SHOP.IMS.COM AUCTION RULES, TERMS, AND CONDITIONS
* PLEASE READ THE FOLLOWING TERMS AND CONDITIONS CAREFULLY PRIOR TO SUBMITTING A BID IN THE AUCTION. PLACING A BID CONSTITUTES ACCEPTANCE OF THE TERMS AND CONDITIONS BELOW. *
Am I required to have a shop.IMS.com account to submit a bid?
- Yes, in order to bid, a customer must first have an account with shop.IMS.com. Click the small "person” image in the top right corner of the header to create an account. Once you are logged in to your account, you can enter a bid on an item. There is no registration fee associated with creating an account, and you do not need to enter any credit card information to register. Only those bidders who win the auction must provide their credit card information.
When does bidding open?
- Assuming that you have created an account and are logged in to shop.IMS.com, you may begin bidding as soon as the auction goes live at 8:00 AM EDT on August 21, 2020. Once a bid is placed, it may not be retracted for any reason.
How does the bidding process work?
- All bids must be submitted online through the shop.IMS.com bidding system. There is no other method of placing a bid. Each auction item will have a starting bid as posted in the listing. All bids must be expressed in United States Dollars. The incremental amount between bids will be stated on individual product pages. Auctions for the two autographed diecast and the two autographed programs must reach at least $500 each to be awarded to highest bidder. Auctions for the two autographed Gasoline Alley signs, the autographed wood INDYCAR sign, and the autographed wood IMS sign must reach at least $250 each to be awarded to highest bidder.
- The shop.IMS.com online auction system is a “specific bid” system. In this bidding system, when a customer enters a bid amount, that amount is the amount that he or she agrees to pay for the item. Once a customer submits a bid for the desired bid amount (in increments listed on the individual product pages), the bid cannot be retracted for any reason. If another customer bids on the same item, then that newly placed bid is now the top bid. Any customer may enter a bid at any time during the auction’s duration, and a customer may place a higher bid on top of their own current winning bid if he or she desires. The auction will close promptly at 11:59 PM EDT on August 23, 2020. At the time the auction closes, the customer with the final highest bid will win the auction item. There is no extended bidding period. We reserve the right to accept or refuse any and all bids. Title shall not pass to the successful bidder until all invoices are paid in full. It is the responsibility of the buyer to provide adequate insurance coverage for the items once they have been delivered to a common carrier or third-party shipper.
What am I responsible for if I have the winning bid?
- By submitting a bid, the customer acknowledges and agrees to enter a legally binding contract to purchase the auction item from shop.IMS.com. The customer is responsible for reading the full item listing, bidding instructions, accepted payment methods, and for paying the full bid amount as well as any applicable shipping, handling, and tax charges associated with the purchase. The customer with the winning bid is bound by this contract to pay for the auction item at the final winning bid price.
- Immediately upon the close of the auction, the winning bidder will be sent an email with an invoice in the amount of the winning bid expressed in United States Dollars. THE WINNING BIDDER MUST SUBMIT THEIR CREDIT CARD INFORMATION WITHIN FIVE (5) DAYS OF RECEIPT OF THE INVOICE IN ORDER TO MAINTAIN THE WINNING BID. If the winning bidder fails to submit payment through the invoice within five (5) days following receipt of the invoice, we will contact the second-place bidder. At that time, the second-place bidder will be considered the winner of the auction, and the above steps will be followed with the second-place bidder.
- The customer that wins the auction must submit their credit card information online after receiving an electronic invoice by email. By entering his or her credit card information, the winning customer is authorizing shop.IMS.com and its designees to charge his or her credit/debit card in accordance with the payment terms outlined in these terms and conditions, or as otherwise agreed upon by the parties hereto, for the item(s) reflected on the auction item invoice.
How much will I be charged for shipping?
- Shipping and tax charges will be calculated based on the winning bidder's shipping address, unless otherwise specified. Receiving time will vary based on shipping address.
How can I ensure the item’s authenticity?
- Each piece of memorabilia available for auction is collected, authenticated, and officially licensed by the IMS, and comes with a certificate of authenticity. Shop.IMS.com will be the final judge of the authenticity of each and every piece it sells. We are not bound by the opinion of outside authenticators and so-called experts.
Can I return an auction item?
- Due to the collectible and valuable nature of the auction memorabilia, the items are non-returnable and there are no refunds. This policy is in place to ensure and uphold the integrity and authenticity of all memorabilia listed in the auction. All sales are final.
Choice of Law
- Any and all disputes or conflicts arising between the Bidder and shop.IMS.com and/or out of this agreement shall be decided under the law of New York. Bidder consents to personal jurisdiction in the State of New York, New York County and agrees that exclusive jurisdiction and proper forum and venue reside within the State of New York, New York County and/or the Federal District Court of New York at the discretion of shop.IMS.com. In the event of a dispute, the bidder agrees to pay all of shop.IMS.com’s reasonable attorney’s fees and cost involved in collection of funds, plus 1.5% interest per month on any unpaid balance, accruing from the original due date, until the date all balances are paid.
Acceptance of Conditions
- Placement of a bid in this auction constitutes acceptance of these terms and conditions.