Frequently Asked Questions

1. What is a Buyers Premium?

2. How do I register to bid online?

3. Why is there Tax at some sales?

4. Do I have to make a deposit?

5. Why do I have to make a deposit?

6. Are deposits refundable?

7. What are removal dates?

8. Can Hoff-Hilk ship items?

9. How do I pay for my online purchases?

10. What is the “Max Bid” Feature for online auctions?

11. Who can I call to rig my items?

12. What is the difference between an auction and liquidation?

13. Can I buy items before an auction?

14. How do I place a proxy bid?

What is a Buyers Premium?

A Buyers Premium is an additional charge, usually 10-13%, which is added to the final selling price of an item.  This is how most auctioneers get paid.  For example, if a lot sold for $10.00 and there was a 10% Buyers Premium, there would be an additional $1.00 charged for a total of $11.00.  
 

How do I register to bid online?

It takes about 2 minutes and requires an email address.  Simply click here and fill out the form.  It’s fast and easy. 
 

Why is there Tax at some sales?

The tax laws governing auctions are complex.  Hoff-Hilk investigates each sale beforehand to determine if sales taxes must be collected.  Here are several situations in which you do not have to pay tax.  If you have a resale certificate on record from the state where the auction is held or you are purchasing an item for use in another state you generally do not have to pay tax.  All tax exemption certificates must be on record with Hoff-Hilk before the end of the auction.  You can fax a resale certificate to 612.521.5500.  You can download a blank MN Resale Certificate.

 
Do I have to make a deposit?

It depends on the sale.  Some auctions we require a deposit to be eligible to bid.  If a deposit is required it will be advertised.  Generally we ask for a $100 deposit or at least 25% or your expected total. 
 

Why do I have to make a deposit?

Deposits are required for a variety of reasons.  Sometimes a seller will request the buyer makes a deposit.  Other times, a deposit will be used to prevent dishonest bidders from bidding protecting our buying clients.  
 

Are deposits refundable?

YES, Deposits are completely refundable.
 

What are removal dates?

Removal dates are the days that a Hoff-Hilk Auction representative will be at the auction site to facilitate the removal of auctioned item and collect payments.  ALL ITEMS MUST BE PAID FOR BEFORE THEY CAN BE REMOVED.  It is important that all items are removed during the designated removal dates unless advanced plans have been made.  We understand in the regular coarse of business not everyone can have their items removed within the allotted removal time.  If this happens we ask that you give a Hoff-Hilk representative as much notice as possible. 
 

Can Hoff-Hilk ship items?

Yes, for small non-fragile items Hoff-Hilk can package and ship items.  If an item is fragile we can deliver the item to a local packaging company for proper packing.  For large items we are happy to act as your agent and ensure a crating company does an adequate job crating your purchases.  Generally, there is a charge for all shipping activities.

How do I pay for my online purchases?

Unless otherwise specified auction items can be paid for anytime during the designated removal dates.  You may also mail your payments to our office please do not send cash, and remember nothing can be removed until payment is received.

How do online auctions work?

Online auctions work just like live auctions only the bidding is done from your computer.  You simply register and place bids on items you wish to purchase.  There is a lot of activity near the end of an online auction so we added a “max bid” feature that allows you have a maximum bid without raising the current bid.

What is the “Max Bid” Feature for online auctions?

The “Max Bid” feature allows a bidder to ender a maximum amount they are willing to pay for an item without disclosing that amount to other potential bidders. 

Example: if the next required bid for an item is $50, but you are willing to pay up to $350, you enter $50 as the “next required bid” and $350 for the max bid.  So long as nobody else bids more than $350 you will win that item, if no one else bids than you will only pay $50.   There is a flurry of activity as online actions draw to a close, by using the max bid feature you will not lose out at the last minute

Who can I call to rig my items?

Please call our office for a list of certified riggers.

Who can I call to ship my items?

Please call our office for a list of shippers.

What is the difference between an auction and liquidation?

In an auction the buyers determine the price by actively bidding until there is only one person left.  In a liquidation, the prices are preset.  Liquidation items can generally be immediately purchased. 

Can I buy items before an auction?

No.  The seller has decided that the best way to determine a fair selling price is to hold a public auction.  If you are unable to bid at a sale we accept proxy bids or will offer you the ability to bid by phone.    
 

How do I pay?

Currently Hoff-Hilk Accepts Cash, Checks, Money Orders, Cashiers Check and Wire Transfers.  When paying with a personal or company check Hoff-Hilk may request a Bank Letter of Guarantee.  All items MUST be paid for within the scheduled checkout period.  Financing may be available to those who qualify.  To view a list of companies offering financing for Hoff-Hilk auctions please contact us..  
 

How do I place a proxy bid?

Online Auctions:  Use the “Max Bid” feature. 

Live Sales: Hoff-Hilk Auction Services will accept Proxy Bids before 4:00pm (cst) the day before the sale.  They can be faxed to our office (763) 732-0900 or emailed to proxybid@hoffhilk.com .  A Hoff-Hilk Representative will call you to confirm this bid before it is accepted. A DEPOSIT MAY BE REQUIRED.