The Advantages of Buying at Auction
- Auctions are Popular!
More than half of the U.S. population has attended a live auction in their lifetime
(2004 Harris Interactive)
Over a quarter trillion dollars are sold at auction every year in the United States. This doesn’t include items sold on eBay and other online auction Web sites!
- FUN Auction Facts
Consumers consider attending an auction a rewarding activity for the whole family
Consumers are willing to drive 1.3 hours to attend an auction
83% of consumers feel auctions are an exciting way to get great values and deals
65% think they offer exciting items they wouldn’t otherwise purchase
97% think auctions are FUN!!!
- The Advantages of Buying At Auction
Speed of process
Efficiency of process
Transparency of process
Consumers can set their own price
Consumer know exactly what they are getting
Opportunity to purchase items at the price they want to pay
Fun!
- When Attending An Auction
Show Up Early and Register and Complete Paperwork
Examine Items You Plan To Bid On
Understand The Terms and Conditions of the Auction
Listen Closely To The Auctioneer and Be Prepared To Bid
Where to Find Your Next Auction
- Auction Calendar
- National Auctioneers Association
Professional association built by Auctioneers, for Auctioneers over 60 years ago
Members abide by strict Code of Ethics
Members come from communities large and small across the country and world
The NAA and its members are dedicated to professionalism in the auction profession and the promotion of the auction method of marketing
- What’s The Auctioneer Saying
The trademark bid call of an Auctioneer can be broken down into two parts:
Statement: “I have 5 dollars”
Question: “Would you bid 10”
Speed it up and repeat and you have the famous chant of an Auctioneer!
- Types of Auctions
Absolute: Property is sold to the highest bidder, regardless of price.
Minimum Bid Auction: Bids are accepted at or above an advertised minimum price.
Reserve: Seller has the right to accept or reject any offer that falls below a confidential reserve price.
- SOLD!
Source: National Auctioneers Association
