Ferguson Industries

Who May Attend This Auction:
This is a PUBLIC ONLINE AUCTION and everyone is invited to register, bid and buy at this auction. There is no cost to register and bid. All bidders are required to enter a valid credit card to register. We do NOT automatically charge your credit card so please be prepared to pay for your items when you pick them up.

Online Auction:
This is an ONLINE ONLY auction. NO live bidding will be held onsite.

Buyer's Premium:
A buyer's premium of twelve percent (12%) will be added to the high bid to determine the total price to be paid.

Bidding Procedures:
On-line auctions move quickly! One item closes every few seconds. If you are interested in bidding, bid quickly, especially at the close of the bidding time. The bidding software will notify bidders by email when they have been outbid. Bidders may also find out if they have been outbid by refreshing the individual lot information or the entire screen. Due to varying internet connections speed, please place a maximum or “MAX” bid or constantly monitor the auction at close of bidding. Email notifications can be delayed. If you win you will be notified by email. It is recommended that you watch the auction at the extended bidding time session to make sure you are the high bidder.

By placing a bid, you acknowledge that your bid is a legally binding offer to purchase the item property being auctioned. Times shall be of the essence. MRA reserves the right to update, lower bids, withdraw bids or re-catalog items in this auction. Winning high bidders are notified by email when all items in the auction have closed. Bidders are responsible for checking their email to receive notification that they have won a lot(s). Auction company employees and/or Auction Company may bid on auction for absentee bidders or at the direction of interested and approved bidders who refuse to create an online account but desire to bid at the auction. Auction company employees may bid on auction items for personal consumption.

Extended Bidding:
This auction features EXTENDED BIDDING. Any lot that receives a bid within 2 minutes of its Scheduled Closing Time will automatically have the clock extended on that lot for an addition 2 minutes and that lot shall remain open for bids past its normal close. The extension provision for that lot will continue until there is no additional bidding for 2 minutes.
Maximum or “MAX” BIDS:
Internet bidders who desire to make certain their bids are acknowledged should use the internet bidding feature and leave their maximum bid. When you bid your max, the current bid price does not automatically go to your max bid. There must be another bid to increase the current price and the computer will automatically bid up to your max in the preset bid increments. Max bids are taken in the order of date and time placed.

Browser Information:
Google Chrome and Mozilla Firefox is the preferred Internet Browser for our bidding platforms. Because Microsoft is phasing out support for Internet Explorer 8, 9 and 10, bidders are more likely to have issues with Internet Explorer when using our website.

No Warranties:
All auction properties are sold in “as is, where is” condition. Seller makes no warranty as to the condition or the specific usefulness of any item sold. There are no refunds or exchanges.

Inspection:
All items must be inspected must be made prior to the auction date. Inspection Dates are published on our website.
Please do not bid on any property until you have thoroughly inspected the property.

Invoices:
Winning bidders are notified by email when all items in the auction have closed. Bidders are responsible for checking their email to receive notification that they have won a lot(s).
You may need to check your Junk folder on your email since you are receiving an email with an attachment.

Payments:
You will receive an email with an invoice attached for the list of items that you won in the bidding. PAYMENT MUST BE MADE WHEN YOU PICK UP YOUR ITEMS. Payments must be in the form of cash, cashier’s check, company check or bank wire.
If payment or arrangement for payment has not been made by 12 Noon on the 2nd day of item pickup, we reserve the right to process your credit card on file.

IMPORTANT – Pick Up Dates:
You must pick up your items during the posted pick up dates.  Please see these dates on this webpage.

If you are unable to pick up your items during these published times, PLEASE DO NOT BID. If you bid and are charged for items that you are the high bidder on and you do not pick them up during the published load out times, you agree that MRA may charge your credit card for the items you won the bid on. Bidder grants to auctioneer the right to donate any items that have been paid for by bidder but not picked up during the scheduled pick up times to a charity of our choosing.
Pick up only the items you purchase: Please treat others as you wish to be treated and DO NOT pick up items that you did not purchase. All violators of this policy will be prosecuted to the full extent of the law if you are caught picking up items that you did not buy.

Riggers:
A rigging company will be onsite to assist in loading (for an additional fee). No other rigging companies will be allowed.

Shipping:
Shipping is available for additional fee. Contact Jacob Ferguson at 901-493-9631 to obtain a quote for shipping.

Disclaimer:
Morris Realty & Auction has attempted to provide accurate descriptions of all items, however, it is the bidder’s responsibility to determine the condition and suitability of each lot. Printed statements or descriptions by Morris Realty & Auction’s staff are provided in good faith and are matters of opinion. All lots sell as is, with all faults. Morris Realty & Auction and the seller do not give or make any type of guarantee or warranty regarding the lots to be sold, implied or otherwise.
Technology: Morris Realty & Auction is not responsible for any technical problems that you experience while bidding that are beyond our control such as Internet connection or computer.

Default of Buyers:
Successful bidder not paying for items at the end of the auction will be considered in default. Such default by the Successful Bidder will result in that Bidder’s liability to both the Seller and Auction Company. Seller shall have the right to (a) declare this contractual agreement cancelled and recover full damage for its breach, (b) to elect to affirm this contractual agreement and enforce its specific performance or (c) Seller can resell the items either publicly or privately with Morris Realty & Auction and in such an event, the Buyer shall be liable for payment of any deficiency realized from the second sale plus all costs, including, but not limited to the holding/transporting/storage costs of the items, the expenses of both sales, legal and incidental damages of both the Seller and Morris Realty & Auction. In addition, Morris Realty & Auction reserves the right to recover any damages separately from the breach of the Buyer. The purchaser agrees to pay all reasonable attorney fees and costs incurred by Morris Realty & Auction, Inc. in the collection of funds. Morris Realty & Auction reserves the right to refuse bidding privileges to any person(s).

Debt Collection and Interest: Charges: The buyer agrees to pay all reasonable attorney fees and other costs incurred by Morris Realty & Auction in its efforts to collect unpaid funds from the buyer. The buyer agrees that a fee of 2% of the outstanding balance per month be added to any unpaid balance due Morris Realty & Auction. Any debt collection or dispute proceedings will be heard in Shelby County, Tennessee.

Hold Harmless:
Buyer and or bidder agrees that Morris Realty & Auction is a representative of the Seller and agrees to hold harmless and indemnify Morris Realty & Auction and its Agents, Owner, Directors, Employees and its Representatives from any and all claims, demands, expenses, damages which bidder/buyer may claim on account of or any way growing out of said auction and to look solely to the Seller for any remedy demanded.
Bidder Information and Security: All registration information the bidder provides to Morris Realty & Auction shall be current, complete, and accurate. All bidders are responsible for any bids placed under their bidding numbers and passwords. The security of bidder information is the responsibility of the bidder. Bidders must notify Morris Realty & Auction if they believe that their bidder number and password have been compromised believed to be correct, but is not guaranteed.

Information is SUBJECT TO CHANGE:
Announcements in the form of updated terms posted on the website will take precedence over any prior viewed terms at registrations, previously material or any other oral statements made. Please view the terms periodically for any changes.