"While some auction companies see online auctions as an opportunity to decrease services, we take the opposite approach," says Ron Sock, co-founder and CEO of Big Iron Auction Service. "We actually capitalize on the opportunity of increasing services by facilitating the direct communication between buyers and sellers."
Such platforms encourage communication between the buyers and the sellers and are particularly successful because of the open lines of communication. In some cases, if the seller is close enough, potential buyers should be encouraged to come out and see the equipment. Whether by phone or in person, meeting the seller often establishes a level of comfort. People will always feel more comfortable buying a real piece of equipment from a real person.
6. Partners Speak Volumes
The final critical element to a successful online sale is find the right listing company with which to partner. Just as it's important for sellers to establish credibility with open, honest and upfront communication, it's important to work with an auction company known for those same ideals.
Every seller should first find a company offering a platform that suits his or her comfort level, then make sure the company understands the equipment and the auction business. Check its record and examine its growth pattern, reputation and experience in the auction arena. Many online auction companies started in the live auction venue and have many years of auction experience. That experience can prove very useful to both buyers and sellers.
Online auction opportunities have opened up new markets and possibilities for both buyers and sellers. Remembering a few simple tips can make the selling process easy, enjoyable and profitable.