CHAIN

JOEY MARTIN AUCTIONEERS, LLC.

LOW COUNTRY HEAVY EQUIPMENT, TRUCK AND AGRICULTURAL PUBLIC AUCTION

November 9, 2024 - 5206 Bamberg Road, Cope SC 29038

Begins at 9:00 AM

Auction Terms and Conditions

Set forth below are the terms and conditions that shall apply to any purchase by any party (a “Buyer”) from Joey Martin Auctioneers, LLC. (“JMA”). BY SIGNING BELOW AND PARTICIPATING IN THE AUCTION YOU AGREE YOU HAVE READ, UNDERSTAND AND AGREE TO BE BOUND BY THE TERMS AND CONDITIONS STATED HEREIN.

1. No Warranty. All machinery, equipment, merchandise and other items are sold on an “AS IS/WHERE IS” basis without licenses, warranties or representations, either expressed or implied. Joey Martin Auctioneers LLC makes no warranties or representations of any kind or nature with respect to the property or its value and in no event shall either be responsible for correctness of description, genuineness, attribution, provenance, authenticity, authorship, completeness, condition of the property or estimate of its value. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, THE WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE AND MERCHANTABILITY ARE EXPRESSLY DISCLAIMED.

2. Registration. Buyers must register prior to bidding at any auction sale and must be of legal capacity to enter into this agreement. All bidders must provide their name, company (if applicable), mailing address, physical address, phone number and email address prior to the auction. Buyer shall have obtained the financing necessary to make desired purchase(s) prior to registration; and shall inform JMA of the same at such time by filling out the Purchase Financing Form included herewith.Likewise, Buyer must provide a bank letter guaranteeing the availability of funds for all payments in the form of wire transfer, cash, credit card, and/or check.  Without a bank letter, Buyer will have a $10,000 bidding limit. By registering, you represent and warrant any and all Buyer Information is accurate and complete. It is solely the Buyer’s responsibility to maintain current Buyer Information for completeness and accuracy. JMA reserves the right to deny and or terminate Registrations at any time at its sole discretion without notification. 

3. Deposits. JMA may require a bid deposit, in which case the requirement and amount of the deposit will be set forth in the auction materials. In the event a deposit is required, it can be in the form of cash, a cashier’s check, or business check with a bank letter of guarantee. Buyer acknowledges and agrees that in the event Buyer defaults, as described in Item 8 below, the deposit shall be retained by JMA but shall not constitute liquidated damages or otherwise inhibit JMA’s ability to pursue any sums due through formal collection efforts.

4. Buyer’s Premium. JMA shall charge a 10% Buyer’s Premium on all purchases, which shall be due and payable to JMA as described in Item 6 below.  All online buyers will pay 12% Buyer's premium.

5. State Sales Tax.  State sales tax applies to all items purchased.  Sales tax will be added to the hammer price and the buyer’s premium. If you are a dealer and are purchasing items for resale, you must present your resale certificate at the time of registration.  Out of state buyers must present either B.O.L. from third party common carrier or their resale certificate.  

6. Payments. JMA must receive full payment of the total purchase price, buyer’s premium, sales tax (if applicable) and any other charges no later than the close of business on the date of the auction or as otherwise announced by JMA. All payments must be made by federal wire transfer of immediately available funds or by cash, credit card, cashier’s check, and/or business check.  A bank letter guaranteeing the availability of funds is required at registration. A 3% CHARGE WILL BE APPLIED TO ALL CREDIT CARD PAYMENTS. There will be a $10,000 limit on each credit card payment.  No title shall pass to Buyer until the total purchase price and all taxes and fees have been paid to JMA in full.

7. Removal of Goods. (1) Buyers or their Agents must remove all items purchased before the final removal date and time announced by JMA and provided below (the “Removal Date”). (2) No Goods shall be removed until the full purchase price and all applicable taxes thereon have been received by JMA in the form required. Buyer shall be responsible for the safe and proper removal of any items purchased and JMA staff will assist with loading. However, JMA does not pack, ship, store, crate or rig items for removal.  Risk of loss on any item shall pass to the Buyer upon payment in full to JMA. JMA shall have no responsibility whatsoever for any missing or lost items that have not been removed within forty-eight (48) hours of the conclusion of the sale unless otherwise agreed upon.

8. Defaults. Bidders must bid only on those items they are prepared to pay for and remove in accordance with the terms and conditions of this sale. All items awarded to high bidders are contractually theirs and must be paid for by the Final Payment Date and removed by the Final Removal Date. Upon default, the purchaser shall lose all right, title, and interest which he/she might otherwise have acquired in and to such property as to which default has occurred. JMA shall have the option, but not the obligation, to re-market and re-sell this property.

Failure to pay invoices in full by the Final Payment Date in accordance with payment terms will subject Buyer to pay as Liquidated Damages a sum equal to the greater of (1) 20 percent of the invoice price of the item(s) as to which the default has occurred, or (2) the full amount of the difference between the original invoice price and the re-sold price plus any expenses incurred to re-market or re-sell these items, as well as attorney’s fees and other expenses reasonably incurred in the collection of such sums and interest on the outstanding amount at the rate of 15% per annum from the Final Payment date.  In the event of such default, JMA shall have the option, but not the obligation, to pursue an action for specific performance against Buyer in lieu of the liquidated damages described above.

Failure to remove items by the Final Removal Date in accordance with removal terms will subject Bidder to pay as Liquidated Damages the full amount of the expenses incurred to store or transport items until they are re-sold as well as attorney’s fees and other expenses reasonably incurred in the collection of such sums. 

9. Removal Date.  All items must be removed from the auction site no later than November 16, 2024 at 5:00pm.  Load out hours shall be November 9 through November 16, 2024, from 8am to 5pm only unless otherwise specified or agreed upon. NO SUNDAY LOAD OUT.

10. Promotional Material Permission. JMA may take photos/videos/audio footage of auction participants for use in promotional materials in print, multimedia, or web form. By signing this form, the buyer gives permission for their likeness to be used in such manner.