Mansfield Electric Co. Retirement Auction #1
4425 N. Peoria Rd
Springfield, IL
STARTS: Wed. June 24
ENDS: Tues. July 14 @ 6:30 P.M. (soft close/Staggered)
VIEWING: Mon. July 13
9:00 A.M. to 3:00 P.M.
Mansfield Electric has been in business since 1954. Ed & Leo are retiring and have a large amount of items to liquidate.
This will be Auction # 1 of ?.
The first auction consists of 500 Lots.
PERSONAL PROPERTY TERMS
ONLINE ONLY BIDDING
PLEASE READ AND REVIEW THE TERMS THOROUGHLY PRIOR TO BIDDING
IF YOU HAVE NOT READ AND UNDERSTOOD THESE TERMS, PLEASE DO NOT BID
BY BIDDING ON THIS AUCTION, BUYER AGREES TO ALL TERMS AND CONDITIONS SET FORTH AND ENTERS INTO A CONTRACTUAL AGREEMENT TO PURCHASE THE ITEM(S) UNDER THE FOLLOWING TERMS AND CONDITIONS:
1. CATALOG: Cory Craig Auctions has put forth every effort in preparing the catalog for this auction to provide accurate descriptions of all items. All lots are sold AS-IS, WHERE-IS, with all faults, imperfections and errors of description. Due diligence is the responsibility of the bidder/buyer. Printed statements or descriptions by staff are provided in good faith and are matters of opinion.
2. PAYMENTS: There is a 15% Buyers Premium WITH A 5% CASH/CHECK/WIRE DISCOUNT added to your total purchase. All sales are final. No refunds All accounts must be settled at the conclusion of the auction. We accept Cash, Checks, Certified Funds, Visa & MasterCard ONLY. NOTHING will be charged to your card until a purchase is made. Only Pickup bidders may pay by check or cash.
Note: Checks may be processed the day of the auction; be sure to have adequate funds in your account. Each transaction necessary to collect insufficient funds will have a $25 fee imposed plus the liability of Default of Buyer below.
*Cash payments of more than $10,000 will require Form 8300 to be filled out by the buyer (or person paying cash on behalf of the buyer) and filed with the IRS, including social security number, driver's license, and occupation.3. DEFAULT OF BUYER: Successful bidder not paying for items within 3 days of the date of the auction will be considered in default. Such default by the Successful Bidder will result in that Bidder's liability to both the Seller and Cory Criag Auctions. Seller shall have the right to (a) declare this contractual agreement cancelled and recover full damage for its breach, (b) elect to affirm this contractual agreement and enforce its specific performance or (c) resell the items either publicly or privately with Cory Craig Auctions and in such an event, the Buyer shall be liable for payment of any deficiency realized from the second sale plus all costs including, but not limited to, the holding/transporting/storage costs of the items, the expenses of both sales, legal and incidental damages of both the Seller and Cory Craig Auctions.
In addition, Cory Craig Auctions also reserves the right to recover any damages separately from the breach of the Buyer. The purchaser agrees to pay all reasonable attorney fees and costs incurred by Cory Craig Auctions in the collection of funds. The purchaser also agrees that a storage/handling fee of 2% per month be added to the balance of any unpaid balance due Cory Craig Auctions and any other costs or losses incurred by the Buyer's failure to adhere to these terms. Any debt collection or dispute proceedings will be litigated or arbitrated in Montgomery County, Illinois at the option of both the Seller and Cory Craig Auctions.
Both the Successful Bidder and Seller shall indemnify Cory Craig Auctions for and hold harmless Cory Craig Auctions from any costs, losses, liabilities, or expenses, including attorney fees resulting from Cory Craig Auctions being named as a party to any legal action resulting from either Bidder's or Seller's failure to fulfill any obligations and undertakings as set forth in this contractual agreement.
4. SHIPPING: The auction company can arrange packing and shipping. Packing and shipping costs are the responsibility of the Buyer and may be quoted before shipping. Fragile or large items will be shipped by a professional shipping company and will result in higher shipping costs. All items will be insured for the purchase price. Our first priority is to deliver your new purchase in excellent condition. We will not ship any chemical or hazardous materials.
5. MISSING ITEMS: We document the contents of each package. Please do not discard the original shipping box and packaging if you think something is missing.
6. PICK UP ITEMS: All pickups are scheduled in advance. Please refer to the auction description for pickup time and location details. Buyers are responsible for verifying that all items are accounted for before removing any boxes from the premises. All purchases must be picked up within 30 days of the auction closing. Items not picked up within 30 days will be considered forfeited and may be resold at the auction company’s discretion. Purchases not picked up within 14 days will be subject to a storage fee of $5 per lot, per day.
ONLINE BIDDERS
BIDDING AND REGISTRATION INFORMATION
BIDDER VERIFICATION: Bidding rights are provisional, and if identity verification is questionable, Cory Craig Auctions has the right to reject the registration, and bidding activity will be terminated. The Seller and Cory Craig Auctions reserve the right to preclude any person from bidding if there is any question as to the person's credentials, mental fitness, etc. Bidders agree to keep their username and password confidential as they are responsible for ANY and ALL activity involving their account. If the registered bidder's username is offensive to Cory Craig Auctions or in their sole opinion detrimental to Bidding Activity, then Cory Craig Auctions reserves the right to delete the bidder from bidding or unilaterally change the username with notification to the Bidder. When using the website, you must obey any and all local state and federal laws. Violations will result in termination of website use privileges.
MAXIMUM BID: When you bid your maximum bid, the current bid price does not automatically advance to your maximum bid. Another bidder has to bid to increase the current price, and the computer will automatically bid up to your maximum in the increments specified.
AUCTION END TIMES: Cory Craig Auctions online only auctions are timed events, and all bidding will close at specified time. However, our auctions also have what is called an ‘Auto Extend’ feature. Any bid placed within the final 5 minutes of an auction results in the auction automatically extending 5 additional minutes. The bidding will extend in 5-minute increments from the time the last bid is placed until there are no more bids, and the lot sits idle for 5 minutes. Therefore, the auction will not close until all bidding parties are satisfied and no one can be outbid at the last seconds without having another opportunity to bid again.
TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software, internet or any other online auction-related technologies, Cory Craig Auctions reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software, nor Cory Craig Auctions shall be held responsible for a missed bid or the failure of the software to function properly for any reason.
CONDUCT OF THE AUCTION: Conduct of the auction and increments of bidding are at the direction and discretion of Cory Craig Auctions. Cory Craig Auctions reserves the right to reject any and all bids for any reason and also reserves the right to cancel this auction or remove any item or lot from this auction prior to the close of bidding. All decisions of Cory Craig Auctions are final.
YOUR BID ON THIS AUCTION INDICATES BOTH AN UNDERSTANDING AND AN ACCEPTANCE OF THE TERMS OF THIS CONTRACTUAL AGREEMENT BETWEEN YOURSELF AND BOTH CORY CRAIG AUCTIONS. AND THE SELLER AND THAT YOU, AS THE BIDDER, ARE PREPARED TO PURCHASE ITEMS UNDER THESE TERMS AND CONDITIONS.
Pay & Pick Up
Thurs. July 16
