Auction FAQs | Higher Calling Auctions
Welcome to our Auction FAQ section. Whether you're a first-time bidder or a seasoned buyer, this page covers essential auction industry knowledge and specific information about participating in auctions hosted by Higher Calling Auctions.
1. What is an auction?
An auction is a competitive buying process where goods, property, or real estate are sold to the highest bidder. Formats include live, online-only, simulcast, and sealed bid auctions.
2. What types of auctions does Higher Calling Auctions conduct?
We specialize in Fundraising, Real Estate, Personal Property, Business Liquidation, and Single-Item Auctions. Our auctions can be live, online-only, or a hybrid of both.
3. What is a buyer’s premium?
A buyer's premium is a percentage fee added to the winning bid to cover administrative and operational costs. The rate is disclosed in each auction's terms.
4. What are bid increments, and how do they work?
Bid increments are the minimum required increases between bids. They are automatically set based on the current bid level and help ensure smooth bidding.
5. Are auction purchases final?
Yes. All auction sales are typically final and sold "as-is, where-is" unless otherwise stated. No returns or refunds are allowed.
6. What does "as-is, where-is" mean?
It means the item is sold in its present condition and location, with no warranties or guarantees of functionality or condition.
7. What is extended bidding?
Extended bidding is a feature that resets the countdown timer if a bid is placed within the final minutes, giving all bidders an equal chance to respond.
8. What does "reserve price" mean?
A reserve price is the minimum amount a seller is willing to accept. If bidding doesn't meet that amount, the item may not sell.
9. What is a no-reserve auction?
In a no-reserve auction, the item sells to the highest bidder, regardless of the final price.
10. Are there taxes on auction purchases?
Yes. Sales tax may apply depending on the item and buyer location. Tax-exempt buyers must provide documentation before the auction closes.
11. How do I register to bid in an online auction?
Go to bidwithhca.com, select an auction, and follow the registration steps. A valid credit card is required for verification.
12. Can anyone register to bid?
Yes, any person 18 years or older can register. Real estate auctions may require proof of funds or additional documentation.
13. Can I cancel a bid?
No. Bids are binding and final. Always confirm your bid amount before submitting.
14. How do I know if I won an item?
Winning bidders receive email and/or text notifications. You can also log into your account at bidwithhca.com to view results.
15. What happens after I win an item?
You’ll receive an invoice and instructions for payment and pickup. Payments are due promptly based on auction terms.
16. How do I pay for auction items?
Accepted methods may include credit card, wire transfer, or cashier’s check, depending on the item and auction type.
17. Is my personal information secure when I register?
Yes. Your data is encrypted and never shared or sold.
18. What is a Max Bid?
A Max Bid is the highest amount you are willing to pay for an item. The auction system automatically bids for you in the lowest increment necessary until your maximum amount is reached.
19. Can I change or cancel my Max Bid?
You can increase your Max Bid at any time, but you cannot reduce or cancel it once it has been placed. Always confirm before submitting.
20. Can I preview items before bidding?
Yes. Many auctions offer in-person previews or appointment-only inspections. Preview details are listed in each auction's terms.
21. What are the pickup procedures?
Winning bidders will schedule a pickup through a link provided via Shipping Saint. Bring help and tools for loading your items.
22. What if I miss the pickup window?
Contact us immediately. Missed pickups may result in disposal or rescheduling fees. Items not collected may be forfeited.
23. Do you offer shipping?
Yes. Shipping is available for most small to medium items. Buyers are responsible for all shipping and handling costs.
24. Who is responsible for loading and transporting large items?
The buyer is responsible for all rigging, loading, and transporting. We can provide contact information for professional transporters.
25. How can I sell items through Higher Calling Auctions?
Contact us at [email protected] or call 636-344-0663 to schedule a consultation.
26. What makes Fundraising Auctions unique?
Fundraising Auctions are tailored to support nonprofit missions. We help engage donors, boost giving, and build memorable experiences.
27. What’s included in a Business Liquidation Auction?
These auctions include machinery, inventory, tools, and assets from closing or downsizing businesses.
28. How do Real Estate Auctions work?
Real estate auctions require bidder registration, proof of funds, and review of all terms and disclosures before participating.
29. What is a Single-Item Auction?
These focus on one high-value or specialty item. Ideal for collectors or targeted campaigns where spotlighting one asset is key.
Still have questions?
Email us at [email protected] or call 636-344-0663. We’re here to help you bid with confidence!