WHAT IS A LOT OR ITEM?
Bidding will be conducted for ALL (and not part of) what is described. The lot may be composed of many things, but only one price (the winning bid) will take all. If separate prices are needed or items are at different locations; you must post them separately.

SELECTING A CATEGORY
Select one of these categories from the pull down menu. The selection of the category is at your discretion.

SHORT DESCRIPTION
In this field, describe the item as it will be viewed on the auction site, such as "10 bales of textiles", "60 cases of canned goods", etc.

DETAILED DESCRIPTION
For they benefit of the seller and buyer, it is best to describe the item/lot for sale in as complete detail as possible. The information should include quantity, quality, country of origin, weight, size, landed value, and if there are any restrictions on movement. In the case of damaged goods, explain the reason for the rejection. In addition, please include whether or not there are any storage or handling charges that would be an additional expense. Any relevant information not included by the seller will undoubtedly cost time and energy to respond to the inquiries.

RESERVE PRICE
Insert the minimum that will be accepted for this item, using the currencies provided. These must be to the nearest unit amount. For example minimums in US Dollars must be listed as $15555.00 and not $15555.78

It has been our experience that a reserve of an anticipated sale price is not desirable. It is best to set the reserve as low as possible and the let the market work.

END AUCTION TIME
Select the closing time for the bid. Options are variable for the number of days till closing. Minimum is 24 hours.

SUBMIT PHOTOS AND .PDF FILES
Sellers may up-load several photos that will be viewed with the listing. Information files containing scanned documents such as .pdf can also be up-loaded for availability to buyers.

QUESTIONS REGARDING THE ITEM FOR SALE
Insert the email address, optional phone number and contact name of the person who can respond to any special questions that may not have been included in the detailed description given for the item.

CONTACT FOR EXAMINATION
In this field, list the email address and optional phone and contact name for the person to be contacted to arrange for examination of the item.

WHAT IF I NEED TO EDIT MY LISTING?
Contact SalvageService.com @ AuctionMaster@SalvageService.com Be sure to include your lot number with your request. ARE THE POSTED ITEMS IMMEDIATELY LISTED ON THE SITE? No. All posted items are reviewed for content by SalvageService.com and there may be a short delay before it can be viewed on the auction page.

WHAT IS THE AUTOBID?
The AutoBid feature is an optional feature which allows the buyer to place a blanket bid on an item. First, enter a bid higher than the reserve. Second, enter the maximum amount you (the buyer) wants to pay for this item in the AUTOBID section. This will remain confidential during the bidding process, but will raise your bid by only1 unit of currency above any incoming bids. The AutoBid protects the buyer from overbids and will continue until the AutoBid limit is reached. In the event of ties, the AutoBid is the winning bid.

WHAT HAPPENS WHEN THE BID ENDS?
At the expiration of the auction, and the reserve has been met, the website will note that the item is SOLD and the seller and the highest bidder will be notified of the bid results. All necessary transactions related to the sale are the responsibility the seller.

HOW MUCH DOES IT COST?
The service fee is a commission of 5% or $50, whichever is greater, after the item is sold. Lloyd's agents and those approved by SalvageService.com may retain ½ of the fee as an agency commission. Non-Lloyd's agents may contact auctionmaster@salvageservice.com for special approval.

WHAT HAPPENS IF IT DOESN'T SELL?
The item will automatically be rolled over for up to three additional weeks after the initial auction period.

WHAT HAPPENS WHEN IT SELLS?
The seller is notified of the highest bid and bidder. The high bidder will be asked to contact the seller to complete the transaction. The seller will make the necessary arrangements to receive payment, releasing of goods and any other requirements.

SPECIAL INSTRUCTIONS FOR LLOYD’S AGENTS.
This site is used for the purposes of disposition of rejected cargo and minimizing insurance losses.

It is necessary for each agent to have a release from the owner of the goods or to have a statement from the owner that the agent is authorized to dispose of the same. When an item is sold, the total salvage commission must be collected by the Lloyd’s agent as the seller.

If the salvage proceeds are forwarded to the agent, then the salvage commission can be deducted before dispersal; however, if the salvage proceeds are to be forwarded directly to the owner, then the agent should request a separate check in the amount of 5% of the auction price from the buyer.