During the Auction
Buyer’s Premium (BP) is a small fee that is added to the winning bid of each item. The fee goes to the auction company to cover costs associated with running the sale. This fee is typically 15% for onsite buyers and 18% for online buyers. Although these rates are typical, please check the individual auction page for the buyer’s premium rates, as they may vary. If you are the high bidder, you will enter into a legally binding contract with PPL Auction.
Equipment is sold based on the specific order of the lot catalog. This catalog can be found online a few days before the sale and onsite the day of the auction
Auction times vary and we cannot predict specific times that items may sell. If you are bidding online you can set an “Alert Lot,” which will alert you when we have reached your desired lot.
Once the auction has begun and you are logged into Bidspotter, click the “Bid Now” button next to the auction you would like to participate in. A new window will appear on your screen – this is the Live Auction interface. On the right side there is lot catalog and the left side displays the current lot number, a brief description, the asking bid, the high bid, and a picture (if available) of the lot.
Once a bid is placed, you cannot cancel a bid. Placing a bid is a binding contract and you are obligated to purchase the item if you are declared the winning bidder. Always make sure that you know exactly what you are bidding on. It is recommended that you inspect the item and its condition prior to the sale to ensure that it meets your approval.
Please contact Bidspotter with any issues and not the auction company. You can visit the Bidspotter help desk at http://www.bidspotter.com/forms/help.php or read their Frequently Asked Questions page at http://www.bidspotter.com/forms/FAQS.php for further assistance.
“One money” is an industry term that indicates the grouping of multiple lots for one price.
Note: Although all information has been obtained from sources deemed reliable, the auctioneer and seller make no warranty or guarantee, expressed or implied, as to the accuracy of the information contained in the auction brochure, lot catalog or sale web pages.
Buyer agrees to accept assets purchased per standard auction terms, “AS IS, WHERE IS, WITH ALL FAULTS” WITHOUT ANY REPRESENTATION OR WARRANTY BY PPL AUCTION OR ANY OTHER PERSON. THERE ARE NO EXPRESSED OR IMPLIED REPRESENTATIONS OR WARRANTIES WITH RESPECT TO THE ASSETS INCLUDING, WITHOUT LIMITATION.
Each auction has different specifics about item removal. The lot catalog will contain that particular auction’s instructions for item removal. No equipment may be removed while an auction is in progress. Buyers can pay for their purchases at any time during the sale.
A 15%-18% Buyer’s Premium will be added to the final bid price. All bids are in US dollars. An additional fee (often 3%) will be added to online bids. Your bid is a contract: Place a bid only if you’re serious about buying the item. If you are the high bidder, you will enter into a legally binding contract with PPL Auction.
All successful Bidders agree to make full payment to PPL Auction upon receipt of invoice. Only Bank Wire Transfer, ACH, Money Order, Cash, Bank Check or Cashier’s Check payable to PPL Auction will be accepted. Firm and personal checks accepted only if accompanied by a letter from your bank guaranteeing your funds.
If you are using a wire transfer your bank may wire the funds the day after the sale. All sales are subject to sales and/or local taxes unless a signed exemption form is presented at the time of the purchase. Payment will be made in US dollars only.
What types of payment do you accept?
We accept cash, money orders, wire transfers, ACH’s, company check with a bank letter of guarantee, and cashier’s check. We do not accept credit cards.
When is payment due?
Payment is upon receipt of invoice or within 24 hours of the conclusion of the sale. You cannot remove any items until we have received payment in full.
How do I set up a wire transfer?
If you would like to set up a wire transfer, please call our office at (224) 927-5300 to receive the proper bank information.
Will I be charged Sales Tax?
Sales tax is always applied to purchases made at auctions. Sales tax will be charged on the total purchase price of an item, which includes the Buyer’s Premium. You may present us with a copy of “Tax Exempt” forms so as to not be charged sales tax.
Rigging and removal is the responsibility of the buyer. Small, carryout items, should be removed immediately after the auction or the day after the auction.
Anyone, either a buyer or rigger, who uses a powered vehicle to remove anything from the auction site will need a certificate of insurance. All removal activity must be in accordance with OSHA guidelines and safety standards. Removal may begin when the auction has been completed and FULL PAYMENT has been made.
See the specific auction page for all other auction details and requirements.
Titles relative to titled assets purchased will be mailed to the purchaser’s address on file after payment is received and cleared.