Buying with Purple Wave Auction

What information is needed to create a customer account?

Basic contact information (name, address, phone, email)

Why do I need an email address?

Our notifications are sent via email. Outbid notifications, description changes, winning / paid invoices are all sent via email.

Why do I need a credit card or bank reference in order to bid?

In lieu of a bidding deposit, we require a credit card or bank reference. Credit cards are authorized at the time of registration; but not charged. Purple Wave will accept payments up to $3,000 on credit card. Purple Wave does reserve the right to charge the card along with a late payment fee if payment plans are not made within 2 days following the auction.

Is my credit card information secure?

Yes, Purple Wave uses authorize.net for all credit card information. Authorize.net keeps our transactional data safe while making it easy to authorize payments via our website. We consider the safe keeping of all transactional data one of the most important services we can provide. We are PCI compliant and continually take measures to increase the safety of any of our information.

Is there a fee to register or bid?

There are no fees to register for an account or to bid in any of our events. We charge a buyers premium on all purchases (10% of the winning bid).

How do I know if I won an item?

There are 2 ways to determine you are the winning bidder on an auction item.

• All winning bidders are emailed an auction invoice after the event is closed.
• You can also find your invoice by accessing your customer account on www.purplewave.com.

How / When do auctions close?

Our auctions will typically close 1 item per minute starting at 10:00 AM CDT. However, our larger auctions may close 2 or more items per minute and our specialized auctions may start closing at a different time.

Why do items extend in time?

All auctions feature our automatic extension system which will grant an extension of five (5) minutes to the end of the auction of any item receiving a bid during the last five (5) minutes. The item will then close when five (5) minutes have elapsed without any bidding activity.

What is a Grouped Extension?

Occasionally, Purple Wave will group together similar assets in an Internet only auction and place them in a bidding extension group. Any bid within the last few minutes that causes an automatic extension of bidding on any one of the assets in that group will now automatically extend the bidding on ALL assets in that group. When no more bidding has occurred on any assets in a group for the specified time, then bidding on all assets in that group will close simultaneously.

Is there a bidding limit?

Bids over the amount of $10,000.00 are subject to Purple Wave's qualification process. Verification may include, but is not limited to, providing a bank letter of guaranty, credit references or credit card pre-authorization. Purple Wave may take any or all of these measures at any point during the auction. Purple Wave reserves the right to strike any Internet bid if the bidder refuses or fails to timely cooperate with Purple Wave's efforts to verify the bidder's qualification to bid. By registering to bid in this auction, you authorize all credit references, banks and credit reporting agencies to provide complete information about your credit to Purple Wave. For questions regarding Purple Wave's bid qualification process, please contact our Credit Specialist at credit@purplewave.com or call 1.833.685.2802.

How do I have sales tax removed?

Purple Wave adds sales tax to all applicable items. Tax will be collected unless the buyer provides proof of exemption. Click here for tax exemption.

How do I pay my invoice?

Forms of payment accepted:

• Wire Transfers in any amount will be accepted. Click here for wire instructions.
• Cashiers Checks in any amount will be accepted.
• Visa, MasterCard, and Discover are accepted up to $3,000 with authorization*.
• Checks up to $10,000 will be accepted without a bank guaranty letter*. Checks of $10,000 or greater will be accepted only with a bank guaranty letter or with prior approval from Purple Wave's credit department. Click here for letter requirements.
• Checks may be mailed to:
  Purple Wave, Inc.
  825 Levee Dr.
  Manhattan, KS 66502
  
  *Purple Wave reserves the right to hold assets and/or certificates of title until fund availability is confirmed.

When can I pick up my items?

Once payment is received you and the seller(s) will receive a 'paid' invoice. Once you have your invoice, make your arrangements for removal. Please remember to pick up your items within the removal timeline to avoid fees and forfeiture of your item.

Bidders are responsible for maintaining current account information
Bidders are responsible for their account. Bidder understands that it is their responsibility to keep accurate, up to date information with Purple Wave. Accurate account information includes contact information (phone numbers, physical address, email address, current credit card information).
 
As a condition of bidding in any Purple Wave auction event, all bidders agree to and understand the following terms:

• All items are sold 'AS-IS, WHERE-IS'. It is the responsibility of the buyer to conduct any inspection and examination to satisfy them of all material facts before placing a bid.
• Bidders understand the limitations of listings.
• A 10% buyer's premium will be added to all winning bids.
• Bidders are responsible for all bidding activity.
• Large Bids (greater than $10,000) may be subject to additional qualification.
• Payment is due within two business days.
• Sales tax will be charged on all taxable items.
• Winning bids are binding. A 15% default premium will be charged for non performance.
• Items must be removed by the removal deadline.

Terms and conditions

Bidders understand that items are sold 'AS-IS, WHERE-IS'
BIDDERS UNDERSTAND THAT ITEMS SOLD ON WWW.PURPLEWAVE.COM ARE SOLD 'AS-IS, WHERE-IS', AND WITHOUT WARRANTY. PURPLE WAVE, INC. (PURPLE WAVE) AND SELLER FURNISH ALL AUCTION ASSETS TO BUYERS 'AS IS' UNSUPPORTED, WITHOUT WARRANTY OF ANY KIND. PURPLE WAVE AND SELLER DISCLAIM ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. CONSUMER RIGHTS VARY FROM STATE TO STATE. CERTAIN STATES INCLUDING ALABAMA, CONNECTICUT, KANSAS, MAINE, MARYLAND, MASSACHUSETTS, MINNESOTA, MISSISSIPPI, NEW HAMPSHIRE, VERMONT, WASHINGTON, AND WEST VIRGINIA, LIMIT WAIVERS OF IMPLIED WARRANTIES. THE DISCLAIMERS AND EXCLUSIONS WILL NOT APPLY TO THE EXTENT CONSUMER WARRANTY EXCLUSIONS ARE PROHIBITED BY APPLICABLE LAW.

Bidders understand the limitations of listings
Purple Wave attempts to give its customers an industry leading experience by providing detailed equipment listings. Listings include written descriptions, photographs, location, and consignor information.

Equipment descriptions are based on our direct observation and information provided by our selling customer. All information is intended to be as accurate as possible. However, we recommend customers inspect prior to bidding. Purple Wave listings are not intended to be substitutions for inspection. The details provided may differ on equipment based on information provided by the consignor. An error or omission in the listing will not change the results of the bid. It is the responsibility of the buyer to conduct any inspection and examination necessary to satisfy the buyer of all material facts before placing a bid.

International Bidders are responsible for determining the exportability of items. Customers are responsible for all duties, inspection and customs fees that may apply.

International Bidders are required to place a bidding deposit equal to 10% of the total intended bidding amount. Deposits for bidding $30,000 or higher must be made by wire transfer, other deposits may be made by credit card. Bidding deposits will be applied to your purchase following the auction. Non winning bidders will be refunded within 5 days of the auction event. Please contact us at credit@purplewave.com or 1.833.685.2802 with any questions.

As a bidder, you understand that some of the limits of our inspections are:

• Mileage and hours in listings are representations of what is on the meter. Purple Wave does not verify authenticity of mileage/hours nor do we verify the operational condition of the odometer/hours meter.
• Operating weight appearing in some listings are manufacturers specs. Weight may vary due to additional features and options.
• Accessories (interior/exterior, ancillary) may be listed in the description, however, may not be verified for operational condition such as A/C and heat, audio equipment, lighting, power seats, etc.
• Cosmetic damage/body damage, such as dents, cracks, scratches, rust, stains, and tears may not be included in the descriptions, however may exist.

 

Buyer's premium
A 10% buyer's premium will be added to all winning bids, resulting in the total purchase price, exclusive of any applicable sales taxes, owed by the winning bidder. The buyer's premium will be included in the price against which applicable sales taxes are calculated.
 
Bidders are responsible for all bidding activity
Bidders understand that they are responsible for submitted bids. Bids placed on www.purplewave.com are binding and will not be removed. When clicking the ‘Place Bids' button, you are responsible for the amount displayed. Do not share your account information with anyone. Do not bid on behalf of someone else. If you are declared the winning bidder at the end of the auction, you are the owner. All sales are final.
 
Bidder understands Large Bids (greater than $10,000) may be subject to additional qualification.
Qualification may include, but is not limited to, providing a bank letter of guarantee, credit references or credit card pre-authorization. Purple Wave may take any or all of these measures at any point during the auction. Purple Wave reserves the right to strike any internet bid if the bidder refuses or fails to timely cooperate with Purple Wave's efforts to verify the bidder's qualification to bid. Purple Wave may also require qualification from bidders who bid on multiple items, items being 'sensitive or important' and bidders who are international or distant. Purple Wave reserves the right to authorize any and all bidders but generally requires analysis of bids, particularly risky including bids placed over $10,000. By registering to bid in this auction, you authorize all credit references, banks and credit reporting agencies to provide complete information about your credit to Purple Wave. For questions regarding Purple Wave's bid qualification process, please contact our Credit Specialist at credit@purplewave.com or call 1.833.685.2802.

Bidders are responsible for making payment in full within two business days.

Bidder is responsible for making payment in full within (2) two business days after the auction. Purple Wave reserves the right to charge a $30 late payment fee on any payment not received within our terms. Payment must be made in full before assets will be released. Detailed payment information will be provided on your invoice.
Forms of payment accepted:

• Wire Transfers in any amount will be accepted. Click here for wiring instructions
• Cashiers Checks in any amount will be accepted.
• Visa, MasterCard, and Discover are accepted up to $3,000 with authorization.*
• Checks up to $10,000 will be accepted without a bank guarantee letter.* Checks of $10,000 or greater will be accepted only with a bank guarantee letter or with prior approval from Purple Wave's credit department. Click here for letter requirements
  • Checks may be mailed to:
    Purple Wave, Inc.
    825 Levee Dr.
    Manhattan, KS 66502

*Purple Wave reserves the right to hold assets and/or certificates of title until fund availability is confirmed

Bidder understands Sales tax will be charged on all taxable items
State law requires Purple Wave collect sales tax on all applicable transactions. Sales tax rates are based on the item's location and are applied to the total purchase price (hammer price plus the Buyer's Premium). Tax will be collected unless the buyer provides proof of tax exemption, which must be submitted before tax amounts will be removed from the invoice. Exemption forms are auction and state specific and may need to be completed for every event. Purple Wave cannot offer advice, opinions or guarantees about whether you are in fact exempt. Buyers may be subject to use tax in their state of residence. Consult your tax advisors if you have sales tax exemption or use tax questions. Purple Wave, Inc. cannot be held responsible for states' registration requirements regarding exemptions. Please note, guidelines and regulations regarding tax exemptions may vary between states. If you are eligible for an exemption, please complete the appropriate exemption certificate and email it to exemptions@purplewave.com or fax to 1.866.604.2264.

*Sales tax exemption forms and / or additionally requested documents or statements must be provided within one week of the Auction. Sales tax balances due to missing forms will be automatically charged to your designated payment method. By creating an account, you agree to these automatic charges and acknowledge that any unpaid taxes or fees are your responsibility. If we are unable to collect the balance due, we reserve the right to disable account privileges and seek damages.

Full Sales Tax / Use Tax information

A 15% default premium will be charged for non performance of auction agreement
If a purchase is defaulted on for any reason, Purple Wave will charge the winning bidder a default premium. The default premium is 15% of the hammer price (with a minimum of $100.00). Purple Wave reserves the right to automatically charge the primary credit card on file the entire balance of the default premium. Uncollected default premiums will be sent to collections. Purple Wave and/or the seller reserve the right to pursue all legal remedies. If unable to satisfy the terms of auction, do not bid. Purple Wave reserves the right to charge the primary credit card on file for the default premium along with other damages associated with non-payment of the item. Damages may include but are not limited to storage, removal or loss (if the item is resold).

Abandonment of Items; notice

Notice provided. In the event that a Buyer fails to collect their purchased item(s) within the specified removal deadline after receiving an abandonment notice from the Auctioneer, the following provisions shall apply:

• For items with a Purchase Price below $2,000: the Buyer shall forfeit all payments made - Ownership of the item(s) shall automatically revert to the Seller - The Buyer shall have no further claims to the item(s) or any form of refund.
• For items with a Purchase Price of $2,000 or greater: the Auctioneer shall retain the right to resell the item(s) on behalf of the Buyer. An administrative fee of 20% of the original transaction’s Purchase Price (minimum $1,000) shall be charged. This administrative fee is cumulative with any previously incurred fees, including but not limited to default fees and storage fees - Following resale, the Auctioneer shall refund to the original Buyer any proceeds remaining after deduction of all applicable fees and expenses. The Auctioneer reserves the right to revert ownership back to the original seller when fees and expenses exceed the original purchase price. Under no circumstances shall the refund amount exceed the original Winning Bid.
• No notice sent. Regardless of whether notice is provided, assets with a Purchase Price under $2,000 and not removed for ninety (90) days or more will be considered abandoned.

On titled transactions when the title has legally transferred ownership; the buyer is responsible for picking up the item and paying any storage, towing, or impound fees.

Purple Wave maintains the right to suspend or terminate bidding privileges for any account holder who fails to comply [any of Auctioneer’s Terms and Conditions] with removal terms and deadlines.