Conditions of Sale

Kraft Auction Service LLC. AS AGENT

The lots listed in this catalogue will be offered by Kraft Auction Service LLC. as owner or as agent for consignor(s) subject to the following terms and conditions. By bidding at auction you agree to be bound by these Conditions of Sale.

BEFORE THE SALE

Prospective buyers are strongly advised to personally examine any property in which they are interested before the auction takes place.. All lots are sold AS IS and without recourse and neither Kraft Auction Service LLC. nor its consignor(s) makes any warranties or representations, express or implied with respect to such lots. Neither Kraft Auction Service LLC. nor its consignor(s) makes any express or implied warranty or representation of any kind or nature with respect to merchantability, fitness for purpose, correctness of the catalogue or other description of the physical condition, size, quality, rarity, importance, medium, material, genuineness, attribution, provenance, period, culture, source, origin, exhibitions, literature or historical significance of any lot sold. The absence of any reference to the condition of a lot does not imply that the lot is in perfect condition or completely free from wear and tear, imperfections or the effects of aging. No statement, whether written or oral, and whether made in the catalogue, or in supplements to the catalogue, an advertisement, a bill of sale, a salesroom posting or announcement, the remarks of an auctioneer, or otherwise, shall be deemed to create any warranty, representation or assumption of liability. Kraft Auction Service LLC. and its consignor(s) make no warranty or representation, express or implied, that the purchaser will acquire any copyright or reproduction rights to any lot sold. Kraft Auction Service LLC. expressly reserves the right to reproduce any image of the lots sold in the catalogue.

AT THE SALE

Refusal of Admission: Kraft Auction Service LLC. has the right, at our complete discretion, to refuse admission to the premises or participation in any auction and to reject any bid.

Registration before Bidding

A prospective buyer must complete and sign a registration form and provide identification before bidding. We may require bank or other financial references.

Bidding as Principal

When making a bid, a bidder is accepting personal liability to pay the purchase price, including the buyer's premium, all applicable taxes and all other applicable charges, unless it has been explicitly agreed upon in writing with Kraft Auction Service LLC before the commencement of the sale that the bidder is acting as agent on behalf of an identified third party acceptable to Kraft Auction Service LLC., and that Kraft Auction Service LLC. will only look to the principal for payment.

Absentee Bids

We will use reasonable efforts to carry out written bids given to us at least 24 hours prior to the sale for the convenience of clients who are not present at the auction in person, by an agent or by telephone. Bids must be placed in U.S. dollars. If we receive written bids on a particular lot for identical amounts, and these are the highest bids on the lot at the auction, it will be sold to the person whose written bid was received and accepted first. Execution of written bids is a free service undertaken subject to other commitments at the time of the sale and we do not accept liability for failing to execute a written bid or for errors and omissions in connection with the written bid.

Telephone Bids

On lots with a low estimate of $500 and above and if a prospective buyer makes arrangements with us prior to the commencement of the sale we will use reasonable efforts to contact them to enable them to participate in the bidding by telephone and we do not accept liability for failure to do so or for errors and omissions in connection with telephone bidding. These telephone bids may be recorded at the discretion of Kraft Auction Service LLC.

Online Bids

We will use reasonable efforts to carry out online bids and do not accept liability for equipment failure, inability to access the Internet or software malfunctions related to the execution of online bids.

Reserves

Some lots in the sale are subject to a reserve which is the confidential minimum price below which such lot will not be sold. Reserves are agreed upon with consignors or, in the absence thereof, the absolute discretion of Kraft Auction Service LLC. The auctioneer may open the bidding on any lot below the reserve by placing a bid on behalf of the seller. The auctioneer may continue to bid on behalf of the seller up to the amount of the reserve, either by placing consecutive bids or by placing bids in response to other bidders. With respect to lots that are offered without reserve, unless there are already competing bids, the auctioneer, in his or her discretion, will generally open the bidding at half of the low estimate for the lot. In the absence of a bid at that level, the auctioneer may proceed backwards at his or her discretion until a bid is recognized, and then continue up from that amount.

Auctioneer's Discretion

The auctioneer has the right at his or her absolute and sole discretion to refuse any bid, to advance the bidding in such a manner as he or she may decide, to withdraw any lot, and in the case of error or dispute, and whether during or after the sale, to determine the successful bidder, to continue the bidding, to cancel the sale or to reoffer and resell the item in dispute. If any dispute arises after the sale, our sale record is conclusive.

Successful Bid

The highest bidder acknowledged by the auctioneer will be the purchaser. In the case of a tie bid, the winning bidder will determined by the auctioneer at his or her sole discretion. In the event of a dispute between bidders, the auctioneer has final discretion to determine the successful bidder or to reoffer the lot in dispute. If any dispute arises after the sale, the Kraft Auction Service LLC. sale record shall be conclusive. Title passes upon the fall of the auctioneer's hammer to the highest acknowledged bidder subject to the Conditions of Sale set forth herein, and the bidder assumes full risk and responsibility.

AFTER THE SALE

Buyer's Premium

In addition to the hammer price, the buyer agrees to pay Kraft Auction Service LLC. a buyer's premium and the applicable sales tax added to the final total. The buyer's premium for purchases made via online bidding is twenty (20%) of the hammer. Onsite buyers pay a buyer's premium of 10% plus an additional 3% if they pay their bill by credit card.

Payment

Onsite buyer's must pay their bill the day of the sale either by cash, check with certified letter, or any major form of credit card.

The online buyers must pay the entire amount due (including the hammer price, buyer's premium, all applicable taxes and other charges) no later than 5 p.m. on the seventh (7) business day following the sale. Payment in U.S. dollars may be made with cash; credit card (Mastercard, Visa, Discover); bank check or cashier's check drawn on a U.S. bank; money order; or wire transfer unless other arrangements are made with Kraft Auction Service LLC. Kraft Auction Service LLC. reserves the right to hold merchandise purchased by personal check until the check has cleared the bank. The purchaser agrees to pay Kraft Auction Service LLC. a handling charge of $50 for any check dishonored by the drawee.

Collecting Purchases

Once Kraft Auction Service LLC. has received all funds due to us, the buyer shall collect purchased lots within seven (7) business days from the date of the sale.

Packing and Shipping

Kraft Auction Service LLC. will take your purchases to Pak Mail in Valparaiso at no additional charge. Pak Mail will package and ship your items for you at the buyer's expense. Buyer will pay Pak Mail directly for shipping. If buyer would like another third party shipper to ship their item, they will need to arrange shipping themselves and have their shipper pick the item up from Kraft Auction Service LLC. Packing and handling of purchased lots by us is at the entire risk of the purchaser, and Kraft Auction Service LLC. will have no liability of any loss or damage to such items.

Non Payment

If we do not receive payment in full, in good cleared funds, within seven (7) business days following the sale, we are entitled in our absolute discretion to exercise one or more of the following measures, in addition to any additional actions available to us by law:

a.) to impose a late charge of one and a half percent (1.5%) per thirty (30) days of the total purchase price

b.) to hold the defaulting buyer liable for the total amount due and to begin legal proceedings for its recovery together with interest, legal fees and costs to the fullest extent permitted under applicable law

c.) to cancel the sale

d.) to resell the property publicly or privately with such terms as we find appropriate, to resell the property at public auction without reserve, and with the purchaser liable for any deficiency, cost, including handling charges, the expenses of both sales, our commission on both sales at our regular rate, all other charges due hereunder and incidental damages. In addition, a defaulting purchaser will be deemed to have granted us a security interest in, and we may retain as collateral security for such purchaser's obligations to us, any property in our possession owned by such purchaser. At our option, payment will not be deemed to have been made in full until we have collected funds represented by checks, or in the case of bank or cashier's checks, we have confirmed their authenticity.

e.) to offset against any amount owed

f.) to not allow any bids at any upcoming auction by or on behalf of the buyer

g.) to take other action as we find necessary or appropriate

Failure to Collect Purchases

If property is not picked up within seven (7) business days following the sale, whether or not payment has been made, Kraft Auction Service LLC. reserves the right to charge $5 per lot per day or to deliver said property to a public warehouse for storage at the purchaser?s expense. Leslie Hindman Auctioneers, Inc. shall have no liability for any damage to property left on its premises for more than seven (7) business days following the sale. In addition, we reserve the right to impose a late charge of one and a half percent (1.5%) per month of the total purchase price if payment is not made in accordance with the conditions set forth herein. For property that is not picked up after thirty (30) calendar days, an additional administration fee of $75 will be charged. Property which is paid for but left on our premises for any reason in excess of sixty (60) calendar days is subject to sale by us with the balance of any funds recovered in excess of storage charges and any other fees being remitted to you.

LIABILITY

Condition Reports

Kraft Auction Service LLC. is not responsible for the correctness of any statement of any kind concerning any lot, whether written or oral, nor for any other errors or omissions in description or for any faults or defects in any lot. Neither the seller, ourselves, our officers, employees or agents, give any representation, warranty or guarantee or assume any liability of any kind in respect of any lot with regard to merchantability, fitness for a particular purpose, description, size, quality, condition, attribution, completeness, authorship, authenticity, rarity, importance, medium, provenance, exhibition history, literature or historical relevance. Except as required by local law any warranty of any kind whatsoever is excluded by this paragraph. Items under $1,000 are collated upon request.

Purchased Lots

If for any reason a purchased lot cannot be delivered in the same condition as at the time of sale, or should any purchased lot be stolen, mis-delivered or lost prior to delivery, Kraft Auction Service LLC. shall not be liable for any amount in excess of that paid by the purchaser.

Legal Ramifications

The rights and obligations of the parties with respect to these Conditions of Sale, the conduct of the auction and any matters connected with any of the foregoing shall be governed and interpreted by the laws of the jurisdiction in Indiana. If any part of these Conditions of Sale is found by any court to be invalid, illegal or unenforceable, that part shall be discounted and the rest of the conditions shall continue to be valid to the fullest extent permitted by law.

Discretion

Any and all of the conditions may be waived or modified in the sole discretion of Kraft Auction Service LLC

Gaerte Engines Business Liquidation Auction Tuesday June 18 and Wednesday June 19, 2019 9:00am EST Auction Preview: Monday June 17th 11am-5pm EST Located at 601 Monroe St. Rochester, IN. Day 1- June 18th - 950+ Lots Intellectual Property The buyer of this lot will have the opportunity to buy the 50 year history of Gaerte Engines. Not only will you be buying the name, logo, website and phone number, but you will also buy 50 years of records and research done by Gaerte. This is a great opportunity to buy the knowledge and goodwill of one of the greatest names in race engine building. Please contact Kraft Auction Service for more information on this lot. Stacker Race Trailer - Fuel Trailer - Storage Container 2005 Renegade 38' stacker trailer, bathroom, kitchen with fridge, very nice and well maintained trailer; 53' semi van trailer w/ fuel tanks; van body storage box Large High Performance Race Engine Parts Inventory - $350,000+ Wholesale Value 7- new racing carburetors; carburetor spacers; numerous crankshafts; numerous piston sets; oil pumps; roller speed sets; air filtration systems; air pumps; clutch and flywheel; cylinder sleeves; roller lifters; roller rockers; camshafts; intake manifolds; spark plugs; various engine heads; connecting rods; engine blocks; air filter kits; timing gears; water pump housings; fuel injection systems; water pumps; motor mounts; engine brackets; oil pan parts; modular tuning sets; fuel pumps; regulators; oil pans; stud bolts; ignitions and ignition parts; magnetos; distributors; valve heads; valve springs; valve stems; pulleys; springs; fittings; oil filter adapters; alternators; rocker arms; piston rings; bearings; exhaust pipes; starters; quick change gears; tire riper; racing wheel; gaskets; oil tanks; performance mufflers; ignition trigger hubs; gear drive parts; and much more... Gaerte Memorabilia - Fixtures - Equipment - Tools - Sprint Car Tires Numerous pieces of Gaerte memorabilis including advertising signs, apparel, stickers, promo wrenches, and much more; advertising clocks; metal shelving; office equipment; steel tables; engine stands; shop stools; glass display cases; shipping boxes; steel banding cart and material; heat shrink machine; dial indicators; Starrett tools; stretch indicators; torque wrenches; Trinus automotive inspection CCD digital camera; bore gauge sets; micrometers; Snap-On stud remover set; otoscope; digital calipers; Snap-On gear pullers; pulley remover and installer; cam tuning kit; Wilton vise; 3 ton arbor press; 23 pallets of sprint car tires (used one heat cycle); 400 gal. stainless tank; 500 gal fuel tank w/ electric pump; and much more... Day 2- June 19th - 800+ Lots Machine Shop and Engine Building Equipment Serdi 100 valve guide and seat machine w/ attachments, like new; Milltronics Partenr VM 24 CNC machine w/ centurion VI computer; Milltronics PArtner I CNC machine w/ centurion 6 computer module; numerous CNC collets, bits, and 30+ chucks; 2- Enco 100-1588 milling machine w/ Enco super platinum edge computer module; Enco model 4VS vertical milling machine w/ Mitutoyo computer module; Enco milling machine w/ vise; Enco Model 4S milling machine; Enco milling machine; Bridgeport milling machine; Enco model 40040 drill press; VSI vertical valve spring inserting machine; Monarch metal lathe w/ 12" chuck; Acer Dynamic 1740G metal lathe; General Machinery Corp. metal lathe; several lathe chuck heads; Tryoke T-18 rotary table; Enco Model 6X18 surface grinder; Meta-lax stress relief and weld condition module/cabinet with vibrationt table; DoAll 3612-1H3 metal band saw; Enco model 130-5385 metal break; Hyd-Mech S-20 series II metal band saw; Lenox band saw blades; Peterson TCM-25 seat and guide machine; Wade T-540 turret lathe; Kwik-Way model VL valve facing machine; Hanafin 5 ton hydraulic press; Hardinge super-precision metal lathe; 2- RM-30 surface grinders; Storm Vulcan Anderson surfacer; 2- Storm-Vulcan 85-B head and block resurfacer machine; Comec RV 516 JB valve resrfacer machine, like new; IDL CG 80 valve grinder; Sunnen HS 30 honing machine; OD honing machine; Sunnen CV-616 honing machine; numerous sets of honing stones and stone holders; Sunnen CH-100K horizontal line honing machine; Sunnen Model LBB 1810 precision honing machine w/ AB 300 precision gauge; 2- Sunnen model LBA 55G honing machines; Winpro OD hone; Ammco model B connecting rod aligner; Berco BT6 line boring machine; Berco AC650-M cylinder boring machine; Sunnen CRG-750 cap & rod grinder; Leland-Gifford vertical milling machine; Lincoln dialaec HF welder; Peterson Mag-Spec wash and blast machine; Lempco crank shaft regrinder; ABS products precision crankshaft finishing grinder; Heir Werner crankshaft squaring machine; GROB commercial metal band saw; Lempco wheel surface grinder; IDL valve grinder; Reliance Tools "By George" CS5275 powered circle shear; Miller aeroewave arcwelder w/ vers-tig torch module and watermate 1A cooling system; Jet JWG-34 butt welder/grinder; Enco No. 5 arbor press; Delta 12" drill press; DuMore tool post grinder; parts washers; model N-200 media blast cabinet; 2 Dee-Blast abrasive blast system blast cabinets; Rockwell floor model belt sander; powder coating station; bench grinders; super flow flow measuring machine; Intercomp model VST20 digital valve spring tester; Enco belt sander/grinder on stand; ABS piston ring grinder; Aeroquip ProCrimp 1380 crimping machine; Alvey FLC-10 parts steam cleaning machine; Peterson Machine Tool Co. parts cleaning station; Rockwell drill press; GE commercial convection oven; Vulcan-Hart convection oven; 12 ton aluminum pneumatic jack; Accu-finish series II diamond disk grinder; Rockwell hardness tester; several bench vises, various sizes; machine cutting wheels and bits; Unison Dedtru portable grinding attachment; carbide bench grinder; machine vises; machining bits; Helicoil kit; Draper 912 and 8240 height gauge; Renishaw MP11 probe; Federal 75B-1 bench depth gauge; Sweg comparator gauge; compactor metal bender; machining levels; Sunnen diamond wheels; granite surface plate on stand; pneumatic ITW valve spring compressor clamps; numerous small hand tools; Bestool-Kenon EM6002 digital caliper; dial calipers; 2- Kennedy tool box w/ tools; collet sets; dial indicator w/ magnetic base; Starrett depth and bore gauges; parallel block sets; Rigid no. 358 pipe bender; electric hoists; 2- Sunnen dial bore gauge; pressure washer; small air compressors; Snap-On torque wrench; Mitutoyo Internal micrometers; numerous tooling and attachments for machinery; and much more.. Engine Testing Equipment 3- Froude Consine Hydrualic Dynamometer w/ control panels, cabinets, and accessories, All three units being sold as one unit; MSD dyno ignition system console; flow rate testing machine; fuel system turbine w/ tachometer unit; Sun 404 distributor tester; Sun 680 distributor tester; Cam Pro Plus complete camshaft measurement system w/ computer and accessories; and much more... Lift Trucks - Shelving - Cabinets - Tables - Office Equipment Big Joe 1000lb and 2500lb manual lift trucks; Big Joe model 1518-A5 lift truck; various sized pallet racking; 20+ 2 door wall hanging cabinets; steel welding tables; Craftsman 10 drawer work bench; steel workbenches; 2- door locking door cabinets; 8 drawer tool cabinet w/ legs; 22 drawer tool cabinet; 2- 7 drawer tool cabinet; 20 drawer parts cabinet; 8- equipto 8' and 6' work bench and cabinet; 2- equipto 78 drawer nut and bolt cabinets; steel shelving units; roller stand; pipe rack; stacking metal bins; hydraulic lift cart; numerous rolling engine stands; engine cherry pickers; shop fan; picnic table; Frigidaire refrigerator; stainless steel sinks; office desks; chairs; filing cabinets; and much more... Material Stock - Engine Blocks - Parts - Jigs Quantity of aluminum flat stock and tubing; 10- Gaerte 4cyl engine blocks; numerous other engine blocks; numerous building jigs; crank shafts; cam shafts; misc. parts; cylinder heads; boxes of new valve springs; valve covers; aluminum templates; racing fuel; fuel caddy; Holley jet kits; complete Gaerte test engine; torque honing plates; and much more... Online Bidding Available At KraftAuctions.com Owner: Topp Performance Auctioneer's Note: After 50 years of being a worldwide leader in race car engine building, Gaerte has closed their doors and will be selling their business at public auction. This is a sale you do not want to miss! Terms: Cash, all major credit cards, or good check with positive ID. 3% service fee for credit cards. 10% buyers premium onsite and 20% buyers premium online. Not responsible for accidents or items after sold. Information announced day of sale takes precedence over printed material. Kraft Auction Service LLC Col. Conrad Kraft- AU01032667 Jonathan Kraft – AU10500173 219-973-9240 ~ Info@KraftAuctions.com KraftAuctions.com Food and Restroom Available