TERMS USED
AUCTIONEER:
Person who invites the bidding at certain increments, keeps you informed as to what amount the bid is at, and has the final word on when an item is "sold".
RING MAN / FLOOR STAFF
Person who stands in front and helps the auctioneer take bids, deliver items to the winning bidder, and brings more items to the auction block. The Auction Floor Manager keeps the fast paced flow of items coming in the right order.
TICKET CLERK
Person who records all auctioned items sold or passed, the final bidders' number and the high bid, so the auctioneer will have a record and you'll have a receipt. Many Auctioneers audio / video tape their auctions so if there is any problem they can run back the tape and find the discrepancy.
REGISTRATION/CASHIER CLERK
Person who registers your name and gives you a bidder number, adds up your bill, and gives you a receipt after you pay.
CHOICE IN LOT OR TIMES THE DOLLAR AMOUNT FOR MORE THAN ONE ITEM IN A LOT
Choice - You can Bid on one choice item in a group of items, the high bidder can take any item or items, each at the high bid price.
eg. - 5 pieces of jewelry - highest bidder may select one or as many as they wish for that price each.
2X$ - 2 wingback chairs - these will be sold together, but priced at 2 times the high bid.
ABSENTEE BID
Bid in writing or email executed by auction personnel, from an absentee bidder. Registration for the auction and purchase guarantee (credit card) will be accomplished before the auction.
RESERVE
the "Minimum Price" wanted at auction by the owner. Most of our auction items sell "Absolute" to the highest Bidder, thought the Seller is able to set a "bottom dollar" on what they will take for a particular item. If the item does not meet the "Reserve", it will be passed.
CONSIGNMENT
An agreement between a Seller and the Auction company to offer the Seller's items to the Public in an auction setting. We accept quality consignments as few as 1 item to the whole house full, including vehicles, and more!
