Pirouzan Rugs Going Out of Business Auction

Conditions of Sale -- 1. All property is sold "AS IS", and neither the auctioneer nor any consignor makes any warranties or representations of any kind or nature with respect to the property, and in no event shall they be responsible for the correctness, nor deemed to have made any representation or warranty, of description, genuineness, authorship, attribution, provenance, period, culture, source, origin, or condition of the property and no statement made at the sale, or in the bill of sale, or invoice or elsewhere shall be deemed such a warranty of representation or an assumption of liability. 2. Except as provided in paragraph 4 below, the highest bidder as determined by the auctioneer shall be the purchaser. In the case of a disputed bid, the auctioneer shall have sole discretion in determining the purchaser and may also, at his or her election, withdraw the lot or re-offer the lot for sale. 3. All merchandise purchased must be paid for and removed from the premises the day of the auction. American Rug Liquidation, and its affiliate, may impose, and the purchaser agrees to pay, a monthly storage charge of 1.5% of the purchase price of any lot or portion of a lot not removed by the purchaser within three (3) business days after the date of sale. American Rug Liquidation shall have no liability for any damage to property left on its premises for more than three (3) days after the date of sale. At the option of American Rug Liquidation, the merchandise may be transferred to and stored at a bonded warehouse and the purchaser agrees to pay all transfer and storage expenses. American Rug Liquidation may impose, and the purchaser agrees to pay, a monthly interest charge of 1.5% of the purchase price of any lot or item not paid by the purchaser within thirty-five (35) days of the date of sale. 4. Some of the lots in this sale are offered subject to a reserve. The reserve is a confidential minimum price agreed upon by the consignor and American Rug Liquidation below which the lot will not be sold. In most cases, the reserve will be set below the estimated range, but in no case will it exceed the estimates listed. A representative of American Rug Liquidation will execute such reserves by bidding for the consignor. In any event and whether or not a lot is subject to a reserve, the auctioneer may reject any bid or raise not commensurate with the value of such lot. 5. American Rug Liquidation accept Visa, Master Card, American Express, Discover, cash or check for payment. Personal checks will be acceptable only if credit has been established with American Rug Liquidation, or if a bank authorization has been received guaranteeing a personal check. American Rug Liquidation reserve the right to hold merchandise purchased by personal check until the check has cleared the bank. The purchaser agrees to pay American Rug Liquidation a handling charge of $25.00 for any check dishonored by the drawee. 6. If the purchaser breaches any of its obligations under these Conditions of Sale, including its obligation to pay in full the purchase price of all items for which it was the highest successful bidder, American Rug Liquidation may exercise all of their rights and remedies under the law including, without limitation, (a) canceling the sale and applying any payments made by the purchaser to the damages caused by the purchasers breach, and/or (b) offering at public auction, without reserve, any lot or item for which the purchaser has failed to pay in full the purchase price, holding the purchaser liable for any deficiency plus all costs of sale. 7. In no event will the liability of American Rug Liquidation to any purchaser with respect to any item exceed the purchase price actually paid by such purchaser for such item. 8. Shipping is the responsibility of the purchaser. Upon request, our staff will provide the list of shippers who deliver to destinations within the United States and overseas. Some property that is sold at auction can be subject to laws governing export from the U.S., such as items that include material from some endangered species. Import restrictions from foreign countries are subject to these same governing laws. Granting of licensing for import or export of goods from local authorities is the sole responsibility of the buyer. Denial or delay of licensing will not constitute cancellation or delay in payment for the total purchase price of these lots. 9. All lots are sold subject to a State sales tax and any additional applicable local taxes unless a resale number is given or shipped out of state by common carrier. 10. With respect to property purchased on Live Auctioneers, a premium equal to 10% of the final bid price will be applied to each lot sold, to be paid by the Buyer as part of the purchase price. 11. Bidders are required to register prior to the sale and must use the number issued to them when they are the successful bidder. No transfer will be recognized from one buyer to another. 12. Bidding on any item indicates your acceptance of these terms and all other terms announced at the time of sale whether bidding in person, through a representative, by phone, by Internet, or other absentee bid. 13. All damages/discrepancies must be reported within 72 hours of receipt of merchandise or claims will not be processed. 14. These conditions of sale shall be governed by the laws of New Jersey (excluding the laws applicable to conflicts or choice of law). The buyer/bidder agrees that any suit for the enforcement of this agreement may be brought, and any action against American Rug Liquidation in connection with the transactions contemplated by this agreement shall be brought, in the courts of New Jersey or any federal court sitting therein. The bidder/buyer consents to the nonexclusive jurisdiction of such courts and waives objections that it may now or hereafter have to the venue of any such suit. -----

Local Taxes Apply