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F A Q ' s
Frequently Asked Questions
Click on any FAQ for an expanded answer.
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I'm new to auctions. What can you tell me about them?
If you've never been to an auction, we would suggest that you just sit and watch the process for about thirty minutes. You'll understand almost everything that is going on by then.
Some folks think that if they scratch their noses they might end up with an item they don't want. This just isn't true. The auctioneer normally has eye contact with his bidders, and will even ask, if he's not sure, "Are you bidding $50?". Just say, "I'm not bidding". At the DDD Auction, you will not be held to a bid you did not intend to make; however, make sure to let the auctioneer know before he moves to the next item.
If you do want to bid on an item, be sure to hold your bid card in the air. The auctioneer watches the whole room, and sometimes misses "subtle" bids.
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Do you accept consignments?
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Do you have "90 Days Same As Cash" financing?
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Are you able to ship my winnings?
Yes. We have a number of independent shippers who can assist with anything from a teacup to a piano. Please contact us for shippers' telephone numbers and other information.
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What does "Times the Money" mean?
Let's say the auctioneer wants to sell a set of six dining chairs. If the chairs are offered "times the money" then the winning bid is multiplied by six for a total bid. So, if a bidder wins with a $50 bid he will pay $300 ($50 x 6) for the set.
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What does "Choice" mean?
There are times when two or more similar items are sold "choice" rather than individually.
For example, if the auctioneer has three Reminngton bronzes, he may elect to sell them "choice". The high bidder has the option to buy one, two or all of the bronzes for the high bid price.
Sometimes two or more items make up a set. For example, a dining room suite may contain a table, six chairs, and a sideboard.
If the auctioneer announces that the suite will be sold "on hold" this is what happens:
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Each item (the table, the chairs, and the sideboard) is put up for auction. However, the winning bids are "held" until all three items are sold.
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The auctioneer then finds the sum of all winning bids and adds an additional 10% to the total. This calculated amount becomes the opening bid for the entire suite.
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If the calculated amount is met, the entire suite goes to the highest bidder; if not, each piece goes to the individual bidders.
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What is the "Buyer's Premium"?
The Buyer's Premium is a percentage of the hammer price that is added to each high bid. The Buyer's Premium at the Design District Auction Inc. (DDA) is 13% if you're in the gallery or 15% if you're bidding on line.
The DDA provides a 3% discount for cash, checks, or debit cards presented with a PIN.
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What do you mean by "Hammer Price"?
The "Hammer Price" is the high bid on an item -- the amount the auctioneer announces when he says, "SOLD". It does not include the Buyer's Premium.
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Do you allow absentee or telephone bidding?
Yes. Absentee bids can be placed either at the Auction House or on line.
We like to schedule telephone bids, so please tell us which lots you wish to bid on prior to the auction.
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When must my winnings be picked up?
We ask that you remove all items the day of sale; however, there is a "grace" period of two calendar days after the auction to pick up items. For example, items won in a Thursday auction must be removed not later than close of business on Saturday. (See "storage" FAQ.)
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Is storage available if I am unable to pick up my items?
Yes. Any item not removed from the premises by close of business on the second day after the auction is automatically placed in storage. The fee for storage is $1 per square foot of space with a 100 square foot minimum. The first months' storage fee ($100 minimum) is charged the first day items are placed in storage.
Auctions Open to the Public
In the Dallas Design District
1202 Riverfront, Dallas TX 75207
L Fausak TX16327 - 13%BP
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