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About Auctions and Choosing an Auction Firm

Posted on October 19, 2023 by Harold Weier

If you are likely to buy/sell merchandise, or have obtained one before, you understand how hard it really is to snap a deal and how stressful this technique can be. Most of us have something to understand about auctions. It creates no difference in the event that you never attended an auction or never participated within an online auction or you're a practiced veteran of both. An auction is not only about buying/selling merchandise, it's about meeting your organization goals. Live auctions may seem like simple affairs lasting several short hours. But also for the Auction Firm, there's lots of groundwork involved. So be cautious while choosing an auction firm they need to find out about your merchandise, your market as well as your expected auction proceeds.

Think about the following whenever choosing an auction firm

  • May be the auction firm experienced?
  • Are they professional & ethical?
  • Are they well respected and recognized within their profession?
  • Have they established a big clientele of satisfied customers?
  • Do they will have a satisfactory staff of full-time professionals?
  • Have they got a spacious live auction facility?
  • Can they work closely and understand you better or have clear knowledge of your organization processes.
  • Have they got an enormous buyer database (with the potential to get serious buyers for each item), contacts with local businesses lead to excellent word-of-mouth publicity?
  • Do they offer consistent, superior service to both buyer & seller?
  • Can they easily conduct an on-site auction but still provide latest in technology?
  • Do they use every possible communication technology like radio, the web, direct mail, newspapers, and effectively use other print media to create your auctions.
  • Are they an associate of these State and National Auctioneers Association? Some auctioneers aren't acceptable to the Associations. (Worth investigating)
  • Do they attend continuing education class to raised serve you also to continue dated using what is happing in the auction industry?
  • Can they produce record-breaking results and acquire top dollar for the items?
  • How to proceed during auction day

  • Once you register require a copy of the Conditions of Sale and thoroughly inspect them.
  • Ask the auctioneer or the Auction Alliance team any relevant questions prior to the sale.
  • Ask relevant questions at the designated question time.
  • Watch, listen, ask and bid only once you are feeling comfortable to take action.
  • Some auction houses are notorious because of their complicated fee schedules, which will make it an easy task to tack on hidden charges later.
  • So discuss everything openly before hiring an auction firm.