Auction Terms

This auction is conducted by Summit Auction House, an independent affiliate. K-BID.com is the online venue only.

All lots sold as-is, where-is, with no warranties, express or implied. Descriptions and photos are believed accurate but are not a substitute for inspection. If a defect is listed, it may not be the only defect.

Bids are binding and cannot be retracted. A buyer’s premium of 15% (capped at $1,500 per lot) is added to the hammer price. Applicable Minnesota sales tax will be collected.

Winning bidders must pay the invoice and remove lots within 3 days after the auction closes. Failure to pay or pick up may result in default, loss of the item, and loss of bidding privileges.

Inspection is by appointment before close. Bids are binding. Winning bidders who refuse a lot that matches the description and photos remain responsible for the invoice. Removal is not an inspection. Change of mind is not grounds for a refund.

	Buyer's Premium	Cap
	15.00%	$1,500.00

Auction Terms Addendum

This auction is contracted and managed by an independent auctioneer. By placing a bid, you agree to both the auction-specific terms listed on this page and the K-BID User Terms and Agreements.

Platform Role
K-BID Online, Inc. (“K-BID”) operates and maintains K-BID.com as a venue for independent auction companies to conduct online auctions.
They are independent entities and are not employees, agents, or representatives of K-BID. K-BID’s knowledge of individual auctions is limited to the information provided on the website.

Bidder Responsibilities
By placing a bid, you confirm that you are at least 18 years old and agree to comply with all applicable terms.

Bidders are responsible for all activity under their account.
Account information and passwords must not be shared.
All bids are binding and may not be retracted.

Inspection & Removal
Inspection dates and times are provided for every auction. Bidders are strongly encouraged to inspect items prior to bidding.
Removal day is not an inspection day.
Once an auction closes and an invoice is issued, the winning bidder is obligated to complete the purchase.

Item Condition
All items are sold “as is, where is,” with no guarantees or warranties. Buyers are responsible for their own due diligence.

Buyer’s Premium
If applicable, Buyer’s Premium caps are applied per item, not per invoice.

Auction Process

Items with a reserve will not sell unless the reserve price is met.
Reserves may be lowered at any time at the independent auction company's discretion:
- During the auction: updated reserve status will be displayed.
- After closing: the highest bidder may be awarded the item if the reserve is lowered.
At closing, items with active bidding will remain open until no bids are received for three (3) minutes.
Outbid notifications are not sent once an item enters the closing process.

Compliance & Enforcement
Failure to comply with auction terms, including removal requirements, may result in suspension of bidding privileges.

If bidding privileges are suspended due to unpaid invoices:

Reinstatement is at K-BID’s discretion
Requires payment of:
- 20% penalty on unpaid invoice(s)
- $25 reinstatement fee
A valid government-issued ID must be provided
Unpaid items will not be awarded

Duplicate accounts will be deactivated. Suspected fraudulent activity may result in bid removal, account holds, or permanent suspension. K-BID reserves the right to refuse service to any user and may refer fraudulent behavior to appropriate authorities.

Seller Conduct
Sellers and their agents are strictly prohibited from bidding on their own items.

Sales Tax
Applicable sales tax will be collected by the independent auction company managing the auction.