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Why Sell Your Home At Auction? | Auction Benefits For Sellers | Prep. and Execution | Auction Dictionary | My First Auction

Successful auctions require preparation and attention to detail. Preparation and Execution details are listed below.

* DISCOVERY…
* SET AUCTION EXPECTATIONS…
* DOCUMENTATION..
* ADVERTISING…
* PERSONNEL
* FINANCIAL & FINALIZATION
* INTERNET BIDDING

DISCOVERY and SET AUCTION EXPECTATIONS…

Our first step is to understand our client and their special needs. Once accomplished, hathaway can create an auction strategy. This strategy will lay out the realistic financial expectations as well as the advertising, documentation and auction method protocols.

DOCUMENTATION

Hathaway prepares detailed descriptions, enquires of any provenance, and takes photographs of the auction items as soon as they have been cleaned and prepared. This written account allows us to auction on and off the Internet. It also enables better financial forecasting and venue planning.

(Auction item descriptions may include the manufacuterer name, the model number, serial number, special features, when applicable)

ADVERTISING

We will prepare all aspects of the advertising for the auction sale. This includes a camera-ready design and layout of the brochure and trade publication ads when applicable. We believe absolute advertising control is a key ingredient to a successful auction sale. Moreover, Hathaway will also generate buyer/biders packages for the day of auction.

Tageted ads to include trade Magazines, Newspapers, Direct Mail by Standard Industrial Classification Code (SIC), direct mail/email to Hathaway opt-in user base and online cost-per-click campaigns.

PERSONNEL

We will supply the necessary supervisor who will oversee the auction sale program from the inception through the sale. Our supervisor will be on the premises for the time necessary to assure the desired results. The auctioneer in-charge will also review the progress of the sale preparation and be available to you.

Our supervisor will oversee the tagging, lotting and cataloging of all items and arrange them in the order in which they will be sold. He prepares the information to be incorporated into an auction catalog, which will be handed out to prospective buyers upon entering the plant for equipment inspection. He will also arrange for the catering and a security guard for the day of the auction sale when required.

We will also supply the clerks, bookkeepers, deposit takers, lot callers and auctioneers for the day of the sale. Our sales are fully computerized and our bookkeepers use the computers to maintain complete sales records, invoices and current sales totals (even while the auction sale is in progress).

FINANCIAL & FINALIZATION

Depending on the circumstances, Hathaway Auctions will advance monies required to cover the auction expenses as outlined and will be reimbursed for all costs and commissions from the gross sale proceeds.

Hathaway Auctions will be responsible for the collection of deposits and for the final payments from all buyers as detailed in our agreement.

You will receive full payment within 10 working days after the sale. This will be accompanied with a full and detailed report of the sale. This report will include a complete accounting of the auction sale, as well as a detailed breakdown of expenses incurred and copies of invoices paid. This report will also include a copy of the auctioneer’s original sale catalog, detailing all items sold with their respective prices, and copies of the ads run.

INTERNET BIDDING

We offer internet bidding as an additional service that allows a potential buyer to bid during an auction sale, via the internet, in real-time, in competition with the buyers that are in attendance at an auction sale. This is a fully interactive bidding system. Internet buyers make bids, get out bid, and bid again, in full competition with the buyers standing in front of our auctioneer.

Timing and distance are sometimes too great an obstacle for some potential buyers to overcome. Internet bidding allows interested buyers to bid at an auction sale from the comfort of their own office.

We will assist you in evaluating the potential positive and negative impact that internet bidding might have on your auction sale.