May NetAuction Edition 2 - 2024

Bid Approval

All items are sold subject to owner confirmation. Winning bidders will be notified about the status of their bids the day following the close of the auction.

Buyer’s Premium Schedule (per item)

• $1.00 - $999.99                    15%
• $1,000 - $9,999.99              10%
• $10,000 - $24,999.99          8%
• $25,000 - $49,999.99          7%
• Over $50,000                        6%

Payment Payment must be made or initiated within 48 hours of the close of the auction. Forms of payment include: cash, check, wire or ACH transfer or credit card. A 2% convenience fee will apply to invoices paid by credit card with totals of $5,000 and up.

By failing to pay within specified time frame, you acknowledge that the transaction may be cancelled, and you may be blocked from bidding again in all future auctions.

Removal All items must be picked up within 10 days after the auction close. Buyers are solely responsible for contacting the seller and making arrangements to pick up their purchases. Failure to pick up or make acceptable arrangements with the seller may result in the following:

·      $250 storage fee (paid directly to the seller) for picking up the item 10-30 days after the sale.

·      If the item(s) has not been picked up 31 days after the auction close, the seller is entitled to charge their own storage, transport or impound fees.

Refunds A full refund of the purchase price, taxes and fees may be given if it discovered after the sale that the item was misrepresented. Misrepresentation is defined the failure to disclose mechanical or operational information that negatively affects an items value or the inaccurate description of an items specifications. To be eligible for a refund, the following conditions must be met:

·      RTI must be notified of the issue within 7 days of the close of the auction.

·      The item must be returned to its original location.

·      The items must be returned in the exact condition it was taken, any alteration or repair will cancel the refund.

PLEASE NOTE: RTI will NOT refund transportation costs or repair investment.

*MDI - Manufacturer’s Direct Item –These items are new and have come directly from the manufacturer. By purchasing it, the buyer acknowledges that there is no dealer support for its long-term use. RTI Auctions CANNOT provide parts, service advice or any additional production information.

General Terms

Soft/Rolling Close:If a bid is placed in the last (3) three minutes of the auction, the ending clock will automatically reset to (3) three minutes until the bidding ends. Postponement and cancellation: Roy Teitsworth Inc., reserves the right to postpone or cancel any featured auction or owner auction, or any sale, without notice. Roy Teitsworth Inc. will have no liability to prospective bidders or sellers as a result of any withdrawal, cancellation or postponement of auctions or sales. Void Bids: Roy Teitsworth Inc. reserves the right to reject or void bids, whether winning or not, which it believes to have not been made in good faith and/or is intended to manipulate the auction process,or is prohibited by law. Participation: Roy Teitsworth Inc., unilaterally reserves the right to deny anyone from participation on our “on-line” auction at any time.  Warranties: All equipment sold is “AS IS, WHERE IS” The auctioneer and the seller have described the items to the best of their ability and belief. The auctioneer and seller undertake no liability whatsoever in respect to any faults, deficiencies, or errors of any description oral or printed, no do they accept responsibility for authenticity of origin, age, condition, or quality of any lots. Each and every lot is sold as seen, no guarantees or warranties (express or implied) are included with respect to the equipment or vehicle in each lot.

Buyer Terms

Registration: Upon registration you will choose a username and password. After you have received your username and password you will have the ability to log into our auction to bid. Your username and password are permanent and will be reused for all online auctions.  In accepting the terms of sale, you are agreeing to pay the bid amount, buyer’s premium if applicable, and any other taxes or fees set forth in the terms with the equipment description. At the auction close you have entered a contract with Roy Teitsworth Inc. for purchase of the equipment. Inspection: Buyers are responsible for their own inspection and or judgment as to the condition of the equipment when bidding. Award Approval: All items are sold subject to seller approval (unless otherwise stated). Buyers will be notified if their bid has been accepted by the close of business the day after the auction. Payment: Buyers are responsible to pay for their purchases in full within 48 hours of the close of the sale. Applicable state of NY sales tax will be charged on all lots. Bidders from within the state or outside the state of NY will be exempt from sales tax only if they provide proof of approval tax exemption status and exemption certificates that are acceptable to the state of NY. If purchasing equipment with DMV paperwork and paying with a company check the title will be held 14 days then mailed priority. If you have an established relationship with Roy Teitsworth Inc. from our live auctions this requirement may be waived. In the event that purchaser fails to pay for the entire purchase within the time set forth by the auctioneer and/or fails to comply with any of the terms and conditions of sale, the seller may retain and/or recover any monies paid as part of the damages and in addition thereto, items that are not paid for can be resold at public auction without further notice.