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.