What are the benefits to selling at auction?
- Qualified buyers are prepared to buy
- Assurance the property will be sold at fair market value
- Exposes the property to qualified buyers with aggressive marketing
- Creates competition among buyers – Creates a sense of urgency and drives market values
- No contingencies or conditions – Typically sold “as is, where is"
- Aggressive Marketing Campaigns creating a high impact, focused and intense advertising
- Increases interest, visibility and attention
- Prepared buyers - All buyers come prepared to bid and to buy
- No seller negotiations – Auction process provides the highest offer to the seller
In addition to the above, what are the benefits to selling Real Estate at auction?
- Eliminates and reduces long-term carrying costs, including taxes, utilities, and maintenance
- Accelerates the sale; reaches a conclusion – Know your closing date in advance of the auction
- Requires potential buyers to pre-qualify for financing
- In traditional sales methods, the seller must set a top price for their property, known as the list price. All negotiating goes down from that price. In an online auction, bidding begins at a lower price and continues to increase with competing bids, insuring that the final, winning bid is the highest.
- The only costs to the seller are the marketing fee and their half of the closing costs. You pay no commission. The buyer pays our fee in the form of a 10% buyer’s premium, which is added to the winning bid.
What is our commission rate?
Commission rates vary greatly depending on:
- What is being sold as well as the quantity, quality, condition, and desirability of this merchandise or real estate. We don’t charge a commission to sellers when we sell their real estate. Personal property auction commissions vary somewhat as the market today on certain items has changed drastically in the last few years.
- What else is being asked of us to conduct the sale such as packaging, moving, trash removal, cleaning, etc.
- Where the sale is being held/how much travel is involved
- The timeline in which we need to conduct the sale to accommodate the seller.
How do we start the process of selling personal property at one of your auctions?
Typically, we will either ask you to send us pictures or we will come to your location at no charge to view what it is you want us to sell. If you’re not sure if an item has value, please wait for us to see it before you throw it away. We have increased the bottom line results of many sellers by selling items they thought were garbage.
Can I put a reserve price on my items or a minimum starting amount/bid on my items?
Except for real estate or high dollar assets, we start every item on our auctions at either $5 or $10. We rarely offer a reserve price as it tends to limit bidding and almost all of our items sell with no reserve or minimum bids.
How do I consign items for you to sell?
Please fill out the "Contact Us" form or call our office at 608-364-1965. We will ask questions to understand why you want to have a sale, when you need to sell these items by, and what it is you want us to sell. We may want to come out and view these items at no charge to you or may just ask you to send us pictures. Until we have a signed agreement as to what services we are going to provide and how we are going to conduct the auction, you are under no obligation. We may come pick up your items or you can bring them to us depending on this consultation.
What don’t you sell?
We encourage you to call or email us to discuss what you have. There are some items that we don’t pick up or take in because they hold little to no value. You may want to donate them or we can provide a removal service to dispose of these items. Together we will discuss the best course of action to take.
Can we stop by to visit your auction house?
Yes! The best days to visit are Tuesdays and Wednesdays when we have preview times for the public so you have a chance to see and discuss how your merchandise will be displayed. If you stop out on any other day, you will be encouraged to bring donuts to support the flurry of activity our staff is doing known as auction cataloging, setup, or pickup. We strongly recommend calling before stopping by to ensure the right team members are available to discuss your situation.