What Types Of Items Are Sold At Auction?
• This list is virtually endless and includes but is not limited to the following items: automobiles, fine art & and antiques, residential, commercial, and industrial real estate, livestock, stocks, bonds, and other financial instruments, mineral and drilling rights, FCC broadcast rights, song royalties, trademarks, and copyrights, and much more. In short, anything that is legal, whether tangible or intangible, can be successfully sold at auction.
When should I call an auctioneer, if I am thinking about having an auction?
• BEFORE you throw anything away. So many times, we have gone in after the family has removed the “trash or junk”. Unfortunately, many sellable collectibles have been sent to the landfill. The old quote of “one person’s trash is another’s treasure” does hold true. Call the auctioneer first! We are the experts on what will and will not sell at auction.
Why Would I Want To Have An Auction?
• The reasons why someone would want to sell items at auction are as numerous and as varied as the circumstances why people want to buy at auction. Some may wish to employ the services of a professional auctioneer, if there has been a loss of loved one and an estate to settle. Many others may do so because they desire to close their businesses and liquidate their holdings. While others call when they wish to reduce their inventories of items and create more space for other items. However, in every case of an item sold at auction, true market value will be obtained, the item is guaranteed of being sold, and you know exactly when it will be sold. So before, you have a going-out-of-business sale or a garage/estate tag sale, call a qualified auctioneer ASAP!
How Long Will It Take To Schedule An Auction?
• The amount of time necessary to adequately prepare for a professional auction is different for each auction. Onsite auctions for example, such as a business liquidation auction will require a statewide county-by-county Uniform Commercial Code search. Likewise, an auction of real property (real estate) will require a title search, a Seller’s Disclosure Statement, and most likely, an open house before the auction is conducted. Other variables that may influence the time needed to prepare for an auction include the location, quantity of items being sold, time needed to comply with local laws and ordinances, time needed to document, itemize, clean, transport, and organize items, and our auction schedule availability. With all that being said, an auction of respectable size can usually be conducted within a 30-day period or less. Items sold in our building will have a quick turn-a-round time, generally within a week or two.
How Much Does It Cost To Sell Items At Auction?
• There is no quick and easy answer to this question. Auctioneers are sales and marketing professionals that are paid a specified commission of the sale’s gross proceeds. In most cases, the cost to the seller depends on a variety of factors that are unique to every individual’s circumstances. The most pertinent issue that should be considered is the quantity and expected sales price of items that are being consigned for an auction. All things being equal, the sellers should expect to pay higher commission rates for small quantities of items that bring relatively low sales prices.
Other factors that can affect and influence the selling commission rate include whether the auction is on-site or off-site, the amount of advertising needed to locate any needed specialized buyers, the number of personnel necessary to conduct a professional auction event, and the amount of research necessary to maximize optimum prices.
One thing to keep in mind when trying to determine the best method for disposing of and liquidating your property is that auctions in the end are cheaper. This is due to the fact that if you conduct a sale yourself or hire a tag sale company, you will not receive the best prices your items are capable of bringing, you will have left over items that must be dealt with, and your personal time investment and amount of time the premises will be tied up will be increased anywhere from 200% – 600%.
How Long Will It Take To Receive The Proceeds From My Sale?
• After your items have been successfully sold at auction, at our Auction Center, you should allow 10 business days to receive payment. In most cases, your proceeds will be processed and paid earlier. On-Site Auctions are settled sooner.
Can you conduct auctions at my location or do I have to bring the items to the auction facility?
That is determined by what you have for auction. We conduct many business liquidations and estate sales on location. To conduct an on-location auction, we generally need to inspect the auction items to determine if there is enough to warrant an on-location auction. We also need to check to see if the site is feasible for an auction in terms of parking availability, room for display of items, compliance with city ordinances, and if there is room to handle the amount of people we expect to attend. If any of these factors are a problem, the items can be brought to our auction facility.
When can I bring my auction items and when will they sell?
Please call 540-955-0277 if you have questions.
Your items will be placed on the next available auction (not necessarily the next auction, if that auction is already filled.) If you have a specialty item, such as an antique piece, coins, firearms, etc., we might suggest to you that you place them on one of our special auctions. Entire Estates can be sold at once for Estate Settlement purposes.
Who sets the prices at the auction?
• The Bidders Do! The auctioneer may start with an asking price, but ultimately it is the bidders that determine the price.
Are there items you will not accept for auction?
- Any soiled or damaged furniture, includes items covered in pet hair, well used worn out or dirty
- Distressed furniture/appliances/household items
- Garage sale- estate sale-tag sale etc, left over’s ( If you cant sell it, we can’t either)
- Low end, dollar store, nickel and dime, odd and end “stuff” that’s going to be grouped together in box lots.
- TV’S (Unless they are flat screens)
- Older or stained beds/mattresses/box springs
- Organs and Pianos ( They are hard to sell even if in good shape)
- Nonworking appliances/electronics
- Presswood, laminated wood, and particle board furniture
- Certain office equipment IE: ( office cubicles, certain desks etc)
- Older outdated exercise equipment (Modern equipment is acceptable, but please note items such as exercise videos, fitness balls, etc retail high and sell low)
- Other items deemed unsellable by Hash Auctions
**Disclaimer** If an item that is in nonworking condition or has defects and is not disclosed to the auction staff by the seller, but is sold in good condition unknown by the auction company, Hash Auction has the right to refund the buyer and dispose or return the item to the seller. Please work with us and we will work for you.
Of course, these are not all of the Q&As. If you have a specific question that needs an answer that we have not given here, please feel free to e-mail us with your question.
We love to hear from our customers. Remember Mondays are auction day and our staff may not be able to accommodate your questions during an auction. So, give us a call during the week!