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FREQUENTLY ASKED QUESTIONS
General FAQ
FAQ for Buyers
FAQ for Sellers
Absolute auction or reserve?
Absolute Auction
A property is sold to the highest bidder with no minimum, no reserves. This type of auction presents the greatest opportunities for the buyer.
Reserve Auction
The seller may set a 'reserve' price and if the auction fails to have a bid equal to or higher than the reserve, the item remains unsold.
How do I buy at your auction?
Registering to buy at our auctions can be done easily. To get a bidder's number, all we need is your personal information, your banking information, your method of payment, and your signature.
After you register you can bid.
How do I pay for the equipment?
All equipment must be paid in full at the time of purchase or up to 1 hour after the auction. If you leave an absentee bid or a cellular bid, we will set up a wire transfer from your bank. Methods of payment include: Cash, Cashier's Check, Personal or Company Check, and Credit Cards. If you pay with a personal or company check, we will need the name, address, telephone number and a contact from your bank at the time of registering. All personal or out of state checks will require a bank letter of credit. Accepted Credit Cards are Visa, Mastercard, and Discover. There is a 3% credit card processing fee applied to all credit card payments.
What about the title transfer? When will I receive the titles? Is there a fee to transfer the titles?
If you pay cash or equivalent for your purchases, or if you have a letter of credit stating the bank will honor or guarantee your check, the title(s) will be sent to you via overnight delivery the next day. Otherwise the title(s) will be mailed out as soon as your check clears. We will have a title clerk attending the sale. The buyer is responsible to pay all title transfer fees, state sales tax & license tag fees.
You will need to show proof of insurance for the vehicle to the title clerk.
Do you accept checks? Personal? Business? Out of state?
Methods of payment include: Cash, Cashier's Check, Personal Check or Company Check. If you pay with a personal or company check, we will need the name, address, telephone number and a contact from your bank at the time of registering. We will also need a bank letter of credit from your bank.
Do I need a bank letter of credit?
Yes we do require a bank letter of credit to accompany all checks. The bank letter of credit from your bank stating they honor or guarantee your check.
Can I leave an absentee or proxy bid or bid over the phone?
Please see our Absentee/Phone Bidding Information page. Download the Absentee bidder form, fill it out completely, sign it, and fax/send/email it back. Please include the equipment you are interested in purchasing and the maximum amount you want to spend. At our auctions, we do not start the bidding with your maximum bid. If the equipment sells for less than the maximum amount you want to spend, you will own it at that price.
We also offer Phone Bidding, this is where you will be able to communicate with the auctioneer as the auction is going on. On auction day, our staff will contact you right before the auctioneer is about to sell the equipment you are interested in purchasing. You will be able to communicate with our staff and have them bid on the equipment for you just as if you were at the auction. This is offered on a 1st come 1st serve basis. Please call with any questions.
Are there reserve or minimum bids?
All equipment being sold "absolute" will be sold regardless of price. Items with a "reserve" price will sell if the auction brings a bid higher than the reserve price. If the auction fails to have a bid equal to or higher than the reserve, the item remains unsold. Items with a reserve will be announced as such at time of auction.
In addition you never have to worry about an owner running up the price on his equipment because WE DO NOT ALLOW THIS. If we find out someone is bidding on their own equipment or having someone else bid on their equipment for them, they will be asked to leave.
Do you offer Online Bidding?
Yes! We offer online bidding through Equipment Facts. You must pre-register to bid online at www.equipmentfacts.com at least 4 days prior to the auction in order to be approved as a bidder. Auction Catalog (Pictures and descriptions of units) will be available approximately 2 days prior to the sale. On Auction day, follow the auction on Equipment Facts and follow directions to bid. You will be responsible for picking up any units you purchase by the times posted on the Auction Inventory Page.
What about PA sales tax?
PA Sales Tax on vehicles with titles
If you transfer your new title using our title clerk you will need to pay any applicable PA sales tax unless you have an approved form for exemption of the PA Sales Tax.
PA Sales Tax on all other items sold at our auction
We are required to charge PA Sales Tax unless you have an approved form for exemption of the PA Sales Tax.
To download a PA Sales Tax Exemption form, please go to our downloads page.
Is the equipment sold with a warranty or guarantee?
We do not provide a warranty or guarantee on the equipment being sold at auction. Everything is sold "AS IS WHERE IS". You are the professionals, so inspect the equipment before you purchase it.
It is our desire to represent the equipment well, however we are not the owner of the equipment so please come early and inspect the equipment.
When can I pick up my equipment? Title or no title?
You can take the equipment as soon as you pay for it with an approved payment.
Announcements will be made the day of the auction regarding the length of time you have to get the equipment off the lot. If you cannot get the equipment moved by then, contact our auction staff to discuss the options available.
How can I register ahead of time to bid?
You can register to bid ahead of time by going here or you can call and we will send or fax you a registration form. You must pre-register at least 1 business day prior to the auction.
You are our customer! We want you to get the highest $'s!
One thing we will attempt to do for everyone of our sales is to market the sale well. We do this advertising well using print ads, direct mail, internet advertising, phone and personal contacts. We will get the word out about your equipment. We feel the key is for you to get us your information as early as possible so that we can market your pieces very well.
How does your auction work?
We start to find pieces well before our sale dates and then we will market the sale well. You will bring your piece of equipment to our sale about a week before the sale so that the potential buyers may come and inspect the items, and so we can take pictures of your item for our online bidding site. We will sell your item and then you will receive a check from us after the sale.
What about the title?
We must have your title in our possession at least 7 business days prior to the sale. If this is going to present a problem please contact us prior to the auction.
All rolling stock must have a transferable title, free & clear of all liens and encumbrances. We will need to have you sign a power of attorney form prior to the sale so that we can easily transfer your title after the sale. This form will need to be signed in front of a notary and it must be filled out in the same name as the unit is titled.
What if my bank has the title?
Supply us with the name of the contact person at your bank or financial institution. We will work with them to find out what arrangements need to be made to procure the title. A guarantee of direct payment of net auction proceeds or payoff may be made in exchange for the title or lien release.
Can I set a minimum on my equipment?
Yes, you may set a minimum price, or "reserve" on your equipment. Please call us to discuss these options.
When do I need to deliver my equipment to your auction?
Equipment needs to be delivered no later than seven days preceding the auction date. This allows potential buyers the opportunity to inspect the equipment prior to the auction, and allows us the opportunity to take pictures for our online bidding site. If so desired, arrangements can be made to deliver the equipment to a storage facility prior to auction set-up.
Maintenance records?
Maintenance records are made available for viewing by potential buyers, thus increasing the potential sale price for your equipment. If you have maintenance records bring them along when you deliver your vehicle.
Transportation of my equipment to the auction?
We can put you in touch with a delivery service to assist you. We can also help match trucks with trailers from the same geographical area to help you save on transportation costs.
What about insurance while my equipment is at your auction?
Insurance coverage for sellers of equipment
You are required to have the equipment insured for the following up until and including the day of the sale.
Liability Insurance Coverage (required)
Collision Insurance Coverage (optional but if there is a claim you are responsible for any loss)
Comprehensive Insurance Coverage (optional but if there is a claim you are responsible for any loss)
Insurance coverage for buyers of equipment
You are required to get the equipment insured for the following beginning on the sale date.
Liability Insurance Coverage (required)
Collision Insurance Coverage (optional but if there is a claim you are responsible for any loss)
Comprehensive Insurance Coverage (optional but if there is a claim you are responsible for any loss)
Equipment preparation?
Condition and appearance are important factors in realizing higher auction prices. A sales rep can assist you in determining what prep work, such as detailing, painting, body work, etc., would effectively put more money in your pocket. If you need help, we can put you in touch with those services.
Do I need to attend the auction?
No, but it helps. It's been shown that a seller who is at the auction representing his equipment will realize a higher price than one that is not. In addition, we will have potential buyers call you prior to the auction if they have specific questions about your equipment. If you do attend the auction please make yourself known to the auctioneer when your item is being sold so the auctioneer can point you out to any potential buyers.
When do I get paid?
Generally, the proceeds, less commission and costs, are remitted to the seller on or before 10 banking days following the auction.
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