Buyer info ;
Sign up online, fill up the form and follow instructions. It usually takes 24h for online applications to become active.A deposit may be required. if your account has been activated with a deposit, clic on the 'deposit required' botton and enter your password and user name. Deposits are pre-autorised on your credit card and valid for 7 days. In the event you do not win any lots it will be relesed entirely.
Bidders who do not pay their bills will be banned and their case submitted to our legal department.
Buying options at GIQ auction.com
Buy it now ;
It says it all; you can shop and buy now before the auction starts. Sign up, log on and you can be the owner today. This option ends once the auction starts. Auction fees and conditions apply the same way they would on auction day. Perfect if you need equipment fast or have found a screaming deal!
Unreserved lot ;
This item has been listed with no reserve price; it will sell on auction day to the highest bidder. This option makes sure the lot sells for both bidder and buyer.
On approval ;
An increasingly popular way to buy and sell at an auction. GIQauction.com created an improvement on this model buy having the seller participate in real time in the auction. An ‘’on approval sale’’ will have a set reserve price, in the event it was not reached once the auction is over, the seller will have the option to approve the winning bid in near real time. This option removes the unwanted owner ‘’buybacks’’, yet still gives the bidders a chance to buy below reserve.
Please read carefully all our conditions posted with every lot online. Here are some of the fee's you will be charged.;
3. ADMINISTRATIVE CHARGES AND TERMS OF PAYMENT OF THE ACQUIRED AUTOMOTIVE EQUIPMENT 3.1 For any sale of the Automotive Equipment made in the Auction or through the Purchase Option, the Bidder shall pay the Auctioneer, for each lot of Equipment acquired, administrative charges of: 10% of the purchase price of the lot, applied to the portion of this purchase price that is less than or equal to $5,000 before taxes; and b) 3.5% of the purchase price of the lot, applied to the portion of this purchase price that is greater than $5,000 before taxes.; All titled vehicules have a 65$ fixed fee. 3.2 Any Equipment lot acquired by the Bidder, during the Auction or through the Purchase Option, for less than $10,000 before Taxes, must be paid by the Bidder on the same day the acquisition was made.For any Equipment lot acquired by the Bidder for $10,000 or more before Taxes, the Bidder will have to pay at least 25% of the total amount due on the same day of the acquisition and the remaining amount shall be payable within the following seven (7) days. Failing to meet these deadlines, the Auctioneer may consider, without having to notify the Bidder, that the Bid placed by the Bidder which permitted him to acquire the Equipment lots during the Auction has never taken place and/or that he has never exercised the Purchase Option and that, in either of these situations, the sale is automatically cancelled. 3.3 The Bidder may pay the amounts owed in cash, by debit card, bank transfer, certified cheque, bank draft or regular cheque with an irrevocable bank guarantee considered acceptable by the Auctioneer, or by credit card. A 3% fee will be applied on any amount paid by credit card since it is processed by a third party enterprise; 3.4 Any amount of money owed by the Bidder to the Auctioneer shall bear interest at the annual rate of fifteen percent (15%) after the expiry of a period of thirty (30) days from the date such amount is due 3.5 The Parties agree to a retention of the title to the effect that the transfer of property of the Equipment lots acquired during the Auction or through a Purchase Option shall only take place once the Bidder has remitted to the Auctioneer the entire amount of the purchase price as well as the administrative costs, the Taxes and any other amount that may be payable under the Contract.