Listening to Steve and the other auctioneers during a sale
What Steve and the guys say and how an onsite auction works!
A Starman Auction is a simple, enjoyable process with the opportunity to make some great buys and meet some new friends . If you are new to the onsite auction process, the following information will be of value:
When you arrive at the auction site you are welcome to browse. In fact, we encourage you to inspect all the parts and paperwork before bidding begins. Once you have completed your walk-through we ask that you visit the registration area and get yourself a bid number. The clerks will ask for all information necessary to add you to the bid process. This will include your name, company name, address, phone, email, a drivers license, banking information, and a tax exempt certificate, if applicable. There may be additional information needed depending on the auction. Once the registration process is complete you will receive the auction catalog that lists all of the lots that are available for purchase and a bidder number on a card. This is your number, anything purchased under this number will belong to you. It is important to understand that everything you buy from a Starman Auction is AS-IS-WHERE-IS once the item is sold to you it is yours and you must pay for it and take it with you or have arraignments made for its removal. Starman is no longer responsible for your purchase once the auction chant for your item is complete. This means, that both the owner of the material, the seller, and Starman Auctions, the auctioneer, makes no representation or warranty on the merchandise. You are normally required to register and agree to the Terms and Conditions of the auction, prior to bidding. Make sure you read and understand the Terms and Conditions. If not, ask questions.
On the day of the auction Steve and the crew normally arrive one to two hours early with the auction start time clearly listed in the catalog and in all of the advertisements posted prior to the sale. Approximately 10 minutes before the sale Steve will call everyone over to clearly go over the terms and conditions. At this point the recording device is activated and the rest of the auction will be recorded. Once the auction begins the items sell and a clerk creates a record of each sale, the bidder, and the sale price each.
What’d He Say???
Do not be intimidated by the auction chant. It is simply two numbers, the current bid and the bid being asked for, with filler words to keep things going.
fowty-now-fowtyfibe-now-fibe-wiyagimme-fowtyfibe-now-fifty - the bid is 40 and the asking bid is 45, then 45 was bid and the asking bid is 50. You may notice that sometimes, only the last number is used. The asking bid is 45, but the auctioneer may drop the ‘forty’ & just say ‘five’ as shown in the example. It’s not hard to pick up after listening a little bit. Just listen for the numbers and remember the lower number is the current bid and the higher number is the asking bid. Starman auctioneers are not going to sell you something because you were scratching your cheek or stroking your chin. Unless you have given very specific instructions prior to the auction (which very few ever do), the auctioneer expects people to show their bid number, their hand, or make a sound to signal a bid. If you are mistaken as having placed a bid, stop the bidding and let Steve,Scott, or the auctioneer know. You may also retract a bid prior to the auctioneer saying ’sold’. When the auctioneer says ’Sold’, the merchandise becomes yours and you are required to pay for all merchandise before leaving the premises. Your purchases are your responsibility from the time the auctioneer says ‘sold’ and are your responsibility to move them. Please do not confuse the time to have your merchandise removed from the premises as the time you have to pay. This is not true. Any items you purchase must be paid for before leaving the premises for any reason.
A ’Buyer’s Premium’ may be added to the purchase, becoming part of the purchase price. Then, sales tax will be collected on this amount.
You bid $100 and there is a 5% buyer’s premium. Add $5 for the buyers premium and then the appropriate sales tax is collected on this amount ($105 + sales tax = amount you owe).
A couple of terms you need to be familiar with during a Starman Auction are
’Times the Money’, ’One Money’ or 'Take them all'.
Starman Auctions sells aviation material a piece at a time.Times the Money - The price you bid will be ‘times the number of items’ in the lot.
Example: Lot #72 has 10 fuel controls and the auctioneer says this lot is ‘times the money. If you bid $6.00, you are bidding $6 per fuel control. You would pay $6 X 10 = $60.00 (plus buyers premium and sales tax, as applicable).
One Money, or Take them all - If the auctioneer has said Lot #72 is going for ‘one money’ or 'take it all' and you bid $30, you would be purchasing the whole lot (all of the fuel controls) for only $30 (plus buyers premium and sales tax, as applicable). Listen to Steve or the current auctioneer carefully. If you do not understand, stop them and have any questions resolved then and there. Please, do not wait and bring your misunderstanding to the cashier. At this point, it is too late.
You will notice the bid assistants and packing and shipping boys on the floor assisting the auction. They are also here to help you. If you have any questions concerning the bidding process, please ask one of them. If you need help moving and item, getting packing material, or calling out a rigger or truck please talk to Scott Moore or one of his assistants, they will be glad to help. Please remember that they work hard for you and tipping for their services is greatly appreciated!
COME ENJOY AND HAVE FUN AT A STARMAN AUCTION TODAY