Informational Lot

1. Seller Confirmation and Auctioneer Approval

• All auctions conducted through Fastline Auctions are Reserve Auctions and subject to Pending Seller Confirmation unless otherwise stated. The highest bid received for any item does not automatically guarantee a sale. The seller and/or the auctioneer reserve the right to accept or reject any bid at their sole discretion. Final sale prices are subject to negotiation.
• Sellers may lower or remove reserves at any time before or during the auction.
• The auctioneer retains the final authority on all matters related to the auction, including but not limited to bidding, disputes, and sale confirmation. The auctioneer’s decisions are absolute, binding, and non-negotiable.

2. Bidder Agreement

• By participating in this auction, bidders acknowledge and agree to these terms. All bids are binding, and if the seller approves the bid, even if the reserve is not met, the bidder is obligated to complete the purchase. All decisions made by the seller and auctioneer are final and binding.

3. Fees and Payments

• Total Fees: A 7% fee will be added to the winning bid amount, capped at $5,000 per item.
• Buyer’s Premium: 5%
• Internet Premium: 2%
• Accepted bids will be invoiced within 24 hours of the sale’s closing with payment instructions included.
• Payment is due within 7 days of the invoice date. Failure to pay within this timeframe may result in cancellation of the sale, legal action, and/or banning from future auctions.

4. As-Is, Where-Is Sales

• All items are sold AS-IS, WHERE-IS with no warranties or guarantees, express or implied.
• Fastline Auctions and sellers disclaim all warranties, including but not limited to merchantability and fitness for a particular purpose.
• Hours and mileage are reported as shown on the meter at the time of listing but are not guaranteed.
• Assets are sold in their actual current condition, with all faults, defects, errors, and omissions.

5. Inspection and Due Diligence

• Equipment in the auction has not been functionally tested. Assets are sold in their condition at the time of listing with all faults, defects, errors, and omissions.
• Bidders are responsible for inspecting items before bidding. Equipment has not been functionally tested.
• Bidders are strongly advised by Fastline Auctions to take care to satisfy all questions or concerns about the auction process, bidding process, or auction assets before placing a bid.
• Under no circumstances should bidders contact sellers directly. All communication, including inspection arrangements and pick-up coordination, must be handled through Fastline Auctions representatives.
• Fastline Auctions is not responsible for seller statements.
• Fastline Auctions is not responsible for any loss, injury, or death due to inspection of an auction asset.

6. Reserved and Unreserved Auctions

• All Fastline Auctions are Reserve Auctions with Pending Seller Confirmation unless explicitly stated otherwise.
• Shill bidding, collusion, or any form of bid manipulation is strictly prohibited.

7. Absentee Bids and Maximum Bids

• Fastline Auctions does not accept absentee bids. Instead, bidders are encouraged to utilize the Max Bid feature available on the platform.
• The Max Bid feature allows bidders to set the highest amount they are willing to pay for an item. The system will automatically increase the bid incrementally on their behalf, up to the maximum set amount, in response to competing bids.
• This ensures that bidders remain competitive without having to monitor the auction in real-time.

8. Asset Removal

• Buyers are responsible for the cost and arrangement of auction asset mobilization, disassembly, rigging, transport, insurance, and all other costs related to the physical transfer of auction assets from their location.
• All risk of loss during the transportation of the auctioned item shall be borne by the buyer. Fastline Auctions is not responsible for or involved in the preparation for and transportation of any auction assets; this is the responsibility of the buyer.
• Fastline Auctions is not responsible for any loss, injury, or death due to the removal of an auction asset.
• Purchased items must be removed within 21 days of auction closing. Storage fees of up to $15/day per item may apply.
• After 45 days, uncollected items may be deemed abandoned, resulting in forfeiture.

9. Abandoned Assets

• Unless other provisions are agreed to in writing for the collection and removal of a sold auction item, if a sold auction item is not removed from the auction location within forty-five (45) days of the auction closing date, the buyer agrees that the seller may consider the item abandoned after forty-five (45) days.
• The abandoned item may be retained, resold, transferred, or otherwise disposed of by the seller in accordance with applicable law, including but not limited to recovery of the seller's attorney fees and expenses if permitted after the forty-five-day period.
• Abandoning the asset will result in forfeiture of the purchase price and any applicable fees or taxes.

10. Payment and Sales Tax

• Payment is required as outlined in the invoice. Assets will not be released until full payment is confirmed.
• Sales tax will be applied according to state laws unless valid exemption documentation is provided.

11. Asset Transfer and Risk of Loss Post-Auction

• Assets will not be released to buyers until full payment to Fastline Auctions has been received and funds confirmed.
• Buyers will be required to provide a copy of the Paid in Full invoice to the seller before taking possession. Buyers should either bring a physical copy or provide the seller with an electronic copy of the invoice.
• All risk of loss during the transportation of the auctioned item shall be borne by the buyer once full payment has been received.

12. Bid Retraction and Rejection

• Bids cannot be retracted once placed. Fastline Auctions reserves the right to reject bids or suspend bidders for any reason.

13. Auctioneer’s Discretion

• Fastline Auctions reserves the right to cancel, reschedule, or modify auctions at its sole discretion.
• In the case of technical issues, emergencies, or suspected fraud, Fastline Auctions may nullify any sale and return funds to the buyer.

14. Auctioneer's Discretion (Expanded)

• Fastline Auctions has full discretion to collapse, modify the date and time, order, and details of the sale of any auction asset or conduct of any auction for any reason or no reason at all, without explanation. This includes, but is not limited to, technical issues, suspicions of shill bidding, emergencies, or convenience of Fastline Auctions or the seller.
• You acknowledge that Fastline Auctions reserves the right to collapse any sale between you and the seller for any reason at any time and may return any or all funds to you, the buyer, at its discretion.
• A Collapsed Sale shall be a sale that, for any reason, becomes null and void.

15. Website and Auction Terms

• All auction-specific terms and conditions are unique to Fastline Auctions. It is your sole responsibility as a registered bidder to review the Terms and Conditions before placing any bids. By bidding on and purchasing auction assets on bid.fastline.com and its affiliated websites, you agree to the following terms and conditions.
• By participating in this auction, you accept these Terms & Conditions in full. If you have questions, contact auctioninfo@fastline.com or call (800) 626-6409.