Terms of Sale: ALL BIDS ARE FINAL AT AUCTION. At auction there is no “cooling off period”. If you are awarded the final bid, ownership changes hands at the drop of the gavel. You own the merchandise and are responsible for payment in full. No bidder may retract a bid made during the sale for any reason.
Buyer’s Fee
A buyer’s fee is an amount charged by the auctioning dealer (Auctions America by RM, Inc., or other affiliated company “AA”) for conducting the auction sale. If your bid price is accepted as the winning bid on any lot, you will be charged a buyer’s fee in addition to the accepted bid price. The buyer’s fee is part of the purchase price and is subject to sales tax, if applicable. Any terms and conditions posted at the auction premises, or posted on our web site (www.auctionsamerica.com), are incorporated herein by reference. Buyer’s premium is 15% on all lots.
Terms of Payment
Payment of 10% of the purchase price is due immediately upon the auctioneer’s declaration of sale. The balance is due in full on or before 3:00 pm on the first business day following the auction. All payments must be in the form of cash or certified funds unless other arrangements have been approved in advance. Cash payments will be reported according to U.S. Federal government requirements. Should a bidder default on payment in any manner whatsoever, without limiting any recourse AA may have, bidder agrees to pay AA all lost auction fees (which is the maximum published rates for (1) the seller’s commission, (2) the buyer’s premium, and (3) the entry), this amount is due and payable without relief. Bidder will also be liable to seller for its damages. Bidder hereby authorizes AA to deduct these lost auction fees from bidder’s cash deposit, or to charge this amount to bidder’s credit card provided. Bidder agrees not to dispute this charge with the credit card company at any time. Bidder agrees to also pay AA’s costs of collection, including attorneys’ fees and costs.
Conditions of Sale
Information contained in the Auctions America auction catalogs and brochures are based on either detailed reports prepared by independent experts or based on information provided by the consignor to the best of their knowledge. Neither Consignor nor Auctions America warrants or represents that the information contained therein is accurate and therefore the Bidder acknowledges that he or she accepts that the information contained in the catalog is a statement of opinion and not a statement of fact and is satisfied with, and assumes full responsibility for the accuracy and content of the catalog and brochure descriptions. All vehicles are sold as is, where is, with no representations or warranties, expressed or implied. CONSIGNOR AND AUCTIONS AMERICA BY RM, INC. DISCLAIM ALL WARRANTIES, EXPRESSED OR IMPLIED AS TO CONDITION, ORIGINALITY, OR AUTHENTICITY, ORIGIN OR PROVENANCE, PREVIOUS USE OR OWNERSHIP, MANUFACTURING OR RESTORATION PROCESSES, YEAR OR AGE, SERIAL NUMBER, MAKE, MODEL, OPTIONS, TOOLS, OR MILEAGE OF ANY VEHICLE OR COMPONENT OF ANY VEHICLE, AND SPECIFICALLY DISCLAIM ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE.
Risk or Loss
Bidder is responsible of all risk of loss or damage immediately upon purchase of the vehicle or item, which occurs at the time of sale when bidder is declared by the auctioneer to have the successful bid. All vehicles or items purchased must be removed from the auction site at the bidder’s expense immediately following the sale. If not removed by the end of the day following the sale, AA will remove the vehicle or item with all costs of moving and storage to be paid by the bidder.
Other Terms
Vehicles not marked as “no reserve” (or similar) are subject to a reserve bid set by the Consignor. When a vehicle is sold subject to such a reserve bid the auctioneer may bid on the Consignor’s behalf in an amount not to exceed the amount of the reserve bid. Bidder is responsible to pay all city, state or other taxes due for which the buyer does not qualify as exempt. Proof of exemption is bidder’s responsibility. All terms of sale posted on the auction premises, printed in sale brochures or forms, publicly announced, or otherwise published are incorporated herein by reference. In the event either party brings action against the other arising from or relating to this bid card or any auction held in connection with, the prevailing party, as determined by the court, shall be entitled to recover its reasonable attorneys’ fees and costs. The law of the state in which the auction is held shall govern the provisions of this bid card. Jurisdiction for any action brought shall lie exclusively in a court of competent jurisdiction in the judicial district in which the auction is located. You are responsible for all bids made with this bidder number, whether or not made by you and whether or not authorized by you. If your bidder card is lost or stolen, immediately report to AA as all bids made with this bidder number will be your responsibility.
Notice re "Demilitarized" items
By the use of the term Demilitarized, we mean that the item has been modified to restrict the ability of the item to be fired with live ammunition. This definition may be different from the definition utilized by the NFA Branch of the ATF. Each buyer is responsible for making their own inspection of the lot, and for obtaining all necessary permits and/or tax stamps from the ATF through their local Federal Firearms Dealer before the lot will be released by the Museum. We have disclosed the list of items in this Auction to the ATF, and we anticipate that many or all of the firearms will require at a minimum an ATF Form 5 (NFA tax free transfer of an inoperable firearm) before the item may be transferred. In the event that the ATF concludes that an item is not rendered inoperable a Form 4 (NFA $200 Tax) may be required. And, in the event that the ATF declines to issue a transfer for any item after proper application by Buyer, Buyer's sole remedy shall be return of the actual amount paid for the lot. We are not able to predict how the ATF will treat some of the items in this sale, and all bids are expressly made upon the understanding that we cannot guaranty that the ATF will approve the transfer, or whether the ATF may attach specific restriction on how the items may be utilized (i.e. static display). Exports of any item which is on the United States Munitions list will require an approved Export License (DSP-5) issued by the United States Department of State. All State, Federal and Local Laws apply to the sale of these items and we make no representations as to the transferability of any of these lots to any specific person or entity.
