Sorry, this is usually difficult to arrange due to the distribution of equipment at the time of sale.
Our independent inspections provide detailed in-depth reports on the condition of the equipment. This is backed up by our 'IronClad Guarantee' which lets you bid with confidence, even without needing to see the equipment yourself.
While most items are sold at our weekly Featured Auctions, equipment is also sold directly by the owner. These owner auctions usually last 7 days and the closing time may be on any day. Owner auctions may have a reserve price.
Retail sales of tangible personal property in most states are generally subject to sales tax. Construction equipment is generally considered tangible personal property.
In some instances, retailers must collect use tax, rather than sales tax. A common example of a purchase subject to the use tax is a purchase of an item for use in California from an out-of-state retailer. The tax rate for sales and use taxes are generally the same.
The Checkout process creates an easier more stream-lined auction experience for our buyers. This process will automatically modify your Invoice for your tax exemption status and adjust sales tax for an out-of-state or foreign delivery destination.
There are two important pieces of information that you will need to complete your Checkout process successfully:
Your sales tax exemption number, if you believe your are exempt from sales tax.
Your City / State / Zip Code delivery address / equipment destination
Buyers exporting equipment will also be asked to declare their US port of export.
If your resale certificate is already on file for your equipment destination state, your resale exemption number will pop-up automatically during Checkout. If your resale certificate is not on file, you will need to provide a copy of your resale certificate using the bar-coded fax form provided for your convenience. You can print this fax form during Checkout and from the Post Sale page.
If you have your tax exemption status and equipment delivery address available before you start Checkout, the process should take you less than five (5) minutes.
You will be able to make changes to your Checkout information up to three (3) business days after the auction. However, if you have completed Checkout and made full payment, you will not be able to modify the Checkout information yourself. You will need to speak with one of our customer care agents to make any modifications to your Checkout.
During the Checkout process you will be asked if you want to receive transportation quotes for your purchase. You will receive an email notifying you when a carrier has provided a quote. You can view the quotes from your Post Sale page.
If you don't know your delivery destination immediately after the auction, you have up to three (3) business days to complete the Checkout process and make full payment. Equipment must be moved from the seller's yard eight (8) business days after the auction.
To be able to exempt your purchase from sales tax in the equipment pick-up location state, you must provide evidence that you have moved this equipment by common carrier to another state or exported it out of the US.
In the US, each state has their individual sales tax regulations. The domestic Bill of Lading (using a common carrier) exempts your purchase from being taxed in the pick-up location state. This Bill of Lading proves that you did not take possession of or use the equipment in the pick-up location state prior to transporting it to your port of export.
If you are unable to submit your Bill of Lading and proof of export within 60 days, you will be required to pay sales tax on any future purchases - until the outstanding documents are received. If future purchases are exported, IronPlanet will refund the sales tax within sixty (60) days of the auction sale. You will need to provide IronPlanet a domestic Bill of Lading showing the City / State equipment pick-up location and Export documents that include the US port of export and the final delivery destination. IronPlanet will not process refund requests received beyond (60) sixty-days after auction. After the sixty-day period, the buyer may request a sales tax refund directly from the State where taxes were paid. IronPlanet cannot apply for state sales tax refunds on behalf of buyers. Buyers must work directly with the relevant state.
Purchasing over the Internet does not exempt you from the payment of sales /use tax. If you have equipment transported to another state for personal use or for use in your business, this equipment may be subject to state and local sales/use tax based on the laws of your delivery destination state.
Once you have received and accepted your purchase (officially called constructive receipt), the title will automatically be sent to you via five (5) day DHL ground transportation or a similar service.
You should locate your DHL title tracking number from the email you receive when your title is sent. You can also find your DHL tracking number on the equipment "Post Sale" page. Once you have your DHL tracking number please query DHL as to your title status and delivery schedule. If all else fails, contract IronPlanet's Customer Care at 888-433-5426.
IronPlanet provides buyers with a transferable title but we do not generally provide registration services. However, as a California Vehicle Dealer, IronPlanet does offer registration services for vehicles bought and sold within California through the California Department of Motor Vehicles (DMV).
You will be assessed the DMV prescribed license and transfer fees and taxes applicable to your purchased vehicle. You will also be charged a Dealer document preparation fee of $45 as provided by the California Vehicle Code.
Yes, you can register your vehicle directly with the California DMV. As a California Vehicle Dealer, IronPlanet will ask you to complete a Statement of Fact indicating your reason for registering your vehicle directly with DMV. This Statement of Fact is forwarded to the DMV in Sacramento.
After you have accepted your vehicle purchase, a packet of registration forms will be sent to you along with a postage-paid return envelope. You are to complete the registration documents and return them to IronPlanet using the prepaid return envelope. Your application for registration will be reviewed and submitted to DMV for processing. You will receive your registration card or title directly from the DMV via first class mail.
Current vehicle registration is guaranteed for vehicles sold to California retail buyers. For vehicles bought and sold in other states, IronPlanet will provide a transferable title, but cannot guarantee the vehicle registration is current and not expired.
MSO documents are issued by the manufacturer of New Equipment to provide a record of ownership prior to vehicle registration. IronPlanet does not provide an MSO for Used Equipment where ownership is established by title transfer.
IronPlanet will furnish the Buyer a valid title from the vehicle's registration state. Since, registration requirements differ greatly from state to state you should contact your motor vehicle agency for any special out-of state registration requirements. When possible, IronPlanet can assist the Buyer in obtaining other documents necessary for registration.
State requirements differ, so you should contact your motor vehicle agency for exact requirements in your state. At a minimum you should carry a copy of your paid invoice, insurance card and driver's license. Please be aware, some states do require that you obtain a temporary permit (tags) issued by your motor vehicle agency to transport vehicles on road prior to official title registration.
Yes. If a buyer self-transports equipment from a seller premises in any way other than common carrier, equipment acceptance occurs as soon as you remove the equipment from the seller's premise. If when you arrive for self-transport and the vehicle or equipment is not in the same condition as it appeared in the inspection report, do not remove the equipment prior to calling IronPlanet's Customer Care.
The Buyer's Company Name is the only name IronPlanet can put on the title. If there is no company name listed, the Registered Buyer's Name will be put on the title. Before the auction closes for an item you're buying, verify and/or submit a change for the Company Name specified for your account by visiting the Edit Profile section of your My Account page.
In the State of California, the Seller/registered owner is responsible for providing the Buyer with evidence of a valid smog certificate. Smog certificates are good for 90 days from the date of inspection. For more information, refer to the California Department of Motor Vehicles (DMV) website at http://www.dmv.ca.gov.
PriorityBidSM is our system for placing bids during the preview period of an auction. A significant amount of all bidding in our auctions occurs with PriorityBids; more than 70% of items typically have bids on them before auction day. Because they are placed during preview, PriorityBids have a delayed effect on the price of an item: the price does not change until the auction opens. There are several advantages of using PriorityBids:
You do not have to be at your computer on auction day. When you place a PriorityBid, you specify the maximum you are willing to pay for an item. You will be told immediately if yours is the highest bid placed so far, but you will not know how much of your bid amount remains to protect you from later bidders. Your bid amount is confidential and our auction software will keep you in the lead against competitive bids through the preview and on auction day or until your maximum amount is exceeded. If you get outbid by another PriorityBid, an automatic email will immediately be sent to you.
You can win the item for less than your maximum amount. In our style of auctions, the price the winner pays is determined by the price the runner-up was willing to pay. The final price is never more than one bid increment greater than the next-highest bid. So, if you have little competition, you can win an item for less than your maximum amount. We recommend you determine your "no regrets" price—the price at which, if someone else were to win, you would not regret the outcome—and then bid one increment below that.
Bidding early helps ensure that you are the winner. When competing PriorityBids are placed for the same amount, the earliest bid takes precedence (it has Priority at that price), so submitting your bid early gives you an advantage. You can place a PriorityBid online any time day or night, or by fax during our Customer Care hours.
Freedom to keep an eye out for other bargains. PriorityBids give you the freedom to browse and track other items on auction day without worrying about your "must-have" items. Our system acts as your assistant, constantly monitoring your PriorityBids and keeping you in the lead until the price goes beyond your designated maximum bid amount.
As auction day approaches, you can check the status of your PriorityBids in the Buying List of My Account. Make sure your email address and notification settings are correct in My Account Profile so that you can receive outbid notification emails. Before even being outbid, you can increase the maximum on any of your PriorityBids by placing a new PriorityBid on the same item for your new maximum amount (don't worry, you can not outbid yourself). Like all bids, PriorityBids are binding and can not be retracted nor reduced.
Retail sales of tangible personal property in most states are generally subject to sales tax. Construction equipment is generally considered tangible personal property. In some instances, retailers must collect use tax, rather than sales tax. A common example of a purchase subject to the use tax is a purchase of an item for use in California from an out-of-state retailer. The tax rate for sales and use taxes are generally the same.
Beginning January 1, 2004, IronPlanet has discontinued the use of the one-time sales tax exemption form. If you have saved a copy of that form on your computer, please delete it as it will no longer be accepted to make your transaction non-taxable. This form has been replaced by the submission of the appropriate Exemption or Resale Certificate for your state.
If you purchase tangible personal property but intend to resale it yourself, the transaction is not subject to sales or use tax provided the sale is properly documented. As a result, IronPlanet will ask you to provide a Resale Certificate as proof that the property is being purchased for resale.
Resale Certificates apply to a specific item being purchased. The certificate may be in any form, such as a note, letter, or memorandum (for California-related transactions, we have an online Resale Certificate for your use). A new Resale Certificate is required for each purchase. The certificate must contain the following information:
The name and address of the purchaser.
The number of the Reseller's Permit held by the purchaser (see Note below).
A description (including serial number or VIN) of the specific property being purchased.
A statement that the described property is being purchased for resale.
The certificate must contain words that state the property will be resold or is for resale. The use of words such as "nontaxable" or "exempt" or similar terms is not acceptable.
Signature of the purchaser or someone approved to act on his or her behalf.
While most states require a Resale Certificate, not all states require a Seller's Permit. If you are a purchaser who is not required to hold a Seller's Permit but wish to make a purchase using a Resale Certificate, you must indicate on the Resale Certificate that you do not hold a Seller's Permit and why a permit is not required.
Some states, such as California, require a Seller's Permit; buyers from such states must always supply a Seller's Permit number on their Resale Certificates.
You should not use a Resale Certificate if there is any question whether you will resell the property. There may be times when you are not sure whether the items you are purchasing are for resale or for personal use. In such cases, you should pay sales tax to IronPlanet. If, at a later date, you resell the item before making use of it, you can take a deduction on the tax return on which you report the sale.
For those states that require Resale Certificates, to support an exemption from the application of sales tax on purchases of tangible personal property, you can usually download forms from the website that supports your particular state's Department of Taxation or Bureau of Equalization.
Some states, such as California, require that an out-of-state buyer provide a Bill of Lading showing that the property was transported out-of-state by common carrier prior to its use.
You may be liable for sales tax--even if your purchase is for resale--if you self-transport your purchase across state lines rather than use a common carrier. This is the case for all equipment located in California, as one example. Unless a Bill of Lading is provided to show that a Common Carrier transported your purchase out of the state from which it was purchased, you are required to pay sales tax in that state, regardless of your resale intentions.
Yes. It is considered a misdemeanor in many states to issue a Resale Certificate to evade payment of tax. Typically, each offense is punishable by a fine or imprisonment for up to one year in county jail, or both. If you give a Resale Certificate to purchase property that you know at the time will not be resold in the regular course of business, you can expect:
Liability for the amount of tax due had the certificate not been used; and
Liability for Interest payments on the tax due; and
Penalties imposed by your state for intent to fraud or intent to evade tax; and
California resellers can submit to IronPlanet a completed California Resale Certificate, with their Seller's Permit Number. Each item purchased requires its own Resale Certificate, which is available on our website upon the completion of the auction for an item. Each certificate will include instructions to print, sign and where to fax it to us.
No. Only California retailers who have registered with the State of California and obtained a Seller's Permit can use the California Resale Certificate.
You will find the required form(s) at the California State Board of Equalization website. Complete the documentation that applies to your situation and fax it to IronPlanet at 925-225-8620 immediately after notification of being the successful winner of equipment on which you have bid.
Since you are not a California reseller, IronPlanet initially will have to charge sales tax on your purchase. After you submit either a Bill of Lading or export documents that clearly substantiate that your purchased equipment has reached a destination outside of California, your sales tax deposit will be 100% refunded. Fax your Bill of Lading or export documents with the six-digit IronPlanet Item number to our dedicated fax number 925-225-8620.
Initially, yes, but only as a temporary deposit until the equipment leaves the state. At the time of purchase, you will have to deposit 100% of the applicable California sales tax to IronPlanet. If you use a common carrier to transport the equipment out of California you can will get a full refund of your sales tax deposit after submitting a completed Bill of Lading showing the equipment pickup location and destination.
Wire transfer refunds will be processed within 24 hours (one business day) after IronPlanet receives the Bill of Lading, Resale Certificate, and your wire transfer instructions. Refunds requested paid by company check can take up to 5 business days prior to mailing.
California does not accept out-of-state Seller's Permit or Resale Certificates as valid documentation of a nontaxable transaction. Only by providing IronPlanet a Bill of Lading showing the equipment moved to a destination outside California can your purchase of equipment located in California be considered nontaxable.
Initially, yes, but only as a temporary deposit. At the time of purchase, you will have to deposit 100% of the sales tax for the other state with IronPlanet. To avoid owing that tax and to get your deposit refunded, you must use a common carrier and move the purchased equipment to a destination within California. Provide IronPlanet both a California Resale Certificate for the purchase and a Bill of Lading from the common carrier and your sales tax will be refunded.
No. The seller is not required to load any piece of equipment or attachment into a container. The buyer must make arrangements for loading into containers with the buyer's transportation company.
The seller is not required to dismantle any part of equipment for transportation. However, some sellers or storing agents may offer their services for dismantling for an additional fee. The buyer must make the request with the seller or storing agent. Contact information for the seller will be provided once IronPlanet has received full payment for item(s) purchased. Any additional fees will have to be negotiated and paid to the seller or storing agent. IronPlanet will take no part in arranging dismantling unless otherwise stated on our website.
IronPlanet cannot provide additional dimensions and/or specifications on equipment above that which is provided in our inspection reports. Buyers may obtain dimensions and/or specifications by contacting the original equipment manufacturer, or visiting the manufacturer's website, contacting dealers in your area or doing your own search on the Internet. A buyer should work with their transportation company to review common references for dimensions. The seller may choose to assist you with additional information, but remember, the seller is not required to provide any additional information about the equipment.
IronPlanet will provide you with the seller's contact information once you have made full payment. You can also find this information, after full payment is made, on our website by accessing the Transportation Authorization link located in the Post Sale Info page for that item.
The buyer must remove the equipment from Seller's premises no later than eight (8) business days after the auction closes. After the 8th business day, the seller is allowed to charge the buyer storage fees. After thirty (30) days, the equipment may be deemed abandoned and re-sold with all storage fees and full commissions deducted from proceeds. (Please refer to our Full Length Terms and Conditions: section V. Completion of Transactions under Buyer Removal of Equipment for additional information)
To become a Qualified Buyer at IronPlanet in advance of bidding in an auction, IronPlanet requires all buyers from outside the United States or Canada to wire a $2,000 US deposit to receive auction-bidding privileges. If you do not win an item in the auction, the money will remain on deposit with IronPlanet as long as a Buyer wishes to retain auction-bidding privileges. A Buyer may request the return of their deposit from IronPlanet at any time via email. Please note that the deposit will be refunded to the same person/company who sent the deposit. Additionally, please click on the link below, then click on Buyer Qualification Form-International, to complete the form and fax it back to: 1-925-225-8610.
IronPlanet has available to our buyers through our third party Transportation Partners a list of transportation companies that will assist in overseas shipping. Many of these companies will also provide you with non-binding transportation estimates before the auction and after the auction. Transportation is the responsibility of the buyer, IronPlanet itself does not coordinate or transport equipment. Please contact us if you are interested in receiving more information on transportation.
In addition to the bid amount, you will be responsible for the transaction fee and any applicable state and local sales taxes. Please see Terms and Fees for more information. http://www.ironplanet.com/jsp/s/howto/howtoBuy.html?id=21
Additionally, you will be responsible for the full cost of transportation payable directly to the company you hire to transport the equipment.
Full payment is due to IronPlanet within 3 business days after the auction. You will need to complete our Checkout Process immediately after the auction in order to print an Invoice which correctly recognizes your tax exemption status and delivery destination. Your Invoice will be available to you when you complete the Checkout Process. You will be able to access your Invoice anytime after Checkout by using the Invoice link located in the Post Sale Info page for that item.
Any items not paid within terms will be considered in default and the buyer will be subject to a "Default Penalty" equal to any deficit that may occur when the item is resold plus a 14% commission on the resale price with a minimum fee of $2,000. This fee will be applied separately to each individual unit on which the winning bidder defaults. Please ensure your financing is arranged prior to bidding to ensure that the full payment will be received on time and to avoid any Default Penalties.
If the item you purchase is for export, you will need to complete our Checkout Process after the sale and indicate the port of export and foreign delivery address. Sales tax will not be charged on your Invoice providing you subsequently fax us the final domestic Bill of Lading showing the City / State of the equipment pickup location and Export documents that include the US port of export and the final delivery destination. The Bill of Lading and export documents must also include a description of the equipment including serial number. All documents must be submitted to IronPlanet within 60 days of the auction.
In order to refund sales tax within sixty (60) days of auction sale, you will need to provide IronPlanet a domestic Bill of Lading showing the City / State equipment pick-up location and Export documents that include the US port of export and the final delivery destination. IronPlanet will not process refund requests received beyond (60) sixty days after auction. After the sixty-day period, the buyer may request a sales tax refund directly from the State where taxes were paid. IronPlanet cannot apply for state sales tax refunds on behalf of buyers. Buyers must work directly with the cognizant state.
When submitting a request for a tax refund, please provide your Bank wiring instructions including:
The buyer is responsible to arrange transportation and complete any required paperwork for customs. Please contact a customs broker or freight forwarder regarding exact requirements for exporting. As part of our service to the buyer, IronPlanet can provide you with a list of freight forwarders or customs brokers. For an all-inclusive, point-to-point international quote, including transportation logistics, equipment cleaning and customs brokerage, contact JB Hunt at +1-866-331-8510 or ironplanet@jbhunt.com.
The buyer is responsible to arrange transportation. IronPlanet can provide you with a list of freight forwarders or customs brokers prior to the auction. After the auction, you will be able to request transportation quotes from our Transportation Partners directly through the IronPlanet website.
Our terms and conditions state that the buyer must remove the equipment from Seller's premises no later than eight (8) business days after the auction closes. After the 8th business day, the seller is allowed to charge the buyer storage fees. If you leave your equipment on the seller's yard without his consent, after thirty (30) days the equipment may be deemed abandoned and re-sold with all storage fees and full commissions deducted from the proceeds of sale. If you are unable to provide documentation of export within 60 days, IronPlanet will not waive sales tax on any future purchases until all outstanding Bill of Lading and/or Export documents are received.
The term "Tax Free exchange" is a reference to Internal Revenue Code Section 1031. This section of the law allows taxpayers to trade one piece of property for another without paying federal income taxes on the transaction provided certain qualifications (discussed below) are met. To put it another way, a taxpayer selling an old piece of property is able to defer the federal income taxes that they would have paid on the sale of that old property into the purchase of new property if they follow the rules of the code section.
The advantage of using a Tax Free exchange is the deferral of the tax. This allows a taxpayer to have more cash available to invest in the replacement property. For example, if the taxpayer is selling a piece of equipment that has a $20,000 gain and is in a 30% federal tax bracket, the taxpayer has approximately $4,500 ($20,000 @ 30% less fees related to the exchange) more cash to invest in the replacement property since the taxes are deferred until the replacement property is sold. In terms of state tax, some states have full conformity with federal income tax law while other states do not. You will need to look at the specific state you are concerned with to answer that question.
The Code does have specific time sensitive deadlines that MUST be respected as well as specific restrictions on how the sales proceeds must be handled. That is why you need a Qualified Intermediary to assist with the transaction. A sale and a reinvestment in replacement property can be converted into a Tax Free exchange by means of an exchange agreement and the services of a Qualified Intermediary.
IronPlanet will work with any qualified intermediary to help our customers benefit from a Tax Free Exchange. If you need a recommendation for an intermediary, contact IronPlanet Customer Care at 888-433-5426
A "Qualified Intermediary" conducts the Tax Free exchange. Internal Revenue Code regulations contain a very specific definition of a Qualified Intermediary. The Qualified Intermediary is bonded and holds money from the sale of an asset in a bank trust account on the behalf of the client until the client has found replacement property within the set time limits. The Qualified Intermediary will then complete the transaction for the client and will use the funds in the trust account to pay for the replacement property.
In most cases, yes. This would be a "reverse exchange". As long as the requirements of Internal Revenue Code Section 1031 are satisfied, especially with regards to timing and money flow, 1031 Exchanges can be either a forward exchange (sell then buy) or a reverse exchange (buy then sell).
There is a time limit in within which the sale and purchase must be completed for the transaction to qualify for a Tax Free exchange. It is important to start the process right away to take advantage of the timing issues and to be fully eligible under Code 1031.
A Qualified Intermediary will charge a service fee dependent upon the complexity of the transaction. The complexity is determined by several factors including the number of pieces of property involved, the size of the transaction and the level of assurance you require.
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