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Frequently asked questions about the
auction business...
auction business...
This is my first auction, how do I bid?
1] - register to bid by going to the cashier and filling giving her your
personal or company information.
2] - look over the items offered for sale at the preview, determine
how much you are willing to pay for each item you have interest in.
3] - As the auction items are placed up for bid, simply raise your bid
card.
4] - If you are not sure if you are in or out, or the high bidder, ask any
of the ringmasters, (floor crew), they are there to assist you in
bidding and understanding the auction process. Simply raise your
bid card again. The auctioneer will not let you bid against yourself.
What does the term Reserve and Absolute mean?
Absolute means the personal property will be sold to the
highest bidder, regardless of price. There are no minimums or
reserves at this type of auction. Some auctions have items with
reserves while all other items are sold absolute. Florida auctioneers
reserve the right to pass an item or items if a reasonable bid is not
received in a reasonable amount of time.
Reserve means an item or items have a minimum price they much
reach before they will sell. Sarasota Auction always announces the
reserve price if it is not met
in the course of bidding, and gives the bidders the chance to bid
again.
What is a buyer's premium?
A buyers premium is an amount of money, usually a percentage,
that is added to the bid price to determine the total purchase price.
This buyers premium is intended to cover the cost of the employees
working the auction sale.
REMEMBER THE MOST IMPORTANT THING
TO DO AT AN AUCTION IS TO HAVE FUN
AND RELAX.
IF YOU HAVE A QUESTION, ASK IT. WE
ARE THERE TO HELP, AND MAKE SURE
YOUR AUCTION EXPERIENCE IS ONE TO
REMEMBER..........
1] - register to bid by going to the cashier and filling giving her your
personal or company information.
2] - look over the items offered for sale at the preview, determine
how much you are willing to pay for each item you have interest in.
3] - As the auction items are placed up for bid, simply raise your bid
card.
4] - If you are not sure if you are in or out, or the high bidder, ask any
of the ringmasters, (floor crew), they are there to assist you in
bidding and understanding the auction process. Simply raise your
bid card again. The auctioneer will not let you bid against yourself.
What does the term Reserve and Absolute mean?
Absolute means the personal property will be sold to the
highest bidder, regardless of price. There are no minimums or
reserves at this type of auction. Some auctions have items with
reserves while all other items are sold absolute. Florida auctioneers
reserve the right to pass an item or items if a reasonable bid is not
received in a reasonable amount of time.
Reserve means an item or items have a minimum price they much
reach before they will sell. Sarasota Auction always announces the
reserve price if it is not met
in the course of bidding, and gives the bidders the chance to bid
again.
What is a buyer's premium?
A buyers premium is an amount of money, usually a percentage,
that is added to the bid price to determine the total purchase price.
This buyers premium is intended to cover the cost of the employees
working the auction sale.
REMEMBER THE MOST IMPORTANT THING
TO DO AT AN AUCTION IS TO HAVE FUN
AND RELAX.
IF YOU HAVE A QUESTION, ASK IT. WE
ARE THERE TO HELP, AND MAKE SURE
YOUR AUCTION EXPERIENCE IS ONE TO
REMEMBER..........
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