- 13% BUYERS PREMIUM for each item that sells for $999.99 or less. If buyer pays with cash, wire transfer, or cashier's check, then we waive 3% of the buyer's premium, which makes it 10%.
- 6% BUYERS PREMIUM for each item that sells for $1,000.00 or more. If buyer pays with cash, wire transfer, or cashier's check, then we waive 3% of the buyer's premium, which makes it 3%.
BUYERS PREMIUM is as follows on all regularly scheduled online purchases:
13% BUYERS PREMIUM for each item that sells for $999.99 or less. If buyer pays with cash, wire transfer, or cashier's check, then we waive 3% of the buyer's premium, which makes it 10%.
6% BUYERS PREMIUM for each item that sells for $1,000.00 or more. If buyer pays with cash, wire transfer, or cashier's check, then we waive 3% of the buyer's premium, which makes it 3%.
Posted closing times and displays of Auction Co.'s current time are approximate. Auction Co. reserves the right to close early or extend auctions at any time at its discretion. It is strongly recommended that bids be placed early to avoid losing out due to an ill-timed, last minute bid. All times are Grand Rapids MI, Time. Dynamic bidding - The dynamic bid on this website is a feature that does NOT allow an item to sell at the end of the auction until there is 10 minutes of bidding inactivity. Example - An item is bid on at 7:50pm. An auction is scheduled to close at 8:00pm. When this bid is place the ending time will automatically extend to 8:10pm. When another bid is place at 8:01 the auction will extend until 8:20pm. This will give bidder 19 minutes to place another bid. If no bids are placed this auction will conclude at 8:20pm. The key to your dynamic bidding feature is that the auction extends from the preset closing time in 10 minute intervals, NOT 10 minutes from when you placed your bid. Sales Subject to Approvals: This means that an items sale is contingent upon receiving the approval of the Bank, Court, Trustee or Lien Holders affiliated with that particular piece. Please call 616-261-4988 for the Approvals on all items that sell subject and we will be happy to assist you." Note to the buyers of titled items: For Michigan residents, we are required by the State of Michigan to broker all vehicles sold. A $95.00 broker fee will be charged for all vehicles which we need to broker. In addition a $15.00 fee for title transfer will be charged. In addition, we can apply for your plates and registration if you so choose. If you wish to have us do so, you MUST provide us with proof of insurance for the purchased vehicle before you can remove it from the auction site. If not, you must be prepared to tow or trailer your vehicle. The appropriate fees will be added to your invoice. Non-Michigan Residents will pay the $95.00 Broker Fee and necessary fees according to their state rules for titled vehicles. Please note that buyers will need to sign the appropriate paperwork required by the state for title transfers. Title processing may take up to 15 business days. Then will take 4-10 business days to receive your title from the Secretary of State. Contact Us: For any Question/Comments/or Concerns please contact us at 616-538-0367 or 1-800-LASTBID. Duane, Chad, Hib, or Jen will be happy to assist you! Or you can email them at Jen@1800lastbid.com ,at Chad@1800lastbid.com, or at Hib@1800lastbid.com. Or for the Eastern Division call: 1-810-636-2241, Dave at 810-577-7553 or Jared at 616-890-7763 For Out of Country buyers, the State of Michigan requires we collect 6% sales tax and transfer the title as an “In-Transit” through the Michigan Secretary of State before the title is issued to the buyer. We need all out of country buyers to contact our title dept. to start the paperwork before the item can go across the border. We will need to obtain the appropriate documents and signatures to transfer the title, this could take 3 to 5 weeks. We recommend all vehicle purchases made with the intent of taking the vehicle out of the country contact the title dept. as soon as a winning bid is accepted. (800)527-8243 ext. 144 or (616) 261-4988 ext. 144, Terri, Shari, or Jesson will be happy to answer any questions.