How It Works

A great resource for first timers
How It Works2022-11-09T15:49:06-04:00

First Time Here? Take Some Tome To Learn How We Do Things!

Am I able to come look at the items in person?2022-12-02T15:55:23-04:00

You bet! Our auctions usually start on Thursday afternoons and run to Sunday evenings with a viewing on the Friday from 1pm-6pm. Viewing times and location may be different for specialized or on-site auctions. Viewing times are always noted for every auction.

What is the Buyer’s Premium?2022-12-02T15:55:23-04:00

The Buyer’s Premium was a creation of the two major English auction houses, Sotheby’s and Christie’s of London. The auctioneers at these two firms invented the premium, proved its worth, and ultimately exported it around the world. It was first introduced to North America in 1975, where Christie’s New York Gallery first implemented a 10% buyers premium (it’s now 20%). Within days, Sotheby’s Manhattan Gallery quickly followed suit, and since then it’s been a growing tool in use by all progressive auction companies.
Basically, A buyer’s premium is a marketing tool used by auctioneers to induce sellers to bring quality assets to auction. The premium is a stated percentage that an auctioneer adds to the highest bid for each lot sold to determine the lot’s selling price. It’s a price surcharge provided for in the terms of the auction and assessed against buyers on their purchases.

Here’s how it works. If an auction charges a 10% buyer’s premium and a lot is sold for $100, the lot’s selling price is $110. The price is calculated by adding the 10% surcharge ($10) to the $100 hammer price

Understanding a key principal of auctioneering explains a lot about the popularity and growth of the buyer’s premium. An auction equation has two sides, the buyer who comes to purchase the goods up for auction, and the seller, who offers the goods for sale. Since the Depression Era, the sellers have been more valuable to the auctioneer than the buyer. That’s because sellers of quality assets are much harder to get than are quality buyers for those assets. If this weren’t true, every auctioneer would be booked solid with quality auctions, and that’s far from being the case.

The foremost challenge facing modern auctioneers has nothing to do with conducting an auction. It centres on the constant struggle to attract sellers of quality goods. It’s much easier for auctioneers to attract these sellers if they can offer a worthwhile incentive, such as a reduced selling commission. The buyer’s premium makes it possible to provide this inducement when an auctioneer either (a) does not increase his commission rate, as business overhead would otherwise warrant, or (b) actually reduce the rate.

The buyer’s premium has become an invaluable marketing tool. It was designed to lure sellers to the auction markets by offering them reduced selling commissions. An auctioneer can afford to reduce (or at least not increase) a commission for a seller by offsetting the reduction with the use of the buyer’s premium, along with the seller’s agreement to pay the premium collected to the auctioneer as an additional selling commission. This commission flexibility is powerful bait that brings many desirable goods to the auction markets that would not otherwise be offered. Some buyers overlook this advantage of the premium, while others jump at the chance to buy goods that they would not otherwise see at auction.

How to Bid2022-12-02T15:55:21-04:00

Registering for an auction: If you are a NEW bidder and would like to register for our auctions, just click on the ‘Start Bidding’ Button on the home page, click ‘Login / New Bidder’, then click ‘REGISTER HERE’. This will take you through the registration process. New bidder registrations will have to be approved. This is usually done within the hour of you registering and you will receive an email confirming that you have bee approved to bid. If you have already registered, just click the Start Bidding button and enter your log-in credentials as usual.

Placing a bid: Once you have registered and have accepted the Terms and Conditions, you are ready to start bidding! You can bid by simply going up to the next bid amount, or you can put your Max bid on an item. The Max bid is the Maximum amount you are willing to bid on an item. As other bidders are bidding on that same item, the computer will automatically put you in for the next bid until that maximum amount is reached. It’s what we used to call “Absentee Bidding”.

If you are the high bidder on an item, it will display in green and say “Winning” on the item. If you are outbid on an item, you will receive an email notification indicating that you have been outbid and provide a link to the item so you can easily place another bid if you wish. On the actual auction, the item will appear to you in red and say “Outbid”.

If you place a Max bid, but someone else has already done the same before you, the system gives preference to the first bidder at that bid; first come, first serve. It will appear to you as “Outbid” and you will have a chance to then place a higher bid.

Conversely, let’s say you place a Max Bid of $100 on an item and you are currently winning it at $40. Someone else then places a Max bid of $80. You will then see that item jump from $40 to $80 still winning to you. The other bidder will see “Outbid” at $80. Let’s say they then put in a Max bid of $100, it will then jump from $80 to $100 still winning to you because you had that Max bid in first. Let’s say they then put a max bid of $150. It will put them in at the next bid of $110, and it will show you as “Outbid” on that item.

Sometimes it’s easy to forget that there are many, many people looking and bidding on the same items. More than one person entering the same Max bid happens ALL THE TIME. That’s just how auctions work; several people vying for the same item in a short period of time. But that’s also the fun of it!

Which brings us to our last bit of advice for bidders: Have fun! Will you feel disappointment if you are outbid or miss the closing time? Sure. But when you snag that one-of-a-kind piece you’ve been looking for forever, it’s a happy-dance all the way to the auction! And now you have a fun story to tell!

What happens if I do not pick up my items during the designated pick-up time?2022-12-02T15:55:22-04:00

They will either be put back up for auction at some point or donated. Payment is still required to be eligible to bid on future auctions. However, we understand that there can be circumstances that may make it impossible to pick-up during the designated time frame. We completely understand this and just ask that you let us know. We then take it case-by-case. We don’t have infinity storage space so if you become a repeat offender, your bidding privileges may be revoked.

When can I pick up my items?2022-12-02T15:55:22-04:00

The pick-up time is always posted in the auction info and in your email with your invoice. Pick-up times are usually the Monday following the auction from noon – 6pm. This could be different for auctions that are not our ‘normal’ Thursday to Sunday Estate auctions, but we always post pertinent info for these specialized sales, like different pick-up times and/or locations.

Why does the item say, “May Have Won” instead of “You Have Won” when the bidding has closed?2022-12-02T15:55:22-04:00

All Items say “May Have Won” until the program creates and issues the invoices for the items.

I receive Liptay’s regular emails. How come the ones with my invoice is flagged as spam or doesn’t come through at all?2022-12-02T15:55:23-04:00

This one is tough and depends on your email provider. The first thing to try is to add to your personal contact list. E-mail providers have gotten very good at blocking or marking as Junk suspicious emails with attachments. Even though you may receive our regular emails, you may have to take steps through your email account for invoices to get to your regular inbox. If adding to your contacts still doesn’t work, here are some links below that show how to mark items as safe through different email providers.
Outlook / Hotmail:

What if I don’t like my purchase? Can I return it?2022-12-02T15:55:21-04:00

No. Please read the auction Terms and Conditions for every sale. If you are not sure about an item, please make your inquiries or attend the viewing before you bid. If you cannot come to the viewing, we can always send more photos, double check dimensions, answer specifics on condition, etc. so please ask away! However, sometimes there are extenuating circumstances or mistakes that do warrant a return, or amendment of some kind. These rare situations are dealt with on a case-by-case basis. We will always try to do right by our bidders when there are genuine issues.

Can I ask for additional information or photos of an item?2022-12-02T15:55:21-04:00

Absolutely.  We are always fielding inquires during an auction, so sometimes we cannot answer immediately but we do our best to get to all who have questions about items.  You can call (506-857-7497), e-mail (, or send a PM through Facebook Messenger ( ).

What happens if I do not pay for my item(s)?2022-12-02T15:55:22-04:00

Unfortunately, you will not be able to bid on future auctions. Even if it is a small amount, we still must pay the consignor, handle the item(s), store, or donate them. Our employees are just that, employees, not volunteers. They expect to be paid for work done (rightly so) regardless of whether auction received payment from a bidder.

Do you provide shipping?2022-12-02T15:55:22-04:00

On some items, yes. You can always ask before you bid on an item if we can ship it. As a rule, we do not ship large items such as furniture, large lots of items, floor lamps, large artwork, mirrors, etc. But if you would like to make arrangements for a shipper to come and transport something large, we will certainly make the item(s) available to allow for the transporter/shipper to come package them, label them, and load them.

Do you deliver?2022-12-02T15:55:22-04:00

We can deliver within the Greater Moncton Area. The cost depends on the items. Delivery dates can vary depending on schedules, but generally by the end of the week following the auction.

Why does it say “Pending Approval” after I’ve submitted my registration information / request for Liptay Auctions?2022-12-02T15:55:23-04:00

We physically approve every new bidder because it gives us a chance to double check their location. We sometimes personally contact new registrants from other Provinces and countries to 1) make sure they are aware of our shipping / pick-up / payment policies, and 2) that international bidders are aware that our auction is in New Brunswick Canada.

How do I register for the auction?2022-12-02T15:55:23-04:00

Just click on the ‘Start Bidding’ button on our home page. Click on ‘Login / New Bidder’. New bidders click ‘REGISTER HERE’. Returning bidders, simply enter your username and password, then click ‘Log On’.

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