Palm Beach - No Reserve Summer Auction

MARKET AUCTIONS, INC.
TERMS AND CONDITIONS


1. GENERAL TERMS AND CONDITIONS
(a) All sales at Market Auctions, Inc. ("Market Auctions"), by any means, including but not limited
to auctions, online, in person or by representative, are governed by and are subject to the
following terms and conditions. By using this site and/or participating in any Market Auctions
sales you agree to be subject to such terms and conditions and acknowledgment that you
have read and understood same or have consulted with counsel of your choice to explain
same. These terms and conditions are subject to amendment and/or modification at the time
of sale by notices posted in the sales room, printed amendments or announcements by the
auctioneer and participant agrees to be bound by same.
(b) The items offered by Market Auctions may be owned directly by Market Auctions, or Market
Auctions may be acting as agent for the owner through consignment or otherwise.
(c) EACH ITEM OFFERED FOR SALE AND SOLD BY MARKET AUCTIONS IS SOLD ?AS-IS" AND
?WHERE-IS," WITHOUT ANY REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED,
INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF FITNESS FOR ANY
PARTICULAR PURPOSE OR MERCHANTABILITY OR ANY OTHER WARRANTIES CONTAINED IN
OR CREATED BY THE UNIFORM COMMERCIAL CODE OR OTHERWISE. BUYERS
ACKNOWLEDGE THAT NEITHER MARKET AUCTIONS. NOR ANY OF ITS AGENTS HAVE MADE
ANY REPRESENTATIONS, WARRANTIES, COVENANTS, AGREEMENTS OR GUARANTIES OF
ANY KIND OR CHARACTER, WHETHER EXPRESS OR IMPLIED, ORAL OR WRITTEN,
CONCERNING (i) THE VALUE, NATURE, QUALITY OR CONDITION OF THE ITEMS PURCHASED
FROM MARKET AUCTIONS, (ii) THE SUITABILITY OF THE ITEMS PURCHASED FROM MARKET
AUCTIONS FOR ANY INTENDED USES, (iii) THE COMPLIANCE OF THE ITEMS PURCHASED
FROM MARKET AUCTIONS WITH ANY LAWS, RULES, ORDINANCES OR REGULATIONS OF
ANY APPLICABLE GOVERNMENTAL AUTHORITY, (iv) THE MERCHANTABILITY,
MARKETABILITY, PROFITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF THE ITEMS
PURCHASED FROM MARKET AUCTIONS, OR (v) ANY OTHER MATTER WITH RESPECT TO THE
ITEMS PURCHASED FROM MARKET AUCTIONS. BUYERS SHALL RELY SOLELY ON BUYERS?
OWN INVESTIGATION OF THE ITEMS PURCHASED FROM MARKET AUCTIONS AND NOT ON
ANY INFORMATION PROVIDED OR TO BE PROVIDED BY MARKET AUCTIONS OR ITS AGENTS,
EXCEPT AS SPECIFICALLY AND EXPRESSLY SET FORTH IN THESE TERMS AND CONDITIONS.
MARKET AUCTIONS SHALL NOT BE LIABLE IN ANY MANNER BY ANY VERBAL OR WRITTEN
STATEMENTS, REPRESENTATIONS OR INFORMATION PERTAINING TO THE ITEMS
PURCHASED FROM MARKET AUCTIONS FURNISHED BY ANY PARTY PURPORTING TO ACT
ON BEHALF OF MARKET AUCTIONS.
(d) Every item offered for sale at Market Auctions is available for buyer inspection prior to the
auction. BUYERS ARE STRONGLY ENCOURAGED TO MAKE AN INDEPENDENT EVALUATION
OF ALL ITEMS OF INTEREST PRIOR TO AUCTION.
(e) All representations as to condition of items are subjective and buyers must rely on their own
inspection to determine condition or fault. Market Auctions condition reports are to aid buyer
and are not exhaustive or definitive. bidders should note that item may have faults that are
not expressly referred to in the catalog or condition report. Items used in photographs for
display and/or containing items such as crates, totes, step blocks, back drops, etc. are not
included in the sale of the item unless specifically listed in the description. Item photographs
and/or illustrations may be representative only and may not accurately represent the item
being offered for sale, including, without limitation, color, texture, and size. Sizes and
dimensions are approximate. Furthermore, the materials appearing on Market Auctions
website could include technical, typographical, or photographic errors. Market Auctions
does not warrant that any of the materials on its website are accurate, complete or current.
Market Auctions may make changes to the materials contained on its website at any time
without notice. However, Market Auctions does not make any commitment to update the
materials. ACCORDINGLY, BUYER?S INSPECTION OF THE ITEM OFFERED FOR SALE
PRIOR TO AUCTION IS HIGHLY RECOMMENDED.
(f) Information provided to prospective buyers in respect of any item, including any pre-sale
estimate, whether written or oral, and information contained in any catalog, condition or
other report, commentary or valuation, may not be taken as of fact but are a statement of
opinion held by Market Auctions. Any pre-sale estimate may not be relied on as a prediction
of the selling price or value of the item and are subject to revision by Market Auctions, in our
absolute discretion, when we deem doing same appropriate. Market Auctions, its affiliates or
agents assume no liability for any difference between the pre-sale estimates for any item and
the actual price achieved at auction or other sale.
2. BIDDING PROCEEDURE
(a) Market Auctions reserves the right to add or remove items from the auction; split or combine
lots; add minimum bids or reserve prices. Market Auctions reserves the right to cancel,
suspend, extend or reschedule an individual item and/or auction event or to make changes
to the auction closing times, inspections or removal times.
(b) Market Auctions retains the right to determine a buyer?s eligibility to participate in any sale.
All potential bidders must complete all forms and information requests required by Market
Auctions to qualify.
(c) Bidders not are unable to personally attend any auction may submit written bids to be
entered by Market Auction on their behalf. All such bids must be submitted on the approved
bid form in U.S. Currency and are subject to all, taxes, commissions and other normal and
customary fees and charges.
(d) All telephone bidders are required to submit telephone bid application form. Market Auctions
accepts Telephone bidding on all items. A telephone Bidder consents to all telephone bidding
being recorded and such recording being recognized as the legal equivalent of a written bid
and if the winning bid a valid purchase contract.
(e) Online bidding is available through Market Auctions online live bidding platform on our
website at www.MarketAuctions.com. Online bidders must register online before the start of
the auction and be deemed qualified. A bidder submits a bid by clicking the bid button on the
computer screen, all bids submitted are final and may not be canceled. Please be aware
items being auctioned by or through Market Auctions are also being auctioned through
different auction platforms at the same time. Accordingly, please note, no online bids are
displayed on the online bidder?s computer screen as ?floor bid", ?phone bid"or ?paddle bids"
but will be displayed as ?competing bid" during the auction. In the unlikely event that there
is more than one winning bidder at the end of an auction as a result of an item being
auctioned on different auction platforms, the bidder with the highest bid amount will be the
winning bidder and if the bid amounts are the same, then the first bidder to bid the winning
bid amount will be the winning bidder. Market Auctions reserves the right, in Market Auctions?
sole and absolute discretion, to determine the winning bidder. Market Auctions is not
responsible for internet nor platform outages during an online auction. In the event of a
platform outage at the close of an auction, Market Auctions reserves the right to no-sell the
item and offer the item for resale at a later date.
(f) All winning bidders, regardless of bidding method, are responsible for the full payment of the
purchase price and all applicable fees, commissions, taxes and other customary charges.
(g) All credit card payments are subject to a 3.5% service fee.
3. CONDUCT OF THE AUCTION
(a) The winning bidder will be announced by auctioneer striking the hammer, thereupon the
winning bidder is responsible for payment of the bid including, taxes, commissions and other
customary fees. The Risk and responsibility for the item passes to the buyer at the earlier of
pick up or 5 days after sale.
(b) Some items presented may have a reserve price, the auctioneer may personally bid or may
accept bids made by a company affiliated with Market Auctions to protect the reserve price.
4. PAYMENT AND PICK UP
(a) The buyer agrees to pay Market Auctions, in addition to final auction knock down price of the
item, a buyer?s premium and any applicable sales tax. The cumulative buyer?s premium is
30% up $100,000.00, 20% from $100,001.00 to $250,000.00, 15% from $250,001 to
$1,000,000.00 and 12 % from $1,000,001 and above. Unless the buyer has a valid US resale
tax certificate all applicable taxes are payable by buyer.
(b) Payment is due immediately following the auction in US funds by cash (under $10,000.00),
check drawn on a US bank or wire transfer. (A $35.00 fee shall be added to all payment via
wire transfer.) Checks to be made payable to Market Auctions, 500 N. Dixie Highway, Lake
Worth, Florida 33460, please indicate sale date and item number of payment. A $35.00 fee
will be added to all payment via wire transfer.
(c) Payment by wire transfer may be sent directly to Market Auctions. Bank transfer details:
First Horizon Bank
165 Madison Ave.
Memphis, TN 38103
SWIFT Code: FTBMUS44
ABA Routing: 084000026
Account no.: 220004984826
For the account of Market Auctions
Please reference the sale date and item number.
(d) Title in a purchased item does not pass until Market Auctions has received cleared funds. No
item will be released without cleared funds and proper identification.
(e) Upon receipt of cleared funds Market Auctions will release the item to buyer. All items are to
be collected from our sales center located at 500 N. Dixie Highway, Lake Worth, Florida
33460, during our regular business hours. At the earlier of buyer pick up or 5 days after sale
the risk of loss passes to the buyer.
(f) Market Auction provides a 15 day pick up window for buyer, unless special arrangements are
made buyer will be charged a reasonable storage fee after such 15 days. All items left in
excess of 60 days shall be considered abandoned, and become the property of Market
Auctions, with no refund or other obligation to the buyer.
5. PRIVACY POLICY
(a) Please see Market Auctions privacy available at www.MarketAuctions.com.
6. LIMITATION OF LIABILITY
(a) Market Auctions, our affiliated companies and the seller?s sole liability in any action regarding
the sale to the buyer shall be limited to the Purchase Price paid by the buyer for the Item.
(b) Neither Market Auctions nor any of our affiliated companies or the seller (i) is liable for any
errors or omissions, whether orally or in writing, in information provided to prospective buyers
by Market Auctions or any of our affiliated companies or (ii) accepts responsibility to any
bidder in respect of acts or omissions, whether negligent or otherwise, by Market Auctions or
any of our affiliated companies in connection with the conduct of the auction or for any other
matter relating to the sale of any item.
(c) All warranties whether express or implied, including any warranty of satisfactory quality and
fitness for purpose, are specifically excluded by Market Auctions our affiliated companies
and the seller to the fullest extent permitted by law.
(d) Neither Market Auctions nor any of our affiliated companies or the seller shall be liable to the
buyer for any loss or damage beyond the refund of the Purchase Price, whether such loss or
damage is characterized as direct, indirect, special, incidental or consequential, or for the
payment of interest on the Purchase Price to the fullest extent permitted by law.
7. COPYRIGHT
(a) Market Auctions retains the copyright to all images, illustrations and written materials
produced by or for Market Auctions relating to an item, including the contents of any catalog.
Such images and materials may not be used by the buyer or any other party without our prior
written consent. Market Auctions and the seller make no representations that the buyer of an
item will acquire any copyright or other reproduction rights in it.
8. ENTIRE AGREEMENT
(a) These Terms and Conditions, subject to amendment or modification as provided in Paragraph
1 above, set out the entire agreement between the parties with respect to the transactions
contemplated herein and supersede all prior and contemporaneous written, oral or implied
understandings, representations and agreements.
(b) All notices to Market Auctions shall be in writing and specify the auction date and item
number. All notices to buyer will be to address provided by buyer.
(c) The buyer?s successors, assigns and representatives are subject to these terms and
conditions to the same extent as the original buyer.
(d) Should any provision of these Terms and Conditions are held to be void, invalid or
unenforceable by any court, the remaining provisions shall remain in full force and effect. No
failure by Market Auctions to exercise, nor any delay in exercising, any right or remedy under
these Terms and conditions shall waive or release any part of same.
9. GOVERNING LAW, JURISDICTION AND VENUE
(a) The rights and obligations of the parties with respect to these Terms and Conditions, the
conduct of the auction and any matters related to any of the foregoing shall be governed by
and interpreted in accordance with laws of the State of Florida, excluding its conflicts of law
statutes.
(b) Market Auctions, and all bidders and all sellers agree to the exclusive jurisdiction of the (i)
state courts of the State of Florida located in Palm Beach County, Florida and (ii) the federal
courts for the Southern District of Florida to settle all disputes arising in connection with all
aspects of all matters or transactions to which these Terms and Conditions relate to or apply.
(c) All bidders and sellers irrevocably consent to service of process or any other documents in
connection with proceedings in any court by facsimile transmission, personal service,
delivery by mail or in any other manner permitted by Florida law or the law of the place of
service, at the last address of the bidder or seller known to Market Auctions.
(d) The prevailing party in any dispute, controversy, action, proceeding or matter in connection
with, arising from or in any related to these terms and conditions, the purchase and sale of
an item by or though Market Auctions, or any transaction by and between a buyer and Market
Auctions shall be entitled to recover reasonable attorney?s fees, costs, and expenses
incurred with respect to such dispute, controversy, action, proceeding or matter and in any
appellate proceedings relating thereto.
10. SALES TAX
(a) Unless the buyer has delivered a valid certificate evidencing exemption from tax, the buyer
shall pay applicable sales tax on any item picked up or delivered anywhere in the United
States where State law requires same.
(b) If the point of delivery or transfer of possession for any purchased item to the buyer or the
buyer?s designee occurs in Florida, then the sale is subject to Florida sales tax at the current
rate of 7%, which sales tax rate is subject to change from time to time under Florida law.