Conditions of Sale | Abell Auction Company

Conditions of Sale

The property described in this catalogue, which description may be amended  by salesroom notice or announcement, will be offered for sale by A.N. Abell Auction Co. (Abell’s), as agent for various owners and other consignors (“sellers”).  These Conditions of Sale, and the Limited Warranty and Absence of Other Warranties set forth below, together with any glossary contained herein, constitute the complete and exclusive statement of the terms and conditions on which all such property is offered for sale. Abell’s reserves the right to vary the terms of sale and any such variance shall become part of these Conditions of Sale.  By bidding at auction, whether present in person or by agent, by written bid, or other means, the buyer agrees to be bound by these Conditions of Sale: 1.  As used in these Conditions of Sale, the term “final bid” means the highest bid acknowledged by the Auctioneer and the “purchase price” means the sum of the final bid plus the premium payable by the buyer, as set forth in Condition 4. 2.  The highest bidder acknowledged by the auctioneer shall be the buyer.  The auctioneer has the right to reject any bid, to advance the bidding at his absolute discretion and in the event of any dispute between bidders, to determine the successful bidder or to reoffer and resell the lot in dispute.  In the event of any dispute after the sale, Abell’s record of final sale shall be conclusive. 3.  Abell’s reserves the right to withdraw any lot before or at the sale. 4.  The purchase price payable by a buyer shall be the sum of the final bid plus a premium of 20% of the final bid. All purchases paid by check will not be available for release to the Buyer until the Buyer’s check(s) has (have) been cleared by Abell’s bank. 5.  Title to the offered lot shall pass to the buyer upon the fall of the Auctioneers hammer or the Auctioneer verbalizing “Sold”, subject to compliance by the buyer with all other Conditions of Sale.  Such buyer shall forthwith assume full risk and responsibility for the lot and shall pay the full purchase price or such part thereof as Abell’s, in its sole discretion, shall require. In addition, the buyer may be required to sign a confirmation of purchase. 6.  No lot may be removed from Abell’s premises until the buyer has paid in full the purchase price therefore or has satisfied such terms as Abell’s, in its sole discretion, shall require.  Subject to the foregoing, all lots are to be paid for and removed from Abell’s premises at the buyers expense no later than 5:00 p.m. of the third business day following the sale, and, if not so removed, Abell’s may transfer such lot to a public warehouse for the account, and at the risk and expense, of the buyer.  The buyer of any lot which remains on Abell’s premises later than 5:00 p.m. of the third business day following the sale will incur a charge for storage and handling of $5.00 per day for each lot.  In addition to other remedies available by law, Abell’s reserves the right to impose a late charge of 1 1/2% per month on the purchase price if the buyer does not make payment in full in accordance with these Conditions of Sale. 7. Bids which are submitted to Abell’s in writing or are otherwise left with Abell’s prior to an auction for execution at or below a specified price, as well those bids arranged by telephone, shall be entertained and executed by Abell’s for the convenience of bidders not present at auction, but Abell’s shall not be responsible for failing to execute such bids or for errors relating to its execution of such bids. 8.  Unless exempted by law, the buyer shall be required to pay any applicable state and local sale tax or compensating use tax on the purchase price. 9.  If the buyer fails to comply with any of these Conditions of Sale. Abell’s may, in addition to asserting all remedies available by law, including the right to hold such defaulting buyer liable for the purchase price, (1) cancel the sale, retaining as liquidated damages any payment made by the buyer, (2) resell the property without reserve at public auction or privately on seven days’ notice to the buyer or (3) take such other action as it deems necessary or appropriate.  If Abell’s resells the property, the original defaulting buyer shall be liable for the payment of any deficiency in the purchase price and all costs and expenses, including warehousing, the expenses of both sales, reasonable attorneys’ fees, commissions, incidental damages and all other changes due hereunder.  Any buyer who fails to comply with these Conditions of Sale will be deemed to have granted Abell’s  a security interest in,  and Abell’s may retain as collateral security for such buyer’s obligations to Abell’s, any property in Abell’s possession owned by such buyer.  Abell’s shall have the benefit of all rights of a secured party under the Uniform Commercial Code adopted in the state where the auction is held. 10.  The respective rights and obligations of the parties with respect to the Conditions of Sale and the conduct of the auction shall be governed and interpreted by the laws of California. By bidding at an auction, whether present in person or by agent, by maximum bid cards, authorized telephone bids or other means, the buyer shall be deemed to have consented to the jurisdiction of the courts of California. 11.  Abell’s may, in its discretion and as a service to buyers, arrange to have purchased lots packed, insured and forwarded at the request, expense and risk of the buyer.  Abell’s assumes no responsibility for acts or omissions in such packing or shipping by Abell’s or other packers or carriers, whether or not recommended by Abell’s. PLEASE NOTE All property is sold “as is” in accordance with the section entitled Absence of Other Warranties, and neither Abell’s nor the seller makes any express or implied warranty or representation as to the condition of any lot offered for sale, and no statement made at any time, whether oral or written shall constitute such a warranty or representation.  Descriptions of condition are not warranties.  The description of the conditions of articles in the catalogue, including all references to damage or repairs, are provided as a service to interested persons and do not negate or modify the section entitled Absence of Other Warranties.  Accordingly, all lots should be viewed personally by prospective buyers to evaluate the condition of the articles for sale. ABSENCE OF OTHER WARRANTIES Except as specifically provided, all property is sold “as is” and neither Abell’s, the sellers’ agent, nor the seller makes any express or implied warranty or representation of any kind or nature with respect to the property.  In no event shall Abell’s or the seller be responsible for the correctness of, or be deemed to have made, any representation or warranty of merchandise as set forth in this catalogue or made at the sale or in the bill of sale or invoice or elsewhere, whether oral or written, shall be deemed such a warranty or representation or an assumption of liability.