Advantages of Online Auction vs. Traditional Method
1. DEFINED TIME TO RUN YOUR ESTATE SALE
With a determined Auction date, we know precisely what date your items will sell. The Auction date creates a sense of urgency with potential buyers and the auction process will put your possessions in the spotlight for all to see.
2. GET TOP DOLLAR FOR YOUR ESTATE SALE
The auction method can capture the momentum of the market as buyers pay premium prices. This upward momentum not only assures top dollar for the Sellers lots, but also attracts a vast number of potential buyers for your items. Auctions work best when bidders are allowed to make their own decisions regarding a property’s worth. If, after the competitive bidding process of the auction, the final outcome should fall short of the seller’s "reserve" expectations, the seller still has the advantage of accepting the offer.
3. PRECISE MARKETING STRATEGY
The marketing strategy for the sale of estate sale and business items at auction is more customized to locating potential buyers. We utilize a multitude of marketing channels such as Facebook Groups, Estatesales.net, and many more! This targeted and customized approach is designed to build value and create interest in the auction. There are no marketing fees for the seller. This marketing campaign becomes the driving force for a successful Auction.
4. COMPETITIVE BIDDING
In the auction process, the price of the lot is negotiated upward through the competitive bidding of interested buyers. The current market value of the lot is what a buyer is willing to pay at the time of sale. Auctions establish this value and eliminate guesswork in determining the asking price through negotiating multiple offers one at a time. This removes the possibility of under the table deals and ensures transparency through the process.
5. LIMIT SELLER LIABILITY
When property is sold using the auction method, there are usually no contingencies. The property is generally sold “As-Is, Where-Is” with no warranties other than title. The sale of the property is not subject to financing or repairs. This limits the liability and further financial obligations by the seller. Auction terms and conditions are set by the seller and AuctionsLI prior to the auction.