| Terms and Conditions Please
take a minute to read this information on how to buy and sell at all Ken
Porter Auctions. If you need further information please contact one of
our sales representatives or any of the auction management staff or call
Ken Porter Auctions at (310) 353-7140.
Ken Porter Auctions proposes to act as auctioneer
for the completion of a transaction between buyer and seller. KPA does not
assume responsibility for omissions or the failure to make any announcements
on the auction block. Remember that you are buying in a “wholesale”
market and should not expect any retail guarantee of any kind.
How to Buy
| 1. |
Visit the office to sign up for a buyer’s card.
Vehicles cannot be purchased without a buyer’s card. A $500 refundable
deposit is required to receive a buyer’s card and the right to
bid on vehicles at a Ken Porter Auction. If you are the winning bidder
on a vehicle or item, your $500 deposit will be applied towards the purchase.
Buyers must be at least 18 years old. |
| 2. |
There is an “Annual Bidder Registration” program that
you may qualify for. Please inquire at the bidder registration office
for more details, or call the KPA administrative offices at (310) 353-7140. |
| 3. |
Know what you are bidding on. Please examine vehicles carefully before
bidding. Vehicles may be inspected 9 AM to 5 PM Thursday and Friday prior
to the sale, and from 7 AM to 9:30 AM Saturday morning of the sale. |
| 4. |
Windshield Information – The following is written on all windshields:
(DO NOT USE THIS INFORMATION FOR THE PURPOSES OF DETERMINING VALUATION
OR ESTABLISHING YOUR BID AMOUNT. BUYERS MUST VERIFY ALL INFORMATION PRIOR
TO BIDDING)
a. Auction run number
b. Year
c.
Make and Model |
| 5. |
Listen carefully to all announcements made by the auctioneer. Familiarize
yourself with all sections of these Terms & Conditions. When bidding,
be sure to raise your hand in a manner that allows the auctioneer to
see your bid. |
| 6. |
Know what you are bidding on before you bid. For example do not bid
on a vehicle with a manual transmission if you can only drive an automatic,
or a vehicle with 100,000 miles on it when you want to buy a vehicle
with 50,000 miles on it. Be sure the vehicle being offered for sale is
the same vehicle you want to bid on. Remember once you win the bid on
a vehicle you own it. |
| 7. |
Subject to the seller’s approval or “on a phone call”,
means the last bidder is legally obligated to purchase the vehicle. |
| 8. |
Vehicles are not guaranteed to pass state smog inspection where applicable.
|
| 9. |
Vehicles purchased “on approval”, will not be released
to the buyers unless and until the seller notifies KPA of the acceptance
of the highest bid. In some instances it may take up to two business
days after the sale to receive this notification from the seller. |
| 10. |
If you are the successful bidder please complete the following steps:
A.
|
Proceed to the buyer’s window in the KPA office
to pay your 25% deposit and sign all necessary documents to complete
the purchase transaction. This deposit will hold your vehicle until
5 PM at the end of the following business day. Vehicles not paid for
by 5 PM the following business day will be resold and you will forfeit
your deposit. |
| B. |
To complete your purchase simply pay the remaining balance owed
for the vehicle. A buyer’s fee of 15% will be added to every
lot sold unless otherwise announced prior to the sale. A documentation
fee of $55 will be charged if a title is necessary for transfer or
a $15 fee on all other lots. Additionally all applicable
DMV/Registration fees will be charged as well as a smog fee and sales
tax. Vehicles cannot be removed from the auction property until payment
is received in full. There are no exceptions. |
| C. |
The following forms of payment are accepted: cash, cashiers check,
certified checks, money orders, traveler’s checks, and credit
cards. |
|
| 11. |
Your receipt showing full payment along with a “gate pass”
must be presented in order to remove your purchase from the Ken Porter
facility. |
| 12. |
Once the vehicle has been paid for all sales are final. Remember -
you must remove your vehicle from KPA no later than 5 PM the following
business day after the auction or a storage fee of $25 per day will apply. |
No Tampering
Any person caught tampering with or removing equipment,
parts, or keys from any vehicle will be subject to suspension from the
auction and potential criminal prosecution. KPA will not be responsible
for lost or stolen keys, radios, and / or accidents, damage or vandalism.
Odometer Policy
Ken Porter Auctions does not guarantee the accuracy
of the odometer reading on any consigned vehicle.
Vehicle Information
Buyers are solely responsible for verifying year, make,
model, equipment and serial numbers before leaving the auction premises.
Upon removal of the vehicle from the KPA premises, buyer has waived any
objection to title information discrepancies.
Titles
Vehicles purchased with a buyer’s card will be
titled and registered to the name listed on the buyer’s card. A $25
fee will be charged for any name change made after a bid is accepted and
a vehicle is purchased.
Buyer may elect to handle vehicle registration and transfer
directly.
Outside Sales
All vehicle purchased must be paid for through
the auction, even if bought directly from the seller, or if bought “off
the auction block”. All vehicles are sold “AS IS”.
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