Do you think you know everything there is to know about auctions? We’re here to challenge the idea you may have heard about auctions by busting the myths that keep you from saving money. Some people seem to have misconceptions about auctions and the way they function. However, there is much more to these buying and selling transactions than meets the eye. All Auction Sales has compiled a list detailing some of the biggest misconceptions about auction in 2019.
You have to be there to buy.
Gone are the days of buying everything in person. By utilizing online auctions, it enables you to make bids on items from the comfort of your home or business. We know that schedules are hectic, and making it to a physical auction isn’t always an option. You can keep an eye on how your for sale items are doing and also keep an eye on how your bids are going. It’s a great advancement in the world of auctions.
Auctions are a last resort.
This is simply not true at auctions all across the country as sales soar at record levels all of the time. For many, auctions are the first stop in selling their items. This is not only because of the ease of a sale, but the consistency in getting a fair price for items.
Your items won’t sell for fair market value.
Because of the quality of items that sell at auctions, the bidding can get competitive. Many items go for fair market value at auctions, because the auctioneers are finding items of value to buyers in addition to knowing how to market to them. Each successful auctioneer knows the right sellers and buyers to get to each auction to have success for both parties. This makes the competition and bidding strong.
It’s all junk.
Not all auctions are created equal, that’s why it’s important to choose a provider with a professional reputation. All Auction Sales has new auction posted nearly daily that offer a wide variety of items that are sure to suit anyones needs.
People only sell expensive items or junk at auctions.
There are many normal things you would find at an auction for reasonable prices. You may even find some sweet deals! Valuable art can be sold for millions at an auction, but there is also commercial equipment sold for fair prices along with retail store pieces and standard private possessions.
Auctions are only in-person events.
Auctions used to be in-person, but now there are all different types! Digital auctions are an industry that continues to grow quickly which means you don’t even have to leave your home to buy the prized possession you’ve been looking for. Although live auctions are still popular, online auctions are able to cover a variety of industries as well.
Auctions don’t work.
If a seller is unmotivated or unrealistic, then there is a chance the auction will fail. With a seller who is ready to part with their possessions and accept the prices offered, then an auction will be a success. The seller must realize that some things may not sell for their true value while others may go above and beyond expectations.
Auctions are a last resort.
Record sales have been set at auctions for all industries which means that myth will always stay a myth. Auctions create competition and that allows prices to be raised higher than normal because bidders get competitive and don’t want to lose out on what they’re bidding on.
You have to pay to attend an auction.
You do not have to pay to attend or register for an auction. You can even come just to watch and not buy anything. Auctions welcome anyone who is interested in what is being sold, whether you end up purchasing something or not.
We hope that by clearing up these common myths, you can be more confident when attending an auction on your own. Auctions are great for finding a good deal and the item you really want, or for selling your own items.