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The Auction Process, Seller Information

Auctions find the Market Value in a timely manner.
  • What ever you are selling there is a "Market Value" for that item. Finding that Market Value and selling the item for that value takes time. The fastest way to sell any asset for it's market value is by using the Auction Process. From the New York Stock exchange to selling used blue Jeans on e-bay auctions are used to create and find the market value.  You could sell the contents of your garage at ten saturday garage sales or you could sell that same contents in one Auction. The difference in the amount of money you would get from stretching the sale over many garage sales to one auction would surprise most people. The Auction process if marketed properly will bring as much or more money than a long drawn out listing of items for sale over a long period of time.
Auctions work!
  • There is a very good reason that the New York Stock exchange is set up as an Auction; it works. Not only does it work but it works good. Any Auction that is marketed properly to the target market of the people that have an interest in purchasing the item up for auction will succeed in bringing the true value of the item being sold. There is also a very good reason why our laws call for property to be sold at auction on the court house stairs when legal matter arise regarding certain assets. The courts understand that the Auction process guarantees a fair market value will be found for the assets being sold.
Is your time important?
  • One of the most important benefits of selling at auction is that it brings all your buyers to one place at one time. The alternative is to list your asset for sale over many weeks, months and even years until your perfect buyer shows up to buy your item for sale. Then if you have hundreds of items for sale multiply that time restraints by each item. Auctions save time and at the same time bring your buyers to you in that one time and place.
Marketing your Auction
  • Choosing the right auctioneer can be confusing at times. One of the most important things you want to find out is how the auctioneer will Market your items for sale. The truly successful auctioneers are experts at marketing auctions. Make sure your auctioneer has a well planned out marketing plan.
Get bids from other auctioneers for your auction.
  • Unless you know an auctioneer personally we suggest you get at least two bids from Auctioneers for your business. Make sure you have each auctioneer lay out their plan on selling your auction. Selling your auction means how will they make sure you get true buyers to show up for your auction. Let's face it if you have an auction but only two people show up besides your family members you are not going to know the true market value of your items up for auction. Find out the Auctioneers commission and what kind of staff he has to help with the auction.
You don't have to sell if it doesn't bring what you want.
  • If there are certain dollar amounts you must have for an item at auction then you can sell that item "with reserve". For example if you are selling a car and you know you have to have at least $3,000 for it after commission then you can put a reserve on the item stating that it must sell for at least that much or it will not sell. The with reserve auction is used at time on high dollar items in order to take the risk out of selling the item for less than what you think it is worth.
The Commission.
  • Each auctioneer has a certain commission they charge. There are two different ways of charging the commission. It can be charged to the seller, the buyer or both. For example if the auctioneer tells you that he charges a 10% commission on all items sold then if you sell $3,000 worth of items the auctioneer will get $300 and you will get $2,700. The auctioneer may charge commission only to the buyer. This is called a buyers commission. In this if the buyers commission is 10% and the items sells for $3,000 the buyer will pay $3,300 for the item, $3,000 for the item and $300 in commission.
Advertising.
  • Each auctioneer has their own way of working out the advertising expense. Some will have you pay the advertising yourself up front and others will pay it out of their commission. Many will do a split and share the cost of advertising with the seller. Make sure you clear this up before you sign up your auctioneer.
Gavel Inc.
  • Gavel Inc. wants to bid your business. We want the opportunity to meet with you to explain you how Gavel Inc. works hard to be the best in the Auction business.
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