Online Only Auction
1973 Cessna 500 Citation Jet Aircraft N31LW
Tuesday, August 6, 2019 @ 12:00 Noon
This is a rare opportunity to own a dynamic single pilot jet aircraft!
Purchased in 2006, this aircraft has been immensely enjoyed by the pilot and his family!
Long Wing/2x GNS 430/EX500 MFD/DMI/ADF/Auto Pilot/HSI
Serial # 5000083, AFTT 7285 Engines
Weight - Less than 12,500lbs, Speed 301 MPH,
Mode S Code 050642607/A34587
Engine - P&W Canada JT15D-1A (Turbo Fan)
10% Buyer's Premium in effect for this auction. 3% Sales Tax is Applicable.
PROPERTY IS OFFERED UNDER THE SPECIFIC TERMS PROVIDED. PLEASE READ AND REVIEW THE TERMS THOROUGHLY PRIOR TO BIDDING ON AIRPLANE.
ALL PROPERTY IS SOLD AS IS WHERE IS WITH NO WARRANTY, EXPRESSED, WRITTEN OR IMPLIED and ALL SALES ARE FINAL: Taylor Auction & Realty, Inc. has put forth every effort in preparing the catalog for this auction in regard to disclosing facts and any known defects associated with items prior to the close of the auction.
All terms are set by the Seller.
Purchaser and Seller acknowledge and agree that the only auctioneer/broker involved in this transaction is Taylor Auction & Realty, Inc., and is acting as agent for the Seller in this transaction. Taylor Auction & Realty, Inc. is not acting as agent in this transaction for the Purchaser.
Taylor Auction & Realty, Inc. defines the merchandise in advertising from the description given by the seller/consignors but makes no representations as to correct description, authenticity, genuineness, or defects herein, and makes no warranty in connection therewith. All information contained in printed statements or descriptions by staff are provided in good faith, are matters of opinion and made with the auction company’s knowledge and information from seller’s statements and general observations but are not guaranteed. Taylor Auction & Realty, Inc. is not responsible for any errors or omissions in the description of the merchandise. In no event shall Taylor Auction & Realty, Inc. be held responsible for having made or implied any warranty of merchant-ability or fitness for a particular purpose. It is the responsibility of the Bidder/Buyer to thoroughly inspect the item(s) and to judge solely the information provided, including but not limited to kind, condition, age, year, model, serial number, etc. Any bidder who bids off-site understands and acknowledges that they may not be able to inspect an item as well as if they examined in person. All prospective bidders when registering for the auction warrant and represent that they have either inspected the item or have had the opportunity to inspect the lot and will accept this item in its current condition and location.
In regard to Inspection, please call Ty Gill at Top Flight Aviation at 601.273.0215. Plane is located at Picayune MS Airport – FAA Identifier “MJD”
A 10 % Buyer's Premium will be added to your final bid to equal the total price.
Buyer's Premium example:
Bid price ($50,000.00) + 10% Buyer's Premium ($ 5,000.00) = Total ($ 55,000.00)
INVOICES: Winning high bidders are notified by email when all items in the auction have closed. Bidders are responsible for checking their email to receive notification that they have won a lot(s).
PAYMENT and REMOVAL TERMS:
Payment on this auction will need to be completed by Wire Transfer. The Designated Escrow Agent for this transaction is Powell Aircraft Title, Escrow and Data Services. For complete details in regard to payment please view the Document named Powell Aircraft, Title Escrow and Data Services. Electronic bank transfers for final payment of purchase must originate from an account of the registered buyer or the business the buyer represents. The transfer must include the bidder number and the invoice number and the “N” number of the aircraft. (No other payment methods available for this auction)
Arrangements in regard to payment and removal must be detailed to Taylor Auction & Realty, Inc. after receipt of the invoice. At removal, it is the buyers' responsibility to check the condition of the lot/ item before he bids.. We will not be held responsible for any issues discovered after the item after the auction closes or after the item leaves the auction location. Bidder agrees that everything is sold AS IS and that no return or refund will be granted on the item they purchase. Taylor Auction & Realty, Inc. will not be held accountable for buyer's additional expenses such as loading cost, commission, transportation, mechanical repair fees.
If you are an OUT OF STATE bidder and are the successful purchaser, you may quality to sign the Certificate of Interstate Sales. This form is required by the Mississippi State Tax Commission for out- of- state buyers in regard to exemption of Mississippi Sales Tax on only certain qualified items. Whether you qualify or not to use this certificate will be determined by Taylor Auction & Realty, Inc. the seller. This form is submitted to the Ms. Dept. of Revenue and then sent to your state for payment of sales tax.
Download the Certificate of Interstate sales from the website below: http://www.dor.ms.gov/Forms/sales_72315.pdf
By scheduled appointment only after closing. Removal of purchased items shall be at the expense, liability, and risk of the purchaser. No abandonment of purchased items is allowed. Purchaser will be responsible to pay the full cost of removal or disposal of abandoned items. If Purchaser fails to pay for their items, they agree to pay the difference in price if the item or items are resold. All bids and payments must be made in U.S. dollars (USD). No refunds for lost or stolen items will be made. If you are unable to make the removal dates, please inform us at (662-226-2080) and we will work with you if possible. Any item not picked up on the day(s) established for removal, your credit card will automatically be charged for the applicable storage /handling fees. If your credit card will not process, you will be blocked from the system. This includes all auction companies that are a part of the Marknet Alliance Organization www.marknetalliance.com. This means, you will not be able to bid on any online auction of auction companies associated with Marknet
CARRIER SERVICES: Taylor Auction & Realty, Inc. will assist the carrier that the buyer employs for freight services. Buyer must inform the auction firm of freight arrangements.
BIDDING TERMS AND BID ACCEPTANCE: All bids are subject to acceptance by the AUCTIONEER/AUCTION COMPANY.
Registration: In order to better serve our customers, all bidders must provide their name, address, daytime phone number or cell number, and email address at which they can be contacted. Credit card and Driver’s License Information is required at registration also. This is to insure good communication between Taylor Auction & Realty, Inc. and the bidder throughout any transactions. Each bidder's identity will be verified. Bidding rights are provisional, and if complete verification is not possible, Taylor Auction & Realty, Inc. will reject the registration, and bidding activity will be terminated.
Our online auctions move quickly! If you are interested in bidding, bid quickly, especially at the close of the bidding time. The bidding software will notify bidders by email, text or both if checked at registration when they have been outbid. Bidders may also check if they have been outbid by refreshing the individual lot information or the entire screen. Due to varying internet connections/speed, please place a max bid or constantly monitor the auction at close of bidding. Sometimes email notifications and text messages can be delayed. If you win you will be notified by email. It is recommended that you watch the auction at the extended bidding time session to make sure you are the high bidder.
By placing a bid, you agree to all of the terms and conditions which may be set forth by each individual auction company and expressly acknowledge and affirm that you have read and are familiar with the terms and conditions of each individual auction company as well as each terms and conditions of each individual auction. The Auctioneer/Auction Company has the sole discretion to advance the bidding and may reject any and all bids which in the Auctioneers sole discretion does not advance and/or injurious to the auction, including but not limited to minimal suspicious and/or suspect advances. The Auctioneer shall have sole discretion in deciding the successful bidder in the event of a bidding dispute. By placing a bid, you acknowledge that your bid is a legally binding offer to purchase the item/property being auctioned. Times shall be of the essence. Taylor Auction & Realty, Inc. reserves the right to update, lower bids, withdraw bids or re-catalog items in this auction. Auction company employees may bid on auction items for personal consumption. Winning high bidders are notified by email when all items in the auction have closed. Bidders are responsible for checking their email to receive notification that they have won a lot(s). Auction company employees and/or Auction Company may bid on auction for absentee bidders or at the direction of interested bidders who refuse to create an online account but desire to bid at the auction.
Our auctions use the Auto-Extend.
The basic rule is there must be a minimum of 5 minutes for a bidder to react to a bid.
If there is a bid placed in the final 5 minutes for an item, the ending time for that item is automatically extended to allow the 5 minute reaction time. If another bid is received during that 'extended time', the ending time is extended again--and again, if necessary, for 5 additional minutes for each extension. This continues and repeats until there are no more bids submitted. This 'Auto-Extend' feature allows the bidding process to be fair for every bidder and gives all bidders a chance to respond to any last-minute snipe bid(s). Items are Auto-extended ONLY if a bid is placed within 5 minutes of the scheduled closing time.
Internet bidders who desire to make certain their bids are acknowledged should use the internet bidding feature and leave their maximum bid. When you bid your max, the current bid price does not automatically go to your max bid. Someone else has to bid to increase the current price and the computer will automatically bid up to your max in the increments specified. Max bids are taken in the order of date and time when placed.
REFRESH YOU SCREEN:
Please remember to REFRESH your screen to find out if you have been outbid. To refresh your screen, you need to click on `RESET CATALOG` or REFRESH ALL for the whole page to refresh or use the refresh button on your browser. This is most important at the end of the auction. Please call with any questions 662-226-2080. YOU MUST REFRESH THE SCREEN TO KEEP THE TIME ACCURATE.
BROWSER INFORMATION: Google Chrome and Mozilla Firefox is the preferred Internet Browser for our bidding platforms. Because Microsoft is phasing out support for Internet Explorer 8, 9 and 10, bidders are more likely to have issues with Internet Explorer when using our website.
SERVER & SOFTWARE TECHNICAL ISSUES: Taylor Auction & Realty, Inc. is providing online bidding as a service to Bidder through a third party provider. Bidder acknowledges and understands that this service may or may not function correctly the day of the auction. Under no circumstances shall Bidder have any kind of claim against Taylor Auction & Realty, Inc. or provider if the internet service fails to work correctly. Taylor Auction & Realty, Inc. will not be responsible for any missed bids from any source. In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Taylor Auction & Realty, Inc., reserve the right to lower the starting bids, extend bidding, continue the bidding, or close the bidding or increase or decrease the extended amount at the end of the auction. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor Taylor Auction & Realty, Inc. SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Email notifications will be sent to registered bidders with updated information as deemed necessary by Taylor Auction & Realty, Inc.
SOLE AND EXCLUSIVE VENUE & JURISDICTION OF ALL DISPUTES: Any and all claims, including debt collection and all other disputes of any kind, nature, or character whatsoever arising from this auction sale shall be brought in the appropriate court of Grenada County, Mississippi, and shall be governed by the laws of the State of Mississippi; Seller, Bidder and Buyer each individually and collectively by virtue of participating in the Auction conducted by Taylor Auction and Realty, Inc. do hereby irrevocably agree to submit themselves and any claims to the jurisdiction and venue of the courts of Grenada County, Mississippi, and the laws of the State of Mississippi, which shall be the sole venue and jurisdiction for the resolution of any claims between them and Taylor Auction and Realty, Inc. regardless of the nature or location of the property sold/purchased or the physical location of the Auction. The successful purchaser agrees to pay any and all reasonable attorney fees and costs incurred by the Auction Company, the seller and/or their servants, agents or employees in the commencement or defense of any actions hereunder as well as in the collection of any obligations hereunder. The purchaser agrees that a fee of 2% per month be added to the balance of any unpaid balance due the Auction Company and any other costs or losses incurred by the purchasers’ failure to adhere to these terms.
HOLD HARMLESS: Buyer and or bidder agrees that Taylor Auction and Realty, Inc. is a representative of the Seller and agrees to hold harmless and indemnify Taylor Auction & Realty, Inc. and its Agents, Owner, Directors, Employees and its Representatives from any and all claims, demands, expenses, damages which bidder/buyer may claim on account of or any way growing out of said auction and to look solely to the Seller for any remedy demanded.
Bidder Acknowledgment: Bidder acknowledges that no relationship of any nature or type, agent, employee, independent contractor or otherwise is created between bidder and auctioneer, affiliated auction companies, affiliated software companies and/or any servant, agent or employee of the same by bidder’s participation in this auction. Bidder acknowledges and agrees that Auctioneer is acting solely as the agent for the seller in this auction.
Bidder Responsibilities: Bidder responsibilities include, but are not limited to: Bidders agree to keep their username and password confidential, as they are responsible for ANY and ALL activity involving their account. When using the web site you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges.
Guaranty Agreement in regard to bidding for a business entity: By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees payment to Taylor Auction & Realty, Inc. and completion of the transaction.
By bidding on any item, the bidder shows acceptance of the terms of the auction.
Reasonable Accommodation: Taylor Auction & Realty, Inc. as an employer and professional service organization which has no intention to discriminate on the basis of disability or other legally prohibited basis. We are an affirmative action, equal opportunity employer and service provider. Our decisions are made without regard to race, color, religion, sex, disability, sexual orientation, gender identity, national origin, veteran status, or genetic information. Accommodations are made in regard to hiring employees or assisting clients or customers in regard to our services unless the accommodation will impose an undue hardship.
Requests for reasonable accommodations should be directed to Ruthie Taylor @ [email protected]
Taylor Auction & Realty, Inc.
INFORMATION IS SUBJECT TO CHANGE:
Announcements in the form of updated terms posted on the website will take precedence over any prior viewed terms at registration, previously material or any other oral statements made. Please view the terms periodically for any changes.