Auction Terms & Conditions ***BUYER'S PREMIUM: A buyer's premium equal to 13% will be applied to all winning bids. The buyer's premium percentage will be applied to each lot sold, to be paid by the buyer, as part of the final purchase price. ***PAYMENT: Payment for any purchase is considered due and payable on receipt of invoice. All payments are due on the date of the scheduled pickup. Bidders who have not paid by the date of the scheduled pickup will be charged through their registered credit/debit card at end of pickup date. Bidders who do not pick up items on the day of the pickup but have paid will have 3 business days to pick up, make arrangements to pick up or request shipping for the items. ***It is the Bidders FULL responsibilty to make contact with office personnel (260-441-8636) PRIOR TO AUCTION ENDING for availabilty of alternate pickup time/day with an additional service fee for packing and transporting and admin charge. Service fees and admin charges are at Scheerer McCulloch's discretion and are NOT negotiable. Items not paid in full by the end of designated pickup date may be re-listed and accompanied with a non-payment submission to the HiBid auction bidding platform. Payment Methods. Scheerer accepts cash, the credit/debit card registered on the bidder's account in hibid.com ("Hibid") or check for payment (see terms below for payment method requirements). Credit Card Policy. Bidders may request to pay with the credit/debit card they register through Hibid. Bidders paying with this method will be charged the current Hibid credit card processing fee in addition to buyer's premium, sales tax & bid price. Personal Check Policy. Personal checks will be accepted only if credit has been established with Scheerer McCulloch. Items paid for by check may be held by Scheerer McCulloch for 10 business banking days. The purchaser agrees to pay Scheerer McCulloch a handling charge of $35 for any check dishonored by the drawee. Scheerer McCulloch requires cash ONLY or an irrevocable wire transfer for lots containing jewelry, coins, precious metals and/or other higher value items. Winning bidder is responsible for any wire transfer fees. Invoices with high value total may also require wire transfer only payment, at the auctioneers discretion. ***All purchases must be paid for before merchandise is removed from auction premises. If the purchaser breaches any of its obligations under these conditions of sale, including its obligation to pay in full the purchase price for all items purchased, Scheerer McCulloch Auctioneers, Inc. may exercise its rights under the law, which may include canceling the sale and applying any payments made by the buyer to the damages caused by the breach, and/or offering at public auction, without reserve, any lot or item for which the buyer has failed to pay in full or failed to remove from the premises within 3 days. The buyer will be held liable for any deficiency plus all costs of sale. The liability of Scheerer McCulloch Auctioneers, Inc. to any buyer in regard to any item shall not exceed the purchase price actually paid by such buyer. VEHICLE PURCHASES: ***The auctioneer STRONGLY recommends bidders to schedule a professional mechanic inspection on all vehicles before bidding. Requirements to bid: -Bidder must be older than 21 and have a valid driver's license. -If the bidder is paying with check or credit/debit, bidder agrees to wait 10 days after payment is made to pick up the vehicle. -If paying with cash, vehicle will be released at the time of payment. Instructions after winning: Make payment at The Lantern with a valid ID Depending on payment: - Personal Check or Cashier's Check - Auction company will deposit the check the next business day. Once 10 days have passed, vehicle will be available for pickup. - Credit/debit/paypal - Once 10 days have passed, vehicle will be available for pickup. - Cash - Vehicle will be released at the time of payment. - Winning bidder will need to provide proof of insurance on vehicle at time of pickup. - Vehicle, title and keys will not be released without proof of insurance is provided. FIREARM(S) BIDDER & TRANSFER INFO: ***Please Note - the ONLY Accepted Payments for Firearms - Cash/Wire Transfer or Check. MUST PROVIDE A VALID INDIANA DRIVIERS LICENSE. THERE WILL BE NO EXCEPTIONS. All out if state firearm purchases: All firearms excluding muzzleloaders will be shipped after payment is made to Scheerer McCulloch auctioneers, from FFL dealer to FFL dealer at buyer's expense. All in state firearm purchases: All firearms excluding muzzleloaders will be required to be picked up by buyer on record at a local gun shop of auction companies choice in order to complete necessary background check. In the event an Indiana buyer would like their firearm shipped, All firearms will be shipped to FFL dealer of buyer's choice within the state of Indiana. At buyer's expense. NO EXCEPTIONS. The buyer shall be responsible for the transfer fee per firearm, which is payable directly to the FFL at time of transfer. Gun shop has the right to reserve a hold on a firearm until customer gets approved by background check. Firearms will not be released to gun shop UNTIL verified payment has cleared. Firearms will be available for pickup the day following verified payment., excluding checks (10 business days for check to clear). It is the responsibility of the bidder to arrange method and delivery of complete payment with auctioneer. ***REMOVAL: All items must be paid for in full before they may be removed from auction location. All items MUST be removed from auction location during announced removal period. Items paid for and not removed from auction premises after 3 business days may be considered abandoned by the auctioneer. Abandoned items may be re-listed at the discretion of the auctioneer. ***Items picked up after scheduled pickup day may include a moving charge. ***LOCAL PICK -UP ONLY. It is the bidder's sole responsibility to contact the auction house PRIOR to auction day and PRIOR to bidding to request shipping of any lots. If the purchaser breaches any of its obligations under these Conditions of Sale, including its obligation to pay in full the purchase price of all items for which it was the highest successful bidder, Scheerer may exercise all of its rights and remedies under the law including, without limitation, (a) canceling the sale and applying any payments made by the purchaser to the damages caused by the purchaser's breach, (b) offering at public auction, without reserve, any lot or item for which the purchaser has failed to pay in full the purchase price, holding the purchaser liable for any deficiency plus all costs of sale, (c) demanding specific performance from the purchaser and/or (d) collecting from purchaser all reasonable costs and attorney fees incurred in pursuit of the remedies set forth in this paragraph. In no event will the liability of Scheerer to any purchaser with respect to any item exceed the purchase price actually paid by such purchaser for such item. Purchases are NOT subject to acceptable shipping quotes. Invoices must be paid in full within 3 days, per bidder agreement accepted terms. ***CONDITION OF ITEMS: Neither the auctioneer nor the seller shall be responsible for the correct description, genuineness, authenticity of, or defect in any article. The auctioneer will make a good-faith effort to correctly describe all articles and their condition; however, neither the auctioneer nor the seller make any guarantee or warranty regarding the accuracy of article descriptions. *NO SALE WILL BE VOIDED OR ADJUSTED TO ACCOUNT FOR INCORRECT DESCRIPTION, CATALOG ERROR, OR IMPERFECTION NOT NOTED. ALL ITEMS ARE SOLD AS-IS, WHERE-IS, WITH NO WARRANTIES EXPRESSED OR IMPLIED. IN SOME CASES, IT IS THE RESPONSIBILITY OF THE BIDDER TO INSPECT ALL ARTICLES AND SATISFY ALL INQUIRIES BEFORE BIDDING!* All articles will be made available for public inspection during announced inspection periods. Bidders may also contact the auctioneer at any time prior to the auction to discuss articles being sold or request additional photographs. It is the responsibility of the buyer to satisfy all inquiries regarding article description and condition prior to bidding. ***THE HIGHEST BIDDER: In the case of a disputed bid, the auctioneer shall have sole discretion in determining the buyer and may also withdraw the lot or re-offer the lot for sale. Floor bidders have precedent over absentee bidders in the case of a tie winning bid . ***INDEMNIFICATION: Purchaser shall defend and indemnify and hold auctioneer and seller harmless from and against all claims and liabilities relating to the condition of, removal of, or use of the articles purchased or failure of user to follow instructions, warnings or recommendations of the manufacturer, or to comply with federal, state, and local laws applicable to such articles, including OSHA requirements and Environmental Protection Agency requirements, or for proximate or consequential damages, costs or legal expenses arising there from. ***RESPONSIBILITY FOR ARTICLES: At the time each article is sold, ownership of and responsibility for that article is transferred immediately to winning bidder. After articles are removed from auction location or the announced removal period has ended, the auctioneer and the seller will have no obligation to the winning bidder and no responsibility for articles sold. Bidders are responsible for inspecting each article sold before it is removed from site. ***ACCEPTANCE OF TERMS AND CONDITIONS: Any and all bids made by any and all bidders are legally binding contracts to purchase articles for the price offered according to the terms and conditions listed herein. In the event that a winning bidder does not perform within the terms of this contract, the auctioneer may, in addition to all other remedies allowed by law, retain all monies received as deposit or otherwise as liquidated damages. Articles not paid for and removed within the announced payment and removal times may be resold at public or private sale without further notice, with no reserve; any deficiency, together with all expenses and charges of resale, including legal fees, will be charged to the defaulting purchaser. ***AMENDMENT/ADDENDUM TO TERMS AND CONDITIONS OF AUCTION: Any amendment or addendum to the terms and conditions of the auction will be announced by the auctioneer prior to the start of the auction and will supersede the applicable terms and conditions listed herein. ***BIDDING on any item indicates your acceptance of these terms and all other terms announced at the time of sale. --------------------------------------------- ------------------------------------------ Terms Of Use Seller User Terms Bidder User Terms --------------------------------------------- ------------------------------------------ Bid Increments Your bid must adhere to the bid increment schedule. Bid Amount Bid Increment 0.00 - 27.50 2.50 USD 27.51 - 75.00 5.00 USD 75.01 - 190.00 10.00 USD 190.01 - 485.00 15.00 USD 485.01 - 975.00 25.00 USD 975.01 - 4,950.00 50.00 USD 4,950.01 - 9,900.00 100.00 USD 9,900.01 - 49,500.00 500.00 USD 49,500.01 - 9,999,999.99 10,000.00 USD