What term is used to describe the condition in which the auctioneer does not guarantee an item's condition or authenticity?

The term "As is" and/or "with all faults" is commonly used in auction contexts to communicate that the auctioneer is not providing any guarantees regarding the condition or authenticity of the items being sold. This phrase indicates that buyers must take the items in their current state, with all existing imperfections and flaws.

It is important for buyers to understand that they assume all risks associated with the purchase. This phrase serves as a critical warning to bidders that they should thoroughly assess the item before bidding. It signifies that no warranties or assurances are made by the auctioneer, safeguarding the auctioneer from potential disputes regarding the item's state after the sale.

In contrast, options like Caveat Emptor (which means "let the buyer beware") also emphasize buyer responsibility but does not explicitly denote the lack of guarantees regarding condition in the same way. Full Warranty suggests that the seller guarantees the item's quality and authenticity, which conflicts with the premise of the question. Unitized Sale, a term more related to specific sales structures or agreements, does not pertain to this context of item condition and authenticity.

Understanding the implications of "As is" and "with all faults" helps prospective buyers make informed decisions during auctions.