Terms of Sale
Roy Teitsworth Inc. Internet Auctions
General Terms & Conditions
Please read the following information carefully and complete the information requested on the bidder registration form or the sales contract. By completing and submitting this information you agree to the following terms of sale.
Auction Period: The auction period shall be determined by Roy Teitsworth Inc.
Postponement and cancellation: Roy Teitsworth Inc., reserves the right to postpone or cancel any featured auction or owner auction, or any sale, without notice. Roy Teitsworth Inc. will have no liability to prospective bidders or sellers as a result of any withdrawal, cancellation or postponement of auctions or sales.
Void Bids: Roy Teitsworth Inc. reserves the right to reject or void bids, whether winning or not, which it believes to have not been made in good faith and/or is intended to manipulate the auction process,or is prohibited by law.
Participation: Roy Teitsworth Inc., unilaterally reserves the right to deny anyone from participation on our “on-line” auction at any time.
Payment: Upon presentation of a paid receipt the seller will release the equipment, any service records and the keys. The title or registration will be released by Roy Teitsworth Inc. Seller will be required, during designated times, to assist buyers in picking up their equipment in an effort to minimize potential problems.
Buyers Premium Schedule: $1.00 to $999.99- 15%, 1000.00 to $9999.99- 9%, $10000 to $24,999-8%, $25,000 to $49,000- 7%, $50,000 to $74,999- 6%, $75,000 to $99,999- 5%, $100,000 and up- 4%
Soft Close: if a buyer enters a bid in the last (2) two minute of the auction, the ending time will automatically extend by (2) two minute until the bidding ends.
Warranties: All equipment sold is “AS IS, WHERE IS” The auctioneer and the seller have described the items to the best of their ability and belief. The auctioneer and seller undertake no liability whatsoever in respect to any faults, deficiencies, or errors of any description oral or printed, no do they accept responsibility for authenticity of origin, age, condition, or quality of any lots. Each and every lot is sold as seen, no guarantees or warranties (express or implied) are included with respect to the equipment or vehicle in each lot.
Liability for Equipment:The equipment shall be and remain at the risk of the seller (and not Roy Teitsworth Inc.) until the buyer or the buyers designated transportation provider removes the equipment from the selling location. The equipment shall be and remain at the risk of the buyer and/or the buyers designated transportation provider (and not Roy Teitsworth Inc.) while in transport. The equipment shall be and remain at the risk of the buyer once delivered to the buyer’s location.
Buyer Specific Terms & Conditions
Registration:Upon registration you will be assigned a user name and password. This will be emailed to you after accepting the terms and conditions. After you have received your user name and password you will have the ability to log into our auction to bid. Your user name and password are permanent and will be reused for all online auctions. Please wire them down and keep them in a safe place. Auction items may have different terms of payment, carefully read terms attached with each piece of equipment. Bidders are held personally responsible and liable for any bids placed with their bidding number. In accepting the terms of sale you are agreeing to pay the bid amount, buyer’s premium if applicable, and any other taxes or fees set forth in the terms with the equipment description. As the auction close you have entered into a contract with Roy Teitsworth Inc. for purchase of the equipment
Inspection: Buyers are responsible for their own inspection and or judgment as to the condition of the equipment when bidding.
Award Approval: Certain equipment may be sold subject to seller approval. In these cases buyers will be notified if their bid has been accepted by the close of business the day after the auction.
Payment: Buyers are responsible to pay for their purchases in full upon receipt of their email invoice. Applicable state of NY sales tax will be charged on all lots. Bidders from within the state or outside the state of NY will be exempt from sales tax only if they provide proof of approval tax exemption status and exemption certificates that are acceptable to the state of NY. Forms of payment include the following: MasterCard, Visa, Cash, Certified funds, Wire transfer, and Company check. A 2% administrative fee will be waived on all purchases made with cash, certified check, wire transfer, or company check. There will be no administrative fee on invoices under $1000. If purchasing equipment with DMV paperwork and paying with a company check the title will be held 14 days then mailed certified. If you have an established relationship with Roy Teitsworth Inc. from our live auctions this requirement may be waived. In the event that purchaser fails to pay for the entire purchase within the time set forth by the auctioneer and/or fails to comply with any of the terms and conditions of sale, the seller may retain and/or recover any monies paid as part of the damages and in addition thereto, items that are not paid for can be resold at public auction without further notice.
Equipment Removal: Terms of the equipment removal will be included with the descriptions. Should the buyer not remove the equipment as agreed to in the terms of sale, Roy Teitsworth Inc. will move the equipment to our facility in Geneseo, NY at the buyers expense. The buyer agrees to insure the equipment purchased against all losses from the auction date until removal of the equipment from the auction site.
Hazardous Material: Buyer agrees that in the even purchased merchandise contains any environmental hazards, toxic waste or other type of hazardous material in any form whatsoever, buyer shall provide evidence that buyer or its representatives and licensed for such removal and shall comply with all applicable local, state and/or federal rules, laws and regulations. Roy Teitsworth Inc. will not be responsible for it containment, storage or removal.
The buyer acknowledges he/she has read and agrees to be bound by the additional terms and conditions set forth in the description of the equipment purchased.
We suggest you print out a copy of these terms for your records.
Seller Specific Terms & Conditions
General: Roy Teitsworth Inc. will include your equipment in our online auction at www.teitsworth.com. The auction will be marketed to potential buyers via the internet as well as inclusion in live auction ads.
Photos: The seller will provide Roy Teitsworth Inc. with 6 to 8 interior and exterior photos for vehicles and equipment and 1 photo for smaller items to be posted with detailed descriptions including identification number on the equipment. This number needs to be taken from the vehicle not the title. RTI will provide seller with an outline for photos needed and specifications to be used in the description.
Titles: At the time the equipment is listed the seller will provide our office with a copy of the front and back of the title or transferable registration with matching VIN#. The original title or registration will be delivered to Roy Teitsworth Inc. at bid acceptance.
Removal: The seller will provide RTI with their terms and time of removal as well as the address for the equipment location and contact information should the buyers require additional information about the equipment.
The seller reserves the right to reject the bid.
Rejecting bid: At the close of the auction the seller will have until 4:00PM the following day to reject the bid. Once the transaction is complete the seller will be notified and the buyer will be issued a paid receipt.
Supporting Information: We recommend any service records, manuals and spare parts to be included with the vehicle or equipment.
Settlement: Roy Teitsworth Inc. will pay the seller by check 10 business days after acceptance of the high bid. Roy Teitsworth Inc. guarantees all checks.
Ownership: It is hereby stated by the consignor that he or she is the legal owner, or that he or she has been authorized to sell and dispose of the items that have been consigned to this auction.
Liability: It is agreed that the Roy Teitsworth Inc. is not responsible for the loss of any item due to FIRE, THEFT, or DAMAGE. The consignor states that the items involved are free from any MORTGAGE, LIEN or any other encumbrance. The seller herby agrees to turn over to the auctioneers; to be sold at public auction the items listed below and attached sheets as necessary. NO item will be sold or withdrawn from the sale prior to the auction except by mutual agreement between seller and auctioneer. If any item is sold or withdrawn the auctioneer will receive the full commission on that item.
Services: Sellers will still be able to take advantage and make use of all additional services Roy Teitsworth Inc. offers including appraisals, equipment replacement programs and many other services.
The buyer acknowledges he/she has read and agrees to be bound by the additional terms and conditions set forth in the description of the equipment purchased. We suggest you print out a copy of these terms for your records.