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Personal Property Auction Contract Agreement for the Sale of Personal and Chattel Property Agreement made this day of .
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Auctioneers FAQ
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You should be able to turn up at an auction, register and start bidding, as long as the auction isn't closed off to trade only. That said, it's worth visiting a few auctions first without buying anything. This will allow you to get accustomed to the process of bidding at an auction and the way buyers behave.
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7 Things You Should Never Do at Auction Don't talk to your partner. ... Don't phone a friend. ... Don't let your body language give you away. ... Don't bring the whole family along. ... Don't dress up to the nines. ... Don't be rude to the auctioneer. ... Don't make silly bids.
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If you decide to submit your items to auction (known as consigning), the auction house will guide you through the process. It will ask you to sign a consignment agreement which details the auction house's terms and conditions – always read it carefully and ask about which charges will apply to your items.
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Rules of Auction Sales Are Bidding Increments: In most auctions, there are predetermined bidding increments that determine how much a can increase her/his bid amount. Auction Closing Time: The Auction Sale must have a definite ending time so that all interested buyers are aware of when the bidding process will end.
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Before you can move in, there are some things you need to do. Remember, it's always recommended to seek legal advice when purchasing a property. There's no cooling-off period when you buy at auction, so you can't change your mind after you put in the winning bid.
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