- Creates urgency. A “call to action” that can’t be ignored or delayed if the buyer wants the property.
- Generates excitement and energy, and encourages a climate of competition that tends to maximize the sale proceeds to the seller.
- Reduces marketing time and costs.
- Minimizes negotiations between buyer and seller.
- Assures fair market price through competitive bidding.
- Provides open, fair, and non-discriminatory bidding environment, greatly enhancing opportunities for all purchasers.
- Provides immediate confirmation of sale.
- Eliminates lengthy, expensive carrying costs
- Provides bankers and forced sale sellers the legal assurance of an arms-length transaction.
The time has long passed when people thought of auctions as a merely means of liquidating assets that could be sold no other way. Today, sellers of high-end homes, commercial properties, businesses and business assets turn to the auction as their first choice in selling their properties and assets. Sellers of products as diverse as radio spectrum licenses, oil & gas leases, specialty machinery, and intellectual property have discovered that auctions are a powerful method for delivering fair market value. Competitive bidding processes vary for different types of auctions, but each has proven remarkably effective in capturing markets and yielding premium results.
Advances in technology have contributed greatly to the power and efficiently of auctions. Thanks to the internet technology, bidders from around the county, country and globe now routinely participate in live auctions. Simultaneous internet auctions mean that bidders in South America can bid in real time on an Indy Race Car being auctioned in Indianapolis. The considerable increase in the the number of qualified bidders at live auctions due to online technology has resulted in significantly increased auction returns.
Auction marketing is the fastest, easiest, and most efficient way to convert assets to fair market value cash. Instead of waiting for an offer that may never come, auction marketing creates a free market environment with qualified buyers on a predetermined sale date. The auction not only provides a powerful live bidding process, but allows the seller the benefit of a date certain for the sale. Inefficiencies related to multiple showings, fruitless negotiations, and extending sales periods are eliminated.