Selling Your Personal Items
With an auction, you know exactly when your goods will be sold.
Unlike garage sales or tag sales, items are offered for sale during the allotted auction time. There is no waiting for buyers to make offers. Plus, all your items are offered…not just the most desirable ones.
Creates a Sense of Excitement
Auctions create a competitive atmosphere among bidders. Often, people say the most exciting part of an auction is the “winning” of an item. This sense of competition often increases the price obtained for items at auction.
An auction sets the market value of an item through competitive bidding. There is no need for a seller to set a price or “haggle” with the buyer. Items at an auction are sold “as is.”
Not sure you have enough for your own auction?
Call us and let us come to take a look. We often do consignment auctions where we offer your items with another seller to create a bigger auction.
Don’t have space or parking for an auction?
No problem. We can move your items to another location.
Selling Your Home/Real Estate at Auction
Real Estate at Auction is a dynamic and high-visibility method of marketing your property. You will get more exposure in a short period of time to accelerate the sale and get a top dollar price through the competitive bidding of interested buyers.
It’s fast. It’s date certain. It’s convenient. And it’s all done on your timeframe.
Benefits to the seller
- The seller dictates the terms of the auction. This includes whether you sell with a “reserve” minimum price or sell “absolute” for the highest bid the day of the auction.
- The bidding process ensures that the property will bring fair market value. An added benefit to this is that there is no lengthy negotiating needed on the part of the seller.
- The auction sets a hard date on the sale of the property. This deadline also creates a sense of urgency with buyers and lets you know when the property will sell.
- The sale is not contingent upon inspections or financing. This relieves a lot of the hassles associated with traditional real estate listings. Buyers have the opportunity to do inspections prior to the auction, but on auction day the property is sold “as-is.”
- It creates competition among buyers. When multiple parties are interested in a property, often purchase price can exceed that of a traditional listing.
- Requires potential buyers to pre-qualify for financing. The winning bidder at an auction is required to make a sizeable non-refundable deposit. This makes it imperative that potential buyers have their financing lined up before the auction.
Benefits to the buyer
- Properties are purchased at a fair market value that is determined by competitive bidding.
- Auction process eliminates long negotiation periods.
- All buyers compete fairly with the same terms.
- Auction reduces the timeline as purchasing and closing dates are known ahead of time.
- The buyer knows that the seller is motivated.
Types of Auctions
Property is sold to the highest bidder. Since there is no minimum bid on the property, potential buyers’ excitement and participation are heightened. It establishes the true market value of a property on a date certain.
Seller has the right to accept or reject the highest bid on auction day. This type of auction reduces the risk of the seller, but also can reduce the excitement of buyers since there is no guarantee that the property will sell on auction day.