Midwest Racer’s Auction Terms INFORMATION FOR ALL AUCTIONS: The trade show opens first thing each morning and will remain open thru the prime time sale. Whether you’re looking for team uniforms, shock absorbers, a complete engine, new chassis or just tips to improve your racing operation, you’ll find what you need at these trade shows. The admission to the trade show is included in your admission to the auction sale. Arrive early and stay late! Arrive early, sign-up for a free bidder’s card and pick-up a free catalog. All items (lots) are numbered and displayed so you can inspect them before the bidding starts. Bring lots of cash so you are ready to buy through the auction and from the many trade show exhibitors who will have displays. And be sure to bring a truck and trailer big enough to haul your purchases home. Applicable state sales tax will be charged. All Auction Sales Terms and Conditions – Each auction requires CASH, cashiers check or travelers check. Personal and Business Checks will not be accepted. VISA and MasterCard are accepted. There is a 5% buyers premium on all sales. There is a 5% discount on all cash sales. Please come financially prepared to settle for your purchases. Applicable state sales tax will be charged. AUCTION COMMISSION SCHEDULE Sale Price…………………………………………Commission $4001 or More …………………………………………………3% $2501 to $4000………………………………………………..5% $1001 to $2500………………………………………………10% $501 to $1000………………………………………………..12% $101 to $500………………………………………………….15% $20 to $100……………………………………………………20% Under $20, Minimum commission is $4.00. Minimum commission on T-Lot (Tires) is $10.00. Minimum commission on C-Lot (Cars, etc.) is $25.00. All items, once consigned, may not leave the building until it has been auctioned and paid for. The amount shown in the above schedule will be deducted from the final sale price on each lot number and the balance will be mailed to the seller within five days following the conclusion of this auction. Minimum Reserve (minimum $ amount your item will sell for) On Any Item is $300 (No-sale fee must be paid at check-in) $300-$999 Reserve……………………………………………..$50 No-Sale Fee $1000-$2499 Plus Reserve…………………………………..$75 No-Sale Fee $2500 Plus Reserve…………………………………………..$100 No-Sale Fee The No-Sale Fee is retained if your item does not sell for the desired amount. The No-Sale Fee pre-paid is applied towards commission earnings if it does sell over your minimum amount.