AUCTION TERMS AND CONDITIONS

These Auction Terms and Conditions ("Terms") govern participation in the auction conducted by Watts Auction Realty Appraisals, Inc.("Auction Company"). By registering, bidding, or purchasing property at the auction, whether in person, online, or through an authorized representative, each bidder ("Bidder") acknowledges that the Bidder has read, understood, and agreed to be legally bound by these Terms.

1. Registration and Eligibility

Registration is free. Every Bidder must register before bidding and provide a valid driver's license or other government-issued photo identification acceptable to the Auction Company.

The Auction Company may require a bank letter, line-of-credit letter, proof of funds, deposit, or other evidence of the Bidder's ability to complete a purchase. A Bidder financing a purchase must provide a letter from the applicable financial institution confirming the financing arrangement.

The Auction Company may approve, reject, suspend, or revoke any registration or bidding privilege in its reasonable discretion.

2. Agreement to Terms

Registration or submission of a bid constitutes the Bidder's acceptance of these Terms.

Each bid is a binding and irrevocable offer to purchase the applicable item. The highest Bidder acknowledged by the Auctioneer is obligated to complete the purchase, subject to the Auctioneer's authority under these Terms.



Bid Deposit Requirement

As a condition of REGISTERING FOR AUCTION, the bidder authorizes a $100.00 temporary authorization (“soft hold”) to be placed on the credit card on file. This authorization is not intended to constitute a permanent charge. The $100.00 authorization will be released or returned to the card in accordance with the policies and processing timelines of the cardholder’s issuing bank or financial institution.

3. Buyer's Premium

A buyer's premium will be added to the final accepted bid price as follows:

Bidding method

Buyer's premium

On-site bidding

10%

Online bidding

12.5%

The buyer's premium is part of the total purchase price, is added to the final bid, and is nonrefundable.

4. Auctioneer's Authority

The Auctioneer has the sole authority to conduct and control the auction and may:

Establish or change bid increments.

Accept or reject any bid.

Resolve disputed, mistaken, late, or simultaneous bids.

Reopen bidding when the Auctioneer determines that doing so is appropriate.

Withdraw, combine, divide, add, or reorder items.

reject or remove any Bidder whose conduct interferes with the auction.

Correct clerical, catalog, or administrative errors.

The Auctioneer's determination concerning the conduct of the auction and the identity of the successful Bidder is final, subject to applicable law.

5. Online and Simulcast Bidding

Online bidding is provided as a convenience and may be delayed relative to the live auction. Online Bidders assume the risk of internet outages, platform failures, transmission delays, missed bids, software errors, device failures, or other technical problems.

To the fullest extent permitted by law, neither the Auction Company nor the Seller is liable for a bid that is delayed, lost, rejected, duplicated, or not received because of a technical problem.

6. Condition of Property

Every item is offered and sold AS IS, WHERE IS, WITH ALL FAULTS, without any representation, warranty, or guarantee, express or implied, except as expressly stated in a written instrument signed by an authorized representative of the Auction Company or as otherwise required by law.

To the fullest extent permitted by law, all implied warranties are disclaimed, including warranties of merchantability, fitness for a particular purpose, condition, quality, safety, operability, authenticity, age, mileage, hours, description, and noninfringement.

The Auctioneer, Auction Company, its employees, and the Seller may provide descriptions or opinions concerning an item's condition, characteristics, or operability. Such statements are opinions and are not warranties or guarantees.

7. Inspection and Independent Verification

The Bidder is solely responsible for previewing, inspecting, researching, and evaluating each item before bidding. This responsibility includes verifying, as applicable:

Condition, safety, and operability.

Make, model, year, serial number, and vehicle identification number.

Mileage, hours, specifications, dimensions, and quantity.

Ownership, liens, title status, and vehicle history.

Authenticity, completeness, suitability, and legal use.

Failure to inspect an item does not relieve the Buyer of the obligation to complete the purchase.

8. Changes in Condition and Inventory

Much of the equipment may remain in daily use by the Seller until the auction. Hours, mileage, wear, operability, and condition may change before the item is sold.

Inventory is subject to addition, withdrawal, correction, substitution, or other change at any time through and including auction day. Material changes known to the Auctioneer may be announced before an affected item is sold. Each Bidder remains responsible for inspecting and confirming the item's condition before bidding.

9. Information and Announcements

All descriptions, photographs, catalogs, advertisements, serial numbers, vehicle identification numbers, title information, and other information are believed to be reliable but are not warranted by the Auctioneer, Auction Company, its employees, or the Seller.

Announcements made by the Auctioneer on auction day before an item is sold will control over inconsistent prior oral or written statements, advertisements, catalogs, or descriptions. Nothing in this section excludes liability that cannot lawfully be excluded.

10. Titles and Vehicle History

Unless an item is identified or announced as having "no title" or another title condition, a titled vehicle is expected to convey with a clear title. This statement is subject to the Buyer's obligation to conduct independent title and ownership research using the provided vehicle identification number.

Not all all-terrain vehicles, four-wheelers, utility vehicles, or side-by-side vehicles have titles. The Buyer must determine before bidding whether a title exists and whether the available ownership documents are sufficient for the Buyer's intended registration or use.

Title processing and delivery may occur after payment and removal. No Bidder may rely on an assumption concerning title status that contradicts a written or auction-day announcement.

11. Final Sale; No Returns

All sales are final upon the Auctioneer's acceptance of the highest bid. Except where otherwise required by applicable law, there are no cancellations, rescissions, returns, exchanges, credits, or refunds under any circumstances.

Damage, defects, missing parts, inaccurate descriptions, inspection failures, financing problems, changes in condition, or a Buyer's failure to inspect do not excuse payment or authorize a return.

12. Payment Deadline and Late Fee

The Buyer must pay the full invoice, including the hammer price, buyer's premium, applicable taxes, fees, and other charges, by Wednesday, September 16, 2026, unless the Auction Company provides a different deadline in writing.

Any amount not received in cleared funds by that deadline is subject to an additional late fee equal to 10% of the unpaid invoice balance, to the extent permitted by applicable law. The late fee does not extend the payment deadline or prevent the Auction Company from exercising any other remedy.

13. Accepted Payment Methods

Payment requirements depend on the Buyer's residence or billing address.

Buyer category

Permitted payment methods

Virginia Buyer

Cash; check drawn on a Virginia financial institution and approved by the Auction Company; wire transfer; or approved credit/debit card

Out-of-state Buyer

Wire transfer only

A $15 wire-transfer fee applies to each wire transfer. A 4% processing fee applies to approved credit card payments by Virginia Buyers, to the extent permitted by applicable law.

The Auction Company will not accept out-of-state checks or credit/debit-card payments from out-of-state Buyers. The Auction Company may require certified funds, proof of funds, or confirmation that a wire has cleared before releasing property.

Wiring instructions must be obtained directly from the Auction Company by email or by calling 434-821-5263. Buyers should independently verify wiring instructions by telephone before transmitting funds. The Auction Company is not responsible for funds sent to fraudulent or unverified instructions, except to the extent liability cannot legally be excluded.

14. Deposits for Delayed Wire Transfers

An in-person Buyer who intends to initiate a wire transfer on the next banking day must pay a deposit equal to 10% of the total amount purchased before leaving the auction site, unless the Auction Company agrees otherwise in writing.

The deposit will be credited toward the purchase price. A deposit does not limit the Buyer's obligation to pay the entire invoice or the Auction Company's remedies following default.

An online or remote Buyer intending to pay by wire transfer must contact the Auction Company by email and comply with all payment-verification instructions.

15. Taxes and Additional Charges

The Buyer is responsible for all applicable sales, use, title, registration, transfer, documentation, processing, storage, loading, transportation, and governmental charges.

A Buyer claiming a tax exemption must provide valid and complete exemption documentation acceptable to the Auction Company before invoicing or within any deadline established by the Auction Company. The Auction Company may collect tax whenever the required documentation is missing, incomplete, expired, or legally insufficient.

16. Removal of Purchased Property

All purchased items must be paid for in cleared funds before removal unless the Auction Company gives written authorization to Buyer otherwise.

The Buyer must remove all purchased items within five (5) business days after the auction. Special removal arrangements must be approved by the Auction Company before the auction or confirmed in writing afterward.

The Buyer is solely responsible for providing all labor, equipment, rigging, loading, transportation, insurance, permits, and supervision necessary for safe removal. The Auction Company may impose reasonable removal procedures to protect people and property.

17. Storage and Abandoned Property

Property not removed within the required period may be subject to reasonable storage, handling, relocation, towing, and related charges established or incurred by the Auction Company.

Failure to remove property does not cancel the sale or relieve the Buyer from payment. After written notice and any period required by applicable law, the Auction Company may relocate, store, resell, or otherwise dispose of uncollected property and apply the proceeds to the Buyer's outstanding obligations. The Buyer remains responsible for any deficiency, expenses, and lawful charges.

18. Risk of Loss

Risk of loss, theft, damage, or destruction passes to the Buyer when the Auctioneer accepts the Buyer's bid, except to the extent applicable law requires otherwise. The Buyer should arrange insurance immediately.

The Auction Company and Seller are not insurers of purchased property remaining at the auction site.

19. Buyer Default and Remedies

A Buyer is in default if the Buyer fails to pay when due, stops or reverses payment, fails to remove property on time, provides false information, breaches these Terms, or otherwise refuses to complete a purchase.

Upon default, and subject to applicable law, the Auction Company and Seller may exercise one or more of the following remedies:

Retain and apply any deposit or payment to amounts owed.

Cancel the sale or enforce the Buyer's obligation to complete it.

Resell the property publicly or privately.

Recover any deficiency between the original purchase obligation and resale proceeds.

Recover storage, transportation, handling, administrative, and resale expenses.

Suspend or permanently revoke the Buyer's bidding privileges.

Report the default to an auction platform or lawful collection service.

Pursue any other remedy available by contract, statute, or common law.

The defaulting Buyer is responsible for the Auction Company's and Seller's reasonable costs of collection and enforcement, including collection-agency charges, court costs, filing fees, and reasonable attorneys' fees, to the extent permitted by law.

20. Indemnification and Property Damage

To the fullest extent permitted by law, the Buyer shall indemnify and hold harmless the Auction Company, Auctioneer, Seller, and their respective owners, officers, employees, and agents from third-party claims, injuries, losses, damages, and expenses arising from the Buyer's inspection, loading, removal, transportation, possession, or use of purchased property, except to the extent caused by the protected party's gross negligence, willful misconduct, or other liability that cannot lawfully be excluded.

The Buyer is responsible for damage caused by the Buyer or the Buyer's employees, agents, contractors, equipment, or carriers.

21. Limitation of Liability

To the fullest extent permitted by law, the Auction Company, Auctioneer, Seller, and their employees and agents are not liable for indirect, incidental, special, punitive, exemplary, or consequential damages, including lost profits, lost use, or transportation expenses, arising from the auction or purchased property.

Nothing in these Terms waives or limits liability that cannot legally be waived or limited.

22. SMS and Text-Messaging Consent

Acceptance of these Terms alone does not constitute consent to receive promotional text messages. Promotional SMS/text-message consent must be obtained through a separate, optional, and unchecked authorization substantially in the following form:

Optional SMS Consent: By checking this box and providing my mobile number, I consent to receive recurring promotional and informational text messages from Watts Auction, Realty, and Appraisals, Inc. Consent is not a condition of registration, bidding, or purchase. Message and data rates may apply. Message frequency varies. Reply STOP to opt out and HELP for assistance.

Transactional messages reasonably necessary to administer registration, bids, invoices, payment, pickup, or security may be sent when otherwise permitted by law. Text-message consent and records must be handled in accordance with applicable federal and state law and the Auction Company's privacy policy.

23. Governing Law and Venue

These Terms and all transactions arising from the auction are governed by the laws of the Commonwealth of Virginia, without regard to conflict-of-law principles.

Any legal action arising from the auction or these Terms must be filed in a state court located in Campbell County, Virginia. Each Bidder consents to personal jurisdiction in the Commonwealth of Virginia and venue in the courts of Campbell County, Virginia. 

24. Severability; No Waiver

If any provision of these Terms is found invalid or unenforceable, that provision will be enforced to the maximum extent permitted by law, and the remaining provisions will continue in effect.

A waiver of one breach is not a waiver of any other or subsequent breach. The Auction Company's delay in exercising a right does not waive that right.

25. Entire Agreement; Amendments

These Terms, the applicable item listing, the Buyer's invoice, written auction-specific disclosures, and controlling auction-day announcements constitute the agreement between the parties concerning the auction purchase.

No oral statement modifies these Terms unless it is made by the Auctioneer as a controlling auction-day announcement or is later confirmed in a writing signed by an authorized representative of the Auction Company.

26. Electronic Signatures and Records

Electronic acceptance, online registration, electronic signatures, click-through acceptance, and electronic records have the same effect as handwritten signatures and paper records to the extent permitted by law.

The Bidder agrees that registration records, bidding logs, platform records, audio or video recordings, invoices, emails, and payment records may be used to establish the Bidder's acceptance, bids, purchases, and obligations.

BIDDER ACKNOWLEDGMENT AND ACCEPTANCE

By signing below, checking an online acceptance box, registering to bid, or placing a bid, the Bidder acknowledges and agrees that:

The Bidder has received, read, and understood these Terms.

The Bidder has had an opportunity to inspect the property and obtain independent professional advice.

Each bid is binding, and all purchases are final.

The property is sold AS IS, WHERE IS, WITH ALL FAULTS.

The Bidder accepts the applicable buyer's premium, payment deadline, payment restrictions, removal requirements, and remedies for default.

The individual accepting these Terms has legal capacity and, if acting for an entity, authority to bind that entity.