In part 1 of this post we discussed it has almost become second nature to discourage new bidders at auctions in Arizona because they are unfamiliar with the process.

The auction process intimates new buyers and then they are publicly singled out for slowing down the auctions in Arizona. How many of us would want such acclaim as we ventured into a new business? The more important issue is the new buyer’s response to such uncertainty with the auction process. It is our job, to make the new bidder not only feel welcome but made welcome.

There are several ways to ensure a new buyer’s comfort with the auction process. We offer a pre-auction bidding seminar, about fifteen minutes long where we explain in laymen’s terms the verbiage of the auction, how to preview, bidding practices and a quick explanation of our auction rules. For latecomers to the auction we have a brochure that contains the same information as the auction seminar. But then we follow-up with a phone call and extend a personal invitation to attend the next auction. Once they have attended a second auction we send a coupon good towards their next purchase at an auction if they bring a friend of family member.

We must encourage new buyers to attend our auctions in Arizona. The argument could be that an auction firm’s active attraction of new auction buyers may run off the dealers who buy at AZ auction. It is true that dealers are not especially fond of buyers willing to pay retail. But if new buyers are consistently a part of the auction then the dealers learn how to “deal”.

To grow our businesses, grow our revenues and grow our reputations we must welcome each new bidder with the same enthusiasm as we display for each new seller. So I am going to change the close of my day planner to read “What have you done to attract a new buyer today?”

For more information about auctions in Arizona, contact Auction Systems.

As an AZ Auction House CEO my daily planner closes everyday with a question “What have you done to make money today?” The question is somewhat trite and redundant for those of us in business, but I have it in my planner as a reminder to stay focused on business. Many times I answer the question with the number of scheduled AZ auctions on the books. But it is easy to forget that we need buyers for the auction worse than we need sellers.

If you have been in the auction business for any length of time, you’re certainly comfortable knowing that if you have AZ auctions your buyers will come. And gratefully this is true. But it is the same group of buyers that always show up for that kind of auction. No one new — no new blood. The standard group of buyers is comforting to us because they know the auction procedure and auction rules. New attendees just slow the AZ auction down and make the regular crowd angry because the new bidders are bidding “too much”.

It has almost become second nature to discourage new bidders at AZ auctions. We don’t do this intentionally but we have somehow grown used to the fact that new people have a learning curve, so we just blow past them. For example if an auctioneer is selling choice of five items and a new bidder has the audacity to just purchase one of five items and then needs time to make their choice of the items, the auctioneer gets frustrated and starts to hurry the buyer along.

For more information about AZ auctions, contact Auction Systems.

In Part one of this blog post we discussed several advantages of real property auctions Arizona.

Real Property Auctions Arizona Create Buyer Competition

• The auction process encourages multiple buyers to compete to purchase your property
• Competition generates excitement and motivates buyers
• Competitive bidding often draws prices higher than the seller’s expectations

Real Property Auctions Arizona Provide Good Buyer Candidates

• High demand, broad interest properties where competition between buyers would increase price
• Property a seller desires to convert to cash quickly
• Properties owned by seller who has purchased second property using a bridge loan or who has signed a contract for property “subject to the sale of existing property”
• Estate and surplus properties
• Inactive real estate listing needing a fresh marketing approach

BENEFITS TO THE REAL PROPERTY AUCTION ARIZONA SELLER:

• Buyers come prepared to buy
• Quick disposal reduces long-term carrying costs, including taxes & maintenance
• Assurance that property will be sold at true market value
• Exposes the property to a large number of pre-qualified prospects
• Accelerates the sale
• Creates competition among buyers - auction price can exceed the price of a negotiated sale
• Requires potential buyers to pre-qualify for financing
• The seller knows exactly when the property will sell
• Eliminates numerous and unscheduled showings
• Takes the seller out of the negotiation process
• Ensures an aggressive marketing program that increases interest and visibility

BENEFITS TO THE REAL PROPERTY AUCTION ARIZONA BUYER:

• Smart investments are made as properties are usually purchased at fair market value through competitive bidding
• The buyer knows the seller is committed to sell
• In multi-property auctions the buyer sees many offerings in the same place at the same time
• Buyers determine the purchase price
• Auctions eliminate long negotiation periods
• Auctions reduce time to purchase property
• Purchasing and closing dates are known
• Buyers know they are competing fairly and on the same terms as all other buyers
• Buyers receive comprehensive information on property via due diligence packet

For more information about real property auctions Arizona, contact Auction Systems.

Contrary to public opinion, a real estate auction in AZ offers selling conditions that are sometimes better than traditional real estate sales methods. Real estate auctions, in the United States, are on the rise. Banks, lawyers, and property owners are discovering that real estate auctions are a sound option and an avenue to profitability. Real estate auctions are effective and have advantages. They are an option that is worthy of your consideration.

The following are some advantages of real estate auctions:

• Quicker sale of real estate
• Eliminates high carrying cost for long periods of time (taxes, insurance, maintenance)
• Attracts the attention of buyers who compete for purchase
• Has pre-qualified buyers as real prospects
• Convenience of a complete package for the real estate and the personal property

A Real estate auction in AZ creates excitement because it brings together all of the potential buyers of a property, encouraging direct competition among buyers. Carefully planned promotions attract the necessary qualified buyers well in advance of the auction date.

Real Estate Auctions Have a High Exposure Sales Approach

• An advertising campaign is conducted for each property
• Quality brochures are distributed to a broad range of real estate purchasers

• Media is used to promote the property - including newspapers, television, radio, magazines, direct mail and video

• Encourages Realtor® participation

Real Estate Auctions Produce Buyers in 30 days or less

• Once the promotion begins, the auction sale takes place in three to four weeks
• Usually auction promotions generate a sale prior to auction day
• Auction avoids drawn-out negotiations and unnecessary contingencies because terms and conditions are preset by the seller

For more information about a real estate auction in AZ, contact Auction Systems.

Arizona auction house, Auction Systems Auctioneers & Appraisers, Inc., will be featured in a reality show about auctions on the American cable television network TLC.

TLC is owned by Discovery Communications and features a variety of reality-based programming. TLC features successful reality programming such as American Chopper, Jon & Kate Plus 8, Little People, Big World, LA Ink and more. TLC features a number of shows, such as American Chopper, that focus on the inner-workings of a business and provide viewers with a greater sense of how that specific business operates.

Auction Systems Auctioneers & Appraisers, Inc. is one of the most active auction and appraisal companies in the Southwest United States. Auction Systems success is in part based on the company’s technology and systems.

Arizona Auction House, Auction Systems, will be providing more information about their new reality show so continue to check back on our blog for more information regarding TLC’s newest reality show.

For more information about Arizona auction houses, contact Auction Systems Auctioneers & Appraisers.

Our Arizona auctions house is busy. Everyone is so busy that ” busy” is almost a mantra in our Industry.  And what are we busy doing?  That question can take an hour or two in staff meeting.  We know we are supposed to be bringing in as much business as possible to our Arizona auction house.  But is the business always worth the effort when the yield to the company is minimal.

Recently, a very large auction firm larger referred some business to us.  The client who needed an auction didn’t have enough revenue for the larger auction firm to pursue.  Of course the referral made me question why they thought it would be a large enough account for our Arizona auction house to touch.  Perhaps they are a larger firm because they know how to say “no”.

Many auctioneers are hesitant to turn any business away because they never know what future business that client might have for their Arizona auctions house.  And in theory it is easy to understand that concern.  However the once in a lifetime client may never produce another auction for the company.  What the auction can do is wear down staff and eat at the company’s resources.

Auctions continue to grow in popularity.  More buyers want to buy and sellers want to sell.  However there is some product and clients that don’t merit the effort of an Arizona auction house.  Many of us can say “no”.  It is easy when you get a phone call from a seller who wants to liquidate an inventory of 20 year old hair pieces ranging from magenta to sky blue.  We understand the market is not going to pay enough for an auction to take place.  But the client who needs a business liquidated which has more assets in the people and not in the product can be harder to walk on.

I am a firm believer that in order to be successful in business you must be willing and ready to walk away at anytime.  If clients understand that there is a level of business you will do and nothing beneath that level, they will respect the standards.  Our Arizona auctions house instituted a team of people called “The Acceptance Team” that does not work with sales people.  The idea is that once a client comes on board for an auction, they must talk with the acceptance team, and be accepted by our Arizona auction house.  Although the transition for our sales staff has been challenging, it has prevented some big mishaps.

A seller was bringing in 43 pallets of TV’s for us to auction.  On the surface it sounds like a great deal and good addition to most auctions.  When the acceptance team talked with the client, it was discover that the TV’s did not work.   Can you imagine how many disgusted buyers that would have generated from an auction?  If you do the math at 8 TV’s per pallet times 43 pallets that could equal 344 buyers who tell their friends about the bad TV they purchased at an Arizona auction house.

This is an example of the kind of business that we don’t need to keep us busy.  On the surface what seemed like a good client to the sales person would have ended up costing our Arizona auction house countless buyer business.  The acceptance team caught the fact that the TV’s were a bad deal before they even hit our warehouse doors.  You don’t need a large staff to have an acceptance team.  You need one person who was not in attendance at the sales presentation to ask questions after the deal was completed.

Remember if you are going to incorporate this idea into your Arizona auctions house, you need to make a change on your auction agreement for services.  The signature line will have the client’s signature, the sales person’s signature and then one more line for the acceptance team signature.  The idea is certainly not to loose business, it is to think like the big companies and only do the kind of business that is profitable for you and your buyers and sellers.  If you are going to be busy, be busy doing business and not practice.

For more information about Arizona auctions, contact Auction Systems Auctioneers and Appraisers.

Phoenix Auction House: Buying Tips for Auctions, Part 3

Auction Systems’ auction buyer tips will help you avoid the most common mistakes made by Phoenix auction buyers. Read up on laws, rules, bidding tips and buyer rights below:

Auction Buyer Tip #7: Don’t be shy about bidding loud and large. Raise your bid card in the air if you want an item and keep it up until you are done bidding. Make certain the auctioneer is aware you are bidding because the auctioneer may be taking bids from someone in front of or behind you. Once the auctioneer says “sold,” the item is gone even if you are willing to continue bidding. There are no do-overs in the Phoenix auction business. Spotters or ringmen are there to help the auctioneer spot bids and will signal your bid to the auctioneer.

Auction Buyer Tip #8: When the Phoenix auction starts, you will hear a ringman call out a lot number and give a brief description of the item. The auctioneer will begin selling the item and will ask for you to bid. The auctioneer continues to go up in increments until the item has been sold. Once the bidding has closed, the auctioneer will say “sold” and state the winning bidder’s number and the final selling price.

Auction Buyer Tip #9: During the Phoenix auction, clerks record the description of your items and your buyer number as well as the amount you paid for the item.

Auction Buyer Tip #10: There are some terms that are used during a Phoenix auction of which you need to be aware. These terms are “choice” and “all for one money.”

For more information about Phoenix auctions or for more buying tips, contact Auction Systems.

The quickest way to secure capital from unproductive assets is by selling at a public auction. Auction Systems offers three types of public auctions to serve the needs of clients selling at auction: Live Auctions, Simulcast Auctions, Internet Only Auctions and we also offer Private Auctions.

Simulcast Selling at Auction Methodology
Simulcast Auction combines the live public auction method along with the Internet. Assets can be liquidated on location at your business, home or at our warehouse. Your merchandise appears for sale on the Internet at the same time as in the live public auction. Merchandise is photographed and a description is written for the asset - this information is placed on the Internet at least one week prior to the live event and allows Internet participants to preview and leave proxy bids for item(s) they want to purchase. On auction day, the buyer may either attend the public auction in person or bid from their home or office computer, bidding in real time against other live and Internet auction bidders. The simulcast selling at auction method takes longer to administer and set-up, however the additional revenue created from a worldwide audience can be substantial for our sellers.

Internet Selling at Auction Methodology
Internet Auctions are typically used as a way to sell special collections and small antiques that only appeal to a very selective buyer base. Assets are brought to our Internet sales division, and each item is photographed, a description is written for each item, which is posted to an Internet auction such as E-bay. The process of selling at auction on the Internet only auction is the longest auction to administer because of the length of time it takes to research the items for auction; however in special situations it produces the highest possible revenue for our sellers.

For more information about public auctions or more selling tips, contact Auction Systems Auctioneers & Appraisers.

Auction Systems will be hosting weekly live fast cash auctions beginning May 3, 2010. These fast cash auctions will be a reminiscent of auctions of the past. They will offer individuals the opportunity to bring in items on the day of the auction, have them previewed by interested buyers and receive payment for items sold on the same day.

Auction Systems will be inviting any individual who is interested in selling their valuables at a fast cash auction to participate. Participants will simply have to choose an auction date and bring in their items. These items will then be available to be previewed by Auction Systems’ diverse group of buyers.

These fast cash auctions will begin Monday, May 3, 2010 at Auction Systems located at 951 W. Watkins in Phoenix, AZ and will be held weekly. Auctions will be held Monday nights at 5:30 p.m. Prospective sellers will be invited to bring in their items Sunday from 12 p.m. to 4 p.m. and Monday from 8 a.m. to 1 p.m. Items will then be available for preview on Mondays from 1 p.m. to 5:30 p.m.

For more information about Auction Systems’ fast cash auctions as well as our other auction events, contact Auction Systems.

The quickest way to secure capital from unproductive assets is by selling at a Scottsdale auction. And the surest way to realize the highest cash return is to call upon the services of Auction Systems Auctioneers & Appraisers, Inc. Our firm has produced millions of dollars for sellers in the history of our operation. With statistics such as these, it’s no wonder our auction and appraisal firm conducts more than eighty auctions a year, selling virtually every type of industrial, commercial and personal asset. Auction Systems offers four types of Scottsdale auctions to serve the needs of clients selling at auction: Live Auctions, Simulcast Auctions, Internet Only Auctions and Private Auctions.

Live Auctions
Live Auction allows assets to be liquidated on location at your business or home; or the assets can be sold along with the merchandise of other consigners at our warehouse. Regardless of location, our Scottsdale auctions are thoughtfully set-up to properly display the merchandise for sale. Careful attention is paid to divide and combine assets in a way that will bring the highest sale dollar possible. An individual advertising campaign is designed for the selling merchandise and is targeted towards the buyers that will pay the maximum amount for the assets. The live selling at Scottsdale auction method creates a sense of urgency for the buyer and brings about the quickest cash settlement for our sellers.

For more information about Scottsdale auctions or more selling tips, contact Auction Systems Auctioneers & Appraisers.