Name Large Restaurant/Food Service Equipment Auction
Auctioneer Asset IQ LLC
Date(s) 9/12/2017
September 12, 2017 @ 10 AM
Preview Date/Time September 7, 9-3 September 11, 2-4 Beginning at 9am day of auction
Checkout Date/Time September 12, 2017
Location 9976 Springfield Pike
Cincinnati, OH 45215
Buyer Premium 15% Buyer's Premium
Description
Owner Retiring Selling all the inventory of "I Buy Kitchen Stuff" ……… A used restaurant/food service equipment retailer. AUCTION HIGHLIGHTS Equipment is totally refurbished and ready for use This is a large auction with nearly 500 lots. Prep tables* Stainless Refrigerators & Freezers * Ice Machines * Glass Dr. Beverage Coolers * Soft Serve Ice Cream Machines * Kegerators * Stoves * Ovens * Fryers* Warming Cabinets *20 qt. & 60 qt. Hobart Mixers * Microwaves* Stainless Sinks & Tables *Pretzel & Nacho Merchandisers * Restaurant Equipment parts & repair tools *2007 Dodge Ram 2500 pickup w/1,000 lb. lift gate* and much more. If you are in the restaurant/food service business, or sell used equipment you will not want to miss this auction. This auction contains multiples of most equipment which often presents fantastic buying opportunities at bargain prices. This will be a live simulcast auction with pre auction and live online bidding. Inspection: Thursday Sept. 7, 9AM to 12PM*Monday 2PM to 4PM and beginning at 9AM day of auction Removal: Until 6 PM day of auction and 9AM until 4PM Sept. 13 & 14. For more information, including a complete catalog and to bid online, go to assetiqllc.com Mark Euton, Managing Auctioneer Lic. #57198538019 meuton@assetiqllc.com Mobile Ph. 513-678-7347 Office Ph. 513-724-1133 Asset IQ, LLC Firm Lic. # 2012000209
Auction Terms & Conditions 1. PAYMENT: All items purchased MUST be paid with cash, MC/Visa/Amex/Discover, wire transfer or approved checks. Buyers paying by check or credit card will be required to have positive picture I.D. (Drivers License, Passport or state issued I.D.) and will be required to allow us to capture their thumbprint. 2. SETTLEMENT: All persons attending the live auction will be required to pay their invoices in full within 30 minutes of the auction conclusion. All online bidders will be required to pay their invoices in full before the removal of any purchases. Any person not complying with these conditions or anyone issuing a non-sufficient fund check agrees to be liable for a 25% surcharge upon settlement. Time is of the essence. 3. TITLE: When the article is announced SOLD by the Auctioneer, title to said merchandise passes immediately to the purchaser. Asset IQ, the seller, its personnel and independent contractors are not acting as the purchasers security agent and assume no responsibility for any missing items. Further, it is understood Asset IQ provides no one for purposes of checking items as they are removed. 4. INSPECTION: All goods are available for inspection prior to the auction and are being sold on an as-is, where is basis with no warranties, either expressed or implied, as to the correctness of description, genuineness, authenticity or fitness for a particular purpose. 5. REMOVAL: Purchaser, by bidding, agrees to abide by the posted removal times, which are until 6PM day of auction and 9AM to 4PM the following two days Sept. 13 & 14. Any additional removal time must be approved by the auctioneer prior to the beginning of the live auction. The purchaser is responsible for the removal of all items purchased. This responsibility cannot be passed by the subsequent sale or gift of any item(s). Any item not removed within the posted removal times will be considered abandoned and will be removed by Asset IQ contractors, but at the purchasers expense, including but not limited to: additional dumpsters, forklift rental extension, and any associated labor costs. In addition, purchaser understands that the removal supervision personnel are independent contractors, not employees of Asset IQ. Any removal extensions are at the sole discretion of the seller. 6. DISPUTES: In the event of a tie bid or a disputed bid, the Auctioneer in his/her sole discretion, may determine the successful bidder or may resell the item(s). Should a dispute arise after the auction, Asset IQ sales records and tape recordings, if applicable, shall be deemed final. No dispute will be recognized once an item has left the premises. 7. GROUPING: Asset IQ acknowledges that they are the agents of the seller, and reserves the right to group and divide any or all lots for the benefit of its client. 8. SALES TAX: State sales tax laws will be followed. State sales tax will be charged when applicable unless the bidder has filled out all the necessary paperwork, including but not limited to state tax exemption forms with their tax I.D. number. 9. LIVE BIDDING BUYER PREMIUM: A fifteen percent buyer premium will be added to the high bid to determine the total purchase price. 10. INTERNET BUYER PREMIUM: An eighteen percent buyer premium will be added to the high bid to determine the total purchase price. 11. AUCTION DAY ANNOUNCEMENTS: Any announcements made by the Auctioneer on the day of the Auction take precedence over any printed materials or previous assertions. 12. ADMITTANCE: Asset IQ reserves the right to refuse admittance to anyone for cause, or to cause to have removed from the auction arena anyone who interferes with the auction activities. 13. LEGAL REMEDY: By your bidding you acknowledge complete acceptance of these terms and conditions, whether signed or not, creating a binding contract. Failure to comply after purchase may result in any legal recourse available. All parties agree that any legal disputes shall be decided by binding arbitration in Clermont County, Ohio under the rules and procedures of The American Arbitration Society. By purchasing, the buyer further agrees to hold harmless the sellers and Asset IQ for the costs of all litigation including, but not limited to, attorney fees (not to exceed $400.00 per hour), court costs, collection fees (not to exceed 40%), transportation and storage costs, and any other associated costs or fees. RISK CLAUSE We the undersigned (Purchasers), acknowledge the purchase of personal property as outlined by invoice from Asset IQ. BUILDING DAMAGE: Purchasers hereby agree to be totally responsible and liable to the Asset IQ, building owner or their agents for any and all damages resulting to the building or building from the removal of any goods and/or purchases from said buildings, and agree to restore damaged areas to the condition in which said buildings were in, on the day prior to the removal. Purchasers further agree that the restoration is to be done immediately upon the completion of the removal of purchasers' equipment and solely at the purchaser's expense. PROPERTY DAMAGE: Purchasers agree to be responsible to other purchaser and/or Asset IQ for damage done to other equipment or personal property during the removal of Purchasers' merchandise. Purchaser acknowledges that their monetary responsibility may be up to the full replacement amount plus reimbursement of any reasonable attorney fees incurred. Purchasers further agree to maintain the necessary insurance coverage to indemnify Auction Firm and/or Sellers for said losses or to act as a self-insured. BODILY INJURY: Purchasers acknowledge that they, their employees, workers and/or contractors are not employed by the Auction Firm or the sellers. Purchasers further agree to indemnify Asset IQ and Sellers and to protect, defend, and hold harmless, from and against any and all lawsuits, loss, cost, damage, injury, loss of daily income, or expense, including without limitation, reasonable attorney fees, which Asset IQ or Sellers may incur by reason of having a claim asserted against them for: (I) injury to Asset IQ employees, contractors, or agents occurring during the removal of Purchasers' equipment; (II) injury to any and all persons and property during the removal of Purchaser's equipment; (III) injury to any and all persons and property during the removal of Purchaser's equipment; (IV) injury to purchasers' employees or agents while on the premises. Asset IQ and/or Sellers shall be entitled to participate in the defense of and such action by council of its own choosing. --------------------------------------------- ------------------------------------------ Terms Of Use

Seller User Terms

Bidder User Terms
Currency USD
Buyer Premium 15% Buyer's Premium
Payment Terms
PAYMENT: All items purchased MUST be paid with cash, MC/Visa/Amex/Discover, wire transfer or approved checks. Buyers paying by check will be required to have positive picture I.D. (Drivers License, Passport or state issued I.D.) and will be required to allow us to capture their thumbprint.