There are a number of reasons why a business chooses to liquidate their physical assets. Business closure, downsizing under-utilized equipment and upgrading are some examples. Hiring an auction company can be a convenient solution however, it may be difficult to determine what you should expect from the auction company you entrust with this task. So, what does the auction company owe to their client?
A Proper Legal Contract
First and foremost, you should have a contract which spells out the agreement between you (client/seller) and the auction company. This should include commission structure, buyer’s premium, auction date and responsibilities for advertising, collecting monies, check out of sold merchandise and final accounting.
A Qualified Auctioneer is a Must
The auctioneer should have a good understanding of what they are selling. This is important in establishing market values for your equipment. An experienced and knowledgeable auctioneer will be prepared to obtain the highest value for your equipment
Exceptional Marketing is Essential
An experienced auction company has proven marketing plans for your business equipment. They know how to target potential buyers, have an active social media and repeat customer base. From the time the contract is signed, they should be constantly promoting your sale.
They Need to Protect Your Assets
The auction should be set up in a manner that not only showcases your equipment but protects it during and after the auction. At Daniel Clar Auctioneers, careful thought is given to setting up each auction. Equipment is set up in a manner that showcases and secures the items while facilitating a fast-paced auction.
Friendly and Qualified Auction Staff is Critical for Success
A professional staff make a big difference in the outcome. Auction buyers appreciate a well-organized auction with a helpful and knowledgeable staff.
Confidentiality must be Guaranteed
Maintaining confidentiality is important for the client’s protection. Insights as to why the business closed, auction costs and totals should remain confidential in order to protect the sellers ongoing business and personal concerns.
Excellent Accounting Standards:
Sellers should be provided with a full accounting of the auction. This includes costs to advertise and conduct the auction, inventory of items sold and net proceeds.
Their Loyalty Should be Unmatched
Above all, the auction company should be loyal to you, the client. The priority is your best interest, above their personal gain.
For additional information or a confidential
consultation, please contact Daniel Clar at
619 247-8782 or
E-mail at email@example.com