896 - LIVE Firearms, Ammo, & Accessories Auction - Auction Terms & Conditions - 1. Auction Event Type: Live w/ Virtual Bidding 2. Auction Date: 12/28/2024 3. Auction Pre-bidding Opens: 12/10/2024 4. Inspection Dates: By Appointment 5. Location Address: 3114 Freeman St. Chattanooga, TN 37406 6. Buyer's Premium: Tiered (See Section I Below) 7. Lots "Sold on Conditional Sale" are sold pending Seller approval. *See Section IV for details. 8. Sales Tax: 9.25% Tax Exempt Buyers: Tax Exemption documentation must be received prior to payment. 9. Payment Due: All cards on file for invoices under $5,000 USD will be charged at the conclusion of the auction; payment for invoices over $5,000 is due within 2 business days. 10. Payments Accepted: Cash | Cashier's Check | Bank Wire* | Check* | All Major Credit Cards** *See Section I for further instructions. **Credit card transactions incur a 3% processing fee. 11. Removal/Shipping: No items may be removed until all items are paid in full. Removal Appointment Hours: Tuesday - Friday 8:30AM - 3:30PM EST. Item removal is by appointment only. Final Date of Removal: 1/10/2025 *See Sections II & III for full removal/shipping information.* 12. Firearms, Frames, Receivers, and Ammunition: Onsite pick up: firearms/frames/receivers purchases will not be released until buyer passes a TICS background check. Shipping: Firearms, frames, receivers, and ammunition (in applicable states) must be shipped to an FFL. Buyer is responsible for providing a copy of the FFL prior to shipment. Each firearm/frame/receiver in a shipment is subject to a $15 handling fee. Local FFL transfers will incur a $25 transfer fee. We do not offer sales of firearms, frames, receivers, and/or ammunition to international buyers. NFA/CLASS 3 FIREARMS: All firearms designated as NFA / Class 3 must be registered in compliance with the NFA registry. A $200 federal tax(non-refundable) payment is required each time a functional NFA firearm is transferred to or from a private owner. This fee will be added to the total invoice amount at time of invoicing and is due in full at the time of purchase. This must be paid before any processing of the required transfer paperwork. The buyer of the Class 3 firearm will be required to complete 3 forms: 1) ATF Form 4, 2) fingerprint card (completed with proper agency, often local pd prior to arrival), 3) ATF form 5330.20 Certificate of Compliance, and any State or Local requirement. Note: if state or local law requires a permit or license to purchase, possess, or receive NFA firearms, a copy of the transferee's (buyer) permit or license must accompany the application. Compass Auctions then submits the paperwork for the Federal Transfer Tax to BATFE. The BATFE can take up to 120 days or more for approval. Compass Auctions will receive back one of the Form 4's (they are sent in duplicate) with a Federal Tax Stamp attached to it. This is given to the new owner when picking up the NFA firearm. The following states are known to not allow individuals to own machine guns: California, Delaware, Hawaii, Illinois, Iowa, New Jersey, New York, Rhode Island, Washington D.C. and Washington. Although we have provided this list, laws consistently change, thus do not bid unless you are certain the laws in your state allow ownership of Class 3 NFA Firearms. SPECIAL NOTE: If you are a Class 3 SOT bidder (Dealer in Class 3 Weapons) you can transfer functional NFA firearms to or from other SOT payers and government agencies with BATFE approval, and without having to pay a transfer tax. Compass Auctions makes no guarantees or representations that the above-mentioned forms, fees, licenses, states, and/or approvals will be sufficient for you to own or use your purchased firearm. Consult with your federal, state, and local laws, law enforcement, or legal counsel to make sure you may legally transfer to, own, possess, or use the purchased firearm and that all fees, licenses and approvals are completed. It is your sole responsibility to determine your right to own and possess a NFA/Class III weapon before you bid on it. Successful bidders are responsible for payment of the lot, regardless of whether you approved for transfer or denied. If you have purchased a lot and later come to find that because of the state you live in or for other reasons that you cannot personally own the lot, you will still be required to pay for the lot. *See Section III for more Firearms purchase information.* **If you do not have funds to pay for purchases at the time of the auction, please do not bid.** Section I: Payment Buyer's Premium: Tiered $1.00 - $50,000.00 13% Onsite 16% HiBid 20% Proxibid $50,001.00+ 10% Onsite +2% HiBid Internet Fee +3% Proxibid Internet Fee All payment due within 2 business days. All cards on file for invoices under $5,000 USD will be charged at the conclusion of the auction; payment for invoices over $5,000 is due within 2 business days. Checks exceeding $500 must be accompanied by a letter of credit from the banking institution. Bank wires are subject to a $35 transfer fee (domestic bank wire). If the transfer fee is not included in the wire, Buyer gives Compass Auctions & Real Estate, LLC permission to charge the card on file for the amount due. All major credit cards accepted: Visa, MasterCard, American Express, Discover. Credit card transactions incur a 3% processing fee. No chargebacks permitted. A $100.00 fee shall be assessed to Buyer for all returned checks and interest may be charged at the rate of 3% of the total invoice weekly plus, any additional costs, labor, or fees incurred to pursue collection. If payment is not received, Compass Auctions may choose to void a Bidder's invoice and forfeit all items. Bidder will be banned from all future auctions associated with Compass Auctions & Real Estate, LLC and reported to its affiliated online bidding platforms. All legal fees, collection fees, and any other charges arising from nonpayment will be paid by the Bidder. Section II: Removal See Item 11 above for Final Removal Date. Items remaining in the warehouse more than 5 business days beyond the final date of removal will incur storage fees. Storage fees vary by invoice, starting at $10 per lot per week. Buyers causing damage, harm, creating environmental issues, dumping, destroying, abandoning refusal, or any other act to cause monetary expense to be incurred to a Consignor/Seller's property, auction site location, or property of any kind will be held liable for all damages, cleanup, or repair and may be prosecuted to the fullest extent of the law. Neither Compass Auctions & Real Estate, LLC nor Consignor/Seller is responsible for damages incurred due to loading, unloading, or during shipment/transport of items. All items are sold 'As Is, Where Is'. Compass Auctions & Real Estate, LLC. nor Consignor/Seller will, in any way, be responsible for any damages or injuries while providing a lift, tools, equipment and/or loading services. Lifts and loading may be provided as a service to Buyers where available. Buyer acknowledges responsibility for any personal injury or damages to property caused by themselves and/or his/her agent. If Buyer does not make the necessary arrangements for shipping or have items removed by the designated Final Removal Date, Buyer shall have no claim against Compass Auctions & Real Estate, LLC or Consignor/Seller and will forfeit the merchandise with no refunds or recourse. At request of the Buyer, Compass Auctions & Real Estate, LLC can provide shipping assistance. Small and medium-size items may be shipped via UPS, FedEx, or USPS for the cost of shipping (custom material cost or HAZMAT fees may apply). Each shipment is subject to a $10.00 handling fee per package. Firearms will incur a $15 handling fee per firearm. Compass can provide basic consolidation and pallet wrapping for a charge of $75.00 per pallet or banding for $125.00; transportation arrangements are the sole responsibility of the Buyer. Transporters must provide a Bill of Lading prior to pick up. Hazardous Material Shipping HAZMAT shipments are subject to a minimum hazmat charge of $70 per package (includes HAZMAT fee and HAZMAT packaging) + the cost of shipping. (Price not controlled by Compass.) All HAZMAT shipments will ONLY be shipped via FedEx. Compass reserves sole discretion to determine appropriate shipping methods. Invoices must be paid in full BEFORE items will be submitted for shipping preparation. Buyer is fully responsible for arranging shipping, transportation, logistics, rigging, and removal and any associated costs. Section III: Firearms, Frames, Receivers, & Ammunition Bidder acknowledges and assumes responsibility for adhering to Federal Firearms laws and those set forth in his/her State of residence and agrees to bid accordingly. Compass Auctions & Real Estate, LLC will not be held liable for purchases in violation of a respective State's law or Federal law, nor will any refunds be given. California Residents: ALL items MUST be shipped to an FFL dealer. BEFORE BIDDING, please review the laws of your state to ensure that the firearm is acceptable in California. Any items won that cannot be shipped to California, will still require payment and have to be re-consigned for resale in the next available auction. Firearms have not been test-fired by Compass Auctions & Real Estate, LLC. Buyer is solely responsible for the functionality and safety of their purchases. Onsite pick up: Firearms/frames/receivers purchases will not be released until buyer passes a TICS background check. The cost of the transaction, pass or deny, is $10. In the event that TICS denies a background check, Buyer may file an appeal with the State of Tennessee. As a result of the passage of the Bipartisan Safer Communities Act (BSCA) of 2022, background check results for persons between the ages of 18-20 will be delayed up to 10 business days after submission. Please visit https://nicsezcheckfbi.gov for further information. If an appeal results in a 'Conditional Proceed', Compass Auctions reserves the right to not release firearms/frames/receivers. Buyer may submit a new background check after the original 30 day wait period is complete. Buyer is responsible for the cost of each background check. If an appeal results in 'Denied', Compass Auctions & Real Estate, LLC will not refund the purchase and/or background check fee(s). Buyer may choose to re-consign won firearms/frames/receivers with no reserve; standard sales fees will apply. If Buyer does not choose to re-consign, items will be considered forfeit with no refund. Shipping: Firearms, frames, receivers, and ammunition (in applicable states) must be shipped to an FFL (Federal Firearms License) holder. Buyer is responsible for providing a copy of the FFL prior to shipment. FFLs can be emailed to: shipping@soldoncompass.com. Items will be shipped within 14 business days of customer confirmation of shipment address. FFL shipments will be shipped within 14 business days of FFL verification. Each firearm/frame/receiver in a shipment is subject to a $15 handling fee. Firearms, frames, and receivers will be shipped for the cost of postage and insurance. If multiple firearms are purchased, items can be packed and consolidated to reduce shipping costs. Firearms and ammo cannot be shipped together. Handguns have to be shipped 2nd Day Air. All other items are required to be shipped Ground. Hazmat shipments are subject to a minimum hazmat charge of $70 per package (includes hazmat fee and hazmat packaging) + the cost of shipping. (Price not controlled by Compass.) No straw purchases. Section IV: Additional Terms & Conditions All property is sold 'As Is, Where Is'. Statements, conditions, descriptions, weights, and measures on or about items are provided in good faith and only matters of opinion. Neither Compass Auctions & Real Estate, LLC nor the Consignor/Seller make no guarantees and/or warrantees, expressed or implied about the merchantability of items and/or fitness for a particular purpose. Conditional Sales: Compass Auctions & Real Estate, LLC will contact the Seller with the High Bid. The Bidder will be notified of the Seller's decision by close of business on the day of the auction. Conditional Sale bids that have been accepted by the Seller are considered winning bids and cannot be retracted. Reconsignment: Lots are eligible for reconsignment if all of the following criteria are met: 1. The winning bid amount is a minimum of $100 per lot; 2. The item(s) is located at Compass' facility (no offsite reconsignments will be available); and 3. A Compass staff member has provided authorization to reconsign the item(s) and a consignment form is fully executed by the buyer. Bidder acknowledges having inspected the property, whether in person or online, and to be satisfied with the same prior to bidding. Bidder is solely relying upon their own expertise when choosing to make a purchase. Compass Auctions & Real Estate, LLC has attempted to provide the correct item description and/or pictures, however any errors or omissions in any provided format, description, or picture does not affect/void the sale in any way. All announcements made by Auctioneer at/during the auction will take precedence over previous printed materials, website, or other statements and/or descriptions made. Compass Auctions & Real Estate, LLC reserves the right to withdraw or re-catalog items in the auction. Buyer agrees that under no circumstances whatsoever will Compass Auctions & Real Estate, LLC or Consignor/Seller ever be liable to any Buyer for an amount greater than the purchase price of the item purchased and only when in agreement that statement materially was intentionally incorrect. Under no circumstances shall the Bidder have any claim against Compass Auctions & Real Estate, LLC in the event of any technical issues. Compass Auctions & Real Estate, LLC accepts items with undisclosed reserve prices. The Consignor/Seller and Compass Auctions & Real Estate reserves the right to bid on behalf of the Consignor/Seller items on which there is a reserve. Compass Auctions & Real Estate, LLC may reject or cancel a bid for any reason. The record of the auction made by Compass Auctions & Real Estate, LLC shall be conclusive. This is a Public Auction and as such, all qualified Bidders may bid including Compass Auctions & Real Estate, LLC owners, family members, employees, and any Consignor company, group members, or employees. Compass Auctions & Real Estate, LLC reserves the right to refuse service at its discretion. Compass Auction & Real Estate, LLC reserves the right to update Terms & Conditions at any time without notice. Agents Only: The Auctioneers at Compass Auctions & Real Estate, LLC are acting as the Consignor/Sellers' agents. Disputes: Auctioneer shall designate the winning Bidder after each item is auctioned. If a dispute arises between two or more Bidders, Compass Auctions & Real Estate, LLC reserves the right to reopen bidding. The Auctioneer's designation of a Buyer shall be final. Any disputes that require litigation shall be administered and shall be enforced and brought in The State of Tennessee in Hamilton County and governed by the laws of the State of Tennessee. Compass Auctions & Real Estate, LLC shall select the venue for the litigation proceedings whether by arbitration or litigation. Compass Auctions shall receive compensation of all legal fees, collection fees, and any other charges incurred by Compass Auctions & Real Estate, LLC as a result of any legal action, regardless of the outcome. Iran Divestment Act: Buyer certifies that, to the best of his/her knowledge and belief, that his/her organization is not on the list created pursuant to TCA 12-12-106 regarding engaging in investment activities in Iran as described in TCA 12-12-105. By registering, bidding, and/or attending this auction, you agree to all Terms & Conditions listed as acknowledged and set forth by Compass Auctions & Real Estate, LLC.