J.M. Wood Auction Co.

J.M. Wood Auction Co. was founded by Malcolm and Brenda Wood in 1973. It auctions construction equipment, tractors, trucks, trailers and farm and forestry equipment, with sales in Montgomery, Alabama, including long-running annual spring and end-of-year auctions.

How buying works

• Buyers can bid in person, live online in real time, or by proxy. Everyone must register with a valid driver's license; registration also calls for a pre-approved financing letter.
• Proxy bids need a 10% minimum deposit, photo ID and a bank letter of guarantee up to 48 hours before the sale.
• An administrative fee is charged on live and internet purchases: 10% on items up to $5,000, and 3.5% above that, with a $500 minimum and $1,350 maximum per lot.
• Payment is due on sale day in U.S. funds by cash, cashier's check or certified check; other checks need a bank letter.
• Everything sells as is, where is. Items leave only after checkout, and late removals are charged $25 per day per item.

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