Re: Auction etiquet!! Mainly sellers protecting their int...

Posted by wisbaker on September 23, 2012 at 11:37:08 from (184.157.222.95):

In Reply to: Auction etiquet!! Mainly sellers protecting their interests posted by JDseller on September 23, 2012 at 10:02:25:

While employed for the local county one of my jobs was to dispose of the county's surplus property. Due to county ordinances any surplus property with a perceived or anticipated value of over $500 most be offered by bid to the public (unless you're the Sheriff or Library board and don't feel you have to follow the rules). One of the things that most folks don't understand about an Auction- it's real purpose is for the owner to convert property into cash, and in doing so get as much cash as you can. An ethical and professional auctioneer understands this and understands for them to meet their fiduciary duty to the seller they have to conduct effective marketing of the auction and goods to be sold AND get qualified buyers in the house. Some auctioneers are better than others at this, but there is a balancing act between your responsibility to the seller and creating a sale environment the buyers flock to (cheap prices and bargains). Being a municipality I had to advertise for proposals from auctioneers and recommend the proposal I best felt represented the county's interest. To that I have attended auctions of local auctioneers not because I wanted anything but to verify how effective they were at meeting that obligation. I went to a sale once and merchandise was selling for about 1/2 of what I sold similar merchandise for at our county sale, yet the proposal they made to me indicated their commission would be the same as the auctioneer that had conducted our last three sales. How do you convey to a group of county supervisors that using auctioneer "B" will result in a decrease of auction proceeds of about $25,000 when they can't get a grasp of the fact that 45 is more than 35? I have been cursed at and had allegations made against me as a county employee that the prices of vehicles we sold were "to expensive" and I was "screwing people" by charging them that amount, it's hard to explain to the taxpayer that made those acquisitions that he was outbid by the used car dealer from the next town over, and he paid about 3% over wholesale AND he'll turn all the units he bought within a month at a profit. So it's not only "BUYER BEWARE" but it's also "SELLER BEWARE" If I, as a seller, wants to bid on property I'm selling as long as I'm paying the commission If I outbid that's fair. If your auctioneer has online or proxy bids as long as they are public about it that's also fair. Last sale I conducted we had a garbage truck, the auctioneer informed me she had a proxy bid on it and did so when it came to the block. The city that consigned it had a reserve of $5,000 she sold it for $10,100. After the sale she confided the proxy was from Arizona for $10,000 and she's glad it was sold locally 'cause she really didn't want to deal with shipping the darn thing across the country.

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