Auctions

Kwik Auctions features both Timed Online Only as well Live & Online sales. All of our auctions are listed with Bidspotter; see all of our Upcoming Auctions Here.

Timed Online Only Auctions

Kwik hosts 4-5 online only (timed online) auctions every month. These auctions are available to bid on as soon as they are posted. They start closing at 10am on Saturday or Sunday & close at the rate of 1 lot per minute. We are not open during timed online sales – if viewing is available it must be done during our regular hours (Mon-Fri, 9-3).

Live (and Online) Auctions

Kwik hosts a live & online auction once every 5-8 weeks, usually featuring a several closed restaurants as well as a large volume of rental & leasing returns. These auctions are always held on Saturday at 10am, and occasionally very large auctions requires 2 days- both Saturday & Sunday.

Live & online auctions have an actual auctioneer calling every lot. In addition to our regular hours (Mon-Fri, 9-3), we open the doors for viewing at 8am on Auction Day Saturday. The auction starts at 10am start, and we sell approximately 70-90 lots per hour.

An audio stream and the ability to bid live with the auction is available via Bidspotter to the online bidder, or you can simply leave absentee bids in advance.

Auction FAQ

Auction FAQ

You can bid anytime during the start and end time period displayed that a lot is available for bidding.

BidSpotter.com bids on your behalf up to your ‘maximum bid’. BidSpotter.com will only bid as much as necessary to make sure you meet the reserve price or that you remain in the lead up to your ‘maximum bid’. They’ll notify you by email if another bidder places a bid that is higher than your ‘maximum bid’.

Your ‘current bid’ is clearly displayed when you log in and view the lot for which you’ve left a ‘maximum bid’. In many cases your ‘current bid’ is lower than the ‘maximum bid’ you entered.

If you have the leading bid and you have met or exceeded the reserve price when the defined time period ends, you will have won the bidding for this lot. Please remember, bidding online is a contractual commitment to buy.

Timed online auctions on BidSpotter.com have an auto extension facility. If a new bid is placed within the final 10 minutes, the time remaining before the lot closes is reset to 10 minutes.

Log into your BidSpotter.com account in the top right hand corner of the site.

As long as you are approved by the auctioneer to bid in the auction, ‘Bid live now’ button will be blue. If you are not approved, you will see a grey ‘Bid’ button.

Clicking ‘Bid live now’ will open the live application bidding window. Enter your email address and password in the sign in box and you will be ready to bid.

When the auction is about to commence the first lot will be displayed in the bidding window on the left hand side. A button appears showing the amount currently being asked. To bid for the lot simply click the BID button when the amount you wish to bid appears on the screen.

Please remember, bidding whether online or in the room, is a contractual commitment to buy.

Within the live bidding software, you will see a tab of your ‘Won’ lots. You will receive an invoice shortly after the auction, and you will see the auction items processed on your payment card within 1-2 days. If you do not see a transaction record showing successful payment within 48 hours, please contact us.

  • Buyer’s premium – covers the auction house costs and is calculated as a percentage of an item’s hammer price. The buyer’s premium is listed on the right hand side of the lot details page. Our standard buyer’s premium is 18%, but a 3% discount is available to live auction cash/debit buyers. This discount is obviously not available to online only buyers, whose accounts are settled via payment card following the auction.
  • Sales Tax – all applicable taxes will be applied to both the hammer price and the buyer’s premium, or it may be included within the hammer price. For out of province sales we can charge local taxes provided the items are shipping via third party carrier out of province.
  • Delivery – It is the responsibility of the bidder to organize delivery. If you need help please contact us asap to make sure you stay within the deadline for pickup as outlined in the sale Terms & Conditions.
  • Storage – Please see the sale Terms & Conditions for the details of pickup deadline & storage costs. Storage is ONLY available for invoices totaling more than $200 hammer price (before buyer’s premium & taxes.) Invoices totaling less than $200 not picked up will be resold, with no refund given.

Neither Kwik or Bidspotter store your credit/debit card details. We use a third party supplier to ensure we are Payment Card Industry (PCI) compliant. As soon as you enter your card details, the card number is converted to a token and encrypted, and the original data is discarded.