se an item, when do I get my title?
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Can I pay by personal or company check at the auction?
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Do any of the
items come with any type of warranty?
What is an auction?
An auction is a method of marketing where the items sell
to the highest bidders. Anyone in the crowd who is willing to pay the most will walk away
with the merchandise. Auctioneers market their sales to draw the most buyers so that items
will sell for top dollar.
I've never been to an auction. How do
I find out where and when they occur?
Check your local newspaper for auction listings.
Look in the Yellow Pages and ask them when their next
auctions are. The National Auctioneers Association also offers an Online Calendar of
Auctions which lists auctions by region. The Internet is a
fast growing place to find Auctions. Google the word
"auctions" for the quickest results.
How can I find out about buying a
specific type of merchandise at auctions?
Contact
auction companies and ask to be put on the mailing list for the specialty you're
interested in.
What can I do if I'm confused or
intimidated about buying at auctions?
Follow these guidelines to become a confident
and efficient auction
consumer:
• Attend auctions and watch how different auctioneers run their sales.
• Do your homework.
If you are
interested in buying a specific type of merchandise, such as an
antique sofa, research
how much sofas are sold for in local Antique Shops. Head to the
local library
and refer to price and value guides for different brands and types of office furniture.
Ask the auctioneer for information about the merchandise she is selling that you're
interested in. Then set a price you are willing to pay.
• Most auctioneers schedule a preview prior to the
auction. Attend the preview and carefully inspect the merchandise that you are interested
in.
• Arrive early and get a seat near
the front where you can see the merchandise as it is sold, and where the auctioneer can
see you when you bid.
• Introduce yourself to the auctioneer, ask
him/her how
they run their auctions, when the item you want will be up for sale, and about
the Auction Terms
(such as whether you need to arrange for transporting the items you bought that day,
whether a buyer's premium and/or tax applies, if checks are accepted, etc.).
• Don't be intimidated by other bidders.
• Stick to the price you set, and don't bid more
than you intended to.
• Keep track of each item you buy, including a
brief description, the lot number, and the price you paid. Remember to calculate the
buyer's premium and taxes, if applicable, so you won't be surprised at the cashier's
table.
Can I pay by personal or company
check at the auction?
Yes, you may pay by personal or company check ONLY
if you have a valid Government issued photo ID. An
acceptable government-issued photo ID contains your photo and
must be issued by a government-operated division, such as the
driver's license bureau. An example would be a driver's
license or a passport. State driver's license bureaus may
issue photo identification even if you do not want a driver's
license
Do any of the items come with any
type of warranty?
No, there are no warranties on anything, either
expressed or implied. It is the bidder's responsibility to inspect any and all items prior
to his bidding on that item and to form his own opinion. In some
cases, the seller will extend a warranty. Those cases will
be made public at time of sale. |
