What is a buyer's premium?
A buyer's premium is a stated percentage added to the winning bid to determine the total price paid by the buyer. Our premiums are fully disclosed within the bidder contract and hover at or below the industry standard. The buyer's premium is charged after sales tax is applied.

EXAMPLE: If an item sells for $100.00 and the announced buyer’s premium is 12%, the total cost of the item will be $112.00 plus all applicable taxes.

How do I register for auctions?
LIVE
: Registration is a process of identifying yourself as a potential buyer. Bidders participating in a Live Auction event will be directed to the registration desk to complete the registration form, sign the standard Terms & Conditions for the auction, and receive a bid number which will identify you and secure your purchases.

ONLINE: To bid online, first visit the SAM Auctions websiteVisit the page of the auction you are interested in, view the full catalog by clicking the button, and sign up for the sale via Proxibid (a third party service used to conduct our online sales). Your Proxibid account can be used for all Online SAM Auctions sales.

Why do you require a credit card to register and bid for ONLINE Auctions?
We want to ensure that all bidders are valid, qualified, and have met the same conditions to be able to participate in our ONLINE auctions. 

What if I change my mind after bidding?
It is best to be sure you would like to purchase an item before placing a bid. By participating in the day-before preview and coming early to the auction, you can examine all available equipment and get your questions answered by our knowledgeable experts. If you are unsure about an item, it is best not to bid.

How does the Auto-Extend feature on an ONLINE auction work?
If an item receives a bid in the last two minutes, the ending time for that auction will automatically be extended by three minutes. Once three minutes have passed without any bidding, the item will close. This applies solely to Online Only auctions; sales with a live component will not have the auto-extend feature.

How will I know if I am the high bidder for an ONLINE Auction?
The highest bidder will receive an email after the auction closes. 

How long do I have to pay for my items?
LIVE:
 All items must be paid for in full on the sale day.
ONLINE: All items must be paid in full within 24 hours of winning the item.

How long do I have to remove items that I have purchased?
Removal timeframes will vary, but are generally three business days after the close of the auction. A removal schedule will be announced and posted on sale day. Removal deadlines are concrete and non-negotiable, and bidders should keep them in mind before their purchases finalize. If bidders are unable to gather their items in the time allotted, the items will be considered abandoned and will be disposed of.

How do I pay my bill?
We accept cash, PayPal (online only), cashier’s checks, Visa, Master Card, Discover, and American Express.

Do I pay sales tax?
Buyers are responsible for all applicable state, county, and city sales taxes at our auctions. If items are purchased for RESALE, please bring, fax, or email a copy of your Resale Certificate to the sale.

Shipping?
We do not provide shipping, however we will prepare items for shipping and load trucks for a fee. While it is the buyer's responsibility to arrange shipping, we are happy to provide resources to help facilitate the process.

How do I sign up for auction notifications?
You can sign up simply by entering your information into the fields under the “Subscribe to Newsletter” heading at the bottom of each page.

Can I buy equipment before the auction?
Once a piece is listed as ‘for sale at auction’ we are unable to pre-sell the item. If you are looking to purchase equipment outright, we have a large inventory database and multiple showrooms across North America to meet your needs.

Can I preview items before I bid?
Yes.
 Each auction listing will have information regarding where the items are located and a scheduled preview time. 

Can I leave an Absentee Bid at your LIVE auction?
YES.
 We accept all absentee bids at our live auctions. Please contact us for more information. 

Can you help me sell my equipment?
We are a full service company that will make every effort to help you sell your equipment. Our experts will consult with you to assess the value of the assets and determine which of our three methods will convert your asset into cash promptly and with greatest success. 

Have additional questions?
Our industry experts are here to help. Contact us via email at info@surplusassetmanagement.com or call 877.726.2828 for more information.