Frequently Asked Questions (FAQ)
+ What information do you need from me to bid? - What information do you need from me to bid?
All bidders must register before the start of the auction. Registration requires full name, mailing/billing address, phone number and a valid e-mail and online bidders must provide a credit card. On-site bidders at our live auction are also required to provide a valid form of government issued identification. If you do not have an e-mail address you may still register, however there will be a slight delay in receiving any winning invoices.
+ What forms of bidding do you offer? - What forms of bidding do you offer?
For live auctions bidders may register and bid at auction hall the day of the sale. Absentee Bidding:
Bid and register on our absentee/online bidding platform at SCHMITT HORAN LIVE
. SCHMITT HORAN LIVE allows you to place bids easily while browsing our catalog and to log in at your convenience to monitor or adjust your bids. Absentee bidding can also be done by filling out our ONLINE ABSENTEE BIDDING FORM
or by scanning and e-mailing, faxing or mailing our PRINTABLE ABSENTEE BIDDING FORM (pdf)
. Absentee bids are executed the day of the auction by a trained bidding agent of Schmitt Horan & Co. Please contact Schmitt Horan to ensure that bids that have been e-mailed, faxed or mailed have been received before the date of the auction. Schmitt Horan & Co. shall not be held liable for for a failure to execute absentee bids. Phone Bidding:
Phone bidding is available for most items. If it is not available, we shall make every effort to assist you with alternate forms of bidding. In order to phone bid you please call the office at (603) 432-2237
or send an e-mail to email@example.com
listing what lots you are interested in phone bidding on and the best contact number to reach you on the day of the auction. You may also use the forms available at the links shown above. Please write “phone” where it asks for the amount you want to bid and be sure to put your primary phone number in the cell phone slot. Phone bids must be arranged at least 72 hours prior to the auction. Online Bidding:
Live Online Bidding is offered through our own platform available at SCHMITT HORAN LIVE
. There are no extra fees for using our in-house live bidding platform. You can also bid live online through INVALUABLE
. Invaluable charges a 5% fee for using their platform.
+ An item sold for my maximum bid but I am not the winner. How does that happen? - An item sold for my maximum bid but I am not the winner. How does that happen?
Bidding during a live auction is competitive and complex. The auctioneer may call on several different bidding types to advance the bidding including live persons, telephone bidders, live online bidders, absentee bidders by mail, etc. In a complex process like this, the influence of randomness can sometimes be impossible to avoid.
For example, suppose you leave a $1000 bid on a watch and the clerk bidding on your behalf opens your bid at $550 and bids up to $950 as bidding alternates between the clerk and the floor. An audience member responds at that point by bidding $1000, which equals your maximum submitted bid so your bid cannot be advanced, yet you do not possess control of the bid. To help avoid this we offer a "Plus One" feature when leaving absentee bids. However, despite the added security of "Plus One", in a competitive complex auction environment sometimes this problem is unavoidable.
+ What is the “Plus One” option on the absentee bid forms? - What is the “Plus One” option on the absentee bid forms?
"Plus One" is a courtesy offered to our absentee bidders. It is a bid that allows the auction clerk executing absentee bids the flexibility to bid one increment above the absentee bidder's maximum submitted bid. This prevents a member of the audience or any other bidder from buying the item(s) of interest for the same amount as the absentee bidder's maximum submitted bid.
For example, suppose you leave a $1000 bid on a watch and our clerk opens your bid at $550 and bids up to $950 as bidding alternates between the clerk and the floor. An audience member responds at that point by bidding $1000, which equals your maximum submitted bid. Unfortunately, your bid cannot be advanced because it would exceed your maximum bid limit, yet you do not possess control of the bid at your maximum. That belongs to the audience member partly as a result of the random nature of incremental bidding.
The "Plus One" option authorizes the clerk executing your bid on your behalf the opportunity to bid $1100 and win the watch back from the audience member. In the worst case scenario, the competition will either have to bid $1100 or $1200 to possess control of the bidding and you will not lose the item at the level of your maximum submitted bid.
+ How much should I bid? - How much should I bid?
Your bid should be the highest amount you are willing to pay for an item. Also keep in mind that, on top of the successful amount for the hammer price, the buyer will pay a Buyer's Premium of 18%.
Our staff will attempt to execute your bid competitively, or in other words, at the lowest possible amount. We may open bidding for an absentee bidder at a level of approximately 50% of their maximum bid or less. Once the bid is open, we do not advance an absentee bidder's bid unless competition from other bidders necessitates it.
Any shipping costs are also the buyer's responsibility. Please keep in mind BIDDING INCREMENTS
. If your bid is not aligned with our bidding increments we have the authority to round down to the next lowest bid increment or contact you to adjust your bid.
+ What time will my lot be offered for sale? - What time will my lot be offered for sale?
It is nearly impossible to know the exact minute when a specific item will be offered during the course of the auction. Generally, our auctioneers sell approximately 60 to 120 lots per hour, but this may vary depending on several factors. Unless one is leaving an absentee bid, which does not require a bidder to participate in real time, all phone, live online and phone bidders should block out several hours to ensure he or she is available to participate in real time. Upon request, we can offer general guidance regarding an approximate 2 hour window when it is most likely your item of interest should be sold.
+ What are the bidding increments? - What are the bidding Increments?
Bidding increments are values the auctioneer adheres to while advancing the bidding. They can be found at Bid Increments
. The auctioneer will make every effort to adhere strictly to these increments during all auctions, both live and online-only. However, Schmitt Horan & Co. shall not be held liable in the event that the auctioneer fails to do so.
+ How long do I have to pay for my items? - How long do I have to pay for my items?
Payment is due upon receipt of the invoice, and no later than 30 days from the date of the auction. Items not paid for within the 30 days from the date of the auction will be charged a 2% monthly interest rate on the balance due.
Payment is due upon receipt of the invoice, and no later than 5 business days from the conclusion of the auction. Items not paid for within 10 business days from the date of the auction will be charged a 2% monthly interest rate on the balance due.
+ Do you accept returns? - Do you accept returns?
All sales are final. UNDER NO CIRCUMSTANCES WILL RETURNS BE ACCEPTED OR REFUNDS ISSUED LATER THAN 30 DAYS AFTER THE AUCTION. Returns will be considered only for items that do not conform to catalog description. If there is a problem and a refund or adjustment is requested we ask to be notified within one week of the auction and require to be notified ABSOLUTELY no later than 30 days of the auction, no exceptions. Transit damage alone is not sufficient reason to return an item. We will assist in claims against transport companies. Please be sure to make payment and arrange timely pickup of your items so that you can inspect and approve your item before the 30 day deadline.
+ What forms of payment do you accept? - What forms of payment do you accept?
We accept all major credit cards including Mastercard, VISA, American Express, Discover and PayPal. We accept personal and business checks. We may ask for identification and/or references from your bank for new accounts or large check amounts. We accept cash. For amounts over $10,000 in cash you will be required to fill out IRS Form 8300. Live auction participants ONLY are eligible for a 3% discount on the buyer's premium if they pay by cash or check. This discount does not apply to those bidding on online-only auctions, those bidding through Invaluable or those paying by credit card or PayPal. For more information see Payments and Shipping
+ How can I arrange for pick up or take delivery of my items? - How can I arrange for pick up or take delivery of my items?
If you are bidding in person, you may pick up any items you have won at the auction site before the close of the auction weekend. If you are bidding absentee, by phone or online you may schedule a pickup six business days or later following the close of the auction. Pickups after auction weekend take place in our warehouse located in Windham, NH.
If you are not bidding live in person your items are not availbe for pickup at the auction site. Items won by absentee bidders are continuously tranported offsite through the course of the weekend in order for us to be able to vacate the auction hall. They will not be available for pickup until at least six business days following the auction at our warehouse. If you are aware at least one week before the auction that you will be bidding in absentia and would like to pick up on-site the weekend of the auction, you may call (603) 432-2237
or e-mail firstname.lastname@example.org
to make a special request to do so and our team will do their best to accommodate you. Online-Only Auctions
Participants in our online-only auctions are treated like absentee bidders for live auctions. Winning bidders may schedule a pickup six business days or later following the close of the auction.
+ If I cannot pickup, how does shipping work? - If I cannot pickup, how does shipping work?
These terms apply to both live auction bidders and online-only auction bidders. Watches, Jewelry and Smaller Items
Oftentimes, we are able to provide in-house shipping on items of smaller size, including most watches, jewelry, coins, etc. A shipping fee may be included on your initial e-mailed invoice, which would indicate the option of in-house shipping. Please note our in-house shipping fees are not included in the invoices generated initially by Invaluable through their platform. Clocks and Larger Items
Shipping must be arranged through a third party shipper. We provide a list of recommended shippers on our website at Payments and Shipping
. A release form must be filled out (see Payments and Shipping
) and the shipper you designate will pick your item(s) up at our warehouse and transport it or ship it to you.