Terms and Conditions
Auctions are Fun!   ~   Let Sachs 5th Real Estate & Auction Show You How   ~  Auctions 101

Auctions 101

Welcome to Auctions 101

Auctions have been around since about 500 B.C. First recorded in Babylonia as wedding auctions, they didn't really take off till the Roman times. The Romans were the first to use the components of the auctions we have today.Caesar Players such as the consignor, buyer, and auctioneer (promoter, advertiser) were first used in Rome. The "Spoils of War" were auctioned off as well as personal property. The Latin word for auction is cactus, meaning to increase.

Auctions continued to evolve through the centuries. In fact, Sotheby's was established in 1744 and Christie's was founded in 1766. Sachs 5th Auction isn't quite as old. It was founded in 1998 by Lorraine Sachs Garcia and Anthony Garcia. End of history lesson.

Auctions are not only a venue to buy and sell, they can be wonderful entertainment. Our talented auctioneers, for our live auctions, keep the pace going. Our Online Only auctions are pretty exciting as well! We stagger the ending time for the lots, a minute apart. It's fun to watch when two or more buyers are vying for the same item. The time extends if a bid is made within the last minute. Sniping* is not allowed here. Sniping used to be fun, but with some people having faster Internet and faster computers, it is no longer fair. For our local buyers we have a pickup time the day after the online auction closes. Shipping is available for our out-of-town buyers, unless otherwise noted.

Of course, Auctioning is a serious business. We are obligated to obtain the highest price possible for our consignors. We are also obligated to our buyers to represent the items as accurately as possible.


Buyers

New to Auctions?

We are very proud of our auction house. Although fast paced, we don't go so fast that someone new to auctions can't follow. If you scratch your nose or wave at a friend and we take that as a bid, we will back out that "bid" upon your request (Live On-Site auctions). Just jump up and down, immediately, and let us know you didn't mean it! We do not back out bids made online unless there are extenuating circumstances. Contact Proxibid directly if this is the case. Auctions are fun, and you can find items you can't find anywhere else, sometimes at a bargain!

Seriously, It is a good idea to know something about auctions, how they work, and about the merchandise you are bidding on. Take a bit of time to read the Terms & Conditions. If you have any questions, contact us! We love to introduce new people to our auctions, and let them know how fun and easy it is. We post the lots in our catalog with photographs on Proxibid at least a week before the auction. We describe the lot as accurately as possible and include at least one photo. This being said, we may not scrutinize lower priced items as much as the higher priced items. For example, a large lot of old mismatched china dishes may have a few chips or cracks. This is not a high ticket lot. For us to examine and note every defect is, well ... insane. It costs us a lot to put up each lot. We are a business and need to make a profit to survive. However, for example, if it is a fine piece, we will endeavor to describe it in full detail to the best of our ability.

Hint: When looking at our catalog on the Internet, click on the photo to see if there are additional photos to view. Whether you intend to bid on-site or online, looking at the photo(s) and description gives you an opportunity to do some research on your own about the item. We also post some preview photos on our Catalog Page as items are inventoried.

The first thing you need to do to bid, is to register. On-site you fill out a form with your name, address, and phone number, plus an email address if you have one. You are then issued a bidder's card (also known as a bidder's paddle) with your bidder's number. For online auctions, you need to register with Proxibid. We ask for a credit card number for our online bidders. We ask that you register a least the day before the auction. If there are any problems, this gives you time to resolve any issues. We don't want you to miss a chance to bid. Proxibid has outstanding customer service. They are available online and by phone. They will walk you through the registration process if need be. Please note that we, Sachs 5th, do not have access to your credit card number. To charge you for your winning bid, we have to go to a third, secure, party to charge you for your purchase. How cool is that!

Bidding Online

Want to bid online? You do not have to register to watch an auction. You may find it useful to watch a few auctions on Proxibid before you actually register and bid. Naturally, we want you to register and bid at our auction! However, we don't want you to miss bidding at our auction because it appears to be foreign territory. Proxibid has a great Help Page that answers many questions you may have.

We do listen to the issues of those of you who bid online. A hint from one of our online bidders is that if you really want an item, pre-bid at the opening bid. This gets you in immediately, so evidently the "delay" factor is gone. She said this really worked well for her.

We try to be as fair as possible to both our on-site and online bidders. So if you have any issues, please email us, both negative and positive. We would like more "tips" for others that are online bidders!

Maximum & Absentee Bids

For Online Auctions you can place a maximum bid, online, which works as a proxy bid. It will only go up to the next increment if someone bids against you. Sachs 5th Real Estate and Auction does not have access to the amount of your maximum bid. Go for it!

Absentee bids may be accepted for live auctions only. If you can't make it to the auction, or have to leave early, you can place an Absentee Bid. Sachs 5th requires a bid of at least $50.00 per lot. The bid you make will be the maximum you are willing to bid. We will start the bidding at 2 increments below the bid over $50.00. $50.00 bids will start at $50.00. We require a credit card number to accept an absentee bid. Absentee bids cannot be withdrawn after the start of the auction. Absentee bids accepted during the auction cannot be withdrawn. Absentee bids are subject to all of the Terms and Conditions as the on-site & online bids. You cannot do an absentee bid on our online auctions. However, you can place a "Maximum Bid." See above.

Description of Condition of Items

Any Condition statement is given as a courtesy to a client, it is only an opinion & should not be treated as a statement of fact. Sachs 5th shall have no responsibility for any error or omission. Furthermore, the absence of a condition statement does not imply that the lot is in perfect condition or completely free from wear & tear, imperfections, or the effects of aging.


Sellers

We offer personal property auctions with a Real Estate listing. Our auctions are Live, Online or in some cases On-site and Online in Real Time. Our presence Online greatly expands the buyer base, exposing your consignments to buyers from all over the world. Visit our page at www.proxibid.com/sachs to view some of our past auctions.

It is in our best interest to attract as wide a buyer base as possible, and get the most money. Your consignor's fee covers basic advertising, both in print & online. We advertise in several print publications, as well as in several prominent online directories, which some get approximately 100,000 views. However, we will charge the consignor for any special advertising, appraisals, and other fees. Please contact us for clarification concerning special fees. Sachs 5th Real Estate & Auction also sends email to prospective buyers before each auction. We also place flyers in Valencia County businesses.

Your consignor's fee also includes the preparation of the catalog. Photos and a description are included with each lot. We attempt to do research on unique items. However, time constraints may not make it possible to research an item as thoroughly as we would like. Provenance is important for the description of a valuable item. It is important to attach a note and/or appraisal to the item so we may describe it better.

Great Expectations

We all have our family heirlooms & treasures. The emotional value to a seller may not be what the market price will bring. Keep this in mind when you put such items up for auction. Your Grandpa's chair is not anybody else's Grandpa's chair! Do some research on your own, if you feel an item is of particular value, let us know. Is it antique (over 100 years old) or vintage? And many items from the 30's 40's 50's and even the 60's & 70's may have value. It just depends on what the item is. We are an auction house, we don't make the values, we just try to get the highest price we can. Again, that is in our best interest! However, an item may not get the money you expected. If that is an issue with you, you have the option to place a reserve on any item, before the auction. And please, do not bid on your own consignments. This, even if innocent, is considered "shilling' or "bid rigging" and is highly illegal. The auctioneer will stop the bidding immediately, if this is detected, which it will be.

Another issue is collectibles. Through savvy advertising, many "collectibles" have been sold to individuals with the promise of their increasing in value. Most were, and are, mass produced. A good example is the "collector plates." Although very lovely, most have little value in the resale market. It's a great marketing ploy to entice someone to buy something as as "investment." That means, we can not get very much for them at auction. The re-sale value is just not there.

Math Lesson: - C<V maybe even C<0 - The word "Collectible" is not a synonym for "Valuable". Everything these days is "collectible." We all have our favorite "collectibles." We may love them, but if someone else is not willing to pay a price for them... they are what they are.

Tupperware & the Land of Oz - There are some items that are just not suitable for auction. These include, but are not limited to: Tupperware, we get a ton of it. Unless it belonged to the Tin Man or Dorothy, and you can prove it, it just doesn't have the value appropriate for auction. Other items include: Clothing, shoes, & accessories: even new with tags. Exceptions would be antique or vintage clothing (in acceptable condition), or anything extraordinary. Furniture: that is in a questionable condition. Even some antique or vintage furniture with major condition issues can have little or no value. Other unsuitable items may include: mattresses (unless new or in like new condition) knick knacks, inexpensive prints, bad art your great aunt did, analog televisions, walkers, wheelchairs, linens, small appliances, dinnerware, kitchen stuff, computers & printers, suitcases, & anything that smells really bad... the list goes on. There are exceptions, so if you are not sure, let us look at it. But, it is our prerogative to determine what is suitable for auction, or not. We may combine a number of these type of items in a large box called a "Box Lot" and auction it as one lot. That being said, we promise to give special attention to Dorothy's dog, Toto.

Many of these items are best suited for donation to a worthy charity. You may well get a tax deduction. Please, if you can, do not bring these items to us. Also, some items need a permanent visit to the dump. We will dispose of items in the best interest of you and Sachs 5th. If we accept an entire estate with the real estate listing, we understand we may have to deal with such items. We understand that it is hard for you to dispose of items that belonged to your loved one. (We get such items such as a half of a bottle of lotion, shampoo, very worn everything, etc.) If there are items that require disposal, we may charge you a "disposal fee."

Ivory and Other Items that are Not Allowed - Due to government restrictions, we will not accept any item made Elephantwith any type of ivory. This includes items made with ivory parts such as a cabinet with ivory handles, canes, chess pieces, figurines, jewelry, and scrimshaw. This includes that old upright piano with ivory keys. We cannot auction items made from bone from animals that produce ivory, including elephants, walruses, and whales. If an item has ivory, of any type, we will not accept it. It is very sad that the greed of some, and the poverty of others who poach to survive, has made it necessary for the international community to make such regulations. However, these regulations are crucial, and we at Sachs 5th support them.

Inventory of Items - Sachs 5th Real Estate and Auction does not itemize each and every single item sold at either the Live Auction or the Online Auction, or those items disposed of as described above, (items we deem unsuitable for auction). Same type items will be categorized together. For example: Miscellaneous Small Appliances; Miscellaneous Kitchenware; Miscellaneous Glassware; Miscellaneous Linens; and so forth. That being said, we do look at each and every item, sorting them into appropriate categories and weeding out those items that may be valuable or suitable for auction. A case in point: 31 pieces of sterling silver flatware was "weeded out" from three boxes we received of miscellaneous kitchen & other items. These were big boxes! This silver was mixed in with all kinds of stuff, mostly just old used kitchen stuff. Probably stuff like you have in a drawer or two & in the dark depths of your kitchen. Think about it! It is doubtful the heirs of the estate even knew it was there. This silver was sorted out and sold for their silver value. Umm?

Condition-Condition-Condition - A crack, a chip, paint loss, a moth hole, fraying, any of these, and other condition issues, can make a drastic reduction in the value of an item. It can take a $400.00 piece down to $0. Believe it or not, this happens all of the time.

When we accept items for auction, we reserve the right to determine which items are suitable for auction. Those that are not will be disposed of to the auction house's discretion. The Consignor's Contract describes this in more detail. Contact us and we will send you a copy of the contract. Again, it is in our best interest to get the most money we can for your items.

That being said, you may have that old tin sign from your great uncle's dairy. Let's take a look. May be worth something. If you have his old weather vane, we will really talk! .

Reserves

If you want to put on a reserve on an item(s) - We charge extra. - Please contact Lorraine, 505.864.8081 - LorraineSachsGarcia@gmail.com.


* Auction sniping is the practice, in a timed online auction, of placing a higher bid than the current highest public bid at the last possible moment (often seconds before the end of the auction), giving the other bidders no time to outbid the sniper.


Glossary

Click Here
to view a glossary of common auction terms. It requires Adobe Reader which is a free download from the Adobe site.




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