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Auction guides
Plain answers to what people ask about online auctions: what things really cost, how bidding and the clock work, getting your items home, and how auction houses run a timed sale.
For bidders
- How Do Online Auctions Work? A Plain-English Guide for BiddersOnline auctions work like a live sale stretched over days.
- How to Win Online Auctions: A Bidder's PlaybookTo win online auctions, decide your all-in limit before you bid, convert it to a maximum hammer bid, and enter it early as a max bid.
- What Is a Buyer's Premium? How Auction Fees Add UpA buyer's premium is a fee the auction house adds to the winning bid, usually a percentage of the hammer price.
- Auction All-In Price: What You Really Pay for a Winning BidAn auction all-in price is the total you pay for a lot: the hammer price plus the buyer's premium, sales tax and any shipping.
- Soft Close Auctions: How the Extended Clock WorksA soft close auction extends a lot's closing time whenever someone bids in its final minutes.
- Proxy Bidding and Max Bids: How Automatic Bidding WorksProxy bidding lets you enter the most you would pay, your max bid, and the auction site bids for you one increment at a time, only when someone outbids you.
- What Is a Reserve Price in an Auction?A reserve price is the lowest amount a seller will accept for a lot, set before the auction and usually kept secret.
- Auction Bid Increments: How Much the Next Bid Goes UpAuction bid increments are the minimum amounts each new bid must rise over the current one.
- Are Online Auctions Safe? How to Bid Without Getting BurnedOnline auctions are generally safe when you bid with established, licensed auction houses on a platform that verifies bidders and takes card payments.
- How to Pay for Auction Items: Methods, Deadlines and InvoicesYou pay for auction items after the sale closes, when the auction house sends an invoice for everything you won: hammer price, buyer's premium, sales tax and any shipping.
- Auction Pickup: How Collecting Your Winning Lots WorksAuction pickup is when you collect the lots you won at the auction house's warehouse or the sale site, during set times after the sale closes.
- Do Online Auctions Ship? How Auction Shipping WorksSome online auctions ship and some are pickup only; it depends on the auction house and the sale.
- Auction Preview and Inspection: How to Check Items Before You BidAn auction preview inspection is a set time, usually before bidding closes, when you can see and handle lots in person.
- Estate Sale vs Estate Auction: Which Is Better?An estate sale is a tag sale held in the home, with marked prices that often drop over two or three days.
- Estate Auctions: How to Find, Inspect and Win the Best LotsEstate auctions sell the contents of a home, from furniture and tools to jewelry and collectibles, to the highest bidders, often as an online timed sale with a preview and pickup at the house or a warehouse.
- Liquidation Auctions: How to Buy Returns, Overstock and PalletsLiquidation auctions sell goods a retailer or business needs to clear fast, such as customer returns, overstock, shelf pulls and store closures, often well below retail.
- Amazon Return Pallets: What's Inside and What to Pay at AuctionAmazon return pallets are pallets or boxes of customer returns, overstock and shelf pulls that liquidators and auction houses resell in bulk.
- Open Box vs Used vs For Parts: Return Condition Grades ExplainedOpen box means the item was opened but is complete and unused or barely used.
- Flipping Auction Items for Profit: How to Buy Right and ResellFlipping auction items for profit means buying lots below what they resell for, then selling them online or locally.
- Auction Sniping: What It Is and Why It Fails on Soft CloseAuction sniping is placing a bid in the final seconds so other bidders have no time to respond.
- What Happens If You Win an Auction and Don't Pay?If you win an auction and don't pay, the auction house can cancel the sale, relist the lot, block you from its future sales and pursue whatever its terms allow, such as fees or collection of the balance.
- Do You Pay Sales Tax at Auctions in Texas?Generally, yes.
- Using a Texas Resale Certificate at AuctionsA Texas resale certificate, Form 01-339, lets you buy items you will resell without paying sales tax at the auction.
- How to Get Good Deals at Auctions (and Spot the Real Bargains)To get good deals at auctions, know what an item really sells for, set your max bid on the all-in price, and look where fewer bidders compete: pickup-only lots, bulky items, weekday closes, poor photos and mixed box lots.
- First Time at an Online Auction? A Bidder's ChecklistFirst time at an online auction? Read the sale's terms, check pickup or shipping, note the buyer's premium and sales tax, and add a card before you bid.
- Tool Auctions: How to Buy Power and Hand Tools for LessTool auctions sell power tools, hand tools and shop equipment from estates, contractors, business closures and store returns, often for less than retail.
- Buying Furniture at Auction: What to Check, Pay and HaulBuying furniture at auction can get you solid, well-made pieces for less than new, but the deal depends on condition and logistics.
- Buying Collectibles at Auction: Value, Condition and FakesWhen buying collectibles at auction, price from recent sold results for the same item in the same condition, check the photos for damage, repairs and signs of reproduction, favor graded or documented pieces for high-value items, and set your max bid on the all-in price.
- Shill Bidding: How It Works, Warning Signs and What to DoShill bidding is when the seller, the auction house or someone working with them bids on a lot to push the price up, with no real intent to buy.
- Timed Online Auction vs Live Auction: Which Is Right for You?A timed online auction runs for days, and each lot closes on its own clock, so you can bid anytime from your phone.
- Auctions Near Me: How to Find Local Auctions This WeekTo find auctions near you, search by ZIP code on an online auction site's near-me page, check local auction houses' sale calendars and join their email lists.
- What to Bring to an Auction Pickup: A Practical ChecklistBring a photo ID, your paid invoice or receipt on your phone, a vehicle big enough for what you won, and the gear to load it: straps, moving blankets, a dolly, gloves and basic tools.
For auctioneers
- Online Auction Software for Auction Houses: What to Look ForOnline auction software lets an auction house catalog lots, run bidding on the web, and invoice and collect from winners.
- Timed Auction Software: Soft Close, Staggered Lots and Fair BiddingTimed auction software runs online sales where every lot closes on a clock instead of an auctioneer's call.
- Looking for a HiBid Alternative? What to Compare Before You SwitchA good HiBid alternative is one that costs less on your real sales and is no harder for your bidders.
- Auction Software Pricing: Fees Explained, With Worked ExamplesAuction software pricing usually combines a monthly fee with some mix of per-lot fees, per-bid fees and a percentage of hammer, plus card processing.
- How to Run an Online Auction: A Step-by-Step Guide for Auction HousesTo run an online auction, set your terms (buyer's premium, tax, payment and pickup), catalog every lot with clear photos and honest condition notes, choose when bidding opens and how lots close, promote the sale for about a week, watch the live board as lots close, then invoice winners, collect payment and hand out items.
- How to Start an Auction Business: Licensing, Costs and First SaleTo start an auction business, pick a niche you can source steadily (estates, liquidation or consignments), get any license your state requires (in Texas, from TDLR), set up your business and sales tax permit, write clear terms, choose online auction software, and run a small first sale to learn the work before you scale.
- How to Catalog Auction Items Faster (Without Cutting Corners)To catalog auction items, give each lot a number, a searchable title (brand, model, key detail), several clear photos, honest condition notes, a category and an opening bid.
- Barcode Scanner for Auction Listings: Scan Once, Get a Finished LotA barcode scanner for auction listings reads a product's UPC or EAN code and looks it up, filling in the title, stock photo, brand, category and retail price so you only add condition.
- X00 FNSKU Lookup: Turn Amazon Return Stickers Into Auction LotsAn X00 code is an Amazon FNSKU, the warehouse label Amazon uses to track a seller's inventory.
- Auction Lot Labels: What to Print and How to Use ThemAuction lot labels tie each physical item to its listing.
- How Much Buyer's Premium to Charge: A Guide for Auction HousesBuyer's premiums at regional auction houses commonly run from 10% to 20%, with 15% a frequent middle ground.
- Auction Soft Close Settings: Window Length and Lot StaggerFor most timed sales, a 2-minute soft-close window with lots closing 15 to 30 seconds apart works well.
- How to Get More Bidders for Your AuctionTo get more bidders for an auction, make lots easy to find and easy to trust.
- Liquidation Auction Software for Returns, Pallets and OverstockLiquidation auction software has to turn pallets of returns and overstock into hundreds of lots a week.
- Estate Auction Software: Catalog a Whole House and Sell It OnlineEstate auction software helps you catalog a whole household of one-of-a-kind items, run a timed online sale, and clear the house by a deadline.
- The INFORM Consumers Act and Auction Houses: What It AsksThe INFORM Consumers Act, in effect since June 27, 2023, requires online marketplaces to collect and verify information from high-volume third-party sellers: those with 200 or more sales and $5,000 or more in gross revenue in a continuous 12-month period.
- How to Accept Credit Cards for Auctions, Online and at PickupTo accept credit cards for auctions, connect a payment processor so winners can pay invoices online by card after the sale, and keep a card reader for pickup if you need one.
- How to Sell Items at Auction: Find a House, Consign and Get PaidTo sell items at auction, find a local auction house that sells your kind of goods, ask about its commission, fees and timing, and sign a consignment agreement.