Auction Terms & Conditions ***BUYER'S PREMIUM: A buyer's premium equal to 13% will be applied to all winning bids. The buyer's premium percentage will be applied to each lot sold, to be paid by the buyer, as part of the final purchase price. ***PAYMENT: Payment for any purchase is considered due and payable on receipt of invoice. All payments are due on the date of the scheduled pickup. Bidders who have not paid by the date of the scheduled pickup will be charged through their registered credit/debit card the day following the pickup day. Bidders who do not pick up items on the day of the pickup but have paid will have 3 business days to pick up, make arrangements to pick up or request shipping for the items. Items not paid in full by the end of designated pickup date may be re-listed and accompanied with a non-payment submission to the HiBid auction bidding platform. Scheerer accepts cash, credit cards with chip in person, or the credit/debit card registered on the bidder's account in HiBid or check for payment. -Bidders paying with credit card directly (at our onsite location, in person ONLY) to Scheerer will be charged 5% credit card processing fee in addition to the buyer's premium, sales tax & bid price. Credit card must have a chip. -Bidders may request to pay with the credit/debit card they register through Hibid. Bidders paying with this method directly to Scheerer will be charged a 1% credit card processing fee in addition to buyer's premium, sales tax & bid price. -Personal checks will be accepted only if credit has been established with Scheerer. Items paid for by check will be held by Scheerer for 10 business banking days. The purchaser agrees to pay Scheerer a handling charge of $25.00 for any check dishonored by the drawee. Winning bidder agrees to pay Scheerer within 5 calendar days from auction date. ***All purchases must be paid for before merchandise is removed from auction premises. ***Bidders planning to pay Paypal must contact our office to obtain a Paypal invoice. Please note that your invoice total will be adjusted accordingly and the 5% Paypal convenience fee will be added to the original invoice initially sent. Personal checks from bidders unknown to Scheerer McCulloch Auctioneers, Inc., will be accepted ONLY if credit has been previously established or if a bank authorization has been received guaranteeing a personal check. The buyer agrees to pay Scheerer McCulloch Auctioneers, Inc. a handling charge of $25.00 for any check not honored by the drawee. If the purchaser breaches any of its obligations under these conditions of sale, including its obligation to pay in full the purchase price for all items purchased, Scheerer McCulloch Auctioneers, Inc. may exercise its rights under the law, which may include canceling the sale and applying any payments made by the buyer to the damages caused by the breach, and/or offering at public auction, without reserve, any lot or item for which the buyer has failed to pay in full or failed to remove from the premises within 3 days. The buyer will be held liable for any deficiency plus all costs of sale. The liability of Scheerer McCulloch Auctioneers, Inc. to any buyer in regard to any item shall not exceed the purchase price actually paid by such buyer. VEHICLE PURCHASES: ***The auctioneer STRONGLY recommends bidders to schedule a professional mechanic inspection on all vehicles before bidding. Requirements to bid: -Bidder must be older than 21 and have a valid driver's license. -If the bidder is paying with check or credit/debit, bidder agrees to wait 10 days after payment is made to pick up the vehicle. -If paying with cash, vehicle will be released at the time of payment. Instructions after winning: Make payment at The Lantern with a valid ID Depending on payment: - Personal Check or Cashier's Check - Auction company will deposit the check the next business day. Once 10 days have passed, vehicle will be available for pickup. - Credit/debit/paypal - Once 10 days have passed, vehicle will be available for pickup. - Cash - Vehicle will be released at the time of payment. - Winning bidder will need to provide proof of insurance on vehicle at time of pickup. - Vehicle, title and keys will not be released without proof of insurance is provided. FIREARM(S) BIDDER & TRANSFER iNFO: BIDDER MUST RESIDE IN THE STATE OF INDIANA, AND PROVIDE A VALID INDIANA DRIVERS LICENSE. THERE WILL BE NO EXCEPTIONS. The buyer shall be responsible for the transfer fee in the amount of $25 per firearm, which is payable directly to the FFL at time of transfer. All firearms will be transferred to 2110 McConnell Dr, New Haven, 46774. Firearms pickup must be scheduled. It is the responsibility of the bidder to arrange method and delivery of complete payment with auctioneer. ***REMOVAL: All items must be paid for in full before they may be removed from auction location. All items MUST be removed from auction location during announced removal period. Items paid for and not removed from auction premises after 3 business days may be considered abandoned by the auctioneer. Abandoned items may be re-listed at the discretion of the auctioneer. ***Items picked up after scheduled pickup day may include a moving charge. ***LOCAL PICK -UP ONLY. It is the bidder's sole responsibility to contact the auction house PRIOR to auction day and PRIOR to bidding to request shipping of any lots. If the purchaser breaches any of its obligations under these Conditions of Sale, including its obligation to pay in full the purchase price of all items for which it was the highest successful bidder, Scheerer may exercise all of its rights and remedies under the law including, without limitation, (a) canceling the sale and applying any payments made by the purchaser to the damages caused by the purchaser's breach, (b) offering at public auction, without reserve, any lot or item for which the purchaser has failed to pay in full the purchase price, holding the purchaser liable for any deficiency plus all costs of sale, (c) demanding specific performance from the purchaser and/or (d) collecting from purchaser all reasonable costs and attorney fees incurred in pursuit of the remedies set forth in this paragraph. In no event will the liability of Scheerer to any purchaser with respect to any item exceed the purchase price actually paid by such purchaser for such item. ***CONDITION OF ITEMS: Neither the auctioneer nor the seller shall be responsible for the correct description, genuineness, authenticity of, or defect in any article. The auctioneer will make a good-faith effort to correctly describe all articles and their condition; however, neither the auctioneer nor the seller make any guarantee or warranty regarding the accuracy of article descriptions. *NO SALE WILL BE VOIDED OR ADJUSTED TO ACCOUNT FOR INCORRECT DESCRIPTION, CATALOG ERROR, OR IMPERFECTION NOT NOTED. ALL ITEMS ARE SOLD AS-IS, WHERE-IS, WITH NO WARRANTIES EXPRESSED OR IMPLIED. IN SOME CASES, IT IS THE RESPONSIBILITY OF THE BIDDER TO INSPECT ALL ARTICLES AND SATISFY ALL INQUIRIES BEFORE BIDDING!* All articles will be made available for public inspection during announced inspection periods. Bidders may also contact the auctioneer at any time prior to the auction to discuss articles being sold or request additional photographs. It is the responsibility of the buyer to satisfy all inquiries regarding article description and condition prior to bidding. ***THE HIGHEST BIDDER: In the case of a disputed bid, the auctioneer shall have sole discretion in determining the buyer and may also withdraw the lot or re-offer the lot for sale. Floor bidders have precedent over absentee bidders in the case of a tie winning bid . ***INDEMNIFICATION: Purchaser shall defend and indemnify and hold auctioneer and seller harmless from and against all claims and liabilities relating to the condition of, removal of, or use of the articles purchased or failure of user to follow instructions, warnings or recommendations of the manufacturer, or to comply with federal, state, and local laws applicable to such articles, including OSHA requirements and Environmental Protection Agency requirements, or for proximate or consequential damages, costs or legal expenses arising there from. ***RESPONSIBILITY FOR ARTICLES: At the time each article is sold, ownership of and responsibility for that article is transferred immediately to winning bidder. After articles are removed from auction location or the announced removal period has ended, the auctioneer and the seller will have no obligation to the winning bidder and no responsibility for articles sold. Bidders are responsible for inspecting each article sold before it is removed from site. ***ACCEPTANCE OF TERMS AND CONDITIONS: Any and all bids made by any and all bidders are legally binding contracts to purchase articles for the price offered according to the terms and conditions listed herein. In the event that a winning bidder does not perform within the terms of this contract, the auctioneer may, in addition to all other remedies allowed by law, retain all monies received as deposit or otherwise as liquidated damages. Articles not paid for and removed within the announced payment and removal times may be resold at public or private sale without further notice, with no reserve; any deficiency, together with all expenses and charges of resale, including legal fees, will be charged to the defaulting purchaser. ***AMENDMENT/ADDENDUM TO TERMS AND CONDITIONS OF AUCTION: Any amendment or addendum to the terms and conditions of the auction will be announced by the auctioneer prior to the start of the auction and will supersede the applicable terms and conditions listed herein. ***BIDDING on any item indicates your acceptance of these terms and all other terms announced at the time of sale. --------------------------------------------- ------------------------------------------ Terms Of Use Seller User Terms Bidder User Terms --------------------------------------------- ------------------------------------------ Bid Increments Your bid must adhere to the bid increment schedule. Bid Amount Bid Increment 0.00 - 27.50 2.50 USD 27.51 - 75.00 5.00 USD 75.01 - 190.00 10.00 USD 190.01 - 485.00 15.00 USD 485.01 - 975.00 25.00 USD 975.01 - 4,950.00 50.00 USD 4,950.01 - 9,900.00 100.00 USD 9,900.01 - 49,500.00 500.00 USD 49,500.01 - 9,999,999.99 10,000.00 USD

Lionel Train Track & Accessories, Appliances, Hand and Power Tools, Antiques, Automotive Parts, Collectibles Auctioneer: Scheerer McCulloch Auctioneers, Inc. Type: Online-Only Auction Dates: 8/17/2021 - 8/22/2021, ends with first lot, soft staggered close @ 7:30 p.m. EST Preview Date/Time: No preview available. For questions on specific lots, please contact Scheerer at info@smauctioneers.com. Checkout Date/Time: 9 a.m. -4:30 p.m. Tuesday, Aug. 24 (BY APPOINTMENT ONLY, there will be NO EXCEPTIONS.) Location of Pickup: 144 Corwin Lane, Fort Wayne, IN 46816 Auction pickup is by appointment only. Please call 260-441-8636, option 0, from 9 a.m. to 4:30 p.m. Monday, Aug. 23 to schedule an appointment for Tuesday pickup OR email us with preferred pickup time at info@smauctioneers.com. Payment Terms: 1) Scheerer accepts cash, credit cards with chip in person, the credit/debit card registered on the bidder's account in hibid or check for payment. 2) Bidders paying with credit card directly (at our onsite location, in person ONLY) to Scheerer will be charged 5% credit card processing fee in addition to the buyer's premium, sales tax & bid price. Credit card must have a chip. 3) Bidders may request to pay with the credit/debit card they register through Hibid. Bidders paying with this method directly to Scheerer will be charged a 1% credit card processing fee in addition to buyer's premium, sales tax & bid price. 4) Personal checks will be accepted only if credit has been established with Scheerer. Items paid for by check may be held by Scheerer for 10 business banking days. The purchaser agrees to pay Scheerer a handling charge of $25 for any check dishonored by the drawee. 5) Winning bidder agrees to pay Scheerer on or before the day of the scheduled pickup. Bidders who have not paid by the date of the scheduled pickup will be charged through their registered credit/debit card the day following the pickup day. Bidders who do not pick up items on the day of the pickup but have paid will have 3 business days to pick up, make arrangements to pick up or ship the items before the auctioneer considers the item abandoned. Buyers Premium: 13% applied to win Credit Card Convenience Fee (In-Person): 5% Credit Card Convenience Fee (Through HiBid): 1% PayPal Convenience Fee: 5% Bidders must inspect items before leaving the premises. Please bring your own packing and moving supplies. If you purchase large items such as furniture, please bring additional assistance as the auction company will not be responsible for providing assistance with large items. VEHICLE PURCHASES: ***The auctioneer STRONGLY recommends bidders schedule a professional mechanic inspection on all vehicles before bidding. Requirements to bid: -Bidder must be older than 21 and have a valid driver's license. -If the bidder is paying with check or credit/debit, bidder agrees to wait 10 days after payment is made to pick up the vehicle. -If paying with cash, vehicle will be released at the time of payment. Instructions after winning: Make payment at The Lantern with a valid ID Depending on payment: - Personal Check or Cashier's Check - Auction company will deposit the check the next business day. Once 10 days have passed, vehicle will be available for pickup. - Credit/debit/paypal - Once 10 days have passed, vehicle will be available for pickup. - Cash - Vehicle will be released at the time of payment. - Winning bidder will need to provide proof of insurance on vehicle at time of pickup. - Vehicle, title and keys will not be released without proof of insurance is provided. FIREARM(S) BIDDER & TRANSFER INFO: BIDDER MUST RESIDE IN THE STATE OF INDIANA, AND PROVIDE A VALID INDIANA DRIVIERS LICENSE. THERE WILL BE NO EXCEPTIONS. The buyer shall be responsible for the transfer fee in the amount of $25 per firearm, which is payable directly to the FFL at time of transfer. All firearms will be transferred to 2110 McConnell Dr, New Haven, 46774. Firearms pickup must be scheduled.