UBid Estate & Auction Services LLC

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Michael L. Huff LIC #17436
Selling at Auction
Advantages of Selling at Auction

Auctions are of the most unique and valuable ways of selling almost any type of personal property. One of the most popular auctions are those that involve the auctioning of household items, collectables or antiques. However, auctions involve so many other possessions such as: autos, office equipment, industrial equipment, electronics, arts of all types and styles and machinery.

People are Flocking to Auctions
Auctions are one of the oldest forms of selling property and it's history spans centuries! A research study commissioned by the National Auctioneers Association shows that auctioneering is an industry on the rise.

Did you know, more than half of the total U.S. population has attended a live auction?
In 2004, the value of all goods and services sold at live auctions in the U.S. was approximately $202.7 billion. That figure is up 6.8% over 2003 which translates to a huge number of satisfied buyers and sellers of auctionable goods. (Some items are not legal to sell at auction and is regulated by Texas Department of Licensing and Regulations (TDLR)

Auctions are entertainment at it's finest. That’s what most consumers say about auctions and that’s the number one reason they attend. So what makes them so fun and entertaining you may ask? Some say it’s the unexpected, the idea of experiencing something original and obtaining items for a good and fair price. All in all:

51% think they offer a great value on items
53% like the excitement of getting a good price
65% think auctions offer exciting items they wouldn’t otherwise purchase
83% think auctions are an exciting way to get good deals

The Value of Selling at an Auction

So how can an auction benefit you as a seller?

Timely process, quick turnaround

Once you consign your item('s) with an auctioneer, you should know the date the item('s) will be offered at auction and sold. Assuming you didn't have a reserve on an item that was not obtainable through competitive bidding. TDLR, requires consigners to be paid within 15 days unless other wise stated in the consignors contract. With us, we strive to pay our consigners within 7 days

Comprehensive marketing of your property

Part of conducting an auction is marketing it to the general public to get as many people as possible to attend the auction. They/We run advertisements, distribute fliers, communicate the auction through our social media page and more

Buyers come prepared to BUY
Auction goers come with money in their wallets, pockets and hands and are prepared to go home with property as it's a seller’s delight

No negotiations
There is no haggling over price or merchandise. The auction method is quick and efficient. When people bid, they make a commitment to buy the property at that price without discussion or debate and once the hammer fails, the item is sold under Texas State Law

No leftovers and the clean up is handed over to the Auction House
Every item at an auction goes up for bid and every item is sold unless it had a reserve price that was not obtainable. This will at times happen when a consigner likes the item or items more than the value of the item('s). How many of you have had a garage sale? You drive to get and pay for your city permit, must conform to where you place the signs, which in a lot of cases is a pain unless you put it in your front yard; but then you loose the drive bye potential customers. And when you’re finished, you spend needless time packing up what didn’t sell and looking for places to store it or throw away items that didn't sell and loosing potential money from the sell of those items at auction. With an auction, there’s no worry about what to do with leftover items because typically there aren’t any

Competitive bidding
Auctions motivate buyers to perform. People get caught up in the competitive bidding and many times this drives the price of item('s) higher. To some it’s a game, and they want to win at all costs. And did you know that 9 times out of 10, an auction brings in the fair market value, if not more, for any item that goes to the auction block? Just think, you may sell an item at a garage sale not realizing the real value of that item. At an auction, people are looking for those items and the bid!

Exciting Atmosphere.
There’s not many things a person can do that hasthe exciting atmosphere of an auction. Crowds of people competing for property combined with that lively auction chant makes for some great entertainment and fun ad at times a WOW factor!

Auctions Work Well in Both Good and Bad Economic Times
People love auctions, because they love sales. Statistics show, in a good or bad economy auctions remain a steady force. When the economy is bad, the auction industry does not feel the impact: people still flock to auctions.