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Goodbye to the Auction Cry

For those of us who have ever been to or seen a live auction, you will remember the way the auctioneer calls out the items up for bid. This method of repetition is known as the auction chant or the auction cry. When chanting, the auctioneer will call out the current bid price and the price that will outbid. In between the numbers, the bidder might use filler words such as "can I get a" or "how about", so the bidders and the auctioneer himself have time to think about what will come next. Each auctioneer has their own style, but the common goal is the same: Let the bidders know the price of the item and how they can beat it. The auction chant will continue until bidders are no longer making offers. Typically before closing, you will hear the auctioneer chant "Going once, going twice, sold!".

This auction cry is now disappearing due to online opportunities. Sellers of everything from restaurant equipment to construction equipment and beyond realize they can get their material in front of more people with a two-week online auction than they can with a 2 or 3-hour live sale. As online auctions provide visibility to a larger crowd, they also increase the amount of capital that a seller can receive for the items they are selling. Regardless if you are auctioning estate items that you inherited or equipment from a business venture that you are no longer pursuing, people are more likely to get higher prices for their items when they can get the material in front of more interested buyers.

While BCL Auction is happy to help clients increase their profits, we are sure sad to see the auction chant slowly disappear. What are your thoughts? Will you miss the auction cry or are you happy to see it go?

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Best Bidding Strategy for Online Auctions

Best Bidding Strategy for Online Auctions

What is the point of wasting half your day bidding in an online auction if you don't win the item, right? Many people compete in these auctions every day with hopes of winning everything from government used property to estate sale items to restaurant equipment. Whether BCL Auction, e-Bay, or another online platform, we have compiled the best strategies for actually bidding to win.

1. Begin with a higher bid. Typically, people place their first bid as low as they can with hopes of getting the item at a much lower rate. This plan backfires on many occassions, as keeping the bid price low only invites more potential buyers. If you offer a larger chunk at the beginning, you will cut some of your competition.

2. Immediately match bids. When you're fast to provide a higher offer, you essentially intimidate other bidders into thinking you won't quit. This is a psychological tactic that frightens off other bidders.

3. Study your opponent's pattern. Once you know how your competitor's play, you can out maneuver their next move. Do they always bid in round numbers? Do they start small and end big? Vice versa? If you can predict their behavior, your chances of winning increase.

4. Understand when it's over. Overpaying for an item is not in your best interest. If you mark your bottom line and stick to it, you won't end up regretting the process. One foul auction win can be devastating for your funds. It's important to know when enough is enough.

Online bidding is a great way to get items you need at a lower rate that market value. However, don't let the fight to win cloud your judgement. Play to win, but know when it's time to go home. What other strategies do you use when bidding online?

This article was inspired by reverseauctionguide.com (http://www.reverseauctionguide.com/best-bidding-strategies/).

5 Items That Don’t Auction as Well as People Hope

Five Items That Don't Auction Well

Items That Don't Auction Well

BCL Auction has been in the industry for over forty years. We have auctioned items from estates and businesses alike, and there are always things that people believe to be big ticket items but are not worth as much as they would hope. Below are the five most common things that don't hold the value we would expect.

  1. While property prices continue to elevate, homes are the most commonly over-estimated asset a person owns. While you may have just completed a ton of renovations, it is seldom that homeowners get back all of the capital they put into rehabilitating and upgrading their homes.
  2. Children across the United States have been collecting sports cards for decades. Rare cards can be worth unsettling amounts of money. However, people forget these sports cards are only worth what someone else is willing to pay. We don't suggest banking on retiring this way.
  3. Jewelry typically has significant meaning to the individual who owns it, but it is not wise to expect to see the same return on your used or inherited jewelry. Much like cars, jewelry depreciates nearly as soon as you walk out of the jewelry store. Most people end up selling family jewelry at a substantial loss.
  4. After a death, many believe they can sell their family's antique furniture for a killing. Antiques are just not in demand as they have been in the past. More and more households prefer a modern style, and spending an arm and a leg for out-dated fashion just doesn't fit their budgets.
  5. You may have inherited fine china from an aunt or grandmother with the hopes of selling it for a large profit. Much like antique furniture, this vintage china only holds sentimental value. Daily routines have changed and maintaining an extra set of dishes is not something modern families do.

Can you think of other items that don't hold their value like they used to? What about an item that is increasing in value? Let us know what you think!

This article was inspired by cheatsheet.com. See their site for other tips!

Are you looking for Auction Services?

You don't need to look any further!  BCL Auction Services offers business owners, lenders and individuals simple and successful solutions when it's time to sell any type of asset.
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Whether you or a client are closing a business, selling an estate, or simply have excess inventory that you'd like to move, BCL Auction Services can get the job done.  We have more than 4 decades of experience, over 20,000 active buyers and state of the art technology to guarantee you'll receive top dollar for your assets.
Contact us today for a free and confidential consultation at 636.778.4300 or bill@bclauction.com.

 

Need a Double Stack Pizza Oven or a Hobart Mixer?

Then don't miss the Pizzaria & Italian Restaurant Online Auction on February 24th at 8 PM CST!
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There are more than 300 items featuring a Blodgett Double Stack Pizza Oven, a Hobart 30 QT Mixer, Cook Line Equipment, Ice Machines, Refrigeration, Walk-In Cooler, Wine Chiller, Warmers, Dining Room Bench Seating, Patio Seating, Shelving, Brewers, S/S Prep Tables, Decor, Neon Signs, Small Wares & much more!
View the Auction Here!

Harry’s Restaurant is Closed and Going to Auction!

We're so sad to see our good friend Harry close his restaurant and bar that has been a prime spot for so many of us in St. Louis, MO for the past 20 years!

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This online auction hosted by BCLAuction.com ending on February 18, 2016 is your opportunity to furnish your kitchen, bar, patio or own a piece of Harry's history. The Restaurant Equipment being auctioned includes Chef's Line, Cook Line Equipment, Grills, Fryers, Ice Machine, Hood Systems, Walk-In Coolers, Wine Coolers, Ovens, Stainless Steel Prep Tables, Refrigeration, Bar Equipment and Supplies, Seating, Patio Furniture & Heaters, Metal Canopy for a Patio, Large Event Tent Canopy, Water Softener, Wine Cooler, Signs, Paneling, Lots of DJ Equipment & Lighting, hundreds of Small Wares, Decor & Much More!
Click Here to View the Harry's Restaurant Auction Catalog!

4 Year Old Office, Medical, Dental & A/V Equipment & Furnishings Auction


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Bid now on 1,000's of Like New items from Everest College in this online auction by BCLAuction.com!
Everything was used less than 4 years and features: Hydraulic Dental Chairs, X-Ray Units, Office Desks, Office Chairs, Hon File Cabinets, Fireproof File Cabinets, HD Ready SmartBoards, Digital Projectors, Cubicle Work Stations, Printers, Copiers, Network Cable Management Racks, Server Equipment, Cisco IP Phone System Model 7962 with 85 handsets, shelving, lab and medical supplies, Unico G380 microscopes, centrifuges, mechanical scales, amalgamators, dental x-ray radiopgraphy film processors, denture making equipment and supplies, digital blood pressure monitors with cuffs, IV stands, massage tables, exam tables, medical cabinetry, EKG machines, shelving, bookshelves & so much more! This is a 2 Day Auction Event in St. Louis, MO.  Bidding begins closing on February 16, 2016 at 8PM. Click Here to See the 1st Auction!

 

Would you like to Sell your Restaurant Equipment? Call BCL!

BCL Auction and BCL Restaurant Supply is your answer when you need to Sell your Restaurant Equipment!  One piece or an entire restaurant, we'll get it Sold for you simply and successfully!
Sell Restaurant Equipment
We are currently accepting Consignment Items that are clean and in good working condition for our upcoming Consignment Restaurant Equipment Auction at BCLAuction.com.  Just contact ruthie@bclauction.com for details on our easy Consignment Program.
If you have other equipment that you need to buy immediately, we'll let you TRADE IN your equipment towards your purchase at our Restaurant Equipment Supply Company, BCL Restaurant Supply located just 5 minutes of Downtown St. Louis. Click here for a Virtual Tour of our 60,000 SF Showroom!
Give us a call at 618.274.4112, 636.778.4300 or email bill@bclauction.com and we'll get it SOLD!