Auctions have been the first choice for buyers and sellers around the world
for hundreds of years.
PUTTING GOODS AND PROPERTY UP FOR AUCTION HAS THE FOLLOWING BENEFITS FOR
BOTH THE BUYER AND THE SELLER:
- The process is easy and efficient. Because the auction takes place
on a pre-determined date and time, buyers are guaranteed of willing sellers.
There are no long, drawn-out negotiations, prohibitive clauses or agents.
With Daniel Crous Auctioneers, the entire transaction is concluded within
a short period.
- The seller determines the minimum reserve price, while the buyer
can walk away at any time if the price is too high.
- The transaction is transparent. All terms and conditions are available
for public scrutiny, and no deals are made behind closed doors.
- There is a vibe about auctions. There is always the chance that you
will come across a bargain and make a fantastic investment at the same time.
- It is simple. By paying a refundable deposit (if required), you are
able to take part in any transaction as a buyer, while the seller is able
to offer his goods and/or property for sale to any willing buyer.
- Everyone wins. In the competitive environment that characterizes
auctions, both the buyer and seller are guaranteed of a realistic market price
for their goods and/or property. There is no ceiling on the maximum price
DISTINCTIVE ADVANTAGES OF SELLING PROPERTY BY AUCTION
- People who are interested in buying your property will realize that
they must commit themselves to purchase it at a specific place and time.
- An auction means immediate action, and the Auction method is one
way of bringing about such sales.
- Prospective buyers will focus their attention on your property, and
they will be aware of the fact that the property will sell to the highest
bidder at a specific place and time.
- A well advertised and well attended auction will determine a fair
market value, as confirmed by many businessmen, trustees and courts, and there
can be no criticism as to the price obtained.
- An auction is the only way to sell where there is a possibility of
obtaining a higher price than the original asking price.
ADVANTAGES OF SELLING BY AUCTION (SELLER BENEFITS)
- An auction generates interest and excitement amongst potential buyers.
- An auction creates competition amongst buyers and auction prices
can exceed the price of an already negotiated sale.
- An auction offers the seller another option.
- Potential buyers will be required to pre-qualify for loans.
- Exposure of the property to a large number of pre-qualified buyers.
- Increases sales - the property can be sold within weeks of listing.
- Interested buyers are brought to a point of decision on the date
of the auction - they must act or loose the opportunity to purchase the property.
- Auctions eliminate high seller carrying costs such as maintenance,
insurance, mortgage payments and interest, taxes, utilities, upkeep and deferred
- At an auction the highest bidder pays the lowest price a seller will
accept - which is a true market forum.
- The seller knows the exact date when the property will be sold.
- Auctions can reduce the period the property is on the market.
- Auctions eliminate numerous and unscheduled showings, which amounts
to time and money being saved.
- The seller is in the position to set the terms and conditions of
the sale, maintain control of the property through the Auction and can actively
participate in the auction process.
- Auctions provide positive rather than negative marketing.
- Auctions remove the seller from the negotiation process.
- The Seller is able to quickly obtain liquidity.
- The Seller is able to obtain capital and move on to other investments.