Participating in Auctions

What do I need to participate in an auction?

All you have to do is confirm your email address and register a credit card (with no fee applied) here or in the top right corner of the Auction Solutions Inc. site. Then, you’re all set to start bidding on whatever your heart desires.

Auction Terms & Definitions

We’ve put together a couple of essential terms so you can focus on placing the highest bid. 

  • Buyer’s Premium: It’s the amount percentage added to your winning bid so auction companies like us can pay the bills. At Auction Solutions, the buyer’s premium is 10%. This also covers any possible credit card charges. However, if your card is declined, you could be subject to a $35 charge. 

  • Times the Money: This is applied when more than one item is in the quantity of a specific lot. It automatically multiplies your bid by the quantity listed. For example, if there are eight chairs in a single lot and you bid $5, your bid will automatically be $40 since you’re paying $5 per chair.  

  • Simulcast: When an auction is run simultaneously in-person and online — the best of both worlds.  

  • “As Is, Where Is”: Items are being sold in their current condition meaning no inspection or other contingencies apply to the sale. Buyers are solely responsible for examining a property and deciding as to its suitability for their intended purpose before bidding. 
  • Proxy Bid: This occurs when bidders have the option to set the maximum price they're willing to pay for an item and then allow the computer system to bid on their behalf. For example, one could set their maximum at $100, and the system will auto-bid for them until someone outbids their $100. 
  • Pre-Authorization: A temporary lock on a certain dollar amount of credit on your card. It’s not charged but keeps the funds available for the authorizing merchant. Within the authorization period, the merchant may capture the authorization (charge the card up to the authorization amount) or release the authorization (return the amount to the card's available credit). Depending on the credit card's issuing bank, an authorization will be automatically released after 1-8 business days. An authorization might show on the customer's credit card statement or mobile app as a pending charge, or it might not show at all.  

I won. What now?

Your registered card will be charged within 24 hours of the auction closing date. After that, you can expect a message from Shipping Saint, our software designed to deliver your winnings or set you up for pick-up. Additional instructions are provided at that time. 

Access more details and terms and conditions for each auction by clicking the “Terms” button within each listing.