| Frequently Asked Questions About Our Auctions |
Frequently Asked Questions Here are some answers to questions that are often asked about Sammy’s Auction Inc, Hopefully they will help you to find the information you're looking for. If not, please email us your question to 123@samtamir.com How do I get on your mailing list? Call our office at 800.860.0204 Or 305.491.1326 LAST BID with your name, your company name (if applicable), your address, your phone & fax numbers, and what types of auctions you are interested in. I used to receive brochures in the mail, but I haven't received one for some time. What is happening? Due to budget constraints, sometimes brochures are sent only to those that live in the areas nearest the auction site. If you have moved recently, the post office may not have provided us with your new address. Call our office at 1-800 860 0204 or send us an e-mail at 123@samtamir.com including your name, your company name (if applicable) and your address, and we will be happy to update your listing. Also include a daytime phone number so that we can contact you if we have questions. We do email a link to the brochures on all our auctions regardless of location. To make sure you get information on all upcoming auctions, sign up for an email list. What is my express number? Your express number is assigned to you by our computer when you are added to our mailing list. It normally appears on your brochure on the first line of your mailing label. When you bring your brochure with the express number to the auction site, it greatly expedites the registration process of getting your bidder number. How do I register to bid? Upon arrival at the auction site you should first go into the auction office to register and get your free bidding number and sale catalog. Included in the catalog will be a sale day listing that has a list of all the items in the order they are being sold with their descriptions. Check to see if the Catalog for the Auction of interest to you is posted online, normally the day before the sale.When registering, you must present a piece of photograph identification, such as a driver's license. If you have your brochure with your express number on it, please also present it to expedite the process. The office staff will then fill in your name, address, the company you represent (if any), phone number, driver's license number, tax exempt status and ask you how you heard about the auction (brochure, an ad in the paper, the sign, word of mouth, etc). You will then be asked to sign the bottom of the bidder number form. You will also normally be asked to review and sign the "Bidder Terms." Once you have received your bidding number you will be able to bid on any of the equipment in the auction sale and will be held responsible for any purchases applied to that bidding number.
What are your terms of payment? The terms of payment, while similar at all of our auctions, may vary slightly depending on the details of the auction. We allow payment by cash, credit card (MasterCard, Visa, Discover), cashier's check or a bank money order. Personal or company checks are accepted with a letter of guarantee from the purchaser's bank. Purchases must always be paid in full on the day of the sale. No purchases shall be removed from the auction site until the total amount owing is paid in full, including applicable taxes. We require bidders to sign a bidding agreement honoring these terms.If you have remaining questions about the Terms, please contact the auction manager or email us at: 123@samtamir.com At the start of every auction, the auctioneer will also explain the terms and conditions of the auction to the bidders. Do you take credit cards? Do you offer financing? We do accept credit or debit cards at our auctions. Occasionally, the company for whom we are having the auction will offer financing with pre-approval. This is usually indicated on the auction brochure. We accept MasterCard, Visa, and Discover. (WE DO NOT ACCEPT CREDIT CARDS FOR REAL ESTATE AUCTIONS) What if I am unable to attend? Can I place an absentee bid? Our Company does provide a service to customers who are unable to attend an auction but wish to purchase one or more items in a specific sale. This service is referred to as absentee bidding.When you place an absentee bid, our company will call the bids on your behalf up to the maximum amount specified by you. The bidding does not start with your bid unless a higher absentee bid has been received from another bidder. Once the bidding has been established by the crowd, your bid will be entered at the next increment being asked for by the auctioneer. As long as bids are coming from the crowd, we continue to bid on your behalf until either the bidding from the crowd has exceeded your maximum bid, or you are the successful high bidder.Absentee bids must be submitted sufficiently in advance of the sale in order to be processed. A deposit of 25% of the amount being bid must be received by our company clerk before the bid is accepted. Although you can sometimes place an absentee bid on sale day, you are strongly advised to allow a minimum of 24 hours for a bid deposit to be received and confirmed.You will be contacted after the sale and advised of the selling price. If you were successful you will be informed of the balance owing and asked to immediately pay and remove the unit or product handled. If your bid is not successful your deposit will be promptly returned to you. What are the terms of payment for an absentee bid? The terms of payment for a successful absentee bid at an auction are identical to the Terms of payment at that auction. (see above) Proxy bidders must place a deposit of 25% of their bids.
How will I know if my absentee bid has been successful? If you were the successful bidder, you will be contacted by phone, and an invoice will be faxed to you with all the details. At that time youor within 3 days of the auction in question. When time permits, we will telephone you from the auction site to indicate whether your bid was successful or unsuccessful. Please feel free to call the office to find out whether or not your bid was successful. What goes on at an auction? An auction consists of two parts: a preview period and a bidding period. During the preview period, all the items are available for inspection. This is to allow the buyers to inspect the merchandise and decide for themselves what they're willing to pay for it. During the bidding period, the auctioneer will offer each item up for sale and accept bids on it. The auctioneer asks for a starting price (an "opening bid"). If nobody accepts this bid, he will lower the opening bid until someone accepts his offer. He will then slowly raise the price as other customers show interest in the item. As the price rises past the personal limits of the various bidders, the bidders stop bidding. The last person to make a bid (i.e. the one willing to pay the most for the item in question) "wins" the bid and gets the item. Bidding then proceeds to the next item. What is a Buyers Premium (BP)? The auctioneer (and/or the company who employs the auctioneer) gets a 15% percent of all proceeds. It is added onto the "hammer price", and the buyer is responsible for paying. Ask the people running the auction before the bidding starts and keep the answer in mind when bidding. What is an Opening Bid - The firs bid at an auction.
Okay, I've found an auction. What should I bring with me? Driver's License, Cash, Personal Check, Cashier's Check Company Check (with prior auction approval), Credit Card (MasterCard, Visa, Discover) and Bank Reference, if appropriate. Make sure you're equipped to spend several hours at an auction. Bring a pen and paper. Normally there is a catalog listing the items for sale, but you'll want space to write down phone numbers of people you meet, descriptions and notes about some of the items you're interested in, and the winning bid for each item. Above all else, make sure you've got appropriate transportation. Normally we also contract with a vendor to provide a lunch wagon throughout the auction. Why is everything sold "as-is"? " As Is" - Selling the property/equipment without warranties as to the condition of the property/equipment. Buyers are held responsible for inspecting the property/equipment for their own protection. Also known as "As Is, Where Is" and "No Warranties or Returns." because this items are sold at public auction to the highest bidder. Because a great deal of money and time is invested in selling at the auction, the items are sold "as-is" to assure a final sale of all items on the auction. Typically you will be able to see and inspect the items in operation during the inspection times before the auction.
Auction With Reserve - An auction in which the seller has a minimum acceptable bid on a property/equipment being auctioned. The seller may reserve the right to accept or decline any bid. Any reserve auction items will be announced prior to the auction. Auction Without Reserve / Absolute Auction - An Auction in which the property/equipment is sold to the highest bidder with no minimum amount. The seller may not bid on their own property/equipment personally or through an agent. It is also referred to as an auction without reserves.
When should I arrive at the auction? Plan to arrive at least an hour before auction time. This gives you time to get registered and completely go over the item(s) that you will be bidding on. Decide for yourself what condition the items are in and what you'd be willing to pay for each of them. Dress comfortably, sometimes air conditioning is not available in select locations. PAY ATTENTION - auctions are very fast paced. You must follow where the auctioneer is and what lot or property/equipment they are on or you may bid and buy the wrong one. You are responsible for all your bids and will have to pay for the property/equipment once your are the highest bidder. Bring your own packing supplies/Truck and man power to move the property/equipment. Or be prepared to make arrangements and pay for an outside moving company to do it for you. How much do you think Item X will sell for? It is impossible to gauge how much an item will sell for. It all depends on how much any buyer is willing to spend for the item. After the auction, how do I find out how much an item sold for? The best way to find out the selling price of an item is to be at the auction at the time that piece is selling. After an item sells, the price is provided only to the buyer and seller. Selling Your Assets, Equipment Etc... If you are interested in selling your assets, equipment or the like - whether it's one piece or an entire shop - turn to Sammy’s Auctioneering Inc. By selling your Assets, Equipment Etc... At Sammy’s Auctioneering auction, you are truly selling your equipment to the world.Thousands of customers travel to our auctions every year because they know they can count on US to provide a good selection of construction, industrial, farm equipment, car, equipment, electronic, computer, furniture's, watches, business, Antiques, Art, Estates, Boats/Yacht, Guns, Real Estate, Agricultural, Charity Auction-Benefit Auction, & On Line Auctions. Once you sign a Contract to Auction with ST Auction Inc, all the details will be taken care of for you. You can focus on your normal business, as Sammy’s Auctioneering team goes to work preparing for auction day.
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