Auction sales can cover all kinds of products that you wish to sell. When you think of auctions we often think about eBay. eBay is a great way of searching for products that you want and then having the ability to be able to put in a bid for a particular item. If you are the highest bidder then you will win the item that you have bidded for.
Below we will discuss some of the different types of auctions that are available and how they have changed over the years.
When you have decided to move house or buy a property, the majority of us start to search for property for sale. However, your mind quickly moves to the legal side of things and you soon start to look for a suitable property lawyer or a realtor lawyer and then you will finally turn your thoughts to property inspections. Once all of this boring stuff has been thought about, your attention then turns back to your dream home. You will probably ask yourself the following questions:
- What type of house do I want?
- How many bedrooms do I need?
- How many bathrooms do I need?
- Does the property have a front and back garden?
- Does the property have off road parking?
- Should I buy an auction property?
As you can see from the questions above, they seem fairly straightforward. That is apart from the last one. When buying a property, the standard way you will put in an offer, do all of the appropriate searches, search for drug and meth testing companies to perform a search on the property that you are interested in, put in an offer and then wait to see if it gets accepted. Alternatively, you could opt for the auction route. The advantage to the auction route is that you could save money on your dream property. In many cases you buy the property as seen so you could be buying a relative unknown. This type of sale is fantastic if it goes the right way for you but it can be troublesome if it does not. Property bought at auction can be very stressful for those who are putting in the bid. The number of properties on the market for auction is slowly decreasing and therefore people are opting for the standard way of purchasing a property. Consequently, auction houses are slowly on the decline.
If you do decide to purchase a property using the auction system there are other pros and cons to be mindful of:
- You may pay less than if you would have bought the property the standard way.
- You will get the property much quicker as auctions offer a speedy turnaround
- You can end up going over budget as your heart ay rule your head.
- You have less time to arrange a survey and your solicitor has less time to look over the legal pack.
Another huge area for auctions is the car industry. There are many places that now offer car auctions. Vehicles bought this way tend to be cheaper and more readily available. The reason for this is that many companies that buy and sell cars are selling them via the auction route. This means the quality of the car has increased and there are varying makes and models available. Car auctions have seen an increase due to these reasons and there is a need, across the world, for cheap motoring. This is one type of auction that is seeing an increase as opposed to being a thing of the past.
Small Item Auctions
Small item auctions are auctions that we all recognise. Whether it is an expensive piece of artwork, memorabilia from somebody famous or just sales of general household items, these types of auctions are very popular. The attraction to these types of auctions is very simple. The general public visit these auction houses in the quest for a bargain. Additionally, there are many collectors and experts that travel around to different auctions houses to find specific items. These auction houses have varying lots that are placed in front of the potential buyers. Buyers are then able to view the items before the auction takes place. This allows them the opportunity to make a note of the lot number. The lot is then called and offered for sale and at this point potential buyers can place their bids. This type of auction is bucking the trend due to its popularity and therefore demand for small item auction is high.
This now leads us nicely back to the giant that is eBay. As we all know eBay is a huge auction site and has enjoyed its dominance in auction sales for many years. However, it appears that there is now a decline in its popularity. The decline could be due to many different factors. One of the main factors could be that many sellers are now opting for the fixed price option as opposed to the auction option. Also, with stiff completion form sites such as Amazon and other retail companies, it has become more difficult for eBay to continue to have the precious success that it had.
All in all, it appears that the type of auction in question plays a part in whether or not auctions sales are a thing of the past. If you are referring to eBay then there has been a decline. Alternatively, car auctions and small item auctions seem to be booming and coping pretty well within the economic climate that we are living in today.