Hopefully, everyone has enjoyed/survived the “snowpocalypse” of 2016. As I marveled at the heavy snowfall on Friday, knowing I was inside and prepared, I started wondering why snow events in the Nashville area weren’t as significant as I remembered growing up. Thinking of the relevance of that “why” inspired me to talk a bit about the auction “why”.
When I started as an apprentice auctioneer, one of the first lessons I learned was how to be a better listener. It didn’t matter if I was booking farm equipment or fine antiques, the client always had a “why” they were selling and I had to learn how to listen for that. If I didn’t hear an answer to that question, I simply asked. You see, not every situation is a good auction situation and the “why” is sometimes crucial in determining if the auction is a good fit. The “why” must be genuine.
An auction ad with the headline “Estate Auction” makes sense and the “why” is obvious. There has been a death and the sale is being conducted for the heirs or perhaps a Conservator or Administrator working on behalf of the heirs. That is the true definition of an Estate Sale and in the auction industry it is by far the golden headline. Buyers know and trust the “why” and therefore trust the process. You’ll certainly not see those words used for an auction by an auctioneer unless it is truly an auction conducted to liquidate an estate, meaning real estate and/or personal property. Now I know what you’re thinking. You see the words “Estate Sale” being over-used by non-auction companies everywhere from a tag sale to a moving sale. Well, I can’t speak for their industry, only mine.
Every so often the reason “why” is what garners so much attention and interest, and auctioneers try to be as transparent with buyers as possible; however, our first responsibility is to be loyal and sometimes discreet regarding our clients. Think of it this way, what is true for love is true for business, “Without trust, there is nothing” and that goes for sellers as well as buyers.
I enjoy telling the stories behind some of the unique pieces I have the opportunity to sell, and I find the people behind the pieces particularly fascinating. When I am given permission, I enjoy sharing their stories with my buyers. It’s the element of the unknown that makes the auction so fascinating and when bidders have control in determining what they will pay for something, it creates a great sense of empowerment!
Whether you have real estate, an estate, a business liquidation or simply personal property to sell, the auction sets an end date to your particular project so you can move forward. Couple an aggressive marketing plan with a strong auction market, and the auction can realize a very competitive market price.
So, the next time you wonder, “Why auction”? The reason is simple…it works!