Why do I need an auction?
If you have a relative’s estate, a business that is closing or downsizing, or if you have a collection or any assets that you need to liquidate, you need an auction. At Suction Solutions, we turn your assets into cash the fast and easy way.
What can be sold at auction?
Virtually anything that has a value can be sold. We have the ability to sell real estate, as well as personal property. The real estate market is a rapidly expanding part of the market, but these are not the only items that can sold at auction. Intellectual property and mineral rights can also be sold at auction. In fact, a U.S. based auction company has sold dog cloning services for several hundred thousand dollars.
Is it true that estate sales are a better option than auctions?
Auctions have many advantages over state sales. First and foremost, an auction can be a complete solution. At auction, we can liquidate anything from real estate to personal property and commercial and farm equipment. Estate sale companies are typically not equipped to provide this type of service.
Auctions generate competitive bidding and excitement. That means more money for your items.
Auction Solutions can provide a complete turnkey solution.
What is the difference between a starting bid and a reserve bid?
A starting bid is the amount that you would like a specific item’s bid to start at. This is mainly used for more expensive items like heavy machinery or expensive jewelry to ensure that you get the best price for your items possible. Different items can start at different prices, just let us know before the auction is live and we can input starting bids.
A reserve bid is a price only known to you, the consigner, and Auction Solutions Inc. It is the lowest bid that you would find acceptable for a specific item, or you can give us one for each item. Let it be known, that if the item does not sell for that price or higher, you still must pay us the commission for the set reserve price.
How will I know what items are sold at my auction and what people paid for them?
At Auction Solutions, we are fully computerized. We have the latest and most advanced software and computer technology to capture your sales as it happens. We can pre-catalog your sale or enter each item as we go. In either case, you receive a line item by line-item report of your sale, and your total sale dollars.
If I consign, when do I receive my funds from the auction?
If you are a consigner, you will receive your initial statement from us with all necessary deductions added within 3 days of the closing of your auction. You will receive notice from us that the winnings from your auction are available and be able to receive them within 14-21 days of the closing of your auction.