I'll be going to my first machinery auction next week. I have a fairly good idea about how much used machines cost, and I think I'm disciplined enough to avoid getting swept up in a round of bidding. So I'm not worried about getting ripped off. However, I don't want to make a fool out of myself, nor do I want to be the newbie that gets in everybody's way.
Can anyone suggest some things that I should do, or shouldn't do, that may not be obvious?
If a buy a large machine, do I have to take it with me that day or can I come back for it the next day?
When they say "Buyers and Riggers of large machines must provide the Auctioneer with a Certificate of Insurance in the amount of $1,000,000.00 prior to removal." does that rule out hiring a flatbed tow truck?
Also, when they say "10% BUYERS PREMIUM IS IN EFFECT FOR THIS SALE. " does that mean I pay whatever the winning bid is, plus sales tax, plus an additional 10% ?
Here's the link in case anyone is curious: