Standard Terms and Conditions
REGISTRATION STATEMENT OF TERMS & CONDITIONS
All persons attending to participate in a 1726, Inc. dba: Mark Glen Auctions’ auction are responsible for reading and complying with the terms and conditions as specified in this Statement of Terms and Conditions. Understanding of these terms and conditions is assumed by 1726, Inc. dba: Mark Glen Auctions, hereinafter referred to as “Mark Glen Auctions.”
ADDITIONS & DELETIONS: Mark Glen Auctions reserves the option to withdraw from the auction any item at any time during the auction. Mark Glen Auctions reserves the option to group or subdivide lots. Mark Glen Auctions reserves the option to sell all of the items in the auction in bulk.
AUCTIONEER IS AGENT FOR SELLER: Auctioneer is an agent of the Seller whose work is selling things at auction. Actions taken by the Auctioneer are on behalf of the Seller in accordance with the terms of this registration form.
ANNOUNCEMENTS: Announcements will be made at the start of the auction and may be made during the auction to clarify specific information regarding item(s) in the auction. The latest announcement takes precedence over all previous declarations (written or oral) regarding status of item(s) to be auctioned.
AUCTION: An auction is a public sale of items which are sold one by one, each going to the latest and highest of a series of competing bidders.
AUDIENCE: A group of persons assembled to participate in a Mark Glen Auction.
BIDDING: This is an open and oral (voice) auction. It is each bidder’s responsibility to pay attention to items being auctioned and to bid on the item(s) of their interest. When you become the winning bidder you hereby enter into a legally binding contract for the purchase of an item identified by a lot number and whose price is recorded by the Auction Clerk. You further irrevocably agree to pay in full for all purchases upon completion of the auction. Auctioneer will not waive Buyer’s mistakes or changes of mind after the bid is recorded. All legal remedies will be taken to collect on purchases owed. WARNING: If you do not know what you are bidding on or buying. DON’T BID!!
BUYER’S PREMIUM: A Buyer’s Premium (10% added to the successful bid amount) is applied to the purchase price of each lot. This premium is subject to the State of Hawaii General Excise Tax rates at the time of auction for all buyers, including resale buyers.
CHILDREN: Mark Glen Auctions believes in Raising Money-Wise Kids! Keikis accompanied by a registered adult, are welcome. E Komo Mai!
COLLUSION: Practices which eliminate competition, such as collusion bidding, may warrant criminal, civil or administrative action against the participant and will be referred to appropriate local officials under the authority of the US Department of Justice in accordance with 41 CFR 101-45.317.
DEFAULT: Failure to make required payment or removal within a specified time is deemed as forfeiture of any right, title, and interest a buyer may have acquired and the item(s) will revert and repossess to Mark Glen Auctions without further notice to the buyer and will result in any monies paid being forfeited and the transaction considered null and void.
DELIVERY OF INSTRUMENT OF CONVEYANCE DOCUMENTS: Mark Glen Auctions will in good faith make every effort to provide successful bidders with the documents of conveyance sufficient to transfer any right or title. Mark Glen Auctions does not warrant, or guarantee that titles, licenses and/or registrations can in fact be obtained. This effort will be made to effect transfer in the name of the registered bidder only.
DEPOSITS: Deposits may be required with a Sealed Bid. If deposit is required and included with a Sealed Bid, the unsuccessful bid and deposit will be returned by certified mail within five (5) business days.
DESCRIPTION: The condition of the items being offered varies from “NEW” to “JUNK.” The buyer understands and agrees (1) any description or sample of items furnished by Mark Glen Auctions is derived from records and documents which may be unverified as to accuracy, is solely for identification, and does not create warranty, expressed or implied, and the item actually conforms to such description or sample; (2) all weights, measurements, and descriptions must be considered approximations and do not create warranty, (3) the item is accepted by the buyer “AS IS” and “WHERE IS” and “WITH ALL FAULTS.” Mark Glen Auctions makes no warranty or guarantee whatsoever whether written or oral, or implied as to quality, quantity, condition, usability, resale value, weight, measurement, year, model, mechanical condition, performance, or any other specification.
Buyer waives, releases, and renounces any and all obligations and liabilities of Mark Glen Auctions and rights, claims, and remedies of the buyer against Mark Glen Auctions with respect to any defects in such items delivered under this agreement, including but not limited to: (1) any implied warranty, resale value, or fitness for a particular purpose; (2) any implied warranty arising from course of performance of dealing or usage of trade; (3) any obligation, risk, liability, right, claim, or remedy in tort, whether or not arising from the negligence of Mark Glen Auctions, actual or imputed, and (4) any obligation, risk, liability, right, claim, remedy for loss of use, revenue or profit, liability of buyer to any third party, or for any other direct, indirect, incidental, or consequential damages, or personal injury.
DISPUTES: Mark Glen Auctions is absolute in dispute. A bid retraction does not necessarily revive a previous bid.
ELIGIBILITY OF BIDDERS: Bidder must demonstrate a Social Security Account Number to bid at a Mark Glen Auction.
FEDERAL TAX: Cash payments in excess of $10,000.00 will be reported to the Internal Revenue Service in accordance with IRC Code, Section 6050 1(d).
HAWAII STATE GENERAL EXCISE TAX: Items are subject to the existing General Excise Tax rate of the State of Hawaii. Resale buyers are subject to the existing Resale Tax Rate of the State of Hawaii and to the existing General Excise Tax Rate on the Buyer’s Premium. If you are a resale buyer, we need your Hawaii State General Excise Tax License Number.
INSPECTION: Bidders are urged to inspect items for auction at the announced inspection times. Failure to inspect does not constitute cause to cancel the sale of an item at auction. Item(s) are available for inspection only at places and times specified by Mark Glen Auctions. Mark Glen Auctions may, at its discretion, provide photographs, slides, samples or video tape presentation of items for auction as a courtesy to bidders. Bidders are warned against bidding on any item based solely on a sample displayed or on the basis of photographs or video presentation of an item. Mark Glen Auctions makes no warranty in relation to these samples, photographs, or video presentations.
LOT NUMBERS: Lot Numbers are for administrative purposes only and do not describe the merchandise. Lot Numbers identify a specific item or portion of items being auctioned. Items are not necessarily sold in Lot Number sequence.
MINIMUM BID: Mark Glen Auctions reserves the option to accept or reject any and all bids. Items are sold with a minimum (reserve/upset price) unless the item is offered, in explicit terms, without minimum (reserve/upset price). If the minimum (reserve/upset price) is not achieved, Mark Glen Auctions may withdraw (pass) at any time. Minimum Bid (reserve/upset price) is not available to the general public.
PAYMENT/FINAL PAYMENT: Payment for items must be made before the close of the auction on the day of the auction. Cash is the preferred method of payment at a Mark Glen Auction. Local checks drawn on a Hawaii bank are acceptable means of payment. Returned checks incur a twenty dollar ($20.00) handling fee.
PERSONAL AND PROPERTY RISK: People attending a Mark Glen Auction during inspection, auction and/or removal of items assume all risks of damage or loss to person and property and shall comply with safety and health requirements of federal, state, and local regulations; and specifically release Mark Glen Auctions, including its agents. It is agreed that Mark Glen Auctions is not liable by reason of any defect in or condition of the premises in or on which a Mark Glen Auction is held.
PROGRESSIVE: Mark Glen Auctions are progressive. Progressive auctions will not be interrupted by conflicts or disputes, of the on-gong auction or of any Mark Glen Auction, previous or future.
RECORDS: The records of items sold at auction maintained by Mark Glen Auctions are final in the event of dispute. Mark Glen Auctions will not release lot/price information from previous auctions. You must attend and register to obtain the auction experience.
REFUNDS: Mark Glen Auctions makes no refunds, credits or exchanges. ALL PURCHASES ARE FINAL!
REGISTRATION: Persons wishing to participate in the bidding process of an auction must obtain, clearly fill out, and turn in a bidder registration form at the auction site prior to making an offer on any item. Each registered bidder is solely responsible for the use of their registered bidder number and any use of their bidder number by another person is presumed to be with the consent of and is contractually binding on the registered bidder. If you leave during the auction, Mark Glen Auctions recommends that you destroy your bidder card in the presence of our registration personnel.
REMOVAL: Mark Glen Auctions urges that removal begin after the last item is auctioned and removal be completed before close of business on auction day. If you choose to remove your items at a later date, you assume responsibility for security of the items you purchased. If you choose removal on a day another auction is being conducted at the same site, you must register for that auction. Requests for removal during an auction will only be considered if removal will not disrupt the on-going auction process.
SALE/SELL: The exchange of property of any kind for an agreed sum of money including Buyer’s Premium and Hawaii General Excise Tax.
SEALED BID: Mail Sealed Bids for an item to Mark Glen Auctions. Bring Sealed Bids for an item to the auction. Sealed bids for an item in the auction must be received prior to the start of the auction. All sealed bids will be opened at the beginning of the auction. The high sealed bid for an item in the auction will be announced at the beginning of the auction of the item and will be the opening bid for the item. If a deposit is required and included with a Sealed Bid, the unsuccessful bid and deposit will be returned by certified mail within five (5) business days.
TIMES THE MONEY: Mark Glen Auctions regularly and frequently sells items of a lot which are similar “Time the Money.” Announcement will be made prior to the opening of the bid for the lot that is being sold “Time the Money.” This means that you are bidding on one item of the announced quantity of the lot. If you are the successful (high) bidder, you may buy the total quantity of the lot “Times the Money”; your bid multiplied times the quantity of the lot you desire. If you do not purchase the entire lot the remainder of the lot is offered to the audience at your high bid price. If the entire quantity of the lot does not sell prior to movement to the next lot, this Statement of Terms and Conditions apply.