Posted on February 29th, 2012 by Paul Stansel
by Paul Stansel
Auctioneers and their clients face a ?perfect storm? these days. A flood of merchandise from the G.I. Generation is entering the market just as their Baby Boomer children begin to retire and downsize their own property. This property must be marketed primarily to younger generations, who show little interest in antiques and collectibles. Adding to this ?perfect storm? are continuing tough economic conditions.
The main challenge that modern auctioneers face is of course to get the most cash for collectibles and antiques in a market that is in a slump. A secondary challenge for auctioneers is to work with clients in coping with all of the other property such as tools, household items, furniture, and other things that were not sold in any previous estate auction.
Auctioneers began addressing this dilemma years ago as attendance and prices at live gallery auctions began to decline. A bright spot for more alert auctioneers was live Internet bidding during their gallery auctions, which brought in buyers from around the country. There were many evenings where the live crowd had stopped bidding on an item, while Internet bidders kept going for several minutes. This gave those auctioneers the confidence to try running online only auctions.
Online auctions have now been worked into a smooth operation. The auctioneer puts together onsite auction ?lots? or groups of items to be auctioned. The auctioneer takes several photos of each lot and creates a description of those lots. This information is compiled into a laptop and the auction information is then uploaded back to the auctioneers online auction website.
When the auction is put together, it typically gets promoted to 25,000 to 50,000 registered bidders who are interested in online auctions. It is also blasted to major auction listing sites across the Internet. Then those registered bidders get to bid on various items that they are interested in at any time of the day (or night!) using their computer or smartphone whether they are at the office or at home.
The auctions have dynamic endings just like a live auction. If an item receives a bid in the last two minutes of an auction, it is automatically extended two more minutes to allow the under bidder to counter bid.
Online Only Auctions are now auctioning a huge range of personal property, real estate, industrial and commercial equipment, vehicles, etc. They truly sell the earth and everything on it.
About the Author:
Paul Stansel is known as the CT Auction Guy. He is a professional auctioneer offering live as well as online auctions. He travels throughout Connecticut, New York and New Jersey, where he has conducted hundreds of successful estate & personal property auctions, benefit & fundraising events, and commercial/business auctions. You can sign up for CT Auction Guy?s upcoming auctions on his website. For more articles visit ArticleDistribution.OrgFiled under: Internet Business
Source: http://articlepromotion.org/blog/?p=85148
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