Auction Terms & Conditions AUCTION TERMS AND CONDITIONS
***All internet bids will be processed on the Bidder's credit card if the items have not been paidwithin two (2) business days from sale day. Any purchased items not picked up within seven (7) days of the auction will be considered abandoned and resold for storage.***
In order to minimize the risk of a floor bidder and an online absentee bidder offering on the same increment, all absentee bids will start at their maximum bid.
1. Graham Auctions (Auctioneers) hereby grants to the online account holder or party whose signature appears on the Bidder's Registration Agreement (Bidder), the right to use the number shown hereby for the purpose of bidding at an auction sale to be conducted by Auctioneers. Such right is granted at the Auctioneer's sole discretion and may be revoked at any time.
2. Bidder acknowledges he or she has received, read and understands these terms as printedon the inside back cover of the Listing Catalogue or presented in our other notices, and agreesto comply with and be bound by such.
3. The auction will be conducted by offering in the terms by lot (Lot), either individually or ingroups. The Bidder offering the highest bid accepted by the Auctioneers shall be the purchaser(Purchaser) of the offered lot. Purchaser accepts a Lot when he or she makes a bid. All salesare final.
4. Bidder, whether acting as principal, agent, officer or director of a company or otherwise, inany capacity whatsoever, and the company he or she represents, both jointly and severally,agree:
(a) to indemnify and save harmless Auctioneers and its Consignors from any and allactions, causes of action, suits, damages, costs and losses of any nature, arisingfrom the attendance or participation of Bidder, his or her agents or employees, at theauction sale and/or on the auction site whether before, during or after the auction sale; and
(b) to be responsible for the payment of the purchase price and taxes due on all Bidder'spurchases.
5. Some items in the auction may be subject to a Reserve.
6. The Bidder grants to the Auctioneers a security interest in the Purchases, to secure paymentof the purchase price. In the event of non-payment, the Auctioneers may proceed to file theBidder Registration Agreement as a financing statement to perfect the security interest grantedby this Security Agreement.
7. There shall be no guarantees or warranties, expressed or implied, statutory or otherwise ofany nature whatsoever in respect of the Lots offered at the auction. Each and every lot will besold "as is where is." Specifically, but without limitation, Auctioneers make no representation orwarranty that any of the Lots:
(a) conform to any standard in respect of safety, pollution or hazardous material or toany standard or requirement of any applicable authority, law or regulation.
(b) are fit for any particular purpose.
(c) are merchantable or financeable.
(d) are of any particular age, year of manufacture, model, make or condition. Bidder agrees he or she has satisfied him or herself and is not relying on Auctioneers, norare Auctioneers liable for any matter in respect of the above? Bidder further agrees to repay, at his or her cost, any Lot purchased at the auction to a safe operating condition and, without limitation, to a condition that meets any standard orthe requirement of any applicable authority, law or regulation, including those concerningany use to which the lot may be put.
8. Bidder acknowledges that an auction site is a potentially dangerous place. Flammable,noxious, corrosive, and pressurized substances are present, heavy equipment is being operated, and electricity may be live. Every person at the auction site, at any time, shall be there at his orher own risk with notice of the condition of the premises and the activities thereon, and Biddershall so advise his or her agents and employees. No person shall have any claim againstAuctioneers, their agents and employees, or Principals for any injuries sustained, nor fordamages to or loss of property which may occur from any cause whatsoever.
9. Auctioneers may, at any time, at their sole discretion and without notice or liability to Bidder:
(a) withdraw or cancel the sale of any Lot.
(b) offer any Lots in groups or with privilege.
10. Any dispute arising as to any bidding shall be settled by Auctioneers at their sole discretion,and Auctioneers may put the lot in dispute up for sale again. Auctioneers reserve the right torefuse any bid that they consider to be an insignificant advance over the preceding bid.
11. Purchases become the responsibility of and shall be at the risk of the purchaser uponacceptance of his or her bid. It shall be the responsibility of the purchaser to ensure his or herpurchases immediately. Auctioneers shall not be responsible for loss or damage to anyPurchase.
12. All payments must be made to Auctioneers by cash, certified cheque or regular chequeaccompanied by a bank guarantee acceptable to Auctioneers. Lots under $10,000 must bepaid in full on the day of the auction. For Lots over $10,000 Purchase price must be paid in fullwithin two (2) business days of the auction.
13. Purchaser shall not be entitled to possession of any of his or her Purchases until the totalpurchase price of all his or her Purchases, including all applicable goods, sales or use taxes,has been fully paid. In the event, purchaser fails to comply with any Terms, Auctioneers, at theirsole discretion, have the right to resell such Purchases by public or private sale without notice toPurchaser. Should Auctioneers resell any Purchase, the net proceeds therefrom (afterdeducting commissions of 14% of any costs) shall be credited to the original purchaser'saccount and the original purchaser shall forthwith upon demand pay Auctioneers, as damages,any deficiency arising from the resale.
14. All purchases must be removed from the auction site within the time announced or posted atthe auction site, and all costs, responsibility and risk of such removal shall be borne byPurchaser. Purchaser shall use prudence in effecting such removal. Auctioneers reserve theright to require proof of adequate insurance coverage from any Purchaser for Purchasesrequiring dismantling, rigging or hot cutting. Purchaser agrees to indemnify and save harmlessboth Consignor and Auctioneers against any damage caused by the act of purchaser and/or hisor her agents in connection with the dismantling or removal of any Purchase. If for any reason Purchaser fails to remove and store the said Purchase at Purchaser's sole risk and expense,Purchaser shall be liable for any rent incurred or damages suffered by Auctioneers because ofPurchaser's failure to remove any Purchase.
15. The Listing Catalogue has been prepared as a guide only, based on information fromsources believed to be reliable and from the Consignor; however, its accuracy cannot beguaranteed or warranted. No sale shall be invalidated, nor shall Auctioneers be liable as aresult of defects or inaccuracies in the Listing Catalogue. Bidder acknowledges that all Lotswere available for inspection prior to the auction and that it is his or her responsibility to inspectall equipment and to make his or her own inquiries prior to bidding.
16. If, for any reason, Auctioneers are unable to make available or deliver any purchase or cleartitle to same, or documentation required in respect of any Purchase, whether before or afterdeliver, the Auctioneers sole liability, if any, shall be the return of monies paid in respect of suchpurchase upon its return by purchaser. Any such Purchase shall be returned or surrenderedupon demand by Auctioneers.
17. Interest on overdue amounts will be paid by purchaser at a rate of 18% per annum or atsuch other maximum rate as allowed by law, together with any legal or collection costs incurredby Auctioneers.18. Upon Purchasers arranging for and assuming all risk and costs associated therewith toAuctioneers' satisfaction, Auctioneers will ship Purchases to, and give physical possession at adestination specified by purchaser.
19. These are the complete Terms and may not be amended except by agreement in writing signed by the Auctioneers and the respective Purchaser.
20. All Bidders are subject to pay a Buyer's Premium as follows:
(a) 12% for our regular Miscellaneous Auctions
(b) 12% on the first $5000 and 2.5% on balance to a maximum of $1000, per item,for our Heavy Equipment and Industrial Sales;
(c) Vehicle Buyer's Fee Schedule per vehicle:
(i) Purchase Price between $0 - 999 is a $150 fee;
(ii) Purchase Price between $1000 - 1999 is a $200 fee;
(iii) Purchase Price between $2000 - 2999 is a $250 fee;
(iv) Purchase Price between $3000 - 3999 is a $300 fee;
(v) Purchase Price between $4000 - 4999 is a $400 fee;
(vi) Purchase Price between $5000 and over is a $500 fee;