The following Terms and Conditions for Bidding and Purchasing (”Terms”) are Keno Brothers, LLC’s d/b/a/ Keno Brothers Fine Automobile Auctions (”Keno Brothers,” ”we,” ”us” or ”our”) and the consignor’s entire agreement with any bidders and purchasers in relation to the automobiles, property or other lots listed herein (”Lots”) or otherwise for sale at our auction. The Terms, the glossary, if any, and all other contents of this catalog or other advertisements are subject to amendment by us by written or oral notice, including by announcements made before or during the sale. The Lots will be offered by us as agents for the consignor, unless the catalog indicates otherwise. By participating in any Keno Brothers sale, you acknowledge that you are bound by these Terms. You may not participate in the sale unless you agree to these Terms. 1. All automobiles sold by Keno Brothers are sold pursuant to New York Retail Motor Vehicle Dealer and consistent with all applicable laws, including the New York Used Car Lemon Law, N.Y.GBL § 198. Provided to Buyers will be relevant disclosures such as the New York Used Car Lemon Law Consumer Bill of Rights. Other than as stated herein, all property is sold ”AS IS” without any representations or warranties by us or the consignor as to the saleability, merchantability, fitness for any particular purpose, accuracy of any catalog or other written descriptions of condition, quality, rarity or importance of the Lot and no statement by Keno Brothers shall be deemed a warranty or representation or assumption of liability. Neither Keno Brothers nor the consignor make any representations and warranties whether express or implied as to whether purchaser acquires any copyrights, including, but not limited to, any reproduction rights. Neither Keno Brothers nor consignor are responsible for any errors or omissions in the catalog, glossary or any supplemental material. 2. All bidders are invited to conduct their own inspection prior to bidding and must not rely on any other information provided to them beyond their own due diligence. All Lots will be made available for such inspection prior to sale. Keno Brothers makes no representations or warranties as to the accuracy of Lot information. All bidders should consult http://www.kenobrothers.com
for the latest information on Lots. Descriptions provided by us are meant merely to facilitate the inspection by bidders. Any estimates are provided for guidance only and cannot be considered as implying that a Lot will be sold for the estimate price, or within the bracket of estimates. 3. A buyer’s premium of 12% will be added to the hammer price and is payable by the purchaser as part of the total purchase price. 4. Keno Brothers reserves the right to withdraw any Lot prior to sale and shall have no liability for such withdrawal. 5. Unless otherwise announced by the auctioneer, all bids are per Lot as numbered in the catalog or elsewhere. 6. The auctioneer has absolute and sole discretion with respect to bids. In the case of error or dispute with respect to bidding, and whether during or after the sale, the auctioneer, in the auctioneer’s sole discretion, will determine the successful bidder, or whether to re-open the bidding, to cancel the sale or to re-offer and re-sell the disputed item. Keno Brothers reserves the right to reject any bid offered by any bidder. The highest bidder acknowledged by the auctioneer will be the purchaser. If any dispute arises after the sale, our records and / or other information available to us shall be conclusive, in our sole discretion. 7. We will execute absentee bids or orders and accept telephone bids and online bids, in our sole discretion, as a convenience to bidders who are unable to attend in person. Keno Brothers is not responsible for any omissions or errors in connection with such absentee bids. 8. By participating in the sale, you represent and warrant that any bids you place, or bids made on your behalf, are not the product of any collusive or other anti-competitive agreement and are otherwise consistent with applicable law. Financial references, guarantees, deposits and/or such other security may be required prior to your registration as a bidder. 9. The auctioneer may reject any opening bid, or advance, if the auctioneer determines that such bid is below the Lot’s reserve. 10. The winning bidder becomes the purchaser on the fall of the auctioneer’s hammer, and the contract between the consignor and the purchaser is concluded. The winning bidder / purchaser must immediately pay the full purchase price. Until purchaser has paid to Keno Brothers the full hammer price plus the buyer’s premium, in cleared funds, title in or ownership of a purchased Lot will not transfer. In addition to the full panoply of remedies available to us by law, we reserve the right to impose late charges of 12% APR on the hammer price from the date of sale. 11. Unless we agree in writing otherwise, all Lots will be removed from the auction premises within 24 hours of the sale’s conclusion at the risk and expense of the purchaser. Purchasers are reminded that we do not maintain any loss coverage for such Lots and purchaser is responsible for all risk of loss or damage to Lots immediately after the sale. 12. If purchaser defaults, in addition to any and all other remedies available to us and the consignor by law, including, without limitation, the right to hold the purchaser liable for the total purchase price, including all fees, charges and expenses more fully set forth herein, we, at our option, may (a) cancel the sale of that Lot or any other Lot sold to the defaulting purchaser at the same or any other auction, retaining as liquidated damages all payments made by the purchaser; or (b) resell the purchased property, whether at public auction or by private sale; or (c) effect any combination of these remedies. In any case, purchaser will be liable for any deficiency, any and all costs, handling charges, late charges, expenses of both sales, our commissions on both sales at our regular rates, legal fees and expenses, collection fees and incidental damages. We shall have all of the rights accorded a secured party under the New York Uniform Commercial Code. Purchaser hereby agrees that we may file financing statements under the New York Uniform Commercial Code without bidder’s / purchaser’s signature. 13. Unless otherwise indicated, all Lots are offered subject to a confidential minimum hammer price at which a lot will be sold (Reserve). No Reserve will exceed our low presale estimate. 14. Unless exempted by law, the purchaser of any Lot will be required to pay the combined New York State and local sales tax, and if applicable, any other tax, on the total purchase price. New York sales tax will not be collected if the purchaser provides a valid Form ST-120, Resale Certificate, or a valid Form DTF-820, Certificate of Nonresidency of New York State and/or Local Taxing Jurisdiction. 15. Purchaser has the sole responsibility to obtain any import or export documents necessary to transport the Lot. 16. The laws of the State of New York shall govern this sale, these Terms as well as the rights of bidder, purchaser and consignor. By bidding, whether by agent, telephone, online or in person, you consent to exclusive jurisdiction in the courts of New York with venue in the borough of Manhattan. You agree, however, that Keno Brother’s, solely, retains the right to bring proceedings in a court other than the New York state and federal courts. 17. Purchaser maintains all risk in the handling, packing and / or shipping of purchased Lots.