SECURED PARTY SALE OF PERSONAL PROPERTY TO BE SOLD BY LIVE WEBCAST ONLY
Auction Date & Time: Wednesday, August 26th at 11:00 am ET
• ±300 SEAT RESTAURANT & BAR •
• RESTAURANT, KITCHEN & BAR EQUIPMENT •
• ALL ALCOHOLIC BEVERAGE LICENSE •
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Frequently Asked Questions
ORDER & TERMS OF SALE:
ALL ALCOHOLIC BEVERAGE LICENSE: $10,000.00 DEPOSIT CASH OR CERTIFIED CHECK
15% BUYERS PREMIUM APPLIES.
PERSONAL PROPERTY: 25% DEPOSIT CASH OR CERTIFIED CHECK
15% BUYERS PREMIUM APPLIES.
OTHER TERMS TO BE ANNOUNCED AT TIME OF SALE
In order to bid online we must receive a 25% deposit in a certified or bank check; wire transfer;
or a company/personal check accompanied with a letter of guarantee from your bank prior to the auction.
TERMS OF SALE
- All bidders are required to give full name, address telephone number, and email address.
- Each bidder will be required to give a deposit of 25 percent before being permitted to bid.
- All deposits and final settlements must be made in CASH, CERTIFIED CHECKS or WIRE TRANSFER payable to the order of AARON POSNIK & CO., INC.
- All bills must be paid in full by THURSDAY, AUGUST 27TH.
- Purchases must be removed by TO BE ANNOUNCED.
- In default of timely payment by high bidder by THURSDAY, AUGUST 27TH. Auctioneer will resell the lot by private or public sale, with or without notice to the high bidder, and with deficiency, if any, charges attending resale will be charged to the defaulting high bidder, and with auctioneer’s reasonable attorneys’ fees and interest, added at 12% per year; all to be added thereto.
- CONDITION OF ARTICLES SOLD – all lots shall be paid for by high bidders at its/his/her sole risk sole risk and expense and removed from the auction site within the time announced by the Auctioneer at commencement of the auction sale. The Auctioneer shall not being responsible for the description, condition, merchantability, of fitness any lot. No sale will be set aside nor allowance made on account of any, error in cataloging, description, or any imperfection not noted in the catalogue. No deductions will be allowed on any lots for any reason lots as all lots are available for public exhibition prior to commencement of the auction sale. ALL LOTS ARE BEING SOLD “AS IS” without recourse to seller or auctioneer and with a total disclaimer of both express and implied warranties of both merchantability and fitness. Purchases will be released only upon presentation of receipted bill therefor.
- REMOVAL, EXAMINATION AND PAYMENT – No lot can, on any account, be removed during the sale and the full purchase money on all lots sold to the same buyer must absolutely be paid in good funds as announced above within the time fixed by auctioneer at commencement of the auction sale.
- RESPONSIBILITY FOR NON-DELIVERY – The Auctioneer shall not in any event be liable for non-delivery, or for any other cause to any purchaser of any lot with liquidated damages being limited to Auctioneer’s return to the purchaser the deposit, or sum paid on said lot.
- RISK TO PERSON OR OF PROPERTY – Persons attending during exhibition, sale of and removal of lots assume all risks of damage of, or loss to, persons or property and specifically relieve the Auctioneers from liability therefor.
- ADDITION TO OR WITHDRAWAL FROM SALE – The Auctioneers reserve the right to withdraw from sale any of the lots herein listed, or to sell at this sale additional property not herein listed, and also reserve the right to group one or more lots into one or more selling lots or to subdivide lots into two or more selling lots.
- In case of dispute on knockdown of any lot, the Auctioneer reserves the right to put up the lot for sale again at once, and resell to the highest bidder.
- Auctioneer has sole and exclusive right to: (i) refuse any bid deemed too small; (ii) set minimum increased bidding increments; and (iii) enjoy right to determine, with finality, disputes of any kind between auctioneer and any bidder(s).
- No lots will be delivered during the sale, nor will any claim be considered after a lot leaves the sale premises.
- Not responsible for lots not removed by TO BE ANNOUNCED.
- The record of sale kept by the Auctioneer or its agents will conclusively be taken as final, with no dispute to be honored.
- All bills must be paid to representatives of AARON POSNIK & CO., INC.
- SALES TAX – All sales are subject to state and local taxes, unless a proper exemption certificate including tax exempt number is presented at the time of payment.
- BUYER’S PREMIUM – The Auctioneer in its sole discretion may impose a Buyer’s Premium on any goods sold. The Buyer’s Premium is a percentage that is added to the final bid price of any item and to be added thereto at time of payment. Applicable Buyer’s Premium will be posted on the website.
- TIME OF ESSENCE – Time shall be of the essence in performance where this term is used throughout this announcement
- RECORDATION – Auctioneer advises that its opening announcements at the auction sale, with possible additional recordings thereafter, will be recorded by auctioneer prior to actual commencement of the bidding, and maintained by it for such time thereafter as deemed necessary in auctioneer’s sole and exclusive discretion. By attending the auction sale all parties understand and agree to such recordation.
- BIDDER WAIVERS – All bidders have received a copy of this Terms of Sale and by registering as a bidder, conclusively agree to be bound hereby.
These terms and conditions may be superseded by any additional or contrary Terms and Conditions subsequently announced by auctioneer at the time of the auction.