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Basic Auction FAQs
An Auction is a service that offers buying or selling items through bidding,
live auction or online auction. The highest bid wins the item.
You determine the price of the item you purchase, unlike retail where there is a fixed price tag for all merchandise.
HMR Auctions conducts weekly auctions at three auction centres. Click here to see the exact locations.
On-site auctions and sealed biddings are announced by email, mobile and telemarketing communication channels and published
in recognized national newspapers. Register and pay the refundable bid deposit.
You will then collect your bid number which should be raised when you agree with the bid request of the auctioneer.
The auctioneer will call your number out if you are the first bid number that he spots.
When there are no more bids the last (highest) bidder is declared the winner by the auctioneer.
Auction is the quickest way to turn possessions or inventory into cash. Sellers are also assured that they will get the
fair market value for their goods. Auction also provides an aggressive, advanced marketing program that increases buyers’
Simply sign up to receive our newsletters. Choose the category of items you are interested in and we will be sure to inform you of when our Auctions are and the items we will have up for bids.
Yes, all bidders who wish to participate in any HMR auction or bidding are encouraged to inspect the items on
the advertised dates for viewing or the day before the auction.
Buyer’s Choice : A method of giving the highest bidder the right to choose similar succeeding lots,
each at the same price as the initial lot.
Absentee Bid :
A procedure that allows a bidder to participate in an auction without being physically present
by completing a form and listing your maximum bid. You will only be charged the highest live bid plus one more increment.
As is, where is :
A common term in auction that means items or goods are without warranty in terms of working condition.
Bidders are responsible for examining and judging the items during viewing days prior to the auction.
The price or offer a bidder is willing to pay for desired items or goods.
Open Bid :
A minimum bid amount is not set and the starting price is open for any offers.
Bid Increment :
The amount an item increases in price after each new bid. The auctioneer sets the increment,
which rises according to the present high bid value of an item.
Buyer’s Premium :
A percentage of the bid added to the amount that must be paid by the bidder.
The Buyer’s Premium is payable at the same time as the winner’s amount and forms part of the total
bill. The percentage of the Buyer’s Premium will be included in the product catalogue item description for Online Auctions.
Price established by the last bidder and acknowledged by the auctioneer before dropping the hammer (gavel).
On-site Auction :
An auction conducted on the premises where the goods are being sold. This is often a closed restaurant or business.
Reserve Price :
The minimum price that a seller is willing to accept for an item to be sold at auction.
Sealed Bid :
Method of sale utilized where confidential bids are submitted to be opened at a particular place and time.
Online Auction FAQs
To contact our Online Auction Administrator you can call +632 367 3034.
Once the Online Bidding has finished the successful bidder will be informed by e-mail.
HMR Online Auction Administrator will contact you by telephone shortly after the email is sent.
Invoices will be sent once the auction has closed to the email address provided upon registration.
Payments can be made via bank transfer or at any one of our HMR Auction centres. Account details will
be provided in the invoice sent to your email. All payments should be made to reach us within 3 working
days from the day auction closes. Items won will only be released once payment has been cleared and
HMR Auctions do not facilitate the shipment of items. Pick up of goods is the buyer’s responsibility
however, our affiliate, HMR Logistics is available to help you organize trucking or shipping to your
requested destination. The payment transactions made with HMR Logistics will be separate from HMR
Auctions. Won items must be paid first with HMR Auction before HMR Logistics or any other shipping
company will be authorized to collect the item s.
Yes, the item can be viewed but only upon request. You can contact the HMR Auction Administrator
or the Business Development Officer listed on the item’s catalogue description.
Bids cannot be cancelled once made online. A confirmation pop-up will appear once you place your bid.
As the bidder you must be sure that you want to place the bid.