If I scratch my nose or wave at a friend, will the auctioneer think I’m bidding?
What are the differences between a “with reserve” and a “without reserve” auction?
Can I inspect the property I am interested in bidding on before the auction?
I am a reseller (gallery, broker, dealer). How can I be exempt from Maine state sales tax?
I want to go to an auction, what should I know?
Understand the type of auction you are participating in (with reserve, without reserve, etc.) and make sure to review the complete terms and conditions of the sale. It is preferable if you register for the auction prior to auction day, although we will be able to register you on that day if needed (please see registering as a bidder, answered below). You should be aware of the items you wish to buy, inspect them in person if possible, and set your bidding strategy (how far you’re willing to go, etc) before the auction starts.
You will be bidding against others and this is a business transaction, so the expectation is that you have the financial capacity to purchase any lots you are bidding on. A contract is formed upon the fall of the hammer and you should be prepared to pay for any lots you have won at that time as payment by the end of the next business day after the conclusion of the auction. You are expected to take or arrange shipping for any items you may purchase.
If you are attending an auction with a live element, you will want to bid in sync with the chant. You should be listening closely and following the increasing bids. The number the auctioneer is repeating is where the bid is and what the auctioneer is now accepting. Remember, under Maine law, if you are the high bidder when the hammer falls, you become the owner of the item and the sale cannot be undone.
Can I attend an auction as a spectator without bidding?
Our auctions are open to the public free of charge. We encourage people to explore our auctions by attending one as a spectator. There is no better way to learn about auctions than to watch one firsthand.
What is the auctioneer saying?
The art of perfecting the auctioneer’s cry take years of practice, but understanding what auctioneer is saying is simple. The auctioneer’s bid call can be broken into two parts:
- Statement (The Current Bid) – I have five dollars.
- Question (The Next Bid) – Would you bid 10?
Example: I have 5 dollars, would you bid 10, would you bid 10? Now 10, I have 10 dollars, would you bid 15...
The cadence and repetition of words and use of “filler words” vary from one auctioneer to another, but the format is usually the same. Always remember that the number the auctioneer keeps repeating is the dollar amount they are wanting.
If I scratch my nose or wave at a friend, will the auctioneer think I’m bidding?
We hear this misconception a lot! In fact, to bid at an auction or for your bid to be received by the auctioneer, you will need to be registered and have a bid card. You will receive this bid card at registration and it will have a number on it. This number allows us to know who is bidding from the list of registered bidders.
If you mistakenly bid or the auctioneer misinterprets your movement as a bid, immediately notify either the auctioneer or auction staff.
Am I required to have cash on hand at the auction?
Cash payment is not required as we accept multiple forms of payment: cash, check or credit card. Whatever method you choose, you are expected to have the means to pay for your winning lots at auction time, which is due by the end of the next business day following the conclusion of the auction. We do give a credit of 2% of the purchase price for lots that are purchased and removed from the gallery by the end of auction day. (This 2% discount does not apply to our Discovery Sale.)
What are the differences between a “with reserve” and a “without reserve” auction?
A “with reserve” or “reserve” auction is an auction in which a minimum price has been preset by the seller that must be met to complete the sale of an item. Reserves are often used to provide the seller with security that they receive a certain amount of money to meet their sale goal. If the reserve is not met, even if there are lower bids, the item does not sell. A "without reserve” auction, or “absolute” auction, is an auction in which there is no minimum price and the item goes to the highest bidder regardless of price. If there is only one bidder and they bid one dollar, regardless of what is being auctioned, the piece sells for one dollar.
What is a buyer’s premium?
A buyer’s premium is an amount over the hammer price that the buyer pays as payment to the auction house for participation in the auction. This is partly how the auction house is compensated for holding the auction. The premium is based upon a percentage of the hammer price of the item, and added to the hammer price to make the purchase price. Please see terms and conditions to learn more about buyer’s premiums.
What does “as is, where is” mean?
One of the most common statements made at auction, “as is, where is,” simply means the property is being sold without warranty and that there are no contingencies based on the status of the property being sold. It is important that you inspect the property you are interested in before you bid.
Photos may not show all the details or potential faults with the property and it is your job as a well-informed bidder to thoroughly inspect and know what you are bidding on BEFORE the start of the auction. Once you bid and the hammer falls at auction, under state law you are the new owner.
Can I inspect the property I am interested in bidding on before the auction?
It is the buyer’s responsibility to conduct due diligence prior to bidding, so there is ample opportunity to view and inspect the item before the auction. We encourage you to contact us and inquire about any questions you may have on a property and on our business hours or preview times when you can come in to inspect the property, as well as any paperwork available on the property. We want you to feel comfortable on auction day. Always feel free to call and ask questions.
What are the low and high estimates?
The high and low estimate given for an item are solely a guideline as to the item’s apparent market value, based upon our approximation as to the range within which the property may be sold for at auction. An estimate is not a statement of value or selling price of an item and the auction house makes no guarantee, representation, or agreement as to the value or selling price of an item more than our opinion of the item’s possible auction price on the open market.
I am a reseller (gallery, broker, dealer) or live out-of-state. How can I be exempt from Maine state sales tax?
For questions about reseller status, please visit our Sales Tax Information page.
What is a condition report?
A condition report is a statement by us as to the physical condition of an item and any other issues that may be present. While we take every measure to be as accurate as possible, a condition report is no substitute to a physical inspection of the item by the buyer prior to the auction. It is the buyer’s responsibility to perform due diligence and inspect the item prior to sale, and the condition report does not substitute for that. Please see our terms and conditions for more information on condition reports.
Does Barridoff Auctions perform appraisals?
We provide free of charge auction estimates, which are informal oral appraisals, whether or not we accept a piece for our auction. We also provide, for a fee, formal written appraisals for tax, insurance or estate distribution purposes. For information about appraisals, please visit our Estimates and Appraisals page.
I am interested in bidding in your auction. What do I do?
For more information about bidding or if you would like to register to bid, please visit our Register to Bid page.
What is an absentee or phone bidder?
For more information about bidding and for a description of each type of bid, please visit our Register to Bid page.
If I buy an item at the auction, how do I get it?
For more information for buyer’s after the auction has ended, please visit our Buyer’s Information page.
