FREQUENTLY ASKED QUESTIONS
What is a buyer’s premium?
It is standard practice in the auction industry to charge a buyer’s premium. A buyer’s premium is a percentage amount charged on top of the bid price. For example if you bid $100 on an item you would actually be paying $110. Remember tax is charged on the price paid for the item which includes the buyer’s premium. We typically charge a 13% buyers premium with a 3% discount for cash on personal property auctions. The standard buyer’s premium for Real Estate auctions is 10%.
Is sales tax added to the buyer’s purchase?
Under Florida Law, all purchases are subject to sales tax unless you have a valid Sales Tax Exemption Certificate. The Tax Exemption Certificate must be provided prior to payment.
Are there any guarantees on the items purchased?
All items are sold on an “As Is, Where Is” basis with no warrantees or guarantees, expressed, implied or otherwise. This means there are no guarantees and no returns under any circumstances. The buyer is responsible for inspecting the items prior to purchase and protecting their items after purchase.
Can a buyer bid online?
Most of our auctions are conducted live and online. We use Proxibid when offering items for auction online. Occasionally, depending on the type of sale or item we will not offer the item for online bidding, but we use online bidding often and whenever possible.
Can I leave an absentee bid?
Most of our auctions are available online as well as live for your bidding convenience.
When bidding online, is there an additional buyer’s premium?
Yes, Proxibid charges an additional online buyer’s premium. The online buyer’s premium fluctuates depending on the type of item being sold. All online buyers’ premiums will be announced online in the terms and conditions section on Proxibid website.
What forms of payment do you take?
Typically we take cash, cashier’s checks, MasterCard and Visa. We do not take personal or business checks unless they are accompanied by a bank letter of guarantee. An example of the bank letter of guarantee can be provided upon request. Please pay attention to the terms and conditions on each sale as we do not take credit cards on vehicles or real estate. The terms and conditions on Real Estate Sales vary with each sale so please pay close attention to the requirements in order to bid.
Do you provide delivery?
It is the buyer’s responsibility to arrange for the pick-up and delivery of the items bought at auction. Pick up times vary with each auction but most items are required to be removed from the auction the same day as the sale. Occasionally on bigger items we can arrange an extended pick up time.