Tip No. 4 – Consider multiple profit centers

Aumann Auctions Inc. — MarkNet Alliance Member, Nokomis, Ill., which auctions collectible toys, conducts business liquidations and sells real estate, has started to incorporate multipar bidding for more than just real estate auctions.

“What you see is buyers migrating from machine to machine or item to item,” says Kurt Aumann, CAI, ATS, adding that the approach helps improve prices achieved at auction.

As a profit center, the company now offers shipping services. Its strategic alliances with shippers have made purchases at Internet auction more convenient for buyers, Aumann says.

The company’s Jodi Reynolds, CAI, is in charge of its shipping division. She says the value-added service has now become a money maker.

Reynolds says shipping helps the company compete with online retailers such as Amazon and eBay. She told summit attendees that Aumann might charge about $25 for a shipment that costs it $18.

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.

Read the last tip.

Read the complete article here.

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Filed under Auction Industry, Auctioneer magazine, Education, NAA Members

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