POLICY STATEMENT, BIDDING PROTOCOL AND TERMS FOR THE EVENT
Tiger Auctioneering Licensed (WA Lic# 2730 ID#225), Bonded, Insured, BBB Auction Company (Lic#2358)
Selling by Auction dates back to the time of the Roman Empire and a well advertised public Auction Event is recognized Worldwide as a method of selling any type of property at true current market value.
Sometimes we have people attending an auction for the first time and are not sure of how they bid on items they want to buy? This is how it works... A Bidder must be registered and have a Buyer's Number. The Auctioneer typically declares a practical purchase price or opinion of value with the amount the bid calling begins at and then the amount is lowered till a Bidder opens the bidding at a price usually far lower than the amount the Auctioneer has indicated as an actual value. Once the bidding is opened then competitive bidding will raise the amount bid by what is called a bid progression. Bid progressions usually follow some structure of the Auctioneer's choosing and then are icreased by amounts of 2.50, 5.00, 10.00, 12.50, 25.00, 50.00 or 100.00. More expensive items follow the same pattern and increase by as much as 1,000.00 or as little as 50 or 100.00. To bid simply raise your hand or bid card (for better visability) each time the bid is increased till you either become the winning bidder or the items exceeds the maximum price you are willing to pay.
An absentee bid is handled the same way as a live bid and will advance the bidding in the same way as live bids do till the maximum absentee bid is reached or becomes tied with a live bidder. For example if a maximum absentee bid is 500.00 and the bidding opens at 100.00 the bid progression may be as follows: 150, 200, 250, 300, 325, 350, 375, 387.50, 400.00, 412.50, 425.00. If the Absentee Bidder is what we call "in at 425.00" and no live bidder is willing to advance to 437.50 then the absentee bid wins at 425.00. The only disadvantage the Absentee Bidder has is when the bidding gets to or tied at teh maximum amount of 500.00. The Live Bidder only needs to exceed that amount to win and the amount of the maximum AB will not be disclosed till that time. The Auctioneer does disclose the name of the Absentee Bidder to assure a fair competition.
The word AUCTION actually means to "sell with reserve". We strongly discourage a reserve, but may agree to one if it is a reasonable reserve, well below fair market value on exceptional pieces. In the absence of a No Reserve/Absolute Auction stipulation, it is the Auctioneer's duty; in fact obligation by law to protect the Seller and reject any bid that is deemed a virtual sacrifice of the Seller's property. Therefore, in order to reach a fair wholesale price or reserve the Auctioneer may start the bidding on behalf of the Seller.
The Owner/Seller or Executor of consigned property may also legally bid on his or her property, but not above a reserve. Bids by the Seller over a reserved price will be ignored. The Seller may also not employ a third party to bid unless the Auctioneer is notified and the same rule applied. The term "shill or puffer" is a person employed by the Auctioneer to artifically inflate the real time bidding with no intention of buying the item being offered. We do not do this on behalf of any seller and do not tolerate this practice by any Seller. While this practice does exist, it has no place at any professionally conducted auction event and is not condoned by the NAA, the State or any reputable Auctioneer.
We want Buyers to get great deals, but the Seller has to feel the auction is beneficial also, or we soon have no quality items to sell. It is our aim at every auction to treat both Sellers and Buyers fairly. We sincerely hope you can appreciate that fact and respect what we try to do. Some of you have, are, or will be consigning items to auction as clients. Our first obligation legally and ethically is to our Clients as their Fiduciary Agent and that benefits everyone by encouraging quality items are always presented on the Auction Block at every auction.
An Absolute Auction means the owner's right to any reserve on any item is waived and the item or real estate will sell to the highest bidder regardless of price. The Auctioneer or auction crew reserves the right to bid at an absolute auction as a private buyer, but not on behalf of the Seller. Many of our auctions that are not stipulated as an Absolute or No-Reserve Auction are usually very close to being Absolute as their may be no arbitrary reserves on any item to be offered, but only subject to the Auctioneer's discretion as to a fair price. This means simply that if the Auctioneer believes a fair winning bid for an item is, say $500.00 or more, then it will not be sold for $100.00 or less than what the Auctioneer considers a reasonable price.
At most of our auctions all items are sold because the bidding exceeds a reasonable price or all reserves even when we do not or cannot declare them absolute. When items do not sell they have a reserve price that is not met because there is insufficient interest in the item. To have a fair auction for any item, at least two people must be willing to bid. Any Auction may be declared an Absolute Auction or a Reserve Auction by the Auctioneer on auction day depending on circumstance before the auction begins, regardless of how it may be advertised. At an Absolute Auction the Auctioneer reserves the right not to offer certain items for sale by bid depending on conditions and circumstances on auction day.
In case of a tie bid, the bidding will be re-opened between the two tied bidders only.
The auction crew may be seeing the items for the first time and in fairness to them and the Seller, they are permitted to bid on up to 5 items. They pay for what they buy just like everyone else and do not get a discount. We allow Proxy bidding and Absentee Bidding is accepted on up to 5 items. The Auctioneer and/or the Clerk will do the Absentee bidding. The word sold is not final, sold out is.
Please show your number each time you have the winning bid, even if we know it. We accept personal checks, business checks, Visa, Master Card and Discover. If you need to make special arrangements or need extra time, please tell the cashier.
We rarely charge a buyer's premium except on large equipment and vehicles. All items are sold as is, where is, unless the auctioneer specifically guarantees an item. The buyer assumes all responsibility at the time the item is entered by the Clerk. All merchandise must be moved from the facility by the following Monday, unless arrangements are made. Buyer's may remove their items from the building during the auction if it can be done without interupting or distracting the other bidders in attendance…we trust your honor to settle with the cashier and be courteous when moving purchased items.
Rearranging the items in boxes is not permitted and we have zero tolerance for anyone caught stealing. Stealing at an auction is stealing from the Owner, from the Auctioneer and from all the Buyer's so thieves will be detained, arrested and prosecuted. In some countries and not so long ago in this one people who steal were hanged, shot or have their fingers cut off. We may pass the hat or ask for donations to help someone who is actually in need or starving, but don't try taking what is not yours or not given to you!
(Statements made on auction day supersedes all printed, website or media material)
In case of a dispute, all our auctions are recorded so pay the amount on the clerking ticket. We will review the recording with you later to resolve the question. Most mistakes are made because our number one rule is broken, so please DO NOT distract or converse with the clerk at ANY time.
The Auction is a non-smoking event, State Law prohibits smoking in the facility or around the Office Trailer. Please restrain from smoking outside the designated Smoking Area. The parking closest to the facility or auction location will be reserved for the handicapped or elderly, please keep this in mind and tell one of the crew if you need parking or help in finding a seat or place for a wheel chair... THANK YOU.
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