FREQUENTLY ASKED QUESTIONS (FAQs)

Buying and Selling with Thomas Hirchak Company

What are your business hours?
Business Hours are 8AM to 5PM Monday-Friday (Morrisville, VT Headquarters)

Public Auto Auction:
8AM-5PM M-Th
8AM-3PM on Fridays, and 7:30AM - 2:00PM on Saturdays (during the auto auction)
Williston, VT
How do I register for an auction?
Auction registration depends on auction type.

Real Estate: Register & inspect on site from 1 hour prior to auction start time.
Auto Auction: Register & inspect on site from 7:30AM on day of sale if bidding on site. Register online at any point prior to the auction. $500 deposit required.
Online Auctions: Register online at any point prior to the auction.
Live Auctions: Register & inspect on site from 1 hour prior to sale bidding on site. Register online at any point prior to the auction.
What type of payment methods do you accept?
Acceptable Payment Types:

Commercial: Credit Card, Approved Checks, Wire, Cash.
NOTE: Please be aware that your credit card on file will be charged immediately following the auction unless you notify us beforehand of an alternative payment method. If you prefer to use a different form of payment, kindly contact us at 802-888-4662 prior to the auction's conclusion to make the necessary arrangements.

Auto: Credit Card, Debit (onsite only), Cash, Wire.

Real Estate: Deposit for Auction - Wire, Bank Check, Cash. Other payment will be through closing.
Auction Type Differences
What is the difference between a "Timed Auction", "Simulcast", and "Live" Auction?

Timed Auctions: Auctions are online only where bidding occurs. Lots will close in order of Lot #.
Simulcast: Bid online or bid in person. Timed Auction with online bidders and live auctioneer.
Live: Not online; live auctioneer and bidding is done in person.
Do I need to be online until the auction closes?

You do not need to be online until the auction closes for "Timed or Simulcast Auctions". The platform that we utlize allows you to set a maximum bid, so if other bids are tendered the system will automatically increase your bid to the maximum. If the item is won for less than your maximum you will purchase the lot for that amount and not your maximum bid.

You will be notified by the platform if your max bid is exceeded, but we caution bidders not to rely upon these notifications as they can be delayed due to technology. You do have to be onsite for live auctions.
I have assets that I would like to auction, what do I do?
GET IN TOUCH WITH US!

Email us at info@thcauction.com or call us 800-634-7653.

We are currently seeking the following items:

Firearmans and Sporting Goods
Heavy Construction Equipment
Trucks, Trailers, Automobiles, Boats, Campers, UTVs and ATVs
Tractors and Farm Equipment
Classic and Collectors Cars
Coins and Currency
Jewelry and Watches
Musical Instruments
Fine Art
Antique Toys
Business Liquidations
Buying from a THC Auction
a. Do your homework:

i. New Lots uploaded daily, Monday thru Friday.

ii. Lot is open to the public for viewing Monday thru Friday 8-4.

iii. Vehicles can be started, moved forward 1 car length and back into its original position.

iv. A few items that are NOT allowed in the lot

1. Power tools

2. Hand Tools

3. Backpacks

4. Large bags

5. Pets

6. Children under the age of 16 without an adult present

b. Pre Bid

i. If you are not able to attend the auction live, we offer a PRE BID service through Proxibid.

ii. Register your account on Proxibid website (access through the auction on our website)

iii. Log in and select the lot you are interested in.

iv. You will have the option to either place a 1 time bid or set a max bid you are willing to bid and the system will bid on your behalf up to that amount.

v. PLEASE NOTE:

1. The auctioneer has final say if a lot is sold or passed regardless of reserve. If you are the high bidder when the auctioneer says SOLD, you won the lot.

c. Online bidding

i. Once registered with Proxibid you can login and attend the auction LIVE on auction day.

ii. Bidding is in real time and all bidding terms and

conditions apply.

iii. We strongly recommend that you not listen to the “live” audio as it is delayed. The onscreen prompts and updates are in real time.

iv. If you win a lot, your card on file with Proxibid will be charged 25% immediately following the auction.

d. In Person Bidding

i. Our doors open at 7:30am EST on auction day.

ii. The auction starts at 9:00am EST.

iii. Registration is completed in the main lobby.

iv. Once registered you will receive a green bidder card to use for bidding.

v. To bid, raise your bidder card in the air so the auctioneer can see you.

vi. If the auctioneer looks back and you and points to you, you have been outbid and need to raise the card again if you wish to raise the bid.

vii. WINNER! Once you win the bid, approach the deposit counter and sign the lot ticket as well as submit your 25% deposit.

viii. Notes

1. Be sure to find a spot where the auctioneer can see you.

2. Don’t be shy! Raise that card high to ensure the

auctioneer can see it in the crowd.

3. Pay attention to the auctioneer. Bidding can move fast.

e. Payment

i. 25% deposit is due immediately. Once the auctioneer says “SOLD” you must approach the deposit counter and complete the process.

ii. The full balance is due by end of day the Tuesday following the auction.

iii. Please note:

1. Credit Card payments will be assessed an additional 3% credit card fee.

2. Debit Card payments will be assessed an additional $1 debit card fee

f. Vehicle Removal / Storage

i. All won vehicles are required to be off THC property by end of day Thursday following the auction.

ii. Vehicles left on THC property after Thursday will be assessed a storage fee of $20 per day.

iii. Any vehicle left within the fence must have the keys left with THC until pick-up in arranged.

Public Auto Auctions - FAQs

What are your business hours?

Business Hours are 8:00 am to 5:00 pm M-F
What type of payment methods do you accept?

Acceptable Payment Types:

Commercial:
Credit Card, Wire, Cash, Approved Checks.

Auto:
Credit Card, Debit (onsite only), Cash, Wire

Real Estate:
Deposit for Auction - Wire, Bank Check, Cash
Other payment will be through closing
Auction Differences

What is the differnce between a "Timed Auction", "Simulcast", and "Live"?

Timed Auctions: Auctions are online and bidding occurs and lots will close in order of Lot #

Simulcast: Timed Auction with on-site bidders and live auctioneer.

Live: No Online; live auctioneer and bidding is done in person.
Do I Need to be Online Until the Auction Closes?

You do not need to be online until the auction closes for "Timed or Simulcast Auctions". The platform that we utlize allows you to set a maximum bid, so if other bids are tendered the system will automatically increase your bid to the maximum. If the item is won for less than your maximum you will purchase the lot for that amound and not your maximum bid.

You will be notified by the platform if your max bid is exceeded, but we caution bidders not to rely upon these notifications as they can be delayed due to technology. You do have to be onsite for live auctions.
Buying from a THC Auction

a. Do your homework:

i. New Lots uploaded daily, Monday thru Friday.
ii. Lot is open to the public for viewing Monday thru Friday 8-4.
iii. Vehicles can be started, moved forward 1 car length and back into its original position.
iv. A few items that are NOT allowed in the lot
1. Power tools
2. Hand Tools
3. Backpacks
4. Large bags
5. Pets
6. Children under the age of 16 without an adult present

b. Pre Bid
i. If you are not able to attend the auction live, we offer a PRE BID service through Proxibid.
ii. Register your account on Proxibid website (access through the auction on our website)
iii. Log in and select the lot you are interested in.
iv. You will have the option to either place a 1 time bid or set a max bid you are willing to bid and the system will bid on your behalf up to that amount.
v. PLEASE NOTE:
1. The auctioneer has final say if a lot is sold or passed regardless of reserve. If you are the high bidder when the auctioneer says SOLD, you won the lot.

c. Online bidding
i. Once registered with Proxibid you can login and attend the auction LIVE on auction day.
ii. Bidding is in real time and all bidding terms and
conditions apply.
iii. We strongly recommend that you not listen to the “live” audio as it is delayed. The onscreen prompts and updates are in real time.
iv. If you win a lot, your card on file with Proxibid will be charged 25% immediately following the auction.

d. In Person Bidding
i. Our doors open at 7:30am EST on auction day.
ii. The auction starts at 9:00am EST.
iii. Registration is completed in the main lobby.
iv. Once registered you will receive a green bidder card to use for bidding.
v. To bid, raise your bidder card in the air so the auctioneer can see you.
vi. If the auctioneer looks back and you and points to you, you have been outbid and need to raise the card again if you wish to raise the bid.
vii. WINNER! Once you win the bid, approach the deposit counter and sign the lot ticket as well as submit your 25% deposit.
viii. Notes
1. Be sure to find a spot where the auctioneer can see you.
2. Don’t be shy! Raise that card high to ensure the
auctioneer can see it in the crowd.
3. Pay attention to the auctioneer. Bidding can move fast.

e. Payment
i. 25% deposit is due immediately. Once the auctioneer says “SOLD” you must approach the deposit counter and complete the process.
ii. The full balance is due by end of day the Tuesday following the auction.
iii. Please note:
1. Credit Card payments will be assessed an additional 3% credit card fee.
2. Debit Card payments will be assessed an additional $1 debit card fee
f. Vehicle Removal / Storage
i. All won vehicles are required to be off THC property by end of day Thursday following the auction.
ii. Vehicles left on THC property after Thursday will be assessed a storage fee of $20 per day.
iii. Any vehicle left within the fence must have the keys left with THC until pick-up in arranged.
Selling With THC

a. Prepare your car
i. Clean it – Clean cars show you cared for the vehicle and allows the bidders to see its true condition.
ii. Gather paperwork – Bring us the title and/or prior Vermont registration card. See title requirements*
iii. Set reserve
1. Do our research
a. Online platforms can provide estimated market values (NADA, KBB, etc)

b. Be reasonable

c. Drop off your car
i. Drop off anytime without appointment
ii. Night time drop box option
iii. Send your tow truck to us
iv. Drive it to us
v. Get it to THC early
1. The longer the vehicle is here, the more it gets advertised.

d. Drop off process
i. When should I bring my vehicle?
1. The earlier the better! The long the vehicle sits in ourlot, the more attention it will receive from potential bidders. We also list the lots online for internet bidders to find.
ii. Vehicle drop off deadline is 5:00pm EST Thursday before auction.

e. Post-auction
i. Sold – you get paid the following Wednesday
ii. Unsold – Rerun the next week or pick up vehicle
Auto Auction Light Code

a. What are the Auto Auction “Light Codes”?
i. LIGHT CODE HANDOUT
ii. Important notes about Light Code
1. THC does not inspect any vehicles that are in the
auction.
2. Green light only covers the Engine, Transmission, and Transfer Case as well as the FRAME for rust.
3. Red Light is strictly AS-IS, WHERE-IS.
a. Redlight may not run (we will list in description if the vehicle arrived not running)

b. Redlight may not be safe for the road.

c. BE SURE TO LOOK AT RED LIGHT VEHICLES PRIOR TO BIDDING. DO NOT ASSUME ANYTHING.
Who Can Buy?

a. Anyone over the age of 18 with a valid ID can buy or sell from THC Public Auto Auctions
Fees
2025 Pricing:

Buyer
- Up to $999.99 = $100 Buyers Premium
- $1,000 to $14,999 = 10% Buyers Premium
- $15,000 and up = $1,500 Buyers Premium
Seller
- $55 entry fee
- $1 to $999.99 = $100 Sellers Premium
- $1000 to $2,999.99 = 10% Sellers Premium
- $3,000 and up = $300 Sellers Premium
Explanation of New Fees at Our Auto Auction
When should I bring my vehicle?

a. The earlier the better! The long the vehicle sits in our lot, the more attention it will receive from potential bidders. We also list the lots online for internet bidders to find.
b. Vehicle drop off deadline is 1:00pm EST the day before auction.
Required Documents

a. Title – Any vehicle of year 2010 or newer is required to have a title in Vermont.
i. Make sure the title is in your name.
ii. ALL names on the title need to be listed and sig the consignment order.
iii. DO NOT FILL OUT TITLE.
1. THC will fill out the tile when the vehicle sells.

b. Prior Vermont Registration
i. If your vehicle is year 2009 or older, your Vermont registration can be used in place of a title.
ii. This allows you to sell to buyer from other states where a title is required for registration.

c. Consignment Order
i. Link to CO
ii. This must be signed by ALL sellers on the title.
iii. Make sure the information is accurate, current and legible.

Real Estate Auction FAQs

What is a real estate auction?
A real estate auction is a public sale where properties are sold to the highest bidder. This method accelerates the selling process and often results in a sale at fair market value.
Why choose to sell my property at auction?
Auctions create a sense of urgency and competition among buyers, often leading to quicker sales and potentially higher prices. They also provide a transparent process with a set sale date.
Are auctions only for distressed properties or foreclosures?
No, this is a common misconception. Auctions are used to sell various types of properties, including luxury homes, commercial real estate, and land. They are a strategic selling method, not limited to distressed properties.
What types of properties can be sold at auction?
Virtually any type of real estate can be sold at auction, including residential homes, commercial buildings, land, and investment properties.
How does the auction process work?
The auction process involves marketing the property, conducting open houses or inspections, and then holding the auction on a specified date where registered bidders compete to purchase the property.
What are the benefits of selling my property at auction?
Selling at auction offers benefits such as a predetermined sale date, reduced holding costs, and the potential for competitive bidding to drive up the sale price.
Will I have to accept any bid at the auction?
Not necessarily. Many auctions are conducted with a reserve price, meaning the property will only sell if bidding reaches a predetermined minimum.
What are my responsibilities as a seller in the auction process?
As a seller, you'll need to provide necessary property information, allow access for inspections, and work with the auction company to set terms and marketing strategies.
What happens if the property doesn't meet the reserve price?
If the bidding doesn't reach the reserve price, the seller may choose not to sell the property. In some cases, negotiations may occur after the auction.
How is the closing process handled after the auction?
The closing process is similar to traditional real estate transactions, involving title searches, financing arrangements, and the transfer of ownership, typically within a specified timeframe.
What is the difference between an absolute auction and a reserve auction?
In an absolute auction, the property sells to the highest bidder regardless of price. In a reserve auction, the seller sets a minimum price they are willing to accept.
What does "subject to seller confirmation" mean?
This means that the highest bid is subject to the seller's approval, and the seller has a set period to accept or reject the bid after the auction.
How do I register to bid at an auction?
Registration processes can vary, but generally, you'll need to provide identification and, in some cases, a deposit to participate.
Can I inspect the property before the auction?
Yes, properties are typically available for inspection during scheduled open houses or by appointment before the auction date.
What is a buyer's premium?
A buyer's premium is an additional fee, usually a percentage of the winning bid, added to the final purchase price to cover auction costs.
What are the payment terms if I win the auction?
Payment terms vary but often require a deposit on the day of the auction with the balance due at closing, typically within 30-60 days.
Is financing allowed, or do I need to pay cash?
While some auctions may require cash payments, others allow financing. It's essential to determine this before the auction and have financing pre-arranged if permitted.
What does "as is, where is" mean?
This term indicates that the property is being sold in its current condition without any warranties or guarantees, and the buyer accepts the property with all its faults.
Are there any additional fees I should be aware of?
In addition to the buyer's premium, buyers may be responsible for closing costs, transfer taxes, and other fees. It's important to review all terms before bidding.
Can I use a real estate agent when buying at auction?
Yes, buyers can engage a real estate agent to assist them through the auction process. Some auctions offer commissions to agents representing buyers.

Note: The information provided here is for general guidance. Specific auction terms and conditions may vary. Always review the auction's terms and consult with the auction company or a real estate professional for detailed information.