What is a valuation?
A detailed description and current value of property prepared by the auction staff. Valuations, which differ from auction estimates, are used for a variety of needs, including collateral loans, estate taxes, estate planning, insurance and charitable contributions.
We have over 40 years experience with selling and appraising:
Industrial & Commercial Equipment
Manufacturing Operations
Businesses & Inventories
Specialty Assets
Estates, Antiques & Collectables
Office Equipment & Furniture
What we do
We will examine your property to determine if it’s appropriate for sale, and if so, can provide an estimate of fair market value. Send your inquiries and photos to mikejonesauctiongroup@gmail.com
Appraising is simply an act of estimating the value of something — real or personal property for some specific purpose. We are diverse in appraisals from real property to real estate.
Appraisal Brokerage live & online auctions sealed bid
how it works
A formal evaluation of the fair market and/or insurance value of a given property. Fair market value represents what the auction house believes an item would bring at auction. Insurance value reflects what it would cost to replace an item. A Valuations department conducts appraisals by comparing a piece with similar, recently sold works, but no appraisal is definitive. You do not need a formal written appraisal in order to obtain a presale auction estimate.
— Research
A sellers commission paid by the consignor to the auction house, which is deducted from the hammer price.
Reserve or Reserve Price is never formally disclosed, the reserve price is the confidential minimum price agreed upon between the consignor and the auction house. Reserves must be set at or below the low estimate, and if bidding ends before the reserve is reached, the property will not be sold.
Buyer’s Premium is the amount above the hammer price that is paid as part of the total purchase price.
— Fees
Almost all property for sale at auction is offered “as is,” meaning that the property or item is sold with all existing faults and imperfections.
A bidder card is an object displaying the number assigned to a bidder when he or she registers at the auction. To place a bid, simply raise your bidder card until the auctioneer acknowledges you. If you win the auction, your bidder number is recorded alongside your bid. To pay for your purchase, you will need to bring your bidder card to the Payments area.