Is FR Liquidation & Auctions LLC a licensed auctioneer?
-Yes, we have 2 licensed auctioneers and hold valid Texas Auctioneer license 17478
in good standing.Are there any guarantees in the liquidation auction?
-No, an auction is a competitive, market-driven medium to offer items and services to the public. There are no guarantees that a specific item will reach a specific price on any given day. We advise all clients that items will sell for fair market value*.Can I put minimums or reserves on consigned items?
-No. We do not place reserves on items. Reserves are counter-productive to the bidding process. Items with reserves usually receive 40% 50% less bid activity and usually do not sell when compared to non-reserve items.How long does it take to get paid once the auction has closed?
- Section 67.70 of TDLR Auctioneer administrative rules
states, "Pay all amounts due the seller or consignor within fifteen (15) banking days (M-F) of the auction unless otherwise required by statute or a written contract between license holder and seller."Is FR Liquidations & Auctions LLC bonded?
- FR Liquidation & Auctions Inc. is a party to the required Auctioneer Recovery fund held in escrow by the State of Texas as set forth in Texas Administrative Code 16, Chapter 67.40
.Is FR Liquidations & Auctions LLC insured?
-Yes, we carry business liability insurance of $1,000,000 per occurrence. Click here to view our Insurance Certificate.Can I remove items from the auction if I change my mind and do not want to sell?
- Unfortunately, we do not allow items to be removed once an auction has been opened For bidding. Sellers can however “buy back” the item by bidding in the auction.Can I sell anything with FR Liquidation & Auctions LLC?
- FR Liquidation & Auctions Inc. strives to sell the highest quality items sought by the market and in order to accomplish that balance maintains a fluid policy list of unacceptable items.How much does it cost for auction services?
- Our fees are based on several factors and can range from 15%-40% based onseller services desired.Does FR Liquidation & Auctions LLC use a certified appraiser?
- We have teamed up with Maple Leaf Appraisals
experienced and certified appraiser/licensed auctioneer Kent D. Anderson.Does FR Liquidation & Auctions LLC accept credit cards?
- Yes, we accept Visa
as well as PayPal
and Chase quickpay.Does FR Liquidation & Auctions LLC charge a convenience fee to customers who use a credit card?
- No, per Texas Finance code section 339.001
it is against the law in the state of Texas to charge a fee for credit card use.What type of items and auctions does FR Liquidation & Auctions LLC sell?
- #Business Liquidations #Estates #Consignments #Tools #Firearms #Furniture #Appliances #Antiques #Electronics #Collectables #Sports memorabilia #Furs #Clothing #Ceramic ware #Porcelains #Art #Housewares #Home decor #Jewelry #Watches #Glassware #Vintage #Health and #beauty supplies and much moreWhat is the definition of "Fair market value"?
*Fair market value (FMV) is an estimate of the market value of an item or product, based on what a knowledgeable, willing, and un-pressured buyer would possibly pay to a knowledgeable, willing, and un-pressured seller in the free market. An estimate of fair market value may be founded either on precedent or extrapolation. Fair market value differs from the intrinsic value that an individual may place on the same asset based on their own preferences, circumstances and emotions.