Buying
How can I preview lots online for an upcoming auction?
All of our auctions are posted online approximately one week prior to the auction. Visit our Auction Calendar page to preview the upcoming auction. Once the auction is posted online, buyers can begin pre-bidding if you plan to bid online.
How can I preview lots in person for an upcoming auction?
Currently, we are on-line viewing only. If you have any questions, please send an email. We usually answer within a couple of hours.
What is a buyer’s premium?
The buyer’s premium is a percentage additional charge on the hammer price (winning bid at auction) of the lot that must be paid by the winner. Hammer Price + Buyer’s Premium = Purchase Price
How much is the buyer’s premium at Rice Texas Online Auction Sales ?
We Charge a 15% Buyer’s Premium.
What About Sales T ax?
We Charge State of Texas Sales Tax of 8.25%, unless we have your tax information on file.
What is an absentee bid?
We currently only have on-line bidding, all bids are absentee currently.
Will I automatically have to pay the whole amount of my absentee bid?
Your absentee bid is only your maximum bid. The auctioneer starts each lot at either half of your absentee bid or the current bid online – whichever is greater. For example, if you leave an absentee bid of $100 on a lot, the auctioneer will start the bidding at $50 if there are no other competitive bids. You are required to pay a minimum of 50% of your max bid.
Why did I lose a lot to a bidder bidding the same amount?
If someone else bids the same amount as you bid, the first bidder will win the auction.
What is a bid increment?
Bid Increment is minimum amount an auction bid must be raised each time the current highest bid is surpassed.
Does the auction accept a telephone bid?
Currently we only have on-line bidding, so no telephone bids.
How do I bid online?
Bidding online is easy! Just register with our online bidding platform. Information needed to register includes name, billing & shipping address, email, phone number, and credit card information. You can then bidding via desktop or with our mobile app. With the ease of the mobile app, you can bid from anywhere! The mobile app can be downloaded from the App Store or Google Play. If you are having any difficulty with your online registration, don’t hesitate to contact us directly.
I am pre-bidding online, why did my bid jump so suddenly?
Bids only increase if there is a competitive bid. Until someone bids against you, your bid will remain at a minimum.
How do I know if I have won?
An invoice with winning lots will be emailed to you at the conclusion of the auction.
I have changed my mind, can I return my purchased item?
All sales are final with no returns or exchanges. Please ask all questions before deciding to bid. We try to offer a clear description and provide photographs, but sometimes things are missed. If you have any questions regarding the condition of an item, please contact us directly at least 24 hours prior to the auction.
Selling
How do I consign an item?
If you have an item you are interested in consigning, please contact us directly. We have a contact form with more information on our ‘How to Consign’ page. Items must first be approved by our auctioneer before we accept them for consignment.
How much does it cost to consign an item?
Rice Texas Online Auction Sales charges a consignment percentage for items sold. The percentage rate is determined by how much each lot is sold for. Items sold for a higher dollar amount are subject to a lower percentage than items sold for a low dollar amount. charged.
Can I put a reserve on my item?
Typically we do not offer reserves on items. With marketing and the competitive bid system, items consistently bring the current market value. In the very rare exception we do allow for a reserve (minimum of $500 value), the item will be subject to a $100 fee if it does not meet the reserve price.
How is my check calculated?
Consignment percentages are based on each lot individually – not the total of your items sold collectively. You will receive a check along with a consignment order detailing how much each lot sold for.
When will I receive my check?
Checks are sent our approximately 21 days after the last item on your contract has sold.
Do you conduct tag or estate sales?
Yes, we do estate sales, even though we prefer to do online auction sales. Sometimes, it is not possible to do an entire estate online, so an on site estate sale is the best choice.
Miscellaneous
What is an auction?
An auction is a public sale in which goods are sold to the highest bidder. The auctioneer guides the bidding with a set bid increment and the item(s) is sold to the highest bidder when there is no longer a competitive bid.
How often do you host auctions?
We usually have one sale per week, but sometimes more.
Where are the auctions held?
Online only .
How can I be notified of upcoming auctions?
We send out an email notifying everyone when an auction catalog is posted online and ready for preview. We will never sell or spam you with emails other than those that are auction related. If you are not on our mailing list yet, you can sign up here.
What does ‘As-Is, Where-Is’ mean?
As-is, where-is is a common auction terminology meaning that you the purchaser are agreeing to purchase a lot in an auction in its present condition at its current location.
What other services do you provide?
Rice Texas Online Auction Sales is able to help you with estate & collections liquidations, either by on-line auctions or in person estate sales.