Catalog

• All Items (2)
• Personal Autos & Pickups (2)

Catalog

Highlights:

• 2001 FERRARI 360 Modena Spider
• 2003 LINCOLN Navigator

Terms & Conditions

Seller reserves the right to remove items from auction at any time prior to invoices being sent.

ALL ITEMS ARE SOLD AS-IS, EX-SITE, AND WITH ALL FAULTS

*Payment Due by March 9, 2010 - Acceptable Methods of Payment are Certified Checks and Cashiers Checks Made out to Asset Auctions LLC; Wire Transfers and Cash. (CREDIT CARD PAYMENTS ARE NOT ACCEPTED).
(Cash Payments may be made at any Bank of America Branch in Tennessee- for Cash Payment Instructions Click Here).

*This Auction Carries a 3.5% Buyer's Premium.

*Information has been obtained from sources deemed reliable, Bidders should avail themselves of the opportunity to inspect the items for sale.

Additional Terms:
*All Items are being offered AS-IS. It is the buyer’s responsibility to inspect equipment. No refunds will be made for any reason. It is the responsibility of the buyer to assess equipment condition and specifications to their satisfaction prior to bidding.

*Descriptions have been obtained from sources believed to be reliable, however prospective buyers are strongly encouraged to inspect the property. Seller does not guarantee accuracy of descriptions.

Payment Information and Wire Information will be sent with your invoice. Wire Transfers initiated from banks outside of the United States are subject to a $35 charge. Payments may NOT be made at the auction locations – All Payments must be sent to the address provided on your invoice

*All items must be removed by March 9, 2010, 3:00 PM.
*Buyer Must Arrange for Loading. Contact the property custodian for dates and times that the property can be removed. Buyer is completely responsible for all removal requirements.

*Buyer’s who fail to complete their purchase may be precluded from participating in future sales.

*Items not picked up by March 9, 2010, 3:00 PM will be considered abandoned.

ALL BIDDERS AND OTHER PARTICIPANTS IN THIS ONLINE AUCTION DO HEREBY CERTIFY THAT THEY HAVE READ AND FULLY UNDERSTAND THESE TERMS AND CONDITIONS AND THAT THEY AGREE TO BE BOUND THEREBY.

According to T.C.A. 12-2-412, “It is hereby declared unlawful for any state official or employee to purchase from the state except by bid at public audit or by Internet auction, using a personal computer on personal time, any surplus property during the tenure of such person’s office or employment, or for six (6) months thereafter.

You (the buyer) must be registered and in good standing with the online auction vendor and with the State of Tennessee.

IT SHALL BE UNLAWFUL FOR ANY STATE, CITY OR COUNTY OFFICER, EMPLOYEE OR HIS/HER AGENT DIRECTLY OR INDIRECTLY INVOLVED IN THE CONFISCATION OF SUCH PROPERTY TO BUY OR OFFER TO BUY ANY OF THE SEIZED OR CONFISCATED PROPERTY TO BE SOLD HEREUNDER. TCA 12-2-208B

ALL property offered for sale is AS-IS and WHERE-IS with no warranty or guarantee OF ANY TYPE. NO SALE WILL BE SET ASIDE BECAUSE OF ANY ERRORS IN THE DESCRIPTION. Inspection of the property before bidding is strongly encouraged. Property Utilization is only the agent for the disposal of items that are surplus to State requirements. Division personnel do not inspect or operate any of the property offered for auction. Releasing agencies are responsible for reporting known defects in their property to Property Utilization. If defects have been reported to Property Utilization, this information will be included in the description provided in the auction listing. VERBAL ASSURANCES AS TO QUALITY OR CONDITION SHOULD NOT BE RELIED UPON AND WILL NOT BE BINDING UPON THE STATE OF TENNESSEE.

CONFISCATED and/or SEIZED property will be identified as such. If the property requires licensing or registration, please be aware that the ONLY documentation that can be provided is a copy of the court order awarding custody to the State of Tennessee and a bill of sale. TITLES FOR CONFISCATED VEHICLES ARE NOT AVAILABLE. If your place of residence requires further documentation it is YOUR responsibility to acquire the necessary information.

VEHICLE-SPECIFIC INFORMATION: TITLES will be filled out in the name of the purchaser unless otherwise directed. ALL titles will be endorsed – no open titles will be issued. No temporary tags (“drive-out tags”) can be issued. TITLES FOR CONFISCATED VEHICLES ARE NOT AVAILABLE.

Payment for property bid on and awarded must be PAID FOR IN FULL TO THE CONTRACT VENDOR AND REMOVED WITHIN TEN (10) STATE BUSINESS DAYS FROM THE DATE OF ELECTRONIC AWARD, UNLESS AN EXTENSION IS GRANTED BY THE PROPERTY CUSTODIAN. Failure of the bidder to submit payment or failure to remove all items WILL result in the bidder being blocked with no notification.
SUCCESSFUL BIDDERS ARE RESPONSIBLE FOR LOADING AND REMOVAL OF ANY AND ALL PROPERTY AWARDED TO THEM FROM THE EXACT PLACE WHERE THE PROPERTY IS LOCATED. The purchaser will lose all right, title and interest to the property if it is not removed by the REMOVAL DATE as established by the State of Tennessee. THERE WILL BE NO REFUNDS GRANTED IF THE PROPERTY IS NOT PICKED UP IN A TIMELY MANNER. The successful bidder will be responsible for any damages to the premises of the State of Tennessee resulting from removal of the property. The State of Tennessee will not be responsible for packaging or preparation of property for shipment. THE PURCHASER WILL NOT PARTIALLY REMOVE LOTS.

The Commissioner of the Department of General Services reserves the right to reject any and/or all bids considered as not in the best interest of the State of Tennessee. The Commissioner also reserves the right to withdraw an item at any time – including during the bidding process.

Insurance Requirements
Buyers are required to comply with any safety or removal requirements sent forth by the seller.

Asset Removal:
Buyer is required to remove all items in the lots purchased. All removal shall be at the expense, liability and risk of the Buyer. If the Buyer does not remove an item within the stated removal period, Asset Auctions and the Seller may, at their sole discretion, deem the Asset to have been abandoned by the Buyer and the Buyer will have no further rights with respect to the Asset. In most cases Buyers, outside contractors, including riggers and machinery movers, will not be allowed to work on the Seller's premises until they have provided proper insurance, protecting Asset Auctions, the Seller and the landlord from all and any claims resulting from their actions.

Auctioneers Note:
Both Asset Auctions and the Seller want all of our buyers to feel they have been treated fairly and pay a fair price for the items based on their condition. Please do not enter a bid at a price that is greater than you are comfortable paying for any individual item based on it's condition. There will be no adjustments to the final bid price after the bidding closes.

All items are being sold AS-IS. Any notes or descriptions are for information only. You need to make your own decisions based on your own observations. Items often sell at very reasonable prices but sometimes need minor to major mechanical and/or cosmetic work. If you are wanting to have a high level of confidence you MUST inspect for yourself and make decisions based on this inspection. We strongly urge you to inspect on the preassigned inspection dates that will be posted on our website. There will be no adjustments to the final bid price should you find any problems with the item after the bidding closes.

Clint Francis at 724.630.6615

Inspection: By appointment only, see lot detail for contact information.
Payment Deadline: March 9, 2010
Removal Deadline: March 9, 2010