Download the Invaluable app and never miss an auction from your iOS or Android device.
ANY ONE OF THE FOLLOWING CONSTITUTES YOUR ACCEPTANCE AND AGREEMENT TO BE BOUND BY THIS CONTRACT: (1) REGISTERING FOR AN AUCTION; (2) PLACING A BID; (3) VIEWING SELLER'S AUCTIONS; (4) "FOLLOWING" SELLER; (5) USING ANY OF SELLER'S PAGES ON THIS WEBSITE.
Please note that in case of conflict between this Auction House Contract and the Website Terms and Conditions, the provisions most favorable to Seller shall control.
1. MEMORANDUM OF SALE.
Your placement of any bid on a Lot is an irrevocable offer to purchase the Lot at your highest bid on that Lot. If Seller accepts your bid as the winning bid, a Memorandum of Sale shall be deemed, as follows:
• Our electronic record of your account registration is incorporated into the Memorandum of Sale as the name(s) and address(es) of the purchaser(s). All accounts registered to an entity include, as a party to this Memorandum of Sale, all natural persons listed in the account registration and/or placing a bid using the account. Each party is jointly and severally liable.
• The name of the Seller is Confiscated Assets Auctioneers. A reference to the Seller includes the company, its representatives, officers, directors, stockholders, members, managers, employees, consultants, agents, and affiliates.
• The lot descriptions and photographs displayed with our listing are incorporated into the Memorandum of Sale as the description of property sold (the Lot).
• The Purchase Price is equal to (i) the winning bid, as shown by our electronic record; (ii) a non-refundable buyer's premium of eighteen percent (18%) of the winning bid; (iii) a 3-5% processing fee for all credit cards; (iv) flat-rate FedEx or USPS shipping, insurance, handling, and signature fees; and (v) any applicable taxes, levies, duties, or other such fees (you must provide prompt certification of any resale or other exemption from tax). The Purchase Price is incorporated into the Memorandum of Sale as its statement of price.
• Our electronic record of your highest bid on the Lot is incorporated into the Memorandum of Sale as the statement of price.
• Our terms of credit are as follows: All invoices are due within fifteen (15) days of the invoice date, even if subsequently reduced. All liabilities are due within fifteen (15) days of their incurrence, whether or not invoiced. Any unpaid invoice or liability may be submitted to collections sixty (60) days after its date and/or for legal action one-hundred twenty (120) days after its date. You are liable attorney fees for collection, litigation, arbitration, or appeal, and all other fees, costs, and expenses of collections, litigation, arbitration, or appeal. All invoices and liabilities shall accrue interest at the rate of 1.5% per month after their due date (or the maximum statutory rate, if the maximum rate allowed by statute is less).
• The terms and conditions of the Contract are incorporated into the Memorandum of Sale. In cases of conflict, any special terms and conditions of listing, and then our Auction House Contract, and then this Memorandum of Sale, shall control. Without limitation, the following apply:
o Seller has no obligation to ship the Lot to you in the event of nonpayment or a chargeback dispute. Shipping typically occurs within fifteen days after Seller's receipt of payment, but Seller is not liable to you for delays that are brief or beyond Seller's control.
o If you fail to pay your invoice when due, initiate a chargeback, or request permission to return the Lot, Seller may (a) obtain specific performance of your obligation to purchase the Lot and/or refuse any request to return; or (b) cancel your bid and obtain from you liquidated damages of forty percent (40%) of your winning bid.
o You agree that liquidated damages cover restocking, the buyer's premium, shipping and handling, processing fees, relisting, storage, auction costs and losses, and other damages. You agree that such amount is not a penalty but is a reasonable estimate of damages to avoid the inconvenience and difficulty of Seller obtaining an adequate remedy.
o We generally accept bank wire transfers, personal or company check, cashier's check, money order, Visa, MasterCard, Discover and American Express. For items purchased online, you will be emailed an invoice within 24 hours after the auction. This email provides a link that allows you to pay immediately and securely online. It is your responsibility to contact Seller at (772) 337-5515 or email Seller at [email protected] if you are unable to pay through our online check-out system. If paying by check, money order, or cashier's check, Seller reserves the right to hold all purchases until the check has cleared to the satisfaction of Seller and its bank. In some cases, Seller may decline the method of payment elected by you and require a different or specific form of payment.
o All sales are final and as-is. You acknowledge that Seller has provided adequate opportunity for you to inspect the Lot and that you have not relied on any representations or warranties made by or on behalf of Seller. You hereby indemnify and hold harmless Seller and assume for yourself the entire risk of losses, damages, demands, and/or legal proceedings that may in any way arise from or relate to: (a) any error or omission in any listing, description, photograph, appraisal, estimate, evaluation, representation, or warranty of or about the Lot that may be provided to you by Seller or any other person; (b) your purchase, resale, gift, or other use or disposition of the Lot; and/or (c) any products liability or defects, latent or otherwise, or the physical condition of any items or lots purchased or any law, regulation or standard applicable thereto.
o All risk of loss from fire, theft, storage, removal, shipping, or any other cause passes from Seller to the winning bidder upon the fall of the hammer (or expiration of time in an online auction). It is your responsibility to insure against the risk of loss while your lot is in Seller's possession, during shipment, or otherwise. In the event that Seller is nevertheless found liable to you for any damage, loss, or failure to deliver, Seller's liability shall be limited to a refund of amounts actually paid by you to Seller for the item(s) lost, damaged, or not delivered.
o IN ANY DISPUTE WITH SELLER, YOU WAIVE THE RIGHT TO A JURY TRIAL. Any dispute with Seller will be resolved by binding arbitration before an impartial Arbitrator selected by Seller and held in accordance with the Consumer Arbitration Rules of the American Arbitration Association, applying the law of ___________________. Seller may enforce any settlement or award in any court of competent jurisdiction.
o You agree not to initiate any chargeback dispute against Seller prior to exhausting arbitration and that any initiation of a chargeback dispute after an arbitration award favoring Seller will constitute fraud. You agree to pay liquidated damages in the amount of $2,500 in the event you file a chargeback dispute in breach of this clause, which is not a penalty but a reasonable estimate of Seller's costs, fees, and expenses of responding to your chargeback dispute. Seller may enforce this clause in arbitration or, without waiving arbitration, in any court of competent jurisdiction.
• Our electronic record of the placement of your winning bid constitutes your execution of the Memorandum of Sale.
• The date on which your bid is accepted as the winning bid shall be incorporated into the Memorandum of Sale as its effective date.
2. AUCTION RULES
Bids cannot be withdrawn, although you can raise your bid. Bids made in error or by someone else using your account are your responsibility and cannot be withdrawn. Seller is not responsible for any Website, internet, or other failures that interfere with the placement or receipt of any bid. Seller may set confidential reserve prices and, in Seller's sole discretion, determine that an auction has no winner if no bid exceeds the reserve price. Seller may, but need not, place its own bids not to exceed the reserve price. Seller may withdraw a lot from auction at any time prior to accepting a winning bid. Nothing in the listing shall be construed to indicate a reserve price. Seller may in its sole discretion exclude any bidder or disregard any bid and instead accept the next highest bid as the highest bid. The winning bidder is the highest bid accepted by Seller. The online display showing the highest bid does not represent acceptance by Seller - no bids have been rejected by Seller until Seller determines the winning bid. Seller determines the winning bidder in Seller's sole discretion, and Seller has the authority to resolve any disputes between bidders. In case of an error by Seller or the auctioneer, Seller may in its sole discretion cancel the sale and relist the Lot. You indemnify and hold harmless Seller from and against any losses, damages, claims, and legal proceedings that may arise from or relate to the Seller's application of a reserve price, withdrawal of any lot, determination of the winning bid, relisting, or resolution of any dispute between bidders.
All items are sold AS IS, WHERE IS WITH ALL FAULTS. ALL SALES ARE FINAL - NO REFUNDS AND NO EXCHANGES.
SELLER DISCLAIMS ANY AND ALL WARRANTIES, EXPRESSED OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE. NO WARRANTIES ARE MADE THAT ANY OF THE MERCHANDISE COMPLIES WITH ANY APPLICABLE GOVERNMENTAL RULES, REGULATIONS OR ORDINANCES OF ANY KIND OR NATURE WHATSOEVER.
A listing or other visual, written, or oral descriptions provided by Seller may include a catalog of the lot and information about the authenticity, age, condition, materials, origin, manufacture, brand, appraisal, estimation, evaluation, or other features of the items offered for sale. Such information is not a representation or warranty. Such information is provided for convenience only - to help potential bidders identify lots in which they might be interested. Seller disclaims any representation or warranty that the information provided to you is free from error or omission.
You acknowledge that you are not relying on any representations or warranties made by Seller or any other person. It is your responsibility to examine items offered for sale, consult with experts of your own choosing, and arrive at an independent judgment about such items prior to placing any bid. If you require absolute certainty about any item offered for sale, do not bid on the lot in question. BY PLACING A BID, YOU ASSUME ALL RISKS.
4. ACCOUNT SECURITY
All registered accounts require that at least one natural person is listed as party jointly and severally liable for all bids and other liabilities and obligations without the requirement that remedies be exhausted against any other person. By registering for an auction, you accept these terms. MAINTAIN REASONABLE SECURITY MEASURES. DO NOT GIVE OTHERS YOUR PASSWORD. DO NOT ALLOW OTHERS TO USE AN ACCOUNT YOU CREATE. YOU ARE PERSONALLY LIABLE FOR THEIR BIDS AND ALL SUBSEQUENT LIABILITIES AND OBLIGATIONS.
Please contact Seller immediately if you have concerns about unauthorized or erroneous use of your Account.
5. PROHIBITED BIDDING PRACTICES
Bids must be good faith offers to purchase, made by competent persons financially capable of payment, and made by persons not prohibited by law from purchasing or obtaining the items offered for sale. Bids that violate these requirements are prohibited and may result in exclusion from auctions, cancellation of your account, and legal action. Engaging in a prohibited bidding practice shall constitute confession of fraud and liability for actual, consequential, exemplary, and punitive damages.
6. CONSENT TO COMMUNICATIONS
By subscribing or following us, you consent to receive invoices, notices, and other communications about your purchases and contracts with us via email, which shall constitute effective notice. Additionally, you consent to receive all other communications from Seller and our affiliates, including commercial communications. To unsubscribe, email ________________. You will still receive invoices, notices, and other communications about your purchases and contracts with us.
8. LIMITATION OF LIABILITY
IN NO CIRCUMSTANCES SHALL SELLER BE LIABLE TO YOU FOR ANY SPECIAL, INDIRECT, INCIDENTAL, CONSEQUENTIAL, STATUTORY, PUNITIVE, EXEMPLARY, OR ANY OTHER DAMAGES EXCEPT FOR DIRECT DAMAGES, WHETHER ARISING IN TORT, EQUITY, CONTRACT, LAW, OR OTHERWISE, AND WHETHER OR NOT NEGLIGENT, RECKLESS, OR INTENTIONAL. FURTHERMORE, SELLER'S MAXIMUM LIABILITY TO YOU FOR ANY LOSS, CLAIM, DAMAGE, ATTORNEY FEE, PROCEEDING, OR OTHER LIABILITY ARISING IN RELATION TO ANY LOT SHALL BE FOR A REFUND OF ANY AMOUNTS ACTUALLY PAID BY YOU TO SELLER TOWARDS THE PURCHASE PRICE OF THAT LOT. SELLER'S MAXIMUM LIABILITY TO YOU FOR ANY LOSS, CLAIM, DAMAGE, ATTORNEY FEE, PROCEEDING, OR OTHER LIABILITY THAT DOES NOT ARISE IN RELATION TO ANY LOT SHALL BE A MAXIMUM OF $1,000.
9. TERM AND SURVIVAL
The Term Contract continues so long as you hold an account or a registration for an auction, place any bid, view any auctions, remain on Seller's mailing lists, use any of Seller's pages or services, or owe any amount to Seller. No disclaimer, indemnity, release, or limitation of liability in favor of Seller shall expire. No right of Seller to accrue and recover payment of any amount described hereunder shall expire.
If any provision of these terms and conditions or of any listing be void, unlawful or unenforceable under applicable law, that provision shall be modified to the minimum extent possible to comply with applicable law, or if modification is not possible, deleted and severed from the remaining provisions. Any such modification, deletion or severing shall not affect the enforceability or validity of any of the remaining provisions.
11. WAIVER AND AMENDMENT
The Contract cannot be waived by delay, but only by a written agreement of Seller to waive a specific right or obligation. The Contract can be modified or amended only by Seller, and Seller may do so by posting updated terms and conditions online. It is your responsibility to check for updates - by continuing to place bids or otherwise use Seller's pages or services, you agree to all changes.
All items will be shipped insured by Fedex or USPS at buyers expense within 10 business days following clearance of funds.
Florida State residents will be charged a 7% sales tax on taxable items.