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Frequently Asked Questions

BIDDER FAQ’S

How do I become a registered bidder?
Please fill out the Bidder Registration form, submit registration payment, and provide all required forms.

What is required to register to bid?
We require a photo ID (driver’s license, state issued identification card or passport) in order to register to bid. If you are registering and buying under a dealership, we are required to take a copy of the dealer license. A bank letter of guarantee is also required for each registered bidder (explained below).

What is the cost to become a registered bidder?
There is a Bidder Registration fee of $100; however, you can save by registering by August 19, 2016 and pay $75.

Can I register on-site or is it better to register in advance?
You are welcome to register on-site during the event; however, it is recommended to pre-register in order to avoid potential lines.

What is a bank letter of guarantee?
A bank letter of guarantee is an irrevocable letter issued by your banking institution stating that the bank will guarantee a check written by you, indicating your account number and the monetary value of the guarantee; it must also state that no stop payments will be issued until October 3, 2016. The bank will state the guarantee is to be used for the purposes of the proposed auction on the date of the sale.

What are my options if my bank does not issue a letter of guarantee?
The other accepted option is a letter of credit; however, your methods of payment(s) will be limited to certified funds. Only a letter of guarantee allows you to pay with a personal or company check.

What are acceptable methods of payment?
All payments must be made in the form of certified funds; this includes cash, and certified checks. You may also pay with a personal/company check as long as a bank letter of guarantee accompanies it. Additionally, we do accept all major credit cards (Visa, MasterCard, Discover, and American Express); if you pay by Credit Card, we must add a 4% processing fee that is paid directly to the credit card company. Please note: Funds available via credit card must be verified by our auction staff during check-in.

What if my certified check is arranged for a greater amount than that of what I purchase?
If you have arranged in advance a certified check to pay for purchases and it is larger than your final bill of sale, the Wildwood NJ Boardwalk Classic Car Auction will issue a check in the difference payable to you (the buyer) within two weeks post-auction.

When do I receive the title for a vehicle I purchase?
As the Wildwood NJ Boardwalk Classic Car Auction wants to ensure all cars sold to our customers are clear and free of liens, we manage the process of title reassignment for all buyers. Buyers will receive assigned titles in the mail up to two weeks after the auction.

What is a Buyer’s Premium?
A buyer's premium is a percentage of your bid that is charged on top of the final bid price. Buyer's premium is a set percentage of 7% that is non-negotiable.

CONSIGNOR FAQ’S

What does it mean to consign my vehicle?
To "consign" literally means to "deliver" or "entrust." By consigning your property to our auction, you are simply setting the stage for that property to be sold at auction on your behalf.

What is the cost to sell my vehicle at your auction?
A Seller Fee in the amount of $150 for a Friday run or $350 for a Saturday run, per vehicle, is required. You can save on a Saturday run by registering by August 19, 2016 and pay $300.

If my vehicle does not sell, when can I expect the refund for my registration fee?
Our auction is built around the sale of your vehicle; however, if your vehicle does not sell we will issue you a refund check of your paid registration fee within two weeks post-auction.

Do I have the option to place a Reserve on my vehicle(s)?
Yes. The reserve price is never disclosed and can be whatever you chose to make it, as long as it is within reason of the vehicle’s worth.

Am I able to save money on registration if I register a vehicle with No-Reserve for auction?
Yes. No-Reserve vehicles will be accepted at a $175 consignment fee (Saturday run only).

What is a Seller’s Commission?
A Seller’s Commission is the amount owed to WNJBCCA for the sale of your vehicle; we collect 7% of the sold price. No-Reserve vehicles are subjected to a 4.5% commission.

Do I need to supply you with my Title?
Yes. The WNJBCCA requires that we hold the original title to each vehicle consigned in our auction.

If my car doesn’t sell, when do I receive my title back?
Our auction is built around selling your vehicle; however, in the event that your car does not sell, you will receive your title back via certified mail no more than two weeks post-auction.

What happens if the reserve price is not reached on an item?
The auctioneer will “pass” on the vehicle if the reserve is not met; however, if the seller is present, the seller has the option to lower the reserve and/or accept a bid lower than the reserve price.

I sold a car, when will I be paid?
Sellers will receive payment no later than 21 business days after the date that WNJBCCA receives payment from the buyer.

When do I need to deliver my car?
We request that all vehicles be delivered no later than Thursday, September 22, 2016 by 3pm.

Do I need to be there when my vehicle arrives?
No. As long as your vehicle is pre-registered, a WNJBCCA representative will handle your vehicle upon arrival. Please be sure to check-in with us at Registration when you do arrive, so we may be sure that all paperwork is properly completed. We will not move cars into the exhibit hall until registration is complete; additionally, we will not run any vehicle through the auction until its original title is in our possession.