AUCTION TERMS & CONDITIONS
These Terms and Conditions constitute a legally binding agreement between the bidder ("Bidder") and Pearce & Associates Auction Company ("Auctioneer"). By registering to bid, the Bidder acknowledges that they have read, understood, and agree to be bound by these Terms and Conditions.
1. General Terms
All property is sold AS IS, WHERE IS, with all faults and without warranty of any kind, express or implied.
Auctioneer makes every effort to provide accurate descriptions; however, all descriptions, photographs, videos, specifications, statements, and representations are believed to be accurate but are provided for informational purposes only and are not guarantees.
Operational demonstrations, maintenance records, cosmetic observations, or seller statements do not constitute warranties regarding future performance or condition.
Bidders are strongly encouraged to inspect all items prior to bidding.
All sales are final. No refunds, returns, exchanges, or chargebacks will be permitted.
Auctioneer reserves the right to:
- Add or remove items
- Cancel or postpone the auction
- Reject any bid or bidder at its sole discretion
- Resolve bidding disputes in any manner deemed appropriate
2. Agency Relationship
Pearce & Associates Auction Company is acting solely as the auctioneer, marketing agent, and disclosed representative of the individual sellers offering equipment in this auction.
Unless specifically stated otherwise, Pearce & Associates does not own the assets being offered for sale.
Descriptions, photographs, specifications, maintenance records, and other information have been provided by the seller or obtained from information supplied by the seller. While Auctioneer makes reasonable efforts to present information accurately, Auctioneer does not independently verify the accuracy or completeness of such information and makes no warranties or representations regarding any item.
3. Bidding & Auction Process
This auction utilizes an Extend-One, Extend-All (Soft Close) feature.
If a bid is placed on ANY lot within the final five (5) minutes:
- ALL lots will automatically extend an additional five (5) minutes.
- Bidding will continue until no bids are received on any lot for five (5) consecutive minutes.
Maximum (Proxy) Bidding
When placing a maximum bid:
- The system will automatically bid on your behalf.
- Your maximum bid is not immediately displayed.
- The system increases your bid only as competing bids are received.
4. Buyer's Premium & Taxes
A Buyer's Premium will be added to all purchases:
- 15% on items selling for less than $10,000
- 10% on items selling for $10,000 or more
Applicable sales tax will be collected unless the purchaser provides a valid resale or tax exemption certificate acceptable under applicable law.
For titled assets (if applicable), taxes and registration requirements shall be handled in accordance with the laws of the applicable jurisdiction.
5. Payment Terms
Accepted forms of payment:
- Cash
- Certified Funds
- Wire Transfer
- Credit Card (up to $2,500)
A 3% processing fee applies to all credit card transactions.
Payment is due within two (2) business days following auction close unless otherwise announced.
Equipment will not be released until payment has been received in full and all funds have cleared.
6. Default & Non-Payment
Failure to remit payment within the required timeframe constitutes default.
In the event of default:
- Bidding privileges may be permanently revoked, including MarkNet Alliance affiliated platforms.
- Auctioneer may charge the credit card on file.
- Bidder remains liable for the full purchase price.
- Purchased items may be resold without notice.
- Auctioneer reserves all legal remedies available.
7. Inspection
Equipment is located at various locations throughout the United States.
Inspection opportunities, if available, will be by appointment only with the seller unless otherwise stated.
It is solely the Bidder's responsibility to inspect any property prior to bidding and determine suitability for its intended use.
Failure to inspect does not relieve the Buyer of responsibility for the purchase.
8. Pickup, Shipping & Removal
Removal dates and times shall be coordinated with the seller following payment unless otherwise announced.
Buyer is solely responsible for:
- Scheduling pickup
- Transportation
- Freight arrangements
- Loading
- Rigging
- Insurance
- Shipping costs
- Permits and regulatory compliance
Unless specifically stated otherwise, sellers are not responsible for palletizing, crating, packaging, or preparing equipment for shipment.
Any loading or shipping assistance provided by the seller or Auctioneer is offered solely as a courtesy and is performed entirely at Buyer's risk.
Failure to remove purchased property within the stated removal period may result in:
- Storage charges
- Equipment being deemed abandoned
- Ownership reverting to the seller
- No refund
Auctioneer assumes no responsibility for loss, theft, damage, or storage after the auction.
9. Condition of Property
All property is sold AS IS, WHERE IS, with all faults.
Auctioneer and Seller make no warranty regarding:
- Condition
- Age
- Functionality
- Merchantability
- Fitness for a particular purpose
- Authenticity
- Completeness
- Service history
- Remaining useful life
No allowance, refund, adjustment, or rescission shall be made because of:
- Catalog errors
- Inaccurate descriptions
- Cosmetic defects
- Mechanical defects
- Missing accessories
- Manufacturer updates
- Undisclosed repairs
Photographs are provided for identification purposes only and should not be relied upon as an exact representation of condition.
10. Software, Licensing & Manufacturer Requirements
Many medical aesthetic devices require manufacturer authorization, software transfer, inspection, licensing, certification, activation, service agreements, or recertification before operation.
Buyer acknowledges that:
- Manufacturer approval may be required before ownership transfer.
- Transfer approval is solely at the manufacturer's discretion.
- Manufacturers may charge transfer, inspection, licensing, activation, software, or certification fees.
- Manufacturers may decline future service or software support.
Neither Seller nor Auctioneer guarantees that any manufacturer will transfer ownership, software licenses, warranties, service contracts, training privileges, or future technical support.
All costs associated with these matters shall be the sole responsibility of the Buyer.
11. Regulatory Compliance
Buyer is solely responsible for determining whether purchased equipment may legally be owned, transported, installed, operated, or resold within Buyer's jurisdiction.
Buyer assumes all responsibility for compliance with applicable federal, state, local, licensing, FDA, OSHA, and other regulatory requirements.
12. Bidder Responsibilities
Bidder is responsible for maintaining the confidentiality of their username and password.
All bidding activity conducted under Bidder's account shall be deemed authorized by Bidder.
Violation of applicable laws or misuse of the bidding platform may result in immediate suspension or permanent revocation of bidding privileges.
13. Credit Card Authorization
By registering, Bidder authorizes Auctioneer to charge the credit card on file for:
- Unpaid invoices
- Applicable fees
- Default damages where permitted
Bidder agrees not to initiate a chargeback for any valid auction-related charges.
Failure to comply may result in legal action and permanent suspension from future auctions.
14. Jewelry Disclaimer (If Applicable)
If jewelry is offered:
Pearce & Associates Auction Company is not a certified gemologist.
Descriptions, appraisals, and representations are provided by the seller and are not guaranteed.
Buyers should independently inspect and verify all jewelry prior to bidding.
15. Limitation of Liability
Auctioneer shall not be liable for any indirect, incidental, consequential, punitive, or special damages arising from participation in this auction or the purchase, transportation, ownership, operation, or use of any item purchased.
Bidder's sole remedy, if any, shall be limited to remedies expressly provided by applicable law.
16. Legal & Jurisdiction
These Terms and Conditions shall be governed by the laws of the State of South Carolina.
Any dispute arising from this auction shall be resolved exclusively in the state or federal courts located in Charleston County, South Carolina, and all bidders consent to such jurisdiction and venue.
