Please tell me more about King of the North Auction?

King of the North Auction is a live auction company that holds huge, high retail value auctions TWICE a month of misguided freight, cancelled orders, overstock, shelf pulls, out of season, open or distressed package and store demos. This auction is what our big crowds come for as most items are either BRAND NEW sealed or a NEW ITEM but open box. There is a huge variety of items and they usually range from $100 retail up to $5000 retail depending on what we get in our shipments. This is a great auction to attend if your looking to grab the latest electronics, tools, small appliances or baby items at a great discount or if you are a buyer reseller and can score a good deal. All items will fall under our 14 day warranty at this auction.

We also hold our clearance/overstock auction ONCE a month which consists of all our inventory that comes in under $100 retail and more of our distressed packaging and lightly used. Most items will still be New and fall under our 14 day warranty. This auction consists of many on choice items on tables, box lots and skids of product. This is the real bargain hunter auction with plenty of opportunity for small buyer resellers

How does the auction work?

Its fairly simple…

  1. Auction host will lift up an item at random and announce the name of the item and condition
  2. Auctioneer will commence the bidding usually asking for 50-75% of the rough retail value and continue dropping the price until someone raises their hand and starts off the bidding.
  3. Once someone has opened the bidding the bidding war will commence against all the other people in the crowd (you will see who you are bidding against as everyone is in attendance)
  4. When bidding has stopped if you were the highest bidder the product runner will bring you the item so you can keep it beside you at your seat until your ready to cash out.
  5. When your ready to cash out simply go to the cashier and hand them your bidder card number and pay your invoice in full then you can leave with all won items.

Do we take phone or absentee bids?

Unfortunately we do not accommodate any phone or absentee bids as we can’t guarantee the item will be picked up and paid for. We also would rather all bidders be present during the auction to create a visually fair environment for bidders. Many customers that are new to auctions will feel uncomfortable if absentee bids are in place and feel that it is a hidden reserve by our company which we do not do.

What payment methods do you accept?

We accept Visa, MasterCard, Debit or Cash when checking out.

We DO NOT accept AMEX, cheques or any other form of payment

All payments regardless of type are subject to the mandatory 13% HST.

Can I turn down an item after I have won the bid?

No, you can’t turn down a winning bid. Your bid is your bond – by registering with us you agree to honour all bids won or forfeit all items and be banned from our future auctions. If any attendees are caught bidding on items with intent not to pay and leaving, the local police department will be contacted for mischief and your information will be provided that was given at time of registration. All items must be paid for in full at time of cash out and all items once won are deemed property of the purchaser. If you damage an item you have won while it is at your seat or handling it to the cashier you are fully responsible for that item and it must be paid in full.

We offer one recourse at the discretion of the owner. (Stated below)

If there is a situation where you have won an item and it was sold correctly with no faults but you have a change of heart about keeping it, it must be paid for in full first then you can have the option to reconsign the item for our next auction. This can only be done at the time of cash out and must be confirmed with the owner. This option is not valid once you have left with the item and gone home. This option is done at 100% of the bid amount at the next auction. Once the 14 day warranty has passed on that item for the last previous buyer then you will be paid out by cheque (must be picked up, we do not mail these) or credit to your account whichever you prefer. Ex: Item sold at next auction for a bid of $100, you will receive the full $100. You do not receive the 10% buyers premium or tax.

What is your return policy?

We do not accept returns as we are not a store. We are a liquidation auction company, items can’t be returned because of buyer’s remorse. (ie: my wife doesn’t like the colour, I don’t like the way it fits or I decided I do not need it) All sales are final once items have been sold.

If there is an instance that you have a return please follow these instructions below…

If you have a return please call us or phone in. We recommend email as it leaves a paper trail for both parties and it is easier for us to assist you faster.

Explain the situation/issue about the item in the email (provide photos if it helps)

We always provide a replacement first before a return if a replacement is available (exact item and condition)

If a return has been accepted you have 2 options:

A) If you would prefer to bring it in during the week you must make an appointment to come in during our business hours.

We are NOT open for random drop-ins during the week and sometimes we might not be in the office.

We are by appointment ONLY and we can accommodate you between our available hours of 10am to 5 pm Monday through Wednesday.

We are usually NOT in the office on Thursdays and Fridays.

B) Another option is that you can always bring back the return to the next scheduled auction aslong as you have notified our staff of the return within our 14 days and it has been confirmed by the owner.

What is your warranty policy?

What we offer is a full money back, 14-day warranty on all items won at our auction. Unlike most auctions were everything is AS-IS where is, we at King of the North believe in the protection of our buyers and the quality of service we provide our auction members. We want all our members bidding on our items with confidence and peace of mind at our auctions.

Items can be returned during the week by booking an appointment with our staff during our business hours or at our next auction (which is the last day).

If a rare scenario arises where an item you have won has a manufacturer defect, misrepresented (we stated it as a different item) is damaged or incomplete and was not indicated during the time of the item being auctioned then we will gladly refund your money or exchange the item if another one is available. We are human and our staff tries very hard to inspect and test all items the best we can to our knowledge of that item. We pride our company on our 1% return rate, that is how accurate we usually are. If we happen to miss something during our inspection process, don’t worry just call or email us and we will make it right for you.

*** We recommend sending an email to info@kotnauction.com for any assistance with returns as phone calls are often missed in the warehouse. We prefer emails as it leaves a paper trail to protect both parties from miscommunication***

We strongly recommend that you check all of the items you won and notify us of any problems as soon as possible within the 14-day warranty period. Once the 14-day warranty period has passed and we have finished a new auction we will no longer accommodate returns for any reason from the previous auction. There is NO exceptions to this regardless of the excuse.

Does manufacturer warranty apply to items on auction?

We are not authorized sellers of any of the items we receive in our shipments as we are not a big chain retail store getting items straight from the manufacturer. We are a liquidation/auction company and you are aware of this when you attend.

This answer depends on each manufacturer and their policies. All manufacturers are different. Most will honour their warranty aslong as you have a proof of purchase (any invoice). Some only care aslong as the serial numbers are valid or if you have a warranty sheet that comes with the item and other manufacturers only honour their warranty if its from an authorized seller (such as a store that specializes in those items). It is not our responsibility to provide you the answers for all these manufacturers. If you are a consumer that is picky about manufacturer warranties then we encourage you to do your research by calling the manufacturers for the items your interested in.

Where do you source all your products?

We work with a few major online retailers and purchase truckloads of misguided/undelivered freight, cancelled online orders, overstock, shelf pulls, end of season, new open box, new distressed box, store demos, lightly handled/buyer’s remorse returns. We have 5-6 truckloads delivered each month which are thoroughly inspected by our staff.

Can I come in and preview items ahead of the auction?

Yes of course! We encourage all auction attendees to come early during our preview times between 10:00 and 11:30 am on the day of the auction. Unfortunately we are not open to the public during the week for drop-in previews as we are preparing for the next auction. When you are previewing any items please ensure you are careful with the item you are looking at and that all items are properly handled and put back in its original condition. If we see anyone opening sealed packages or roughly handling any items or its contents then you will be removed from our auction.

Do you take consignments?

Our usual consignment rate is 25% of bid amount.

Example: Item sells for a $100 bid

We get $25 and the consignor would receive $75

Consignments would be paid after our 14 day warranty time frame has passed. Payment would be made by cheque (must be picked up in person) or paid as credit on their account if they wish to use that amount as a customer of our auction.

However, due to our overwhelming amount of inventory we are not taking any consignments at this time. We may be interested in buying overstock or liquidation items so feel free to contact us.

What are the conditions of your items? Are your items new, used, refurbished?

Almost all of the items we put up for auction will be brand new just like in a big store or a new open box (with contents factory sealed untouched) or new open box (with contents handled and inspected by our staff to ensure nothing has been lost or damaged during shipping). Items will also be New but with distressed packaging due to shipping across Canada. Very rarely will we auction off used items or lightly handled. If we do, we are very transparent and will indicate it clearly during the time the item is being auctioned.

Do you have specific times or a catalog that items go up for auction?

Our items are put up for auction randomly at the discretion of the auction host. We usually mix up different categories every 10-20mins to cater to everyone in the crowd that is interested in different things. We do not have a catalog that we follow as it simply will not work for our auction format. We recommend you show up early to avoid missing out on items you would be interested in. During the auction the auction host will usually indicate if there will be 15-20mins spent on luggage (for example) so you can grab a quick smoke or washroom break.

Does the auction host indicate price references during the auction?

Our auction host will usually indicate the ballpark (IN STOCK Canadian) retail value for most expensive items (items over $100 retail) we do our own retail research on most of the items a few days before the auction so the auctioneer has some knowledge before commencing with the bidding. We usually reference, Amazon, Walmart, Homedepot, BestBuy.  However, we encourage all auction attendees to do your own personal research for the retail values as our retail values should only be used as a guideline and we will not be held responsible if you find prices cheaper. It is not our responsibility to provide retail values for you.

What if I can’t take all the items I won with me on the day of the auction?

We can accommodate certain situations where an item is too large to be transported and you need to come back later in the week to pick it up. This must be confirmed with one of our staff. A $5 a day storage per item will be due at time of pick up for that item. We can store an item up until 14 days maximum.

Is there a minimum bid?

We have no reserves but all lots start with a $5 minimum opening bid. We will not accept any bids below this as our auctions are time sensitive and our items are usually higher value.

What is the 10% buyer’s premium?

The 10% buyer’s premium is added to your winning bid amount. It is used to help fund the operation costs of the auction (auctioneer, staff, etc).

Do you charge tax?

Yes, all items are subject to the mandatory HST of 13%, which is added to the total winning bid amount.

How do you calculate the total on items won?

Here’s an example for a $10 winning bid:

$10.00 Winning bid
+ $1.00 Buyer’s premium (10%)
= $11.00 Subtotal
+ $1.43 HST (13%)
= $12.43 Grand total