Heavy Salvage

Selling

How Do I Get Started?

The first step toward selling with HeavySalvage.com is registration. In order to list your transportation salvage on HeavySalvage.com, we must gather basic contact information so that we can communicate directly with you, the seller.

What Fees Do You Charge Sellers?

There are no seller fees with our standard program as long as a HeavySalvage.com bidder is awarded the salvage. Sellers must pay a $75 fee only if the salvage is not sold to the HeavySalvage.com bidder. Winning buyers, however, must pay either a $50 or a $200 (subject to change) fee to HeavySalvage.com. HeavySalvage.com also offers a Specialized Salvage program. With this program, a seller fee of 8% of the high bid is applied. This is for unique salvage pieces that need extra attention to attract the right buyers. Feel free to contact us for additional details about the Specialized Salvage program.

How Does Bidding Work?

Approved buyers place bids for each salvage item directly through the HeavySalvage.com site, by fax, by email, or by phone. Bids can be viewed live through the seller’s account. Within the seller’s account, winning bids can be easily selected or rejected for each piece of salvage listed. Each bid listed has a button that allows the insurance company to select if the bid is chosen as the winning bid. All bids are submitted in US Dollars.

How Long Do I Have to Select a Winning Bid?

Once bidding is closed, the buyer must honor their bid for 25 days. The seller may take as long as needed; however, the buyer has the right to refuse the award after 25 days from the closing date.

Will My Bid Details Be Made Public?

Sale results for all salvage will not be posted on the HeavySalvage.com website. Only the seller and/or their representative will have access to the sale results.

What If the Buyer Doesn't Pay For My Salvage?

HeavySalvage.com works diligently to only allow participation from the best buyers. However, HeavySalvage.com recommends each seller to have an established relationship with each buyer before allowing the buyer to pick up the salvage prior to paying for it. If the seller has any questions about a particular buyer the seller can contact us. If the highest bidder doesn’t remit full payment in accordance with the Terms and Conditions, HeavySalvage.com may remove that bidder from the approved list, making the bidder ineligible to participate in future salvage bidding. HeavySalvage.com will work hard to help resolve any issues.

Am I allowed to solicit bids directly from a HeavySalvage.com buyer?

No. If a seller does not have an existing, well-established relationship with a buyer prior to using the HeavySalvage.com website, the seller is not permitted to solicit bids directly from that buyer independently of the site.

Buying

How Do I Get Started?

All people interested in bidding must first register with HeavySalvage.com. Buyers of trucks and other motorized vehicles must be licensed dealers if required by your state. This helps protect the insurance companies and promotes equality among buyers. Truck buyers are requested to provide proof from their bank that they have a $100,000 line of credit or equal amount of available cash. All other buyers are requested to provide proof from their bank that they have a $50,000 line of credit or equal amount of available cash. All information is collected on a secure server and is kept strictly confidential. HeavySalvage.com will use the information to verify the identity and financial abilities of active bidders. Please note HeavySalvage.com may reject the registration of any bidder.

How Do I Make a Bid?

Once logged in to your account, simply click on the salvage of interest and enter a bid amount. Then click the “Place Bid” button. You will be asked to confirm your bid amount. Each bidder is required to honor their bid for 25 days from the close of bidding.

Do I Have to Place My Bid Online?

We encourage bidders to use our web site, but if a bidder is unable to, bids may be faxed or placed by telephone. Please note, faxed and telephone bids are handled in the same way as those submitted through our website, but Heavy Salvage is not responsible for any error or failures to execute these bids. Real-time bidding by telephone is not currently available.

What If Identical Bids are Received?

In the event of identical bids by two or more parties, HeavySalvage.com will honor the first bid received.

Is My Bid Legally Binding?

Yes. By placing a bid on salvage, the bidder is committing to a legally binding and irrevocable offer to purchase the salvage at his or her bid amount. Failure to complete the transaction is a breach of the HeavySalvage.com User Agreement signed during registration and is actionable by the seller.

Can I Retract a Bid?

All bid retractions require the prior written consent of HeavySalvage.com or the seller. HeavySalvage.com or the seller may reject any bid at their sole discretion.

What Fees Do You Charge to Bidders?

Winning buyers pay either a $50 or a $200 (subject to change) fee to HeavySalvage.com, depending on the amount of the winning bid. Foreign buyers are charged a fee of 8% of the bid price. These fees can be paid by personal check, company check, cashier’s check, money order, wire transfer, or credit card. All payments should be sent to REK, Inc. PO Box 427, Pickens, SC 29671. Bidders will not be allowed to submit future bids until outstanding fees have been paid.

How are Winning Bidders Notified?

Once the seller selects the winning bidder all parties involved including the bidder, insurance adjuster, and insurance company representative will receive an email notification. Only the seller can award the salvage. The seller must forward an award letter to the winning bidder. Heavy Salvage is not responsible for any charges incurred from salvage not being removed from the storage location by a buyer.

How Do Winning Bidders Make Payments?

All bids must be made in US Dollars in full to the seller. It is the responsibility of the bidder and the seller to arrange payment for the salvage.

How Do I Collect My Salvage?

It is the responsibility of the seller and successful bidder to make the arrangements to retrieve the salvage It’s the buyer’s responsibility to inspect the salvage before it is removed from the storage location. If items are missing or if the salvage is not as it was presented, the buyer must contact the seller immediately. Removal of the salvage by the buyer constitutes an acceptance of the salvage and the bidder must pay the full bid amount.

Will My Bid Details Be Made Public?

Sale results for all salvage will not be posted on the HeavySalvage.com web site. Only the seller and/or their representative will have the sale results.

What If I Don’t Pay For My Salvage?

If the highest bidder doesn’t remit full payment in accordance with the Terms and Conditions, HeavySalvage.com may remove that bidder from the approved list, making the bidder ineligible to participate in future salvage bidding. Legal action may also be taken by the seller to recover any monies owed to the seller, in accordance of state laws. By placing a bid through our system, the bidder is committing to a legally binding and irrevocable offer to purchase the salvage at his or her bid amount. Failure to complete the transaction is a breach of our User Agreement and is legally actionable by the seller. HeavySalvage.com or the seller may reject any bid at their sole discretion. Please note: HeavySalvage.com does not guarantee bids. We recommend sellers collect money before transferring salvage to the winning bidder. All bid retractions require the prior written consent of HeavySalvage.com or the seller.

Am I allowed to send a bid directly to the adjuster or insurance company?

No. If a buyer wishes to bid on salvage that is posted on the HeavySalvage.com website all bids must be placed through HeavySalvage.com. If you receive solicitations directly from an adjuster, we ask that you report this to us immediately. Due to your established relationship with HeavySalvage.com, you must bid on the salvage through the HeavySalvage.com website.