Auction Terms & Conditions
These Terms and Conditions constitute a legally binding agreement between the bidder (“Bidder”) and Pearce & Associates Auction Company (“Auctioneer”). By registering and bidding, you agree to all terms outlined herein.
1. General Terms
All property is sold AS IS, WHERE IS, with all faults and without warranty of any kind, expressed or implied.
Auctioneer makes every effort to provide accurate descriptions; however, all descriptions, statements, and representations are matters of opinion only and are not guarantees.
Bidders are strongly encouraged to inspect all items prior to bidding.
All sales are final. No refunds, returns, 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
2. Bidding & Auction Process
This auction utilizes an Auto-Extension (soft close) feature.
If a bid is placed on a lot within the final 5 minutes:
- That lot will extend an additional 5 minutes
- Bidding will continue until no bids are placed for 5 minutes consecutively
Max Bid / Proxy Bidding
When placing a max bid:
- The system will automatically bid on your behalf
- Your max bid is not immediately shown
- The system only increases bids as competing bids are placed
3. Buyer’s Premium & Taxes
A 15% Buyer’s Premium will be added to all purchases:
Applicable sales tax will be collected unless a valid resale certificate is provided.
For titled items (vehicles, vessels, etc.):
- Sales tax will be paid at the time of registration per state law
4. 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.
All invoices must be paid within 2 business days of auction close unless otherwise stated.
5. Default & Non-Payment
Failure to pay within the stated timeframe constitutes default.
In the event of default:
- The bidder may be revoked from future auctions (including MarkNet platforms)
- The Auctioneer may charge the bidder’s credit card on file
- The bidder remains liable for the full purchase amount
- Items may be resold without notice
6. Pickup, Removal & Abandonment
All items must be removed within the scheduled pickup period.
Failure to remove items will result in:
- Items being deemed abandoned
- Ownership reverting to seller or Auctioneer
- No refunds issued
Auctioneer is not responsible for:
- Damage
- Theft
- Storage of items after auction
Any assistance provided by Auctioneer staff is at the bidder’s risk.
7. Condition of Items
All items are sold AS IS, WHERE IS.
No guarantees are made regarding:
- Condition
- Authenticity
- Functionality
- Completeness
No allowances will be made for:
- Errors in cataloging
- Defects not disclosed
8. Bidder Responsibilities
Bidders are responsible for:
- Maintaining confidentiality of login credentials
- All activity is conducted under their account
Any misuse of the platform or violation of laws will result in the termination of bidding privileges.
9. Credit Card Authorization
By registering, bidder agrees:
- Auctioneer may charge the card on file for unpaid invoices
- Card may be charged if bidder fails to complete payment or pickup
- Bidder will not dispute or chargeback valid charges
Failure to comply may result in:
- Legal action
- Permanent bidding suspension
10. Jewelry Disclaimer (If Applicable)
Pearce & Associates Auctioneers are not certified gemologists.
All jewelry descriptions and appraisals:
- Are provided by the seller
- Are not guaranteed
Buyers are strongly encouraged to inspect and verify all items prior to bidding.
11. Legal & Jurisdiction
All disputes shall be resolved in:
Charleston County, South Carolina
By participating, bidder agrees to jurisdiction and venue in this location.
