Why sell at auction?
Auctions are the most unique and valuable way of selling almost any type of real or personal property.
Some of the most popular auctions are those that involve household items, or livestock or antiques. But auctions involve so many more possessions: automobiles, office equipment, art, machinery, industrial equipment, electronics. One very rapidly growing area is real estate. More and more people are buying and selling their homes and land by the auction method.
Auctions: A Timeless Way To Sell
Auctions are one of the oldest forms of selling property, with a history spanning centuries. And time has only increased their popularity. Research from the National Auctioneers Association shows that auctioneering is an industry on the rise. More than half of the total U.S population has attended a live auction. They provide entertainment, and unpredictability which makes it an event that keeps people coming back.
Buyer's Perspective
All in all:
83% think auctions are an exciting way to get good deals
51% think they offer a great value on items
65% think auctions offer exciting items they wouldn’t otherwise purchase
53% like the excitement of getting a good price
In addition, consumers find auctions fun because they’re a rewarding activity for the whole family to enjoy. On average, consumers are willing to drive 1.3 hours to attend a live auction, with 75% bringing the family when they go.
The Value of Selling at Auction
Speedy Process: An auction is immediate. It happens during a set time and is completed during that time, making it both quick and efficient.
You Set the Time and Place: It’s as simple as that. You work with the auction firm to schedule what works best for you.
Guaranteed Sale: There’s no wondering whether or not your property will sell. It WILL sell, and it will sell during the set auction time.
Powerful Marketing Efforts: Part of conducting an auction is marketing it to the general public to get as many people there as possible. Auctioneers have comprehensive mailing lists they use to run advertisements, distribute fliers, and more. A good marketing effort can easily bring 300 to 400 people to your auction, or more!
Buyers Come Prepared to Buy: Auction goers come with money in their wallets and are prepared to take home some property. It’s a seller’s delight. For real estate auctions, this is especially advantageous because buyers must qualify to buy through a deposit of a certified or cashier’s check.
No Negotiations: There is no haggling over price or merchandise. The auction method is quick and efficient. When people bid, they commit to buy the property at that price without discussion or debate.
No Leftovers and Little Clean Up: Every item at an auction goes up for bid, and every item is sold. How many of you have ever had a garage sale, and when you’re finished, you spend hours packing up what didn’t sell and looking for places to store it? With an auction, there’s no worry about what to do with leftover items because there aren’t any.
Competitive Bidding: Auctions motivate buyers to perform. People get caught up in the competitiveness of the bidding, and many times this drives the price of items higher. To some, it’s like a game, and they want to win at all costs (or hopefully for you, at high costs!)
Exciting Atmosphere: There’s no more exciting atmosphere than an auction. Crowds of people competing for property, combined with that lively auction chant, make for some great entertainment and fun. (Give them a sample of your chant.)
Auctions Thrive In Any Economy
Statistics show that, in a good or bad economy, auctions remain a steady force. When the economy is bad, the auction industry does not feel the impact: people still flock to auctions. People love auctions because they love sales.
