U.S. District Court Ordered Dispersal of Thoroughbred Horses

February 22, 2019 to February 25, 2019


  • Terms & Conditions

General Terms and Conditions

Welcome

By requesting a bidder's number for any given auction, you are bound by the terms and conditions of the auction, whether you have read them or not.

Terms may vary for the different auctions produced by Professional Horse Services, LLC or Flashpoint Bloodstock, LLC.

By requesting a bidder's number for any given auction, you are assumed to have read and accepted the terms for that auction.

 

Welcome to Flashpoint Bloodstock LLC at SportHorseAuctions.com 

U.S. District Court Ordered Dispersal of Horses

COMMODITY FUTURES TRADING COMMISSION, and STATE OF UTAH DIVISION OF SECURITIES

v. RUST RARE COIN INC., a Utah corporation, and GAYLEN DEAN RUST, et al.

Jonathan 0. Hafen, Esq., Parr Brown Gee & Loveless, Temporary Receiver

ALL Horses Sell “AS IS” and with NO Warranties.

7% Buyer`s Premium charged on all purchases

This is High Performance Marketing for the digital age. Please contact Flashpoint Bloodstock at 866-652-7789 for assistance.

Auction Description

The Flashpoint Bloodstock Internet Auction is an ALL ONLINE Auction 

For more information visit www.SportHorseAuctions.com.

PAYMENT: Payment is due 3 (three) business days following the auction, no later than THURSDAY, FEBRUARY 28, 2019.

PAYMENT METHODS: Pay by CREDIT CARD or by BANK WIRE TRANSFER.

Buyer’s Premium: A Buyer’s Premium in the amount of 7% of the successful final bid of any horse or pony purchased will be added to the Final Bid price to determine the Total Price of the Horse.

Sales Tax: Buyers residing in West Virginia will be required to pay West Virginia Sale Tax of 6% of the Total Price, unless Buyer is tax exempt and appropriate forms have been completed.

Currency: All Transactions are in United States Dollars (USD)

Terms

Terms and Conditions

U.S. District Court Ordered Dispersal of Horses

COMMODITY FUTURES TRADING COMMISSION, and STATE OF UTAH DIVISION OF SECURITIES

v. RUST RARE COIN INC., a Utah corporation, and GAYLEN DEAN RUST, et al.

Jonathan 0. Hafen, Esq., Parr Brown Gee & Loveless, Temporary Receiver

ALL Horses Sell “AS IS” and with NO Warranties.

Please read the Terms & Conditions of Sale

Please read these Terms and Conditions carefully, as they will govern your use of FlashpointBloodstock, LLC’s ("Flashpoint") website and auction services. Those who bid are bound by theseTerms and Conditions, as amended by any posted notices, which together form the contract of sale between the successful bidder ("Buyer"), Flashpoint, and Jonathan 0. Hafen, Esq., Parr Brown Gee &Loveless, Receiver ("Receiver").

When bidding on any horse offered by Flashpoint, the Buyer andReceiver indicate acceptance of the following Terms and Conditions. Any participation in the auction binds you to agreement of these Terms and Conditions, whether or not you read or understand saidTerms and Conditions. If you do not wish to be bound by these Terms and Conditions, you may not use the Flashpoint website or auction services.

All horses are sold are subject to the following Terms and Conditions which shall control the mutual, reciprocal duties among Flashpoint, the Receiver, and the Buyer.The Bidder acknowledges that he or she has read the Terms and Conditions of Sale.The Bidder acknowledges that in the event that the Bidder’s offer is accepted, that the Terms and. Conditions of Sale shall be part of the sales contract.

COLLUSION, BID-RIGGING, FRAUD - Any attempt to unfairly affect the outcome of a sale shall because for immediate disqualification as an eligible Bidder. Use of a straw buyer for purposes of purchasing a horse for someone who is barred from making the purchase themselves shall be viewed as two or more persons conspiring either to commit an offense against the United States, or to defraud the United States, or any agency thereof in any manner or for any purpose, and where one or more of such persons did any act to effect the object of the conspiracy, each shall be fined under this title or imprisoned not more than five years, or both (18 U.S.C. § 371).

STATEMENTS OR ENTRIES GENERALLY - Whoever knowingly and willfully falsifies, conceals or covers up by any trick, scheme, or device a material fact, or makes any false, fictitious, or fraudulent statement or representation; or makes or use any false writing or document knowing the same to contain any materially false, fictitious, or fraudulent statement or entry, shall be fined under this title or imprisoned not more than five years, or both (18 U.S.C. § 1001).

Terms

1. PURPOSE. The purpose of these Terms and Conditions is to: a) establish sale procedures; b)facilitate informed bidding; c) provide for orderly settlement of finances in completion of purchases; d)allocate rights, responsibilities, and risks; and e) provide for orderly dispute resolution.

2. AUCTION SITE USER AGREEMENT: Buyer and Receiver agree to these Terms and Condition sand affirm under penalties of perjury that all information furnished is true and correct. Buyer andReceiver represent and agree that he/she is of legal age and is competent to form a binding contract.

3. REFUSAL OF SERVICE: Flashpoint and www.sporthorseauctions.com reserve the right to reject any bid or refuse to issue a bidding number to anyone for any reason.

4. BUYER’S PREMIUM: Buyers of horses in this auction will pay a Buyer’s Premium to Flashpoint in the amount of 7% of the total price of any horse purchased. The Buyer’s Premium is added to the winning, final bid to establish the purchase price.

5. BUYER’S UNDERSTANDING: By placing a bid in this auction, Buyer agrees: a) to be responsible for any purchase made or actions taken by an Agent authorized by Buyer to act on Buyer’s behalf; b)that registration to bid is not assignable without the express written approval of Flash point; c) to make any sale transaction for this entry through Flash point; d) that if he/she has the winning, final bid, or accepted bid in auction subject to Receiver Confirmation, Buyer has entered into a binding contract to purchase the horse.

6. BUYER’S RESPONSIBILITY: By placing a bid in this auction, Buyer is indicating he/she has examined or researched a horse to their satisfaction. Prior to Bidding, Buyer may: a) ask Receiver for additional information; b) make an appointment with Receiver to examine the horse at Receiver’s facility; c) arrange with Receiver to have a licensed veterinarian perform a pre-purchase examination; or d) hire an agent or equine professional to inspect and evaluate the horse.

7. REPRESENTATION OF HORSE: There is no warranty expressed or implied by the sales company, auctioneer, sponsors, or Receiver, as to the performing soundness, merchantability, or fitness for any particular purpose of any horse offered in this sale. All horses are sold "AS IS" with all existing conditions and defects. Flashpoint Bloodstock, LLC, Professional Horse Services, LLC,Jonathan 0. Hafen, Esq., Parr Brown Gee & Loveless, Receiver, and sales personnel assume no responsibility whatsoever to anyone for blemishes, defects, the physical condition or health of any horse and makes no warranties or representations of any kind in the sale. THE BUYER HAS THE RESPONSIBILITY TO EXAMINE HORSES BEFORE BIDDING.Buyer agrees to hold Flashpoint Bloodstock, LLC, Professional Horse Services, LLC, Jonathan 0.Hafen, Esq., Parr Brown Gee & Loveless, Receiver, and sales personnel harmless from any claims arising out of any such inaccuracies or omissions.

8. REGISTRATION PAPERS- All registration papers will be mailed to the Buyer or otherwise made available to the Buyer within 20 business days of the Seller’s receipt of the final payment for the sale.The stallion certificate will be mailed to the Buyer.

9. COGGINS REPORT: A Negative Coggins report drawn within 12 months date of the sale will be available for horses over 6 months of age.

10. HEALTH CERTIFICATES: Buyer is responsible for obtaining any Interstate Health Certificate and/or International Import or Export papers that may be necessary for transportation of the horse.

11. DISCLOSURES - Every effort has been made to assure correctness of the catalog butFlashpoint, Receiver, the sale management, employees and auctioneers are not responsible for errors or omissions and assume no liability as to any such statements, either verbal or written regarding horses sold.

12. NO IMPLIED WARRANTIES: There is no warranty expressed or implied by Flashpoint or Receiver, as to the performing soundness, merchantability, or fitness for any particular purpose of any horse offered in this sale, other than those made specifically by Receiver. ALL HORSES ARE SOLD "AS IS" WITH ALL EXISTING CONDITIONS AND DEFECTS.

13. TRANSPORTATION FROM RECEIVER TO BUYER: Buyer is responsible for the cost and arrangements for transportation of the horse from Receiver to Buyer. Immediately after the end of the auction, Buyer shall contact Receiver to schedule transportation for the horse.

14. RELEASE OF HORSE TO BUYER: Receiver or Caretaker shall not release a horse to a Buyer until Buyer has made full payment for the horse and funds have been verified. Once bidding concludes, and Flashpoint has collected payment from the Buyer, Flashpoint will send to Receiver and Buyer a Buyer Confirmation Form (BCF). When Buyer or transporter arrives, they will showReceiver their copy of the BCF to confirm payment. Buyer or transporter will sign Receiver’s copy of the BCF and e-mail or fax it to Flash point.

5. RISK AND RESPONSIBILITY FOR HORSE: Buyer assumes all risk, responsibility, and expense for the horse at the end of bidding or, if sold pending confirmation by Receiver, upon confirmation of selling price by Receiver. Receiver agrees to provide basic board and care for up to 1 day at no additional charge. Beyond 1 day, Buyer will be responsible to pay for board, at a cost determined by Caretaker, plus any other expenses that may be required to maintain the horse until Buyer takes possession or has the horse picked up from Caretaker.Flashpoint recommends Buyer obtain Full Mortality Insurance on horses immediately after purchase, however, this decision and risk rest solely with Buyer.

16. BIDDING ERRORS: Buyer should make sure to review all bids before and after submitting. If Buyer mistakenly increases his/her own bid, places his/her bidder number in the bid field, or makes a gross error, Buyer must immediately contact the Flashpoint office by email with a written request to reverse the bid and the reasons for the request. Please be advised that Flash point may not be able to reverse a Buyer’s bid in which case Buyer will remain the high bidder. Be aware of increasing your own bids; some bidders increase their own bid to price a horse out of reach of other bidders.Flash point will not reverse bids that have caused another bidder to be outbid. If Buyer bids on the wrong horse, Flashpoint will not reverse that bid. Please make sure to immediately review all bids.Flash point will not reverse bids after the auction has begun to close. There will be NO exceptions.

17. SALES TAX: Buyers residing in West Virginia will be required to pay West Virginia Sale Tax of6%, unless exempt and appropriate forms have been completed.

18. PAYMENT BY BUYER: Once bidding is closed, an invoice will be emailed to Buyer. Payment in full must be made within three business days after the sale is closed. Payment must be made toFlashpoint Bloodstock, LLC for all sales. ALL SALES ARE FINAL. Payment may be made in the form of MasterCard, Visa, or American Express credit cards; cash; or bank wire transfer. In no case may any part of the purchase price be paid directly to the Receiver by the Buyer, as such payment shall not be valid or entitle the buyer to obtain the horse.

19. DEFAULT ON PURCHASE: If Buyer fails to pay for the horse in accordance with the terms of Paragraph 18 above, Flashpoint or Receiver shall have the right to re-sell the horse or bring legal action, in which event Buyer agrees to pay all cost of such suit together with reasonable attorney’s fees as awarded by the court. In the event of re-sale, the defaulting Buyer agrees to pay all costs of re-sale and price deficiency, if any. Buyer further agrees to pay any deficiency in the commission and buyer’s premium, if any. Interest of 1.5% per month will be charged on the unpaid balance.

20. BROODMARES: All mares that are selling as bred, have been checked for pregnancy by a veterinarian prior to this sale and a statement of the results will be disclosed. No live foal guarantee or return privileges will accompany any mare sold in this auction. The breeder’s certificate will be mailed to the mare owner by Flashpoint.

21. NO GUARANTEE OF SERVICE: Flashpoint, and EDJEAuctions.com (EDJE Technologies, Inc.) do not guarantee or covenant that the Auction technology, the EDJEAuctions.com site, or any related services will meet Buyer’s or Receiver’s requirements or be uninterrupted or error-free. EDJEAuctions.com (EDJE Technologies, Inc.) does not guarantee real-time performance of any service or that it will execute all online or absentee bids.

22. PROHIBITED CONDUCT: Flashpoint, at its sole discretion, may ban from further use, any Buyer who has failed to abide by the Terms and Conditions, or engaged in any improper auction conduct as determined solely by Flashpoint. Any Buyer who improperly fails to carry through with a purchase will be banned from any further use and may be subject to additional legal actions.

23. REFUNDS: In the event that a refund or partial refund is made to Buyer for the purchase price of an entry, the refund shall be made in the same manner that payment was made.24. INDEMNITY: Buyer releases Flashpoint, Receiver, Sale Managers, Auctioneers, employees, and its representatives, from any and all responsibilities, liabilities, obligations, claims, lawsuits, or legal proceedings arising from the sale of any horse or item in this auction. If legal action is initiated against Flash point involving this entry, the Buyer agrees to fully indemnify Flash point from such suit, including legal fees and costs incurred by Flashpoint. 

25. APPLICABLE LAW: These Terms and Conditions shall be governed by the laws of the State of West Virginia.

26. BINDING ARBITRATION: BY VIRTUE OF THE FOLLOWING ARBITRATION PROVISIONS, RECEIVER AND BUYER, VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHT THAT THEY MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY LITIGATION ARISING FROM OR CONNECTED WITH THE PURCHASE OR SALE OF A HORSE AND THE USE OF FLASHPOINT’S WEBSITE AND AUCTION SERVICES.

A. Claims involving Buyer and Receiver: Any dispute or controversy between Buyer and Receiver that cannot be resolved informally by agreement, shall be settled finally, completely, and conclusively by binding arbitration, by an arbitrator chosen in accordance with the Commercial Arbitration Rules of the American Arbitration Association. Arbitration shall be initiated by submitting a Demand for Arbitration to the American Arbitration Association, which can be found at www.adr.org. The arbitration shall take place in Salt Lake County, Utah, unless mutually agreed otherwise. A decision of the arbitrator shall be final, conclusive, and binding on the parties, and judgment may be entered thereon to enforce such decision and the benefits thereof. Any arbitration held in accordance with this paragraph shall be private and confidential, and no person shall be entitled to attend the hearings except the arbitrator, the stenographer (if one is requested), the parties and the attorneys for the parties and/or representatives designated by the parties. The matters submitted for arbitration, the hearings and proceedings thereunder, and the arbitration award shall be kept and maintained in strictest confidence by the parties and shall not be discussed, disclosed, or communicated to any person except as required by law or as necessary to enforce rights thereunder. On request of any party, the record of the proceeding shall be sealed and may not be disclosed except insofar, and only insofar, as may be necessary to enforce the award of the arbitrators and any judgment enforcing such award. In the arbitrator’s discretion, the prevailing party shall be entitled to recover reasonable and necessary attorney fees and the costs of arbitration from the non-prevailing party. Should Buyer prevail in the arbitration of a dispute and thereafter wish to return the horse and receive a refund, all fees associated with the sale become immediately due and payable to Flashpoint from Receiver. If Buyer gives notice of a dispute hereunder or refuses to pay for a horse because of a claim of misrepresentation or fraud, Flash point, in its sole discretion, may elect not to pay Receiver the net proceeds of the sale of the horse(s) in question until the claim has been finally resolved and the proceeds of the sale have been received by Flash point. Should a party fail or refuse to cooperate upon a demand for arbitration, the non-cooperative party shall be declared the defaulting party by the arbitrator.

B. Claims Involving Flashpoint: If a dispute should arise between Receiver and Flashpoint or Buyer and Flashpoint, all claims, disputes, controversies, differences, or other matters in question arising out of Flashpoint’s relationship to any party in the matters stated in these Terms and Conditions and all other matters in which Flashpoint has provided any type of services at any time, whether or not those matters are encompassed within this document (including, but not limited to compensation for fees, expenses, and/or commissions) shall be settled finally, completely and conclusively by binding arbitration by a single arbitrator chosen in accordance with the Commercial Arbitration Rules of the American Arbitration Association. If the dispute is between Receiver and Flash point, the arbitration shall take place in Salt Lake County, Utah. If the dispute is between Buyer and Flash point, the arbitration shall take place in Jefferson County, West Virginia. Flashpoint reserves its right to seek all legal and equitable remedies, including but not limited to civil or criminal judicial relief, in order to enforce or foreclose its security interest, to recover horses sold and not paid for in full, and/or collect payment for horses.  Arbitration shall be initiated by submitting a Demand for Arbitration to the American Arbitration Association, which can be found at www.adr.org. A decision of the arbitrator shall be final, conclusive, and binding on the parties, and judgment may be entered thereon to enforce such decision and the benefits thereof. Any arbitration held in accordance with this paragraph shall be private and confidential, and no person shall be entitled to attend the hearings except the arbitrator, the stenographer (if one is requested), the parties and the attorneys for the parties, and/or representatives designated by the parties. The matters submitted for arbitration, the hearings and proceedings thereunder, and the arbitration award shall be kept and maintained in strictest confidence by the parties and shall not be discussed, disclosed, or communicated to any person except as required by law or as necessary to enforce rights thereunder. On request of any party, the record of the proceeding shall be sealed and may not be disclosed except insofar, and only insofar, as may be necessary to enforce the award of the arbitrators and any judgment enforcing such award. The prevailing party shall be entitled to recover reasonable and necessary attorney fees and the costs of arbitration from the non-prevailing party.

27. LIMITS OF LIABILITY: Flashpoint shall not be liable for lost profits or any incidental, special, or consequential damages whatsoever arising out of or in connection with any sale or transaction. The total liability of Flash point for all claims, damages, or losses resulting from Buyer’s or Receiver’s use of Flash point’s website or auction services, shall not exceed the amount of funds held by Flashpoint for the sale of a horse. Flashpoint reserves the right to reject or void bids, whether winning or not, thatFlash point deems not to have been made in good faith, or that are restricted, prohibited, or taxed due to local laws. Flash point is the one and only judge regarding the determination of winning bidders, is the single deciding authority if a dispute should arise, and accepts no liability for any errors or omissions. Flashpoint reserves the right to reopen bidding on any disputed bids or ties. Flashpoint reserves the right to postpone or cancel a sale without notice, if determined in our discretion that such action is appropriate. Flash point will neither have the liability nor obligation to the intended bidders asa result of any withdrawal, cancellation, or postponement of sale.

28. PUBLICATION OF SALE RESULTS: Buyer and Receiver agree that Flashpoint may publish sale results.

29. ADDITIONAL TERMS AND CONDITIONS: The Terms and Conditions for the use of EDJEAuctions.com and Flash point Conditions of Sale for Buyers and Receiver as stated on the auction website, are hereby incorporated by reference and made part hereof as though fully set forth herein.

30. INTERFERENCE: Buyer and Receiver agree not to use any device, software, or routine to interfere with or attempt to interfere with the functioning of or any transaction being conducted on and during the online auction sale. Buyer and Receiver acknowledge that this auction is conducted electronically and that Flashpoint, Receiver, and Buyer rely on hardware and software that may malfunction without warning.

31. NO AGENCY: Buyer, Receiver and Flashpoint are all independent contractors, and no agency, partnership, joint venture, employee-employer, or franchiser-franchisee relationship is intended or created by these Terms and Conditions.

32. PRIVACY POLICY: By registering as a bidder or for this auction, Buyer and Receiver agree to the use of Buyer’s information by Flash point. Buyer’s information will be used by Flash point to contact Buyer and Receiver and for record keeping. Flashpoint will not sell or give Buyer’s or Receiver’s information to any entity, except for a sponsor or company that provides special services to Buyer orReceiver. Buyer and Receiver grant permission for Flashpoint to share contact information with its sponsors. In the future, Flashpoint may use email lists to contact Buyers and Receiver. Flash point may do custom email promotions for customers, advertisers, or organizations. If Buyer or Receiver wishes to discontinue receiving these emails, please contact our office.

33. SEVERABILITY: If any provision or portion of a provision of this agreement is held to be invalid or unenforceable for any reason, such provision or portion of a provision shall be struck and the remaining provisions shall be enforced.

Delivery

  • Transportation is the responsibility of the Buyer.
  • Caretaker will board the horse for up to one (1) day at no additional charge.
  • Buyer is responsible for board past one day and will pay the Caretaker directly.
  • Buyer is responsible for obtaining the Interstate Health Certificate and/or International Import or Export papers for transportation.

Flashpoint Bloodstock LLC at SportHorseAuctions.com
Charles Town, WV
(866) 652-7789
info@SportHorseAuctions.comn