Excitement, confidence and competition are the three essential
elements to a successful auction event, and every detail of our
auctions is carefully orchestrated to provide these elements.
EXCITEMENT
Many people who have attended one of our auctions describe the
atmosphere as electric.
The auctioneer first explains the terms of the auction and gives a
narrative of the property's highlights. He then sells an item at
auction, such as a piece of art, with proceeds going to charity, to
familiarize the audience with bid calling. We treat bidders like the
VIPs they are, typically providing such amenities as valet parking,
hors d'oeuvres and live music in keeping
with the nature of the type of property being sold.
CONFIDENCE
One of the most important auction-day functions is to provide all
the information needed to bid with confidence and enthusiasm. If the
auction is on site, we give them a chance to take one last look
around, and we provide answers to follow up questions - from the
zoning to the type of stone used in the fireplace!
This also gives us one more opportunity to point out the features of
your property,
emphasizing its value, and to build a rapport with the bidders that
helps us to start with strong bidding once the auction begins.
Finally, we work to make sure each bidder understands what to expect
before, during and after the bidding to ensure that everything goes
smoothly.
COMPETITION
At its essence, the auction process is about competition. The
auction event places bidders in a competitive environment when
bidding for your property, and you can believe they're always aware
of this. There's nothing like seeing others prepared to bid on a
property to reinforce the value of your property in the bidder's own
mind.
Finally, it's time to begin. The auctioneer steps up to the
microphone and explains the entire process, the terms of the
auction, and the "bid calling." Then the competition begins.
As the auctioneer calls the current bidding level, our experienced
Auction Floor Assistants circulate among the bidders to answer
questions, encourage participation and relay bids to the podium. As
the bidding ends, the auctioneer gives everyone fair notice that
bidding will soon close. At that point, the auctioneer closes
bidding and the property is sold.
Immediately afterward, our staff attorney or contract personnel will
meet with you and the successful bidder to sign the necessary paper
work, collect the down payment (usually ten percent), and arrange
for the closing, which is usually scheduled within 30 days.