Links to TRansactional Resources
Here you will find links to all of the questions that might come up when you buy or sell at an auction. Whether you want to know the terms and conditions of the sale, auction deadlines or registration requirements, they are all conveniently listed below to answer all your questions. If you are not quite sure what you question is, be sure to check our Frequently Asked Questions section, as it contains some of the most common questions when buying and selling at an auction.
Inspection and Bidding
Collection of Personal Information
Complete Terms of Bidding and Sale
Registration Requirements
Payment and Removal Terms
Fee Schedule
Seller Services
Additional Services
Delivery Requirements
Title Requirements
Frequently asked Questions
Inspection and Bidding
The drive-thru portion of our auction begins with the "terms of bidding and sale" announcement promptly at the auction start time. Equipment is driven across the auctioneers staging area where you may bid on equipment from your seat. After the drive-thru portion of the sale is complete, MAC then conducts another separate auction for the larger equipment that is not driven over the auctioneer staging area and the smaller tools equipment. Please be aware if you have someone bid on your behalf, you are responsible for all purchases made with your bidder card regardless of who bids on your behalf.
Insurance is the responsibility of the buyer as soon as the bid is awarded by the auctioneer. Please make prior arrangements to have any equipment you may purchase insured.
Please make sure you inspect any equipment prior to bidding. DO NOT bid on any equipment that you have not thoroughly inspected. All equipment is sold "as is, where is" and MAC does not guarantee any piece of equipment to be mechanically sound. Descriptions in the catalog are a guide only and it is your responsibility to check serial numbers and the condition of the equipment before you make a bid and all bids are final and will not be "run through" again. You will be legally responsible for any purchases you make at auction.
Collection of Personal Information
MAC uses information collected from individuals to provide products or services, to respond to requests for information regarding MAC's products and services, and for additional purposes that may be identified at or before the time that the information is collected. The information gathered will be used for general corporate marketing purposes, thereby enabling MAC to refine and improve our service and better meet our customers' needs.
MAC will not use or disclose personal information for purposes other than those for which it was collected, except with the consent of the individual or as required or permitted by law. Once the information is no longer required to fulfill its intended purposes, and is no longer required or permitted to be retained for legal or business purposes, it will be destroyed, erased, or made anonymous.
Complete Terms of Bidding and Sale
The following legal mumbo-jumbo are the terms and conditions of the auction that our lawyers require us to put up.
A shorter version is as follows:
-We're not going to make you pay to look or bid. (No deposit for bidder number)
-We'll tell you what we know about the item, and what we've been told about the item, we're not trying to pull a fast one on anyone...but please, make sure you inspect the item so you are aware of what you are buying.
-If you buy something, we want you to pay for it-- that day--by cash, check or wire transfer (online is only wire transfer).
-We want you to pick up your items in a timely manner.
-There is a fee for buying. Buyer’s premiums and will be assessed on a per Lot basis and the fee amounts are printed in the sale day Listing Catalog. Please refer to the sale day catalog for applicable buyer fees.
-There is a $35 administrative fee that apply to pieces requiring a title.
-We're trying to conduct business as honestly and genuine as possible. Please give us the same courtesy.
The complete terms and conditions are listed below. If you have any questions, we'd be happy to answer them. Please call us (712) 477-2105 or send an email to info@bidmacauctions.com.
1. Midwest Ag and Construction Auctions (“Auctioneer”) hereby grants to the Bidder the right to use the number shown on the Listing Catalog provided by Auctioneer to Bidder (the “Bid Number”) for the purpose of bidding at an auction sale on the date and at the location set forth in the Listing Catalog (the “Auction”), subject to these Terms of Bidding & Sale (the “Terms”). “Bidder,” as that term is used herein, means the party whose signature appears on the Bidder’s Registration Agreement, a party that bids at the Auction by absentee bid, a party that bids at the Auction online, and any other party that is assigned a Bid Number and uses that Bid Number to bid at the Auction. Any and all rights granted to Bidder pursuant to the Terms may be revoked by Auctioneer at any time in Auctioneer’s sole discretion. Auctioneer reserves the right to refuse to accept any bid by any Bidder in Auctioneer’s sole discretion. Bidder understands and agrees that the Bidder is responsible for complying with all Terms including but not limited to payment of all purchases by Bidder at the Auction, regardless of whether such purchases were made by Bidder for or on behalf of another party.
2. By making a bid, regardless of how such bid is made, Bidder acknowledges that Bidder has received, read, understands, and agrees to comply with and be bound by the Terms.
3. The Auction will be conducted by the Auctioneer putting up goods in lots, either as individual goods or as groups of goods (a “Lot”). A Bidder whose bid is accepted by the Auctioneer shall pay for the Lot and remove the Lot from the Auction site pursuant to the Terms. No Bidder shall retract or revoke Bidder’s bid for any reason once such Bid is accepted by Auctioneer. All sales of Lots are final.
4. ALL GOODS SOLD AT THE AUCTION ARE “AS IS,” “WHERE IS,” AND “WITH ALL FAULTS.” THERE ARE NO GUARANTEES OR WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT TO THE GOODS. ALL WARRANTIES REGARDING SUCH GOODS, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTIBILITY AND FITNESS FOR A PARTICULAR PURPOSE, ARE EXCLUDED. SPECIFICALLY, BUT WITHOUT LIMITATION, AUCTIONEER MAKES NO REPRESENTATION OR WARRANTY THAT ANY OF THE GOODS CONFORM TO ANY STANDARD OR REQUIREMENT IN RESPECT TO SAFETY, POLLUTION, OR HAZARDOUS MATERIAL OR CONFORM TO OR COMPLY WITH ANY APPLICABLE LAW OR ARE OF ANY PARTICULAR AGE, YEAR, MAKE, MODEL, CONDITION, OR CONFORM TO ANY SPECIFICATIONS OF OR LITERATURE OR ADVERTISEMENT DESCRIBING THE GOODS.
5. No deposit is required to obtain bidder number.
6. Bidder shall pay Auctioneer the purchase price of each Lot in full on the day of the Auction unless otherwise previously arranged with Auctioneer. All payments shall be by cashier’s check, money order, company or personal check or wire transfer payable to Midwest Ag & Construction Auctions. Bidder shall not be entitled to possession of any Lot purchased by Bidder at the Auction and shall not be entitled to the return of Bidder’s deposit until the total purchase price, including any applicable sales or use taxes or any other fees, for all Lots purchased by Bidder at the Auction has been paid in full. In the event Bidder fails to pay for the Lot or Lots purchased as set forth herein, Auctioneer may charge the Bidder interest at the legal rate, which in any event shall not be less than ten percent (10%), per annum on the balance owed.
7. Bidder shall remove all Lots purchased from the Auction site no later than the 4th day following the Auction, except that no Lot shall be allowed to be removed from the Auction site after dusk on the day of the Auction. Upon the acceptance of a bid on a Lot, the Lot shall become the sole responsibility of Bidder and Bidder shall bear all risk of loss regarding the Lot. Loading assistance may be provided by Auctioneer as a courtesy; however, Bidder assumes all risk, responsibility, and expense for loading and removal of Lots from the Auction site. Bidder shall use prudence in effecting such removal and agrees to obtain adequate and appropriate insurance coverage for any required dismantling, rigging, or hot cutting of Lots. Auctioneer shall not be responsible for loss, damage, or theft of any Lot purchased. Any loss, damage, or theft does not in any way relieve Bidder from paying the full purchase price for any Lot. In the event Bidder fails to remove the Lot(s) purchased at the Auction by the date and time set forth above.
8. Any payment received from Bidder, and any proceeds received from the resale of Bidder’s Lot(s) may, in Auctioneer’s sole discretion, be first applied to prior outstanding amounts due Auctioneer by Bidder. Nothing contained in the Terms shall be deemed or construed in any way to limit Auctioneer’s rights or remedies against Bidder. All of Auctioneer’s rights and remedies are cumulative, and the Terms shall not limit or preclude Auctioneer from taking additional action against Bidder or from seeking additional relief from Bidder to which Auctioneer may be entitled. All such rights and remedies are expressly reserved by Auctioneer.
9. Bidder acknowledges that, prior to bidding on any goods, Bidder had an opportunity to conduct an inspection of the goods to Bidder’s satisfaction and either conducted such an inspection or voluntarily decided not to conduct such an inspection. Bidder further acknowledges that Bidder did not rely on any representations or statements made by Auctioneer or any of Auctioneer’s employees or agents about the goods in deciding to bid on any goods. Bidder agrees to make any repairs to the goods purchased which are necessary to put the goods into good and safe operating condition and assumes all risk for and liability for damage or injury arising out of the operation of such goods.
10. Bidder, whether an individual or acting as a principal, agent, employee, officer, or director of a corporation, limited liability company, partnership, or other entity, jointly and severally agrees to:
(a) defend, indemnify, and save harmless Auctioneer, Auctioneer’s consignors, and their respective officers, directors, employees, agents, attorneys, and its consignors against and/or from any and all actions, causes of action, suits, damages, costs, expenses, including but not limited to reasonable attorneys’ fees, and losses of any nature, including injury and death, arising from the Bidder’s, Auctioneer’s, or Auctioneer’s consignor’s acts or omissions or the purchase or use of any of the goods purchased at the Auction, or the attendance or participation of Bidder, or Bidder’s agents, officers, directors, or employees, at the Auction and/or on the Auction site whether before, during, or after the Auction; and
(b) pay the purchase price, Auctioneer’s fees and/or commissions, any applicable Department of Motor Vehicles (DMV) fees, and taxes due on all Lots purchased by Bidder at the Auction.
11. The Terms shall be governed by and interpreted under the laws of the State of Iowa. Any action or proceeding filed by Auctioneer or Bidder for the enforcement or interpretation of these Terms or otherwise arising out of or relating to these Terms or the Auction shall be filed in the State of Iowa, County of Lyon. Bidder agrees that these Terms were entered into and performed in Iowa and that the exclusive venue for any such action or proceeding lies within Lyon County, Iowa. Bidder further agrees that Bidder is subject to the jurisdiction of the State of Iowa, Lyon County and waives any objection that it is not subject to such jurisdiction or that Lyon County is an inconvenient or improper forum.
12. Bidder acknowledges that an auction site is a potentially dangerous place. Flammable, noxious, corrosive and pressurized substances are present, heavy equipment is being operated, and electric circuits may be live. Every person at the Auction site at any time shall be there at his or her own risk without notice of the condition of the premises and the activities thereon and Bidder shall so advise his agents and employees. No person shall have any claim against Auctioneer, its officers, directors, agents, employees, principals, or attorneys for any injuries, damages, or loss of any kind, which may occur from any cause whatsoever while on the Auction site. All persons enter the Auction site at their own risk.
13. If the Bidder registered at the Auction under multiple Bid Numbers, all purchases under all Bid Numbers shall be subject to the Terms. If a Bidder possesses multiple Bid Numbers, all invoices must be paid in full as set forth herein before release of any Lots.
14. Auctioneer, at any time, and at its sole discretion, without notice or liability to Bidder may: (a) withdraw or cancel the sale of any Lot, or (b) offer any Lots in groups. Auctioneer may invalidate any sale for any reason and without notice or liability to Bidder and Auctioneer’s sole liability shall be the return of monies paid for the Lot by Bidder.
15. No Bidder shall bid on any Lot: (a) of which Bidder is the consignor or owner of the goods put up for auction; or (b) as agent, or associate, or on behalf of the consignor or owner of such goods.
16. Any dispute arising as to any bidding shall be settled by Auctioneer at its sole discretion and Auctioneer may put the Lot(s) in dispute up for sale again.
17. Auctioneer will deliver or make available to Bidder, at Auctioneer’s option; title to all Lots purchased free and clear of any liens or encumbrances within forty-five (45) days following receipt of full payment for all Lots purchased by Bidder. Partial payments will not allow title processing to begin. Title processing will begin only after full and complete payment for all Lots purchased has been made and funds have cleared. Title Documents will be prepared only in the state in which the Auction occurs. Bidder appoints auctioneer as attorney in fact to sign and complete all necessary title documents to transfer ownership as required by law. A document processing fee of not less than thirty-five dollars ($35.00) per Lot will be charged, in addition to all other amounts due hereunder, whether the Lot is comprised of one or more goods and irrespective of Bidder’s use or intended use of the Lot. If for any reason, Auctioneer is unable to make available or deliver clear title to any Lot, Auctioneer’s sole liability shall be the return of monies paid for the Lot by Bidder. Bidder expressly waives any and all claims for any damages or loss whatsoever against Auctioneer for Auctioneer’s failure or inability to obtain clear title for the Lot(s) purchased. Any such Lot(s) shall be returned or surrendered upon demand by Auctioneer to the location of purchase at Bidder’s sole expense, as a condition to Auctioneer’s obligation to return such monies.
18. The Terms may not be modified by Bidder without Auctioneer’s prior written consent.
19. The Auction may be recorded via digital audio and/or video recording.
“BIDDER’S REGISTRATION AGREEMENT”
BY USING THE BID NUMBER APPEARING HEREON AT THE AUCTION, THE UNDERSIGNED BIDDER ACKNOWLEDGES THAT BIDDER HAS RECEIVED, READ, UNDERSTANDS AND AGREES TO BE BOUND BY THE “TERMS OF BIDDING AND SALE” (“TERMS”)PRINTED ON THE INSIDE FRONT COVER AND BACK COVER OF THE LISTING CATALOG.
20.Buyer’s premiums and will be assessed on a per Lot basis and the fee amounts are posted the day of the sale as well as announced by the auctioneer before the sale begins. If you have any questions, please see a MAC representative.
21. The Listing Catalog has been prepared as a guide only, based on information from sources believed to be reliable and from the consignor(s) of the Lot(s); however, its accuracy cannot be guaranteed or warranted. No sale shall be invalidated nor shall Auctioneer, its officers, directors, employees, agents, or attorneys be liable as a result of defects or inaccuracies in the Listing Catalog.
22. Auctioneer will make every effort to provide Bidder with information that is deemed to be accurate but in no way guarantees the accuracy of the information. Any clerking error or omission, printing error or omission, serial numbers or description discrepancies including make, model or year, fuel type, engine type or any other error or omission made by Auctioneer shall not invalidate any sale of any Lot. Bidder acknowledges that it is Bidder’s sole responsibility to verify make, model, year, fuel type, serial number or any other information that a Bidder deems necessary and Bidder has satisfied all inquiries prior to any bidding.
23. Iowa sales tax does not apply for this sale.
24. If any provision of the Terms is held to be void or unenforceable, the remaining provisions shall remain valid and enforceable and shall be construed in such a manner as to achieve their original purposes in full compliance with all applicable laws and regulations.
25. Bidder may not assign any of the Terms without the prior written consent of Auctioneer. Any assignment or attempted assignment in violation of this provision is void.
26. The Terms are binding on and shall insure to the benefit of Auctioneer’s and Bidder’s respective successors and permitted assigns.
27. In the event either Auctioneer or Bidder files any action or other proceeding to enforce or interpret the terms of the Terms, the prevailing party in any such action or proceeding shall be entitled to recovery its reasonable attorneys’ fees and costs in connection therewith from the non-prevailing party.
Registration Requirements
A valid US Driver's license or Passport is required to register. After you have registered, you will receive a catalog of items to be auctioned in sequential lot number order as well as a bidder number.
Payment and Removal Terms
Payment for all items is due at the end of the auction on the same day of the sale. Upon registering for a bidder number, please denote if you will be making a bank or wire transfer. All bank and wire transactions must be arranged before you leave the auction site.
No purchases will be allowed to leave the auction site unless they are paid in full.
Final payment may be made in any of the following ways:
A. Cash
B. Check
C. Cashier's Check
D. Bank Wire Transfer
E. Direct Deposit MAC Bank Account
F. Money Order
G. Credit Cards are not accepted at this time.
MAC will gladly help coordinate your hauling. Please see any of the MAC personnel who will assist you in securing a local, national, or international transportation. Dismantling and containerizing coordination is also available.
Loading assistance is available and MAC provides a loading ramp to assist in loading your equipment. MAC staff members offer loading assistance only and the buyer assumes all responsibility for safely loading their purchases.
Equipment must be removed from the auction site by Wednesday following the auction.
Fee Schedule
Buyer's Fees:
DMV Document Preparation Fee
$35.00 per DMV item whether sold separately or as one lot.
Buyer's Premiums
At the live auction-
5% of the purchase price
At the online auction-
7% of the purchase
Seller's Fees:
Commissions
We want to ensure that it makes sense for each individual client of ours to work with us. We don't want to give a straight "one size fits all" approach to a commission rate of a $75 piece of equipment as we would a $300,000 piece of equipment. So, please contact us to discuss how you can achieve the fairest commission rate around for your land or equipment.
DMV Consignments
$35 per DMV item for standard processing
Additional services available upon request
Lien and Title Searches
UCC Searches are $85 and up
DMV Lien/Title Verification Searches are $12 per search
Seller Services
MAC can handle all aspects of your auctioneering needs including coordinating your transportation, accurately appraising equipment, repairing, detailing and refurbishing, national and global marketing, 1031 exchanges, DMV paperwork/processing and loan/lien payoffs just to name a few of our comprehensive services.
MAC prides itself and is known for its quick processing of proceeds to our sellers. Whether you are selling one piece, an entire fleet of inventory or simply need to purchase equipment, you can be confident that MAC will maximize your return and provide you with an uncompromising level of service.
Additional Services
For your convenience, we offer the following services.
* Hauling
* Upholstery
* Detailing
* Glass
* Mechanic Services
* Painting
* Pressure Washing
* Tires
* DMV Services
Delivery Requirements
All items must be delivered by Saturday, one week prior to the auction. Transportation assistance is available, if needed.
Title Requirements
All titles should arrive no later than one week prior to the auction. All titled items should have current registration. The consignor should be listed on the front of the title as the registered owner, if not a Bill of Sale (REG 262) from the registered owner. If the title is lost, a duplicate can be applied for at the same time as the transfer to the buyer. If there is a lien holder and the items is NOT paid off, please provide all contact information for the lien holder. This includes all items that are "floored".
Frequently asked Questions
Q: Who is allowed to attend and buy? A: All auctions are open to the public.
Q: May I write a personal or company check to pay for my purchases? A: Yes, don't bounce it. We'll hunt you down.
Q: May I use a credit card to pay for my purchases? A: No. Credit Cards are not accepted at this time.
Q: When do I have to pick up my purchases? A: Purchases must be picked up no later than Wednesday @ 4pm following the auction.
Q: When is final payment on my purchases due? A: The same day. Final payment by wire transfer is due Monday following the auction by 5pm.
Q: Is there a loading ramp? A: MAC has a ramp to help you load your equipment.
Q: Do you have hauling assistance available? A: We can assist you in coordinating hauling locally, nationally, or internationally.
Q: Does MAC offer assistance with overseas shipments? A: Coordination of dismantling, containerizing and shipment of equipment overseas can be coordinated through our offices.
Q: Can I register online and still come to the auction and bid? A: You are still welcome to bid live at the auction even though you have registered online. You will need to fill out a bidder card at the auction when you arrive.
Q: Can I have someone else bid on my behalf? A: You may have someone bid on your behalf, however, the representative that you send will ultimately be responsible for your purchases on your behalf.
Q: How do I leave a absentee bid? A: You can stop by the auction site, call the corporate office, or call the auction site any time after the auction has been lotted to leave an absentee bid.
Q: What is the difference between ProxyBid and an absentee bid? A: ProxyBid is live online bidding where you may view lots and bid online while the auction is actually taking place. Absentee bidding is leaving a set price where the auctioneer bids on your behalf up to your maximum bid.
Terms Vesrion 1.5 Updated: June 1, 2010