How can I tell if an auction is legitimate?

1 September, 2024

Here’s how to verify an auction’s legitimacy before participating:

Key indicators of a reputable auction:

1. NAA membership – Look for the National Auctioneers Association logo, indicating adherence to ethical standards and best practices
2. Clear terms and conditions – Legitimate companies provide detailed rules and welcome questions
3. Track record – Established auctioneers typically have a history of past auctions and scheduled future events
4. Balanced online reviews – Check Google and Facebook ratings. Be cautious of companies with no reviews, exclusively negative feedback, or suspiciously perfect ratings. Reputable companies often respond professionally to negative reviews.

The auction industry facilitates billions in sales annually across real estate, equipment, vehicles, and other assets. Choosing a legitimate auctioneer helps ensure a positive buying experience.