Geauga Machine Tool
Auction Date: Wednesday, March 4, at
Location: 9988 Kinsman Road, Novelty, Ohio
Inspection: Tuesday, March 3rd 10am - 4pm
Removal: All assets need to be removed by Wednesday March 19, 2020
16% webcast buyers premium & extra 4% for credit cards
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Office: (253) 858-6777 Toll Free: (866) 597-2437
Frequently Asked Questions
TERMS OF SALE
ALL ASSET ARE SUBJECT TO PRIOR
SALES OR DELETIONS
Premier Assets LLC strongly recommends to all bidders to thoroughly inspect all items at the auction on which the bidder intends to bid. Under these Terms and Conditions.
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. IDENTIFICATION - All purchases are required to give full name and addresses at time of registration.
2. DEPOSIT – if required by the auction company. Each buyer will be required to make a deposit in cash or by certified check of 25 percent of Hammer price. In default of such deposit, the lot may be put up again immediately and resold.
3. TIME OF PAYMENT - All invoices must be paid in full by the sales conclusion. Any other arrangements must be made with auctioneer prior to bidding. If not, the merchandise will be deemed abandoned and Buyer will lose any right, title or interest Buyer may have acquired and the merchandise shall revert and repossess to Auctioneer without further notice to Buyer and the transaction shall be null and void as to Buyer.
4. REMOVAL - All purchases must be removed no later than the date specified in the Auction Catalogand/or announced at the sale
time. No assets can, on any account, be removed during the sale. All goods are “As Is Where Is” Removal shall be at the expense, risk and liability of the Buyer. Purchases will be delivered only on presentation of paid bill. Auctioneer shall not be esponsible for goods not removed within the time allowed, but shall have the option to remove and store at the expense and risk of the
Buyer any article purchased, but not paid for and removed within the time aforesaid.
5. SECURITY - Premier Assets LLC Auctions is an auction company. We are not a security company. Premier Assets LLC Auctions makes every effort to protect and secure all items purchase at auction. Once the auctioneer
says sold it is the BUYERS responsibility to remove there items in a quick and timely fashion. We are not responsible for missing or stolen items.
6. MANNER OF PAYMENT - Only cash, wire transfer, bank draft, certified check, credit card (4% surcharge) will be accepted as payment of the Purchase Price. Personal or company checks may be accepted by Premier Assets LLC , at its sole option, on the condition that they must be accompanied by a letter from the Purchaser’s bank unconditionally guaranteeing payment of the Purchase Price in full of items purchased. The full purchase price on all lots sold to the same Buyer must be paid within the time
7. CONDITION OF ARTICLES SOLD - The auctioneer shall not be responsible before removal of any goods. for the correct description, genuineness, authenticity of, or defect in any lot, and makes no warranty in connection therewith. No sale will be set aside nor allowance made on account of any incorrectness, error in commentary, cataloging, or any imperfection not noted. No
deduction allowed on damaged articles, all goods being exposed for public exhibition, are purchased and accepted by Buyer “AS IS, WHERE IS” and “WITH ALL FAULTS”. Auctioneer makes no warranties or guarantees whatsoever whether written, oral or implied as to quality, quantity, condition, usability, salability, weight, measurement, hear model, mechanical condition, performance or other specifications and without recourse.
8. CLAIMS - No Claims will be allowed after removal of goods from premises.
9. RESPONSIBILITY FOR NON-DELIVERY- Auctioneer shall not, in any event, be liable for non-delivery or for any other matter or thing, to any Buyer of any lot, other than for the return to the Buyer of the deposit or sum paid on said lot, should the Buyer be entitled thereto.
10. COMPLIANCE WITH TERMS OF SALE - 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 monies 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 re-sale, will be charged to the defaulting purchaser.
11. RISK TO PERSON AND PROPERTY - Persons attending during exhibition, sale or removal of goods assume all risks of damage of or loss to person and property and specifically release the auctioneer from liability therefor. Neither the auctioneer nor his principal shall be liable by reason of any defect in or condition of the premises on which the sale is held.
12. ADDITION TO OR WITHDRAWAL FROM SALE - The auctioneer reserves the right to alter the order of the sale, withdrawal from the sale any of the property listed or to sell at this sale property not listed, and also reserves the right to group one or more ots into one or more selling lots or to subdivide into two or more selling lots. Whenever the best interest of the Seller will be served, the
Auctioneer reserves the right to sell property listed, in bulk.
13. DISPUTE BETWEEN BIDDERS - If any dispute arises between two or more bidders, the auctioneer may decide the same or put the lot up for sale again at once, or resell to the highest bidder. The Auctioneer may reject a nominal or fractional bid advance if, in his estimation, it proves injurious to the sale. The auctioneer’s decision shall be final and absolute.
14. RESERVE - The auctioneer reserves the right to reject any and all bids. On lots upon which there is a reserve, the auctioneer shall have the right to bid on behalf of the seller.
15. RECORDS - The record of sale kept by the auctioneer and bookkeeper will be taken as final in the event of any dispute.
16. AGENT - The auctioneer is acting as agent only and is not responsible for the acts of its principals.
17. 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.
18. BUYERS PREMIUM - The Auctioneer in its sole discretion may impose a Buyers Premium on any goods sold. The Buyers Premium is a percentage that is added to the final purchase price of any item. 12% onsite, 16% webcast & extra 4% for credit
19. INSURANCE - All buyers, or the buyer’s riggers must provide the auctioneer, owner and landlord a certificate of insurance in amounts acceptable to the above parties prior to removal of any machinery and equipment. 1 Million dollar liability.
20. OTHER TERMS AND CONDITIONS - The auctioneer may modify or supplement these terms and conditions of sale by language in the catalog available at the sale site or by announcement at the start of the sale.