Whether you are selling a single item or the contents of a home or business, we are fully prepared, equipped and staffed to professionally market and sell for you. If you are looking to buy a single piece or furnish a home, we can help you meet your goal.
We conduct auctions at our auction facility or on-site at your location. We'll provide a free evaluation based on your needs.
HOW TO SELL PERSONAL PROPERTY AT AUCTION
Why should I consider selling at auction instead of pricing my items?
Auctions are fast, efficient and produce fair market value. When an item is "priced" it is either under priced or overpriced. Either way, you lose. If the price is too low it sells to the first bargain hunter who finds it. He then sells it for the profit that should have been yours. If the price is too high the item does not sell. It then has to be advertised again at a lower price or negotiated through negative haggling with one person at a time. Extensive marketing of the auction creates a sense of urgency. All serious people are brought together to compete. You are assured of fair market value. You determine what day everything will be sold and removed. It is time-honored process that is hassle free. Bonnette Auction Company handles all the details of your consignment.
What does consignment mean?
To "consign" literally means to "deliver" or "entrust". By "consigning" your property to Bonnette Auction Company, you are simply setting the stage for that property to be sold at auction on your behalf.
How do I know if what I have is worthy of consignment?
Simply call or email details to our office of what you have. A determination will be made with you during this free consultation as to whether the items are "saleable" in today's market. Further, an appointment can be made for the items to be dropped off by you at the Bonnette Auction Gallery, picked up by us, or have one of our staff visit your site to do a physical inspection of the items to determine marketability.
Is there a charge for someone to come to my home or business?
No, as long as the intent is to consider the items for consignment. If you were looking for a verbal or formal appraisal there would be a fee.
If I consign items to you to sell at the Bonnette Auction Gallery who pays for Advertising & Mailings?
We do. Bonnette Auction Company conducts approximately 10 Antique & Estate auctions in the BONNETTE AUCTION CENTER a year. Each of these auctions is a major event offering approximately 1,000+ lots each from an average of 25 different consignors an auction. This diverse and extensive offering is heavily advertised in print media as well as mailed to our database of proven buyers via illustrated brochures at our expense.
Where would my items be advertised that are sold at the Bonnette Auction Gallery?
Bonnette Auction prepares all brochures and mailers as well as advertisement and signs to adequately project to prospective buyers the nature and extent of the properties to be auctioned. The amount of advertising and promotion, including but not limited to the amount and nature of items to be auctioned, will have an influence on the number and coverage of the mail campaign as well as the amount of newspaper advertising. Our program is directly geared to the market. Our mailing list is composed of thousands of potential customers and depending on a particular auction the appropriate number of mailers may vary from several hundred (700-800) to several thousand (1200 - 3500+). We have potential customers of surplus equipment from many states. In addition, we post necessary signage on the premises to properly inform and instruct the attendees of the rules of the auction and any other pertinent information. All auctions are listed on our Auction Calendar.
How will you sell my items, all at once or individually, groups?
Once we get the items to our AUCTION GALLERY they are sorted into "lots" based on commodity and value. Some items will be sold individually, others in pairs or sets, tray lots or in the case of lesser-valued household items - box lots. Our staff has the experience and expertise to sort the items into desirable lots so that there will be interest in all lots; everything sells.
What is a lot?
A lot is either a single object or a group of objects offered for sale as a unit.
Do you do cleaning and repairing of items in lots? If so, who pays for it?
Yes we do, and we absorb the costs. We pride ourselves in preparing the contents of homes and businesses for auction. We do minor repairs on furniture, frames, etc. We clean glassware, dust all furniture before there is public inspection at the Auction Preview. All of this is done at no charge to you.
Will my consignments be secured and displayed properly?
Absolutely, and at no additional charge! The Bonnette Auction Gallery is fully protected by a Burglar/Fire alarm system monitored by Modern Security. Our staff puts hangers on pictures and displays them on moveable pegboard units. Room size rugs are displayed on the floor with room settings of furniture. China sets are displayed on dining tables. Clocks are setup with weights and pendulums and are set to run. In short, everything is presented in it's best light.
Is there an opportunity for people to view my items before the auction?
Absolutely. In addition to the website, the full-page ads and the direct mail brochure we also have Exhibition Time - "Preview". Preview for Saturday auctions at the Bonnette Auction Gallery are held on Friday from 10:00 AM until 5:00 PM. During preview people can view all items of interest with the assistance of our competent staff. During preview our staff answers questions from those in attendance, phone inquiries, emails and fax questions. People are encouraged to inspect all items of interest, as all sales are final.
How will I know which auction my consignments will be in?
Bonnette Auction Company will notify you with an advanced brochure mailing letting you know the date of your auction. In addition, we will mail to anyone else that you would like us to notify about the auction. Perhaps relatives want to know when the auction is, or there was someone that made an offer on the vehicle prior to consigning it to the auction. We will do these additional mailings at no charge.
What about trucking items from my home or business to the Bonnette Auction Gallery?
We can provide it at a competitive fee. We own our own trucks and equipment. Our team of experienced merchandise handlers are prepared to come to your home and pack up the entire contents of salable items and bring them back to the Gallery. We'll even provide the boxes and wrapping pads. We provide a consignment code for inventory control.
So how does Bonnette Auction Company get compensated for services?
We work on a competitive commission basis. We strive to get the most money we can for your items. Therefore, our service don't cost - they pay.
What is a Buyers Premium?
A Buyers Premium is that portion of the commission paid by the buyer. The Buyers Premium is added to the bid to become part of the total sale price. BONNETTE AUCTION CO., L.L.C. charges a 10% Buyer Premium at the Bonnette Auction Gallery and most on-site auctions.
Is there an agreement to sign if I decide to consign?
Yes, we will furnish you with a copy of our standard consignment agreement upon request.
What is a reserve?
A reserve is a confidential minimum sale price for an object set by the seller. Typically auction companies that work with reserves charge a "buyback" fee to the seller if the item does not sell. The buyback fee is usually a percentage of the high bid received at the auction even though the item did not sell.
Should I have reserves on my items?
Generally speaking, no. At the BONNETTE AUCTION CO., L.L.C. we believe that when it is time for you to sell an item, you should sell it. We believe that well advertised items will fetch what they are truly worth in today's market. Why try to out smart the market just to pay a penalty to get back your own item if you guessed wrong. If your item did not attain your reserve what will you do with it now? Re-market, advertise again? History has shown that items rarely bring as much the second time as they did the first. We get serious buyers that travel great distances to the Bonnette Auction Gallery. They know that they can buy the items advertised if they are the successful bidder. Reserves put a "chill" on the auction. "Unreserved Auctions" bring serious buyers and fair market value.
So where does the bidding start?
Anywhere the auction audience wants to start it. An auctioneer might ask for $100. to start. If no bid he will drop the asking increment until someone starts. The item might start at $25 and soar to $400 or end at $50. based on market value.
What is market value?
Fair market value is the price for which an item will sell on the open market between a willing buyer and a willing seller neither being under compulsion to buy or sell as of a specific date. Generally, it is the price that an item will fetch at a well-advertised auction. Factors that come into consideration are age, condition, quality and rarity. Auctions are the last niche of the free enterprise system where the laws of supply and demand prevail.
What if I just want to sell my items to you? Do you purchase outright?
Yes we do. However, Bonnette Auction Company feels very strongly that consignment is usually your better choice. We have built our reputation on honesty and integrity. We believe that our auction consignment service will produce the best return for you. Although we have the means to purchase any size estate, we think it is in your best interest to consign and allow the market to determine the sale prices for you. If we purchase on our own account we must look to make a profit from the money that we invest just like any other "dealer". Last year we were forced to purchase two major estates where we competed with major auction houses. We paid the most and still made far more then our commission would have been. CAUTION: Think twice about selling in "bulk" for the quick buck. Let us do the job right for you.
Would it be better to conduct the auction "on-site" at my home or business?
It depends on quantity and quality of merchandise, the location and the site. We will do a free site analysis for you. We used to conduct many on-site estate auctions. We still are fully equipped with tents, folding chairs, tables, portable sound & clerking systems, etc. Most sellers do not have enough merchandise to warrant their own auction. Often parking is a problem on the site. Weather is an issue. Display space is a challenge. Our AUCTION GALLERY has multiple phone lines, electronic credit card processing, computers, backup generator, seating indoors, plenty parking space, restrooms, food service and more. Generally, commercial establishments such as restaurants, car dealerships, hardware stores, etc. are better done on-site. However, residential contents, estates and vehicles sell better at the Bonnette Auction Gallery where it is comfortable.
How does it work if I want Bonnette Auction Company to auction my items at my home or business?
We still work on a commission basis and provide free analysis and estimates.
What happens after Bonnette Auction Company sells my items?
You will receive a complete, itemized computerized printout of all your items with lot numbers, descriptions, individual prices and total along with a check from Bonnette Auction Company In addition, we send you copies of advertising, brochure and any news stories generated on the auction.
I have never attended an auction before. Can I come to the auction just to watch?
Absolutely, we encourage anyone to attend and watch the bidding. You will be entertained and amazed at the process. Best of all, it's free. Attend a Preview at the Bonnette Auction Gallery and then watch an auction for a while. You might want to read How to Buy Personal Property at Auction. You should subscribe to our email list to get listings of upcoming auctions. Obtain a catalog listing all items in the auction with the corresponding lot numbers. Check out our facility, try the food of local caterers. In short, have a good time.
