'As is where is basis" is the term mostly used in auction such as scraps, etc. It means the auction would be done where ever the commodity is stored, it will not be shifted to any specific place for auctioning. Once the auction is complete the buyer will have to pick up the commodity from the same place and transport it to the destination at his own cost. The seller will not bear any expenditure for handing over the same to the successful bidder.
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When a articl/any thing is auction it will be describe as is where is. it means the condition of the article/anything will remain same as before whether it may in working conditon or not or may be damaged. that is your duty to inspect when you are going to purchase it.