All American Auction Service         
                      A Business That Works For You!                                                     Rebecca L Lawrence
                                                                                                                                ( "Becky" Auctioneer )
                                                                                                                                 Thomas W Lawrence  
                                                                                                                                  ( Business Manager ) 

                         Michigan Contract Auctioneers

Estate Auctions / Liquidations / Contract Auctioneering / Benefit / Charity Auctions / Antique & Collectibles / Appraisals / Estate Sale Setup

Auctioneers Notes

First I would like to make a few points about our auctions. These Rules Generally Apply To All Auctions and Auctioneers.

The Fall of The Hammer or "SOLD"

"The Auctioneer can Re-Open the Bidding at their sole discretion to all bidders anytime prior to the completion of the auction sale in a customary manner,

fall of the hammer and saying sold or he or she can declare the item sold"

This practice is completely Fair & Honest because it is the auctioneers job to obtain the highest bids for items being sold as long as the auctioneer did not declare the item as Sold

or the Hammer has fallen the transaction can still be completed.

Once the Hammer has Fallen or the word Sold has been declared then the contract has been fulfilled between the client, bidder and auctioneer.

Absentee Bidding

"It up to The Auctioneer at their sole discretion to allow Absentee Bidding at his or her Auction Sale"

Once again it is good for the auctioneer to allow absentee bidding it brings more money for the client (which is the auctioneers job) it allows others who for some reason can not attend to participate in the auction sale. It is completely legal and a honest practice even though some bidders get discouraged not seeing who they are bidding against. We allow our Head Clerk to handle this and bid on their behalf.

Reserved Bids

"It is solely at the discretion of The Auctioneer to allow Reserved Bids on any item or items being offered at his or her auction sale"

This is a Yes and No Decision that every auctioneer faces.

Some auctioneers think that if you place a reserve on an item the client might as well of listed the item for sale in the classifieds or wherever.

This can be good for the client if they was selling for instance a car that was worth 5 times the amount the bid was reached he does not have to sell the car.

However if the client wants to put a reserve price on Aunt Millie's quilt of an outrageous price because of sentimental reasons and the auctioneer knows it will not be reached he or she should be honest and be realistic with the client.

We try and discourage reserved bidding say if and item has a reserve of $500.00 and it reached a bid of $475.00 I would say let that auctioneer call the shot....that is being realistic.

Bidding by Employees

"It is at The Auctioneers discretion to allow their Employees to Place Bids at his or her Auction Sale"

We allow our employees to make bids on items they want at our sale their money is as good as anyone else's.

If we told them they could not bid at our auctions we would probably find it hard to keep a staff to work for us at all.

We tell our attendees when we are bidding on our own behalf for items at our auction. We usually let the floor have it because we don't want anyone getting mad at us.

We try and please Our Clients, Our Patrons, Our Staff, Even Ourselves with a Fair and Honest Auction

All Sales Are Final.

The Bidders Contract With The Auction Company

You The Bidder Agree To The Terms as Follows in Conjunction With This Auction.

There May or May Not Be Additional Terms Posted or Announced By The Auctioneer That Take Affect For The Sale and Are Also Amended To as Well as Binding To This Agreement

All Items Purchased Must Be Paid For in Full Before They Are Removed From The Premises. Nothing Will Be Removed Before Settled For.

All Purchases Must Be Paid For in Form of Cash, Good Check, Credit Card (if Accepted at this Sale). In the Event of Non-Payment or a Bad Check The Auctioneer Reserves The Right To Prosecute, Reposes at Any Location Any Items Involved. Furthermore Be Subject to Any Expenses Occurred For Any Such Actions Taken To Recover The Items In Question.

There Are No Warranties or Any Guarantee of the Sale Items That are Purchased. The Auctioneer And Staff Are Acting As Selling Agents Only.

You The Buyer Are Responsible For Any and All Inspections Of The Sale Items. All Purchases are As Is Where Is. All Advertisements Made Prior To The Auction Are Believed To Be Accurate Nevertheless Descriptions or Statements Made By The Staff or The Auctioneer May and Will Not Constitute Warranty or Any Guarantee in Anyway.

You The Buyer/Bidder Understand That You Have Inspected and Examined The Items of Purchase And Take Full Responsibility For Your Purchase.

The Auctioneer Will Designate The Winning Bidder After Selling Each Item Of The Auction. If However A Dispute Arises Between Two Bidders The Auctioneer Reserves The Right To Reopen The Bidding Between The Two Said Parties And Sell To The Highest Bidder. All Sales Are Final!

Buyers Responsibility, Once The Item (s)  Have Been Purchased The Purchaser Is Now Responsible For The Item (s) The Auctioneer is Not Responsible For Lost or Stolen Item (s) After The Fall of The Hammer. This Does Not Matter Even if The Item (s) Have Not Yet Been Paid For. You The Buyer Assumes All Losses or Damage Thereafter.

All Purchases Must Be Removed As Per Time Set By The Auctioneer or a Time Must Be Agreed Upon Between The Purchaser and The Seller/Auctioneer. If not Removed The Auctioneer or The Seller Reserves The Right To Remove or Dispose of The Item (s) as They See Fit And Any Expenses Occurred Will Be Demanded From The Purchaser.

The Auctioneer Is Not Responsible For Accidents or Injuries Occurred Before, During or After The Auction.

"A sale by auction is complete when the auctioneer so announces by the fall of the hammer or in other customary manner."

No guarantee's / warranties will be implied you the buyer "is" responsible for authentication The Auction Company Acts as Selling Agent Only!

Reserve Auction or Subject to Confirmation This is the minimum price that a seller is willing to accept for a property to be sold at auction.

Also known as the reserve price.

An auction in which the seller retains the right to establish a minimum price, to accept or decline any and all bids or to withdraw the property at any time prior to the announcement of the completion of the sale by the auctioneer. (Also known as “Auction with Reserve” and “Auction Subject to Confirmation”)

Buyers Premiums in most cases the buyer's premium collected belongs to the seller, not the auctioneer or maybe sometimes both.

That's because the assets sold are the seller's, so the money generated from their sale belongs to the seller unless otherwise split between seller and auctioneer. Remember, the auctioneer is merely an agent for the seller.

The auctioneer's fiduciary duty means that all things must be done for the advantage and gain of the seller or both parties, not just the auctioneer or the seller.

The auctioneer has no entitlement to any auction proceeds, including the buyer's premium,

"Unless specifically stated in the auction contract with the seller."

* "At our auctions the Buyers Premium goes to the Auctioneer and not the seller unless amended in the contract with the sellers agreement". *