Types of On-Line Auctions:
Simulcast Auctions – A Simulcast Auction is a combination of a Live and Internet Auction. It’s a live, on-site auction with in-person bidders AND the availability to bid on-line during the live auction from your computer, phone, or tablet.
Online Only Auctions – An online only auction is an auction that is held online only and there is no live in-person bidding available.
How do I register for an On-Line Auction?
To register from your computer, laptop, etc.:
- View the www.smithcoauctions.com website. Click the ‘Bid Online’ tab. Current auctions will be displayed on the screen. You will see a button for the Catalog, Registration and Auction Details.
- The Auction Details will contain the terms and conditions of the Auction. You will be required to check a box during registration agreeing to the terms and conditions. If you have any questions or if any of the information is unclear to you, please contact us.
- Click the “Register to Bid” button on the page. It will pull up a Bidder Login Box. If you have registered before please type in your User Name and Password. You will then be taken into the bidding area of the auction. If you are a new user there is a link below that says “New Bidder? Click here”
- The first step is to verify a valid email address. Each account must have a valid unique email address.
- Please type in the email address and confirm the email address. Then click the “Check Email” button.
- The system will check that the email address provided is not being used.
- Fill out all of the required information on the form accurately and in in its entirety. You will need to enter a Unique Username that is not being used and Password. Confirm the password. Check your desired account options and click the “Create New Account” button. A welcome screen will show that your account has been created.
- Please maintain your Username and Password in a safe place. You will need this to log in later.
- Click the “OK” button. This will take you to the credit card screen.
- Click the “Add/Edit Payment Options” Button. A ox will ask if you want to leave the page. This takes you into the secure area in your account to record your Credit Card information. Click the ‘Leave Page’ button.
- This will open up your Payments Methods under your account. Please enter the required information and click the “Save Payment Information Button”
- A box will appear showing that the payment method has been saved. Click “OK”
- Click the “Return to Registration Button”. At this point you will be registering for this specific Auction. Under the Payment Method Verification click the circle for the card you just entered. At this point, you can also send a message to the clerks: for example, let them know your Farm Tax ID# to avoid tax, etc. View the Terms and Conditions. Check the box that says “By checking here you acknowledge that you have read and accept the terms and conditions.”
- Click “Submit Registration” Button. A box will appear that says that you have been successfully registered. Click “OK”
You now will be in the bidding area of the website. Happy Bidding!
We highly recommend that you DO NOT wait until the last minute to register to bid. While you may wait to place your bid at a later time, by registering in advance, you can feel rest assured that you understand the bidding tools.
It is important that you familiarize yourself with all the terms and conditions BEFORE BIDDING. The terms of sale are non-negotiable.
To register from iPhone, iPad or Android Device
YOU MUST KNOW YOUR APPLE ID AND PASSWORD
- Open the ‘App Store’ and click on Search (the magnifying glass)
- Type ‘Smith & Co Auctions’ & Download the App
- Open the App and click on the red ‘Auctions’ button
- Scroll to the auction you are interested in and click on the ‘Register’ button. It will pull up a Bidder Login Box. If you have registered before please type in your User Name and Password. You will then be taken into the bidding area of the auction. If you are a new user there is a link below that says “New Bidder? Click here”
- The first step is to verify a valid email address. Each account must have a valid unique email address.
- Please type in the email address and confirm the email address. Then click the “Check Email” button.
- The system will check that the email address provided is not being used.
- Fill out all of the required information on the form accurately and in in its entirety. You will need to enter a Unique Username that is not being used and Password. Confirm the password. Check your desired account options and click the “Create New Account” button. A welcome screen will show that your account has been created.
- Please maintain your Username and Password in a safe place. You will need this to log in later.
- Click the “OK” button. This will take you to the credit card screen.
- Click the “Add/Edit Payment Options” Button. A box will ask if you want to leave the page. This takes you into the secure area in your account to record your Credit Card information. Click the “Leave Page” button.
- This will open up your Payments Methods under your account. Please enter the required information. And click the “Save Payment Information Button”.
- A box will appear showing that the payment method has been saved. Click “OK”
- Click the “Return to Registration Button”. At this point you will be registering for this specific Auction. Under the Payment Method Verification click the circle for the card you just entered. At this point, you can also send a message to the clerks: for example, let them know your Farm Tax ID# to avoid tax, etc. View the Terms and Conditions. Check the box that says “By checking here you acknowledge that you have read and accept the terms and conditions.”
- Click “Submit Registration” Button. A box will appear that says that you have been successfully registered. Click “OK”.
You now will be in the bidding area of the website. Happy Bidding!
We highly recommend that you DO NOT wait until the last minute to register to bid. While you may wait to place your bid at a later time, by registering in advance, you can feel rest assured that you understand the bidding tools.
It is important that you familiarize yourself with all the terms and conditions BEFORE BIDDING. The terms of sale are non-negotiable.
Why do you need my credit card information?
Just like with a live auction, we must verify that you have funds available to make a purchase. Your credit card information is kept secure; we do not share this information. We will run an authorization charge of $1.00. Once the credit card company has approved this authorization, the $1.00 is refunded back to your card and you will be granted permission to begin bidding. In the event that you are a winning bidder, we will charge purchased items on the credit card on file.
Do I have to pay any fees to participate in an Online Auction?
No, you are not charged any fees to participate. However, to register to bid, you will have to provide credit card information so we can run the listed authorization amount of $1.00.
Do I need to register for each Online Auction?
Yes. Once you have registered with us your account will remain active, however, each auction’s terms may vary so you will need to register for each auction you are interested in and accept the terms and conditions for that particular auction.
How do I know if I am winning a lot?
When viewing the online auction, you will see your name at the top of the form. Hover over your name and a drop down menu will appear. Click on the current bids and you can see the status of your current bids. Or, if you’ve downloaded the app, you’ll simply look for green (meaning you’re winning) or red (meaning you’ve been outbid).
What if I get outbid just before the lot closes?
Most of our online only auctions are set to “soft close.” This means that if someone bids in the last 2 minutes before the items closes the bidding will be extended by 2 minutes so you will be have additional time to place another competing bid. This mimics a live auction setting. Note: You have to be viewing the auction item as it is closing to notice this.
“Your Bid” vs. “Your Maximum Bid”
By placing your maximum bid, the system will automatically place bid increments for you, in pre-determined amounts as explained in the auction terms. This will increase your bid if your original bid is out bid by another bidder. This speeds up the auction process, and assists you with your bidding. If another bidder bids higher than your maximum bid, the system will stop increasing your bids, and you will have to increase your maximum bid amount in order to continue competitive bidding.
Can I cancel an unwanted bid?
No, bids cannot be cancelled once they have been placed. By placing a bid you are entering into a binding contract. There are no refunds or bid cancellations. The registered bidder is personally responsible, legally and financially, for all auction items bid upon, whether representing one’s self or acting as an agent. An online bid accepted at public auction is a legal and binding contract to purchase. Any bidder who fails to consummate a purchase will be banned from bidding at all future seller auction events and may be pursued for civil and/or criminal violations.
How do I know if I won a lot after it has closed?
You will most likely see a notification ‘may have won’. This is because the software has to process all bids before confirming ‘sold’. Once all items have closed and the on-line auction has ended, you will receive an email from Smith & Company Auction & Realty, Inc. that will confirm items won and a paid receipt. Note: The email is typically received 1-2 hours following the close of the auction but depending on the size of the auction, it may be 4-5 hours or even the following day.
What if I cannot bid online?
Please contact our office at 580-254-3975 and ask for Aspen. She will be happy to assist you through the bidding process.
Can I inspect the Real Estate/Personal Property prior to bidding?
Yes! We offer preview days for all of our personal property auctions. If you wish to preview Real Estate, Ira Smith is happy to assist you and can be reached at 580-334-6001.
What is the Buyer’s Premium?
A buyer’s premium is a percentage paid by the buyer to the auction company on top of the winning price. While some auction companies charge upwards of 15%, at Smith & Company we try not to gouge you for purchasing at our auctions. Our buyer’s premium is 3% for personal property. We never charge a buyer’s premium for real estate!
