Preview Auction Lots:
Courtyard by Marriott, Cranbury, South Brunswick
420 Forsgate Dr., Cranbury, NJ, 08512,
Monday May 20th, 12pm-5pm
Tuesday May 21st, 9am-4pm
(Hotel Conference Room)
June 3rd 7.30am-3.30pm
June 4th 7.30am-3.30pm
(Reseller tax certs. to email@example.com)
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Frequently Asked Questions
Plese see above `Important Information` for Preview Location, Dates & Times
Before bidding online at a Solid Asset Solutions LLC (“Auctioneer”) auction, please read and accept these Terms and Conditions of Sale. By signing a registration with Auctioneer, accepting the terms and conditions online and/or bidding at such an auction, you agree that these Terms and Conditions of Sale govern the auction sale and constitute a binding agreement with Auctioneer.
- ALL SALES ARE FINAL. NO EXCEPTIONS. All bids submitted are irrevocable.
- To register and participate in the auction, a $500 refundable deposit may be required.
- Each buyer is required to post and maintain a 25% deposit on all items purchased at auction. This is a nonrefundable deposit and will be forfeited in the event that any buyer fails to close on a purchase. Payments will be accepted only in the form of credit card (up to $7000) and wire transfer. All bidding and invoicing will be in US Dollars ($); the above approved forms of payment must be made in US currency. ALL INVOICES MUST BE PAID WITHIN 48 HOURS OR THE DEPOSIT WILL BE FORFEITED TO AUCTIONEER.
- A premium of 15% of the bid price will be charged to buyers at the live auction site, 18% on internet bidding, and, added to the price of each item purchased. The specific buyer's premium for each sale will be announced at the time of the auction or posted on the website. Taxes are calculated including the buyer's premium.
- The condition of the merchandise being offered at auction varies. Buyer understands and agrees that: (a) any description or sample of the merchandise given or furnished by Auctioneer is solely for identification, and does not create any warranty, expressed or implied, that the merchandise actually conforms to such description or sample; (2) all merchandise is purchased and accepted by Buyer "as is, where is," 'in place" and "with all faults, known and unknown." Auctioneer makes no warranties or guaranties whatsoever whether written, oral or implied as to quality, quantity, condition, FITNESS FOR A PARTICULAR PURPOSE OR MERCHANTABILITY. Manufacturers’ warranties may be in effect. No sale shall be invalidated, and auctioneer shall have no liability for any mistaken description of any article or lot in a catalogue, advertisement or otherwise. Descriptions have been prepared for guide purposes only and shall not be relied upon by Buyer for accuracy or completeness. Auctioneer recommends that bidders inspect items before bidding. By submitting a bid, each bidder affirms it has inspected all items or has waived its right to do so prior to bidding. Buyers shall be deemed to have relied entirely upon their own inspections and investigations.
- All articles will be sold to the highest bidder. Auctioneer reserves the right to sell articles by individual group lots or in bulk as it deems appropriate in its discretion. Auctioneer reserves the right to group, reduce, add to or delete lots. Auctioneer reserves the right to sell on behalf of third parties, its own account or on the account of others. In the event there is a dispute between two or more claims of entitlement as the successful bidder, Auctioneer reserves the right to re-auction the item in dispute. Auctioneer shall regulate all matters relating to the conduct of the auction and its decision shall be final and binding on all bidders. Auctioneer shall be entitled to make changes in the composition of the lots or to withdraw them, up until the last moment before the sale, refuse bids without having to state the reasons, in which case the previous bidders shall be bound to their bids, and to correct himself. All sales shall be concluded on the fall of the hammer or as indicated by Auctioneer and no Buyer may thereafter revoke its bid.
- Auctioneer reserves the right to sell subject to reserve and to purchase for its own account or of others, whether by verbal or written proxy, all subject to prior sale.
- Buyers will be charged all applicable taxes unless satisfactory proof of exemption is provided to Auctioneer prior to any removal of items purchased. If satisfactory proof of exemption is not provided, Buyer will pay all applicable taxes to Auctioneer. No taxes collected will be refunded once the purchases have left the site. Proof of exemption is subject to approval by Auctioneer in its discretion and may include a valid reseller’s permit, a state issued letter of exemption, and a bill of lading provided by a common carrier for out of state shipments. Taxes shall be calculated after inclusion of the buyer's premium.
- Any specific announcements made on the day of the auction take precedence over general terms and conditions or those previously announced or documented in a catalogue or otherwise. Auctioneer reserves the right to correct any mistakes or typographical errors made by itself or on its behalf in any of its announcements or documents.
- No checkout will be permitted during the auction sale. All invoices must be paid in full before merchandise will be released from the premises. Unless Auctioneer determines otherwise at its sole discretion, checkout will begin on the day following the auction sale. Quantities must be checked before removal of purchases. No allowances will be made for claims or shortages once items are removed from the Auction premises. Where available, documents of transfer, including motor vehicle ownership documents, will be provided within seven days following the auction or as soon thereafter as such documents are available. Auctioneer makes no warranties that such documents will be available. Any available titles shall not pass to the Buyer until full payment is received.
- All property must be paid for and picked up in the time frames announced by Auctioneer at time of sale. If not, the merchandise will be deemed abandoned, Buyer will lose any right, title or interest Buyer may have acquired, the merchandise shall revert and repossess to Auctioneer without further notice to Buyer and Buyer's deposit will be forfeited. No purchaser may assign, transfer, or dispose of its rights in any article purchased before it has paid the purchase price in full. No reselling will be allowed from the premises.
10. If any applicable conditions are not complied with by Buyer, then, in addition to any other remedies available to Auctioneer, Auctioneer may, at its option, (a) hold Buyer liable for the total purchase price, (b) cancel the sale, retaining all payments made by Buyer, including any deposit made, as liquidated damages and/or (c) resell the merchandise at public auction in which event Buyer will be liable for the cost of removing and reselling the abandoned merchandise, for any deficiency between Buyer's original purchase price and the subsequent resale price, Auctioneer's commission, interest of 1.5% per month, legal fees, moving and storage fees of no less than $2.00 per square foot per month, and all other expenses related to the disposal or reselling of the abandoned property. In addition, Auctioneer may retain any merchandise purchased at auction by a defaulting Buyer as collateral security for Buyer's obligations to Auctioneer.
11. Buyer is solely responsible to provide any personnel, equipment or material needed to pick up purchases and shall assume all responsibility for the removal of any item of property purchased at the sale and any and all risks associated with such removal including, without limitations, the responsibility for providing LICENSED AND BONDED professionals to ensure proper water, gas and/or power disconnection, disassembly, removal and loading, and full financial responsibility for any damage or liability to persons or property resulting from any negligent act or omission of Buyer or Buyer's employees, agents and/or representatives during pick-up and removal.
12. Buyer agrees that in the event purchased merchandise contains any environmental hazards, toxic waste or other type of hazardous material in any form whatsoever, Buyer shall provide evidence that Buyer or its representatives are licensed for such removal and shall comply with all applicable local, state and/or federal rules, laws and regulations. Auctioneer, its agents and its representatives will not be responsible for containment, storage or removal of such material.
13. Persons in attendance during inspection, sale or removal of merchandise assume all risks of damage or loss to persons, property, or merchandise, shall exercise proper precautions at all times for the protection of persons and property, and shall comply with all safety and health requirements as directed by Auctioneer and all local, state and federal regulations. Auctioneer, its agents, its employees and representatives shall not be liable by reason of any defect in or about the condition of the premises on which the auction is held and each bidder specifically releases Auctioneer, its agents and representatives from all liability thereof.
14. All risk of loss shall pass to a buyer at the time its bid is accepted, and each successful bidder is responsible to insure items purchased immediately. If Auctioneer is unable to deliver an article sold to Buyer due to fire, theft, or any other reasons whatsoever occurring prior to the auction, Auctioneer shall reimburse Buyer for all monies paid to Auctioneer in respect of such article and Auctioneer shall have no further liability to the such buyer arising from or relating to such loss, including without limitation any damages for loss of profits.
15. In no event shall Auctioneer's liability to a buyer exceed the purchase price actually paid. A Buyer's claim shall be limited to the amount paid for the merchandise, and shall not extend to any obligation, risk, liability, claim, or remedy for loss of use, revenue or profit, any liability of such buyer to any third party, personal injury, or any other direct, indirect, incidental or consequential damages. Auctioneer is acting as an agent only and is not responsible for the acts of its principals.
16. Buyer agrees to indemnify, defend and hold harmless Auctioneer and its agents and representatives, from any and all demands, claims, losses, damages and liabilities (including attorneys' fees) asserted against, resulting to or imposed upon Auctioneer resulting from the negligence of Buyer or its employees, agents and representatives, while in, at or about the auction premises during inspection, sale or removal of merchandise.
17. Auctioneer shall have the right to make image and audio video recordings of the auction, to use said recordings at its own discretion, and to make such recordings public. Participants give their permission to same by participating in the auction.
18. The bidder's paddle is nontransferable. All bids made by the holder of the paddle will be Buyer's responsibility. A successful bid at auction constitutes a legally binding contract of sale. Auctioneer reserves the right to refuse any applicant the privilege of bidding or attending an auction and may revoke such privilege of bidding or attending the auction at any time.
19. This sales transaction shall be governed by and construed in accordance with the local laws of the State of Illinois, USA. If any provision of these Terms and Conditions shall be held invalid, illegal, unenforceable or inoperative, the balance of Terms and Conditions shall remain in full force and affect as if such provisions had not been included. These Terms and Conditions with any amendments or modifications expressly made by Auctioneer at the time of the auction constitute all the terms and conditions with respect to the sale of articles at this auction. There are no representations, warranties, terms, conditions, undertakings or collateral agreements except as herein provided.
20. All Buyers acknowledge and accept by their signature the Terms and Conditions of Sale included herein.