Hwy 51 Auction Terms & Conditions
Important notice: Highway 51 Auction usually auctions lots at the rate of 70-90 lots per hour. On some occasions the bid software or the Internet may not be able to keep up with the pace of the auction. We recommend placing a realistic absentee bid now as insurance to avoid disappointment. Occasionally the auctioneer may eliminate or reject a live simulcast bid, and the auctioneer may also reopen a lot after the close of the live bidding (usually because we missed an audience bid), and may reject your bid even if it shows you as the winning bidder. By bidding via Live Bidding, you agree that Highway 51 Auction may award the lot to another bidder at its sole discretion under the circumstances described above or any other reasonable circumstances. Since live simulcast bids are not shown to us until we open the lot on the floor, we treat those bids just like floor bids. In most cases the floor responds before the online bid is presented to us, due to Internet lag time, so for consistency we have made it a policy that floor bids are always considered first over tie live simulcast bids. Also please note that all Highway 51 Auction lots purchased through live simulcasting carry an 15% Buyer's Premium. Please make sure you read the Terms and Conditions before you bid.
The lots listed in the catalog will be offered by Highway 51 Auction as owner or as agent for consignor(s) subject to the following terms and conditions:
Before the Sale
All lots are sold "AS IS" and are not eligible for return or refund. Prospective buyers are strongly advised to personally examine any property in which they are interested before the auction takes place. Condition reports are usually available on request. Just because a condition report is not provided with the item does that mean the item is in "perfect" condition. All lots are sold "AS IS" and without recourse, and neither Cave Creek Auction nor its consignor(s) makes any warranties or representations, express or implied, with respect to such lots. Neither Cave Creek Auction nor its consignor(s) makes any express or implied warranty or representation of any kind or nature with respect to merchantability, fitness for purpose, correctness of the catalog or other description of the physical condition, size, quality, rarity, importance, medium, material, genuineness, attribution, provenance, period, culture, source, origin, exhibitions, literature or historical significance of any lot sold. The absence of any reference to the condition of a lot does not imply that the lot is in perfect condition or completely free from wear and tear, imperfections or the effects of aging. No statement, whether written or oral, and whether made in this catalog, or in supplement, a bill of sale, a salesroom posting or announcement, the remarks of an auctioneer, or otherwise, shall be deemed to create any warranty, representation or assumption of liability. Cave Creek Auction makes no warranty or representation, express or implied, that the purchase will acquire any copyright or reproduction rights to any lot sold. Highway 51 Auction expressly reserves the right to reproduce any image of the lots sold in this catalog. We do not refund shipping.
At the Sale
Refusal of admission
Highway 51 Auction has the right, at our complete discretion, to refuse admission to the premises or participation in an auction and to reject any bid.
Registration before bidding
A prospective buyer must complete and sign a registration form and provide identification before bidding. We may require bank or other financial references.
Bidding as principal
When making a bid, a bidder is accepting personal liability to pay the purchase price, including the appropriate buyer's premium of the final bid price, unless it has been explicitly agreed in writing with Highway 51 Auction before the commencement of the sale that the bidder is acting as agent on behalf of an identified third party acceptable to Highway 51 Auction and that Highway 51 Auction will only look to the principal for payment.
Absentee bids
We will use reasonable efforts to carry out written bids given to us prior to the sale for the convenience of clients who are not present at the auction in person, by an agent, or by telephone. Bids must be placed in U.S. currency. If we receive written bids on a particular lot for identical amounts, and these are the highest bids on the lot at the auction, it will be sold to the person whose written bid was received and accepted first. Execution of written bids is a free service undertaken subject to other commitments at the time of the sale and we do not accept liability for failing to execute a written bid or for errors and omissions in connection with it.
Telephone bids
If a prospective buyer makes arrangements with us prior to the commencement of the sale we will use reasonable efforts to contact them to enable them to participate in the bidding by telephone, but we do not accept liability for failure to do so or for errors and omissions in conjunction with telephone bidding.
Reserves
Some lots in the sale are subject to a reserve which is the confidential minimum price below which such lot will not be sold. Reserves are agreed upon with consignors, or the absence thereof, in the absolute discretion of Highway 51 Auction. If a reserve is not met on an item, the item shall then be passed.
The auctioneer may open the bidding on any lot below the reserve by placing a bid on behalf of the seller. The auctioneer may continue to bid on behalf of the seller up to the amount of the reserve, either by placing consecutive bids or by placing bids in response to the other bidders.
Auctioneer's discretion
The auctioneer has the right at his or her absolute and sole discretion to refuse any bid, to advance the bidding in such a manner as he may decide, to withdraw any lot, and in the case of error or dispute, and whether during or after the sale, to determine the successful bidder, to continue the bidding, to cancel the sale or to re-offer and resell the item in dispute. If any dispute arises after the sale, our sale record in conclusive.
Successful bid
The highest bidder acknowledged by the auctioneer will be the purchaser. In the event of a dispute between bidders, the auctioneer has final discretion to determine the successful bidder or to re-offer the lot in dispute. If any dispute arises after the sale, the Highway 51 Auction sale record shall be conclusive. Title passes upon the fall of the auctioneer's hammer to the highest acknowledged bidder subject to the conditions of sale set forth herein, and the bidder assumes full risk and responsibility.
After the Sale
Buyer's premium
In addition to the hammer price, the buyer agrees to pay Highway 51 Auction a buyer's premium as well as any applicable taxes. A buyer's premium of 15% for purchases online and 10% for purchases live in person. Buyers paying for purchases using a credit card will be charged an additional 3% convenience fee which will be added to your invoice upon checkout. All purchases are subject to state and local sales and use taxes, when applicable.
Payment
The buyer must pay the entire amount due (including the hammer price, buyer's premium and any applicable taxes) no later than 4 pm on the second business day following the sale. Payments may be made in U.S. dollars by certified or cashier's check drawn on a U.S. bank unless other arrangements are made with Highway 51 Auction.
Highway 51 Auction reserves the right to hold merchandise purchased by personal check until the check has cleared the bank. The purchaser agrees to pay Highway 51 Auction a handling charge of $50 for any check dishonored by the drawee.
Tax Exempt Notice
For some lots, we may not be obligated to collect Oklahoma state or local sales tax on the total purchase price. Please see the printed catalog or listing for notification on what lots are affected.
Collecting purchases
Once Highway 51 Auction has received all funds due to us, the buyer shall collect purchased lots within 2 business days from the date of the sale.
Packing and Shipping......
Highway 51 Auction Company does not ship but we do have an arrangement with a trusted local postal store. Any shipping related questions shall be handled by our preferred shipper. They will possess an auction catalog for reference. Purchases will be transported from our auction facility to the shippers facility and they will ship them to the buyer. Buyers are responsible to contact the shipper directly and make all shipping arrangements (shipping charges will be paid directly to shipper).
Shipper Info: Postal Pack and Ship Plus 601 South Washington Street Stillwater, OK 74074 (405) 743-4800
We will not be responsible for the acts or omissions of carriers or packers whether or not recommended by us. Property will not be released to the shipper without the buyer's consent and payment has been made in full to Highway 51 Auction. Transporting and handling of purchased lots by us is at the entire risk of the purchaser, and Highway 51 Auction will have no liability of any loss or damage to such items.
Non Payment
If we do not receive payment in full, in good cleared funds within 2 business days following the sale, we are entitled in our absolute discretion to exercise one or more of the following measures. In addition to any additional actions available to us by law:
- To impose a late charge of 15% per thirty (30) days of the total purchase price
- To hold the defaulting party liable for the total amount due and to begin legal proceedings for its recovery together with interest, legal fees and costs to the fullest extent permitted under applicable law
- To cancel the sale
- To resell the property publicly or privately on such terms as we find appropriate, resell the property at public auction without reserve, and the purchaser will be liable for any deficiency, cost, including handling charges, the expenses of both sales, our commission on both sales at our regular rate, and all other charges due hereunder and incidental damages. In addition, a defaulting purchaser will be deemed to have granted us a security interest in, and we may retain as collateral security for such purchaser's obligations to us, any property in our possession owned by such purchaser. At our option, payment will not be deemed to have been made in full until we have collected funds represented by checks, or in the case of bank or cashier's check, we have confirmed their authenticity.
- To offset against any amount owed
- To not allow any bids at any upcoming auction by or on behalf of the buyer
- To take other action as we find necessary or appropriate
Failure to collect purchases
If property is not picked up within 5 business days following the sale, whether or not payment has been made, Highway 51 Auction reserves the right to charge $5 per lot per day or to deliver said property to a warehouse for storage at the purchaser's expense. Should the property be delivered to a warehouse, you are responsible for an $85 per lot uplift fee. Highway 51 Auction shall have no liability for any damage to property left on its premises for more than 5 business days following the sale. For property that is not picked up after 30 days, an additional administration fee of $75 will be charged. Property which is paid for but left on our premises for any reason in excess of sixty (45) business days is subject to sale by us with the balance of any funds recovered in excess of storage charges and any other fees being remitted to you.
Liability Condition Reports
Highway 51 Auction is not responsible for the correctness of any statement of any kind concerning any lot, whether written or oral, nor for any other errors or omissions in description or for any faults or defects in any lot. Neither the seller, ourselves, our officers, employees or agents, give any representation, warranty or guarantee or assume any liability of any kind in respect of any lot with regard to merchantability, fitness for a particular purpose, description, size, quality, condition, attribution, authenticity, rarity, importance, medium, provenance, exhibition history, literature or historical relevance. Except as required by local law, any warranty of any kind whatsoever is excluded by this paragraph. Please note that ivory cannot be shipped out of the United States. WE ARE NOT RESPONSIBLE FOR VARIATIONS IN COLOR DUE TO PHOTO REPRODUCTION.
Purchased lots
If for any reason a purchased lot cannot be delivered in the same condition as at the time of sale, or should any purchased lot be stolen, mis-delivered, or lost prior to delivery, Highway 51 Auction shall not be liable for any amount in excess of that paid by the purchaser.
Legal Ramifications
The rights and obligations of the parties with respect to these Conditions of Sale, the conduct of the auction and any matters connected with any of the foregoing shall be governed and interpreted by the laws of the jurisdiction in Payne County Oklahoma.
If any part of these Conditions of Sale is found by any court to be invalid, illegal, or unenforceable, that part shall be discounted and the rest of the conditions shall continue to be valid to the fullest extent permitted by law.
Discretion
Any and all of the conditions may be waived or modified in the sole discretion of Highway 51 Auction.
