Auction FAQ 2018-02-07T11:54:02+00:00

Must I register to bid?

You MUST register on auction day and receive a Bidder Card to bid. At registration you must present a current picture ID, complete and sign the Bidder’s Contract.
What does “Absolute Auction” means?

Property being sold “Absolute” means the property will be sold to the highest bidder, regardless of the high bid price. Once bidding begins, it must be sold by law, no matter how low the winning price is.

What is a Buyer’s Premium?

A Buyer’s Premium is a percentage amount paid by the buyer and added to the highest successful bid to determine the final contract price. For example, if the Buyer’s Premium is 10% and the Buyer bids $100, the Buyer will pay $100 for the item plus $10 Buyer’s Premium for a total of $110.
Can I write a check if it’s a business account?

Yes, but you must also bring with you to the auction a Bank Letter of Guarantee. This is a requirement for both business & personal checks.

What is a Bank Letter of Guarantee?

letter of guarantee is a type of contract issued by a bank on behalf of a customer who has entered a contract to purchase goods from a supplier and promises to meet any financial obligations to the supplier in the event of default.
 

What if I want to take purchases to my car before I’m finished buying?

No problem! You can check out multiple times during the auction. Simply pay for the items you want to remove, and have your receipt to verify payment.