Auction - Terms of Sale
CLICK HERE To Read The Addendum To The Consignment Agreement
Except where stated elsewhere, in writing, all lots are sold on an "as is, where is" basis. The Auctioneers make no warranties of any kind, expressed or implied, about any lot specificaly.
The auctioneers make no warranty that lots are:
- Of any particular manufature, model, make or condition;
- Fit for any particular purpose;
- Merchantable or financable;
- Conform to any safety or pollution standard, or comply with any other standard or requirement of any authority, law or regulation.
Information has been provided about lots from the consignor of the lot and from sources generally believed to be reliable, But the accuracy of this information cannot be guaranteed by the auctioneers. Lots are available for inspection before each sale. It is the purchaser's responsibility to inspect all lots and make his or her own inquiries as to the make, model, year, condition or other particulars of any lot.
- Once the Auctioneers have accepted a successful bid, the lot becomes the Purchaser's sole responsibility and the Purchaser accepts all risks associated with the lot. It is the Purchaser's responsibility to arrange for insurance immediately.
- Bid prices do not include GST. The Purchaser agrees to pay GST on the bid price, unless the Purchaser proves to the Auctioneers satisfaction that they are exempt from paying the GST.
- The Purchaser agrees that they have no right to take possession of any lot until payment has been made in full. Terms of payment are as follows:
- A minimum $500.00 non-refundable deposit must be paid to the Auctioneers on the day of the sale. Deposits may be paid by cash, certified cheque, VISA,, Mastercard, or Debit Card;
- The balance owing must be paid within one business day of the Auction Sale. Payment will be accepted in Cash, Certified Cheque or Debit Card, interest will be charged on all outstanding accounts at a rate of 24% per year.
- The Purchaser is responsible for removing the lot from the Auction Sale within two business days of the date of the Sale at their own cost, responsibility and risk. If the Purchaser does not remove the lot within two business days, the Purchaser agrees to pay storage charges to the Auctioneer's in the sum of $25.00 per day.
- If the Purchaser fails to make payment in full within the required time, or fails to comply with any other term of this sale, the Auctioneers shall have a Purchase Money Security interest and a possessors lien on any of the Purchaser's lots and may resell any of these lots on the Purchaser's behalf without notice to the Purchaser. The sale proceeds from this resale, less commission of 12% and any costs will be credited against the Purchaser's account. The Purchaser agrees to pay the Auctioneers immediately upon demand any deficiency remaining on account, as liquidated damages.
- A sale is not invalid as a result of any inaccuracy in the description of a lot. Listing Catalogues have been prepared by the Auctioneers only as a guide based upon information from sources generally believed to be reliable and from the Consignor but accuracy cannot be guaranteed or warranted by the Auctioneers.
- All necessary documents will be delivered to the Purchaser upon payment of the total balance owing. If documents are not available from the consignor at the time that the total balance owing is paid, documents shall be mailed to the purchaser within 7 days of payment.
- If the Auctioneers are unable to:
- Deliver any lot;
- Provide clear title to any lot, or
- Provide any necessary documentation for any lot;
The Auctioneers' liability shall be limited to return of any moneys paid for that lot, upon return of the lot by the Purchaser to the Auctioneers. The Auctioneers may choose to demand the return of a lot from the purchaser for any of the reasons listed in this Paragraph and the Purchaser agrees to return the lot at the Auctioneers'; request. The Auctioneers will not be liable for any consequential loss or damages except return of the moneys paid in any circumstances.
Addendum To Consignment Agreement
- Owners of vehicles which develop mechanical problems while consigned at Regal Auctions which render the vehicle inoperable will be charged storage at $25.00 per day if the vehicle is not repaired or removed from premises within two business days of notification.
- Vehicles dropped off for sale with dead batteries will have a reconditioned battery installed at a cost of $75.00+GST.
- Owners of vehicles, which run out of gas while consigned at the auction, will be levied a charge of $10.00 each and every time gas is added to the unit.
- Vehicles consigned for a prolonged period of time may require exterior washing. This will be decided at Regal's discretion at a cost of $15.00 per wash.
- It is illegal to knowingly sell a vehicle with a non-working odometer or incorrect mileage. All odometer discrepancies of inconsistencies must be declared.
- All vehicles that are "Out of Province" must be declared as such. There are severe penalties for selling an "Out of Province" vehicle without declaring same.
- There will be an additional lien search fee of $35.00 for every out of province lien search. These searches are expensive and are not covered by our ordinary commissions.
- Any vehicle that is "Written Off", "Frame Damaged" or has "Repaired" status must be reported to the counter staff when booking the vehicle in. Failure to do so may result in costly litigation and heavy fines.
- Under the Free Trading Act, owners may not under any circumstances bid on their own vehicles in the auction ring. It is suggested that owners be present at sale time to represent their vehicle and advise the auctioneer of their lowest selling price when the vehicle is in the auction ring.
Regal Auctions: Serving banks, leasing companies, rental fleets, new and used car & truck dealers, credit unions, trustees, finance companies and private indiviudals throughout Alberta.
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