When It's Time To Sell
  • Business Liquidation • Commercial • Real Estate
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NAA AuctioneerWWCAIowa Auctioneers Association
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Frequently Asked Questions

What is an Auction?

Webster's defines an auction as simply, "A sale of property to the highest bidder." The word stems from the Latin verb "auctio" which means "to increase".

Auctions are used to sell many things. All around the world there are automobile, real estate, personal property, and liquidation auctions, as well as commodities such as tobacco, fish, cattle, racehorses, and just about anything else where there's a market of multiple people interested in buying the same thing. That's the key to an auction - a bunch of people who are interested in buying the same object, and taking turns offering bids on the object. The right to buy that object will go to the highest bidder.

Do I Need To Register Before Bidding?

You are required to register upon entering the auction site, if you intend on buying.  You are permitted to inspect property before you register. The registration process will require you to show your drivers license, give a phone number, and email address.  Your signature will be required making certain you understand the terms of sale.  Upon registering, you will be provided with a bidders' number.

How Do I Buy Items at Auction?

 Once registered, and bidder number in hand, you are able to buy any item up for bid. We accept cash, check, and credit card.

How Do I Bid?

In order to bid at an auction, you need to attract the auctioneer's attention. You can hold up your bidder card, you can wave, or you can shout out "Yes". Many times there will be a bid assistant circulating among the bidders who can also convey your bid to the auctioneer on your behalf. Conversely, if you want to take yourself out of the bidding, just "shake your head no" when the auctioneer looks at you, or answer "No". If you are ever unsure whether your bid is the high bid at any given time, feel free to ask a bid assistant, or the auctioneer to confirm this. The auctioneer wants to provide you every opportunity to place your bid, and will not allow you to bid against yourself.

Terms of Sale

We make every effort to accurately describe the items in each auction. All items sell "AS IS"/"WHERE IS". ALL SALES ARE FINAL.

Is There a Warranty or Guarantee on the Equipment?

We do not provide a warranty, or guarantee on any item being sold at auction, other than ownership. Everything is sold " AS IS-WHERE IS ". You are the professional buyers, so inspect the equipment before you purchase.

Are There Minimum Prices?

All equipment is sold "absolute" regardless of price, unless a reserve, or protect has been placed on the selected item, by the owner.

Is there a buyers premium or title fee?

Maybe!  A buyers premium is at the sole discretion of the seller, and not Blue Hammer Auction Co. We appreciate our customers who faithfully attend the auctions, and don't want to add on extra costs.  However, if a buyers premium is charged by the seller, bid accordingly, and stay within your budget.  We also do not collect sales tax on certain items.  If you have to pay sales tax or title fees, you will pay it when you register the equipment in your home state or county.

How Do I Pay for Equipment If I Purchase Something?

All equipment must be paid in full, at the time of purchase, or up to 1 hour after the auction.  Methods of payment include: cash, cashier's check, personal check, company check, or credit card. 

It is recommended that if you write a check you have a letter of credit from your bank stating they honor, or guarantee your check. This makes the settlement process easier, and speeds up the title transfer process.

Terms of Payment

You must make payment in full on the day of the auction. We accept cash, check, (with 2 forms of ID) Visa, Master Card, and Discover credit cards.

When Do We Get The Titles?

If you pay cash, or equivalant, you will receive your title at check-out. Otherwise the title(s) will be mailed out as soon as your check clears.

Removal?

Once an item has been sold to you, you are responsible for it.

No removal may begin until payment in full has been made.

We will stay for at least one hour following the auction to allow for removal of items.

All remaining items must be removed by the date posted at the auction site, or be subject to storage charges and other fees.

All items purchased must be removed, or a disposal fee will be charged.

When Can We Pick Up The Equipment?

You can take the equipment as soon as you pay for it. However, if you need more time that's not a problem. Announcements will be made the day of the auction regarding the length of time you have to remove your items.

Taxes

If you wish, we will fax, or email you a tax-exemption form for any upcoming auction. Forms will also be available at the auction site. If you are willing to fill out, and sign the proper tax form there will be no sales tax charged. In all other cases, sales tax will be added, where applicable at the local rate.

Refunds and Adjustments

All refunds or adjustments are solely at the discretion of the auction company.

No refunds or adjustments will be made once items have been removed from the property.

What If I Can’t Make It to the Auction But Want to Bid?

If you leave an absentee bid, or a phone bid, the first step to bidding is to contact us prior to the auction date. We can register you for the auction by faxing, or mailing to you a registration form. Just fill it out, sign it, and fax or send it back. Please include the equipment you are interested in purchasing, and the maximum amount you want to spend. At our auctions, we do not start the bidding with your maximum bid. If the equipment sells for less than the maximum amount you want to spend, you will own it at the lesser price. For phone bids, our staff will contact you right before the auctioneer is about to sell the equipment you are interested in purchasing. You will be able to communicate with our staff, and have them bid on the equipment for you just as if you were at the auction. To pay for the items, we will set up a wire transfer from your bank, or record a credit card number.