ONLINE BIDDING TERMS AND CONDITIONS

(updated August 10, 2012)
The Auction Company, a California Corporation (“TAC”) provides to bidders at theauctioncompany.net the opportunity to bid live and in real time or leave an absentee bid at theauctioncompany.net Online Bidding Section. TAC reserves the right, at it’s sole discretion, to add, delete or change some or all of the Online Bidding requirements at any time without notice.

The following are the Online Bidding Terms and Conditions that govern the use of Online Bidding and must be accepted, without modification, before you may access Online Bidding services. The Online Bidding Terms and Conditions, together with any additional terms and conditions specific to a particular auction as listed in the Terms and Conditions on TAC’s website or the Auction Brochure for that particular auction, constitute the entire agreement between you and TAC regarding the use of Online Bidding services with respect to that auction.
As used in these Online Bidding Terms and Conditions, “you” are an individual acting on your own behalf, or an agent of a person or entity that has authorized you to act on their behalf; “we” and “us” mean TAC. TAC reserves the right, in our sole discretion, to allow or deny access to Online Bidding services to any person. Upon acceptance of your application for access to Online Bidding services, you will receive a bidder number that will be valid for a particular auction (you will receive a new bidder number for each auction) that will identify you whenever you place bids using Online Bidding services (your “Online Bidding Internet Bidding Number”). You are responsible for all activities that occur using your Online Bidding Internet Bidding Number.
In addition to applying for access to Online Bidding services, you will be required to register separately for each TAC auction in which you wish to place bids via Online Bidding. Successful registration for one auction does not guarantee registration for any other auction. TAC reserves the right to refuse to register any person for any auction. A $1,000 refundable deposit is required ($5,000 for international buyers) to register to bid online.
All bids must be submitted in US dollars. A bid that was unsuccessful may be reinstated if a problem arises with a higher bid. Bidders placing winning Online Bids will be notified by email. You may not make a bid under a false name or as agent for a person who would himself be prohibited by these Online Bidding Terms and Conditions from placing a bid on a particular lot. TAC reserves the right to reject any bid which we deem to not have been made in good faith, or which is restricted or prohibited by law. The winning bidder for a particular lot (the “Buyer”) shall have purchased that lot at the accepted bid amount.  A TWENTY FIVE PERCENT (25%) DEPOSIT MAY BE REQUIRED AT OR AFTER AWARD OF BID. BY AGREEING TO THESE TERMS OF SALE, BUYER IS AUTHORIZING AUCTIONEER TO CHARGE BUYER’S SUPPLIED CREDIT CARD FOR UP TO TWENTY-FIVE PERCENT (25%) OF BUYERS PURCHASED ITEMS IF AUCTIONEER DEEMS NECESSARY. 

COST: A five and a half percent (5.5%) administration fee will be added to all lots sold above $2,500. A thirteen percent (13%) administrative fee will be charged to all lots sold for 2,500 or less. If an item is marked with two asterisks (**) a thirteen percent (13%) administration fee will be charged.  If an item is marked with three asterisks (***) an eighteen percent (18%) buyers premium will be charged. A DMV lot will be charged a $65.00 document fee and a $58.20 smog fee when applicable. All items sold in ring 2 (party rentals) will be charged a 10% buyers premium regardless of the selling price.

PAYMENT: All purchases must be paid for with cashier’s check, bank wire transfer, certified check or bank guaranteed personal or company check. Cash will be accepted from each individual bidder in the amount of $2,500 or less, on auction day and the next business day after the auction only, no exceptions. All personal or company checks must be accompanied by a bank letter of guarantee which specifically “guarantees payment”. Master Card and Visa will be accepted for deposit only, up to the amount approved. Payment must be made by Wednesday after the auction. Finance charges for overdue accounts will be charged to you at one and one half percent (1 1/2%) per month of the amount owing.

USING ONLINE BIDDING DURING AN AUCTION: Bids for a particular item may be made on a live basis when using Online Bidding services or you can leave an absentee bid online and TAC will bid for you. BIDS PLACED VIA ONLINE BIDDING SERVICES ARE FIRM COMMITMENTS TO PURCHASE AND MAY NOT BE CANCELED OR RETRACTED FOR ANY REASON. TAC CANNOT AND DOES NOT GUARANTEE THAT BIDS PLACED VIA ONLINE BIDDING SERVICES WILL BE TRANSMITTED TO OR RECEIVED BY THE AUCTIONEER IN A TIMELY FASHION. FURTHER, THE AUCTIONEER HAS THE SOLE DISCRETION TO ACCEPT OR REFUSE ANY BID.

NO PROFESSIONAL ADVICE: Any information supplied by any employee or agent of TAC, in any form whatsoever, is intended solely as general guidance on the use of Online Bidding services and the buying and selling of lots at TAC auctions. TAC PROVIDES NO GUARANTEES OR WARRANTIES, EXPRESSED OR IMPLIED, OF ANY KIND WHATSOEVER, INCLUDING MERCHANTABILITY, IN RESPECT OF THE LOTS OFFERED AT ANY TAC AUCTION. EACH AND EVERY LOT AT EVERY TAC AUCTION IS SOLD “AS IS, WHERE IS (WHERE IS MAY NOT APPLY TO OUT OF STATE BUYERS). ALL SALES ARE FINAL. BIDDERS ARE STRONGLY ENCOURAGED TO INSPECT THE LOTS BEFORE PLACING BIDS.

REMOVAL: Items must be removed by the Friday after the auction. You are responsible for transporting purchased lots from the auction site to your desired location. At no time will any purchased lot be released to you until payment in full for all lots purchased by you has been received by TAC. You agree to compensate TAC for any storage, hauling charges or damages suffered by TAC because of your failure to remove any purchased lots within the removal period specified by TAC for the auction.  Bidder acknowledges that the auction site is a dangerous place.  No children under the age of 18 are allowed at the auction site without being accompanied by a parent or guardian.  Each person at the auction site at any time shall be there at his/her own risk with notice of the condition of the premises and the activities thereon, and Bidder shall so advise his agents and employees.  No person shall have any claims against Auctioneer, their agents, employees, or principals for any injuries sustained, nor for damages to or loss of property that may occur from any cause whatsoever.  Loading and unloading of your items is offered as a courtesy only if time allows and buyer takes full responsibility for any loss or damages.

GENERAL ELIGIBILITY FOR ACCESS TO AND USE OF ONLINE BIDDING SERVICES: By accepting these Online Bidding Terms and Conditions, you warrant that: (a) you are at least 18 years of age and possess the legal capacity to participate in TAC auctions; (b) you will be financially responsible for your use of the Online Bidding services; and (c) you will be responsible for any usage by minors or any other party of Online Bidding services under your name or account.


OTHER TERMS: Each TAC auction is also subject to terms Stated in the Bidder Terms of Sale for that particular auction. It is important that you familiarize yourself with the terms of the relevant auction. Where the Terms of Sale for the relevant auction conflict with the Online Bidding Terms and Conditions, the relevant auction Terms of Sale shall prevail unless specifically stated otherwise.

RESTRICTIONS GOVERNING THE USE OF ONLINE BIDDING SERVICES:
As a condition of your use of Online Bidding services, you warrant you will not:
-Use Online Bidding services for any purpose that is unlawful or prohibited by this Agreement;
-Use Online Bidding services in any manner that could damage, disable, overburden, or impair theauctioncompany.net web site;
-Use any device, software or routine to interfere or attempt to interfere with the proper working of Online Bidding services or theauctioncompany.net web site or any TAC auction;
-Take any action that imposes an unreasonable or disproportionately large load on our infrastructure;
interfere with or disrupt any computer networks involved in the provision of Online Bidding services;
-Transmit any viruses or other code, files, or programs that may damage, disrupt, or interfere with Online Bidding services or any other aspect of theauctioncompany.net web site;
-Interfere with any other party’s use of Online Bidding services or theauctioncompany.net web site;
-Impersonate any other person or entity, or disguise the origin of any Bidder Information;
-Use Online Bidding services to upload, post or distribute any advertising or solicitations;
-or Use Online Bidding services in such a way as to gain unauthorized access to the computer systems of others.

You acknowledge and agree that Online Bidding services, the auctioncompany.net web site, and any software and information used in connection therewith contain proprietary and confidential information that is protected by applicable intellectual property and other laws. You further acknowledge and agree that any content contained on theauctioncompany.net web site is protected by copyrights, trademarks, service marks, patents or other proprietary rights and laws. Except as expressly authorized by TAC, you agree not to modify, sell, distribute or create derivative works based on the auctioncompany.net web site or the content therein, in whole or in part.

BIDDER INFORMATION: Bidder Information includes any information you provide to TAC when you apply for access to Online Bidding services, register to participate in a particular TAC auction, bid in any TAC auction or communicate with TAC via phone, fax or email as part of your use of Online Bidding services. You are solely responsible for the accuracy, completeness and truthfulness of your Bidder Information and you hereby represent and warrant that your Bidder Information: (a) is true and accurate; (b) is not fraudulent; (c) does not infringe on any third party’s copyright, patent, trademark, trade secret or other proprietary rights or rights of publicity or privacy; (d) does not violate any applicable law, statute, ordinance or regulation; (e) is not defamatory, vulgar, threatening, obscene or trade libelous; and (f) does not contain any viruses or other code, files, or programs that may damage, disrupt, interfere with, surreptitiously intercept or expropriate any system, data or personal information. You agree to indemnify and hold TAC harmless from and against any loss, cost, expense or damage arising out of a breach of any of the foregoing representations and warranties. TAC reserves the right to take any action with respect to Bidder Information if TAC reasonably believes such information to breach any of the foregoing representations or warranties or to be restricted or prohibited by law. By submitting Bidder Information to TAC and accepting these Online Bidding terms and conditions, you agree that TAC may collect, use and/or disclose such personal information for the following purposes: (a) to establish and maintain commercial relations with you and to provide ongoing products and services, administer your account, make and receive payments and fulfill contractual obligations between us; (b) to provide customer service assistance and communicate with you; (c) to develop, enhance, provide and inform you of TAC’s services, and conduct market research and statistical analysis; (d) to detect, investigate and protect TAC and its affiliates against error, fraud, theft, and other illegal activity, negligence and breaches of contract; (e) as permitted by, and to comply with, any legal or regulatory requirements; and (f) for any other purpose to which you consent.

OWNERSHIP: Upon your becoming the Buyer of a lot, that lot shall immediately become your responsibility and be at your risk. TAC shall not be responsible for loss or damage to any lot once it has been purchased.


AUCTION DATA: You may not record, store, duplicate, reproduce, re-broadcast or otherwise exploit any data or audio/video content transmitted to you as part of Online Bidding services during a live auction (collectively, “Auction Data”). TAC owns all right, title and interest in and to all Auction Data, including all intellectual property rights therein and thereto.

DISCLAIMERS: You acknowledge and agree that the internet is an unreliable, unsecured, and error-prone network and TAC cannot and does not guarantee continuous, uninterrupted or secure access to Online Bidding services or theauctioncompany.net web site or that Bidder Information, including that auction registrations and bids will be transmitted or received in a timely fashion. You agree to hold TAC harmless for any interruptions in Online Bidding services or theauctioncompany.net web site, or your inability to reach or effectively use Online Bidding services or theauctioncompany.net web site. IN NO EVENT SHALL TAC BE LIABLE FOR CONSEQUENTIAL OR INCIDENTAL DAMAGES OF ANY KIND INCLUDING, BUT NOT LIMITED TO, ANY LOST PROFITS (HOWEVER ARISING, INCLUDING NEGLIGENCE) ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR THE USE OF ONLINE BIDDING SERVICES.

GOVERNING LAW: The Online Bidding Terms and Conditions shall be governed by and interpreted under the laws of, and any action hereunder against TAC shall be commenced in the State of California.
NO WAIVER: The failure of TAC to enforce any terms of this Agreement in whole or in part or to respond to a breach by you or other parties shall not in any way waive our right to enforce subsequently any term or condition of this Agreement or to act with respect to similar breaches.

GENERAL: If any part of this Agreement is determined to be invalid or unenforceable pursuant to applicable law then such provision shall be enforced to the maximum extent possible and the remainder of the Agreement shall continue in full force and effect. Headings are for reference purposes only and in no way define, limit, construe or describe the scope or extent of such section. Unless otherwise specified herein, this Agreement constitutes the entire agreement between you and TAC with respect to Online Bidding Services, and it supersedes all prior or contemporaneous communications and proposals, whether electronic, oral or written, between you and TAC with respect to Online Bidding services. web site or that Bidder Information, including auction registrations and bids, will be transmitted or received in a timely fashion. You agree to hold TAC harmless for any interruptions in Online Bidding services or the theauctioncompany.net web site, or your inability to reach or effectively use Online Bidding services or theauctioncompany.net web site. IN NO EVENT SHALL TAC BE LIABLE FOR CONSEQUENTIAL OR INCIDENTAL DAMAGES OF ANY KIND INCLUDING, BUT NOT LIMITED TO, ANY LOST PROFITS (HOWEVER ARISING, INCLUDING NEGLIGENCE) ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR THE USE OF ONLINE BIDDING SERVICES.ONLINE BIDDING SERVICES AND THE theauctioncompany.net WEB SITE, INCLUDING ALL CONTENT, FUNCTIONS, MATERIALS, SERVICES AND INFORMATION MADE AVAILABLE ON OR ACCESSED THROUGH ONLINE BIDDING SERVICES OR THE theauctioncompany.net WEB SITE, ARE PROVIDED ON AN “AS IS, WHERE IS, AS AVAILABLE” BASIS WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND WHATSOEVER, EXPRESSED OR IMPLIED, INCLUDING WITHOUT LIMITATION, NON-INFRINGEMENT OR FITNESS FOR A PARTICULAR PURPOSE. TAC DOES NOT WARRANT THAT THE SERVICES OR THE FUNCTIONS, FEATURES OR CONTENT CONTAINED, MADE AVAILABLE ON OR ACCESSED THROUGH ONLINE BIDDING SERVICES OR THE theauctioncompany.net WEB SITE, INCLUDING WITHOUT LIMITATION ANY THIRD-PARTY SOFTWARE, PRODUCTS OR OTHER MATERIALS USED IN CONNECTION WITH ONLINE BIDDING SERVICES OR THE theauctioncompany.net WEB SITE, WILL BE TIMELY, SECURE, UNINTERRUPTED OR ERROR FREE, OR THAT DEFECTS WILL BE CORRECTED. TAC MAKES NO WARRANTY THAT ONLINE BIDDING SERVICES OR theauctioncompany.net WEB SITE WILL MEET YOUR REQUIREMENTS. IF YOU ARE DISSATISFIED WITH ONLINE BIDDING SERVICES OR theauctioncompany.net WEB SITE, YOUR SOLE REMEDY IS TO DISCONTINUE USING ONLINE BIDDING SERVICES OR theauctioncompany.net WEB SITE. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM TAC OR THROUGH ONLINE BIDDING SERVICES OR theauctioncompany.net WEB SITE SHALL CREATE ANY WARRANTY NOT EXPRESSLY MADE IN THIS AGREEMENT. TAC reserves the right to suspend, postpone or cancel any auction or access to Online Bidding services, without notice, if TAC determines, in its sole discretion, such action is appropriate. TAC shall have no liability to you as a result of such suspension, postponement or cancellation.

LIMITATION OF LIABILITY: YOU UNDERSTAND AND AGREE THAT NEITHER TAC NOR ANY OF ITS DIRECTORS, OFFICERS, EMPLOYEES, AGENTS OR SHAREHOLDERS SHALL BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL, CONSEQUENTIAL OR INCIDENTAL DAMAGES, OF ANY NATURE ARISING OUT OF (a) THE FAILURE OF ANY BIDDER INFORMATION OR OTHER DATA TO BE TRANSMITTED OR RECEIVED IN A TIMELY FASHION, (b) THE INTERRUPTION OF ANY DATA TRANSMISSION, OR AUDIO OR VIDEO BROADCAST, (c) THE DOWNLOADING OF ANY APPLICATIONS OR INFORMATION RELATED TO ONLINE BIDDING SERVICES, OR (d) THE USE OF OR INABILITY TO USE ONLINE BIDDING SERVICES OR theauctioncompany.net WEB SITE, TO THE FULL EXTENT THOSE DAMAGES CAN BE DISCLAIMED BY LAW. THIS LIMITATION OF LIABILITY IS EXPRESSLY INTENDED TO APPLY TO ALL TYPES OF DAMAGES, INCLUDING, BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, LOSS OF BUSINESS OPPORTUNITY, LOSS OF BUSINESS INFORMATION (INCLUDING LOSS OR REPLACEMENT OF ANY DATA, MEMORY OR OTHER INFORMATION WHICH IS ALTERED OR DAMAGED) OR BUSINESS INTERRUPTION (WHETHER RESULTING FROM FAILURES OR DELAYS IN DELIVERY OR PERFORMANCE).

INDEMNIFICATION: You agree to indemnify, defend and hold harmless TAC and its employees, agents, affiliates, successors, officers, directors and assigns, from and against any and all claims, demands, losses, damages, liabilities, costs and expenses (including attorney fees) arising out of or relating to any claim or action based upon your use of Online Bidding services or theauctioncompany.net web site or your breach of this Agreement.

AMENDMENT: TAC may amend the Online Bidding Terms and Conditions at any time by posting the amendments on our web site. The Online Bidding Terms and Conditions may not be otherwise amended except in writing signed by both TAC and the party requesting the amendment.

NO WAIVER: The failure of TAC to enforce any terms of this Agreement in whole or in part or to respond to a breach by you or other parties shall not in any way waive our right to enforce subsequently any term or condition of this Agreement or to act with respect to similar breaches.