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AUCTION CO. |
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Auction Services
Over the past fifteen years Patrick Nugent Auction Corp. has conducted hundreds of appraisals and auction sales for Industrial and Commercial Manufacturers, Corporations, Small Businesses, Banks & Leasing Companies, Law Firms, and a numerous amount of private individuals. Our services usually start with a walk thru inspection or appraisal of the subject assets to be sold or liquidated, and to determine the best needs and interest of the client. After a through inspection and inventory of the assets a marketing budget is determined, a date is selected, a contract is signed and the auction process is underway. Dependent upon the scope of the marketing to be done for the auction sale a typical sale could take from 2-4 weeks from contract signing before the auction sale takes place. One of the most important aspects to remember in the proper setup of an auction sale is advertising. Newspapers, brochures, internet, broadcast fax and magazine advertising can be very expensive, but it is the most important aspect of an auction sale. The more people who attend your auction sale the better your odds are of obtaining of what you expect to realize from the proceeds of the auction. We have been fortunate to experience that just 1-2 serious buyers can make all the difference in the world in the realized proceeds for the seller. Over the past ten years experience has taught me that a properly marketed and conducted auction will attract the most interested and highest bidders on auction day. Remember when you sell at auction the buyers usually settle the day of the auction sale. Just this consideration in itself is worth some discount to the buyer. The last step is to determine an advertising budget for the auction, brochures, commission, time stipulation to settle the proceeds with the seller, labor to setup the facility, date, time, clean up after the auction etc. Auction Sales are conducted on a commission basis only as a percentage of the proceeds realized from the auction sale. Industrial & Manufacturing Plants Machinery & Equipment Construction & Contractors Equipment Auctions Building Trades Contractor Auctions
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