Yarn Manufacturing Equipment - Formerly of Sylvania Yarn Systems

Complete Plant- Yarn Manufacturing EquipmentNike

Previous Auction
Auction Date:
Thursday, October 13, 2011 - 9:00am
Inspection Date:
Monday, October 10, 2011 - 9:00am
Location:
405 Mims Road
30467 Sylvania , GA
United States
  • (2) Superba Heat Set Lines
  • Winders, Coners & Spinners
  • Carding Area & Dye House
  • Shop, Spare Parts & Tanks
  • Forklifts, Tractors & Trailers
  • Cartoners, Bundlers & More

Auction in conjunction with Rabin Worldwide. 

Preview by appointment only.  To schedule call 415-522-5700

The following machinery mover will be available for rigging: Jim Panetento, Asset Recovery Services, 842 Mike Powers Road, Grantville, GA 30220, 585-703-9645, jpwinkconst@yahoo.com

1. Payment. Only cash, a cashier's check or a company/personal check accompanied by a letter of guarantee from a bank payable to RABIN WORLDWIDE will be accepted. A refundable deposit in the amount of 25% is required to be deposited with RABIN WORLDWIDE upon registration at the auction. The balance and full payment for all items purchased is due to RABIN WORLDWIDE on the day of sale.
2. Taxes. Where required by law, Buyer shall pay to RABIN WORLDWIDE sales tax, value added tax or any other applicable tax. Any such taxes will be added to the purchase price of all purchased items, as well as the Buyer's Premium. At the time of payment, dealers who purchase for resale must supply RABIN WORLDWIDE with all necessary documentation or upon receipt of such resale documentation, the tax will be refunded to the dealer.
3. Buyer's Premium. RABIN WORLDWIDE will charge and retain a non-negotiable buyer's commission ("Buyer's Premium") on the proceeds of any sale based on the final bid of each lot sold. The Buyer's Premium will be 12% for cash payments (cash, check, wire transfer) and 15% for credit card payments. The Buyer's Premium will be posted on the premises and announced prior to the sale.
4. Title. Title to the offered item shall pass to Buyer upon (i) the payment in full to RABIN WORLDWIDE; and (ii) removal of purchased item from the premises, subject to compliance by Buyer with all other Terms of Sale. RABIN WORLDWIDE reserves the right to cancel or void the sale of any items purchased by Buyer up to the time such items are removed from the premises by Buyer.
5. Inspection. Buyer hereby acknowledges that Buyer, or an agent acting on Buyer's behalf, has inspected, or has had the opportunity to inspect, all of the items upon which Buyer will be bidding and/or does purchase. After a sale has been confirmed, the Buyer shall be deemed to have inspected all purchased items.
6. Safety Standards. Buyer expressly assumes all responsibility to secure all safety equipment and to meet all applicable local, state and governmental safety standards in using or removing any items purchased.
7. Adjustment of price. Where appropriate, if a shortage exists on an estimated count of items sold, an adjustment on the sale price may be made by RABIN WORLDWIDE. Buyer must request such an adjustment prior to the time Buyer removes such items. No adjustment will be made for any shortage existing on any lot of items without a marked quantity.
8. Removal of Items Purchased. Items can only be removed from the premises within the removal time as announced at the sale. No item can be removed, segregated or dismantled by Buyer before the conclusion of the auction. Prior to removal of any item purchased, the entire invoice must be paid in full, in order to gain access to the premises. Buyer must present a representative of RABIN WORLDWIDE with an original white invoice/bill of sale marked 'PAID'. Removal shall be at the sole expense, risk and liability of the Buyer. RABIN WORLDWIDE shall not be responsible for theft of any item or damage caused to any item prior to Buyer's removal of such item.
9. Failure to remove items purchased. If items are not removed within the specified time for removal, (i) such items will be deemed abandoned by the Buyer, (ii) Buyer shall forfeit all monies paid to RABIN WORLDWIDE for the purchase of such item(s), including any rigging costs and (iii) Buyer shall forfeit the right to purchase such item(s). In addition, Buyer shall be responsible for all damages suffered by RABIN WORLDWIDE in accordance with Paragraph 16, below, including, but not limited to, any dismantling, transportation, storage or other costs, including attorneys' fees incurred by RABIN WORLDWIDE as a consequence of Buyer's failure to remove such item(s).
10. Absentee Bids. RABIN WORLDWIDE will accept bids from Buyers who wish to bid, but cannot attend the auction. The bids may be placed online at www.rabin.com or in writing on a form acceptable to RABIN WORLDWIDE, without charge, and must be submitted in advance of the sale. All bids must state the highest bid price, net of the Buyer's Premium and any applicable taxes and be accompanied by a refundable deposit equal to 25% of the highest bid price.
11. Bidding. If any dispute arises between two or more bidders, the auctioneer has the right in its sole discretion to determine the successful bidder or to re-offer and resell the item or lot in dispute. RABIN WORLDWIDE shall have no liability arising from any dispute between two bidders. RABIN WORLDWIDE reserves the right to group one or more lots into one or more selling items orlots, or to add to or delete items or lots at its sole discretion. RABIN WORLDWIDE reserves the right to set the bidding increments. RABIN WORLDWIDE also reserves the right to reject any bid which is only a fractional advance over the preceding bid. RABIN WORLDWIDE, or the owners, reserves the right to set and/or to modify a reserve price.
12. Absence of Warranties. While descriptions are believed to be correct. RABIN WORLDWIDE and the Owners make no warranties or guarantees, expressed or implied, as to the genuineness, authenticity of, or defect in any lot. Neither RABIN WORLDWIDE nor the Owners shall be liable for any inaccurate, incomplete or incorrect description, fault or defect in any lot. ALL SALES BY RABIN WORLDWIDE OF THE GOODS, WILL BE 'AS IS', 'WHERE IS', WITH ALL FAULTS, LATENT AND PATENT, WITHOUT REPRESENTATION OR WARRANTY, EITHER EXPRESSED OR IMPLIED, OF ANY KIND, INCLUDING ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR WARRANTY AGAINST PATENT, TRADEMARK, COPYRIGHT OR TRADE SECRET INFRINGEMENT.
13. Indemnification. Buyer shall indemnify, hold harmless and defend RABIN WORLDWIDE and the Owners from and against any and all losses, damages, liabilities and claims, and all attorney's fees, costs and expenses arising out of, based upon or resulting from (i) any loss or injury resulting from Buyer's failure to secure all safety equipment and/or to meet all applicable government safety standards in removing items purchased or in use, (ii) any act by or omission of RABIN WORLDWIDE, the Owners, or their respective agents, representatives or employees, relating to or affecting the goods bid on and or purchased by Buyer, or (iii) any injury to Buyer or any other person or property of any type whatsoever caused during the inspection, auction, dismantling, removing transporting or use of the items purchased.
14. Hazardous Materials. Buyer will indemnify, defend and hold RABIN WORLDWIDE harmless with respect to all costs, expenses, liabilities, damages or claims, including without limitation, attorney's fees, asserted by any person, entity or governmental agency or against RABIN WORLDWIDE directly or indirectly relating in any manner to any hazardous or toxic materials, which may be regulated under applicable laws, rules or regulations, (collectively, 'Hazardous Materials') and which relate in any way to the dismantling or removal of any purchased item. RABIN WORLDWIDE shall in no event be obligated to sell any items which contain any Hazardous Materials, or to incur any costs or expenses relating in any manner, either directly or indirectly, to any Hazardous Materials. Buyer will be responsible for any and all remediation costs related to the dismantling and removal of any purchased item.
15. Acts Of Others. RABIN WORLDWIDE is not responsible for (i) the acts or omissions of any party who provided any items to the auctioneer for sale, (ii) the owner or lessor of the auction site, (iii) the owner or lessor of the site where the items are stored, or (iv) the acts or omissions of any party who provides services to the auctioneer, including, but not limited to telecommunication or internet bidding services.
16. Default/Non-Compliance. In the event the Buyer fails to pay the entire purchase price on the day of the sale(s) and/or fails to comply with any conditions of these Terms of Sale, RABIN WORLDWIDE may retain and/or recover the Buyer's deposit for such failure. In addition, RABIN WORLDWIDE may resell such items at a public or private sale without further notice. If, at such a sale, the item is sold for a lesser price the original buyer (defaulter) will be responsible for the difference. Furthermore, any charges, fees and/or expenses incurred by Rabin Worldwide as a result of resale will also be the responsibilty of the defaulter. This also includes any attorney's fees that may result in enforcement of this agreement.
17. Limitation of Liability. RABIN WORLDWIDE, the Owners, or their respective agents, representatives or employees, shall have no liability to Buyer due to nondelivery of any item for any reason other than to return to Buyer the monies deposited for such nondelivered items. Buyer's sole remedy for nondelivery of items shall be the refund of the original purchase price paid by Buyer for such items. RABIN WORLDWIDE, the Owners, or their respective agents, representatives or employees, shall not be liable for any lost profits, incidental or consequential damages or the replacement value of any item.
18. Arbitration. Any dispute or controversy arising out of or relating to the auction or any interpretation, construction, performance or breach of these Terms of Sale, including fraud in the inducement, shall be resolved by final and binding arbitration conducted by a retired judge, either with Judicial Arbitration and Mediation Service or through the American Arbitration Association. Judgment may be entered on the arbitrator's decision in any court having jurisdiction.
19. Attorney's Fees. Should any party to this agreement institute any arbitration or other action or proceeding in any way relating to the auction, or to enforce, interpret or apply any provision of these Terms of Sale, the parties agree that the prevailing party shall be entitled to reimbursement by the losing party of all statutory and nonstatutory costs and expenses, including, but not limited to, all of its attorney's fees.
20. Governing Law. The validity, construction and performance of these Terms of Sale shall be governed by the substantive law of the country or region where the auction was conducted.
21. Severability. If any provision of these Terms of Sale is deemed illegal, invalid or unenforceable, the legality, validity and enforceability of the remaining parts, shall not be affected.