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Buyer's Terms and Conditions


Buyer's are welcome to register for any of our auctions provided they agree to follow the terms and conditions defined by Southern Trust Estate and Auction Company.  Some limitations may apply for special auctions such as real estate, automobile and heavy equipment.  Please visit our website often or sign up for our newsletter and auction alerts for details and buyer qualification requirements concerning our upcoming or on-going auctions. 


Bidder Registration:  All qualified bidders must be at least 18 years of age and present a valid ID or driver's license.  All bidders must be registered prior to auction and have intentions of purchasing items for which they offer bids.  Bidders will be assigned a bidder number and must use that number as identification when purchasing an item.  Bidder numbers are not transferrable to non-spouse or partners.  We allow absentee and phone bidding.  Certain requirements apply to qualify.  Details are available by contacting our staff.


Payments:  Payments may be made with cash, approved checks, Visa, Master Card, Discover or American Express.  In certain cases, money orders or wire transfers will be accepted.  All items must be paid in full day of auction unless otherwise arranged.  Unpaid items will be reclaimed as property of the consignor after 7 days.


Warranties:  STEACO auctions sell all items in 'as is, where is' condition and make no expressed or implied guarantees or warranties as to authenticity, brand, working condition or functionality.  It is the sole responsibility of the bidder to inspect all property prior to bidding and must accept item purchased as a final sale.  No refunds are permitted. 


Buyer's Fees:  A 10% buyer's premium will be charged unless otherwise announced prior to auction. Additional percentages may be charged for certain online auctions as well as a 3% processing fee added for credit card purchases.  Returned checks will be charged a $25.00 penalty and cause bidder to be required to pay in cash only for future auctions.  Items purchased but not removed from premises will be charged a $5.00 per day storage fee after 7 days unless otherwise arranged.  Buyers participating in auctions requiring title or deed transfers must pay any additional fees associated with taking possession of property.  Buyer is responsible for all shipping, packing and delivery charges related to removing purchased property from the auction premises.


Buyer Possession:  Once the hammer falls and purchase is awarded to a  bidder the item immediately becomes the property of the bidder (even though payment has not been made).  It is the responsibility of the buyer to secure the item and to hold auctioneer/firm harmless in a case of theft or damage to the item once purchased.


Bidder Suspension:  It is important that bidding remains fair and honest for all who engage in the auction process.  It is toward this end that STEACO reserves the right to suspend or pass on any bidder who is suspected of engaging in unlawful or unethical bidding practices.  Some of these include, but not limited to, bid rigging, bid pooling, seller bidding on personal non-reserve items, or bidding without serious intent to purchase.  Other behaviors that will result in the removal of a bidder are bullying, intimidation, theft or intentional damage of property, or making any misleading or untruthful comments about a property put up for auction in an attempt to devalue the item. 

Southern Trust Estate and Auction Company