2014 Hwacheon Hitech 850L CNC LATHE

Assets of DNS Tool Cutter Grinding, LLC

***DO NOT WAIT UNTIL THE LAST MINUTE TO REGISTER*** 

Approval may take 24 hours or longer! 

Please read complete terms and conditions carefully. 

LOCATION: 12029 Denton Dr, Dallas TX 75234

Preview: May 8, 2023 9am-3pm

RIGGERS: 

Removal:

All Items MUST Be Removed by: May 17, 2023 by 3pm

Removal Dates: May 10-12th & May 15-17th 8am-3pm

No Holidays or weekends. 

The Auction Company DOES NOT Load or Ship Any Items.Buyer is responsible to arrange the entire shipment from Trucking, Rigging and Loading of their purchase(s). 

Please Provide all Registration Requirements to be Approved for Bidding. 

All Internet purchases must be paid within 48 hrs from auction end.

To be approved to Bid you must provide ONE of the following:

1. Credit / Debit Card Deposits: This auction will automatically require & make a credit or debit card deposit. * US Buyers: Your credit / debit card added through the Bidspotter.com fully secure and PCI compliant registration process will be assessed a $2,500.00 deposit in order to be approved to bid within the auction. * NON US Buyers: Your credit / debit card added through the Bidspotter.com fully secure and PCI compliant registration process will be assessed a $5,000.00 deposit in order to be approved to bid within the auction. You will not be approved without your credit card entered at the stage of registration.  This deposit is fully refundable if no purchase is made and will be refunded within 3-5 business after the auction day.  If a purchase is made your deposit will be refunded upon receipt of your full payment by wire transfer or certified funds.

2. A bank letter of guarantee from your bank signed by an authorized officer 

of the bank and must be on bank letterhead see the sample letter in #2 below 

for more details). 

3. Send a deposit to the auction company by wire transfer or certified funds 

and it must arrive no later than 24 hours prior to auction start time. 

Deposit Info: 

US Bidders must post a 25% deposit of approximate planned spending budget 

or a minimum of $2,500.00.

US EX: Want released to spend $75,000.00 - Deposit must be at least 

$18,750.00.

International (non US) Bidders deposit amount must be 100% of the amount 

you expect to spend.

International EX: Want released to spend $75,000.00 - Deposit must be 

$75,000.00. 

Minimum Deposit Accepted from International Bidders is $2,500.00.

**If you wish to send your deposit via wire transfer please notify us by email 

and wire transfer instructions will be emailed to you.

WE DO NOT ACCEPT CREDIT CARDS OR PAYPAL PAYMENTS!

PLEASE READ ALL TERMS & CONDITIONS!

* NOTICE: If your payment is not received within 72 hours after auction ends, your credit card will be charged for the full balance of your invoice, plus an additional processing fee will apply. 

1. NO WARRANTIES - Everything in this auction is sold as is, where is, with 

no warranties, representation or guarantees expressed, implied or otherwise.

2. PAYMENT - Balance of full payment in cash or certified funds due 

immediately upon completion of the auction. All checks to be made to the order 

Investment Recovery Services. Advance wire transfers are possible. Contact 

Investment Recovery Services at 800-583-1111 for details. Non-certified 

checks accepted only when accompanied by a valid bank guarantee letter. 

SAMPLE LETTER: 

THIS BANK HEREBY GUARANTEES PAYMENT OF CHECKS PAYABLE TO 

INVESTMENT RECOVERY SERVICES, FROM (NAME OF CUSTOMER) ON ACCOUNT 

#____ UP TO AMOUNT OF ____. THIS LETTER IS 

VALID FOR PURCHASES MADE AT THE AUCTION 

OF ____ ON ____(DATE). 

(PLEASE HAVE YOUR BANK USE THIS FORMAT FOR THE GUARANTEE LETTER) 

Fax all letters to (817) 834-4075 or email to trevor@irsauction.com

* NOTICE: If your payment is not received within 72 hours after the auction ends, your credit card will be charged for the full balance of your invoice, plus an additional processing fee will apply. 

3. SALES TAX - Sales tax will be charged and collected on all purchases as 

required by appropriate state/local laws. Sales tax exemption number, where 

applicable, must be presented at the time of bidder registration. To qualify for 

any available exemption, Buyer must sign any required form. 

4. ADDITION TO OR WITHDRAWAL FROM SALE - The Auctioneer reserves 

the right to withdraw from sale any of the items, to sell at this auction items 

not listed, to group one or more lots into one or more selling lots or to 

subdivide into two or more selling lots. The Auctioneer also reserves the right 

to sell all of the items listed in bulk.

5. DISPUTE BETWEEN BIDDERS If there is any dispute between two or more 

bidders, the Auctioneer may decide the sale or may resell by immediately 

putting the lots up for sale again. The decision of the Auctioneer shall be final 

and absolute. 

6. CONDITIONS OF ITEMS SOLD - All information is believed to be accurate, 

but the Auctioneer shall not be responsible for the correct description, 

authenticity, genuineness of or defect in any lot, and makes no warranty in 

connection therewith. No allowances will be made or sale set aside on account 

of any incorrectness, error in cataloging or any imperfection not noted. No 

deduction will be allowed on damaged articles as all goods being exposed for 

public exhibition are sold "as is, where is" and without recourse.

7. BIDS - Absentee bids may be presented to the Auctioneer in writing and 

must be accompanied by 25% of your bid in certified funds with full payment 

due one day after notification of your successful bid. Said bids are subject to 

all terms and conditions of sale as listed herein or announced at the auction 

sale. All absentee bids will be held in confidence. Auctioneer may have a 

principal interest in this sale. Seller reserves the right to bid at this auction. 

(NOT APPLICABLE TO INTERNET BIDDING)

8. COMPLIANCE WITH THE TERMS OF SALE - In default of payment of bills 

in full within the time announced for this auction 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 within the time 

specified herein may be resold at public or private sale without further notice. 

Any resulting deficiency together with all expenses and costs of re-sale will 

be the responsibility of the defaulting purchaser. Each Buyer in making a bid 

does herewith agree to comply with the terms and conditions as herein stated 

and as otherwise set forth. The failure or default by a successful Buyer to fully 

comply with the terms and conditions herein will be treated as an immediate 

breach and the deposit as made retained and applied toward any deficit in 

additional costs or charges as incurred o effect the resale of that property at 

private or public sale. There shall be no further notice required to the Buyer 

once a default has occurred. The obligation of the Buyer shall be for costs as 

incurred, plus any deficit included arising from the Buyers default.

9. AUCTIONEER - The Auctioneer when acting as Agent is not responsible 

for the actions of its Principals. 

10. OWNERSHIP - All items become the sole responsibility of the purchaser 

immediately at knockdown. Although the Auctioneer will exhibit reasonable 

care to safeguard purchases, until removed by purchaser, no refunds or 

adjustments will be allowed for any shortages. 

11. REMOVAL - Removal shall be at the expense, liability and risk of the 

purchaser. Purchases can be removed only on presentation of original bill of 

sale and only after the entire sale is completed. It will be required to sign a Bill 

of Sale before Purchases are Removed. Photostats of bills of sale will not be 

accepted for removal. Upon failure of purchaser to remove goods within time 

specified as posted or announced, Auctioneer shall have the option of 

removing and storing the goods at expense and risk of the purchaser or 

deeming money deposit forfeited in which case Auctioneer may resell without 

notice at public sale or otherwise dispose of goods at risk and expense of 

purchaser. Purchaser shall remain liable for loss, expense and damages 

arising from the purchaser's default.

12. ABANDONMENT - Purchasers will not be allowed to abandon any 

purchases or portion of those purchases. 

13. NON-DELIVERY RESPONSIBILITY - Auctioneer shall not, in any event, be 

liable for non-removal or for any other matter, to any purchaser of any items.

14. PERSONAL AND PROPERTY RISK - Persons attending during exhibition, 

sale or removal of goods assume all risks of damage of or loss to person and 

property and specifically release and indemnify the Auctioneer from liability 

therefore. Neither the Auctioneer nor his Principal or Seller shall be liable by 

reason of any defect in or condition of the premises in which the sale is held.

15. BUYERS PREMIUM - 18% Buyers premium applies to all purchases in the 

amount stated above.

16. RECORDS - The record of sale kept by the Auctioneer and Bookkeeper 

will be taken as final in the event of any dispute. 

17. NOMINAL BIDS - Any bid which is merely a nominal or fractional advance 

may be rejected by the Auctioneer if in his judgment it may affect the sale 

negatively. 

18. THE BUYER does hereby assume and does agree to indemnify and hold 

the Auctioneer and Seller harmless from any future claim, which shall pertain 

to the fitness or use of that asset as being purchased.

19. ADDITIONAL TERMS AND CONDITIONS - Additional terms or conditions 

of sale may be added by Auctioneer by announcement or posted on the 

premises prior to the auction close.