07 5442 5610 | 0419 676 284
Turn Your Assets Into Cash with The Auction Method of Marketing

Turn Your Assets Into Cash with The Auction Method of Marketing

In the dynamic world of buying and selling, individuals often find themselves in situations where they need to liquidate assets swiftly and efficiently. Enter the auction method, a time-tested approach that transforms the cumbersome process of selling assets into a seamless and lucrative experience. This blog post explores the benefits of the auction method, shedding light on how it can turn your assets into cash with remarkable ease.

Auctions provide a simple method of selling

One of the most significant advantages of opting for the auction method is the unparalleled ease it brings to the selling process. Traditional selling methods involve the laborious tasks of cataloging, publishing, and marketing, not to mention handling numerous inquiries from potential buyers. In contrast, the auction method simplifies these aspects. Sellers are relieved of the burdensome responsibilities associated with showcasing and advertising their items. Auctioneers take charge of these tasks, ensuring that the entire selling process is smooth and hassle-free for the seller. This means you can focus on other priorities while the professionals handle the intricate details of presenting your assets to the market.

Auctions bring buyers together

Auctioneers play a pivotal role in uniting potential buyers, creating a competitive environment that maximizes the value of your assets. By organizing auctions, these professionals draw in a diverse array of buyers who may be interested in your items. This competitive bidding atmosphere can lead to higher prices and increased returns for sellers. The auction method excels in bringing together a pool of motivated buyers, each vying to secure the items on offer. This not only facilitates a faster selling process but also ensures that your assets are exposed to a wider audience, increasing the likelihood of fetching premium prices.

SOLD – Cash in the bank

Perhaps the most appealing aspect of the auction method is the speed at which sellers can turn their assets into cash. Once the auction concludes, and all invoices are settled, funds are transferred to the nominated trust account. At this stage, the seller settlement process takes place. With auction platforms like Hinter Auctions, sellers can enjoy the convenience of having payments settled directly into their bank accounts within 14 days of the auction’s conclusion. This swift and straightforward payment process provides sellers with the financial liquidity they seek, making the auction method an attractive option for those in need of quick capital.

 

In the realm of asset liquidation, the auction method stands out as a reliable and efficient way to turn your possessions into cash. The ease of selling, the ability to bring buyers together, and the expedited payment process make auctions a compelling choice for individuals looking to maximize the value of their assets. Whether you’re downsizing, have sold (or selling) your property, facing financial challenges, or simply seeking a fast and effective selling method, the auction approach could be the key to unlocking the cash value of your assets.

Hinter Auctions are the leading chattel auctioneers servicing the Sunshine Coast and beyond utilizing a variety of auction methods onsite, in-house, or online.

Contact us to find out how to liquidate your assets via the auction method of marketing.

Call us on 07 5442 5610 or 0419 676 284 or email us via the contact form here…

by

by

Director/Auctioneer

3 Reasons to Consider Selling Your Assets by Auction

3 Reasons to Consider Selling Your Assets by Auction

Have you been faced with the proposition of needing to sell your valuable assets? Whether you are managing a deceased estate, downsizing, or selling your property the process can be daunting. With the myriad of options available to sell your valuable assets there are several reasons why you should consider selling by auction.

In this post we outline just 3 of the most compelling reasons to engage the services of professional auctioneers

1. True Price Discovery

In a traditional sales process, determining the true value of assets can be challenging. However, auctions offer a transparent environment where the market sets the price. By attracting multiple bidders, auctions encourage healthy competition, ensuring that your assets are sold at their highest possible value. Say goodbye to uncertainty and embrace the true price discovery offered by auctions.

2. Transparency and Fairness

With auctions, transparency is key. The bidding process is open to all, creating a level playing field for potential buyers. This transparency instills confidence in bidders, as they can see exactly what others are willing to pay. By removing any biases and promoting fairness, auctioning assets guarantees that everyone has an equal chance to participate and secure their desired items.

3. Speed and Efficiency

Time is of the essence, and auctions offer a swift way to sell your assets. Unlike traditional sales methods that can drag on for weeks or even months, auctions have a set timeline, ensuring a speedy process. From the moment the gavel falls, the transaction is completed, providing you with a quick turnaround and allowing you to move forward with your plans without delay. Experience the efficiency that auctions bring to your asset-selling journey.

At Hinter Auctions, Sunshine Coast’s leading auctioneers, we provide a seamless and efficient solution for selling your valuable assets. Discover the true potential of your asset-selling journey through our transparent and competitive auction process. Experience the confidence and level playing field offered by our transparent bidding process, ensuring the real value of your assets is determined and maximizing their worth. Bid farewell to lengthy sales methods and welcome a swift turnaround with Hinter Auctions.

Contact the auction team today on 07 5442 5610 or 0419 676 284

by

by

Director/Auctioneer

What Is Hammer Price?

What Is Hammer Price?

The “Hammer Price” is so named referring to the final amount bid and called by the auctioneer at the fall of the hammer.

Of course, a gavel or hammer is not always used by the auctioneer to call the final bid. The auctioneer may simply call sold or use other methods such as clapping hands, slapping the leg, using a stick, and so on. Whatever the method used by the auctioneer the final bid is still referred to as the hammer price.

In the world of online auctions, the final closing bid is also referred to as the hammer price.

BUYERS FEES & TAXES

In many auctions including those facilitated by Hinter Auctions, the hammer price does not include fees such as a buyer’s premium and taxes such as GST that may be applicable. These fees (if applicable) are usually added to the hammer price on invoicing. It is worth noting that any additional fees and taxes are added to the hammer price separately and not compounded on top of each other.

For example, if the hammer price is $100 and a 10% BP + 10% GST applies the final invoice amount will be $120.00.

Please note – Under QLD Office of Fair Trading rules any additional fees must be declared prior to the auction or the lot offered. It is the buyer’s responsibility to account for any additional fees when bidding at auction.

SELLERS COMMISSIONS & FEES

A commission is usually charged to the seller and at times additional fees such as listing fees, PPSR checks etc. These fees are deducted from the hammer price.

For example, if the seller’s commission is charged at 10% and a listing fee of $1 applies the settlement amount payable to the seller would equal $89.00.

DISCLAIMER

The fees and commissions used in this post are examples only and do not necessarily reflect the actual fees used at individual auctions. When bidding at auction please refer to the terms and conditions for the actual fees. Sellers fees/commissions are outlined in the consignment agreement.

 

by

by

Director/Auctioneer

Bidding Increments Explained

Bidding Increments Explained

 What are bidding increments and how do I know what they are?

There are various methods by which auctioneers will accept bids at auction. Most chattel auctioneers will accept bids at certain increments and possibly update the amounts as the auction progresses. This post explains the incremental bidding process used by the auctioneers at Hinter Auctions.

What are bidding increments?

Bidding increments are simply the amount the auctioneer will increase the bids during the auction.

As a general rule, the bidding increment will be approximately 10% of what the current bid is. For example, if the bid is currently $200 you may expect the bids to be increased by $20. The auctioneers at Hinter Auctions (and most auction houses) have a set base of increments to work with. These are called number brackets.

Whilst the auction house does have these number brackets to work with they are a guide only and the auctioneer does have full discrepancy as to what the bidding increments should be. The auctioneer may increase or decrease the bidding increments during the auction for various reasons to maintain flow and efficiency.

Below is an example of the Hinter Auctions number brackets.

How do the bidders know what the increment is?

There are 2 answers to this. One for on-site bidders and another for online bidders. As Hinter Auctions often run simulcast auctions (on-site and online) I will answer them both.

On-site Auction Bidders

In a live auction format, the auctioneers will state what the increment is to be. With the fast pace of the usual chattel auction, it is important to listen to what the auctioneer is saying. Auctioneers often have their own unique style of stating the increments. You may hear the auctioneer say something as simple as “$10 bids” or another way of asking for the same increment may be “taking teners”. Another way of stating increments may be in percentages for example the auctioneer may say “1/4 bids now”. The increment in this case would depend on where the bidding is at eg. if bidding is in the hundreds then a 1/4 bid would be $25. If it is in the thousands a 1/4 bid would be $250 and so on.

This may seem a little daunting but if you listen to the auctioneer call a few lots you will soon understand the general bidding increments and how they are called.

Online Auction bidding.

Whether you are bidding online in a live or a timed format the answer is simple and basically the same. On the screen, you will see what the asking bis is, rather than the increment. For example, if the current bid is $50 and the current increment is $10, then displayed on the screen will be the asking bid of $60.

Can a bidder ask the auctioneer to accept a bid out of increment?

A bidder can ask the auctioneer to accept a bid that is out of increment. For example, there is the so-called “killer bid” where a bidder may call for a high bid in an attempt to put off other bidders. The opposite is also true where a bidder may call for a lower increment in an attempt to hopefully secure the item at a lower price.

It is totally up to the auctioneer what bids are accepted. In order to maintain control of the auction the auctioneer may not accept bids that are out of the increment stated.

Keep it fun and flowing

The main reason Hinter Auctions auctioneers use set number brackets is to keep the process fun and flowing. Most of our auctions contain between 300 – 400 lots and so it is imperative that the sales are conducted in a smooth, flowing, and fun manner. We love to see new bidders learn about the auction process and get amongst the bidding action.

If you would like to learn more about increments or the auction process feel free to contact us any time.

 

 

by

by

Director/Auctioneer

Navigating The Auction Online Catalogue

Navigating The Auction Online Catalogue

 Navigating The Hinter Auctions Catalogue 

Here at Hinter Auctions, we have worked towards presenting the best online catalogue and bidding platform out there. The online platform provides numerous options for the viewer and potential auction bidder.

Auction Info

Once you have clicked into the auction you are interested in we recommend that firstly you go to the “AUCTION INFO” section. This will give you all the information regarding the auction including:

  • Address details
  • Viewing times
  • Contact details
  • Shipping and collection details
  • Terms and Conditions

Auction Catalogue Search Features

The Hinter Auctions online catalogue gives the ability to search by a number of methods including:

  • Keyword
  • Category
  • Price range
  • Lot number (you can go directly to the lot if you know the lot number)

Taking A Closer Look

If a lot or item attracts your attention there is a lot more to discover. Click into the lot and scroll down to find more information in the description. Further details could include measurements, blemishes/faults, background information, additional terms and more.

Images

The team at Hinter Auctions endeavours to capture as much detail as possible with images. There are usually several images taken of each lot detailing various aspects of the item/s. We encourage you to take the time to look at the detail in the images. If you are on a computer there is the magnifier feature and of course, if you are perusing on a smartphone or tablet simply zoom by expanding with your fingers.

Add The Lot To Your Watchlist or Ask For More Info

If after looking at the description and photographs there is the ability to add to a watch list (if you have created an account and are logged in) and/or ask for further information on the lot. To add to your watchlist simply click on “Add to Watchlist”.

If you want to know more about the lot click on “Ask a Question” enter the question in the text box and it will be directed to support for a response.

We hope you enjoy using the platform whether you are bidding in-house or online. We hope to see you at our future auctions and we are always on hand to answer any questions. Feel free to reach out at any time here…

by

by

Director/Auctioneer