1972 Honda CL100 Suitcase Cycle w/Chrome Fenders, Blue Tank, Vin#: CL100-1220230, Odom: 5,942

Auction: OCTOBER 26, 2019 CLASSIC CAR AUCTION. 144 CENTRE ST., HOLBROOK, MA

 Bank Letter of Guaranty - Checks for vehicle purchase(s) must be drawn from the account that appears on the Bank Letter of Guaranty in U.S. funds. Cashiers will NOT accept checks written against funds from another bank or investment account. A bank statement or verification of deposit will NOT be accepted as a letter of guaranty.

TERMS AND CONDITIONS OF SALE

This Bidder Agreement (“Agreement”) is made between Paul E. Saperstein Company Inc., (“PESCO”) and the buyer.

1. LIMITATIONS AND DISCLAIMERS

1) Each Lot is consigned to PESCO by a seller with a Consignment Agreement (“Seller”) and each Lot is sold “AS-IS-WHERE-IS”, with all faults, defects and all errors of description. Buyer understands the following:

• Any and all information concerning any Lot is provided by Seller
• PESCO does not make any representations, warranties or express any opinions of its own concerning any Lot
• PESCO does not examine any component of any Lot, research the title documents or the history/origin of the Lot. PESCO does not verify any information provided by Seller for the benefit of Buyer or anyone else. Buyer acknowledges that PESCO’s only duty toward Buyer is to transfer the Lot to Buyer “AS-IS-WHERE IS”, upon full performance by Buyer under this Agreement.
• Buyer hereby waives and releases PESCO from and against any claim, demand, liability, or expense of any kind arising out of or related to the Lot, expressly including without limitation any assertions of negligence (including negligent misrepresentation), breach of contract or breach of warranty. Buyer agrees not to join PESCO as a defendant in any action or proceeding arising directly or indirectly out of the condition of the Lot or any alleged representations concerning the Lot, and further agrees to look solely to Seller with respect to such matters. If Buyer fails to comply with this provision, Buyer agrees to reimburse PESCO for all costs, expenses and fees, including attorney fees, in defense of such claims.

2) PESCO expressly disclaims all warranties, express or implied, concerning the Lot, including warranties of merchantability or fitness for any particular purpose. Buyer represents that the amount bid for any Lot is based solely on Buyer’s own independent inspection and evaluation of that Lot.

• Buyer has undertaken to make his own examination of any Lot before bidding; and
• assumes all risk of any nonconformities in any Lot. Buyer further acknowledges that he has not relied upon any assumptions regarding PESCO’s knowledge concerning the Lot or the Seller, or upon any oral or written representations by PESCO, including without limitation any representations as to condition, year or age, serial or identification number, make, model, mileage, equipment, genuineness or authenticity, originality, previous use or ownership, manufacturing or restoration processes of any Lot or any component of any Lot.

3) All Statements contained in any catalogs or advertisements of any type pertaining to the sale, including without limitation any statements concerning condition, genuineness or authenticity, origin or provenance, previous use or ownership, manufacturing or restoration processes, year or age, serial number, make, model or mileage of any Lot or of any component of any Lot, are provided by the Seller, not PESCO, and are either expressions of opinion or are for ease of identification only, and they are not to be relied upon by Buyer as representations of fact. Buyer assumes all risks associated with any nonconformity of any Lot or any component of any Lot. As a condition of participation in the auction, Buyer represents that he will conduct any inspections and examination necessary to satisfy himself of all material facts before making any bid. For vehicles with a Reserve, the auctioneer reserves the right to place bids for the consignor up to the reserve amount.

4) Neither PESCO nor any agent, employee or representative of PESCO has given or authorized any other person to give any oral or written affirmation, representation, warranty or guarantee concerning any Lot. PESCO assumes no liability for any affirmations, representations, warranties or guarantees made by Seller to Buyer.

COMMISSIONS AND FEES

1)  A BUYER’S PREMIUM OF 16% OF FINAL BID PRICE IS PAYABLE FOR ALL VEHICLE LOTS. A 3% discount will be given for all onsite purchases and an additional 3% Buyer understands and agrees that he must pay the sum equal to 10% for any vehicle Lot purchased successfully as a deposit at this auction at time of bid, that this fee will be automatically included in the final settlement figure, and that BUYER will be subject to applicable taxes and license fees.

2) Buyer understands and agrees that a ____ penalty will be added to the Buyer's premium if Buyer leaves the auction venue without settling his final account. Sales tax, if applicable, will be charged on the final total of hammer price plus premium.

PAYMENT

1)     Buyer agrees to pay for all Lots on the day of sale in U.S. currency, credit card, certified check or cashier’s check. Personal checks may be accepted, at PESCO’s sole discretion, but only if accompanied by irrevocable bank letter of guaranty

2)     Should Buyer default upon the purchase for any reason, Buyer agrees to pay PESCO the full sum of both the Buyer’s premium and Seller’s commission. This sum is due and payable without relief. Buyer also agrees to pay any court cost, attorney fees, storage, or other related cost or expense of any kind or nature whatsoever incurred by Seller or PESCO as a result of Buyer’s default. This provision is in addition to and in no way supersedes or replaces Buyer’s financial responsibility regarding such purchase.

PASSING OF TITLE / REMOVAL

1)  Upon the fall of the Auctioneer’s hammer, title of the offered Lot will pass to the highest Bidder acknowledged by the Auctioneer, subject to the conditions set forth herein, and at such time Buyer

• assumes full risk and responsibility for the Lot and neither PESCO nor its agents shall be responsible for the loss of, or any damage to, any article due to theft, fire, breakage or any cause whatsoever;
• will sign the contract of sale confirming purchase of the Lot and any related purchase documents;
• will pay the full purchase price plus applicable commission;
• will ensure the purchased vehicle complies with any emissions testing requirements in the applicable jurisdiction; and
• warrants and agrees that BUYER will perform the necessary steps to document the transfer of title in accordance with applicable state law within 30 days of receipt of transfer documentation from PESCO.

2) Buyer must remove all property from PESCO’s premises not later than ________ following the sale, unless otherwise specifically instructed in writing by PESCO. If any Lot is not removed, BUYER HEREBY WAIVES ALL REQUIREMENTS OF NOTICE, ADVERTISEMENT AND DISPOSITION OF PROCEEDS REQUIRED BY LAW, AND RELEASES PESCO FROM ANY LIABILITY WHATSOEVER IN CONNECTION WITH SUCH DISPOSAL. If any vehicle is not removed by a purchaser prior to this time, PESCO shall have the vehicle removed and purchaser shall be responsible for any and all towing, storage and labor charges related to clearing the vehicle from the premises.

3)  Lots, titles and/or bills of sale will only be released in the case of cash purchases. In all other cases release will be made only after payment has cleared PESCO’s bank account. The title and/or bill of sale will be delivered to Buyer at the time settlement is made with Seller (typically within 21 business days from the date of sale).

4) Prior to driving any vehicles purchased at auction, Buyer agrees to check or inspect any safety or driving components or mechanisms of such vehicles.

5) Buyer acknowledges the final vehicle description may vary from previous printed catalog or online description and the final vehicle description announced on the auction block and contained in the car card supersedes any such previous vehicle description

This Agreement and related Contract of Sale contain the entire agreement between Buyer and PESCO pertaining to the subject matter described herein. Any terms proposed by Buyer orally or in writing which add to, vary from or conflict with this Agreement shall be void, and the Agreement shall constitute the complete and exclusive statement of the agreement between the parties and may be modified only by written instrument executed by the authorized representatives of both Buyer and PESCO and which expressly modifies the Agreement.

ASSIGNMENT

This Agreement, and any and all rights, obligations, claims or causes of action arising from it or its subject matter, may not be assigned to or acquired by any other person or entity without PESCO’s prior written authorization.

SEVERABILITY

If any provision of this Agreement is held to be illegal, invalid, or unenforceable under any present or future law: (i) such provision will be fully severable; (ii) this Agreement will be construed and enforced as if such illegal, invalid, or unenforceable provision had never comprised a part of this agreement; (iii) the remaining provisions of this Agreement will remain in full force and effect and will not be affected by the illegal, invalid, or unenforceable provision or by its severance from this Agreement; and (iv) in lieu of such illegal, invalid, or unenforceable provision, there will be added automatically as part of this Agreement a legal, valid, and enforceable provision as similar in terms to such illegal, invalid, or unenforceable provision as may be possible and this Agreement shall be deemed reformed accordingly.

Terms:  Cash, credit card, certified or bank letter guaranteeing check. 25% deposit on all purchases.  8% admin fee with a 4% discount for cash and certified funds.

We have not tested any of the equipment.  It has been made available for multiple inspection days and by appointment.  All goods are being sold on an "as-is, where-is" basis and making no guarantees or warranties as to the condition of any item. Some items are marked for parts only and we have reflected that on your catalog.  Buyers are strongly urged to inspect all items before bidding. All goods are sold "as-is" and without recourse. <p>

Auctioneer reserves the right to reject any and all bids. <p>

Sales tax will be charged and collected on all purchases unless the clerk is furnished with acceptable proof of exemption. <p>

All potential online buyers must register at www.bidspotter.com prior to the auction and may be required to provide additional information to satisfy auctioneer.  Paul Saperstein Company may, in its sole discretion, deny registration to any person or entity. <p>

Auctioneer reserves the right to withdraw any of the items advertised to be sold, to sell items not listed, to group two or more lots into one lot number or to subdivide one lot into two or more lot numbers. Auctioneer reserves the right to offer all lot numbers in the entirety. <p>

No article shall be removed unless it is paid for in full. All articles purchased shall be removed within the time period made by the auctioneer during announcements prior to the sale. Each buyer is responsible for removing his/her items won at the auction. This means you should arrange for a shipper, hire your own help and bring your own handling equipment. Auctioneer will not, in any event, be liable for non-removal of items by the purchaser. <p>

Winning bidders can request a printed paper invoice from the bookkeeper at the sale location during or after the sale.  At the conclusion of the sale, online bidders will be sent an electronic invoice to the email address provided during registration. Invoices can be faxed upon request. Detailed payment instructions for each sale are available in the terms section on the website and on the front page of your catalog.  Online bidders will be sent payment instructions via email along with their invoice.  They will be responsible for same deposit requirements as onsite bidders. <p>

Auctioneer reserves the right to withdraw any of the items advertised to be sold, to sell items not listed, to group two or more lots into one lot number or to subdivide one lot into two or more lot numbers.   Additionally, Auctioneer reserves the right to offer all lot numbers in the entirety. <p>

We have posted contact information for local shippers, but they are in no way affiliated with the Paul E. Saperstein Company. Additionally, the buyer is liable for any damages caused during the inspection or removal process. <p>

No article shall be removed unless it is paid for in full.  No items are to be removed during the auction sale unless otherwise permitted by a representative of the Paul E. Saperstein Company.  All articles purchased shall be removed within the time period made by the auctioneer during announcements prior to the sale.  Each buyer is responsible for removing his/her items won at the auction.  This means you should arrange for a shipper, hire your own help and bring your own handling equipment.  Auctioneer will not, in any event, be liable for non-removal of items by the purchaser.   If items are left at the auction site beyond the last day given for removal, the items shall be deemed as abandoned.  Seller shall have no further obligation to the buyer for these abandoned items. <p>

Our catalogs are prepared for informational purposes only. We do not guarantee or warrantee any of the information provided to you. We strongly encourage all bidders to inspect items prior to the sale. <p>

All potential online buyers must register at www.bidspotter.com prior to the auction and may be required to provide additional information to satisfy auctioneer. Paul Saperstein Company may, in its sole discretion, deny registration to any person or entity. <p>

In default of payment of bills in full within the time therein specified, the auctioneer in addition to all other remedies allowed by law, may retain all money received as deposit or otherwise, as liquidated damages.  Lots not paid for and removed within the time allowed herein may be resold at public or private sale without further notice, and any deficiency, together with all expenses and charges of resale including legal fees, will be charged to the defaulting purchaser. <p>

BIDDING STARTS AT THE NOMINAL OPENING BID INDICATED BY THE AUCTIONEER FROM THE AUCTION BLOCK AND IS OPEN TO ALL REGISTERED AND APPROVED BIDDERS.  AUCTIONEER SHALL HAVE THE RIGHT TO SET BID INCREMENTS, ACCEPT OR REJECT ANY AND ALL BIDS DURING THE PROCESS.  BY REGISTERING FOR THE AUCTION, YOU ACKNOWLEDGE HAVING READ, AGREED TO, AND ACCEPTED THESE TERMS & CONDITIONS, AS MAY BE UPDATED FROM TIME TO TIME PRIOR TO OR DURING THE AUCTION. YOU ARE ENTERING INTO A BINDING CONTRACT. THERE ARE NO REFUNDS OR BID CANCELLATIONS. THE REGISTERED BIDDER IS PERSONALLY RESPONSIBLE, LEGALLY AND FINANCIALLY FOR ALL AUCTION ITEMS BID UPON WHETHER REPRESENTING HIMSELF/HERSELF OR ACTING AS AN AGENT.  ANY BID ACCEPTED ONLINE OR AT PUBLIC AUCTION IS A LEGAL AND BINDING CONTRACT TO PURCHASE.

ANY BIDDER WHO FAILS TO CONSUMMATE A PURCHASE WILL BE BANNED FROM BIDDING AT ALL FUTURE SELLER AUCTION EVENTS AND MAY BE PURSUED FOR CIVIL AND/OR CRIMINAL VIOLATIONS. YOU ACKNOWLEDGE THAT ACCEPTANCE BY ELECTRONIC MEANS IS BINDING AND ENFORCEABLE PURSUANT TO THE ELECTRONIC SIGNATURES IN GLOBAL TRANSACTIONS ACT (“UETA”) AND APPLICABLE STATE LAWS.