THIS AUCTION AGREEMENT made by You (the “Seller”) and Dudley Auctions Inc. dba Dudley Resources (“Dudley”), Auction Firm, VAAF #1060. This agreement shall allow Seller to consign assets to Auction Firm for a period of 12 months under the terms and conditions of this agreement. Assets being sold are attached to this agreement.
1.Seller does hereby commission Dudley Resources, ("Dudley") to sell the goods, merchandise and/or property ("items") listed on the attached inventory for sale by public auction and to pay a commission as follows:
Buyer’s Premium: Buyer’s will be charged a 15% Buyer’s Premium, unless otherwise negotiated by Auction Firm. Buyer’s Premium is added to High Bid at auction and collected and retained by Auction company as compensation.
Commission: In addition to Buyer’s Premium outlined above, Auction Firm will be paid a seller’s commission of 0% on all equipment and vehicles sold.
If any item is sold 24 hours before or 24 hours after the auction by brokerage, seller agrees to pay a 10% sellers commission per item. We will charge this commission if we are the procuring cause of this sale.
Sales Tax will be charged and collected on the items sold when applicable. Auction Firm will remit tax payments to the appropriate tax authorities.Seller claims, warrants and certifies that they:
are the full owner or legal representative of the listed items.
have authority to sell the items listed and good and transferable title. The listed items are free from all encumbrances, liens or claims of any kind by any third parties; or
have made full disclosure, in writing to Dudley prior to the sale, of any outstanding claims, liens or encumbrances, against any items to be sold.
Seller agrees to fully indemnify and hold harmless Dudley from any and all claims for damages of any kind, all expenses incurred including attorney fees retained in defense of any claim, resulting from any defect in the foregoing warranty and representations.
Seller agrees to full responsibility for providing clear and merchantable title and for delivery of these title documents and vehicle to Buyer’s within two business days of the sale date. All vehicles and trailers must have a vehicle ID number permanently affixed in order to be sold
The dealer will put all items/vehicles on hold for 24 hours prior to the auction sale and 24 hours after the auction sale.
Seller agrees to be responsible for all pictures of items/vehicles. Seller agrees to disclose any defects of items/vehicles. Seller is responsible for delivering the title and coordinating pick up with a representative present.3). Vehicles will be sold with reserve; all reserve prices must be agreed upon by all parties and provided to Dudley prior to sale. Any reduction in reserve must be in writing, text or email is permitted. Dudley reserves the right to place absentee bids on behalf of the Seller to represent reserve prices. Dudley reserves the right to sell up to the established reserve price at its discretion. Sellers are expressly forbidden from bidding on their own items! Violators will be removed from the auction sale and will not be permitted to return.Dudley reserves the right to bid at auction on any item.Dudley reserves the right to settle any and all disputes regarding a buyer’s default or misrepresentation by Seller in reference to year, make, model or referenced condition of item(s) sold. Resale of any item will be at Dudley and Seller’s sole discretion.All aspects of this contract, commissions, auction procedures, and marketing plans are confidential. Seller agrees that all aspects of the auction are held confidential and to be discussed exclusively with Dudley.This Agreement shall be governed by the laws of the Commonwealth of Virginia and all federal and local regulations and should any part of it be declared in violation, the remaining provisions shall not be affected and shall remain in full force and effect. No modification or addition shall be binding unless in writing and signed by the parties hereto. This Agreement shall be binding upon parties and their respective heirs, personal representatives, successors and assigns.Settlements with an itemized report and check will be mailed within 7 business days of the auction if Seller and Buyer have fully abided by the terms of all contract agreements. Auction Firm does not guarantee Buyer payment. Payments are made to Seller upon collection from Buyer.
If the auction sale must be delayed or postponed, Dudley and Seller will work together to determine a new sale date.PROPERTY BEING SOLD IS ON THE INVENTORY SHEETS ATTACHED.
ALL ITEMS DESCRIPTIONS ON ATTACHED INVENTORY SHOULD BE AS COMPLETE AND ACCURATE AS POSSIBLE.