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Registering with Iron Globe Auctions Ltd. and participating in an Iron Globe
auction is free, however, for each piece of equipment won in an Iron Globe Auctions
Ltd. auction, the buyer must pay a acquisition fee based on the auction closing
prices, as per the schedule below:
| Auction Closing Prices |
Acquisition Fees (%
of the final price) |
| $1 to $4999 |
5% |
| $5000 to $24999 |
3% |
| $25000 and over |
$750 |
BUYER DEFAULT CHARGE: If a buyer has the winning
bid in any Iron Globe Auctions Ltd. auction and fails to complete the purchase
for any reason, then the winning bidder must pay a buyer default
charge for each individual piece that he fails to purchase, based
on the following auction prices:
- Buyer default charge of $2,500 for each unit with an auction
closing price
between $1 and $25,000.
- Buyer default charge of $2,500 plus 5% of the final sale price
for each unit with an auction closing price above $25,000.
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