The Nation's Leading Auction House for Firearms, Edged Weapons, & Military Artifacts

Top 25 Frequently Asked Questions about Auctions/Bidding with Rock Island Auction Co. (RIAC)

When you submit your bids on Rock Island Auction's website you know exactly how much you bid because you entered the amount yourself and you will receive an email confirmation showing your bid amounts. This is the most popular way of bidding if you cannot attend. You can view the status of your bids on our website when you log into your account. You can view the 'Current Bids' link once you log in. Bidding absentee is a very convenient way of finding that special piece you have been searching for. It is actually very easy and allows you to save the cost of travel. If you have further questions simply call us at 309-797-1500. This is our most popular form of bidding when you cannot attend. Its easy to create a web account your data is secure, the web form has 128 bit encryption.

1. How do I register to bid?
Registration is simple. To register to bid at RIAC we require basic contact information and a credit card to run for authorization. This can be provided on our web site when you submit your bids, or over the phone, or by fax using the form for bidding. We will not charge your card after the auction unless payment arrangements have not been made within 15 days, or you approve it as your payment method.
 
2. What are my options for bidding?
You can bid when attending the RIAC auctions by registering in our office and picking up a bidder number. If you are not able to attend the auction you can absentee bid using our sealed (absentee) bids, telephone bids, or online bidding systems. There is also Live Online bidding available from third party sites at a 2% premium. All bidders must be properly registered at RIAC. CREATE ACCOUNT NOW. If you prefer to fax in your bids you can download a bid form.

Send your bids in the US Mail:

Rock Island Auction Company
7819 42nd Street West, Rock Island, IL 61201 

 

Need further assistance or have questions about the form? Or if you just want to give your bids over the phone;
call us at 1-800-238-8022.

3. How much is the buyer’s Premium?
The buyer’s Premium is 17.5% for credit card, reduced to 15% if purchase is paid for by cash or check. There is a 2% increase in the buyer’s Premium for using the outside services of iCollector or Proxibid. This means that if you bid on iCollector or Proxibid the buyer's Premium is 19.5% for credit card and reduced to 17% if purchase is paid for by cash or check.
 
4. Do I pay taxes on the lot?
In most cases no. However if the item is being consigned in state by an Illinois reseller and being sold in state (i.e. to a live bidder, or being shipped to an in-state address) then taxes do apply. All other cases there is no sales tax. The week of the auction we have a list of the lots that are taxable, just contact us for the list.

5. How will I know if I win a lot? 
At the conclusion of the auction notifications are sent out via email with preliminary results. You can also view lots won if you have a website account. In the days after the auction each winning bidder will have the invoice calculated including any packing and shipping charges, and Tax if applicable. If we do not contact you via the website email or fax, we will call you on the phone to make arrangements.

6. I do not have an FFL (Federal Firearms License). Can I bid on Firearms?
Yes. We do not restrict bidding. If you bid on items that are antique we can release the firearms to you or ship directly to you. If you are bidding on an item that is manufactured after 1898 and do not hold an FFL we would have you fill out the standard ATF form 4473 if you live within Illinois. If you live within a contiguous state of Illinois, (i.e. Iowa, Missouri, Kentucky, Indiana, or Michigan) and are purchasing a long gun we would also have you fill out the “yellow form” and wait the required period. Handguns must be shipped to an FFL dealer for these states, we can help you find one if you do not use one currently. If you live outside this area or do not fill out the ATF form 4473 we will ship to an FFL licensed dealer of your choice and they will transfer the gun to you. Be sure to check your state requirements on firearm ownership before placing a bid. If you have any questions about the ATF form 4473 or regulations on transferring firearms please contact us.
 
7. I live outside the US. Can I bid?
Yes. We are excited to have a growing number of bidders in the international community. Please make sure that you contact your local government to discuss regulations regarding firearm ownership and discuss shipping with customs in regards to getting firearms into the country.
 
8. Can I bid through Proxibid, iCollector and RIAC?
Please be advised that being registered through our various programs (ie. Proxibid, iCollector, and Rock Island Sealed bids) has caused issues in the past for some individuals bidding in all 3 locations. If we currently have sealed bids entered in our system for a certain Lot you would not want to bid on that lot through another service unless you know we are way above the bid you left with RIAC. If you have any questions regarding the different forms of bidding, or have any questions about how they are performed on the auction floor, please do not hesitate to contact us. (Using either Proxibid or iCollector are the only ways to bid online LIVE.) SEARCH CATALOG NOW 

HELP with LIVE Bidding via the Internet
In order to bring the auction to you live Rock Island Auction Company employs the outside services of Proxibid and iCollector. Clients may go onto www.proxibid.com and/or www.icollector.com and find our catalog by searching "rockislandauction" in the search field.  You can also bid LIVE through these sites as they provide representatives to run a console directly on the auction floor while the auction takes place. If you experience any problems while using the Proxibid service please call 1-877-505-7770.  Non-urgent questions can be emailed to info@proxibid.com.  If you experience any problems while using the iCollector service please call 1-866-313-0123. Non-urgent questions can be emailed to support@icollector.com. This includes changes or cancellations to your bids. Rock Island Auction Company cannot fix web site problems with either of these services you must contact them directly.

  
9. What is a Sealed or Absentee bid?
A sealed bid is an amount you give to us authorizing us to bid on your behalf at auction for a specific lot. These can be placed online using your RIAC web account, mailed in, phoned in, or faxed in to us. For example; if you bid $1,000 on a particular lot. We will exercise your bid for you against the other bidders during the auction. We will attempt to win the item for you at the lowest amount possible. If another bidder stopped bidding at $850, you will win the lot at $900. Download the Absentee Bid Form
 
10. How do I telephone bid?
Telephone bids can be set up the same way you set up a sealed bid on our website. For a telephone bid you tell us which lots you would like to bid on. You will be called by a representative during the auction and bid live via phone. We do suggest leaving “Cover-Me Bids” in case you are not able to be reached by telephone. In order to bid on a lot over the telephone at or near the time it is being sold during the auction. You must contact us in advance to make arrangements. Generally if you contact us by 2 p.m. the day preceding the sale we will have time to process your information. Bids received later than this date risk being not executed.
 
11. What forms of online bidding are available?
Through our website you can place sealed and telephone bids. You can also bid LIVE during the auction using the outside services of Proxibid and iCollector. There is an additional 2% buyer’s premium for using the live services. The buyer’s premium is 19.5% using the LIVE services if paying by credit card and reduced to 17% if paying by cash or check.
 
12. Can I bid conditionally (get one or two guns out of the five lots I want to bid on, or only up to a certain amount)?
In most cases we can. It is possible to perform these type of “conditional” bids. Please contact the auction house to see if this form of bidding is available and if it is the best option.
 
13. What will/should I be asked on the phone when registering to bid?
Be prepared to answer basic questions including your name, phone numbers, email address, address, driver’s license information and credit card information for authorization. Additionally you will be asked what lot numbers you are bidding on and what amounts you will be bidding up to. If you are not asked a question you feel is important information please do not hesitate to ask your representative.
 
14. I see three guns in this lot. Do you sell each of the guns individually?
No. We sell the items in the lot as a lot. The estimated value on the lot is for all the items within that lot. No matter how many items are in the lot your bid amount is for everything in the lot. For example; if a lot has 5 rifles in it, and your bid amount was $1,000 and you won; you get all 5 rifles for the amount you bid plus the buyer's premium.
 
15. I only want one gun. What can I do with the rest?
We understand that as a collector it is possible, especially in our Regional Auctions, that only one piece in the lot interests you. We do not split out lots. Taking just the gun you are especially interested in will of course reduce the overall value of the lot. In both the Regional and Premiere auctions we work with lot value minimums.
  
16. Why is this Curio & Relic gun with an antique gun?
On the subject of antique weapons being mixed with modern we do our best to put together collector type lots, however there are times when the lot ends up a bit mismatched due to the fact that it must be kept together within a consignment and work within our lot value minimum. There are many who like the multiple item lots and return over and over again to participate. In the past two years our Regional Auctions have doubled in gross sales from 1.2 million to 3.2 million.
 
17. What is a Bid Plus One Or, What happens if my maximum bid is equal to another bidder's maximum bid?
A bid plus is used in case of an absentee bid tie. It raises your bid by one or two bid increments. Say there are two sealed bids in on an item for $1000. If there are no + entered in the system the first bid entered would be the winning bid. If one individual had a +1, the item would be hammered to them at $1100, or plus one bid increment. If you would like any additional clarification on the Bid Plus please do not hesitate to contact us.
 
18. What amount does the bidding start at?
Bidding generally starts no less than ½ of the low estimate. If there is a lot of absentee bids placed on an item, the item may start at the low estimate or even above the low estimate. The discretion of the starting bid is determined by the auctioneers.
 
19. Is it possible to win a lot for less than the amount I bid? –Absolutely!
This happens routinely as we bid for you as if you are actually here. We do our best to get you the lot at the best price possible. For example: Say a lot has a low estimate of $1,000. If you had an absentee bid in of $900, the bidding might start at $500. Let’s say someone on the floor bids up to $700 and stops, if there are no other absentee bids or phone bids for this lot you would win the lot at $750.

20. I bid the amount the lot sold for and did not win? Here are possible reasons:

TIE BIDS - It's possible that two absentee bidders bid the same amount (and bid higher than any live bidders). In that case we award the lot to the first sealed bid received. This applies to sealed bids placed through our website, mail, and fax. Each bid input into the system is stamped with the date/time received. This is why we encourage absentee bidders to give us your bids as soon as possible, as this scenario is very common.
The fall of the bid increment - Since we treat sealed bids as if the bidder is here live at the auction, trying to buy as cheaply as possible under the maximum amount the bidder specifies, there's always a possibility another bidder will beat them to that amount.

Here's an example of how that might happen:
A sealed bid is placed on a lot for $1000. Live bidders and other absentee bids at the auction bid the lot up to $900. At that point, we advance the bid on the sealed bidder’s behalf to $950. If there is no raise, the sealed bidder wins the lot for $950. However, the auctioneer asks for $1000 and if a competing live bidder bids $1000, we of course will take the bid. Looking at the sealed bid in this case, the sealed bidder told us not to spend more than $1000. We are not authorized to go to $1100 for the absentee bidder, so the live bidder is the successful buyer at the $1000 bid point exactly the same as the sealed bidder.
As you can see, this is entirely unpredictable and depends on how the live bids fall at the auction. In the example above, if live bidding had stopped at $900, we would have advanced the absentee bid to $950, with no other live bidders our absentee bidder would have prevailed. It is exactly what would happen if there were two live bidders in the audience who both planned to stop at $1000. One would get it, and the other would not. Preventing this from happening to you is simple. Since we buy for you as cheaply as possible at or below the maximum you specify, simply be sure you bid the true maximum you would go to if you were bidding live. Ask yourself, "If I was there, and the bid stopped to someone else at $1000, would I go $1100?" If so, bid a plus one or that extra amount. You still may fall on the bad side of the increment, but the exact same thing might happen if you were there bidding live. That's the nature of an honest auction.

21. I bid more than the lot sold for? Here are possible reasons:
We received your bid too late. Some bidders have submitted bids right before the lot goes up for auction and we did not have time to get your bid entered in to the system. Or you are a new bidder and we could not get your credit approved in time before the lot came up. Another situation is a bid of $2100 is rounded down to $2000 to be a proper bid increment. The item could sell for $2000 to another bidder as described above.

22. The items I won during the auction all sold for maximum amount of money I was willing to bid?
At RIAC we try our best to win the lot for each customer for the lowest price possible. Remember that many times customers are trying to bid as little as possible to win an item. For example if you bid on 10 lots in the auction, you won 2 of the 10 at your maximum bid amount. This also means you lost 8 items as your bid amount was too low. There are thousands of bidders in each auction. You are bidding against others that also know the value and want to win for as little as possible. If you placed low bids on 100 lots and won a single lot for your maximum price. That is a success!

23. What Lot Number are we on during the auction?

You can call us 800-238-8022 any time. Smart phone users standby....we are coming out with a mobile site soon that will give you this info.

24. When will you ship my items?

Please bear with us as we have as many as 5,000 to pack and ship after an auction. You can help expedite your invoice if you fill out the sealed bid winners form in your web account tools. This is available after each auction if you were a successful bidder.

25. When will the prices realized at auction be posted?

Typically we post the prices on our website within 2-4 days after the auction is over. If you purchased a premiere catalog you will also receive via mail a copy after premiere auctions only.