1. TERMS AND CONDITIONS OF SALE. The following terms of sale constitute the entire terms and conditions under which items listed in the Rock Island Auction Company (hereinafter referred to as "RIAC") catalog, Internet site and addendum sheets will be offered for sale or will be sold by RIAC. All bidders who participate in bidding on this auction accept the terms and conditions of sale and agree to be bound by them. All notices, published or oral, during the sale are also part of the terms and conditions of our sales contract. Acceptance of a bidder card or bidder number constitutes acceptance of the following terms and conditions of sale. Buyer's rights and RIAC's respective rights and obligations are governed by Illinois law. By bidding on the RIAC auction, in person or through an agent, bidding remotely, bidding by telephone, over the Internet or other means, the buyer or bidder agrees that the contract created by these terms and conditions of sale is made and executed in Rock County. Island, State of Illinois and further agree that, in the event of any dispute arising out of this agreement, the sole and exclusive jurisdiction for contractual disputes is Rock Island County, State of Illinois. AUCTION IS NOT RESPONSIBLE FOR ANY BUYER'S ERRORS, INCLUDING BUT NOT LIMITED TO BUYER'S BID ON THE WRONG LOT.
2. BUYER'S PREMIUM AND FEES. All "hammer prices" offer prices ("hammer prices" means the price at which a lot is knocked down to the buyer) will be subject to a 17.5% buyer's premium payable by the buyer. This is not an aggregate percentage of the item's total bid, but rather a percentage rate per item. All purchases made by credit card are subject to an additional 3.5% service charge.
If the buyer uses the RIAC live auction platform 'RIAC Live', there will be a fee calculated as an additional 1% of the auction price.
If the buyer uses the third-party provider, Proxibid, there will be a fee calculated as an additional 6% of the auction price.
The Buyer's Premium and the RIAC Live or Proxibid fee, if applicable, are added to the Buyer's Winning Bid to calculate the total purchase price. The RIAC has been authorized by the issuer to withhold as part of the RIAC's remuneration, the buyer's premium and the RIAC Live or Proxibid fee, as the case may be, paid by the buyer.
3. SALES TAX.
RIAC is a market facilitator (as defined in each state's applicable regulations) for the purpose of collecting and remitting sales tax for each applicable state. A market facilitator is a company that hires sellers to facilitate the sale of tangible goods and manages all aspects of the transaction. A marketplace facilitator is required to collect sales tax from the buyer and remit it to the state to which the items are being shipped. Sales tax is based on shipping address. If the item is picked up at a RIAC facility or shipped to an Illinois address, 8.5% Illinois sales tax will be charged. Generally, all items included in the invoice are subject to tax.
To establish a tax-exempt sale, a copy of a valid dealer's license or other instrument or information establishing a sales tax exemption must be provided, as required by the applicable state, to the satisfaction of RIAC. See our website, rockislandauction.com, for additional information on reseller certificates. Any buyer who claims an exemption from sales tax but is unable to provide satisfactory proof to RIAC at the time of payment must pay the applicable tax to RIAC and subsequently request a refund from the appropriate state. Buyer agrees to pay RIAC the actual amount of tax due if the incorrect amount of sales tax is collected at the time of purchase for any reason.
Sales tax must be collected and remitted in all states except the following:
States without sales tax:Alaska (some cities, counties, and districts require RIAC to collect sales tax), Delaware, Montana, New Hampshire, and Oregon.
West Virginia does not charge sales tax on the purchase ofFirearms.
The District of Columbia (DC) RIAC does not meet the thresholds for requiring the collection of sales tax.
4. METHOD OF PAYMENT. Auction sales are strictly cash, cashier's check, personal check (with prior approval of RIAC management), MasterCard, Visa, AMEX or Discover. NOTE TO FOREIGN BUYERS: Payment method will be in US currency, certified check drawn on a US bank or wire transfer.
5. PAYMENT TERMS. Upon announcement of "SOLD", the highest bidder will have acquired the offered lot. All sales end with the drop of the Auctioneer's deck or the announcement of “SOLD”. The purchase is subject to all the terms and conditions set forth in this document. The buyer assumes all responsibility and, if requested, will sign a confirmation of purchase. Buyer also agrees to pay the Full Amount Due. Full amount due must be paid in full on the day of the sale if in person; otherwise, upon receipt of the buyer's invoice. All goods must be removed from the RIAC premises at the buyer's expense before 5:00 pm. five days after the date of sale, unless otherwise agreed. If the property is not picked up within five days of the sale date, it will be stored at the RIAC facility at a cost of $50 per month. The buyer will not be able to withdraw the acquired lots until he pays the storage rights to the RIAC. If the purchased lots are not picked up and storage fees are not paid to the RIAC, the items will be sold in accordance with the Illinois Labor Lien and Storage Act, 770 ILCS 45/0.01 et seq. and/or 770 ILCS 50/0.01 et seq.
Each buyer in this auction grants the RIAC a guarantee on the property acquired. Any Buyer's property and all money held or received by RIAC on Buyer's behalf will be held as security for Buyer's obligations to RIAC. The RIAC may assert against said obligations the money retained or received by the RIAC on behalf of or owed to the buyer. RIAC retains all rights of a warranted party under the Illinois Commercial Code. As long as the buyer pays only a part of the Total Amount due for one or more lots purchased, RIAC may apply said payments, at its sole discretion, to the lot or lots that RIAC chooses. Payment will not be considered in full until RIAC has collected the Full Amount Due in cash or good funds. The RIAC has the exclusive power to determine what is considered a good fund. If Buyer pays by check and the check bounces due to insufficient funds, interrupted payment, closed account, or for any other reason, and Buyer already has possession of the property, such possession of the property will be considered theft by intentional misconduct and/or or robbery. under 18 U.S.C. § 922(u), which may result in penalties of a fine of up to $250,000, imprisonment in federal prison for up to 10 years, or both. In addition to the remedies available to the RIAC and the shipper by law, if the buyer fails to comply with the terms and conditions of sale (this includes, but is not limited to, full payment of the full amount due), the RIAC, at its option, may : (1) cancel the sale and retain as damages all payments made by the buyer; or (2) resell the public or private property, in which case the buyer will be responsible for paying the deficiency, plus all costs and expenses of both sales and the RIAC commission for both sales at RIAC's standard rates, as well like any other damages, including, among others, lost profits. Buyer hereby waives any and all sales and warranty disclaimers required by the Illinois Commercial Code. Buyer is also responsible for all other charges payable hereunder, in addition to attorneys' fees incurred by RIAC, incidental damages, and any other damages incurred by RIAC.
6. INTEREST AND WIZARD. Payment of the Full Amount Due is due upon receipt of the buyer's invoice. If the amount stated on the buyer's invoice is not paid in full within 15 days of the auction, RIAC is entitled and will charge the buyer's credit card on file for the full invoice amount. Interest will be charged on all unpaid balances at a rate of 1-1/2% per month (18% APR) or the highest rate permitted by Illinois law, whichever is less, beginning 15 days after the purchase/auction date. Buyer acknowledges that in the event Buyer fails to comply with any of the terms and conditions of sale, including payment of the full amount indicated on Buyer's invoice, damages incurred by RIAC include, but are not limited to, consignor's commission , loss of use of money for an indefinite period, costs to relist the item and possible depreciation of the item and loss arising from resale of the lot, whether such damages are now known or may be known in the future. Therefore, if the buyer does not pay the full amount indicated on the buyer's invoice within 45 days after the auction, the buyer will immediately be liable for damages in an amount equal to 30% of the invoice value. of the buyer. These liquidated damages are added to the full amount billed on the buyer's invoice and any applicable interest. RIAC will retain any money deposited in partial payment on account of any liability of the item in arrears and will apply it at RIAC's sole discretion to the outstanding debt.
7. WITHDRAWAL. The RIAC reserves the right to withdraw any property from the auction prior to sale.
8. PROTESTS, DISPUTES AND THE AUCTIONEER. The RIAC reserves the right to reject a proposal from any bidder. The highest bidder, recognized by the Auctioneer, will be the buyer. Auctioneer will have the sole and final discretion as to the disposition of any dispute, including the re-bid and resale of any disputed item. RIAC's records will be deemed conclusive in all respects should any dispute arise after the sale.
9. FAILURE TO DELIVERY BUYER'S GOODS. If RIAC is prevented by fire, theft or for any other reason from delivering any property to the buyer, RIAC's liability shall be limited to the amount actually paid by the buyer and shall in no event include incidental or consequential damages.
10. WARRANTY. All properties offered for sale are as-is, where-is. ALL SALES ARE FINAL. THERE WILL BE NO RETURNS OR EXCHANGES. RIAC does not guarantee or endorse any lot sold. The bold title of the description is the only written statement that RIAC will ensure is correct. The descriptions in the catalog are opinions. They are written as an aid to potential bidders. RIAC acknowledges that there may be errors in writing beyond the bold title description. RIAC recommends that you view any item you have bid on in person or have it viewed by a recognized expert. Statements beginning with the word condition are opinions, not statements of fact or warranties. If a dispute arises over a lot, it is the buyer's responsibility to provide a written statement from a recognized qualified expert within 30 days of the auction that the title in bold is indeed incorrect. The 30-day return period is NOT calculated from the date payment is made or the date items are received. The 30-day return period will not be extended for late payment or late receipt of merchandise. If the expert's statement is indeed correct, RIAC will issue a full refund upon return of the goods, provided the goods are returned in the same condition as received. In the unlikely event that merchandise needs to be returned to RIAC, Buyer is responsible for all shipping costs. RIAC should reiterate again that the guarantee is only in the bold title of the description and RIAC will only honor this guarantee within 30 days of the auction. This right to return an item purchased at auction shall be expressly limited to situations where errors have occurred in the bold title description of an auction item and such 30-day return clause does not apply to the return of an auction item. auction item for any other reason. RIAC will not have any other obligation, that is, returns or returns will not be accepted if the above conditions are not met. Items offered for sale as described in the catalog or any sales note, advertisement, addendum, or elsewhere as to authorship, period, culture, source, origin, size, quality, rarity, provenance, importance, display, or physical condition are qualified statements of opinion and not representations or warranties. No employee of RIAC or any person purporting to act on behalf of RIAC is authorized to make, on behalf of RIAC or shipper, any representation or warranty, oral or written, with respect to any lot or item for sale.
11. LINKAGE, MODIFICATIONS AND DIVISIONS. The terms and conditions of sale will be binding on the successors and assigns of all bidders and buyers and will inure to the benefit of RIAC's successors and assigns. No waiver, amendment, or modification of the terms of this document (other than by posted notices or oral announcements during the sale) will be binding on RIAC unless specifically stated in writing and signed by RIAC. If any part of these terms and conditions of sale is, for any reason, invalid or unenforceable, the invalid part will be removed and the rest of the terms and conditions of sale will continue to be valid and enforceable.
12. RESERVATIONS. Some items in this auction may be subject to reserve (the confidential minimum price below which the lot will not sell). If a lot is offered with reservation, the RIAC may implement this reservation through a bidding process in the name of the consignor. Bookings above the high estimate will not be allowed and in many cases the booking is less than the low estimate. This offer will generally not constitute an opening offer. If the RIAC declares an opening offer and no advance is received, the RIAC will approve the item. However, once the tender is open, the RIAC will make an offer on behalf of the carrier to reach the reserve price. The Auctioneer may reject nominal bids, which are small initial offers or very nominal down payments made for the purpose of depreciating an item. If a lot does not bid at 25-30% or more of the minimum estimate, the item may be approved and not sold, and not relisted until a later sale. This determination to sell the item at the current auction or to offer it again at a subsequent auction is at the sole discretion of the Auctioneer. The RIAC purchases items on the open market or may offer a guarantee to a shipper. In either case, the RIAC may have ownership or other financial interest in the items being auctioned. This interest in the auctioned items cannot be disclosed. If RIAC has an interest in a tendered lot and the proceeds therefrom, in addition to our commission, RIAC may bid on the tendered lot to protect such interest and such bidding is not prohibited pursuant to Section 13 below. Items that are not reserved are sold at the Auctioneer's discretion.
13. OFFERS FROM SENDERS. Carriers other than RIAC are not authorized to bid on their own goods, nor can any agent bid on their behalf. If Auctioneer acknowledges or is informed of such offer, Auctioneer reserves the right to remove any or all items consigned by the offending consignor. It is not prohibited conduct under this Section 13 for an Auctioneer to bid on behalf of the shipper to meet the reserve price as provided in Section 12 above.
14. FINANCIAL INTEREST IN THE PROPERTY. Buyer acknowledges that RIAC has a financial interest in all items offered for sale, as RIAC receives a commission from the seller and a premium from the buyer. In addition, Buyer acknowledges that a conflict of interest may exist because RIAC, its officers or employees, or an entity owned by one or more of them, may have a financial interest in an item offered for sale beyond Buyer's commission. seller and the buyer's premium, which may include an equity stake or a guaranteed amount offered by RIAC to a shipper of an item for sale.
15. ABSENT BIDDING. As a service to anyone wishing to bid prior to the sale, RIAC may accept bids on behalf of potential bidders, at RIAC's discretion, by telephone or in absentia using forms provided by RIAC. A No Show Proposal must be received and approved for credit prior to the sale date. It is the Bidder's responsibility to establish credit prior to bidding, or RIAC will accept a 15% deposit on the total value of bids submitted. (Deposits will be returned within ten (10) days of sale if unsuccessful). A Missing Offer form is included in the back of the catalog. Proposals may also be faxed to (309) 797-1655. In addition, the online tender is available on the RIAC website. Buyers acknowledge that by absentee bidding by mail, email, telephone, through Internet service providers, or any other absentee means (i.e., remote bidding), there is no fiduciary duty between the bidder and RIAC. . Buyer acknowledges that RIAC has a fiduciary duty to sellers and not to bidders or buyers. Buyer acknowledges that RIAC is under no obligation to disclose ownership of any item being auctioned. Any absent bids are executed as if the bidder were actually present and bidding. RIAC will attempt to execute bids in such a way that bids with the lowest possible bid prevail. RIAC assumes no responsibility for failure to execute bids over the phone, away from home, or on the website/online for any reason or for failure to execute bids in such a way that bids do not prevail in the bid. lowest possible.
16. TELEPHONE BID. To bid on a lot by telephone at the time of sale, the bidder must contact the RIAC in advance to make arrangements. The bidder must contact the RIAC before 2 pm. the day before the sale to arrange to bid by phone. If the bidder contacts the RIAC after 2 pm. the day before the sale, the RIAC cannot guarantee that the bidder's offers will be executed. A RIAC representative will contact the bidder on the day of the sale, before the requested lots are offered for sale. Telephone proposals may be submitted by fax to (309) 797-1655 or may be submitted through our online service.
BY PARTICIPATING IN THE TELEPHONE BID, BIDDER AND BUYER UNDERSTAND, ACKNOWLEDGE AND AGREE THAT THE TELEPHONE CONVERSATION IS RECORDED.
“Ofertas Cúbreme”: As a telephone bidder, keep in mind that there is a risk that the RIAC may not be able to communicate with the bidder by phone. Therefore, the telephone bidder may consider allowing their telephone representative to execute the bid on their behalf. When arranging telephone bids, the Telephone Bidder must simply provide the maximum amounts it is willing to bid for each lot in the event that RIAC is unable to contact the Telephone Bidder. This value is only used if the Telephone Bidder is not on the phone with his representative. If the Telephone Bidder is contacted by telephone, the telephone representative will rely solely on the Telephone Bidder's verbal instructions. “Hedge offers” are not mandatory; the telephone bidder may place them at his discretion. "Hedge bids" are simply a safety net in case the telephone bidder cannot be reached on time or at all. All terms provided in Section 13 above apply to any "Cover Me Offer", including, without limitation, all acknowledgments made by Buyer and any disclosure of non-obligation by RIAC.
17. FIREARMS LAWS. All firearms made after 1898 must be registered in accordance with Illinois state and federal law. Purchasers of firearms made after 1898 must complete state and federal registration forms at Rock Island Auction Company, 7819 42nd Street West, Rock Island, IL 61201, unless otherwise specified. A 3-day recovery period is required for modern pistols and modern long guns. Out-of-state dealers and buyers must have signed copies of their Federal Firearms License (FFL) in their possession on the day of sale to accept same-day delivery of modern firearms.
18. CLASS 3. All firearms designated as Class 3 must be registered in accordance with the NFA registry. After purchase, all interstate transfers are made from the RIAC to a Class 3 dealer, one with an FFL/SOT license, in your area. There is no transfer fee for the buyer at that time. When the transfer is approved, the firearm is sent to the Class 3 dealer. The Class 3 dealer then prepares a Form 4 transfer for the buyer. The buyer pays a stamp duty fee of $200 at that time. The only interstate transfers that can be made to a person are those where the buyer has a curio and relics license and the firearm being purchased has been classified by the ATF as a curio and relics NFA. A $200 federal tax payment is required to submit documentation of transfer. This fee, as well as the full amount due, must be paid at the time of purchase in order to process paperwork. The new owner of the Class 3 firearm will need to complete 2 forms: 1) ATF Form 4 and 2) fingerprint card. These forms will be provided to you by the RIAC. Note: If state or local law requires a permit or license to purchase, possess, or receive firearms from the NFA, a copy of the transferee's (buyer's) permit or license must accompany the application. The RIAC then sends the procedures for the Federal Transfer Tax to the BATFE. The RIAC will receive back one of the Forms 4 (sent in duplicate) with the attached Federal Tax Stamp. This is given to the new owner upon delivery of the NFA firearm. No other taxes are paid. Please check your state status prior to bidding or buying to ensure your eligibility to own and own a Class III firearm as the laws continue to change. SPECIAL NOTE: If you are a SOT (Special Occupation Tax) payer (class 3 dealer), you may transfer functional NFA firearms to or from other SOT payers and government agencies with BATFE approval, but without having to pay a transfer tax. RIAC does not warrant or represent that the above forms, fees, licenses and/or approvals will be sufficient for you to own or use your purchased firearm(s). Check with federal, state, and local laws, law enforcement personnel, or an attorney to ensure that you legally own, own, or use the firearms you purchase and that all fees, licenses, and approvals have been completed.
19. STATE OF THE FIREARMS. RIAC makes no warranty or representation, and no RIAC employee or consultant has the authority to do otherwise, regarding the firing operating conditions, suitability for use, storage safety, or reliability of any firearm. of fire, ammunition or parts. Use of any firearm or ammunition purchased from RIAC is at the user's own risk. RIAC offers lots for sale only as “collection” lots. RIAC strongly recommends that all weapons, ammunition, etc. purchased at auction are examined by a competent gunsmith. RIAC expressly disclaims any liability for accidents, injuries or damages resulting from the storage or subsequent use of any lot to any person.
20. PROTECTED OR THREATENED SPECIES OR WILDLIFE. Any property comprising or incorporating endangered or protected species or wildlife may have import and export restrictions established by the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITIES). These items are not available for international and in some cases domestic shipping. In addition, these items may be subject to seizure by state or federal authorities if proper documentation authorizing their sale is not presented. By placing a bid, the bidder acknowledges that he is aware of the restriction and assumes responsibility for obtaining and paying for any applicable licenses or permits for the delivery of the items. RIAC is not responsible for failure to ship purchased items or if such items are seized by state or federal authorities prior to shipment or transportation to the winning bidder.
21. DELIVERY, SHIPPING AND STORAGE COSTS. All delivery, shipping and storage charges must be paid by the successful bidder prior to delivery of the firearm.
22. SHIPPING. If RIAC is required to ship the purchased lots, there will be a separate charge for this shipment. Shipping charges for the firearm purchaser will be based on RIAC's standard rates based on the type of firearm shipped. Shipping rates for all non-firearm lots will be based on the size and weight of the item. RIAC's standard rates do not apply to any item shipped to the states of Alaska or Hawaii or the Commonwealth of Puerto Rico. All lots shipped must be covered by shipping insurance unless Buyer expressly waives such shipping insurance, in which case such insurance will not be provided for lots shipped by Buyer. If RIAC does any packaging and handling of the purchased lots, it will be at the buyer's risk and expense. All packages are shipped with an adult signature required. RIAC is not responsible for any act of omission in packaging or shipping. Purchased lots handled by third-party shippers or packers, including those recommended by RIAC, may carry their own insurance and any claims for loss or damage should be made directly to the third-party shippers or packers. RIAC will arrange packing and shipping as soon as possible. RIAC will try to ship as quickly as possible; however, due to the high volume of RIAC's remote bidding, shipping may take up to two weeks after full payment is received. In the case of boxing or any exceptional packaging, the buyer will be charged the cost of the RIAC of external agents. Buyer pays shipping, packing materials, and insurance charges. Buyer acknowledges and agrees that RIAC reserves the right to purchase its own carrier insurance, to be self-insured if RIAC determines that such insurance is necessary in its sole and absolute discretion.
Ammo bundles will be sent to FFL only. If you catch it, you must have FOID or FFL. All state and local laws apply.
The shipment of any item purchased outside of the United States is classified as a "foreign export." Any export abroad is the sole responsibility of the buyer.
23. DISPUTES UNDER THIS AGREEMENT. Buyer and RIAC agree to mediate any dispute or claim that arises between them as a result of Buyer's participation in the Auction or any resulting transaction, except that Buyer fails to make full payment of Buyer's obligations under the Auction. RIAC. If the buyer does not make full payment to RIAC, RIAC may, but is not required to, go directly to court. In addition, Buyer and RIAC agree that, in the event Mediation is required, the parties will equally pay the Mediation fees, if any. The Buyer and the RIAC are obligated, according to the terms and conditions of sale, to initiate a Mediation before arbitration or any legal action. If a party initiates a legal action other than Mediation without notifying the other party in writing, the party initiating the legal action will not be entitled to recover attorneys' fees, even if otherwise permitted in the action. All mediation, arbitration, and judicial proceedings, whether in state or federal court, must be filed and conducted exclusively in Rock Island County, State of Illinois, and not in any other jurisdiction.
In the event Mediation is unsuccessful in resolving the dispute between the parties, Buyer and RIAC agree that any dispute or claim, in law or in equity, arising out of Auction participation or any resulting transaction shall be resolved by binding arbitration. neutral, using the American Standards Arbitration Association and must be commenced and held in Rock Island County, State of Illinois. Any bidder or buyer agrees that the choice to restrict any and all claims to Arbitration is a voluntary decision and is evidenced by the bidder's or buyer's participation in the auction. Buyer specifically agrees to the following: I have read the terms and conditions of sale, and by my participation in this sale, I agree that all disputes arising out of my participation will first be submitted to Mediation and, if Mediation fails to resolve the dispute, and/or submit to binding neutral arbitration with RIAC and any other entity under this agreement. No legal action will be commenced until a person has completed in good faith all Mediation and Arbitration procedures as required herein.
24. LIMITATION OF LIABILITY. EXCEPT AS EXPRESSLY PROVIDED ABOVE, ALL PROPERTY IS SOLD "AS IS". NEITHER ROCK ISLAND AUCTION COMPANY NOR SENDER MAKES ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE TITLE, MERCHANTABILITY, SUITABILITY OR CONDITION OF THE PROPERTY OR AS TO THE ACCURACY OF DESCRIPTION, GENUINENESS, ATTRIBUTION, SOURCE OR PERIOD OF OWNERSHIP OR WHETHER BUYER WILL ACQUIRE ANY COPYRIGHT OR OTHER INTELLECTUAL PROPERTY RIGHTS IN THE LOTS SOLD OR WHETHER A WORK OF ART IS SUBJECT TO THE ARTIST'S MORAL RIGHTS OR OTHER RESIDUAL ARTIST RIGHTS. ALL FIREARMS AND AMMUNITION ARE SOLD AS COLLECTORS LOT ONLY. ROCK ISLAND AUCTION COMPANY EXPRESSLY DISCLAIMS SUITABILITY TO FIRING OR UNLOAD THE GUN OR AMMUNITION. A COMPETENT RECORD SHOULD BE CONSULTED BEFORE ATTEMPTING TO USE OR DISCHARGE A FIREARM OR AMMUNITION. BUYER EXPRESSLY ACKNOWLEDGES AND AGREES THAT IN NO EVENT SHALL ROCK ISLAND AUCTION COMPANY BE LIABLE FOR ANY DAMAGES, INCLUDING, WITHOUT LIMITATION, ANY COMPENSATORY, INCIDENTAL OR CONSEQUENTIAL DAMAGES.