Velvet 1 Button Peak Coat w/ Full Satin Lapel - Style: 7561C-R Colors: Black & Navy

AUCTION TERMS & CONDITIONSNovember 9, 2026 - Wholesale Uniform, Formalwear & Apparel Inventory AuctionWelcome to Beloit Auction. All property offered in this auction is located at 640 Darling Drive, Suite 100, Vernon Hills, Illinois, unless otherwise stated.This auction consists primarily of wholesale uniforms, formalwear, chefwear, retail apparel, and related inventory offered in commercial quantities.By registering to bid, placing a bid, or purchasing any property offered for sale, each bidder and buyer agrees to be bound by these Terms & Conditions. Please read them carefully before participating.(1.) Bidder RegistrationYOU must register to bid. Auctioneer may establish registration requirements and qualification criteria in Auctioneer's sole discretion.You must provide all identifying, contact, and financial information requested during registration.Auctioneer reserves the right to refuse registration, revoke or suspend bidding privileges, reject any registration, or allow participation by an unregistered bidder at Auctioneer's sole discretion.Auctioneer may require additional identification, business information, bank information, proof of funds, deposit, or other verification before approving a bidder or accepting bids.By registering for this auction and placing a bid, Buyer acknowledges that they have read, understand, and agree to be legally bound by these Terms & Conditions.Each registered bidder is assigned a unique bidder number. Buyer is solely responsible for all bids placed using that bidder number.All bids placed through Buyer's account are irrevocable and constitute a legally binding obligation to purchase if Buyer is the successful bidder.Buyer is solely responsible for every bid and maximum bid entered into the bidding platform, whether entered intentionally, accidentally, or by mistake.(2.) Account ResponsibilityBuyer is responsible for maintaining the confidentiality of their username, password, bidder number, and account credentials.Buyer is liable for any and all activity occurring under their account.Buyer agrees to immediately notify Auctioneer of any unauthorized use of their account.(3.) Auction Format & Auctioneer's DiscretionThis is an online-only, no-reserve public auction. There are no minimum bids or Seller reserves. Each published lot will sell to the successful high bidder in accordance with these Terms & Conditions.Auctioneer reserves the right, in its sole discretion, to:Reject any bid.Regulate bidding increments.Resolve bidding disputes.Reopen bidding when reasonably necessary to resolve a bidding or technical issue.Combine or divide lots prior to bidding being opened on the affected lot.Correct clerical, administrative, cataloging, quantity, or inventory errors.Correct photographs, descriptions, lot numbers, or other listing information.Take reasonable action necessary to address a material technical malfunction or bidding-platform error.Once bidding has opened on a published lot, that lot is committed to the auction and will sell to the successful high bidder in accordance with these Terms & Conditions.Auctioneer's records of bidding activity, invoices, communications, and transactions shall be deemed final and conclusive in resolving any dispute.Auctioneer's decisions shall be final and binding upon all parties.(4.) Inventory Quantities, Counts & Lot DescriptionsThe quantities stated in the auction catalog are based upon Seller's inventory records and information available to Auctioneer and are believed to be substantially accurate. Due to the volume and nature of this wholesale inventory, all quantities should be considered approximate and are not guaranteed to represent an exact physical piece count.Reasonable efforts have been made to accurately identify and describe the merchandise included in each lot. However, minor variations may exist between the stated quantity and the actual quantity due to normal inventory variances, packaging, size or color assortments, prior inventory records, counting differences, or similar circumstances.Descriptions may include style numbers, SKUs, colors, sizes, size assortments, quantities, wholesale pricing information, manufacturer's information, photographs, stock photographs, representative photographs, and other inventory information.Buyer acknowledges and agrees that:Catalog quantities are based upon available inventory records and are believed to be substantially accurate but are not guaranteed as exact piece counts.Minor variations in quantities, sizes, colors, styles, packaging, cartons, cases, or assortments may occur.Buyer is purchasing the lot as a whole and not merchandise on a guaranteed per-piece basis.The final purchase price is the successful bid price for the lot, plus the Buyer's Fee and applicable sales tax, and is not calculated on a per-piece basis.Reasonable variations between the stated quantity and the actual quantity shall not be grounds for cancellation of the sale, refund, credit, or adjustment of the purchase price.If Auctioneer discovers a material cataloging, inventory, quantity, or description error before the affected lot closes, Auctioneer may correct the catalog information or take other reasonable action permitted under these Terms & Conditions.(5.) Inspection & Property ConditionAll property is sold "AS IS, WHERE IS, WITH ALL FAULTS."Neither Auctioneer nor Seller makes any representation or warranty, express or implied, regarding authenticity, age, condition, quality, completeness, merchantability, fitness for a particular purpose, title, or non-infringement.Photographs, videos, descriptions, quantities, counts, wholesale values, measurements, dimensions, and condition information are provided solely as a convenience and are not representations, warranties, or guarantees.Buyer acknowledges that they are not relying upon any oral statements, opinions, estimates, representations, or warranties made by Auctioneer, Seller, employees, agents, or representatives except as expressly stated in these Terms & Conditions.Buyer is solely responsible for inspecting the merchandise and determining its condition, quality, completeness, suitability, and value for Buyer's intended purpose before bidding.All sales are final. No refunds, returns, exchanges, credits, or adjustments will be made except as expressly provided in these Terms & Conditions.(6.) Photographs & Representative SamplesDue to the substantial quantity of merchandise included in this auction:Auction photographs may show representative merchandise rather than every individual piece included in a lot.Stock photographs may be used when appropriate.Photographs showing a particular size, color, package, carton, case, or individual piece do not necessarily mean that every item contained within the lot is identical to the item photographed.Large-quantity lots may remain in warehouse racking or storage locations rather than being completely removed or staged for photography or inspection.Representative pieces may be pulled or staged for photography and preview when reasonably practical.(7.) Preview & InspectionPreview and inspection opportunities will be available for this auction.Please refer to the auction listing for the specific preview date(s), time(s), location, and any applicable instructions or requirements.Buyers are strongly encouraged to inspect merchandise before bidding.Because of the volume of inventory, Auctioneer and Seller do not intend to remove all inventory from warehouse racking or stage every item for inspection.For large-quantity lots, representative merchandise may be made available for inspection when reasonably practical.Property may not be opened, moved, disassembled, altered, or removed from its warehouse location without authorization.Buyers are responsible for satisfying themselves as to condition, quality, approximate quantity, sizes, colors, styles, packaging, assortments, suitability, and value before bidding.Failure to inspect property does not relieve Buyer of any obligation after the auction.(8.) Payment TermsBuyer's FeeA 16% Buyer's Fee will be added to the final bid price of each lot, plus applicable sales tax.The Buyer's Fee is earned by Auctioneer as compensation for conducting the auction and is non-refundable.Payment MethodAll payments for this auction must be made by wire transfer.Wire transfer is the only accepted form of payment for this auction.Cash, personal checks, business checks, cashier's checks, certified checks, money orders, credit cards, debit cards, ACH payments, and other forms of payment will not be accepted.Wire transfer instructions will be provided by Beloit Auction to successful bidders.Buyer is responsible for all bank charges, wire transfer fees, intermediary bank fees, currency conversion charges, and other expenses associated with transmitting payment.Buyer must include any information requested by Auctioneer with the wire transfer so payment can be properly identified and applied to Buyer's invoice.Payment is not considered complete until the wire transfer has been received, verified, and credited as cleared funds to the account designated by Auctioneer.No merchandise will be released to Buyer, Buyer's carrier, freight company, pickup service, or other authorized representative until full payment has been received and verified by Beloit Auction.Successful bidders are responsible for initiating their wire transfers sufficiently in advance to ensure payment is received within the required payment period.Time is of the essence with respect to all payment and removal deadlines.Payment DeadlineSuccessful bidders will be invoiced following the auction.Please refer to the auction listing and invoice for the applicable payment deadline and payment instructions.All payments must be received and verified by the stated payment deadline.Failure to make full payment by the stated deadline constitutes a default under these Terms & Conditions.(9.) Wire Transfer & Payment VerificationBuyer is solely responsible for transmitting the full amount shown on Buyer's invoice.Any wire transfer fees or bank charges deducted from the amount transmitted remain Buyer's responsibility.If Auctioneer receives less than the total amount due, the invoice will remain unpaid until the remaining balance has been received in cleared funds.A wire confirmation, receipt, screenshot, SWIFT confirmation, or other evidence that Buyer initiated a wire does not constitute payment until the funds have actually been received and verified by Auctioneer.Buyer is responsible for verifying wire instructions directly with Beloit Auction before transmitting funds.Auctioneer will not release merchandise based solely upon proof that a wire transfer has been initiated.Any attempted recall, reversal, cancellation, dispute, or recovery of a wire transfer after payment may constitute a default and does not eliminate Buyer's contractual obligations.(10.) Default & RemediesIf Buyer fails to pay for purchases, fails to remove property within the stated removal period, or otherwise breaches these Terms & Conditions, Auctioneer may, to the extent permitted by law:Cancel the transaction.Resell the property at public auction or private sale.Suspend or permanently revoke Buyer's bidding privileges.Refer the account to a collection agency.Commence legal proceedings to recover all amounts due.Buyer shall remain liable for any deficiency, storage charges, administrative fees, resale expenses, attorney's fees, court costs, collection costs, and all other damages and expenses recoverable as a result of Buyer's default.(11.) Buyer RemovalPlease refer to the auction listing and Buyer's invoice for the specific removal date(s), time(s), location, appointment requirements, and removal instructions.All removal is by appointment unless otherwise stated in the auction listing.Successful buyers are solely responsible for arranging and paying for all trucking, freight, transportation, carrier, and other transportation expenses necessary to remove their purchases.Seller's warehouse personnel will be responsible for locating, staging or retrieving purchased merchandise and loading the appropriate purchased inventory onto Buyer's or Buyer's carrier's truck.Beloit Auction does not provide forklifts, forklift operators, loading equipment, loading labor, rigging, packaging, pallets, trucking, freight, or transportation for purchases from this auction.Buyers purchasing multiple lots or substantial quantities may be assigned specific pickup dates and times based upon the volume of merchandise purchased and the number or type of trucks required.Buyers and carriers must not arrive at the facility without a confirmed removal appointment.Merchandise will not be released until Auctioneer verifies payment in cleared funds and authorizes release.All purchases must be removed during the established removal period unless other arrangements are approved in advance by Auctioneer and Seller.(12.) Third-Party Carriers & Bills of LadingBuyers using a freight carrier, trucking company, moving company, or other third-party pickup service must provide Auctioneer with advance notice.A completed Bill of Lading (BOL) or other shipping documentation requested by Auctioneer must be provided before merchandise will be released.The Bill of Lading or other documentation must identify the purchaser, invoice number, applicable lot number(s), and authorized carrier or pickup company.Merchandise will not be released to an unauthorized third-party carrier or pickup service.Buyers are responsible for ensuring their carrier arrives with vehicles and equipment appropriate for the quantity and type of merchandise purchased.Authorization of a carrier to pick up merchandise does not relieve Buyer of any obligation under these Terms & Conditions.(13.) Freight, Detention & Transportation ExpensesAll trucking, freight, transportation, carrier, detention, demurrage, storage, redelivery, waiting-time charges, and related transportation expenses are the sole responsibility of Buyer.Buyers are encouraged to allow adequate time when scheduling freight and transportation.Auctioneer and Seller are not responsible for detention, demurrage, carrier waiting-time charges, storage charges, redelivery charges, or other transportation-related expenses.Transportation expenses will not be deducted from the purchase price or reimbursed by Auctioneer or Seller.(14.) Failure to Remove / Abandoned PropertyBuyers who anticipate difficulty meeting the published removal deadline must contact Auctioneer before the deadline.Any extension or alternative removal arrangement must be approved in writing by Auctioneer and Seller.All purchases must be removed no later than the removal deadline published for this auction unless an alternative arrangement has been approved in writing.Property remaining after the removal deadline without an approved arrangement may be deemed abandoned.Buyer may forfeit all right, title, and interest in abandoned property without refund.Abandoned property may be retained, stored, disposed of, donated, or resold as permitted by law.Buyer shall remain responsible for applicable storage, handling, disposal, administrative, transportation, and other expenses resulting from Buyer's failure to timely remove purchases.Failure to remove purchases does not relieve Buyer of the obligation to pay the purchase price, Buyer's Fee, applicable taxes, or other amounts due.(15.) Sales Tax & ExemptionsSales tax will be collected as required by applicable law.Buyers claiming a sales tax exemption must submit a valid exemption certificate and receive Auctioneer approval before bidding.No retroactive sales tax refunds will be issued.Buyers are responsible for reporting and paying any applicable use tax required by their state or other taxing authority.(16.) CommunicationsBy registering for this auction, Buyer consents to receive communications from Beloit Auction by email, text message, telephone, or other electronic means regarding bidder registration, bidding activity, invoices, payments, removal, freight, auction updates, account matters, and other auction-related communications.Buyer also consents to receive Beloit Auction newsletters, auction announcements, promotional emails, and other marketing communications. Buyer may unsubscribe from marketing emails at any time.Transactional communications relating to registration, bidding, invoices, payments, removal, account activity, and other auction-related matters are essential to administration of the auction and cannot be unsubscribed from.(17.) Legal ContractAt the close of each lot, a legally binding contract of sale is created between Buyer and Seller in accordance with applicable law, including Uniform Commercial Code § 2-328 where applicable.All bids are irrevocable.Ownership of purchased property transfers to Buyer only after payment has been received in full with cleared funds.Risk of loss passes to Buyer upon release of the purchased property to Buyer or Buyer's authorized representative.Buyer is responsible for safeguarding purchased merchandise after taking possession.(18.) Buyer ResponsibilitiesBuyer is responsible for arranging all transportation required to remove purchased merchandise.Buyer is responsible for complying with applicable federal, state, and local laws and regulations relating to transportation, possession, resale, export, ownership, and use of purchased merchandise.Buyer is responsible for ensuring that its employees, agents, contractors, freight companies, carriers, and other representatives comply with these Terms & Conditions while on the auction premises.(19.) Auctioneer & Staff Bidding / Seller BiddingBeloit Auction owners, officers, employees, affiliates, and members of their immediate household may bid on and purchase merchandise unless otherwise prohibited by applicable law.Any bidding by Auctioneer personnel shall be conducted in accordance with applicable law.Seller, and anyone acting on Seller's behalf, may not bid directly or indirectly on the inventory offered in this auction.(20.) IndemnificationBuyer agrees to indemnify, defend, and hold harmless Beloit Auction & Realty, Inc., Beloit Auction Service, Inc., Seller, and their respective owners, officers, directors, employees, agents, affiliates, representatives, successors, and assigns from and against claims, demands, damages, losses, liabilities, judgments, costs, expenses, attorney's fees, and causes of action arising out of or related to Buyer's registration, bidding, payment, pickup, loading, transportation, possession, ownership, resale, or use of purchased property.This indemnification obligation shall survive completion of the auction and Buyer's removal of purchased property.(21.) Force MajeureAuctioneer shall not be liable for delays, interruptions, or failure to perform resulting from circumstances beyond its reasonable control, including severe weather, fire, flood, natural disaster, labor disruption, utility outage, internet or communication failure, governmental action, transportation disruption, epidemic or pandemic, acts of God, or other force majeure events.Auctioneer may postpone, extend, suspend, or reschedule affected auction activities as reasonably necessary.(22.) Age RequirementBuyers and bidders must be at least 18 years of age to register and participate in this auction.(23.) Premises LiabilityAll persons entering the auction location for preview or removal do so at their own risk.Buyers are responsible for their own safety and the safety of their employees, agents, contractors, movers, carriers, and guests.Buyers assume responsibility for injuries, property damage, or losses occurring while inspecting or removing purchased property except to the extent otherwise required by law.Buyers are responsible for damage caused by themselves, their employees, agents, contractors, freight companies, carriers, or other representatives while on the premises.(24.) Media & MarketingBy participating in this auction, Buyer grants Auctioneer permission to photograph, video record, or otherwise capture images or audio during preview or removal.Buyer authorizes Auctioneer to use such photographs, videos, or recordings for advertising, promotional, educational, historical, or marketing purposes without compensation or further notice.(25.) Staggered ClosingThis auction utilizes a staggered closing format.Lots will begin closing at the scheduled time and will close at the intervals displayed on the online bidding platform unless extended by the Soft Close feature.(26.) Soft CloseIf a bid is placed within 90 seconds of a lot's scheduled closing time, bidding on that lot will automatically extend an additional 90 seconds.Additional extensions will continue whenever qualifying bids are received during the extended bidding period until no further qualifying bid is received and the lot closes.(27.) Technology DisclaimerAuctioneer is not responsible for interruptions, internet outages, software failures, delayed bid transmissions, mobile-device issues, power failures, or other technological malfunctions that may affect bidding.In the event of a material technical malfunction or bidding-platform error, Auctioneer may temporarily suspend bidding, extend a closing, void an affected transaction, or re-offer a lot when reasonably necessary to address the malfunction.Auctioneer's determination regarding a technical issue, bidding dispute, software malfunction, or system interruption shall be final and binding upon all parties.(28.) SeverabilityIf any provision of these Terms & Conditions is determined by a court of competent jurisdiction to be invalid, illegal, or unenforceable, that determination shall not affect the validity or enforceability of the remaining provisions.The remaining provisions shall continue in full force and effect to the fullest extent permitted by law.(29.) Governing Law & VenueThese Terms & Conditions shall be governed by and construed in accordance with the laws of the State of Wisconsin, without regard to its conflict-of-law principles.Any dispute arising out of or relating to this auction, these Terms & Conditions, or the purchase or sale of property shall be brought exclusively in the Circuit Court of Rock County, Wisconsin, unless otherwise required by applicable law.Buyer agrees that Auctioneer shall be entitled to recover its reasonable attorney's fees, court costs, collection costs, and other expenses incurred in enforcing these Terms & Conditions, to the fullest extent permitted by law.(30.) Limitation of LiabilityAuctioneer's maximum liability to any Buyer or bidder shall be limited to the amount actually paid by Buyer for the specific lot giving rise to the claim.To the fullest extent permitted by law, Auctioneer, Seller, and their respective owners, officers, directors, employees, agents, affiliates, or representatives shall not be liable for indirect, incidental, consequential, special, exemplary, or punitive damages, including lost profits, lost business opportunities, transportation costs, freight charges, detention charges, labor costs, storage costs, travel expenses, loss of use, or other economic losses arising out of or relating to participation in this auction or the purchase, removal, transportation, resale, ownership, or use of purchased property.(31.) Section HeadingsSection headings are provided solely for convenience and shall not affect interpretation or enforcement of these Terms & Conditions.(32.) Entire AgreementThese Terms & Conditions constitute the entire agreement between Buyer, Seller, and Auctioneer with respect to Buyer's participation in this auction and purchase of property and supersede prior or contemporaneous oral or written statements or representations concerning Buyer's participation or purchase.No modification, amendment, or waiver of these Terms & Conditions shall be binding unless made in writing by Auctioneer.(33.) Acceptance of TermsBy registering to bid, placing a bid, or purchasing any property offered for sale, Buyer acknowledges that they have read, understand, and agree to be legally bound by these Terms & Conditions.Buyer further acknowledges that these Terms & Conditions are enforceable whether or not Buyer has read each provision in its entirety.Failure to read these Terms & Conditions does not relieve Buyer of any obligation arising from participation in this auction.

AUCTION END DATE:

Monday, November 9, 2026 (the auction starts to close at 1:07 PM).
This auction features a staggered closing with a 90-second extended bidding feature. If a bid is placed within the final 90 seconds of a lot, that lot will be extended an additional 90 seconds. Extensions will continue until no additional qualifying bids are received.

PAYMENT:

ALL PAYMENTS MUST BE MADE BY WIRE TRANSFER.
Successful bidders will be invoiced following the auction. All invoices will be emailed out on or before 3:00 PM on Tuesday, November 10, 2026.
Payments must be received and verified during the established payment period of November 12-13, 2026.
No merchandise will be released until payment has been received and verified in full.
First paid will be the first scheduled.

AUCTION PICKUP / REMOVAL:

Buyer removal will take place November 18–25, 2026.
ALL REMOVAL IS BY APPOINTMENT ONLY.
Winning bidders will receive removal and scheduling instructions following the auction. Buyers purchasing multiple lots or substantial quantities may be assigned pickup dates and times based upon the volume of merchandise purchased and the number or type of trucks required.
Buyers and carriers must not arrive at the facility without a confirmed removal appointment.
Buyers are solely responsible for arranging and paying for all trucking, freight, transportation, carrier, and related transportation expenses.
Seller's warehouse personnel will be responsible for locating, staging or retrieving, and loading purchased inventory onto the buyer's or buyer's carrier's truck.
Beloit Auction does not provide forklifts, forklift operators, loading equipment, loading labor, rigging, packaging, pallets, trucking, freight, or transportation for purchases from this auction.
All purchases must be removed during the established removal period unless other arrangements are approved in advance.