LAMA BLOG

Getting Ready for the February 23, 2014 Auction

February 22, 2014

LAMA-Auction-February23-2014

Here are some helpful tips to prepare you for tomorrow’s auction.

Auction Date:
Sunday, February 23, 2014

Auction starts promptly at:
12:00 Noon (Pacific Time)

Auction is held at:
16145 Hart Street
Van Nuys, CA 91406

Although all phone/absentee bids were due by:
Saturday, February 22nd at 5 p.m. (Pacific Time), we will try our best to accommodate your absentee bids.

Doors to the auction house open to last-minute previewers at:
11 a.m., Sunday, February 23, 2014 (16145 Hart Street Van Nuys, CA 91406)

Buyer’s premium for in-person/phone/absentee bidders:

The standard Buyer’s Premium is:

  • 25% on the hammer price up to and including $500,000 if the bids are placed directly with Modern Auctions, Inc.
  • 15% on the portion of the hammer price in excess of $500,000 if bids are placed directly with Modern Auctions, Inc.

 

Buyer’s Premium Discount**

  • 22.5% on the hammer price up to and including $500,000 if the bids are placed directly with Modern Auctions, Inc., AND if payment by cash, check or bank wire is received in full by March 5, 2014.
  • 12.5% on the portion of the hammer price in excess of $500,000 if bids are placed directly with Modern Auctions, Inc., AND if payment by cash, check or bank wire is received in full by March 5, 2014.

 

**The buyer’s premium will not be discounted for internet bidding (28%), if payment is made by credit card, or if full payment is not received by March 5, 2014.  Please note: Credit card payments are accepted only when presented in person and will not be accepted over the phone, fax, or e-mail.

Buyer’s premium for all online bids placed on Live Auctioneers:
28% and cannot be reduced.

Registration for in-person bidding:
You must bring your driver’s license and a valid Visa or Mastercard. We ask for the credit card information as a formal agreement; we do not charge your card.

People ask, “How many lots do you get through in one hour?”
About 75 lots per hour.

Can you watch the auction happening live online?
Yes, you can. Please go to www.lamodern.com to watch the live bidding online through Live Auctioneers. You do NOT need to register for a username to simply watch the live bidding online.

How and where do I park at your auction?
We offer complimentary valet parking.

Will you be offering food and beverages during the auction?
Yes, The Hurricane Kitchen will be serving lunch, and beverages will be provided as well.

What do I do if I was a successful phone or absentee bidder?
A LAMA representative will be calling you no later than Tuesday, February 25th to go over your invoice, as well as payment and shipping details.

When can I pick up the lots I won if I am a successful bidder?
Monday – Friday; 9 a.m. – 5 p.m.

Good luck to all bidders!

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