For Sellers

Why Should I sell at Auction?

Auctions are the most unique and valuable way of selling almost any type of personal property. Some of the most popular auctions are those that involve household items, or livestock or antiques. But auctions involve so many more possessions: automobiles, office equipment, art, machinery, industrial equipment, electronics. One very rapidly growing area is real estate. More and more people are buying and selling their homes and land by the auction method.

People are Flocking to Auctions

Auctions are one of the oldest forms of selling property; their history spans centuries. And time has only increased their popularity. A research study commissioned by the National Auctioneers Association shows that auctioneering is an industry on the rise.

Did you know that more than half of the total U.S. population has attended a live auction?
In 2004, the value of all goods and services sold at live auction in the U.S. was approximately $202.7 billion. This figure is up 6.8% over 2003 and translates into a huge number of satisfied buyers and sellers of goods.

They’re entertainment at their finest. That’s what most consumers say about auctions and that’s the number one reason they attend. So what makes them so fun and entertaining? Some say it’s the unexpected and the idea of experiencing something original.

All in all:

  • 83% think auctions are an exciting way to get good deals
  • 51% think they offer a great value on items
  • 65% think auctions offer exciting items they wouldn’t otherwise purchase
  • 53% like the excitement of getting a good price

In addition, consumers find auctions fun because they’re a rewarding activity for the whole family to enjoy. On average, consumers are willing to drive 1.3 hours to attend a live auction, with 75% bringing the family when they go.

The Value of Selling at Auction

So how can auctions benefit you, as a seller? Why are they the best way to sell property? Well, there are a number of reasons:

  • Speedy Process, Quick Turnaround.
    An auction is immediate. It happens during a set time and is completed during that time. It’s quick and efficient.
  • You Set the Time and Place of Your Sale.
    It’s as simple as that. You work with the auction firm to schedule what works best for you.
  • You Know Exactly When Your Property or Goods Will Be Sold. There’s no wondering whether or not your property will sell. It WILL sell and it will sell during the set auction time.
  • Comprehensive Marketing of Your Property.
    Part of conducting an auction is marketing it to the general public to get as many people there as possible. Auctioneers have comprehensive mailing lists they use to market their sales. They run advertisements, distribute fliers and more. They are marketing specialists. A good marketing effort can easily bring 300 to 400 people to your auction, or more!
  • Buyers Come Prepared to Buy.
    Auction goers come with money in their wallets, pockets and hands and are prepared to come home with property. It’s a seller’s delight. For real estate auctions this is especially advantageous because buyers must qualify to buy through a deposit of a certified or cashier’s check.
  • No Negotiations.
    There is no haggling over price or merchandise. The auction method is quick and efficient. When people bid, they make a commitment to buy the property at that price without discussion or debate.
  • No Leftovers and Little Clean Up.
    Every item at an auction goes up for bid and every item is sold. How many of you have ever had a garage sale and when you’re finished, you spend hours packing up what didn’t sell and looking for places to store it? With an auction, there’s no worry about what to do with leftover items because there aren’t any. This means very little clean up, also.
  • Competitive Bidding.
    Auctions motivate buyers to perform. People get caught up in the competitiveness of the bidding and many times this drives the price of items higher. To some it’s like a game, and they want to win at all costs (or hopefully for you, at high costs!) And did you know that 9 times out of 10, an auction brings in the fair market value, if not more, for any item put across the auction block?
  • Exciting Atmosphere.
    There’s no more exciting atmosphere than an auction. Crowds of people competing for property, combined with that lively auction chant makes for some great entertainment and fun. (Give them a sample of your chant.) It makes people feel good and makes them feel like spending.
  • Auctions Work Well in Both Good and Bad Economic Times.
    People love auctions, because they love sales. Statistics show, in a good or bad economy auctions remain a steady force. When the economy is bad, the auction industry does not feel the impact: people still flock to auctions.

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Contact us for Business Appraisals!

Colleen Daniels, Star Financial Bank

Gallivan Companies are always willing to provide assistance, answer questions or help problem solve issues relating to values or liquidating assets. I have used Gallivan for auctions and appraisals of equipment and inventory; and have always been extremely satisfied with the results. An aspect of their business philosophy I appreciate is if they are not the best source to use on a particular asset type they recommend who is and partner with them. I recommend Gallivan without hesitation.

Ryan Davis, Regions Bank

They took the time to explain the industry and the best methods to reach the recovery value. The borrower complimented us on Gallivan’s professionalism and knowledge.

Paula Davis, First Tennessee Bank

Gallivan exceeded my expectations for the auction and stayed within budget. I could not have been happier with the results.

Steve Yount, Babcock & Yount

Gallivan knows the business, are creative, and hard working. They are diligent about getting the best results for the clients, while at the same time being conscious of the cost and the bottom line outcome.

Matt Breeden, Champ Car Racing Series

Norm, and his company Gallivan Auctioneers, handled the auction for the assets of Champ Car. In just over 2 months, Norm and his staff were able to efficiently and professionally organize nearly 30 years and 100,000 square foot of accumulated assets into a saleable format. Further, their marketing and implementation of the auction was expertly handled, resulting in significant revenue to the company. All throughout the process Norm was very communicative and ensured that his staff was as well. If I were to be in the market for an auction company in the future, Norm would certainly be getting a call from me.

Wendy Basch, First Midwest Bank

I and my team have worked with the Gallivan team on several different auctions and appraisals from construction equipment, specialty equipment and Commercial Real Estate. I find them to be problem solvers, very knowledgeable about their industry and very willing to go the extra mile to make things work. On average, their results are better than any other company I’ve worked with. They have been very candid about what to expect and what they can deliver and is consistently responsive to our bank’s needs. I would highly recommend them to anyone looking to liquidate assets.

John Willis, Elixir Industries

I wanted to take the time to let you know how impressed I was with the Gallivan Team. From the time I met [Matt and Norm Gallivan] till the last item was removed from our property the entire process was flawless. The fact that you guys make it look effortless is a testament to the skill level you bring to the table. Everyone on your team is a true professional and went the extra mile to make the auction a success. Thanks again for all you and the Gallivan Team did!!