Commonly Asked Questions
(INFO, BUYER, SELLER)
If you need an answer to a question that is not listed on this website, please give us a call, email, or direct message on Facebook (link to our FB below.) We are an honest, family-owned business. We will gladly take time out of our schedule to answer any questions that you might have about our company, services, and business procedures.
If you’ve got questions, we have the answers!
(918) 494-5790
(918) 695 9901
For a faster response send us a direct message on social media or an email on the contact page.
Hours of operation:
Monday-Wednesday by appointment 8:00A-3P
Thursday 10:30A-5P (on auction days 10:30A-10P)
Friday 10:30A-5P
Closed on Saturday and Sunday
Where are you located?
We are located in Tulsa, Oklahoma at 1507 E. 71st St.. This address is directly on 71st Street between Lewis and Riverside (we are on the north side of the road). To our East is a Law Office, and to our West is Rivergate Church. You can't miss our building! There are 2 large black signs out front that read "Southside Auction" as well as a massive bronze horse!
Who conducts your auctions?
Daniel Glossop is our primary auctioneer, our company Vice President and one of the original members of the founding family. Daniel is a respected member of the Tulsa community and a recognized figure in the Oklahoma auction community. Our company regularly employees other experienced auctioneers who help relieve Dan during the course of an auction (most auctions run 4 hours.) Real estate auctions are conducted by licensed sales associates with Smith and Smith, Realtors (Jim Smith, Owner/Broker.) We have a collective total of 80+ years of experience, and up to date with the current fair market value.BUYING/ATTENDING AN AUCTION
What does it cost to attend one of your auctions?
ABSOLUTELY NOTHING! There are no charges to attend our sale! You can come to bid and buy or you can come to watch Dan Glossop and our other auctioneers in action!Do you charge a buyer’s premium at your auctions? / What is a buyers premium?
YES. Generally, our buyer's premium is currently 10%. A Buyer's Premium is a charge attached to every purchase that one makes at public auction. The buyer's premium helps us pay for our operating expenses: labor, advertising, fuel, house expenses, etc. The auction business is not a cheap business to be in. The overhead costs of doing business are HUGE! Large auction houses charge anywhere from 15%-35% or more; therefore, 10% is a very low buyer's premium.Do you accept absentee bids?
We do accept absentee bids starting at $100. You must secure your absentee bid with Visa/Mastercard information. Please call us for more details about placing absentee bids: (918) 494-5790 / (918) 695-9901What forms of payment do you accept?
Our company accepts Cash, Instate personal Checks, Cashier's Checks, Money Orders, Wired Transfers, & All major Credit/Debit Cards. We accept Visa, Mastercard, American Express & Discover. *Checks must clear before removal of merchandise, new customers.
Do you accept returns on items?UNLESS STATED BY THE AUCTIONEER, NO. All items sold at auction are sold in "As Is" condition and all sales are final and non-negotiable. It is the customer's responsibility to inspect items and determine values. Once the auctioneer's gavel falls and the word "Sold" is uttered, the item is yours.
What do I need to do to attend an auction?When you arrive fill out an information card at the front office. Attached to the information card will be your bid #, detach the information card and drop it in the office window. After bidding on items you will checkout at the office. Upon checking out you will receive your items by showing the sales receipt(s) (pink tickets) to one of the employees. You have the option to load your items the night of the sale, or we ask that you make arrangements within 5 business days. If you wish to load your items the night of the sale, please let one of the guys in the back know so they can set your purchases aside for easy loading access. Items left past that period (7 days) will be considered abandoned. We have a loading dock at the North side (back) of the building, to access you drive around via the West side of the building. Or if you have a small item it maybe in the showcase or you can walk up the ramp/stairs to the backroom to collect your purchase(s.)
SELLER/CONSIGNMENTS
It is the consignor's responsibility to check on your proceeds (if not chosen to have a check mailed upon completion,) checks not picked up after 6 months will be considered abandoned. Please understand if you do not choose to have your check posted, we can have 50 separate consignments in one auction.
I want to sell my estate at the auction, what steps do I need to take?
We ask that you send us some general photos by: email (auction918@gmail.com,) text (918-695-9901,) or Facebook messenger (our Facebook link is located at the bottom of the page.) If you are unable to send photos we will talk to you about your estate over the phone. If our schedule allows we can make an appointment to preview your estate.
What does it cost to sell items at auction?
CONSIGNMENT PERCENTAGE/FEES
Most items sold at the auction are sold as consignments. Our company operates on a commission basis. This means that our company will take a small portion of the final sale price for all consigned items sold at auction.
Here is a summarization of our basic rates:
25% COMMISSION: You bring the items for consignment to us and we sell them at public auction. If the items bring above $25.00, the consignor will receive 75% of the final sale price. All consigned items selling below $25.00 will be charged a commission rate of 50%.
35% COMMISSION RATE: We pick up the items for consignment and sell them at public auction.
All consigned items selling below $25.00 will be charged a commission rate of 50%. This rule applies to all sales including items sold online. We charge a fuel charge for estates picked up 10 miles away from the auction, for example if you are 12 miles away we may charge $15.
Please understand the extra 10% helps us pay our time, labor, truck usage, and fuel.
*There will be an extra fees for upstairs/basement moves ($25-100.)
* * Vehicles are typically sold at a lesser commission rate (over $10k 15%)
* * Real Estate is sold in accordance with the rules and regulations of the Oklahoma Real Estate Commission and our broker, Jim Smith. Please consult the "Real Estate Auctions" section of our website to learn more about our real estate auctions. For a copy of our consignment contract, please E-mail or fax us you name, address, telephone number and/or fax number. We can fax, E-mail or mail you a copy of our pickup, drop-off and Ebay contracts. Our contracts have a more detailed description of our terms of business. These advertised commission rates are what we generally charge the consignor for selling items at our auction house in Tulsa, Oklahoma. If you have any questions about this commission rate, please give us a call/email! If you have been shopping around to see what company has the best services, commission rates, etc., let us know what you've learned! We may be able to offer you a lesser commission rate or additional services that would better suit your needs! We Work for the Consignor!
***POSTAGE if you would like your check mailed upon completion we will charge postage to post your tickets and check.
We can either issue a check by mail upon completion, or the consignor can pick-up a check anytime 2 weeks after the auction. Consignor's are responsible for checking on proceeds (if they do not choose the mail upon completion method.) Consignments left over 6 months will be considered abandoned.
What types of items can you sell?
Our company sells everything from the ordinary to the extraordinary! We are also licensed to sell Real Estate (via our broker, Smith and Smith, Realtors) & Firearms (we do not currently have an active FFL, however accessories and antique firearms we can sell.) If you wish to consign items for sale at our auctions, please call in advance.Collecting: Please stop by per appointment, call, text, email, or DM on the following Wednesday of the auction to check on your consignment. Please note: we do not pay out on Thursday’s, due to the auction. If you wish to collect on a Thursday please contact us earlier in the week.
The consignor can pick up a check from the auction house or we can mail a check and your sales tickets. ***POSTAGE if you would like your check mailed upon completion we will charge postage to post your tickets and check. Consignments left over 18months will be considered abandoned.
Do you accept reserves on consigned items?
If you have an item of significant value consigned to sell at auction and wish to discuss the option of placing a reserve price on the item, please call us.How do you determine values and starting bids?
After 50+ years in this business, the auctioneer can usually guesstimate the average sale price of the items we sell. The auctioneer's opening bids are based on past sales; however, when all is said and done, the bidders determine the value. As a courtesy to our customers, we start the bidding high and work our way down until someone likes the price.Do you advertise your auctions?
YES! Our primary means of advertising is through ads in newspapers, social media, website, etc. Our E-mail list covers several thousand repeat customers.
Do you offer safe and secure storage prior to your auctions?
YES! Our company is fully licensed and insured. Our auction house is also equipped with a sophisticated anti-theft system (indoor and outdoor surveillance) and several commercial grade safes. The Southwest Tulsa Police Station is located only minutes away from our location (in the event our alarm is activated, the police are usually onsite within 2-3 minutes or less!). Consignments of jewelry, coins and other fine valuables are usually re-located to our bank's vault prior to the date of sale. If additional staff security is needed onsite or here at our auction house, we can always make arrangements! You don't have to worry about theft or a lack of security when you use our company!
Need Directions? If so, click the link below.
Southside Auction Co., Inc.
1507 E. 71st ST.
Tulsa, OK 74136
(918) 494-5790 Office (918) 695-9901 Text/Call