Selling Info

Success Is Built On A Foundation Of Correct Identification, Promotion And Application Of The Auction Method. 

There are many steps leading to a successful auction. As a company focused on providing professional, seamless service, MM1 Auctions LLC. knows and understands these methods and delivers consistently successful results. Experience has given MM1 Auctions LLC a proven track record of performance. MM1 Auctions LLC also has extensive product knowledge. This gives us the advantage in marketing the value and uniqueness of your items.

To help you better understand the auction method of marketing, we have provided a brief overview of the entire process from start to finish. Please feel free to contact us for further information or to find out how we can assist you with your asset liquidation needs.

1. Initial      Consultation

The auction process begins when our firm is contacted by a potential seller. An MM1 Auctions LLC representative will then contact the interested party and ask a few questions about the property being considered for auction. These questions will help our staff get a feel for the situation and help direct them to the most qualified Auction Manager for a seller’s needs.

We will then explain the auction method, terms, commissions, and current market conditions for your property. Once terms have been established, a contract is drawn and the MM1 Auctions LLC marketing, organizational, and logistical teams are set in motion. 

2. Pre-Auction 

Hundreds of hours of work can go into an auction before the first crack of the gavel is heard. From advertising, cataloging, to addressing the needs of potential buyers, our staff of auction professionals will work diligently to insure a successful auction.

The progress of the auction is reported to the seller throughout the process. Good communication lets you know what to expect on auction day. We also start communicating with our large network of buyers. By not only relying on traditional marketing methods, our database of proven buyers lets us contact them directly! We know the buyers!

3. Auction Day

Insuring the comfort of our bidders on auction day is a must. Quality refreshments, restroom facilities, quick registration, and check out keep bidders comfortable and ready to bid. A stress-free event is the product of proper planning and attention to details. This should be an exciting and worry free day for both buyer and seller.

Bidding Info

Bidding Process:

• Create      an account
  • In       order to participate in our online auctions, you will first have to       create a bidder account.   This will be where you setup your Username,       password and personal information that will be attached to your bidder       profile. Available soon.
  • Get       started with your free bidder account. 
• Placing      bids
  • To       begin bidding in an online auction you must first register for the       auction by accepting the terms of the auction.  The Terms and       Conditions are unique to each online auction.  Information such as       payment details, shipping information, buyer’s premiums, etc can be found       here.
  • Once       the terms and conditions are agreed to, you are now ready to start       placing bids.  You have the option to place a minimum bid amount or       a maximum bid amount.
    • Minimum        Bid –        The smallest current bid increment that is being accepted for the item.
    • Maximum        Bid –        That highest price you are willing to pay for an item.  This option        is more “hands-off” and the system will bid for you by increments until        it reaches your max bid if someone else were to bid against you.
  • Once       your bid has been placed, you will be notified whether you are the       highest bidder or if someone else has placed a bid higher than yours.        If you are the high bidder and if someone places a bid higher than       yours before the close of the auction, you will receive notification via       email (also if elected, you can also receive a text notification) that       you have been outbid.
• Invoicing      and payments
  • Invoices       are sent to the winning bidders the next business day after ending of       auction unless stated otherwise.
  • Invoices       will include important information about item pick-up dates and shipping       options.
  • Invoices       do not include costs for shipping and hauling.  If you choose to       have your items shipped, a separate invoice will be sent regarding       shipping fees.
  • If       you wish to use an alternative method of payment that is not the credit       card on file, please contact us once you receive your invoice and let us       know how you would prefer to pay.
  • Items       will not be processed or shipping until your invoice is paid in full.
• Shipping      info
  • Once       you have completed your payment you will now need to let us know if you       would like to have your item(s) shipped.  Shipping is not an option       on all auctions.  In some cases, it is just not feasible.  If       you have specific questions regarding shipping arrangements, costs and       options please contact our shipping department.

Frequently Asked Bidding Questions:

Are there fees for bidding on an auction?

There are no charges to bid. Charges are only incurred if you are the winning bidder. Some auctions may be subject to a buyer's premium charge, which will be outlined in the terms & conditions of the auction.

How can I see the status of the items I've placed a bid on?

Click on My Items in the top right of every bidding page. That will bring up a list of the items you've placed bids on. Each item will list the time left in the auction, the current bid, your maximum bid and the status of the auction.

Can I raise my maximum bid (even if no one has outbid me)?

You may increase your maximum bid at any time before the auction has ended. If you decide to increase your bid while you are still the high bidder, the current bid will not increase (you will not be bidding against yourself).

How can I make sure I'm seeing the most up-to-date bids?

Remember to refresh often to be sure the bids on display are the most recent. Either use the refresh button next to each item in the catalog view or use the refresh button in your browser.

Why can't I place a bid?

To place a bid, you must be registered and approved for the auction.

How do I remove a bid?

Once a bid has been placed, there is absolutely no way to cancel it under any circumstances.

What does it mean to "Force a bid"?

"Forced Bid" is a bidding strategy by which a bidder increases the bid by more than the next accepted bid (placing your bid at $150 when the next accepted bid is $125). This practice is used by some bidders to discourage others from bidding in hopes of acquiring an item at a lower price. There are many theories on the effectiveness of this practice and a bidder who wishes to apply it does so at their own discretion. The auction company will not lower the price of an item that has been won by a "forced" bid with no other competing bids.

Terms And Conditions

PLEASE READ AND REVIEW THE TERMS THOROUGHLY PRIOR TO BIDDING
IF YOU HAVE NOT READ AND UNDERSTAND THESE TERMS PLEASE DO NOT BID
BY BIDDING ON THIS AUCTION, BUYER AGREES TO ALL TERMS AND CONDITIONS SET FORTH AND ENTERS INTO A CONTRACTUAL AGREEMENT TO PURCHASE THE ITEM(S) UNDER THE FOLLOWING TERMS AND CONDITIONS:
1. CATALOG:MM1 Auctions LLC has put forth every effort in preparing the catalog for this auction to provide accurate descriptions of all items. All lots are sold AS-IS, WHERE-IS, with all faults, imperfections and errors of description. Due diligence is the responsibility of the bidder/buyer. Printed statements or descriptions by staff are provided in good faith and are matters of opinion.
2. PAYMENTS: There is a 5% Buyers Premium on Tractors and 10% on parts added to your total purchase. All sales are final. No credit card charge backs will be allowed. All accounts must be settled at the conclusion of the auction. We accept Cash, Checks, Certified Funds, Visa & MasterCard ONLY. If paying by credit card, you will be charged for your purchases, plus buyers premiums, plus a 5% Credit Card Fee and any applicable taxes. NOTHING will be charged to your card until a purchase is made. Only Pickup bidders may pay by check or cash. Note: Checks may be processed the day of the auction; be sure to have adequate funds in your account. Each transaction necessary to collect insufficient funds will have a $100 fee imposed plus the liability of Default of Buyer below.
3. DEFAULT OF BUYER: Successful bidder not paying for items within 3 days of the date of the auction will be considered in default. Such default by the Successful Bidder will result in that Bidders liability to both the Seller and MM1 Auctions LLC. Seller shall have the right to (a) declare this contractual agreement cancelled and recover full damage for its breach, (b) to elect to affirm this contractual agreement and enforce its specific performance or (c) Seller can resell the items either publicly or privately withMM1 Auctions LLC. and in such an event, the Buyer shall be liable for payment of any deficiency realized from the second sale plus all costs, including, but not limited to the holding/transporting/storage costs of the items, the expenses of both sales, legal and incidental damages of both the Seller and MM1 Auctions LLC
In addition,MM1 Auctions LLC. also reserves the right to recover any damages separately from the breach of the Buyer. The purchaser agrees to pay all reasonable attorney fees and costs incurred by MM1 Auctions LLC in the collection of funds. The purchaser also agrees that a storage/handling fee of 2% per month be added to the balance of any unpaid balance due MM1 Auctions LLC and any other costs or losses incurred by the Buyers failure to adhere to these terms. Any debt collection or dispute proceedings will be litigated or arbitrated in Winnebago County, Illinois at the option of both the Seller and MM1 Auctions LLC.
Both the Successful Bidder and Seller shall indemnify MM1 Auctions LLC for and hold harmless MM1 Auctions LLC from any costs, losses, liabilities, or expenses, including attorney fees resulting from MM1 Auctions LLC being named as a party to any legal action resulting from either Bidders or Sellers failure to fulfill any obligations and undertakings as set forth in this contractual agreement.
4. PICK UP ITEMS: All pickups are scheduled in advance. Please see the pickup time and location in the description of the item. Its the Buyers responsibility to be certain all items are included before removing boxes from the premises. Items not picked up can incur both a moving and/or storage fee.
 

BIDDER VERIFICATION: Bidding rights are provisional, and if identity verification is questionable, MM1 Auctions LLC has the right to reject the registration, and bidding activity will be terminated. The Seller and MM1 Auctions LLC reserve the right to preclude any person from bidding if there is any question as to the person's credentials, mental fitness, etc. Bidders agree to keep their username and password confidential as they are responsible for ANY and ALL activity involving their account. If the registered bidder's user name is offensive to MM1 Auctions LLC or in their sole opinion detrimental to Bidding Activity, then MM1 Auctions LLC reserves the right to delete the bidder from bidding or unilaterally change the username with notification to the Bidder. When using the web site you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges.
 

MAXIMUM BID: When you bid your maximum bid, the current bid price does not automatically advance to your maximum bid. Another bidder has to bid to increase the current price and the computer will automatically bid up to your maximum in the increments specified.
 

AUCTION END TIMES:MM1 Auctions LLC online only auctions are timed events and all bidding will close at specified time. However, our auctions also have what is called an Auto Extend feature. Any bid placed within the final 5 minutes of an auction results in the auction automatically extending 5 additional minutes. The bidding will extend in 5 minute increments from the time the last bid is placed until there are no more bids, and the lot sits idle for 5 minutes. Therefore, the auction will not close until all bidding parties are satisfied and no one can be outbid at the last seconds without having another opportunity to bid again.
 

TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software, internet or any other online auction-related technologies,MM1 Auctions LLC reserve the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software, nor MM1 Auctions LLC. shall be held responsible for a missed bid or the failure of the software to function properly for any reason.
 

CONDUCT OF THE AUCTION: Conduct of the auction and increments of bidding are at the direction and discretion of MM1 Auctions LLC. MM1 Auctions LLC reserves the right to reject any and all bids for any reason and also reserves the right to cancel this auction, or remove any item or lot from this auction prior to the close of bidding. All decisions of MM1 Auctions LLC are final.
Your bid on this auction indicates both an understanding and an acceptance of the terms of this contractual agreement between yourself and both MM1 Auctions LLC and the Seller and that you, as the Bidder, are prepared to purchase items under these terms and conditions.