AUCTION TERMS
•
$25 Annual Bidder Fee
•
Buyer's Fee AND a $95.00 Processing Fee are added to each purchase. Form of payment accepted: Cash (sale day only), Cashier's Check, Certified Funds, Visa, Master Card and Discover NO REFUNDS, NO RETURNS! Check your vehicle thoroughly before settlement!
•
Deposit — A $500.00 non-refundable cash deposit is required for each purchase once auctioneer declares vehicle sold. Failure to settle in allotted time will result in forfeiture of deposit.
•
Final payment must be received by 4 p.m. the next business day. If payment is not received by 4 p.m. the next business day, a $50.00 per day late fee and a $10 storage fee per vehicle per day will be accessed. MONEY ORDER OR CASHIER'S CHECK MADE OUT TO RICHMOND AUTO AUCTION, VISA, MASTERCARD, AND DISCOVER ONLY! (For your safety, cash is not accepted, except for sale day).
•
ALL VEHICLES SELLING RED LIGHT (AS IS) FOR $1,000 OR LESS (Excluding Buyers Fee) ARE SOLD WITH ANY AND ALL FAULTS-NO RETURNS!! ALL SALES ARE FINAL!
•
The registered bidders name must appear on any and all paperwork necessary to register and title vehicle purchased.
•
YOU are responsible to pay for all vehicles purchased.
•
Announcements from the auction stand take precedence and cannot be arbitrated. The auction is not responsible for errors or omissions in the handout.
•
YOU must examine the vehicles BEFORE purchase!
PUBLIC BUY FEES
A $95.00 Processing Fee will be added to the final
bid price in addition to the buyer fee noted below.
$0 - $199 $150 $9,000 - $9,999 $650
$200 - $499 $170 $10K - $10,999 $700
$500 - $999 $190 $11K - $11,999 $750
$1,000 - $1,499 $210 $12K - $12,999 $800
$1,500 - $1,999 $230 $13K - $13,999 $850
$2,000 - $2,999 $300 $14K - $14,999 $900
$3,000 - $3,999 $350 $15K - $15,999 $950
$4,000 - $4,999 $400 $16K - $16,999 $1,000
$5,000 - $5,999 $450 $17K - $17,999 $1,050
$6,000 - $6,999 $500 $18K - $18,999 $1,100
$7,000 - $7,999 $550 $19K - $20,000 $1,150
$8,000 - $8,999 $600 Over $20K additional 5% of
amount over $20,000
Examples:
1.
Purchase Bid Price = $2,000. Add Buyer’s Fee of $300 + $95 Processing Fee = $2,395 total buyer’s cost.
2.
Purchase Bid Price = $5,100. Add Buyer’s Fee of $450 + $95 Processing Fee = $5,645 total buyer’s cost.
3.
Purchase Bid Price = $23,000. Add Buyers Fee of $1,150 (see chart above) + $150 ($3,000 x 5%) + $95 Processing Fee = $24,395 total buyer’s cost.