MAG Auctions

MAG Auctions is run by Motorsport Auction Group, a collector car auction house. Its Hot August Nights Collector Car Auction is held at the Reno-Sparks Convention Center in Reno, Nevada, where memorabilia is also sold, accepted case by case and auctioned before the vehicles.

How buying works

• Registration: bidders register online or with a paper form. Bidding online, by phone or by proxy carries a non-refundable $100 fee; online bidding runs through Proxibid, which screens bidders first. Phone and proxy bids are due five days before the sale.
• Buyer's premium: 15% on memorabilia. On vehicles, the event page lists 10% for in-person bidders and 12% by phone or online.
• Deposit and payment: when requested, buyers put down $5,000 per vehicle by card or cash. Purchases are paid in full by wire, cash, certified check or bank draft, not by credit card; personal or business checks need a bank letter of credit.

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Facts only, from the sources listed above. Always check each listing’s terms before you bid.