Why Buy at Auction?
Because it’s thrilling, because it’s exciting, because it’s fun, because it’s smart! Auctions have become a desired form of marketing and are now considered a ‘first choice’ of converting real estate holdings and personal property into cash. In one year alone, over $268 billion was sold through the live auction method, according to the National Auctioneers Association. The reasons for the growth are many, but the main reason is that it works!
Other than being one of the most thrilling things you’ll ever do, here’s why you should consider buying at auction:
- Buying at auction has a built-in assurance that you’re buying ‘worth the money’ as you’re only paying one bid over what the next bidder
- was willing to bid
The RAREST & finest antiques, automobiles, real estate and estates are sold at auction - There is no long term negotiating or market haggling
- You know you are competing fairly and on the same terms, through the open forum, as all the other buyers
- You, the buyer, determine the purchase price
- You know what day you’re going to purchase and what day you’re going to close – saving you valuable time
- Possession dates are often immediate
Bidder Tips:
You have done your homework and are totally ready to take full advantage of the auction process
Aggressive bidding gets the job done. Only one bidder can win. You can’t buy at your price unless you bid your price. Most bidders will be thinking in the same price range. The one who bids that number first wins the day.
Why is the owner selling at auction? The auction allows the Seller to get the job done now on a timely basis. To turn his/her assets into cash the most cost effective way possible. Ordinary marketing programs are very intrusive to families/sellers, and sometimes take months or years to get the job done. AUCTION MARKETING TAKES JUST WEEKS!
Buying at auction has never been easier. Buying right is buying at auction!
FIVE SIMPLE MUSTS TO BUYING AT AUCTION:
- Inspect & investigate the property in advance of auction day. Take advantage of previews & open houses.
- On auction day show up early (1 hour before) to register to bid.
- Bring required deposit (cash, cashier’s check or pre-approved funds). Funds are only relinquished if you are the successful bidder.
- Listen closely to the Auctioneer’s instructions. Listen closely to the Auctioneer’s chant. He/she is calling prices as he/she receives them and calling out the next bid available.
- Bid only what you can afford and drop out of the bidding when the price goes higher than you want to pay.
Auctions are fast paced and very exciting. It’s not unusual to be nervous. If you’ve never attended an auction, or are a little nervous, let us know. We’ll help you one on one – we’ll take you through the steps and answer your questions. We‘ll have you bidding like a pro. Typically, bidders prefer to be on site, but when they can’t, we offer live simulcast/internet bidding with all of our live auctions. Of course, all off-site bidders must pre-inspect, pre-register and meet all terms well in advance of auction day. You’re invited to attend any of our upcoming auctions. Get comfortable with the process. Fair warning – it’s addictive.
