Terms & conditions of auction:

Buyer’s premium 5% Per Item

Additional 2% buyer’s premium for online bidders

$1000 Domestic Bidder Deposit for Online Bidding

$10,000 International Bidder Deposit for Online Bidding

State sales tax applies

ALL ITEMS MUST BE PAID FOR DAY OF AUCTION

ALL ITEMS MUST BE REMOVED FROM AUCTION SITE BY APRIL 21, 2021. ITEMS LEFT AFTER THAT DATE WILL BE SUBJECT TO $100 PER DAY PER ITEM STORAGE FEE AND $250 CALL OUT FEE

This bidder contract is between the person, who registered to bid via this online platform ('bidder'), and jeff martin auctioneers, inc. ('martin'). Bidder agrees that the terms summarized on this registration and set forth fully in the auction catalog set out specific and complete rules of auction and agree that it is bidder's responsibility to obtain and read these rules prior to bidding on any items. Bidder agrees to be legally bound by these rules. Additional terms may be posted or announced from the auction block, which shall also be binding on bidder. It is the bidder’s responsibility to request complete rules of auction from martin. All announcements made by auctioneer shall supersede any printed material.

Fee schedule:

Buyer’s premium is added to the high bid price on each item.
Buyer’s premium is different for each auction. Please see specific terms
Online bidders will pay an additional 2% online bidding fee
Payment is expected day of auction or at receipt of invoice.
Documentation fee $40.00 for each titled item.
State of MS trauma fee of $50 charged to all motorcycles, go-karts, ATV’s and altered golf carts for items sold in the state of MS.
Credit card surcharge 3%.
Sales tax applies unless proof of exemption is provided.
Storage fees of up to $100 per item may apply for items not removed from auction site by removal deadline. If special arrangements must be made to accommodate a customer pickup after the removal deadline a $250 call out fee may be charged in addition to storage fees.

Online bidders may be required to submit the following prior to approval to bid:

Make the full deposit specific to the auction in which you are bidding.
Local state, city, and county sales tax applies to all purchases.
All new international bidders may be required to deposit $10,000 USD. All new domestic bidders may be required to deposit $2,500 USD bidding in person. Credit card deposits will be held up to (5) business days after auction.
At auctioneer’s discretion, a bank letter and previous purchase history with another auction company may be accepted in lieu of deposit.
Other requirements may be added as determined by the auction company.

Bidder's responsibility: I the bidder agrees it is my responsibility as the bidder to inspect each item before bidding, and acknowledges that martin makes no guarantee or warranties, either expressed or implied, as to the condition of the items. Bidder agrees that description or statement in the auction catalog and internet websites are only a guide and martin make no guarantee of the accuracy of the descriptions in the catalog. After a bidder has won the bid with his/her high bid, all risk of loss and damage passes to bidder, even though bidder may have not paid for the item yet. Buyers should guard their items accordingly. Items not removed from auction site by deadline stated for auction is subject to a storage fee not to exceed $100 per item per day. Items not removed by deadline will be sold at an upcoming auction to cover cost of storage if outstanding fees have not been paid. You the bidder will be responsible for any remaining storage invoice balance that is not covered by auction proceeds. All items are sold as is. Where is, without guarantee or warranty of any kind. Inspect all items before bidding.

I the bidder understand I will be liable for payment of sales or use taxes which may become due for failure to comply with the provisions of federal, state, and local tax codes for any items sold as tax exempt or for resale. I understand that it is a criminal offense to give an exemption certificate to the seller for taxable items that I know, at the time of purchase, will be used in a manner other than that expressed in this certificate and, depending on the amount of tax evaded, the offense may range from a class c misdemeanor to a felony of the second degree. Bidder agrees to pay for purchases, and bidder represents that he/she has funds necessary for such payment. Complete payment is due on date of sale with cash, cashier's check, credit card, wire, or other checks accompanied by a bank letter of guarantee made payable to martin. All items must be paid in full before bidder leaves the premises. No items will be removed from the premises until payment is made in full. Payment not made by final removal date deadline will be subject to late fees, penalties, and interest up to 18% annum plus expenses related to collection cost. If bidder fails to pay for any or all purchases, for whatever reason, including an insufficient check or a stopped check, martin shall have the cumulative rights set forth in the complete rules of auction. Martin will contact district attorney for any checks that are returned for insufficient funds or closed account and proceed with all necessary legal action as needed for collection and or prosecution. Bidder agrees to not reverse or dispute charges for purchases paid for by credit card. By agreeing to the terms of auction the bidder does authorize martin to capture the balance due on invoice and charge credit card used for auction deposit if the invoice is not paid in full within 48 hrs. Of auction completion.

Injury and damage: bidder acknowledge responsibility for any personal injury or property damage caused by bidder, bidder's guests, or agents. Bidder agrees to hold martin harmless from any personal injury to himself or his agents and any property damage incurred on auction premises. Bidder releases martin and the seller from all liability connected with the removal and transportation of purchases and all future uses for the goods purchased herewith. Bidder also agrees that by registering for an auction I understand and agree that I will receive advertisements by email, regular mail and phone call or text message. I understand that text and phone charges may be charged by my service provider.

Titled purchases: bidder grants martin power of attorney to sign as owner/purchaser on title documentation as necessary to facilitate the transfer of ownership of titled purchases.

Martin reserves the right to remove items from auction or skip items once auction has begun. In the event an item is removed from auction or skipped any Prebid’s/absentee bids will be void. All announcements made by auctioneer shall supersede any printed material.

Live / simulcast/timed online auction additional terms- martin and its employees act merely as agents of sellers. All auctions are with reserve unless specifically stated otherwise. Reserves, if any, are not disclosed. Additionally, bids may be placed at some auctions by the seller, an employee of the seller, or an agent on the seller’s behalf up to the reserve. While the information we provide on item(s) is deemed correct, no warranties are expressed or implied as to any items being sold and you agree to purchase and accept the item in an as-is condition. Information on items is obtained by us from the sellers and you hereby agree to hold harmless jeff martin auctioneers, inc. And its employees or any errors or omissions regarding the item(s) being sold. This information includes but is not limited to year, model, machine or engine hours, physical condition, options, features, and other data pertinent to the value of the item. All items are sold as –is where-is.

Firearms sold at auction- we do not test fire any weapons and cannot guarantee the condition or functionality of any firearm offered for sale. No warranty or guarantee is inferred nor, should any be implied on any weapons and strongly recommend that the purchaser have all weapons inspected by a licensed gunsmith prior to use.

Martin reserves the right to revoke bidder number and bidding privileges from registered bidder and have that individual and their parties leave the auction site. Bidder will be responsible for payment of any bids placed prior to revocation. Photography, video & audio recording is used on premises and will be used for security and/or promotional purposes.

Purchaser will be responsible for the removal, insurance, breakdown, arranging, shifting, loading, and securing of load for any items purchased. It is the buyer’s responsibility to have inspected the item and determined the condition, year, model, serial number, and mileage of the item from your inspection. Martin does not guarantee any item descriptions as accurate. By agreeing to the terms of the auction you agree to the complete rules of auction.

For online bidders who do not pay within 2 business days of auction will be considered slow to pay and the auction company reserves the right to ban that buyer from bidding at any future auctions.

PERMIAN BASIN UNRESERVED PUBLIC AUCTION - APRIL 14, 2021 10:00 AM CST