Why would someone sell at auction instead of pricing their items?
Auctions are fast and efficient, and they reflect the true fair market value of merchandise. When an item is "priced" it is usually either underpriced or overpriced. Either way, the seller takes a risk. If the price is too low, it sells to the first bargain hunter who finds it. He then sells it for the profit that should have been the seller’s. If the price is too high, the item does not sell. It then has to be advertised again at a lower price or negotiated through haggling with one person at a time. At auction, all serious potential buyers are brought together to compete, and the seller is assured of fair market value. It is a time-honored process that is also hassle-free.

  Can you really get a bargain at auction?
Absolutely. It happens at every auction. However, keep in mind that, like beauty, a bargain is in the mind of the beholder. One person might say, “That guy is nuts to pay $800 for an old doll,” while the buyer is thinking, “I just got a bargain at $800! I saw a doll just like this in an antique shop for $1,000.” Just don't be fooled by those late-night television shows promising you can make a million dollars by buying at government auctions. It might be possible to buy a battleship for $1, but you have to remove it from the bottom of the ocean by the end of the week! That is where another old adage kicks in: “There’s no such thing as a free lunch.”

  Do items come with guarantees?
No. At public auction, all items are sold as, is where is. Once you have won the item, you own it and there are no refusals, markdowns or returns. For this reason, it is important to preview items of interest and be sure of what you are bidding on.

  What does “fair market value” mean?
Fair market value is the price for which an item will be sold on the open market by a willing seller to a willing buyer, neither of whom is under compulsion to buy or sell as of a specific date. As such, it is the price that an item will fetch at a well-advertised auction. Common factors that come into consideration are age, condition, quality and rarity. Auctions are the last niche of the free enterprise system, where the laws of supply and demand prevail.

  Do you post a schedule of your auctions?
The best way to make sure you are always notified in advance of our auctions is to join our email list. Prior to each antique & estate auction, we send out a brief reminder of the event. A few days before the auction, you will receive another notice letting you know we have posted the catalogs to our website. We DO NOT sell our list to marketers or send you “spam” emails. We do keep our auction calendar updated regularly, so be sure to check back often for newly posted events.

  How do I register for an auction?
First time bidders need to bring a photo ID (preferably a driver’s license) so that we can enter you into our database. Registration is free, and our catalog is also free for first-time bidders (it is usually a $1 donation to St. Jude’s Children’s Hospital). You will need to sign our standard Terms & Conditions, and if you are buying for resale as a dealer, you will need to furnish a copy of your tax exemption certificate. Once you are registered, you will receive a bid card with your bid number on it. This number will be valid for that auction only. The next time you come, you will not need to show your ID. Just tell us your name and we will register you from within our system and issue you a new bid number for the auction.

  As a first-time bidder, what do I need to know before I bid?
Before bidding, read the Terms and Conditions very carefully so that you know what to expect regarding bidding, payment, removal of your items, and a number of other important details. This Frequently Asked Questions section may also provide the answers to many of your questions. Our most important word of advice is that you should thoroughly preview the items you are planning to bid on, know the most you are willing to spend, and have a way of getting your purchases home before you start bidding. Once you have bid on an item and won it, you own it. If you have not previewed or have paid more than you planned, you will still be expected to honor your bid and remove your items promptly. Just be sure to know what you are buying and pay only what you think it’s worth, and you will be an expert bidder in no time at all.

  What is a “reserve”?
A reserve is a confidential minimum sale price set by the seller. For example, if a seller does not want his item to sell for less than $50, then $50 would be the reserve for that lot. Typically auction companies that work with reserves charge a "buyback" fee to the seller if the item does not sell. The buyback fee is usually a percentage of the highest bid received at the auction, and it is used to help offset some of the auction company’s costs for marketing and auctioning the unsold item.

  What is a “Preview”?
A Preview is a free public showing of property to be auctioned. The Preview is an opportunity for buyers to closely examine individual items prior to the auction. Typically, for a Saturday night auction held at our Absolute Auction Center, Preview is on Friday from 3PM until 9PM and on Saturday from 3PM until about an hour after the auction begins. It is strongly recommended that all buyers preview items prior to bidding on them as all auction sales are final.

  What is a “lot”?
A lot is either a single object or a group of objects offered for sale as a unit. All merchandise at our auctions is sold in consecutively numbered lots via catalog. If the "quantity" column in the catalog is a number greater than 1, the bid will be multiplied by that quantity to determine the total bid for the lot.

  How do I bid in person?
To let us know you want to bid, just raise your numbered bid card to get the attention of the Auctioneer or one of the "bid assistants." After the Auctioneer or bid assistant has acknowledged your bid they will know to keep checking back with you for additional bids. If the bidding exceeds your limit, simply shake your head "no" when the Auctioneer or bid assistant looks to you for another bid. If you continue and are the successful bidder, hold up your bid card so the number can be recorded with the clerk. We also recommend that you then write the lot number and winning bid amount on your  bid card in the space provided so you will have a record of your purchases.

  Where does the bidding start?
Bidding starts wherever the auction audience wants to start it; however, it is important to remember that it is not where the bidding starts that matters, it is where it ends that determines the value of the item. For example, the Auctioneer might ask for $100 to start. If no one bids, he will decrease the starting bid amount a little at a time until someone bids. As a result, the item might end up starting at $25 and end at $50, but it also may soar well past the initial ask of $100 and sell for $600. It is the market value of the item that determines its worth; the starting bid is not a significant factor.

  How do I bid on items in more than one ring?
To keep the auction moving along at a good pace while offering a large variety of merchandise, Absolute Auctions conducts at least two sessions simultaneously at each auction. Each session takes place in a separate room known as a “ring.” Each ring will start at a specific time, and the lots in that ring will be sold in number order. Both our website listings and the cover of the printed auction catalog will denote which lots are selling where and the time the auction will start in each ring. If you plan to bid on items in more than one ring, you have several options. First, some bidders move from one ring to the other when a specific item of interest is coming up. This is made easier by TV screens in each ring showing what lot the other ring is currently selling. Second, if you have someone accompanying you, you can request a duplicate bid card each sit in a different ring. Third, you can leave absentee bids for one ring and bid live from the crowd in the other.

  What is a “buyer’s premium”?
A buyer’s premium is the portion of the auction company’s commission that is paid by the buyer. It is used to help keep the consignor’s commission lower while ensuring the auction company is still able to cover the cost of auctioning merchandise. The buyer’s premium is added to the successful bid and becomes part of the total sale price. Absolute Auctions & Realty charges a 13.5% standard buyer’s premium at the Absolute Auction Center and most on-site auctions, with a 3.5% discount for cash and check payments. To help offset the additional usage fees, our in-house (AARBIDS) Internet buyer’s premium is 15%, and the buyer’s premium for eBay bidders is 20%.

  Is it okay if I come to the auction just to watch?
Absolutely! We encourage anyone and everyone to attend and watch the auction. You will be entertained and amazed at the process. Best of all, it's free and it’s fun.

  May I reserve a seat at the auction?
Yes, you may reserve a seat anytime during Preview, up until the start of the auction. If you are not in your seat by that time, the people standing in the room will be invited to take the empty seats. To reserve a seat, stop by the registration window and fill out a "Reserved Seat" sign, then place it on any available chair in either auction ring. Please do not call us to ask us to reserve a seat for you. Our staff already has many responsibilities throughout Preview and the Auction that will need their attention.

  Do I have to attend an auction to bid on a lot?
No, you may bid via absentee bidding, phone bidding or live Internet bidding. Please be aware, however, that you will still be responsible for paying for your items even if you have chosen not to preview in person and they are not as expected. All lots are purchased as is, where is, regardless of how you placed your bids. Therefore, we strongly recommend previewing carefully prior to using any of these methods.

  If I decide to absentee bid, do you start the bidding at my full bid amount?
No. Your bid will be executed by a member of our Absolute Auctions Team and will be handled competitively with the bidding audience. The exception would be if we have to start your bid close to your full bid amount in order to eliminate other absentee bidders with lower bids than yours (these bidders are called “underbidders”). For example, if you left a bid for $100 and someone else left a bid for $75, we would have to open the bidding above $75 to eliminate the underbidder’s lower bid.

  Why did I win the lot for more than my total absentee bid amount?
Because the bidding on any given lot may be a combination of absentee bids, phone bids, Internet bids and floor bids alternating back and forth, someone else may end up bidding at the same increment as your full bid amount. In that event, it has always been our policy to bid “one over” your full amount for you so that you do not lose the lot at exactly your total bid amount. For example, if your bid is $100, but as the bidding begins and alternates, you end up at $90 and another bidder ends up at $100, we will bid $110 for you (or one increment over) just once to try to win the item for you. Bidders leaving bids are aware of this policy and take it into consideration when deciding on their total bid amounts.

  What do I do when I am done bidding?
You are welcome to check out more than once each auction. Whenever you are ready, go back to the registration window. Show your bid card to a cashier and indicate your method of payment so that the correct buyer’s premium percentage will be applied to your purchases. After making payment by cash, approved personal check, MasterCard, Visa or Discover, you will receive an initialed copy of the paid invoice listing your purchases, the buyer’s premium and the total, including any applicable taxes. Bring the paid invoice to one of our checkout staff, who will assist you in finding and removing your purchases. While supplies last, we provide basic packing materials such as boxes and newspaper.

  How soon do I need to remove my purchases?
Due to space constraints and concerns about damage to merchandise, we strongly prefer you remove your purchases the night of the auction. The Absolute Auction Center runs on a tight auction cycle and must reclaim our space as quickly as possible so we can begin setting up for the next event. For anyone who is not able to immediately remove some or all of their items, we also offer pickup hours on the Sunday morning after the auction from 10:30AM until 12:00PM sharp (please note that this time is firm, no exceptions), and on the Monday and Tuesday following the auction from 9:00AM until 4:00PM. Items left here beyond Tuesday will be considered abandoned, so please do not bid on items you will not be able to remove in a timely manner.

  Can I put items in an upcoming auction?
Yes, we would be happy to serve you as our client. Please refer to our Antique & Estate Consignment section for details.