Auction FAQ

Q. Why “Lauro Auctioneers” and not another auction service?
A. Simply put, we are the best in our business. We understand that our reputation is our livelihood. We treat all that we do business with, all those that we come in contact with and all those we are given the opportunity to assist with the highest level of respect and integrity. Our family is dedicated to providing the highest level of customer satisfaction possible.

We focus our resources on providing information to the highest number of qualified buyers possible, after many years in this business; we do this better than anyone. Additionally, if we feel we cannot perform the best service possible for your particular needs, we will use our considerable resources to assist you to find someone that can, free of charge. Lauro Auctioneers is here for the long term; we seek new friends with whom we may have years of positive business dealings with.

Q. Why should I use the services of “Lauro Auctioneers” and not try to sell the item on my own?
A. Lauro Auctioneers is a family owned and operated business, having many years of experience in this sector. Our experience has allowed us to build a vast network of those qualified buyers and serious sellers of various pieces of equipment. Due to this experience, we are uniquely qualified to achieve a true fair market value for your equipment, or purchase. Many sellers come to us after having spent large sums of money in marketing and storing their merchandise, only to see us achieve a sale within a very short period of time. We are able to do this due to our experience and connections to serious sellers and qualified buyers. We get the job done; it is what we are paid to do.

Q. What types of auctions do you handle?
A. We handle all types of auctions and liquidations ranging from the Food Service Industry, Commercial Businesses, Retail Stores, Manufacturing Plants, Tools & Heavy Equipment, Automobiles & Marine, Estates & Personal Property and Residential & Commercial Properties Including Land.

Q. Is “Lauro Auctioneers” licensed and insured?
A. Absolutely. We are licensed by the State of Florida & fully insured. Our auction business license number is AB1704. Auctioneers’ Mark Lauro AU2348 & Eric Lauro AU2392.

Q. How can “Lauro Auctioneers” immediately help me if my merchandise is in a warehouse that I am paying rent on and losing money daily?
A. The first step would be for you to contact us. In most cases, we will dispatch a qualified evaluator to inspect your equipment and find the best possible situation in which we may assist you. At that time, we will explain different options we may be able to offer you, including an onsite auction where we will take care of everything for you, the possibility of us arranging for your equipment to be moved to our showroom in order to immediately stop your losses due to rent or possibly a cash buyout.

Q. What is a “Cash Buyout”?
A. Some of those who contact us are interested in an immediate, on the spot cash payment in exchange for their goods. Our evaluator will inspect the items that you have and at that time offer you an immediate payment for the goods.

Q. How does a “Consignment” work?
A. Lauro will evaluate the condition and value of the assets and discuss all options with you. Once you have agreed for us to handle the auction and or liquidation of the equipment, we shall arrange the transportation to our showroom, clean and prepare the equipment to be marketed, and receive a commission for services once the item has been sold.

Q. How do “Onsite Auctions” work?
A. This is not only the part of our business that we enjoy the most, but also the most effective way to put the most amount of money possible into your pocket.

Example: “ABC Pizza Company” decides to close one of its outlets, “ABC Pizza Company” employ’s Lauro to produce an onsite auction in exchange for a fee, a percentage of the gross sales amount.

Once the contract has been signed, Lauro will choose the best date possible for the auction, provide all set up, marketing and promotion for the sale. Our experienced staff of professionals will clean and place all items in the restaurant in their best strategic positioning in order to achieve an immediate sale at auction. We will market your sale to many qualified buyers utilizing our considerable resources.

We provide all staff necessary to ensure the sale is fun, productive and without delay. Our staff will provide all services, including security to protect the goods, along with checkout to ensure a successful sale. Our bookkeeper will handle all aspects of payment, including placing all monies owed to you into our Escrow account without delay. Once we have achieved settlement day, you shall receive all monies owed to you with a specific breakdown of all items sold at the sale. Onsite auctions historically achieve the best results.

Q. Can you sell my restaurant as a going business?
A. In addition to being licensed auctioneers we are also licensed business and real estate brokers. We have sold many restaurants in bulk over the years. Our clients are always looking for opportunities to be able to secure a turn-key location and look to Lauro to help them find there next venue.

Q. What will you do in order to market the sale of my assets?
A. Lauro’s marketing campaign consists of mailing lists, fax lists, email lists, internet advertising, phone campaigns and social marketing to name a few. Additionally, serious buyers know the value of contacting us before making any purchases. We receive hundreds of inquiries each week from buyers looking for items such as yours. Our reputation for fair dealing is in itself a reason many choose to deal with us.

Q. What happens if my item(s) doesn’t sell?
A. Due to the fact that Lauro’s marketing is so extensive, we deliver more qualified buyers than any of our competitors. In the unlikely event that your item is not sold within a reasonable amount of time, one of our marketing specialists will review your situation to find the solution right for you. We seldom have any passed lots.

Q. What is a “Buyers premium”?
A.  A “Buyers premium” is the amount we charge buyers, on top of the purchase price, which goes to covering the many expenses we incur in order to bring information to qualified buyers.

Example: I if a buyer has a winning bid of $100.00 for an item; their final bill would be $100 +15% ($15.00) +Florida sales tax (6%, or in this case, $6.90). This allows us to split the cost of marketing an item, and costs involved in achieving a final sale, between the buyer and the seller. In any event, this formula allows both buyer and seller to achieve their goals in a reasonable amount of time.

Q. What type of guarantee does my purchase come with?
A. We are in the business of liquidating equipment for those who seek an immediate sale. We do not guarantee the items that we sell. However, rest assured, as the premier Auction & Liquidation Company in the State of Florida, we recognize that our reputation is the only true asset we have. Therefore, we will never knowingly mislead or misinform anyone about the condition of anything we are contracted to liquidate.

You are always welcome to inspect an item before making a purchase, if your purchase is a significant one, we strongly recommend you have the item checked out by a technician to verify the usefulness of the piece for your particular needs. If you don’t know of a technician, we can recommend some independent ones whom we have personally used in the past.

Q. Are my purchases subject to Florida State sales tax?
A. Under Florida law, all purchases are subject to Sales tax unless you have a certificate exempting you from this tax. If you do have a Tax Exemption Certificate, you must provide for us a copy of this before settlement. Additionally, many purchases for use outside of the US would also be exempt, in this case you would need to provide documentation clearly showing where the merchandise is to be delivered to, i.e. bonded warehouse etc…

Q. How long will it take for me to receive a settlement check once my goods have been sold?
A. As Florida law states, we are required to settle auction funds within 30 days. In most cases, we usually settle auction accounts within 7-10 days. Know that your funds are held in our escrow account, in accordance with Florida Sate Law. For consignments we settle the first week of every month for sales completed the previous month.