Archives: Glossary

Certified Auctioneers Institute. The professional designation awarded to practicing auctioneers who meet the experiential, educational and ethical standards set by the National Auctioneers Association Education Institute.

If an auction company makes a catalog available to you, be sure to get one. It can help you to know the description of the items sold and also how it will be sold. There may be a quantity of the commodity in each lot being sold and they may be for all one bid

The fee charged to the seller by the auctioneer for providing services, usually a percentage of the gross selling price of the property established by contract (the listing agreement) prior to the auction.