TERMS OF SALE
12% Buyers Premium will be in effect for this sale.
NOTICE: ALL BIDDERS AND OTHER PERSONS BIDDING AT THIS SALE AGREE THAT THEY HAVE READ THESE TERMS AND AGREE TO BE BOUND THEREBY.
1. A Cash Deposit may be required to register if stated or may be required to continue bidding after a monetary threshold has been reached. Failure to make a required deposit may result in suspension of bidding privileges.
2. All checks for deposits and balances due shall be payable to the order of INDUSTRIAL MACHINERY AUCTIONEERS, or representatives of the auctioneer at the plant unless otherwise announced. The full purchase price on all lots sold to the same buyer must be paid within the time fixed and before removal of any of the goods. Industrial Machinery Auctioneers accepts the following methods of payment: cash, cashier’s check, money orders or wire transfers. Personal and Business Check are accepted, however Industrial Machinery Auctioneers reserves the right to require a bank Letter of Guarantee, Guaranteeing Payment in Full, without condition upon Demand.
3. The auctioneer shall not be responsible for the description or defect in any lot, and make no warranty in connection therewith. No sale shall be set aside nor allowance made on damaged articles, all goods being exposed for public exhibition and sold “as is”.
4. Auctioneer shall not be liable for non-delivery to any purchaser of any lot, other than for the return to the purchaser of the deposit or sums paid on said lot.
5. In the default of payment of bills in full within the time therein specified, the auctioneer, in addition to all other remedies allowed by law, may retain all monies received as deposit or otherwise, as liquidated damages. Lots not paid for and removed within the time allowed herein may be resold at public or private sale without further notice, and any deficiency, together with all expenses and charges of re-sale, will be charged to the defaulting purchaser.
6. Persons attending during exhibition, sale or removal of goods assume all risks of damage of or loss to person and property and specifically release the auctioneer and/or his principal and shall not be held liable by reason of any defect in or condition of the premises on which the sale is held.
7. The auctioneer reserves the right to withdraw from sale of any of the property listed or to sell at this sale property not listed, and also reserves the right to group one or more lots into one or more selling lots or to subdivide into two or more selling lots. Whenever the best interest of the seller will be served, the auctioneer reserves the right to sell all the property listed, in bulk.
8. Count or Measure Where items sold by estimated weight, count or measure, the purchaser will be billed for and required to pay for the estimated weight, count or measure. If, upon delivery, any shortage exists, the purchaser will receive a refund at the rate of purchase. If there be an excess, the purchaser will be required to take and pay for such excess, at the rate of purchase.
9. If any dispute arises between two or more bidders, the auctioneer may decide the same or put the lot up for sale again at once, and resell it to the highest bidder. The auctioneer decision shall be final and absolute.
10. The auctioneer may add other terms and conditions of sale, such additional terms and condition to be announced prior to the auction.
11. The auctioneer is acting as agent only and is not responsible for the acts of its principals.
NOTICE: No lot can, on any account, be removed during the sale. Removal shall be at expense, risk and liability of purchaser. Purchases will be delivered only on presentation of paid bill. Auctioneer shall not be responsible for goods not removed within the time allowed, but shall have the option to remove and store at the expense and risk of the purchaser any article purchased, but not paid for and removed within the time aforesaid.
INDUSTRIAL MACHINERY AUCTIONEERS, 5450 South Magellan Drive • New Berlin, WI 53151