Veteran Owned Business

© 2019 by Auctions ASAP Inc. KY Auctioneer License # P3305, IN Auctioneer  License # AU10800084,  KY Real Estate License # 218841

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Kentucky Auctioneers Association National Association of Realtors Indiana Association of Auctioneers Personal Property Appraiser, Certified Estate Specialist, Auction Technology Specialist, Certified Auctioneers Institute

Frequently Asked Questions

 

Do you have an inspection period before the auction?

 

Yes, however the length and timing depends on the type of sale.  Smaller sales, including most estate sales, the inspection period normally will be the same day but limited to a few hours before the auction begins.  On larger sales including online sales of equipment and real estate there will normally be a time and day for inspections prior to the sale date.  Sometimes inspection opportunities will vary and it is strongly recommended to check the website for details.  If you need additional help, contact us prior to the sale.

When should I arrive at the auction, and is it necessary to bring anything?

It is recommended that you show up to the auction 30 minutes before that sale starts if not earlier.  To avoid any lines in the registration process and to continue your inspection of those items you’re interested in get there with time to spare.  Be sure to bring your valid state issued ID as it will be required to obtain a bidder number.  Make sure to bring one of the approved payment methods, cash, check or another approved method.  Bring a copy of your valid resale certificate if you have one.  Should you intend to remove anything that requires powered equipment or that the process of removing your item has the potential to damage the facility be sure to provide us a copy of your business liability insurance in the minimum amount of $1,000,000.  In some cases, we may require your provider to acknowledge that you are indeed insured for this specific event and location.

 

Can I bid online?

Yes, you can bid online and its fairly easy to do.  Click on the link for the online bidding and it will take you to the bidding platform.  Once there you will need to register by filling out all the information including your credit card info.  Once verified and approved you can start bidding on those items you’re interested in.  The process is self-explanatory and very easy to do.  If you don’t have time to follow the auction as it closes, you can leave a maximum bid and the software is designed to place bids in increments as needed to keep you in the winning position up to your maximum bid.   Once the auction is over we will normally charge your credit card for those items you’ve won so make sure your limit is enough.  

 

Can I place an absentee bid? 

Yes, we normally allow absentee bids on items of higher value.  You must register and place the absentee bid for the auction a minimum of 24 hours prior to its start.  In some cases, a deposit may be required so be prepared to write a check or make a wire transfer for 25% of your bid.  When we place your bid it will be at the auctioneer’s discretion and will be placed in a competitive manner.  Please keep in mind that depending on the bid increment it is possible that your bid may not be the winning bid even if the item sells for the same amount.  Example – If you leave an absentee bid for $1000 and because of the bidding we have you in at $900 and the next competitive bid is for $1000 from another buyer you will not be the winner.    

 

What is a buyer’s premium?

The buyer’s premium is a fee normally a percentage that is added to the winning bid.  Buyers premiums we use are between 5% to 18% and normally 10% depending on the sale and whether or not its conducted online.    The buyer’s premium is used to offset the costs of the sale.  For more details please check the auction event information posted on the website or on the advertising.

 

What item will the auctioneer start selling first and when will he sell the items I’m interested in?

In cataloged sales, we will normally start with the first lot and work through the catalog in order.  In non-cataloged sales, we will make announcements trying to convey to the buyer how we will proceed.  In a non-cataloged sale, be sure to follow along with the auctioneer so that you don’t miss anything.

What are the payment terms and types of payment?

All purchases must be paid in full immediately following the sale.  No items can be removed until payment has been made in full.  Please check the terms and conditions as the following payment forms may vary from sale to sale.  We normally accept payments in the form of:

  • Cash (preferred in most cases)

  • Business or Personal Check with Bank Letter of Guarantee

  • Bank to Bank Wire transfer if a prior deposit has been made (consult Terms & Conditions)

  • Credit Cards are sometimes accepted if the seller has approved (consult Terms & Conditions)

 

When and how can I remove my purchased items?

Normally the removal period is stated in the terms and conditions as it varies from sale to sale.  We will allow for remove when you have paid in full and the auction has concluded.  Most smaller sales we require that you remove everything possible that day.  It is highly recommended that all smalls be removed immediately after the auction has concluded.  Larger items including equipment are normally scheduled the day after or during the following week or two.  If the items require rigging, we will be glad to provide a list of approved riggers.  If you use a rigger not on our list as long as they can provide the insurance, equipment and expertise that’s fine.  Our staff will not provide any packing, loading, rigging or shipping services.

 

Do you provide security for my purchases?

For most sales, it is very challenging to provide security on every item that is sold if not near impossible.  It is the buyer’s responsibility to look after those items you bid on immediately after your bid is recognized as the winning bid.   Its best to bring a friend if possible to help keep track of your item.

Is there sales tax on my items and am I responsible for it?

Most sales we conduct, the state or local municipality will require us to collect sales tax from the buyer.  Unfortunately, we cannot waive this unless you have a valid resale certificate and are willing to complete and sign the necessary forms.  For more information contact us prior to the sale.