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.
A buyer’s fee is an amount charged by the auctioning dealer (RM Auctions, Ltd., or other affiliated company “RMA”) 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. Buyer’s premium is 12% + VAT on all motor car lots, 17% + VAT on all other lots.
Payment is due in full on or before 5:00pm of the next business day following the auction. All payments must be in the form of wire transfers unless other arrangements have been approved in advance with RM Auctions Finance Department. Should a bidder default on payment in any manner whatsoever, without limiting any recourse RMA may have, bidder agrees to pay RMA 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 RMA 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 RMA’s costs of collection, including attorneys’ fees and costs.
All sales are “as is” and “where is”. Bidder is responsible for inspections and verification of condition, authenticity, and completeness of any vehicle purchased. No warranties or representations of any type whatsoever are made by RM Auctions, Ltd. Statements printed in catalogues, brochures, signs, window cards, and verbal statements made by auctioneers or auction staff are representations made by the Consignor and RMA has no obligation to verify or authenticate any such claims or representations. Any announcements made at time of sale supersede any earlier printed information. Except as herein provided, all vehicles are sold as is, where is, with no representations or warranties, expressed or implied CONSIGNOR AND RM AUCTIONS, LTD. 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 ORCOMPONENT OF ANY VEHICLE, AND SPECIFICALLY DISCLAIM ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE.
Bidder is responsible for 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.
Following the auction, lots in free circulation within the EU will remain at the auction site until 5:00pm on 7th February 2014. Clients are given until this time to collect their cars, assuming that full payment has been received by RM Auctions. Any lots not collected by this date will be removed from the auction site at a cost of 400€ + VAT to the buyer per lot and stored at a location operated by CARS. Day to day storage fees will be charged at 25€ + VAT per day per lot until payment has been received in full by RM Auctions and shipping arrangements have been made. Any lots not collected by 28th February will be taken into a long term storage facility and further charges will apply.
Lots subject to temporary import restrictions will be removed immediately following the auction and taken to a bonded storage facility until the completion of customs procedures and until payment has been received in full by RM Auctions. The fee for this removal is compulsory and established at 400€ + VAT per lot. Storage will be charged at 190€ + VAT per week.
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.
Any and all terms of sale posted on the auction premises, printed in sale brochures or forms, posted on our website (www.rmauctions.com), 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 RMA as all bids made with this bidder number will be your responsibility.
