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Business

Training

Processing the Auction

Quality and efficiency are vital to processing an auction properly. The average time for processing a 400 lot auction should be approximately 4-7 days max. Take one step at a time and follow the time tested, proven process. Quality is key to a successful auction.
  • Step 1: Sorting - all inventory should be sorted and lotted prior to any other step, whether an estate or a business. This will help get organized as like minded items can be placed together for auction.
  • Step 2: Lotting - IMPORTANT - Each lot should be able to average or exceed a minimum at least $25 in bids (not retail value nor what it is selling on eBay for). The best way to estimate this is with your own honest opinion. Would you pay $25.00 for that made in China vase? if not then it needs more items added to the lot.
  • Step 3: Tagging – Start tagging lots at number 1 and tag in an organized manner. The best practice is start to the right of the door to each room and tag around the walls counter clockwise then the items in the center of the room.
  • Step 4: Quality photos - Taking quality pics so the product looks appealing to bidders is a key to successful auctions. Use proper lighting and background when possible. Quality pics = Quality bids = Quality paycheck
  • Step 5: Writing Quality Descriptions – Describe items using keywords for search engine optimization, google needs to find it. A good description uses the acronym BMDM = Brand-name, Model-number, Describe-it, Measurements. Note: It is highly recommended to NOT place retail value (sells on Amazon for $199) in the description. The reason is, this automatically limits the bids to under that amount. Let the bidders do the homework of finding the value. Special Note: Use spell check.
  • Step 6: Upload to platform - Final edit, schedule preview, closing & pickup days.
  • Step 7: Advertise - Post ads for more bidders on quality sites like the sites in the tool box. Get the word out and let everyone know you have an auction open for bidding.
Learn from mistakes and always seek to improve your system!

Writing a Quality Description

Remember (BMDM) Brand name, Model number, Describe it, Measurements, when writing descriptions. A good description achieves many goals.

Well informed bidders = higher bids
More search engine friendly = more bids
Educates you for future reference

The following are actual descriptions taken from online auction companies. We have rewritten the descriptions per our standards.

  • Actual “Dreser” – Corrected = Thomasville Solid oak wood chest of drawers with brass handles and maple secondary wood drawer boxes. 54 x 32 x 18
  • Actual “Hunting gun” – Corrected = Remington model 870 express 12 gauge pump shotgun with barrel choke and composite stock
  • Actual “Old fancy glass vase” – Corrected = Vintage Fenton uranium glass hand blown handkerchief vase, 8” tall. (Never use “Old”, use Vintage or mid century etc. A genuine antique must be 100 years old or older per GPPA standards)
  • Actual “Mr. cofee coffee maker” - Corrected = Keurig single cup coffee maker. Model K70. untested
  • Actual “Genuin Vershache silk ty’s” – Spell check!!!!!
  • Actual "Dressser for a TV" - Corrected = Solid oak entertainment center. (spellcheck)

RESEARCH THE PRODUCT, Google is your friend, use image search if needed. Keep your personal opinion out, just describe it. Remember BMDM = Brand-name, Model-number, Describe-it, Measurements. Keep it as short as possible, you have to buy the ink to print the invoices, AND ALWAYS USE SBELCHEKE!!

NOTE: Do not state “Tested and working”, “In working condition”, “Works” etc. This statement may be construed as a De-Facto warranty or guarantee. Remember “Caveat Emptor – All items sold as is”. Just honestly describe what it is.

Take Quality pics

Image/Presentation is Everything!!

Quality photos = quality bids = quality paycheck $

Many bidders will bid on the photo alone and not even read the description. Be sure to use the recommendations in the list below for best results.

  • Proper lighting
  • Light box for small items
  • Clean background
  • White & Black background
  • Stage items accordingly – boxes, picture holders etc.
  • Clean the product
  • Quality camera – Do not use a cell phone camera
  • Do not use stock photos from other companies on the internet, It is copyright infringement.

Writing a Quality Description

There are 2 groups to which you must advertise & market. Sellers & Bidders. The goal is to let sellers know you are the solution to their liquidation problem & bidders desire inventory. Bottom line – place your business info on quality advertising sites whenever possible.

Each Auction company should focus 75% advertising resources on securing new sellers/consignors and 25% on buyers. Remember Auction Spear has focused 75% so the auction companies can focus more on new sellers/consignors.

Advertising is not an option. It must be done if you want to grow your business! Do not expect someone else to do it for you!

  • Build social media business profiles Facebook, Twitter, Instagram etc
  • Car magnets – Low cost high impact
  • Business cards – Never pass up any opportunity to give cards
  • Logo T-shirts
  • Business marketing website to drive sellers to.
  • Profile websites, yelp, manta etc.
  • YouTube channel
  • Many of the websites in the tool box are free to establish a business account and post ads
  • Post auction ads on the recommended sites

Preview & Pick Up Days

Preview day is required per contract and allows customers to personally inspect the items they want to bid on. A good preview can help increase bids. Auction Spear requires a minimum 3 hours for preview. Pick up day is a chance to get to know your customers and build a relationship with them. Many buyers become sellers as well.
  • Arrive at least 2 hours prior to scheduled pick up time to set up.
  • Plan ahead & bring all necessary equipment
  • Hire extra labor if needed, especially at customer on-sites
  • Cash drawer with change (pickup day)
  • Be prepared for at least an 8 hour pick up day
  • Always keep cash drawer and invoices secure
  • Be polite, professional & friendly and greet your customers
  • This is your chance to shine with future consignors
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Auction Spear LLC is a family-owned and operated quality online auction system based in Arlington TX. 

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*Auction Spear LLC and AuctionSpear.com is an independent provider of online auction platforms only and does not manage or dictate the day-to-day operations of the independent business auction companies that lease space on the site. Each auction company is an independent business, and any questions, complaints or concerns must be resolved directly with the auction company in question.

*Auction Spear LLC is a provider of online auction platforms only. Requests for auction or related services may be referred to independent business auctioneers or liquidators under the Auction Spear LLC list of independent companies and may not be handled directly by Auction Spear LLC. There is no fee for this service and all auctioneers, auction companies and liquidators are independent companies leasing space and operating on the Auction Spear LLC platform.

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