FREQUENTLY ASKED QUESTIONS
What does it mean to be sold "absolute" vs. "with reserve" ?
When an item is sold absolute, it is without reserve, or minimum bid. The item is sold to the highest bidder. An item sold with reserve must meet a minimum bid or have seller confirmation.
What kinds of items are sold at auctions?
Just about everything can be sold through the auction method. This includes real estate, personal property such as furniture, automobiles, jewelry, guns, antiques, collectibles, tools, etc. Livestock and farm equipment are also commonly sold. There are even a number of specialty auctioneers and auctions, selling things from exotic animals to art.
I have never been to an auction. How should I bid at an auction?
Depending on the type and style of the auction you are attending, auctioneers will accept a number of bidding techniques. These include raising of the hand, raising of the bid card, verbal "yeah", and some auctioneers even respond to a slight nod, wink, or thumbs up signal. As a newcomer to the auction scene, I would suggest a more overt gesture just to make sure your bid is received on the item you want.
Are there any warranties on the items I purchase at an auction?
No is the plain and simple answer. The auctioneer will announce the terms and conditions prior to the start of the auction, and the number one term at most auctions is, "All items are offered AS IS and WHERE IS, with no warranties expressed or implied." While most auctioneers will do their best to disclose information about the items they are selling, such as imperfections on a piece of pottery, whether or not an appliance works, and the condition of an automobile, the rule of thumb is "buyer beware."
What if I see an item(s) that I would like to bid on but cannot attend the day of auction?
If you cannot attend the auction but would like to still have opportunity to bid you may submit an absentee bid.
Submitting an absentee bid is a procedure that allows a bidder to participate in the bidding process without being physically present at the auction. We prefer the bid be submitted prior to the start of the auction. The auctioneer or his representative will handle the execution of the bid competively just as if you yourself were there. If your bid happens to be the winning bid then an auction representative will contact you to make arrangements in finalizing the transaction.