Repocast.com (A Miedema Company) Auction Terms and Additional Information Please Note:  Items are selling from our locations at:  3450 12th St., Wayland, MI 4934 and 1290 N. Ortonville Rd., Ortonville, MI 48462 unless otherwise stated in the online listing/description.  

Inspections by appointment only. Refer to lot level contact information or contact Jared Hekstra at 616-291-7003.

All items purchased on the specialty online auctions are to be paid for and picked up within 7 days from the auction date. After this 7 day period if your invoice has not been both paid for and picked up, an automatic $50 per lot/per day storage fee will be added to your invoice and will be subject to being resold at the high bidder’s expense.  After  2 weeks from the date of the auction (NOT from the date paid or picked up) no adjustments can be made on the invoice with regards to any item purchased on the auction and upon this time full payment is also still required regardless of the condition or the availability of the item.

• Removal within 7 business days after auction, no later than 7/30/2020
• Removal by appointment only.  
• Refer to lot level contact information for removal, or contact Jared Hekstra at 616-291-7003 to arrange for removal of aircraft. 
• Storage fees of $50.00 per day will apply starting on the 8th day after auction, which is 7/31/2020 and will continue to accumulate until aircraft is removed from seller's location.

Photo ID and thumbprint will be scanned during every transaction at the time of pickup. We respect your privacy and we value you as a customer. The photo ID and thumbprint requirement is a security measure to document the actual person picking up item(s) from our facility. The intent of the requirement is to protect you and us, ensuring the items make it to the winning bidders. 

Wayland Location: Forklift & Loading Dock Available

Ortonville Location: Forklift Available, NO Loading Dock

Byron Center Location: Forklift & Loading Dock Available 

Payments are made directly to Repocast.com at one of our 3 locations.  Payments are not accepted at the selling location of the aircraft.

• Cash
• Wire Transfer (details included with invoice)
• Cashier's Checks (payable to Repocast.com)

IMPORTANT INFORMATION:

1. Photo ID and thumbprint will be scanned during every transaction at the time of pickup. We respect your privacy and we value you as a customer. The photo ID and thumbprint requirement is a security measure to document the actual person picking up item(s) from our facility. The intent of the requirement is to protect you and us, ensuring the items make it to the winning bidders.

2. Payment of $10,000+ with cash, or specific forms of payment (cash, money order, cashier’s checks with a face value of less than $10,000.00 each) which combine for a total of $10,000+ will require completing the IRS 8300 form. A cashier’s check with a face value of $10,000+ will not require the IRS 8300 form.

There is no discount offered on the Buyer's Premium for this auction.

10% BUYERS PREMIUM for each item that sells on this auction. 

Explanation of Sales Tax on Buyers Premium

All bidders will be subject to 6% State of Michigan Sales Tax.

If you are claiming tax exemption, please review options within your online account to complete an electronic Michigan Sales Tax Exemption claim.

Sales tax is calculated on total sales price which includes Buyer's Premium (therefore Buyer's Premium is also taxable).

Explanation of Sales Tax on Buyers Premium

If you are the winning bidder of an aircraft that needs to be transported to another location, you may arrange directly with any transport company of your choice.

Titled Items: paperwork will be processed electronically through contact with our title department. Our Title Coordinator will contact you and explain the process. Please do not proceed to pickup a titled item until our Title Coordinator has told you to do so. You will not be allowed inside our buildings to sign titles, if you arrive to pickup before the Title Coordinator has told you to do so, you will not be allowed to pickup the titled item. 

Note to the buyers of titled items: Repocast.com, Inc. is required by the State of Michigan to broker all vehicles, trailers or titled items sold.

Fees Associated with Purchasing an item that requires a State of Michigan transfer of title ownership.

Michigan Resident buyers:

• $125.00 Broker Title Processing Fee (plus Michigan state sales tax) will be charged for all titled items which we are required to broker.  
• $15.00 fee for State of Michigan title transfer will be charged.     
• Optional: Plate & Registration Fee. At your request, we can apply for your plates and registration on your behalf. If you wish to have us do so, you MUST provide us with proof of insurance for the purchased titled item before you can remove it from the auction site. If not, you must be prepared to tow or trailer your titled item. Fees are based on a calculation of new vehicle class and previous vehicle registration fees (required by State of Michigan). The applicable fees will be added to your invoice.    
• Optional: $1.00 Temporary Tag Fee. If you request a temporary tag a $1.00 fee is assessed by the State of Michigan and will be added to your invoice.     
• Optional: $1.00 Lien Fee. If there is a lien holder on the item purchased a $1.00 fee is assessed by the State of Michigan and will be added to your invoice.     

Non-Michigan Residents buyers:

• $125.00 Broker Title Processing Fee (plus applicable sales tax rate based on state of residence). 
• Any other necessary fees according to their state rules for titled items.    
• Please note that buyers will need to sign the appropriate paperwork required by the state for title transfers. Title processing may take up to 15 business days. Then will take 4-10 business days to receive your title from the Secretary of State.    

For Out of Country buyers:

• $125.00 Broker Title Processing Fee 
• State of Michigan requires we collect 6% sales tax and transfer the title as an “In-Transit” through the Michigan Secretary of State before the title is issued to the buyer.    
• All out of country buyers must contact our title department to start the paperwork before the item can go across the border. We will need to obtain the appropriate documents and signatures to transfer the title; this could take 3 to 5 weeks. We recommend all titled item purchases made with the intent of taking the titled item out of the country contact the title dept. as soon as a winning bid is accepted.    

QUESTIONS? Contact one of our Title Departments for more information:

• Byron Center: (616) 261-4971 
• Ortonville: (248) 627-5200 ext. 9720  
• Wayland: (616) 261-4982  

This means that an items sale is contingent upon receiving the approval of the Bank, Court, Trustee or Lien Holders affiliated with that particular piece. Please call (616) 389-6453 for the Approvals on all items that sell subject and we will be happy to assist you.

Operating Condition of options listed: Auction Company lists the options that the item may have, however options have not been tested or verified to be in working condition.

Operating condition of vehicles (including autos, trucks, semis, recreational, etc.) and/or options of same: Auction Company does not conduct a road test, nor are the vehicles inspected for mechanical defects. Auction Company testing is limited.

CUSTOMER INSPECTION: Please rely on your own inspection prior to bidding. Any item that is mechanically operated or has an ignition may be started (includes: vehicles, lawn mowers, equipment, etc.) and may be put into gear(s), however for liability reasons the item may not be driven on or off the Auction Company’s lot. The item must not leave the parking space in which it is on the Auction Company’s lot.

All high bids are considered legal binding contracts and all sales are final. All items are sold "as is where is", with NO guarantee, warranty, or possible refund written, expressed, or implied. The working/running condition of an item may not be known and may not always be listed in the items description. Sometimes we do know and list the condition of the items, but many times do not.  Please note that all sales are final regardless of the purchase items condition, unless the discretion of a Repocast Manager deems differently. 

All items sell AS IS - WHERE IS WITH ALL FAULTS and with no warranty of any type expressed or implied as to the merchantability or fitness for any particular purpose of any goods offered in this sale. All sales are made on an AS IS - WHERE IS WITH ALL FAULTS basis.  All buyers are urged to physically inspect the item prior to bidding during the inspection period.  No bids can be withdrawn once submitted before, during or after the auction for any reason. BUYER agrees that these terms as well as all other terms set forth below, can be amended or revised only in writing, signed by the auctioneer.  BUYER also agrees that any oral representation made by the auction company or its agents shall not modify these "AS IS - WHERE IS WITH ALL FAULTS" terms.  BUYER understands that any description given, written on the equipment, or advertised by any other means is not guaranteed, and BUYER will rely entirely on their own inspection. All information and descriptions contained in advertising this sale are believed correct, but no responsibility is assumed by Auction Co., or Seller for any errors or omissions.

NO REFUNDS, RETURNS, OR EXCHANGES. All items sold "AS IS WHERE IS" with all faults.

Liquidated Damages Fee:

BIDDER explicitly authorizes the charging of his or her credit card for the liquidated damages fee which are applied when bidder/buyer’s invoice(s) are not paid in full within 8 days of auction date.

Liquidated damages fee will equal up to 20% (or minimum of $25.00) of total purchase price during the auction or immediately following the auction. Note that the purchase price is the sum of the bid price, buyer’s premium, buyer's fee, and sales tax if applicable.

Liquidated damages fee is assessed based on damages to be recovered by Auction Co.; although actual damages are difficult to ascertain because of risk and costs associated with re-listing an item, storing it for an undetermined amount of time and, in certain circumstances, needing to physically relocate an item.

Storage fees:

At the discretion of the auction company, item(s) that are paid in full may be held/stored for an additional 5 days for prearranged customer pickup.

BIDDER explicitly agrees to pay accumulated Storage fees which will apply at $50 per lot per day for the additional 5 days held by auction company. Items will not be held/stored beyond a total of 13 business days from date of auction, at which point will be considered abandoned and will be relisted on auction offering for sale to public.

We do not accept partial payments. Invoices must be paid in full. All payments must be in U.S. Funds.

Posted closing times and displays of Auction Co.'s current time are approximate. Auction Co. reserves the right to close early or extend auctions at any time at its discretion. It is strongly recommended that bids be placed early to avoid losing out due to an ill-timed, last minute bid. All times based on Eastern Standard Time. Dynamic bidding - The dynamic bid on this website is a feature that does NOT allow an item to sell at the end of the auction until there is 10 minutes of bidding inactivity. Example - An item is bid on at 7:50pm. An auction is scheduled to close at 8:00pm. When this bid is placed the ending time will automatically extend to 8:10pm. When another bid is placed at 8:01 the auction will extend until 8:20pm. This will give bidder 19 minutes to place another bid.  If no bids are placed this auction will conclude at 8:20pm. The key to your dynamic bidding feature is that the auction extends from the preset closing time in 10 minute intervals, NOT 10 minutes from when you placed your bid. 

You can place bids on an item before the auction starts, this is especially helpful if you will not be available on the day of the auction.

When an item status shows as “Pre-Bidding” this simply means that bids placed are not displayed on the auction site until the date the auction is scheduled to open.

Although there may actually be pre-bids placed on the item, an item in pre-bidding status will show # of bids placed as 0 and the current bid (required bid) will show as the opening bid.

You may place a pre-bid through the same process as normal bidding. You can monitor & view your bidding activity on items in pre-bid status from your Watch List.

When you place a pre-bid, if you are notified that your bid is not higher than another user’s pre-bid this means that another bidder(s) has already placed a pre-bid equal to or higher the amount of the pre-bid you are attempting to place. You will need to raise your pre-bid if you want to be in the winning position.

All pre-bids will be tallied and shown when the auction actually begins. 

A bid may be placed for any amount equal to or greater than the current required bid amount, which means your bid amount is not required to be an increment of the posted bid increment.

Example:

•     Current bid at $10.00 with a bid increment of $5.00.    
  
•     Minimum bid required would be $15.00.  
  
•     A bid may be placed for any amount equal to or greater than $15.00.   
  
•     The bid amount is not required to be in increments of $5.00; therefore a bid could be placed for $17.00 or $76.00 or whatever amount you wish to bid as long as it is equal to or greater than the minimum bid required.   
  
•     The winning bid may end up at any amount. It may not be divisible by the stated increment. The winning bid will be the highest  
  

Refer to Automatic Bidding section for further explanation of the convenient method of placing an automatic bid. 

Automatic Bidding (auto bid) option makes bidding convenient allowing you to enter the maximum bid amount* that you are willing to bid on an item. Based on your Account Preferences for notification, you may be notified whenever your auto bid increases &/or when it is exceeded.

The auction company or other bidders do not have access to see your auto bid amount. You are the only person that can see your auto bid amount (displayed in your Watch List).

Your auto bid will not “jump” to the maximum amount. The auto bid will increment up only with competing bids until either the item completes with you as the high bidder, or until your auto bid has been exceeded by another bid.

If another bidder already has an auto bid in place when you place your auto bid, the (2) competing auto bids will continue to increment until either the lower auto bid is maxed out; or if both auto bid amounts are the same the auto bid that was placed first will become winning position of the bid.

Example #1:

1. Minimum bid is at $10.00 with a $5.00 bid increment.
2. Bidder #1 places an auto bid for $77.00.   
3. No other auto bids are in place, therefore Bidder #1 is high bidder at $10.00.
4. Bidder #2 places an auto bid for $23.00.
5. Bids would compete with each other as follows:  

 Bidder #1 - $10
 Bidder #2 - $15 
 Bidder #1 - $20 
 Bidder #2 - $23 (maximum auto bid placed) 
 Bidder #1 - $25 (high bid position)    

The high bid is $25 not $28 because Bidder #2’s auto bid was exceeded at an increment other than $5.

Example #2:

1. Minimum bid is $10.00 with a $5.00 bid increment.
2. Bidder #1 places an auto bid of $77.00.
3. No other auto bids are in place, therefore Bidder #1 is high bidder at $10.00
4. Bidder #2 places an auto bid for $25.00
5. Bids would compete with each other as follows:  

 Bidder #1 - $10
 Bidder #2 - $15 
 Bidder #1 - $20 
 Bidder #2 - $25 (maximum auto bid placed) 
 Bidder #1 - $30 (high bid position)  

The high bid is $30 because Bidder #2’s auto bid was exceeded at an increment equal to $5.

Example #3:

1. Minimum bid is $10.00 with a $5.00 bid increment.
2. Bidder #1 places an auto bid of $25.00.
3. No other auto bids are in place, therefore Bidder #1 is high bidder at $10.00
4. Bidder #2 places an auto bid for $25.00 (same amount as Bidder #1 auto bid)
5. Bids would compete with each other as follows:  

 Bidder #1 - $10
 Bidder #2 - $15 
 Bidder #1 - $20 
 Bidder #2 - $25 
 Bidder #1 - $25 (high bid position)  

The high bid is $25 with Bidder #1 in high bid position because Bidder #1 placed the $25.00 auto bid before Bidder #2.

*Buyer’s premium and sales tax will be in addition to the winning bid amount.

Posted closing times and displays of Auction Co.'s current time are approximate. Auction Co. reserves the right to close early or extend auctions at any time at its discretion. It is strongly recommended that bids be placed early to avoid losing out due to an ill-timed, last minute bid. All times based on Eastern Standard Time. Dynamic bidding - The dynamic bid on this website is a feature that does NOT allow an item to sell at the end of the auction until there is 10 minutes of bidding inactivity. Example - An item is bid on at 7:50pm. An auction is scheduled to close at 8:00pm. When this bid is placed the ending time will automatically extend to 8:10pm. When another bid is placed at 8:01 the auction will extend until 8:20pm. This will give bidder 19 minutes to place another bid.  If no bids are placed this auction will conclude at 8:20pm. The key to your dynamic bidding feature is that the auction extends from the preset closing time in 10 minute intervals, NOT 10 minutes from when you placed your bid.