Q. How does the auction work? A. Please see "7 Steps of Buying A Vehicle" for a step by step description on how easy purchasing a vehicle at auction can be.
Q. What type of vehicles do you have? A. Since we are a consignment auction, our inventory selection varies from week to week. We typically run a variety of cars, trucks, RV's, 4-wheelers and boats. Buyers can purchase older or newer model vehicles of almost any make or model. The selection is wide as to appeal to all buyers.
Q. Can I bring a mechanic to inspect my vehicle choices? A. YES! We encourage you to thoroughly inspect the vehicles, as each is sold "AS IS, WHERE IS". If you do not have a mechanic available to inspect a vehicle you are interested in, the professional mechanics in BDA's Service Department are available to inspect any vehicle for a charge of $75.
Q. Where does the bidding start at OR is there a minimum bid? A. Most vehicles sold through the auction do have reserves. If a bank has a vehicle in for a certain amount, then we need to obtain that amount in order to sell it. The vehicle will simply pass through the auction if the amount is not obtained. Please keep in mind that all reserves are listed at or below wholesale price! We will not accept vehicles with a retail priced reserve.
Q. What does "AS IS, WHERE IS" mean? A. One of the most common statements made at auction, "AS IS, WHERE IS" simply means the property is being sold without warranty and that there are no contingencies based on the status of the asset being sold.
Q. What is a "buyer's premium"? A. A buyer's premium is commonly used in auctions as a form of payment for the auction company conducting the auction. The buyer's premium is a percentage of the high bid added on to the bid to determine the total contract price to be paid by the buyer.
Q. Who is the person yelling in the audience at an auction? A. The people you see and hear working among the crowd of bidders is known as the "ringman/ringmen". These individuals are part of the auction team and are an extension of the auctioneer. The job of the ringman is to convey bids back to the auctioneer from the crowd. When bids are received in the crowd the ringman will yell to signal the auctioneer that they have received a bid and to increase the bid amount. These individuals are also there to help answer questions you may have while the auction is being conducted.
Q. If I scratch my nose or wave at a friend, will the auctioneer think I"m bidding? A. We hear this misconception a lot! To bid at an auction or for your bid to be received by the auctioneer, you will need a bidder card. You will receive this card at registration and it will have a number on it. This number allows us to know who is bidding. If you mistakenly bid or the auctioneer misinterprets your movement as a bid, immediately notify either the auctioneer or a member of the auction staff.
