1. 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.
2. Payment is due in full on or before 5:00 p.m. of the next business day following the auction, and payment is to be made to RMA (“payment deadline”). 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. The title in a purchased lot will not pass until RMA has received the full purchase price in cleared funds. RMA is not obligated to release a lot to the purchaser until the title to the lot has passed, and any earlier release does not affect the passing of the title or the winning bidder’s unconditional obligation to pay the full purchase price (the purchase price is comprised of the winning bid, the buyer’s fee, and other approved costs). In the event that the winning bidder does not pay any portion of the purchase price by the payment deadline, the bidder agrees to and acknowledges the following: If RMA elects to pay the consignor any portion of the sale proceeds, RMA shall have all of the rights of the consignor to pursue the purchaser for any amounts paid to the consignor, whether at law, in equity, or under these Conditions of Business. The bidder hereby authorizes RMA to deduct the purchase price from the bidder’s cash deposit, or to charge this amount to the credit card that the bidder has provided. If the bidder’s cash deposit and/or credit card payment does not cover the purchase price, in addition to other remedies available by law, RMA reserves the right to impose from the date of sale a late charge of 10 percent interest per annum on the (1) purchase price; (2) maximum published seller’s commission; (3) maximum published buyer’s fee; (4) expenses; (5) any collection costs, attorney fees, and court costs incurred to
enforce payment; and (6) other damages.
3. All sales are “as is” and “where is.” The 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 RMA, Inc. 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 the 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 RMA, 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, MILEAGE OF ANY VEHICLE OR COMPONENT OF ANY VEHICLE, AND SPECIFICALLY DISCLAIM ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE.
4. The bidder is responsible for all risk of loss or damage immediately upon purchase of the vehicle or item. All vehicles or items purchased must be removed from the auction site at the buyer’s expense immediately following the sale. If not removed by the end of the day following the sale, RMA, Inc. will remove the vehicle or item with all costs of moving and storage to be paid by the buyer.
5. Final bid price does not include buyer’s premium or applicable taxes on each lot purchased. The buyer is responsible to pay all city, state, or other taxes due for which the buyer does not qualify as exempt. Proof of
exemption is the buyer’s responsibility.
6. Buyer’s premiums are as follows. A ten percent (10%) commission will be added to the final bid of each motor car lot purchased. A fifteen percent (15%) commission will be added to the final bid of any other lot purchased.
7. 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.
8. 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.
9. Absentee and telephone bidding are services provided by RM Auctions for your benefit, and RMA cannot be held responsible for errors or omissions with respect to the bidding process, including failure to execute any bid. By submitting these bids, you have entered into a binding contract to purchase each lot if your bid is successful. If your bid is successful, you are to pay the purchase price, including the buyer’s premium and sales tax, if not otherwise exempt. It is your responsibility to provide proof of exemption from sales tax at the time of registering to bid. By participating in telephone bidding, you acknowledge RMA has the right to record all telephone calls.
10. Online Services are “as is” and “as available.” RMA offers bidders the option to bid online either in conjunction with a live physical auction or as part of an online auction. Bidders will be able to bid via websites, telephone services, applications, and tools (collectively “Services”). RMA tries to keep the Services safe, secure, and functioning properly, but RMA cannot guarantee the continuous operation of or access to the Services. Bid update and other notification functionality may not occur in real time. Such functionality is subject to delays beyond RMA’s control. Bidders agree that they are making use of the Services at their own risk, and that they are being provided to bidders on an “AS IS” and “AS AVAILABLE” basis. Accordingly, to the extent permitted by applicable law, RMA excludes all express or implied warranties, terms, and conditions including, but not limited to, implied
warranties of merchantability, fitness for a particular purpose, and non-infringement. In addition, to the extent permitted by applicable law, RMA (including any parent, subsidiaries, affiliates, officers, directors, agents, and employees) are not liable, and bidders agree not to hold RMA responsible, for any damages or losses (including, but not limited to, loss of money, goodwill or reputation, profits, or other intangible losses or any special, indirect, or consequential damages) resulting directly or indirectly from:
• The inability to use RMA’s Services;
• Pricing, shipping, or other guidance provided by RMA;
• Delays or disruptions in RMA’s Services;
• Viruses or other malicious software obtained by accessing, or linking to, the Services;
• Glitches, bugs, errors, or inaccuracies of any kind in the Services;
• Damage to any hardware device from the use of any RMA Service;
• The content, actions, or inactions of third parties, including items listed using RMA’s Services or the destruction of allegedly fake items;
• The duration or manner in which the listings appear in search results; or
• The need to modify practices, content, or behavior or the loss of or inability to do business, as a result of changes to this User Agreement or RMA policies.
11. Any and all terms of sale posted on the auction premises, printed in sale brochures or forms, described in this catalogue, publicly announced, or otherwise published are incorporated herein by reference. It is the bidder’s responsibility to familiarize themselves with these terms.
12. You are responsible for all bids made with your assigned 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 it to RMA, as all bids made with your bidder number will be your responsibility.
13. RMA may, at RMA’s sole discretion and without any obligation to do so, rescind a bid on or sale of a vehicle if RMA believes the bid or sale could subject RMA to liability. RMA is not responsible for any damages or losses that are claimed to have resulted from the rescission of the bid or sale.
