How to Run an Auction with Excellent ROI

When business assets need to be sold, finding the right auction company can make or break your return on investment. We at Mid-America Store Fixtures want to streamline your search and give you insights into what makes an auction company stand out.

Choosing the Right Auction Company

The best auction companies will help you sell your business assets in a professional, organized, and (most importantly) profitable way. They will bring years of experience and excellent reviews.

These companies are responsive, detail-oriented, and respectful of your timeline. From the moment conversations begin, pricing should be transparent and honest. You will also want to be on the lookout for excessive Buyer’s Premium fees, which could cut into your profit margins.

When you're searching for an auction company, look for one that has a team of specialized experts who will help your buyers pack up their purchases. Additionally, look for a company that will prioritize flexibility for your buyers, allowing them to send their own crews to pack and ship if they prefer.

Be sure that the auction company you choose emphasizes marketing. An ideal auction company will be able to connect you to motivated buyers. You don't want a company that fails to support your auction marketing, or that sends your valuable marketing emails to a stale email list. The right team will ensure every item is listed with clear photos, showcasing each item's value.

Online or In-Person? Both?

The format of the auction can impact your return on investment if chosen poorly.

An in-person auction takes advantage of the highest level of adrenaline, and leverages local traffic–but requires local, in-person buyers. This would be a good fit for an auction that is offering more standard fixtures and equipment.

Online auctions are not bound by the same time limits as in-person auctions, and so may take place over the course of multiple days. While lacking an in-person element, online auctions still take advantage of the adrenaline of bidding, ultimately providing better prices on each item than a liquidation. With an online auction, particularly one that features unique or specialized fixtures, the adrenaline of bidding can move your equipment at even higher rates than expected. We recommend online auctions for companies with specialized fixtures and equipment to sell.

A hybrid option can be a good fit for the right set of fixtures, and an excellent auction company will be able to advise on this issue. At Mid-America, we pride ourselves on being able to choose the correct format for our clients. We encourage you to give us a call today to discuss your auction and discover which auction format might be the right fit for you.

Excellent Event Marketing

The most critical component that makes or breaks an auction is MARKETING. If buyers aren’t aware your event is happening, you’ve only got a day or two to make the sale! You don’t want to leave any buyers thinking “I wish I’d known about it.” Choose your auctioneer carefully, ensuring that their marketing work is excellent, as confirmed by their reviews.

Accessing High-Intent Buyers: The Mid-America Difference

When you run your auction with Mid-America, you gain access to our marketing team, including our continually updated database of high-intent equipment buyers. This database is meticulously maintained to ensure emails are sent to buyers across multiple industries who are ready to buy, not just looking, and not "were ready to buy—last year..." Don't just wait for buyers to come to you; let us bring them directly to you.

You don't want to leave any buyers thinking "I wish I'd known about it."

Excellent Day-Of Auctioneering

Whether in person or online, our expert auctioneers will create a well-organized and stress-free day. The process should be smooth and easy for buyers and sellers alike.

In-person auctioneers will make the day-of process seamless. At Mid-America, we do this by sending responsive, experienced on-site crews and sufficient staff to prevent any long delays. This approach ensures your buyers won't be turned away due to wait times, and the adrenaline won't have time to fizzle out. That's not just good administration; that's good sales. In fact, our clients consistently praise us for our professional, punctual, and courteous crews. 

Online auctions should be just as smooth. Again, to use MASF as an example, your buyers will enjoy up-to-date bids, well-written descriptions, clear and engaging photos, with a smooth checkout process to prevent abandoned carts. The right online auctioneer will take all of these factors into account.

What Happens After the Auction

When interviewing potential auction companies, be sure to ask what happens after the auction. When the excitement has ended, will you be left with excess items, unmovable scrap metal, or a post-auction mess to clean?

At Mid-America, our teams go the extra mile. They will help you dispose of or recycle your excess fixtures, equipment, and scrap metal. Not simply sending excess scrap to the landfill, our auctioneers will honor your investment by selling or recycling it in the most sustainable way possible.

Our auction teams won’t strip your building of any scrap metal that needed to stay, and won’t damage the building during pack-out. They have direct experience (not just general knowledge), to ensure they don’t add any damage to the building that may cost you on the way out. When all is said and done, your store will be left in broom-swept condition, so you’re ready to hand over the keys to your landlord with confidence. This is the level of excellence you'll want to see in your auction partner.

In Summary:

An Excellent Auctioneer Will:

• Have years of experience and shining reviews
• Have specialized on-site teams to help with loading, AND will be flexible, allowing your buyers to send their own teams
• Run an excellent online, in-person, or hybrid auction, and will be able to advise you on which is right for your event
• Support your marketing efforts by connecting you with motivated buyers
• Go the extra mile when it comes to post-auction cleanup, leaving your building in a broom-swept condition

There are countless tasks that need to be taken into consideration when you want to auction off assets in order to reinvest in your next project. With Mid-America, our expert knowledge and experience help you maximize your return on investment and allow you to stress less knowing that you are in capable hands. Call us today to learn more about how we can help with your next project.