Things to Consider: Transitioning Online

Category: Education

Presentation Description

If you haven't done it yet, you've certainly thought about converting at least part of your business to an online format. There are special considerations, though, to ensure your conversion is a successful one. The National Auctioneers Association is pleased to bring you a webinar about converting your auctions to an online format, presented by NAA member Philip Gableman of United Country Absolute Auction & Realty.


Presentation Transcript

Things to consider: Transitioning To Online Auctions:

Things to consider: Transitioning To Online Auctions Presented by: Philip Gableman Pleasant Valley, NY United Country Absolute Auction & Realty

Major Considerations Before Choosing to Conduct a Dynamic Online Only Auction:

Major Considerations Before Choosing to Conduct a Dynamic Online Only Auction The seller can be trusted and will sign a contract. Seller expectations are reasonable. The auction site is suitable. The auction site is secure. Auction team has proper lotting knowledge & equipment. Enough time to setup, conduct auction, collect payments & checkout.

Sellers needs:

Sellers needs Does their time frame work? Understanding expectations: Can their end result be achieved ? Is it monetary? Do additional services need to be included? Cleanout, dumpsters, guaranteed removal, etc… OR… Does anything beyond the auction remain the responsibility of the seller?

Should You Hold a Preview?:

Should You H old a Preview? Do the items justify a preview? Are you changing buyer perception? Is it good or bad? Does someone have an unfair advantage? Do your photos “do the talking”? Who supervises the preview? Liabilities

Security: Who Holds The Key?:

Security: Who Holds The Key? Limited or unlimited access? Is there a backup if you don’t hold the key? Will the seller unconditionally release items? What if they are unhappy with prices?....

Photos: How will you showcase?:

Photos: How will you showcase? Let the photos “do the talking” Have multiple images Show the construction, marks, serial #’s, etc… Show the entire piece, all around Show damage Close up of anything important DO NOT PHOTOSHOP!!!

Cataloging & Descriptions: Tips & Hints:

Cataloging & Descriptions: Tips & Hints Lot and photograph everything in catalog order first. Go back and use your photos as a guide to catalog all lots. Accurately provide measurements. Note damage or direct bidders to photos for damage. Note any logistical challenges to removal of lot. Descriptions are subjective, images not altered are not.

Terms & Conditions::

Terms & Conditions: Have buyers acknowledge terms and conditions prior to bidding. Post pick up times in advance of people bidding. Buyers responsible for bringing packing material & helpers. Buyers are responsible for damage during removal Everything as, is. Types of payment accepted, Buyers Premium, etc. Anything not picked up shall be deemed abandoned.

Pickup: What are the logistics?:

Pickup: What are the logistics? Get all payments prior to pickup day, no money on-site. Have a definite date and time set and posted when auction is posted. Have one staff member on-site with copies of paid invoices and contact info. Have a complete set of photos of all lots to verify what is being removed. Watch for hazards and protect seller’s property. Have bidders sign that they have received everything. Straighten up as the removal process progresses. Ask bidders how they heard about auction? How did the process work for them? Think about and address customer picking up about items that might need to be removed specially.

Marketing: Online or Print?:

Marketing: Online or Print? Who will be your buyer? Will they be coming from far away or local? What kind of auction are you conducting? Vehicles & Equipment Real Estate Household items Antiques Internet marketing can provide further reach at much lower costs Are there target groups available to be marketed to online based on the assets? Online works 24/7 Print puts something physically in the hands of a potential buyer/ future seller. LIVE AUCTION: Goal is to drive them to the physical location of auction/ preview . ONLINE AUCTION: Goal is to drive them to the website of auction.

And Remember…:

And Remember… Settle with seller within the timeframe indicated in the consignment agreement. 845-635-3169 800-243-0061 Philip Gableman Pleasant Valley, NY United Country Absolute Auction & Realty