Frequently Asked Questions
What is an auction?
A form of selling in which goods are sold to the highest bidder in a public setting.
What kind of merchandise will I find at the auction?
Real Estate Auction Solutions sells a variety of different pieces ranging from fine art, fine jewelry and gems, coins, fine prints, luxury cars and homes, antiques and reproductions, and much more.
Is the auction open to the public?
Yes, Real Estate Auction Solutions are free and open to the public, no invitation or reservations are necessary. Our friendly staff is happy to assist first-time buyers and they are encouraged to ask questions about how the auction works.
What time should I arrive at the auction?
Please arrive 60 minutes prior to the auction in order to fully register and to inspect all items you are interested in.
What does one need to know about attending an auction?
No experience is necessary to attend or bid at an auction. There is always a one hour viewing period before the auction begins during which customers are encouraged to inspect all lots and ask any questions they may have. Remember, there are no stupid questions; so please, do not hesitate to approach one of our friendly staff members for help. Just sit back, relax, and enjoy the show!
What information do I need to give to register?
When filling out a bid card, you will need to provide your name, address, telephone number, and proof of identity. Your passport, state-issued driver's license, or other government ID together with a credit card will suffice. After filling out the information, you will be handed your own bid card.
How do I bid?
Simply making contact with the auctioneer is enough to indicate to him/her that you would like to bid. You may hold up your bid card, verbally call out your bid, or arrange your own signals with the auctioneer prior to the start of the auction. You may even simply call out "Yes"! when you would like to place a bid. The auctioneer will make eye contact with you, and then seek another bid. If another bid is received, the auctioneer will return to you to see if you would like to bid again.
What if I want to stop bidding?
Simple. To remove yourself from the bidding process, shake your head "No" when the auctioneer makes eye contact with you, and/or discontinue holding up your bid card.
How do I follow the auctioneer's chant?
Any good auctioneer will be easily understood. The so-called "chant" is merely a series of numbers connected by "filler words" to create a rhythm that is pleasant to listen to. The chant will tell the audience what the current bid is and what is being asked for next. An example is, "I have $75, do I hear $100"? At Real Estate Auction Solutions, our auctioneers speak clearly at a steady pace so that all customers can understand and feel comfortable with the bidding process. Do not hesitate to interrupt the auctioneer with questions about the lot and/or questions about the current bid.
What is the IRS 8300 form?
This form must be completed for those who wish to pay more than $10,000 in cash. The form is mandatory by the Internal Revenue Service (IRS). The IRS requires that all cash transactions in excess of $10,000 be reported.
How does the IRS define cash?
Cash is all currency, cashier's check, money order, bank draft, or traveler's check having a face amount of $10,000 or less.
Can I pay for my items and leave before the auction is over?
Yes, you are free to pay for your items at any time. You may pay when you are ready to leave, or pay for your items at the end of the auction. Please see the Payment and Delivery tab for more detailed information.
How are shipping charges added?
As soon as you purchase an item at the auction you assume responsibility for it. All purchased merchandise must be removed from the auction site on the day of the auction. If, however, you need assistance moving your large items, you may need to book a moving service. In special circumstances, we will offer a delivery service for a fee; please see the Payment and Delivery tab for more information.
