AUCTION TERMS AND CONDITIONS
All placed bids are binding contracts. BidOKY (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.
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.
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.
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.
All auction winnings must be paid for and picked up in a timely manner. Pickups are by appointment only. BidOKY Auction pickup is located at 411 Commerce Drive, Owensboro, Kentucky 42303. Pickup days are Thursday, Friday and Monday between 10:00 am and 5:45 pm following the Wednesday 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.
All bidders will be subject to the Kentucky 6% 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)
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.
The SELLER agrees to pay the Auction Co. all fees as outlined in the contractual agreement between seller and the Auction Co.
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.
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