Frequently Asked Questions
Q. Do you only sell at auctions or do you sell
A. Most of the equipment we sell is sold at auction. From time
to time, we do have equipment available for private sale. TOP
Q. Can anyone participate at your auction?
A. Our auctions are absolute, everything sells, and they are
open to the public, so anyone can attend, no dealer license needed.
Q. Can I purchase a piece of equipment before
A. All of the equipment sells the day of the auction and no
equipment is sold ahead of time. There are no bid-ins or reserves. Everything
sells “as is,” “where is”. If you are not able to make it to the auction, you
can set up an absentee bid or use on-line bidding. To set up an absentee bid
option, contact a Taylor & Martin sales representative at the sale site the week
of the sale (note that absentee bids are not accepted the day of the auction).
For information on on-line bidding please
contact us. TOP
Q. What does absolute auction mean?
A. Absolute auction, simply put, means that each piece of
equipment consigned to the auction will sell to the highest bidder on auction
day, absolutely. Taylor & Martin conducts only absolute auctions. We never
accept reserves, bid-ins, or buy-backs. That's why our loyal customers come back
time and time again. TOP
Q. What do I need to bring with me to the
auction in order to get a bidder number?
A. Anyone who wishes to bid on any piece of
equipment must register at the auction office before placing a bid. In order to
register and receive a bidder number, you must have a proper form of ID or you
must provide the following: Company Name, Buyer's Name, Street Address, City,
State, Zip Code, Telephone Number. In addition, a bidder must indicate how he or
she will pay for any purchases made. Full payment must be made for any purchases
on the day of the auction. Taylor & Martin accepts cash, personal checks,
company checks, money orders, cashier's checks, traveler's checks and bank wire
transfers. Due to increased enforcement of the Financial Privacy Act, banks have
adopted restrictive guidelines limiting our ability to verify your funds. If you
intend to pay by personal or company check, we require a Bank Letter of Guarantee
or equivalent at or before the time of registration. If you register without a
Letter of Guarantee or equivalent, your purchases will be subject to
verification and you may not be able to take immediate possession of your
purchase. If you will be paying with cash, you will be asked to leave a $1,000
deposit at the time of registration. You will be given a receipt and your
deposit will be immediately returned if you are not successful in buying any
Q. What forms of payment do you accept at your auctions?
A Letter of Guarantee to accompany your personal or
company check, your purchase is subject to verification and you may not be able
to take immediate possession of your purchase. If you will be paying with cash,
you will be asked to leave a $1,000 deposit at the time of registration. You
will be given a receipt and your deposit will be immediately returned if you are
not successful in buying any equipment. WIRE TRANSFERS: If you are paying for
your purchase with a wire transfer (especially if you are a first-time buyer),
then at the discretion of Taylor & Martin, a $10,000 deposit must be wire
transferred to us no later than 3:00 pm CST the day before the auction. Your
deposit will be applied to your purchase. If you are not the successful bidder,
your deposit will be refunded by our home office. For complete wiring
instructions and any questions, please call 402-941-1064 or
Q. What are the advantages of bringing a bank
Letter of Guarantee?
A. The bank Letter of Guarantee speeds up your registration at
the auction. You can also remove the purchased equipment the day of the auction.
We will also mail out your titles the following business day after the sale.
Q. Is there an additional charge added to my
A. A transaction fee of one percent (1.5%) of the total
purchase amount will be charged to all buyers. This nominal charge helps cover
administrative expenses. TOP
Q. Does Taylor & Martin charge a buyer’s
A. It is not Taylor & Martin's intent to charge a buyer's
premium, but in some auction circumstances a buyer's premium is required.
Bankruptcy auctions are a common example of this circumstance. If a buyer's
premium is to be collected, it will be noted in the pre-auction flyer, the
official auction catalog, and announced at the beginning of the auction.
Otherwise, a one percent (1.00%) transaction fee will be charged to the buyer
for all purchases. TOP
Q. How can I request an application for
A. For qualified applicants, we offer financing for auction
purchases (late model equipment only - 5 years old or newer). You will need to
process an application up to a week and a half prior to the sale. Call Preferred
Leasing, 402-721-8288, toll free 800-654-8280
or click here. TOP
Q. In what order does the auction proceed?
A. Generally, all Taylor & Martin auctions begin at 9:00 am in front of
Tractor Lot #1. The tractors are sold first followed by the miscellaneous
vehicles, which are followed by the trailers. The trailers generally begin with
refrigerated units, followed in order by van trailers, agriculture trailers,
flatbed trailers, dump body trailers, tank body trailers, and converter gear. At
some auctions, a second auction ring will open at 1:00 pm to sell the trailers,
while the first ring continues selling tractors. Check with Taylor & Martin
representatives at the auction for the order of sale for that day. It will also
be announced at the beginning of the auction. TOP
Q. Is the equipment I purchase guaranteed?
A. Taylor & Martin sells every piece of equipment "as is",
"where is" with no warranties expressed or implied. The buyer relies exclusively
on his/her pre-auction personal inspection of the equipment. In some cases,
equipment may still be covered by its original engine manufacturer’s warranty.
The buyer is solely responsible for contacting the engine manufacturer and
arranging for any warranty coverage. TOP
Q. When will I receive the title to the
equipment I purchase?
A. Unless otherwise noted, titles are mailed 10 banking days
following the conclusion of the auction. If you pay in cash, certified funds, or
your check is accompanied by a bank Letter of Guarantee, your titles will be
mailed within two banking days. For expedited titles (i.e. next day FedEx),
contact a Taylor & Martin representative at the auction office for arrangements.
A small fee may be charged for this expedited service. TOP
Q. After I purchase equipment at the auction,
how long do I have to move it from the lot?
A. It varies, depending on the location. In many cases, it is 7
days. At most locations Taylor & Martin personnel are on duty 24 hours a day
following the auction until the final removal date for your convenience. We can
also help you with equipment storage needs if you cannot make the removal
Q. Does Taylor & Martin provide the necessary
permits for me to drive my equipment away from the auction location?
A. Where local and state law allows, Taylor & Martin provides
"In Transit" stickers. Check with our representatives at the auction office.
Note that it is the buyer’s responsibility to secure insurance on their
newly-purchased equipment before removing it from the lot. TOP
Q. How can I receive information about your
A. If you don’t have regular access to the internet, Taylor &
Martin can mail brochures of upcoming auctions. If you or your friend has an
email address, pre-auction announcements and information about upcoming auctions
can be sent via email. (Note: If you wish to receive these materials via email,
they will not be sent to you via the postal service.) Please call us at
800-654-8280 with mailing information. TOP
For more questions or comments, click
here to contact Taylor & Martin, or call us at 800-654-8280