Auction Frequently Asked Questions
When are your auctions?
The 2nd Saturday of each month is our Community Live/Webcast Auction. The 4th Wednesday of each month is an Online Only Cummunity Auction. Throughout the month, we also hold online and live auctions from business liquidations to estates. Our website is a great tool to see when the next great auction will take place.
What hours are you open?
Our typical in office hours are:
Monday - Friday: 8:30 a.m. until 5:30 p.m.
Saturday - 9:00 a.m. until 2:00 p.m.
How does an auction work?
An auction is a process of buying and selling items by offering them up for bid, taking bids, then selling them to the highest bidder. You also have plenty of opportunity before the auction starts to preview, in person or online, the items being sold. We always encourage you to preview the items you are interested in.
Whether the auction is online or live, you will need to register. Registering is easy and free! At our live auction, you just show us your valid driver's license and we enter you into our auction system. On our online auction platform, you also need to register. During this process, you create a username and password and fill out similar information. Once you are registered in our system, you are ready to bid!
Are there reserves on auction items?
The vast majority of items are sold to the highest bidder. Through our frequent seller program and special cases, some items have a soft reserve. Our best effort is used to create a fair market for our buyers and sellers.
Where do you get your items for the auction?
The items we get for auction come from many sources. A lot of our vehicles come from new car trade-in's, bank repossessions, bankruptcy estates, auto dealers and people just like you! We also receive items from executors of estates, business liquidations, etc. Whatever the reason, we would be happy to help you liquidate your merchandise as well.
What does it cost for me to sell at your auction?
We have various programs that we use. It's always best to give one of our sales coordinators a call so they can discuss what program is the best fit for you. The most common is a sliding scale percentage based on the individual lots sold
Do you know if anything is wrong with this item?
All merchandise is consigned to us by sellers. When a seller brings in their items, they disclose any major mechanical issues or damage they know of and we pass that information on. However, we highly encourage you to come inspect thoroughly the items you are interested in. If it's a vehicle, we encourage you to take it for a test drive on our lot and if you want to bring your mechanic down for their inspection, we have no problems there! Just remember, once we say "SOLD" that item is yours, so we encourage you to know what you are buying.
How do I place a bid?
We want your auction experience to be convenient and easy, so we have put in several different methods for you to bid.
If you are at our live auction, you use your bid card to bid. The auctioneer will call in a dollar amount, when the auctioneer is at a point you want to bid, hold your bid card up high and proud so he can take your bid.
We also offer online/webcast bidding on most items in our auctions. You log in with your username and password and bid from the comfort of your home or cell phone.
What if my item I consigned only brings $1.00?
The auction method is, and has long been, the most efficient method to determine the true market value of an object. It brings sellers and buyers together in a public forum, that through the process of competitive bidding, yields the most accurate indication of fair market value. In a competitive bidding market, buyers must compete until the maximum price is reached. Items that are properly promoted through the auction reach the potential buyers that result in your items bringing fair market value.
What forms of payment do you accept and how long do I have to pay for my items I won?
Our terms require payment the day of the auction; however, we will be happy to hold your personal check for a few days until you can finalize the loan or transfer funds. If that is the case, you will need to let our office know your circumstances. We are happy to accept cash, check and credit/debit cards. There is a 3% charge when using your credit and debit cards, so keep that in mind when paying.
What is a buyer's premium?
In most areas of the country, it is standard practice to charge a buyer's premium. The buyer's premium allows us to provide a good auction experience for you, the buyer, and to keep the seller's commission lower to maximize the quantity and quality of items we have up for bidding.
The buyer's premium is added on to each item won:
5% buyer's premium on items $2,501 and over.
10% buyer's premium on items $2,500 and under
Will your company just buy my merchandise instead of auctioning it?
Although we believe in the auction method, sometimes a seller's circumstances do not fit within our criteria. So yes, we would be happy to look at your items and see if we can come to an agreement