The Auction Method of Liquidation
THE WORLD OF AUCTIONS, BOTH TRADITIONAL & ONLINE IS SEEING GROWTH LIKE NEVER BEFORE
Auction Houses in the US Industry Trends (2016-2021)
Over the five years to 2021, the Auction Houses industry is expected to be able to expand revenue, despite headwinds that were created as a result of the COVID-19 (coronavirus) pandemic. This industry consists of third-party dealers that organize auctions for items, which are often considered to be rare or highly sought after. Industry operators add value by being able to match buyers to sellers, handling payments and certifying the authenticity of items sold at auctions. Overall, industry revenue is anticipated to grow at an annualized rate of 6.9% to reach $6.8 billion in 2021. (Courtesy: IBIS World)
Demand from Both Sellers and Buyers for the Auction Method (Online & Traditional) Has Increased Dramatically
The “auction method of marketing” is a great option for a seller to consider when they need or want to sell the contents of their home or sell their home. An auction is a great selling tool for just about any situation such as estate liquidation, retirement or a move to another location, foreclosure, bankruptcy or divorce. For centuries, auctions have been one of the oldest forms of selling.
Auctions provide:
A speedy process. There’s no doubt that an auction is the fastest sales process around. It’s quick and efficient and that’s what makes it attractive. We sell a multitude of items in a short time.
Certainty of Knowing What You’re Getting. Auctioneers deal with a wide range of merchandise. They are educated professionals who know value and price. Many have special certifications in personal property or estate appraisals.
Honesty of the Transaction. Auctions are very organized and the rules are straightforward. Auctioneers who are members of the National Auctioneers Association, as I am, are bound by a code of ethics that protects consumers against unfair auction practices. (courtesy of the National Auctioneer’s Association)
Advantages of Auctions
Here are a few reasons you might want to consider having an auction:
It provides a very competitive atmosphere, resulting in top dollar.
Buyers come prepared and willing to buy.
The auctioneer sets the price of the item or property and there is no haggling.
If you are selling real estate, your property can be sold as is where is, so you don’t have to make home improvements before sale.
Your personal items or property is sold in one day.
If your location is suitable (pertaining to zoning and any HOA rules and regs) for an on-site auction to liquidate the contents of your personal property, or you want to sell your real estate through auction (this service is provided in tandem by a realtor and auctioneer), please contact me for more information.
