This auction agreement is entered into by Alliance Auction & Realty hereinafter referred to as “Auctioneers,” and the aforementioned hereinafter referred to as “Owner.” Auctioneers agree to conduct a public auction sale or otherwise sell the property submitted by and belonging to the Owner. The auction sale to be conducted at AllianceAuctioneers.com or subsequent bidding platform portal ending on the third Thursday of the month electronically selected by the owner at time of item submission.
Owner submits the property for auction based on the following agreement with auctioneers:
- Auctioneers agree to advertise sale and promote participation of buyers. Advertising and promotion schedule and budget will be at the sole discretion and expense of Auctioneers.
- Owner acknowledges they are consigning property to a NO RESERVE auction.
- Auctioneers will charge a five percent (5%) Buyer’s Premium and retain such as their compensation. Owner agrees to pay all expenses of starting, handling, displaying and making their property ready for sale. Owner agrees that each item of the above property will be delivered to advertised location site within 48 hours of form and item submission.
- Owner grants Auctioneers the exclusive right to sell said property and agrees to pay Auctioneers for services rendered by Auctioneers an amount equal to five percent (5%) of the highest bid received in the event the Owner or their agent is the highest bid placed.
- Owner represents that no vehicle covered by this agreement has been “remanufactured” or “updated” to a subsequent model year by use of a kit or otherwise, unless specified herein, and Owner agrees to indemnify and hold Auctioneers harmless from all liabilities, loss and expense arising out of any claim for loss or damage to said property, personal injury or property damage related to the sale of said property, breach of warranty, misrepresentation, or defect in title. If documents showing title to motor vehicles, free and clear of all liens and encumbrances, are not delivered to Auctioneers at least seven (7) days prior to sale, Auctioneers shall have no responsibility for collection of drafts or checks in payment thereof, and Owner’s responsibility for payment of expenses and commission shall not be diminished by reason of such failure to collect.
- Owner hereby agrees to sell the above property to the highest bidder without reserve, buybacks or persons bidding on behalf of the owner. Should the Owner breach this paragraph they agree to remit an amount equal to 5% of the highest bid received on the bidding platform, regardless of what party tendered the highest bid, and an additional $100 per item that breaches this paragraph to reimburse Auctioneers for marketing expenses. Owner agrees that may not cancel, postpone or stop the auction of any submitted item without written permission of the Auctioneers.
- Owner agrees to deliver title to said property to the auctioneers by appropriate documents free and clear of all encumbrances and transfer such title to the highest successful bidder who remits full payment. Should Owner fail to do so the Owner agrees to remit to Auctioneers an amount equal to 10% of the highest received bid which will in turn be divided equally between the Auctioneers and the highest bidder in lieu of Owners default.
- Owner agrees not sell or cause to be sold any of the property submitted to any person, firm or corporation save and except through the Auctioneers and agrees that he may be restrained from doing so.
- Owner agrees s to pay Alliance Auction & Realty in Stephenville, Erath County, Texas, a commission in cash equal to the percentage of the gross selling price as stated in paragraph 3 above.
- Owner appoints Auctioneers his attorneys in Owner’s name and in his behalf, and as fully and to the same extent as Owner could do personally, to do all things and to execute all instruments of every
- Owner agrees to furnish promptly copies of all documents reflecting existing liens or security interests in said property and authorizes Auctioneers to pay any such liens or security interests out of sales proceeds remaining after payment of Auctioneers’ expenses and commissions. If the proposed sale constitutes a “bulk transfer”, Owner agrees to timely furnish to Auctioneers all information required by law.
- All checks shall be made payable to Auctioneers, as Owner’s agent. Auctioneers shall have full authority to reclaim and resell any items not paid for. Auctioneers reserve the right to eliminate from settlement any property for which payment has not been made. In consideration for the waiver of Auctioneer’s commission on such property for which payment has not been made, Owner agrees to accept responsibility for reclaiming same wherever located.
- Auctioneers agree, unless delayed by legal proceedings or inability of Auctioneers, through no fault of its own, to transfer title or to comply with the Uniform Commercial Code or other laws, to make settlement with Owner on or before ten (10) banking days following date of auction sale.
- This agreement may be updated or changed without notice to the Owner. It may be viewed anytime by visiting your My Profile page when logged in to your account.
- The Auctioneers are licensed (#13507) in the State of Texas and are thus regulated by the Texas Department of Licensing and Regulation and are covered by a recovery fund administered by the Department. If you have an unresolved complaint notify TDLR, PO Box 12157, Austin, Texas 78711 (512) 463-5522