Are you handling a loved one's estate? Downsizing for retirement? An estate / liqiuidation auction is the easiest way to sell your stuff for fair market value. You don't have to own a houseful of antiques to have a successful estate auction. Good used furniture, household goods, tools, collectibles - your belongings are worth money!
We also handle inventory liquidation auctions for governmental entities: school board, parish, police jury, town, etc.
Call us at 318-704-5044 for a free and confidential consultation.
Business & Government Liquidation Auctions. Whether you are going out of business, cleaning out your warehouse, or just need to liquidate some inventory, we can help.
Estate Auction vs. Tag Sale. Which is better, an auction or a tag sale (aka estate sale)? It depends! Find out more here.
RiverTown Auction is owned and operated by Tom Sexton who is licensed and bonded in the State of Louisiana, license #1911. We charge a 10% Buyers Premium.
Following is a sample contract similar to one we will create to sell your estate or surplus property. Every contract is different, depending on the circumstances, but this sample will give you an idea of what to expect when you consign your property to RiverTown for auction.
4314 York St.
Ball, LA 71405
Thomas Sexton, Auctioneer
Agreement for Sale of Property by Auction
Agreement made this _______ day of ______________, 2017 between ________________________ hereinafter called “The SELLER” and RiverTown Auction, Thomas Sexton Auctioneer, hereinafter called “The AUCTIONEER”.
1. The SELLER hereby employs the auctioneer to sell at public auction to the highest bidder, without limits or reserves, the following property, hereinafter referred to as “PROPERTY”.
2. PROPERTY consists of items designated as [household goods, surplus, salvage] by the SELLER.
3. The date of the auction shall be mutually agreed upon by the SELLER and the AUCTIONEER, but shall be no less than 30 days after signing of this agreement.
4. The auction will be held at the following designated location(s):
LOCATION #1: _________________________________________
the SELLER nor the AUCTIONEER shall provide any guarantee regarding the
condition of the PROPERTY. All PROPERTY will be sold “as is”.
signing of this agreement, no portion of PROPERTY shall be sold, given away
or otherwise removed from the premises prior to the auction.
signing of this agreement, the SELLER shall place the AUCTIONEER in
possession of all property to be auctioned.
8. The AUCTIONEER shall provide the following auction services, at his expense:
a. Licensed and bonded auction service (licensed in State of Louisiana).
b. Service of AUCTIONEER’s ring men.
c. Complete clerking service (recording of bids, high bid amount, quantity, etc.)
d. Collection and remittance of all applicable sales tax as required by law.
e. Personnel for registration of bidders.
f. Personnel for collection of proceeds of sale.
g. Complete accounting of the auction.
h. Notification of the auction to AUCTIONEER’s list of previous auction bidders.
of the auction in local newspaper, on various auction websites, social media
sites, and the AUCTIONEER’s website.
AUCTIONEER shall photograph, inventory, label, stage and otherwise prepare
PROPERTY for sale. The AUCTIONEER shall have reasonable access to the
premises and PROPERTY prior to the date of the auction, for the purpose of
performing these tasks.
10. The AUCTIONEER shall produce a list of
items or lots of items to be sold. A copy of this list shall be provided to
the SELLER one week prior to the auction date.
11. If the SELLER requires a reserve bid
(a minimum bid amount below which the item cannot be sold) on any item, the
SELLER shall provide a list (reserve items and their corresponding reserve
amounts) to the AUCTIONEER one week prior to the auction date.
12. Except for reserve items, items will
be sold to the highest bidder with no reserve. The AUCTIONEER shall call the
high bid and bidder, and his decision is final.
13. If any PROPERTY requires an
unencumbered Louisiana Certificate of Title or other documentation for the
legal transfer of ownership, the SELLER shall provide such documentation to
the AUCTIONEER one week prior to the auction date. The SELLER shall also
provide notary services on the day of the auction if required for transfer of
ownership of sold PROPERTY.
14. The SELLER bears the risk of loss by
fire, theft or other means and accepts sole responsibility for obtaining
insurance coverage on all PROPERTY owned by the SELLER. Ownership of PROPERTY
(and responsibility thereof) transfers to the buyer immediately upon
declaration of a winning bid.
15. As a condition of purchase the
AUCTIONEER will require that the Buyer remove his purchases from the premises
by the end of the business day of the auction, unless other arrangements are
made between the BUYER and the SELLER.
16. The SELLER assumes liability for any
personal injury which may occur on the premises.
17. The SELLER certifies that all items to
be auctioned are the property of the SELLER and the SELLER has legal right to
18. The AUCTIONEER is hereby authorized to
accept, as the SELLER’s agent, cash, credit cards or checks made
payable to RiverTown Auctions. The AUCTIONEER shall
deposit the entire proceeds received from the auction into the
AUCTIONEER’s escrow account. Within 15 business days following
completion of the auction, providing all checks and credit charges received
in payment of purchases have been paid or cleared by the bank, the AUCTIONEER
shall give to the SELLER a complete accounting and reconciliation showing the
items or lots sold, the AUCTIONEER’s commission, and payment of the
balance of proceeds due the SELLER.
19. The AUCTIONEER shall be entitled to a
commission on gross sales. The AUCTIONEER shall deduct from the proceeds of
the sale all commissions due him under the terms of this agreement.
20. SELLER may terminate this Agreement in
whole or in part, whenever the SELLER determines that such termination is in
the best interest of the SELLER, upon 30 days written notice.
21. AUCTIONEER may terminate this
Agreement in whole or in part, whenever the AUCTIONEER determines that such
termination is in the best interest of the AUCTIONEER, upon 30 days written
22. It is mutually agreed by the AUCTIONEER and SELLER that this agreement shall be binding upon administrators, assigns and successors in interest.
The SELLER and the AUCTIONEER execute this agreement on the dates set below their respective signatures.