FAQ

Frequently Asked Questions

HMMWV

First, you need to register with GovPlanet. To register, click here and enter your email. You will then receive an email from IronPlanet with your temporary password. You will use this temporary password to log into your account, update your contact information, create a new password, and request bidding privileges. Once your contact information has been verified, you will be asked to put a credit card on file. This card will hold a $1 pending charge that grants you $150,000 purchase power. Your card will not be charged unless you default on a payment, or call Customer Service and grant them permission to use the card on file to complete purchase of a won item.

Any citizen of the United States, who has registered with GovPlanet and received bidding privileges, can bid on a Defense Article!

All GovPlanet items are individually evaluated by a certified inspector using IronPlanet’s patented inspection process. These detailed Inspection Reports are published online and made available for GovPlanet registered users to review prior to placing a bid. In addition, every item sold on GovPlanet comes with our IronClad Assurance providing you with the confidence that the inspection report is an accurate representation of the item. For customers that still prefer to view their items in person prior to an auction, GovPlanet does allow for onsite inspections. All onsite visits must be scheduled in advance with a GovPlanet representative. Some selling locations may have restrictions or unique requirements that you must comply with as part of the visit. Once an inspection appointment is approved, you will be personally escorted by a member of the GovPlanet inspection team while on site. If you would like to try and schedule personal inspection, please fill out ‘application for onsite preview’, and email this form to our Customer Service department at CustomerService@GovPlanet.com. One of our representatives will get back with you within 24 hours. Onsite visits will be kept to 30 min maximum; and you WILL NOT be able to test drive the vehicle.

An EUC (End User Certificate) is required for all surplus Military assets with demilitarization (DEMIL) code of Q or F; all HMMWVs, with the exception of Private Seller Consignments, are issued a DEMIL Q code. The EUC process typically takes 6-10 weeks from submission to be approved by Trade Security Controls (TSC). If you don’t have a history in dealing with entities/ countries whose interests are adverse to the United States, expect to be approved and the proud new owner of a HMMWV! EUCs are good for 36 months from their initial approval date. Subsequent submissions within this timeframe, provided no information (Residence, Company Name, etc) has changed typically results in approvals within 7-10 working days of submission to TSC. EUC forms can only be completed post-purchase. No storage fees will be charged during the EUC approval process. For more information, visit our EUC page.

The SF97 is a U.S. government-issued certificate that can be used to obtain a title for a vehicle. HMMWVs from the Defense Logistics Agency (DLA) will have “off-road use only” stamped onto the SF97, where units from other sellers will not. All SF97s will be assigned to IronPlanet, and then re-assigned to (you) the buyer, utilizing a standard dealer re-assignment letter. Please check with your appropriate titling agency in your state to ensure that this letter is acceptable. If your state has unique requirements in regards to titling Former Military Vehicles, please contact customer service so that we can work together in ensuring you have the adequate re-assignment paperwork for your state. SF97s will typically arrive via FedEx or USPS within 30 - 60 Business days of EUC approval. For more information, visit our SF97 page.

Not to start with. HMMWVs from the DLA cannot be taken on the road until you meet your state’s vehicle inspection requirements, and receive a state title and registration from your local DMV or State titling authority. However, some HMMWVs are sold on consignment, where the previous owner may already received proper titling and registration. Not all states will accept out of state titling documents on HMMWVs or other Former Military Vehicles. Please ensure that you contact your state titling/registration authority for your individual state’s requirements.

5 business days.

Auction winners will be charged a 10% transaction fee, any applicable state taxes; as well as either a $25 fee for a bill of sale, $50 for an SF97, or $150 for a Montana title. Florida Residents may incur additional tax/title/license fees. Please ensure that your profile information is updated to ensure that these additional fees are applied appropriately.

Once your EUC has been cleared, buyers will receive an email with their Item Release Form. This form contains the items exact location as well as who/ how to contact the person who is responsible for that location. Buyers then have 10 days to reach out to Pick-up Support and arrange a pick-up that fits both the POCs and location’s schedule.

How to Buy

Bidding from your computer is the quickest and most reliable method of bidding. You can also bid through the IronPlanet mobile app for additional convenience.

Depending on their needs, sellers can list their equipment in our weekly online or onsite auctions. Whether the auction is online or onsite, bids can be placed online so buyers from around the world can participate.Once payment is confirmed, our integrated transportation partner VeriTread will help buyers transport items from your location or the auction site.

Sorry, this is usually difficult to arrange due to the distribution of equipment at the time of sale. Our independent inspections provide detailed in-depth reports on the condition of the equipment. This is backed up by our IronClad Assurance which lets you bid with confidence, even without needing to see the equipment yourself.

Items in our Featured Auctions and onsite auctions do not have a reserve price.

Our Customer Care Agents and Sales Representatives are ready to help you. Just call 888-433-5426 and we'll do our best to answer your questions.

Retail sales of tangible personal property in most states are generally subject to sales tax. Construction equipment is generally considered tangible personal property. In some instances, retailers must collect use tax, rather than sales tax. A common example of a purchase subject to the use tax is a purchase of an item for use in California from an out-of-state retailer. The tax rate for sales and use taxes are generally the same. More info on Sales Tax More info on Sales Tax in California

If your account is registered in the United States or Canada, you are not required to send a deposit or provide credit card information to initially be approved to bid at a credit level of $150,000. Approval at a higher credit level will require the submission of bank information.

If your account is registered outside of the United States and Canada, please submit an International Bidders Qualification form along with a $2,000 USD deposit in order to participate in GovPlanet auctions.

Our Customer Care Agents and Sales Representatives are ready to help you. Just call 925-225-8799 and we'll do our best to answer your questions.

For questions on the different demilitarization codes, please visit the Defense Logistics Agency website.
Items marked with demilitarization codes F and Q will be required to receive Trade Security Clearance approval before the item is released for pickup. In order to receive approval, the buyer must complete all required information in the EUC form. Items requiring the EUC can only be purchased by a citizen of the United States and the GovPlanet account has been established within the United States. If the buyer was born outside of the United States, the buyer must submit a copy of their US Passport, US Naturalization Certificate, or US Green Card.

During the preview period, when Priority Bids are accepted, only the starting bid will be visible. The current high bid will be shown as soon as the live auction starts. If you have placed a Priority Bid before an auction, you will receive an email notifying you if you are the current high bidder and when you are outbid on an item.

Each item will have a designated auction date and start time. This information can be found on the listing page for a particular item. If you add an item to your Watch List, you will be notified by email when the item is up for sale. Keep in mind, multiple items may have the same auction date and start time. During the auction, bidders will be notified by email confirming they are the high bidder or if they have been outbid.

During the checkout process, you will be asked to declare any applicable sales tax exemptions you would like applied to your purchase. You will be required to send in a copy of your sales tax exemption certificate for verification by our Sales Tax department. Buyers should email their tax exemption certificates prior to purchasing an item. You may send your exemption certificate(s) to salestax@govplanet.com.

Every item won through a GovPlanet auction must be paid in full within three (3) business days. Items for which full payment has not been received within 3 business days will be subject to late payment charges.

After final payment and any required Trade Security Clearance approval is received, the Item Release form will be available either in the Buyer's GovPlanet account or sent to the selected transportation provider. The Item Release form will include the contact information for the GovPlanet department who will assist you in scheduling a pickup date and provide you with the exact pickup location.
For items being sold from a government site, you or your transportation service provider will be required to present personal identification, proper paperwork, and in some cases, proof of insurance before entering the site.

An Item Release form is provided to the buyer or the selected transportation provider after checkout is completed and full payment has been received. If the item requires Trade Security Clearance, approval must be given before the Item Release form becomes available. The Item Release form provides the buyer with the information needed to schedule pickup of the item.

Unless otherwise noted, you must pick up your item within eight (8) business days of the auction to avoid accruing storage fees. If your item requires an EUC, you must pick up your item within eight (8) days of receiving the Item Release. Any storage fees owed must be paid prior to picking up an item. Please contact GovPlanet Customer Service to pay the final storage fee balance before picking up your item.
Any item not picked up within 60 days will be considered abandoned. Once an item is declared abandoned, it will no longer be available for pickup. Please refer to the GovPlanet Terms and Conditions for more detail on our abandonment policy.

IronClad Assurance

Whenever possible, operational manuals are provided with the equipment. If an operational manual is available, it will be noted in the General Appearance section of the inspection report.

Depending on their needs, sellers can list their equipment in our weekly online or onsite auctions. Whether the auction is online or onsite, bids can be placed online so buyers from around the world can participate.Once payment is confirmed, our integrated transportation partner VeriTread will help buyers transport items from your location or the auction site.

IronClad Assurance means 'What You See is What You Get'. Once you receive the equipment, you have one business day to report to GovPlanet any significant discrepancies between the condition of the equipment when you received it, and the condition described in the Inspection Report. If the discrepancy is validated through our dispute resolution process, we will refund you for the purchase price plus any transportation costs, or the equipment may be repaired at no cost to you.

Yes. If a buyer self-transports equipment from a seller premises in any way other than common carrier, equipment acceptance occurs as soon as you remove the equipment from the seller's premise. If when you arrive for self-transport and the vehicle or equipment is not in the same condition as it appeared in the inspection report, do not remove the equipment prior to calling GovPlanet's Customer Service.

How LiveStream Works

a. No, but you can! IronPlanet LiveStream feature a combination of online and on-site buying opportunities.
b. You can bid online or on-site where the auction is being hosted.
c. IronPlanet LiveStream is used by auctions all around the country, giving buyers the opportunity to test drive the equipment or inspect it on their own.
d. To bid on-site, visit the registration table on the auction site and get a bidder number for that sale.ere

a. Only registered and approved viewers have the ability to bid online. (See IronPlanet Registration Requirements)
b. Access the auction on auction day by following the banners on www.ironplanet.com and log in to be taken to the bidding console.
c. If you’ve been approved to bid, simply click the bid button to place your bid. The amount showing on the button will immediately be submitted as a binding bid to the auctioneer via the on-site clerk.
d. The clerk will represent the first received online bid to the auctioneer.

a. When you are the leading bidder, a message will indicate that you are in the lead and the bid button will be de-activated to prevent bidding against yourself.
b. This is also the case if you have placed a pre-bid. The bid button will disable in the bidding console if your pre-bid is in the lead.
c. Conversely, if you are not the leading bidder, a message will indicate you are out. The bid button will be active with the current ask.
d. When you win a lot, you will see a confirmation screen indicating the lot description and the hammer price.

a. Yes. Click the “lock” button in the upper right corner of the bidding interface and your bid button will be deactivated.
b. In order to bid live, simply click the lock again to enable the bid button.

a. The most common reason why a bid is not received is because the auctioneer accepted another bid – either a pre-bid, an online bid that was placed first, or an on-site bid.
b. The second most common reason is when a bid is placed after the auctioneer calls “Sold”. Once the auctioneer says sold, the item is closed.

a. Yes. PriorityBids are placed on the item page during the preview period until the item is placed up for sale.
b. PriorityBids allow your bid to be placed before any other ONLINE bid.
c. The auctioneer determines both the bidding increment and which bids are accepted.

Yes. Simply place a new bid and specify your new maximum amount. You may increase your maximum bid amount at any point during the auction, whether or not you are the lead bidder.

No. All bids in placed in any IronPlanet or IronPlanet marketplace auction are final and binding. You can always increase, but can never reduce or rescind, your maximum bid amount.

a. No. Unlike during an IronPlanet featured auction, the auctioneer sets the increments during live auction. There is no set increment and it changes based on the auctioneer, the pace of the auction, the estimated value of the item, and other factors.
b. However, it is best to bid at round dollar amounts in order to improve the chances of your pre-bid being accepted.
c. Example: As a general rule, the auctioneer will not take a bids at less than $2,500 increments when the bidding reaches $100,000. Therefore a pre-bid of $101,000 will not be accepted.
d. Example: An $11,000 bid is more likely to be accepted than a $10,500 bid, unless the auctioneer cuts the bid increment at that time.
e. The best rule of thumb is to place a pre-bid for the maximum of what you would bid if you were physically at the auction and in round numbers. The auctioneer will only place a bid on your behalf at the then current increment.

Yes. Just place a pre-bid on any item up for preview and when the auction opens, our system will automatically submit your bid for you during the auction.

a. As is the case in Featured Auctions, the PriorityBid placed earlier takes precedence. The second bidder will need to bid higher in order to have the highest PriorityBid. The highest PriorityBid is placed as the leading online bid and is presented to the auctioneer ahead of other online bids.
b. During Live auctions, an online and onsite bid may be placed at the same time. It is the responsibility of the Auctioneer to determine which bid to accept based on their best judgement.

Checkout

The Checkout process creates an easier more stream-lined auction experience for our buyers. This process will automatically modify your Invoice for your tax exemption status and adjust sales tax for an out-of-state or foreign delivery destination by common carrier.

Yes, you can.

There are two important pieces of information that you will need to complete your Checkout process successfully:

  •  Your sales tax exemption certificate, if you believe you are exempt from sales tax.
  •  Buyers exporting equipment will also be asked to declare their US port of export.

If your resale certificate is already on file for your equipment destination state, your resale exemption number will pop-up automatically during Checkout. If your resale certificate is not on file, you will need to provide a copy of your resale certificate using the bar-coded fax form provided for your convenience. You can print this fax form during Checkout and from the Post Sale page. More information can be found here.

If you have your tax exemption status before you start Checkout, the process should take you less than five (5) minutes.

You will be able to access your Invoice immediately after you have completed Checkout.

Please call customer care at (888) 433-5426.

Yes, you can.

You will be able to make changes to your Checkout information up to three (3) business days after the auction. However, if you have completed Checkout and made full payment, you will not be able to modify the Checkout information yourself. You will need to speak with one of our customer care agents to make any modifications to your Checkout.

Call customer care at (888) 433-5426 and they will provide Checkout assistance for you.

During the Checkout process you will be asked if you want to receive transportation quotes for your purchase. You will receive an email from our transportation partner VeriTread notifying you when a carrier has provided a quote. You can access the quotes from your Post Sale page.

If you don't know your delivery destination immediately after the auction, you have up to three (3) business days to complete the Checkout process and make full payment. Equipment must be moved from the seller's yard eight (8) business days after the auction.

To be able to exempt your purchase from sales tax in the equipment pick-up location state, you must provide evidence that you have moved this equipment by common carrier to another state or exported it out of the U.S. More information can be found here.

In the U.S., each state has their individual sales tax regulations. The domestic Bill of Lading (using a common carrier) exempts your purchase from being taxed in the pick-up location state. This Bill of Lading proves that you did not take possession of or use the equipment in the pick-up location state prior to transporting it to your port of export. More information can be found here.

If you are unable to submit your Bill of Lading or a preliminary Bill of Lading showing that the item is destined to a port of export within 10 days, you will be required to pay sales tax. You will need to provide IronPlanet a domestic Bill of Lading showing the City / State equipment pick-up location and Export documents that include the U.S. port of export and the final delivery destination. IronPlanet will not process refund requests received beyond (10) ten-days after the sale. After the ten-day period, the buyer may request a sales tax refund directly from the State where taxes were paid. IronPlanet cannot apply for state sales tax refunds on behalf of buyers. Buyers must work directly with the relevant state. More information can be found here.

Purchasing over the Internet does not exempt you from the payment of sales/use tax. If you have equipment transported to another state for personal use or for use in your business, this equipment may be subject to state and local sales/use tax based on the laws of your delivery destination state.

When purchasing an item eligible for a titling document, you will have the option of requesting one through GovPlanet during the checkout process. GovPlanet will determine whether your state requires a state certificate of a SF97. You will also be given the option to decline issuance of a titling document.

Payment and Transfer

Unless otherwise noted, IronPlanet will send the title to you within 15 business days after the close of the auction. Your title/titling document will be forwarded via a delivery source that will allow you to track your package (Federal Express or some other service). Title inquiries should be sent to titledepartment@ironplanet.com.

You should locate the tracking number provided on the email you receive when your title is sent. This information can also be found on the "Post-Sale" page. Please query the appropriate delivery service as to the delivery status of your title. If this doesn’t resolve your issues, contact our title department for resolution (titledepartment@ironplanet.com). Your concern will be followed up by a member of the title team.

IronPlanet provides buyers with a transferable title but we do not provide registration services.

MSO documents are issued by the manufacturer of New Equipment to provide a record of ownership prior to vehicle registration. IronPlanet does not provide an MSO for Used Equipment.

IronPlanet will furnish a valid title from the vehicle's state. Because registration/title requirements differ greatly from state to state, you should contact your local motor vehicle agency for any special out-of state registration requirements. When possible, IronPlanet can assist the Buyer in obtaining other documents necessary for registration.

State requirements differ, so you should contact your motor vehicle agency for exact requirements in your state. At a minimum you should carry a copy of your paid invoice, insurance card and driver's license. Please be aware, some states do require that you obtain a temporary permit (tags) issued by your motor vehicle agency to transport vehicles on road prior to official title registration.

Yes. If a buyer self-transports equipment from a seller premises in any way other than common carrier, equipment acceptance occurs as soon as you remove the equipment from the seller's premise. If when you arrive for self-transport and the vehicle or equipment is not in the same condition as it appeared in the inspection report, do not remove the equipment prior to calling IronPlanet's Customer Care.

As indicated previously, it can take up to 15 business days after the close of the auction to deliver the title. In cases where the vehicle is being moved to a country outside of the US advance notice will need to be sent to the title department (titledepartment@ironplanet.com). This will ensure we can provide the necessary paperwork prior to arrangements being made to pick up the equipment for shipment. Failure to provide this notice may result in delays with the delivery of your title.

Buyers are responsible for all liability after driving or directly removing vehicles and trailers from Seller's premises.

The Buyer's name or the Company Name entered at time of registration is the only name IronPlanet can put on the title. When you complete the check out process, you will be asked to confirm which name you want on your title. You will also be asked to verify the mailing address. Contact Customer Care (888-433-5426) if there are any issues with the name (s) on your profile.

How it Works

Let's suppose that we're selling a backhoe loader which opens at $20,000 and has a bid increment of $500. The following gives an example of how the bidding for this auction might unfold.

  1. Bidder A starts the bidding by entering a maximum bid amount of $23,000. The GovPlanet auction system bids $20,000 on Bidder A's behalf, which is the minimum amount required to put Bidder A in the lead.
  2. Bidder B enters a maximum bid of $20,500 in an attempt to take the lead. However, since Bidder A has a higher maximum amount, our auction system responds with a bid of $21,000 to maintain Bidder A's lead.
  3. Bidder C then joins the bidding with a maximum bid of $28,000. Our auction system first tries to bid on behalf of Bidder A at his maximum amount of $23,000. But, since Bidder C's maximum amount is higher, the system cannot keep Bidder A in the lead. The auction system then places a bid on behalf of Bidder C for $23,500, which is the minimum amount required to make Bidder C the high bidder.
  4. Bidder A then attempts to reclaim the lead with a maximum bid of $25,000. But, since Bidder C's maximum amount is higher, our system responds to keep Bidder C in the lead with a bid of $25,500.
  5. No more bids are submitted to this auction, so Bidder C wins the auction at $25,500, even though his maximum bid amount was $28,000.

This is because the auction system automatically responds to bids by other users by confidentially placing bids on behalf of the lead bidder, up to his or her maximum amount. Whenever a valid bid is placed in an auction that already has at least one bid, the bid will rise to cover the maximum amount specified by the new bidder, or to put the new bidder in the lead.

The system automatically placed a bid in response to yours, because the current high bidder had specified a maximum bid amount greater than the amount you submitted.

Absolutely! Simply place a new bid and specify your new maximum amount. You may increase your maximum bid amount at any point during the auction, whether or not you are the lead bidder.

No, if you are already the high bidder in an auction and you increase your maximum bid amount, the bid will not immediately change. As always, your bid will only increase in response to bids by other users, in the smallest increment possible to maintain your position as high bidder (up to your new maximum bid amount).

No, all bids in GovPlanet auctions are final and binding. You can always increase, but can never decrease your maximum bid amount at a later time.

Yes. All bids must be in whole increments. The bid increment can vary between auctions, but is typically either $500 or $1,000. You can always bid more than one increment above the current highest bid, but your bid amount must be a whole bid increment.

 

For example: Let's say you're bidding on a grader being auctioned, where the current highest bid is $60,000 and the bid increment is $1,000. You can successfully place a bid for $61,000, $62,000, $63,000, etc., but our auction system will NOT accept a bid of $61,500, $62,001, or any other amount which is NOT a whole increment of $1,000.

 

In the case where two maximum bids are equal, the earlier bid takes precedence.

For example: Let's say you're bidding on a wheel loader, and you set a maximum bid amount of $60,000 and take the lead with a current highest bid of $57,000. If another bidder later enters $60,000 as his maximum bid amount, the auction system will bid on your behalf and keep you in the lead at $60,000.

Yes. You can place a PriorityBid SM (see below) on any item up for preview.

PriorityBidSM is our system for placing bids during the preview period of an auction. A significant amount of all bidding in our auctions occurs with PriorityBids; more than 70% of items typically have bids on them before auction day. Because they are placed during preview, PriorityBids have a delayed effect on the price of an item: the price does not change until the auction opens. There are several advantages of using PriorityBids:

You do not have to be at your computer on auction day. When you place a PriorityBid, you specify the maximum you are willing to pay for an item. You will be told immediately if yours is the highest bid placed so far, but you will not know how much of your bid amount remains to protect you from later bidders. Your bid amount is confidential and our auction software will keep you in the lead against competitive bids through the preview and on auction day or until your maximum amount is exceeded. If you get outbid by another PriorityBid, an automatic email will immediately be sent to you.

 

You can win the item for less than your maximum amount. In our style of auctions, the price the winner pays is determined by the price the runner-up was willing to pay. The final price is never more than one bid increment greater than the next-highest bid. So, if you have little competition, you can win an item for less than your maximum amount. We recommend you determine your "no regrets" price—the price at which, if someone else were to win, you would not regret the outcome—and then bid one increment below that.

 

 

Bidding early helps ensure that you are the winner. When competing PriorityBids are placed for the same amount, the earliest bid takes precedence (it has Priority at that price), so submitting your bid early gives you an advantage. You can place a PriorityBid online any time day or night, or by fax during our Customer Care hours.

 

Freedom to keep an eye out for other bargains. PriorityBids give you the freedom to browse and track other items on auction day without worrying about your "must-have" items. Our system acts as your assistant, constantly monitoring your PriorityBids and keeping you in the lead until the price goes beyond your designated maximum bid amount.

As auction day approaches, you can check the status of your PriorityBids in the Buying List of My Account. Make sure your email address and notification settings are correct in My Account Profile so that you can receive outbid notification emails. Before even being outbid, you can increase the maximum on any of your PriorityBids by placing a new PriorityBid on the same item for your new maximum amount (don't worry, you can not outbid yourself). Like all bids, PriorityBids are binding and can not be retracted nor reduced.

Any successful bid placed within the last two minutes of an auction will extend the auction by two minutes. An auction can be extended multiple times, until there have been two minutes without bidding activity. The only exception to this rule occurs when the high bidder in an auction increases his maximum bid amount in the final two minutes of an auction. Should this occur, the bid amount will not change and the auction will not be extended until another bidder places a successful bid.

As soon as you confirm your bid, a bid status message will tell you whether you have the highest bid in the auction. If you've placed your bid on auction day, we suggest returning to the main auction page if you wish to monitor the progress of an auction. On the main auction page (and on the equipment overview page or the bidding page), you will see a flashing exclamation point and a note reading "Highest bid is yours" next to any item for which you are the lead bidder. While the auction is still in preview, you can check the status of your PriorityBids in the Buying List of My Account.

Remember that in response to other bids, GovPlanet's auction system will automatically increase your bid in the smallest increment possible (up to your maximum amount) to maintain your position as high bidder. At the end of the auction, the high bidder pays only the lowest possible winning bid; you could win an auction at a price less than your maximum bid amount.

No. All bids and offers must be made in U.S. Dollars. All $ amounts are listed in U.S. Dollars.

A Reserve Price is a hidden minimum price that the seller is willing to accept for an item. In a Reserve Price auction, the seller is only obligated to sell the item once the bid amount meets or exceeds the Reserve Price. A seller can lower, but cannot raise, the Reserve Price.

All Reserve Price auctions are clearly noted with a message next to the current or opening price. This message will either say "Reserve not met" or "Reserve met". As in all GovPlanet auctions, all bids are binding, but an item will only sell to the highest bidder if the Reserve Price has been met. If the Reserve Price is not met, a seller will have the option of extending a Second Chance Offer to the highest bidder, which gives the highest bidder an option to purchase the unit at a price equal to his or her maximum bid amount.

When bidding in a Reserve Price auction, you should bid as you would in any GovPlanet auction, by entering the maximum amount you're willing to pay for an item. Our auction system will automatically bid on your behalf in the smallest increment possible to keep you in the lead, up to your maximum amount. The only exception is that if your maximum bid is the first to meet or exceed the Reserve Price, our auction system will initially enter your bid in the smallest increment possible so that your bid meets the Reserve Price.

If an Owner Auction closes and the reserve price is NOT met, a seller has the option of making the unit available for sale to the highest bidder at a price equal to that bidder's maximum bid amount. If this Second Chance Offer is made by the seller, the high bidder has 2 business days to decide whether to accept the offer.

After the close of each auction, a Bid history link appears on the equipment details page for that item.

PriorityBid

 

PriorityBidSM is our system for placing bids during the preview period of an auction. A significant amount of all bidding in our auctions occurs with PriorityBids; more than 70% of items typically have bids on them before auction day. Because they are placed during preview, PriorityBids have a delayed effect on the price of an item: the price does not change until the auction opens. There are several advantages of using PriorityBids:

  • You do not have to be at your computer on auction day. When you place a PriorityBid, you specify the maximum you are willing to pay for an item. You will be told immediately if yours is the highest bid placed so far, but you will not know how much of your bid amount remains to protect you from later bidders. Your bid amount is confidential and our auction software will keep you in the lead against competitive bids through the preview and on auction day or until your maximum amount is exceeded. If you get outbid by another PriorityBid, an automatic email will immediately be sent to you.
  • You can win the item for less than your maximum amount. In our style of auctions, the price the winner pays is determined by the price the runner-up was willing to pay. The final price is never more than one bid increment greater than the next-highest bid. So, if you have little competition, you can win an item for less than your maximum amount. We recommend you determine your "no regrets" price—the price at which, if someone else were to win, you would not regret the outcome—and then bid one increment below that.
  • Bidding early helps ensure that you are the winner. When competing PriorityBids are placed for the same amount, the earliest bid takes precedence (it has Priority at that price), so submitting your bid early gives you an advantage. You can place a PriorityBid online any time day or night, or by fax during our Customer Care hours.
  • Freedom to keep an eye out for other bargains. PriorityBids give you the freedom to browse and track other items on auction day without worrying about your "must-have" items. Our system acts as your assistant, constantly monitoring your PriorityBids and keeping you in the lead until the price goes beyond your designated maximum bid amount.

As auction day approaches, you can check the status of your PriorityBids in the Buying List of My Account. Make sure your email address and notification settings are correct in My Account Profile so that you can receive outbid notification emails. Before even being outbid, you can increase the maximum on any of your PriorityBids by placing a new PriorityBid on the same item for your new maximum amount (don't worry, you can not outbid yourself). Like all bids, PriorityBids are binding and can not be retracted nor reduced.

Click here toPlace a PriorityBid in the current auction

 

Sales & Use Tax

Retail sales of tangible personal property in most states are generally subject to sales tax. Construction equipment is generally considered tangible personal property. In some instances, retailers must collect use tax, rather than sales tax. A common example of a purchase subject to the use tax is a purchase of an item for use in California from an out-of-state retailer. The tax rate for sales and use taxes are generally the same.

No, sales tax rates and regulations vary greatly from state to state.

No, there are five states that do not have sales/use tax regulations; these are Alaska, New Hampshire, Montana, Oregon and Delaware.

Unless you are a Licensed Vehicle Dealer in the United States, we are collecting sales tax for the state of Florida. However, if you are exporting your vehicle outside the United States, we will refund the Florida sales tax after you send us the corresponding export documents.

**NOTE – You will be charged taxes (VAT) for items located in Mexico and titled vehicles located in Florida. Once proper documentation is provided IronPlanet will issue a refund.

You may be exempt from sales tax if you meet all the following criteria:

  • You are a reseller of like-kind equipment as the equipment you just bought; and
  • You have a valid Seller Permit (or its equivalent) from your state; and
  • You have completed the Exemption or Resale Certificate for your state and submitted it to IronPlanet; and
  • You have submitted a Bill of Lading from a common carrier for shipment of your purchase.

 

If you purchase tangible personal property but intend to resale it yourself, the transaction is not subject to sales or use tax provided the sale is properly documented. As a result, IronPlanet will ask you to provide a Resale Certificate as proof that the property is being purchased for resale.

Resale Certificates apply to a specific item being purchased. The certificate may be in any form, such as a note, letter, or memorandum (for California-related transactions, we have an online Resale Certificate for your use). A new Resale Certificate is required for each purchase. The certificate must contain the following information:

  • The name and address of the purchaser.
  • The number of the Reseller's Permit held by the purchaser (see Note below).
  • A description (including serial number or VIN) of the specific property being purchased.
  • A statement that the described property is being purchased for resale.
    • The certificate must contain words that state the property will be resold or is for resale. The use of words such as "nontaxable" or "exempt" or similar terms is not acceptable.
  • Signature of the purchaser or someone approved to act on his or her behalf.
  • Date certificate was signed.

 

While most states require a Resale Certificate, not all states require a Seller's Permit. If you are a purchaser who is not required to hold a Seller's Permit but wish to make a purchase using a Resale Certificate, you must indicate on the Resale Certificate that you do not hold a Seller's Permit and why a permit is not required.

Some states, such as California, require a Seller's Permit; buyers from such states must always supply a Seller's Permit number on their Resale Certificates.

You should not use a Resale Certificate if there is any question whether you will resell the property. There may be times when you are not sure whether the items you are purchasing are for resale or for personal use. In such cases, you should pay sales tax to IronPlanet. If, at a later date, you resell the item before making use of it, you can take a deduction on the tax return on which you report the sale.

For those states that require Resale Certificates, to support an exemption from the application of sales tax on purchases of tangible personal property, you can usually download forms from the website that supports your particular state's Department of Taxation or Bureau of Equalization.

Some states, such as California, require that an out-of-state buyer provide a Bill of Lading showing that the property was transported out-of-state by common carrier prior to its use.

You may be liable for sales tax--even if your purchase is for resale--if you self-transport your purchase across state lines rather than use a common carrier. This is the case for all equipment located in California, as one example. Unless a Bill of Lading is provided to show that a Common Carrier transported your purchase out of the state from which it was purchased, you are required to pay sales tax in that state, regardless of your resale intentions.

Yes. It is considered a misdemeanor in many states to issue a Resale Certificate to evade payment of tax. Typically, each offense is punishable by a fine or imprisonment for up to one year in county jail, or both. If you give a Resale Certificate to purchase property that you know at the time will not be resold in the regular course of business, you can expect:

  • Liability for the amount of tax due had the certificate not been used; and
  • Liability for Interest payments on the tax due; and
  • Penalties imposed by your state for intent to fraud or intent to evade tax; and
  • Possible cancellation of your Seller's Permit.

 

Sales & Use Tax in California

California resellers can submit to IronPlanet a completed California Resale Certificate, with their Seller's Permit Number. Each item purchased requires its own Resale Certificate, which is available on our website upon the completion of the auction for an item. Each certificate will include instructions to print, sign and where to fax it to us.

No. Only California retailers who have registered with the State of California and obtained a Seller's Permit can use the California Resale Certificate.

You will find the required form(s) at the California State Board of Equalization website. Complete the documentation that applies to your situation and fax it to IronPlanet at 925-225-8620 immediately after notification of being the successful winner of equipment on which you have bid.

Yes. If you purchase construction equipment that is located in California, your purchase is taxable.

Since you are not a California reseller, IronPlanet initially will have to charge sales tax on your purchase. After you submit either a Bill of Lading or export documents that clearly substantiate that your purchased equipment has reached a destination outside of California, your sales tax deposit will be 100% refunded. Fax your Bill of Lading or export documents with the six-digit IronPlanet Item number to our dedicated fax number 925-225-8620.

Initially, yes, but only as a temporary deposit until the equipment leaves the state. At the time of purchase, you will have to deposit 100% of the applicable California sales tax to IronPlanet. If you use a common carrier to transport the equipment out of California you can will get a full refund of your sales tax deposit after submitting a completed Bill of Lading showing the equipment pickup location and destination.

Wire transfer refunds will be processed within 24 hours (one business day) after IronPlanet receives the Bill of Lading, Resale Certificate, and your wire transfer instructions. Refunds requested paid by company check can take up to 5 business days prior to mailing.

Fax your Bill of Lading with the six-digit IronPlanet Item number on it to our dedicated fax number 925-225-8620.

California does not accept out-of-state Seller's Permit or Resale Certificates as valid documentation of a nontaxable transaction. Only by providing IronPlanet a Bill of Lading showing the equipment moved to a destination outside California can your purchase of equipment located in California be considered nontaxable.

Initially, yes, but only as a temporary deposit. At the time of purchase, you will have to deposit 100% of the sales tax for the other state with IronPlanet. To avoid owing that tax and to get your deposit refunded, you must use a common carrier and move the purchased equipment to a destination within California. Provide IronPlanet both a California Resale Certificate for the purchase and a Bill of Lading from the common carrier and your sales tax will be refunded.

Tax Free Exchanges

The term "Tax Free exchange" is a reference to Internal Revenue Code Section 1031. This section of the law allows taxpayers to trade one piece of property for another without paying federal income taxes on the transaction provided certain qualifications (discussed below) are met. To put it another way, a taxpayer selling an old piece of property is able to defer the federal income taxes that they would have paid on the sale of that old property into the purchase of new property if they follow the rules of the code section.

The advantage of using a Tax Free exchange is the deferral of the tax. This allows a taxpayer to have more cash available to invest in the replacement property. For example, if the taxpayer is selling a piece of equipment that has a $20,000 gain and is in a 30% federal tax bracket, the taxpayer has approximately $4,500 ($20,000 @ 30% less fees related to the exchange) more cash to invest in the replacement property since the taxes are deferred until the replacement property is sold. In terms of state tax, some states have full conformity with federal income tax law while other states do not. You will need to look at the specific state you are concerned with to answer that question.

The Code does have specific time sensitive deadlines that MUST be respected as well as specific restrictions on how the sales proceeds must be handled. That is why you need a Qualified Intermediary to assist with the transaction. A sale and a reinvestment in replacement property can be converted into a Tax Free exchange by means of an exchange agreement and the services of a Qualified Intermediary.

IronPlanet will work with any qualified intermediary to help our customers benefit from a Tax Free Exchange. If you need a recommendation for an intermediary, contact IronPlanet Customer Care at 888-433-5426

A "Qualified Intermediary" conducts the Tax Free exchange. Internal Revenue Code regulations contain a very specific definition of a Qualified Intermediary. The Qualified Intermediary is bonded and holds money from the sale of an asset in a bank trust account on the behalf of the client until the client has found replacement property within the set time limits. The Qualified Intermediary will then complete the transaction for the client and will use the funds in the trust account to pay for the replacement property.

In most cases, yes. This would be a "reverse exchange". As long as the requirements of Internal Revenue Code Section 1031 are satisfied, especially with regards to timing and money flow, 1031 Exchanges can be either a forward exchange (sell then buy) or a reverse exchange (buy then sell).

There is a time limit in within which the sale and purchase must be completed for the transaction to qualify for a Tax Free exchange. It is important to start the process right away to take advantage of the timing issues and to be fully eligible under Code 1031.

A Qualified Intermediary will charge a service fee dependent upon the complexity of the transaction. The complexity is determined by several factors including the number of pieces of property involved, the size of the transaction and the level of assurance you require.