Buyer FAQs

Have questions about buying equipment with us or attending an auction event?
Review our most frequently asked questions.

What is an auction?

An auction is a public sale in which goods or properties are sold to the highest bidder. Individuals who are wanting to buy items can register to bid.

I am planning to bid at an upcoming auction, what do I need to prepare?

If it is an online only auction, be sure you are registered to bid using the link located in the event on the buy page. The catalog of items that are selling on a particular date will be added to the event 1-2 weeks ahead of the auction date.

How do I bid?

You will need to create a free account by clicking here.

Once you have created an account, you will need to register for the specific auction you are interested in purchasing items.

Is my information secure?

We take data security very seriously. We work a third party system that is PCI compliant and has the highest level of data security in the industry.

What are the different buying formats?

BIC supports multiple types of auctions. Each event will specify which type of auction we are hosting. We also have items available that can be purchased immediately at a set price. You can view these items here.

Live Online Auctions are similar to the live webcast auctions with a slight difference. They are broadcast online through audio and video stream for bidders to hear and follow the auction. Bidders are only able to participate in these auctions remotely, even though they are able to see and hear the auctioneer live on camera, there is no live bidding available onsite.

Timed Online Auctions are auctions with automated closing and extension times. Online bidders are able to place bids on the lots from the start date till the end of the auction. On the last day of the auction, the lots have a countdown that extends if bidding is still ongoing. The purpose of a timed auction is to mimic a live auction in an automated and online only format. Timed auctions do not have audio or video streams.

How do I pay? Can I pay by credit card?

Once you receive the invoice by email you can complete payment in a variety of ways. Money wire, credit card, and cash are accepted. Money wire is preferred and additional credit card fees do apply. This information will be provided in the invoice.

When do I pick up my items?

Once you have successfully won an item at auction, you will be able to arrange pick up during set load out times. The location(s), dates, and times for pick up will be included in the invoice that is emailed after the auction. You as the buyer, are responsible for load out, shipping, and rigging if necessary. In some circumstances, BIC Auctions may be available to provide these services at additional charge. 

What is the buyer’s premium?

The buyer’s premium is a charge in addition to your bid amount.

Example: buyers premium for Auction is 15%. You bid $100 for an item. Buyers premium for that item is $15. You pay $115.