Buyer Fees

Registering with Graham Iron and participating in auctions are free. For each piece of equipment won in a Graham Iron Auction, the buyer must pay a transaction fee based on the auction closing price:

Auction Closing Price	Transaction Fee
$1 to $2,500	5% of the closing price
$2,501 to $40,000	1.25% of the closing price (min $125)
Above $40,000	$500

Default Penalty - Upon winning any Graham Iron Auction and failing to complete the sale for any reason, winning bidders must pay a "Default Penalty" for each individual defaulted unit based on the following auction closing prices:

Pay a Buyer Default Penalty of $2000.00 for each defaulted unit with an auction closing price between $1.00 and $25,000.00
Pay a Buyer Default Penalty of $2000.00 plus 6% of the final sale price for each defaulted unit with an auction closing price above $25,000.00