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Alaska Auctions - Grubstake Auction Company - Anchorage, Alaska - Alaska Auctions |
Whatever your business might be with Grubstake Auction Company we will endeavor to explain our process. Grubstake Auction Company can explain the simple process and answer any questions you might have about your sale or purchase before the actual auction, just contact our staff with your concerns.
To give you some idea of what you can expect we have provided the following sample forms for your review. These forms are used for only our on-site live auction and do not apply to commercial and industrial accounts. For additional information contact our sales staff.
Terms & Conditions
By attending and/or participating in this auction, you have agreed to be bound by these terms and conditions and by any additional or modified terms or conditions announced by the auctioneer.
15% Buyers Premium in effect.
Identification - All bidders are required to have a bidder’s number provided by Grubstake Auction Company (Grubstake).
Addition to or Withdrawal from Sale - Grubstake reserves the right to withdraw from sale any of the goods listed or to sell at this auction goods not listed. Grubstake also reserves the right to group multiple lots into one or more selling lots or to subdivide lots into two or more selling lots. Grubstake reserves the right to sell any or all of the goods listed in bulk.
Inspection - It is the bidder’s responsibility to inspect the goods during the inspection period provided prior to auction.
Condition of Goods - All goods are sold as is, where is, without express or implied warranties and without recourse against Grubstake or the seller. There is no guarantee, warranty or representation, expressed or implied, as to quality, kind, character, quantity, weight, size, description or fitness for any use or purpose of any sale goods. Bidders are responsible for the security of their purchases immediately after the award is made.
Reserve - The auctioneer reserves the right to reject any and all bids. The auctioneer reserves the right to bid on behalf of the seller or on his own behalf.
Disputes Between Bidders - If any dispute arises between two or more bidders, the auctioneer may render a decision or may immediately put the lot up for sale again and resell to the highest bidder. The decision of the auctioneer shall be final and absolute.
Time and Manner of Payment - Successful bidders agree to pay the purchase price in accordance with the bid. The full purchase price on all lots sold to the same buyer must be paid on the day of sale and before removal of any of the goods.
Check Policy - Checks accepted from local banks only. All returned checks will be charged a $35.00 fee.
Compliance with Terms of Sale - In default of payment of purchase price in full within the time specified, Grubstake may retain all monies received as liquidated damages in addition to all other remedies allowed by law. No claims will be allowed. Goods not paid for or removed within the time specified may be resold at public or private sale without further notice and any deficiency, together with all expenses and charges of resale, will be charged to the defaulting purchaser.
Title - Title to goods sold shall transfer to the purchaser when full and final payment is made. Vehicle or property title paperwork will be provided to purchaser as soon as practical following the auction. Purchasers are responsible for the paperwork provided A fee will be charged for replacement paperwork.
Removal - Removal shall be at the expense, liability and risk of the purchaser. Purchaser agrees to indemnify and hold harmless both consignor and Grubstake against any damage caused by acts of the purchaser and/or his agents. Grubstake is not responsible for goods not removed within the time specified, and shall have the option of removing and storing any goods not removed at the expense and risk of the purchaser.
Non delivery Responsibility - Grubstake is an agent only and shall not, in any event, be liable for non delivery, whether such non delivery results from seller’s decision to withdraw the goods from the sale or for other reasons. In the case of non delivery, Grubstake will return the purchaser’s deposit or payment on the nondelivered lot should the purchaser be entitled to it.
Records - The record of sale kept by Grubstake is final in the event of any dispute.
Personal and Property Risk - Persons attending during preview, sale or removal of goods assume all risks of injury or loss to person and property and specifically release Grubstake from liability therefore. Neither Grubstake nor its principals shall be liable by reason of any defect or condition on which the sale is held.
Agency - Grubstake is acting as agent only and is not responsible for acts of its principals.
Change of Terms and Conditions - Grubstake reserves the right to change the terms and conditions of sale by announcement, written or oral, prior to or during the auction.
Auctioneer’s Note: Every thing sells “AS IS WHERE IS,” with no warranties implied or expressed. Neither the auctioneer nor owners shall be liable for any incorrect description, fault or defects. Everything positively sells to the highest bidder unless stated prior to or during auction. Auctioneer is not responsible for accidents or stolen property
By this Consignment Auction Agreement (Agreement), the undersigned (Consignor) authorizes Grubstake Auction Company (Auctioneer) to sell at public auction or private sale, the personal property (Property) listed below following the general conditions herein set forth.
Auctioneer will attempt to
obtain the highest price possible. The property will be sold to the highest
bidder without reserve (minimum bid) unless a minimum bid is provided and
entered below when Agreement is signed. If Auctioneer elects to sell any item
of Property below the minimum bid, Consignor will receive the net amount he
would have received had Property been sold at the minimum bid.
Commission on each individual item/lot of Property sold will be deducted from the proceeds of sale as per agreed in writing prior to Auction.
In addition to the commission charged to Consignor, Auctioneer may, at his sole discretion, charge a Buyer’s Premium assessed against the successful bidders. Unless otherwise agreed in writing prior to the auction, Auctioneer will retain the entire Buyer’s Premium.
If a minimum bid is set by
Consignor, a run thru fee will be charged on each lot/item that remains unsold
following each auction: 3% of minimum bid set by Consignor or a flat fee of
$100.00 per item whichever is greater.
Any lot/item of Property of
which Auctioneer can not solicit a minimum bid of $25.00 may be combined with
other lots/items or disposed of by any method at the sole option of the
Auctioneer. Unsold Property may be removed within three days after the
auction. Consignor hereby agrees that his title to all lots/items not removed
within three days of auction is forfeited. Auctioneer may take possession of
such lots/items and retain or dispose of them in any manner he deems
appropriate. Dump fees may be charged on all lots/items not picked up within
three days following auction.
Transportation costs for moving
Property to the auction site, run thru fees, dump fees and storage are the
responsibility of Consignor. Additional costs indicated below are the
responsibility of Consignor. Prepayment may be required or these costs may be
deducted from the proceeds of sale at Auctioneer’s option.
There is a $25.00 gate fee for
lot access outside of normal business hours.
Storage at the rate of $25.00
per day per lot/item for outside storage will be charged on Property subject
to contingency restricting sale unless a contract for storage has been agreed
to in writing.
Auctioneer will remit to
Consignor the net proceeds of the sale of Property (less fees, expenses and
commissions) within 10 business days of receipt of collected funds. Auctioneer
has no obligation to enforce payment by the buyer. In the event of nonpayment,
Auctioneer, in his sole discretion, may re-offer Property at a future auction,
cancel the sale and return Property to Consignor, enforce payment by the buyer
or take any other actions permitted by law. Auctioneer is not, under any
circumstances, liable for any consequential, special or other damages to
Consignor as a result of nonpayment by the buyer.
Reasonable care will be taken
of all items of Property received. Consignor is responsible for insurance
coverage on Property unless Auctioneer agrees otherwise in writing. In the
event of a loss, if settlement cannot be agreed upon, an independent appraiser
shall be retained and his decision on fair auction values less commission and
expenses will be binding on both parties. The cost of such appraisal will be
shared equally by Consignor and Auctioneer.
Consignor hereby warrants that
he is the legal owner of each item of Property or has legal authority to sell
the Property, that Property is free and clear of all liens and/or that the
sale is approved by any lien holder and that Consignor has complete power to
sale.
Consignor agrees to indemnify,
defend and hold Auctioneer harmless from and against any and all claims,
actions, damages, losses, liabilities and expenses including full actual
attorney’s fees and costs relating in any way to the breach of alleged breach
of any of Consignor’s representations, warranties and indemnity shall survive
completion of the transaction contemplated by this Agreement.
Consignor covenants and agrees that neither Consignor, nor any agent, representative or employee of Consignor (other than Auctioneer) shall enter or cause to be entered a bid on any item of Property at any auction. Auctioneer shall protect any reserve stipulated herein by bidding on Consignor’s behalf.
