Buying at TriStar Auction Group:
Selling with TriStar Auction Group:
Q: How do I register to participate in the auction? A: You need to register and provide identification and contact information to bid at an auction. It is a simple process. Make sure to watch the how-to video under the resource tab at the top of the website or at the link below.
Q: Is there a fee to register as a bidder? A: Currently there is no fee to register for our auctions, only a buyers premium added to the winning bids.
Q: What payment methods are accepted for purchases? A: We accept payments via wire transfers, certified funds, or cash payments made in person at our office only. You may also pay your invoice of $5000 or less with a credit card online through your TriStar Auction bidder account. Please note there is an additional 3% charge for cc payments.
Q: Are there any additional fees or taxes on top of the winning bid? A: In addition to your winning bid, you will have a buyer’s premium of 10% if buying on TriStar Auction Group’s platform, any applicable sales taxes, and $50 title fee if the item has a title.
Q: Can I inspect items before the auction? A: YES! For Every auction, we offer advertised preview days, allowing you to examine items before bidding. Check the auction schedule for these times. It is usually the 2 days before auction day.
Q: What happens if I win an item at auction? A: If you win an item, payment is due in two banking days. You will receive an invoice at the close of the auction. The wiring instructions are on the invoice. You can also pay your invoice by signing into your TriStar account and paying by credit card.
Q: How do I consign my heavy equipment and truck for auction? A: To consign an item, contact us. We will meet with you in person or on the phone and help determine the best route for your needs. Remember we can sell at your lot or ours! In this meeting we will assess the value, talk about our commission, and explain how payment is made within 10 banking days to you.
Q: What are the seller's fees and commissions? A: Auction houses charge a seller's commission, which is a percentage of the final sale price. We charge either a sliding scale or flat-rate commission based on the volume, type, estimated value, location of the items, and your timeframe. Reach out to us today for an estimate and find out how TriStar can work for you. This will be discussed in our initial consultation as well as printed on your sellers agreement.
Q: Is this an absolute auction? A: All of our auctions generally sell with reserve. Not every item sells with a minimum or reserve, but we do allow the seller to make this choice.
Q: How is the reserve price determined? A: The reserve price is the minimum amount at which the item can be sold. It is typically set by the seller in their consultation with the TriStar Auction Group. Not every item has a reserve, but we do offer this option!
Q: What happens if my item doesn't sell? A: If your item doesn't meet the reserve price, you can choose to re-list the item in an upcoming auction, lower the reserve, or take the item back.
Q: When do I receive payment for my sold items? A: You get paid in 10 banking days! By check, wire transfer or ACH.
Virtual Online Auction FAQ’s
Q: How do I access the virtual auction platform? A: Go to TriStarAuction.com. On auction day, when the auction goes live you will enter the bidding arena by clicking the ‘Enter Live Auction’ button. You will need to create an account, once your account is completed a unique bidding number is given to you.
Q: Is there a difference in the bidding process for virtual auctions? A: Virtual auctions bring all the excitement that a in person auction can bring. You’ll place bids using the online interface, either live with the auctioneer on auction day or by placing pre-bids and maximum bids prior to auction day.
Q: What kind of tech requirements are necessary to participate in a virtual auction? A: Ensure your device (computer, tablet, or smartphone) meets the technical requirements of the auction platform, such as internet speed, compatible browsers, and any software downloads needed to participate seamlessly. We have not seen any device not supported for our platform.
Q: What support is available for sellers in a virtual auction? A: We provide support throughout the virtual selling process. TriStar Auction Group will come to you to photograph, describe, and video your items. Or simply bring it to our Equipment Yard and we can handle all the details.
General Auction Information: Q: What is a buyer's premium? A: A buyer's premium is an additional fee charged to the winning bidder on top of the final hammer price.
Q: What is a catalog and how can I get one? A: A catalog is a detailed listing of items in the auction. You can often obtain a catalog in print on inspection days or online in the auction catalog.
Q: Is all bidding online? A: Yes, all bidding is online. You will hear and see our auctioneers on auction day sell each item. This allows you to participate remotely. You can register and bid online through TriStar Auction Group’s website, ProxiBid or EquipmentFacts. (Note additional 2% buyers fee is on ProxiBid & EquipmentFacts)
Q: What if I am not available to bid on the auction day? A: You can place a pre-bid prior to the auction day. As soon as our catalog opens, you can place what we call a pre-bid online prior to auction day. You can also place a bid higher than the current bid or a bid in which you would pay up to and the software will bid on your behalf during the pre-bid time period as well as the live auction until you are the winner, or you have been outbid.
Q: How can I learn more about the items up for auction, such as their history and background? A: Most of the time when we have documented information about the item, we will include that in the description of the item. If what you are looking for is not on our website, you can also ask us for additional details if needed.
Q: How do I schedule a pickup of the items I buy? A: Once you have received your paid invoice you will receive the Lot release passes attached for each item purchased. The locations will be listed for each lot in the descriptions on your invoice as well as on the Lot Release Pass. You may contact our office directly to make an appointment to pickup items that are not located at our equipment yard. Items located at our equipment yard may be picked up Monday – Friday 8:00 am-4:00 pm Central Time.
Q: How do I know where this equipment is located? A: The city and state where each item is located is denoted in the lot description. The physical address of the item will be shown in the lot description on the paid invoice as well as the lot release passes.
Q: Are you open to the public? A: Yes! Our auctions are open to the public & dealers alike.