ON-LINE BIDDING TERMS & CONDITIONS

ON-LINE ONLY AUCTION

ANTIQUE FURNITURE AND COLLECTIBLES

1. The property listed and described on the attached list will be offered under the following terms and conditions of sale, which terms and conditions of sale and descriptions of items listed on the attachment, may be amended, updated or altered at the time and place of the auction from the auction block. These terms and conditions of sale and any announcements from the auction block shall be binding on any bidder, weather present or represented by an agent. Any absentee bidder or on-line bidder, buyers are bound by these terms and conditions of sale.

2.Terms of sale: all property is sold “as is” and “where is” and neither alexander auctions & real estate sales, the auctioneer, nor the seller makes any expressed or implied warranty or representation of any kind or nature with respect to the property being sold. In no event shall Alexander Auctions & Real Estate Sales, the auctioneer, nor the seller be responsible for the correctness of or be deemed to have made any representation or warranty of merchantability, fitness for a particular purpose, description, size, genuineness, year of manufacture, attribution, provenance or condition concerning the property or any warranty that any item complies with any applicable federal or state laws. No statement set forth in the attached list or made at the auction or in the bill of sale or invoice or elsewhere, whether oral or written, shall be deemed such a warranty or representation or any assumption of liability. Alexander Auctions & Real Estate Sales, the auctioneer, makes no representation or warranty as to the accuracy of the descriptions or representations which were provided by the seller and listed on the attached or as to the condition of the item.

3.Bidding shall be from April 25^th, 2015 to Thursday, May 15^th, 2015 at 7:00 p.m.

4.There is a 5 minutes extended bidding if bids have been place on a lot within the last 5 minutes of the auction. Bidding on that lot will extend for another 5 minutes.

5.Shipping on small items is available with minimum purchase of $10.00. Purchases paid for in cash may be picked up at 113 Neal Street, Martin, TN 38237 on Friday, May 15^th at 10:00 a.m. to 4:00 p.m. and Saturday, May 16^th, 2015 from 10:00 a.m. to 4:00 p.m. Items located off site must be arranged with the owner. Alexander Auctions will coordinate the buyer with the seller. Larger items will be charged according to time and cost. Major items must be arranged with owner/seller. These items must be removed on or before May 30^th by 12:00 noon unless prior arrangements are made with the seller through Alexander Auctions.

6. To be an approved on-line bidder at this auction you must have a valid Visa or Mastercard credit card on file.

7. Pre-register on-line at www.alexanderauctions.com. When you register you are agreeing to these terms.

8. Any person who registers agrees to be subject to the personal jurisdiction of the State of Tennessee.

9. Bidders agree to be bound by the laws of the State of Tennessee and subject to the courts of Tennessee jurisdiction.

10. Bidders agree that Alexander Auctions & Real Estate Sales has the right to elect the venue (usually a court in specific county) in which all disputes concerning the bidder registration agreement shall be brought.

11. Bidding: execute your bids at www.alexanderauctions.com. All bids must be raised in increments. Bids cannot be retracted. When you place a bid, the bidder is legally obligated to purchase the item if their bid is the successful high amount. Bidders may place a “max bid” on any item. Meaning your bid will be automatically raised to the next increment when needed.

12.Bid increments: up to $50.00 - $1.00

$51.00 up to $100.00 - $2.50 $101.00 up to $200.00 - $ 5.00 $201.00 up to $600.00 - $10.00 $601.00 and up - $25.00

13.Buyer’s Premium

A. 10% Buyer’s Premium added to final bid of each item to reach the total sales price for all items paid for by cash, cashier’s check, certified funds or wire transfer.

B.13% Buyer’s Premium added to the final bid of each item paid for by Visa or Master card only.

14.Alexander Auctions retains the right to withdraw or regroup items in the auction.

15.Alexander Auctions is not responsible and is not liable for any bids which do not get submitted.

16.All items in used condition and being sold “as is” “where is” and without recourse and with no warranty, guaranty as to operating condition, physical condition for a particular purpose or fitness for use. You should make an inspection of these items beforehand and be satisfied with their condition. Articles are not warranted as merchantable or fit for any particular purpose or particular use, and no claim may be made by purchaser relating to the condition or use of articles purchased or for proximate or consequential damages arising there from.

17.Items sold in box lots are not guaranteed to be perfect. Make all bid knowing that items may be chipped, damaged and not in working order.

18.Bidders who bid off-site or preview understand and acknowledge that they may not be able to inspect an item as well as if they examined it in person. It is the bidder’s responsibility to determine condition, age, genuineness, value or any other determinative factor and place their bid accordingly.

19.The purchaser does hereby acknowledge that the subject property is purchased at public auction and that a prerequisite to bidding is that all property, whether real or personal, is purchased absolutely “as is” with no warranty whatsoever as to the condition of the same.

20.Compliance with the terms of sale – in default of payment of bills in full within the time announced for this auction the auctioneer in addition to all other remedies allowed by law, may retain all monies received as deposit or otherwise, as liquidated damages. Lots not paid for with the time specified herein may be resold at public or private sale without further notice. Any resulting deficiency together with all expenses and costs of re-sale will be the responsibility of the defaulting purchaser. Each buyer in making a bid does herewith agree to comply with the terms and conditions as herein stated and as otherwise set forth. The failure or default by a successful buyer to fully comply with the terms and conditions herein will be treated as an immediate breach and the deposit as made retained and applied toward any deficit in additional costs or charges as incurred to effect the resale of that property at private or public sale. There shall be no further notice required to the buyer once a default had occurred. The obligation of the buyer shall be for costs as incurred, plus any deficit included arising from the buyer.

21.Payment: All purchases must be paid on sale day. Your credit card will be charge immediately following the auction unless Alexander Auctions has approved you to send a check, including cashier’s check or wire transfer. All buyers agree to pay for their purchases no later than the day of the auction. All payments are to be made in U. S. currency by cash, cashier’s bank check, certified bank check, or personal check with irrevocable bank letter or guarantee to Alexander Auctions & Real Estate Sales required of all purchasers not personally known by the auction company. Purchasers who wish to pay by personal check must be cleared by Alexander Auctions & Real Estate Sales in advance.

22.Safety devices: Articles purchased may not incorporate approved activating mechanisms, operating safety devices or safety guards, as required by OSHA or otherwise. It is purchaser’s responsibility that articles purchased be so equipped and safeguarded to meet OSHA and any other requirements before placing such articles into operation.

23.Indemnification: Purchaser shall defend and indemnify and hold auctioneer and seller harmless from and against all claims and liabilities relating to the condition of, removal of, or use of the articles purchased or failure of user to follow instructions, warnings or recommendations of the manufacturer, or to comply with federal, state, and local laws applicable to such articles, including OSHA requirements, and environmental protection agency requirements, or for proximate or consequential damages, costs or legal expenses arising there from.

24.Confirmation of purchase: title to personal property shall pass to the buyer upon the ending time of the auction, subject to the compliance by the buyer of the conditions of sale. Buyer assumes all responsibility for the item or items after purchase and shall pay the total purchase price. All sales are final. Alexander Auctions & Real Estate Sales and the seller do not and will not be responsible for or furnish any security for sold items.

25.Sales tax will not be collected in this auction.

26.Addition to or withdrawal from sale: The auctioneer reserves the right to withdraw from sale any of the items; to sell at this auction items not listed; to group one or more lost into one or more selling lots or to subdivide into two or more selling lots. The auctioneer also reserves the right to sell all of the items listed in bulk.

27.Independent Contractor: the auctioneer is acting as an independent contractor only and is not responsible for the acts of its principals or sellers.

28.Personal and Property Risk: persons attending during exhibition, sale or removal of goods assume all risks of damage of or loss to person and property and specifically release and indemnify alexander auctions & real estate sales, the auctioneer from liability therefore. Neither Alexander Auctions & Real Estate Sales, the auctioneer nor his principal or seller shall be liable by reason of any defect in or condition of the premises in which the sale is held.

29.Records: the record of sale kept by Alexander Auctions & Real Estate Sales, the auctioneer and bookkeeper will be taken as final in the event of any dispute.

30.Nominal bids: any bid which is merely a nominal or fractional advance may be rejected by the auctioneer, if in his judgement it may affect the sale negatively.

31.Alexander Auctions is providing internet pre-auction on-line bidding as a service to bidder. Bidder acknowledges and understands that this service may or may not function correctly. Under no circumstances shall bidder have any kind of claim against Alexander Auctions & Real Estate Sales or anyone else if the internet service fails to work correctly during the bidding time period.

32.Alexander Auctions & Real Estate Sales will not be responsible for any missed bids from any source.

33.All bidders acknowledge and accept by signature these terms and conditions provided at time of registration by registering for a bid number.

AUCTION ~ REMOVAL TERMS

Removal:

1. Gas pump, juke boxes, drink boxes must be picked up by purchaser at residence of the seller in Union City, TN. Any shipping must be arranged through the seller. Seller will arrange for shipping of small items.

2.Signs and smaller items can be picked up at 113 Neal Street, Martin, TN 38237.

3.Shipping is available for the signs and smaller items. Minimum packing fee is $10.00. Signs and items requiring case for damage or breaking will be charged on a time and cost basis.

4.No item will be shipped until full payment is received. No refunds will be made.

5.Removal of items: items can be removed on May 15^th, 2015 from 10:00 a.m. to 4:00 p.m. and Saturday May 16^th, 2015 from 10:00 a.m. to 4:00 p.m.

6.Buyers shall be responsible for labor to load, removal, transportation and handling of purchases that are picked up on-site.

7.Buyer shall be responsible for insurance on their items as soon as they become the buyer.

8.Buyer is responsible for insurance on items that are shipped.

9.The buyer hereby assumes and does agree to indemnify and hold harmless the auctioneer and sellers from any current or future claim which shall pertain to the fitness, use, damage, safety, injuries to persons or property that may have occurred during the auction or that may have been caused by or during removal or use of items purchased, or any other claim regarding the use of that asset as purchased. Neither the auctioneer, auction company, nor the seller assumes responsibility for any accidents or loss due to theft, fire, vandalism, or personal injury.

10.The purchaser shall remain responsible for expense of removal and damages if they employ someone to remove equipment or items.

11.The purchaser shall remain and be held responsible for removal and damages in the event they sell their purchases to another party.

12.All loading and removal expense to be negotiated between the purchaser and their movers/riggers.

13.Purchaser(s) shall exercise caution in removing the items and equipment from the property. Any damage done to the buildings or property by the purchaser(s) due to negligence and improper removal shall be repaired and paid for by the purchaser(s).

14.Purchaser(s) shall be responsible and liable for all of their actions and their employee’s actions for dismantling and removing all personal property from the property.

15.Purchaser(s) shall be responsible for their own liability insurance and casualty insurance for themselves and their employees and agree to hold harmless Alexander Auctions & Real Estate Sales, the owner, and the seller.

16.The auction company will not responsible for items that are not removed within the time period allowed. Any item not removed on time will be deemed abandoned. Purchaser accepts full responsibility for all cost incurred by auction company for removal, storage, and/or disposal of abandoned merchandise.

17.Removal of property or storage: None of the property may be removed from the premises until the total purchase price has been paid. Any items left and not removed from the premises remain at the sole risk of the buyer. Removal shall be at the expense, liability and risk of the purchaser. Purchases can be removed only on presentation of original bill of sale. Copies of bills of sale will not be accepted for removal. Copies of bills of sale will not be accepted for removal. Upon failure of purchaser to remove goods within time specified as posted or announce, auctioneer shall have the option of removing and storing the goods at the expense and risk of the purchaser or deeming money deposit forfeited in which case auctioneer may resell without notice at public sale or otherwise dispose of goods at risk and expense of purchaser. Purchaser shall remain liable for loss, expense and damages arising from the purchaser’s default.

18.Purchaser shall be responsible for the loading and moving of their items. Alexander Auctions & Real Estate Sales does not furnish help to load or move items.

Explanation of ways to bid:

Maximum Bid: The maximum amount you are willing to pay for a lot. The price will only increase by the minimum increment, but will automatically rises to your maximum bid as others bid up the lot over time.

“Jumping the Bid” is a bidding strategy by which a bidder increases the bid by more than the next accepted bid (placing your bid at $150 when the accepted bid is $125). This practice is used by some bidders to discourage others from bidding in hopes of acquiring an item at a lower price. This prevents someone else form bidding your max bid first.

There are many theories on the effectiveness of this practice and a bidder who wishes to apply it does so at their own discretion. The auction company will not lower the price of an item that has been won by a “jumped” bid with no other competing bids.

Extended/Dynamic Bidding: auctions may extend the bidding time on any lot that gets a bid within a certain amount of time of its scheduled closing time. The auction will remain open for those lots until no bids are placed in the allotted amount of time. All lots not receiving a bid in the final minutes will close at the normal time. The auctioneer will determine the number of minutes necessary to activate dynamic bidding ahead of time.

C:\Users\Lu\Documents\ON-LINE TERMS.docx

On-Line Only Auction - Antique Furniture, Clocks & Glassware