Bidding Information and FAQs

 

When shopping at estate sales, it is not uncommon to see something you desperately want, but at a price you do not want to pay.  This is where the bidding process comes into play.

 

We try to make the bidding process as easy as possible and our rules my differ from other companies so please read our follow advice.

 

The following are questions we are commonly asked, and some ground-rules for the process itself. 

On what items may I leave a bid?

You may leave a bid on any item, however that does not mean that every bid is considered a valid bid.  If you leave a bid of $1.00 on an item marked $200.00 your bid will be discarded.  You will get the best results for bids if you place a bid for higher than half the original price of an item. Bids left for less than half of the original price are accepted, but fewer than 10% of these win. 

 

We suggest leaving a bid of at least 60-80 percent of the original cost.

 

Can I place a bid by phone?

Yes, we accept phone bids on the condition that you have personally inspected the item. We will not accept phone in bids until you have visited the sale and examined the condition, personally. (405) 528-0127. 

 

When do you call the bids?

We call our bids Sunday morning before we open.  We wait until then to verify that the item is still for sale in the house, as sometimes the family will change their mind on Saturday evenings.

 

We will call between 11am and 1pm, and we must receive a confirmation from you that you still want the item.  If you do not answer, we will leave a message, but we must get confirmation from you by 1pm Sunday. If your bid is unconfirmed we will not hold the item for you, and it then will be for sale when we open on Sunday.

What helps my chance of wining a bid?

A common mistake most bidders make is they bids for exactly half price or one dollar more. We have had instances where we had multiple bids for the exact same amount on an item, and when this happens we  have to pick a lucky bidder at random. 

 

My best advice is to leave a bid of at least 60-80 percent of the original price.

 

If I leave a bid for exactly half price will I win if no body else bids?

Maybe,  we sometimes call half price bids and sometimes we do not. If we have someone in line waiting to buy an item when we open, we will give preference to them over a bidder. If no one is waiting in line, we will call you and let you have the bid. This is why we suggest you bid at least 60-80 percent of the original price.

What if I change my mind on a bid I left?

When we call you about your bid, we will check to verify if you still want the item.  We understand that sometimes people change their minds, or you may find out an item is to small or large for your needs. We give you the opportunity then to change your mind before we hold an item for you. 

 

However, if you change your mind after you have confirmed, and we have  held an item for you, we expect you to purchase the item. This is because you will have prevented us from selling it to another shopper and this ultimately hurts our client.

Remember:

The bidding process of the estate sale industry is built on trust, and if you do not follow through on your bids, we will be unable accept bids from you in the future.

 

Thank you.

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James Bean Estate Sales is Oklahoma's Most Experienced Estate Liquidator. Contact us today for a consultation.

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