FAQ's : Trailer Auction : Truck Auction : Taylor & Martin, Inc.

Frequently Asked Questions


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Q. Do you only sell at auctions or do you sell privately?
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. TOP

Q. Can I purchase a piece of equipment before the auction?
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, cashier's checks and bank wire transfers. 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 will be paying with cash, you will be asked to leave a $5,000 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. TOP

Q. What forms of payment do you accept at your auctions?
A. Letter of Guarantee or equivalent 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 $5,000 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 402-941-1031 or 402-941-1011. TOP

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. TOP

Q. Is there an additional charge added to my purchase price?
A. A transaction fee of two percent (2.0%) 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 premium?
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 two percent (2.0%) transaction fee will be charged to the buyer for all purchases. 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 some of our locations Taylor & Martin personnel are on duty 24 hours a day following the auction until the final removal date for your convenience - best practice is to call ahead to confirm hours. The contact number can be found in the full list of auctions section or in the upcoming or recent auctions listings. We can also help you with equipment storage needs if you cannot make the removal deadline. TOP

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 auctions?
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

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