Are you struggling to pay bills? This article is designed to provide business owners with ideas that will help them earn extra money and grow their business in a bad economy by selling at auction. Specifics may vary from auction to auction; however, the following information includes helpful and important guidelines from which everyone can benefit.
One of the quickest ways to secure capital from unproductive assets is to sell them at auction. For many business owners, a bad economy means a drop in sales and the inability to grow their business. That's when it's time to get creative. Statistics show that whether the economy is good or bad, auctions remain a steady force. People love auctions, because they love sales. When the economy is bad, the auction industry does not feel the impact because people still flock to auctions.
Auctions help businesses realize the highest cash return by implementing best practice services into their auctions. They have produced millions of dollars for sellers by conducting more than 80 auctions a year, selling virtually every type of industrial, commercial and personal asset.
Auctions offer four types of ways to serve your needs by selling at auction: Live Auctions, Simulcast Auctions, Internet Only Auctions and Private Auctions.
Simulcast Auctions: Live bidders are physically present onsite at an auction compete against online bidders who have either placed proxy bids or are bidding live in real time. This is a common type of auction.
Live Auctions: Only bidders who are physically present at an auction onsite are able to bid. These auctions usually have a notation that reads "Sorry No Online Bidding."
Online Only Auctions: Only registered online bidders are able to bid and complete against other registered bidders. These auctions usually have a notation that reads "Online Only."
Private Auctions: A special setting that hides the identities of all bidders. This means that people cannot see any of the bidders on the item. Private auctions are used when an item is highly collectible (to prevent another seller from poaching a bidder) and to hide bidders' identities on items that could create embarrassment if anyone viewed their recent bids list.
Here are just a few of the benefits of selling your items at auction:
- An auction is immediate. It happens during a set time and is completed during that time. It's quick and efficient.
- You work with the auction firm to schedule what works best for you.
- Your auction will be marketed to targeted buyers with whom we have developled great working relationships and also to the general public to get as many people there as possible. These buyers come with money in their wallets, pockets and hands and are prepared to buy your property.
- Every item at an auction goes up for bid and every item is sold. Your property WILL sell and it will sell during the set auction time. There's no need to worry about disposing of leftover items because there aren't any.
- Auctions motivate buyers. People get caught up in the competitiveness of the bidding and many times this drives the price of items higher.
Having a hard time making ends meet? This article is designed to provide you with ideas that will help business owners save money and in a bad economy by buying what you need at auction. Specifics may vary from auction to auction; however, the following information includes helpful and important guidelines from which everyone can benefit.
Despite the bad state of economy in the United States, business owners seeking office equipment can save money by buying at auction. Many auctions frequently feature items like cars, fleet trucks, computers, office furniture, machinery, tools, industrial equipment, electronics and more. These items sell for much less than retail price and without the hassle of buyer's premiums.
There are many different kinds of auctions. You can bid live and in-person, or you can bid online for things like seized property, police confiscated items, business liquidation items, bankruptcy assets and more. Here are three different kinds of auctions where you can save money:
Simulcast Auctions: Live bidders are physically present onsite at an auction compete against online bidders who have either placed proxy bids or are bidding live in real time. This is a common type of auction.
Live Auctions: Only bidders who are physically present at an auction onsite are able to bid. These auctions usually have a notation that reads "Sorry No Online Bidding."
Online Only Auctions: Only registered online bidders are able to bid and complete against other registered bidders. These auctions usually have a notation that reads "Online Only."
Auctions are conducted on a frequent basis (sometimes several times a week depending on the auction house) and are usually open to the public. You'll find surplus items, commercial machinery and heavy equipment, along with individual high-end estate auctions for trusts and lawyers, offering real estate, fine antiques, collectibles, guns, furniture and household goods. Business liquidation auctions feature overstocked products, industrial restaurant equipment and bankruptcy assets.
To make the most of your auction experience (they are a lot of fun!), you need to know what to do. Here are some auction buying tips that will help you out:
Don't be shy about bidding loud and large. Raise your bid card in the air if you want an item and keep it up until you are done bidding. Make certain the auctioneer is aware you are bidding because the auctioneer may be taking bids from someone in front of or behind you. Once the auctioneer says "sold," the item is gone even if you are willing to continue bidding. There are no do-overs in the auction business. Spotters or ringmen are there to help the auctioneer spot bids and will signal your bid to the auctioneer.
A fast-moving auction benefits both buyers and sellers. Auctioneers have the right to reject any bid amount that would slow the bidding. Auctioneers cannot wait for slow bidders, so know in advance what to buy and how much to spend. Your inability to keep up with the bidding pace is not the auctioneers' concern.
Deb Weidenhamer has sinced written about articles on various topics from Shopping, Property Guide and Shopping. Deb Weidenhamer is President of Auction Systems, the Southwest's most active auction and appraisal company. Learn how to