Tempe Auction: The Importance of Attracting New Buyers (Part 1 of 2)

January 25th, 2012

To bring a fair market price for a seller, a Tempe auction must attract enough buyers to promote profitable bidding.  It’s great to have regular buyers who show up like clockwork at auction events.  But, you want to be able to also see a lot of new faces.

A Tempe auction must find the right balance of making money for the seller and auction house, but still providing attractive deals for the buyers.  Sometimes that’s a tough feat to accomplish, but a necessary one for successful results.

At a basic level, any Tempe auction must have at least two interested bidders for every item.  This minimum bidding activity will help bring the fair market price for the item being sold.  When only one bidder bids on an item, it typically sells for a price well below market.  This is wonderful for the single bidder, but not so great for the seller and auction house.

The problem with items selling too low on a regular basis is the negative effect it has on attracting and maintaining sellers.  If sellers believe they won’t get a fair price by selling their merchandise at a Tempe auction, they’ll look for another sales channel.

You can find countless stories about the super, unbelievable deals buyers have snapped up.  A car bought for $100 or a diamond ring for $50 helps promote the “dirt-cheap” mentality of auction purchases.  However, if a seller has a diamond ring that’s worth $1,000, they don’t want to take a chance that it might sell for $50!

So, the answer to this dilemma is attracting more buyers so bids for most items can be within market value. With a regular base of shoppers attending Tempe auctions, more sellers will be apt to participate.

Stay tuned for part two of this series. In the mean time, for more information about Tempe auctions, contact Auction Systems today.

 

Tags: ,
Posted in Uncategorized | Comments Off

Police Confiscated Items: How Personal Property Gets Sold at Auction (Part 2 of 2)

January 20th, 2012

This is the final part in a two part series, you can read part one here.

Benefits to Police Departments and Auction Participants

Auctioning items frees up space in police warehouses. It also reduces costs involved in storing, tracking and maintaining property.  And, auctioning unclaimed or seized items brings in much needed revenue to a police department to help them continue fighting crime.

The inventory of police confiscated items to be auctioned can be vast and diverse.  It’s not unusual to find very valuable goods for auction.  Products can range from cars and household goods, to jewelry and art.  By far, these auctions provide one of the richest assortment of confiscated items.

In addition, police auctions are held on a regular basis.  With police confiscated items stacking up as a result of ongoing criminal activity, you can expect auctions to be held at predictable intervals.

So, it’s typically easy to plan your purchases around auctions when police confiscated items become available.  You not only can get a special item at a reduced price, but you can also re-sell any great deal for a profit.

However, the major advantage of buying police confiscated items is you’ll often find amazingly low prices.  Since profiting from selling seized items isn’t the primary motive, police departments are more willing to liquidate warehouse inventories and sell items a lot cheaper than normal.

For additional information on police confiscated items, contact Auction Systems today.

Tags: ,
Posted in phoenix auctions | Comments Off

Police Confiscated Items: How Personal Property Gets Sold at Auction (Part 1 of 2)

January 17th, 2012

Many people may not understand how and why an auction is conducted to sell police confiscated items.  Some may be surprised to learn the large amount and variety of property confiscated during law enforcement raids.  After seizing items, either a police department or a contracted auction service will sell the goods at auction.

Confiscated items end up in police possession in a number of ways.  Stolen goods may be recovered and unclaimed.  Local law will dictate how long a police department has to keep stolen goods they recovered while they wait for the rightful owner to claim them.  Once that period has elapsed and the item remains unclaimed, police agencies are free to auction property to the highest bidder.

Another source of police confiscated items results when criminals are arrested or suspected of unlawful behavior.  Because some acts come under the “civil asset forfeiture” provision, police departments can seize property associated with a number of offenses.  When this happens, police departments can keep the confiscated items or sell them at auction.  They often do the latter as a matter of course.

If a person commits a crime, the police department can confiscate any property used in conjunction with the crime.  Police confiscated items are most typically associated with drug crimes, but they can come from any suspected illegal activity.

Further adding to the volume of items available for auction is the way civil asset forfeiture works.  Police confiscated items can also result from the suspicion of illegal activity.  A suspect doesn’t have to be found guilty in a court of law before property can be seized.  Police officers typically have wide latitude to seize any property they suspect was used in connection with a crime.

As a result, many suspects, whether found guilty or not, don’t reclaim their police confiscated items.  In this case, police departments are free to conduct an auction and sell items to the highest bidder.

In part two of this series, we will discuss the benefits of police departments and auction participants. For more information, please contact Auction Systems today.

Tags: ,
Posted in police auctions | Comments Off

City Surplus Auction: How to Take Advantage of Buying Opportunities (Part 2 of 2)

January 11th, 2012

This is the final part in a two part series. To read part one, click here.

What Can You Find at a City Surplus Auction?

Many people aren’t clear on what “surplus” means when referring to a government auction.  Basically, any property in possession of a government agency that they no longer need can be auctioned to clear inventory and raise funds.

Sometimes items must be auctioned because the city has left over materials from a project or they overestimated a quantity of items purchased for particular use.  Or, they’re replacing old or outdated equipment.  Whatever the reason, the city no longer needs the items and must make room in their facilities.

Attendees can expect to find almost anything of value at a city surplus auction.  Any unwanted item is sold to the highest bidder and you never know what you’ll find. These items typically include cars, trucks, office equipment, furniture, computer equipment, electronics, building materials and more.

Because municipalities have several different departments, item variety is a major attraction.  Some of the more unusual things you might find include changing room lockers, street signs, playground equipment, cleaning equipment, cafeteria equipment, among many others.

Besides providing great deals for auction participants, a city surplus auction generates proceeds that go directly back to the municipality.  By earning additional revenue, a city government can stretch its tax dollars further.  With more available funds, municipalities can support additional city projects and constituent services.

Often you won’t find a better place than an auction to find a bargain.  And, a city surplus auction can be one of the best auctions for deals.  One thing is certain at a surplus auction:  there’s usually something for everyone, even if you didn’t have anything in mind when you show up!

For more information or to find a city surplus auction in your area, contact Auction Systems today.

Tags: ,
Posted in city surplus auction | Comments Off

City Surplus Auction: How to Take Advantage of Buying Opportunities (Part 1 of 2)

January 9th, 2012

A city surplus auction is one of the best places to save money on purchases.  You can find items for your home or business at often deeply discounted prices.  Since these auctions offer a large variety of merchandise at relatively low prices, many people take advantage of these buying opportunities.

In some cases, people attend a city surplus auction to buy cheap items and then re-sell them for a profit.  If you expect to re-sell an item, it’s important to understand what people may be interested in buying.  In other words, what’s hot!  By knowing what you can turn quickly, you can focus on getting those items at the best possible prices.

This practice can turn into a fun and rewarding business. Either way, a city surplus auction provides an exciting way to get real bargains.

How to Participate in a City Surplus Auction

A city surplus auction typically has few requirements to bid.  If you’re over 18 years of age, you can place bids on items of interest.  In general, all you need is a valid driver’s license.

However, if the auction is conducted by an auction house on behalf of the municipality, you’ll need to familiarize yourself with specific policies, procedures and requirements before bidding.  In some cases, you’ll need a credit card on file to pay for your purchases.  Make sure to check the auction service’s website for details and schedules for upcoming auctions.

In part two of this series, we will discuss what types of items you might be able to find at a city surplus auction. For more information, contact Auction Systems today.

Tags: ,
Posted in city surplus auction | No Comments »

Arizona Seized Property Auction: How to Buy Items from Government Auctions (Part 2 of 2)

January 5th, 2012

This is part two of a two part series. To read part one, click here.

How to Find an Arizona Seized Property Auction

To find a local government auction, you might want to start checking online.  Several websites exist to provide information on upcoming auctions.  Some of these sites require upfront fees to search listings in your area.  Although you can pay to have a service compile lists for you, it’s easy to do the legwork yourself.

Start with checking the auction service companies in your area.  They will have a list of the auctions they’re hosting, as well as detailed information on the items and auction requirements.  You can also visit websites of government agencies.  If they hold auctions regularly, they will likely have a section on the site devoted to upcoming auctions.

 

Suggestions for Participating in an Arizona Seized Property Auction

Once you locate an upcoming auction and view the available items, you need to plan on inspecting anything you’re interested in bidding on.  Each auction will have its own rules, so be sure to learn how the auction will be conducted.  In almost every case, an Arizona seized property auction will not refund money to winning bidders who have an issue with their purchase after the fact.  If you bid and win, you’re responsible for purchasing and transporting your winning items.

After doing your homework to understand an auctions policies and procedures, you should have a good handle on how the bidding will be conducted.  Make sure you have a maximum amount in mind for any item of interest.  It’s sometimes easy to get caught up in the excitement of a live auction and over-bid.  After the Arizona seized property auction, you’ll have to pay for any items you won and arrange for pickup.

An Arizona seized property auction tends to offer property that sells well below recognized retail levels or even below wholesale.  In most cases, agencies are willing to sell items below value to liquidate assets quickly.  If you’re in the market for a special item, a government auction is a great place to find unique items at low prices.

For additional information or to find an Arizona seized property auction in your area, contact Auction Systems today.

Tags: ,
Posted in auction systems auctions | Comments Off

Arizona Seized Property Auction: How to Buy Items from Government Auctions (Part 1 of 2)

January 2nd, 2012

An Arizona seized property auction often takes place when a government agency seizes property of an individual found guilty of a crime. Most property is seized due to smuggling, drug trafficking, money laundering, credit card fraud, food stamp fraud, mail fraud or other illegal activity.  During raids, personal property is often seized.  The agency must then unload the millions of dollars of confiscated property in auctions.

Other sources of seized items include personal property and business assets ordered sold at public auction for tax reasons. Also, assets used as collateral can be seized by banks and other lending institutions for non-payment of debts.  In addition, banks liquidate property abandoned in safety deposit boxes.

You’ll find all sorts of property seized by these government and institutional sources.  Items include real estate, vehicles, jewelry, fine art, antiques, electronics and pretty much anything of value.  In fact, if you’re interested in buying a large-ticket item like a home or car, an Arizona seized property auction would be a smart place to check out.

Government auctions are free and open to the public.  These auctions provide a perfect venue for getting great deals.  Since government agencies often have no use for the items they seize, you’re likely to pay a lot less for them.  And, any money you spend at an Arizona seized property auction goes back to the agency to help them fight crime.

Any time you buy a used item, you need to inspect it thoroughly.  The same goes for items at an Arizona seized property auction.

In part two of this series, we will discuss how to find an Arizona seized property auction. For more information, contact Auction Systems today.

Tags: ,
Posted in arizona auctions | Comments Off

Phoenix Auctions: The Ins and Outs of Online Bidding (Part 2 of 2)

December 27th, 2011

This is the final instalment of a two part series. Click here to read part one.

Online bidding is a convenient and easy way to buy items at Phoenix auctions.  Although certain features may differ slightly from one auction to another, the overall process will be very similar.  By following some simple guidelines, you can bid successfully before and during the auction.  When you bid carefully, you can take advantage of the great deals auctions have to offer.

Bidding Online at Phoenix Auctions

Online bidding at Phoenix auctions generally can be done using two methods:

Proxy Bidding 

Usually one week prior to a live auction, the auction lots are available for online bidding.  If an item has no previous bids, the bid you’ll enter will be higher than the starting price.  If others have already bid on the item, you’ll enter the next required bid amount and a maximum bid amount, if desired.  The required bid amount will be displayed on the screen.

If you enter a maximum bid, this amount will be the highest dollar amount you are willing to pay for the item.  If your maximum bid is lower than another bidder’s, you will be notified online immediately after you place your bid that you have been outbid.  You can then decide whether to increase your maximum bid amount.  You will be e-mailed any time you are outbid during the time preceding the live auction.

Auction Bidding

Online bidding can either be concluded prior to the live auction or be done as simulcast bidding where you bid in real time with the live audience.  In Phoenix auctions that close online bidding prior to the live event, your bid (and maximum bid if you entered one) will be represented by an auction house staff member.  Your highest bid will be the starting point for bidding at the live auction.

If nobody in attendance places a higher bid than your current or maximum bid, you win the item.  If a live bidder places a higher bid than your maximum, you are outbid.  The auction service will keep you informed throughout the event via e-mail.  Your status on all bids will be updated either indicating your were outbid or you won.  Paid invoices for your purchased items will be e-mailed directly.

Simulcast auctions will follow the actual live auction.  You will be participating just as if you were present.  Since the pace is very quick, you’ll need to stay focused on your items and the bidding process.  You’ll have to enter your bids fast to make sure you have a chance of placing a winning bid.

Phoenix auctions may provide the ability to listen to the live auction through your computer’s multimedia capability.

What Happens After an Auction

You’ll receive an e-mail after the auction indicating whether you won.  If you were the successful bidder, you’ll receive a copy of a paid invoice.  Then, you’ll need to retrieve your items.

When you registered for a bid card, you probably had the option of having your items shipped directly to you.  If you aren’t having them shipped, you’ll have to pick up the merchandise at the auction location within the time allotted.

Online bidding is fun, fast and exciting.  It’s easy to get hooked on the process, so it’s important to thoroughly evaluate potential items.  Once you determine an item’s value, then you can set a maximum bid.  When you bid carefully, you can take advantage of the great deals auctions have to offer.

For more information on Phoenix auctions, continue reading our blog or contact Auction Systems today.

Tags: ,
Posted in phoenix auctions | Comments Off

Phoenix Auctions: The Ins and Outs of Online Bidding (Part 1 of 2)

December 23rd, 2011

Online bidding is a convenient and easy way to buy items at Phoenix auctions.  Although certain features may differ slightly from one auction to another, the overall process will be very similar.

Before You Bid Online at Phoenix Auctions

Prior to the live auction, you’ll have access to an online catalog of items.  The catalog is divided into categories to help you find merchandise quickly and easily.  For example, if you’re interested in a circular saw, you would look under a “Power Tools” category.

You can also perform various online searches to find specific items.  A search box on the website may be exclusive to each auction ring.  Various search parameters include model numbers, brands, lot numbers, etc.

Auction lots are described by name brand and model, if applicable and available.  In addition, lots may be depicted by media type, such as wood, porcelain, crystal, glass, etc.  Furniture is typically referred to by upholstery type and wood species.  Dimensions are noted in descriptions where appropriate.

Some important things to know before you bid online at Phoenix auctions:

  • Federal law states auction items are sold “as-is, where is.”  This means you won’t get any guarantees about an item’s condition, including whether it works or not.  You’ll also be responsible for removing the item from its selling location after submitting a winning bid.
  • Many auctions allow bidders to preview items in person.  Because you won’t be given a refund or exchange if any item doesn’t work, you should take advantage of available live previews.  The great deals you’ll likely get at Phoenix auctions offset any inconveniences.
  • Online bidding sometimes will allow for a refund if the item is described inaccurately.  For example, if you submit a winning bid for a Sony laptop, but the actual item is a Sanyo laptop, you would be eligible for a refund if you return the item within the auction house’s designated time period.
  • Check with the specific rules, regulations and requirements of the auction service managing the Phoenix auctions.  You will need to be well versed in all aspects of online bidding to avoid any surprises.
For more information or a schedule for Phoenix auctions, contact Auction Systems today.

Tags: ,
Posted in phoenix auctions | Comments Off

Arizona Auctions: Selling at a Live, Simulcast or Online Auction (Part 2 of 2)

December 21st, 2011

This is the final part in a two part series. To read part one, click here.

A fast and profitable way to cash in on your unwanted assets is by selling them at Arizona auctions.  Auctions sell virtually every type of industrial, commercial and personal asset.  In general, these auctions can be conducted live, simulcast or online.  To get the most from your auction experience, you should select an auction house with a proven track record.

Selling at Simulcast Arizona Auctions

Simulcast auctions combine live and online auctions.  These Arizona auctions can be conducted at the seller’s location or the auction service’s facilities.  Items to be auctioned appear on the Internet the same time as the live auction.

Just as the other Arizona auctions described above, merchandise is photographed and described in writing.  This information is placed online at least one week prior to the live event.  Bidders participating online can preview items and make proxy bids.

On auction day, bidders can attend the live auction or participate online from any location.  Online bidders bid in real time against other online bidders and live auction attendees.  Expanding the buyer base often produces additional revenue for sellers.

Partner with a Proven Auction Service

Regardless of the auction type, you want to use an auction house that fully understands how to create markets for your assets.  The auction company must be adept in marketing and advertising programs to attract the most qualified buyers.  By reaching the right audience, you can be assured of competitive bidding.

A solid auction service will know who the buyers are and how to reach them.  They will use diverse advertising vehicles, such as direct mail, trade journals, newspapers, Internet, e-mail and fax, to get the word out.  And, most importantly, the best auction service will have a solid reputation for fairness and ethical conduct.

During Arizona auctions, a qualified auction service will know how to keep the event moving and well organized.  And, they will use advanced technologies for efficient management.

Finally, it’s important to your bottom line to carefully consider buyer’s premiums for items sold at Arizona auctions.  These premiums are charges tacked on to the final selling price and can be as much as 25 percent.  Buyer’s premiums can hinder sales and put less money in the seller’s pocket.   Therefore, sellers should first consider auction houses that don’t charge these add-on costs.

To get the most from your auction experience, you should select an auction house with a proven track record.  By conducting numerous auctions a year and producing substantial dollar amounts for sellers, a reputable auction service can make a substantial marketing and financial difference for you.

For more information on Arizona auctions, or to find out when our next auction is, contact Auction Systems today.

Tags: ,
Posted in arizona auctions | Comments Off

« Older Entries

Get Email Updates & SMS Updates

Receive RSS Feeds
Visit Our Blog
ASRN Radio
About Auction Systems