Ross Auction, Colorado Springs

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Frequently Asked Questions - Ross Auction

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There is no charge to register to bid.

A buyer’s premium is commonly used in auctions today as a form of payment for the auction company conducting the auction. The buyer’s premium is a flat percentage of your bid added to the total bid amount.  This premium is paid for by the buyer.

We encourage people to explore the auction by attending one as a spectator. There is no better way to learn about auctions than to watch one live.

We encourage you to preview the property before auction. It is important for you as a buyer to inspect the merchandise before buying. We do Auction previews every Thursday Afternoon, Friday all Day and Saturday 9am-10am. We want you to feel comfortable on auction day. Always feel free to call and ask questions.

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One of the most common statements made at auction, “as is, where is,” simply means the property is being sold without warranty and that there are no contingencies based on the status of the asset being sold. It is important that you inspect all auction items before you bid. Photos and descriptions may not show or tell all the details of the item. It is the buyer’s responsibility to thoroughly inspect and know what you are bidding on BEFORE the start of the auction. Once you bid and buy an asset at auction, you are the new owner.

This is a major misconception about auctions. The fact is auctions are the primary sales method when selling valuable assets such as vintage vehicles, multi-million dollar homes and priceless pieces of art. The competitive bidding of an auction and the bidding of prospective bidders sets the price and market value of an asset. The item will not sell for more than the highest bid and will not sell for less than the high bid. You, the consumer, and other bidders determine the market value of an item when you buy at auction.

We hear this misconception a lot! In fact, to bid at an auction or for your bid to be recognized by the auctioneer, you typically need a bidder number. You will receive this bidder number at registration. This number allows the auction company to know who is bidding from the list of registered bidders. If you mistakenly bid or the auctioneer misinterprets your movement as a bid, immediately notify either the auctioneer or their staff.

The art of the auctioneer’s chant takes years of practice, but understanding what auctioneers are saying is simple. The auctioneer’s bid call can be broken into two parts:

  • Statement (The Current Bid) – I have five dollars.
  • Question (The Next Bid) – Would you bid 10?

Example: I have 5 dollars, would you bid 10, would you bid 10? Now 10, I have 10 dollars, would you bid 15…
The cadence and repetition of words and use of “filler words” vary from one auctioneer to another, but the format is usually the same. Always remember that the number the auctioneer keeps repeating is the dollar amount they are asking a buyer to bid.

The person you see and hear working among st the crowd of bidders is known as a ringman. This individual is part of the auction team and is an extension of the auctioneer. The job of the ringman is to convey bids back to the auctioneer from the crowd. When bids are received in the crowd, the ringman will yelp to signal the auctioneer that they have received a bid and to increase the bid amount. These individuals are also there to help answer questions you may have while the auction is being conducted.

Understand the type of auction you are participating in (absolute, reserve, etc.) and make sure to review the complete terms and conditions of the sale. You will want to arrive early to register for the auction. Certain auctions (i.e. real estate) may require a cashier’s check or other payment in advance of the auction to qualify you to bid in the auction.
If you are attending an auction with a live element, you will want to bid in sync with the chant. You should be listening closely and following the increasing bids. Remember: The number the auctioneer is repeating is where the bid is and what the auctioneer is now accepting.

We accept items for consignment after approval from our owner and auctioneer, Thomas.  If you would like to sell items, please call the auction house at 719-632-6693 to schedule a walk through appointment.  Thomas will come to your location and tell you what items we will take and what items won’t sell well.

Please call our office and give us details on what you have.  An appointment can be made to have our auctioneer, at no obligation, visit your site to do a physical inspection of the items to determine the best way to proceed with the auction.  We begin by analyzing your needs and help you decide if an auction is appropriate and when it could be moved to our location.

Please call our office and give us details on what you have.  An appointment can be made to have our auctioneer, at no obligation, visit your site to do a physical inspection of the items to determine the best way to proceed with the auction.

Sometimes an on-site auction is necessary: Holding an on-site auction depends on quantity and quality of merchandise, the location, parking, weather, toilets and other aspects of the site. We would be happy to determine what would work best for both parties. We are fully equipped with our mobile office, folding chairs, tables, portable sound & clerking systems, etc.  In cases where the sellers do not have enough merchandise to warrant their own auction, our location, has plenty of parking space, seating indoors, restrooms and more. 

Usually, within seven business days after all your items sale you will receive a complete, itemized printout of all sold merchandise including, descriptions, individual prices, itemized expenses including commission charged and the net total along with a check from Ross Auction.