What are the advantages of Auctions over other sales?
The ancient Romans coined the word "auctio"--a sale by increase of bids -- and people have been getting caught up in the excitement of bidding and buying ever since. Auctions encompass an appealing rural flavor, the festivity of neighbors getting together and a greater degree of personal involvement than is present in other kinds of sales. In addition, the competitive bidding process encourages higher prices than one-to-one bartering. Therefore, auctions really do mean more interest, more people and more money for whatever you want to sell...with less time and trouble on the part of you, the seller. Compared with other kinds of sales, auctions are the fastest, easiest and least hassle. Auctions consistently draw large crowds; besides those who see the auction notice in newspaper classified ads, many people are attracted by word of mouth, day of sale signs or just driving by and seeing the crowd. Over the years more and more people have chosen to check out upcoming auctions on their computers. The entire sale can take place in one day, and you needn't even be there. Most auction transactions are cash and carry--you get your money immediately.
Who should consider holding an auction?
Business, industries, farmers, government agencies and individuals have all benefited from the auction form of sale. Almost any kind of sale can be turned into a successful auction--estate, moving, going out of business, bankruptcy, government liquidation, military surplus, retail inventory reduction or liquidation, even spring house cleaning!
What kinds of items sell well at auctions?
Almost anything, since auctions attract a wide spectrum of buyers. Some are interested in one specific item or classification of merchandise; many others come out of curiosity and buy spontaneously. Consistently popular items include: cars, antiques, china, crystal, clocks, jewelry, handmade quilts, and other craftwork, tools, guns, stamp and coin collections, dolls, historical memorabilia, and items autographed by celebrities and political figures, fine art, picture frames, lamps, appliances, and other household goods. In addition to personal items, real estate, livestock, farm machinery, office equipment and retail merchandise also bring good prices at auction.
What does the auctioneer do?
Everything! The auctioneer works before, during and after the sale to assure everything goes smoothly and brings the best price. He handles advertising, promotion and all details of the sale. An experienced auctioneer knows the value of the merchandise and is a qualified appraiser. His job is to "sell" the merchandise by drawing attention to its good points and possible uses. His enthusiastic description enhances value and salability, and he may regulate bidding by starting at a certain minimum price. To insure ethical practices, always deal with a reputable auctioneer who is widely trusted in the community.
What is the auctioneer's fee?
The auctioneer is paid a commission based on a percent of sales; this percentage varies depending on the expected sales total. Auctions consistently bring higher prices than other kinds of sales. The bottom line is that your net proceeds will be substantially higher than they otherwise would be. Considering the range if services provided, as well as the greater profit potential, it is well worth employing a professional auctioneer. Steve Freeman and his assistants give the kind of polished performance that keeps auction-goers interested, entertained and, most important, bidding and buying throughout the auction.
Steve is a REALTORtm with CAROL JONES, REALTORS in Springfield Missouri. Visit caroljones.com