Coming to a live auction is fun and there's really no pressure whatsoever. It's a very social occasion for many and it's not at all unusual to see conversation over coffee taking place throughout the crowd.
How to Start
Before a buyer can place a bid, the buyer registers with the office providing them a name, address and telephone number and possibly some form of ID. The buyer is issued a number valid for that sale day. There's no charge to register and if you are interested in bidding on an item, simply hold up your number. That's all there is to it.
Common Terms used in a typical sale
"So much a piece on choice" - a number of similar items is put up for bid all at once. For our example the staff holds up three life jackets. Bidding commences and the winning bidder is given the option to take one, two or three jackets. If the winning bidder takes less than the total amount, the balance of the items may be offered to the second highest bidder or placed back up for bid at the auctioneers discretion.
"One Money" or "All for one money"- a single winning amount takes all the items currently up for bid.
"Times the money" This means the auctioneer has multiple items for sale (usually identical) and you're bidding on ALL the items. The price you pay will be multiplied by the number of items times the winning bid. If the staff holds up ten t-shirts and the winning bid is five dollars, then the final price of the items is 10x$5= $50.00.
"Job Lot" - a collection of items put together and sold at once, sometimes referred to as a box lot.
Bidding by Staff:
Yes, our staff bid on items the same as anyone else. There is no conflict of interest, the item is available for purchase by anyone and the staff member is openly bidding the same as anyone else, it's totally transparent. The staff member may want that paper towel holder just as much as you, so treat him or her as you would any other bidder in that circumstance. We sell to the highest bidder in order to do the best job for our consignees and if that means a staff member goes home with a great find as the highest bidder, we are doing our job.
Terms of the Sale
Every Auction has what we call "terms and conditions". Basically, a set of rules which govern the auction and how things are handled. By bidding on an item, you are agreeing to be bound to the following terms and yes, it's a contract you agree to when you get a number. These are ours;
Items are to taken out day of sale
unless arrangements have been made prior to purchase.
Payment can be made by Cash, Cheque with 2 pieces of ID (Drivers License and
Visa or Mastercard), Visa, Mastercard and Debit.
Items are to be paid for the day of the sale.
All items sold "As Is" Condition. Where possible we will try electrical items to
make sure they are in working condition.
Auctioneer or Staff not responsible for lost or stolen items. Keep track of your
items that you have purchased. Basically, keep an eye on the items you bought.
The decision of the auctioneer is final regarding the disposition of any item.
Generally, HST is applicable on all
items.
**Although we try to ensure our advertising is accurate and error free, from
time to time mistakes are made. Therefore, all advertising is subject to
additions and deletions prior to sale time.