GAA Classic Cars

General Bidder Rules

GENERAL BIDDER RULES

Greensboro Auto Auction Inc dba Greensboro Classic Cars, herein referred to as Auction Company is merely performing an auction service, and is responsible only for the warranties and guarantees set forth herein.

1. Purchaser agrees to accept ownership of merchandise/property at the fall of the gavel and he/she willingly assumes all responsibility and liability for said merchandise/property at the time and without exception.

2. Purchaser's Agreement: PURCHASER agrees to purchase Said Lot for purchase price of last bid plus applicable buyer's premium for this auction; that upon making settlement that NO stop payment of funds will be honored; and any stop payment order of check or giving a check which is returned marked "insufficient funds"; shall be deemed by the parties to be prima facie evidence of Fraud existing at the time the transaction was consummated and shall be construed by the parties as an intent to defraud in order to consummate the trans action.

3. All transactions are to abide by the Laws and Rules of Uniform Code of North Carolina.

4. All bids are to be per lot unless otherwise mentioned by the Auctioneer.

5. The highest bidder is to be the buyer. In all cases of disputed bids, the lot shall be resold, but the auctioneer will use his judgment as to the good faith of all claims and his decision is final.

6. BIDDERS are required to register and give full identification prior to bidding and are required to use the number issued to them identifying themselves as the successful bidder. Invoicing on purchases will be done according to the information on the Bidder Registration documents.

7. All items are offered for sale by Lot Number. The auctioneer will accept bids from the bidders present in the room, absentee bidders, or absentee bidders who leave written bids in advance of the auction. The auctioneer may also execute bids in response to salesroom or absentee bids. The auctioneer has the right to place a bid for consignor up to the reserve amount. Under no circumstances will the auctioneer place a bid on behalf of the consignor at or above the reserve. Further the consignor has the right to "lift" the reserve price whereupon it will be sold to the highest bidder at the hammer. When the reserve has been lifted, the auctioneer will duly announce it.

8. The seller will afford every opportunity to view all lots prior to sale. However the purchaser must understand that he/she is buying property entirely upon his own or his agent's personal examination, inspection and opinion. All lots are sold "AS IS WHERE IS", with all faults and defects. Any guarantees written or implied as to the authenticity, originality, or condition of any lot are not the guarantee of the Auction Company, and should be determined by the purchaser's own inspection and discretion. The vehicle and information presented at the time of auction is final and supersedes any previous representations. The information provided is deemed reliable, but is not guaranteed.

9. SHOULD any dispute arise after the sale, the auctioneer's records shall be conclusive in all respects.

10. Auction Company is not responsible for lost, stolen or damaged properties. Lots must be removed from the auction site within 48 hours of the auction end. If not claimed, the auction company has the right to remedy, move and store at owner's expense.

11. Auctioneer Company is not liable for any third party liabilities. Auction Company is not responsible for any and all liabilities.

12. Auction Company will provide a service for lots that do not reach agreeable sale price, so as to endeavor to secure a property buyer for the seller/consignor.

13. This service is conducted by Auction Company to accept offers on such lots.

14. Any and all lots sold in this manner will be sold by the same terms as lots sold on the auction block.

15. Auction Company is entitled to any and all fees or commissions on any lot sold, due to or presented at an auction event up to 21 days after said event.

16. Auction Company shall be entitled to any Attorney's Fees incurred in the enforcement of this rules contract or the enforcement of Sell/Buy Agreement.

17. Auction Company shall be entitled to any Attorney's Fees incurred in the enforcement of this rules contract or the enforcement of Sell/Buy Agreement.

18. Upon being awarded high bid, purchaser is responsible to pay end hammer price plus auction fee. Non-payment will deem purchaser liable for any losses incurred in the resale of said lots to include, but not inclusive of freight, storage, difference in received value or auction fees.

19. Purchaser authorizes, without further notice, Auction Company to recover any deficiencies due to seller and/or Auction Company and to charge purchaser's credit card for said amount(s).

20. If the buyer fails to comply with any of these General Rules and Terms, Auction Company may, in addition to asserting all remedies available by law including the right to hold such defaulting buyer liable for the purchase price (i) cancel the sale, retaining as liquidated damages any payment made by the buyer, (ii) resell the property without reserve at public auction or privately on seven days notice to the buyer or (iii) take such action that we deem necessary or appropriate. If Auction Company resells the property, the original defaulting buyer shall be liable for the payment of any deficiency in the purchase price and all costs and expenses, including warehousing, the expense of both sales, responsible attorney's fees, commission, incidental damage and all charges due hereunder. In the event that such buyer pays a portion of the purchase price for any of all lots purchased, Auction Company shall apply the payment received to such lot or lots that Auction Company, in our sole discretion, deems appropriate. Any buyer who fails to comply with these General Rules and Terms will be deemed to have granted Auction Company a security interest in, and Auction Company may retain as collateral security for such buyer's obligation to Auction Company any property in Auction Company possession owned by such a buyer. Auction Company shall have benefit of all rights of a secured party under the Uniform Commercial Code adopted in the state where the auction is held. This agreement shall be governed by and interpreted under the laws of the state of North Carolina. By signing this document, both parties agree that any action that must be taken to enforce the terms of this agreement shall be brought in the Circuit Court of Greensboro, North Carolina.

21. Any litigation brought forward by bidder/purchaser will be against seller. Auction Company is merely performing an auction service, and does not own the property. Upon litigation, bidder/purchaser will not be entitled to recovery fees earned by Auction Company duly performing its service.

22. Lots identified as having "matching numbers" may have additional seller requirements. For additional information, review the "matching numbers" form. The Form is available online under "Sell A Car" or you can request a fax of the information by contacting 1-855-862-2257 or This e-mail address is being protected from spambots. You need JavaScript enabled to view it. .

23. Please be advised that the auction you are attending may be televised live or on a tape delayed basis. There may also be photographers or other forms of media present. Your presence in the general location constitutes your consent to Auction Company and its licensees to use your image, voice and likeness throughout the universe, in any and all media, in perpetuity as well as to live transmissions. This also applies to any guests or family members that are with you.

24. ALL BIDS ARE FINAL AT AUCTION. There is no "Cooling Off Period". If you are awarded the final bid, ownership changes hands at the drop of the hammer. You own the merchandise and are responsible for payment in full.

TERMS

1. Buyers are subject to premiums added automatically to the final hammer price.

2. Transactions may be subject to local and state sales tax.

3. Titles on purchased lots will be processed and mailed 14 business days after auction contingent upon confirmed payment.

4. All purchases must be paid for in one (1) hour.

NOTE: If making multiple purchases at the auction, please consult with the auction bidder registration staff on how to make a single payment versus multiple payments.

5. For customer protection, lost bidder badges cannot be replaced. If a badge is misplaced, a new customer number may be issued for an additional $100 registration fee.

6. Bidder Registration fees are non-refundable.