Saturday, August 22 @ 11:00 a.m.
Auction Preview - 10:00am to 11:00am Auction Day
Auction will be Conducted at:
4445 Clemens Street, Lake Worth, Florida 33461
By Order of The United States Bankruptcy Court
Southern District of Florida - West Palm Beach Division
In Re: Royalty Investments and Finance, LLC
Case Number: 20-17476-EPK • Robert Furr, Chapter 7 Trustee
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Vehicle Information Summary Sheet
Royalty Investment & Finance, LLC
|Lot Number: ||04-7122|
|Make: ||Toyota Matrix|
|Vehicle Type: ||Station Wagon|
|Exterior Color: ||White|
|Interior: ||Gray Cloth|
|Special Equipment: ||Air-Conditioning|
|Power Door Locks|
|Power Rear View Mirrors|
|Engine Starts: ||Yes|
|Air Conditioning: ||Blowing Cold Air|
|Overall Condition: ||Average|
|Observed Mechanical Issues: ||None Known|
|Observed Damage: ||Assorted Dents & Scratches|
TERMS & CONDITIONS OF SALE
1. BIDDER REGISTRATION:
The auction is open to the public and all bidders will be required to register with the auctioneer. Bidder
Registration will begin at 9:00 A.M. on Auction Day.
The vehicles and boats being offered at this event will be available for preview one hour prior to the
auction. Because of the number of vehicles and space limitations, vehicles will remain locked until the
Auctioneer starts the auction for each. Each vehicle will be started and opened. The Auctioneer will
announce the mileage stated on odometers and indicate whether the air-conditioning is blowing cold air.
All vehicles and boats will be offered and sold in As-Is condition without warranty. Neither the Trustee
or Auctioneer makes any warranty or guarantee concerning the condition of any of the vehicles or boats
included in this auction.
3. AUCTION SITE:
The auction will be conducted at 11:00 A.M. on Saturday, August 22, 2020 at 4445 Clemens Street, Lake
Worth, Florida 33461.
4. DEPOSITS & FINAL PAYMENT:
- Payment in full is expected at the conclusion of the auction by Cash, Cashier's Checks or Money
Orders. Corporate checks will be accepted when accompanied by a current Bank Letter and
made specifically for this auction and addressed to National Auction Company guaranteeing
payment and subject to verification at the time of Bidder's registration.
- Bidders who leave the auction site without paying in full are required to make a deposit in the
minimum amount of 25% of the full purchase price and advise auction staff when they are
returning with the balance due. If no deposit is made, the Auctioneer and/or the Trustee may
resell any vehicle or boat sold during the auction.
- Balances will be due no later than Monday, August 24, 2020 no later than 12:00 P.M. Final
payment must be in the form of Cash, Cashier's Check or Money Order only.
5. FLORIDA SALES TAX:
- All sales are subject to rules of the Florida Department of Revenue.
- Florida dealers who are registering as bidders are asked to bring a copy of their Motor Vehicle
License and Resale Certificate to the auction which must be presented at the time of Bidder
- Florida Sales Tax for motor vehicles is payable at the time of vehicle registration and the Motor
Vehicle Title is transferred.
- Non-Dealer Purchasers will be required to transfer the Certificate of Title into their name. A
Licensed Tag Agency will attend the auction to transfer titles. Purchaser’s will be required to pay
the applicable fees to the State of Florida ($73.50, County Fee ($4.75) and Agency Fee ($18.00)
for a total of $96.25. This fee must be paid directly to the Tag Agency apart from the total
purchase price for each vehicle and/or boat.
6. FORM OF AUCTION:
- This auction is conducted pursuant to the Order of the United States Bankruptcy Court, Southern
District of Florida on behalf of Robert C. Furr, Bankruptcy Trustee for Royalty Investments and
- It is expected the Trustee or their Representative will attend the auction in person or by Cell
Phone. Confirmation of top bid prices is expected following conclusion of the event.
7. BUYER'S PREMIUM:
- A 10% Buyer's Premium will be added to all top bids and included in the total purchase price.
- The following examples are provided for your information:
Bid Price: $5,000.00 Buyer’s Premium: $500.00 Total Price: $5,500.00
Bid Price: $7,500.00 Buyer’s Premium: $750.00 Total Price: $8,250.00
8. METHOD of SALE:
- The method and order of sale will be at the auctioneer's discretion.
- Determination and recognition of bid increments will be at the discretion of the Auctioneer.
- In the event items are offered at the auction and bids are not received, the Auctioneer may
remove them from the order of sale and offer them at a later time or await specific instructions
from the Bankruptcy Trustee or their Representative.
- The Auctioneer and Trustee reserve the right to add or delete any item (s) from the auction. All
top bid prices are subject to confirmation of the Trustee.
- The terms and conditions of sale may be changed by announcement from the auction podium with
any such announcement taking precedence over previously printed materials or oral statements
- Bids will only be accepted from bidders who have registered with the Auctioneer.
- In the event of disputes between bidders or tie bids, the Auctioneer's decision will be final.
- The Auctioneer reserves the right to ask for additional deposits from any bidder during the course of the auction. In the event a deposit is requested and not given, vehicles previously sold may be subject to resale at the option of Credit Union or Auctioneer.
- All information contained in the Auction Flyer, Post Cards, newspaper ads, web site or furnished by staff members is believed to be correct but is not guaranteed. Bidders must rely upon their own information, judgment and inspection of the vehicles offered.
- Information provided on the Auctioneer’s website regarding the condition of every vehicle and boat
included in the auction is the opinion of the Auctioneer and/or Staff Member. For example, it is
possible the air-conditioning could be blowing cold air at the time the vehicle was photographed
but may not be working at the time of the auction. Every effort was made to provide accurate
information, however, the vehicles and boats are being offered and sold in As-Is condition without
guaranty or warranty of any kind.
- The auction may be electronically recorded to provide a record of the event. The recording is the property of National Auction Company and Bankruptcy Trustees named in this document.
- Purchasers are not permitted to resell vehicles purchased during the auction to third parties or reassign auction clerking tickets to other bidders.
- In the event a Top Bidder fails to make final payment, any deposit given will be subject to forfeiture.
9. CERTIFICATES OF TITLE:
- Certificates of Title are available for most of the vehicles included in this auction.
- Certificates of Title will be delivered to top bidders upon receiving the full sales price. Open titles
will not be delivered to any purchaser (s) except Licensed Motor Vehicle Dealers.
- All purchases must be removed from the premises as soon as possible. Arrangements for
removal of vehicles must be scheduled through George Richards of National Auction Company.
- Purchases can be removed on auction day after payment in full until 5:00 P.M. but no later than
Monday, August 24, 2020 by 5:00 P.M. Vehicles left after that time may be subject to storage
charges. Two of the boats included in this auction do not have trailers. Specific arrangements
must be made with George Richards in order to pick up these boats.
- Purchasers are responsible for advising National Auction Company who is authorized to remove
vehicles or boats. Vehicles or boats removed by contracted transporters or tow trucks must have
written authorization for removal signed by the purchaser and accompanied by a copy of the paid
From Florida Turnpike: Exit at Lake Worth Road (Exit 93). After paying toll, turn left on Lake Worth Road. Continue to
Military Trail and turn left at the traffic light. Continue north on Military Trail approximately 1 mile
to Clemens Road. At Clemens Road, turn right - watch for auction signs.
10. AUCTIONEER CONTACT INFORMATION:
If additional details are needed please contact George Richards at (954) 658 5033 (cell) or firstname.lastname@example.org (E mail).
- Palm Beach County continues to be under an Order issued in connection with the COVID 19
Virus. Anyone attending this auction will be expected to be in compliance with this Order and must
wear a face covering (mask).
- Under the stated conditions of the Palm Beach County Order, social distancing is suggested. It
is expected those who attend this auction will comply with this requirement.