The Live Auction is where assets are sold at a specific time and location. We highly recommend conducting the auction at the business site. This auction style requires bidders to attend the auction event in person and to register and meet any conditions or terms that have been established from our initial consultation with the seller.

 

The Live Auction will generally have a preview date and time, allowing prospective attendee’s time to review and inspect all items being offered in the auction. Generally, the preview and inspection date in the day prior to the actual auction event.

At the beginning of the auction, the auctioneer will read any established terms and removal period of auction items. The auctioneer will then begin to open the auction up for bidding and solicit bids from the bidders on each item or lot that has been identified and inventoried from the assets prior to the preview and auction.

 

For Buyers:

The auctioneer will ask for bids, and the bidders can accept his invitation or make a different valued bid. These processes will continue until the highest and best bid is made for each individual lot. Generally, the opening bid can be set by the auctioneer or seller.

At the conclusion of the auction, all bidders pay for their purchases and remove the items from the location in accordance with the removal schedule pre-determined by the seller and auctioneer.

 

For Sellers:
We will first meet with you and thoroughly explain all types of auction methods available and suggest the best method for your personal situation. Once the auction method is selected, we will present you with a suggested time line, marketing budget, auction agreement, specific terms for your auction, and set up requirements for a successful auction event.