HOW IT WORKS

Auctions are the easy way to purchase a wide variety of assets including Construction Plant, Engineering / Woodworking machinery, Vehicles and much more via attending one of AMS Live Public Auction Sales or via the web. With the online Auction Sales You get all the excitement of a live Auction Sale without ever leaving the comfort of your home or office!

AMS Auctions brings you a wide variety of new and used equipment, including CNC Engineering / Woodworking machinery, Construction Plant, vehicles and lots more all at the click of a button through collective online Auction Sales.

Auctions generate great excitement because prices are not fixed and bargains can often be found. AMS Auctions brings together many different assets that you can purchase with complete confidence and in an exciting and fun way. Nobody knows the final price until the hammer goes down or the Lot has no further bids placed. Many lots have no reserves, and with the online Sales these run for a period of time (normally two weeks) you can take your time and carry out your research for the current best market price for a particular item. Once armed with your information, simply access the website, register and obtain your unique bidders number and password.

HOW TO BUY

Registration is very simple, and it takes less than a minute to get a password. Use your password to login and search the website for what your looking for, and start making bids. Registered users have access to their bidding history and My Account (which contains personal details and notification options).

You can change your password whenever you like. Once registered it is important to recognise that in regard to any online sales you participate in, you are bound by the terms and conditions relating to the specific sale you are interested in.

The Equipment Search facility allows you to simply type in the Manufacturers / Product name, model number or bid identification number of any item you are looking for. If you can't find the product you want, make sure you have registered and AMS will contact you when a new sale is about to start.

Once you have searched the catalogue and found a 'lot' or item you want to bid for, simply click on the bid button next to the item and follow the on-screen instructions (see How To Bid). If you are new to the site you will need to get a password and login before you can bid. Follow the on-screen instructions to register and get a password - then please login, find your lot and start bidding. During the closing stages of an Auction Sale you will be able to remain logged into 'My Account' and clearly see which Lots you are successful on and those which you need to increase your bids on, or in the case of a Tender Sale the maximum bid you have submitted to AMS

In regard to a Live Public Auction Sale taking place at a specified location, if you are unable to attend the Sale you are able to leave an absentee bid and AMS will bid up to your maximum bid on your behalf.

Successful bidders will be contacted once the Sale has finished and your preferred method of payment (see How to Pay section). Once cleared funds have been received then the item(s) are ready for collection from the location specified in the relevant Auction / Tender or Negotiated Sale. Collection times are then confirmed and agreed with the Auctioneers at a given date and time.

TYPES OF SALES

Sale types are clearly displayed in the Sales Categories area of the website against the individual items for sale. There are up to 4 different types of Sales that might be shown at any one time.

1. Live Public Auction Sale
2. Online Auction Sale
3. Online Tender Sale
4. Negotiated Sale

Live Public Auctions or General Sales are open to individuals, traders and companies alike. You can attend the event and bid against other bidders, or you can bid over the internet. You can also place a Maximum bid (amount you are prepared to go up to), or increase your bids as you go (see How To Bid) Either way you will know if you are the highest bidder. . In regard to a Live Public Auction Sale taking place at a specified location, if you are unable to attend the Sale you are able to leave an absentee bid online and AMS will bid up to your maximum bid on your behalf. If you are successful then AMS will contact you to arrange payment and collection , within the specified timescale for the relevant Sale.

Online Auctions allow you to experience all the excitement of a live Auction Sale without ever leaving the comfort of your home or office! The online Sales run for a period of time (normally two weeks) you can take your time and carry out your research for the current best market price for a particular item. Once armed with your information, simply access the website, register and obtain your unique bidders number and password. Once registered it is important to recognise that in regard to any online sales you participate in, you are bound by the terms and conditions relating to the specific sale you are interested in.

During the course of the Sale , if you place a bid and are outbid by another user , you will be notified by AMS , allowing you the opportunity to place a higher bid. Successful bidders will be contacted once the Sale has finished and your preferred method of payment (see How to Pay section). Once cleared funds have been received then the item(s) are ready for collection from the location specified in the relevant Auction / Tender or Negotiated Sale. Collection times are then confirmed and agreed with the Auctioneers at a given date and time.

Prior to a Sale commencing you can login and preview the items coming up for sale, the preview time varies. The Sales will close all Lots at a predefined time specified on the website, however, certain Sales may have time extensions of 10 minutes added to each individual lot if a bid is placed on an item. i.e. Those Lots that do not receive a bid 10 minutes before the Sale is due to end, will automatically close at the Sale End time. Those lots which are having bids placed will remain open for periods of 10 minutes bids until no bids are placed in the 10 minute periods. Please ensure you read the specific terms for each Sale.

Online Tender Sales work differently to auctions. The Sales are still open to anyone but are used for specialist or unusual items where the lot may have a significantly higher value to one particular person, but not to another. Tender Bids are also sealed. That means you bid the maximum amount you are prepared to pay and you don't know if you have the winning bid until the end of the sale. You can increase your bid at anytime during the Sales but you can't withdraw it once it's made.

Negotiated Sales are another type of sale made directly with potential buyers and are not part of an auction or tender process. Asset management companies hold databases of potential buyers around the world and will also market and advertise directly to companies or individuals who may be interested. Sales are negotiated by offering assets for sale subject to a specified price, and negotiating with interested parties on a one to one basis. The negotiated method of sale is generally used for individual high value assets and complete production facilities where major issues of decommissioning, removal, installation and potential grant aid may be involved. It is also useful where the seller is keen that a production plant or other asset should only be sold overseas or sold in a specific country or countries.

HOW TO BID ONLINE

In regard to bidding online , the way you place your bids is dependent on the type of Sale you are registered for.In order to be able to bid during a Sale , you must have registered and be logged in at the time of Sale to be permitted to place bids.

ONLINE AUCTION SALE

Individual Bids

This allows you to increment any bid in the auction simply by clicking the Bid Now button. The Minimum Bid Increment increase required is clearly stated against each item and displayed in the Minimum Bid box. If you're immediately out bid you will receive an e-mail from AMS letting you know you have been out bid. During the closing stages of an Auction Sale you will be able to remain logged into 'My Account' and clearly see which Lots you are successful on and those which you need to increase your bids on.

You can be instantly out-bid if another bidder has placed a HIGHER MAXIMUM bid against this item!

That means they have entered a higher amount for this item and AMS are automatically increasing their current bid by the minimum amount to stay top bidder. You can continue bidding by minimal increments until you beat their MAXIMUM bid, or you can place a higher MAXIMUM bid of your own and see if you become the highest bidder. IT IS IMPORTANT TO REMEMBER THAT YOU WILL ONLY PAY THE BID INCREMENT ABOVE THE NEXT HIGHEST BIDDER AND NOT AUTOMATICALLY YOUR MAXIMUM BID.

LIVE PUBLIC AUCTION SALE

With regard to a Live Public Auction you can attend the Sale and bid against other bidders, or you can bid over the internet. You can also place a Maximum bid (amount you are prepared to go up to), or increase your bids as you go . Either way you will know if you are the highest bidder. In regard to a Live Public Auction Sale taking place at a specified location, if you are unable to attend the Sale you are able to leave an absentee bid online and AMS will bid up to your maximum bid on your behalf. If you are successful then AMS will contact you to arrange payment and collection , within the specified timescale for the relevent Sale.

ONLINE TENDER SALE

With regard to the online Tender Sale, you are not aware of the highest bid placed during the Sale , as all bids are sealed and are not disclosed to other users. That means you bid the maximum amount you are prepared to pay and you don't know if you have the winning bid until the end of the Sale . You can increase your bid at anytime during the Sale but you can't withdraw it once it's made.

Remember there are no hidden extras in any of the Sales held by AMS; all you pay is the "hammer" price plus 12.5% Buyers Premium plus VAT @ 17.5% on the overall price. Each Sale has its own clear Key Terms relevant to that particular Sale.

HOW TO PAY

After a successful bid you will receive an e-mail or telephone call informing you that you have been successful and what you need to do next.

Payment is due immediately and within the time constraints as set out in the terms and conditions of sale. Invoices can be emailed, faxed and a hard copy posted within 24hours. You will be notified when payment has been received.

No item(s) purchased will be released from the Sale premises until cleared funds (see below) have been received in full within the given time constraints as detailed in condition 23 within the terms and conditions of the relevant Sale.

PAYMENT METHODS

• Bank Transfer
• Bankers Draft
• Debit Card
• Credit Card
• Cash on collection of items

In regard to credit card payment a 2.1% plus VAT surcharge will be added on the total amount payable which is an administration charge passed on by the credit card company

PLEASE NOTE WE DO NOT ACCEPT CHEQUES

AMS BANK DETAILS
National Westminster Bank
31 Promenade
Cheltenham
Gloucestershire
GL50 1LH

Clients Account No. 14541068
Sort Code 60-05-16

BIC NWBK GB 2L
IBAN GB43 NWBK 6005 1614 5410 68

HOW TO EXPORT

All items purchased by Purchasers from other EC countries and outside the EC, must inform the Accounts department this intention immediately after being notified of a successful purchase and will be dealt with accordingly. Buyers from outside the EC must supply documentation evidence as in Shipping Certificate, Original Bill of Loading clearly stating these items exported.

HOW TO COLLECT ITEMS

As stated above, no item(s) purchased will be released from the Sale premises until cleared funds (see below) have been received in full within the given time constraints as detailed in condition 23 within the terms and conditions of the relevant Sale. Once you have received confirmation that payment has been received and cleared the Auctioneer will make the appropriate appointment for you to attend on site in order to remove your item(s).

AMS will have staff in attendance on site in order to release the item(s) and in the event that you instruct your own haulier please ensure they are aware of any specific removal conditions as set out in the terms and conditions.

AMS have recognised Hauliers / Removal contractors who have provided an excellent service during the course of 15 years of business, details of which can be available on request.

SPECIAL NOTICES

V.A.T

V.A.T is payable at the rate payable on the day of the Sale. V.A.T is currently charged at 17.5% and is applicable to both the hammer price and the buyers premium.

MONEY LAUNDERING REGULATIONS

In order to comply with the above Regulations, Asset Management Services (UK) Ltd, do not accept cash payments for sums in excess of £ 10,000.00