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Restaurant Resale

    Why should I sell at auction?  The auction method of marketing has been proven an effective price-setting mechanism that takes into account current market variables.  An auction brings together buyers who will bid competitively, and that competition stimulates prices that no other method of marketing can produce.

    Who should I hire?  Selecting the right auctioneer will be the direct success of your auction.  Choose a professional, full-time auctioneer/auction firm.  Today, auctioneers must be skilled and knowledgeable to properly advertise and market the product that he/she is selling.

    What does absolute auction mean?  The term absolute auction (or auction without reserve) means the property is sold to the highest bidder regardless of price.  This is the most effective auction for the seller and the buyer, since a sale is guaranteed, and buyer excitement and participation are heightened.  It generates the maximum response from the market.  Many sellers, including financial institutions and government agencies, have begun using this method.

    What is a buyers’ premium?  An additional amount (most often a percentage) of money the successful bidder is required to pay.  Fully disclosed prior to the auction, the buyer premium is added to the high bid price (hammer price) to create the contract price.

    When is the best time to sell?  Anytime!!  Buyers are ready to purchase property whenever it is available.  Today's auction professional is ready for an auction at anytime during the year.  With tents, he/she provides cover from the summer sun, as well as a closed-in area from the winter cold and rain.

Contact Classic Auctions to answer other questions you may have or to conduct your auction.



 
 
Tony Furr
704-791-8825
tonymfurr@gmail.com
NCAL 5508, NCREL 168339
SCAL 2893R
 
Melvin Huneycutt
704-791-8832

NCAL 6058, SCAL 3266R

 
John Daniels
704-507-1449

johnclassic3@gmail.com
NCAL 6163, SCAL 3774R

Classic Auctions - 201 South Central Ave. Locust, NC  -  704-888-1647  -  Co. License NCAF5479 - NCREL C19000



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