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Type Online-Only Auction
Price Realized Price Realized Not Uploaded
Date Sold 5/22/2018

Auctioneer Asset Reliance, Inc.
Location La Verne, CA 91750
Date(s) 5/22/2018

Lot # 142
Group - Category Industrial & Manufacturing
Lead BURR KING belt grinder, mdl. 760
Name Z Manufacturing Inc
Auctioneer Asset Reliance, Inc.
Type Online-Only Auction
Date(s) 5/22/2018
INTERNET BIDDING ONLY Bidding closes on Tuesday, May 22, 2018 at 2:00 p.m. PDT
Preview Date/Time Monday, May 21, 2018, 9:00 a.m. to 4:00 p.m. PDT
Checkout Date/Time Wednesday, May 23, 2018 through Friday, May 25, 2018 9:00 a.m. to 4:00 p.m.
Location 2679 Sierra Way
La Verne, CA 91750
Buyer Premium 15% Buyer's Premium on All Sales
Description
Owner retiring: Full spectrum machine shop
Auction Terms & Conditions 1. BUYER'S PREMIUM: A 15% Buyer's Premium will be added to all winning bids on all sales. This will be reflected on buyer's final invoice. All items sold "as is, where is". 2. OUT-OF-COUNTRY BIDDERS: All bidders residing outside the United States must wire transfer a $7,500 good-faith deposit 5 days prior to auction. Once deposit is received, bidder will be approved to bid online. The deposit is refundable within 3 business days of the close of the auction if the bidder is not the high/winnng bidder on any item. It will be applied to the purchase on winning bids. 3. CURRENT PHONE NUMBER REQUIRED: Bidders must provide a valid telephone number which will be verified prior to bidder approval. 4. PAYMENT TERMS: Cash, cashier's check or wire transfer ONLY within 24 hours of close of sale. No credit cards will be accepted. Company checks accepted ONLY with bank letter of guarantee. Specific bank letter content requirements available from Auctioneer. Full payment must be made prior to removal of purchases. Wire transfers for balances due can be made to Asset Reliance, Inc. Contact auctioneer for information. In order to insure proper credit, it is important to include the name of the auction, your name and your buyer number in the wire transfer instructions. a) In the event the purchaser fails to pay the purchase price within the time limits set forth in these stated terms and conditions or fails to comply with any of the terms of the sale, the seller may resell at public or private sale any and all of the purchaser's merchandise in the possession of auctioneers. Purchaser hereby agrees to pay any deficiency resulting from such resale together with all charges, fees and expenses in conjunction with such resale and further agrees that auctioneer may retain the auction deposit to be applied to any such deficiency. b) For any purchase paid in cash of $10,000 or greater, the buyer is required to complete a United States Treasury Department Form 8300. These forms are available from the auctioneer and must be completed and returned to the auctioneer at the time of completing purchase. 5. SALES TAX: Sales taxes will be added to the purchase price of all taxable items. Dealers who purchase for resale must pay the sales tax or provide resale number and completed reseller certificate (California: Form bo3230.pdf). Dealers who purchase for resale must be buying items which are congruent by the nature of their specific resale business. a) NOTE: Out-of-State buyers are NOT exempt from California state sales tax unless the purchase is removed from auction site by common carrier and delivered directly to buyer's out of state address. Common carrier bill of lading copy must be provided to auctioneer 6. CHECK OUT DATES: Check out will begin Wednesday, May 23, 2018 from 9:00 a.m. to 4:00 p.m. through Friday, May 25, 2018 from 9:00 a.m. to 4:00 p.m. and will continue Tuesday, May 29, 2018 and Wednesday, May 30, 2018 from 9:00 a.m. to 4:00 p.m. Any additional auction site access for asset removal will be by appointment only with Auctioneer but in no case no later than Friday, June 1, 2018 at 4:00 p.m. 7. CHECK OUT HOURS: 9:00 a.m. to 4:00 p.m. as noted above. 8. Items may be offered in units of piece, pound, feet or in bulk to the highest bidders. 9. Items will be sold on an "as-is, where is basis without any warranty expressed or implied whatsoever". All sales are final. Purchaser agrees to pay all costs of removal and purchaser does hereby indemnify and hold harmless auctioneers and seller for any and all damage, claim or liability for injuries to persons or property caused by the removal of items purchased. Bidders are strongly advised to inspect assets at the sale preview dates. 10. Buyer and/or their truckers/riggers are solely responsible to provide all labor personnel, equipment and material needed to pick up and remove purchases and shall assume all responsibility for the removal of any item of property purchased at the sale and any and all risks associated with such removal including, without limitations, full financial responsibility for any damage or liability to persons or property resulting from any negligent act or omission of buyer or any of buyer's employees, agents and/or representatives during pick-up and removal. NOTE: FORKLIFT SOLD IN THE AUCTION WILL NOT BE AVAILABLE FOR MACHINERY LOADING. 11. Buyer's machinery movers/riggers authorized by buyer to perform work on the premises or to remove any purchases will be required to show proof of liability insurance and Worker's Compensation coverage before the removal shall be permitted to commence. RIGGERS/MACHINERY MOVERS MUST DISCONNECT ELECTRICAL LINES OF MACHINES AT THE JUNCTION BOX AND CAP OFF ALL LIVE WIRES. 12. No Shipment or Packaging of Items by Auctioneer: Buyer is solely responsible for any purchases to be shipped out of state. Purchaser shall be responsible for all packaging and shipping costs as well as all costs of removal. 13. While quantities, descriptions and capacities are believed to be correct, there are no guarantees and the auctioneers, owners and advertising media will not be held responsible for any written or verbal discrepancies or inaccuracies whatsoever. Buyer is encouraged to do their own due diligence prior to sale on specifications of items sold. 14. In live on-site auctions, the auctioneer reserves the right to group lots, make lots smaller or to add to or delete or change numerical sequence of lots at his sole discretion and reserves the right not to accept or acknowledge any bid which is merely a fractional advance over the preceding bid. 15. The auctioneers assume no responsibility for any liability once title passes. 16. Soft Close Format: This online auction is conducted in a soft close format. A soft close prevents individuals from entering a bid at the very last second before an auction closes in order to prevent others from bidding higher. Auctioneer has a 3-minute soft close policy on each lot. This means that if a bidder enters a bid within three minutes of the lot's initial closing time, a three minute extension would be added on. The lot will not close until bidding is static for three minutes. 17. Unless otherwise announced by the Auctioneer in these terms and conditions, the sale may be "with reserve" and, therefore, sellers or secured creditors may have reserved the right to bid on any lot being offered for sale. 18. The auctioneer shall in no event be liable to the purchaser for non-delivery of any lot for any reason except for the return of the deposit or monies paid on such non-delivered lots. 19. In the event that it becomes necessary for the seller or auctioneer to commence an action to enforce the terms of this agreement or to collect on invoices, the purchaser agrees to pay all attorneys' fees and costs of collection so incurred. 20. Any online announcements made on the day of the auction take precedence over catalog, website or other previously announced or documented information but do not alter in any way the basic terms and conditions of the sale. 21. Persons in attendance during inspection, sale or removal of merchandise assume all risks of damage or loss to persons, property or merchandise and shall exercise proper precautions at all times for the protection of persons and property and shall comply with all safety and health requirements as provided by any local, state and federal regulations and as directed by auctioneer. 22. Neither auctioneer, its agents, its employees or representatives shall be liable by reason of any defect in or about the condition of the premises on which the auction is held. Buyer specifically releases auctioneer, its agents and representatives from all liability thereof. 23. In no event will auctioneer's liability to buyer exceed the purchase price actually paid. A buyer's claim shall be limited to the amount paid for the merchandise and shall not extend to any obligation, risk, liability, right, claim, remedy for loss of use, revenue or profit, liability of buyer to any third party, personal injury or any other direct, indirect, incidental or consequential damages. 24. At no time shall a buyer be in the facility without an Asset Reliance, Inc. employee during preview and/or check-out. 25. Riggers/moving companies must have a copy of the customer's paid-in-full invoice releasing the equipment to the rigger. They must also present auctioneer with proof of liability insurance prior to removal of any item purchased. 26. Auctioneer reserves the right to accept bids in any increment he feels is in the best interest of his client, the seller. The auctioneer reserves the right to reject the bidding of any registered bidder not approved by Auctioneer for online bidding. 27. The auctioneer reserves the right to add or delete lots. When seller has a security interest in the equipment designated for auction, they retain the right to credit bid either in person or through a representative or agent. Auction sales may be cancelled for reasons beyond auctioneer's control. Auctioneer assumes no liability for expenses or time-loss incurred by buyers in the event of a third party forced cancellation of an auction sale. Auction items may be subject to prior sale. 28. Some items offered for sale at the auction may be restricted from shipment outside the United States. All sales of these "restricted technology" items are intended for destination only within the United States and it is the sole responsibility of the buyer to obtain proper export licenses, where required, and if permitted by U.S. law. 29. In the event of a software glitch, Auctioneer reserves the right to intervene on behalf of the bidder to determine who is the winning bidder. --------------------------------------------------------------------------------------- Sebae Data Solutions, Inc. SERVICE TERMS AND CONDITIONS ACCEPTANCE OF TERMS Sebae Data Solutions, (the makers of Auction Flex & HiBid (formerly Bidopia) hereafter referred to as "Sebae"), provides its service to you, subject to the following Terms & Conditions ("TAC"), which we may update from time to time without notice to you. The most current version of the TAC can be found found at any time by visiting the link: http://www.auctionflex.com/showtandc.ap USE AND REGISTRATION Our services are available only to, and may only be used by individuals who can form legally binding contracts under applicable law. Without limiting the foregoing, our services are not available to children (persons under the age of 18) or to temporarily or indefinitely suspended members. If you are under the age of 18, you can use this service only in conjunction with, and under the supervision of your parents or guardians. If you do not qualify, please do not use our service. If you are registering as a business entity, you represent that you have the authority to bind the entity to the TAC. REGISTRATION OBLIGATIONS In consideration of your use of the Service, you agree to: (a) provide true, accurate, current and complete information about yourself as prompted by the Service's registration form (such information being the "Bidder Information") and (b) maintain and promptly update the Registration Data to keep it true, accurate, current and complete. If you provide any information that is untrue, inaccurate, not current or incomplete, or Sebae has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, Sebae has the right to suspend or terminate your account and refuse any and all current or future use of the Service (or any portion thereof).  DESCRIPTIONS OF SERVICE Sebae provides the following services under the Auction Flex & HiBid trademarks: Integrated Web Service (for auctioneers), internet bidding (absentee, online-only, & webcast). You can learn more about these services in the following sections. HIBID INTERNET AUCTION PLATFORM & WEB SERVICE DESCRIPTION Sebae provides the HiBid (formerly Bidopia) Internet Auction Platform & Web Service ("HWS") under the HiBid trademark as a software solution for auctioneers wishing to extend the audience of their live auctions to the internet. The HWS provides various features including internet absentee bidding, internet-only auctions, and webcast auctions.  The HWS is able to changes its appearance to coincide with the website that it is powering. Accordingly, the HWS powers the www.hibid.com website as well as numerous Auction Flex customer websites. This ability to change appearance is a feature of the HWS. Much like internet merchant account providers can host a secure web page for a vendor to easily process payments, the HWS hosts certain portions of the auctioneer's website to easily enable advanced features such as internet bidding.  INTERNET ABSENTEE BIDDING Internet absentee bidding allows you to place a bid for an item in advance of an auction. This allows you to place bids on lots without actually attending the auction. INTERNET-ONLY AUCTIONS Internet only bidding allows you to place a bid for an item prior to the auction lot closing online. In an internet-only auction there is no live auction. WEBCAST AUCTIONS Webcast auctions allow you to bid in real-time against other bidders or place pre-bids prior to a lot going "live". Lots are sold in accordance with the Auctioneer's terms and conditions which are accessible from each lot's page. It is your responsibility to read and accept the Auctioneer's terms and conditions prior to placing your bid. When you place a bid you are agreeing to be bound by the Auctioneer's & Sebae's terms and conditions. By placing a bid you are entering into a legally binding and enforceable contract. Please keep in mind that you are bidding against other internet bidders as well as floor bidders, phone bidders, and regular absentee bidders (this list does not constitute a complete list of bidder types but does highlight the common bidder channels). The auctioneer, at their discretion, can approve or deny bidders. The auctioneer reserves the right to accept or deny bidders for any reason. Prior to approval the auctioneer may contact you to determine your credit worthiness. If the auctioneer approves your bid, the auctioneer will then process your bid in accordance with their terms and conditions. Should your bid for a lot prove successful, the auctioneer may contact you to arrange for payment & shipping (if applicable). If the auctioneer required registration via a credit card, the auctioneer reserves the right to process your winning bids to the credit card provided during registration. Sebae, through the Auction Flex & HiBid products & services, facilitates the internet bidding process between the Auctioneer & the bidder. Sebae is in no way a party to the transaction. Because Sebae is not a party to the transaction, you accept that you will have no claim or cause of action against Sebae in respect of the sale (or non-sale) of any Lot. If you have a dispute with an Auctioneer or another user of the Service with regard to the sale (or non-sale) of any Lot you agree that Sebae, its officers, agents, employees will not be liable for losses (including, but not limited to, loss of profits, special loss, indirect loss and consequential los), costs, damages, liabilities, claims, demands and expenses of any kind arising out of or connected with such dispute. You also accept that none of the aforementioned are under any obligation to take any action to resolve any dispute between you and an Auctioneer Sebae is not responsible for any typographical, pictorial or technical errors in information about Lots on the Site as provided by Auctioneers. Sebae does not evaluate Lots and does not act as a specialist or expert on any related subject matter. Sebae makes no warranties or representation of any kind or nature with respect to Lots (including but not limited to representations or warranties as to the accuracy of description, genuineness, quality, authorship, attribution, provenance, period, culture, source, origin or safety). If you have any questions, e-mail the Auctioneer directly. In particular, make sure that you understand the Auctioneer's payment terms and shipping terms. BIDDING The Service requires you to login with your username and password prior to placing a bid on a Lot. Making bids with false information or with stolen credit card information is prohibited and illegal. Your user name and password are required in order to place internet bids. Making bids in a false name or with an invalid or stolen credit card is prohibited. Each bid carries the computer coding of the Internet provider which allows the individual user to be traced and Sebae may at its discretion release this information to enable legal action to be taken. Sebae may, in its entire discretion, refuse or remove bids where it suspects that bids contravene this prohibition. By placing a bid, you are making a binding and irrevocable offer to purchase the Item at any price up to the maximum bid amount you submit. If you win, you must complete the transaction, subject to any contractual right or other right at law to rescind the contract in certain circumstances. Failure to complete transaction without lawful reason is not only a breach of your contract with the Seller but also a breach of this User Agreement. The amount bid can be increased but cannot be decreased. The auctioneer may, at their discretion, allow you to withdraw and resubmit a bid in the case of bids containing an obvious typographical error. You may forward a request to withdraw a bid and resubmit a correct bid by immediately sending an email to the auctioneer, however, there is no guarantee that any bid will be withdrawn. Although Sebae will use best efforts to forward all bids, Sebae does not accept any responsibility for lost bids or problems with the recipient auctioneer's ability to process your bid. Moreover, Sebae cannot guarantee that bids received will be processed by the individual auctioneers. Please note that Sebae's role is limited to the provision of the Site for dissemination and publication of information provided by the Sellers. THE WINNING BID The winning bid in an auction will be the highest bid that exceeds any reserve (if a reserve exists). In the case of equal bids, the earliest bid received will be the winning bid. If a higher bid is subsequently withdrawn or removed then the auctioneer shall have the right to accept the next highest bid. NOTICE OF END OF SALE, PAYMENT & SHIPPING After the sale has ended, the auctioneer will notify the winning bidder via phone, fax or mail that they have won. If you do not receive notice that you have made the winning bid and think that you are the top bidder, you should check with the auctioneer directly. You will make all payment for Items to the auctioneer in accordance with their terms and conditions. BUYER'S PREMIUM, TAXES AND DUTIES If you are a successful bidder, you are responsible for paying any buyer's premium, taxes and duties (including any VAT, sales tax and import duties) that may be imposed on the final price paid for an Item. Accordingly, it is your responsibility to check the applicable taxes and duties that may be imposed on an Item prior to bidding for it. PRIVACY We do not sell or rent your personal information to third parties for their marketing purposes without your explicit consent and we only use your information as described in the Privacy Policy. COPYRIGHT All material and content as provided by the Service is protected by copyright and similar rights. You can not use or make available any of that material for any commercial purpose. SPECIAL ADMONITIONS FOR INTERNATIONAL USE Recognizing the global nature of the Internet, you agree to comply with all local rules regarding online conduct and acceptable content. Specifically, you agree to comply with all applicable laws regarding the transmission of technical data exported from the United States or the country in which you reside. DISCLAIMER OF WARRANTIES You expressly understand and agree that: a. Your use of the service is at your sole risk. The service is provided on an "as is" and "as available" basis. Sebae expressly disclaims all warranties of any kind, whether express or implied, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose and non-infringement. b. Sebae makes no warranty that (i) the service will meet your requirements, (ii) the service will be uninterrupted, timely, secure, or error-free, (iii) the results that may be obtained from the use of the service will be accurate or reliable, (iv) the quality of any products, services, information, or other material purchased or obtained by you through the service will meet your expectations, and (v) any errors in the software will be corrected. c. Any material downloaded or otherwise obtained through the use of the service is done at your own discretion and risk and that you will be solely responsible for any damage to your computer system or loss of data that results from the download of any such material. d. no advice or information, whether oral or written, obtained by you from Sebae or through or from the service shall create any warranty not expressly state in the TAC. LIMITATION OF LIABILITY You expressly understand and agree that Sebae shall not be liable for any direct, indirect, incidental, special, consequential or exemplary damages, including but not limited to, damages for loss of profits, goodwill, use, data or other intangible losses (even if Sebae has been advised of the possibility of such damages), resulting from: (i) the use or the inability to use the service; (ii) the cost of procurement of substitute goods and services resulting from any goods, data, information or services purchased or obtained or messages received or transactions entered into through or from the service; (iii) unauthorized access to or alteration of your transmissions or data; (iv) statements or conduct of any third party on the service; or (v) any other matter relating to the service. EXCLUSIONS AND LIMITATIONS Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for incidental or consequential damages. Accordingly, some of the above limitations of of the previous two sections titled 'Disclaimer of Warranties' and 'Limitation of Liability' may not apply to you. INDEMNITY You agree to indemnify and hold Sebae harmless from any claim or demand, including reasonable attorneys' fees, made by any third party due to or arising out of your breach of this Agreement or the documents it incorporates by reference, or your violation of any law or the rights of a third party. LEGAL COMPLIANCE You shall comply with all applicable domestic and international laws, statutes, ordinances and regulations regarding your use of our service and your bidding on, listing, purchase, solicitation of offers to purchase, and sale of items. GENERAL INFORMATION The TAC constitute the entire agreement between you and Sebae and govern your use of the Service, superseding any prior agreements between you and Sebae. The TAC and the relationship between you and Sebae shall be governed by the laws of the State of Florida without regard to its conflict of law provisions. You and Sebae agree to submit to the personal and exclusive jurisdiction of the courts located within the county of Marion, Florida. The failure of Sebae to exercise or enforce any right or provision of the TAC shall not constitute a waiver of such right or provision. If any provision of the TAC is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties' intentions as reflected in the provision, and the other provisions of the TAC remain in full force and effect. You agree that regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to use of the Service or the TAC must be filed within one (1) year after such claim or cause of action arose or be forever barred.
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 99.00 25.00 USD
99.01 - 100.00 25.00 USD
100.01 - 500.00 50.00 USD
500.01 - 99,999.99 100.00 USD
100,000.00 - 9,999,999.99 250.00 USD
Currency USD
Buyer Premium 15% Buyer's Premium on All Sales
Payment Terms
Cash, cashier's check or wire transfer ONLY within 24 hours of close of sale. No credit cards will be accepted. Company checks accepted ONLY with bank letter of guarantee. Specific bank letter content requirements available from Auctioneer. Full payment must be made prior to removal of any purchases. Wire transfers for balances due can be made to Asset Reliance, Inc. Contact auctioneer for information. In order to insure proper credit, it is important to include the name of the auction, your name and your buyer number in the wire transfer instructions.
Auctioneer is not responsible for any packaging, shipping, etc. All personnel and insured movers are buyer's responsibility. Proof of liability coverage and worker's compensation insurance required for movers and third-party personnel removing purchased assets from the sale site. FORKLIFT SOLD AT THE AUCTION WILL NOT VE AVAILABLE FOR MACHINERY LOADING.