Auction Options
We offer several auction types to maximize the return for sellers and ease of purchase for buyers. Our staff’s professional management skills ensure that we will meet your needs in an effective and efficient manner, and be with you every step of the way.
LIVE WEBCAST AUCTIONS
A live webcast auction is hosted by an auctioneer in real time, at the office of the auctioneer, and is broadcasted to an audience of bidders. The auction proceeds item by item or lot by lot with no specified time frame. Your bids are automatically received by a remote clerk, who places your bid in real time. Bidders are able to place their max bids before the auction begins if they are unable to bid in real time. In addition to hearing the auctioneer stating the current high bid, bidders will also see the amounts appear on the computer screen.
Bidding will continue (usually at defined increments) until competition for the lot ends. The auctioneer will then move on to the next lot. Some advantages exclusive to live webcast auctions include the auctioneer’s ability to control the flow of the auction, offering choice on alike items, and offers the buyers the ability to engage more with the auction.
TIMED ONLINE AUCTIONS
A live webcast auction is hosted by an auctioneer in real time, at the office of the auctioneer, and is broadcasted to an audience of bidders. The auction proceeds item by item or lot by lot with no specified time frame. Your bids are automatically received by a remote clerk, who places your bid in real time. Bidders are able to place their max bids before the auction begins if they are unable to bid in real time. In addition to hearing the auctioneer stating the current high bid, bidders will also see the amounts appear on the computer screen.
Bidding will continue (usually at defined increments) until competition for the lot ends. The auctioneer will then move on to the next lot. Some advantages exclusive to live webcast auctions include the auctioneer’s ability to control the flow of the auction, offering choice on alike items, and offers the buyers the ability to engage more with the auction.
AUCTION PROPOSAL OPTIONS
It is important to understand your options in order to decide what is right for your unique situation. We’ll be here to help guide you so you can choose what best suits your needs.
Cash Purchase
In a cash purchase, you, the seller, assume no risk and have no interest in the outcome of the auction. In this scenario the auctioneer actually purchases your assets before the auction takes place. In return for the upfront sale, you would agree to allow the auctioneer cost-free use of your premises, for approximately 60 to 90 days, so that they can conduct an auction on their own behalf. Should you opt for a cash purchase instead of co-hosting an auction, you will receive a deposit of the purchase price upfront, upon receipt of your signed contract. The remaining balance will be paid and delivered to you before the auction or removal of any asset.
GUARANTEED AUCTIONS
Guaranteed auctions offer clients a built-in safeguard that guarantees a predetermined fixed amount they’ll receive at auction, and ensures the equipment won’t be given away. This means the auctioneer puts up money upfront that guarantees a specific net minimum return for the sale of your equipment. After the minimum, the auctioneer is reimbursed for auction expenses, and all remaining proceeds will be divided, as previously negotiated, between the seller and the auctioneer. This greatly reduces the risk of any potential downside, shifting the risk to the auctioneer but also allowing the seller to participate in the potential upside.
COMMISSIONS
The most simple and straightforward method of auction is a commission basis auction. In this arrangement, the only fee the seller is responsible for is the set expense budget for advertising, promotion, setup, sale and checkout labor. The set expense budget is not paid upfront, but rather is deducted from the seller’s proceeds after the auction with accounting records. Buyers are charged a Buyer’s Premium, which covers the compensation to the auctioneer. This option offers the most flexibility with changing asset lists.
Real Estate
We purchase and sell at auction large industrial buildings all over the United States for our investment portfolio, and are here to help with your real estate sales needs. We have a database of interested buyers who we can sell real estate to on a commission-type basis, or we can make a cash offer and purchase your real estate directly.
Hire Us
Whether you’re looking to downsize, liquidate your entire business or sell equipment to reinvest, our team of experts is ready to help with all of your asset management needs. We take pride in designing solutions for your unique situation, and delivering results you can rely on.
