as-is condition

Something's current condition without any improvements or alterations. Typically used to describe a pre-owned item for sale. I bet those boots are more beat-up than the pictures let on. I mean, they're only $17, and the listing says they're in as-is condition. Is it true that the buyer assumes all risk when they purchase something in as-is condition? Ricky bought the car in as-is condition from the seller, so he was out of luck when the engine fell apart two days later.