Auction Questions & Answers

Q: Who can benefit from an auction?

A: People quitting business who want to sell their equipment and inventory.

Companies wanting to reduce surplus or slow-moving inventories.

Homeowners looking to downsize their assets.

Divorce parties needing to liquidate personal property.

​

Q: What types of property are best to auction off?

A: It honestly doesn't matter. In the auction world, one man's trash is another man's treasure is a very real metaphor.

​

Q: How can I be sure of what my property will bring at auction?

A: No one can be absolutely certain what an auction will bring you. But it's also true that any other method of sale cannot provide that certainty either. Just as a professional appraiser can only give an opinion, not a guarantee, the same is true for an auction.

​

Q: Are you saying that whatever the last bid is, I have to accept it?

A: Usually, but why wouldn't you want to? You'll be getting market value for your property. Auctions advertised "absolute" bring more bidders to the auction!

​

Q: What is market value?

A: Market value is what property brings after being effectively exposed to qualified buyers, and those buyers are brought together to bid competitively against each other under the atmosphere of a professionally conducted auction.

​

Q: Could my personal property bring less than I have in it?

A: Yes, the market may have gone down or you might have paid too much. Depreciation is also a factor to be considered. In either case, authorities say that one of the best ways to recover from a loss is to unlock as much of your existing investment as fast as you can.

​

Q: Who are the buyers at an auction?

A: The market at an auction can be almost anyone. Our auctions usually attract buyers from hundreds of miles away, but also many of your neighbors and local competitors.  We work to create auction fever to bring you the most for your property. Now, with simulcast live/online auctions, buyers can bid from almost anywhere in the world. We use BidSpotter.com for industrial auctions. Other platforms are available to suit your individual needs.