Palumbo’s Restaurant, Lounge & Banquets

Online Public Auction – Palumbo’s Restaurant

Auction Dates: December 3, 2024 – December 17, 2024

1. Peter Costanzo Auctioneers has put forth every effort in preparing the catalog for this auction to provide accurate descriptions of all items. All property is sold “as-is” and it is the buyer’s responsibility to determine the exact condition of each item. Printed statements or descriptions by staff are provided in good faith and are matters of opinion. All sales are FINAL and there are absolutely NO refunds.

 

2. If you are interested in participating in our online auctions you must register online. Please provide an accurate phone number and email address upon registering. After you request to bid, an auction employee will take the authorized hold plus the 3% credit card processing fee with the credit card you placed on file. NJ bidders are required to post a $250.00 authorized hold deposit, Out-of-State bidders are required to post a $500.00 authorized hold deposit & International bidders are required to post a $5,000.00 authorized hold deposit. The authorized hold deposit may be waived for long-time well-established bidders at the auctioneer’s discretion. (PLEASE NOTE: AN ADDITIONAL HOLD DEPOSIT OF UP TO 25% MAY BE REQUIRED, AT THE DISCRETION OF THE AUCTIONEER, EITHER DURING OR AT THE CONCLUSION OF BIDDING ON CERTAIN LOTS. THE DEPOSIT IS AN AUTHORIZED HOLD ONLY. YOUR CREDIT CARD WILL NOT BE CHARGED AT THIS TIME. IF YOU ARE NOT A WINNING BIDDER, THE MONEY WILL BE RELEASED FROM THE HOLD WITHIN APPROXIMATELY 24 HOURS OF THE CLOSE OF SALE).

 

3. All persons requesting to bid MUST complete the registration process at least one hour prior to the close of the auction (Tuesday, December 17, 2024, by 12 Noon, EST). Bid requests that are received after this time cannot be processed.

 

4. In order to better serve our customers, all bidders must provide their name, address, daytime phone number, and email address where they can be contacted in order to assure good contact between Peter Costanzo Auctioneers and the bidder throughout any transactions.

 

5. By registering to bid, all persons acknowledge to have full knowledge of these “Terms and Conditions of Sale” and agree to be bound thereby. By placing a bid, all persons acknowledge that they are agreeing to be bound by all Terms & Conditions of this auction sale.

 

6. Bidding will open on Tuesday, December 3, 2024, at 9:00 AM and lots will start closing on Tuesday, December 17, 2024, at 1:00 PM. Two lots will close every 1-minute beginning with Lot Number 1.

 

7. Bid Extension:The closing of a lot is automatically extended 3 minutes whenever a bid is placed during the last 3 minutes of the item’s closing time.

 

8. On-site Previews will be held on Thursday, December 12, 2024, from 10:00 AM to 2:00 PM, Saturday, December 14, 2024, from 9:00 AM to 1:00 PM, & Monday, December 16, 2024, from 10:00 AM to 2:00 PM. All previews will be held at 4057 Asbury Ave. Tinton Falls, NJ 07753. Look for Auction Signs. Catalogs will be available on-site.

 

9. BUYER’S PREMIUM: There is an 18% Buyer’s Premium added to the final bid price.

 

10. SALES TAX:It is our opinion that this sale is NOT subject to 6.625% NJ Sales Tax. However, if deemed taxable in the future, the buyer will be responsible to pay NJ State Sales Tax when invoiced.

 

11. PAYMENT: Cash, wire transfers, and bank checks are the preferred methods of payment. For any cash payments over $10,000, the purchaser is required to fill out an IRS Form 8300 at the time of payment. Credit cards will also be accepted up to a maximum of $3,000. No Debit Cards will be accepted. There is a 3.0% service processing fee for paying with credit cards through the invoice link or in person during pickup. Bidders who elect to pay their balance by credit card agree to relinquish any and all rights to charge backs. All Sales are Final. No returns or adjustments will be made after the auction. You will be emailed an invoice after the auction has ended. Your invoice will include instructions for wire transfer payments, a link to pay by credit card & other payment information.  If wire transfers or other forms of payment are not received by 3 PM EST Thursday, December 19, 2024, credit cards provided for registration approval may be charged the full amount of the purchase, if necessary.

 

12. REMOVAL/PICK-UP:PURCHASERS MUST REMOVE THE MERCHANDISE FROM THE PREMISES AT THEIR OWN RISK & LIABILITY. Peter Costanzo Auctioneers DOES NOT provide any shipping.Merchandise is located at and must be picked up on-premises at 4057 Asbury Ave. Tinton Falls, NJ 07753. Look for Auction Signs. All purchases are made at the purchaser’s risk and the auctioneer is not responsible if all or any part is lost, stolen, damaged or destroyed from any cause. Items that are paid for in full but missing at the time of removal/pick-up may be remedied by either item substitution, if available, or a refund for the lot. Auctioneer shall not be liable for non-delivery to the purchaser of any lots. Shipping arrangements and cost are the BUYER’S SOLE RESPONSIBILITY. Removal and rigging are to be at the purchaser’s own expense, risk, and liability. All rigging and delivery arrangements are strictly the responsibility of the purchaser and rigging company. Peter Costanzo Auctioneers takes no responsibility for these arrangements whatsoever. PURCHASERS MUST SUPPLY THEIR OWN BOXES, PACKING MATERIALS & LABOR.

 

13. REMOVAL PICK-UP DATES & TIMES: Purchasers must schedule the removal of items with Peter Costanzo Auctioneers. Removal days and times will be Wednesday & Thursday, December 18 & 19, from 9:00 AM to 3:00 PM. Please call the auction company to schedule pick-up. All items must be picked up by 3:00 PM Thursday, December 19, 2024, unless other arrangements have been made. Any items not picked up in the time allotted will be subject to storage fees of $35 per day, or considered abandoned.

 

14. In the event of a billing error the buyer is obligated to pay any deficiency upon presentation of a corrected bill.

 

15. Auctioneer reserves the right to resolve any dispute regarding bids or bidders. The auction company reserves the right to refuse any bid or bidder, the auction company is not obligated to approve all bidder registration requests.

 

16. Record of the sale is being kept by the auctioneer & bookkeeper and will be taken as final in the event of any dispute.

 

17. THIS LISTING IS ONLY A GUIDE AND ACCURACY IS NOT GUARANTEED. EVERY ITEM WILL SELL “AS IS” “WHERE-IS”. PLEASE INSPECT INVENTORY & EQUIPMENT PRIOR TO BIDDING. ALL SALES ARE FINAL. No sale shall be invalidated by reason of any defect or inaccuracy in any of the lots by reason of their being incorrectly described or photographed in this listing or elsewhere and no liability shall be borne by the Auctioneers in respect of any such fault or errors. These listings have been prepared only as a guide based on information from sources generally believed to be reliable and from the Consignor, but the accuracy thereof cannot be guaranteed or warranted by the Auctioneers, and you hereby agree to hold harmless Peter Costanzo Auctioneers and its employees for any errors or omissions regarding the item(s) being sold. This information includes but is not limited to written and/or oral descriptions, year, make, model, machine or engine hours, physical condition, options, features, photographs, and other data pertinent to the value of the item. Bidder acknowledges that it is their responsibility to inspect all items and to make their own inquiries. There shall be no guarantees or warranties, expressed or implied, statutory, or otherwise, of any nature whatsoever. Each, and every, lot will be sold “as is” “where is”. Specifically, but not to restrict the generality of the foregoing, the Auctioneers make no representation or warranty on any of the lots which are the subject of the auction.

 

18. USE OF SITE: The inventory will be offered with online interactive bidding on Peter Costanzo Auctioneers website, powered by Nextlot. Peter Costanzo Auctioneers and Nextlot cannot and will not be held responsible for any interruption in service, errors, and/or omissions caused by any means and does not guarantee continuous, uninterrupted service or use of the site. Bidder acknowledges that this auction is conducted electronically and relies on hardware and software that may malfunction without warning. Peter Costanzo Auctioneers Inc., in its sole discretion, may void any sale, temporarily suspend bidding, and re-sell any item/lots that were affected by any malfunction.

 

19. PURCHASER COMPLIANCE: If the purchaser fails to comply with any of the stated and printed “Terms and Conditions of Sale” including but not limited to full payment, method of payment, and removal of purchased goods, the auctioneer at his option may declare the purchaser in default without notice and retain all monies paid as liquidated damages and pursue legal remedies available for enforcement of purchaser’s performance or to recover losses caused by purchaser’s default. These losses may include, but are not limited to, restocking, moving, storage, and any and all expenses related to the reselling of the goods and any losses on any subsequent sale.

 

20. As a winning bidder for items in the December 17, 2024 auction conducted by Peter Costanzo Auctioneers, the purchaser agrees to be bound by all of the auction terms regarding payment and removal of purchased items. Purchaser has accepted these terms and conditions upon registration for bidding. Purchaser acknowledges that the removal of purchased items is their sole responsibility. All purchases are made at the purchaser’s risk and the auctioneer is not responsible if all or any part is lost, stolen, damaged, or destroyed from any cause. Items that are paid for in full but missing at the time of removal/pick-up may be remedied by either item substitution, if available, or a refund for the missing items. Auctioneer shall not be liable for non-delivery to the purchaser of any lots. Purchaser enters the property at their own risk and liability and holds the Auction Co. harmless for any damage to goods during removal. Purchaser also holds the Auction Co. harmless and free of any liability whatsoever for any injury or claims of any kind by any person that may arise during the previews and/or removal of any item or while on the premises at 4057 Asbury Ave. Tinton Falls, NJ 07753.

SALE MANAGED & CONDUCTED BY

PETER COSTANZO AUCTIONEERS

(732) 776-7222 & (732) 810-2187

www.petercostanzoauctioneers.com