How to Buy & Sell
Whether you’re selling prized property or looking to buy one-of-a-kind treasures, an auction is just the place to make things happen! While some might view it as complicated and time consuming, a fast-paced auction is one of the most efficient ways of converting your property or assets into immediate cash. In fact, over a quarter-trillion dollars in goods and services are sold at auction every year in the U.S. With the combination of pre-sale marketing and the auctioneer’s chant and/or an attention-grabbing online bidding platform, you could have enthusiastic, attentive buyers aggressively competing to purchase your property. There’s an excitement about an auction that makes it a special event that draws people again and again. People participate in auctions out of curiosity about what unique or interesting items are for sale. There’s even more curiosity among bidders when it comes to the prices obtained at auction. By talking to auction professionals, sellers and other buyers, auctions can be a great way to learn about real estate, art, autos, furniture and more, sellers and auction professionals. You learn about values, construction of items, collection practices and much more when you participate in an auction. An auctioneer’s role goes far beyond the speed of the chant. NAA Auction Professionals are entrepreneurs who excel in marketing and advertising. The primary role of an auction professional is to develop a marketing campaign to promote the sale of their client’s assets and attract bidders to their auction. Many auctioneers are also appraisers and experts in their field of sales at J. Sugarman Auction Corporation we specialize in the following categories provided below.
  • Antiques & Collectibles
  • Appraisals
  • Art & Galleries
  • Auto & Motorcycles
  • Bankruptcy
  • Benefit & Charity
  • Boats & Water Sports
  • Business Liquidations & Office Equipment 
  • Coins
  • Collector Cars & Vintage Equipment
  • Estate & Personal Property
  • Firearms
  • Heavy Equipment & Construction Machinery
  • Industrial & Manufacturing Equip.
  • Jewelry
  • Off-Road & Recreational Vehicles
  • Real Estate, Commercial/Industrial
  • Real Estate, Land
  • Real Estate, Residential
  • Restaurant, Food & Spirits
  • Trucks, Trailers & Transportation and much, much more.
Please give us a call so that one of our Executives can provide a consultation with you today.  We look forward to serving you at J. Sugarman Auction Corporation. Owner/President: Scott Grasso 9544643434
  1. Everyone must Register in order to Bid during the Auction.
  2. You must have a Driver’s License or Government Issued Id.
  3. $100 Deposit in Cash or Visa or MasterCard. The deposit is fully refundable at anytime if you do not purchase anything during the auction. If you purchase items the $100 will be put towards your purchase.
  4. The Bidder must maintain a 25% deposit during the auction, bidders will be asked for additional deposits throughout the auction.
  5. The Customers are advised to inspect the items before bidding on the items. The Auctioneer is not the owners of the items. The Auctioneer is providing the information to the best of their knowledge, there are no guarantees or warranties.
  6. Items are sold by the piece (Example: 20 forks at $.50 each the bidder is paying $10 for all the forks) Another term for this is “Times the Money.”
  7. If you are unsure what you are bidding on or the price please ask the auctioneer.
  8. Once you bid on an item and win the bid you the item is yours for the price bid on the floor.
  9. There is an 18% Buyer’s Premium on top of whatever you purchase. If you pay with cash, we offer a 3% cash discount (making the Buyer’s Premium 15% for cash).
  10. Sales Tax is added on top of the BP. If you are a re-seller of the purchased items you must provide your current year Resale Tax Certificate.
  11. All Items Must be Paid for the day of the Auction.
  12. Items Must be Picked Up usually within 24 hours of the auction ending, unless extra time has been alloted by the Auctioneer.
  13. For any discrepancies with items, it must be acknowledged at time of checkout. Once the items leave the auction site there is nothing the Auctioneer can do.
  14. If you are using a trucking company or a third party is picking up your items they are required to follow all the same pickup deadlines. They are also responsible for making sure you pickup all your items and the correct items.
  15. There are NO RETURNS or REFUNDS. Everything is Sold AS IS.
If you are considering an auction for your personal or business assets, consider the following tips:
  • Whether it be real estate, art or automobiles, select an NAA Auction Professional with expertise in your particular type of sale. NAA Auction Professionals are at the top of their field in the auction business. Members are professionals well versed in the psychology of selling. Their education, commitment to the NAA Code of Ethics, expertise and networking capabilities stimulate competition among bidders, securing you the highest prices for your assets.
  • Attend one of their auctions and learn about auctions firsthand.
  • Take an active role in the marketing and advertising of your assets.
  • Make sure to fully review all contracts, terms and conditions of the auction with a legal expert.
 
Please give us a call so that one of our Executives can provide a consultation with you today.  We look forward to serving you at J. Sugarman Auction Corporation.

Owner/President: Scott Grasso 954.464.3434
Understand the type of auction you are participating in (absolute, reserve, etc.) and make sure to review the complete terms and conditions of the sale. You will want to arrive early to register for the auction. Certain auctions (i.e. real estate) may require a cashier’s check or other payment in advance of the auction to qualify you to bid in the auction.

If you are attending an auction with a live element, you will want to bid in sync with the chant. You should be listening closely and following the increasing bids. Remember: The number the auctioneer is repeating is where the bid is and what the auctioneer is now accepting.  

Please give us a call so that one of our Executives can provide a consultation with you today.  We look forward to serving you at J. Sugarman Auction Corporation.

Owner/President: Scott Grasso 954.464.3434
We encourage people to explore auctions by attending one as a spectator. There is no better way to learn about auctions than to watch one firsthand.

  Please give us a call so that one of our Executives can provide a consultation with you today.  We look forward to serving you at J. Sugarman Auction Corporation.

Owner/President: Scott Grasso 954.464.3434
The person you see and hear working amongst the crowd of bidders is known as a ringman. This individual is part of the auction team and is 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 yelp 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.

  Please give us a call so that one of our Executives can provide a consultation with you today. We look forward to serving you at J. Sugarman Auction Corporation.

Owner/President: Scott Grasso 954.464.3434

The art of perfecting the auctioneer’s cry take years of practice, but understanding what auctioneers are saying is simple. The auctioneer’s bid call can be broken into two parts:

  • Statement (The Current Bid) – I have five dollars.
  • Question (The Next Bid) – Would you bid 10?


Example: I have 5 dollars, would you bid 10, would you bid 10? Now 10, I have 10 dollars, would you bid 15...

  The cadence and repetition of words and use of “filler words” vary from one auctioneer to another, but the format is usually the same. Always remember that the number the auctioneer keeps repeating is the dollar amount they are wanting.

  Please give us a call so that one of our Executives can provide a consultation with you today.  We look forward to serving you at J. Sugarman Auction Corporation.

Owner/President: Scott Grasso 954.464.3434
We hear this misconception a lot! In fact, to bid at an auction or for your bid to be received by the auctioneer, you typically need a bid paddle or bid card. You will receive this bid paddle or card at registration and it will have a number on it. This number allows the auction company to know who is bidding from the list of registered bidders. If you mistakenly bid or the auctioneer misinterprets your movement as a bid, immediately notify either the auctioneer or their staff.

  Please give us a call so that one of our Executives can provide a consultation with you today.  We look forward to serving you at J. Sugarman Auction Corporation.  

Owner/President: Scott Grasso 954.464.3434
It is important that prospective bidders read all documents regarding the sale prior to auction day. Cash payment is commonly not required at auctions. Auction companies may accept multiple forms of payment: cash, check or credit card. When attending real estate auctions, auction companies may at times require a specific down payment on-site in the form of a cashier’s check to qualify as a bidder.

  Please give us a call so that one of our Executives can provide a consultation with you today.  We look forward to serving you at J. Sugarman Auction Corporation.

    Owner/President: Scott Grasso 954.464.3434
This is a major misconception about auctions. The fact is auctions are the primary sales method when selling valuable assets such as vintage vehicles, multi-million dollar homes and priceless pieces of art. The competitive bidding of an auction and the bidding of prospective bidders sets the price and market value of an asset. The item will not sell for more than the highest bid and will not sell for less than the high bid. You, the consumer, and other bidders determine the market value of an item when you buy at auction.

  Please give us a call so that one of our Executives can provide a consultation with you today.  We look forward to serving you at J. Sugarman Auction Corporation.

  Owner/President: Scott Grasso 954.464.3434
Absolute Auction: An "absolute auction" is an auction where the property is sold to the highest bidder. There is not a minimum or reserve price that must be met to complete the auction sale.

Reserve Auction: A “reserve” auction means that a price has been set between the seller and the auctioneer that must be met to complete the sale. Reserves are often used to provide the seller with security that they receive at certain amount of money to meet their sale goal.

  Please give us a call so that one of our Executives can provide a consultation with you today.  We look forward to serving you at J. Sugarman Auction Corporation.

Owner/President: Scott Grasso 954.464.3434
  A buyer’s premium is commonly used in auctions today as a form of payment for the auction company conducting the auction. The buyer’s premium is an advertised percentage of the high bid or flat fee added on to the high bid to determine the total contract price to be paid by the buyer.

  Please give us a call so that one of our Executives can provide a consultation with you today.  We look forward to serving you at J. Sugarman Auction Corporation.

Owner/President: Scott Grasso 954.464.3434
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. It is important that you inspect all auction properties before you bid, both real estate and personal property. Photos may not show all the details or potential faults with the asset and it is your job as a well-informed or well researched bidder to thoroughly inspect and know what you are bidding on BEFORE the start of the auction. Once you bid and buy an asset at auction, you are the new owner.

  Please give us a call so that one of our Executives can provide a consultation with you today.  We look forward to serving you at J. Sugarman Auction Corporation.

Owner/President: Scott Grasso 954.464.3434
We encourage you to view the property before auction day. Due diligence on the part of the bidder is important with auctions. Contact the auction company managing the auction and inquire about times when open houses will take place, as well as any paperwork available on the property. Auctioneers want you to feel comfortable on auction day. Always feel free to call and ask questions.  

Please give us a call so that one of our Executives can provide a consultation with you today.  We look forward to serving you at J. Sugarman Auction Corporation.

Owner/President: Scott Grasso 954.464.3434
Minimum bids are routinely used at auctions to provide prospective buyers with an initial price range of where bidding will begin. If an auction has a “minimum bid” of $50,000, prospective bidders will know that the auction will start with an opening bid of $50,000 and that the asset will not sell for anything less than $50,000. Often times, auctions are advertised with an “opening bid”, but this should not be confused with a “minimum bid”. An “opening bid” simply means a price where the bidding opens.

  Please give us a call so that one of our Executives can provide a consultation with you today.  We look forward to serving you at J. Sugarman Auction Corporation.

Owner/President: Scott Grasso 954.464.3434