Fair Value Auctions, llc (AKA FVA): Seller Terms
Seller Registration and Account Approval. Your account must be registered with and approved by us, in our sole discretion, before you can use our Services as a Seller.
Listed Item(s) and Auctions. You acknowledge and agree to the following:
YOU ARE WARRANTING THAT YOU EITHER OWN ANY AND ALL ITEMS YOU PLACE FOR SALE, OR ARE AUTHORIZED TO DO SO AS AGENT FOR THE LEGAL OWNER, WHICH YOU FREELY DISCLOSE IN YOUR LISTING.
You are solely responsible for any Listed Item(s) that you place for auction using our Services;
You agree to fully, completely, and accurately disclose all information relating to your Listed Item(s), including brand name or other indication of origin or manufacture, and you shall be responsible for any such inaccuracies, errors, or omissions;
You will not list any Listed Item(s) through our Services that are illegal to use, possess, auction or sell under any applicable law, rule or regulation;
Listed Item(s) will not contain links to or a description of other items that you may have for sale outside of our Services;
Any Listed Item(s) that are not sold upon completion of an auction may be treated as withdrawn from our Services, and if you wish to re-list such Listed Item(s), you must pay us our then-current fees and expenses for such Listed Item(s) as though they were new Listed Item(s);
Listed Item(s) must be actual items and not mere examples of items. Only one Listed Item (with multiple quantities, if applicable) can appear on each listing;
You may have an option to set the opening bid price as a reserve depending on the Site;
You will make the Listed Item(s) available to the highest bidder in accordance with the Terms and any User Posted Terms (as defined below) that you may include with your Listed Item as set forth in Section 4 below; and
We reserve the right, in our sole discretion, to: (i) refuse to allow any item to be listed, at any time and for any reason; (ii) withdraw any Listed Item(s) from our Services; (iii) review and verify a Listed Item’s information and description; (iv) amend the information in a Listed Item; or (v) cancel any proposed bid for Listed Item(s) that we deem to be suspicious or fraudulent and report such bid to applicable authorities.
Seller Confirmation of Listed Item(s). You are responsible for reviewing the categorization and description of your Listed Item(s) to ensure the items are categorized and described accurately. While we do our best to assist Sellers with posting correct information, you are responsible for reviewing and ensuring that any content displayed on our Services appears as you intended. We take no responsibility for Listed Item(s) that are mis-listed or mis-categorized.
User Posted Terms. You may post additional terms and conditions of sale for your Listed Item(s) (“User Posted Terms”). User Posted Terms are between you and a Bidder and are separate from these Seller Terms. You are solely responsible for creating, reviewing and understanding any User Posted Terms prior to placing such terms with your Listed Item(s). We do not prepare, review, negotiate, or enforce any User Posted Terms. We do not represent or guarantee that any User Posted Terms will be enforceable against a Bidder.
Listed Item(s) Usage. You represent that once a Listed Item is placed for auction using our Services, it will not, unless otherwise expressly disclosed within the listing, be operated, leased, rented, modified, or altered until completion of the auction, and if sold to a Bidder, until the Listed Item(s) is removed from its location by or on behalf of the Bidder.
Encumbrances. You are solely responsible for making full disclosure to Bidders of any and all Encumbrances and third-party interests that may exist on or pertain to Listed Item(s). You will, at your own expense, warrant and defend title to Listed Item(s) on behalf of the Bidder, its successors and assigns, against the claims and demands of all persons. If required, you shall be responsible for the payment of any independent appraisals and documentation fees required to release such Encumbrances and third party interests.
Buyback and Price Manipulation. You shall not bid or make an offer, directly or indirectly, nor allow any other person to bid or make an offer on your behalf, by agency or otherwise, on your Listed Item(s) or any part of your auctions. In the event of price manipulation or a buyback, we may, in our sole discretion, ban you from future use of our Services.
Our Fees. You agree to pay us our then-current fees for your use of our Services. These fees will be deducted from the final sales deposits at the end of each sale, and as payments are made of any remainder. Please contact our representative for more information regarding current fees applicable to our Services. For an additional fee, you may purchase additional advertising. All fees paid to us are non-refundable.
Payment Deposits. You will receive a check within 72 hours following the sale closings. You will be paid based upon the Lots collected. Late Lot payments will be paid within a day of receipt.
Hyperlinks. We reserve the right to refuse hypertext links to, or addresses of, other websites and to remove hypertext links or web addresses without notice at our sole discretion.
Exclusivity. To the extent you are only auctioning a Listed Item online, our Services shall be the exclusive listing for that Listed Item and you shall not offer for sale or sell the Listed Item in any other manner until the earlier of (a) the date the Listed Item is auctioned through our Services; (b) the date you withdraw the Listed Item from our Services as permitted herein; or (c) the date on which the auction with the Listed Item expires.
Search Results. We cannot guarantee that your Listed Item(s) will appear in any specific order in search results on our Sites and Services. Search order results will fluctuate based on the search options used, including but not limited to, price and auction end time.
Representations and Warranties.
You represent and warrant that any Listed Item(s) placed by you:
are owned by you, or you have the legal right and authority to sell such Listed Item(s) on behalf of the legal owner;
are free and clear of any and all registered and unregistered liens, security interests, tax or duty obligations or other encumbrances or contrary claims whatsoever, except as expressly disclosed by you within the applicable listing (the “Encumbrances”);
are in good operating condition, free of material defects, except as disclosed by you within the applicable listing;
have not been modified or tampered with in any manner that would be contrary to applicable legislation or misleading to a Bidder, including, but not limited to, tampering with emission control devices;
have not been fraudulently obtained, and are not stolen or counterfeit;
only include descriptions, pictures and videos that are accurate;
in the case of all motor vehicle equipment, have never been re-built, salvaged or glidered except as expressly disclosed by you within the applicable listing(s);
include a description of all applicable odometer and hour meters that reflect actual mileage or usage unless otherwise expressly disclosed by you within the applicable listing(s); and
include any and all legally required disclosures that may be applicable to the auction and/or sale of the Listed Item(s) to a Bidder.
You further represent and warrant that:
you are solvent and have not made, nor are you aware of, any assignment, proposal or other proceeding for the benefit of your creditors;
the offering for sale, advertising and sale of the Listed Item(s) will not contravene or infringe upon any patent, copyright, trademark, agreement or similar right of any third party;
you are duly authorized to complete and provide all listing information for Listed Item(s);
any User Posted Terms for your Listed Item(s) are legal and do not violate any applicable laws, rules, regulations; and
as it pertains to your use of https://www.fairvalueauctions.com, and (to the extent applicable) https://www.HiBid.com as a Seller, will disclose IF you are an authorized dealer and/or auctioneer and have and shall maintain all applicable and necessary licenses, permits, permissions and authorizations to place Listed Item(s) for sale and conduct auctions using our Services.
No Guarantee to Proceeds. We do not guarantee that Bidders will bid on Listed Item(s), that you will be able to sell Listed Item(s) using our Services, or that you will be able to collect the purchase price from a Bidder who has a winning bid for Listed Item(s).
Purchase and Sale of Listed Item(s). The actual purchase and sale of Listed Item(s) following an auction, is and shall remain the sole responsibility of the Seller who placed the Listed Item(s) for auction and the Bidder who had the winning bid. If you are the Seller, you must coordinate the purchase and sale of the Listed Item(s) directly with the Bidder who is the winning bidder for the Listed Item(s). You assume all risk and liability associated with any agreement(s) you enter into with the Bidder. We are not a party to, and do not facilitate, the purchase and sale of any Listed Item(s).
August 1, 2021
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