Penny Worley, CAI, of Worley Auctioneers & Appraisers Inc., Maineville, Ohio, told summit attendees she uses online auctions because they allow her to conduct multiple sales simultaneously. She still uses traditional marketing and public relations to market the online events.
Similar to Howe, Worley offers her clients unique financial options before auctions.
Her approach involves sellers’ responsibilities for paying presale marketing costs. She offers them two options: 1) An agreement that her company will take on all advertising and labor costs in exchange for a higher commission structure; or 2) An agreement that sellers will pay advertising and labor costs in exchange for a lower commission structure.
This tip is adapted from “25 tips for your auction business,” a story in the March 2013 issue of Auctioneer magazine. This blog will feature the top 15 tips.