Are auctioneers licensed and bonded?
In Pennsylvania all auctioneers are required to be licensed and bonded by the state. In addition, Alderfer auctioneers are involved in continuing education classes and have been awarded several certifications. Our auctioneers are also members of the National Auctioneers Association, Pennsylvania Auctioneers Association, and the Lehigh Valley Society of Auctioneers. Q: What is a Buyer’s Premium? A: A Buyer’s Premium is a percentage of the high bid that’s added to the high bid to establish the final sale price. Q: What is the difference between an “absolute” and a “reserve” auction? A: An absolute auction means the property is sold to the highest bidder, regardless of price. A reserve auction (sometimes referred to as an auction “subject to confirmation”) means the seller reserves the right to accept or reject the highest bid.
