CONSIGNORS’ CONDITIONS OF BUSINESS
1. Introduction:
1.1. These Consignors’ Conditions of Business (“Conditions”) outline the contractual relationship and obligations between RMS (as defined on page 1 of the Auction Consignment Agreement) and the Consignor in relation to the auction of the Consignor’s Lot(s) in RMS’ Open Roads Online Only Auction.
1.2. Please ensure that you read and understand these Conditions prior to consigning a Lot(s).
1.3. RMS’ contractual relationship with the Consignor is governed by:
1.3.1. These Conditions; and
1.3.2. The Auction Consignment Agreement.
(clauses 1.3 to 1.3.2 together “Contractual Obligations”)
1.4. As auctioneer, RMS acts as agent for the Consignor, and if a Consignor’s Lot is sold at the Open Roads Online Only Auction, a sales contract is made directly between the Consignor and the Buyer.
2. Timing of the Consignor’s Lot(s) Being Offered in RMS’ Open Roads Online Only Auction:
2.1. RMS Open Roads Online Only Auctions are regularly scheduled end-of-month auctions utilizing the RMS Online Only Platform (“Open Roads Online Only Auction” or “Open Roads Online Only Auctions”).
2.2. Upon the Consignor fulfilling the obligations as outlined in the Contractual Obligations, RMS will evaluate marketing considerations and, enter the Consignor’s Lot(s) in the next available Open Roads Online Only Auction subject to RMS’ commercially reasonable discretion.
2.3. Lot(s) are expected to close approximately 1 week after the bidding opens to registered bidders.
3. RMS Receiving Lot(s) in Trust: Any consigned Lot(s) is delivered to RMS in trust under the exact terms set forth in these Conditions. RMS agrees to receive the Lot(s) in trust and agrees not to permit its use for any other purposes, other than those contained in these Conditions, without the express written consent of the Consignor.
4. Services: RMS agrees to act as an agent for the Consignor and to provide services of clerks, support staff, advertising, and promotion. In connection with the Open Roads Online Only Auction, RMS will have absolute discretion with regard to the Lot(s) as to (a) consulting any expert either before or after the Open Roads Online Only Auction, (b) researching the provenance, (c) grouping and providing descriptions as may be appropriate, (d) marketing and promotion of the Lot(s), and (e) any other services required to conduct the auction of the Lot(s).
5. Currency:
5.1. The currency used for the consignment of the Lot(s) will correspond with the current location of the Lot(s) as indicated in the Specific Information of the Auction Consignment Agreement.
5.1.1. If the Lot(s) is currently located in the Euro Zone, the currency for the consignment will be transacted in Euros (EUR).
5.1.2. If the Lot(s) is currently located in United Kingdom, the currency for the consignment will be transacted in British Pounds (GBP).
5.1.3. If the Lot(s) is currently located anywhere other than Europe or the United Kingdom, the currency for the consignment will be transacted in US Dollars (USD).
5.2. The selected currency as outlined in clause 5.1 cannot change from the location indicated in the Specific Information of the Auction Consignment Agreement unless explicitly agreed in writing by RMS.
5.3. RMS may display a currency conversion function on the Open Roads Online Only Auction platform; however, these are for informational purposes only and, the Consignor will only receive their Proceeds in the currency that has been designated for their Lot(s) to be sold.
5.4. Any and all Expenses and Fees (as outlined in clause 9 (Expenses and Fees)) that are the responsibility of the Consignor are listed in USD in the Auction Consignment Agreement and these Conditions unless otherwise noted. RMS will convert the set Expenses and Fees to the currency designated under clause 5.1 as of 9:00 AM Eastern Standard Time (EST) or Eastern Daylight Time (EDT) as applicable on the day that the Open Roads Online Only Auction closes in which the Lot(s) is offered.
6. Commissions:
6.1. If the Lot(s) is sold, the Consignor agrees to pay RMS a Sellers’ Commission as outlined in the either the Specific Information or the Specific Conditions of the Auction Consignment Agreement on the Hammer Price (the last accepted bid is the Hammer Price (“Hammer Price”)) of the Lot(s) (“Sellers’ Commission”).
6.2. Further, the Consignor acknowledges that RMS will collect a standard Buyers’ Premium from the Buyer of the Lot(s) in question, based on the Hammer Price on the Lot(s). Please note that the standard Buyers’ Premium may change from time to time at the discretion of RMS if the standard Buyers’ Premium for the Open Roads Online Only Auction changes. To be clear, the standard Buyers’ Premium will be published as part of Bidders’ Conditions of Business in advance of the Open Roads Online Only Auction. For purposes of clause 26 (Withdrawn Lot(s)) of these Conditions, the Buyer’s Premium shall be 15% for motor car lots and 20% for non-motor car lots on the Hammer Price if the applicable Buyer’s Premium has not yet been published in the Bidders’ Conditions of Business.
7. Inspection Report:
7.1. As part of the Open Roads Online Only Auction process for each Lot(s) consigned, an inspection report may be produced for each Lot(s). This inspection report may be authored by either (i) an RMS representative or RMS agent; OR (ii) at the consent of RMS, the Consignor or agent of the Consignor (“Inspection Report”).
7.1.1. If the inspection is performed by either the Consignor or its agent, the Inspection Report must clearly indicate who performed the inspection.
7.1.2. If the inspection is performed by either the Consignor or its agent, the Consignor will INDEMNIFY, DEFEND (WITH RMS’ SOLE CHOICE OF COUNSEL), AND HOLD RMS AND ITS AFFILIATES HARMLESS FROM ANY CLAIMS, DEMANDS, LOSSES, EXPENSES, DAMAGES, COSTS, ACTIONS, AND LIABILITIES, INCLUDING WITHOUT LIMITATION TO COURT COSTS AND ATTORNEYS’ FEES, OF WHATEVER KIND OR NATURE THAT MAY OR MAY NOT OCCUR, WHETHER KNOWN OR UNKNOWN, ON THE ACCOUNT OF, ARISING OUT OF, OR RELATED TO THE LOT(S), THE INSPECTION, THE INSPECTION REPORT, OR RMS’ OFFERING, AUCTION, OR SALE OF THE LOT(S).
7.2. If issues are found in the Inspection Report, RMS has the discretion to request that the Consignor repair or cure the issues and, if RMS does not believe the issues are cured or can be cured within a reasonable timeframe, RMS may cancel the consignment of the Lot(s) in accordance with clause 22 (Cancellation/Rescission of Lot(s)).
8. Marketing Fee: The marketing fee is non-refundable and is not credited toward the Sellers’ Commission.
9. Expenses and Fees: Expenses and fees as outlined in these Conditions include but are not limited to marketing fees, transportation fees, storage fees, Title Fees, and battery replacement fees (collectively “Expenses and Fees”). The Consignor agrees and acknowledges that the credit card provided in the Specific Information of the Auction Consignment Agreement will be charged for the applicable Expenses and Fees.
10. Proceeds to Consignor:
10.1. As used in these Conditions, a “Sale” occurs between the Consignor and the Buyer when the hammer or equivalent device or mechanism drops on the Hammer Price or when the time expires on a time-based online only auction or when the auctioneer awards the Lot(s) to the highest Bidder (“Sale”).
10.2. As an accommodation to the Consignor, RMS agrees to act as an intermediary between the Consignor and the Buyer for the Sale by accepting the purchase price from the Buyer, and transferring the amounts due to the Consignor under these Conditions (“Proceeds”). If the Lot(s) is sold by RMS during the term of these Conditions, RMS will make reasonable efforts to disburse the money due to the Consignor within 21 business days after the purchase price, applicable commissions, and Expenses and Fees have been received by RMS from the Buyer, in accordance with the terms of these Conditions and no claim or Dispute has been raised by the Buyer.
10.3. The Consignor authorizes RMS to release the Lot(s) to the successful Buyer upon RMS receiving full payment from the Buyer or financing terms are agreed to with RMS.
10.4. Before payment of any money due to the Consignor is to be made, the Consignor agrees to provide RMS with the documents necessary to transfer the Ownership of the Lot(s) to the Buyer. Thereafter, the Consignor agrees to provide any cooperation that RMS, in its sole discretion, deems necessary to transfer such Ownership, Title, or registration to the Buyer.
10.5. If RMS in its sole discretion has reason to believe or is notified of the (i) Consignor’s breach of the Contractual Obligations, (ii) alleged breach of the Contractual Obligations, (iii) Consignor’s actions could potentially cause RMS liability, and/or (iv) Buyer raises concerns regarding the Lot(s) originality, character, features, condition, correctness, authenticity, or history or description (collectively “Dispute”), RMS, at its sole discretion, may withhold payment to the Consignor until the Dispute has been resolved; further, RMS may deduct any sums that are due to it from the sum held.
11. Reserve:
11.1. The Reserve noted in the fillable section of the Auction Consignment Agreement is the lowest bid acceptable to the Consignor. If there is no Reserve, indicate clearly by writing “N/A”, “NONE”, or otherwise striking through in the space provided in the fillable section of the Auction Consignment Agreement.
11.2. The Reserve may be lowered at any time by the Consignor, either verbally or in writing, but it may not be raised.
11.3. If the Lot(s) are sold at the Reserve, the Consignor’s Proceeds are the Reserve less (i) applicable Expenses and Fees and (ii) applicable Sellers’ Commission as agreed to in the Auction Consignment Agreement.
11.4. RMS has the right to sell a Lot(s) at a price below the agreed verbal or written Reserve, provided that the Consignor receives the same net Proceeds under clause 11.3 as the Consignor would have received had the Reserve been met.
11.5. When a Lot(s) is sold subject to a Reserve, the auctioneer may bid on the Consignor’s behalf in an amount not to exceed the amount of the Reserve.
11.6. If RMS contributes to the Hammer Price to meet a Reserve, the Reserve for the respective Lot(s) becomes the Hammer Price plus RMS’ contribution for purposes of commissions.
12. Exclusivity:
12.1. The Consignor grants to RMS the exclusive right and authority to advertise and sell the Lot(s) for a period beginning with the date of these Conditions and ending 90 business days following the particular Open Roads Online Only Auction that the Lot(s) was offered in.
12.2. If the Consignor for whatever reason does not comply with the terms of the Contractual Obligations and, this frustrates RMS’ ability to offer the Lot(s) for Sale in an Open Roads Online Only Auction, RMS may withhold the Lot(s) from being offered (“Withhold”). If RMS is forced to Withhold the Lot(s) from the Open Roads Online Only Auction, then the exclusivity period continues until either (i) up to 90 business days after RMS is satisfied that the issues are resolved and RMS offers the Lot(s) for Sale in the next reasonable RMS Open Roads Online Only Auction OR (ii) RMS provides notice that the Consignor’s breach of these Conditions necessitate RMS to cancel as outlined in clause 22 (Cancellation/Rescission of Lot(s)).
12.3. If the Lot(s) is sold by the Consignor to another party during the exclusivity period of the Auction Consignment Agreement and, RMS has not agreed otherwise in writing, the Lot(s) will then be considered “withdrawn” from the Open Roads Online Only Auction by the Consignor, and the Consignor agrees to abide by clause 26 (Withdrawn Lot(s)), of these Conditions.
12.4. If the Lot(s) does not sell at the Open Roads Online Only Auction at which it was offered, the Consignor grants RMS the authority for up to 90 business days after the Open Roads Online Only Auction to (a) list the Lot(s) for Sale on RMS’ Private Sales website, (b) advertise, in other media at RMS’ discretion, the Lot(s) for Sale, and (c) if there was a Reserve agreed to between the parties, unilaterally sell the Lot(s) for an amount equal to or greater than the Reserve.
13. Title, Registration Documents, and/or Appropriate Documents Evidencing Chain of Ownership to Lot(s):
13.1. It is the absolute requirement of the Consignor that they provide any and all titles, registration documents, or appropriate documents evidencing the Consignor’s ownership and/or government registrations (such as Purchase Agreements and Bills of Sale) (“Titles”) to the Lot(s) to RMS prior to the Open Roads Online Only Auction of the Lot(s).
13.2. The Consignor warrants that the Consignor is the sole owner of the Lot(s), and that the Consignor has full right and authority to sell the Lot(s) (“Ownership”).
13.3. The Consignor agrees to provide RMS with a good, clear, and transferable Title to the Lot(s) in advance of the Open Roads Online Only Auction.
13.3.1. If for whatever reason RMS is forced to correct any Title defect, the Consignor agrees to first pay RMS a minimum fee of $500.00 USD and, if the Title defect costs more than $500.00 USD to correct, the Consignor agrees to pay for any and all additional reasonable expenses related to correcting such defect (“Title Fees”). The Title Fees will be deducted from the Consignor’s Proceeds.
13.3.2. In cases where pre-existing Titles do not exist and insurance bonds are necessary, the Consignor will be charged Title Fees on a case-by-case basis.
13.4. In order to facilitate and transfer the Title for the Lot(s), the Consignor agrees to sign the Power of Attorney attached to the Auction Consignment Agreement.
13.5. THE CONSIGNOR WILL INDEMNIFY, DEFEND, AND HOLD RMS AND ITS AFFILIATES HARMLESS FROM ANY CLAIMS, DEMANDS, LOSSES, EXPENSES, DAMAGES, COSTS, ACTIONS, AND LIABILITIES, INCLUDING WITHOUT LIMITATION TO COURT COSTS AND ATTORNEY FEES, OF WHATEVER KIND OR NATURE THAT MAY OR MAY NOT OCCUR, WHETHER KNOWN OR UNKNOWN, ON THE ACCOUNT OF OR ARISING OUT OF ALL MATTERS RELATED TO THE OWNERSHIP AND TITLES.
14. Possession of Lot(s) Prior to and During the Lot(s) Being Offered in an Open Roads Online Only Auction:
14.1. RMS strongly recommends that the Consignor work with RMS to arrange for the transport of the Lot(s) to a designated RMS storage facility.
14.2. If RMS has agreed that the Consignor may retain possession of the Lot(s) while they are offered at an Open Roads Online Only Auction, the Consignor must, (i) maintain insurance on the Lot(s) while in the Consignor’s possession; (ii) maintain possession of the Lot(s) until RMS has provided written confirmation that it has received complete full payment from the Buyer; (iii) use best efforts to arrange and coordinate with the Buyer the transportation of the Lot(s) to the Buyer; and (iv) upon RMS’ request, clearly communicate with RMS the plans for the transportation of the Lot(s) to the Buyer.
14.3. If, at RMS’ sole discretion, the Consignor breaches its obligations as outlined clause 14.2, the Lot(s) will be considered “withdrawn” from the Open Roads Online Only Auction and clause 26 (Withdrawn Lot(s)) of these Conditions applies. In addition to clause 26 (Withdrawn Lot(s)) of these Conditions applying, the Consignor will INDEMNIFY, DEFEND (WITH RMS’ SOLE CHOICE OF COUNSEL), AND HOLD RMS AND ITS AFFILIATES HARMLESS FROM ANY CLAIMS, DEMANDS, LOSSES, EXPENSES, DAMAGES, COSTS, ACTIONS, AND LIABILITIES, INCLUDING WITHOUT LIMITATION TO COURT COSTS AND ATTORNEYS’ FEES, OF WHATEVER KIND OR NATURE THAT MAY OR MAY NOT OCCUR, WHETHER KNOWN OR UNKNOWN, ON THE ACCOUNT OF, ARISING OUT OF, OR RELATED TO THE LOT(S), THE CONSIGNOR MAINTAINING POSSESSION OF THE LOT(S), OR RMS’ OFFERING, AUCTION, OR SALE OF THE LOT(S).
15. Transportation: The Consignor will be responsible for paying any and all expenses associated with transporting the Lot(s) to either an RMS facility or a third-party facility of which RMS has contracted with prior to the Lot(s) being offered in an Open Roads Online Only Auction. If the Lot(s) are being offered with no Reserve, upon request from the Consignor, RMS may agree to recap the transportation expenses from the Consignor’s Proceeds.
16. Non-Payment by Buyer:
16.1. In the event of non-payment by the Buyer, RMS will endeavor to use reasonable efforts to enforce payment from the Buyer; however, RMS shall not be liable to the Consignor for payment. If the Buyer does not pay RMS, then at RMS’ sole discretion, RMS may cancel the Sale and return the Lot(s) to the Consignor, enforce payment by the Buyer, or take other actions permitted by law. Notwithstanding the preceding sentences, if RMS has paid any portion of the purchase price to the Consignor, but the purchase price has not been collected from the Buyer of the Lot(s), the Consignor hereby agrees, simultaneously with such payment, to assign to RMS any and all rights that the Consignor may have against such Buyers to the extent of such payment, whether at law, in equity, or under the Contractual Obligations. The Consignor agrees to execute any documents reasonably necessary to evidence this assignment, including with respect to the Consignor’s written statements (in any and all mediums) made, warranties and indemnities as set forth in these Conditions. The Consignor authorizes RMS, at RMS’ sole discretion, to impose on any Buyer, and retain for RMS’ account, a late charge if payment is not made in accordance with the Contractual Obligations.
16.2. In the event of a non-payment, the Consignor will INDEMNIFY, DEFEND (WITH RMS’ SOLE CHOICE OF COUNSEL), AND HOLD RMS AND ITS AFFILIATES HARMLESS FROM ANY CLAIMS, DEMANDS, LOSSES, EXPENSES, DAMAGES, COSTS, ACTIONS, AND LIABILITIES, INCLUDING WITHOUT LIMITATION TO COURT COSTS AND ATTORNEYS’ FEES, OF WHATEVER KIND OR NATURE THAT MAY OR MAY NOT OCCUR, WHETHER KNOWN OR UNKNOWN, ON THE ACCOUNT OF, ARISING OUT OF, OR RELATED TO THE LOT(S), THE NON-PAYMENT, OR RMS ACTIONS TAKEN IN ACCORDANCE WITH CLAUSE 16.1.
17. Lot(s) Description:
17.1. The Consignor agrees to accept sole responsibility and liability for any oral or written statements (in any and all mediums) made by RMS that accurately repeat the information supplied by the Consignor as to the originality, character, features, condition, correctness, authenticity, or history of the Lot(s), and the Consignor will INDEMNIFY, DEFEND (WITH RMS’ SOLE CHOICE OF COUNSEL), AND HOLD RMS AND ITS AFFILIATES HARMLESS FROM ANY CLAIMS, DEMANDS, LOSSES, EXPENSES, DAMAGES, COSTS, ACTIONS, AND LIABILITIES, INCLUDING WITHOUT LIMITATION TO COURT COSTS AND ATTORNEYS’ FEES, OF WHATEVER KIND OR NATURE THAT MAY OR MAY NOT OCCUR, WHETHER KNOWN OR UNKNOWN, ON THE ACCOUNT OF, ARISING OUT OF, OR RELATED TO THE LOT(S), THE LOT(S) DESCRIPTION, OR RMS’ OFFERING, AUCTION, OR SALE OF THE LOT(S).
17.2. The Consignor is required to review and approve any and all descriptions within 48 hours of receiving the description from RMS.
17.3. If, for whatever reason, RMS has not received an approval of the Lot(s) description from the Consignor at least 3 business days prior to the Open Roads Online Only Auction, RMS reserves the right to deem that the Consignor has not complied with the Contractual Obligations and therefore, may either Withhold the Lot(s) or cancel the Sale of the Lot(s) outlined in clause 22 (Cancellation/Rescission of Lot(s)).
17.4. If RMS cancels the Sale of the Lot(s) due to the obligations in clause 17.3 not being fulfilled, the Consignor will:
17.4.1. pay RMS any and all Expenses and Fees incurred by RMS assigned to the Lot(s); and
17.4.2. will be responsible to pay RMS a 10% commission on the Lot(s) had the Lot(s) (a) met its Reserve or (b) if no Reserve, then the Lot’s fair market value as determined by RMS.
18. Lot(s) Operation:
18.1. The Consignor warrants that the Lot(s) is in a safe, operable condition to be driven or moved by RMS’ employees or representatives. The Consignor acknowledges that, should RMS, at RMS’ sole discretion, determine that the Lot(s) is not safe to operate or move, RMS may rescind the consignment of the Lot(s) from the Open Roads Online Only Auction.
18.2. The Consignor authorizes RMS to perform minor work on the Lot(s) to facilitate the Lot(s) starting and driving or being presentable for Sale. THE CONSIGNOR WILL HOLD RMS AND ITS AFFILIATES HARMLESS AND INDEMNIFY RMS AND ITS AFFILIATES FROM ANY DAMAGE OR LIABILITY CAUSED BY THE MINOR WORK PERFORMED BY RMS’ STAFF ON THE LOT(S).
19. Drivers: The Consignor acknowledges and grants permission for RMS and its employees and agents to drive or move the Lot(s) from time to time before, during, or after the Sale. THE CONSIGNOR ACKNOWLEDGES THAT IT IS THE CONSIGNOR’S RESPONSIBILITY TO MAINTAIN SUFFICIENT INSURANCE COVERAGE TO PERMIT SUCH DRIVING OR MOVING, AND THE CONSIGNOR SPECIFICALLY AGREES TO INDEMNIFY, DEFEND, AND HOLD RMS AND ITS AFFILIATES HARMLESS, AS PROVIDED IN THESE CONDITIONS, FROM ANY LIABILITY THAT MAY RESULT FROM SUCH DRIVING OR MOVEMENT OF THE LOT(S).
20. No-Sale of Lot(s):
20.1. If there is a no-sale, any and all fees owing, including but not limited to Title Fees, must be paid to RMS before the Lot(s) is released to the Consignor.
20.2. If RMS maintained possession of the Lot(s) during the Open Roads Online Only Auction and, if there is a no-sale, the non-sold Lot(s) must be removed from the location in which they resided during the Open Roads Online Only Auction within 5 business days of the Open Roads Online Only Auction or such other period that RMS may designate (“Removal Deadline”).
20.3. Contingent upon clause 20.1. being satisfied, the Lot’s Title (as long as the Consignor does not owe RMS any money) will be returned to the Consignor either (i) upon expiration of the exclusivity period of the Auction Consignment Agreement or (ii) after commissions have been paid for the withdrawal of the Lot(s) (as outlined in clause 26 (Withdrawn Lot(s)).
20.4. If the Removal Deadline is not met, the Consignor will be required to pay RMS a daily storage fee of up to $50.00 USD per Lot(s) until full payment and instructions for transport have been received. Please note it is the Consignor’s responsibility to insure their Lot(s) whilst in storage.
20.5. If the Consignor has not removed their Lot(s) from the storage facility within 6 months of the auction date, RMS has the right to enter the Lot(s) into an auction at no reserve or to sell it via private sale for fair market value. Once sold, RMS will retain all reasonable expenses including storage, auction fees if sold via auction, and if sold via private sale, a 20% commission; if there are any remaining funds, these will be returned to the Consignor within 30 business days of the Sale.
20.6. RMS shall have the right to exercise a charge or lien on the non-sold Lot(s) or any other property belonging to the Consignor in the possession of RMS if the Consignor owes RMS money, and to apply any money due or to become due to the Consignor to the outstanding money the Consignor owes to RMS.
21. Cancellation/Rescission of Open Roads Online Only Auction: RMS will use reasonable efforts to avoid cancellation/rescission; however, RMS has the sole discretion to cancel/rescind the Open Roads Online Only Auction and will not be liable to the Consignor for any losses or damages resulting from the cancellation/rescission if RMS believes the following events have occurred or have a reasonable chance of occurring:
21.1. Force majeure events, including but not limited to:
21.1.1. Any natural disaster that, despite reasonable efforts, restricts RMS from holding the Open Roads Online Only Auction; and
21.1.2. Any terrorist event, pandemic (including resulting governmental restrictions), war, as well as any “guideline” or “recommendation” by government (local, state/province, federal/national) and/or accredited health organizations (including the World Health Organization) that, despite reasonable efforts, restricts RMS from holding the Open Roads Online Only Auction in its contemplated form.
21.2. Government/court actions, orders, injunctions, regulations, laws, or non-compliance with applicable rules, regulations, or laws to hold the Open Roads Online Only Auction that necessitate or make prudent a cancellation.
21.3. If the Open Roads Online Only Auction is cancelled for any of the reasons outlined in this clause, RMS has the right-of-first refusal to consign and sell the Lot(s) for up to one year from the date of cancellation. If the Consignor has an opportunity to place the Lot(s) in an auction or sell via private sale, RMS has the right to meet the economic terms of the opportunity and sell on behalf of the Consignor for up to 5 business days from the Consignor providing notice.
22. Cancellation/Rescission of Lot(s): RMS will use reasonable efforts to avoid cancellation/rescission; however, RMS has the sole discretion to cancel/rescind the Sale of a Lot(s) and will not be liable to the Consignor for any losses or damages resulting from the cancellation/rescission if RMS believes the following events have occurred or have a reasonable chance of occurring:
22.1. If RMS was forced to Withhold the Lot(s) as outlined in clause 12.2 of these Conditions and the Consignor has not cured the issue necessitating the Withhold within a reasonable time period;
22.2. RMS opines that the Lot(s) has been intentionally or materially misrepresented by the Consignor;
22.3. RMS opines that physical damage to the Lot(s), which cannot be sufficiently repaired prior to the Open Roads Online Only Auction, occurred after these Conditions was signed;
22.4. RMS is served with a lawsuit or threatened with a Dispute from a third party in relation to the Lot(s);
22.5. RMS faces significant reputational damages that would cause monetary damages for offering or selling the Lot(s);
22.6. Material issues regarding the Title, registration, or transfer of Ownership that cannot be reasonably cured or RMS believes would expose it to claims or Disputes from a third party;
22.7. Material issues regarding the provenance, merchantability, or authenticity of the Lot(s) that cannot be reasonably cured or RMS believes would expose it to claims or Disputes from a third party;
22.8. Government/court actions, orders, injunctions, regulations, laws, or non-compliance with applicable rules, regulations, or laws to sell the Lot(s) at the Open Roads Online Only Auction that necessitate a cancellation; or
22.9. If there are Disputes, claims, accusations, notices, or similar communications made by the Buyer in regard to their purchase of a Lot(s) not being authentic, being misrepresented, having an encumbered Title or registration, having an undisclosed material issue, or having a similar claim, RMS has the right to retain the Buyer’s funds on account and be the arbitrator as to the merit of the Buyer’s claims, including to cancel or rescind the Sale of the Lot(s) and reimburse the payment to the Buyer if RMS in its sole discretion deems the Buyer’s claims to be valid.
22.10. If the Sale of the Lot(s) is cancelled for any of the reasons outlined in this clause, RMS has the right-of-first refusal to consign and sell the Lot(s) for up to one year from the date of cancellation. If the Consignor has an opportunity to place the Lot(s) in an auction or sell via private sale, RMS has the right to meet the economic terms of the opportunity and sell on behalf of the Consignor for up to 5 business days from the Consignor providing notice.
23. Estimates: No pre-sale estimates will be listed with the Lot(s) for the Open Roads Online Only Auction.
24. Odometer Statement: The Consignor will provide a duly executed odometer statement on or before the first day of the Open Roads Online Only Auction, and further THE CONSIGNOR ACCEPTS SOLE RESPONSIBILITY AND SHALL DEFEND, INDEMNIFY, AND HOLD RMS AND ITS AFFILIATES HARMLESS FOR THE ACCURACY OR INACCURACY OF SUCH STATEMENT.
25. Insurance: The Consignor will be responsible for maintaining adequate property insurance on the Lot(s) at all times, and this insurance must be at least equal to the fair market value for the Lot(s) or such other amount agreed to between Consignor and RMS, which in each case shall include insurance for damages to the Lot(s) and shall not be cancellable by the insurance company until after Ownership and Title have passed to the Buyer and the Buyer has taken possession of the Lot(s) from RMS. The Consignor agrees that RMS and its respective affiliates and agents will not be responsible for, and the Consignor releases RMS and its respective affiliates, agents, and warehouses from, any and all liability for loss of, theft of, or damage to the Lot(s).
26. Withdrawn Lot(s):
26.1. The Consignor acknowledges that RMS has incurred and will incur significant costs preparing, advertising, marketing, and promoting the Lot(s) for the Open Roads Online Only Auction.
26.2. If the Consignor withdraws one or more of the Lot(s) from the Open Roads Online Only Auction after the signing of these Conditions or otherwise sells the Lot(s) in violation of these Conditions, within 10 business days of RMS providing notice, the Consignor will pay RMS the Buyers’ Premium and 50% of the Sellers’ Commission (if the Sellers’ Commission is waived in the Specific Information or Specific Conditions of the Auction Consignment Agreement, for the purposes of this clause, the Sellers’ Commission will be 5% of the Hammer Price) that would have been due under these Conditions had the Lot(s) (a) met their Reserve or (b) if no Reserve, then the Lot’s fair market value as determined by RMS.
27. Open Roads Online Only Auction is “As Available” and “As Is.”:
27.1. All bids on a Lot(s) will be via RMS’ Online Only Auction platform.
27.2. Although RMS endeavors to provide a safe, secure, and functioning Open Roads Online Only Auction, RMS cannot guarantee the continuous operation of or access to the Open Roads Online Only Auction or a Bidder’s ability to connect and navigate the Open Roads Online Only Auction.
27.3. Consignors agree that they are making use of the Open Roads Online Only Auction at their own risk and that the Open Roads Online Only Auction is being provided to the Consignors on an “AS AVAILABLE” and “AS IS” basis. Accordingly, to the extent permitted by applicable law, RMS excludes all expressed or implied warranties, terms, and conditions, including but not limited to implied warranties of merchantability, fitness for a particular purpose, and non-infringement.
28. Legal Action:
28.1. The governing law and jurisdiction for any legal action will correspond with the currency that the Lot(s) is consigned in under clause 5.1, as follows:
28.2. For Lot(s) consigned in USD: These Conditions shall be interpreted in accordance with the laws of the State of Michigan, U.S., without regard to choice of law principles. Any dispute, claim, or controversy arising out of or relating to these Conditions or the breach, termination, enforcement, interpretation, or validity thereof, including the determination of the scope or applicability of these Conditions shall exclusively be subject to arbitration, and shall first be subject to mediation as a condition precedent to arbitration. If mediation is unsuccessful, the parties shall proceed to arbitration near Detroit, Michigan, before one arbitrator and all proceedings shall be conducted in English. The mediation and arbitration shall be administered by the American Arbitration Association pursuant to the AAA Commercial Arbitration Rules and Mediation Procedures. Judgment on the award may be entered in any court having jurisdiction. This clause shall not preclude the parties from seeking provisional remedies in aid of arbitration from a court of appropriate jurisdiction. In the event that either party brings action against the other, arising from or relating to this auction, the prevailing party, as determined by the arbitrator or court, shall be entitled to recover its reasonable attorneys’ fees and costs, including through appeals. To the fullest extent permitted by law, Consignor agrees that the maximum liability of RMS arising out of or related to these Conditions or any claim or dispute between the parties regarding the Lot(s) or Open Roads Online Only Auction shall be the Sellers’ Commission that would have been due under clause 6.1 of these Conditions had the Lot(s) (a) met their Reserve; (b) if offered without Reserve, then the Lot’s published low estimate; or (c) if no published low estimate, then the Lot’s fair market value as determined by RMS.
28.3. For Lot(s) consigned in EURO or British Pounds: These Conditions shall be interpreted in accordance with the laws of England, without regard to choice of law principles. Any dispute, claim, or controversy arising out of or relating to these Conditions or the breach, termination, enforcement, interpretation, or validity thereof, including the determination of the scope or applicability of these Conditions to arbitrate, shall exclusively be subject to arbitration, and shall first be subject to mediation as a condition precedent to arbitration. If mediation is unsuccessful, the parties shall proceed to arbitration in London, England, before one arbitrator, and all proceedings shall be conducted in English. The mediation and arbitration shall be administered by JAMS pursuant to its Comprehensive Arbitration Rules and Procedures or pursuant to JAMS’ Streamlined Arbitration Rules and Procedures. Judgment on the award may be entered in any court having jurisdiction. This clause shall not preclude the parties from seeking provisional remedies in aid of arbitration from a court of appropriate jurisdiction. In the event that either party brings action against the other, arising from or relating to the Open Roads Online Only Auction or the Lot(s), the prevailing party, as determined by the arbitrator or court, shall be entitled to recover its reasonable attorneys’ fees and costs, including through appeals. To the fullest extent permitted by law, Consignor agrees that the maximum liability of RMS arising out of or related to these Conditions or any claim or dispute between the parties regarding the Lot(s) or Open Roads Online Only Auction shall be the Sellers’ Commission that would have been due under clause 6.1. of these Conditions had the Lot(s) (a) met their Reserve; (b) if offered without Reserve, then the Lot’s published low estimate; or (c) if no published low estimate, then the Lot’s fair market value as determined by RMS.
29. Bidding Restrictions: The Consignor hereby agrees not to bid on his/her/their Lot(s). Although the auctioneer shall be entitled to bid on the Consignor’s behalf in an amount not to exceed the amount of the Reserve (if applicable), the Consignor shall neither instruct nor permit any other person to bid on behalf of the Consignor for his/her/their Lot(s). If, however, in violation of the foregoing, the Consignor (or his or her agent) bids on his/her/their Lot(s) and becomes the successful Bidder, the Expenses and Fees and Buyers’ Premium on the Hammer Price shall be payable by the Consignor. If the Consignor does not pay in accordance with this clause within 10 business days, his/her/their Lot(s) may be sold by RMS without Reserve.
30. Anti-sniping: If a bid is placed within the final two minutes of bids being accepted on an individual Lot(s), the Open Roads Online Only Auction for that individual Lot(s) may be extended up to an additional two minutes to prevent a Bidder from trying to place a high bid in the final moments of the Open Roads Online Only Auction for that individual Lot(s).
31. Lot’s Batteries: If RMS receives a Lot(s) with a dead battery, or shows signs of a draining battery, RMS will use commercially reasonable effort to install a new battery, and an automatic $200.00 USD (or the local currency equivalent) replacement fee will be charged to the Consignor. In the event a new or replacement battery costs more than $200.00 USD (or the local currency equivalent), RMS will charge the actual cost of battery plus $200.00 USD, if the battery is replaceable by an RMS employee.
32. Antifreeze Is the Responsibility of the Consignor:
32.1. As the Consignor’s Lot(s) could be shipped to a location where below-freezing temperatures are a possibility, it is the Consignor’s responsibility to ensure that, within the last 6 months, they have winterized their Lot(s) for shipping in freezing temperatures. Winterizing one or more of the Lot(s) means that the Consignor has completely filled and properly mixed, at a minimum, –25°C-rated antifreeze into their Lot’s radiator.
32.2. If any damage occurs because the Consignor did not properly winterize their Lot(s), it will be the Consignor’s responsibility to cover the damages, and RMS may recoup these damages from the Consignor’s settlement. If it is found that the Consignor did not properly winterize their Lot(s), the associated costs with checking, filling, and disposing of the antifreeze will be recouped from the Consignor’s settlement; if the Lot(s) is not sold, the Consignor must pay RMS before the Consignor can retake possession of their Lot(s). If already settled, the Consignor must pay RMS directly.
33. Entire Agreement: This document shall be binding upon the Parties and their respective heirs, personal representatives, and assigns. Except as otherwise expressly provided herein, these Conditions shall not be modified, except in writing. Whenever used in these Conditions, as the contract requires, the singular number shall include the plural, the plural number shall include the singular, the masculine gender shall include the feminine and neuter, the feminine gender shall include the masculine and neuter, and the neuter gender shall include the masculine and feminine.
34. No Legal or Tax Advice: These Conditions are an important legal document. The Consignor acknowledges that the Consignor has had the opportunity to consult an attorney before signing these Conditions and has signed these Conditions after having the opportunity to consult with an attorney of their own choosing. Notwithstanding any references to any transactions or arrangements in these Conditions, or any contemporaneous written, oral, or implied understandings of the Parties relating to the subject matter of these Conditions, RMS has not provided legal or tax advice or tax planning services to the Consignor or for the Consignor’s benefit in connection with the transactions contemplated by these Conditions, and no one at RMS has acted as the Consignor’s attorney or tax advisor.
35. Data Use: The Consignor agrees to allow RMS to use their personal information in accordance with RMS’ privacy policy. RMS uses your personal information to provide services specifically tailored toward your requirements and to treat you in a personal way; to fulfill your agreements regarding the consignment and purchase of items at RMS auctions and private sales; to provide you with information on upcoming sales; to carry out analysis and market research; to undertake targeted online advertising; to send status updates and service communications; to improve our websites, products, and services; to provide payment services; and for management and administrative purposes. The full Privacy Policy can be found at the bottom of the RMS website homepage under the Privacy and Terms tab. If you wish to ask any questions regarding the use of your personal information, request a full accounting of what personal information is on file with RMS, unsubscribe to any services, or purge your personal information from RMS’ systems, please email privacy@rmsothebys.com.
36. Anti-Money Laundering: The Consignor agrees to provide all information and assistance reasonably requested by RMS to comply with RMS’ internal anti-money laundering process and to comply with any and all anti-money laundering laws and regulations.
37. Photography, Videography, and Illustrations: All photographs, videography, and illustrations commissioned by RMS for the Lot(s) are the absolute property of RMS, and RMS shall have the absolute right to use the photographs, videography, and illustrations as RMS deems fit.
38. Licenses: The Open Roads Online Only Auction will be produced by RM Auctions, Inc. of 5536 County Road 11A, Auburn, IN 46706 (Indiana Secretary of State Dealer License No. 1800217).
39. Confidentiality of the Buyer(s) Identity: Unless RMS elects to do so in its sole discretion, RMS shall not be required to share or produce the name of Buyer(s) to the Consignor(s) without a court order or except in accordance with government regulation.
40. Consumer Protection Rights: If the Consignor is a Business (defined below) AND the winning Bidder is a consumer AND the consumer has a right of withdrawal against the Consignor on the basis of EU consumer protection laws, the Consignor agrees that the Buyer has the automatic statutory right for 14 calendar days after the Buyer is responsible to take possession of the Lot(s) to rescind the Sale of the Lot(s) for any reason. Nothing in this clause shall affect any Buyer(s) legal rights that shall apply against RMS or the Consignor as a result of any applicable laws.
40.1. The definition of Business for these Conditions is a natural person or legal entity in the business of selling automobiles and acting for purposes relating to such business (“Business”).
40.2. RMS reserves the right to make the reasonable determination as to whether a Consignor meets the definition of Business.
41. Set-Off: If the Consignor owes RMS money from this or an unrelated transaction, RMS may unilaterally retain funds to satisfy the amount owed by the Consignor. RMS may unilaterally retain funds from the Buyer if the Consignor has breached the terms outlined in these Conditions.
