For Buyers

Buying at Mayco Auctions is simple and convenient – Especially if you follow these steps below.

Financing
Having financing in place not only allows you to know your budget but also allows you to take possession of the equipment the day of sale. No item leaves the auction site until paid in full. Plus you will need a bank letter guaranteeing funds to register if paying with check.

Show up Early
Every thing sells “As Is, Where Is”. We encourage all buyers and their representatives to test, inspect and compare items on-site. Showing up at least 1 hour early allows you to register & inspect the vehicle and/or items up for auction that day.

Why Buy at Mayco Auctions

Besides being fun and exciting, you will be confident that you did not over pay. With traditional sales, the seller sets the price; however with an auction, the buyers, or market, determines the price. So, if you are the successful bidder, you will know that your purchase price is fair market value.

Register to bid
Registering to bid is free. You will need valid drivers license, passport or government ID. If you are planning on paying with company or personal check you will need a bank letter of credit address to Mayco Auctions, LLC guaranteeing the specific amount you plan to purchase. If not accompanied with a bank letter and not personally known by auction company we will run your check through our check reader with a 2% convenience fee applied to total.  

Auto Auctions –  first time registered bidders will be required to place a $300 deposit to participate in the auction. If a vehicle is won the deposit will go towards the purchase price of the vehicle. If no vehicle is won the deposit will be refunded. Very simple !  

  • Now that you are registered you are ready to participated in the auction.
  • Please keep guard of your registered bidder number until end of sale.
  • You may bid directly to the auctioneer or one of the Ringman there to help
  • Don’t be shy. Make your bid noticeable by making direct eye contact with the bid catcher or showing your bidder number high enough to see.

Administrative fees for buyers
Successful winning bidders will be required to pay an administrative fee on each lot purchased.

  • Equipment auctions will have a 1% per item administrative fee added to final bid .
  • Auto Auctions
    • $1000 & under = $100 
    • Over $1000 – $4999 = $125
    • $5000 – $7499 = $150                                             
    • $7500 – $9,999 = $175
    • $10,000 & up = $200 

 

Payment and removal
Purchases must be paid in full by end of auction unless worked out with the auctioneer in advance. Buyers cannot remove their purchases from the auction site until their invoice is paid in full. All purchases must be removed within 7 days of the sale.

  • Removal hours are between 8:00 am – 5:00 pm Monday – Friday

Read the terms and conditions of bidding
These steps are provided general information only. When you register to bid you must agree to the full terms and conditions before being able to bid.

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Mayco Auctions 105 Law Rd Jackson TN 38305 TN

TN Auction Firm #6090

TN Public Auto Auction Firm #30

TN Motor Vehicle Dealer #19835