This item is sold as-is-where-is  with all faults that may exist at the time of sale.

"as-is-where-is" is a common boiler plate terminology for used items and items sold at auction.  It pretty much says "what you see is what you get".  It may or may not work.  It may or may not have hidden defects.  The only assurance the seller is making is that you will get what is shown or what you see after you make the commitment to purchase.

Per Wikipedia:

As is (or as-is) is a legal term and concept used to disclaim liability for an item being sold. "As-is" denotes that the seller is selling, and the buyer is buying an item in whatever condition it presently exists, and that the buyer is accepting the item "with all faults", whether or not immediately apparent. This is the classic "buyer beware" situation, where the careful buyer should take the time to examine the item before accepting it, or obtain expert advice. Oddly, the seller is also saddled with "as-is" if the item being sold turns out to be much more valuable than thought.

The "where-is" part simply means it is the buyers responsibility to get the item from the location where it is at the time of sale to the location where the buyer wants it. This is basically another way of saying that the buyer is responsible for all cost of packing, shipping and insurance (or picking it up in person--or via the buyers agent--without packing).  In the event that it is a large item that is installed, needs to be dismantled for shipping or requires rigging services, it means the buyer is responsible for getting this done and paying for it.

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