Home » How Auctions Work

How Auctions Work

Getting Started!

Participating in an auction is simple and fun! If this is your first auction, breath easy. Our team is here to help educate you on the process. When attending a real estate or personal property auction you will be required to register at the event. You will receive a bidder number assigned to you for purchasing a property. For personal property auctions, a State issued ID or driver’s license is required to acquire a bidders card. All terms for the auction are posted at registration and on our website under the specific auctions. Typically, cash, check , credit card are acceptable at personal property auctions. When you’re finished with purchases, be sure and cash out immediately. You will then receive a paid invoice. Real Estate auctions typically require a set deposit amount that is set forth in the terms and conditions of the brochure. No credit cards are accepted on a real estate deposit.

Any changes are announced from the podium once the auction commences.

Purchases are “as is” which means items are selling without a warranty. Be sure and inspect any items prior to the auction. Our firm does it’s best to convey any known defects. All auctions have an auction manager. Feel free to contact the auction manager for specific questions and information.

Preview Times.

The preview time is always one hour prior to the auction on personal property and real estate auction that are held onsite. Preview dates and times for online auctions vary. Times are posted on the auction brochure or contact the auction office for more information.

Auction Time!

After the auctioneer goes over the terms on the auction the bidding begins. It’s good to determine what you will bid in advance of the items selling. Auctioneers move quickly and it’ important to be seen and recognized. Auctioneers can take multiple bids simultaneously. Bid assistants are at the auction if you would you need assistance. Once an item is awarded to your bid number, it is your responsibility in personal property auctions. In real estate, once you bid on the item and it is sold, a contract will be written and possession of the property is after closing or per the terms of the purchase agreement.

Share