Live Auctions vs. Online Auctions: Which is more beneficial?
There is a growing debate both within and outside of the auction industry on the validity of online auctions. New online platforms are emerging everyday giving sellers the opportunity to “Auction” their property at a reduced cost or one time fee.
When deciding which avenue to pursue, one should first ask him/herself, “What is the value of the asset/assets I need to liquidate?” If you are simply selling household goods or low-end items, an online auction may be the most cost effective route to liquidate these goods with the least expense incurred.
However, when dealing with higher value assets like cars, equipment, real estate, etc., consulting an auctioneer should be your initial move. An auction company will embody all of the many different facets of the accelerated marketing method to generate the most profit for your assets.
Auctioneer’s often incorporate online auctions when selling goods, whether that be using an online auction only, or adding online bidding to a live auction to devise greater competition.
Live auctions are ultimately best. An auctioneer will design a marketing campaign specifically designed for your real or personal property, and advise you on when and when not to use online auction outlets. On the day and time that has been established to auction your property, the auctioneer will create an environment that is unmatched and unrivaled by any online auction platform. He/she and the bidder assistants will engage buyers to compete for your property, driving up the final price and establishing true market value.
Bottom line. A computer can’t ask an interested buyer to bid again. Live auctions have the ability to reach out and connect with their bidders, encourage bidding, generate a sense of urgency, and create a large amount of interest with targeted marketing, resulting in higher profits for the seller.
Until next time…
Justin Ochs, President
Affiliated with Real Estate Auction Firm StanRich Auctions, Inc. Firm #3829
“Choosing the right auctioneer to handle your auction often makes the difference. With a passion for excellence and extraordinary performance, Diamond Ochs Enterprises, your Tennessee Auctioneer, works to secure the highest dollar for your assets…”