Different Auctions for Different Purposes

This post was written by Luanne

 

What do you think of when someone says the word “auction”, or says that they are going to an auction? Do you immediately think of a bunch of upper-class people dressed to the nines, sitting on fancy chairs,  silently holding up a paddle to bid (or lightly touching their nose or giving an almost imperceptible nod of the head) while an auctioneer is dressed in a tuxedo with tails and the ringers in evening gowns and tuxes show off the items like Vanna White? Or do you envision of a bunch of county farmers chewing on strands of straw, standing around […]

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2016-08-27

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Everything you wanted to know about auction bingo lingo–part 2

This post was written by Luanne

 

Welcome back to “Everything you ever wanted to know about Auction Bingo Lingo! As promised, here are a few more words that you may see and hear at live auctions. Terms & Conditions: Since I mentioned “Terms & Conditions” in “As Is” in the last blog , I figured I better define that. The terms and conditions are a list of the rules of the auction and certain aspects of the purchase/sale agreements. This list may include things such as items are saying that items are sold as-is, stating buyer’s premiums to be charged, the amount of sales taxes that […]

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2016-08-23

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Everything you wanted to know about Auction Bingo Lingo–part 1

This post was written by Luanne

 

Everything you ever wanted to know about Auction Bingo.  I mean Lingo…   I remember one of the first auctions I ever went to. I was an adult. It was cold. It was drizzly. I was pregnant. I was tired of waiting. My husband was buying things that I saw no purpose for at all while waiting for the one thing he (note, he, not me) really came to the auction for. (“But it will look neat hanging up on the wall” he said…”Not in MY house”, I said”…) And then there was the lingo…   Sometimes it did feel […]

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2016-08-20

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How bidding works with internet absentee bidding using HiBid on hueckmanauction.com

This post was written by Scott

 

This video attempts to explain some questions that people have about absentee bidding.

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2016-08-17

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What is a Buyer’s Premium and why do Auction Houses charge them?

This post was written by Shanna

 

A lot of people don’t understand what a buyer’s premium is or why auction houses even charge them. Not every auction house will charge a buyer’s premium, however more and more auction houses are choosing to charge a premium.   So what exactly IS a buyer’s premium? Simply put, a buyer’s premium is a additional charge, usually a straight percentage, that a buyer is charged based on the hammer price. This becomes the actual price that the buyer is charged for the item when checking out. For example, if Bob is the winning bidder on a table and chair set […]

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2016-08-16

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How Does an Auction Work?

This post was written by Shanna

 

If you are new to auctions you may have many questions about them. One of these questions might be “How does an auction work?”. The answer to this question can vary depending on the type of auction that it is.   Let’s start by explaining what an auction is. An auction is where property is sold at a specific time and place to the highest bidder. Most auctions require a person to get a bidder number or other identifying item prior to bidding. When an item you want goes up for bid it will usually start low. The auctioneer will raise […]

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2016-08-04

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