Special Terms
DO NOT BID UNTIL YOU HAVE READ ALL OF THE BIDDING TERMS SET FORTH BELOW. DO NOT BID UNLESS YOU AGREE TO ALL OF THE TERMS BELOW. BY SIGNING BELOW AND BIDDING, YOU ARE ACKNOWLEDGING AGREEMENT WITH THE TERMS BELOW.
BUYERS PREMIUM:
Online Bidders: 12%
An additional 3.5% will be added to all funds collected through Credit card
1 - CONDITIONS: All items are sold "as-is," "where-is" with no warranty or guarantee expressed or implied for description, condition, or fitness for use, including any express or implied warranty from the manufacturer. Conditional notes or descriptions are deemed an opinion only and in no way be guaranteed. Royal Auction Group, Inc. (“RAG”) is proud to provide as much info pertaining to each lot but should be used as a guide only, buyers can inspect any lot physically prior to bidding or contact us at 855-243-2289 for additional questions. RAG nor its sellers make any warranty or guarantee that items will properly function or operate when removed or will continue to operate for any period after the auction. Mileage/hours are recorded only by what is visible on the meter, and no guarantees are made on actual mileage/hours on any asset sold. Condition notes are given as a guide only; factual information on any lot sold is to be verified solely by the buyer/bidder. Inaccuracies in the catalog or on the Internet will under no circumstances relieve the purchaser from the sale. Once a bid is recorded it cannot and will not be changed or altered. It's solely the bidder's responsibility to be responsible for any bids posted by their paddle number or bidder number both onsite and online. No buyer shall or may retract his bid. The bid constitutes an offer from the bidder to purchase the lot. The buyer accepts the lot when he makes a bid. All sales are final. Any announcements made on, before, or during the time of sale supersede any written descriptions. All opinions of condition are strictly to be used as guidelines. We do guarantee free and clear title to ownership with no liens or encumbrances whatsoever unless otherwise noted. All verbal or written announcements made during the sale or on the auction block, overwrite any printed descriptions or claims posted on catalog or any other marketing material. INSPECT BEFORE YOU BID!
Buyers must have a valid driver’s license or passport issued by a local, state, or federal agency to gain admittance to the auction site and obtain a bidder number. By signing this document, the bidder allows RAG to copy and store their ID. The bidder is responsible for knowing which item you are bidding on. If you are unsure, you should inquire or not bid. When you become the winning bidder at the auction you have affected a contract and will be obligated to pay for those items in which you were evidenced to be the successful bidder. Auctioneer will not honor "mistakes." INSPECT BEFORE YOU BID!
All auctions are recorded through sound and video. The auctioneer reserves the right to accept bids in any increment he feels are in the best interest of his client, the seller. The auctioneer reserves the right to reject the bidding of any person whose conduct, actions, or adverse comments he feels are not in the best interest of the seller.
2 - BUYERS PREMIUM: As further consideration for services performed by RAG, Buyer agrees to pay a 10% Buyers Premium to each purchased item or individual lot. An additional 2% internet provider service fee will be charged for each item purchased online. Nothing in this section shall be construed as charging interest to Bidder.
3 - SALES TAX: A 6.25% sales tax is applied to all items purchased and is charged in addition to the winning bid. All sales are subject to Texas sales tax and Texas tax laws. Sales tax exemptions will be accepted on non-titled assets with a copy of your current agricultural and/or tax exemption certificate as long as that item pertains to your business and is for resale only. Sales tax exemption will be accepted on tilted vehicles only with a current tax exemption certificate and dealer's license. All out of state buyers must pay taxes in Texas and will be required to fill out an affidavit for their home state. Out of country buyers are tax exempt only with a copy of the bill of lading during check out. Should Bidder’s current agricultural and/or tax exmption be declared invalid by the State of Texas, Bidder will be responsible for all unpaid sales tax.
4 - INSPECTION: Items will be available for inspection beginning 2 days prior to the sale from 9:00 AM to 4:30 PM, or sale day morning starting at 7:30 AM.
5 - SALE SITE DIRECTIONS 4916 Hwy 287 N. Access, Bowie, TX 76230. From Hwy 287 North from DFW Area, South from Wichita Falls. US44 and Hwy 81 South from Oklahoma. The auction site is on the North Access road at the intersection of Fruitland Rd.
6 - TERMS: Payment in full is required by the Wednesday after auction day, by cash, credit card, certified funds, or check with a bank letter of guarantee. Sample letter of guarantee: "We hereby guarantee the payment of our customer written on his account up to dollars for purchases at your auction sale on." Personal and Business checks are accepted on sale day however, assets will be held at auction yard for 5 business days or until the check clears, whichever is later. All checks should be made payable to Royal Auction Group Inc. Wire transfers are acceptable if approved at time of registration. ALL invoices will be accessed with a $75.00 admin fee. Most major credit cards are accepted up to $5000.00 with a 3.5% surcharge added into the amount collected.
Winning bidders are required to contact Royal Auction Group via email at info@royalauctiongroup.com to arrange payment instructions on sale day. New and on-line bidders may be required to submit a minimum of $1000 security deposit. The deposit is refundable if no items are won. Winning bidders agree to forfeit their deposit until their invoice has been satisfied. Every effort is made to "guard" merchandise throughout the auction. However, the bidder becomes solely responsible for all items purchased by them immediately following the winning bid and assumes all risks of damage to the items following the winning bid by any cause, including Acts of God. RAG shall not be responsible for theft or damage to any items following the winning bid. Interest on overdue amounts will be paid by the buyer at a rate of 18% per annum or at such other maximum rate as allowed by law, together with any legal or collection costs incurred by the auctioneers.
By agreeing to these terms, on-line buyers authorize the Company to charge the credit card on file for the total bid amount plus buyer's premium and processing fees after bidding ends on the purchased lot. Any attempt to circumvent this authorization will be considered theft by deception and the buyer will be prosecuted to the fullest extent of the law. Buyers shall not be permitted to possess any of his purchases, and title to such purchased items will not be delivered to the buyer, until the TOTAL PURCHASE PRICE of all his purchases including all applicable goods, taxes or fees have been paid. Backup bidders are still responsible for their bids up to five business days after the auction.
Due to Safety and Insurance reasons, No One under the age of 16 is Permitted on the Auction Site while the sale is in progress.
7 - Wiring Instructions:
To Rag of Fort Worth, LLC.
Bank Name: BMO
City and State: 320 South Canal Street Chicago IL 60606
Account Number: 3887429
Routing Number: 071000288
Swift Code: HATRUS44
8 - REMOVAL: No items may be removed until paid in full. Except as otherwise set forth in section 6 above, all sale items that can be carried by hand may be removed on sale day as long as the removal activity is not disruptive to the sale and only until 5:00 PM. All items may also be removed Monday through Friday, 9:00 AM to 4:00 PM, and all items must be removed by 10 business days after the posted sale date. A $20/day per item storage and transportation fee will incur if items are not removed by posted deadlines. Items not removed in the time frame listed above may be deemed abandoned, and the auctioneer may tow and impound or resell the lot.
It is solely the responsibility of Buyer to remove all items within the time frames set forth in this Section.
9 - AIRPORT: The area is serviced commercially by Dallas/Ft. Worth International Airport (DFW).
10 - LOADING: RAG staff will gladly assist in loading purchases. RAG only has access to a 5,000lb forklift and cannot lift items with a weight greater than that. Our staff will not load or tie down purchases, but merely will aid the buyer in the process. We are not responsible for any items loaded or any securement of such items. If an outside transport company is used, make sure the driver can load and tie down on their own. In no way will RAG or any of its employees be held responsible for any damage or injury to such items or to any other persons or property during the loading process, and Buyer assumes all risks of damage to the items following the winning bid by any cause, including Acts of God. If the item is listed as non-running, plan to bring a tow truck. We will not push vehicles onto a trailer. Buyer agrees to indemnify and hold RAG and its staff harmless from any claims of damage or injury to any items or to any other persons or property during the loading process.
11 - TITLE PROCESS — RAG will handle all title transfers. Please bring DL or EIN # along with proof of insurance and appropriate funds for your transfer and registration fees. Dealer fees apply to all titled vehicles, ATVs, and Trailers over 4,000 lbs. The title transfer documents can be done in person, or you can opt for electronically signing the documents. You must complete all paperwork before we can begin to transfer the title. We process all titles and the title process can take up to 4 weeks after we receive the original completed title paperwork from you.
RAG is under no obligation to begin the title transfer process until the TOTAL INVOICE of all buyer’s purchases including all applicable goods, taxes or fees have been paid and we receive the original completed title paperwork from you.
Texas Residents
· Texas Title and Licensing Fee: $110
· Texas Documentation Fee: $225
· Metal Plate Fee: $10
· Vehicle Inventory Tax (VIT): 0.12% of the sales price
Heavy Duty Vehicles:
o Vehicles over 26,001 lbs will be processed as Title Only
o Diesel vehicles over 14,000 lbs and newer than 1997 incur a 1% Emissions Fee.
o Vehicles over 10,000 lbs may incur additional fees
Out-of-State Buyers:
· Title Processing Fee: $110
· Metal Plate Fee: $10
Dealers:
· Processing Fee: $50
12 - DEALERS EXEMPT - Provide your Current Calendar Year Tax Exemption Certificate and dealer's license, a $50.00 processing fee will be charged for each titled vehicle.
13 - LITIGATION: Costs and Expenses. In the event of any litigation between any of the Parties arising from or relating to the enforcement or interpretation of this Agreement, the prevailing party is entitled to recover all costs and expenses, which shall include attorney's fees incurred at all proceedings, including, without limitation, before trial, at trial and all appellate levels, against the non-prevailing party. In any such award of costs and expenses, the prevailing party shall also be entitled to recover "fees on fees" from the non-prevailing party, meaning those costs and expenses, including attorney's fees, which are required to determine the amount of costs and expenses to be awarded
14 - GOVERNING LAW, JURISDICTION, and VENUE: THIS AGREEMENT SHALL BE DEEMED TO BE MADE AND ENTERED INTO THE STATE OF TEXAS, AND SHALL, IN ALL RESPECTS BE INTERPRETED, ENFORCED, AND GOVERNED UNDER THE LAWS OF TEXAS. THE SOLE AND EXCLUSIVE VENUE AND FORUM FOR ANY LITIGATION ARISING UNDER OR RELATED TO THIS AGREEMENT SHALL BE THE COURTS OF TEXAS LOCATED IN DALLAS COUNTY, AND THE PARTIES HEREBY EXPRESSLY WAIVE AND RELEASE ANY RIGHTS THEY MAY OTHERWISE POSESS TO FILE OR MOVE ANY SUCH LITIGATION TO ANY OTHER COURT IN THE STATE OF TEXAS, OR TO ANY COURT IN ANY OTHER STATE, OR TO REMOVE SUCH LITIGATION TO FEDERAL COURT.
15 — CONSIGNORS: No consignor is permitted to bid on their own item(s), and a consignor bidding on their own items will be deemed in breach of this Agreement and their Consignment Agreement. It is acknowledged that a consignor bidding on their own items will cause RAG to incur costs and damages that are difficult to ascertain with certainty, therefore a consignor bidding on their own items shall be liable to RAG for 20% of the sale price or reserve amount as liquidated damages. Such liquidated damages are intended to represent estimated actual damages and are not intended as a penalty. In addition, RAG reserves the right to preclude any consignor bidding on their own item(s) from consigning again.
16 - Royal Auction accepts absentee bids for bidders that cannot physically attend the auction. Absentee bids are treated similar to a max prebid on Proxibid or Equipment Facts. Absentee bids are accepted through a Docusign agreement. Please contact the auction site for details on this process.
17 - Royal Auction accepts consignments that may be sold OUTSIDE of our physical host auction site. These items will have a lot number followed by a two letter state identifier of what state the item is located. Additionally, the description will describe the state and city where the item is and will have to be removed from.
Auction Terms Glossary:
Odom Reads – This is what the odometer shows at the time of check in. Odom reads is not a guarantee of true mileage, we are simply stating what the odometer is currently showing. One
Owner Fleet – Means this item has had only one previous owner/user. The unit may have changed hands through a dealer but has had only one true owner/user. City of XXXX – Unit has previously been owned by the City or County named here.
Pwd by/Pwr by – Means the unit has this brand or size power unit.
Limited Function Check – Means during our short check in period, we performed a limited function test of major components where the results are written in the description. This test does not guarantee functionality of any item or components of that item.Runs & Drives – Means the unit ran at less than 5 MPH and was driven in line during the check in process. Runs and Drives does not guarantee the unit will drive any extended distance.
Absentee Bid – Means a bid submitted by a bidder to the auction company who cannot attend the auction and therefore the auction company will bid as their proxy.
Sold on a Phone Call or Sold Pending Confirmation – Means the bid must be confirmed as acceptable by the seller. The bidder is still held liable for the bid for up to three days after the sale.
Buyer’s Premium – Means the premium fee added to each item that is purchased and will be calculated into the final sale price.
On-Line Premium – Means the additional buyer’s premium added to each item purchased through the on-line portal.
Timed Sale – Means an on-line sale that each item starts at a specific time and continues until the time is expired. Each bid may add additional time to the bidding process.
Clear Title - Royal Auction Group guarantees a clear title on titled items or we will refund your money in full plus $500.00
**No-One Under the Age of 16 will be permitted to attend the auction
for Safety Reasons. **
