Auction Selling Tips
Selling at Auction
The quickest way to secure capital from unproductive assets is by selling at auction. And the surest way to realize the highest cash return is to call upon the services of Auction Systems Auctioneers & Appraisers, Inc. Our firm has produced millions of dollars for sellers in the history of our operation. With statistics such as these, it's no wonder our auction and appraisal firm conducts more than eighty auctions a year, selling virtually every type of industrial, commercial and personal asset. Auction Systems offers four types of auctions to serve the needs of clients selling at auction: Live Auctions, Simulcast Auctions, Internet Only Auctions and Private Auctions.
Live Selling at Auction Methodology
Live Auction allows assets to be liquidated on location at your business or home; or the assets can be sold along with the merchandise of other consigners at our warehouse. Regardless of location, our auctions are thoughtfully set-up to properly display the merchandise for sale. Careful attention is paid to divide and combine assets in a way that will bring the highest sale dollar possible. An individual advertising campaign is designed for the selling merchandise and is targeted towards the buyers that will pay the maximum amount for the assets. The live selling at auction method creates a sense of urgency for the buyer and brings about the quickest cash settlement for our sellers.
Simulcast Selling at Auction Methodology
Simulcast Auction combines the live auction method along with the Internet. Assets can be liquidated on location at your business, home or at our warehouse. Your merchandise appears for sale on the Internet at the same time as in the live auction. Merchandise is photographed and a description is written for the asset – this information is placed on the Internet at least one week prior to the live event and allows Internet participants to preview and leave proxy bids for item(s) they want to purchase. On auction day, the buyer may either attend the auction in person or bid from their home or office computer, bidding in real time against other live and Internet auction bidders. The simulcast selling at auction method takes longer to administer and set-up, however the additional revenue created from a worldwide audience can be substantial for our sellers.
Internet Selling at Auction Methodology
Internet Auctions are typically used as a way to sell special collections and small antiques that only appeal to a very selective buyer base. Assets are brought to our Internet sales division. Each item is photographed and described in detail. Both photos and written description are posted to an Internet auction such as E-bay. The process of selling in an Internet-only auction is one that is the longest to administer because of the length of time it takes to research the items for auction; however, in special situations it produces the highest possible revenue for our sellers.
Private Selling at Auction Methodology
Private Auction is used in disposition of personal assets from an estate where legacy transfers were omitted. The methodology is conducted using a pre-determined spending limit for each auction attendee and allows the buyer to choose the item(s) that they wish to purchase within their spending allowance. The private selling at auction process is a helpful tool for the trustee or executor who is experiencing challenges in resolving incomplete legacy instructions from a decedent.
Superior Marketing That Attracts Buyers When Selling at Auction
Regardless of the method used for your auction, Auctions Systems is a "market-maker" and we understand that a successful auction begins with successful marketing and advertising. Only by attracting the most qualified and interested buyers will spirited and competitive bidding occur. So we focus a major effort on reaching the right audience effectively. Through our almost two decades of auctions and appraisals, we've learned who and where the buyers are, as well as how to reach them. We use digital advertising, direct mail, trade journals, magazine and newspaper advertisements, Internet message boards, email broadcasts, press releases, public relations campaigns, radio and television commercials, and a multitude of social media platforms to assure the best possible buyer turnout. Our reputation for fair auctions also helps draw more qualified buyers, as does our expert handling of timing, location, merchandising and other variables that can affect attendance and results.
Effective Salesmanship for Top Dollar Results When Selling at Auction
Auction Systems’ auctioneers not only know value - they also understand salesmanship. Each is a proven master of "applied crowd psychology" and is able to maximize our seller's return on assets. During the sale itself, our staff keeps the auction moving, interesting and organized. Computerized accounting and invoices for each buyer are generated as the sale progresses, and cassette tapes record the auction event. The outcome is an auction in which everyone from seller to buyer receives a fair and equitable deal. And that system for success has earned Auction Systems a strong reputation for our sales and marketing skill.
Never A Buyer's Premium When Selling at Auction
Types of Auctions
•Autos & Equipment
•Estates & Antiques
•Private Invitation Only
|•Antiques||•Coins & Currency||•Backhoes|
|•China & Glassware||•Commercial Equipment||•Graders|
|•Sterling Silver||•Medical Equipment||•Sweepers|
|•Automobiles & Trucks||•Survey Equipment||•Electronics|
|•Building Materials||•Test Equipment||•Furniture|
|•Cameras||•Forklifts||•Jewelry & Gems|
|•Dolls||•Refuse Trucks||•Livestock / Tack|
|•Office Furniture||•Real Estate||•Commercial Buildings|
|•Income Properties||•Land||•Mobile Homes|
|•Residential Homes||•RV 's||•Sporting Goods|
|•Tools||•Office Equipment||• And More!|
Auction Systems does not charge a buyer's premium at our auctions. A buyer's premium is a charge that some auction houses charge to their buyers - as much as 25% above their bid price. These other auction firms explain that it is a buyer's responsibility to pay for the expenses of conducting the auction -- not the seller. Although this explanation seems to have some logic, professional auction buyers aren't that foolish, they simply lower their bids so they can afford the buyer's premium. This translates into less money for the seller and more money for the auction house who charges a buyer's premium. At Auction Systems, we feel the use of buyer's premium is an unethical practice and always results in lower auction revenue for sellers. Auction Systems' commitment to never charging a buyer's premium is just one more way to rise above the practices of other auction and appraisal firms.
For more information about selling at auction, how to sell at a live, simulcast or online auctions with Auction Systems, please contact us online or call 800-801-8880 today.