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
We offer a limited in-person preview by appointment for lots with a low estimate of $1,000 and greater. Please call 630-495-0229 for the latest information and to schedule a preview appointment.
Catalogs
Leonard Auction has a full color catalog online for each auction at least two weeks 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 online, you may fill out our Absentee Bid Form and Leonard Auction will bid competitively on your behalf.
Telephone Bidding
If you are unable to attend the auction online, 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 20%. 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 | 5% of the hammer price |
| The Saleroom | 5% 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:
| State | Sales Tax Rate | Exceptions |
|---|---|---|
| California | 7 1/4% | Coins |
| Florida | 6% | Coins, currency and bullion |
| Georgia | 8.5% | Coins and currency |
| Illinois | 8 1/4% | Items from estates and private sellers; coins, currency and bullion |
| Kansas | 6 1/2% | |
| New Jersey | 6 5/8% | |
| New Mexico | 5 1/8% | |
| New York | 8 7/8% | Bullion |
| North Carolina | 7% | Coins, currency and bullion |
| Pennsylvania | 6% | Coins, currency and bullion |
| Virginia | 7% | Coins, currency and bullion |
| Washington | 10 1/2% | Coins, currency and bullion |
| Wisconsin | 5 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 3.75% administrative fee). Buyers outside of the United States must pay by wire transfer. 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.