Alex Cooper Terms of Sale

GENERAL TERMS
Bidding in this auction sale constitutes acceptance by you ("Bidder") of all the
Terms of Sale stated herein. ALL SALES ARE FINAL. This is a sight sale. Each
bidder must rely on his or her own judgment of an item's descriptions and
condition. Alex Cooper Auctioneers is not responsible for any error or omission.
The absence of a condition statement does not imply that the lot is in perfect
condition, nor is free from wear and tear, imperfections or the effects of aging.
Note that a fifteen percent (15%) buyer's premium will be added to the purchase
price. Shipping and removal arrangements are the responsibility of the
purchaser. You are paying a third party shipping company so the shipping cost
will be higher. Feel free to contact us with any questions.
THE FOLLOWING TERMS AND CONDITIONS OF SALE CONSTITUTE ALL TERMS
AND CONDITIONS ON WHICH PROPERTY LISTED IN THE CATALOGUE (INCLUDING
INTERNET WEBSITE LISTINGS) SHALL BE OFFERED FOR SALE OR SOLD BY ALEX
COOPER AUCTIONEERS, INC. ("ALEX COOPER AUCTIONEERS").
These Terms and Conditions of Sale contain all terms and conditions on which
Alex Cooper Auctioneers and the seller contract with the buyer of any tangible
personal property sold at auction by Alex Cooper Auctioneers. These Terms and
Conditions of Sale may be amended by Alex Cooper Auctioneers at any time
and from time to time through the time of sale by any notices posted or oral
announcements made during the sale. By bidding at an auction, whether in
person or by agent, absentee bid, telephone, internet, Bidspotter.com, you
agree to be bound by these Terms and Conditions of Sale.
1. AGENCY. Alex Cooper Auctioneers acts as agent for the sellers of all property
described in all catalogues. The contract for the sale of each item is a contract
between the secured creditor of the item and the successful bidder for the item.
2. PRESALE ACTIVITY.
A. Inspections. All Alex Cooper Auctioneers auctions are sight sales. You are
strongly advised to personally inspect and examine any items that you
contemplate bidding for. If you purchase any item sight unseen, you accept all
responsibility for such purchase; without limitation, you accept any defects,
damages, past repairs, irregularities, and all other physical conditions that
could have been determined by your inspection of the property. If the results of
your inspection and/or evaluation of any property leave uncertainty in your
mind as to any matter you deem relevant to your potential purchase, Alex
Cooper Auctioneers recommends you have an expert examine the lot for you or
do not bid on the item in question. Neither Alex Cooper Auctioneers, secured
creditor nor their agents made any warranty or guaranty as to property offered
at auction.
B. Descriptions. Written and oral descriptions, including without limitation
catalogue and internet descriptions and condition reports, are our opinions
only, and should not be construed or relied upon as statements of fact nor as
guarantees of any kind. Such statements do not constitute a representation,
warranty or assumption of liability of any kind by us. Alex Cooper Auctioneers
is not responsible or liable for the correctness of the catalogue, internet listing,
condition reports, or other descriptions, except as provided in Section 5 hereof.
Any references to damage, repair or restoration are for guidance only and
should be evaluated by personal inspection by the bidder; the absence of such
references does not imply that an item is free from defects, repairs, or
restoration, nor does a reference to particular defects, repairs or restorations
imply the absence of others. All measurements are approximate. Upholstered
furniture has not been disinfected.
C. Images. All images in Alex Cooper Auctioneers catalogues are for
identification purposes only and are not intended to represent the actual color
or clarity of the item being auctioned. All photos are of the actual items being
auctioned unless otherwise noted in the catalogue or online listing. Please note
that the photos may be enlarged to show detail or reduced for inclusion in the
catalog online listing.
D. Inspections. All Alex Cooper Auctioneers auctions are sight sales. You are
strongly advised to personally inspect and examine any items that you
contemplate bidding for. If you purchase any item sight unseen, you accept all
responsibility for such purchase; without limitation, you accept any defects,
damages, past repairs, irregularities, and all other physical conditions that
could have been determined by your inspection of the property. If the results of
your inspection and/or evaluation of any property leave uncertainty in your
mind as to any matter you deem relevant to your potential purchase, Alex
Cooper Auctioneers recommends you have an expert examine the lot for you or
do not bid on the item in question. Neither Alex Cooper Auctioneers, secured
creditor nor their agents made any warranty or guaranty as to property offered
at auction.
E. Estimates of Selling Price. Any estimate of the selling price of an item stated
in our catalogue or internet listing is intended as a guide for prospective
bidders. Any bid between the listed figures would, in our opinion, offer a fair
chance of success. However, all property can bring prices either above or below
stated estimates. Stated estimates should not be relied upon as the value of the
item, nor as a statement that this is the price at which the item will in fact sell.
F. Buyer's Responsibility. All property is sold "AS IS" with all faults and without
any representation or warranty of any kind by Alex Cooper Auctioneers or the
seller. Buyers are responsible for satisfying themselves as to all aspects of
property condition and descriptions, including without limitation genuineness,
attribution, provenance, authenticity, authorship, completeness, condition,
damage, repairs, restorations, estimates of value, and all matters referred to in
catalogue entries, internet descriptions, condition reports, and elsewhere.
3. CONDUCT OF SALE.
A. Bidder Qualification. Alex Cooper Auctioneers may from time to time
establish standards of qualification for bidders. Internet bidders must qualify
through Bidspotter.com online bidding software. Alex Cooper Auctioneers
reserves the right, at its complete discretion, to refuse admission to the
premises and/or participation in any auction, and to reject any bid.
A1. Deposit Required. In order to bid at the live auction or online, Auction lot 6
which is ?Lots 7-168 being offered as an entirety? requires a $20,000 deposit.
Also, for auction lot 119 which is ?Entire Powder Coating System included in
Lots 115-118? requires a $5,000 deposit. The required deposits are due at
time of sale if attending the live auction or wired to our corporate escrow
account twenty-four hours prior to the live auction. If attending the live auction
the deposit is due in CASH or CERTIFIED CHECK. CREDIT CARDS ARE NOT
ACCEPTED. Personal checks are only accepted when accompanied with a Bank
letter of guarantee, no exceptions.
B. Bidder Registration. Prospective bidders attending the live auction are
required to register day of sale. Internet bidders must register through
Bidspotter.com online bidding software at least 24 hours prior to the auction. A
Credit Card is required for registration, but will not be allowed for payment of
assets. PRIOR TO BIDDING, ALL REGISTRANTS ARE REQUIRED TO CAREFULLY
READ ALL TERMS AND CONDITIONS OF SALE, THE DESCRIPTIONS FOR THE LOTS
ON WHICH THEY HAVE BID AND THEY AGREE TO BE BOUND BY THESE TERMS OF
SALE. Any questions shall be directed to Alex Cooper Auctioneers prior to
bidding. Registrants are responsible for payment of purchases resulting from all
successful bids.
C. Internet Bidding. Internet bidding is offered as a service to our customers,
and prospective bidders shall not hold us responsible for any errors or failures
in executing bids, nor shall they hold us responsible for any failure due to the
loss of the auction applet supplied to us by Bidspotter.com online bidding
software and compete against live bids on our auction floor, telephone bids,
and absentee bids by bidders who are not participating in the internet
component of the auction. Internet bids are announced competitively by a
member of our staff at the time of the live auction. Alex Cooper Auctioneers
may be offered other bids of the same value as your internet bid. It is at the
auctioneer's discretion which of these bids it chooses to accept during the
auction.
D. Acceptance and Rejection of Bids. Alex Cooper Auctioneers reserves the right
to accept or reject any bid for any reason whatsoever. The highest bidder
acknowledged by Alex Cooper Auctioneers will be the actual buyer. In the event
of any dispute between bidders, or in the event of doubt on Alex Cooper
Auctioneers' part as to the validity of any bid, Alex Cooper Auctioneers will have
the exclusive final discretion to determine the successful bidder, cancel the
sale, or to re-offer and resell the item in dispute. Alex Cooper Auctioneers is
not responsible for any errors or omissions in connection therewith. Alex
Cooper Auctioneers shall be the sole arbitrator in case of any disputed bid.
E. Reserves. It is the policy of Alex Cooper Auctioneers to act as agent on behalf
of the sellers; Alex Cooper Auctioneers does not permit a seller to bid on his or
her own lots unless expressly so stated or except as herein set forth. Unless
advertised otherwise, some lots may be offered subject to a reserve. A reserve
is the minimum price that the seller is willing to accept for the lot, which may or
may not be disclosed, and which may be determined or modified at any time by
written or verbal communication between the seller and Alex Cooper
Auctioneers through conclusion of the auction sale for that lot. It is important
for all bidders to know that Alex Cooper Auctioneers may open the bidding on
any lot by placing a bid on behalf of the seller, and may continue to bid on
behalf of the seller up to the amount of the reserve price, either by placing
consecutive bids or by placing bids in response to other bidders. Alex Cooper
Auctioneers will not place consecutive bids on behalf of the seller above the
reserve.
F. Withdrawal of lots. Alex Cooper Auctioneers reserves the right to withdraw
any lot before or during the sale and shall have no liability whatsoever for such
withdrawal. No participant in the auction sale shall have a right to claim any
damages, including consequential damages if a lot is withdrawn.
G. Bidding Increments. Alex Cooper Auctioneers uses the following increment
multiples for all bidding, whether live, absentee, telephonic or internet.
Bid Range Increments
$0 - $99 $10
$100 - $499 $25
$500 - $999 $50
$1,000 - $1,999 $100
$2,000 - $4,999 $250
$5,000 - $9,999 $500
$10,000 - $19,999 $1,000
$20,000 - $49,999 $2,500
$50,000 - $99,999 $5,000
$100,000 + $10,000
H. Winning Bids. Subject to Alex Cooper Auctioneer's discretion, the highest
bidder accepted by Alex Cooper Auctioneers will be the winning bidder, and the
striking of the hammer marks the acceptance of the highest bid and the entry of
a contract between the seller and high bidder. The winning bidder assumes full
responsibility and risk of loss for items purchased at the fall of the hammer.
Any person submitting bids on behalf of a corporation or other entity, by
making such bid, agrees to be personally liable for the payment of the purchase
price and any related charges and the performance of all Buyer obligations
under the Terms of Sale. ALEX COOPER AUCTIONEERS IS NOT RESPONSIBLE FOR
ANY ERRORS IN BIDDING. All Bidders should make certain to bid on the correct
lot and that the bid is the bid intended. Once the hammer has fallen and the
Auctioneer has announced the Buyer, the Buyer is unconditionally bound to pay
for the lot, even if the Buyer made a mistake.
4. FOLLOWING THE SALE.
A. Invoice. The bidder acknowledges that the invoice describing a lot by number
incorporates the catalog and Terms of Sale.
B. Buyer's Premium. A Buyer's premium fifteen percent (15%) of the hammer
price will be added to the purchase price for each lot and paid by the winning
bidder.
C. Tax. All purchases will be subject to a 6% Maryland sales tax unless: (i) the
property purchased is for resale and a valid Resale Tax number is presented to
Alex Cooper Auctioneer's business office at the time of payment, and the sales
price is $200 or more; or (ii) the property is being shipped to a buyer located
outside the state of Maryland. All applicable value added tax, sales tax,
compensating use tax, or equivalent or other taxes shall be paid by the winning
bidder.
D. Payment. Alex Cooper Auctioneers accepts cash, certified checks as payment.
Wire transfers are encouraged and can be arranged through our accounting
department. No personal checks will be accepted without prior approval. On any
cash transactions or series of transactions exceeding $10,000, Treasury Form
8300 will be filed. All property must be paid day of sale, except Internet bidders
should contact Alex Cooper Auctioneers at 410-828-4838 to arrange payment
within twenty four hours by any of the above methods.
E. Collection of Lots / Shipping. Immediate removal required in the event that
the lots are not removed by the winning bidder or the winning bidder's shipper
by June 11, 2012 at 12:00 noon, Alex Cooper Auctioneers shall be entitled to
exercise its rights and remedies outlined in Section G hereof. Removal shall be
at the sole expense, liability, and risk of the Purchaser. Purchases can be
removed only on presentation of paid bill. Alex Cooper Auctioneers will not
pack or ship; providing names of packing and shipping agents is done as a
convenience for the winning bidders and Alex Cooper Auctioneers shall have no
responsibility or liability for loss or damage of property shipped to winning
bidders. Neither Alex Cooper, the secured creditor and their agents are liable
under any circumstance for, and Purchaser hereby unconditionally and
irrevocably agrees to indemnify, defend and hold harmless Alex Cooper
Auctioneers, the secured creditor and their agents against, any and all claims,
losses, damages, costs or expenses directly or indirectly connected with,
relating to or arising from or out of the removal of purchased items from the
auction site (the ?Premises,?), including, but not limited to, any (i) loss or
damage that may occur to purchased items or Premises, (ii) injury incurred by
any staff, employee, agent, contractor or any other person acting for or on
behalf of Seller or Purchaser with respect to the removal of purchased items
from the Premises or (iii) any discharge, spillage, uncontrolled loss, seepage or
filtration of any flammable, explosive, radioactive or reactive materials, any
pollutants, contaminants or other hazardous, dangerous or toxic chemicals,
materials or substances, any petroleum products or substances or compounds
containing petroleum products, including gasoline, diesel fuel and oil, any
polychlorinated biphenyls or substances or compounds containing
polychlorinated biphenyls, and any other hazardous material or substance on
Premises.
F. Offsite Storage Information for Sold Property. Alex Cooper Auctioneers shall
not be responsible for items not removed within the time specified, and shall
have the option of removing and storing at the expense and risk of the
Purchaser any article purchased.
G. Remedies for breach. If any applicable conditions herein are not complied
with by a winning bidder, in addition to other remedies available by law,
including without limitation the right to hold the winning bidder liable for the
total purchase price, Alex Cooper Auctioneers at its option may either (a) cancel
the sale, retaining as liquidated damages all payments made by the winning
bidder or (b) resell the property at public auction without reserve or minimum
selling price, and the winning bidder will be liable for any deficiency and costs,
including handling charges, expenses of both sales, the commission on both
sales at regular rates, all other charges due hereunder and incidental damages.
In the event of breach by internet bidders of these Terms and Conditions of
Sale, Alex Cooper Auctioneers may file a Non-Paying Bidder Alert to
Bidspotter.com. Alex Cooper Auctioneers reserves the right to impose a
carrying charge of 1.5% per month on past due accounts. Buyers agree to pay
reasonable attorney's fees and costs incurred to collect past due accounts.
5. LIMITATION OF WARRANTIES.
NO WARRANTIES. ALL LOTS ARE OFFERED, AND ALL PROPERTY IS SOLD, "AS IS"
WITH ALL FAULTS AND WITH NO GUARANTIES OR WARRANTIES OF ANY TYPE.
WITHOUT LIMITATION, NEITHER THE SECURED CREDITOR NOR ALEX COOPER
AUCTIONEERS, NOR ANY OF THEIR OFFICERS, EMPLOYEES OR AGENTS, MAKE
ANY REPRESENTATION, WARRANTY OR GUARANTY, NOR ASSUME ANY LIABILITY
OF ANY KIND WITH RESPECT TO MERCHANTABILITY, FITNESS FOR A PARTICULAR
PURPOSE, DESCRIPTION, SIZE, GRADING, QUALITY, ATTRIBUTION, GENUINENESS,
AUTHENTICITY, PROVENANCE, AGE, CONDITION, MATERIALS, AUTHORSHIP,
COMPLETENESS, DAMAGE, REPAIRS, RESTORATIONS, ESTIMATES OF VALUE OR
ANY OTHER FEATURES. NEITHER THE SECURED CREDITOR NOR ALEX COOPER
AUCTIONEERS, NOR ANY OF THEIR OFFICERS, EMPLOYEES OR AGENTS, ARE
RESPONSIBLE FOR THE CORRECTNESS OF ANY STATEMENT OF WHATEVER KIND
CONCERNING ANY LOT, WHETHER WRITTEN OR ORAL, NOR FOR ANY ERRORS OR
OMISSIONS IN DESCRIPTION OR FOR ANY FAULTS OR DEFECTS IN ANY
PROPERTY. THE PURCHASER HEREBY ASSUMES ALL RISKS CONCERNING AND
RELATED, INCLUDING BUT NOT LIMITED TO, THE GRADING, QUALITY,
DESCRIPTION, CONDITION, AUTHENTICITY, AND PROVENANCE OF A LOT.
A. All Sales are Final. Items are sold with all faults and are not returnable for any
reason.
6. MISCELLANEOUS.
A. Governing Law. These Terms and Conditions of Sale, as well as the respective
rights and obligations of Alex Cooper Auctioneers, the seller, and any
purchasers or bidder at any sale of Alex Cooper Auctioneers, shall be governed
by and construed and enforced in accordance with the laws of the State of
Maryland.
B. Limitation of Liability. In no event shall the liability of seller or Alex Cooper
Auctioneers, its officers, employees and agents, to a winning bidder for any
breach, act, omission, or claim of any nature, with respect to an item
purchased, exceed the purchase price actually paid by the winning bidder for
the item. In no event shall the secured creditor or Alex Cooper Auctioneers,
their respective officers, employees and agents, have any liability under any
circumstances for special, indirect, incidental or consequential damages
(including for loss of profits or revenue, costs of obtaining alternative property,
claims of customers of winning bidders or otherwise), whether in contract, tort,
negligence, strict liability, or otherwise, arising out of, resulting from or in any
way relating to the property purchased, or its purchase, sale, delivery or non-
delivery. In no event shall secured creditor or Alex Cooper Auctioneers, their
respective employees and agents, be liable for any claims related to the errors,
acts, omissions, websites, or technology of Artfact Live or www.artfact.com or
our online bidding software, known as Infinite Bidding.
C. Jurisdiction. By bidding at an auction, whether present in person or by agent,
absentee bid, telephone bid, online internet bid, or other means, the winning
bidder shall be deemed to have consented to the exclusive jurisdiction for the
resolution of any disputes of the state courts in Baltimore County, Maryland.
D. Legal fees. In any litigation between Alex Cooper Auctioneers and any
bidders (whether or not the winning bidder) the prevailing party shall be
awarded full reimbursement of its actual paid legal fees in connection with the
dispute.
E. Severability. If any provision or portion thereof of the Terms and Conditions
of Sale shall be void, unlawful or unenforceable under applicable law, that
provision or portion thereof shall be deemed deleted and severed from the
remaining provisions, and shall not affect the enforceability or validity of any of
the remaining provisions.
F. No Assignment. Unless Alex Cooper Auctioneers consents in writing, a
winning bidder may not assign its rights or any of its obligations relating to an
auction or other sale by Alex Cooper Auctioneers. Any assignment without Alex
Cooper Auctioneers' written consent will be void.
G. No Waiver. These Terms and Conditions of Sale may not be waived by Alex
Cooper Auctioneers unless such waiver is in writing and signed by Alex Cooper
Auctioneers. A waiver on one occasion shall not be a waiver on any other or
future occasion or affect Alex Cooper Auctioneers' right to insist on strict
performance of all other provisions.