I
am worried that some of my items will sell too cheaply. How do I guard against this?
Many times we tend to focus on one or two items,
when in reality we need to look at the overall picture. Some items may sell for less
than you feel they are worth. However some will sell for more than you thought.
In a properly advertised and professionally conducted auction, fair market value
will be received.
I
could have a yard or tag sale and avoid paying the auction commission. That should
save me money.
You can conduct your own yard or tag sale.
Much of what you offer will not be sold due to improper pricing or being less desirable
merchandise, or for some other reason. If you have your own sale, the best you
have will be picked over. What is left may be less desirable or damaged. At this
point, you may now want an auction firm to sell what you
have left. A reputable firm will not take these left items and you have done
yourself a tremendous disservice, and not
achieved your goal of converting all your assets to cash. Not to mention, at your
sale you have not created the competitive market of the auction, and therefore, not
received full market value for your items. Always remember, IT DOES NOT COST TO HIRE
A PROFESSIONAL, IT PAYS!
What
items should I sell at Auction?
Any real or personal property you would like to
convert to cash quickly are items that can be sold by the auction method of
marketing. Always bear in mind that the auction marketing method offers you, the
seller, the ultimate unlimited marketplace.
Should
I offer my Real Estate with a Realtor before offering it at Auction?
If you have Real Estate to sell, offer it at
Auction first. It is better to have several interested buyers competing for the
privilege of owning your real estate, than having buyers coming at you, the seller, one at
a time with offers trying to get you to lower your price. Have realistic
expectations. Set realistic reserves. The process of selling Real Estate at
Auction is less time consuming, and fair market value can be realized.
How
do I know which Auction Company to hire? Should I hire the Auction Company with the
lowest Commission? Why? Why not?
Choosing an auction company should be done with the
utmost of care. Remember these are your assets, your savings and should not be
entrusted to a firm that is not qualified to convert your merchandise to the most cash
available. Make sure the firm you choose is a full time company, not one that has to
fit your auction schedule around their regular job for their convenience. Look in
the local papers at the auction ads for several weeks. Find out who is having the
auctions. Inquire if your prospective firm are members of any professional
organizations, such as IAA, or NAA. Firms belonging to these organizations are more
apt to be updated on any legal changes, and any marketing updates or trends that could
possibly affect your auctions. Ask for references.
Should
I hold my auction on my property, or should it be moved to another facility?
At Prairie Creek Auction, we can hold your auction
on your sight, move it to our auction facility, or some other locality as the
circumstances dictate. We have everything needed to assure you of a successful
auction.
These points and others can be
discussed with you in confidential detail.
We would be glad to do so at your convenience.
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