Purchaser is to give name and address and is to pay a cash or certified check deposit of at least 25 percent of the amount of purchase or the whole of the purchase price if required, in default of which the lot or lots so purchased are to be immediately put up again and resold. We reserve the right to charge a buyers premium. We retain the right to refuse anyone the right to participate in our auctions.
PLEASE HAVE YOUR BANK USE THIS FORMAT FOR THE LETTER OF GUARANTEE
Sample Letter: This bank guarantees payment of checks payable to Grossman Inc. from (name of customer) on account #__________ up to the amount of $__________. This letter is valid for purchases made at (name & location) of the auction __________ on __________ (date).
All bills must be paid in advance before release of goods. No goods will be released except on presentation of receipted bill. All goods are to be removed at the presentation of paid receipt.
To prevent error upon release of purchased goods, no lots can, in any amount, be removed during sale.
No lots will be divided or transferred from one purchaser to another.
The name or number of the bidder or the word “SOLD,” pronounced by the Auctioneer is final.
Every lot will be sold, as is and where is, as per number attached to each article.
Goods will be on exhibition and can be inspected and examined. ALL INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED. No claims will be considered after the sale of any items.
Warranties – Every lot will be sold, as is and where is, as per number attached to each article. The Auctioneer cannot be held liable for any incorrect description, fault, or defect in all or any part of any item or lot. ALL PROPERTY IS SOLD AS IS, WHERE IS, AND WITH ALL FAULTS. NO WARRANTIES, WHETHER EXPRESSED OR IMPLIED, IN FACT OR BY LAW, ARE MADE BY THE AUCTIONEER OR THE STAFF OF GROSSMAN INC. THAT ANY OF THE AUCTIONED GOODS ARE MERCHANTABLE OR FIT FOR ANY PARTICULAR PURPOSE, AND THERE ARE NO WARRANTIES, EXPRESSED OR IMPLIED, IN FACT OR BY LAW, OF ANY KIND OR NATURE WHATSOEVER, MADE BY THE AUCTIONEER OR THE STAFF OF GROSSMAN INC.
All goods in lots or pieces will be sold to the highest bidder for cash. AUCTIONEER RESERVES THE RIGHT TO: Withdraw any and all items from sale and/or to group items for sale. Positively no checks will be accepted, unless certified.
The record found in the marked catalogue of the Auctioneer shall in all cases be accepted by the buyers as final should any question arise as to the price for which lots have been sold.
Upon the failure of any buyer to comply with these terms, the money deposited in part payment shall be forfeited, and all bills uncleared after the conclusion of the sale and delivery will be re-sold by public or private sale without further notice, at the risk and expense of such delinquent buyers, who will be held responsible for any deficit arising from such resale.
All information and description contained herein is believed correct, but no responsibility is assumed by us for same.
Each lot purchased shall be paid for and shall be removed from the premises by the purchaser at his expense, liability and Risk within time specified by Auctioneer. In the event that the purchaser fails to remove any such lot, or part thereof, within such period, A minimum $250.00 per day fee will be added to the purchaser’s bill for storage or removal of his purchased items. The Auctioneer, or his designees shall have the right (but shall be under no obligation so to do), either in the name of the Auctioneer, or other seller, or of the purchaser, to remove, store, abandon, discard, sell or otherwise dispose of each or any part of the lot bid or purchased, at the expense and risk of the purchaser, whether such lot has been paid for in whole or in part, all without waiving any other rights that the Auctioneer or other seller may have against the purchaser. The purchaser shall be, and shall continue, to remain, liable for all loss, expense and other damage, directly or indirectly sustained by the Auctioneer or other seller by reason of the failure of the purchaser to comply with the foregoing conditions.