DW Auctions is an honest, reliable business with over 10 years in the auction industry. Having been on the buyer's side, we are now on the selling side, doing what we do best: getting you the most possible from each unit.
Auction schedules are handed out at each of our sales, upon which the buyers are then notified. Schedules are updated on a daily basis.
Terms and conditions of the sale are posted before the start of the auction, as well as any rules that your company may have. It is stated before each auction that it is strictly a cash-only affair; checks and credit cards are not accepted. When a unit is opened, a cleaning deposit is set which all potential buyers are made aware of. The cleaning deposit is fully refundable, provided the unit is cleaned when the buyer has finished. The unit is then sold to the highest bidder, plus the cleaning deposit and sales tax if the buyer does not have a resale number.
At the end of the auction, the money is collected from all successful bidders. A copy of the Bill of Sale is then given and one is kept on file with the auctioneer. Each successful bidder is also charged a refundable cleaning deposit for each unit bought. The cash depost is collected at the time of payment and is attached to the company's copy of the bill of sale. After the buyer cleans the unit and is finished, they are then refunded the cleaning deposit.
When all money has been collected from each successful bidder, the auctioneer then settles with your comany, issuing a Final Settlement Form. The form documents gross sales, sales tax collected, auctioneer's fees and net procceeds. We collect sales tax for buyers without a resale number and file these collections with the California State Board of Equalization.
DW Auction Services also offers video inventory services. Accompanied by the manager, we will cut the units locks, take a video inventory of each unit, and then place a special anti-tamper seal on the unit. We then provide a written inventory with an approximation of what we expect the unit to sell for.
We can provide this service for you, so please contact us with any questions and we will be happy to help with your auction.
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