Auctioneers and their clients face a ?perfect storm? these days. A flood of merchandise from the G.I. Generation is entering the market just as their Baby Boomer children begin to retire and downsize their own property. This property must be marketed primarily to younger generations, who show little interest in antiques and collectibles. Adding to this ?perfect storm? are continuing tough economic conditions.
So of course the first focus of the modern auctioneer is to strive to obtain the best sale price for these treasures in a slow market. The second focus is to work with clients dealing with a range of products such as newer furniture, tools, and household goods which were not sold in any prior estate auctions.
As attendance and bids began to decline, auctioneers realized that survival meant trying different things. One thing that some auctioneers started using was live Internet bidding which would bring in buyers from other parts of the country. During some live auctions, the crowd in the gallery had finished bidding on an item but Internet-based bidders continued to bid up the item. Of course it didn?t take long for auctioneers to realize this modern step could even lead to online only auctions.
The process is very straight forward. The auctioneer goes through a client?s home or business and creates onsite auction ?lots? (one item or a group of items being sold as a single unit). They take six high resolution photos of each ?lot? and describe the lot in a catalog created on a laptop computer. Photos and the catalog are uploaded into a virtual auction at the firm?s bidding website.
These auctions are marketed via email blasts to approximately 40,000 unique buyers who have registered directly with the company. They are also posted on major Internet auction portals. Registered bidders bid 24/7 from the comfort of home and office computers or smart phones.
These auctions even have a dynamic ending similar to live auctions. In other words, if a bidder puts in a new bid within 2 minutes of the close of an auction, the auction is automatically extended for 2 more minutes to allow other bidders to place a counter bid.
Online Only Auctions are now auctioning a huge range of personal property, real estate, industrial and commercial equipment, vehicles, etc. They truly sell the earth and everything on it.
Paul Stansel is known as the CT Auction Guy. He offers live auctions and online auctions. He travels throughout New England, where he has conducted hundreds of successful estate & personal property auctions, benefit & fundraising events, and commercial/business auctions. You can register for CT Auction Guy?s upcoming auctions on his website.
Source: http://www.businesslistingnow.com/blog/sell-almost-anything-with-a-modern-online-auction/
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