Online Auctioning is nothing new. eBay, around since the late 1990s, pioneered many of the methods UBA utilizes, albeit at a much smaller scale. One of the major benefits of online auctioning is the stress that is taken from the Seller and instead placed on the enormous pool of interested Bidders. Sellers simply need to have “stuff” to sell and the willingness to allow UBA to walk them through the process of running the Auction online rather than in person. The messiness and unpredictability of a live Auction, along with the inconvenience of having to sacrifice hours and hours and days and days of Auction prep and post-sale clean up, not to mention the privacy issue, has made those old-fashioned live auctions a soon-to-be memory. Though exciting for many, the work involved to prep and tear down is no longer worth the aggravation. UBA specializes in estate sales, large personal collection sales, business foreclosures/clearances, liquidations, and down-sizing decisions. If you have a large number of items to sell but not a whole lot of time to sell them, UBA is here to help. We take the pressure and stress off selling so you have more time to do what you need to do. Unlike eBay, which requires the Seller to input all the information about one item at a time to be sold to one seller at a time, UBA deals in Auction Events where many assets and items become available to hundreds of potential buyers as soon as the Event goes live. UBA is an online, event-based Auction House able to handle the biggest of liquidations, estate sales, business foreclosure, et al!
From the moment you sign a contract with UBA, the stress is taken from you the Seller and placed directly in the hands of our staff. In our Post-Referral Meeting, we will evaluate your assets, work with you on a vision for your Auction Event to decide what Method of Auctioning works best for you, decide on the timing and duration of the Preview Period and actual Auction Event, and then start the process of cataloging your Assets. Here is a more detailed look at the Auction Event Process:
- Post-Referral Meeting/Asset Evaluation: You have stuff to sell and we want to help you sell it. During this meeting, you will meet with a UBA staff member to assess the specifics of your Auction Event and prepare a Seller-Specific Schedule.
- Agreement to Agree: If you like what we have to offer, we will prepare a detailed agreement letter complete with important dates, terms of sale, and any additional Seller-Specific details. It is during this time when you the Seller will need to decide on the use of buying options such as My Best Offer or Buy It Now. Once agreed upon, you sign on the proverbial dotted line, complete your Registration, and your work is over and ours is just beginning. Upon contracted agreement including Terms of Sale, the Auction Event Team will assign you, the seller, a Unique Client Number (UCN) & Unique Auction Number (UAN) that will be exclusive to you, the seller, and your particular Auction Event.
- Catalogue & Pre-Event Marketing: As soon as we have your signed paperwork in hand, we will start the marketing and advertising: traditional print, web, radio, online newsletters, and social media. Our marketing will be tailored around the size and specifics of your Auction Event. While the marketing is being done, a UBA staff member will catalogue all items up for auction in a detailed inventory including pictures, and upload them to your specific Auction Event on our website.
- UBA Auction Event Web Teaser: Once all items are catalogued and uploaded, UBA will begin to “tease” current website visitors and members with small previews of your Auction Event. This typically occurs 5-7 days prior to the Open House & Online Preview.
- Open House & Online Preview: As the seller, you have the option of having an in-person Open House period 1-3 days prior to your Auction Event going live. This Open House will be supervised by you the seller and/or a UBA staff member and will have specific days and times during which interested bidders can inspect the items that will be up for auction. Sellers can also choose to have the items available to preview online prior to the Auction Event going live. Again, we recommend a 3-5 day viewing period prior to the start of your Auction Event. Please visit the PREVIEW IT! tab for additional info.
- Auction Event goes LIVE: Self-explanatory, right? Your Auction Event duration will be determined in the Agreement Letter phase.
- Event Closing: Your Auction Event will have a Dynamic Close rather than a Static Close. A Dynamic Close simply means that not all items will close at the same time but, instead, be staggered to add an additional element of excitement to your Auction. This gives potential Buyers time to bid up on items they are interested in, especially if they have lost out on earlier-ended pieces.
- Bidder Notification & Payment: At the conclusion of each sale, all bidder transactions will be processed automatically. Sales receipts are generated automatically to each winning bidder and sent via email. These receipts, along with photo ID, must be presented by the winning bidders at time of pick-up before items can be removed.
- Removal: This agreed upon time period will allow all Buyers to pick-up their items in a timely manner. The removal will be supervised by either a UBA staff member, the seller, or both. Buyers will be reminded of their responsibility to bring all necessary tools, help, and proper vehicles to the removal. For bigger items, Buyers will be encouraged to hire professional movers to handle the removal. Most removals will require at least 2 days, sometimes 3 depending on the number and size of assets sold.
- Reconciliation and Post-Auction Interview: Upon the completion of the removal process, UBA will prepare and present a detailed Auction report complete with Seller inventory, bidding history, revenue, costs of sale and disbursement of proceeds. We will also conduct a post-auction closing interview to get useful feedback from you, the Seller, about ways to improve our service. All Sales Are Final (ASAF) Report is given to you, the seller, and the reconciliation of funds is delivered within 10 business days.
- Unsold Items: Most if not all Auctions inevitably have unsold items. It’s the nature of the beast. You, the Seller, have several choices with regards to the unsold items. Please check out our Unsold Items link.