Grubstake Auction Terms and Conditions

Welcome to Grubstake Auction Company! By participating in our auctions, you agree to the following terms and conditions:

General Terms
1. Binding Agreement: By registering, bidding, or consigning, you acknowledge and agree to these terms and conditions.
2. Right to Amend: Grubstake Auction Co. reserves the right to modify these terms at any time, with changes effective immediately upon publication.
3. Lot Adjustments: Grubstake Auction reserves the right to add or delete lots at any time during the auction process.
4. Bulk Sales: Grubstake Auction reserves the right to sell any and all goods listed as bulk at its discretion.

Registration
1. Eligibility: All bidders must register prior to participation. A valid photo ID and payment method are required for registration.
2. Deposit: Grubstake Auction may require a refundable deposit to secure bidding privileges.
3. Account Responsibility: Each bidder is responsible for their account activity. Sharing account credentials is prohibited.

Bidding
1. As-Is, Where-Is: All items are sold "as-is, where-is" with no guarantees or warranties expressed or implied.
2. Finality of Bids: All placed bids are final. As company policy, we do not retract bids.
3. Default Liability: If payment for items is defaulted or removed for any reason, the defaulted person is liable for the difference in sale price between their high bid/winning bid and the final sale price of the lot.
4. Bid Increments: Bid increments are subject to change at any time at the auctioneer's discretion.
5. Maximum Bids and Reserves: When a bidder places a maximum bid, it will be placed equal to the reserve price if the maximum bid exceeds the reserve price. The auctioneer reserves the right to lift a reserve price at any time, guaranteeing a sale to the highest bidder at any price.
6. Legally Binding Commitment: Being the high bidder on an item, with or without reserve, is a legally binding commitment to purchase the item for the amount of the high bid. This does not include maximum bids which exceed the current high bid.
7. Internet Bidding Service: Grubstake Auction Company provides internet auction bidding as a service to the bidder. Bidder acknowledges and understands that this service may or may not function correctly on the day of the auction. Under no circumstances shall the bidder have any claim against Grubstake Auction Company or anyone else if the internet service fails to work correctly before or during timed auctions. Grubstake Auction will not be responsible for any missed bids from any source. Internet bidders who desire to make certain their bids are acknowledged should use the website feature and leave their maximum bid 24 hours before the auction ends.

Payment
1. Due Immediately: Payment is due in full at the conclusion of the auction unless otherwise arranged.
2. Accepted Methods: We accept cash, credit cards, certified checks, and approved electronic transfers.
3. Buyer's Premium: A buyer's premium of 20% will be added to the final hammer price of each item.
4. Document Fee: A $50 document fee will be charged on each vehicle purchased.
5. Online Invoice Fee: A $25 fee will be applied to all successful online bidders.
6. Title Transfer: Titles will be transferred to the purchaser upon full and final payment. Vehicle titles or property paperwork will be provided at the time of pick-up.

Pickup and Removal
1. Pickup Deadlines: Items must be removed by the specified deadline. After this, storage fees of $50/day per item will apply.
2. Abandonment: Items not picked up within one week will be considered abandoned and may be resold or disposed of at Grubstake's discretion.
3. Buyer Responsibility: Buyers must provide their own labor and equipment for item removal. Staff assistance is limited.
4. Assumption of Risk: Individuals attending previews, inspecting lots, or picking up won items assume all risks of injury or personal property loss. Grubstake Auction and its principals shall not be held liable for any such occurrences.

Consignors
1. Consignment Agreement: Items consigned to Grubstake are subject to a separate consignment agreement detailing terms, fees, and reserves.
2. Ownership Guarantee: Consignors guarantee they hold legal ownership of all consigned items.
3. Payout: Settlement checks will be issued to consignors within 14 days of the auction's conclusion.
4. Record Keeping: Grubstake Auction will maintain detailed records of auction goods, sales, consignors, purchasers, and outcomes.

Liability
1. Inspection Encouraged: Grubstake encourages all bidders to thoroughly inspect items prior to bidding.
2. No Claims: Grubstake is not liable for errors, omissions, or inaccuracies in item descriptions or images.
3. Indemnity Agreement: Purchasers agree to indemnify and hold harmless both the consignor and Grubstake Auction against any damage caused by the purchaser or their agents.
4. Hold Harmless: By participating, you agree to hold Grubstake harmless against claims related to loss, damage, or injury during the auction process.

Additional Provisions
1. Photography/Video Release: By attending, you grant Grubstake permission to use any photographs or videos taken at the event for promotional purposes.
2. Dispute Resolution: Any disputes will be resolved under the laws of the State of Alaska, with jurisdiction in Anchorage.

For inquiries or assistance, please contact us at auction@alaska.net or call 907-274-9269. Thank you for choosing Grubstake Auction Company!

Grubstake's Summer Solstice Industrial Auction This auction will feature a multitude of items ranging from vehicles, heavy equipment, powersports, industrial surplus, building material, office trailers and much more. Keep checking back as more items are being added daily.