Vintage Advertising & General Store Auction

1. DEFINITIONS
"Auction House": Refers to Pink Hill Auction Company, LLC.
"Bidder": Any individual or entity that registers or places a bid in an auction.
"Buyer's Premium": An additional percentage charge added to the Hammer Price.
"Hammer Price": The highest bid acknowledged and accepted by the auctioneer at the fall of the hammer.
"Lot": Any individual item or group of items offered for sale as a single unit.
"Property": The items offered for sale by the Auction House.
"Purchase Price": The sum of the Hammer Price, the Buyer's Premium, and all applicable taxes.

2. AS-IS STATUS & COMPREHENSIVE DISCLAIMERS
Strict "As-Is" Sale: All property is sold in "as is" condition and without recourse.
No Warranties: Neither the Auction House nor the consignor makes any representations or warranties, express or implied, regarding catalogue description, attribution, authenticity, provenance, origin, size, age, or condition.
Disclaimer of Fitness: The Auction House explicitly disclaims all warranties, including but not limited to any warranty of title, merchantability, or fitness for a particular purpose.
Opinions Only: Statements in the catalog or condition reports are qualified statements of opinion only and do not constitute a guarantee. The absence of a condition report does not imply an item is in perfect condition or any other state of condition.
Inspection Responsibility: It is the purchaser's sole responsibility to examine the property prior to the auction. By placing a bid, the purchaser signifies they have examined the item as fully as they desire.

3. AUCTIONEER AUTHORITY & BIDDING CONTROL
Rejection & Withdrawal: The Auction House reserves the absolute right to reject any bid from any party, including those who have not established prior credit. The Auction House may withdraw, combine, or divide any lot at its sole discretion before bidding begins.
Dispute Resolution: The auctioneer has sole discretion to determine the highest bidder, re-offer any lot in dispute, and advance the bid. In all cases, the Auction House's bid record is accepted as conclusive.
Passing of Title: Title and full risk of loss pass to the highest bidder at the fall of the auctioneer's hammer. The bidder immediately assumes all responsibility for the property.
Seller?s Right to Bid: Pursuant to Tex. Bus. & Com. Code ? 2.328, notice is hereby given that for any Lot subject to a reserve, the Auctioneer reserves the right to bid on behalf of the Seller/Consignor. Such bidding shall be used solely to protect the confidential reserve price and may be performed by the Auctioneer placing bids in response to other bidders until the reserve is met.

4. FINANCIAL OBLIGATIONS & PAYMENT
Buyer's Premium: A 20% buyer?s premium is added to the hammer price for all items.
Payment Deadline: Full payment, including premium and applicable taxes, is due within 7 days from the sale date.
Bidder Data & Credit: All bidders must provide their name, residence, business address, telephone number, driver's license, and credit card. The Auction House reserves the right to run stored credit card details to obtain storage fees or any outstanding balances.
Precious Metals Protocol: Invoices containing gold, silver, or diamonds must be paid via cash in person, bank wire transfer, or in-person credit card with photo ID.
Tax Compliance: Texas residents are charged local sales tax unless a valid Texas Resale Certificate is provided prior to bidding.

5. STORAGE, REMOVAL, AND RISK
Removal Timeline: Items must be removed within 15 days of the sale unless prior arrangements exist.
Daily Storage Fees: Items not removed within 7 days will incur a storage fee of $5.00 per day for large items (over 6ft x 6ft) or $10.00 per day for standard items.
Abandonment Policy: Items not removed after 60 days may be resold by the Auction House without notice to cover storage costs.
Risk & Insurance: Sold items are not covered by Auction House insurance and are stored solely at the buyer's risk. A notice of 24 hours must be given before items are picked up.

6. NON-PAYMENT, BREACH, & CONSIGNOR OFFSET
Binding Contract: Under Texas law, a winning bid is a legally binding purchase contract.Consignor Offset & Resale: In the event of non-payment, the Auction House may arrange a resale of the item by auction or private sale. Proceeds will be applied to offset the amount owed to the consignor, storage charges, commissions, and other outstanding costs.
Default Remedies: The Auction House reserves the right to:
Cancel the sale and retain all payments as liquidated damages.
Assess a 5% annual interest rate on outstanding balances.
Charge a $150 administrative fee per defaulting bidder.
Offset debts against any funds or items the bidder has with the Auction House.

Buyer Liability & Deficiency: The original defaulting buyer remains legally liable for any deficiency (the difference between their original bid and a lower resale price), plus all costs of the second sale (Buyer's Premium, and reasonable legal fees).
Legal Costs: The bidder is liable for all attorney fees, collection agency costs, and court fees incurred during enforcement.

7. CHOICE OF LAW & VENUE
Governing Law: These terms and conditions shall be governed by the laws of the State of Texas.
Jurisdiction: All legal actions must be brought in the local courts of the Auction House's primary place of business in Texas.

8. PAYMENT
Payment is due within 7 days after the invoice is sent. We accept Credit/Debit Card, PayPal, Check/Money Order, Wire Transfer, and Cash (for local pickup only). Invoices are sent automatically after the auction ends. All sales are final and payment is expected within 7 days of invoice being sent unless alternate arrangements have been discussed and agreed upon prior to bidding.
Please contact us before placing a bid if you have any questions regarding payment.
903-213-3693
info@pinkhillauctions.com