7/17/18 12:31 PM
Gold: $1,227.13
Silver: $15.60
Platinum: $813.95
Palladium: $911.67
G/S: 78.66
Pt/G: 0.66
map11005 Olive Boulevard
St. Louis, MO 63141
phone 314-692-2646 email Email
hoursMon - Fri: 8am to 5pm (CT)
Sat: 8am - 4pm (CT)

Bidding FAQs

Scotsman Auction Co. offers to bid on behalf of absentee bidders as a convenience to our customers. While we will make every effort to accurately execute your bid(s), Scotsman Auction Co. is not responsible or liable for error or failure to execute such bids. Scotsman Auction Co. reserves the right to refuse bids from anyone. Absentee bidders are bound to the same Terms and Conditions found on this website and in the printed auction catalogue.

FAQ

I can't make it to the auction but would like to bid. What should I do?

Scotsman Auction Co. offers many opportunities for bidders to participate in our auctions other than by attending in person.

  1. Our website allows you the ability to compete against other users online on the days leading up to the sale through our state-of-the-art bidding software. Shortly before the sale, online bids are compiled, and our agents execute the bids on behalf on our online participants.
  2. Telephone bidding is also an option for those who are unable to attend our live sale. By calling our St. Louis offices toll free at 800-642-4305, you can submit your bids over the telephone on the days leading up to the sale, and we will record those bids and execute them for you during the sale. We require you to submit a valid credit card number if bidding by this method. Anyone wishing to place a reasonable bid over $5,000 on any individual lot may request to bid live via the telephone through one of our agents during the sale. We will try to accommodate all such requests.
  3. Faxing your bids, using the official bid form (not available online) found in our printed catalog is also an absentee bidding option. Faxed bids must be submitted on an official bid form and received by the bidding deadline set for the sale in question. If you do not have an official bid form, please contact us and we will fax one to you.
  4. Mail bids are accepted as well, and this is a popular method of sending absentee bids. Bids must be received by the bidding deadline and submitted on an official bid form (not available online). If you do not have an official bid form, please contact us and we will send you one. NOTE: When faxing or mailing your bids, please write legibly and make sure the bids are written dark enough to fax clearly.

What is a Buyer's Premium? How much is Scotsman Auction Co.'s Buyer's Premium?

A Buyer's Premium is a percentage that the successful bidder must pay in addition to the hammer price for each lot. Scotsman Auction Co.'s buyer's premium is 15%. So, if you won a lot that hammered for $100, your total amount due for that lot would be $115.

What are the bidding increments?

The auctioneer will progress bidding based on the set bidding increments.

  • $0 to $100 : $5
  • $100 to $400 : $10
  • $400 to $1,000 : $25
  • $1,000 to $2,000 : $50
  • $2,000 to $5,000 : $100
  • $5,000 and greater : $250 or higher, as determined by the auctioneer

What happens to my absentee bids once you receive them?

After receiving your bids by telephone, fax, or mail, we will log your bids in our auction system as they arrive. Each bid will then be uploaded to our online bidding system in order to compete against our online bidders. If your bid exceeds the highest online bid, or if no online bidder has placed a bid, you will be the current high bidder at one bidding increment above the second highest bidder's maximum bid, or one increment above the Internet starting price, respectively.

Is it possible to win a lot for less than the amount I bid?

Absolutely! In fact, there are only two reasons why you would ever have to pay your full bid amount. The first is if another bidder bids against you up to one increment below your maximum bid. The second is if the reserve price equals your maximum bid.

How does Scotsman bid on my behalf at the sale?

On the day of the sale, we will compile all the current high bids (opening bids) for each lot in which the reserve price has been met. The names of the bidders who placed those bids, and their maximum bid amount, will also be recorded. Those bidders will each receive a unique number that will be used during the live auction by one of our representatives to bid on their behalf. When bidding begins on each lot, we will open the bidding at one increment above the second highest bidder's maximum bid. If there are no live floor bids, the lot will be sold to the highest absentee bidder for the opening bid amount. If there is floor participation, one of our representatives will compete, incrementally, on behalf of the absentee bidder until his/her maximum bid has been exceeded. By executing bids in this manner, lots are often won by absentee bidders below their maximums. Here is an example: If you place an absentee bid of $1000 on a lot, and the second highest bidder, either absentee or floor, has a maximum bid of $800, you would win the lot at $825.

What happens if my maximum bid is equal to another bidder's maximum bid?

In instances of a maximum bid tie, the bid recorded into the computer system first takes precedence. We record all bids within 24 hours of receiving them. If there is a tie between an absentee bidder and a floor bidder, the floor bidder has the opportunity to win the lot by placing a higher bid that is on increment or equal to the current bid plus ½ of the next bidding increment.

Do my bids have to equal a bidding increment?

Your absentee bid does not have to equal an increment amount. However, it must at least meet the next bidding increment above any current bids already recorded into the computer to be recognized. There is an advantage of bidding out of increment if you believe other floor or Internet bidders will be unwilling to go above a specific increment price.

How will I know if I win a lot?

At the conclusion of the sale, we will print an invoice for all winning bidders and send them in the mail. Internet bidders also have the ability to see if they won any lots by accessing their account online.

When must I pay for lots I won? What are my payment options?

Successful bidders are required to make full payment for lots won upon receipt of invoice, unless a prior credit arrangement has been made. In order for a successful bidder to receive his/her lots, payment in full is required. Acceptable methods of payment include cash, check, wire transfer, money order, credit card (Visa, MasterCard, American Express, and Discover), and PayPal. Credit card and PayPal (johnw@scoins.com) payments may not exceed $5,000 and will only be shipped to the payer's billing address. Check payments will have to clear normal banking channels before shipment of lots.

How will my lots be shipped? What are the shipping charges?

All lots, unless otherwise requested, will be shipped U.S. First Class, Priority, or Registered Mail depending on the value of the items being shipped. The shipping cost is dependent upon the total value of lots won, including the buyer's premium, and is added to the buyer's invoice.

  • Less than $100 : $8.00
  • $100 to $199.99: $10.00
  • $200 to $999.99 : $12.00
  • $1,000 to $2,499.99 : $13.00
  • $2,500 to $3,499.99 : $17.00
  • $3,500 to 4,999.99 : $20.00
  • $5,000 to $9,999.99 : $23.00
  • $10,000 and Above : $26.00

Can I submit "either-or" bids?

"Either-Or" bids are allowed, but these bids must be submitted via fax, telephone, or mail. Our clerks bid on behalf of absentee "either-or" bidders live at the auction. While we do our best to successfully execute bids on behalf of "either-or" bidders, we can make no guarantees.

If you have any questions, please do not hesitate to call us toll-free at 800-642-4305.