Methods of Auctioning
Prospective Sellers have many Auction Event choices. Each choice brings with it its own set of unique features and advantages. Together with a UBA staff member, we will help you decide on the Event option best suited for you and your assets.
- Auction Event Sale: This is one of our more common choices and is great for both small and large estate sales and personal property sales. Think of it as eBay on steroids. UBA guides you through the detailed cataloging and inventory process, preview period, live online auction, and closing. This experience is exciting to both buyers and sellers alike.
- UBA Supervised Event: When a seller cannot be present or feels uncomfortable with the Auction experience in general, UBA can take 100% control of any and all assets needing to be liquidated. You decide the timing of the event and the items to be or not to be sold, and UBA will take it from there. We will supervise the Preview Period and Removal Process and all else in between. Sellers will be encouraged to forward to UBA a predetermined inventory of assets to be auctioned along with related digital photos for uploading.
- Friends, Family & Employee First: In some cases, Sellers may want to have an exclusive Auction Window for Friends, Family members, or Employees to give them a “first shot” at items up for auction. This exclusive experience will mirror the general auctioning experience with the exception being the initial far fewer fellow bidders each potential buyer will be bidding against. The timing of this exclusive window would be predetermined by the seller, and special emails will be sent out to those persons the Seller wishes to invite. Once the window closes, all unsold items will then be open to bidding from the general public.
- Bulking Up: Perhaps time is of the essence and assets need to be sold as quickly and painlessly as possible. In instances such as this, lumping a large amount items into “Bulk Lots” and auctioning them all together makes the most sense. “Bulking” will limit the Preview Period substantially, yet it gives potential Buyers a combined sense of excitement and mystery. If and whenever possible, bulked lots will have some items of greater value within the lot listed and spotlighted to garner more interest. Bulking can also occur within all other Methods of Auctioning. When logical, many small yet related items can be sold as lots rather than individual items. This saves time and, therefore, money.
- Total Liquidation: This is your standard Everything-Must-Go event. Common with business foreclosures, this Method of Auctioning is pretty self-explanatory. In situations where literally everything in a home or business must be sold to maximize profit versus loss, UBA will work with the Seller to guarantee all items are inventoried, cataloged, priced, and marketed in a manner that ensures total liquidation. This Auction Event is often a full-service, UBA run event with little to no encumbrance on the Seller.
- Vertically Disadvantaged Sales: Short Sales, my friends. Short Sales. Similar to Bulk Sales, a Short Sale is a last minute, gotta-get-this-stuff-sold type of sale. It rarely, if ever, has a preview period, and all aspects of the Auction Event are streamlined due to time constraints. There are many disadvantages to this type of Auction Event—lack of Preview Period, little to no marketing and advertising, and more Bulked item sales than individual items to name a few; however, we find that sometimes a “fire sale” is warranted due to emergencies and other unforeseen circumstances facing our clients. Like the full-service Total Liquidation Event, UBA will handle all aspects of this Auction Event in order to lighten the burden on the Seller. At UBA, we strive to make this type of Auction Event as seamless and painless as possible to help our Sellers find even a small amount of order in a world of chaos.
- COMING SOMETIME…: Self-Supervised Events: If a seller has only a small amount of assets to Auction, UBA may recommend this Auction option. UBA provides the inventory application to the seller which, when complete, can be easily uploaded to our website. In addition, we provide the cataloging tools for your items as well as access to our marketing tools. Sellers enjoy the increased independence allowed by this option because they get to better manage the Auction timeline around their schedules.