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Live Auction FAQs
A: In a Live-Only Auction, bids are only accepted from the auction floor from bidders who are physically present at the auction. There is no online bidding for the auction. American Auction Company conducts very few of these type of auctions and typically only if the location is so remote that internet access is not available.
A: Here's how the live auction process works:
On auction day, local bidders can register for a bid card from a cashier in order to place bids on any item. In addition, bidders can pre-register for an auction using a link on the auction page and print their bid card from home. This will enable them to begin bidding as soon as he/she arrives at the auction location, bypassing the cashier station. In both cases, a refundable deposit is required to receive/print a card.
When the auction is about to begin, the auctioneer announces the terms of the sale so all bidders are aware of their responsibilities in bidding.
When a bidder is ready to make a bid, they simply raise their hand or their bidder card and the auctioneer and/or ringman acknowledges the bid.
The ringman assists the auctioneer in spotting bids, holding up merchandise so the bidders can see the item for bid and putting lots back in place once sold at auction.
Upon the successful winning of the bid, the auctioneer announces the winning bidder number and the final bid amount, which the auction Clerk then enters into the clerking software (and manually as a back-up).
This information is recorded and available to the cashiers in real-time, enabling live bidders to pay for purchases as soon as the auction lot is sold.
The bidder can pay by cash, credit card, or cashier's check. In most cases, the bidder must remove his/her property from the auction location immediately following the sale or during the published load-out schedule for that auction event.
A: If you are a registered bidder online who wishes to attend a live auction, stop by the cashier and provide the credit card used to register online and you will be given a live bidding card. If you aren’t registered online, the cashier will have you complete a short registration form and leave a deposit of $200 or a valid major credit card to be held until you check-out from the auction. You will then receive a live bid card.
A: Not if you are a registered bidder online. Just stop by the cashier, produce the credit card that you registered with online and you will be given a live bidding card. If you aren’t registered online, you only need stop by the cashier and complete a short registration form and leave a deposit of $200 or a major credit card to be held until you check-out from the auction.
A Simulcast Auction is an auction where Internet bidders are able to bid in real time at the same time as live bidders who are physically present onsite at an auction location.