Online auctions are related to live auctions in name only.
You are referring to Ebay's evolved rules for their online auctions. Ebay got it's start with penny no reserve auctions. There are many online auction companies now that are real auctioneers. I seriously doubt they accept returns. I understand Ebay is trying to account for bad sellers, but in doing so, they opened the door to abusive buyers. That started long ago when they stopped allowing sellers to leave negative feedback.
Here is the policy to an auction site I've seen advertised:
Terms & Conditions
Bidding on and buying auction assets on
www.purplewave.com and its affiliated websites are subject to the series of obligations and rules below.
The Terms of Website Use for this site.
The auction-specific terms and conditions unique to each auction, which are represented on the auction details page for each auction on this site.
The following general auction terms and conditions.
Sold AS-IS, WHERE IS
PURPLE WAVE, INC. (PURPLE WAVE) AND SELLER FURNISH ALL AUCTION ASSETS TO BUYERS AS IS, UNSUPPORTED, WITHOUT WARRANTY OF ANY KIND. PURPLE WAVE AND SELLER DISCLAIM ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. Assets are sold in their actual current condition, with all faults and defects, and with all errors of description. Purple Wave’s liability to a purchaser will never exceed the purchase price actually paid for an asset.
Bidders accept all auction assets with all faults, whether or not immediately apparent. Bidders are responsible for ascertaining actual current condition through personal inspection and careful review of the description, pictures, video and/or support documentation. Every bidder agrees that his or her decision to bid and the amount he or she bids have been based solely on his or her own independent inspection and evaluation of the auction assets.
Bidders are strongly advised by Purple Wave to take care to satisfy all questions or concerns about the auction process, bidding process or auction assets before placing a bid. Inspection and contact information for the seller of every asset is posted in the item details for that asset.
Buyers are responsible for the cost of auction asset mobilization, disassembly, rigging, transport, insurance and all other costs related to physical transfer of auction assets from their location at the time auction bidding ends.
If the pictures displayed with descriptions do not appear to match, contact
[email protected] or call 866.608.9283 to report the auction date and item number.
ABANDONED ASSET POLICY
Purple Wave may declare an asset abandoned when a buyer fails to make full payment by the stated payment deadline or when a buyer fails to remove an asset from the auction site by the stated removal deadline. When Purple Wave declares an asset abandoned, it may take the following steps in its sole discretion:
Purple Wave may resell the asset in an upcoming auction on the buyer’s behalf for an additional administrative fee of 20% of the original invoice price (minimum $1,000 fee) and account for the resale as follows:
Net proceeds, if any, will be released to the buyer, calculated as the resale bid price collected plus any amounts paid by the buyer against the original invoice, less all administrative and storage fees accrued;
If the resale bid price collected plus amounts paid by the buyer against the original invoice are insufficient to cover the buyer's administrative and storage fees accrued, the deficiency will continue to be owed by the buyer, and Purple Wave and the seller will retain all legal remedies to obtain that deficiency;
Net proceeds may be retained and used by Purple Wave to offset any amounts owed by the buyer related to other past or pending purchases or sales of assets by the buyer or a related party.
Where the original invoice price is < $2,000, Purple Wave may allow the seller to retain or dispose of the asset, declare the buyer’s rights to the asset immediately terminated, and retain all payments by buyer as liquidated damages.
Where an asset is declared abandoned under this policy after the buyer has been issued a certificate of title, the buyer agrees Purple Wave and its administrative personnel are appointed as buyer’s true and lawful attorney-in-fact to apply for a Certificate of Title and/or Registration upon and/or endorse and transfer title for the asset(s) in issue and, by acknowledging these terms and conditions, the buyer swears or affirms that this appointment is true and correct.
ABSENTEE BIDS
While Purple Wave will make every effort to assist bidders, we do not accept absentee bids. Please utilize the maximum bid feature.
BID RESCISSION AND REJECTION
Purple Wave reserves the right to rescind or reject any and all bids.
BID RETRACTION
Buyers agree not to retract any bid they place on the site.
BUYER’S PREMIUM
A 10% buyer’s premium will be added to all winning bids, resulting in the total purchase price.
SALES TAX
All sales are subject to appropriate state sales tax laws. Winning bidders have the burden of proving their exemption from sales taxes to Purple Wave.
ASSET TRANSFER AND RISK OF LOSS POST-AUCTION
Assets will not be released to buyers until full payment to Purple Wave has been received and funds confirmed. An auction asset becomes the full responsibility of the buyer at the close of bidding on that asset, and the buyer immediately assumes all risk of loss and damage to the asset.
AUCTIONEER’S DISCRETION
Purple Wave has full discretion to modify the date and time, order, and details of the sale of any asset or conduct of any auction for any reason or no reason at all, including but not limited to technical issues, emergencies, and convenience of Purple Wave or the seller.
CHOICE OF LAW AND VENUE; WAIVER
In any matters in which Purple Wave and/or any of its employees, officers, directors, shareholders, agents or assigns is made a party, the law of the State of Kansas shall apply, without regard to its law pertaining to conflict of laws, and any dispute shall be decided in the courts of Riley County, Kansas. All claimants consent to the personal jurisdiction of those courts. Auctioneer may waive any provision of these Terms and Conditions, but only in writing. No such waiver shall effect any other provisions of these Terms and Conditions, nor shall it amount to a permanent waiver of that particular provision.
Updated: May 9, 2016
