liquESTATE is a DBA of The Auction Group, LLC.
Client / Seller Policies
We will look at the items you would like to sell during a free consult. We will discuss your timeline for selling and the options available.
Cataloging entails a cataloger photographing everything for sale and creating a detailed inventory that will act as the online inventory offered to bidders. Because we are simultaneously opening and closing 3-4 online auctions per week, we currently average over 30,000 views per auction and have a registered bidder base of over 7000 customers. Our bidder base continues to grow with every sale and this translates into more bidders for each auction which helps drive prices per item to the best fair market value.
Inventory and Reserves
You will receive the inventory by email upon completion of cataloging. If you will be placing any reserves this is the time to indicate the amount of each reserve. Reserves are the minimum amount you would like an item sold for otherwise keep the item if the reserve is not met. However, if you will be placing reserves, we will want to know what items and the reserve amount before beginning cataloging to ensure we can meet your expectation of reserves. Please keep in mind when placing reserves, once a reserve is placed in the software, the item will not sell unless and only if at least the exact amount of the reserve is met. If you are placing reserves, we cannot begin the auction online until we have the list of reserves. If you are not placing any reserves on any property for sale please indicate that as well so that we may move forward with online auction immediately upon completion of cataloging. Please note and this is very important, once items have been cataloged we ask that you please do not remove any items from the inventory. Please take the time leading up to our cataloger arriving to determine what is and is not for sale and to clearly mark items so that there is no confusion and so that nothing gets cataloged that you do not want to sell.
Once your sale is closed online, we will process all credit cards and generate Paid Invoices for the sold property and at that time the winning bidders will receive the address for pick up. The only people that will be given the address for the pick-up are customers that have successfully paid for the items they won online. The address is never given to the general public or to anyone who has not successfully registered, bid, won, and paid for items in our auction.
Dispersing Sold Property
Our team will manage the pick up of all sold property and do it in a manner that is not intrusive to your home or space and in an expedient manner. All items that can be bagged or boxed will be given to customers at the door and no one enters the home except to move heavy or large furniture and is escorted by a member of our team. Pick-up dates are scheduled in advance of the online auction being published and are a mutually agreed upon date & time. The typical pick-up dates would be on a weekend with a 3 or 4 hour time window. Any unsold property will remain on the premises and will coordinate with the list of unsold property that you will receive at the close of the auction via email. If you would like remaining and unsold items removed from your home, please let us know prior to your sale beginning so that we can arrange this.
We offer shipping and delivery and we handle this and deal directly with the customer.
You will receive your Settlement Check and your final Inventory that includes all prices realized within 30 business days of the close of the auction. The settlement is based on the percentage agreed upon in your contract. Prices realized are based on the finial selling price of your items that are sold.
The online auction process is very transparent and you can monitor and watch bidding throughout the week, but the most action takes place the last day and the exciting stuff happens as the auction begins closing. We encourage you to watch at Liquestate.com and we encourage you to visit the site regularly so that you understand what your online auction will look like.
Buyer / Bidder Policies
Registering to Bid in Auction
No deposit is required to register for an auction, however, a credit card is required to register. Your credit card will not be charged unless you win in an auction.
All invoices must be paid within 24 hours of the close of an auction. The credit card used to register will be charged for the full amount of the invoice unless alternate arrangements have been made prior to the close of the auction.
A buyer premium of 17% of the bid price will be added to the price of each item purchased. Taxes are calculated AFTER the buyer’s premium. Buyer’s premium is a common auction practice to cover the costs of admin fees.
All invoices must be paid in full before merchandise will be released from the premises. Quantities must be checked before the removal of purchases. No allowances will be made for claims or shortages once items are removed from the premises. Where available, documents of transfer, including motor vehicle ownership documents, will be provided within 7 days following the auction or as soon thereafter as such documents are available. The Auction Group, LLC makes no warranties that such documents will be available. Any available titles shall not pass to Buyer until full payment is received. Please contact our office to check on this if it applies to something you are interested in purchasing.
All property must be picked up in the time frames posted. **If not, the merchandise will be deemed abandoned. Buyer will lose any right, title, or interest the Buyer may have acquired. **The merchandise shall revert and repossess to The Auction Group, LLC without further notice to the Buyer. **The Buyer’s payment will be forfeited as well. No Buyer may assign, transfer, or dispose of his rights in any article purchased before he has paid the purchase price in full and picked up the items. No reselling will be allowed from the premises.
If any applicable conditions are not complied with by Buyer, then, in addition to any other remedies available to The Auction Group, LLC, including and without limitation, the right to hold Buyer liable for the total purchase price, The Auction Group, LLC may, at its option, (a) cancel the sale, retaining all payments made by Buyer, including any deposit made, as liquidated damages and/or (b) resell the merchandise in which event Buyer will be liable for the cost of removing and reselling the abandoned merchandise, for any deficiency between Buyer’s original purchase price and subsequent resale price, commission, interest rates (a minimum of 1.5% per month or 18% per annum), legal fees, moving and storage (a minimum of $2.00/sq.ft. per month) and all other expenses related to the disposal or reselling of the abandoned property.
Important Information about Warranties and Refunds
ALL SALES ARE FINAL. NO EXCEPTIONS. The condition of the merchandise being offered varies. Buyer understands and agrees:
(1) that any description or sample of the merchandise given or furnished online is solely for identification, and does not create any warranty, express or implied, that the merchandise actually conforms to such description or sample;
(2) that all merchandise is purchased and accepted by Buyer “AS IS-WHERE IS,” ‘IN PLACE” and “WITH ALL FAULTS, KNOWN AND UNKNOWN.” THE AUCTION GROUP, LLC MAKES NO WARRANTIES OR GUARANTEES WHATSOEVER WHETHER WRITTEN, ORAL OR IMPLIED AS TO QUALITY, QUANTITY, CONDITION, LOCATION, USEABILITY, SALEABILITY, WEIGHT, MEASUREMENT, YEAR, MODEL, MECHANICAL CONDITION, PERFORMANCE, FITNESS FOR A PARTICULAR PURPOSE OR OTHER SPECIFICATIONS. MANUFACTURER'S WARRANTIES MAY BE IN EFFECT. NO SALE SHALL BE INVALIDATED AND THE AUCTION GROUP, LLC SHALL HAVE NO LIABILITY FOR A MISDESCRIPTION OF ANY ARTICLE OR LOT WHETHER CONTAINED IN A CATALOGUE, ADVERTISEMENT OR OTHERWISE. Descriptions have been prepared for guide purposes only and shall not be relied upon by Buyer for accuracy or completeness. By submitting a bid, Buyer/Bidder affirms it has inspected all items or has waived its right to do so prior to bidding. Buyers shall be deemed to have relied entirely upon their own inspections and investigations. Preview is available before the close of an auction.
Taxes and Tax Exemption
Buyers will be charged all applicable taxes unless SATISFACTORY PROOF OF EXEMPTION is provided 24 hours prior to the close of the auction. Satisfactory proof of exemption is a current copy of the Texas tax exemption form in the name of the buyer provided in a hard copy or by email. If satisfactory proof is not provided, Buyer will pay all applicable taxes. Proof must be provided 24 hours PRIOR to the close of the auction. No taxes will be refunded once they have been collected. Taxes are calculated AFTER the buyer’s premium.
All articles will be sold to the highest bidder conforming to the bid process. All sales shall be concluded in the time frame indicated and no Buyer may thereafter revoke his bid. Auctioneer reserves the right to sell articles by individual group lots and “En Bloc” as he deems appropriate. Auctioneer reserves the right to group, reduce, add to or delete lots. Auctioneer reserves the right to sell on behalf of third parties, its own account, or on the account of others. In the event there is a dispute between two or more claims of entitlement as the successful bidder, Auctioneer reserves the right to re-auction the item in dispute. The Auctioneer shall regulate all matters relating to the conduct of the auction and his decision shall be final and binding on all bidders. Auctioneer shall be entitled to make changes in (the composition of) the lots or to withdraw them, up until the last moment before the sale, refuse bids without having to state the reasons, in which case the previous bidders shall be bound to their bids, and to correct himself. Auctioneer reserves the right to sell subject to a reserve and to purchase for its own account or of others, whether by verbal or written proxy, all subject to prior sale.
The Auction Group, LLC reserves the right to correct any mistakes or typographical errors made by itself or on its behalf in any of its announcements or documents.
The bidder’s number is nontransferable. All bids made by the holder of the number will be Buyer’s responsibility. A successful bid online constitutes a legally binding contract of sale. The Auction Group, LLC reserves the right to refuse any applicant the privilege of bidding and may revoke such privilege of bidding AT ANY TIME.
Picking Up Your Items
Buyer is solely responsible to provide any personnel, equipment or material needed to pick up purchases and shall assume all responsibility for the removal of any item of property purchased and any and all risks associated with such removal including, without limitations, the responsibility for providing LICENSED AND BONDED professionals to ensure proper water, gas and/or power disconnection, disassembly, removal and loading, and full financial responsibility for any damage or liability to persons or property resulting from any negligent act or omission of Buyer or Buyer’s employees, agents and/or representatives during pick-up and removal.
Buyer agrees that in the event purchased merchandise contains any environmental hazards, toxic waste or other type of hazardous material in any form whatsoever, Buyer shall provide evidence that Buyer or its representatives are licensed for such removal and shall comply with all applicable local, state and/or federal rules, laws and regulations. The Auction Group, LLC, its agents or representatives will not be responsible for its containment, storage or removal.
Persons in attendance during inspection or removal of merchandise assume all risks of damage or loss to persons, property, or merchandise and shall exercise proper precautions at all times for the protection of persons and property and shall comply with all safety and health requirements as directed by The Auction Group, LLC, and local, state and federal regulations. The Auction Group, LLC, its agents, its employees and representatives shall not be liable by reason of any defect in or about the condition of the premises on which the auction is held. Buyer specifically releases The Auction Group, LLC, its agents and representatives from all liability thereof.
All risk loss shall pass to Buyer at the time of payment. If The Auction Group, LLC is unable to deliver an article sold to Buyer due to fire, theft, or any other reasons whatsoever, The Auction Group, LLC shall reimburse Buyer for all monies paid to The Auction Group, LLC in respect to the article and The Auction Group, LLC shall have no further liability to the purchaser arising from or relating to such loss, including without limitation any damages for loss of profits.
In no event shall The Auction Group, LLC ‘s liability to Buyer exceed the purchase price actually paid. A Buyer’s claim shall be limited to the amount paid for the merchandise, and shall not extend to any obligation; risk; liability; right; claim; remedy for loss of use, revenue or profit; liability of Buyer to any third party; personal injury; or any other direct, indirect, incidental or consequential damages. The Auction Group, LLC is acting as an agent only and is not responsible for the acts of its principles.
Buyer agrees to indemnify, defend and hold harmless The Auction Group, LLC and its agents and representatives, from any and all demands, claims, losses, damages and liabilities (including attorneys’ fees) asserted against, resulting to or imposed upon The Auction Group, LLC resulting from the negligence of Buyer or his/her employees, agents and representatives, while in, at or about the auction premises during inspection, sale or removal of merchandise.
All sales transactions shall be governed by and construed in accordance with the local laws of the State of Texas. If any provision of these Terms and Conditions shall be held invalid, illegal, unenforceable or inoperative, the balance of Terms and Conditions shall remain in full force and affect as if such provisions had not been included. These Terms and Conditions with any amendments or modifications expressly made by The Auction Group, LLC constitute all the terms and conditions with respect to the sale of articles at this online auction. There are no representations, warranties, terms, conditions, undertakings or collateral agreements except as herein provided.
All Buyers acknowledge and accept by their registration the Terms & Conditions of Sale printed as listed herein.
ALL SALES ARE FINAL! NO REFUNDS OR EXCHANGES!