Buyer Information 

Revised 8/6/2013  (Changes in Bold) 

ALSCOAutoAuction.com provides dealers with an alternative method of buying inventory. We provide you the opportunity to purchase repossessed and off-lease vehicles and equipment in their "as is" condition. This allows you to decide the amount of reconditioning, if any, that should be done prior to resale.

When an item is listed on ALSCOAutoAuction.com, a disclosure is provided prior to bidding outlining the terms and conditions that must be met in order to participate in the bidding process. A small flat fee is charged to the buyer for each unit purchased.

Each item purchased must be paid for with certified funds, cashiers check, or money order within three business days of the notice of a winning bid. Funds may be sent by overnight delivery to ALSCOAutoAuction.com, Attn: Accounting, 312 E. 2nd Street, Odessa, Texas 79761.

If you are a potential buyer for automobiles, boats, heavy equipment, atv/ motorcycles, recreational vehicles, or other items, you are able to access, by category and location, any of the items listed on ALSCOAutoAuction.com by simply going to our map, clicking on the state in which you have an interest, and then selecting your specific area or any number of areas of interest.

If you would like to place a bid on items listed on ALSCOAutoAuction.com, please click on registration and fill out the Buyer’s Form. Upon completion and submission of the Buyer’s Form, a representative of ALSCOAutoAuction.com will contact you regarding our verification of the information that you provided on your registration form.

Proxy Bidding: ALSCO Auto Auction offers an automated bidding option.  When you choose the proxy authorization option, you are requesting the ALSCO Auto Auction system to act on your behalf and to automatically place a bid on the item in which you are interested.

The process is easy.  On the Buyer’s Page, the first box that you will see is “Your Bid.”  Type a bid that is at least $100 more than the current high bid on the item.  DO NOT CLICK ON THE SUBMIT BOX.  Scroll down to the “PROXY BID AMOUNT” box.  Type the highest amount that you are willing to pay into the proxy authorization box.  Then click the “CONFIRM PROXY BID AMOUNT,” and the system will automatically monitor the bidding process.

If someone places a bid on the item that exceeds your existing bid, (1) you will be automatically notified by e-mail that your bid has been exceeded, and (2) the system will automatically increase your bid by a minimum increment, which is $100.00, unless otherwise specified.  This process will continue on the item until your bid is recognized as the highest bid to meet or exceed the seller’s “reserve” or until your proxy amount limit has been matched or exceeded by another bidder.

If your proxy authorization amount is exceeded by another bidder, you will be notified automatically by e-mail and given the option of increasing your bid manually or authorizing an increased proxy amount.  This process will continue until bidding has ceased for 15 consecutive minutes.

In the event another bidder submits a manual bid equal to the maximum amount authorized by your proxy, the amount of the manual bid will supercede all proxy authorizations of like amounts.

The system bids on your behalf ONLY AS NECESSARY to maintain your position as the highest bidder up to your specified maximum amount.

Example: One Proxy Authorization and Multiple Manual Bids

The current high bid is $200.00.  You submit a bid amount of $300 and a proxy authorization amount of $1,000.00.  The moment you confirm your proxy authorization of $1,000.00, the system submits your $300 bid, automatically identifies the current high bid, and confirms whether there are other proxy authorizations that must be submitted.  If there are no other proxy authorizations, the $300 you bid will remain the high bid until another bidder enters a higher amount.  As the bidding process continues, another bidder submits a manual bid for $800.00.  The system automatically identifies the bid and submits a bid on your behalf for $900.00.  At this point, you are the high bidder at $900.00. 

The system will not arbitrarily bid any amount on your behalf unless triggered by another actual bid.  Therefore, unless another bid is submitted in the proper $100.00 increment, the system is not authorized to bid on your behalf beyond the amount needed and authorized to maintain your highest bidder status.

A manual bid is submitted for $1,000.00.  The system identifies the bid of $1,000.00 and looks for all proxy authorizations to bid.  Your proxy authorization allowed the system to bid on your behalf up to $1,000.00.  The system cannot bid an amount over your authorized limit.  The manual bid of $1,000.00 prompted the system to bid on your behalf; however, because you authorized the system only to bid up to $1,000.00, the actual bid of $1000.00 was placed by a manual bidder so the system could not bid $1,100.00 on your behalf.

At this point, you will be automatically notified via e-mail that your bid has been exceeded and given the option of increasing your bid manually or authorizing an increased proxy amount.

Buyer’s Storage: Beginning on the eighth (8th) day after the day an item is authorized for release to the Buyer, storage charges to the Buyer will begin to accrue at the rate normally charged by the business where the item is located. Generally, these storage locations charge auction Buyers a minimum of $5.00 per day for an auto-sized item and a higher rate for larger items; however, the business where the item is located makes the final determination on the rate of storage to charge. The Buyer must pay any storage charges directly to the business where the item is stored in order to remove the item.

After payment by the Buyer is received, and ALSCOAutoAuction.com personnel have confirmed that the Buyer has accepted the item, or that the inspection period has lapsed without rejection, title and/or ownership documentation will be forwarded to the Buyer.  It is the Buyer’s responsibility to obtain new ownership documentation showing the Buyer as owner.

By virtue of bidding on items on ALSCOAutoAuction.com, each Buyer acknowledges and agrees with these terms and conditions. IF YOU DO NOT AGREE TO THESE TERMS AND CONDITIONS, PLEASE DO NOT USE THIS VENUE. 

Obligation to Inspect: Each listing on ALSCOAutoAuction.com shows the location of the listed item along with photos and a general condition report. In no way is the condition report intended to be a complete representation of the mechanical or other condition of the vehicle. Condition reports are not prepared by mechanics. Before and during an active auction sale, Bidders may inspect the item to make a determination of whether to place a bid. Any research a bidder desires to conduct about the history of an item should be done prior to bidding.

When a Bidder is notified that it has won the bid and is the Buyer of any item, the Buyer is obligated to send proceeds in payment of the winning bid amount plus the buyer’s fee within three business days of the date of the notice. Once both the sale proceeds and the original titlework is received by ALSCOAutoAuction.com, an authorization for release of the item to the buyer will be sent to the buyer and the storage location. The Buyer then has five business days to inspect and accept or reject the item. Failure of the Buyer to inspect the item within this inspection period signifies Buyer’s acceptance of the item and the sale must be completed.
 

When the Buyer exercises the obligation to inspect within the inspection period, the Buyer may reject any item that is substantially different from the photos, condition report and description listed on ALSCOAutoAuction.com. Any item not addressed in the listing may not be materially misrepresented (substantially different). Historical research (such as CAR-FAX reports) may not be basis for rejection since no warranty is included in the sale. If the Buyer rejects any item, an auction form indicating the reasons for rejection must be completed and immediately submitted to ALSCOAutoAuction.com. 

 

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