Whether you're new to auctions or an experienced bidder, a few things are helpful to understand before placing a bid, including pre-sale estimates, property condition and the buyer's premium.
Pre-Sale Estimates
Each auction lot includes a pre-sale estimate representing the range in which we believe the property may sell based on our research and current market information.
Estimates are a guide, not a prediction. A lot may sell above or below the estimate depending on bidder interest and competition. Estimates do not include the buyer's premium or other applicable charges.
Condition of Items
Most property offered at auction has had a life before it reaches us. Age, wear, restoration and other condition issues can affect both value and desirability.
We encourage prospective buyers to examine property during the auction preview whenever possible. We may also provide condition reports and additional photographs upon request.
Condition reports are provided as a convenience and are not a substitute for examining the property. The absence of a reference to a particular condition issue does not mean that the property is free from wear, restoration, repair or other imperfections.
Buyer's Premium
A buyer's premium is added to the hammer price of a successful bid and becomes part of the total purchase price. Additional charges, including applicable sales tax or online bidding fees, may also apply.
The applicable buyer's premium and other charges are provided in the Terms & Conditions for each auction.
Before You Bid
We encourage all bidders to review the complete Terms & Conditions for the auction before bidding. These include information about bidding, payment, buyer's premium, property condition, pickup and other terms of sale.
Questions about a lot before you bid? Call 314-778-9000 or email info@woodardlipe.com.
