What types of auctions are held at Bentley & Associates, LLC?
Bentley & Associates, LLC conducts three types of auctions on a regular basis.
- Internet – Online Only – Timed Auctions: Where only registered online bidders are able to bid and compete against other registered bidders (these auctions are notated on the Auction Schedule with “Internet – Online Only – Timed Auction”.)
- Live Auctions: When only bidders who are physically present at an auction onsite are able to bid
- Simulcast – Live Internet Bidding Auctions: Where to live bidders who are physically present onsite at an auction compete against Internet bidders who have either placed proxy bids or are bidding live in real time – this is the most typical type of auction we conduct.
How are Bentley & Associates, LLC’ auctions different from eBay?
Bentley & Associates, LLC is different from eBay in several different ways.
How do I sell my items at auction?
There are several different types of auctions that we offer in order to properly sell your merchandise for the highest dollar. For more information on selling at auction, click here, call us at 800-841-4087 or contact us. We are ready to help you sell your merchandise today!
Where does the product you auction come from?
Bentley & Associates, LLC has many varied selling clients including police departments, state government agencies, federal agencies, corporations, bankruptcy trustees, lawyers, estate executors, and individuals. These groups give us excess or unneeded assets to dispose of at auction.
Is there any guarantee with the auction product?
No, there is no guarantee as all items are sold “as-is”, “where-is” and “what-is”. Items for auction are not tested, so this is a buyer beware situation. We do offer live previews where you can come in and inspect the product as well as test it yourself. In the event that a description of the product is incorrect, we will give you a refund of your purchase price.
If I buy a vehicle will there be a title with the vehicle?
Yes, unless the description says there is not a title with the vehicle. You will be given a title when you pick up the vehicle.
What does “Buyer’s Choice” mean?
In this method of auction, bidders compete for “the right to choose first” from a pool of similar properties. The high bidder may choose one, some, or all of the “like properties” offered. If the high bidder chooses multiple properties, then the high bid is multiplied by the number of properties the high bidder chose. If the high bidder takes less than all of the properties, then the bidding begins again and the subsequent high bidder now wins the right to choose first.
Is there a reserve price?
Assets auctioned “absolute” or “without reserve” have no reserve value and the assets will sell to the high bidder on auction day. Unless an item states “Minimum Bid” or “Reserve”, then the item is assumed to have no minimum or reserve bids.
Can anyone attend a Bentley & Associates, LLC auction?
Yes! All auctions are open to the public.
What do the terms “reserve” and “absolute” mean?
An auction where the property is being sold with a “reserve” means that the property is being sold subject to seller approval. The seller reserves the right to accept, reject, or counter the final bid. Properties identified as “absolute” are sold to the highest bidder regardless of price on auction day only.
What is the minimum bid?
The audience begins the bidding so there are no set minimum bids. Properties offered online prior to the auction do not impact the minimum starting bid.
Must I register to bid?
You MUST register on auction day and receive a Bidder Card in order to bid. At registration, you must present a current picture ID and complete and sign the Bidder’s Contract.
What is a Buyer’s Premium?
A Buyer’s Premium is a percentage amount paid by the buyer and added to the highest successful bid to determine the final contract price. For example, if the Buyer’s Premium is 10% and the Buyer bids $100, the Buyer will pay $100 for the item plus $10 Buyer’s Premium for a total of $110.
Can I write a check if it’s a business account?
Yes, but you must also bring with you to the auction a Bank Letter of Guarantee. This is a requirement for both business & personal checks. A blank Bank Letter of Guarantee can be found here.