• Terms of Sale
ALL BIDS ARE FINAL AT AUCTION. At auction there is no “cooling off period.” If you are awarded the final bid, ownership changes hands at the drop of the gavel. You own the merchandise and are responsible for payment in full. No bidder may retract a bid made during the sale for any reason.
• Buyer’s Fee
A buyer’s fee is an amount charged by the auctioning dealer (RM Auctions Arizona, Inc. or other affiliated company ‘RMA’) for conducting the auction sale. If your bid price is accepted as the winning bid on any lot, you will be charged a buyer’s fee in addition to the accepted bid price. The buyer’s fee is part of the purchase price and is subject to sales tax, if applicable. Buyer’s fee is 10% on all motor car lots, 15% on all other lots.
• Terms of Payment
Payment is due in full on or before 5:00 p.m. of the next business day following the auction, and payment is to be made to RMA (“payment deadline”). All payments must be in the form of cash or certified funds, unless other arrangements have been approved in advance. Cash payments will be reported according to U.S. federal government requirements. The title in a purchased lot will not pass until RMA has received the full purchase price in cleared funds. RMA is not obligated to release a lot to the purchaser until the title to the lot has passed, and any earlier release does not affect the passing of the title or the winning bidder’s unconditional obligation to pay the full purchase price (the purchase price is comprised of the winning bid, the buyer’s fee, and other approved costs). In the event that the winning bidder does not pay any portion of the purchase price by the payment deadline, the bidder agrees to and acknowledges the following:
- If RMA elects to pay the consignor any portion of the sale proceeds, RMA shall have all of the rights of the consignor to pursue the purchaser for any amounts paid to the Consignor, whether at law, in equity, or under these conditions of sale.
- The bidder hereby authorizes RMA to deduct the purchase price from the bidder’s cash deposit, or to charge this amount to the credit card that the bidder has provided.
- If the bidder’s cash deposit and/or credit card payment does not cover the purchase price, in addition to other remedies available by law, RMA reserves the right to impose from the date of sale a late charge of 10 percent interest per annum on the (1) purchase price; (2) maximum published seller’s commission; (3) maximum published buyer’s fee; (4) expenses; (5) any collection costs, attorney fees, and court costs incurred to enforce payment; and (6) other damages.
• Conditions of Sale
All sales are ‘as is’ and ‘where is’. Bidder is responsible for inspections and verification of condition, authenticity, and completeness of any vehicle or lot purchased. No warranties of any type whatsoever are made by RM Auctions Arizona, Inc. Statements printed in catalogue brochures, signs, and window cards, and verbal statements made by auctioneers or auction staff are representations made by the Consignor and RMA has no obligation to verify or authenticate any such claims or representations. Any announcements made at time of sale supersede any earlier printed information. Except as herein provided, all vehicles are sold as is, where is, with no representations or warranties, expressed or implied. SELLER AND RM AUCTIONS ARIZONA, INC. DISCLAIM ALL WARRANTIES, EXPRESSED OR IMPLIED AS TO CONDITION, ORIGINALITY, OR AUTHENTICITY, ORIGIN OR PROVENANCE, PREVIOUS USE OR OWNERSHIP, MANUFACTURING OR RESTORATION PROCESSES, YEAR OR AGE, SERIAL NUMBER, MAKE, MODEL, OPTIONS, TOOLS, OR MILEAGE OF ANY VEHICLE OR COMPONENT OF ANY VEHICLE, AND SPECIFICALLY DISCLAIM ANY WARRANTIES OF MERCHANTIBILITY OR FITNESS FOR ANY PARTICULAR PURPOSE.
• Risk of Loss
Bidder is responsible for all risk of loss or damage immediately upon purchase of the vehicle or item, which occurs at the time of sale when bidder is declared by the auctioneer to have the successful bid. All vehicles or items purchased must be removed from the auction site at the bidder’s expense immediately following the sale. If not removed by the end of the day following the sale, RMA will remove the vehicle or item with all costs of moving and storage to be paid by the bidder.
• Other Terms
Vehicles not marked as “no reserve” (or similar) are subject to a reserve bid set by the Consignor. When a vehicle is sold subject to such a reserve bid the auctioneer may bid on the Consignor’s behalf in an amount not to exceed the amount of the reserve bid.
Bidder is responsible to pay all city, state or other taxes due for which the buyer does not qualify as exempt. Proof of exemption is bidder’s responsibility.
Any and all terms of sale posted on the auction premises, printed in sale brochures or forms, posted on our website (www.rmauctions.com), publicly announced, or otherwise published are incorporated herein by reference.
In the event either party brings action against the other from or relating to this bid card or any auction held in connection herewith, the prevailing party as, determined by the court, shall be entitled to recover its reasonable attorneys' fees and costs. The law of the state in which the auction is held shall govern the provisions of this bid card. Jurisdiction for any action brought shall lie exclusively in a court of competent jurisdiction in the judicial district in which Phoenix, Arizona is located.
You are responsible for all bids made with this bidder number, whether or not made by you and whether or not authorized by you. If your bidder card is lost or stolen, immediately report same to RMA as all bids made with this bidder number will be your responsibility.
