The Auction establishes these policies in order to promote fairness to all parties- both buyers and sellers. The Auction reserves the right to terminate any business transaction that it deems unethical.
The Auction makes no guarantee that information on CarFax, AutoCheck, etc. is accurate, and will not arbitrate soley on information from such sources.
On vehicles sold at auction, The Auction does not guarantee or get involved with any warranty coverage whatsoever, including any third party, Factory, or dealer warranty.
Any and all arbitration issues should be discussed no less than 1 hour after the sale, with all concerns being addressed in the initial claim.
The Auction is not responsible for loss or damage to any vehicles left on Auction Premises at owner’s request and risk, even though the vehicle and keys may be placed in The Auction’s custody. Vehicles left on Auction Premises for a period of more than 5 days or more will be assessed a $25.00 storage fee followed by a $5.00 per day charge until vehicle is picked up. Auction has the right to tow/impound any vehicle left on Auction parking lot or premises for more than 1 week.
“AS IS” vehicles sold under red light
An “AS IS” sale is determined by the following conditions and is not subject to arbitration for any reason, except odometer discrepancies, frame unibody, and mandatory announcements in previous section.
1. All vehicles sold under $1200.00.
2. All vehicles 10 years old or older.
3. All vehicles with over 125,000 miles.
4. All miscellaneous items such as campers, motor homes, motorcycles, boats, boat motors, dune buggies, trailers, house trailers, jet skis, snowmobiles, kit cars, reconstructed vehicles, salvaged vehicles, antique cars, taxis, municipal or government vehicles and any other non-vehicle or specialty units are exempt from arbitration for frame/unibody damage, mileage/hours, and year model.
5. All off the block sales are sold “AS IS”; it is the buyer’s responsibility to inspect vehicles.
6. All vehicles for $1200.00 or less are “AS IS” and are not subject to arbitration for any reason.
7. All vehicles sold at In-Op sale are sold “AS-IS”, with no exceptions.
8. Auction does not guarantee miles on vehicles that are exempt regardless of what seller announces.
9. Vehicles 10 years or older are sold “Mileage Exempt”. All vehicles that are Exempt are “TMU”. The True Mileage is not known on Exempt vehicles. “TMU” DOES have to be announced on exempt vehicles.
Title Policy
The Auction guarantees the title of vehicles that are sold at auction are clear of all liens. Failure to announce that the title is not present at the sale “No Title (Blue Light) at the block permits the buyer to void the transaction. This is limited to sale day only. If vehicle is sold with title, title must be presented at time of sale, or a “no title fee” will be charged.
Late Titles
Until title is received, Buyer is cautioned not to make repairs or improvements on unit (you will NOT be reimbursed), not to put excessive mileage on unit, to cause no damage to unit, and not to sell unit until title is received. After 30 calendar days the buyer has the option to return the unit or wait for a reasonable period of time for title. Special arrangements must be made with the Auction before unit is returned, including:
1. Auction must be notified 24 hours prior to the return of the unit by the Buyer.
2. Buyer must have prior approval from Auction management to return any unit to Auction.
3. The Seller is responsible for all Auction fees due on transaction.
Seller Responsibilities
1. All conditions, mileage discrepancies, and known defects must be fully disclosed. All insurance company information, such as total loss, flood damage, theft, collision, and government title must be fully disclosed.
2. Seller must disclose all mandatory announcements under Seven Day Mandatory Announcements, regardless of lights.
3. Seller as clear and valid title (see section Title Policy).
4. All Gray Market vehicles must be announced.
5. Odometer Status- Actual Mile, Exempt, TMU, replaced, Salvage History, Theft Recovery, Lemon law buybacks, donated charity, former taxis, livery, municipal and government vehicles.
6. Any State of Kentucky taxes (taxes owed on a vehicle) must be announced by the seller. The seller will then be responsible to reimburse the buyer the monies due to the state.
Buyer Responsibilities
1. Buyer should inspect vehicle fully before purchase and verify seller’s disclosures. Buyer is responsible for verifying the VIN or serial number, year, make, model, and mileage reading (odometer) on all purchases at time of sale.
2. The Auction is NOT responsible for administrative errors. It is the buyer’s responsibility to listen for announced conditions and watch for lights.
3. Buyer will follow Auctioneer’s price, any discrepancies should be addressed at the time before the Auctioneer says “SOLD”, not following the sale. Items written in vehicles by the seller are a representation and are subject to arbitration.
4. Buyer will pay bid price plus buyer’s fee as posted throughout auction. Buyer also guarantees sufficient funds, draft, or floor plan. Dealer’s check must be printed to match dealer’s license and auction registration. NO personal checks accepted.
5. Buyer agrees that if vehicle is returned to Auction, it is in the same condition or better, than when purchased. Buyer may be charged for damage or excessive mileage, which will be determined by the Auction.
Gray Market Vehicles
No Gray Market vehicles, other than vehicles made in North America for Canadian use and that are converted to U.S. conditions, can be sold. The vehicle must be in conformance with all U.S. federal safety standards. Seller must also disclaim that vehicle is a Canadian vehicle at time of registration and announce same on block. Vehicle MUST have valid title.
General Rules
No Firearms allowed on Auction premises, except by authorized Auction personnel.
No Alcohol allowed on Auction premises.
No Children under the age of 15 allowed on Auction premises. NO EXCEPTIONS.
No Customer is allowed in restricted area without a Bidder’s Badge.
All Dealers must be licensed in their state and registered with The Auction prior to doing business.
All Public Customers must have a valid Driver’s License and must be registered with The Auction prior to doing any business.
All Titles submitted by Seller must be in Seller’s name and completed. Foreign Titles are not acceptable.
All vehicles with a Salvaged Title or Previous Salvaged Title must be announced.
If a vehicle is to be sold with a Title, the Title must be presented at the block at the time of sale or a “No Title Fee” will be charged.
All Public Customers must submit a clear and valid Title to the Auction office for review before they will be allowed to consign a vehicle with The Auction.
Titles and supporting documents with corrections, deletions, erasures, or alterations are not acceptable.
No vehicle will be offered for sale without VIN or serial number plate or proper verification. Seller is responsible to ensure a vehicle is properly offered for sale at the block. The Auction does not guarantee the model year of any house trailer, motor home, boat, boat motor, antique, truck, dune buggy, kit car, or motorcycle. Seller is responsible for verifying the model year of the vehicle being sold. The Auction will not become involved in any subsequent disputes regarding model year. Verification of year, make, and model is the sole responsibility of the seller.
“If” sales will be binding to the Buyer through 12:00 PM Noon the following business day after the sale unit is purchased. In the event The Auction cannot reach the Seller the “if” sale stands at the Buyer’s option, until contact with the Seller can be made.
Adjustments, Rejections, and Arbitrations must be handled on Sale Day.
AUCTION POLICIES ARE SUBJECT TO CHANGE WITHOUT NOTICE.
