EQUIPMENT AUCTION TERMS AND CONDITIONS
Auction Location: ONLINE ONLY
Auction Date & Time: August 11, 2023 @ 12:00 pm – August 18, 2023 @ 12:00 pm
Preview Location: 3695 Skippers Road, Skippers, VA 23879
July 28: 10:00 am – 4:00 pm, or by appointment
August 4: 10:00 am – 4:00 pm, or by appointment
Loadout & Removal Dates:
August 18: 12:00 pm – 5:00 pm
August 19: 8:00 am – 5:00 pm
General Terms and Conditions of the Auction:
- Registration: Bids will only be accepted from registered bidders. You will be required to provide a copy of your driver’s license to register to bid. Additional terms apply for bidding online (see below).
- Announcements: Announcements made at the time of commencement of or during the on-line sale by Walker Commercial Services, Inc. (“Auctioneer”) take precedence over all prior communications and announcements, both verbal and written, concerning the sale or the property.
- Buyer’s Premium: There will be a 10% Buyer’s Premium in effect on day of sale. The Buyer's Premium is added to the high bid amount, to determine the purchase price. Example: high bid of $100,000 x 10% = $10,000. $100,000 + $10,000 = $110,000 “Purchase Price”.
- “As-Is, Where-Is”: The property is being sold “AS-IS, WHERE-IS”. Potential Purchasers must perform such independent investigations with respect to the property as they deem necessary to verify information provided by Auctioneer.
- Sale’s Tax: There will be a 5.3% Sale’s Tax in effect on day of sale. The Sale’s Tax will only be charged to the high bid amount; not the Purchase Price inclusive of the Buyer’s Premium.
- Catalog: The Catalog has been prepared only as a guide based on information from sources believed to be reliable, but the accuracy thereof cannot be guaranteed or warranted by Auctioneer. Hours, miles or descriptions which are stated in the catalog descriptions as “showing” are read on the meters and odometers, or as provided by owner, with no guarantee of accuracy. Any information provided by Auctioneer or its representatives, verbal or otherwise, is not guaranteed, including, but not limited to, country of origin or manufacturer. Each Purchaser acknowledges that all items were available for inspection prior to the Auction, and each Purchaser relies on their own inspection of the items and not the information listed in the catalog or otherwise provided by Auctioneer.
- Advertisements: All information provided by Auctioneer is deemed reliable but is not warranted. The information contained in any advertisements by Auctioneer are subject to verification by all parties relying on it. No liability for its accuracy, error or omission is assumed by Auctioneer.
- Representation: Auctioneer and its representatives represent the Seller(s).
- Bid Increments: Auctioneer reserves the right to set bid increments.
- Bidding: All Bidding is open to the public without regard to race, color, sex, religion, or national origin. As used in these conditions of sale the term "the successful bid" means the highest bid acknowledged by Auctioneer, and the term "Contract Price" means the sum of the high bid plus the Buyer’s Premium. The highest bidder acknowledged by Auctioneer shall be the Purchaser. Auctioneer has the right to reject any bid or raise any bid which, in its opinion, is not commensurate with the value of the property being offered. Auctioneer may advance the bidding at their absolute discretion and, in the event of any dispute between bidders, may determine the successful bidder or re-offer and resell the property in dispute. Should there be any dispute after the sale, the record of final sale shall be conclusive.
- These terms apply unless the auction is advertised as ABSOLUTE. If advertised Absolute the Seller/Auctioneer will not bid, reject bids, raise bids or advance bids at any time. The item/equipment or vehicle will be sold to the highest bid, regardless of price.
- Titles: For property requiring title, if any, the title and bill of sale will be provided by the Seller at Seller’s expense and recorded or transferred at the expense of the Purchaser. All title documents and bills of sale will be available to Purchaser upon complete and final payment of all sums due to Auctioneer, unless otherwise announced on auction day.
- Bidder's Card: All bidders are required to have a bidder’s number to bid. To obtain a bidder’s number, you must be registered.
- Financing: Sales are not subject to any financing.
- Inspection: All property is sold "As Is, Where Is, With All Faults.” Description and other information are provided as a service to prospective bidders only and do not constitute a representation or warranty, either expressed or implied. Seller and Auctioneer disclaim all responsibility for physical condition. All Purchasers are responsible for prior inspection of properties on which they bid, and by bidding are deemed to have so inspected the property. Auctioneer and Seller are not responsible for delivering possession of the property, which is solely the responsibility of Purchaser.
- Risk of Loss: Upon the fall of the hammer, or when the Auctioneer says “sold,” or when the internet auction closes, as applicable, risk of loss shall pass to the Purchaser. Auctioneer accepts no responsibility for any loss or damage to any purchased item once the hammer falls. It shall be the responsibility of the Purchaser to insure all purchased items immediately.
- All Sales Are Final: All items are sold “AS IS, WHERE IS” and all sales are deemed to be final when the hammer falls.
- Balances: The entire balance must be paid in full by 4:00 p.m. on the closing day of the sale – August 18, 2023. There will be a 10% per day penalty on any outstanding unpaid balances, unless approved in writing by Auctioneer or Seller.
- Removal & Storage/Handling Fees: Removal must be scheduled with Auctioneer at the time of the conclusion of on-line bidding on August 18, 2023. If an item is left on the Auction site more than (10) calendar days without arrangements made, the item will be considered abandoned. Purchasers must pay, in full, for all items purchased prior to removing any item(s). Purchasers must remove all purchased items from the Auction site within the time referenced in paragraph 18(a) herein. Auctioneer does not provide assistance or equipment for the loading/unloading or removal of any vehicles or equipment from the Auction site under any circumstances. Purchaser takes full responsibility for the removal of purchased items and holds harmless and indemnifies the Seller and Auctioneer for any damage or injury in the removal or dismantling process. Auctioneer reserves the right to require proof of insurance coverage on any item, person, or company. If for any reason Purchaser fails to remove any items from the Auction site in accordance with this paragraph, including Purchaser’s failure to make full and complete payment of all sums due and owing to Auctioneer, Auctioneer may store any such unremoved item(s), and refuse to allow its removal, until all storage fees, reasonable handling, transportation, maintenance, security, and insurance are paid in full. The storage fee is charged in addition to the late charge for any unpaid balances.
- Loadout & Removal: Must occur upon full payment on August 18 from 12:00 p.m. to 5:00 p.m. OR August 19 from 8:00 a.m. to 5:00 p.m.
- Abandoned Property: Auctioneer may deem abandoned any item left at the Auction site after the time provided for removal. In addition, Auctioneer, in consultation with Seller, shall have the right to resell such items by public or private sale. Auctioneer’s exercise of its right to sell any items in accordance with this paragraph, shall not prevent Auctioneer or Seller from recovering the Purchase Price or any other amount due to Auctioneer or Seller from the Purchaser. Redemption of any abandoned goods will be allowed after complete payment of the Purchase Price and all other amounts due and owing to Auctioneer.
- Unauthorized Conduct: Auctioneer reserves the right to refuse any bidder registration privileges at any Auction for any reason including, but not limited to: 1) tampering with equipment during a preview, 2) collusive bidding, 3) stealing, 4) failure to abide by these Terms and Conditions, or (5) any inappropriate behavior. All Bidders acknowledge Auctioneer’s right to refuse access to Bidders for such conduct.
Acceptance & Agreement: Registration and bidding on items in this Auction, whether onsite or online, constitutes acceptance of all the foregoing terms and conditions, including announcements at the sale and the terms of the Bill of Sale, which if inconsistent with any of the terms contained herein, shall govern.
ADDITIONAL TERMS FOR BIDDING ON-LINE
When Auctioneer is satisfied that all of the bids have been placed, Auctioneer will announce that the bidding has stopped – it will, at that time, be determined that the highest bidder is the successful bidder. Auctioneer and/or authorized agents of the Seller reserve the right to bid on behalf of the Seller, unless advertised as Absolute. To bid online, you must register through the auction bidding platform at https://walkercommercialservices.bidwrangler.com/ui.
If you are the successful high bidder the entire balance must be paid by 4:00 p.m. on the day of the sale, August 18, 2023. A hold will be placed on your credit card equal to the contract price (high bid + 5.3% Sales Tax + 10% Buyer’s Premium) immediately following the sale. This hold will be released once the balance is paid in full through one of the following three payment methods. If the balance is not paid in full by 4:00 p.m. on the day of the sale, your credit card will be charged for the balance plus a 3% processing fee. There will be no exceptions.
- Provide a cashier’s check payable to Walker Commercial Services, Inc. at the company/address listed in reference table below.
- Wire funds* plus a $35.00 convenience fee to cover the wire transfer charge. NOTE - that generally wires must be initiated prior to 2:00p.m. in order to clear the same day by 5:00p.m.
- Credit/debit card: Authorize Auctioneer to charge your card for the contract price + 3% processing fee.
Bid Execution & Technical Problems: Auctioneer is not responsible for failing to execute bids due to Auctioneer, hosting provider, or bidder’s technological difficulties. Auctioneer has made reasonable efforts to provide for online bidding for this sale. Bidders recognize and acknowledge, however, that technical problems with hardware, software or internet connectivity, as well as human errors, may arise and may affect, without limitation, the sale website, our online bidding program and process, Auctioneer, or bidders internet service and access and connection to this sale bidding program and process. All Bidders further acknowledge that these and other technical problems may develop at any time with or without notice. Bidders acknowledge and agree that neither Auctioneer nor the Seller is in anyway responsible for any such technical problems, and Bidders have no absolute or other right to be able to bid on this sale in the event of any such technical problems. Notwithstanding the foregoing, Bidders further acknowledge and agree that, in the event of any such technical problems, Auctioneer reserves the right to postpone or cancel the sale and/or extend the bidding time for this sale and/or relist the property for sale at another time, in Auctioneer’s sole discretion, and that Auctioneer’s decision with regard to any such actions is and will be final. Bidders must take care in entering bids, and each Bidder will be responsible for all bids placed under the Bidders approved registration. Once entered and recorded online, a bid is deemed to be final on behalf of the registered Bidder and may not be modified, retracted or rescinded in whole or in part. The defaulting successful Bidder will also be subject to lawsuit for damages and/or specific performance in the court of law of which the property is located. Further, all attorneys' fees incurred by the Seller and/or Auctioneer will be due and paid by the defaulting Bidder.
Use the following instructions for domestic wire payments:
Bank Routing, Transit, ABA
Pinnacle Bank 150 3rd Avenue South Nashville, TN 37201
Auction Company Information
Walker Commercial Services, Inc.
101 Albemarle Ave SE Roanoke, VA 24013
Other Wire Information
Purchaser to Seller Comments
Purchaser Name, Item #, and/or Property Description