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

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