ONLINE ONLY AUCTION
Preview: By Appointment Only
15% Buyers Premium Will Be Added To Your High Bid Price
NO REMOVAL ON AUCTION DAY!
Removal Days & Times:
3% Merchant Services Fee Added To All Credit Card Purchases
A valid drivers license and proof of insurance required for the purchase of any DMV titled sale. In addition, all applicable sales tax and DMV transfer fees will be added to winning bidders invoice.
All items, property or product offered for sale ("Items", "Property", "Product") are offered by TMC Auction (“Agent”), as an agent of the Property owner (“Seller”), subject to the following general terms of sale (“General Terms of Sale”), which, combined with any supplemental or revised terms posted in materials, on the web or as announced by Agent at the time of sale (“Sale Specific Terms”), make-up the complete and entire Terms of Sale (“Terms of Sale”) that govern any sale by Agent to a Buyer. References to “Landlord(s)” throughout these terms shall be defined to include the property owners of each sale location upon which Items are located (“Sale Site”).
1. Registration, Deposit and Payments.
All persons participating in the Sale, whether or not successful at purchasing Property, (referred to as a “Bidder” or “Buyer”) must register to become eligible to participate in the Sale, and must provide complete and accurate information as required by Agent. This information may be used as necessary to ensure Buyer’s fulfillment of its obligations as defined herein. Information obtained at the time of registration will also opt Buyer into Agent’s sale notification system, which may be opted out by following the instructions at the bottom of each Sale notice. Buyer’s information will not be sold, or otherwise shared with other companies, with the exception of the Seller and, in the case of a legal sale, to those parties as may be dictated by the rules governing the sale process.
In order to qualify to bid, Buyer must provide Agent with an initial deposit of 25% of Buyer’s anticipated purchases, but in no event less than the amount posted in the Sale Specific Terms (“Initial Deposit”). The initial deposit must be provided in the form of cash, cashiers’ check (made payable to (“TMC Auction & Realty”), wire transfer or by a check accompanied by bank letter of guarantee deemed acceptable by Agent, unless posted otherwise in the Sale Specific Terms (“Acceptable Payment Forms”). Initial Deposits will be refunded upon request and provision to Agent of Buyer's deposit receipt, provided no purchases of Items are made. In the event Buyer fails to pay the entire purchase price by the payment deadline and/or remove all items in the timeframes allotted, the 25% deposit will become non-refundable and buyer may be charged additional fees as liquidated damages. Deposit refunds must be claimed within 30 days of the date of the Sale with a proper Deposit receipt, or otherwise shall be deemed as forfeited.
International buyers, please see sale specific terms for deposit requirements.
Buyers participating online must provide the Initial Deposit 24 hours prior to the Sale. TMC Auction may not be able to respond to registration requests on the day of sale. Credit cards may be accepted for the Initial Deposit from online Buyers up to and during the sale on the following conditions: 1) Buyer grants Agent the irrevocable right to authorize Buyer’s credit card for the minimum deposit and such subsequent amounts necessary to secure Buyer’s purchases; 2) Buyer grants Agent the irrevocable right to capture the authorizations on Buyer’s credit card to secure Buyer’s purchases; 3) Buyers acknowledges that a credit card authorization shall not be sufficient to secure purchases over $10,000, and therefore shall provide any additional deposit necessary in one of the other Acceptable Payment Forms 24 hours prior to the Sale; 4) Buyer acknowledges and accepts that credit card authorizations are subject to a 3-7 day hold on funds with Buyer’s credit card company, which hold is not under the control of Agent to release.
Upon Buyers’ successful award of bid, Buyer shall be immediately responsible for 25% of their total purchased Items as a non-refundable deposit (the “Deposit”), in one of the Acceptable Payment Forms. Buyers who have provided a credit card for the initial deposit hereby authorize Agent to charge their credit card for the 25% Deposit. Agent’s election not to collect the 25% Deposit, pending full payment, does not waive Buyer’s obligation to such amount in the event of default, nor does it waive Agent’s right to process Buyer’s credit card for the 25% Deposit at a later date.
Unless posted otherwise in the Sale Specific Terms, Payment of the Balance Due (“Final Payment”) is required by 12:00 noon on the day following the Sale. Final payments must be made in one of the Acceptable Payment Forms or, if allowed per the Sale Specific Terms, by Visa or MasterCard. Unless alternative arrangements have been acknowledged and accepted by Agent prior to the conclusion of the Sale, Online Buyers hereby authorize Agent to process the payment for the balance of their purchased Items using the credit card provided. However, Buyers spending in excess of $10,000 must provide an alternate Acceptable Payment Form for the portion of Buyer’s purchases exceeding $10,000. Buyers paying by credit card hereby waive their rights to chargeback.
All Deposits and payments must be made in U.S. Dollars. IRS regulations require us to report all cash payments, as defined by the IRS, exceeding $10,000 from any one purchaser for one transaction or two or more related transactions. When accepted, business checks must be accompanied by a bank letter, drawn on a bank which is acceptable to the Agent, which states that the bank will guarantee payment up to a specified amount (this letter must contain the words “guarantee payment”). Buyer authorizes Agent to complete and deposit signed checks provided to Agent without the dollar amount.
2. Buyer’s Premium. A Buyer’s premium will be added to the price of each item purchased. See each sale’s listing on the tmcauction.com website for the specific buyers’ premium rate to be charged. Buyers’ premium rates may vary based on method of purchase (i.e. live vs. online).
3. Taxes. When required by law, Agent shall collect and Buyer shall pay all sales/use taxes or other applicable taxes, which will be added to the purchase price, including the Buyers’ premium, on all purchased items. PRIOR TO THE CLOSE OF THE SALE, Buyers who purchase for resale must fax or email to Agent documentation to prove their exemption status, including, but not limited to, their resale permit and a completed and signed resale certificate form, without which all applicable taxes will be charged by Agent. Buyers purchasing from out-of-state are required to provide a Bill of Lading proving that the purchased Items are being transported directly out-of-state by a common carrier. Sales/use taxes will be refunded in full to Buyers who prove their qualified exemptions as described above at the time documentation deemed acceptable by Agent is received by Agent, provided such information is submitted within 7 days of the Sale closing. TMC Auction reserves the right to reject any claim for sales tax exemption that it believes to be insufficient to satisfy the scrutiny of the applicable taxing authority. Buyer’s obligation to make payment, in full, for all items purchased, is not contingent upon or subject to any determination by TMC Auction regarding Buyer’s sales/use tax exemption status or the timely notice in which Buyer’s sales/use tax exemption status is provided to the Buyer.
4. Bidding. Agent reserves the right to add to, group, withdraw, re-catalog items in all Sales, or to sell in any order Agent deems suitable, as well as adjust minimum bids and/or reserve prices and extend or shorten closing times. In the event there is a dispute between two or more claims of entitlement as the successful bidder, Agent reserves the right to resell the item(s) in dispute. Agent reserves the right to hold all bulk bids in abeyance and at the conclusion of the sale or after the offering of a specific item, to accept either the bulk bid or the aggregate of the individual bids received during the sale, whichever is higher. Agent reserves the right to reject any bid which is only a fractional advance over the preceding bid or which is not commensurate with the value of the lot. Some of the items offered may be subject to a reserve price (minimum allowable selling price).
Buyers participating online are responsible to confirm submittal of online bids for accuracy. When offered, Internet bidding is provided via a 3rd Party Bidding System. Under no circumstances shall Buyer hold Agent liable for system failures resulting in Buyer’s bid not being properly submitted. All bidding and subsequent transactions shall be in U.S. dollars.
5. Representations. Agent makes every effort to provide accurate information about the items being sold; however in no other way is accuracy of same guaranteed by Agent. Neither Seller nor Agent will assume responsibility for Buyer’s bidding errors. Buyers shall be deemed to have relied entirely upon their own inspections and investigations. Buyers are recommended to inspect all items. When provided, descriptions, photos, conditions, dimensions, etc. are offered as a guide only. In certain cases, a photo of like product may be used to represent several different lots. Photos may also capture nearby items not listed as part of the lot. Agent shall not be held responsible for such errors as posting the wrong photo, description, condition, dimension, etc. for an item. When in doubt, please physically inspect or bid accordingly.
6. Vehicle Titles. Where applicable, vehicle title documents, which are in the possession of the Auctioneer, will be provided to the buyer within five (5) business days following the sale, or as soon thereafter as such documents become available.
7. All Sales are Final. A successful bid at Auction, whether live or online, constitutes acceptance of the Terms of Sale and is a legally binding contract of sale. All sales are final. There will be no refunds, returns or exchanges.
8. Removal of Items Purchased. See Sale specific information regarding removal dates, deadlines and conditions. No checkout wi...