An online auction is similar to regular live auctions except that it is conducted entirely over the internet. In effect, the software system is taking the place of the auctioneer in controlling the bidding and closing of the lots being sold.
Auctions take place very quickly, over a short period of time. They typically involve the equipment remaining at the manufacturing facility and the seller usually participates in the sale. Liquidation is the process of selling the assets of a business over a longer period of time in order to attain higher values that are closer to market value.
Traditional auctions are generally conducted on-site and in place at the asset location. Bidders are required to arrive early for an inspection and must remain onsite for the duration of the event while items are sold one at a time. Removal is usually the sale day, the bidder may be required to come back to pick up their items. The 6IX Auction events begin bidding days or weeks in advance of the event closing. Bidders can take their time to become familiar with the catalog, bid interactively or use the MaxBid feature which allows the system to bid on your behalf up to your set amount. With The 6IX Auction events, you can participate on your schedule and at your pace from the comfort of your home or office.
A Buyers Premium is the amount we charge buyers, on top of the purchase price, which goes to covering the many expenses we incur in order to bring information to qualified buyers. Example: If a buyer has a winning bid of $100.00 for an item; their final bill would be $100 +10% ($10.00) + Ontario HST (13%, or in this case, $13.00).
Each item will have a countdown to when it will close on the day of the auction. To have a fair bid for all, any item that will be closing within two minutes, you can continue to place a bid, which will allow the timer to extend for an additional 2 minutes. For example, if the item has 30 seconds left on the timer and your bid is accepted. The new timer will reset at 2 minutes and begin to count down. This will continue until no further bids are placed and the time expires.
The purchaser shall collect the purchased lots from our facility within three days from the date of the auction sale, after which date the purchaser shall be responsible for all storage charges, per the terms and conditions of the auction, until the date the lot(s) are removed. Office hours are Monday through Friday from 9:00 AM to 5:00 PM. In addition, we can make arrangements for weekends pick up.
Yes, we contract the packing, shipping & insuring through third-party providers.
Unfortunately, no. All items are sold “as is/where is”.
Yes. Anything that will help us give you the best offer for your merchandise. Manifests can be submitted in spreadsheet format (xls, csv) or PDF. Also any other documentation or photos are appreciated.
The 6IX Auction is happy to provide complimentary auction estimates for items that we propose for auction or any other sale channels. (terms & conditions apply)
No, it is not. Please note that some item estimates are subject to physical inspection as well as market fluctuation. Estimates are not formal documents for insurance, taxes or estate valuations and cannot be used as such.
Disclaimer: Preliminary estimates may be subject to change upon inspection of the item
We will do our best to respond to your enquiry within three business days. Where your property is being reviewed by a number of departments or specialists, we may take a little longer. Please contact us if you have any questions.
A Consignor agreement must be signed and returned. Subsequently, arrangements for shipping, drop-off, or moving the item(s) to The 6IX Auction facility.
Each consignment is different and will receive individual attention. Once your submission has been reviewed, we will be in touch with you to confirm whether your material is suitable for one of our auctions or our other sales platforms, and if so, discuss the fees and terms for consigning.
When submitting a consignment, we ask that you provide as much information as possible on the item(s).
This includes the following: age, make, model, location, serial number, condition, certification and/or authentication, if any.
You can never guarantee an auction result, but you can protect yourself by placing a ‘reserve’ on an item.
A reserve is a minimum acceptable selling price that can be set up to the low estimate given to an item under which a lot will not be sold. The 6IX Auction exercises a discretionary reserve on behalf of the consignor at half of the low estimate on all lots sold. For lots with a low estimate of $500 or greater, a higher reserve may be agreed upon between the consignor and The 6IX Auction, and is never to exceed the low estimate.
From inventory management to cataloguing to photography and marketing, every item that comes through our doors is given the white glove treatment.
The 6IX Auction will help you make arrangements for moving your material. Please contact us for more more information.
Whenever lots go unsold at auction, the consignor will be notified. The 6IX Auction handles post-sale arrangements several ways. Items unsold in one auction may be put into a future sale at a lower estimate than was set initially. In the example of an unsold lot with an estimate of $400-$600, if the item is re-offered, the estimate for the following auction would be $200-$300. Additionally, if the consignor is interested in having the item(s) returned to their possession, they may collect their item(s) at any time during the week following the auction.
The 6IX Auction will help you make arrangements for moving your material. We work with a number moving companies within Ontario that specialize in handling a wide range of assets and inventories.