Auctions
Whether you have just a few items to sell or an entire warehouse full, please contact us for a free consultation. Wayne Bancroft Auction Service is experienced in conducting a wide array of auction events, including: Antiques & Collectibles, Household & Estate, Business Liquidation, Farm & Livestock, Heavy Equipment & Industrial, and Charity Fundraising. We also hold our 3 annual Consignment Auctions the 3rd Saturday in April, July and October.
In addition to developing an effective advertising campaign to market your merchandise, we help plan every detail of your auction event. Pack-out & Transportation services are also available.
In addition to developing an effective advertising campaign to market your merchandise, we help plan every detail of your auction event. Pack-out & Transportation services are also available.
What is an auction?
An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder. By being open to the public, an auction ensures a wide range of bids, and sometimes items at auction can fetch surprisingly high prices. The bidders, in turn, create their own market, determining on an individual basis how much they want to pay for an item, rather than having prices dictated by the seller.
In a basic auction, an item is introduced to the crowd and members of the public bid on it, slowly raising the price until everyone bows out, leaving a winner of the auction who pays the price he or she bid. The auction is managed by an auctioneer, someone who keeps an eye on the bidding and determines the ultimate winner. A bid is considered legally binding. By bidding, a participant agrees to pay the amount which he or she bids.