Services
AUCTION MANAGEMENT:
90% of the auction is completed before the first bid is called. Thus auction planning is extremely critical to the auction's success. The auction manager is selected with experience to the auction type, and oversees all set-up, site locations, catering, and closings, bid calling, auction staff & registration.
Behind the Auction
It's Not Just a Lot of Fast Talk!
There's A Whole Lot More.....
Inventory:
Your merchandise will be inventoried for appraisal, lotting, advertising, cataloging and recordkeeping.
Advertising:
Advertising campaign is setup and handled for you. Depending on the type of auction and advertising
budget, this may include flyers, postcards, catalogs, direct mailings, newspaper ads, trade publications and even
web pages and TV spots.
Property Make Ready:
Your merchandise will bring more money when it is in top condition. We take care of the cleaning and minor repairs
for you. Property make ready is an important part of the sale because it increases value and demand for the property
by improving appearance and operating condition.
Site Selection:
Proper Auction site selection is the key to provide accessibility and comfort to increase number of buyers,
and to ensure maximum length of buying time. It also allows the auctioneer to manage
and control the sale and provide for proper security.
Site Preparation:
Another important part of the auction is the appearance and setup of the site. A good auction site
needs plenty of parking, plenty of seating (if applicable), a neat and orderly appearance for best
display of all merchandise, as well as, controlled access and exits for security.
Lotting:
All merchandise to be sold as is lotted (listed and numbered)for recordkeeping. Also smaller items
can be grouped to speed up the process. This will help keep the auction and excitement going, and keep the interest
of the buyers.
Registration:
Registration of buyers and issuance of buyer numbers is the system used to call and record purchases. It
allows documentation of financial requirements such as letters of credit, cash terms or prior approval. Also it
provides the means for meeting sales restrictions such as dealers only, admission by fee only, possession of
required license or registration and to verify sales tax exemptions.
Clerking: (click here)
 An auction clerk is responsible for recording the item sold, the purchaser (by buyer number), and the amount
bid. This information is passed to the cashier for totaling buyers purchases for collection.
Cashiering: (click here)
 The cashier for the auction totals the purchases of each buyer, calculates sales tax as applicable, collects
monies owed, issues receipts for purchases, verifies financial arrangements, and completes auction settlement sheet.
Bid Calling:(click here)
This is the part of the auction everyone recognizes. Here is where the excitement is built and the bids go up. The
auctioneer is normally saying two numbers - the amount he currently has bid, and the amount he is asking
for the next bid. The rest is just filler words. Listen for numbers and ignore the rambling (filler words)
Ring Worker:
Ringworker(s) are provided to assist with taking bids. This allows better coverage to help insure that all bidders
can be seen and that bids are not going unnoticed.
Property Check Out:
Control of property is maintained until purchases are paid for. In order for a purchaser to obtain merchandise on
which they were the successful bidder, they must first pay for the merchandise and present a receipt.
Security:
Security must be maintained before, during and after the sale. Controls are put into place to insure that
merchandise is safeguarded until the completion of the auction and collection of funds are complete. Part
of this includes check-out service during and after the sale.
Accounting:
You are supplied a full accounting of the receipts, sales taxes paid, costs and commission, along with your proceeds from the auction.
Escrow Account:
All monies are maintained in an escrow account until full accounting and final settlement has been completed.
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