AUCTION TERMS & CONDITIONS

JUNE 28, 2026 – CHICAGO, IL –WOODSHOP LIQUIDATION AUCTION

Welcome to Beloit Auction Service, Inc.. All items in this auction are located at 5245 W Diversey Avenue, Chicago, IL 60639. By registering, bidding, or participating in this auction, you agree to the following Terms & Conditions.

(1.) Bidder Registration

All bidders must register and be approved prior to bidding. Auctioneer reserves the right to deny, suspend, or revoke bidding privileges at its sole discretion. All bids are irrevocable and binding.

(2.) Account Responsibility

Bidders are solely responsible for all activity under their bidding account, including username and password security.

(3.) Auctioneer’s Discretion

Auctioneer reserves the right to reject bids, modify increments, group or divide lots, withdraw lots, reopen bidding, resolve disputes, or cancel any sale. Auctioneer’s records and decisions shall be final.

(4.) Property Condition

All property sells AS IS, WHERE IS, WITH ALL FAULTS. No warranties or guarantees of any kind are made by Seller or Auctioneer, express or implied, including merchantability or fitness for purpose.

Descriptions, photos, dimensions, counts, references, measurements, and quantities are approximate, believed accurate, but not guaranteed. Buyers must independently inspect and verify prior to bidding.

(5.) Preview / Inspection

In-person preview will be held at 5245 W Diversey Avenue, Chicago, IL 60639 on:

• Friday, June 26, 2026 | 11:00 AM – 1:00 PM

Inspection is strongly encouraged. Failure to inspect does not relieve buyer obligations.

(6.) Buyer’s Premium

A 16% Buyer’s Premium will be added to the final bid price of each lot.

(7.) Payment Terms

Payment is due in full before pickup. No property may be removed until paid in full with cleared funds. 

IMPORTANT: No payments will be accepted at the auction pickup site. All invoices must be paid in full prior to pickup.

• Credit card payments may be made up to $500
• Cash - payments may be made at Beloit Auction, 534 W Grand Avenue, Beloit, WI
• Wire Transfer payment must be made for invoices $500 or more

Not Accepted:

• Checks
• Debit Cards
• ACH

Wire transfers must be initiated promptly and must fully clear prior to release of property. Buyers are responsible for any wire fees.

(8.) Sales Tax

Applicable Wisconsin sales tax will be collected unless a valid exemption certificate is submitted and approved prior to invoice payment. No retroactive refunds.

(9.) No Chargebacks / Payment Reversal

Any attempted wire reversal, payment dispute, fraud, or unauthorized recall of funds shall constitute buyer default and subject buyer to damages, costs, attorney fees, and collection remedies.

(10.) Auction Closing

Auction begins closing Sunday, June 28, 2026 at 7:07 PM Central Time using staggered closing with extended bidding (soft close).

(11.) Extended Bidding (Soft Close)

If a bid is placed within the final 90 seconds of a lot closing, that lot will automatically extend by 90 seconds until no further bids are received.

(12.) Pickup Dates / Removal Schedule

All purchases must be removed from 5245 W Diversey Avenue, Chicago, IL 60639 during the following times:

• Tuesday, June 30, 2026 | 10:00 AM – 2:00 PM
• Wednesday, July 1, 2026 | 10:00 AM – 2:00 PM
• Thursday, July 2, 2026 | 10:00 AM – 2:00 PM
• Friday, July 3, 2026 | 10:00 AM – 2:00 PM
• CNC machines to be picked up by appointment with the Seller from July 6, 2026, through July 10, 2026. Buyer is responsible for removal/all rigging charges.

No alternate pickup times unless approved in writing. Loading areas may be controlled by Auctioneer staff. Buyers must follow all traffic, parking, and loading instructions.

(13.) Removal Requirements

Buyers must supply their own:

• Labor / moving help
• Hand tools
• Dollies / carts
• Packing materials
• Pallet jacks
• Proper vehicles and tie-downs
• Rigging service (for the CNC machines)

Auction staff do not dismantle, package, move, or load purchases.

Buyer assumes all risk during removal and is liable for injury or property damage caused by themselves, helpers, contractors, or vehicles.

(14.) Shelving / Fixtures / Racking Removal

Any buyer removing shelving, pallet racking, counters, fixtures, displays, or mounted equipment must do so safely and without damage to walls, floors, doors, ceilings, utilities, adjacent property, loading docks, parking areas, or common areas.

Buyer shall be responsible for all damage caused during removal.

(15.) Abandonment / Forfeiture

Any property not removed by Friday, July 3, 2026 at 2:00 PM shall be deemed abandoned without refund. Buyer shall be responsible for a $35 per lot disposal / handling fee for unremoved property. Failure to appear during pickup does not entitle buyer to refund.

Auctioneer may resell, dispose of, or remove abandoned property.

(16.) Default

If Buyer fails to pay, fails to remove items, or otherwise breaches these terms, Auctioneer may:

• Cancel sale
• Retain deposits/payments
• Charge the credit or debit card on file for unpaid amounts and applicable fees, where permitted by law
• Resell items
• Suspend account
• Pursue damages
• Recover attorney fees, storage, labor costs, resale losses, and costs

(17.) No Returns / No Refunds

All sales are final. No returns, exchanges, credits, or refunds for any reason.

(18.) No Shipping

No shipping is available for this auction.

(19.) Communications

By registering, bidder agrees Auctioneer may contact bidder by email, phone, or text regarding invoices, pickup, auction matters, or account issues. Marketing emails may be unsubscribed from; transactional notices may still be sent.

(20.) Theft & Tampering

Anyone caught tampering with merchandise, tags, labels, or removing unpaid items may be removed from premises and prosecuted.

(21.) Legal Contract

At the closing of each lot, a legally binding contract of sale is created between Buyer and Seller.

(22.) Auctioneer & Staff Bidding

Auctioneer staff may bid on and purchase merchandise.

(23.) Force Majeure

Auctioneer is not liable for delays or inability to perform caused by events beyond reasonable control, including weather, fire, internet outages, labor disruption, or governmental action.

(24.) Age Requirement

Bidders must be at least 18 years old to register.

(25.) Media Use

Auctioneer may photograph, video record, or otherwise capture images or audio of the auction premises, merchandise, preview, pickup, and attendees for advertising, promotional, documentation, security, or business purposes. By entering the premises or participating in the auction, bidder consents to such use without compensation.

(26.) Workshop Safety

This is an active workshop/commercial environment. Floors may be uneven, dusty, or obstructed. Buyers enter premises at their own risk.

Children should not accompany buyers during removal.

(27.) Premises Liability Waiver

Buyer releases Seller, landlord, and Beloit Auction Service, Inc. from claims for injury, loss, theft, accident, or damage arising from preview, pickup, loading, or removal activities.

(28.) Technology Disclaimer

Auctioneer is not responsible for outages, internet failures, delayed bids, software errors, or technical malfunctions. Auctioneer may reopen, extend, or void affected lots.

(29.) Lot Withdrawal

Auctioneer or Seller may add, delete, combine, divide, or withdraw lots at any time before or during the auction.

(30.) Title Transfer

Ownership transfers only after full payment is received and accepted.

(31.) Buyer Responsibility

Buyers are responsible for determining suitability, dimensions, compatibility, functionality, and intended use of all items purchased.

(32.) Indemnification

Buyer agrees to defend, indemnify, and hold harmless Beloit Auction Service, Inc., Seller, property owner, and affiliates from any claims arising out of participation, removal, transport, ownership, or use of purchased property.

(33.) Governing Law & Venue

These Terms & Conditions are governed by Wisconsin law.

Exclusive venue for any dispute shall be Rock County, Wisconsin.

(34.) Limitation of Liability

If Auctioneer is found liable for any claim, liability shall be limited to the purchase price actually paid for the disputed lot.

No consequential, incidental, or punitive damages shall be recoverable.

(35.) Severability

If any provision is deemed unenforceable, remaining provisions remain in full force and effect.

(36.) Acceptance of Terms

By registering, bidding, paying, or removing property, bidder acknowledges having read, understood, and accepted these Terms & Conditions in full.

AUCTION CONDUCTED BY

Beloit Auction Service, Inc.
534 W. Grand Avenue
Beloit, WI 53511
608.364.1965