15% Buyer's Premium on Personal Property. Payments must be made by CREDIT CARD. MasterCard, Visa, Discover & American Express accepted but will incur 3% additional premium. Payment is due day of sale. All items sold "AS IS, WHERE IS" and in the condition as inspected with all faults.

FOUNTAIN CITY AUCTION - TERMS AND CONDITIONS OF SALE

IMPORTANT NOTICE TO BIDDERS: Please read all terms and conditions thoroughly before participating. By registering a bidder profile and placing a bid, you acknowledge that you have read, understood, and legally bound yourself to the terms outlined below.

1. Bidder Registration, Account Security, and Contractual Terms
1.1 Binding Contract: A successful bid at auction, whether placed live or via an online platform, constitutes a legally binding contract of sale.
1.2 Multiplier Listings: The notation "2X" (or any subsequent numerical multiplier) on a listing denotes a quantity multiplier. Your bid amount represents the per-unit price, and the final hammer price will be calculated as the bid amount multiplied by the specified factor.
1.3 Operational Control and Bidding Rights: All lots, timelines, and formats are subject to change without notice and offered with reserve under UCC § 2-328 and Tennessee law. The Auctioneer reserves the right to add, remove, split, or combine lots; set minimum bids; alter closing, inspection, or removal times; or cancel any listing or event. The Auctioneer, its owners, and employees explicitly reserve the right to bid on any lot. If a seller withdraws an item, the Auctioneer may leave the lot active and execute a buy-back bid to secure its commission and buyer's premium. Registration or bidding constitutes explicit consent to this house participation.
1.4 Bidder Account Security: Bidder registration numbers and login credentials are strictly non-transferable. The registered account holder assumes exclusive financial responsibility for all bids placed under their assigned number.
1.5 Registry Accuracy: Bidders must ensure that all profile information-including full legal name, physical address, phone number, email address, and credit card details-is accurate and current at the time of registration.

2. "As-Is, Where-Is" Clause & Absence of Warranties
2.1 Absolute Absence of Warranties: All assets and equipment are sold strictly "As-Is, Where-Is," with all faults, defects, and imperfections, and without any warranties, express or implied. Fountain City Auction disclaims any implied warranties of merchantability, fitness for a particular purpose, quality, or usability.
2.2 Identification Only: Any descriptions, measurements, photos, or digital media provided by the auction house are intended solely for identification purposes. They do not constitute a warranty or representation of year, model, authenticity, mechanical condition, or performance.
2.3 Inspection Recommended: Visual media and catalog descriptions serve as a guide only. The auction house is not liable for inadvertent errors, including the posting of incorrect photographs. Bidders are strongly encouraged to conduct a rigorous on-site inspection of items prior to bidding. Neither Fountain City Auction nor its consignor clients assume liability for bidder errors. If you are in doubt regarding an item's condition or authenticity, please ask questions or bid accordingly.

3. Financial Terms, Tax Compliance & Payment Enforcement
3.1 Buyer's Premium and Fees: A 15% Buyer's Premium will be added to the hammer price of all won lots. Payments processed via credit card are subject to an additional 3% processing fee.
3.2 Automated Payment Processing: By accepting these terms, the Buyer authorizes Fountain City Auction to automatically charge the credit card on file for the total invoice amount immediately following the close of the auction.
3.3 Default and Revocation of Privileges: All accounts must be settled in full by the Tuesday following the previous week's Friday night or Saturday afternoon auction. Failure to secure full payment by this deadline will result in the immediate and permanent revocation of the Buyer's bidding privileges at Fountain City Auction.
3.4 Sales Tax Compliance: State sales tax will be collected on all non-titled assets. Sales tax for titled items remains the exclusive responsibility of the Buyer upon transferring the title with local authorities.
3.5 Tax Exemptions: Buyers claiming a sales tax exemption for non-titled items must submit a valid resale certificate to the auction house the week prior to the auction's commencement. Exemptions must be coordinated via telephone at 865-474-9931. Do not submit exemption certificates via email (fountaincityauction@yahoo.com) unless specifically instructed to do so during your phone confirmation.

4. Removal Logistics, Asset Forfeiture, and Consignment Remedies
4.1 Removal and Transport Obligations: The Buyer assumes sole responsibility and exclusive financial liability for all logistics, labor, packing materials, and transportation costs required to remove purchased property from the designated auction location.
4.2 Removal Deadline: All purchased items must be completely removed from the premises within the strictly designated window of two (2) business days following the auction.
4.3 Default and Asset Forfeiture: Failure to take possession of property within the specified two-business-day timeframe constitutes a material default. In the event of a default, items will be deemed contractually abandoned, the Buyer forfeits all rights and claims to the property, no refunds or financial credits will be issued, and title to the items automatically reverts to Fountain City Auction for subsequent liquidation.
4.4 Mitigation via Consignment Resale: If the Buyer provides written notice of their inability to meet the removal deadline prior to its expiration, Fountain City Auction may, at its sole discretion, agree to resell the items on the Buyer's behalf. This mitigation service is subject to a 30% consignment commission deducted from the gross resale proceeds.
4.5 Waiver of Remedy: Failure to communicate an inability to remove property prior to the official deadline results in the immediate and irrevocable waiver of the consignment resale option, culminating in total asset forfeiture as outlined in Section 4.3.

5. Release of Liability and Indemnification
5.1 Total Absolution of Liability: The Buyer's acceptance of these terms completely absolves, releases, and indemnifies Fountain City Auction, its officers, employees, and clients from any and all liability, claims, demands, or causes of action whatsoever. This includes, but is not limited to, claims for personal injury, property damage, or financial loss arising from the Buyer's presence on the premises, participation in the auction, or the handling and purchase of auction assets.

6. Firearms & Regulated Items
6.1 Legal Compliance & Jurisdiction
All firearm transactions conducted by Fountain City Auction are governed strictly by federal law, the Gun Control Act of 1968 (GCA), the National Firearms Act (NFA), and the laws of the State of Tennessee, specifically Tennessee Code Annotated (T.C.A.) Title 39, Chapter 17, Part 13. Bidding on any firearm lot constitutes an explicit agreement to comply with all applicable municipal, state, and federal laws.
6.2 Buyer Age & Eligibility
Bidders must meet all statutory qualifications prior to placing bids:
Long Guns (Rifles & Shotguns): Purchasers must be at least 18 years of age.
Handguns & Other Firearm Receivers: Purchasers must be at least 21 years of age under federal law. Prohibited Persons: Any individual prohibited from purchasing or possessing firearms under 18 U.S.C. § 922(g) or T.C.A. § 39-17-1307 (including convicted felons, individuals convicted of domestic violence misdemeanors, or those subject to active orders of protection) is strictly prohibited from bidding.
Straw purchases-bidding on behalf of an ineligible third party-are illegal under federal and state law and will be reported to law enforcement immediately.
6.3 In-Person Transfers & Background Checks
For local pickup in Tennessee:
Background Checks via TICS: All transfers conducted on-site require ATF Form 4473 and clearance through the Tennessee Instant Check System (TICS), administered by the Tennessee Bureau of Investigation (TBI).
Background Check Fee: Bidders are required to pay a $20 fee for all background checks. Carry Permits: A valid Tennessee Concealed or Enhanced Handgun Carry Permit does not exempt a buyer from the mandatory TICS background check under federal Brady Law requirements. Delayed / Denied Status: If a background check returns a "Delayed" status, the firearm will not be released until an explicit "Proceed" is issued or the statutory waiting threshold has passed at the sole discretion of Fountain City Auction. If a buyer receives a "Denied" status, the firearm will not be released under any circumstances. Sobriety: Pursuant to T.C.A. § 39-17-1303, no firearm will be transferred to any individual who appears intoxicated or under the influence of drugs or alcohol.
6.4 Out-of-State Buyers & Shipping
FFL Requirement: Under federal law, handguns and long guns purchased by out-of-state residents cannot be transferred in person unless compliant with interstate commerce rules. All firearms won by out-of-state bidders must ship directly to a licensed Federal Firearms Licensee (FFL) in the buyer's home state. License Verification: The buyer must arrange for their designated receiving FFL to transmit a signed, valid copy of their license to Fountain City Auction within seven (7) business days of auction close. State Restrictions: The buyer assumes full responsibility for ensuring the lot complies with all state and local laws in the destination jurisdiction (e.g., magazine capacity restrictions, assault weapon bans). Fountain City Auction will not alter or modify magazines or firearms to meet destination compliance.
6.5 Failed Background Checks & Default
If a winning bidder receives a "Denied" status from TICS or is otherwise legally prohibited from taking possession of a firearm:
Appeal Period: The bidder is granted fourteen (14) business days from the date of denial to initiate and resolve an appeal with the TBI TICS Unit.
Default & Cancellation: If the denial is not overturned within fourteen (14) business days, the transaction will be deemed canceled due to buyer default.
Restocking & Liquidation: Upon cancellation, the firearm remains in company inventory and will be re-auctioned or liquidated at the sole discretion of Fountain City Auction. The defaulting bidder will be assessed a 25% restocking fee (calculated from the total hammer price and buyer's premium), any accrued vault storage fees ($5.00/day after 14 days), and the non-refundable $20 background check fee. Any remaining funds will be refunded to the original payment method.
Permanent Suspension: Any bidder who causes an unresolved TICS denial will be permanently suspended from bidding on regulated items with Fountain City Auction.
6.6 Curio & Relic (C&R) and Antique Firearms
Antiques: Firearms manufactured in or before 1898 that do not use fixed, readily available centerfire ammunition generally qualify as antiques under federal and Tennessee definitions and may be transferred without a 4473/TICS background check, subject to identity and age verification. C&R Licenses: Holders of an active ATF Type 03 Curio & Relic license may acquire qualifying C&R items directly, provided the items qualify under federal listings and the licensee presents valid identification.
6.7 Condition, As-Is Disclaimer & Safety Inspection
All firearms are sold "AS IS, WHERE IS" with no warranties, express or implied, including warranties of merchantability or fitness for a particular purpose. Descriptions, catalog notes, and visual documentation serve as guides only. Fountain City Auction does not test-fire or certify the mechanical safety of any firearm. The buyer is solely responsible for having every firearm inspected by a certified gunsmith before firing.

Another great firearms auction brought to you by Fountain City Auction! Factory Original Smith & Wesson Model 1905, Rare Colt Pre-Woodsman, Rifles, Pistols, Blackpowder, Ammo, Knives, Hunting Items, Accessories and so much more! Saturday, September 26, 2026 @ 2:00 P.M. EDT Online only! Happy bidding!