Terms

Terms

ANY ANNOUNCEMENTS MADE DAY OF AUCTION SUPERSEDES ANY MADE PREVIOUS. WHILE ALL ITEMS HEREIN ARE DEEMED TO BE CORRECT, AUCTIONEER, AUCTIONEER’S AGENTS, OR ASSIGNS ASSUME NO RESPONSIBILITY FOR QUANTITY, QUALITY, OR PRESENCE AT OR ON DAY OF AUCTION. DESCRIPTIONS ARE NOT GUARANTEED. THIS INCLUDES BUT IS NOT LIMITED TO MAKE, MODEL, HOURS SHOWING, MILES SHOWN, YEAR OF MANUFACTURE, HORSEPOWER RATING, REMARKS CONCERNING SPECIFIC CONDITIONS OF MERCHANDISE AND/ OR MERCHANTIBILITY FOR A PARTICULAR PURPOSE. ALL ITEMS SOLD WILL BE SOLD AS IS, WHERE IS WITH NO WARRANTY EXPRESSED OR IMPLIED. PURCHASER SHOULD MAKE HIS/HER OWN INSPECTIONS BEFORE BIDDING AND RELY SOLELY ON THAT INFORMATION WHEN MAKING A PURCHASE. MERCHANDISE BECOMES THE SOLE RESPONSIBILITY OF PURCHASER FROM THE MOMENT AUCTIONEER DECLARES THE ITEM SOLD TO THE SUCCESFUL BIDDER.


FEES & CHARGES FOR

EQUIPMENT AUCTIONS

CONSIGNMENT FEES EFFECTIVE JANUARY 1, 2010

Since beginning business in 2000, Mayer Auctioneering has not changed their commission rates. Due to the increase in diesel, minimum wage and the cost of advertising we find it necessary to restructure our commission rate, beginning January, 2010. The good news is, the consignors that bring the high end machinery will actually see a decrease in their commission rate. We are no longer basing commission on an incremental scale, but on a sliding scale, meaning that you will pay commission based on the percentage bracket your item falls within. The minimum commission of $5.00 per item is still in effect. As always, should you have an item that gets near the price that you are asking, we will work with you on the commission on a case by case basis, but not to the extent that we reduce commission every time you have something to sell.

We also will begin to offer live internet bidding with a major auction internet provider sometime after the first of the year, hopefully January, but may be a little later. This will be offered for the larger items, i.e., tractors, construction equipment, larger implements, and some vehicles. By offering live internet bidding, we will be accepting bids throughout the United States, which hopefully will result in higher dollar sales for these type items. We also have implemented absentee bidding on larger items.

Other changes are: Buyer’s premium will now be 10% on any item selling for $200 or less. NSF fees are increasing from $25 to $35.

NEW COMMISSION STRUCTURE

Sliding Scale (commission is pulled from whatever tier your item falls within)

Example – your item sells for $6,500.00 – Your commission will be 8% / Your item sells for $200.00 – Your commission will be 20%

  • $0.01 – $250.00 20%

  • $250.01 – $6,000.00 10%

  • $6,000.01 – $10,000.00 8%

  • $10,000.01 and above 6%

These fees are per item!!

A PO Fee of 20% for any item bought back at $100 and under will apply.

$5.00 MINIMUM COMMISSION PER LOT!

RESERVES

WE ALLOW RESERVES (MINIMUMS) TO BE SET, PROVIDED THEY ARE REALISTIC IN TODAY’S MARKET, HOWEVER WE DO NOT ACCEPT ANY UNDER $500.00. IF YOU CAN NOT SELL A PARTICULAR ITEM WITH A VALUE OF $500.00 OR LESS, YOU NEED TO BE AT THE AUCTION AND P.O. IT IMMEDIATELY AT THE CONCLUSION OF THE BIDDING PROCESS.

IF AN ITEM DOES NOT SELL AT THE FIRST AUCTION, YOU MAY LEAVE IT, AND IF IT HAS A RESERVE SET YOU WILL BE ASKED TO LOWER IT FOR THE SECOND AUCTION. IF IT STILL DOES NOT SALE, THEN THE THIRD AUCTION IT WILL SELL ABSOLUTE OR YOU WILL NEED TO PICK THE ITEM BEFORE THE WEEK OF THE THIRD AUCTION.

PO FEES

WE DO NOT CHARGE PO FEES AT THIS TIME EXCEPT ON SMALL ITEMS SELLING FOR $100.00 OR LESS. ABSOLUTELY NO “FENDER TRADING” IS ALLOWED. IF IT SELLS, IT GOES THRU US–NO EXCEPTIONS! PO FEES FOR ITEMS $100 AND LESS IS 20%

BUYER’S PREMIUM

GENERALLY SPEAKING, OUR EQUIPMENT AND MACHINERY AUCTIONS (SATURDAY AUCTIONS) WILL CARRY A 10% BUYER’S PREMIUM ON ALL INDIVIDUAL PURCHASES UNDER $200.00 ONLY (PER PIECE, PER LOT). I.E. A LOT CONSISTING OF 25 PIECES OF IRON SOLD AT $5.00 PER PIECE IS $125.00…THIS WILL CARRY A 10% BUYER’S PREMIUM OR $12.50. THERE WILL BE NO BUYER’S PREMIUM ON INDIVIDUAL LOT PURCHASES IN EXCESS OF $200.01. I.E. A POST HOLE DIGGER SELLS FOR $250.00; THERE IS NO BUYER PREMIUM.

TITLE FEES

THE BUYER IS CHARGED A $35 FEE FOR TITLED VEHICLES, & VEHICLES WITH MSO FORMS AND REGISTRATION RECEIPTS. THIS IS PER TITLED VEHICLE. TITLE AND PAPERWORK FOR PROCESSING THE TITLE IS SENT TO YOU VIA CERTIFIED MAIL, RETURN RECEIPT REQUESTED. YOU WILL STILL HAVE TO PAY THE TAX COLLECTOR TO REGISTER YOUR VEHICLE; ie: LICENSE & RELATED FEES AND ANY APPLICABLE TAX. WE DO NOT SEND OUT “OPEN” TITLES AND YOU SHOULD MAKE SURE DAY OF AUCTION THAT OUR OFFICE HAS A CLEAR UNDERSTANDING OF THE NAME AND SPELLING OF THE PERSON’S NAME THAT IS TO BE PLACED ON THE TITLE. WE ALSO DO NOT “HOLD” TITLES.

PAYMENTS

IF YOU PAY BY CREDIT CARD, A 3.75% ADMINISTRATIVE FEE WILL BE CHARGED FOR USE OF YOUR MASTERCARD, VISA, AMERICAN EXPRESS, OR DISCOVER.

FEES AND CHARGES FOR ANTIQUES, COLLECTIBLES AND HOUSEHOLD ESTATE AUCTIONS

CONSIGNMENT FEES

CONSIGNMENT FEES WILL BE BASED ON THE ITEMS BEING CONSIGNED. IF YOU HAVE A LARGE QUANTITY OF ITEMS TO SELL, WE WILL BE HAPPY TO COME LOOK AT WHAT YOU WISH TO CONSIGN AND GIVE YOU A QUOTE. OTHERWISE, WE WILL GIVE YOU A CONSIGNMENT FEE AT THE TIME THAT YOU BRING YOUR ITEMS IN TO CONSIGN.

MINIMUM COMMISSION OF $2.00 PER LOT WILL APPLY.

BUYER’S PREMIUM

ANTIQUE AUCTIONS WILL CARRY A 10% BUYER’S PREMIUM ON ALL PURCHASES.

PAYMENTS

A 3.75% ADMINISTRATIVE FEE WILL BE CHARGED FOR ANY PAYMENT PAID BY CREDIT CARD…VISA, MASTERCARD, AMEX AND DISCOVER. IF YOU ARE A NEW BUYER WITH US AND PLAN ON SPENDING $1,000 OR OVER PLEASE BRING A BANK LETTER OF GUARANTEE WITH YOU OR YOUR MERCHANDISE WILL NEED TO STAY UNTIL YOUR CHECK CLEARS OUR BANK.

PAYMENT POLICY EFFECTIVE DECEMBER 19, 2003.

PAYMENT IS DUE IN FULL DAY OF AUCTION IN THE FORM OF CASH, CASHIER’S CHECK OR PERSONAL CHECK WITH BANK LETTER OF CREDIT, OR CREDIT CARD. IF WE HOLD A 2 DAY AUCTION, PAYMENT IS DUE IN FULL AT THE CLOSE OF EACH DAY UNLESS WE ANNOUNCE OTHERWISE! FOR PROXIBID INTERNET BIDDERS, PAYMENT IS DUE NO LATER THEN THE CLOSE OF BUSINESS @ 5:00 P.M. ON THE TUESDAY OF THE SATURDAY FOLLOWING THE AUCTION; IN OTHER WORDS 3 DAYS. INTERNET BIDDERS MAY PAY BY CASH IN HAND, CHECK WITH BANK LETTER OF GUARANTEE, VERIFIABLE CASHIER CHECK, CREDIT CARD WITH AN ADDITIONAL 3.75% ADMINISTRATIVE FEE ADDED, OR WIRE TRANSFER, UNDER NO CIRCUMSTANCES WILL ANY MERCHANDISE LEAVE UNTIL GOOD VERIFIABLE FUNDS ARE RECEIVED.

PLEASE DON’T BE OFFENDED BY THE FOLLOWING, BUT DUE TO FOLKS THAT SEEM TO HAVE LITTLE PROBLEM WRITING A CHECK AND A BIG PROBLEM IN GETTING THE MONEY IN THE BANK ON TIME, EFFECTIVE IMMEDIATELY, THE FOLLOWING POLICY REGARDING PAYMENT BY PERSONAL OR BUSINESS CHECK WILL BE IN EFFECT!!

IF YOU CAN’T PAY FOR IT, DON’T BUY IT!!! IT’S THAT SIMPLE!! WHEN YOU BUY IT, IT’S SOLD WITHOUT WARRANTY, AS-IS, WHERE-IS, AND IT’S YOUR SOLE RESPONSIBLIITY FROM THE MOMENT AN ITEM IS DECLARED SOLD TO YOUR NUMBER.

IF YOU DRIVE IT HOME, ITS YOUR RESPONSIBLITY TO GET THE PROPER INSURANCE. NO VEHICLES OR TRAILERS HAVE INSURANCE AT TIME OF SALE. VEHICLE AND TRAILER TITLES WILL BE SENT TO YOU VIA CERTIFIED MAIL 14-21 BANKING DAYS AFTER THE CONCLUSION OF THE AUCTION AS A GENERAL RULE AND IT IS THE BUYER’S SOLE RESPONSIBLIITY TO PROCESS INTO THEIR NAME ANY TITLES SENT YOU WITHIN 60 DAYS OF THE CONCLUSION OF THE AUCTION. NO TITLES WILL BE SENT “OPEN” SO DON’T ASK. ALL TITLES WILL BE IN GOOD TRANSFERABLE CONDITION TO THE PURCHASER OR SUCCESSFUL BIDDER. ANY TITLES NOT TRANSFERED WITHIN THE 60 DAY TIME LIMITATION BECOME THE SOLE RESPONSIBILITY OF THE PURCHASER.

IF YOU ARE KNOWN TO US AND HAVE ESTABLISHED A GOOD HISTORY WITH US, WE RESERVE THE RIGHT ON AN INDIVIDUAL CASE BY CASE BASIS TO WAIVE LETTERS OF GUARANTEE BY THE BANK AND ACCEPT YOUR CHECK. IF IN DOUBT, YOU SHOULD CHECK WITH THE OFFICE. WE KNOW MANY OF YOU, AND YOU HAVE EARNED OUR COMPLETE TRUST & RESPECT.

IF IT IS YOUR FIRST TIME TO ATTEND OUR AUCTION, WE WELCOME YOU AND LOOK FORWARD TO MEETING YOU AND GETTING TO KNOW YOU. WE WILL REQUIRE THE FOLLOWING REGARDING PAYMENT FOR PURCHASES: BANK LETTER OF GUARANTEE TO MAYER AUCTIONEERING GUARANTEEING YOUR CHECK IN THE AMOUNT OF YOUR PURCHASE TO BE PRESENTED AT THE TIME OF REGISTRATION. IF YOU DO NOT HAVE ONE, YOU MAY BE EXTENDED THE RIGHT TO PURCHASE MERCHANDISE UP TO A PREAGREED AMOUNT, (THIS IS ON A CASE BY CASE BASIS AT OUR OPTION; NOT YOURS). BUT IN ANY EVENT, YOU WILL BE EXPECTED TO LEAVE ALL MERCHANDISE ON THE YARD UNTIL YOUR CHECK CLEARS THE BANK OR YOUR BANK CAN FAX US A LETTER OF GUARANTEE THE NEXT BUSINESS DAY FOLLOWING THE AUCTION. MERCHANDISE WILL BE LEFT AT BUYER’S OWN RISK, NOT OURS.

WE WILL NOT ACCEPT POST DATED CHECKS AND WE WILL NOT “HOLD” ANY CHECK FOR A “DAY OR TWO” AS THIS IS VIEWED UNDER THE TERMS OF TEXAS LAW AS AN EXTENSION OF CREDIT. ALL CHECKS WILL BE DEPOSITED FOR COLLECTION AT THE CONCLUSION OF THE AUCTION DAY…NO EXCEPTIONS.

DUE TO THE NATURE OF SOME MERCHANDISE AND LEGAL REQUIREMENTS OF CERTAIN SPECIFIC CONSIGNORS, WE MAY REQUIRE THAT MERCHANDISE BE LEFT ON OUR YARD UNTIL “GOOD FUNDS” ARE RECEIVED. WE APOLOGIZE FOR THIS IN ADVANCE, BUT WE WILL ANNOUNCE THESE SPECIFIC TERMS PRIOR TO SALE OF ANY OF THESE ITEMS. THIS IS PARTICULARLY TRUE OF MERCHANDISE BEING SOLD THRU THE COURT OR BY COURT ORDER.

WE DO NOT GENERALLY ACCEPT DRAFTS OR WIRE TRANSFERS INTO OUR BANK ACCOUNT AFTER THE CONCLUSION OF THE AUCTION UNLESS YOU ARE A BIDDER THRU PROXIBID. WE ARE SORRY BUT THIS GOT ABUSED TOO MAY TIMES! IF YOU NEED TO WIRE TRANSFER, YOU SHOULD MAKE ARRANGEMENTS PRIOR TO THE AUCTION EVENT. THIS IS ON A CASE BY CASE BASIS. ABSENTEE BIDDERS MAY BE REQUIRED TO GIVE US CREDIT CARD INFORMATION.

ANY MERCHANDISE PAID FOR BY CASH MAY BE IMMEDIATELY REMOVED FROM OUR FACILITY UPON RECEIPT OF A PAID CHECK-OUT INVOICE. NO REMOVALS UNTIL MERCHANDISE IS PAID FOR IN FULL–NO EXCEPTIONS. THE SAME WILL APPLY TO CREDIT CARD PURCHASES. ALL CREDIT CARD PURCHASES, SAME AS ANY OTHER, WILL BE CONSIDERED FINAL. NO STOP PAYMENT OF ANY KIND WILL BE ALLOWED. (THE SAME TERMS AS A RETURNED CHECK WILL BECOME APPLICABLE)

PAYMENT BY CREDIT CARD AT ANY OF OUR AUCTIONS WILL CARRY A 3.75% ADMINISTRATIVE FEE ADDED TO EVERY PURCHASE. SHOULD THIS NOT BE THE CASE IT WILL BE POSTED ON THE INDIVIDUAL AUCTION TERMS.

IF FOR ANY REASON, YOUR CHECK DOES NOT CLEAR THE FIRST TIME IT IS PRESENTED AT YOUR BANK YOU ARE AUTOMATICALLY ON 90 DAY PROBATION WHICH MEANS THAT NO MERCHANDISE THAT YOU MAY PURCHASE DURING THAT PERIOD WILL LEAVE THE YARD UNTIL YOUR CHECK CLEARS THE BANK. ANY MERCHANDISE YOU MAY HAVE STORED ON OUR FACILITY GROUNDS FROM PREVIOUS AUCTIONS WILL BE HELD AS WELL UNTIL YOUR “BOUNCED” CHECK CLEARS. YOU MAY HOWEVER, PAY BY CREDIT CARD OR CASH OR PERSONAL CHECK WITH BANK LETTER OF GUARANTEE AND YOUR MERCHANDISE WILL BE RELEASED UPON PAYMENT IN FULL. IF IN THE EVENT THAT THE ERROR IS THE FAULT OF YOUR BANK, WE WILL WAIVE THE 90 DAY PROBATION UPON RECEIPT OF A LETTER ON YOUR BANK’S LETTERHEAD.
OUR POLICY FOR A “HOT CHECK” OR “BOUNCED CHECK” OR RETURNED CHECK FOR ANY REASON

WE WILL, IMMEDIATELY AND WITHOUT HESITATION PROSECUTE YOU TO THE FULLEST EXTENT ALLOWED BY LAW; SO PLEASE, PLEASE DON’T WRITE US ANY “HOT” CHECKS.

SALES TAX EXEMPTION

SALES TAX WILL BE COLLECTED AT A RATE OF 8.25% UNLESS PROOF OF CURRENT TEXAS RESALE CERTIFICATE IS ON FILE OR A CURRENT SIGNED FARM USE AFFIDAVIT IS SIGNED AND ON FILE! IF ANY HEAVY MACHINERY IS SOLD THAT QUALIFIES FOR THE 2% HEAVY EQUIPMENT TAX CHARGED BY THE STATE OF TEXAS THAT WILL ALSO BE COLLECTED AT POINT OF SETTLEMENT.

NO EXCEPTIONS! ITS THE LAW!

LAW ENFORCEMENT

OUR BOOKS AND YARD ARE OPEN TO LAW ENFORCEMENT OFFICIALS AT ANY TIME FOR INSPECTION. MERCHANDISE MUST HAVE SERIAL NUMBERS WHERE APPLICABLE. TITLES AND REGISTRATION PAPERWORK IS REQUIRED @ TIME OF CHECK-IN.

FOR THE PROTECTION AND MUTUAL BENEFIT OF ALL CONCERNED, THERE WILL BE NO EXCEPTIONS MADE TO THESE TERMS. WE WANT TO THANK EVERYBODY IN ADVANCE FOR THEIR COOPERATION AND UNDERSTANDING IN THIS MATTER.

THANKS TO YOUR SUPPORT, WE LOOK FORWARD TO GROWING AND EXPANDING OUR BUSINESS. WITHOUT YOU, THE SELLERS AND BUYERS, OUR AUCTION WOULD NOT BE POSSIBLE AND WE SINCERELY APPRECIATE EACH OF YOU! HAVE A GREAT DAY!