Wondering how online auctions can benefit you, as a seller? Why are they one of the best ways to sell property? There are a number of reasons:
Speedy Process, Quick Turnaround
An online estate auction is immediate. It happens during a set time- less than a week, and is completed during that time. It’s structured, quick and efficient. You are paid within 30 days.
You Set the Time and Place of Your Sale
It’s as simple as that. You work with the auction firm to schedule what works best for you.
You Can Watch the Item Being Sold
We give you a link to the auction, and you can view a gallery of photos of your items and see final results.
You Know Exactly When Your Property or Goods Will Be Sold
There’s no wondering whether or not your property will sell. It WILL sell and it will sell during the set auction time.
Comprehensive Marketing of Your Property
Part of conducting an online estate auction is marketing it to the general public to get as many people interested as possible. We subscribe and compile comprehensive mailing lists to market your items to qualified buyers. We run advertisements, distribute fliers and more. We are marketing specialists.
Buyers Come Prepared to Buy
Online estate auction-goers come with money in their wallets, pockets and hands. They’re prepared to take away your property. It’s a win/win.
There’s no haggling over price or merchandise. The auction method is quick and efficient. When people bid, they make a commitment to buy the property without discussion or debate.
Your Proceeds Are Held in a Trust Account until Distributed
No need to be concerned about your proceeds being secure. Art of Downsizing acts as your fiduciary and is licensed through NC Auctioneer Licensing Board with high ethical standards.
Few Leftovers and Little Clean Up
Remember your last garage sale? When you finished, you had to spend hours packing up what didn’t sell and looking for places to store it. With an online estate auction, every item goes up for bid and most items are sold. If there’s anything left over, the auction firm can distribute it to the charity of your choice. This means everything is handled for you.
People get caught up in the competitiveness of the bidding, which often 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!
Auctions Work Well in Both Good and Bad Economic Times
People love auctions because they love sales. Statistics show auctions remain a steady force regardless of the economy. In bad times, the auction industry doesn’t feel the impact: people still flock to auctions.
Online Only or Timed Online Bidding
When a property is being offered with online only bidding (sometimes called “timed online bidding”), bidding takes place over an extended period and all bids are placed online. There is never actually a live auction event. The auction firm monitors all bidding throughout the bidding period, usually five to seven days. Bidders register to bid for a specific property and can place bids at their convenience. For added convenience, bidders have the option of entering a “maximum bid” which allows the computer to automatically advance their bid anytime they are outbid. At the bidding deadline, the highest bidder is declared.
Hiring an Auction Company
When you make the decision to sell by auction, the most important thing to do is hire a qualified and experienced auction company to handle your online auction. There are thousands of auctioneers throughout the United States who offer a wide range of auction services to consumers. So what do you look for when hiring an estate auction firm?
Auctioneers abide by a code of ethics that guarantees high standards to customers and fair business practices. In short, this means you have made the best choice when it comes to liquidation services.
When Meeting With a Potential Auction Company:
- Ask about their contract or written proposal to provide you services. Get details on what is included.
- Find out how the sale will be marketed. The success of the sale depends a great deal on the marketing effort behind it.
- Ask about setup and cleanup of your property after auction.
- Ask for references. And when you get them, check them out!
You work hard for your money. Most people spend the majority of their waking hours working. Your money pays for your home, your automobile, insurance, clothes, food, all of your possessions and so much more. So when it comes to selling those possessions, the smartest thing you can do is let an auctioneer help you continue to get the value the market allows.