“Auction” Is Not a Dirty Word

Photo of affiliate member Pat Mitchell.

Affiliate Council Spotlight
“‘Auction’ Is Not a Dirty Word” by Pat Mitchell

Have you ever wondered what draws someone to an auction? Is it the “lure of a bargain”? Is it the desire to “win”? Could it be simple curiosity? Whatever the reason, auctions have been a popular means of selling valuables for over 2500 years. I guess that is why people send fine art & jewelry to auction houses like Sotheby’s or Christy’s, and exceptional automobiles to Barrett Jackson. One thing is for sure; the word “auction” draws interest from people who may not have even been considering buying anything. It is a strange phenomenon that can work to the advantage of any savvy seller. As a licensee with a local auction company specializing in real estate with a 30 year track record, I see the same behavior exhibited by bidders for real estate as occurs at fine art auctions. The bidder comes in looking for a bargain, having a number in mind as their top bid, but move well beyond that when someone else is in the picture bidding against them. The scenario is the same whether the property offered is a unique residential home, a commercial building, a farm, a tract of raw land or a combination of those offerings. The competition between the bidders combined with the excitement of the bidding creates a “feeding frenzy  that is hard to explain. All I know is that auction works for the seller of fine art, luxurious jewelry, exceptional autos, unique homes, commercial property, farms and other land. So when you have something to sell and want to maximize your potential to gain true market value, look at auction as the “Alternative that Gets It SOLD!”

Pat Mitchell is Regional Sales Manager at Granger, Thagard & Associates and can be reached at 205 229-0884 or pat@gtauctions.com.