Auctions
From auctioneers to accountants and ring-men in between, the CIA Industrial team provides personal, professional and courteous service to you and your buyers alike. With 60+ years of experience in the business, our team brings extensive knowledge and expertise to ensure our clients have a pleasant auction experience. We’ve sold hundreds of millions of dollars’ worth of machinery, equipment and real estate at auction, and our client base spans the continent.
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.
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.
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.
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.
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.
Auction Types
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.
The Auction Process
We’re committed to providing the information and insights you need to get the most out of your auction experience and to know what can be expected throughout the process. Below are the major steps in the timeline that spans before, during, and after auction day.
01
Initial Consultation
02
Site Visit & Evaluation
03
Review Auction Proposal Options
04
Contract Execution
05
Select Auction Date
06
Site Preparation
07
Auction Promotion
08
Inspection
09
THE AUCTION
10
REMOVAL OF ASSETS
11
SETTLEMENT
Upcoming Auctions
- 6/26/2024
- Elk Grove Village, IL
- 7/18/2024
- Martin, TN
- 7/23/2024
- Amsterdam, NY
- 8/8/2024
- Soquel (Santa Cruz), CA
- 8/14/2024
- Willoughby, OH 44094
Magnaflow
We conducted a webcast auction for performance exhaust manufacturer, Magnaflow, which was based in Lavonia, Georgia prior to the plant closing. This auction featured a variety of CNC Tube and Wire Benders, Cold Saws, Welders, unused coil and pipe, and other toolroom machinery.
BEFORE
AFTER
Our Past Clients
CIA Industrial conducts about 60 auctions nationwide annually, and has for the past 20 years. Our clients range from Fortune 500 companies to small businesses, lending institutions and government agencies, and span a variety of industrial markets. We are deeply invested in every client relationship we’ve built over the years and take pride in being a partner in their success.
FAQ
How do I register to bid online for an auction?
Online buyers can follow the "Bid Online" button located on the Auction's specific webpage. If you're not already a Bidspotter user then you must create a user profile with bidspotter.com. If you are already a user with bidspotter.com then you must register for the individual auction so that you join the online bidder approval process.
How do I know if I am approved to bid online for an auction?
Once you register for the individual auction through bidspotter.com CIA will be notified. CIA will contact you via email with the additional requirements needed to be an approved online bidder. Once you meet the additional requirements for an auction you will receive an email from bidspotter.com stating your approval status.
Glossary
Choice
This is when the auctioneer is selling more than one similar lot. High bidder has the option to pick and choose individual lots out of the lots being offered. Multiply the final price by the number of lots chosen.
Privilege
This is when the auctioneer is selling more than one similar lot. The high bidder has the option to take as many lots as they want in order. Multiply the final bid price by the number of lots chosen.
Subject to bid confirmation
When an item has this designation, we will offer at the auction and receive a high bid for the item, we will take that high bid to the owner and they will have 24 to 48 hours to accept, reject or counter the offer.
Get In Touch
We are a nationwide provider of asset disposition, auction and appraisal services with thousands of satisfied clients and customers. Contact us today to learn more about our team, services, and how we can help your success.
