How much does it cost to sell my stuff?
No matter what type of auction you have or who conducts your auction there are 3 expenses. These include Marketing/Advertising, Setup/Removal and Commission. All of these expenses are subjective and require knowledge of what is being sold, location, type of auction (live or online only) and value of assets to be sold. Typically, a site visit is necessary so our staff can provide you with an accurate assessment of costs and overall value you will achieve.
Do you have a facility where you conduct auctions of personal property and what happens on sale day?
Other than our Great Smoky Construction & Farm Equipment Auction in West Knoxville, most Furrow Auction Company events are held at the location of the property being sold, though some are held at another location, such as a hotel ballroom. Furrow Auction staff will begin registering bidders approximately one to two hours before the scheduled auction time. Typically there will an inspection the day prior on equipment auctions from 9am-4pm. Smaller auctions may have inspection the day of the auction only or by appointment.
What will I need to bring to the auction?
Furrow Auction Company Industrial Equipment and Personal Property Auctions require cash, Mastercard or Visa, personal check or company check accompanied by a Bank Letter of Guarantee.
What happens if I am the successful bidder?
You will need to pay for and make arrangements to remove your items during or immediately following the auction as specified in the sales catalog.
Is there a warranty with items purchased at the auction?
No “Buyer Beware” All items are sold “AS IS Where Is”
Will I be able to understand what’s going on during the auction?
Yes. If you have a question during the sale itself, just ask one of the bid assistants, who will be positioned around the bidding floor. They’ll be delighted to help.
What if I want to purchase equipment prior to the auction?
Typically we will not sell pieces of equipment from the auction but the seller makes this decision and we welcome your inquiries and offers prior to the auction. Our staff will communicate any legitimate offers to seller that they feel would be in excess of what might be realized on auction day.
What’s the difference between an absolute and a reserved auction?
In an absolute auction, the property sells to the highest bidder regardless of price. This type auction tends to get the best results, because it attracts the largest number of bidders. This type of auction is sometimes referred to as an “unreserved” auction. The reserve auction, differs in that the seller retains the right not to convey the property if the high bid is deemed unsatisfactory. The reserve is usually not communicated. (Note: This type of sale is sometimes referred to as “subject to seller confirmation.”)