TERMS OF SALE – Sportsmen Auction, May 17, Narragansett, RI

NOTICE: By bidding on any lot you are creating a contract to buy. Failure to pay for any lot won will be a breach of your contract. The Auctioneer and Salvadore Auctions & Appraisals, Inc. reserves all rights to remedy any breach of contract by any bidder. All persons, bidders, interested parties, registered bidders or persons intending to register, view, inspect, bid or purchase any personal property, inventory, Lot, lot or item (collectively the “Lot”) at this auction sale agree that they have read and have full knowledge and understanding of these terms and agree to be bound by these terms.  All persons attend this sale at their own risk.  Within these Terms of Sale, “Auctioneer” means “Salvadore Auctions & Appraisals, Inc.” including its officers, directors, employees, agents and assigns.  “The Seller” means all Consignors, including his officers, directors, attorneys, employees, agents, estates, trusts and assigns. Lot means any item(s) offered for bid or for sale. “Purchaser” means bidder, registered person, company or business.

1) IDENTIFICATION OF BIDDER: All purchasers are required to give full name and address, present a valid, current and authorized government issued identification in the form of Drivers License, Government ID, or Passport and shall sign the within terms of sale.

2)TIME OF PAYMENT AND SETTLEMENT, BUYERS PREMIUM: All bills and/or invoices due must be paid and received in full in US Dollars by Auctioneer by the conclusion of the auction held on May 17, 2014.  Title shall pass after full payment has been received by the Auctioneer or its agent via the usual and customary form of bill of sale. METHOD OF PAYMENT: cash, valid credit card with executed authorization form, known check with proper ID. NO PERSONAL CHECKS WILL BE ACCPETED.  ALL SALES FINAL REGARDLESS OF MANNER OR METHOD OF PAYMENT.  BUYERS PREMIUM: A Eighteen percent (18%) Buyers Premium will be charged and shall apply to all lots sold.  A three percent (3%) discount will be allowed for payment in cash or approved check. Successful online will be subject to a additional three percent (3%) buyers premium.  SALES TAX: All items are subject to RI Sales Tax unless a copy of your resale certificate or a blanket exemption is received at time of invoicing. Auctioneer has not taken possession of Lot being offered at auction and is acting as an agent of Consignors only.

3) CONDITION/REPRESENTATION OF LOT SOLD: The Auctioneer and Consignor shall not be responsible for the accuracy or correctness of the description of the Lot. Descriptions in the catalog are opinion and not warranted as fact. Statements with the word condition are opinions and not statements of fact or guarantees. The Auctioneer and Consignor shall not be responsible for the authenticity of nor defect in any Lot and make no warranty or representation of any kind whatsoever either expressed or implied in connection with any Lot being sold or presented for sale.  No deductions, allowances, returns, credits, or reimbursements will be allowed for any Lot damaged.  All Lot is sold strictly “AS IS”, “WHERE IS”, “WITH ALL FAULTS” and without recourse.  No Lot sold or presented for sale is warranted as merchantable or fit for any specific or particular purpose or use. No warranties or representations are made concerning the reliability, condition of firing, fitness for use, safety to store of any firearm.  No claims may be made by any purchaser that relate to the fitness, use or condition of any Lot purchased or for any damages whether consequential or otherwise which arise therefrom. All firearms all sold “AS IS” “WHERE IS” with no right to return. All firearms are sold as collector lots only. Fitness to fire or otherwise discharge the arm or ammunition is expressly denied by Salvadore Auctions & Appraisals, Inc. A competent gunsmith should be consulted be attempting to use or fire any firearm.

4) METHOD OF PAYMENT: All checks, deposits, balances due shall be made payable to the order of Salvadore Auctions & Appraisals, Inc.  All bills and invoices must be paid to an authorized representative of the Auctioneer unless other arrangements, terms or procedures are announced.  The full purchase price, including Buyer’s Premium, appropriate Sales and/or Use Taxes on all lots sold must be paid at the conclusion of the auction. All payments must be made via cash, bank check, certified check or authorized credit card. NO PERSONAL CHECKS WILL BE ACCEPTED.

5) NO CREATION OF BAILMENT: The relationship between the Auctioneer, Salvadore Auctions & Appraisals, Inc and the buyer is not bailment.

6) REMOVAL & SECRUITY OF LOTS PURCHASED: THE SECURITY OF ANY LOT WON LIES WITH THE PURCHASER AND BEGINS WITH THE FALL OF THE HAMMER. All purchases must be removed by AT THE CONCLUSION OF THE AUCTION WITH THE EXCEPTION OF FIREARMS unless alternative time frame has been agreed to in writing by Salvadore Auctions & Appraisals, Inc and the bidder. BY BIDDING ON A FIREARM YOU AGREE TO TRANSFER POSSESSION TO UNIVERSAL FIREARMS AT THE FALL OF THE HAMMER.  All items must be removed immediatelyfollowing the conclusion of the sale. Lots may be removed during the sale with presentation of a properly endorsed invoice.  Unless agreed to in writing by the Auctioneer and the Purchaser, Auctioneer or his staff, employees or agents shall not assist in the movement, loading, removal or relocation of any Lot. Removal shall be at the soleexpense, risk, liability and responsibility of the purchaser.  Auctioneer shall not be responsible under any circumstances for any Lot not removed within the time allowed.  Auctioneer shall not be responsible for loss resulting from storage on or at auction site after conclusion of sale.  Failure to remove any Lot purchased by the conclusion of the auction shall be deemed to be abandonment of such Lot and Auctioneer shall be entitled to dispose of such Lot for its own account and in any manner it chooses.  All Lots left on the premises after the close of the auction are deemed abandoned. DELIVERY OF FIREARMS: All firearms will be delivered to the purchaser and released to the purchaser by Universal Firearms and not the Auctioneer. The decision to release any firearm at any time, whether within the mandated waiting period or not, rests solely with the FFL and not the Auctioneer. Responsibility to comply with any and all Federal, State or Municipal requirements, laws, registration, waiting periods and eligibility rests with the purchaser. Failure to meet eligibility requirements, NICS, Police, BCI or any other qualification, requirement or law will not nullify any sale of any firearm. ALL SALES FINAL.

7) INDEMNIFICATION: The undersigned agrees to hold the Auctioneer, Salvadore Auctions & Appraisals, Inc., and Consignors, along with their respective agents, officers, directors, shareholders, partners, members or affiliates harmless, now and forever, from and against all liabilities, claims, damages, or actions relating to or arising from the condition or use of the Lot purchased, or from the failure of the purchaser or user to conform to or follow instructions, warnings, operating or other recommendations of the manufacturer, or failure to comply with state, federal or local law(s) applicable to such articles, lots or items, or from any damages whether consequential or otherwise, and any and all costs or legal expenses arising from any liability, claim or action.

8) SALE BY ESTIMATED WEIGHT, COUNT OR MEASURE: Quantities presented in the auction catalog are estimations only and not warranted as fact.  No deductions or allowances will be made by the Auctioneer in regard to the inventory count of any item. 

9) RESPONSIBILITY OF NON- DELIVERY: Auctioneer shall not be responsible to any party for non-delivery by any third party or for the purchaser to remove any lot within the time allotted.

10) RISK ASSUMED BY PERSONS, BIDDERS AND PURCHASERS: All persons whether purchasers, attendees, or interested parties attending the sale or the inspection assume all risks of damage or loss to person and property and release the Auctioneer, Salvadore Auctions & Appraisals, Inc and its Consignors from any and all liability, now and forever.  The Auctioneer shall not be liable for any defect in or condition of the premises upon which the auction, inspection or move out is held.  All persons attending this sale do so at their own risk and hereby release the Auctioneer and its Consignors from any and all claims arising from attendance at this auction and hereby hold harmless the Auctioneer Salvadore Auctions & Appraisals, Inc. and its Consignors from all damages, costs, expenses and claims arising from any action or cause of action arising from this sale.

11) ADDITION TO/WITHDRAWAL FROM SALE, METHOD OF SALE: Auctioneer reserves the right to add or withdraw items, articles or lots from the sale whether listed or not, and reserves the right to group, split, combine or divide lots in to larger or smaller lots wherever the best interest of the Seller is served.  The Auctioneer reserves the right to accept or reject, for any reason, any and all bids. The Auctioneer reserves the right to bid on behalf of any Consignor.

12) DISPUTE BETWEEN BIDDERS: Auctioneer reserves the right to put up for resale or decide winner should a dispute among bidders arise.  The Auctioneer’s decision shall be deemed absolute and final.

13) RECORDS/AGENCY: The record kept by the Auctioneer or clerk shall be final in the event of dispute.

14) DEFAULT OF PAYMENT: Should purchaser default on payment for any reason or fail to pay bills in full by the conclusion of the auction and/or by failure to remove the Lot by the conclusion of the auction, Auctioneer shall be entitled to, and in addition to any and all other remedies under applicable law, retain all monies received as deposit, partial payment or otherwise as liquidated damages.  Any Lot not removed within the fixed time above may be resold at a future sale whether public or private sale without further notice.  All expenses, balances due, charges of resale, including reasonable attorneys’ fees and expenses incurred by the Auctioneer will be charges to and be the responsibility of the undersigned.

15) ADDITIONAL TERMS AND CONDITIONS: Auctioneer may add additional terms and conditions to the sale. Such terms shall take precedence.