Tip No. 7 – Skip preview when possible

Rob Doyle, CAI, CES, of United Country — Absolute Auction & Realty Inc., Pleasant Valley, N.Y., conducts some estate auctions in a unique way.

For some auctions, he has two-person teams go into clients’ homes to assess the value of their belongings. They place items together into lots with minimum values of $100 per lot.

Then, the team photographs items in a house, room by room, without assigning lot numbers. Description and organization of items follows this process.

Using this procedure, the company can get the contents of a three-bedroom house ready for auction in about three hours, Doyle says.

The company offers no preview to potential bidders; however, the company provides preview time for items that are in its auction center.

Because the company offers no preview in some estate sale situations, it is able to lot items more efficiently, skip the tagging process and provide better security.

Doyle’s fellow panel members agreed there is less need for preview when it comes to lower-vale items, while preview is still necessary for high-value assets.

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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