General Info Coleman & Patterson, herein referred to as Auctioneer, reserves the right to deny or revoke any buyer at any time, without notice or consent at their sole discretion. Auctioneers at their discretion will have the final say as to disputes among bidders, including tie bids. Auctioneer reserves the right to add or remove items from the auction and make alterations to any auction items or terms & conditions at any time. Announcements posted or made the day of the auction sale take precedence over all printed matter and advertising. Buyer’s Premium The Buyer’s premium for On-site Bidders is 10% and for Online Bidders 15%. Buyers Premium applies to all items purchased. This amount will be added to the hammer price. CAP - Buyers Premium is capped at $2,500 for On- Site Bidders and $2,500 plus 2% for Online Bidders. Settlement Terms All purchases must be settled on Sale Day and prior to removing items. Auctioneer is granted authority to charge the credit card on file for the balance due immediately following the auction. If desire is to pay by Cash or Check please notify Auctioneer prior to auction ending. Auctioneer at its discretion may require Company and Personal Checks to have a Bank Letter of Credit if amount owed is greater than $2,500. All checks should be made payable to Coleman & Patterson. Picking Up Items Loadout will take place immediately after the auction. And Saturday, from 8am to 12pm. Items must be removed within 10 business days of the sale. Invoice must be paid in full before removal of ANY items. Sales Tax 8.25% sales tax applied to invoice total, including buyer’s premium. All Sales will be subject to State and Local Sales Tax Laws. A person claiming an exemption from sales tax for farm use on certain items is required to have a Texas Agriculture Exemption registration number. These items DO NOT qualify for sales and use tax exemption for agricultural production. • • • • • • Automotive parts, such as tires, for vehicles licensed for highway • Materials used to construct roads or buildings used for shelter, use, even if the vehicle has farm plates housing, storage or work space (examples include general storage barns, sheds or shelters) Clothing, including work clothing, safety apparel and shoes • Motor vehicles and trailers* Computers and computer software used for any purposes other than agricultural production • Pet food Furniture, home furnishings and housewares • Taxable services such as nonresidential real property repairs or Golf carts, dirt bikes, dune buggies and go-carts remodeling, security services, and waste removal Guns, ammunition, traps and similar items * See www.comptroller.texas.gov/taxes/ag-timber/. Shipping NO SHIPPING PROVIDED – BUYER MUST MAKE THEIR OWN ARRANGEMENTS IF THEY DESIRE SHIPPING. AUCTIONEER WILL NOT PACKAGE OR HANDLE ANY ITEMS. Auction Site ALL BIDDERS AT THE AUCTION SITE ARE THERE AT THEIR OWN RISK. Bidder agrees the auction site is potentially dangerous due to equipment operation. Regardless of cause, Auctioneer or its agents will not be responsible for any injury to anyone at the auction site. Online Bidding Coleman & Patterson is providing online bidding as a service to both Bidder & Seller. If service is interrupted or a communication error occurs, under no circumstances shall Bidder or Seller have any kind of claim against Auctioneer. No Warranties All sales are AS-IS, WHERE-IS, and with all faults. Bidder has had the opportunity to inspect all sale items and bidder agrees to solely rely on his/her inspection. We STRONGLY ENCOURAGE you to perform on-site inspections prior to the auction ending. All sales are final. Bidder will not be entitled to any adjustment, allowance, or damages or any other remedy regarding the condition of any item purchased. Internet bidders who have not previously inspected the items at the preview understand and acknowledge that they are not able to inspect an item as well as if they examined it in person. It is the Bidder’s responsibility to determine condition, age, genuineness, value or any other determinative factor. Hours are listed as shown on equipment. Auctioneer does not guarantee authenticity of listed equipment hours nor will be responsible for any errors or omissions in the description of the merchandise. Risk of Loss The Buyer is responsible for their items once the auctioneer declares the item sold. Buyer assumes all risk and holds Coleman & Patterson and/or Seller harmless of any liability resulting from theft, accidents, or fire. Buyer agrees to obtain full liability insurance coverage as may be required by law. Titles Titles are not available on sale day and will be mailed to purchaser approximately 10 business days after satisfactory settlement. No titles will be available if vehicles are marked 'No Title' or “Bill of Sale Only” (BOS). Loading / Shipping Buyer is responsible for all shipping logistics and costs. All items must be removed no later than the day after the sale. Coleman & Patterson or auction staff are not responsible for securing loads or for any damage or injury while loading or unloading equipment but will assist you with your equipment if desired. Agency Auctioneer is an agent of the seller and has completed a consignment contract with the seller. Auctioneer is permitted to place bids on behalf of seller or an absentee bidder at their sole discretion. Auctioneer is granted access to preview all placed bids during the auction, including proxibids. Coleman & Patterson, LLC, a full service auction company specializing in selling real estate, estates, business liquidations, and all types of equipment. Please contact one of our Auctioneers at 903-922-3175 to discuss your auction needs.