PENNYWORTH LLC — AUCTION TERMS & CONDITIONS)

 

These Auction Terms and Conditions (“Auction Terms”) govern all participation in auctions operated by Pennyworth LLC (“Pennyworth,” “we,” “us,” “our”).

By registering, bidding, or purchasing through any Pennyworth auction platform, the participant (“Bidder,” “Buyer”) irrevocably agrees to all terms herein.

 

If you do not agree to these terms, do not participate.

 

These Auction Terms supersede the Pennyworth Platform Sign-Up Terms where conflicts arise.

 

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1. Binding Contract

 

Placing a bid constitutes a legally binding and non-cancellable contract to:

 

• Pay the winning bid amount

• Pay the buyer’s premium of 15% (calculated on the winning bid amount at the time of auction close; percentage subject to change per auction listing)

• Pay 8.25% sales tax

• Pay all applicable fees

 

All bids are final.

Failure to pay results in:

 

Suspension or termination

Forfeiture of items

Collection actions

Legal or arbitration proceedings

Recovery of all losses and fees

 

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2. Pennyworth’s Role

 

Unless explicitly stated in the lot description:

 

• Pennyworth is not the seller

• Pennyworth does not own the items

• Pennyworth assumes no liability for item accuracy, condition, or legality

 

Disputes between buyers and third-party sellers/consignors are solely between those parties.

 

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3. Auction Rules & Administrative Authority

 

Pennyworth has full, unrestricted authority to:

 

• Reject, void, or remove bids

• Modify item content, photos, or terms

• Adjust increments or closing times

• Extend auctions due to bidding or system behavior

• Request identification

• Suspend or terminate accounts

• Refuse service

• Cancel or reschedule auctions

 

All decisions are final and binding.

 

Standard Bid Increment Policy

 

Unless otherwise listed per auction, bid increments follow platform-determined steps, which may be modified during the auction at Pennyworth’s discretion.

 

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4. Preview & Due Diligence

 

Physical inspection opportunities—if offered—will be listed in the auction description.

If no preview is offered, the buyer accepts the item without inspection.

 

Failure to inspect is not grounds for return or refund.

 

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5. Pennyworth Item Rating System™ (Non-Warranty)

 

Condition assessments are subjective opinions, not warranties or promises.

 

Condition Categories

 

New

Factory sealed. Completeness not guaranteed.

 

Like New

Appears unused. Accessories may or may not be included.

 

Open Box

Packaging opened. Item may have been removed, handled, displayed, unpacked, or lightly tested. Accessories may be missing. Cosmetic signs may be present.

 

Good

Light prior use. Fully functional to the best of our knowledge; no guarantees.

 

Fair

Wear, cosmetic imperfections, or minor issues. Sold as-is.

 

Salvage

Damaged, incomplete, or nonfunctional. No testing guaranteed.

 

Unknown

Untested or unverified.

 

Return Codes

 

R — 3-day window for significant misrepresentation

P — Pennyworth Plus return privileges

X — No returns; as-is

T — Third-party seller policy applies

 

Pennyworth retains sole authority to approve or deny returns.

 

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6. “As-Is, Where-Is” — No Warranty

 

ALL ITEMS ARE SOLD AS-IS, WHERE-IS, WITH ALL FAULTS.

 

Pennyworth disclaims:

 

• All express warranties

• All implied warranties

• All merchantability and fitness warranties

• All guarantees of completeness

• All claims regarding accuracy of descriptions or images

• All claims regarding operability or functionality

 

The buyer assumes 100% of all risks associated with the item.

 

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7. Payment Requirements

 

Full payment is due immediately upon winning.

 

Accepted payments:

Zelle • Venmo • Apple Pay • Cash

 

Items are released only after payment clears.

 

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8. Pickup Requirements

 

Buyers must pick up items during the posted pickup window.

 

Failure to pick up items results in automatic abandonment without refund.

Pennyworth receives full disposal rights:

 

• Resell

• Donate

• Discard

• Liquidate

 

Buyers waive all rights and claims to abandoned items.

 

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9. Pickup & Loading Liability Waiver

 

Buyers assume all risk of injury, property damage, vehicle damage, or loss during:

 

• Pickup

• Loading

• Transport

• Use of equipment

• Assistance from staff or other buyers

 

Pennyworth is not liable for any injuries, damages, or losses—even if caused by negligence.

 

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10. Limited Return Policy

 

Returns are allowed only for verified material misrepresentation and only within the posted return window.

 

“As-Is” (X) items are never returnable.

 

A restocking fee up to 25% may apply.

 

Pennyworth’s determination is final.

 

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11. Limitation of Liability

 

If a remedy is provided, the Buyer’s exclusive remedy is refund of purchase price only.

 

Pennyworth is not liable for:

 

• Lost profits

• Consequential or incidental damages

• Punitive damages

• Operational delays

• Technical failures

• Listing errors

• Photo inaccuracies

• Miscommunications

• Any damages exceeding the purchase price

 

All other remedies are waived.

 

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12. Force Majeure

 

Pennyworth is not responsible for delays or failures caused by:

 

Natural disasters

Government actions

Pandemics

Utility failures

Technical issues

Supply chain disruptions

Third-party errors

 

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13. Amendments

 

Pennyworth may modify these Auction Terms at any time without notice.

Continued participation constitutes acceptance.

 

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14. Mandatory Arbitration

 

All disputes must be resolved exclusively by binding arbitration in Travis County, Texas.

 

No civil lawsuits.

No class actions.

No jury trials.

 

Claims must be filed within one (1) year.

 

Each party pays its own legal fees unless Texas law requires otherwise.

 

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15. Pennyworth Plus Membership

 

Membership benefits apply only to eligible auctions and may be changed or revoked at any time.

 

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16. Account Restrictions

 

Pennyworth may deny, restrict, or terminate accounts at its sole discretion based on:

 

• Distance

• Pickup feasibility

• Payment reliability

• Prior no-shows

• Rule violations

• Operational needs

 

Participation is a privilege, not a right.

 

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17. Data & Privacy

 

Pennyworth implements reasonable security measures but makes no guarantee of uninterrupted service, data security, or protection from cyber incidents.

 

Buyers agree not to hold Pennyworth liable for:

 

• Data loss

• Unauthorized access

• System outages

• Delayed communications

• Spam filtering

 

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18. Electronic Communications

 

Buyers consent to receive emails, texts, and notifications related to bidding and pickup.

Missed messages do not constitute grounds for refund or appeal.

 

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19. Vehicles, Equipment & Regulated Items

 

Pennyworth does not guarantee:

 

• Title

• Registration

• Compliance

• Functionality

• Safety

 

Buyer assumes all regulatory and legal responsibility.

 

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20. Accessibility (ADA)

 

Buyers requiring accommodation must request it in advance.

Reasonable accommodations may be provided when feasible, but Pennyworth does not guarantee availability.

 

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21. Export Restrictions

 

Some items may be subject to local, state, federal, or international export restrictions.

Buyer assumes all responsibility for compliance.

 

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22. Intellectual Property

 

No IP rights are transferred unless explicitly stated in writing.

 

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23. Indemnification

 

Buyers agree to indemnify and hold harmless Pennyworth LLC, its owners, employees, contractors, and affiliates from any claims, damages, losses, liabilities, and costs arising from:

 

• Participation in any auction

• Pickup or transport

• Use or misuse of items

• Legal violations

• Disputes with third parties

• Injuries or accidents

 

This includes attorney’s fees and associated expenses.

 

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24. Severability

 

If any provision is unenforceable, all remaining provisions continue in full force.

 

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25. Right of Refusal

 

Pennyworth LLC may refuse service, restrict participation, or remove any user at any time without liability.

 

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26. Contact Information

 

Pennyworth LLC

3225 FM 2001, Suites 603 & 604

Buda, Texas 78610-3784

Phone: 737-500-2225

Email: admin@pennyworthauctions.com

Hours: Mon–Fri 11 AM – 6 PM; Sat/Sun 2 PM – 6 PM CT