Terms of payment will vary from sale to sale, payment must be made in U.S. funds and is due upon receipt of the invoice. All bidders should review and follow the payment terms provided on the auction detail page of this website. Payment must include any sales tax applicable to the sale unless a documented exemption applies and buyer has provided such documentation to Machinery Network Auctions prior to the Auction. Please note that personal checks are not accepted as payment. Acceptable types of payments are as follows:
The buyer’s premium typically goes directly to the auctioneer and not to the seller. The buyer’s premium is charged based on the final (hammer) price bid on each LOT and must be paid, along with the winning bid price, by the buyer/winning bidder. It is industry standard that all winning bidders be charged a buyer’s premium on lots purchased at auction and it may not be waived. The exact amount of the buyer's premium (as a percentage of the hammer price) is always specifically stated on the auction “Terms and Conditions” page of this website.
Machinery Network Auctions’ industry standard buyer's premium is 18%