There are a variety of auction types that may be held in order to liquidate assets. Some assets that can be liquidated may include things such as include jewelry, tools, equipment or land. Most auctions held are ascending price auctions. This is where bidders compete to see who is willing to pay the most for an item. The highest bidder will be the one who will pay for and own the item being auctioned. Here is what to expect when hiring an Auctioneer in Edmond Oklahoma.
Getting top dollar for assets is one of the main goals when holding a public auction. Your initial contact with the Auctioneer in Oklahoma will begin with them asking a bunch of questions. They will need to gather information the items that need to be sold. After the initial contact, the auctioneer and their affiliates will likely want to take a complete inventory and take photos of items that will be sold. This will be an initial inventory list will be made.
Advertising the Auction
A professional auction company will provide ample marketing and advertising for an upcoming auction. The advertising efforts are often noticeable online on various classified ad websites, public news venues and several different social media platforms. It is not unusual to see auction advertisements on fliers that may be an insert for local newspapers. Direct mail is another effective marketing method used to ensure a successful auction.
What Not to Do
Do not offer items in a private sale. This is especially true once the auctioneer is actually hired. The representatives from the company will share specific instructions on what the property owner should and should not do. Owners can expect to receive questions from many people who may be interested in some of the items that will be sold. It is best not to share any information with anyone. Doing so could have a negative impact on having a successful auction.
Professional auctioneers know what steps are necessary which will enable a successful and profitable auction. Always make sure the terms and conditions set forth by the auction company are fully understood by all parties involved. This is the best way to avoid any misunderstandings. Visit the website to find out more information about auctions that include entire estates, personal property, equipment or other items that need to be sold. You can also visit them on Facebook.