Terms & Conditions for Personal Property Auction

ATTENTION! By registering for this Auction, you are agreeing to the Terms & Conditions for this Auction.

SETTLEMENT: The United States and State Laws for failure to pay shall apply. The Buyer agrees to make agreed settlement on sale day during or immediately after the Auction in U.S. currency, wire transfer, bank-certified U.S. funds, or company check with Bank Letter of Authorization. The online Bidder agrees to make settlement on sale day immediately following the Auction via wire transfer or credit card. All credit & debit card payments will have a 3% convenience fee added.

Here’s how your Bank Letter of Authorization letter should read: (Customer Name) is a customer of this bank. This bank guarantees for a period of ten banking days from (sale date) unconditional payment of their company check made payable to Stone Auctioneers & Appraisers in the amount of $_____.

In default of payment and or property not removed within the specified time, the Auctioneer, in addition to all other remedies allowed by law, will retain all monies received and resell the property at public sale without further notice. Any deficiency, including expenses of resale, will be charged to the defaulting Bidder.

BUYER’S PREMIUMS: A 12% buyer's premium will apply onsite and a 15% buyer’s premium will apply online. These premiums will be added to every purchase to make up the sale total.

INTERNATIONAL BUYERS: In order to ship abroad the machinery purchased at a Stone Auctioneers' Auction, you must provide a copy of your contract for services agreement or power of attorney with a Freight Forwarder that is capable of meeting all export licensing requirements. Stone Auctioneers will not act as shipper / exporter (PPIN) under any circumstances.

REGISTRATION: Buyers represent and warrant that this registration is made for the Buyer alone and not on behalf of any other person. The Auctioneer reserves the right to revoke any bidder card and eject any person at any time.

INSPECTION: The Buyer agrees to physically inspect the property prior to Auction and to rely exclusively upon this inspection in order to bid or purchase at the sale.

HOURS ON MACHINES: In some cases machine hours have been listed for the Buyer's convenience. These are the hours currently showing on the machines. However, no representation or guarantee of accuracy is made whatsoever by the Auctioneer. Buyer should rely on their own inspection and verification.

MEMORANDA OF SALE: The record of sale kept by the Auctioneer or bookkeeper must be taken by the Bidder or Buyer as absolute and final in all disputes.

NO WARRANTIES: All property is sold “AS-IS, WHERE-IS” with all faults. There are no warranties, representations or guarantees as to quality, character or condition of the property. The implied warranty of merchantability is expressly disclaimed. Auction Buyers shall not be entitled to any adjustments or allowance, rescission, damages or any remedy or claim as to quality, character or condition of any property purchased.

ACCESSORIES: All tooling and accessories will be sold separately from the equipment unless otherwise stated by the Auctioneer.

RISK OF LOSS: The Auctioneer and Seller are not responsible for any lost, damaged or stolen property, of any kind, regardless of circumstance. The Buyer assumes delivery, full responsibility and accepts all risk of loss for any property purchased from the time the Auctioneer accepts the Buyer’s bid regardless of the checkout or closing process.

THEFT: The theft of any property should be reported to the local police. It is the right of all Auction Buyers to prosecute anyone caught stealing to the fullest extent of the law.

CHECK OUT & REMOVAL: The Buyer has no right of abandonment whatsoever. The Buyer agrees to remove all purchased property from the Auction site within the specified time announced or posted in the Auction catalog. Property not removed within the time specified will be resold or disposed of by the Auctioneer or Seller without additional notice and in addition to all other remedies allowed by law, the Auctioneer will retain all monies received and add any deficiency or expense associated with resale or disposal of the property to the defaulting Buyer. Riggers, movers, electricians or anyone working as such must provide the Auctioneer with Proof of Insurance. The coverage must be at a level acceptable to the Auctioneer. All removal expenses and the repair of damages caused by removal are at the risk and expense of the Buyer and or their Agent unless otherwise stated on the Auction invoice.

AUCTION SITE: Buyer acknowledges that the Auction site is a potentially dangerous place. Every person attending the Auction sale at all times shall be there at their own risk, with notice of the conditions at the premises, the activities on the premises, and the conduct of third parties now given. Buyers shall so advise their Agents and employees. The Buyer agrees to indemnify and hold the Auctioneer and Seller harmless from any claims or damages. No person shall have any claim against the Seller, Auctioneer, his Agents, employees or Principals regardless of personal injury, loss of life or damages to or loss of property. Buyer also acknowledges responsibility for his actions and conduct and the action and conduct of their Agents and employees throughout the sale and checkout process.

DISPUTES: Any disputes that arise during the course of the sale or pay period shall be decided by the Auctioneer. The decision of the Auctioneer shall be final and absolute.

COMPETITIVE BIDS: All offerings whether real or personal property are subject to competitive bids. In the event an offering does not have the benefit of competitive Bidders, the item may, at the Auctioneer's discretion, be withdrawn from Auction.

VEHICLE TITLES: All titles are guaranteed within 15 banking days.

CONSIGNMENTS: Auctioneer hereby gives notice to Bidders that some items being sold may be consigned by third parties.

ADDITIONAL: Announcements made by the Auctioneer prior to the sale shall become a part of this Agreement. Although all information has been obtained from sources believed reliable, the Auctioneer and Seller make no guarantee whatsoever to the accuracy of any printed materials. The Auctioneer reserves the right to withdraw items, alter the sale order, accept bids from the Seller and group lots as he deems appropriate. Absentee Bids will be bid proxy from the Auctioneer and staff. The Bidders and/or Buyers will not hold the Auctioneer liable for the Seller’s misconduct or negligence in regards to matters of title or failing to close on a sale or failing to disclose defects of any kind including that of hazardous waste.

RESERVATION OF SERVICE: The Auctioneer(s) reserves the right on behalf of the Seller to refuse service or admittance to anyone whether notice is given verbally or written.

DEPOSITS: Deposits will apply as posted for the Auction. The online deposit will be $500.00 and will be applied toward your purchase or will be fully refundable if no purchase is made.

SALES TAX: Sales Tax will apply to every purchase. If you are sales tax exempt, you must provide a copy of your sales tax exempt documentation for our files in order to have the sales tax removed from your invoice.