Electrical Overstock Auction

Auction Terms and Condition


BIDDER REGISTRATION:


Bidders must be 18 years of age or older and are required to register for the auction. In registration, Bidder must submit information found to be current, complete, and accurate for proper identification. Auctioneer does not sell or rent this information. Auctioneer uses email mailing lists to notify customers about online and live auctions. Customers who do not wish to be notified should contact the office of the Auctioneer and request removal from the email mailing list. The bidder is responsible for security of his/her bidding number/user name and password, and any and all bids placed under the assigned number-ID. Auctioneer should be notified immediately if Bidder believes number and/or password have been compromised. Auctioneer reserves the right to terminate registration, deny any person for any reason permission or access to bid, to reject any and all bids, and to suspend or ban Bidder from bidding, at Auctioneers sole discretion. Bidder registration is not transferable or assignable.


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Buyer’s Premium & Sales Tax


•15% Buyer’s Premium (BP) applies to all purchases and will be added to the final accepted bid price. You as the buyer agree to pay this premium. Sales tax will be collected on this premium as per Colorado sales tax laws.


• Sales Tax will be charged unless a valid Tax Exemption Form(s) are provided prior to pick up.


oForms can be submitted via email to [email protected] or brought to our office.


oAny tax collected by The Auction Team and turned into the state will be the buyer's responsibility to request a refund from the state.


oAll taxes are paid to Colorado monthly.


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Items Sold AS-IS


•All items are sold AS-IS, with no warranties, refunds, or returns.


•It is the buyer's responsibility to inspect items prior to bidding.


•Preview Times: Listed under the “Preview” tab for each auction. Please follow these times.


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Auction Participation


Important: By registering and bidding in this auction, you agree to all terms and conditions. Please review them carefully before bidding.


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Payment Terms


•The buyer specifically waves the right to dispute or deny payment for any purchases made with a credit card.


•The credit card on file will be charged for all purchases, including buyer’s premium and applicable fees, immediately following the auction if not paid for on pickup days.


•Denied cards (NSF, expired, etc.) will incur a $10 reprocessing fee.


•Purchases exceeding $2,500 or titled vehicles MUST be paid via cash, wire transfer, or prior arrangements with The Auction Team.


oNO CREDIT CARDS will be accepted for these purchases.


•No chargebacks are allowed; all payments are final.


•No item will be released or transferred until payment has been posted to our account.


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Ownership Transfer


•Ownership title passes upon receipt of good payment from the buyer.


•If the buyer fails to make payment within the terms specified herein:


1.The seller may immediately offer the items for resale, and the buyer agrees to pay any deficiency between the price paid and resale price.


2.The seller has the right to enforce specific performance and any other remedies available.


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Pickup Schedule


•Pickup Times:


oRefer to the “Removal Times” tab for each auction’s schedule.


•Late Pickup Fees:


o$50 per day for uncollected items.


oItems left 24+ hours past pickup time will be forfeited without refund.


oA $25 non-removal fee plus disposal costs will apply for abandoned lots.


•If staff are required to remain past closing times, buyers will be charged $50/hour.


•The Auction Team is not responsible for any items left beyond the listed pickup time.


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Shipping


•NO SHIPPING AVAILABLE FOR THIS AUCTION
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Bidding and Auction Process


1.Soft Close & Max Bid:


oOur auctions feature both a soft close (lot extensions for active bids) and a max bid option.


2.Technical Difficulties:


oThe Auction Team is not responsible for buyer-side technical issues (e.g., internet connection).


oIn the event of website malfunctions, technical issues, or incorrect data entry (closing times) auctions may be rescheduled to a later time and/or date.


oYou as the buyer hold The Auction Team harmless for any damages, or cost incurred by any technical difficulties.


3.Bid Retractions:


oBid retractions are not allowed. Mistakes in max bids will be addressed at The Auction Team discretion.


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Liability


•Buyers assume all risks and agree to hold The Auction Team harmless for any loss, damage, or claims related to purchased items.


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Loss of Bidding Privileges


•Failure to pay for or collect items will result in revoked bidding privileges.


•Repeated noncompliance will result in permanent suspension.


•A buyers account may go into a “Pending” status if there are any outstanding invoices, or items not picked up. In this instance you as the buyer are responsible for complying with previous terms to regain account activity.


•The bidder that has not paid for or has not removed their items from the auction site will be subject to the cost of storage, trucking, re-sale, deficiency balances, collection fees, and any legal fees for recouping a loss due to the bidder's negligence.


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Additional Policies


1.Reserves: The Auction Team may place reserves on items as per Colorado law. Reserves may or may not be listed on the website.


2.Documents: Buyers of vehicles, firearms, etc., must complete necessary legal documents. We are a licensed FFL dealer and will comply with any and all federal and state laws and regulations.


3.Guns: Out-of-state buyers must have firearms shipped to an FFL Dealer.


4.Item Withdrawal: The Auction Team reserves the right to withdraw any item from the auction for any reason, even if bids have been placed.


5.Non-Deliverable Items: If an item cannot be provided due to theft, acts of God, war, or any other reason, the buyer will be entitled to compensation equal to the money paid for the item and no more.


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Important Notes


•No guarantees are provided on the condition or accuracy of descriptions; all goods are sold AS-IS. Everything is sold “AS IS/WHERE IS” with no warranties, representation or guarantees expressed, implied or otherwise given. All sales are final.


•Preview items in advance and make your own assessments.


•In default of payment of items within the time announced for this auction the Auction Company, in addition to all other remedies allowed by law, may retain all monies received as deposit or otherwise, as liquidated damages.