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AUCTION RESOURCE GUIDE                                      AUCTION RESOURCE GUIDE


    5. Removing Items After An Interview               11. Ask The Same Questions of each potential
    Realize that most companies work on a percentage so   company
    the more they make for you the more they make.     Make a list of questions to ask each company.
    Also, realize they may make a bid to you based     That way you are comparing apples to apples.
    on what you represent will be for sale. Many will   They may have a brochure or website with general
    charge a commission once they have started         information Here are some questions you may
    working on the sale and something is removed. If   want to consider asking:
    you intend to take items let the companies know    •  How many days do you think it will take to set
    on the front end and have it in the contract.         up?
    6. Taxes                                           •  What is your commission?
    Everybody loves to hate them. Different states/    •  Are you licensed?
    counties have different requirements for estate    •  Are you a member of the Texas Auctioneer
    sales. Find out whether sales tax is supposed to      Association?
    be charged or not and then ask each company        •  Are there fees besides your commission?
    whether they do.                                   •  Do you have insurance? What types?
    7. Research, Research, Research                    •  How long after the auction will I be paid?
    Make sure you feel comfortable with the company    •  Do you have an appraiser on staff or access to
    before signing a contract. Check with your local      one?
    better business bureau to be sure there aren’t     •  What is your field of expertise? Antiques, Art,
    outstanding issues with the company you have          Furniture, etc?
    chosen. If there are, ask the company about it. Are   •  How many people do you generally have staff
    they licensed in Texas?  Visit www.TDLR.texas.gov     a sale like mine?
    to verify.                                         •  How will my home be left? Broom Clean,
    8. Visit an Auction                                   Empty, etc?
    The best way to get a feel for a company is to     •  Do you or your employees buy items?
    watch them in action. Go to an auction and don’t   •  Do you have a store or warehouse?
    let them know who you are. Look and see how it is   •  Do you have a contract? Can I take a copy
    set up. Interact with their staff at the checkout. Do   home with me to look over?
    they treat people with respect? Are they efficient?   •  Do you pre-sell or allow people early entry?
    Look for what is important to you.                 •  Do you charge sales tax?
    9. Ask for References                              •  Do you have any auctions coming up that I
    Ask the company for letters of reference and          could visit to see how your sales are
    contact information for recent clients. Contact            conducted?
    those clients and find out what they liked and what   •  When would you be able to do the auction
    they didn’t like. Ask them specifically “What do you   (dates and times)?
    wish would have been done better?”
    10. Get a Contract                                               Reprinted in part from estatesales.net.
    A contract is extremely important. It should detail
    out when the event will be held, how much the
    company is charging, when you will get paid, etc.
    Do not hire a company without a contract. You
    should both have a copy of the contract after
    signing it. A good contract details out what is
    expected of each party. BE SURE you address what
    happens to items that DO NOT SELL and how to
    handle any dispute and in what county.




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