FAQs

What types of Auctions does Auctions By Corrina Ltd. Co. perform?

Complete personal property content liquidation of Estates via the auction method through an online only auction where only registered bidders are able to bid and compete against other registered bidders.

 

Where does Auctions By Corrina Ltd. Co. provide auctions services?

Currently services are provided only for Estates located in Santa Fe, NM and surrounding areas.

 

How do I get started with using Auctions By Corrina Estate auction services?

It begins with scheduling an initial consultation by calling 315-236-6530. During the consultation, contents of the estate or business to be sold will be reviewed, timeline and deadlines will be discussed, and an overview of the auction process will be given. A proposal of services will be provided after the initial consultation, sometimes same day or within two days. Upon agreement of the proposal, a contract is signed by both parties, and work commences upon the dates and terms of the contract. I work with Trusts and Executors to provide a seamless experience.

 

What can I expect with working with Auctions By Corrina Ltd. Co.?

The needs of every Estate are different, and services are designed around the specific needs of the Estate. Services are not one-size-fits-all.  Things that will be discussed are time factors, privacy, security, payments, expectations, how your auction will be marketed, among other factors important to you.  Auctions By Corrina Ltd. Co. carefully develops marketing plans that will maximize exposure and revenue potential.

 

What happens after my Estate auction has ended online?

Payment is processed for all winning bids. Winning bidders with successful payment are notified of the Estate address location and provided a link to sign up for an auction pickup time slot. Auctions By Corrina manages secure pickup on designated days and allows only one successful bidder on the premises at a time during their designated time, assisting in gathering of all items bidders successfully won and paid for. Auctions By Corrina also provides shipping options for smaller items and handles all packing and shipping of those items. Auctions By Corrina aims to sell 100% of items listed, in the event there are any unsold items, alternative options will be discussed.

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When does the Estate get paid?

Payment is remitted within 10 work days following the conclusion of the Sale Date.

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What do the terms “reserve” and “absolute” mean?

During an auction, items being sold with a “reserve” means that there is a minimum price a seller is willing to sell an item for and the item will not sell unless the reserve price is achieved. Items identified as “absolute” are sold to the highest bidder regardless of price.

 

What is a Buyer’s Premium?

A Buyer’s Premium is a percentage amount paid by the buyer and added to the highest successful bid to determine the final contract price. For example, if the Buyer’s Premium is 10% and the Buyer bids $100, the Buyer will pay $100 for the item plus $10 Buyer’s Premium for a total of $110.

 

Are there gross receipts taxes?

Yes, all invoices will be charged the current gross receipts tax for Santa Fe, NM which is 8.19%. If you are a non-taxable buyer then proceed to file for a Non-Taxable Transaction Certificate (NTTC), Non-Taxable Transaction Certificates (NTTC) : Businesses (newmexico.gov). Auctions By Corrina Ltd. Co. CRS # is: 03642949000-GRT. Resale certificates issued by other states are not valid in New Mexico.