RITCHASON AUCTIONEERS TERMS & CONDITIONS
The following information applies to all auctions conducted by Ritchason Auctioneers, Inc. (Auctioneer) and is subject to any additional Terms and Conditions applicable to each specific auction:
Bound by Terms & Conditions:
By registering to participate in a Ritchason Auctioneers, Inc. Auction and by obtaining a bid number, the individual (Bidder), whose signature appears on the Registration Agreement, has agreed to be bound by all written Terms and Conditions contained herein as well as by any announcements made at the sale. Bidder, whether acting as principal, agent, officer or director of a company or otherwise and the company he represents are bound by these terms and conditions.
FEES CALCULATED PER ITEM ON LAST AND FINAL BID
$1 -$4000 (8%),
$4001 -$25,000 (7%)
$25,001 -$50,000 (6%)
$50,001 – $75,000 (5%)
$75,001 & Up (4%)
An additional 2% Fee Will Be Added to Successful Online and/or Live Online Simulcast Bids.
Satisfactory settlement in U.S. Funds is to be made during or at the conclusion of the auction.
Purchased items will not be released until the total purchase price has been fully paid. A Buyers’ Fee (based on hammer price of item) will be added to all invoiced purchases. Online Bidding Fees will not be applied to purchases made by an On-Site Bidder. Purchaser must pay all state and local sales tax on an item when applicable. (Refer to Tennessee Sales Tax section).
Payment will be accepted by cash, check, cashier’s check, wire transfer or ACH. A Bank Letter of Guarantee drawn on a U.S. Bank addressed to Ritchason Auctioneers, Inc. must accompany all checks over the amount of $2,000. VISA, MasterCard, Discover and American Express will be accepted on purchases under $2000 (a 3% Admin Fee will be added to all credit card purchases). International Buyers must pay by wire transfer or ACH. If balance is not paid in full by six (6) calendar days from the day of auction, a late fee in the amount of $150 per day will be added to the invoice. (Refer to Failure to Settle section).
All bidders must be 18 years of age or older.
Bidder Information and Security:
All registration information the bidder provides to Auctioneer shall be current, complete and accurate. All bidders are responsible for any bids placed under their bidding numbers and passwords. The security of bidder information is the responsibility of the bidder. Bidders must notify Auctioneer if they feel that their bidder number and password have been compromised.
The listing of all items herein is a guide only and is based on information given to Auctioneer, but its accuracy is not guaranteed or warranted. Auctioneer is not responsible for any errors in description or condition. Some years listed may reflect year of purchase and not manufacture.
- EVERY ITEM SOLD ” AS IS, WHERE IS” AND WITH ALL FAULT
- NO GUARANTEES OR EXPRESS WARRANTIES
- NO IMPLIED WARRANTY OR MERCHANTABILITY OR FITNESS FOR PARTICULAR PURPOSE FOR ANY ITEM.
- NO PURCHASE WILL BE VOIDED DUE TO CATALOG ERROR – CATALOG IS A GUIDE ONLY
- MILEAGE/HOURS STATED BASED ON CURRENT READING
- ALL SALES ARE FINAL
Bidder has had the opportunity to inspect all items and agrees he has satisfied himself and is not relying on Auctioneer for guarantees or warranties, expressed or implied or otherwise.
Interruption of Service:
Auctioneer cannot, and will not, be held responsible for any interruption in service, errors and/or omissions caused by any means. Auctioneer does not guarantee continual, uninterrupted or error free service onsite or with any online-bidding platforms. Bidder acknowledges that the online-bidding portion of this auction is conducted electronically and relies on computer hardware and software that may malfunction without warning. Auctioneer, in its sole discretion, may void any sale, temporarily suspend bidding and re-sell items that were affected by a malfunction. The decision of Auctioneer is final.
In case of a tie bid, Auctioneer reserves the right to reopen the bid between those two bidders. Auctioneer reserves the right to revoke any bid card at any time. Anyone bidding for an account other than his or her own must obtain a separate bid number for that account. The bidder offering the highest bid accepted by the Auctioneer shall be the “Purchaser” of the lot being sold and may not retract his bid. Purchaser will not be entitled to any adjustment, allowance, rescission, or damages or any other remedy regarding the condition of any item purchased.
Risk of Loss:
All risk transfers to the purchaser at the fall of gavel. Purchaser agrees to obtain full liability insurance coverage for the item as may be required by law.
Tennessee Sales Tax:
A 9.75% tax rate (2.75% local & 7.0% state) will be applied to ALL taxable items. A Single Article Tax adjustment will be made on amount over $1600 per item.
All dealers must execute certificate of resale on day of sale to claim exemption of sales tax.
Under item description the “*C—-” indicates items not subject to sales tax at RA auction. Click here to view the complete list.
Failure to Settle:
Any purchase not paid in full by the 6th calendar day from date of sale will be considered in default and will incur additional fees of $100 per day. In the event Purchaser fails to settle or fails to comply with any Terms, Auctioneer shall take possession of all Purchases and, at Auctioneer’s sole discretion, have the right to resell such Purchases without notice to Purchaser. Should resale take place, original Purchaser will be responsible for any deficiency arising from the resale, a 10% commission to Auctioneer, any failure to settle and/or storage fees and any legal costs incurred. To the extent permitted by law, you will also be required to pay Auctioneers’ collection expenses, including costs associated with the use of a collection agency, court costs and reasonable attorney’s fees.
A $50.00 administrative fee will be added to the purchase price of all titled items. Titles will be mailed via Certified U.S. Mail in ten (10) banking days from date of satisfactory settlement.
Removal and Storage:
All purchased items must be removed from Auction Site within fifteen (15) business days of sale. All items remaining after that date will incur a storage fee of $50 per day per item. Storage fees will continue per day up to 30 days after original purchase date. Items remaining on Auction Yard past 30 days will be considered abandoned and Auctioneer may resell all items per terms under Failure to Settle section above. Storage fees will continue per item until that item is resold.
Anyone caught damaging an item will be held responsible for the difference of auction price and Auctioneer appraisal, as well as any legal action taken by owner.
Trading lots on yard between the purchaser and another Bidder does not allow for the item to bring best possible price for the Consignor; therefore, anyone trading on the Auction Yard will be charged a commission of 10% or $250 whichever is greater. Trading must be done in office to invoice proper Purchaser.
ALL INDIVIDUALS AT THE AUCTION SITE ARE PRESENT AT HIS OR HER OWN RISK. Bidder agrees the auction site is potentially dangerous because of heavy equipment operation, electric circuits and presence of flammable, corrosive or pressurized liquids or other materials. Bidder shall warn its agents, employees, or any other persons accompanying Bidder of these possible dangers. Regardless of cause, Auctioneer or its agents will not be responsible for any injury or death to anyone at the auction site.
Removal Hours: Monday – Friday 8:00am until 4:00pm