There are a few reasons why selling by auction is way better than “traditional” selling:
1. Competition – When putting an item up for sale at an auction, people will be going head-to-head creating a psychological impact on the buyers to bid higher: Their competitive spirit will skyrocket the price while making the item even more attractive to the other buyers attracting them to jump into the bidding. This is what fuels the fire in an auction – The competitive spirit of the bidders.
2. Deadlines – If you put a “For sale” sign on a car, You may get a call today or it may take 5 months. If you put it up for auction, you know exactly when you’re going to sell the car. And by placing a Reserve Price, you will always ensure you get the price you want. There’s no more waiting around for somebody to notice these items. This also affects the buyers, by creating urgency they will have to make up their minds quickly and the deadline usually motivates buyers to bid higher and quicker.
3. Awareness – Even if there are not enough bidders that day to make a sale, all of the people that were there noticed the items and are sure going to follow up when they make up their mind eventually.
4. No fooling around – Putting an item for sale on the internet usually results in calls from people that are not really interested in buying the item. They could be calling to negotiate a lower price, or try and get a discount. That is if they are calling regarding the item being sold at all. With an auction it’s clear that the person is interested in purchasing and you can more easily evaluate the chances of selling the item.
5. Evaluation – If you own something unique or rare and you are not sure of its value, putting it up for sale at an auction house will give you insight as to the value of your item as well as how many interested buyers are out there.
These are just a few of the reasons why someone might want to make their next sale at an auction house or using an online auction website. I definitely recommend selling by auction when trying to sell something that doesn’t have a clear monetary value or something that is unique.
Distributed by Yurz
Company Name: RepoMax Auctions
Contact Person: Jake
Address:24100 Groesbeck Hwy
Country: United States