Sellers - Big Liquidation

Auctions – The SMART Choice

Auctions are more popular than ever, with new technology pushing a revolution in this space and a growing number of aged folks in the population. People now need a way to liquidate businesses and personal assets with a quickness. The availability of many national platforms and venues of sale all us to reach such an audience that our prices realized are well above that of a conventional sell off.

Competition among the bidders is fierce compared to conventional ways of selling off unwanted or excess merchandise. With the rise of social media and eCommerce in general we can realize much better prices than ever before in history.

With the limitless reach of the internet, our captive audience reaches many interested qualified buyers and are more publicized than most sales. This gives us the potential to realize much higher prices way beyond that of our local or regional markets.

Sellers receive payment within 3 days of the event and can rid themselves of unwanted equipment reducing taxes, maintenance and carrying costs.

When most people think of auctions, they picture a live auction that takes place on a single day. But these days, there are more options than ever that can make the process more convenient and open the bidding up to buyers all over the world. As the seller, it’s up to you to decide which auction setting and timeline is the best fit for your liquidation needs.

Live On-Location & Webcast

Simultaneous On-Location and Online Webcast auctions are the most exciting auction type. Interested buyers are able to physically preview the assets at the on-site location where they are located and participate in a bidding environment that is electrically charged by a professional auctioneer.

The Webcast brings the dynamic auction floor to remote bidders and allows potential buyers from anywhere, to participate in the live auction, real-time and bid, along with and against individuals bidding in person.

Live Online Webcast-Only

Live Online Webcast-Only auctions are conducted by an auctioneer and allow remote clients to bid online in real time, on items from anywhere in the world. Live Online Webcast auctions help sellers to transcend local market conditions and achieve national Fair Market Value for their assets.

Timed Online-Only

Timed Online-Only auctions are easy to use and are an effective way to attract buyers from across the nation and abroad to engage in bidding. They provide sellers easy exposure to expanded markets, and allow buyers from anywhere, with Internet access to bid and buy used equipment and assets.

Sellers’ items are listed individually as part of the sales catalog and bidders bid against each other in real time.

This style auction provides flexibility in scheduling and timing, and site inspections can be conveniently scheduled. Travel by the bidder is not necessary and they can bid at ease from home or office. The sale closes (finishes) at a given time on a given day and all lots are sold with no reserves.

How We Prepare the Site

About four to six weeks before the auction, we begin preparing your site. We pay careful attention to this step, because it’s important to help maximize the value of your assets.

During this preparation, our setup crew will sort through your assets and group like items together into lots, move machinery, equipment and accessories into a logical auction order, clean the machines and facility, tag the items for auction, and catalog each auction item.

The members of our auction setup crews are full-time professionals; most have been with our company for many years. We do not use temporary help to prepare your items for auction. Our crews work with your staff to ensure that we as well as any visitors comply with company policies and adhere to safety standards.

All auction setup expenses, just like the advertising expenses, are included in the pre-approved auction expense allowance. Myron Bowling Auctioneers pays all expenses through the sale until settlement.

Our crew will also be responsible for a public inspection of the assets one day before the auction. This inspection gives potential buyers the opportunity to see the machines operate (by your staff or with your permission only) and fully inspect any equipment they plan to buy.

Auction Day

A six or seven person sale crew of auctioneers and office staff will conduct the actual live auction. These are trusted employees who have many years of experience with the company. They handle bidder registration, auction calling and selling, sales support, sales recording, invoicing, collection, security and other aspects of the sale day.

This crew travels with computers, printers, signage, and other necessary items to create a professional mobile office, and use a proven asset tracking and financial management system for full auction accountability. Myron Bowling, our founder and president, will serve as principal auctioneer and is supported by other experienced auctioneers.

Following the Auction

We will have a crew on site following the auction to supervise the removal of the sold equipment and ensure that your company and Myron Bowling Auctioneers are protected. Removal of items generally begins as soon as the auction ends, and continues as long as necessary (typically one to two weeks), but 30 days is generally allotted.

Anyone using a powered vehicle to move items, whether they are a rigger or a buyer, must have a certificate of insurance on file in the amount of $1,000,000.

At each auction event, we provide a list of independent service providers and riggers available to contract with buyers for the crating/packing and shipping of purchased equipment. We offer this list as a service to help buyers meet the time-sensitive equipment removal deadlines at each individual customer’s auction.

After the sold equipment is removed, our staff will manage and assist in site clean up.

Frequently asked questions by sellers

What is "Subject to Owner Confirmation"?

Many times, we will attempt to sell the real estate that is associated with the auction. The owner has the right to accept or reject the high bid. This is called “Subject to Owner Confirmation.” If the property sells, the auctioneer receives the buyer's premium. If the property does not sell, there is no obligation to the auctioneer.

Does the owner have any obligations?

The owner should provide clear title to the assets being sold, access to the property (usually for a period of 60 to 90 days), and provide all utilities until the building/property is vacated.

What are the auctioneer's responsibilities?

To properly clean, set up and organize the equipment, advertise the auction, conduct the auction and supervise the removal of goods after the auction.

Once an agreement is reached, how long will the whole process take?

It usually takes 6 to 8 weeks to do everything necessary to conduct a good auction. This is from the time we start until the building is broom clean. There are always exceptions. We have been able to conduct auctions in as little as 10 days; however, this can sometimes affect the outcome.

What if there’s bad weather on the day of the auction?

Auctions take place when scheduled. Keep this in mind when you are trying to decide what type of auction to have. Weather and competing auctions can have a negative effect on auction results. You can take none of the risk, some of the risk or all of the risk.

What happens at an auction?

All auctions are advertised extensively by direct mail, newspaper ads, trade publications and email. Our e-mail list includes thousands of potential buyers from all over the world. Many people download information from our web site. This results in excellent on-site and online auction attendance.

WHAT DO WE DO?

THE CORRINGTON ESTATE AUCTION

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This is an internet-only auction! No electrical equipment has been tested. Everything is bought as is. Please review all terms conditions and descriptions before placing your bid.