As per AllBids terms & conditions, property not sold shall be reclaimed within ten days following notification by ALLBIDS On-Line Auctions. Property remaining after 10 days will be subject to storage charges of $5.00 per day per lot. All charge must be paid before the property will be released. ALLBIDS On-Line Auctions reserve the right after an additional 20 days to resell the property unreserved.
ALLBIDS charges a Buyer’s Premium on the final price of all auctions. The Buyer’s Premium is a percentage of the winning bid price, which is paid to ALLBIDS as an auctioneer’s fee.The Buyer’s Premium differentiates the auction market from the retail market as buyers are allowed to set their own price. The Buyer’s Premium may vary and usually relates to the extra costs that may be incurred when handling certain items.So if the winning bid (Bid Price) is $50 and it has a 15% Buyers Premium, then the buyer will be invoiced $57.50
The Vendor grants ALLBIDS On-Line Auctions the exclusive right to sell his / her or its property at public auction. ALLBIDS On-Line Auctions will decide the auction at which the property will be auctioned. ALLBIDS On-Line Auctions may divide or combine the property into one or more separate lots. ALLBIDS On-Line Auctions will incur no liability for the postponement of any auctions for any reason. ALLBIDS On-Line Auctions is not responsible for items left with ALLBIDS On-Line Auctions that do not appear on the asset list supplied to ALLBIDS On-Line Auctions. Any items left with ALLBIDS On-Line Auctions that do not appear on an asset list are to be removed from the premises or the Vendor will be charged storage fees, deductible from future Vendor payments.