Auction Tips
Top 10 Tips
Auctions are a lot of fun
and since it doesn't cost
anything to attend, you
can always go as free
entertainment and get the
feel of how auctions are
held.
If you're new to the
auction scene and are
interested in bidding, here
are some tips from the
expert!
1.) Call to know payment
policy - cash only, types of
credit cards accepted or
checks.
2.) Arrive early
3.) Get a Buyers Number &
bring your Drivers License
Sed justo.
4.) Look at all the items
you may want to bid on.
Inspect before you bid.
Sold as-is
John Brommel 512-451-7633
Bruce McCarty 817-991-9979
Auction License #11698
Issue #: [Date]
If you're hooked on auctions we will be
happy to give tips and questions to ask
those who are interested in using the
auction format to sell their goods. An
auction sets the highest value and when
you sell via other means, you have to
set the value and often folks will under
price their own merchandise.
• Check out the reputation of
the auction house
• How active is the action
house
• Do they have regular auctions
• Look for auction houses that use all
means available for marketing.
• Have a question about an auctioneer?
Check the Better Business Bureau.
• Find out what you will pay as a
commission. As an example, rates
can range anywhere from 2% to 50%
at Auction Systems
It's hard to tell what are the best things to
sell at an auction as things fall in and out of
popularity. There are always hot trends. If
something has a good provenance it will
usually sell well.
Dolor Sit Amet
5.) If you are the winning buyer:
Congratulations!! It is yours!
6.) Pay for your purchase
7.) Go to load area & be sure to get
everything you purchased
8.) If you are shipping be sure to have
all details for shipment prior to buying
9.) If you have questions, ASK before
the auction starts
10.) PLAN - have a budget & stick to
it.
Start bidding & have fun
John Brommel 512-451-7633
Bruce McCarty 817-991-9979
Auction License #11698
2
Issue #: [Date]
Dolor Sit Amet
BUYING AT AUCTION: An Easy & Fun Way to Buy What You Want at
Prices You Want to Pay!
Auctions are different in that you, the bidder, set the price you are willing to pay. Read
on, and find out how simple it is to buy what you want at the price you are willing to pay.
1. Registration:
When you arrive the auction, you will see a clerk who will obtain information from you
and give you a number that is uniquely yours for that auction. This is how we identify
you. This number is placed on a card.
2. Types of Auctions:
A. Absolute Auction - All merchandise or property is for sale to the highest bidder,
regardless of price. Of course, don't be expecting that you will pay $5.00 for an emerald
ring. Other bidders will raise that price, until only one person is willing to pay the price
called. This is called "last man standing". The highest bidder wins the item.
B. Reserve Auction - The item being sold is for sale, but only if the price the buyer is
willing to pay meets a minimum set by the consignor. If no person is willing to pay at
least that price, then the item is not considered sold, but often the offer is passed along
to the consignor. Typically this is done on very expensive items, such as real estate or
rare, fine art.
C. Dutch Auction - In a Dutch Auction, the price starts high and works backward until a
bidder accepts the item at the price cried. Usually the first recognized bid at that price
wins the item.
D. Choice - This type of auction is used in circumstances similar to a Dutch Auction
when there are multiple identical or similar items from the same consignor, such as a
knife or book collection. The highest bidder can select as many of the items for sale
times the amount they bid. Say, for example, we are selling 15 carved deer
I look forward to personally meeting everyone in Fort Worth on
October 14 & 15, 2011. We are going to have another World Class Big
Game Trophy Mount & Western Auction. Please feel free to contact
me for details. 512-451-7633
www.taxidermyking.com
-John Brommel
http://www.facebook.com/TaxidermyKing
3
statues. The highest bidder wins at $75.00, and wants to buy 4 of them. He pays $75.00 X
4, or $300.00, and gets to take the four he wants. The remaining items will be offered at
the same price. If no one else wants one or more at that price, the auctioneer will ask the
next highest bidder if he would like one or more at his bid. If so, the process is repeated. If
not, the auctioneer typically opens the bid up again.
E. By the Piece, Times the Money - Similar to a Choice auction, this is usually done when
there are lots of relatively expensive items grouped together, such as silver dollars. Say
there are 12 silver dollars in the sleeve and the auctioneer decries "By the piece, times the
money". The highest bidder is willing to pay $20.00 per coin, times the 12 coins in the
sleeve, or $240.00 for the entire sleeve. Under this type of auction, the highest bidder is
obligated to take all of the items, times the amount they bid.
3. Bidding:
The customer raises their card to indicate their desire to bid. Auctions are very fast-paced
and the customer must be careful to insure the auctioneer recognizes their bid. Frequently,
customers stand at the sides, or to the rear of the auctioneer where they cannot be readily
seen. In these situations, the auctioneer will not be upset if you shout loudly "Yes", to
insure your bid is recognized. If you wish to own an item, make sure to be recognized
early, so the auctioneer watches for additional bids from you. He will not allow you to raise
your own bid, so if he recognizes your $50.00 bid and is seeking a bid of $60.00, and you
keep your card up, he will not increase your bid to $60.00. If someone else bids $60.00, he
will look back to you to bid at the next increment. If you wish to pay that price, raise your
card again, or if you REALLY want an item, leave your card up until all other bidders drop
out. Don't wait too long before deciding whether you wish to bid or not, once the auctioneer
cries the item is sold, he cannot accept further bids.
4. Payment and Terms:
[Street Address]
All sales are considered final at the cry of "Sold!". Once the item has been "knocked down"
[City], [State][Postal Code]
to
you, you legally own the item and are legally obligated to pay for it, under the contract of
sale governing auctions. However, you may not legally remove the item from the site of the
sale until it has been paid for.
5. As Is, Where Is:
All merchandise sold at auctions is considered as-is, where-is. What this means is that the
auction house does not provide or imply a warranty as to condition or authenticity. You
must rely on your own knowledge and inspection of the merchandise prior to placing a bid.
So there you have it, the full auction story! With a little knowledge and some practice you
will be on your way to buying what you want, need or collect at a fraction of the retail
price! See you October 14-15, 2011 at our next World Class: Big Game Trophy Mount
& Western Auction in Fort Worth, Texas!
http://www.facebook.com/TaxidermyKing www.taxidermyking.com 512-451-7633