What's Happening?
The Crow's Nest is hosting a Puyallup Vintage & Miscellaneous Auction featuring a wide array of vintage and antique collectibles. Items up for auction include milk glass, mid-century modern items, Sega Genesis, golf clubs, and a large collection of brass
items. The auction is conducted online, and participants must register to bid. A 15% buyer's premium applies to all lots, and an 8.3% Washington state tax is applicable unless a reseller's permit is on file. The auction operates under a strict 'As Is, Where Is' policy, meaning all items are sold in their current condition without any guarantees or warranties. Buyers are responsible for inspecting items before purchase and must handle the removal, packing, and shipping of items at their own expense.
Why It's Important?
This auction highlights the growing trend of online estate sales, which offer collectors and enthusiasts access to unique and rare items from the comfort of their homes. The 'As Is, Where Is' policy underscores the importance of buyer diligence in online auctions, as it places the responsibility of item condition assessment on the buyer. This approach can impact buyer confidence and influence bidding behavior, potentially affecting final sale prices. Additionally, the auction's tax and premium structure reflects common practices in the industry, which can significantly impact the total cost for buyers.
What's Next?
Participants in the auction must adhere to the payment deadline of August 1st by 9 AM. The auction's soft close feature, which extends the bidding time if a bid is placed in the last minute, may lead to competitive bidding and higher final prices. Buyers will need to arrange for item pickup on August 1st between 9 AM and 2 PM. The success of this auction could influence future online estate sales, encouraging more sellers to adopt similar models.
