How to Buy

Leonard Auction is dedicated to providing the best possible experience for buyers. From our detailed catalogs to various bidding options, we strive to enable buyers to easily obtain the items they desire.

Inspecting Items

Preview

To ensure the safety of our staff and customers, we offer a limited in-person preview by appointment.  Please call 630-495-0229 for the latest information and to schedule a preview appointment.  All previewers must comply with local, state and federal COVID-19 requirements.

Catalogs

Leonard Auction has a full color catalog online for each auction at least a week prior to the sale date. The catalog contains all pertinent information about the sale and a detailed listing, with photographs or every item offered for sale.

General Auction Information

Absentee Bidding

If you are unable to attend the auction in person, you may fill out our Absentee Bid Form and Leonard Auction will bid competitively on your behalf.

Internet Bidding

Telephone Bidding

If you are unable to attend the auction in person, you may request a phone bid. During the auction, a Leonard Auction representative will call you and place bids at your discretion. In general phone bids are reserved for those items with a low estimate of at least $1,000.

Conditions of Sale

Terms of Sale

Registration and bidding at Leonard Auction constitutes an acceptance of our Conditions of Sale. Please contact the auction house at 630-495-0229 with any questions.

Bidding Increments

In general, bidding at the auction will progress on the increments below.

Buyer's Premium

A buyer’s premium is added to the hammer price for all items to determine the final purchase price. The buyer’s premium for all purchases is 18%. Our online bidding partners charge an additional buyer’s premium according to the chart below.

Online Platform Additional Buyer's Premium
AuctionZip 5% of the hammer price
Bidsquare 5% of the hammer price
Invaluable 5% of the hammer price
Live Auctioneers 5% of the hammer price
ProxiBid 3% of the hammer price

Sales Tax

When applicable, sales tax will be added to the hammer price and buyer’s premium.  Please contact our office at 630.495.0229 to file a copy of your resale certificate.  We are currently required to collect sales tax from buyers in the following states:

After the Sale

State Sales Tax Rate Exceptions
Illinois 8% Items from estates and private sellers; coins, currency and bullion
Kansas 6 1/2%
New Jersey 6 5/8%
Pennsylvania 6%
Washington 10 1/2%

Invoices

Invoices are sent via email immediately following the end of the auction. Payment is due upon invoice.

Payment

Leonard Auction accepts cash, money order, wire transfer, Zelle and approved personal checks as forms of payment. We also accept credit / debit cards and Paypal (subject to a 3.5% administrative fee). We reserve the right to hold property until payment has cleared the bank or request payment by a specific method.

Auction Buying FAQ

Leonard Auction offers a fully illustrated online catalog that is constantly updated before each auction.

Leonard Auction provides an opinion of the condition of each lot that is stated in a Condition Report. These statements are available on the online catalog and printouts available at the auction house. While we make every effort to accurately describe items, please note that items are Sold As-Is, Where-Is with all faults.

New bidders will need a driver’s license or state ID to register for the auction. We reserve the right to require credit prior to registration.

As a general rule, Leonard Auction will open the bidding at 1/2 the low estimate. In some select cases bidding may open lower and in many cases bidding will open higher depending on pre-auction bidding activity.

If there is no pre-auction bidding activity, the absentee bid will open at 1/2 of the low estimate. If we have pre-auction bidding activity, the absentee bid will open at one bid above the highest pre-auction bid.

No, all auction sales are final and we do not accept returns. We are happy to re-offer an item purchased from auction for a reduced commission provided the item was purchased for $300 or more.

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Illinois Licensed Auction Firm #444.000451

Copyright 2021, Leonard Auction, Inc.
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