Throughout the generations of the past the auction block has allowed buyers and sellers to meet at a central location to market their goods and determine the market value of a product through competitive bidding. Today the use of the auction method has become an essential tool for individuals and entities to market their assets in the most effective and efficient manner possible.
So Why Auction?
For the Seller there are many reasons that the auction process is superior to the traditional listing:
- Allows the Seller to exceed the asking price
- Reduction of costs
- Faster more efficient alternative to the traditional listing. In many auction situations a given property can be effectively marketed, sold, and closed in a total window of 75 days.
- Auctions are time limited, which gives the buyer more incentive to act. Not allowing the buyer to merely wait the seller out.
- The atmosphere at an auction brings out the competitive spirit in buyers, which raises the excitement level, thus resulting in a higher price for the property.
- The Auction method is flexible; in the sense a seller can market several different properties at one time and sell all properties at one location. The flexibility of the process also allows the Auctioneer to shape the marketing plan of each property differently to best serve the seller.
- The Auction method also has many different alternatives to the type of auction the seller may wish to pursue, ranging from the Absolute Auction, Sealed Bid Auction, or Reserve Price Auction.
- The Auction marketing method is effective with a wide range of products including Real Estate, Timber, Equipment, Personal Property, and in Business Liquidation Situations.