Online UCC Auction of Assets of ADCO II, LLC in Manassas, Virginia

Online UCC Auction of Vehicles, Trucks, Commercial Inventory and Other Valuable Assets of ADCO II, LLC

  •   Sep 12 @ 1:00PM EDT (Begins)
  •   Sep 18 @ 1:00PM EDT (Ends)
  •   Add to Calendar

Online UCC Auction – Ending September 18, 2017 at 1:00pm EDT - Assets of ADCO II, LLC, a well-known residential and commercial HVAC contractor located in Manassas, Virginia.   This auction includes the corporate assets of ADCO II and Air Distributing Company, Inc., including certain operating assets such as the name, service contracts and other valuable corporate operating assets.  Additional assets selling to the highest bidder include three (3) 2011 Ford F150 4 Door Extended Cab Pickup Trucks, six (6) 2009 Ford Econoline E250 Cargo Vans, one (1) 2009 Ford Econoline E250 Cargo Van, Nissan 5000 forklift and an inventory of HVAC parts, supplies and related commercial equipment assets.  

Auction Opens on September 12, 2017 and starts ending on September 18, 2017 at 1:00pm EST.  

The assets will be available for inspection at 9009 Center Street, Manassas, Virginia on Wednesday, September 13 from Noon to 2pm and Saturday, September 16 from 10am to Noon.   

IMPORTANT - PLEASE DOWNLOAD THE INSPECTION REPORTS IN THE DOCUMENTS TAB - We have received inspection reports on all of the vans and trucks from National Inspection Services, a professional third party inspection company.  Please read thru the package to obtain the results of their inspection.  Please note that these inspection reports are provided for your information only and are only intended to be an aid in your due diligence.  We strive to be as transparent as possible with our sales but you are ultimately responsible for deciding on the condition of each asset being sold and its suitability for your purpose. 

Lot 1406 - All rights, title and interest in the service contracts, warranty contracts, client contracts, customer contracts (collectively, the “contracts”), the brand name “ADCO”, the brand name “Air Distributing Company, Inc.”, the domain name URL www.adcohvac.com, content on the ADCO website, assignment of the phone numbers belonging to ADCO II, LLC including 703-368-8106 (to the extent that it can be transferred) as well as all computers, computer files, servers, paper files and all assets in the corporate office space at 9009 Center Street, Manassas, Virginia.  The buyer is responsible for removing all assets in this lot from the premises by Monday, September 25, 2017.  The buyer will be receiving a Bill of Sale after they close on the purchase of the assets.  It is the buyers responsibility to obtain possession of the phone number(s), website domain name and ownership of any trademarks or copyrights, if they exist.   We are not responsible for providing passwords to any computers.    Auction Markets has received 12 spreadsheets from ADCO indicating the number of service contracts that ADCO had in place.  Each spreadsheet is labeled by month and contains the key contract summary data related to each respective contract.  There are no warranties or guarantees that current customers will continue with the service contracts sold.  It is the responsibility of the buyer to take the necessary steps to perfect legal ownership and title in and to any trademarks or copyrights, if such exist.  The following is a summary of those contracts.  The spreadsheets will be made available to review at the scheduled inspections.  Due to personally identifiable information contained in this lot, this lot may only be purchased by an a licensed HVAC Contractor in the Commonwealth of Virginia.  This information was provided from ADCO and the information is not guaranteed.   Nearly all of the contracts are with customers from Arlington, VA to Winchester, VA and are an estimated mix of residential (90%) and commercial (10%) customers.   The 12 month total is 1,633 Contracts with a $385,728.67 Face Value.   If the phone number can not be transferred and/or the domain name can not be transferred, there will be no adjustment in price.  It is the purchaser’s responsibility to obtain possession of the intellectual property assets.  

Lot 1407 – 2009 Ford Econoline E250, Cargo Van, VIN: 1FTNE24L19DA38060, 5.4L, V8, FI SOHC, Gasoline, Rear Wheel Drive, White with Roof Rack, ADCO decals on exterior, rear cage with built in shelving for tools and supplies, busted back left light.  Odometer:  121,136 miles. 

 

Lot 1408 – 2007 Ford Econoline E250, Cargo Van, VIN: 1FTNE24L47DA60793, 5.4L V8, FI SOHC, Gasoline, Rear Wheel Drive, White with Roof Rack, ADCO decals on exterior, rear cage with built in shelving for tools and supplies, some rust on the front bumper. Odometer: 216,166 miles.

 

Lot 1409 – 2009 Ford Econoline E250, Cargo Van, VIN:  1FTNE24LX9DA83725, 5.4L, V8, FI SOHC, Gasoline, Rear Wheel Drive, White with Roof Rack, ADCO decals on exterior, rear cage with built in shelving for tools and supplies, damaged left mirror.  Odometer:  155,173 miles.

 

Lot 1410 –  2011 Ford F150, 4 Door Extended Cab Pickup, VIN: 1FTEX1EM1BFB21557, 3.7L, V6, FI DOHC 24V, Flex Fuel, 4 Wheel Drive White with Roof Rack on the truck bed cover, ADCO decals on exterior, has a cracked back right light and scrapes above the right back tire. Odometer: 205,224 miles.

 

Lot 1411 – 2009 Ford Econoline E250, Cargo Van, VIN: 1FTNE24W39DA81373, 4.6L, V8, FI SOHC, 16V, Gasoline, Rear Wheel Drive, White with Roof Rack, ADCO decals on exterior, rear cage with built in shelving for tools and supplies. Odometer: 156,101 miles.

 

Lot 1412 – 2009 Ford Econoline E250, Cargo Van, VIN: 1FTNE24L79DA89062, 5.4L, V8, FI SOHC, Gasoline, Rear Wheel Drive, White with Roof Rack, ADCO decals on exterior, rear cage with built in shelving for tools and supplies. Odometer: 150,476 miles.

 

Lot 1413 – 2009 Ford Econoline E250, Cargo Van, VIN: 1FTNE24L59DA77993, 5.4L, V8, FI SOHC, Gasoline, Rear Wheel Drive, White with Roof Rack, ADCO decals on exterior, rear cage with built in shelving for tools and supplies. Odometer: 126,339 miles.

 

Lot 1414 – 2009 Ford Econoline E250, Cargo Van, VIN:1FTNE24L59DA91201, 5.4L, V8, FI SOHC, Gasoline, Rear Wheel Drive, White with Roof Rack, ADCO decals on exterior, rear cage with built in shelving for tools and supplies. Odometer: 158,398 miles.

 

Lot 1415 – 2011 Ford F150, 4 Door Extended Cab Pickup, VIN: 1FTEX1EM8BFB00429, 3.7L, V6, FI DOHC 24V, Flex Fuel, 4 Wheel Drive, White with Roof Rack on the truck bed cover, ADCO decals on exterior, has some burn holes in the seats. Odometer: 169,584 miles.

 

Lot 1416 – 2011 Ford F150, 4 Door Extended Cab Pickup, VIN: 1FTEX1EM5BKD08839, 3.7L, V6, FI DOHC 24V, Flex Fuel, 4 Wheel Drive, White with Roof Rack on the truck bed cover, ADCO decals on exterior, has some tears on the steering wheel material.   The last reported odometer reading was 206,118 on 7/1/2016. 

 

Lot 1417 – Inventory Assets – All assets in storage building #1 and as identified by the photographs.  Includes a large assorts of filters, parts and related HVAC inventory assets.  All of these assets are being sold for one bid.  The buyer is responsible for removing all of the assets at one time. 

 

Lot 1418 – Inventory Assets – All assets in storage building #2 and as identified by the photographs.  Includes a large assorts of filters, parts and related HVAC inventory assets.  This lot does not include the forklift.  All of these assets are being sold for one bid.  The buyer is responsible for removing all of the assets at one time. 

 

Lot 1419 – Nissan 5000 Forklift, 83,519 hours

This list is subject to change prior to the start of the online auction.  

Location

Thank you for your interest in this online auction brought to you by Auction Markets, LLC (“Auction Markets” and/or “Auctioneer”).   We are selling certain assets of ADCO II, LLC pursuant to the Virginia Uniform Commercial Code.
 
PLEASE READ ALL TERMS AND CONDITIONS BEFORE BIDDING. BY BIDDING, YOU ARE AGREEING TO THESE TERMS AND CONDITIONS.
 
PLEASE NOTE THAT ALL ONLINE AUCTION SYSTEMS AND BIDDING APPS ARE SUBJECT TO VARIOUS INTERNET SPEEDS. YOU ARE ENCOURAGED TO USE THE MAXIMUM BID FEATURE AND YOU ARE ENCOURAGED TO NOT BID "AT THE LAST SECOND".  ENTER YOUR BIDS PROMPTLY TO ALLOW THE ONLINE SYSTEM TO PROCESS ALL BIDS IN A TIMELY FASHION. GOOD LUCK!
 
15% Buyers Premium and Virginia Sales Tax.  A 15% Buyers Premium applies to all bids and is due and payable in full with the final payment.    Unless you are tax exempt, the winning bidder is responsible for paying a 6.0% sales tax on their entire purchase directly to the Auction Company.   For example, if you are the winning bidder for $10,000.00, a 15% Buyers Premium will be added ($1,500.00), resulting in a $1,500.00 sales price.  The 6% sales tax will be calculated on the $1,500.00 sales price, resulting in a final purchase price due to Auction Markets of $1,590.00.  No sales tax will be charged on any vehicle purchases, to out-of-state buyers that have their purchase shipped to them and to tax-exempt resellers that provide a tax-exempt certificate to Auction Markets prior to payment.  All Virginia residents are subject to payment of the 6% sales tax.  Auction Markets reserves the right to reject any tax-exempt certificate it does not deem to be valid and the buyer will be required to apply for a tax refund from the Commonwealth of Virginia. The buyer is responsible for paying all transfer and sales taxes on vehicle purchases at the time of vehicle registration. 
 
Payment.  Payment may only be made by wire transfer in US Dollars only.   No credit cards or checks will be accepted.  Please do not bid unless you have the financial resources to immediately pay for your purchase.   Final payment for your purchase must be made by Monday, September 25, 2017 prior to taking possession of your purchases.  Wiring instructions will be delivered to the successful bidder.  No bidder may pick-up their purchase until the entire purchase price has been received by Auction Markets.  The initiation of a wire transfer is not considered payment.  The funds must be received by Auction Markets prior to pick-up.  You are strongly encouraged to initiate all wire transfers by 2:00pm EST on each business day to insure timely payment.   
 
Default.   This is a UCC auction with very specific terms and conditions that you are agreeing to abide by when you bid.  You understand that there are specific legal consequences if you do not follow through with your obligations.  Therefore, at Auction Markets, we do not require credit card authorizations prior to bidding and we trust that when you bid, you will follow through with your bid.   We may, at our discretion, require proof of funds prior to accepting your registration.   We have a “One Strike” policy.   If you are a winning bidder and you default on any part of your purchase, for any reason, including that you decide you only want some of the items you purchased, you will (a) be immediately banned from participating in all future Auction Markets auctions, (b) be subject to litigation, specific performance and enforcement of your bid by the Secured Creditor, including but not limited to either payment in full of your bid plus all legal fees associated with enforcement of your bid and/or payment of any difference between your bid price and the re-sales price and all costs of re-sale in the event we re-sell the item(s) you defaulted on and (c) other legal remedies available to Auction Markets and the Secured Creditor for damages caused.    If you do not pay for your item(s) by the payment due date, we reserve the right to immediately re-sell the item without further notice.  We have no obligation to “work with you” or “wait for payment”.  We are required by the Uniform Commercial Code to liquidate the assets we are selling.  Please remember that when you bid online, your bid is binding and you are contractually obligated to pay for your purchases if you are the winning bidder.  If you are unsure if you have the financial ability to pay for your purchases with cash or wire transfer by the payment deadline, then please do not bid. 

 

You are encouraged to attend one of our scheduled previews to inspect the assets prior to bidding.
 
Extended Bidding.  All of our auctions will extend an additional three minutes each time there is bidding activity within the last three minutes of any individual item auction closing and will continue to extend three minutes until there is no more bidding activity within the last three minutes.  You are strongly encouraged to use the maximum bid feature so the online platform can automatically enter your bid.  In order to enter your maximum bid on a Lot, simply enter your highest bid and the bidding platform will enter the next highest bid for you and will raise your bid only by the next increment.  For instance, if the current bid is $50,000.00, the minimum bidding increment is $1,000.00 and your maximum bid is $100,000.00, when you enter your maximum bid for $100,000.00, the bidding platform will only increase the bid to $51,000.00 (the current bid plus the $1,000.00 minimum bidding increment).  If nobody else bids, you are the high bidder for $51,000.00.  If another bid is entered for $52,000.00, then the bidding platform will automatically increase your bid to $53,000.00.  This will continue until your maximum bid is reached or you are declared the high bidder.
 
Bidding Mistake.  If at any time during the auction you mistakenly make a bid that needs to be correct, such as bidding $500,000 instead of $50,000, please immediately email Auction Markets at info@auctionmarkets.com to report the error.  Please write in the subject line – URGENT BIDDING MISTAKE – or similar text to notify us of the mistake and we will attempt to correct it promptly. 
 
Asset Condition.  We have taken great care to accurately describe each asset being sold.   Regardless, all assets are being sold in "AS-IS, WHERE-IS" condition and with all faults. Auction Markets, the Secured Creditor, and their representatives,  make  no representation, guaranty, or warranty, express or implied, as to the nature, quality, value, provenance, use, merchantability, marketability, completeness, or condition of any asset.  Auction Markets and the Secured Creditor expressly disclaim any warranty of merchantability or fitness for a particular purpose.  No sale shall be invalidated by reason of any defect or inaccuracy in any description or listing, and no liability shall be borne by Auction Markets and/or the Secured Creditor with respect to such errors.  All information has been obtained from sources generally believed to be reliable, but the accuracy cannot be guaranteed or warranted by Auction Markets or the Secured Creditor. By bidding you acknowledge it is your responsibility to inspect the asset(s) being sold and to make your own inquires and conclusions prior to bidding.   Please submit any inquiries about any item being sold to info@auctionmarkets.com.   

 

Provenance and Authenticity.  All items described are based on our research, based on the label(s) on the item(s) being sold and based on our conversation(s) with the former owner or Debtor.   While we have taken great care to provide the most accurate description(s), we do not take responsibility for any errors whatsoever in any description(s).  All measurements are approximate.  All assets are being sold in "AS-IS, WHERE-IS" condition and with all faults. Auction Markets, the Secured Creditor, and their representatives make no representation, guaranty, or warranty, express or implied, as to the nature, quality, value, provenance, use, merchantability, marketability, completeness, or condition of any asset.   By bidding you acknowledge it is your responsibility to inspect the asset(s) being sold and to make your own inquires and conclusions prior to bidding.   Please submit any inquiries about any item being sold to info@auctionmarkets.com


Asset Inspections.  The assets are available for inspection on Wednesday, September 13 from Noon to 2pm and Saturday, September 16 from 10am to Noon.   For more information about the sale, please contact Stephanie Young, Auction Markets at 571-223-9975 or stephanie@auctionmarkets.com.   The assets are located at 9009 Center Street, Manassas, Virginia. 


Shipping Services.   No shipping services are provided by Auction Markets for this auction.  The winning bidder is responsible for arranging the pick-up of their purchases by September 25, 2017 by 5pm.    

Time is of the Essence.  Time is of the essence with respect to all timelines and deadlines described in these terms and conditions.  All times are local time.   These terms and conditions are subject to change prior to the start of the auction.