Buying at Auction
Jacksons Auction & Real Estate Company provides several bidding options:
Live Auction
Join us at our Indianapolis showroom or on location for an auction. You will need to register at the auction with government photo identification. You will then be given a bid number which you will use to bid on your desired items. An item is displayed at the auction and the auctioneer will ask a price; if you are willing to give that price, then raise your bid number. The auctioneer will acknowledge your bid and ask for the next highest bid from those attending the auction. If another bidder then bids, you will be given an opportunity to bid again. If you are the highest and final bidder, you have successfully purchased the item. The final bidder has entered into a legal contract for the purchase of the item upon completion of the bidding for that item (when the auctioneer says "sold"). When you are done bidding on all your items, you will need to pay your bill at the cashier. You may pay with check (pre-approved), cash or credit card (only at auctions held in our auction showroom). You must pay the day of the auction and prior to removing your items from the showroom. Jacksons Auction Company charges a 10% buyer's premium on top of the final bid (see below). The State of Indiana does not require sales tax at on-location estate auctions, but it is required at most of our showroom auctions.
Online Auction
Jacksons Auction Company uses online (Internet) bidding for many of our auctions. Auctions that offer online bidding will provide a link in the auction announcement on our Web site that will take you to our online (Internet) bidding partner. You will find instructions and registration information on their site, and you can then bid from the comfort of your own home or office.
Absentee and Phone Bidding
If you are not able to attend the auction and want to bid, you may want to utilize our absentee or phone bidding options. Please see our Absentee Bidding Form for instructions. If the item you are interested in purchasing has an estimated value of more than $500.00, you can request to bid on the item over the phone during the auction. Up to three (3) phone bidders are able to register on any one item in an auction. You can become a registered phone bidder by contacting us at (317) 797-2117 before the auction. During the auction one of our auction assistants will contact you and assist you with bidding via the phone during the sale of your requested item.
Buyer's Premium
A 10% buyer's premium is added to your final hammer price. Therefore, if your final bid was $100.00, then you will pay $110.00 for the item. A buyer's premium is a charge for buying at auction that enables the auction company to advertise and contract quality items to sell to the public.