Lot #591Convertible Lounge Futon Sofa Bed w/ Adjustable Back & Tufted Design

AUCTION TERMS AND CONDITIONS

All placed bids are binding contracts. BidCOL (hereinafter referred to as Auction Co.) at its sole discretion, may ban from further use any buyer or seller which Auction Co. believes to have in any way misrepresented itself or any item selling, failed to abide by the terms, or conducted any improper auction behavior as determined solely by Auction Co. Any seller who misrepresented their item or any buyer who improperly fails to carry through with a purchase will be banned from any further use and may be subject to additional legal actions. 

POSTED CLOSING TIMES

Auction Co.'s current closing times are approximate. Auction Co. reserves the right to close early or extend auctions at any time at its discretion. It is strongly recommended that bids be placed early to avoid losing to a last minute bid. All times are based on the Time Zone where the auction is located.

BID EXTENSIONS

If a bid is placed on an item within the last 5 minutes the ending time will be extended by 5 minutes, not to exceed 9 minutes. Example - An item is bid on at 7:55pm and is scheduled to end at 8:00pm. When this bid is placed the ending time will automatically extend to 8:05pm. If another bid is placed at 8:01 the auction will extend until 8:14pm. The ending time will not extend again unless another bid is placed after 8:05pm. 

PAYMENT

BIDDER is responsible for paying for their winnings upon pickup.  Note that the purchase price is the sum of the bid price, buyer’s premium, and sales tax when applicable.

LIQUIDATED DAMAGES FEE

Failure/refusal to remove items in the alotted timeframe will result in a liquidated damages fee equal up to 20% (or minimum of $25.00) of total purchase price during the auction or immediately following the auction. Liquidated damages fee is assessed based on damages to be recovered by Auction Co. 

BUYER’S PREMIUM

A buyer's premium is a percentage added to the winning bid amount payable by the buyer used to help cover the auction's administrative costs. A fixed buyer’s premium of 13% will be added to ALL purchases.

ITEM PICKUP

All auction winnings must be paid for and picked up in a timely manner. Pickups are by appointment only.  BidCOL Auction pickup is located at 657 Harrisburg Pike, Columbus, Ohio 43223.  Pickup days are Friday, Saturday, and Monday between 11:00am and 6:00pm following the Thursday auction ending.  Auction Co. will gather all winnings and bring them to the buyer after payment has been secured. Auction Co. will assist in loading if nesseccary but reserves the right to refuse. Fork lift is available on site for loading pallet purchases. Auction Co. is not responible for any damages to personal property during loading process. Please arrive in appropriate vehicle to pick up winnings. Buyer is responsible for securing their loaded vehicle, Auction Co does not provide any straps, tie-downs, or weatherproofing materials. 

REMOVAL, FAILURE TO REMOVE &/or FAILURE TO PAY

All purchases must be removed from the auction site without damaging any property and within the allotted pickup days for the current auction. If for any reason buyers fail to remove any purchases within the time specified, the Auction Co. shall have the right but not the obligation, in its sole discretion, to resell, discard or remove and store said purchase at buyer’s expense (storage costs will be charged - per day - per item - other costs additional), without waiving any rights that Auction Co. or seller may have against buyer. Storage charges will be the responsibility of the buyer (after removal period.) If the purchases have not been paid in full and removed within the time period announced, BIDDER explicitly authorizes the charging of his or her credit card for the liquidated damages fee which are applied when bidder/buyer’s invoice(s) are not paid in full within 7 days of auction date.  

Liquidated damages fee will equal up to 20% (or minimum of $25.00) of total purchase price during the auction or immediately following the auction. Note that the purchase price is the sum of the bid price, buyer’s premium, buyer's fee, and sales tax if applicable. 

SALES TAX

All bidders will be subject to the Ohio 7.5% sales tax unless you provide our office with an exemption certifcate. NOTICE: Out-of-state buyers and out-of-country buyers must pay sales tax on all items including titled items. (Unless stated differently in the auction terms) 

SELLER BIDDING

The SELLER, their agent, or the Auction Co. RESERVE THE RIGHT TO BID on the seller's item in order to protect their investment. The auction company, in bidding for the seller as their agent, will only bid on items that require a minimum amount in order to be sold. 

SELLER FEES

The SELLER agrees to pay the Auction Co. all fees as outlined in the contractual agreement between seller and the Auction Co. 

TERMS

All items sell AS IS - WHERE IS WITH ALL FAULTS and with no warranty of any type expressed or implied as to the merchantability or fitness for any particular purpose of any goods offered in this sale. All sales are made on an AS IS - WHERE IS WITH ALL FAULTS basis.  No bids can be withdrawn after the auction for any reason. BUYER agrees that these terms as well as all other terms set forth below, can be amended or revised only in writing, signed by the auctioneer. BUYER also agrees that any oral representation made by the auctioneer shall not modify these "AS IS - WHERE IS WITH ALL FAULTS" terms. BUYER understands that any description given in the catalog or written on the equipment is not guaranteed. All information and descriptions contained in advertising this sale are believed correct, but no responsibility is assumed by Auction Co, or Seller for any errors or omissions. Inspection of auction items available upon request. 

 AUCTION CO.'s RIGHT TO TERMINATE PURCHASE

If for any reason Auction Co. is unable to complete the sale of any purchase to buyer or provide such purchase free and clear of liens, even if the buyer was given notice that he is the high bidder and purchaser, Buyer agrees that the Auction Co. may terminate the purchase/agreement, in which case Auction Co.'s only liability shall be the return of any monies actually paid by buyer. 

THIS SITE AND THE INFORMATION, CONTENT, AND MATERIALS ON THIS SITE ARE PROVIDED ON AN “AS IS,” “WHERE IS,” AND “WHERE AVAILABLE” BASIS. PROVIDER MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, AS TO THE OPERATION OF THE SITE, THE CONTENT, INFORMATION, OR THE MATERIALS ON THIS SITE. TO THE FULLEST EXTENT PERMISSIBLE UNDER APPLICABLE LAW, PROVIDER EXPRESSLY DISCLAIMS ALL WARRANTIES, EXPRESSED OR IMPLIED, OF ANY KIND, WITH RESPECT TO ANY OF THE MATERIALS, CONTENT, OR INFORMATION ON THIS SITE OR ANY GOODS OR OTHER PRODUCTS OR SERVICES OFFERED, SOLD, OR DISPLAYED ON THIS SITE OR YOUR USE OF THIS SITE GENERALLY, INCLUDING WARRANTIES OF MERCHANTABILITY, ACCURACY OF INFORMATION, QUALITY, TITLE, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. SOME JURISDICTIONS LIMIT OR DO NOT ALLOW THE DISCLAIMER OF IMPLIED OR OTHER WARRANTIES SO THE ABOVE DISCLAIMER MAY NOT APPLY TO THE EXTENT SUCH JURISDICTION’S LAW APPLIES TO THIS AGREEMENT. 

YOU AGREE THAT PROVIDER AND ITS PROVIDERS SHALL NOT BE LIABLE FOR ANY DAMAGE, LOSS, OR EXPENSE OF ANY KIND ARISING OUT OF OR RESULTING FROM YOUR POSSESSION OR USE OF THE MATERIALS, CONTENT, OR INFORMATION ON THIS SITE OR FROM YOUR PURCHASE OR SALE OF GOODS THROUGH THIS SITE REGARDLESS OF WHETHER SUCH LIABILITY IS BASED IN TORT, CONTRACT, OR OTHERWISE. IN NO EVENT, INCLUDING, WITHOUT LIMITATION, A NEGLIGENT ACT, SHALL PROVIDER OR ANY OF ITS PROVIDERS BE LIABLE TO YOU FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES (INCLUDING, WITHOUT LIMITATION, LOSS OF PROFITS, LOSS OR CORRUPTION OF DATA, LOSS OF GOODWILL, WORK STOPPAGE, COMPUTER FAILURE OR MALFUNCTION, OR INTERRUPTION OF BUSINESS), ARISING OUT OF OR IN ANY WAY RELATED TO THE MATERIALS, CONTENT, OR INFORMATION ON THIS SITE OR ANY OTHER PRODUCTS, SERVICES, OR INFORMATION OFFERED, SOLD, OR DISPLAYED ON THIS SITE, YOUR USE OF, OR INABILITY TO USE, THIS SITE GENERALLY, OR OTHERWISE IN CONNECTION WITH THIS AGREEMENT, REGARDLESS OF WHETHER PROVIDER OR ANY OF ITS PROVIDERS HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. BECAUSE SOME STATES DO NOT ALLOW THE LIMITATION OF LIABILITY FOR CONSEQUENTIAL OR INCIDENTAL DAMAGES, THE ABOVE LIMITATION MAY NOT APPLY TO YOU.