What is an Auction?
We hope that these answers to some frequently asked questions help you feel comfortable and confident about auctions.

Have a question about Real Estate Auctions? Find answers here.

About Auctions
Before an Auction
During an Auction
After an Auction

About Auctions

Q: Can anyone go to an auction?
A: Most auctions are public events and everyone is welcome. Exceptions would be some auto auctions, which allow dealers only.

Q: Why does an auction go so fast?
A: At a personal property auction there are usually many transactions per hour, which means the pace of the auction is fairly quick.

Q: Why are auctions so popular?
A: The excitement of bidding, the thrill of the hunt, the rhythmic chant of the auctioneers – all these elements generate a level of enthusiasm that only the auction method can generate. The auction is unlike any other buying or selling environment.

Q: What advice would you give to a first-time auction attendee?
A: Don’t be intimidated; you don’t need to be experienced to enjoy an auction. Relax, have fun, observe, and ask questions. We are ready to welcome and help you.

Q: What kinds of items are sold at auction?
A: Quite simply, if something can be sold, it has probably been sold at auction. Alderfer Auction & Appraisal sells a wide variety of personal property including fine art, decorative accessories, glass, china, jewelry, coins, stamps, firearms and edged weapons, ephemera, furnishings, tools, cars, recreational vehicles, and much more.

Q: Are auctioneers licensed and bonded?
A: In Pennsylvania all auctioneers are required to be licensed and bonded by the state. In addition, Alderfer auctioneers are involved in continuing education classes and have been awarded several certifications. Our auctioneers are also members of the National Auctioneers Association, Pennsylvania Auctioneers Association, and the Lehigh Valley Society of Auctioneers.

Q: What is a Buyer’s Premium?
A: A Buyer’s Premium is a percentage of the high bid that’s added to the high bid to establish the final sale price.

Q: What is the difference between an “absolute” and a “reserve” auction?
A: An absolute auction means the property is sold to the highest bidder, regardless of price. A reserve auction (sometimes referred to as an auction "subject to confirmation") means the seller reserves the right to accept or reject the highest bid.

Return to Top

Before an Auction

Q: What must I do to attend an auction?
A: When you arrive at the auction site, look for the registration area where you must provide adequate identification to receive a bidder’s number, terms and conditions, possibly a listing of the items, and a schedule. Your bidding number must be shown to the auctioneer each time you bid and when you are the winning bidder.

Q: How do I know how much to bid?
A: It is important to arrive at the auction early enough so you can inspect the items you are interested in. Since many auctions sell items “as is - where is,” it is critical that you examine items for condition, size, color, etc. Based on your examination, establish a value in your mind. Don’t hesitate to ask questions and remember at an auction you can buy an item at a cost of only one bid higher than someone else was willing to pay.

Q: Can I preview the items before the auction?
A: Yes. Generally you may preview the items the day before the auction. This information is available on the advertising literature.

Return to Top

During an Auction

Q: Do I need to be afraid of bidding on an item I don’t want?
A: You may have heard a story about a person who scratched his ear and bought an expensive piece of fine art. Don’t be frightened by such tales. Auctioneers are professionals and realize when you are bidding and when you aren’t.

Q: How do I bid?
A: In order to bid at an auction, you need to make the auctioneer aware of you. To do this, hold up your bidder card or raise your hand. If the auctioneer does not immediately see you, shout “Yes.” The auctioneer will then take your bid and turn to seek another bid. If another bid is received, the auctioneer will return to you to ask if you want to bid again. Simply continue to say “Yes” to stay in the bidding.

Q: How do I stop bidding?
A: To remove yourself from the bidding process simply shake your head “No” when the auctioneer makes eye contact with you.

Q: Will I be able to understand the auctioneer?
A: The “chant” of a good auctioneer is easily understood. The chant is merely a series of numbers connected by “filler” words to create a rhythm and make it pleasing to listen to. A basic chant tells the audience the current bid and the next bid being asked. For Example: “I'm bid 5 dollars, will you bid 10?”

Return to Top

After an Auction

Q: How and when do I pay for the items I purchased?
A: Auction Companies vary but at Alderfer Auction & Appraisal you pay for your items when you are ready to leave. Payment may be made in cash, credit card, debit card, and personal checks (with proper approval).

Q: What about removal of items from the auction?
A: When you buy an item at the auction you are responsible for it. It is important that you put the merchandise in a safe area. All items need to be removed the day of the auction. If you purchase large items and need assistance in moving, you may engage the services of Alderfer Moving & Storage located in our Auction Center. If you need assistance to load large items into your own vehicle, simply ask one of the Alderfer personnel.