Auction Procedures

Learn the auction procedures when attending one of our events.

Registration and Preview

Preview section is open to the public and admission is free. Registration commences One hour prior to bidding at live auctions during the start of viewing. Prospective buyers require registration with government-issued photo identification. A Bid Card/Bid Number and Catalog will be issued after registration. We encourage prospective buyers to examine Lots thoroughly and ask questions regarding the lots they wish to bid on.

Online Bidding

Online Bidding is available to our clients as a convenience, and is subject to our Terms herein, along with Terms of use of online bidding platforms for Android, iOS, and/or Desktop. A preview is held to accommodate inspection of items. It is the responsibility of buyers to inspect each lot they wish to bid on, and to rely on their own judgement. Please submit your online registration at least 48 hours prior to the sale for bidding approval.


After you win a bid, we will email you an invoice, and request settlement by Bank Wire (instructions will be emailed), Bank Draft, Cash, or Credit Card. Upon settlement, our staff will make arrangements to meet with you in person to deliver your purchased Lots (this service is available only for Greater Vancouver, Calgary, and Toronto). All other Lots where personal delivery is not possible, we will make arrangements to ship your Lots to you insured.


Unless otherwise stated, lots offered at auction are subject to a Reserve. A Reserve is the confidential minimum price established by the seller. We may implement such reserves by placing successive and/or consecutive bids for a lot, or bids in response to other bidders. Lots that do not reach the reserve will not sell, and shall be passed or bought in by seller.

Live Bidding

In order to bid you must be registered and have obtained a bid card and a catalog. During the auction, the Auctioneer will announce the Lot number of each item, the going Bid and the asking bid; you may bid on the items of interest to you by raising your bid card so the auctioneer can acknowledge your offer. If a counter offer is received by the auctioneer that is higher than your last offer, the auctioneer will give you another chance to place a higher bid; this process continues until the last bid is in. If you are the last and winning Bidder on an item, please show your bid card to the auctioneer at the conclusion of the bidding process.


Unless otherwise stated, lots offered at auction are subject to a Reserve. A Reserve is the confidential minimum price established by the seller. We may implement such reserves by placing successive and/or consecutive bids for a lot, or bids in response to other bidders. Lots that do not reach the reserve will not sell, and shall be passed or bought in by seller.

Payment

A Handling Charge of 17.5% handling charge for Credit Card settlements, or a 15% handling charge for Bank Wire/Draft/Direct Deposit/Cash settlements added to each purchase, plus applicable sales taxes. Buyers can take immediate delivery of items upon full payment by Cash, Verified Bank Drafts, or Bank Wire Deposits to our account, once the payment clears our account. Our staff will furnish you with our Bank Wire Instructions should you elect to settle the funds in this manner. Partial Payments require a 25% Cash deposit and the goods will be sealed for delivery. Auctioneer, at his sole discretion, take the 25% deposit on Credit Cards, to be refunded to buyer after final payment has been settled in full by methods prescribed herein. Full payments due within 48 hours and goods delivered upon verification at our bank.

Terms and Conditions of Sale

All sales are final and items are sold on an "AS IS" basis. A handling charge of 17.5% (for credit card settlement), or 15% (bank wire, direct deposit, bank draft, cash settlement) applies. In case of a bidding dispute, our records shall be conclusive. By participating in our auction, you acknowledge that you are bound by the as noted on the Registration Agreement and as posted on this website. We recommend you familiarize yourself with Terms and Conditions of Sale before bidding at Federal Auction.

Important Notices

Unless the Federal Auction (We/Our) Catalog state(s) that a gemstone is "Natural", "Unheated" or "Unoiled" we have assumed that some form of Treatment may have been used for all such gemstones as commonly accepted in the gem industry. Such acceptable treatments may or may not be permanent. In cases where the gem industry does not accept a treatment, we may either reject the Consignment or disclose to the buyer any such treatment accordingly.


In Swiss watches, "Custom Added Diamonds" means that Diamonds were added to the watch by a party other than the manufacturer, as opposed to "Factory/Original Diamonds", which are added by the manufacturer. Some watches come into auction with non-factory upgrades. Federal Auction takes no part in modifying items it sells. In cases where such an upgrade applies, the items are described accordingly. For more details, see Important Notices.

Absentee Bids

If you are unable to attend a live auction, Absentee Bids can be submitted to us in writing by filling out an Absentee Bid Form. The auctioneer can place absentee bids on your behalf up to the maximum limit set by you for a given lot.


Online Absentee Bids may be placed via our App or Desktop accounts by submitting your maximum bid on a particular lot. Bids will be executed at the lowest price as permitted by other bids or reserves.

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