- How do I register?
- What privileges do I receive by registering?
- Why do I need to register?
- What fees must be paid along with a registration?
- What are the deposit requirements?
- Are deposits refundable?
- How do I pay?
- What payment methods do you accept for buyers located overseas?
- Wire transfers
- What is your address?
- What does it cost me to buy on AuctionXM.com?
- What is an Export Brokerage Fee?
- When is my payment due?
- Is there a penalty if I don't make my payment on time?
- Which currencies do you accept?
- How do I check the status of my payment?
- How long does it take for a payment to clear?
- How do I place a bid?
- How can I automatically increase my bid? What is Proxy Bidding?
- How do I know if I've been outbid?
- How do I know if I've won the auction?
- How can I cancel a bid?
- I am a new/first time buyer on AuctionXM.com, and I have already won 1 vehicle. Why can't I place a bid on any additional cars?
- I am a new client on AuctionXM.com, and I can only place one bid at a time. Why is this?
- Who is responsible for shipping and/or shipping costs?
- How do I get a shipping estimate?
- Are there any extra shipping charges?
- How do I check the status of my shipment?
- Can you ship to my country?
- Can I insure my vehicle during transportation?
- How often are new vehicles added to the AuctionXM site?
- How are the vehicles selected to be on AuctionXM?
- Who determines the sale price of the vehicles?
- Is the price of the vehicle negotiable?
- How will I know where the vehicles are located?
- Condition Grading Scale - what does it mean? How to read these grades?
- Can I see the vehicles I am interested in bidding on?
- How can I find the history of the registrations, accidents and branding of any vehicle?
- What if the vehicle is not in the condition advertised?
- When will I receive confirmation for purchased vehicles?
- Does the auction charge the buyer a fee in the purchase of a vehicle?
REGISTRATION How do I register? Back to Top
208 Registering as a buyer on AuctionXM is very easy. First read all of the information about AuctionXM and feel confident about our services. If you're ready to register, now, simply click here
to complete the new member registration application. If you need a little more time you can click on Registration on the main pages later. As soon as the registration forms are complete submit them. An email will be sent to the address on the registration form asking you to verify the information and confirm your registration. One click of the mouse and the message will reach us that you wish to continue the registration procedure. Within 72 hours you will be informed by email of your successful registration.
** Be sure to register in the name that you would like the paperwork completed in. Once there is a purchase on an account the name on the account cannot be changed. If an account does not have a purchase on it yet, the name can be changed for a fee of $150 and an updated passport copy.What privileges do I receive by registering? Back to Top
When the registration is complete, you will receive a password by email that will allow access to search for any North American automobile in our database. If you wish to buy a vehicle the registration is mandatory. Delivery services can also be arranged if you're a member.Why do I need to register? Back to Top
Buyers must register with us because we need to collect information for verification of legitimacy. It is required that we have full knowledge of our clients. This information assists AuctionXM in the release of your vehicle to you at the port of destination. A registration will allow you to buy as many vehicles as you wish. It will also be a fast way for you to arrange delivery.What fees must be paid along with a registration? Back to Top
We do not collect registration fees.What are the deposit requirements? Back to Top
Before any bids or purchases can be made a fully refundable deposit is required to be on file. Our minimum opening deposit is $1500 USD regardless of the purchase price of the vehicle. Deposits can be scaled up from there to meet your purchasing power needs. We reward purchases through AuctionXM by increasing your credit limit as more purchases are made. See the table below.
Are deposits refundable? Back to Top
|Minimum Deposit||Leverage||Credit Line|
All deposits are refundable upon request. Deposit refunds are subject to a processing fee of $50. After deposit refund request, funds will be processed within 10 working days.
PAYMENT How do I pay? Back to Top
If you are the winning bidder of the auction of a vehicle, as soon as the auction is closed you will receive an e-mail notification with payment instructions.What payment methods do you accept for buyers located overseas? Back to Top
All international buyers must pay by wire transfer. Please be advised payments made by DIRECT DEPOSIT to our bank account will NOT be accepted. Any payments made in this manner will be subject to a 14 day hold for clearing by our bank, and you will be held responsible for all penalties incurred if payment is made in this manner and not applied to a purchased vehicle.Wire transfers Back to Top
A wire transfer is an electronic payment service for transferring funds by wire from one bank account to another bank account. This is the fastest and easiest method of payment. Once your auction has ended and you are the confirmed winner, we will send you an email with all of the relevant wire transfer account information for your transaction. Bank wire transfer
This email will include the name of our bank, the account number, and the transaction information needed to perform a wire transfer. Be sure to print out this email and bring it with you to your bank. Go to a branch office of your bank. Most banks require you to set up wire transfers by going into your local branch office as a fraud protection measure. Be prepared with the following on hand:
- Picture ID.
- Name of bank transferring funds to.
- Account number transferring funds to.
- Transaction Number for the Auction.
- ABA Routing number of account transferring funds to.
- (or) Printout of the Wire Authorization form.
Speak with a bank representative to set up wire transfer. Make all transfers prior to 2pm for processing to occur on the same business day.
We will send you an email notification once your payment has been processed . In the meantime, you can check the status of your transaction online by going to Dealer Section section on AuctionXM.com.What is your address? Back to Top
AuctionXMWhat does it cost me to buy on AuctionXM.com? Back to Top
595 ROSWELL ST
Marietta, GA 30060
As a winning bidder, you pay the final auction price, auction buyer fee, and export brokerage fee, which are collected by us prior to the vehicle being shipped from the auction location. There is also a charge for title shipment from us to your shipping agent, which is generally $50 USD.What is an Export Brokerage Fee? Back to Top
An Export Brokerage Fee is a standard fee that helps cover the cost associated with sourcing products, marketing auctions, running the marketplace and managing services such as payment collection, fulfillment and export documentation preparation for your vehicle . Unless otherwise stated in the auction, our standard buyer's Export Brokerage Fee is 250 USD regardless of the final auction price.When is my payment due? Back to Top
Payment must be received by AuctionXM within 5 calendar days of the winning bid to avoid any penalty and/or cancelation. This payment includes the full amount of the winning bid, the buyer’s auction fee and the export brokerage fee.Remember! The auction has the right to void any transaction.PLEASE NOTE: If we do not receive your payment within 10 days of the sale date, we reserve the right seize your deposit and re-sell your vehicle.Is there a penalty if I don't make my payment on time? Back to Top
If the entire invoice amount is not received by AuctionXM within 5 calendar days from the date of purchase, a late fee of the greater of $200 or 2% of purchase price will apply on Day 6. Which currencies do you accept? Back to Top
Currently, we only accept payment in U.S. Dollars.How do I check the status of my payment? Back to Top
We will notify you via email as soon as your payment has cleared. You can also check the status of your payment online in the Dealer Section on AuctionXM.com.How long does it take for a payment to clear? Back to Top
Wire transfers will be posted to your AuctionXM.com account within 1 hour of processing.
BIDDING How do I place a bid? Back to Top
Place your bid by entering your maximum bid amount in the "Your Proxy Bid" box on any auction view page. Once you click "Bid", we will ask you to login. After you have entered this information, the system will display a confirmation screen with all your desired bids, allowing you to verify your information before you click on "Confirm Bid".How can I automatically increase my bid? What is Proxy Bidding? Back to Top
You will use Proxy Bidding to automatically bid for you. To use this feature, enter your maximum bid amount (highest bid that you are willing to pay) into the bid box on the auction page. Our system will record your "maximum bid" amount and place a bid at the current LOWEST minimum bid. If another bidder bids higher than your LOWEST minimum bid, the system will automatically place another bid for you. You will therefore again be the current winning bidder. On your behalf, the proxy bidding system will continue to make smallest bids necessary to maintain you as the winning bidder until you are the winner of the auction or until another bidder bids higher than your maximum allowable proxy bid amount. Proxy bids are completely private and are never displayed to other bidders or auctioneer.How do I know if I've been outbid? Back to Top
You will receive an email notifying you that someone has outbid your highest bid price. If the auction is still open, you will have a chance to place a new bid or proxy bid by going back to the auction page or by logging into Dealer Section.How do I know if I've won the auction? Back to Top
After you have won the auction, you will receive an email notification with payment instructions. Once we receive and process your payment, we will notify you and instruct auction to prepare your vehicle for pick up and/or delivery to the shipping address on file.How can I cancel a bid? Back to Top
A bid is a binding contract. Once the bid has been placed, it cannot be lowered, cancelled or retracted.I am a new/first time buyer on AuctionXM.com, and I have already won 1 vehicle. Why can't I place a bid on any additional cars? Back to Top
It is our policy to allow first time buyers to have no more than one (1) outstanding transactions that require payment. Once all outstanding transactions have been paid, you are free to continue bidding until you win an additional auction. As soon as your first transaction is complete, you will be able to bid again. A completed transaction is one that has been paid in full.I am a new client on AuctionXM.com, and I can only place one bid at a time. Why is this? Back to Top
It is our policy to only allow new clients to have one outstanding bid at a time. This means that once you place your first bid, you will be blocked from placing further bids. This block will remain in effect from the time you place the bid until the auction you bid on is complete. If you do not win the bid, then you may place another bid. If you win, you will also face a restriction (see details
). This procedure is only for new clients. Once you have completed one transaction, this restriction will be removed from your account. A completed transaction is one that has been paid in full.
SHIPPING Who is responsible for shipping and/or shipping costs? Back to Top
The buyer is responsible for all shipments. AuctionXM can help arrange shipping through our shipping partner, who can place marine insurance for cars ( optional ) at a premium of 1% (.01) of declared invoice value.How do I get a shipping estimate? Back to Top
Shipping estimates (land transport from the auction to US exit port and ocean transport to destination port) are displayed with every car - please only choose country and destination port.Note:
Shipping estimates are provided by third party as a guide only, and are subject to change based on rates charged by carriers.Are there any extra shipping charges? Back to Top
No. There are no extra transportation charges. The only extra charges may be for the courier of the original title to US customs and back and the courier of the original title to destination ( if required ). There may be a wire transfer fee for the payment of freight.How do I check the status of my shipment? Back to Top
Every client receives access and password to the shipping website https://auctionxm.com/lo/login
where you will find the following information/dates: car ready for transport, scheduled pick up from auction, confirmation of pick up, delivery to the port/warehouse, loading, estimated sailing, confirmation of sailing, freight invoice, container number, vessel name & voyage number and destination agent.Can you ship to my country? Back to Top
All countries are not treated the same way because of differences in national security, foreign policy considerations and Federal Regulations. Cars can not be shipped to the following countries:
Can I insure my vehicle during transportation? Back to Top
- North Korea
Yes, after purchasing a vehicle you may purchase insurance to cover the ocean transport phase of the shipping process. This insurance can be placed at 0.9% of the vehicle value. This insurance covers both damage and total loss.
OTHER QUESTIONS How often are new vehicles added to the AuctionXM site? Back to Top
The AuctionXM website is updated daily.How are the vehicles selected to be on AuctionXM? Back to Top
The manufacturer or seller determines which vehicles will be placed on the AuctionXM. AuctionXM vehicles come from commercial sellers, such as manufacturers, leasing companies, financial institutions, and rental companies. Large and medium-sized dealer consignors and wholesalers may place their vehicles in the AuctionXM inventory.Who determines the sale price of the vehicles? Back to Top
The seller determines the price at which he wishes to sell the vehicle.Is the price of the vehicle negotiable? Back to Top
No. AuctionXM vehicle prices are not negotiable.How will I know where the vehicles are located? Back to Top
When a vehicle is purchased you will know all of the information about that vehicle. Invoices will be issued and location revealed. Note that when doing a basic search of a vehicle, the actual transportation costs through the port of New Jersey will be stated. Keep this cost in mind when purchasing a vehicle.Condition Grading Scale - what does it mean? How to read these grades? Back to Top
Can I see the vehicles I am interested in bidding on? Back to Top
- Grade 5 - Vehicle in excellent condition
- Grade 4 - Vehicle is better than average
- Grade 3 - Normal wear and tear
- Grade 2 - Shows signs of excessive wear and tear
- Grade 1 - Shows signs of severe abuse
- Grade 0 - Vehicle is inoperative
No, this is not normally possible. Pictures are available usually for a particular vehicle. In some locations it may be possible to purchase additional pictures.How can I find the history of the registrations, accidents and branding of any vehicle? Back to Top
As a registered dealer you may access to the complete history of the vehicle from the day it was first sold after manufacture. This information is very comprehensive. It includes all registrations, accidents and the status(branding and salvage) of the vehicle.What if the vehicle is not in the condition advertised? Back to Top
We suggest that before you purchase a vehicle that you are certain of the options and condition of the vehicle. This is very precise and documentation will be needed if the vehicle is not as described. You would contact AuctionXM on all arbitration issues. As in the traditional auction sale, all buyers have the right to arbitrate a vehicle purchase if expectations are not met. A vehicle condition report is performed on every AuctionXM vehicle. Additional images on vehicle damage are accessible. Minor scratches and dents are described in full detail. We suggest that before you purchase a vehicle that you are certain of the options and condition of the vehicle.When will I receive confirmation for purchased vehicles? Back to Top
When a vehicle is purchased you will know all of the information about that vehicle. Invoices will be issued and location revealed. Note that when doing a basic search of a vehicle, the actual transportation costs through the port of New Jersey will be stated. Keep this cost in mind when purchasing a vehicle.Does the auction charge the buyer a fee in the purchase of a vehicle? Back to Top
The auction charges both the buyer and the seller and those fees that the auction charges for your purchase will be included on your invoice. These fees range from US$200-600 depending on the cost of the vehicle and the popularity of the auction. Each auction has different rates.