AUCTION TERMS & CONDITIONS

PICK UP LOCATION: 757 Columbia 25, Magnolia, AR  71753

PICK UP DATES: Thursday, May 8^th (immediately following auction until 4pm) and Friday, May 9^th (10am-5pm)

INSPECTION: Thursday, May 1^st (12pm-2pm)

The following, as amended by any posted notices and/or oral announcements during the auction sale, constitutes the entire terms and conditions on which property listed in the auction sale catalogue shall be offered for sale or sold by Stafford Auction & Realty, and any consignor of such property for whom Stafford Auction & Realty acts as agent.  Stafford Auction & Realty strongly recommends to all bidders to thoroughly inspect all items before the auction on which bidder intends to bid.  Under these Terms and Conditions, the term “Bidder” and “Purchaser” shall be used interchangeable and be one of the same.

NOTICE: All Bidders and other persons attending this sale agree that they have read and have full knowledge of these terms and agree to be bound thereby.

1. REGISTRATION: (PLEASE REGISTER EARLY!!!) All bidders must register for the sale by providing current, complete and accurate information. Bidders are required to provide full name of contact person, full name of business, entity, complete address, phone number and email address. Bidders are also required to provide a valid drivers license or state ID number. It is the registrant’s responsibility to ask for clarification of any terms and conditions not clearly understood, Stafford Auction & Realty, at its sole discretion, may deny registration to any person or entity. All bidders and buyers must be 18 years of age or older to participate in this timed online sale.

2. PAYMENT TERMS: For online bidders, payment is due by the end of business the day following the auction (Friday, May 9^th).  Payment may be paid by cash, cashier’s check, or wire transfer. For onsite bidders, payment is due day of auction.
a. All methods of payment shall be made payable to "Stafford Auction & Realty".
b. Wire-transfer instructions will be sent to the winning bidder in their invoice.
c. No purchases may be removed until complete settlement is made with cleared funds. Buyer is responsible for the complete removal of Buyer’s purchase(s).
d. Non-payment bidders will be flagged and reported to collection agency.
e. A 13% Buyer Premium shall be charged for online sales.

3. Bidder acknowledges that an auction site is a potentially dangerous place.  Flammable, noxious, corrosive and pressurized substances may be present, heavy equipment may be in operation, and electric circuits may be live.  Every person at the auction site before, during and after the auction sale, shall be deemed to be there at his/her own risk with notice of the condition of the premises, the activities on the premises, and conduct of third parties; and the bidder shall so advise his/her agents and employees.  No person shall have any claim against Stafford Auction & Realty, its consignors, agents, employees, directors or principals for any injuries sustained or for damages to or loss of personal property, which may occur from any cause whatsoever.

4. A sale to the highest Bidder shall be complete upon the auctioneer’s call, with the highest Bidder purchasing the offered lot, in accordance with all the conditions set forth herein, including Purchaser (a) assuming full risk of loss and responsibility thereof, and (b) making payment in full by close of business on Friday, May 9.  No lot may be removed until the Purchase Price is paid in full for all lots purchased.  To prevent misdelivery and inconvenience in settlement of a purchase, no lot may be transferred prior to removal by the Purchaser.  

5. If the conditions herein or any other applicable condition(s) are not complied with, in addition to other remedies available by law to Stafford Auction & Realty and/or its consignors, including but without limitation, the right to hold the Purchaser liable for the Purchase Price, Stafford Auction & Realty may, at its option, either (a) cancel the sale in part or in full, retaining as liquidated damages all payments made by Purchaser or (b) resell the property, either publicly or privately, after three (3) days notice to the Purchaser and for the account and risk of the Purchaser, and in such event the Purchaser shall be liable to Stafford Auction & Realty for any deficiency if the resale is less than the Purchase Price, plus all costs, including warehousing, the pro-rata share of expenses of both sales including reasonable attorneys fees, Stafford Auction & Realty’s commission, plus all other charges due hereunder and incidental damages suffered by Stafford Auction & Realty or its consignor.

6. Stafford Auction & Realty reserves the right to withdraw any property at any time before actual sale.  Unless otherwise announced by the auctioneer at the time of sale, all bids are per lot as numbered in the catalogue.  Lots may be combined or divided at the auctioneer’s choice.

7. Stafford Auction & Realty reserves the right to reject a bid from any Bidder.  The highest Bidder as acknowledged by the auctioneer shall be the Purchaser.  In the event of any dispute between bidders, or in the event of doubt on the part of Stafford Auction & Realty as to the validity of any bid, the auctioneer shall have the sole discretion either to determine the successful bidder or to re-offer and resell the lot in dispute.  If any dispute arises after the sale, Stafford Auction & Realty’s sales record shall be conclusive in all respects.

8. Purchase of any lot is at the Purchaser’s risk with risk of loss immediately passing to Purchaser upon the auctioneer’s call.  Neither Stafford Auction & Realty, nor its consignors, have any liability of any nature whatsoever to Purchaser if the lot is not delivered to Purchaser due to fire, theft, damage, or any other cause.

9. All lots purchased shall be removed in their entirety from the site at Purchaser’s sole cost and responsibility and by the date as specified in the auction catalogue or as posted or announced at the sale.  No items may be removed before the end of the sale.  Removal shall be at the sole risk and liability of the Purchaser or Purchaser’s agent, and only after Purchaser has provided Stafford Auction & Realty satisfactory proof of insurance by Certificate of Insurance or otherwise.  Purchaser shall fully indemnify Stafford Auction & Realty and its consignors for any loss arising from damage to any person or property caused to any extent by Purchaser’s removal of the lots purchased.

10. Purchaser is solely responsible to secure all safety equipment as may be necessary and prudent to meet all government safety standards in using, operating or removing lots purchased.

11. Absolutely no warranty or representation, written or oral, is given with any lot.  All statements contained in Stafford Auction & Realty’ catalogue, website, marketing material or by the auctioneers, or in any bill of sale, invoice or elsewhere as to description, size, quantity, quality, capacity, model, serial number, measurements or condition, are approximated statements and shall not be deemed to be representations or warranties, oral or written, with respect to any lot.  No sale is invalid or made void by reason of any flaw in a lot or by reason of a lot being incorrectly described, and Stafford Auction & Realty will not be liable and no compensation will be paid for any such fault or error of description.

12. All property is sold “AS IS, WHERE IS”.  Neither Stafford Auction & Realty nor the consignor makes any representation or warranty, oral or written expressed or implied, as to the merchantability, fitness for a particular purpose, condition of the property, correctness of the description, condition, capacity, age or any other details used to describe the property.  Absolutely NO RETURN of sold goods, NO REFUNDS, and NO EXCHANGES will be permitted.

13. ADDITIONAL TERMS AND CONDITIONS: The auctioneer may add other terms and conditions of sale, such additional terms and conditions to be announced prior to the auction.