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Auction Bidder Agreement – Marine Steel Painting Webcast December 10, 2014

Bidder and Auctioneer agree that the Terms and Conditions listed below shall govern this Webcast Auction sale:

1. All persons seeking to register to bid must present a valid credit card to register online or onsite.  In addition, Auctioneer reserves the right to verify the validity of all cashier's checks or certified funds drawn from lending institutions.  OTHER TERMS AND CONDITIONS MAY APPLY VIA BIDSPOTTER.

2. The "Bidder" becomes a "Buyer" upon the closing of the lot and the Auctioneers acceptance of their bid on one or more items in the Auction sale.

3. FULL PAYMENT must be made immediately for your purchase at the Auction.  Following the Auction you will receive an invoice on site or via email for webcast bidders that will detail your winning bids.  Your payment should be made in the form of:  Cash, credit card (Visa/MC up to $5,000), company check with bank letter of guarantee, cashier’s or certified check or wire transfer (see wire instructions on invoice).  We do not automatically charge webcast bidders credit cards and payment must be arranged personally.  Webcast bidders please contact Auctioneer for details upon receipt of your invoice.

4.    Items left unpaid for more than 48 hours will be resold at the risk and expense of the Buyer.   In the event that a Buyer fails to pay the entire purchase price (in addition to the Buyer's premium and any applicable tax) within 48 hours or otherwise fails to comply with these Terms and Conditions, Auctioneer and the Seller will retain any deposit paid as liquidated damages without notice.  Auctioneer and the Seller reserve the right to resell such items without notice, and the defaulting Buyer shall be liable to Auctioneer and Seller for any resulting deficiency, including costs incurred in storing and reselling such items.

5.   Auctioneer shall charge and collect from each Buyer a Buyer's premium of 15% for each sale at the Auction, in addition to the purchase price as bid.   Buyers that utilize our Webcast service shall be charged a buyer’s premium of 18% for each sale at the Auction, in addition to the purchaser price.  Buyers that pay by credit card will be charged a 3% convenience/credit card fee in addition to any buyers premiums so noted.

6.   All items in the Auction shall be sold to the highest bidder; provided, however, that some items may be auctioned with minimum reserve prices, and/or subject to Seller's right of confirmation. Auctioneer reserves the right to reject any bid that is only a minimal increase over the preceding bid, that is not commensurate with the value of the item being offered or that Auctioneer believes was made illegally or in bad faith. Further, Auctioneer may bid at the Auction either for its own account or on behalf of the Seller or a third party.  All sales are final.  No returns or refunds will be permitted for any reason whatsoever.

7.    Collection of applicable taxes will be in accordance with the laws of New York State, Erie County (8.75%).  Auctioneer reserves the right to charge and collect tax on all purchases, shifting the burden of determining any 'tax exempt' status to the purchaser (if applicable).  In such case tax refunds will be issued by the respective state.  Some items in this sale may be subject to U.S. export control regulations.

8.    For any purchase paid in cash with a value of $10,000 or greater, Buyer is required to complete US Treasury Dept. form #8300 at the time of purchase.

9.   Removal and shipment of purchased items will be the sole responsibility of the Buyer.  NO MATERIAL HANDLING EQUIPMENT OR TOOLS WILL BE MADE AVAILABLE BY THE SELLER OR AUCTIONEER FOR BUYERS' USE DURING ITEM REMOVAL.  All Buyers and/or their agent riggers MUST comply with all insurance requirements as noted in the downloadable PDF Auction catalog.  Removal dates are December 11-18 from 8:00 am – 4:00 pm each day (excluding Sunday).  Additional charges will apply to any buyer that holds over or requests additional time to remove their purchases.

10.  The Buyer becomes fully responsible for, and assumes all risk of loss and damage to items purchased until items are removed from the Auction site whether or not the removal deadline has passed.  If the Buyer does not remove an item within the announced removal period, Auctioneer and the Seller may, in their sole discretion, deem the item to have been abandoned by the Buyer and the Buyer will have no further rights with respect to the item.

11.  In the event of any dispute concerning the winning bid price for an item, the record kept by Auctioneer shall control.  In any dispute between two or more bidders, the Auctioneers decision shall be absolute and final.

12.  ALL ITEMS ARE SOLD AS IS, WHERE IS AND WITH ALL FAULTS.  NEITHER SELLER NOR AUCTIONEER MAKES ANY WARRANTY, EXPRESS OR IMPLIED, AS TO THE NATURE, QUALITY, VALUE OR CONDITION OF ANY ITEM.  AUCTIONEER AND SELLER EXPRESSLY DISCLAIM ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT.

13. No sale shall be invalidated by reason of any defect or inaccuracy in any description or listing, and no liability shall be borne by the Auctioneer with respect to such errors.  All information has been obtained from sources generally believed to be reliable, but the accuracy cannot be guaranteed or warranted by the Auctioneer.  Bidder acknowledges it is their responsibility to inspect all items and to make their own inquires.

14.  The aggregate respective liability of Seller or Auctioneer in respect of any other loss or damage suffered by a Buyer and arising out of or in connection with these Terms and Conditions or arising out of or in any way connected with a Buyer's participation in the Auction, whether in contract, tort (including negligence) or for breach of statutory duty or in any other way, shall not exceed (i) in the case of the Seller, the amount of the purchase price paid by the Buyer; and (ii) in the case of the Auctioneer, the Buyer's premium paid by the Buyer, in each case in respect of the goods which are the subject of the claim.

15. Computers, drives and other electronic equipment may contain copy written software that is governed by a license agreement issued to a third party.  In such event the Buyer acknowledges that said software and license agreement(s) are not included in their purchase(s).  Buyer guarantees the destruction of any personally identifiable information that may be stored on such devices, and shall indemnify and hold harmless the Auction Company and their Seller from any claims, suits or other actions brought against them that relates in any way to personally identifiable information or any other data that remains on such devices, latent or obvious.

16.  Buyers acknowledge that an Auction site or the Seller's site is a potentially dangerous place.  Flammable, noxious, corrosive and pressurized substances may be present.  Heavy equipment may be operated, and electrical circuits may be live.  Every person enters such site at his or her own risk with notice of the condition of the premises and the activities that will be or have been conducted on the premises.  Buyers shall so advise their agents and employees.  No person shall have any claim against Auctioneer, the Seller or their respective agents or employees for any injuries sustained or for damages to or loss of person or property that may occur at such site.

17. These Terms and Conditions are incorporated and merged with any sale specific Terms and Conditions that may be distributed via our online bidding site and or at the physical auction location. Terms and Conditions for webcast auction of  Marine Steel Painting R2.