Buyer Terms
731-424-0328

Sale Announcement:

  • All announcements made the day of the sale take precedence over all printed material and advertising.

Payment:

  • All purchases must be paid in full on sale day. Full settlement may be by Cash, Cashiers Check or company and personal checks. 
  • If paying with a check that is not accompanied by a bank letter or personally known by auction company, we will run the run through our check reader with 3% convenience fee applied.
  • All checks should be made out to Mayco Auctions, LLC.
  • We Accept Credit / Debit cards Visa, MasterCard, Discover and American Express with 3% convenience fee applied. 

Tennessee Sales Tax:

  • Taxable items $3200 and under will be taxed at 9.75 %.  An item that exceeds $3200 will be taxed at 7% after the first $3200 taxed at 9.75%
  • Farmers must provide a copy of their Certificate of Exemption from sales and use tax for Agricultural Exemptions.
  • Dealers must provide certificate of resale on day of sale to claim exemption of sales tax.
  • Auto Dealers must provide copy of their TN Auto Dealer License & Certificate of Resale. 

Bidding:

  • In the case of a tie bid, the Auctioneer reserves the right to reopen the bidding.
  • Auctioneer reserves the right to revoke any bid card at any time
  • Anyone bidding for an account other than their own must obtain a separate bid number for that account.
  • The high bidder’s bid accepted by auctioneer constitutes a verbal binding agreement of purchase of the lot being bid on and bidder may not retract his bid or be entitled to any adjustment, allowance, rescission or damages or any other remedy regarding the condition of the any items purchased.

Buyer’s Fee:

  • Each vehicle / item will include a Ten Percent (10%) buyer fee of purchase price capped at $300

No Warranties:

  • All sales are AS-IS, WHERE-IS, with no warranty express or implied.
  • Bidder has had the opportunity to inspect all sale items and bidder agrees to solely rely on his inspection. OBD II Scanners are welcome and suggested.
  • Bidder will not be entitled to any adjustment, allowance, or damages or any other remedy regarding the condition of any item purchased.
  • All sales are final.

Auction Catalog & Brochure:

  • All descriptions and conditions of equipment in sale catalog and advertising brochures are believed to be correct. However, neither the owner nor the Auction Company or its auctioneers are responsible for any errors in description or condition. The buyer’s catalog and advertising brochures are to be used as a guide only.
  • Mayco Auctions, LLC nor its auctioneers guarantee year models, mileage, or condition of any items. Meter readings or mileage in this catalog are merely a reading at the time of check in. Buyer accepts responsibility to inspect and verify hour or meter readings prior to bidding.
  • It is the buyers responsible for verifying any manufacturing warranties with the equipment or vehicle dealerships.

Risk Of Loss:

  • Once the auctioneer accepts the highest bid the item is then sold. Buyer then takes delivery and assumes all risk of loss for the item and buyer agrees to obtain full liability insurance coverage for the item.

Titles:

  • Titles will not be available on sale day. If you are unable to pick up your title in person, we will be glad to mail it certified using United States Postal Service.
  • No title will be available for trailers, atvs, utility vehicles, or off road motorcycles unless auctioneer announces the unit has a title. 

Loading:

  • Mayco Auctions, LLC or employees are not responsible for loading or unloading equipment, but will assist you with your equipment. We are not responsible for securing loads.

Removal, Storage and abandoned Items:

  • All purchased items must be removed from auction site within five (5) business days of auction sale date the items where purchased. After five (5) days each item will incur a $25 per day storage fee per item up to Forty Five (45) days after original purchase date. Items remaining on Auction Yard past Forty Five (45) days of the auction sale date will be considered abandoned and Auctioneer may resell items. Storage fees will continue until item is resold.
  • Removal Hours: Monday – Friday 9:00 am – 5:00 pm (CST)

Auction Site:

  • By attending the auction, buyers and spectators acknowledge that the auction site and anywhere items are to be sold or displayed is potentially a dangerous place. Heavy equipment is being operated and even potentially dangerous material present such as, but not limited to chemicals, pressurized liquids or gases, live electric circuits and other potential dangers that may exist. All individuals at the sale site and display areas shall be there at their own risk and at all times take full notice of the conditions of the premises. Bidders shall warn their agents, employees, or any other persons accompanying them of these possible dangers and take full responsibility for any injury or death to any persons or persons whomsoever, or property damage caused by buyer or buyers’ representative or spectator. No person shall have any claim against the auction company, auctioneers, their agents, or employees for any injuries sustained or death to any person or persons whomsoever.