Auction FAQs
Why should I use Stopol Auctions?
At Stopol Auctions L.L.C., we make buying and selling used equipment simple and secure. All transactions are handled from start-to-finish from the comfort and ease of your PC. Stopol Auctions’ proven track record of results, legacy of success and vast inventory of equipment, provides buyers with unparalleled choices, endless value and peace of mind. Unlike most other equipment brokers who routinely buy and re-sell machinery sight-unseen, Stopol Auctions and its team of plastics processing experts go the extra mile. Stopol Auctions’ roster of knowledgeable machinery professionals actually observe the equipment operating in its working environment and give it a thorough inspection before adding it to Stopol Auctions’ vast inventory. Sellers benefit from low transaction costs, accelerated equipment sales and a global audience of buyers actively targeted by a Stopol Auctions marketing blitz comprised of advertising, direct mail, e-mail, fax and phone campaigns.
Is it safe to use the Stopol Auctions website portal?
The Stopol Auctions website portal on www.stopol.com is safe and secure website. Stopol Auctions uses only the most sound and proven technologies and techniques to ensure the safety and security of the site, as well as the confidentiality of your account. In addition, all users with valid logins are further protected by the site’s internal controls. All maximum bid amounts are encrypted, preventing other site users and even Stopol Auctions’ own administrators from gaining knowledge of them.
How do your auctions work?
At Stopol Auctions, we bring the auction to you. All equipment in our 24/7 Reserve Auctions is available anytime for bidding through the Stopol Auctions website portal. Meanwhile, our Live Auctions and Webcast auctions occur in real time formats, allowing bidders to participate as the event takes place.
The equipment available during specific 24/7 Reserve Auctions change periodically because of our enormous inventory of machinery. If equipment is not sold during a specific auction, it is still available for purchase through the Machine Sales portal on www.stopol.com.
Is there a charge for buying on the Stopol Auctions website portal?
For each piece of equipment, accessory or material bought in a Stopol Auction, the buyer agrees to pay Stopol Auctions a buyer's premium equal to 10% of the auction closing price. Buyer's paying by credit card are assessed an additional 3% processing fee (for a 13% total). Webcast buyers are assessed a 15% buyer's premium (18% if buying by credit card). The buyer's premium must be paid in U.S. dollars and must be paid before the equipment can be released for transport. Some sales are subject to a buyer's premium different from the percents listed above. The buyer also is responsible for any additional costs that may be incurred, such as rigging fees.
What is the cost to sell through the Stopol Auctions website portal?
Sellers are charged a 10% commission fee and are responsible for all applicable taxes.
In addition, those selling equipment on a Webcast or Live auction are assessed a $75 listing fee. Those selling items through a 24/7 Reserve Auction are charged listing fees based on the parameters below:
- A Reserve Price Fee of $25 is charged for Auction listings with a reserve price less than $5,000.
- A Reserve Price Fee of 0.5% of the Reserve Price is levied for each Auction listing with a reserve price between $5,000 and $40,000
- A Reserve Price Fee of $200 is assessed for each Auction listing with a reserve price greater than $40,000.
The Reserve Price is non-refundable and based on the reserve price entered at the time of Equipment Listing. The Reserve Price must be paid before a particular piece of equipment can be placed up for auction.
What payment methods are available to buyers?
Buyers may pay for their purchases through a company check, money order, certified check, wire transfer or credit card.
What credit cards are accepted?
Stopol Auctions accepts Visa, MasterCard and American Express.
How are the fees and commission owed by the seller reconciled with Stopol?
Stopol Auctions deducts both the commission and fees generated by a sale from the winning bid paid by the buyer.
Who is responsible for arranging the transport or rigging of equipment?
Both the buyer and seller are responsible for making arrangements to have equipment transported. Stopol Auctions is happy to provide referrals to buyers and sellers regarding qualified transportation professionals throughout the world.
Who is responsible for transport costs?
The buyer is responsible for any additional costs that may be incurred, such as rigging or transport fees.
Can I place a bid in a foreign currency?
No. All bids and offers must be made in U.S. Dollars. All dollar amounts are listed in U.S. Dollars.
What purchases are subject to sales or use tax?
Retail sales of tangible personal property in most states are generally subject to sales tax. Plastics processing equipment generally is considered tangible personal property. In some instances, retailers must collect a use tax, rather than a 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 typically are the same.
Are sales and use tax rates and regulations the same between and among the different states?
No. Sales tax rates and regulations vary from state to state.
Do all states levy sales and/or use taxes?
No. There are five states that do not have sales/use tax regulations. They are Alaska, New Hampshire, Montana, Oregon and Delaware.
When can I claim a valid exemption from sales and/or use taxes?
- You may be exempt form sales tax is you meet all of the following criteria:
- You are a reseller of like-kind equipment as the equipment you just bought
- You have a valid seller permit form your state
- You have completed the exemption or resale certificate for your state
- You have submitted a bill of lading form a common carrier for shipment of your purchase
What if I can't find what I need? What do I do?
If you can't locate the piece of equipment or item for which you are looking, please click on the Search function on the horizontal menu bar at the top of your screen.
If the piece of equipment you need isn’t available immediately, we will canvass our entire inventory for the item and, if necessary, use our infinite web of industry contacts to locate it and let you know as soon as matching equipment is available.
Where can I get assistance if I need it?
Please contact your local Stopol Auctions account executive or call (440) 498-4000 for assistance.