CME 550 DRILL RIG - J.M. Wood Auction Company, Inc.

1091 CME 550 DRILL RIG

Description

SOLD
88,000.00USD+ (900.00) buyer's premium + applicable fees & taxes.

This item SOLD at 2021 Jun 16 @ 10:19UTC-5 : EST/CDT

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From (Incl.)	To (Excl.)	Increment
0.00	100.00	10.00
100.00	1,000.00	50.00
1,000.00	5,000.00	100.00
5,000.00	10,000.00	250.00
10,000.00	20,000.00	500.00
20,000.00	50,000.00	1,000.00
50,000.00	100,000.00	5,000.00
100,000.00	Infinite	10,000.00

From (Inc.)	To (Exc.)	Premium
0.00	3,000.01	10%
3,000.01	30,000.01	3%
30,000.01	Infinite	900.00

Category	Heavy Equipment / Drilling Equipment
Auction Currency	USD
Start Price	100.00 USD
Estimated at	0.00 - 0.00 USD

Item Description
Location & Preview
BP, Taxes & Fees
Shipping & Payment
Terms

CME 550 DRILL RIG Drilling Equipment

Cummins, winch, cathead, angle drill capabilities, auto hammer

Hours: 3,244

Serial Number: 212593

Notes: (4) new tires, new hoses, formerly Tn. DOT owned 3.583% - Heavy Equipment
3.083% - Farm Equipment
10.000% - Miscellaneous/General

Offsite Items are subject to local county taxes. Please refer to the tax listing.

Taxes:

Tax	Rate	Desc.
MONA	3.583%	Mongtomery - Auto
MONF	3.083%	Montgomery - Farm
MONG	10%	Montgomery - General
TEXG	6.75%	Texas
TXSC	1.5%	Texas 1.5% Surcharge
TEXA	6.75%	Texas
CARa	7%	Cartersville
CARg	7%	Cartersville
PLRa	7%	Pooler
ANDa	4%	Andalusia
FTPa	3%	Fort Payne
BHMa	4.75%	Birmingham
BHMf	4.25%	Birmingham
BHMg	10%	Birmingham
MTNa	7%	Mountain City
JULa	7%	Juliette
JULg	7%	Juliette
bhms	8%	Bhm
bhma	3.125%	Bhm 2
NCa	6.75%	North Carolina

Buyer's Premiums:

From (Incl.)	To (Excl.)	Premium
0.00	3,000.01	10%
3,000.01	30,000.01	3%
30,000.01	Infinite	900.00

Shipping Details:
Note: Please let us know the correct title (business name or personal) your winning lots should go under.

Payment Details:
IF PAYING BY WIRE TRANSFER PLEASE NOTE:
BUYER IS RESPONSIBLE FOR VERIFYING WIRE INSTRUCTIONS BEFORE PAYMENT!

Wire Funds To:
VALLEY NATIONAL BANK
1455 VALLEY ROAD
WAYNE, NJ 07470
ABA/ROUTING/TRANSIT NUMBER: 021201383

Beneficiary Account Information:

Customer Account Name: J.M. Wood Auction Co., Inc.
Customer Account Address:3475 Ashley Road
Montgomery, AL 36108

Customer Account Number: 55093795

Further Instructions:
Please reference buyer name, buyer
number, and auction date. Always call JM Wood Auction to verify wire instructions before sending.

Accepted Payment Methods:

VISA
Master Card
AMEX
Discover
Money Order/Bank Draft
Check/Cheque
Wire Transfer
Cash
Purchase Deduct

*Please Note: All power plant Items located in Anderson, Texas will include a 10% buyers premium that will be capped at a maximum of $3,000 per item.

FEE STRUCTURE FOR ALL ONLINE BUYERS (ONLINE OR ONSITE):

A 10% administration fee will be charged on all items selling for $3000 or less.

A 3% administration fee will be charged on all items selling above $3000 (this fee will be capped at a maximum of $900 per lot)

Real Estate auction carries at 10% Buyers Premium.

All other terms and conditions remain the same. So feel free to bid at any of our multiple day sales with confidence knowing that JM Wood Auction Co., Inc wants to earn your business!

As always remember it is important to register early and get your required information into our office at least 48 hours before the start of the auction if you are a first time internet bidder.

Terms and Conditions:

All prospective Internet Buyers are required to register prior to the Auction, or prior to bidding and must provide a Bank Letter of Guarantee. All Internet Buyers must also provide a government issued Photo ID. All Letters and Photo ID s must be faxed to 1.334.269.6990. This Letter must indicate that the Buyer is an Internet Buyer. The Letter must be as follows:

Mr. (Customer Name) is a customer in good standing at our bank. We will guarantee the payment of checks on his account (account number) up to (specify amount) dollars for purchase at your auction in (Auction Location) on (Auction Date). We hereby agree that no stop payment will be issued in conjunction with this letter.

Non-U.S. Buyers must complete the registration form and send to the Auctioneer a $10,000.00 deposit at least 24 hours prior to the auction. Deposits will be refundable the day after the sale if no purchase is made. Please contact JM Wood Auction company for wire transfer details.

All descriptions and conditions of equipment on this website are believed to be correct and have been conscientiously set forth by the owner. However, neither the owner nor the Auctioneers are responsible for any errors in description or condition. The equipment is available prior to the Auction for inspection. The Buyers Catalog acts as a guide only. The Auctioneer does not guarantee year models or conditions of an item.
If an Internet Buyer chooses to overnight a deposit or Bank Letter of Guarantee, please send it to:

JM Wood Auction Company, Inc.
3475 Ashley Road
Montgomery, Alabama 36108

TERMS AND CONDITIONS

NOTICE
All items are sold AS IS, WHERE IS without warranty of any kind, expressed or implied. Do not bid unless you have inspected the items and determined the condition for yourself. All information contained in this Buyers Catalog was derived from sources believed to be correct, but not guaranteed by J. M. WOOD AUCTION CO., INC. We do not guarantee year models, serial numbers or conditions of an item.

TAXES & TITLES
All items are subject to state and local tax law. Bonified tax exemption numbers will be accepted. Buyer will sign a tax exemption statement. NO TITLE DRAFTS! Titles will be mailed within ten (10) banking days.

NOTE: SALES TAX EXEMPTION: You may only use your Sales Tax # to cover purchases that apply under that number. All other purchases are subject to tax. We must have a copy of your Sales Tax Certificate. Failure to furnish this number will require payment of sales tax. NO EXCEPTIONS.

JUDGEMENT OF AN ITEM: All property sells "as is, where is" without warranty of any kind, expressed or implied. There are no warranties as to the quality, character or condition of any of the items. The implied merchantability is expressly disclaimed. There is no warranty o f fitness for a particular purpose. The buyer shall not be entitled to any adjustment or allowance, damages or any other remedy or claim on the quality, character or condition of any item purchased.

INSPECTION: The buyer agrees to rely on his personal inspection of the items in the auction.
RISK OF LOSS: The buyer assumes full responsibility and assumes risk of loss for all items purchased from the time the Auctioneer says sold to the buyer. The buyer will obtain full liability insurance on all items as required
EQUIPMENT REMOVAL: All equipment must be removed from sale site 14 days after the sale date. The new owner (Buyer) is responsible for dismantling equipment for transport. Auction personnel will offer reasonable assistance in loading the buyers' equipment. The equipment can only be picked up with the YELLOW PICK-UP TICKET marked "OK TO SHIP". Please have your ticket checked at the office if "OK to Ship" is not marked. All items must be removed form the sale site by the stated time, or a $25.00 per day, per item storage fee will be charged.
BUYER CATALOG: Buyer acknowledges receipt of a copy of the Buyers Catalog for this Auction and has read and agrees to be bound by the additional terms and conditions set forth in said catalog.
AUCTION SITE: Buyer acknowledges that the auction site and anywhere the property to be sold is located or displayed is a potentially dangerous place. Heavy equipment is being operated, potentially dangerous materials my be present, electric circuits may be live, and other potential dangers may exist. Every person at the sale site (and other areas where the property is located or displayed) at all times shall be there at their own risk with notice of the conditions of the premises, the activities the premises, potential conditions of the premises and the conduct of third parties and buyer shall so advise his agents and employees. No person shall have any claim against the Auctioneer, their agents, employees or principals for any injuries sustained or death to any person of persons whomsoever nor for damages to or loss of property which may occur from any cause whatsoever. Buyer acknowledges responsibility for any injury or death to any person or persons whomsoever or property damage caused by Buyer, his agents, or his employees.

CONDITIONS OF SALE

1) JM Wood Auction Co., Inc. ("The Auctioneer") will offer for sale by auction ("The Auction") items of equipment ("Equipment) either singularly or in groups ("Lot")

2) Prospective purchasers ("Bidders") of such Lots are required to register with the

3) Auctioneer and receive a bidding number ("Bidding Number") prior to making bids for any Lots

4) It is agreed that each Bidding Number is unique and non-transferable.

5) Bidders are to be held personally liable for any bids made with their Bidding Number.

6) The successful Bidder for a Lot ("The Buyer") will be charged a commission by the Auctioneer at a rate of 2.5% of the final price bid for the Lot ("Hammer Price"), not to exceed $750 per lot, or $7000 per auction event. There is a minimum fee of $10 per item.

7) Applicable State of Alabama Sales Tax will be charged on all Lots. Bidders from outside the State of Alabama will be exempt from Sales Tax if they provide proof of export or an approved tax exemption status form and exception certificates that are acceptable to the State of Alabama.

8) The highest bidder for each Lot shall be the Purchaser, and in the event of any dispute the Auctioneers shall have absolute discretion either to settle such dispute or to re-offer the lot for re-sale.

9) Payment in full must be made within 24 hours of the auction closing in the form of Cash, Wire Transfer, Cashiers Check or a Company Check accompanied with a bank letter of guarantee.

10) All purchases must be removed from the premises by the posted removal date.

11) The Auctioneer will use every endeavor to ensure that all Lots appearing in the catalogue for sale ("The Catalogue") are presented for sale at the Auction. The Auctioneer accepts no liability for loss or damage howsoever arising (including but not limited to costs of attendance of Bidders at the Auction) from any Lots not presented for sale.

12) The Auctioneers have described the Lot(s) in the catalogue to the best of their ability and belief from information furnished by the Vendor(s) who shall be alone responsible for any error or miss-statement, which there may be. The Auctioneers undertake no liability whatever in respect of any faults, deficiencies and errors of any description, oral or printed, nor do they accept responsibility for the authenticity, genuineness, origin, age, condition or quality of any Lot(s) and all statements as to these matters whether contained in the catalogue or made orally are statements of opinion only and not to be taken as being or implying a statement or representation of fact. Any intending Purchaser must satisfy himself by inspection or otherwise as to the correctness of each such statement. The Vendor(s) does not make or give and neither the Auctioneers, nor any person in their employment have any authority to make or give any representation or warranty in relation to any of the Lot(s) without the express instructions of the Vendor(s).

13) Each and every Lot is sold as seen. The Auctioneer provides no guarantees or warranties (express or implied) in respect of the Equipment contained in the Lot. All representations made by the Auctioneer, its servants or agents are to be considered lay opinions only and the Auctioneer accepts no liability for any purchase made by a Buyer in reliance upon them.

14) The Buyer of a Lot is deemed to have inspected the Equipment contained in that Lot prior to purchase.

15) Upon the receipt of the Auctioneer of cleared funds from the Buyer the Buyer agrees to remove the Lot purchased from the Sale Site forthwith unless otherwise agreed in writing by the Auctioneer.

16) The Buyer agrees to insure the Equipment purchased against all losses from the Auction Date until removal of the Equipment by the Buyer.

17) The Buyer acknowledges receipt of a copy of the auction catalogue for the auction and has read and agrees to be bound by the additional terms and conditions set forth in said catalogue.

18) All persons attending the Sale Site are put on notice that heavy equipment is being operated on the sale site and extreme care should be accordingly taken by all persons. All persons on the Auctioneers premises before, during or after the Sale shall be deemed to be there at their own risk and with notice of the condition of the premises and of the method of arranging Lot(s) and shall have no claim against the Auctioneers in respect of any injury or accident which may occur from any cause whatsoever.

19) The Auctioneer reserves the right to revoke any Bidding Number at any time. Where a Bidder wishes to register and use a Bidding Number as a servant or agent of another individual or organization then the Bidder must disclose the identity of the individual or organization to the Auctioneer at the time of registration failing which the Bidder is deemed to be principal and not agent for the bid.