In this guide, we'll walk through the entire process

from registration to item removal.

What Happens on Auction Day?

A First-Time Buyer's Guide

If you've never attended an auction before, the experience can seem intimidating. Between bidder registration, deposits, auction terms, and fast-paced bidding, it's natural to have questions.

The good news? Auctions are designed to be straightforward, transparent, and accessible to both new and experienced buyers.

At The Thomas Hirchak Company, we conduct a variety of auction formats, including:

• Live Real Estate Auctions
• Simulcast Public Auto Auctions
• Online-Only Commercial, Equipment, and Firearms Auctions

No matter what type of auction you're attending, understanding what happens on auction day can help you bid with confidence.

In this guide, we'll walk through the entire process from registration to item removal.

Understanding the Different Types of Auctions

Before auction day arrives, it's important to understand which type of auction you're participating in.

Live Auctions

A live auction takes place entirely in person with an auctioneer calling bids.

At THCo., we primarily conduct live auctions for real estate properties.

Learn more about our real estate auctions:

👉 https://www.thcauction.com/real-estate

Simulcast Auctions

Simulcast auctions combine:

• Live, in-person bidding
• Real-time online bidding
• A live auctioneer

Our Public Auto Auctions use this format, giving buyers the flexibility to participate in person or remotely.

👉 https://www.thcauction.com/public-auto-auctions

Online-Only Auctions

Online auctions take place over a scheduled bidding period and close electronically.

These auctions commonly include:

• Equipment
• Commercial assets
• Firearms
• Sporting goods
• Farm equipment
• Business liquidations

Browse upcoming auctions:

👉 https://www.thcauction.com/auctions

Step 1: Register for the Auction

The first step is registering to bid.

Depending on the auction type, registration may occur:

• Online
• In person
• Prior to auction day
• On auction day itself

Registration typically requires:

• Government-issued identification
• Contact information
• Acceptance of auction terms

For some auctions, additional documentation or deposits may also be required.

Learn more about our Terms and Policies here:

👉  https://www.thcauction.com/terms-and-policies

Step 2: Preview the Items or Property

One of the most important things a first-time buyer can do is attend a preview or open house whenever possible.

Preview opportunities allow buyers to:

• Inspect items
• Review condition
• Ask questions
• Better understand what they're bidding on

Examples include:

Commercial Auctions

Scheduled preview dates and times.

Public Auto Auctions

Vehicle inspections are available:

• Weekdays during business hours
• Auction day beginning at 7:30 AM

Real Estate Auctions

Open houses are often scheduled before auction day.

Firearms Auctions

Scheduled preview dates and times.

Upcoming Firearms & Sporting Goods Auctions:

👉 www.thcauction.com/upcoming-auctions-firearms-sporting-goods

Step 3: Understand the Auction Terms

Every auction has its own terms and conditions.

Before bidding, make sure you understand:

• Buyer's premiums
• Deposit requirements
• Payment deadlines
• Removal deadlines
• Shipping availability
• Registration requirements

Many questions are answered on our FAQ page:

👉 https://www.thcauction.com/faqs

Understanding the terms ahead of time can help avoid surprises after the auction.

Step 4: Set Your Budget

One of the best pieces of advice for first-time buyers is to determine your budget before the auction begins.

Remember to account for:

• Purchase price
• Buyer's premium
• Sales tax (when applicable)
• Transportation costs
• Removal expenses

Setting a budget beforehand helps ensure a positive auction experience.

Step 5: The Auction Begins

Live Auctions

During a live auction:

• The auctioneer presents the item or property.
• Bidders raise their bidder cards.
• Bidding progresses until the highest bid is accepted.

Live auctions can move quickly, so paying attention is important.

Simulcast Auctions

Simulcast auctions include both:

• In-person bidders
• Online bidders

The auctioneer manages both bidding audiences simultaneously.

This format creates a larger pool of potential buyers and often results in strong participation.

Online Auctions

Online-only auctions allow bidders to participate from anywhere.

Most online auctions feature:

• Incremental bidding
• Maximum bid settings
• Soft-close extensions

Soft-close bidding prevents last-second bid sniping by extending the closing time if bids are received near the end.

Step 6: If You Win the Bid

Congratulations!

Winning bidders will need to complete the next steps promptly.

Depending on the auction, this may include:

• Signing paperwork
• Paying a deposit
• Arranging payment
• Scheduling item removal

Each auction has specific requirements, so always review the terms and conditions carefully.

Understanding Deposits

Some auctions require deposits.

Examples include:

Public Auto Auctions

Typically a 25% deposit is due immediately following the sale.

Real Estate Auctions

Deposits are often required in certified funds according to the auction terms.

Commercial Auctions

Payment requirements vary by auction.

Always review the individual auction listing for specific details.

Payment Methods

Payment options vary depending on the auction type.

Examples may include:

• Credit cards
• Debit cards
• Cash
• Wire transfers
• Approved checks

Payment deadlines are clearly outlined in each auction's terms and conditions.

Item Removal & Pickup

Winning an item is only part of the process.

Removal deadlines are extremely important.

Every auction has:

• Designated pickup times
• Removal deadlines
• Storage policies

Planning transportation ahead of time can save both time and money.

Tips for First-Time Auction Buyers

Do Your Homework

Read descriptions carefully.

Attend previews whenever possible.

Understand the Terms

Know the payment and removal requirements before bidding.

Set a Budget

Stick to your predetermined spending limit.

Don't Be Afraid to Ask Questions

Our staff is happy to answer questions and help first-time buyers understand the process.

Pay Attention

Bidding can move quickly.

Stay engaged and follow the auction closely.

Why Auctions Continue to Grow in Popularity

Auctions offer several advantages:

• Transparent bidding
• Competitive pricing
• Diverse inventory
• Unique buying opportunities
• Defined timelines

Whether you're looking for:

• Real estate
• Vehicles
• Equipment
• Firearms
• Farm machinery
• Business assets

Auctions provide opportunities that many buyers may not find elsewhere.

Ready to Attend Your First Auction?

Explore our current and upcoming auctions:

👉 https://www.thcauction.com/auctions

Learn about our Public Auto Auctions:

👉 https://www.thcauction.com/public-auto-auctions

Explore Real Estate Auctions:

👉 https://www.thcauction.com/real-estate

View Firearms & Sporting Auctions:

👉 https://www.thcauction.com/upcoming-auctions-firearms-sporting-goods

Have Questions?

👉 https://www.thcauction.com/faqs

Final Thoughts

Attending your first auction doesn't have to be intimidating.

With a little preparation and an understanding of how the process works, auctions can become an exciting and rewarding way to purchase everything from real estate and vehicles to equipment, firearms, and collectibles.

Whether you're bidding online, attending a live auction, or participating in a simulcast event, understanding what happens on auction day can help you bid confidently and enjoy the experience.

🔔 Stay Connected with The Thomas Hirchak Company

📲 Follow Us for Auction Updates

We regularly post upcoming auctions, featured assets, bidding tips, and important deadlines.

Follow us on Social Media to stay informed:

Facebook 👉 https://www.facebook.com/THCAuction

Instagram 👉 https://www.instagram.com/thomashirchakcoauctions/

Youtube 👉 https://www.youtube.com/channel/UCb9hVKyHcdvlavyhMUkAPCQ

TikTok 👉 https://www.tiktok.com/@thomashirchakcompany

💼 Looking to Sell?

Thinking about selling equipment, vehicles, real estate, or commercial assets?

Learn how our structured auction process works:

👉 https://www.thcauction.com/sell-with-thomas-hirchak

🏷 Browse Upcoming Auctions

View our current and upcoming live, simulcast, and online auctions here:

👉 https://www.thcauction.com/auctions

📞 Have Questions?

Call us at: 802-888-4662

Or Email us at: info@thcauction.com

✍️ About The Author

The Thomas Hirchak Company is a Vermont-based auction and real estate firm serving buyers and sellers throughout New England and beyond. With decades of experience conducting live real estate auctions, simulcast public auto auctions, and online equipment and commercial asset auctions, THCo. combines strategic marketing with competitive bidding to deliver results.

Learn more about our services or explore upcoming auctions at:  https://www.thcauction.com