FAQ'sMay 3, 2008
June 7, 2008
July 5, 2008
August 2, 2008
September 6, 2008
October 4, 2008
November 1, 2008
December 6, 2008
Auctions are also held on the third Saturday of each month at our Tucson property, located at 1702 South Euclid Avenue. The auction starts at 8 a.m., Arizona time. Tucson 2008 remaining Auction Dates (additional dates pending):
May 17, 2008
June 21, 2008
July 19, 2008
August 16, 2008
September 20, 2008
October 18, 2008
November 15, 2008
December 20, 2008 Q. When can I preview the items? A. The preview for both our Phoenix and Tucson auctions are held on the Friday preceding the auction, from 8 a.m. to 4 p.m. You can also view and bid online on many of the items that will be sold via Sierra's website- www.sierraauction.com Q. Is a bid deposit required? A. While there is no fee to preview the items, a cash or debit card deposit is required in order to bid on auction items. The deposit varies according to the type of items you would like to bid on. If you are interested in bidding on all types of items at the auction, including vehicles and equipment, the fully refundable cash or debit card deposit is $500. If you are only interested in non-vehicle items, the fully refundable cash or debit card deposit is only $200. Your deposit will be applied towards any purchases that you make during the course of the auction and will be refunded in full if you are not a successful bidder. Q. What is a Buyer's Premium or Buyer's Fee? A. A Buyer's Premium ("BP") or Buyers Fee is a fee the buyer pays in addition to the final bid price. BP is an extremely common auction practice that fairly divides the cost of holding the auction between the consignor and buyer. Christie'sT, Sotheby'sT, and Barrett-Jackson T, are just a few of the major auction houses that regularly utilize BP to fairly distribute the cost of holding the auction. Example: In the event your winning bid is $100 and if there is a 10% Buyer's Premium, the final purchase price is $110.00. Q. Are Sierra's auctions open to the general public? A. Yes, Sierra auctions are open to the general public. Auction is a fun and exciting method to buy great items at very competitive prices. For safety and insurance reasons all in attendance must be over the age of 12 years, and behave in a responsible manner. Q. How do I bid at your auctions? A. Sierra offers buyers numerous opportunities to bid both online and live. View our upcoming auction calendar page and look for the "online bidding" button to view opportunities to bid via the internet on auction items. We encourage you to join the event in person, as live bidding offers you the greatest opportunity to buy and to have a great time attending the event. We also allow absentee bids on selected items, and telephone bidding for larger auction items. To arrange for absentee or telephone bids, please click on the "contact us" link above. Q. Are there any auction terms or auction lingo that I should be familiar with prior to bidding? A. There are a couple of terms that you should be familiar with prior to bidding at the auction:
- "Times the Money" - The price you bid will be 'times the number of items' in the lot or lots. Example: Lot #1100 has 6 monitors and the auctioneer says this lot is 'times the money'. If you bid $50, you are bidding $50 per monitor. You would pay $50 X 6 = $300.00 (plus buyers premium and sales tax, if applicable).
- "One Money" - The price you bid for the lot(s) will be 'sold for one amount of money'. Example: If the auctioneer had said Lot #1100 is going for 'one money' and your bid $100, you would be purchasing the whole lot (all of the monitors) for only $100 (plus buyers' premium and sales tax, if applicable).
Please listen carefully to the auctioneer. If you do not understand what they are saying, please stop them and have any questions resolved immediately. Please, do not wait and bring your misunderstanding to the cashier. At this point, it is too late. A contract is entered into the instant the auctioneer accepts the final bid. The item is SOLD!
Q. How can I pay for my auction purchases? A. For vehicles and heavy equipment items, Sierra accepts cash, debit card, certified checks, and bank wire transfers. No credit card, personal or business checks may be issued to pay for vehicle or heavy equipment purchases. All items must be paid for the day of the auction. A late payment charge will apply for all payments received after 3 PM on the Monday following each auction.
Payments on non-vehicle and heavy equipment purchases may be made via cash, debit card, cashier's check, MasterCard, Visa, American Express, Discover Card, or bank wire transfer.
A 13% buyer premium will be charged to each item purchased, with a 3% discount for paying via cash, debit card, or bank wire transfer. Q. When can I remove the items that I have purchased? A. Once all items are paid for in full, you may remove your items by presenting your PAID receipt to Sierra's security personnel. All items should be paid for and removed on auction day. ALL items must be removed from the premises by 4:00 pm Wednesday following the auction. Removal shall be at the expense, liability and risk of the purchaser. Any items not removed by 4:00 pm Wednesday will incur a late payment charge, and may result in forfeiture and/or removal or dump fees. Deposits will not be refunded due to non-removal of your items. Q. Do auction items have a warranty or guarantee? A. All auction items are being sold AS IS, WHERE IS, with no warranty or guarantee of any kind. The descriptions of all items appearing in advertising or promotional materials are believed to be correct, but the inspection of and evaluation of those items is the responsibility of the bidder. Therefore, previewing and researching all the items you are interested in before the auction is strongly suggested. ALL SALES ARE FINAL. Sierra Auctions is not responsible for missing or broken items after the auctioneer sells them. ABSOLUTELY NO REFUNDS will be issued. Please be knowledgeable about the value of the items you bid on. Upon acceptance of the bid and the auctioneers declaring SOLD, a contract has been entered. Q. Will my winning items be safe after the auction is over? A. Please remove your items immediately. Sierra Auction Management Inc. and its personnel assume no responsibility for loss or theft of your items. It is the buyers' responsibility to insure the safety of the items they purchased. Persons attending the auction or preview, during exhibition, sale or removal of goods assume all risks of damage of or loss to person or property and specifically release the auctioneer from liability therefore. Neither the auctioneer nor his principal(s) shall be liable by reason of any defect in, or condition of the premises on which the sale is held. Sierra utilizes extensive video surveillance. Sierra employs uniformed, off-duty City of Phoenix Police Officers for the safety of all persons attending the auction. Shoplifting will be prosecuted to the full extent of the law! Q. How can I sell items in your auction? A. If you are interested in selling your item(s) at our auction, or are interested in having us host a remote auction at your location, please call 602-242-7121 in Phoenix or 520-882-5600 in Tucson. You may also contact one of our staff by clicking on our Contact Us Page.