Definition and process
Definition
An auction is a form of public sale consisting of selling to the highest bidder. Thetraditional auction is usually done in a room, or even outside. An auctioneer (auctioneer) makes the batch sale by taking the increasingly high offers (bets) of the buyers who are physically present.
A bid is when a buyer makes a higher bet than the previous bidder and then becomes the bet to beat. If no one outbids the latter again, he wins the lot.
Note that an auction fee of 15% and taxes of about 15% are almost always applicable, unless otherwise stated (a bet of $100 corresponds to a final invoice of about $130).
Process
Step #1: Registration
Bidders must first register to obtain their bidder number. It is with this number that they will be able to bet on the lots on sale. Usually, the name and surname, address and telephone number and an identity document are sufficient.
This information is not communicated to anyone without your prior consent, it only serves to ensure that they are serious customers who are responsible and respectful of the terms and conditions of the sale and to contact you if necessary. A deposit may be required for certain specific auctions.
Step #2: Inspection
A set amount of time is allotted to allow all bidders to see the items for sale. Often, this exposure time is an hour or two before the start of the sale.
Step #3: Auction
It’s time to bet!
Our formula is as follows: we proceed in the order of the batches (from the lot #1 to the last one). A screen shows a photograph of the item for sale.
When the prize is won, the auctioneer declares it sold and moves on to the next prize. The data is recorded and compiled. This way of doing things allows a better comfort for our buyers, but we can also adapt to various situations.
Step #4: Payment and acquisition
When a bidder wins prizes, he is responsible for his bets (if he wins a prize, he must buy it and take possession of it). When he has finished betting for the auction that takes place, he can go to the payments counter.
The types of payments accepted (unless otherwise stated) are cash, debit and credit (Visa and MasterCard).
After payment, the buyer can then acquire his winning lots with his paid invoice in hand. The prizes won will be entered in order to avoid any confusion. A defined time is allocated to take possession of the lots.
With the exception of the time immediately following the auction, another day for taking possession of the winning lots is often scheduled in order to allow buyers to plan their transportation, labor or other arrangements.