Bidders register with the cashier upon entering the auction. Each bidder receives a Bidder Card to be used to make bids. A current picture ID is required to receive a card.
You can check the terms of any auction by going to the auction page’s Documents tab. Here is a sample Auction Terms document. You will be given a set of printed terms when you register at the auction, and the auctioneer will also announce the terms of the sale at the beginning of the auction. If you have any questions, call us at 855-353-1100 or talk to any Key personnel at the auction.
To make a bid, the bidder simply raises his or her hand or bidder card and the auctioneer or ringman will acknowledge the bid. The ringman’s job is to assist the auctioneer in spotting bids, holding up merchandise so the bidders can see the item for bid and marking the item with the bidder’s number once it has been sold.
Phone and Internet Bids
Phone and internet bids may also be recognized by the phone person. They are deemed to be valid as if the bidder were present.
Upon successful winning of the bid, the auctioneer tells the clerk what the bidder paid for the item and the bidder’s number. That information is sent electronically to the cashier.
As soon as the auctioneer announces “Sold!” the bid information is sent wirelessly to the cashier. Bidders can pay the cashier any time during the course of the day, as often as they like. The cashier will provide a detailed invoice describing each item purchased and the winning bid amount. The bidder may pay by cash, MasterCard, Visa, American Express, Discover, or check with Bank Letter of Guarantee. No other forms of payment can be accepted. The bidder must present a paid invoice to security personnel at the door in order to take an item from the building.
In most cases, bidders will want to remove their property from the auction the day of sale. If the bidder is unable to take the purchased goods the day of sale, he or she must make arrangements with auction personnel before leaving the building regarding removal.