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.
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.