Long Beach Auto Auction Terms and Conditions

General

  • The Auction is open to Licensed Automobile Dealers ONLY!  NO RETAIL CUSTOMERS! Violators may lose Auction privileges
  • Dealers must register and be approved by LBAA prior to participating in any auction In-Lane or Online. Payment type must be Pre-approved by auction including use of Floor Plan
  • All dealer guests must be Checked-In through the office and must wear a Guest Badge at all times
  • No children under 12 years of age allowed under any circumstances.
  • Auction management reserves the right to refuse service to anyone
  • Buyer and Seller agree to hold Auction harmless from any and all litigation that may arise from transaction at Auction
  • All disclosures, guarantees and representations are that of the seller only- Auction makes no guarantees nor representations expressed or implied.
  • Auction will not be responsible for vehicles left on Auction property, including vehicles that are set outside for afterhours pickup. Auction is not responsible for stolen items including but not limited to: Keys, Audio/Video equipment, batteries etc.
  • LBAA is a full disclosure Auction. Information about vehicles obtained by the Auction will be disclosed on the block. This includes data obtained from vehicle history reports. LBAA is not responsible for the accuracy or validity of such historical information.       
  • All “Off the block” transactions must be approved by auction and will be sold As-Is.  

Title Arbitration

  • Seller has 30 days to provide the auction with a title to a sold vehicle. After the 30th day the buyer can start arbitration by contacting auction management with notice of intent to arbitrate. The seller then has till close of the next business day to produce the title. If title is not produced the buyer then has 24 hours to return the vehicle. The auction at its discretion may give the buyer additional time to return the vehicle under certain circumstances but shall not exceed 5 days from the notice of intent to arbitrate. If the vehicle has not returned to the auction within the allotted time, and the title arrives before the vehicle, the deal will stay sold.
  • All vehicles with no title at auction after 30 days will be charged and additional $25 late title fee.

 Buyer Agreement

  • All vehicles sold “IF” or “Phone Call” are binding upon buyer until 12:00 noon of the next business day. Buyer is responsible to verify “IF” bid results with Auction.
  • All transactions must be paid on sale day. All Post-sale transactions (“IF” bids) and online purchases must be paid by Monday following the sale or a $100 per vehicle late fee will be accessed
  • All vehicles purchased online will be charged a Buyer Fee +$50 online fee +any PSI Fees.

Consignor Agreement

  • Please make sure your vehicles are gassed up and in working order to be driven through auction. Non-running vehicles will be sold during the Disabled Unit sale
  • Any vehicle with a current “Salvage” title brand must be sold in the Disabled Unit Sale (this does not include “Previous Salvage” or “Rebuilt” brands)
  • All ATV/UTV vehicles must have a title or be announced “Bill of Sale only” or “MSO”
  • All vehicles will be offered to simulcast buyers
  • Arbitration Policy is different for Online and Simulcast Sales –(See NAAA Guidelines) Seller proceeds check will not be released until sale day arbitration period expires. Sellers may be paid for “Green Light” vehicles the day following the auction, but if vehicle is returned for arbitration, seller will promptly repay auction for vehicle plus applicable expenses

 

 “AS-IS” /Red Light Rule

  • Default Red Light – All vehicles are sold As-Is/No Arbitration unless otherwise announced on block
  •  All vehicles sold for $3000 or less & All vehicles in excess of 200,000 miles will be “AS-IS No Arbitration” regardless of any announcements or light displays.  If the asking price drops below $3001 at anytime during the bidding process, that vehicle will become “AS-IS”.  The seller will have the option to change to a Green Light only after the vehicle achieves a bid above $3000  
  • AS-IS Disclosure Requirements – ONLY the following items will be considered for arbitration on “AS-IS” vehicles.
    • Mileage Disclosure (if vehicle is under 10 model years old)
    • Flood or Previous Flood Title brand (if vehicle is under 10 model years old)
    • Previous/Rebuilt Title brand (if vehicle is under 10 model years old)
    • Salvage Brand or Bonded Title  (vehicle under 20 model years old)
    • NAAA Discovery Times apply
    • **Vehicles Sold “AS-IS” will not be arbitrated for any physical or mechanical reason including Structural Damage**

 

Arbitration Policy – “Sale Day only” arbitration period ends at close of business on auction day – All post sale inspections will be complete and results will be available to seller at open of business the day following the sale. LBAA follows the current NAAA Arbitration Policy (**See our “AS-IS” rule above**) All Arbitration Decisions are final and binding on both buyer and seller. www.naaa.com

Arbitration Mileage- Vehicles retured for arbitration with over 250 miles will be depreciated by $.35 per additional mile.  

 

 

 

Terms and Conditions subject to change without notice – It is the dealer’s responsibility to read and understand all rules prior to participating in any auction.