AUCTION TERMS AND CONDITIONS
** All bids will be processed on the Bidder's credit card following the auction sale. Any purchased items not picked up within seven (7) days of the auction will be considered abandoned and resold for storage.***
At the fall of the hammer during a live webcast auction, the item will be designated as either a Sold Lot, or a Passed lot. Sold lots will either have no reserve, have met the reserve or the Seller has instructed us to remove the reserve. If an item is subject to a reserve or the Seller has instructed us to record the high bid, then the item will be designated as a passed lot. The Auctioneer will serve notice to the buyer as soon as they have acceptance or a counter offer for the Buyer. In the event that the Seller has not responded to the conditional sale within 2 business days of the sale, the buyer may send notice to the auction that their offer is withdrawn.
1. Graham Auctions (Auctioneers) hereby grants to the online account holder or party whose signature appears on the Bidder's Registration Agreement (Bidder), the right to use the number shown hereby for the purpose of bidding at an auction sale to be conducted by Auctioneers. Such right is granted at the Auctioneer's sole discretion and may be revoked at any time. New online bidder profiles may take up to two business days to be approved. Unapproved profiles will have bids placed in a pending status until approved.
2. Bidder acknowledges he or she has received, read and understands these terms as printed on the inside back cover of the Listing Catalogue or presented in our other notices, and agrees to comply with and be bound by such.
3. The auction will be conducted by offering in the terms by lot (Lot), either individually or ingroups. The Bidder offering the highest bid accepted by the Auctioneers shall be the purchaser (Purchaser) of the offered lot. Purchaser accepts a Lot when he or she makes a bid. All sales are final.
4. Bidder, whether acting as principal, agent, officer or director of a company or otherwise, in any capacity whatsoever, and the company he or she represents, both jointly and severally,agree:
(a) to indemnify and save harmless Auctioneers and its Consignors from any and all actions, causes of action, suits, damages, costs and losses of any nature, arising from the attendance or participation of Bidder, his or her agents or employees, at the auction sale and/or on the auction site whether before, during or after the auction sale; and
(b) to be responsible for the payment of the purchase price and taxes due on all Bidder's purchases.
(c) The Bidder agrees that the Auctioneer may require Photo ID to be presented matching the invoice name prior to releasing items.
5. Some items in the auction may be subject to a Reserve.
6. The Bidder grants to the Auctioneers a security interest in the Purchases, to secure payment of the purchase price. In the event of non-payment, the Auctioneers may proceed to file the Bidder Registration Agreement as a financing statement to perfect the security interest granted by this Security Agreement.
7. There shall be no guarantees or warranties, expressed or implied, statutory or otherwise of any nature whatsoever in respect of the Lots offered at the auction. Each and every lot will be sold "as is where is." Specifically, but without limitation, Auctioneers make no representation or warranty that any of the Lots:
(a) conform to any standard in respect of safety, pollution or hazardous material or to any standard or requirement of any applicable authority, law or regulation.
(b) are fit for any particular purpose.
(c) are merchantable or financeable.
(d) are of any particular age, year of manufacture, model, make or condition. Bidder agrees he or she has satisfied him or herself and is not relying on Auctioneers, norare Auctioneers liable for any matter in respect of the above? Bidder further agrees to repay, at his or her cost, any Lot purchased at the auction to a safe operating condition and, without limitation, to a condition that meets any standard or the requirement of any applicable authority, law or regulation, including those concerningany use to which the lot may be put.
8. Bidder acknowledges that an auction site is a potentially dangerous place. Flammable, noxious, corrosive, and pressurized substances are present, heavy equipment is being operated, and electricity may be live. Every person at the auction site, at any time, shall be there at his orher own risk with notice of the condition of the premises and the activities there on, and Bidder shall so advise his or her agents and employees. No person shall have any claim against Auctioneers, their agents and employees, or Principals for any injuries sustained, nor for damages to or loss of property which may occur from any cause whatsoever.
9. Auctioneers may, at any time, at their sole discretion and without notice or liability to Bidder:
(a) withdraw or cancel the sale of any Lot.
(b) offer any Lots in groups or with privilege.
10. Any dispute arising as to any bidding shall be settled by Auctioneers at their sole discretion,and Auctioneers may put the lot in dispute up for sale again. Auctioneers reserve the right to refuse any bid that they consider to be an insignificant advance over the preceding bid.
11. Purchases become the responsibility of and shall be at the risk of the purchaser uponacceptance of his or her bid. It shall be the responsibility of the purchaser to Insure his or her purchases immediately. Auctioneers shall not be responsible for loss or damage to any Purchase.
12. All payments must be made to Auctioneers by cash, Interac direct debit, bank draft or regular cheque accompanied by a bank letter of guarantee acceptable to Auctioneers. Lots under $10,000 must be paid in full on the day of the auction. For Lots over $10,000 Purchase price must be paid in full within two (2) business days of the auction.
13. Purchaser shall not be entitled to possession of any of his or her Purchases until the total purchase price of all his or her Purchases, including all applicable goods, sales or use taxes, has been fully paid. In the event, purchaser fails to comply with any Terms, Auctioneers, at their sole discretion, have the right to resell such Purchases by public or private sale without notice to Purchaser. Should Auctioneers resell any Purchase, the net proceeds therefrom (afterdeducting commissions of 14% of any costs) shall be credited to the original purchaser's account and the original purchaser shall forthwith upon demand pay Auctioneers, as damages,any deficiency arising from the resale.
14. All purchases must be removed from the auction site within the time announced or posted at the auction site, and all costs, responsibility and risk of such removal shall be borne by Purchaser. Purchaser shall use prudence in effecting such removal. Auctioneers reserve theright to require proof of adequate insurance coverage from any Purchaser for Purchases requiring dismantling, rigging or hot cutting. Purchaser agrees to indemnify and save harmless both Consignor and Auctioneers against any damage caused by the act of purchaser and/or his or her agents in connection with the dismantling or removal of any Purchase. If for any reason Purchaser fails to remove and store the said Purchase at Purchaser's sole risk and expense, Purchaser shall be liable for any rent incurred or damages suffered by Auctioneers because of Purchaser's failure to remove any Purchase.
15. The Listing Catalogue has been prepared as a guide only, based on information from sources believed to be reliable and from the Consignor; however, its accuracy cannot be guaranteed or warranted. No sale shall be invalidated, nor shall Auctioneers be liable as a result of defects or inaccuracies in the Listing Catalogue. Bidder acknowledges that all Lots were available for inspection prior to the auction and that it is his or her responsibility to inspect all equipment and to make his or her own inquiries prior to bidding.
16. If, for any reason, Auctioneers are unable to make available or deliver any purchase or clear title to same, or documentation required in respect of any Purchase, whether before or after deliver, the Auctioneers sole liability, if any, shall be the return of monies paid in respect of such purchase upon its return by purchaser. Any such Purchase shall be returned or surrendered upon demand by Auctioneers.
17. Interest on overdue amounts will be paid by purchaser at a rate of 18% per annum or at such other maximum rate as allowed by law, together with any legal or collection costs incurred by Auctioneers.
18. Upon Purchasers arranging for and assuming all risk and costs associated therewith to Auctioneers' satisfaction, Auctioneers will ship Purchases to, and give physical possession at a destination specified by purchaser.
19. These are the complete Terms and may not be amended except by agreement in writing signed by the Auctioneers and the respective Purchaser.
20. All Bidders are subject to pay a Buyer's Premium as follows:
(a) 12% for our regular Miscellaneous Auctions
(b) 12% on the first $5000 and 2.5% on balance to a maximum of $1100, per item, for our Heavy Equipment and Industrial Sales;
(c) Vehicle Buyer's Fee Schedule per vehicle:
(i) Purchase Price between $0 - 999 is a $150 fee;
(ii) Purchase Price between $1000 - 1999 is a $200 fee;
(iii) Purchase Price between $2000 - 2999 is a $250 fee;
(iv) Purchase Price between $3000 - 3999 is a $300 fee;
(v) Purchase Price between $4000 - 4999 is a $400 fee;
(vi) Purchase Price between $5000 and over is a $500 fee;
