Seller Fees

FEES & COMMISSIONS

Commissions

For each sale in an Auction, Graham Iron, LLC shall deduct from the payments made to the seller a commission fee (the "Commission Fee") equal to a percentage of the auction closing price ("Final Selling Price") as set forth in the table below. All commissions will be charged and shall be paid in U.S. dollars. The seller's commission will be deducted from the Final Selling Price upon completion of the sale.

Final Selling Price (per piece)	Commissions (% of Final Selling Price)
Less than $10,000	10.0%*
$10,000 to $19,999	8.0%
$20,000 to $49,999	7.0%
$50,000 to $99,999	6.0%
$100,000 and greater	5.0%
* 12.5% commission rate subject to negotiation based on number of units and condition; minimum commission is $250 per item

Listing Fees

For each piece of Equipment the seller lists, the seller agrees to pay to Graham Iron, LLC a listing fee ("Listing Fee") in accordance with the Listing Fee schedule below. The Listing Fee covers, among other costs, the cost of the Equipment inspection.

Single Item Rate (Inspected Equipment)

$500 for the piece

Multiple-Piece Rate (Inspected Equipment)

If a seller has 2 or more pieces at the same physical location (physical address) the per-piece listing fee will be $425. Example: If a seller has 5 pieces spread between two physical locations, 1 at location A and 4 at location B, the seller will be charged $500 for the piece at location A and $425 for each of the 4 pieces at location B, for a total of $2,200 for all 5 pieces

Smaller Pieces (Inspected Equipment)

Graham Iron may quote listing fees for smaller equipment requested to be inspected, e.g., light towers, generators, air compressors on a case-by-case basis. Any special rates must be agreed upon in writing before a signed listing contract is submitted, or the regular single and multiple-piece rates listed above will apply

The Listing Fee for equipment located outside of the continental United States will be determined by Graham Iron on a case-by-case basis. Graham Iron also reserves the right to determine the exact Listing Fee for any piece of equipment on a case-by-case.

You must pay this non-refundable Listing Fee prior to the first auction period for the equipment. The Listing Fees below apply only to equipment located in the continental United States during the time of inspection.

Other Fees and Penalties

Reserve Price Fee. For each auction listing with a Reserve Price, the seller agrees to pay to Graham Iron, LLC a reserve fee ("Reserve Price Fee") based on the following reserve prices:

Pay a Reserve Price Fee equal to $25 for auction listing with a reserve price less than $5,000.00
Pay a Reserve Price Fee equal to 0.5% of the Reserve Price for each auction listing with a reserve price between $5,000.00 and $40,000.00
Pay a Reserve Price Fee equal to $200 for each auction listing with a reserve price greater than $40,000.00

The Reserve Price Fee is non-refundable, is based on the reserve price entered at the time of Equipment Listing, and must be paid prior to each and every auction period for the Equipment.

Ownership Verification and Lien Search Fee. A fee of $75 may be assessed on each unit of equipment for lien searches to verify clear title and ownership to buyer and for processing outstanding lien balances. You must pay this non-refundable fee prior to the first auction period for the Equipment.

Reinspection Fee. If at any time prior to or during the auction, Equipment which has been inspected by Graham Iron is altered or modified in any way which might affect the accuracy of the Listing Details (including without limitation the Inspection Report), in order to proceed with an auction you agree to pay to Graham Iron a reinspection fee equal to three hundred and fifty dollars (US$350.00) (the "Reinspection Fee"). Graham Iron reserves the right to determine the exact amount of the Reinspection Fee for any Equipment requiring reinspection.

Removal Penalty Prior to Auction Close - Reserve not met. If, for any reason, the seller withdraws a piece of Equipment listed in an auction from the Graham Iron Site after the time of Equipment Listing but before either the reserve is met or the auction closes, the seller agrees to pay Graham Iron a removal fee equivalent to the greater of (i) 2% of the Reserve Price (as set by the seller) or (ii) $50 ("Removal Penalty Prior to Auction Close"). If, for any reason prior to the auction close, Graham Iron removes Equipment from an auction due to seller's violation of the Seller Listing Agreement, the seller agrees to pay Graham Iron the Removal Penalty Prior to Auction Close.

Seller Default Penalty. If, for any reason, the seller withdraws a piece of Equipment (or causes Graham Iron to withdraw their equipment in violation of the Seller Consignment Auction Agreement) listed in an auction after the Seller Reserve Price is met, the seller agrees to pay Graham Iron a Default Penalty ("Seller Default Penalty") equivalent to the Commission Fee of the winning auction closing price as if the Equipment were sold, as well as the Listing Fee.

Unauthorized Equipment Use/Modification Penalty. If, for any reason, the seller operates, leases, rents, modifies, uses or allows Equipment sold in an Graham Iron, LLC auction to be altered at any point between the time of Equipment Listing and buyer removal of the Equipment from the seller's location, the seller agrees to pay Graham Iron, LLC an unauthorized use fee equivalent to the Commission Fee of the final sale price as if the Equipment were sold, as well as any unpaid Listing Fee ("Unauthorized Equipment Use Penalty"). In addition, if the equipment has been delivered to the buyer, the seller also will be responsible for any and all transportation and freight costs associated with the delivery of the equipment to the buyer's location and the removal of the equipment from the buyer's location. In either case, title and/or ownership will not transfer to the buyer and the seller shall not receive any of the proceeds associated with the sale.

Delivery Delay Penalty. If, for any reason, after Graham Iron has notified the Seller of receipt of full payment from the Buyer and at least one (1) business day after the close of an auction, the Seller either does not have their equipment in a "ready" condition for transport or delays the release of their equipment to the buyer's scheduled common carrier or other Buyer conveyance, the Seller shall be responsible for full payment of any additional expenses incurred by the Buyer and/or Graham Iron due to Seller delay ("Delivery Delay Penalty"). These expenses may include, but are not limited to, transportation cancellation or re-scheduling fees, transportation delay fees, and hourly or daily average rental cost of equivalent replacement equipment for the buyer, including loading, unloading and transportation costs. Graham Iron may assess the Delivery Delay Penalty at its discretion. These additional expenses will be deducted from the proceeds of sale after Buyer acceptance, but prior to transferring payment to the Seller.

Seller Default Penalty. If, for any reason, the seller fails to release Equipment sold in an Graham Iron auction to the buyer’s scheduled common carrier or other buyer conveyance, or if the seller is incapable or releasing the Equipment, the Seller agrees to pay to Graham Iron a Default Penalty (“Seller Default Penalty”) equivalent to the Commission Fee of the winning auction closing price as if the Equipment were sold, as well as the Listing Fee.