Why Sell at Auction?
Auctions are the most unique and valuable way of selling almost any type of real or personal property.
Some of the most popular auctions are those that involve antiques, specialty collections artwork, industrial equipment and even household items . More and more people are buying and selling real estate and land by using the auction method.
There are Benefits to Selling at Auction
So how can auctions benefit you, as a seller? Why are they the best way to sell both real and personal property? Well, there are a number of reasons
- Speedy Process, Quick Turnaround.
- An auction is immediate. It happens during a set time and is completed during that time. It’s quick and efficient.
- You Set the Time and Place of Your Sale.
- It’s as simple as that. You work with the auction firm to schedule what works best for you.
- Scarcity of Land and Real Property
- With the scarcity of real estate including land and homes, it is a good time to sell using the auction method.
- You Know Exactly When Your Property or Goods Will Be Sold.
- Using the absolute auction method, there’s no wondering whether or not your real or personal property will sell. It WILL sell and it will sell during the set auction time. If you choose to sell real property using a reserve, in today’s market it is still most likely your real property will result in successful auction.
- Comprehensive Marketing of Your Property.
- Part of conducting an auction is marketing it to the general public to get as many people to the physical auction site or to the website as possible. Auctioneers are marketing specialists.
- Sellers Prefer the Auction Method.
- Auction goers and online bidders are prepared to buy. It’s a seller’s delight. For real estate auctions this is especially advantageous as sellers are anxious to sell without the stipulations that often come with selling in a private treaty format. Most real estate auctions sell “As Is Where Is” and there are no contingencies. This makes it a very attractive option for selling.
- No Negotiations.
- There is no haggling over price or merchandise. The auction method is quick and efficient. When people bid, whether live or online, they make a commitment to buy the property at that price without discussion or debate.
- No Leftovers and Little Clean Up.
- Every item at an auction goes up for bid and with an auction, there’s no worry about what to do with leftover items because most often there aren’t any.
- Competitive Bidding.
- Whether in a live auction format or an online format, auctions motivate buyers to perform. The competitive spirit of bidding creates helps to drive the price of items higher.
- Exciting Atmosphere.
- People love auctions. There’s no more exciting atmosphere than an auction. Whether you are conducting a live auction event with crowds of people competing for property, or in an online format where extend bidding is enabled at the last few minutes, it certainly creates an exciting atmosphere. People want to participate.
Hiring an Auction Company
When you make the decision to sell by auction, the most important thing you must do is hire a qualified and experienced auctioneer or auction company to handle your auction.
There are thousands of auctioneers throughout the United States who offer a wide range of auction services to consumers. So what do you look for when hiring an auctioneer or an auction firm?
First, look for someone who specializes in selling the type of property you want to sell. All auctioneers have specialty areas and most have more than one. What do they know about the products or goods you are selling? Also, what format do they use…Live or Online? Both are fine, but make sure you understand the different elements.
Experience is another critical element. How long has the auctioneer or the auction company been in business? Are they licensed? Are they a member of their State Association? What is their reputation? Look at their web site and past sales.
When meeting with the auction company:
- Ask about their contract or written proposal. Get details on what is involved.
- Find out how the sale will be marketed. The success of the sale depends a great deal on the marketing effort behind it.
- Ask about setup and cleanup of the auction.
- Ask for references. And when you get them, check them out!
You work hard for your money, but most of us spend the majority of our waking hours working. Our money pays for our homes, our land, our automobiles, insurance, clothes, food, all of our possessions and so much more. So when it comes to selling those possessions and property, the smartest thing you can do is let an auctioneer help you continue to get the value you deserve.
A professional licensed auctioneer knows worth. A professional auctioneer will manage your sale so you can obtain a good value. You work hard for your money, and we will work hard for your money, too.