As a young boy growing up on a dairy farm, I used to tag along with my Dad to the cattle and farm equipment auctions. It was always a thrilling experience watching my dad bidding on cattle and items for his farm.
I had a difficult time keeping up with the auctioneer, but not so much trouble eating the peanuts and other goodies from the food vendors.
Auctions create a great deal of excitement as buyers seeking a bargain try to out bid each other until they just can’t stand to bid any higher.
That bidding competition is what drives the price to establish the true market value of the item being sold for that time and place.
The advent of internet online auctions has brought some major changes to the auction industry. The bidding excitement is still there, but the peanuts and the face to face contact between the bidders and the auctioneer have disappeared. Kincaid Auction Realty has embraced this change and now is conducting mostly internet auctions on a worldwide platform.
- The concentrated auction promotion draws attention to the sellers merchandise.. Prospective buyers are enticed by the hope that they will get a bargain.
- Liquidation is quick. Typically the marketing period for an auction is less than thirty days. The seller knows he will have his cash now rather than waiting,
- The seller controls the time, place, and terms of sale There is no guessing about when his merchandise will sell and under what terms.
- No returns. No refunds. At the auction typically, the buyers know they are buying “as is”.
- The only thing the seller does not control in the process is the price. That is an advantage, because he does not have to guess what his merchandise is worth. In a conventional sale, if the price is set too low money is “left on the table”. If priced too high, the merchandise languishes unsold in the marketplace. “Time is money” and the longer it takes, the more money is lost.
How We Insure Auction Success
- Research – Every auction has a different set of challenges, Not only do we research the products we are selling, but most importantly, we try to determine who our buyers will be.
- Preparation – One of our first steps is to inventory, photograph, and catalog the merchandise to be sold. This step is particularly critical in preparing for an internet auction, because the buyers are not standing there looking at the merchandise. We have to paint the picture for them.
- Promotion – After we determine our audience, we develop the most cost effective marketing strategy to reach them. Today, most of our marketing is conducted on line with email blasts, social media, website posts, and listings on the various auction calendars.
- Execution – Our highly trained experienced staff knows exactly what to do to maximize the returns to our sellers in both live and internet auctions.
- Followup – After the auction, we collect the money from the buyers, assist them with picking up or shipping of their purchases. We provide a fully computerized accounting to the sellers. Proceeds are disbursed within ten business days.
Call today for your complimentary confidential assessment!
(863) 666 1977
The advantages of each type of auction are briefly described in the links below.