Frequently Asked Questions
Heavy Salvage is an online salvage and insurance auction site. Our online auction platform connects verified buyers to certified sellers of wrecked or salvaged semi-trucks, trailers, equipment or other heavy duty specialty vehicles with insurance companies and certified sellers.
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General Questions
What is an online salvage and insurance auction site?
In an effort to offer the most trusted salvage commercial vehicles and heavy equipment, our inventory has been inspected by licensed sellers, most often representing insurance companies. All bids placed on our online auction platform are blind bids.This is a common auction type that means each bid is sealed and bidders are unable to see other participants' bids.
What type of salvage commercial vehicles are sold?
Heavy Salvage brokers wrecked or salvaged heavy duty trucks, trailers, construction equipment off-road, agriculture, mining, RV and many other transportation and commercial vehicles.
For Sellers
How do I get started selling heavy salvage semi-trucks, trailers, equipment and commercial vehicles?
To sell with Heavy Salvage you first need to register To list your transportation salvage, we need basic contact information so that we can communicate directly with you and verify your listing.
What Fees Do You Charge Sellers?
Our No Fee Seller program guarantees as long as the auction winner is a registered Heavy Salvage buyer. If the salvage vehicle is not sold to a registered buyer, the seller must pay a $100 fee. We also offer a Specialized Salvage program. With this program, a seller fee of 10% of the winning bid is applied. This fee is for unique salvage vehicles or equipment 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 vehicle directly through our website, by fax, by email, or by phone. Bids can be viewed in real-time through the seller's account. Within the seller's account, winning bids can be easily selected or rejected for each salvage vehicle listed. Each bid listed has a button that allows the insurance company to easily select 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 within 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 vehicles will not be posted on the 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?
Heavy Salvage works diligently to only allow participation from the best buyers. However, we recommend that each seller establish a relationship with each buyer prior to salvage vehicle pick up and payment. 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, we may remove that bidder from the approved list, making the bidder ineligible to participate in future salvage bidding. We promise to work hard to help resolve any issues between seller and buyer.
Am I allowed to solicit bids directly from a registered buyer?
No. If a seller does not have an existing, well-established relationship with a buyer prior to using HeavySalvage.com, the seller is not permitted to solicit bids directly from that buyer independently of the site.
For Buyers
How do I get started bidding on heavy salvage semi-trucks, trailers, equipment and commercial vehicles?
To start bidding you must first register your account. Buyers of salvage 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. Salvage 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. We will use the information to verify the identity and financial abilities of active bidders. Please note HeavySalvage may reject the registration of any bidder.
How Do I Make a Bid?
Once logged in to your account, simply click on the salvage vehicle 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 within 25 days from the close of bidding.
Do I Have to Place My Bid Online?
We encourage bidders to use our website, 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, however, 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, we will honor the first bid received.
Is My Bid Legally Binding?
Yes. By placing a bid on Heavy Salvage, the bidder is committing to a legally binding and irrevocable offer to purchase the salvage vehicle at the amount indicated. 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 Heavy Salvage or the seller. Heavy Salvage or the seller may reject any bid at their sole discretion.
What Fees Do You Charge to Bidders?
Winning buyers pay either a $100 or a $250 (subject to change) fee to Heavy Salvage, depending on the amount of the winning bid. Foreign buyers are charged a fee of 10% 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 vehicle. The seller must then forward an award letter to the winning bidder. Heavy Salvage is not responsible for any charges incurred from salvage semi-trucks, trailers, equipment or other heavy duty specialty vehicles 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 vehicle.
How Do I Collect My Salvage?
It is the responsibility of the seller and successful bidder to make the arrangements to retrieve the salvage vehicle. 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 vehicles will not be posted on HeavySalvage.com. 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 Heavy Salvage 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 with state laws. By placing a bid through our system, the bidder is committing to a legally binding and irrevocable offer to purchase the salvage vehicle 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. Heavy Salvage or the seller may reject any bid at their sole discretion. Please note: We do not guarantee bids. We recommend sellers collect money before transferring salvage to the winning bidder. All bid retractions require the prior written consent of Heavy Salvage 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 a salvaged semi-truck, trailer, equipment or another heavy duty specialty vehicle that is posted on HeavySalvage.com, 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 HeavySalvage.com.