Buyer Frequently Asked Questions

Do you have an inspection period before the auction?

Yes, however, the length and timing depend on the type of sale. Smaller sales, including most estate sales, the inspection period normally will be the same day, but limited to a few hours before the auction begins. On larger sales, including online sales of equipment and real estate, there will normally be a time and day for inspections prior to the sale date. Sometimes, inspection opportunities will vary, and it is strongly recommended to check the website for details. If you need additional help, contact us before the sale.

When should I arrive at the auction, and is it necessary to bring anything?

It is recommended that you show up to the auction 30 minutes before the sale starts, if not earlier. To avoid any lines in the registration process and to continue your inspection of those items you’re interested in, get there with time to spare. Be sure to bring your valid state-issued ID, as it will be required to obtain a bidder number. Make sure to bring one of the approved payment methods: cash, check, or another approved method. Bring a copy of your valid resale certificate if you have one. Should you intend to remove anything that requires powered equipment or that the process of removing your item has the potential to damage the facility, be sure to provide us with a copy of your business liability insurance in the minimum amount of $1,000,000. In some cases, we may require your provider to acknowledge that you are indeed insured for this specific event and location.

Can I Bid Online?

Auctions ASAP allows online bidding, and it’s fairly easy to do. Go to our current auctions, and it will take you to the bidding platform. Once there, you will need to register by filling out all the information, including your credit card information. Once verified and approved, you can start bidding on those items you’re interested in. The process is self-explanatory and very easy to do. If you don’t have time to follow the auction as it closes, you can leave a maximum bid, and the software is designed to place bids in increments as needed to keep you in the winning position up to your maximum bid. Once the auction is over, we will normally charge your credit card for those items you’ve won, so make sure your limit is enough.

Can I Place An Absentee Bid?

We normally allow absentee bids on items of higher value, so yes, it is allowed. You must register and place the absentee bid for the auction a minimum of 24 hours before its start. In some cases, a deposit may be required, so be prepared to write a check or make a wire transfer for 25% of your bid. When we place your bid, it will be at the auctioneer’s discretion and will be placed competitively. Please keep in mind that, depending on the bid increment, it is possible that your bid may not be the winning bid even if the item sells for the same amount. Example – If you leave an absentee bid for $1000, and because of the bidding we have you in at $900, and the next competitive bid is for $1000 from another buyer, you will not be the winner.

What is A Buyer's Premium?

A buyer’s premium is an additional fee, normally a percentage, that is added to the winning bid. Auctions ASAP uses a buyer’s premium between 5% to 18% (normally 10%), depending on the sale and whether or not it’s conducted online. The buyer’s premium goes to the auction house and is used to cover costs like running the auction, marketing, salaries, etc. For more details, please check the auction event information posted on the website or the advertising.

What item will the auctioneer start selling first and when will he sell the items I’m interested in?

In cataloged sales, we will normally start with the first lot and work through the catalog in order. In non-cataloged sales, we will make announcements trying to convey to the buyer how we will proceed. In a non-cataloged sale, be sure to follow along with the auctioneer so that you don’t miss anything.

What are the payment terms and types of payment?

All purchases must be paid in full immediately following the sale. No items can be removed from the auction until payment has been made in full. Please check the terms and conditions, as the following payment forms may vary from sale to sale. We normally accept payments in the form of:

Cash (preferred in most cases)
Business or Personal Check with Bank Letter of Guarantee
Bank-to-Bank Wire transfer if a prior deposit has been made (consult Terms & Conditions)
Credit Cards are sometimes accepted if the seller has approved (consult Terms & Conditions)

When and how can I remove my purchased items?

Normally, the removal period is stated in the terms and conditions, as it varies from sale to sale. We will allow for removal when you have paid in full and the auction has concluded. For most smaller sales, we require that you remove everything possible that day. It is highly recommended that all smalls be removed immediately after the auction has concluded. Larger items, including equipment, are normally scheduled the day after or during the following week or two. If the items require rigging, we will be glad to provide a list of approved riggers. If you use a rigger not on our list, as long as they can provide the insurance, equipment, and expertise, that’s fine. Our staff will not provide any packing, loading, rigging, or shipping services.

Do you provide security for my purchases?

For most sales, it is very challenging to provide security on every item that is sold, if not nearly impossible. It is the buyer’s responsibility to look after those items you bid on immediately after your bid is recognized as the winning bid. It’s best to bring a friend if possible, to help keep track of your item.

Is there sales tax on my items and am I responsible for it?

In most sales we conduct, the state or local municipality will require us to collect sales tax from the buyer. Unfortunately, we cannot waive this unless you have a valid resale certificate and are willing to complete and sign the necessary forms. For more information, Contact Us before the sale.