Upcoming Auctions :: The Auction Process :: Auction FAQ

Auction FAQ

Anyone who is unfamiliar with how the auction process takes place will often ask, "How does it all happen?” Listed below you will find the usual progression of how Mark will serve you with this task. Steps can be altered to fit the particular circumstances of you situation.

  • If you are considering an auction but want to know more about how it works, give Mark a call at: (419) 492-2042 or email him at mark@markyosickauctioneer.com.

  • An initial appointment will be arranged at your convenience. It may be beneficial to have this meeting take place at the potential auction site so items or property can be viewed for best suggestions on how to proceed.

  • A contract is signed between the client and Mark to conform with Ohio law. An auction date and location are usually confirmed at this time.

  • In regards to estates, the family should have all items not to be sold either removed from the premises or labeled “Not to be sold.” Once the list is made and the sale bill written and published in newspapers and flyers, items cannot be “pulled” by the family. This is to prevent any accusations of false advertising.

  • The client has the option to provide their own help to prepare items for auction under the direction of Mark. The client also has the option to have Mark hire for them reliable and honest people to complete the task at the going rate of labor cost. Mark will work along with the auction crew sorting and arranging items preparing for the auction day, for the same labor cost as each of his crew members. How much time this involves depends of each particular circumstance. 

  • Depending on the quantity of auction items or research and advertising to be done, Mark needs approximately six weeks to list, prepare, advertise and set up an auction.

  • What newspapers your sale bill will appear in will be discussed and agreed upon with the seller and Mark at the time a contract is signed.

  • On the day of auction, items will be displayed and sold. Most often the settlement between the seller and Mark will be completed at an arranged place within a week or two of the auction date. At this time the seller will be shown his cost for labor, advertising, and any auction related cost, including the commission. The sum of these expenses will be deducted from the gross sale total. The seller will be given a check in the amount of their net profits at this time. The seller will also be given a copy of the clerking sheets showing what each sold item brought.

  • Mark will work with the seller from start to finish to explain the auction process and to do his professional best to make your auction a success.

 



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