9.3. Posted Times. All times are based on the Eastern Standard Time zone unless stated otherwise. Posted closing times and time displays are approximate. Auction Company reserves the right to close early or extend the Auction at Auction Company sole and absolute discretion. 9.4. Online Bidding Increments. Auctioneer may establish bid increments, and may modify or change bid increments, in Auction Company's sole and absolute discretion. 109. Records of Online Activity. Absent clerical errors, Auction Company’s records will be final and conclusive. 9.6. Technology Disruptions. Auction Company will not be responsible for technology disruptions, errors, or failures (including disruptions to bidding or the failure to execute, recognize, or record online bids), whether caused by (i) loss of connectivity, breakdown, disruption, or failure of the Online Auction Platform, (ii) breakdown, disruption, or failure of a Bidder's internet connection, computer, or system, or (iii) otherwise. Auction Company may, but will not be required to, continue, pause, suspend, delay, extend, reschedule, or close the Auction because of disruptions caused by technology failures, even after bidding has commenced. 9.7. Failures by Online Auction Platform Provider and its Affiliates or Contractors. Auction Company may use an Online Auction Platform Provider to facilitate the Auction. Under no circumstances will Auction Company be liable for any failure of the Online Auction Platform Provider to perform all or any of its obligations, or for the failure of any affiliates, employees, agents, representatives, or contractors of the Online Auction Platform Provider to perform their obligations. 9.8. Auto Extend Feature. Any Online Bidding Period may include an auto extend feature. This means that, if an online bid is entered within a set time period approaching the end of the established Online Bidding Period, the Online Bidding Period will automatically be extended for an additional amount of time in increments established by Auction Company, and will continue to be so extended until there is a set period of time that lapses during which no online bids are received, after which bidding will close. 9.9. Disclaimer. Auction Company makes no representations or warranties, and disclaims all representations and warranties, (i) that the Online Auction Platform or any related website or technology will be uninterrupted, error free or virus free, (ii) as to the results that may be obtained by using the Online Auction Platform or any related website or technology, or (iii) as to the accuracy, completeness, reliability, security, or current nature of the Online Auction Platform or any related technology. 9.10. Responsibility for Online Bids. Each Registered Bidder is responsible for all bids transmitted from such Registered Bidder’s computer or from such Registered Bidder’s account for the Online Auction Platform. If a Winning Bid is sent from the computer of a Registered Bidder, or from a Registered Bidder’s account for the Online Auction Platform, such Registered Bidder will be the Buyer. 9.11. No Reduction or Retraction of Online Bids. Except in extraordinary circumstances and in Auctioneer’s sole and absolute discretion, online bids may not be reduced or retracted. 9.12. Competing Online and Onsite Bids. In the event of contemporaneously made online and onsite bids, Auctioneer will determine which bid is the successful bid, and may, in Auction Company’s discretion, reopen the bidding. 9.13. Winning Bidders Subject to Certification by Auction Company. The final determination of the Winning Bidder is subject to certification by Auction Company; and any email or electronic message (whether generated manually or automatically) is subject to such certification. If an email invoice is not received it is the bidders responsibility to contact Company to identify won lots. Bidder is responsible for invoice total regardless if email invoice is received.
9.14 All items are sold AS IS, WHERE IS WITH ALL ITS FAULTS. ALL SALES ARE FINAL. NO REFUNDS AND NO EXCHANGES OR REPLACEMENTS. WE DISCLAIM ANY AND ALL WARRANTIES, EXPRESSED OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE. NO WARRANTIES ARE MADE THAT ANY OF THE MERCHANDISE COMPLIES WITH ANY APPLICABLE GOVERNMENTAL RULES, REGULATIONS OR ORDINANCES OF ANY KIND OR NATURE WHATSOEVER. All items are available for inquiries prior to bidding. Written and oral descriptions are the opinions of Old Capital Auction Company and should in no way be construed as a guarantee of any kind as to authenticity, age, condition, materials, or any other feature of items being sold. Old Capital Auction Company believes to the best of its knowledge that the information presented in any auction has come from reliable sources. However, such information is presented solely for the convenience of the prospective purchasers. Old Capital Auction Company attempts to catalog every lot correctly and will attempt to point out any defects but will not be responsible or liable for the correctness of the catalog or other descriptions of the lot. It is the responsibility of prospective bidders to examine all items in which they have an interest. By placing a bid, in any capacity, you signify that you have examined the items as fully as you desire and have had the opportunity to ask questions and receive answers from Old Capital Auction Company that you deem adequate. If you require absolute certainty in all areas of authenticity, and the results of your evaluation leave uncertainty in your mind, do not bid on the lot in question. We are not affiliated with any government entity and none of the items sold were seized. The successful bidder is the highest bidder acknowledged by Old Capital Auction Company. In the event of any dispute between bidders, or in the event of doubt on Old Capital Auction Company's part as to the validity of any bid, Old Capital Auction Company will have the final discretion either to determine the successful bidder or to re-offer and resell the article in dispute. If any dispute arises after the sale, Old Capital Auction Company's sale record is conclusive. While Old Capital Auction Company makes every effort to guarantee accuracy, in the event of a mistake on the part of auction company, and a lot is accidentally declared sold by mistake of the auction company, Old capital Auction Company reserves the right to cancel the sale and relist the lot in its sole discretion. The bidder assumes full responsibility for items at the fall of the hammer (or expiration of time in an online auction). A bid entered by mistake on the part of a bidder is NOT grounds for a cancellation of the bid. Each bidder is responsible for his or her own account and bids. By allowing access to another who enters a bid without your knowledge will NOT be grounds for a rescission of the bid(s). Therefore, any bid made on your account will bind you to the bid in accordance with these terms. If an entity places a bid on a lot, then the person executing such bid on behalf of the entity hereby agrees to personally guarantee payment for any successful bid.
10. Absentee Bids; Remote Bidding. In Auction Company’s discretion, Auction Company may receive Absentee Bids and/or bids tendered by remote Bidders (whether telephonically or otherwise). Absentee Bids may be initiated and advanced in accordance with Auction Company’s policies and procedures. Auction Company will make reasonable efforts to execute Absentee Bids, but Auction Company will have no liability to any Absentee Bidder for the failure to execute any Absentee Bids for any reason whatsoever. Each Absentee Bidder acknowledges and agrees that Property may be sold to another Bidder for the maximum amount of the Absentee Bid based on a bidding sequence that causes another Bidder to reach the such amount first. If the execution of an Absentee Bid at its maximum amount would require Auction Company to accept a bid that is less than a full bidding increment, Auction Company has the sole and absolute discretion to acknowledge or reject such bid. An Absentee Bidder may authorize Auction Company to advance the bid by one or more bidding increments after the maximum amount of the Absentee Bid is, or would be, reached. Auction Company acts as the agent of the Seller only, and the receipt and/or execution of Absentee Bids will not create an agency relationship between Auction Company and any Absentee Bidder.
11. Bid Increments. Bid increments are established and controlled by Auction Company, and may be adjusted or modified in Auction Company’s sole and absolute discretion. Auction Company may reject or refuse to accept bids that are considered trifling increases over the preceding bid.
12. Registered Bidders Responsible for Bids Placed on Bidder Number. Each Registered Bidder is responsible for the Bidder Number issued to such Registered Bidder. Auction Company/Auctioneer is not responsible for monitoring or policing the use of Bidder Numbers, and each Registered Bidder is responsible for all bids made on the Bidder Number issued to such Registered Bidder even if the Registered Bidder claims that the Bidder Number was lost, stolen, or misappropriated, unless notice of a lost, stolen, or misappropriated Bidder Number was provided to Auction Company/Auctioneer prior to an unauthorized bid being made. Absent a clerical error, Auction Company’s records will be conclusive.
13. Withdrawal of Property by Auction Company. Unless specific Property is, in express written terms, put up at Absolute Auction, Auction Company has the right to withdraw any Property from the Auction prior to the Fall of the Hammer.
14. Winning Bid; Buyer. Pursuant to these Bidder Terms and Conditions, the Bidder making the Winning Bid for any Lot or item of Personal Property or each parcel of Real Property, as the case may be, will be the Buyer of such Property.
15. All Property Sold “AS IS”, “WHERE IS”, and “WITH ALL FAULTS”. ALL PROPERTY IS BEING OFFERED AND SOLD IN ITS AS IS/WHERE IS CONDITION AT THE TIME OF THE AUCTION, WITH ALL FAULTS, INCLUDING ANY HIDDEN DEFECTS OF ANY NATURE. NEITHER AUCTION COMPANY NOR SELLER MAKES ANY REPRESENTATIONS, WARRANTIES, OR GUARANTEES WHATSOEVER, EXPRESS OR IMPLIED, REGARDING THE NATURE, VALUE, SOURCE, AUTHENTICITY, FITNESS, MERCHANTABILITY, AND/OR ANY OTHER ASPECT OR CHARACTERISTICS OF SUCH PROPERTY. NO STATEMENT ANYWHERE, WHETHER EXPRESS OR IMPLIED, INCLUDING VERBAL STATEMENTS AND WRITTEN STATEMENTS MADE BY AUCTION COMPANY, WILL BE DEEMED A WARRANTY OR REPRESENTATION BY AUCTION COMPANY OR SELLER. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, THERE ARE NO WARRANTIES OF TITLE, NON-INFRINGEMENT, AUTHENTICITY, ORIGIN, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE, ALL OF WHICH ARE EXPRESSLY DISCLAIMED. EACH BIDDER ACKNOWLEDGES AND AGREES THAT SUCH BIDDER CANNOT RELY, AND HAS NOT RELIED, ON ANY REPRESENTATION, WARRANTY, OR GUARANTY MADE BY THE SELLER OR ANYONE ACTING AS AGENT OF THE SELLER, ORALLY OR IN WRITING, ABOUT THE PROPERTY, OR ANY OF IT. BY BIDDING, EACH BIDDER ACKNOWLEDGES AND AGREES THAT SUCH BIDDER HAS HAD A FULL AND FAIR OPPORTUNITY TO INSPECT THE PROPERTY, AND IS RELYING SOLELY ON, OR HAS WAIVED, SUCH BIDDER’S INSPECTION AND INVESTIGATION (i) IN DETERMINING WHETHER TO BID, (ii) IN DETERMINING THE AMOUNT OF A BID, AND (iii) IN BIDDING.
16. Announcements. Subject to the limitation set forth in these Bidder Terms and Conditions, all terms and conditions and other announcements made by Auction Company on the day of the Auction are binding and take precedence over any advertisements or listings.
17. Bidder’s Inspection. By bidding, each Bidder acknowledges and agrees that such Bidder has had a full and fair opportunity to inspect the Property, and is relying solely on, or has waived, such Bidder’s inspection and investigation (i) in determining whether to bid, (ii) in determining the amount of a bid, and (iii) in bidding.
18. Description of Property. Any description of Property is based solely on visual impression, and is given solely for identification purposes, and does not create any warranty, expressed or implied, or representation by Auction Company
19. Contract of Sale for Personal Property. By operation of these Terms and Conditions and Section 2-328(b) of the Uniform Commercial Code, no additional or further writing will be required to evidence the existence of a contract of sale for any Personal Property Knocked-Down at the Auction regardless of the Purchase Price, and these Bidder Terms and Conditions, together with Auctioneer’s clerking sheets or other physical or digital notation identifying the Lot, the Hammer Price, and the Buyer, will be conclusive evidence as to the terms of the sale. These Bidder Terms and Conditions will be incorporated into and made a part of the contract between each Buyer and Seller.
20. Bidding by Seller. Absolute Auction – No Seller Bidding. Seller may not bid, directly or indirectly, on any Property put up at Absolute Auction. Reserve Auction – No Seller Bidding. Seller may not bid, directly or indirectly, at the Auction. Reserve Auction – Possibility of Seller Bidding. Seller, or those acting on Seller's behalf, may bid at the Auction provided that the ability of Seller to bid is announced at the Auction.
21. Conduct of the Auction. Auction Company will regulate all matters relating to the conduct of the Auction and Auction Company’s decisions will be final and binding. Online Auction Platform will have control over bidding, and Auction Company will resolve any and all disputes. Auction Company may, in Auction Company’s sole and absolute discretion, reopen the bidding (but will not be required to) if (i) a bid is made while the hammer is falling in acceptance of a prior bid or while bidding is otherwise being terminated, or (ii) promptly after the Fall of the Hammer or other termination of the bidding Auction Company is made aware of a bid that was unnoticed prior to the Fall of the Hammer or other termination of the bidding, and it is demonstrated to Auction Company’s satisfaction that such bid was, in fact, timely made, or (iii) promptly after the Fall of the Hammer or other termination of the bidding Auction Company is made aware that Auction Company and a bid assistant or ringman, or multiple bid assistants or ringmen, have acknowledged bids in the same amount bid from different bidders, or (iv) some other bid dispute arises. Any contract formed with the Fall of the Hammer will be subject to the conditions set forth in this Section. If bidding is reopened pursuant to this Section, the bid recognized by Auction Company prior to the reopening of the bidding will be held, and may not be retracted, and, if no further bids are received, such bid will be the Winning Bid.
22. Motor Vehicles and Equipment. Any and all motor vehicles and motorized equipment (including, without being limited to, automobiles, trucks, vans, recreational vehicles, motorcycles, motor scooters, tractors, earth moving equipment and other heavy equipment) must be paid in full prior to removal from the Auction Site; and, if any vehicles or equipment are paid for with a check, such vehicles or equipment will not be released unless and until the check clears and the funds have been received by Auction Company and are not subject to reversal.
23. All Sales Final. ALL SALES ARE FINAL. NO REFUNDS OR RETURNS. The Auction Company is not responsible for any typographical, pictorial or technical errors in information about Lots on Online Auction Platform. The Auction Company does its due diligence to evaluate Lots and but does not act as a specialist or expert on any related subject matter. The Auction Company makes no warranties or representation of any kind or nature with respect to Lots (including but not limited to representations or warranties as to the accuracy of description, genuineness, quality, authorship, attribution, provenance, period, culture, source, origin or safety). If you have any questions, e-mail the Auction Company. Preview is highly recommend to determine if the items up for auction meet your needs. Old Capital Auction Company makes every effort to be truthful and ethical with all leads, descriptions, and pictures. It is the responsibility of the buyer to ensure that the lead, description, and pictures meet the needs of the buyer.
24. Sales Tax. All Personal Property is subject sales tax unless an exemption applies.
25. Payment. All Personal Property must be paid for in-full by onsite Buyers on the day of the Auction Pick Up, at or before the conclusion of the Auction Pick Up, and before any Property is removed from the Auction Site by or on behalf of the Buyer. Online purchases must be paid for by end of pick up dates and times for the auction that lots were won. This will be clearly identified on all Online Auction Platform messaging. Onsite purchases may be paid in cash or approved check, and, if made available by Auction Company by credit card or debit card with additional 3.5% processing fee. Online purchases must be paid by credit card; provided, however, that any online purchases in excess of Two Thousand Five Hundred Dollars ($1,500.00) must be paid by certified funds unless other arrangements are made with Auction Company in Auction Company’s sole and absolute discretion.
26. Pick-up and Removal; Shipping. Each Buyer is responsible for removal of Lots purchased at the Auction, including shipping to remote Buyers. Pick-up and removal dates and times will be as posted or announced by Auction Company. Unless otherwise agreed, each Buyer is solely responsible for the disassembly, removal, shipping, and transportation of each Lot purchased by such Buyer. Disassembly and removal must be done in a workmanlike manner, and each Buyer will indemnify and hold harmless both Auction Company and Seller against any and all damage caused by the acts of the Buyer, or the Buyer's employees, agents, representatives, or independent contractors, in connection with the disassembly or removal of any Personal Property. Any and all damage to the Auction Site, including, without being limited to damage to land or buildings, caused by a Buyer or by an employee, agent, representative, or independent contractor of a Buyer, will be repaired by, or at the expense of, such Buyer to the satisfaction of Auction Company and Seller.
27. Abandoned Items. Any Lots not paid in full, not picked up and removed in the time provided , or for which payment has not cleared, will be considered abandoned and may be offered for sale at a later auction or subject to other disposition. Such abandonment does not relieve the Buyer of the Buyer’s obligation to make payment in full. Buyers are responsible for the full purchase price of all Lots Struck Off to them.
28. Returned Checks. Any checks that are returned unpaid will be subject to a returned check fee in the amount of $35. In addition to the foregoing, Auction Company will be entitled to recover, from the issuer of a returned check, all costs and expenses, including attorneys’ fees, for the collection of payment made in the form of a check that has been returned unpaid.
29. No Stop Payment Orders or Credit Card Chargebacks. Each Bidder agrees that such Bidder will not, under any circumstances, (i) issue a stop payment order with respect to any checks issued at or in connection with the Auction, or (ii) initiate a credit card chargeback with respect to any purchases at the Auction. Each Bidder further agrees that if, in violation of these Terms and Conditions, a stop payment order is issued or a credit card chargeback is initiated, these Bidder Terms and Conditions will be conclusive evidence of the Bidder’s (i) waiver of any rights to issue a stop payment order or to initiate a credit card chargeback, and (ii) agreement not to issue a stop payment order or to initiate a credit card chargeback; and each Bidder acknowledges and agrees that on Auction Company’s presentation of these Bidder Terms and Conditions to the bank, credit card company, or other financial institution against which a check was drawn or that issued the credit card on which charges were made, such bank, credit card company, or other financial institution will reverse any stop-payment order and/or reverse or deny any credit card chargeback, and will re-credit all amounts to or for the account of Auction Company. If, in violation of these Bidder Terms and Conditions, a Bidder issues a stop payment order or initiates a credit card chargeback, such Bidder, even if successful, will remain liable for all purchases made at the Auction, and will be responsible for all costs and expenses, including attorneys’ fees, incurred by or on behalf of Auction Company and/or Seller in challenging the stop payment order or credit card chargeback and in collecting payment. Each Bidder acknowledges and agrees that the covenant not to issue a stop payment order or to initiate a credit card chargeback is a condition to the issuance of a Bidder Number to such Bidder, and is being made as an inducement for Auction Company to accept such Bidder’s Bidder Registration, to issue a Bidder Number, and to permit the Bidder to Bid at the Auction. Each Bidder acknowledges and agrees that Auction Company is relying on the covenant not to issue a stop payment order or to initiate a credit card chargeback in accepting such Bidder’s Bidder Registration, in issuing a Bidder Number, and in permitting the Bidder to bid at the Auction.
30. Claims. Unless otherwise provided in writing, after a Lot has been removed from the Auction Site by or on behalf of a Buyer, no claims or returns will be allowed and no claim will be allowed for adjustments or rescission of any sales based on the failure of a Lot to correspond with any standard and/or expectation of the Buyer.
31.Title and Risk of Loss for Personal Property. Subject to a possessory lien in favor of Auction Company and Seller, title and risk of loss with respect to Personal Property pass to the Buyer with the Fall of the Hammer.
32. Buyer’s Remedies; Bidders/Buyers Not Entitled to Incidental or Consequential Damages. To the extent that any Bidder or Buyer may be entitled to damages or remedies, the sole and exclusive remedy available to Bidders and Buyers is a return of the Purchase Price actually paid. Under no circumstances will Auction Company or the Seller be liable for incidental or consequential damages, including, without being limited to lost profits or reduced productivity. Each Bidder acknowledges and agrees that no Bidder or Buyer is entitled to specific performance or other equitable relief.
33. Seller’s Remedies. If any Buyer breached such Buyer’s obligations under these Terms and Conditions or under a sale contract with the Seller of Property Struck Off at the Auction, such property may be resold and the breaching buyer will be responsible for any and all damages, including any deficiency or reduction in the Purchase Price, along with incidental damages.
34. Indemnification. Each Bidder agrees to indemnify and hold Auction Company and Seller harmless from any current or future claim regarding the Auction or the Property, including, without being limited to, fitness, use, damage, safety, or injuries to persons or property.
35. Private Sale. No Participant or Registered Bidder may offer to enter into a Private Sale for the purchase of any of the Property prior to or during the Auction. If any of the Property is not Struck Off at the Auction and Seller enters into an agreement to sell (i) any of the Personal Property within ten (10) days after the Auction, and/or (ii) any of the Real Property within ninety (90) days after the Auction, Auction Company will be entitled to receive an amount equal to Auction Company’s full Commission and Buyer’s Premium.
36. Waiver. Certain provisions of these Bidder Terms and Conditions are for the exclusive benefit of Auction Company and/or Seller(s). Such provisions, including, without being limited to, Bidder registration and qualification requirements, deposit and payment terms (including the method, form, and timing of payment), removal and delivery terms, and Property inspection terms), do not create, and will not be deemed to create, any benefits or rights in favor of any other persons, including competing Bidders, and may not be enforced by any other persons. Either globally or on a case by case basis Auctioneer and/or Seller may (but will not be required to) waive any provisions of these Bidder Terms and Conditions that are intended for the benefit of Auction Company and/or Seller.
37. Bid Pooling. Bid pooling occurs when Bidders collude to regulate, and artificially suppress, bidding in an effort to reduce the Hammer Price. Bid pooling is a felony. Anyone participating in bid pooling will be referred for prosecution.
38. Theft. Theft is a serious offense, and, if discovered, will be prosecuted to the fullest extent of the law. Instances of theft will result in immediate termination of bidding and removal privileges. 41. Governing Law; Jurisdiction; Venue; Waiver of Jury Trial. These Bidder Terms and Conditions will be governed by and construed in accordance with the laws of the State of Indiana, including its statutes of limitations, but without regard to its rules governing conflict of laws. All claims, disputes, and other matters between the parties will be brought in the state or federal courts sitting in and for the Harrison County, Indiana, which courts will have exclusive jurisdiction, and will be the exclusive venue, for any and all such claims, disputes, and other matters. By submitting a Bidder Registration and accepting a Bidder Number each Registered Bidder irrevocably and unconditionally (i) agrees that any claim, suit or cause of action relating to these Bidder Terms and Conditions, or the transactions contemplated hereby, will be brought in the state or federal courts sitting in and for the Harrison County, Indiana; (ii) consents to the jurisdiction of such courts for any such claim, suit or cause of action; (iii) waives any objection that such party may have to the laying of venue of any such claim, suit or cause of action in such courts; and (iv) waives any objection to the bringing of such claim, suit or cause of action in such courts on the grounds of forum non conveniens. Each Bidder, Buyer, and other Participant waives the right to a jury trial.
39. Attorneys’ Fees. If any Participant breaches such Participant’s obligations under these Bidder Terms and Conditions, Auctioneer and/or Seller will be entitled to recover all costs and expenses, including attorneys’ fees incurred in enforcing their respective rights hereunder. Auction Company's Right to Bid: , it is hereby disclosed that, with permission from the seller, the auction company and any auction staff members reserve the right to bid on their own personal behalf.
Sebae Data Solutions, Inc. SERVICE TERMS AND CONDITIONS ACCEPTANCE OF TERMS Sebae Data Solutions, (the makers of Auction Flex & HiBid (formerly Bidopia) hereafter referred to as "Sebae"), provides its service to you, subject to the following Terms & Conditions ("TAC"), which we may update from time to time without notice to you. The most current version of the TAC can be found found at any time by visiting the link: http://www.auctionflex.com/showtandc.ap USE AND REGISTRATION Our services are available only to, and may only be used by individuals who can form legally binding contracts under applicable law. Without limiting the foregoing, our services are not available to children (persons under the age of 18) or to temporarily or indefinitely suspended members. If you are under the age of 18, you can use this service only in conjunction with, and under the supervision of your parents or guardians. If you do not qualify, please do not use our service. If you are registering as a business entity, you represent that you have the authority to bind the entity to the TAC.
REGISTRATION OBLIGATIONS In consideration of your use of the Service, you agree to: (a) provide true, accurate, current and complete information about yourself as prompted by the Service's registration form (such information being the "Bidder Information") and (b) maintain and promptly update the Registration Data to keep it true, accurate, current and complete. If you provide any information that is untrue, inaccurate, not current or incomplete, or Sebae has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, Sebae has the right to suspend or terminate your account and refuse any and all current or future use of the Service (or any portion thereof). DESCRIPTIONS OF SERVICE Sebae provides the following services under the Auction Flex & HiBid trademarks: Integrated Web Service (for auctioneers), internet bidding (absentee, online-only, & webcast). You can learn more about these services in the following sections. HIBID INTERNET AUCTION PLATFORM & WEB SERVICE DESCRIPTION Sebae provides the HiBid (formerly Bidopia) Internet Auction Platform & Web Service ("HWS") under the HiBid trademark as a software solution for auctioneers wishing to extend the audience of their live auctions to the internet. The HWS provides various features including internet absentee bidding, internet-only auctions, and webcast auctions. The HWS is able to changes its appearance to coincide with the website that it is powering. Accordingly, the HWS powers the www.hibid.com website as well as numerous Auction Flex customer websites. This ability to change appearance is a feature of the HWS. Much like internet merchant account providers can host a secure web page for a vendor to easily process payments, the HWS hosts certain portions of the auctioneer's website to easily enable advanced features such as internet bidding. INTERNET ABSENTEE BIDDING Internet absentee bidding allows you to place a bid for an item in advance of an auction. This allows you to place bids on lots without actually attending the auction.
INTERNET-ONLY AUCTIONS Internet only bidding allows you to place a bid for an item prior to the auction lot closing online. In an internet-only auction there is no live auction. WEBCAST AUCTIONS Webcast auctions allow you to bid in real-time against other bidders or place pre-bids prior to a lot going "live". Lots are sold in accordance with the Auctioneer's terms and conditions which are accessible from each lot's page. It is your responsibility to read and accept the Auctioneer's terms and conditions prior to placing your bid. When you place a bid you are agreeing to be bound by the Auctioneer's & Sebae's terms and conditions. By placing a bid you are entering into a legally binding and enforceable contract. Please keep in mind that you are bidding against other internet bidders as well as floor bidders, phone bidders, and regular absentee bidders (this list does not constitute a complete list of bidder types but does highlight the common bidder channels). The auction company, at their discretion, can approve or deny bidders. The auction company reserves the right to accept or deny bidders for any reason. Prior to approval the auction company may contact you to determine your credit worthiness. If the auction company approves your bid, the auction company will then process your bid in accordance with their terms and conditions. Should your bid for a lot prove successful, the auction company may contact you to arrange for payment & shipping (if applicable). If the auction company required registration via a credit card, the auction company reserves the right to process your winning bids to the credit card provided during registration. Sebae, through the Auction Flex & HiBid products & services, facilitates the internet bidding process between the Auction Company & the bidder. Sebae is in no way a party to the transaction. Because Sebae is not a party to the transaction, you accept that you will have no claim or cause of action against Sebae in respect of the sale (or non-sale) of any Lot. If you have a dispute with an Auction Company or another user of the Service with regard to the sale (or non-sale) of any Lot you agree that Sebae, its officers, agents, employees will not be liable for losses (including, but not limited to, loss of profits, special loss, indirect loss and consequential los), costs, damages, liabilities, claims, demands and expenses of any kind arising out of or connected with such dispute. You also accept that none of the aforementioned are under any obligation to take any action to resolve any dispute between you and an Auction Company.
All items are sold AS IS, WHERE IS WITH ALL ITS FAULTS. ALL SALES ARE FINAL. NO REFUNDS AND NO EXCHANGES OR REPLACEMENTS. WE DISCLAIM ANY AND ALL WARRANTIES, EXPRESSED OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE. NO WARRANTIES ARE MADE THAT ANY OF THE MERCHANDISE COMPLIES WITH ANY APPLICABLE GOVERNMENTAL RULES, REGULATIONS OR ORDINANCES OF ANY KIND OR NATURE WHATSOEVER. All items are available for inquiries prior to bidding. Written and oral descriptions are the opinions of Old Capital Auction Company and should in no way be construed as a guarantee of any kind as to authenticity, age, condition, materials, or any other feature of items being sold. Old Capital Auction Company believes to the best of its knowledge that the information presented in any auction has come from reliable sources. However, such information is presented solely for the convenience of the prospective purchasers. Old Capital Auction Company attempts to catalog every lot correctly and will attempt to point out any defects but will not be responsible or liable for the correctness of the catalog or other descriptions of the lot. It is the responsibility of prospective bidders to examine all items in which they have an interest. By placing a bid, in any capacity, you signify that you have examined the items as fully as you desire and have had the opportunity to ask questions and receive answers from Old Capital Auction Company that you deem adequate. If you require absolute certainty in all areas of authenticity, and the results of your evaluation leave uncertainty in your mind, do not bid on the lot in question. We are not affiliated with any government entity and none of the items sold were seized.
In no event shall auctioneer's liability for any breach, or act or omission exceed the Purchase Price (as defined herein) actually paid by the buyer, and in no event shall Old Capital Auction Company have any liability under any circumstances for special, indirect, incidental or consequential damages (including for loss of profits or revenue, costs of obtaining alternative property, claims of customers of buyer or otherwise), whether in contract, tort, negligence, strict liability, or otherwise, arising out of, resulting from or in any way relating to the lot or its purchase, sale, delivery or non-delivery, or the acts or omissions of Old Capital Auction Company.
The successful bidder is the highest bidder acknowledged by Old Capital Auction Company. In the event of any dispute between bidders, or in the event of doubt on Old Capital Auction Company's part as to the validity of any bid, Old Capital Auction Company will have the final discretion either to determine the successful bidder or to re-offer and resell the article in dispute. If any dispute arises after the sale, Old Capital Auction Company's sale record is conclusive. While Old Capital Auction Company makes every effort to guarantee accuracy, in the event of a mistake on the part of auction company, and a lot is accidentally declared sold by mistake of the auction company, Old capital Auction Company reserves the right to cancel the sale and relist the lot in its sole discretion.
The bidder assumes full responsibility for items at the fall of the hammer (or expiration of time in an online auction). A bid entered by mistake on the part of a bidder is NOT grounds for a cancellation of the bid. Each bidder is responsible for his or her own account and bids. By allowing access to another who enters a bid without your knowledge will NOT be grounds for a rescission of the bid(s). Therefore, any bid made on your account will bind you to the bid in accordance with these terms. If an entity places a bid on a lot, then the person executing such bid on behalf of the entity hereby agrees to personally guarantee payment for any successful bid.
Any bidder that represents a purchaser is personally and individually responsible for any obligations of the purchaser set forth in these terms and conditions. All purchasers purchasing pursuant to a valid resale license will need to provide appropriate documentation for removal of state sales tax.
Bidder's bid at all times represents an irrevocable offer by bidder to enter into a binding contract to purchase the lot in accordance with the specific provisions of the listing and these general terms and conditions, as applicable, even if a higher bid was received by Old Capital Auction Company. In the placing of any bid the bidder understands and agrees that the bid, once accepted by Old Capital Auction Company, will be the winning bid if there is no higher bid by another bidder and if any reserve or reduced reserve on the lot is exceeded by the bid. All bids are binding, irrevocable and non-cancelable by bidder. Old Capital Auction Company has final discretion on sale of a lot. The decisions of Old Capital Auction Company are final. In the unlikely event that we lose our internet connection, Old Capital Auction Company reserves the right in its sole and absolute discretion to cancel the remainder of the auction.
PAYMENT: ALL ITEMS NOT PICKED UP DURING SCHEDULED PICK UP TIME WILL BE CONSIDERED ABANDONED, TOTAL BALANCE DUE WILL BE CHARGE TO CREDIT CARD ON FILE. IF IN ITS SOLE DISCRETION OLD CAPITAL AUCTION COMPANY AGREES TO REFUND A PURCHASE.YOU WILL STILL BE RESPONSIBLE FOR SHIPPING AND HANDLING FEES AS WELL AS RETURN SHIPPING. THE PREVIOUSLY PAID BUYER'S PREMIUM IS NOT REFUNDABLE. PLEASE BID RESPONSIBLY AND DIRECT ANY QUESTIONS YOU MAY HAVE PRIOR TO PLACING A BID.
IN THE EVENT THAT YOU BID AND ARE DEEMED THE WINNER OF AN ITEM BY OLD CAPITAL AUCTION COMPANY, BUT FAIL TO MAKE PAYMENT OR ARRANGE PAYMENT BY END OF STATED PICK UP TIME IN ACCORDANCE WITH THE INVOICE SENT TO YOU, THE CREDIT CARD ON FILE WILL BE AUTOMATCIALLY CHARGED INVOICE PRICE. ITEMS NOT PICKED UP BY END OF PICK UP DAYS WILL BE DEEMED "ABAONDON" AND BECOME PROPERTY OF THE AUCTION CENTER, OR RETURNED TO THE CONSIGNOR. ANY ITEMS NOT PICKED OR THERE IS A DISPUTE WITH ANY THIRD-PARTY PAYMENT INTERMEDIARY, SUCH AS A CREDIT CARD COMPANY, YOU WILL BE ASSESSED A CHARGE OF 15% OF THE HAMMER PRICE AS LIQUIDATED DAMAGES. BY BIDDING ON ANY SUCH LOT, YOU HEREBY AGREE TO THE PAYMENT OF SUCH LIQUIDATED DAMAGES AS A RESULT OF THE IRREPARABLE HARM THAT WILL BE SUSTAINED BY Old Capital Auction Company. FURTHERMORE, IN THE EVENT THAT A WINNING BIDDER FAILS TO MAKE ANY PAYMENTS UNDER THESE TERMS AND CONDITIONS, INCLUDING THE LIQUIDATED DAMAGES DESCRIBED HEREIN, WE RESERVE THE RIGHT TO REPORT SUCH NONPAYMENT TO CREDIT AND COLLECTION AGENCIES IN OUR SOLE DISCRETION.
Old Capital Auction Company reserves the right to reject any registration and/or bid at any time and at its sole discretion. Old Capital Auction Company additionally reserves the right in its sole and unlimited discretion at any time prior to, during, or even after the close of the auction to exclude any person or individual bid and to award any lot to the highest accepted bid. Old Capital Auction Company reserves the right to withdraw any lot at any time before, during, or after the auction without liability.
If any dispute occurs between a bidder and Old Capital Auction Company that cannot be resolved, then the parties agree to the rules, regulations and procedures of the dispute resolution described herein and agree to the following procedures for resolution of the dispute: If either party alleges that the other party is in default under this agreement, then the dispute or allegation shall be submitted to binding arbitration in the State of Indiana. Old Capital Auction Company shall select a neutral arbitrator. The arbitration process shall be initiated by either party requesting arbitration which must be served upon the other party by certified mail. Failure to participate in the arbitration is a default. If an arbitration procedure is initiated by request of a bidder, the bidder shall bear the financial burden of fees to be paid to an arbitrator to that maximum amount available by law. Each party shall simply present their case (limited to a maximum of one hour for each party) to the arbitrator. By bidding on any lot, the bidder hereby agrees and acknowledges that it is completely waiving its rights to have the dispute heard in a court of law. The bidder agrees that the arbitrator shall have complete jurisdiction over the dispute and can issue an award to the prevailing party. Arbitration fees shall be paid by the party prevailing in the dispute or as seen fit by the arbitrator. Any award determined by the arbitrator shall be binding and the prevailing party shall be awarded full reimbursement of its actual paid fees in connection with the dispute. By participating in an Old Capital Auction Company auction, bidder specifically agrees to the dispute resolution specified in the foregoing paragraph as bidder's SOLE means to resolve any and all disputes which may arise with Old Capital Auction Company. By doing so bidder specifically agrees that bidder will not file a dispute of any kind with an online venue, a credit card, or any other third-parties.
The bidder hereby waives, releases, remises, acquits, and forever discharges Old Capital Auction Company and any consignor, and shall indemnify and hold them harmless against any claims, actions, cause of action, demands, rights, damages, costs, expenses, or compensation whatsoever, direct or indirect, known or unknown, foreseen or unforeseen, which the bidder now has or which may arise in the future on the account of or in any way growing out of or connected with any defects, latent or otherwise, or the physical condition of any items or lots purchased or any law or regulation applicable thereto. Old Capital Auction Company or consignor shall provide notice to bidder promptly of any such claim, suit, or proceeding.
If any provision of these terms and conditions or of any listing be void, unlawful or unenforceable under applicable law, that provision shall be modified to the minimum extent possible to comply with applicable law, or if modification is not possible, deleted and severed from the remaining provisions. Any such modification, deletion or severing shall not affect the enforceability or validity of any of the remaining provisions.
These terms and conditions, the contents of any listing and the contractual relationship between Old Capital Auction Company and any bidder shall be interpreted under and governed by the laws of the State of Indiana.
Definition of "Unreserved Auction", is an auction in which the item for sale will be sold regardless of price. This contrasts with a reserve auction, where the item for sale may not be sold if the final bid is not high enough to satisfy the seller. In practice, an auction advertised as "absolute" or "no-reserve" may nonetheless still not sell to the highest bidder on the day, for example, if the seller withdraws the item from the auction or extends the auction period indefinitely. Notwithstanding that an auction is advertised to be with No Reserve, a starting price may be stipulated by the seller. Any bids that do not meet or exceed the starting price set by the Seller are deemed to be invalid.
**IMPORTANT - PLEASE READ**
AS YOU HAVE ACKNOWLEDGED BY AGREEING TO THE TERMS AND CONDITIONS OF THIS AUCTION, THERE ARE NO REFUNDS OR EXCHANGES. IN THE EVENT THAT YOU REQUEST AND ARE GRANTED BY OLD CAPITAL AUCTION COMPANY, A RETURN OR REFUND, YOU AGREE THAT YOU ARE STILL RESPONSIBLE FOR PAYING SHIPPING FEE (FORWARD & BACKWARD) OF PACKAGE THAT IS RETURNED, LESS APPLICABLE TAXES, PLUS THE ENTIRE BUYER'S PREMIUM FOR EACH ITEM AS WELL AS ALL OF THE SHIPPING/HANDLING CHARGES. ACCORDINGLY
All items sold "AS IS, WHERE IS" with all faults.
* All descriptions believed accurate.
* Bidder inspection is encouraged.
* Inspection dates are identified on every auction.
* By placing a bid, bidder signifies that they have examined the items to their satisfaction, or that they have chosen not to personally examine them.
* Reserve the right to reject any bid at the sole discretion of Old Capital Auction Company.
* 7 % Indiana Sales Tax
* Buyer's premium rate 10%
* Payment types accepted in USD. Cash, Local Check W/ID, Debit/Credit Card with 3.5% processing fee
* Required time of pickup/checkout is identified on every auction listing
* We will not ship anything over 70 pounds. Shipping policy Per USPS Flat Rate Policy with additional $10.00 Processing fee. Glassware is an additional $20.00 processing fee for shipping. Old Capital Auction Company is in no way liable for damage in transit. All shipping insurance claims will be filled by the buyer and disputed accordingly with shipper. Items are buyer responsibility once hammer falls on that lot.
* Absentee bids accepted by calling auction center with established customers
* For internet-only auctions, Old Capital Auction Company reserves the right to cancel, pause, and/or reopen the auction in the case of system failures. If auction is cancelled and/or reopened Old Capital Auction Company reserves the right to delay pick up of items.
* Auction Company: AC32000017
* Unless otherwise coordinated with Old Capital Auction Company, bidders that do not pay and claim property by end of specified pick-up date and time will be declined from future registrations with us and reported publicly to hibid. Said person will not be allowed to register and bid at Old Capital Auction Company future auctions.
Seller User Terms
Bidder User Terms