’S BUYER POCKET GUIDE - 2014 -
HOW TO
JANUARY 17-26
PRE-REGISTER
1. 2. 3. 4.
2014
BECOME A BIDDER www.mecum.com
FILL OUT THE BIDDER REGISTRATION FORM
by the deadline stated on the auction-specific form. Register online or print form to fax or mail.
PAY REGISTRATION FEE of $100 (or $500 for Gold Membership) by credit card or check. Provide credit card information on the Bidder Registration Form or mail check to address shown below. SUBMIT A COPY OF REGISTRANT’S DRIVER’S LICENSE
by email, fax or mail. Email, mailing address and fax number shown below.
PROVIDE A FORM OF DEPOSIT
Option 1: An “authorization only” hold for $500 placed on the provided credit card (debit cards are not accepted). Credit card holds are never charged and will drop from a statement by the following billing cycle. Option 2: Provide a $500 cash deposit collected on-site.
5. 6.
Option 3: Provide an original bank letter of guarantee that matches Mecum’s sample letter exactly. See sample letter online with bidder form.
RECEIVE TWO COMPLIMENTARY admission tickets in
the mail prior to the auction.
REPORT TO THE BIDDER REGISTRATION BOOTH on-site and pick up credentials. Credentials act as admission pass for the remainder of the auction.
FIND AND SUBMIT FORM ONLINE
AT WWW.MECUM.COM
or email
bidding@mecum.com
or fax
(262) 275-3424 *Incomplete registrations or registrations received after the deadline will not qualify for Pre-Registration. Forms received that do not qualify for Pre-Registration will be available for completion at the Bidder Registration area of the auction.
or mail
Mecum Auctions 445 South Main St. Walworth, WI 53184
GOLD MEMBERSHIP
PERKS Gold Bidder Registration is $500 and valid for 1 year AUTOMATIC AUCTION REGISTRATION No pre-registration, no bank letter and no deposit* COMPLIMENTARY AUCTION ADMISSION The Gold Membership Card acts as an admission pass for the bidder and one guest at each auction.** EASY PICK-UP OF BADGES While at the auction, simply visit the Gold Membership desk within the Bidder Registration area to swipe Gold Card and receive badges. Gold members can purchase additional guest badges on-site. A Gold guest badge is $100; a Standard guest badge is $50. SPECIAL SEATING Special seating for Gold Member Bidders and their guests designated by “Gold Members Only” signs. SPECIAL MAILINGS Inclusion on Mecum’s preferred mailing list and a complimentary subscription to the Mecum Monthly Magazine. NOTES: * Absentee bidding deposits will apply as outlined in the Absentee Bidder Registration Forms. (The $100 registration fee is waived.) **The Bloomington Gold auction requires a separate admission ticket for each person.
HOW TO
REGISTER ON-SITE 1. 2. 3. 4. FILL OUT THE BIDDER REGISTRATION FORM at the auction or print one in advance from www.Mecum.com.
PAY REGISTRATION FEE of $100 (or $500 for Gold
Membership) by credit card, cash or check. Provide credit card information on the Bidder Registration Form.
PROVIDE A DRIVER’S LICENSE
A copy will be made by a Mecum Staff member.
PROVIDE A FORM OF DEPOSIT (3 options shown below)
Option 1: An “authorization only” hold for $500 can be placed on the provided credit card (debit cards are not accepted). Credit card holds are never charged and will drop from a statement by the following billing cycle. Option 2: Provide a $500 cash deposit collected on-site. Option 3: Provide an original bank letter of guarantee that matches Mecum’s sample letter exactly. See sample letter online with bidder form.
HOW TO BID VIA TELEPHONE Absentee bidding is a convenient way to bid on vehicles at Mecum auctions when attendance at the event is not an option. It is not for everyone. Collector cars can be a high-dollar investment. Experienced collectors typically have an agent on-site to inspect vehicles of interest, or at a minimum, have researched the vehicle’s history and condition in advance of the auction. Absentee bidding is generally preferred for experienced auction bidders. Absentee Registration closes at noon the Friday of the auction. All forms and deposits must be received by Mecum at that time in order to qualify as an absentee bidder.
1. 2. 3.
FILL OUT THE TELEPHONE BIDDER FORM
for selected auction. Register online at www.Mecum.com or print form to fax or mail.
PAY REGISTRATION FEE of $100 by credit card or check.
Provide credit card information on the Telephone Registration Form. (Existing Gold Members will not be charged this fee.)
PROVIDE A DEPOSIT of no less than 20% of the maximum dollar amount to spend. Foreign buyers will be required to deposit a minimum of $10,000. Deposits must be received prior to bidding. If a winning bid is not made, the deposit will be returned in the form of a company check within 30 business days after the conclusion of the auction. Deposit options: Wire Transfer or check (personal or business check) - Checks must be received by Mecum 72 hours in advance of the auction start date.
4.
WAIT FOR THE CALL. Absentee bidders will indicate the
5.
PAY FOR PURCHASES Absentee bidders must pay no
vehicles they are interested in on the bidder registration form. Once the receipt of the 20% deposit is confirmed, a Mecum representative will call the bidder when those lots are crossing the block and assist them in the bidding process. If an absentee bidder does not wish to be on the phone in order to bid, they may provide a maximum bid and a Mecum representative can Proxy bid in their place up to that maximum amount stated.
later than the first business day after their purchase (due to banks being closed on weekends). Wire Transfer ($100 processing fee applies), personal or company check and Certified Funds are accepted forms of payment Special Buyer’s Premiums apply for Absentee Bidders. See Telephone Bidder Form online for details.
BUYING A VEHICLE STEP BY STEP
1. 2.
WIN THE BID! Sign the block ticket presented by the block clerk and keep the yellow copy.
CHECK-IN AT THE AUCTION SETTLEMENT OFFICE
within one hour of the sale to review the invoice with a Mecum staff member. Buyers who plan to make several purchases may opt to write one check for all purchases, in which case a check must be put on hold in the Auction Office. This allows Mecum to pay the sellers while buyers continue to enjoy the auction. • Purchases may be paid for with cash, a personal or business check (U.S. bank checks only; must have immediate available funds), certified funds or a wire transfer (credit cards are not accepted; there is a $100 processing fee for a wire payment). • Upon payment, a paid-in-full receipt will be issued and the Mecum representative will then review and verify the Bill of Sale. • The Bill of Sale contains crucial information that must be 100% accurate. The address provided must reflect the city and state that the car will be registered in (this is also the address that will appear on the title). The title will be assigned ONLY to the registered bidder who won the bid. • Documents will be placed in a provided folder along with any literature that accompanies the car. • A Gate Pass will then be issued which allows the buyer to drive, or have the car transported, out of the gate at will. If paid by wire, possession of the car and Bill of Sale are not transferred to the buyer until confirmation of funds is received. Any other form of payment allows the buyer to take immediate possession.
3.
SIGN FOR THE TITLE. Titles will be sent out 14 business
4.
PAY SALES TAX. The state where the auction is held determines when this step takes place. Some states require sales tax be paid to Mecum Auctions at the time of purchase, while others require it be paid at the time of vehicle registration.
5.
days after the conclusion of the auction by UPS secondday air and will require a delivery signature confirmation. If the car is purchased by an individual or on behalf of a business (not a dealer), it must be registered and titled in the buyer’s name once it is received.
ENJOY YOUR NEW VEHICLE.
TIMED
ONLINE AUCTION Mecum is proud to present its newest form of bidding: Timed Online Auctions. With the opportunity to conveniently bid directly from a computer, handheld or mobile device, Mecum On The Clock provides customers with an additional bidding platform. OTC items will be available for viewing at OnTheClock.mecum.com prior to the start of the auction. On the specified date, the clock will begin counting down. When the clock hits zero on an item, it will be SOLD to the highest bidder.
HOW TO BID
1. 2. 3. 4. 5. 6.
Register to bid at OnTheClock.mecum.com Browse items or use the “search” feature to find something specific Place a one-time bid – OR – Enter a private maximum bid One-time bids: An email notification will be sent if outbid Maximum bids: The system will automatically bid entering the lowest bid possible up to and including the maximum bid entered. An email notification will be sent if you are outbid Once the closing process begins, one item will close every few minutes An email notification will be sent to the winning bidder of each item Items will be shipped to the address provided if not picked up within 24 hours
ON THE CLOCK AUCTION TYPES NO RESERVE (GREEN BOX) A green box around the lot number indicates “No Reserve.” This means regardless of the dollar amount reached, the lot will be sold to the highest bidder. After a bid has been placed on a “No Reserve” lot, red text stating that the item is “Selling!” will appear above the blue “Asking Bid” oval at the bottom of the lot screen. Opening bid on all “No Reserve” lots is $10. STARTING BID (BLUE BOX) A blue box around the lot number indicates a “Starting Bid.” This means the starting bid is the reserve price. If a bid is placed on a “Starting Bid” lot, red text stating that the item is “Selling!” will appear above the blue “Asking Bid” oval at the bottom of the lot screen and it will be sold to the highest bidder. RESERVE (RED BOX) A red box around the lot number indicates “Reserve.” This means a hidden reserve has been placed on the lot, which will not sell until a bid that meets or exceeds the reserve is made. If a bid is made and it is below the reserve on a “Reserve” lot, red text stating “Reserve not met!” will appear above the blue “Asking Bid” oval at the bottom of the lot screen. If a bid has been placed that meets or exceeds the reserve, red text stating that the item is “Selling!” will appear above the blue “Asking Bid” oval at the bottom of the lot screen and it will be sold to the highest bidder.
SPECIAL FEATURES • Once registered, use the same email address & password for all current and future OTC auctions • “Watch List” for items bid on & items interested in • “Won” tab for viewing won items • If a bid is placed in the last 5 seconds of the auction, an additional 5 seconds will be added until there are no further bids
FAQ’S REGISTRATION I wish to register to bid; do I need a letter from my bank in order to write a check? No. A bank letter is simply one form of acceptable deposit; the most common deposit is a $500 authorizationonly hold on a credit card. This authorization is a reserve on the credit line, not an actual payment and simply qualifies a registrant as a bidder. The $500 reserve may remain on the credit card until the next billing statement. This deposit allows a bidder to write a personal or company check without a bank letter. What is the advantage of the $100 registration fee versus the general admission fee? General admission is per person per day. Registered bidders are provided with bidder credentials that allow unlimited attendance to the auction grounds for all days of the event. Registered bidders are allowed one guest to accompany them upon entry to the auction without charge. As a registered bidder, the registered individual and a guest can avoid the general admission entry fees and have better seating right in the auction arena – and with a bidder number, a participant can bid on any items that are crossing the auction block. STANDARD BIDDER I wish to bring a cashier’s check but what happens if I don’t spend the full amount? At the time of settlement, Mecum Auctions will write a check for the difference. The pre-registration deadline has passed, can I still register? Yes. Print and sign the registration form; then pay the registration fee and deposit on-site. Please refer to the chart online located under the “Standard Registration” tab. Does the $100 bidder registration fee apply to the entire auction, or is it a per-day fee? The $100 bidder registration fee applies to the entire auction – it is only paid once per auction. GOLD BIDDER MEMBERSHIP As a Gold Member do I need to register for each auction? Gold Members are always considered registered. Simply bring the Gold Card and present it for entrance to the auction and then swipe it at the bidder desk to receive badges. Is my Gold Membership still active? Gold Memberships expire on the date listed on the front of the Gold Card. If there is no expiration date listed, contact bidding@mecum.com or 262275-5050. What if I lose my Gold Card? Replacement cards can be purchased during non-auction weeks through the home office
for a replacement fee of $25. Contact bidding@mecum.com or 262-275-5050. As a Gold Member how do I register as a Telephone Bidder? As a Gold Member, the registration fee is not charged. A Telephone Absentee Registration form still needs to be completed along with the necessary deposit. For more information on registering as an absentee bidder, please review our absentee registration information located online under the “Telephone Registration” tab, or refer to the front of this guide. AT THE AUCTION I paid $20 at the door, can that amount be refunded or applied to my bidder registration fee if I apply on-site? No. Bidders must meet the pre-registration deadline to receive advance tickets and bypass the initial general admission fee. Can I get green sheets for each day of the auction? Green sheets, or line-lists, are printed for individual days and made available each morning. Visit mecum.com to print line-lists of all lots. Do you have a catalog of all the cars? As the largest collector car auction company in the world, it is not feasible to print a complete catalog. Catalogs are usually printed only for vehicle collections and for select segments at certain auctions. Mecum. com is updated daily, even throughout the auction, with photos and descriptions of auction lots. How do I find a car? Vehicles are located together by auction day (all Thursday cars in one location, etc.). If assistance is needed finding a specific lot number, a Mecum staff member will be happy to help. How can I find out more information about a car? By the time onsite inspection is taking place, the car card is in the vehicle’s window and the Mecum website contain the most up-to-date information Mecum has been provided by the seller. (Prior to the auction itself, interested bidders can call the home office and request that Mecum contact the seller for specific details.) Can I get in the car? Yes. Bidders can respectfully open the doors and sit in the vehicles. Bidders have full inspection rights. Can I start the car? In most cases, Mecum does allow the start of the engine with assistance from either the owner of the vehicle or a Mecum staff member, but there is no room to test drive it. Is there someone who can inspect a vehicle for me? Bidders may have their own third party inspectors look at the car on-site, but this service is not available via Mecum. What time will a car run? Vehicles cross the auction block in
numerical order by lot number. Approximately 30 cars cross the auction block per hour. Is everything on TV? The TV live filming takes place only during scheduled show times and includes commercial breaks, therefore live television will include only a portion of the entire auction. See Mecum.com for specific auction TV times. When is the auction over each day? Auction end times vary per day based on the number of lots and the amount of time it takes each to cross the block. What is Road Art? Road Art comprises the sought after vintage items that people collect to serve as anything from garage-wall art to tangible investments; popular items are gas pumps, signage, brand-specific promotional items and more. How do I actually bid? Raise a hand to one of the Bidders’ assistants – he or she will assist the bidder by relaying the current bid price, what the next bid is, and by signaling new bids placed to the Auctioneer. Can I buy the car and title it in someone else’s name? No. The car will be titled in the registered bidder’s name only. When does the car have to be off the grounds? Typically, vehicle security ends 48 hours after the auction is over. Can I drive the car or do I have to have it shipped? Cars may be driven off the grounds, towed by the buyer or commercially shipped. (The company Mecum has on-site for shipping arrangements is Reliable Carriers, Inc.) Can someone else pick up the car I buy? Yes. Whoever picks up the vehicle must have the Gate Pass in hand. Will I need to come back to register every day, or are my bidder credentials and guest badge good for the whole event? Bidders need to register once per auction event. Bidder credentials and guest badges both act as general admission for every auction day. Can I leave the Auction and still bid? Yes. Before leaving, go to the Bidder Dept. and complete a Telephone Absentee Bidder Form. To be put on the docket and called when the vehicle(s) of interest is crossing the Auction Block. Note: Two things change when becoming an Absentee Bidder. First, the Buyer’s Premium goes up 2%. Second, a check for 20% of maximum potential bid must be provided in advance, (a blank check can also be provided which will leave bidding potential unlimited). Is my bidder credential or Gold Card transferable? No. While guest badges are transferable and can be switched between people, bidder credentials and Gold Cards have buying power and can only be used by the bidder themselves.
DETAILS & REQUIREMENTS Read the Bidder Registration form. It is a legally binding agreement. Buyers must register to bid. Mecum does not accept bids from unregistered bidders. Bidder must sign a form for each individual auction. Even if registered at a previous auction, bidders must repeat the process. (Gold Members only need to bring their Gold Card and swipe it at the registration desk to create their credentials). When purchasing a vehicle, checks must be drawn from a U.S. Bank. If funds are not coming from a U.S. Bank, a wire transfer must be used. (There is a $100 fee for a wire transfer.) Buyer’s Premiums will be automatically added to the final price (hammer price) upon settlement and payable without relief to the Auction Company. BUYER’S PREMIUMS ARE SUBJECT TO CHANGE. Bidders must pay the buyer’s premiums as stated for each auction. These are noted on the Bidder Registration form for each auction. Sales Tax is governed by the state in which the auction is conducted and may be collected at time of payment. Payment is required within one hour of purchase unless other terms have been pre-arranged. The seller will afford every opportunity for the bidder to view all lots prior to sale. However the purchaser must understand that he/she is buying property entirely upon his/her own or his/her agent’s examination and opinion prior to the auction. All lots are sold “AS IS, WHERE IS,” with all faults and defects. Any guarantees written or implied as to the authenticity, originality, or condition of any lot are not the guarantee of the Auction Company, and should be determined by the purchaser’s own inspection and discretion prior to the auction. The information provided by the seller is deemed reliable, but not guaranteed. Vehicle history report services are provided by many companies and are available via the internet. Bidders are responsible for deciding whether or not to purchase a vehicle history report. ALL BIDS ARE FINAL AT AUCTION. There is no “Cooling Off Period.” If awarded the final bid, ownership changes hands at the drop of the gavel. The bidder owns the merchandise and is responsible for payment in full.
WWW.MECUM.COM (262) 275-5050