How to Sell with Auction Solutions

It's our goal to make every auction as stress-free and low touch for our customers as possible. Consigning and listing items with Auction Solutions couldn't be easier. Below we'll walk through the process.

  1. INITIAL CALL: Give us a call or send us a message and let us know what you would like to sell. One of our auctioneers will set up a time to preview the items either in person or via Zoom and get the process started. You can generally expect to talk about the auction process, terms, commission, sale type (live, online, simulcast, etc.), advertising and all the other important questions during this visit or call. There's some decisions that you'll want to make during this portion of your auction planning. Don't worry, we're here to guide you through it all.

  2. AUCTION PREP: From here, you're assigned an Auction Coordinator who is your go-to for scheduling cataloging appointments, questions prior to the sale date, and keeping you informed of any important updates. They will reach out within a day or two of you signing on with us to discuss next steps in detail.

    1. Once your Auction Coordinator has set up some important dates with you, they will begin coming to the site to sort, organize, catalog and photograph your items. If you're dropping them off at our facility, this is even easier.
  3. AUCTION FINALIZATION: Once the items are cataloged and photographed, our team will perform photo editing and build the online catalog. The catalog is then sent to you for review before posting.

  4. SALE: If your auction is online, we will generally post it once approved and begin to accept pre-bids for at least 5 business days. Generally our auctions end on Fridays. On the final day of the auction, lots will begin closing. It takes several hours to close all the lots on your auction and this process usually goes on into the evening.

    1. If the auction is live on site, it's a bit different. The day of the auction starts early, with staff coming to the site to set up cashier trailers, sound systems, and any other equipment needed for a successful sale. Lots sell live, simulcast online to a national audience and the bidding happens very quickly.
  5. CLOSING: Once the sale is concluded, we'll spend some time doing any post-sale tasks like final accounting, shipping, and coordinating pickup. That's right, we handle all the item pickups, shipping, legal transfers such as FFL or vehicle title requirements and handling of any customer issues that may arise. You can sit back and rest assured that we are handling everything. Within 30 days, you'll have a check ready with your auction proceeds!
There's not much more to the auction process than that. For more than 25 years, we've conducted thousands of auctions and designed the process to be as easy as possible for you, our customer. If you have any questions along the way, or need any additional assistance, we'll be there to help.

Some things to know:

Auction Terms

COMMISSION: This is the portion of the sale proceeds that are deducted from your auction's Gross Sale Total. This is retained by the auction company.

BUYER'S PREMIUM: This is a percentage of your winning bid that is charged to the buyer. This is retained by the auction company. Buyer's Premium is part of the Total Purchase Price of your items and tax is applied.

SIMULCAST: A simulcast auction is a live auction that is conducted in person, but also allows bidders to participate remotely. Simulcast auctions use video and audio streaming technology to allow bidders to see and hear the live auction from anywhere.

LOT: An item or group of items offered for sale.

AS-IS. WHERE-IS: In an auction, the auctioneer makes no representations about the property's condition or suitability for the item's intended use by buyer, and the property is sold in whatever condition it's in on the day of the auction. Buyers should inspect the property before bidding.

Types of Auctions

  1. Live Onsite Auction - This type of auction is hosted on location at a home, business, or event center. This type of auction invites buyers to bid against others in a crowd. It affords buyers the opportunity to view items for sale in person and inspect them first-hand. This auction is typically simulcast online.
  2. Online Auction - This type of auction offers items for sale via an online catalog that allows users to bid from anywhere in the world. These auctions have a set date and time to begin closing. When closing begins, 2-3 lots will begin a countdown. Once the timer expires, the high bidder wins the lot! Then the next lots in the catalog begin their countdown. This goes on for a few hour to offer all bidders the chance to bid on all items offered. We utilize "soft closing" that extends the timer for any item with bids in the last 1-2 minutes to allow buyers competing for an item more time to get final bids in.
  3. Live Online Auction - This auction type is mostly the same as an online auction, except there are no timers. Instead, a live auctioneer calls bids for each lot in the catalog via an audio/video stream to a group of online bidders.

Seller FAQ

What is consignment? 

Consignment auctions have items from many different sellers, unlike your traditional liquidation auction which contains personal possessions from only one business or estate. If you don't have quite enough for a full auction, you can consign to one of our many other auctions!

Why would an auction work for me?

Whether you’re navigating a relative’s estate, downsizing a business or liquidating a lifetime of collectibles, an auction is the right solution to turn your assets into a profit. In the rapidly expanding market, virtually any real estate and personal property can be sold at auction. But that’s not all, intellectual property and mineral rights are some other examples that can go to the highest bidder. 

What’s the difference between a starting and reserve bid?

A starting bid is the minimum bid you’d like guests to begin at. We mainly reserve this for the most expensive and exceptional pieces to ensure you get the best price. 

A reserve bid is the lowest bid you’ll accept from a buyer. It’s a price only known by you, the consigner, and your trusted team at Auction Solutions Inc.

How will I know what items are sold and what people pay for them?

Auction Solutions Inc. captures your sales in real-time and a comprehensive accounting report will be generated for you after the sale. We can pre-catalog your sale or enter each item as we go. Either way, you’ll receive a detailed, line-by-line report of your total sales dollars. 

What happens to things that don't sell?

Things offered for auction that don't receive bids are handled on a few different ways:
  1. They can be donated to a charity or non-profit of your choice.
  2. We often receive cash offers from buyers during pickup time for unsold merchandise. Minimum bid policies apply here and staff makes every effort to maximize the profit on every item sold, even after the auction.
  3. They can be returned to you.