Fair Value Auctions, llc (AKA FVA): Buyer Terms
In simplified form, Fair Value Auctions, LLC., offers the following Terms of Service for BUYER/BIDDERs as a matter of policy:
ALL BUYERS MUST REGISTER AND AGREE TO THE TERMS AND CONDITIONS PRIOR TO BIDDING.
THERE ARE SOME DIFFERENCES BETWEEN ON-LINE, HYBRID AND LIVE AUCTIONS. WHERE AN AUCTIONEER IS PRESENT AT A LIVE AUCTION, THE AUCTIONEER HAS MORE DISCRETION SUCH AS BREAKING DOWN LOTS AND OR CHANGING LOT SIZES. SUCH VARIABLES ARE IDENTIFIED WITHIN THESE TERMS BY THE USE OF THE TITLE AUCTIONEER.
1.All purchases must be paid in full within 72 hours of the auction closing. Acceptable methods of payment are cash, debit card, cashier’s check, MasterCard, Visa, Discover cards or wire transfers. No Credit Card purchases over the phone for more than $200.00. Checks from local banks (only) may be accepted for amounts less than $1,000 without prior approval. NSF checks may be prosecuted and/or bidding privileges will be suspended at the discretion of FVA.
Titled vehicles require CERTFIED FUND PAYMENT (cash, debit card, cashiers check from bank institution). Money orders are not accepted. Payments by credit card will have an additional 5% buyer premium. Payments received after close of business on the third business day following the auction will be charged a 10% late payment fee with a minimum charge of $2.50 and a maximum fee of $25, unless arrangements are made between buyer and FVA prior to the auction closing.
LEGAL NOTICE: There is a 15% default penalty with a minimum of $500 that will be charged to the buyer for non performance of the purchase. Have your financing and inspections done prior to bidding. FVA and/or Sellers reserve the right to pursue legal remedy within 10 days. By placing a bid, the bidder understands it cannot be retracted and agrees to this Legal Notice.
- No sale shall be invalidated by reason of any defect of the lot or inaccuracy in any of the lots by reason of their being incorrectly described in the catalog or elsewhere and no liability shall be by FVA or Affiliate Auctioneers in respect of any such faults or errors. Catalogs have been prepared only as a guide based on information from sources generally believed to be reliable and from the consignor but the accuracy thereof cannot be guaranteed or warranted by the FVA or presiding Auctioneer. Bidder acknowledges that it is his responsibility to inspect all equipment and to make his own inquiries.
- Unless prior arrangements are made, miscellaneous items left after 7 days following Purchaser’s payment will be considered abandoned and sold for storage. Titled vehicles will be charged $25.00 per day following the Auction. Vehicles left outside the security gate longer than 1 week following the auction will be towed at owners’ expense.
- The highest bidder shall be the purchaser and no bidder shall retract his bid.
ALL BIDS ARE MADE IN U.S. DOLLARS. PROXY BIDS (written absentee bidder commitments to their highest offer) will be allowed prior to the day of the auction, in both on-line and live auctions.
Your bid must adhere to the following bid increment schedule:
Bid Amount Bid Increment
0.00 – 25.00 1.00 USD
25.01 – 50.00 5.00 USD
50.01 – 250.00 10.00 USD
250.01 – 500.00 20.00 USD
500.01 – 1,500.00 50.00 USD
1,500.01 – 2,500.00 100.00 USD
2,500.01 – 7,500.00 100.00 USD
7,500.01 – 10,000.00 150.00 USD
10,000.01 – 15,000.00 200.00 USD
15,000.01 – 20,000.00 250.00 USD
20,000.01 – 9,999,999.90 500.00 USD
All sales are final.
If the Auctioneer determines that any bid is not commensurate with the value of the article offered, he may reject the same and withdraw the item from the auction, and having acknowledged an opening bid, he decides that an advance is not sufficient, he may reject the advance. Auctioneer reserves the right to bid on behalf of Buyers and/or Secured (PROXIE) parties.
- In a live Auction, any dispute arising as to any bid shall be settled by the Auctioneers at their sole discretion and , alternatively, the Auctioneer may immediately put the lot in the dispute up again for sale with the original purchaser responsible for sale fees, no sale fees and any deficit in sale price
- The Auctioneers shall have the right to consolidate or break down lots, or to offer a complete facility as a single lot. Auctioneers reserve the right not to acknowledge or accept any bid which is merely a fractional advance over the preceding bid. The Auctioneers retain the right, without notice, to withdraw any lot or lots, prior to sale of said lots.
- FVA, and the Auctioneers assume no responsibility for any liability once bid is accepted. Merchandise “as is” with all faults. Purchasers are advised to pre-arrange for insurance coverage of their purchases.
Ownership title passes upon the fall of the Auctioneer’s gavel and/or ending of online bid and thereafter the property is at the risk of the buyer and neither the seller, nor the auctioneer shall be responsible for loss or damage.
- Titles are processed in accordance with the Oregon DMV. Rules in the State of Oregon may differ from rules in other states and may require further processing by the Buyer. Units that do not require titles in Oregon may have such requirements in other states. The auctioneer/owner is not responsible, and may not be able to in some cases provide documentation required by other states.
- All applicable taxes (i.e. sales or excise tax) will be added to the purchase price of all taxable or fee affected items unless the buyer files with the FVA proof of exemption from all such taxes/fees in a form satisfactory to FVA. If there is a buyer’s premium, any tax or fees is applied after the combined total.
- The purchaser shall not be entitled to possession of any of his purchases until total purchase price of all his purchases has been fully paid and in the event the purchaser fails to pay the full purchase price for any lot within the prescribed time or fails to comply with any other terms of sale, FVA and the Auctioneer shall retain the possessory lien on all lots of the purchaser, and have the right to resell such lots by public or private sale without notice of any kind to the Purchaser. Any deficiency arising upon the resale, together with all expenses thereof, shall be paid by the purchaser. Any auction deposit shall be retained by FVA for application against such deficiency. Forfeiture of the deposit does not release the buyer from full payment.
- All cost and the responsibility of such removal shall be borne by the purchaser. FVA reserves the right to require proof of adequate insurance coverage from any purchaser of lots requiring dismantling, rigging or hot cutting. Purchaser agrees to indemnify and save harmless both the Consignor and FVA against any damage caused by the act of Purchaser and/or his agents in connection with the dismantling or removal of any lot. If removal of said lots requires licensed contractors, buyer agrees to the hiring of said contractor who can provide proof of adequate insurance coverage.
- All lots must be removed within the time announced or posted at sale. At Purchasers’ sole cost and risk, and only in a manner approved by the Auctioneers. If for any reason the purchaser fails to remove any lot within the time specified, the lot shall be deemed abandoned and FVA, at their sole discretion, may resell per paragraph 8 above or remove and store the said lots at Purchasers’ sole risk and expense. In addition, Purchaser shall be liable for any rent incurred or damages suffered by FVA because of Purchasers’ failure to remove any lot within 10 days.
LEGAL NOTICE: Shipping is the responsibility of the buyer. FVA may help with arrangement and package items in flat rate boxes at the buyers’ expense. Firearms will have their own charges at the buyers’ expense. Certified funds are required for purchases being shipped.
- If for any reason whatsoever, FVA is unable to deliver any lot (or any necessary documentation required in respect of any lot) FVAs’ sole liability, if any, shall be the return of any monies paid on such lot.
- Except as herein set out there shall be no guarantees or warranties expressed or implied, statutory or otherwise of any nature whatsoever. Each and every item will be sold “As Is, Where Is”, with all faults. ALL SALES ARE FINAL. CONDITION OF LOTS: Bidders can examine or inspect items prior to the auction on-line or in-person at designated time and place advertised. ALL ITEMS ARE SOLD AS IS, WHERE IS AND WITH ALL FAULTS. neither Seller nor Fair Value Auctions, LLC MAKES ANY WARRANTY, EXPRESS OR IMPLIED, AS TO THE NATURE, QUALITY, VALUE OR CONDITION OF ANY ASSET. Fair Value Auction, LLC & Seller EXPRESSLY DISCLAIM ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. No allowance will be made for errors in cataloging, genuineness, defects, or imperfections not noted.
CLAIMS: No claims will be allowed after the said item has been removed from the premises.
- Bidder acknowledges that an auction site is a potentially dangerous place with noxious, corrosive and pressurized substances being present, heavy equipment being operated and electric circuits being live. Every person at the Auction Site before, during and after the auction sale shall be deemed to be there at his own risk with notice of the condition of the premises, the activities on the premises and the conduct of the third parties and the Bidder shall so advise his agents and employees. No person shall have any claim against the auctioneers, their agents, employees, sellers, owners or principals for any injuries sustained or for damages to or loss of property which may occur from any causes whatsoever.
FVA ALSO OFFERS THE FOLLOWING DEFINITIONS, TERMS AND POLICY AS FURTHER CLARIFICATION OF BUYER/BIDDER RESPONSIBILITIES SPECIFIC TO ON-LINE AUCTIONS.
Pronoun Identification. The Terms “we,” “our,” “us, “ etc. refers to Fair Value Auctions, LLC, aka FVA.
Listed Item(s). Unless announced otherwise, we are not the owner, seller or auctioneer of the Listed Item(s) on our Sites. We do not inspect Listed Item(s), validate a Seller’s ownership of or authority to sell Listed Item(s), or provide any representations or warranties concerning Listed Item(s). Bidding on the Listed Item(s) is conducted at your own risk, and any resulting transaction for Listed Item(s) is solely between you and the Seller. We do not supervise, direct, or control Sellers. You understand and agree that FVA will not be liable for Listed Item(s) that you bid on, the acts or omissions of Sellers, or for any proposed or completed transactions between you and a Seller.
Auction Information and Bidder Inspections. The auction dates, information, descriptions and reserved prices for Listed Item(s) are determined by the Seller and may be subject to change. Listed Item(s) may be used and may contain defects. We do not inspect or confirm the condition of the Listed Item(s). We do not verify the accuracy of, or control, the information and details provided by Sellers concerning the Listed Item(s). We also do not guarantee that Sellers have or maintain proper auctioneers’ licenses or comply with applicable laws, rules, or regulations. You should take appropriate steps to verify the accuracy of the Listed Item descriptions. You should also take appropriate steps to inspect or validate the condition of Listed Item(s) prior to bidding on and receiving Listed Item(s). We are not responsible for any errors or omissions in the content of any Listed Item(s). We reserve the right, in our sole discretion, to (i) withdraw any Listed Item(s) from our Services; (ii) amend the information in a Listed Item; or (iii) cancel any proposed bid for Listed Item(s) that we deem to be suspicious or fraudulent and report such bid to applicable authorities.
Additional Terms Posted by Seller. A Seller may post additional terms and conditions for their Listed Item(s) (the “User Posted Terms”). User Posted Terms are between you and the Seller and are separate from these Terms. You are solely responsible for reading and understanding any User Posted Terms prior to placing a bid on such Listed Item(s). We do not create, review, negotiate, or enforce User Posted Terms. If you do not agree to the applicable User Posted Terms, you should not place a bid on the Listed Item(s).
Additional Fees by Seller. In addition to the price of Listed Item(s), Sellers may charge a buyer’s premium (which is an additional fee that a winning bidder is required to pay above the auction price) as well as shipping, handling, and other fees. These fees are set by the Seller and may be subject to change depending on the Seller and the Listed Item(s).
Transportation and Risk of Loss. We are not responsible for the transportation, delivery or risk of loss for any Listed Item(s). Except as otherwise set forth in any User Posted Terms, the Bidder with the winning bid will be responsible for all freight, shipping, and other costs related to transporting the Listed Item(s). These costs may include dismantling, special handling, loading, transportation costs, and permits required to move the Listed Item(s) to the Bidder’s desired location. You should confirm transportation, delivery and risk of loss information with the Seller and your designated transportation provider. In no event shall we have any responsibility for the transportation of Listed Item(s) or for any risk of loss or liability related to Listed Item(s).
Bidding. You understand, acknowledge and agree that:
When you submit a bid using our Services, your bid will be forwarded to the Seller and may be viewed by the Seller as a firm commitment and an irrevocable offer to purchase. Once you place a bid on our Site, it may not be retracted. If you have the winning bid, a Seller may hold you legally obligated to complete the transaction unless otherwise prohibited by law or regulation.
By using our Services to bid on Listed Item(s), you grant us permission to share your information with Sellers, including, without limitation, your contact information (e.g., name, address, telephone, number, email address, etc.) and other information that you provide to us.
Reserves. You recognize that the Seller may put a “Reserve”, “Minimum” or “Floor Price” on any or all Lots that are offered for sale. The bidding will start at that price.
Proxy Bids. You may place a max bid on Listed Item(s). When you place a max bid, our bidding technology will automatically place bids on your behalf, using the smallest increment necessary to ensure you remain the high bidder until your max bid is met. If another bidder has placed the same bid before you, or a max bid that is higher than yours, we will attempt to let you know that you have been outbid. In that situation, you may attempt to place another bid within the specific auction time.
Soft Closes. Auctions may have time extensions. If a Seller elects to use a time extension for Listed Item(s), the bidding period on the Listed Item(s) may be extended when a higher bid than the then-current top bid is placed prior to expiration of that auction. The bidding period will continue as long as such higher bids are being placed within the time extension designated by the Seller.
FVA and Seller reserves the right to withdraw, postpone, or cancel any Listed Item(s), in our sole discretion, with or without notice. We shall have no liability to you as a result of any withdrawal, postponement, or cancellation.
FVA reserves the right to void a bid that you place, whether winning or not, which we believe (i) has not been made in good faith and in accordance with these Terms; or (ii) is intended to manipulate our Services.
The Seller is conducting the auction and makes the sole and final determination with respect to the sale of Listed Item(s).
WE DO NOT GUARANTEE THAT BIDS PLACED WILL BE RECEIVED AND PROCESSED IN A TIMELY MANNER.
Prohibited Bidder Conduct. Any deliberate attempt to artificially influence the sale price of any Listed Item(s), directly or indirectly, including but not limited to bidding through a secondary account, agent, or representative, bidding on Listed Item(s) that you may also be selling, communicating with other Bidders, or shill bidding is expressly prohibited.
Fair Value Auctions, LLC
302 S. Broadway Ave.
Burns, Oregon 97720