You can place a proxy bid at any of our auctions. J.M. Wood will never open the bidding with your maximum bid, nor will we disclose it to anyone but the auctioneer. We treat your bid, as if you are standing there bidding in person. You must register at least 48 hours prior to the auction. You will need to provide identification, a bank letter guaranteeing payment to J.M. Wood Auction, and a minimum 10% deposit.
2.5% buyers premium on all purchases over $2500 with a cap of $750 per lot will be charged to all purchases. Also, a 10% buyers premium on all purchases $2500 and under will be charged to all purchases.
Once you have purchased at the auction you will be invoiced. When payment has been made, your items will be ready to ship. J.M. Wood can assist you in arranging transportation and exporting the items if needed.
COST OF BIDDING
As a buyer on J.M. Wood Auction Company, Inc., you don’t pay anything to browse and bid. You will pay the auction house directly in the specified auction currency when you win a lot in an auction. The Auction House will contact you notifying you of what you have won and how much you owe. The total amount that you need to send to the Auction House will be composed of the following where applicable:
- 1. The amount of your winning bid
- 2. The applicable buyer’s premium
- 3. Any shipping and handling fees
- 4. Sales taxes.
A buyer’s premium is an amount paid by the buyer to the auction house for every purchase in a live auction. This premium is a percentage of the final price of a lot. For example, JM Wood Auction Co charges a buyer’s premium of 10% for amounts below $2,500 you will have to pay an additional $50 when you purchase a lot for $500. Also any Travel Trailer purchased will be charged a buyer’s premium of 10% regardless of selling price. To find out about buyer’s premiums and other charges, please read the terms and conditions of sale outlined in the auction overview page of each individual auction carefully.