Auction Detail

Auction Dates

Nov 28 - Nov 28, 2018

Description

Electrical Equipment Company has decided to change directions and will be shutting down the electric motor repair shops and has contracted Lane Brothers to Sell at ABSOLUTE Auction all equipment and tools associated with repair and rebuild of electric motors.

Auction Will Begin at 9 AM

Click on Photos Link to See Pictures - Many More to Be Added Soon

Contact Adam Lane at 478-237-5848 for Questions!

Terms and Conditions - Please Click on Terms Tab for more details!

Check Back Soon for Pictures and Listings Coming Soon!
 

Terms & Conditions

TERMS OF SALE
Set forth below are the Terms and Conditions that shall apply to any purchase by any party either directly from (LBA) or in a transaction in which LBA serves as broker, agent, liquidator or auctioneer for any third party owner. The Terms apply to all Transactions, including without limitation, public auctions conducted by LBA and direct purchases by Buyer of any item either before, after or independent of any public auction. By using or accessing any and all LBA services and or Websites you agree you have read and understand the Terms stated herein and are bound to these Terms. You may not use or access any and all LBA services if you do not agree to the Terms stated herein.
TERMS AND CONDITIONS
1. All machinery, equipment, merchandise and other items (the "Goods") are sold on an "AS IS/WHERE IS" basis without warranties or representations whatsoever either expressed or implied. Neither LBA nor the consignor makes any warranties or representations of any kind or nature with respect to the property or its value, and in no event shall they be responsible for correctness of description, genuineness, attribution, provenance, authenticity, and authorship, and completeness, condition of the property or estimate of its value. No statement (oral or written) in the catalog, at the auction, or elsewhere shall be deemed such a warranty or representation, or any assumption of responsibility. Prospective bidders are urged to contact LBA directly for detailed information regarding any lot.
2. Registration.
Buyers must register prior to bidding at any auction sale and must be of legal capacity to enter into this agreement. All bidders must provide their name, company (if applicable), mailing address and phone number prior to the auction. By registering you represent and warrant any and all Buyer Information is accurate and complete. It is solely the Buyer’s responsibility to maintain current Buyer Information for completeness and accuracy. LBA reserves the right to deny and or terminate Registrations at any time at its sole discretion without notification. LBA reserves the right to deny usage and access of LBA Services and Websites at any time without notice or liability to any persons or third parties. During the registration process, all bidders will be asked to provide credit card information. ***All REGISTERED BIDDER’S cards will be charged $1 (one dollar) in order to authorize their credit card upon registering for the auction.*** THE BIDDER AUTHORIZES LBA TO CHARGE LIQUIDATED DAMAGES TO THE CREDIT CARD LEFT ON FILE DURING THE REGISTRATION PROCESS.
3. Payments. (PLEASE READ CAREFULLY): After the auction is completed you will receive an email with your invoice. The invoice will show in detail the high bid amount, the buyer’s premium and sales taxes. If your invoice shows that there is a balance due, LBA must receive the balance of the total purchase price no later than the close of business Thrusday, Nov. 29th, 2018. (The "Final Payment Date). The balance will be due before removal of any items, paid by cash; credit card, cashiers or certified check, or a corporate check accompanied with a bank letter of guarantee, and all of the foregoing must be in form, scope and substance acceptable to LBA. LBA reserves the right to charge the credit card on file for any outstanding balances not paid by the final payment date IF LBA HAS NOT RECEIVED PAYMENT FOR WINNING BIDS WITHIN 24 HOURS OF THE FINAL PAYMENT DATE, THE BIDDER AUTHORIZES LBA TO CHARGE LIQUIDATED DAMAGES TO THE CREDIT CARD LEFT ON FILE DURING THE REGISTRATION PROCESS.
4. Taxes. LBA will add an 8% sales tax to all purchases “unless we are in possession of your tax exempt card prior to the end of the auction” NO EXCEPTIONS!!!
5. Buyer's Premium. LBA, in its sole discretion, will impose a 10% buyer's premium ("Buyer's Premium") on all Goods sold ON SITE. And an additional 3% for online Buyers. The Buyer's Premium is a percentage that is added to the final purchase price of any item.
6. INSPECTION: LBA representatives will be onsite (Check Back Soon), from 8 am until 5:30 PM EST at EECO location at 1807 Boulevard West, Richmond, VA 23230 . LBA recommends a very thorough inspection before you bid online. If you would like further information on any items, please contact Adam Lane at (888) 237-9060 or Greg Burns at (478) 299-2028.
7. Removal. (1) LBA representatives will be onsite from (check back soon for dates) Closed on Weekend (check back) which is final removal day. (the "Removal Date"). (2) No Goods shall be removed until the purchaser’s invoice has been paid in full. Any Goods remaining after removal dates shall be subject to any or all remedies listed below.
IF BUYER HAS NOT REMOVED ITEMS WITHIN 24 HOURS OF THE FINAL REMOVAL DATE, THE BIDDER AUTHORIZES LBA TO CHARGE LIQUIDATED DAMAGES TO THE CREDIT CARD LEFT ON FILE DURING THE REGISTRATION PROCESS.
7A. Buyer shall be responsible for the safe and proper removal of any Goods purchased. LBA does not pack, ship, store, crate or rig items. LBA will provide forklift to assist and Reserve the Bridge Cranes to assist with Machinery loading until Final Removal day. Buyers may either pick up Goods at the designated auction site personally or can contract with a third party agent to manage the removal process for them. LBA CAN PROVIDE NUMBERS TO QUALIFIED RIGGERS FOR HELP REMOVING ITEMS WITH SPECIAL LOAD OUT REQUIREMENTS.
7B. Items that have “SPECIAL LOAD OUT REQUIREMENTS” must be removed by a qualified, insured rigger. Before any removal, Buyer must provide LBA with a certificate of insurance from the rigger, which certificate must be in form, scope and content acceptable to LBA in LBA sole discretion. Without limiting LBA discretion, such certificate must show that the rigger carries comprehensive liability insurance written by an insurance carrier of national standing and in an amount of not less than one million dollars ($1,000,000.00). Local riggers TBA. Buyer shall restore and repair all real and personal property that is altered or damaged as a result of Buyer's removal of the Goods. Buyer is solely responsible to properly remove and store in appropriate containers all fluids, oils, hazardous chemicals, etc., from machinery purchased. Buyer does hereby indemnify LBA, the owner of the Goods and the owner of the premises in which the Goods are located, from any and all claims, damages, and losses arising from Buyer's actions or actions with respect to the Goods and Buyer's presence on the premises in which the Goods are located, including without limitation, injuries to persons or property and environmental violations or contamination


7C. Small Lot Removal. LBA shall have no responsibility whatsoever for any missing or lost items that can be removed by hand. There will be NO removal of any lots until the designated removal date. ITEMS MARKED “BUYER REMOVAL” will be removed by the Buyer or agent of the buyer. LBA will provide Forklift and Operator Only.
8. After Buyer has removed any item from LBA possession, LBA shall have no obligation to make any adjustment or accommodation to Buyer because of any mistake in quantity or other defect or problem with respect to such item. Buyer must make all requests for adjustments to LBA before any item is removed from the premises where the auction is conducted.
9. LBA shall not be responsible for damages or losses caused by strikes, civil disorders, or acts of God.
10. Minimum or Reserve Prices. LBA and/or the Seller in their sole discretion, reserves the right to establish a reserve or minimum price on any Goods without having to announce, post or publish notice to attendees and buyers at any auction.
11. LBA, in its sole discretion, reserves the right to refuse the bid of any person without providing any notice or reason therefore. LBA reserves the right to deny the usage and access by any person or third party of any and all LBA Services and Websites without notification.
12. LBA, in its sole discretion, shall control all bidding increments and advances at any auction. LBA reserves the right to reject any bid that is only a minimal increase over the preceding bid, that is not commensurate with the value of the item being offered or that LBA believes was made illegally or in bad faith. In the event of a dispute among bidders, LBA may, in its sole discretion, either accept what it deems to be the final bid or solicit further bids on the item in dispute. No returns or refunds will be permitted.
13. All information provided by LBA to Buyers, including without limitation, any advertising, lot sales catalogs or otherwise, is subject to deletions, errors, additions, and changes without notice. Although information is gathered from sources thought to be reliable, LBA shall have no responsibility whatsoever for any information provided to any attendee or buyers. All buyers shall rely solely on their own investigation and inspection of any Goods.
14. If LBA is selling or auctioning any Goods on behalf of a third party owner, LBA shall act as an agent only and shall have no liability whatsoever for the acts of any owner/principal.
15. Buyers acknowledge that an auction site is a potentially dangerous place, Flammable, noxious, corrosive and pressurized substances may be present. Heavy equipment may be operated and electrical circuits may be live. Every person enters the auction site at his or her own risk with notice of the condition of the premises and the activities that will be or have been conducted on the premises. No person shall have any claim against LBA, the seller or their respective agents for any injuries sustained or for damages to or loss of property that may occur
at the auction site.
16. If the Buyer fails to comply with any of the Terms, LBA shall have all rights and remedies available to it at law and in equity. LBA may retain all deposits and partial payments received from Buyer and may resell any Goods that Buyer fails to purchase. Buyer shall be responsible for all costs, losses, and damages suffered by LBA (i) as a result of Buyer's breach of any of the Terms, including without limitation, lost profits and consequential damages, and (ii) incurred in connection with the enforcement of LBA rights, including, without limitation, legal fees and costs and expenses related to the resale of Goods, including storage and rigging fees.
17. Buyers agree they will defend, indemnify and hold harmless LBA, including its affiliates, directors, officers, employees, agents, shareholders, co-branders, or partners, from and against any and all claim, loss, damage, liabilities, judgments, fees and partners, through the use of LBA Services and Websites.