Buyer fees & taxes

Transaction Fee - Registering with IronPlanet and participating in auctions are free. For each item won in an IronPlanet Auction, the Buyer must pay a transaction fee. The amount of this fee is based on the final selling price and is detailed on the Payment tab of the listing page for each item.

 

Penalty for Default - If the winning bidder fails to complete the transaction for any reason, they must pay a penalty ("Default Payment") based on the auction closing price of the item:

Auction Closing Price Penalty for Default
1 to  2,000 400
2,001  to  8,000 1,200
8,001  to  20,000 2,000
20,001 to  40,000 3,000
40,001  to  80,000 4,000
Above  80,000 5,000

If a bidder defaults on multiple items in the same auction the auction closing prices of the defaulted items will be added together to determine the applicable default payment.

Unless and until all default penalties are paid in full a customer will be prohibited from bidding in our auctions. IronPlanet unilaterally reserves the right to prohibit participation on our site at anytime.

Taxes

All items sold on IronPlanet are VAT exclusive and VAT will be added on to the final sale price and transaction fee of each item after the auction successfully closes. Buyers are responsible for any applicable Stamp Duty Taxes.

 

 

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