Picos Restaurant Equipment - Online Auction
Closes September 23, 2026 at 9:00 AM CT
Auction Location: Former PICOS, 3601 Kirby Dr., Houston, TX 77098

AGREEMENT BETWEEN BIDDER AND AUCTIONEER
AKA TERMS AND CONDITIONS
READ CAREFULLY AND COMPLETELY AS ALL AUCTIONS ARE DIFFERENT

These are the Terms and Conditions of Sale for this online auction. They consist of this introduction and nineteen numbered paragraphs that outline the relationship between you ("the Bidder") and Jones Swenson Auction Marketing, Inc. DBA Jones Swenson Auctions ("Auctioneer").

If you want to bid in this online auction, you will first have to certify that you have read, understood, and agreed to these Terms and Conditions. Such certification will function as your legal and binding electronic signature. If you choose to make this certification, these Terms and Conditions will become binding both on you and on the Auctioneer, and all parties will be expected to abide by the Terms and Conditions if any issues arise in connection with this sale. Any bidder who does not provide all of the information requested during registration or who provides a non-working phone number or email address will have their bidding privileges revoked.

Inspection / Preview time: Tuesday September 22, 2026, from 10am to 2pm only.

1. This is a Public Online Auction. By registering to bid in this auction, you acknowledge and agree to these terms and conditions. Lots begin closing in numerical order at 9:00 AM on September 23, 2026 and will close one lot every 30 seconds, with extended bidding in effect. This is also known as a soft close. Bidders must provide a valid credit card to register to bid online.

2. Payment will be processed immediately after the last lot is sold on September 23 with the credit card buyer submitted at registration, unless the invoice is over $2,000.00 or the buyer has made alternate payment arrangements PRIOR to the end of the auction by contacting Auctioneer at 512-261-3838 or email: info@JonesSwenson.com), or if the buyer is from out of state. If credit card does not go through and buyer cannot be reached by cell phone within one hour, Auctioneer reserves the right to resell the items to the back-up bidder without notice. At the close of the auction, buyers will receive an "unpaid" invoice. Once credit cards are run or a wire transfer is received, an email confirmation & paid invoice will be emailed to buyer confirming process of payment. BRING YOUR PAID RECEIPT WITH YOU TO PICK-UP YOUR PURCHASES. Payment can be made by VISA, MC, Discover, wire transfer, bank ACH transfer or by cash. OUT OF STATE buyers will be required to pay by wire transfer or bank ACH transfer within 24 hours after the auction ends. Buyers should be available by cell phone (or other phone number provided at registration). Payment must be received by 2:00 PM on the day following the close of the auction. If you plan to pay with a wire, start it as soon as possible. If you want to pay with cash, you will need to pay at the auction site on the first day of removal (September 28th). A paid invoice will be required to remove purchases. No items may be removed until payment is made in full.

3. Buyer's Premium: An eighteen percent (18%) buyer's premium will be charged on invoices paid by credit card (VISA, MC, Disc.) and a fifteen percent (15%) Buyers' Premium will be charged on invoices paid by wire transfer, cash, or ACH Bank Transfer.

4. Texas Sales tax will be charged unless the buyer has provided a signed Sales Tax Resale Certificate or Exemption Certificate for this auction. Prospective buyers MUST email their signed resale form prior to the end of the auction to info@JonesSwenson.com. NOTE: Texas Law requires the sales tax to be collected on the total price which includes the buyer's premium.

5. Removal: Monday September 28 and Tuesday September 29 by appointment. If you cannot remove your purchases within this timeframe, do not bid. Auctioneer does not provide assistance with loading or shipping. Bring whatever equipment (especially dollies and tools) and personnel that you need for removal. Bring your paid receipt for removal. Anything remaining after removal time will be considered abandoned. The Auctioneer is not obligated to issue you a refund if you are unable to pick up and remove your items during the published removal times. Please come prepared to load your purchases and disconnect plumbing or electrical. Please plan accordingly.

6. Everything is sold "As-Is": All items in the auction are being sold, "as is, where is" without warranties or guarantees of any type and with all faults. AUCTIONEER AND SELLER EXPRESSLY DISCLAIM AND EXCLUDE THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. Bidders should rely solely on their own inspection of all items prior to the sale and should satisfy themselves as to the usefulness and value of each item. Any statement in the description regarding the items to be sold should be considered a limited guide only. Any error in description does not relieve the buyer or his/her agent of their responsibilities to inspect. There are NO REFUNDS OR RETURNS.

7. Bidder's Duty to Inspect and Investigate: Bidder acknowledges that the Auctioneer is providing them with the opportunity to inspect the items being offered for sale in this auction. The Auctioneer strongly encourages bidders to attend the scheduled inspection for this auction, which will take place on the dates listed above. If you choose not to attend the scheduled inspection or are in doubt about the condition, completeness, or suitability of a given item, please bid accordingly. Please keep in mind that this equipment can have components come loose due to vibration when transported. Repairs for such matters are at the buyer's expense. No claims will be allowed after removal of goods from premises.

8. Choose Wisely: We want everyone to get a good deal and most will. However, when you bid on the wrong item or decide an item is not suited for your intended use, our sellers will not assume the cost of your mistakes.You agree that your failure to inspect or otherwise become fully informed about the items offered for sale in this auction will not be grounds for a refusal to pay amounts due, nor for any claim against the Auctioneer.

9. Buyer is Responsible: Seller, Auctioneer and Buyer expressly agree that Buyer is responsible for and agrees to indemnify Seller, Auctioneer and their respective affiliates for any and all damages (whether based on contract, tort, warranty, negligence, strict liability or any other legal theory, and including special, incidental and consequential damages), losses, expenses, attorneys' fees, court costs, etc., that arise out of or result from the removal, possession or use of any items purchased at this auction, or any other claim regarding the use or possession of any asset purchased at this auction.

10. Charge-backs Prohibited: As a bidder, you agree that you will accept all charges placed on the credit card associated with your account, and you agree that you will not charge back any amount that the Auctioneer charges to your credit card. You agree that this provision applies equally to amounts charged in connection with any items you have won and any buyer's premium or sales tax applicable.

11. Default and Resale: You agree that if, after being declared the winning bidder, you fail to pay for any item that you have won for any reason, your account will be declared in default. If you still fail to pay for any item after being notified of your account's being in default, you agree that the Auctioneer will have the right to immediately resell your item, and you further agree to pay (a) any cost associated with the resale and (b) any deficiency between your original purchase price and the resale price. Non performing buyers will be reported to HiBid.

12. Disposal of Unclaimed Items: In the event you refuse to pay for or abandon any item that you win at auction, the Auctioneer will have the option of reselling, removing, storing, or disposing of the unpaid-for or abandoned item. You understand and agree that you will be personally responsible for all deficiencies - and all legal, collection, transportation, and storage expenses - associated with your delinquent account and/or abandoned items. In the event of resale, you agree to pay any cost associated with the resale as well as any deficiency between your original purchase price and the resale price.

13. Suspension of Bidding Privileges: You understand and agree that any violation of these Terms and Conditions - and/or any unsafe or illegal activity during any auction-related event - may result in the Auctioneer's suspending your online bidding privileges indefinitely. Nothing in this paragraph will limit the Auctioneer's right to any other remedies at law or in equity.

14. Internet Problems: Auctioneer and Seller are not responsible for any internet connection problems that may occur during the auction. Bidders should understand that sometimes internet connection or delay problems do occur. Auction lots will not be re-sold or brought back up for bidding because of internet problems. If you have issues with placing bids, please contact HiBid Customer Service directly (352) 414-1947.

15. Missing Items: In the event an item sold in the auction is found to be missing or it is determined that an items cannot be legally sold, prior to removal, the Auctioneer/Seller will only be responsible for the refund of the purchase price, buyer's premium and any sales tax. Buyer agrees that the only compensation due them will be the refund of actual money paid.

16. Claims and Choice of Venue: Any claim or controversy arising out of or relating to these Terms and Conditions, or to any breach thereof, will be resolved exclusively by a state court having jurisdiction in Travis County, Texas, or in the Federal District Court for the Western District of Texas, where federal jurisdiction exists. Each party hereby submits to the jurisdiction and venue of such courts.You agree that all claims instituted by you will be litigated on an individual basis, and will not be consolidated with any claim made by another party. You agree that any judgments awarded may be applied to and collected from you personally or corporately. Should you file an action contrary to this paragraph, the defending parties may recover reasonable legal fees and costs. Further, if you bring a claim against the Auctioneer and do not prevail, and/or if the Auctioneer takes action against you as a result of your violation of these terms and conditions and is the prevailing party, you agree that you will reimburse the Auctioneer for all reasonable legal fees and costs including reasonable attorney's fees.

17. Agency: The auctioneer is acting as agent only and is not responsible for the acts of its principals.

18. Auction Notifications: Bidders agree to receive future emails and/or SMS notifications of future auctions. They may unsubscribe from messages at any time.

19. Auctioneer's Rights, Entire Agreement & Updates:Auctioneer reserves the right to alter these terms & conditions at any time prior to the close of the auction. Auctioneer also reserves the right to add or withdraw any items in the auction prior to the close of the sale. Notice will be given to bidders via the online catalog. These Terms and Conditions contain the entire agreement between the Auctioneer and the Bidder and supersede any prior oral or written agreements relating to the same subject matter. Please monitor the auction info page on JonesSwenson.com for up to date information and notices regarding this auction.
For questions, please contact auction office: (512)261-3838 or Info@JonesSwenson.com

The well known Picos Restaurant in Houston is moving. This is a complete liquidation of the restaurant equipment, furniture and decor. Don't miss this opportunity to buy nice restaurant & bar equipment at your price!