Pub. 10 2021 Issue 3

Pub. 10 2021 Issue 3 35 They should know that not all auction companies are created equal. Many traditional auction companies have shifted to online auctions because of the pandemic, but they may not have the experience, online presence, or auction platform to do the best job, especially for larger auctions. Your clients could end up waiting a much longer period of time for auction proceeds, and they may not have as many buyers bidding or the ability to obtain the best price possible for their assets. The best online auction companies will help your clients develop a strategy for liquidating their assets to help them reach their retirement goals. This means developing an entire marketing campaign around their auction. Because every retirement auction is different or has its own unique set of challenges to overcome, sometimes that means a marketing campaign needs to be designed with those specific hurdles in mind. Typical marketing includes a presence on digital channels, print and radio. For larger items, it’s typical to have outdoor signage. While seemingly obvious, it is also paramount to the auction’s success that people know there is an event happening. Our experience has proven that most people are typically willing to travel about 250 miles to pick up purchased equipment. This means that the local community needs to know it’s happening. Full-service online auction firms specialize in getting the word out and making the auction both an online and local event, with social distancing and COVID precautions in place. Your clients should also work with experienced online auction companies that conduct UCC checks and, if a lien is found during the check, the auction company should communicate with the seller to find a solution. Also, auction houses that make it a priority to allow buyers to contact the sellers with questions or to test the equipment are vital. Building an environment of trust and transparency will Auctions prices on used equipment is strong right now, fueled by an increase in demand. To get top-dollar for your unused machinery, sell it on BigIron Auctions. Our weekly online auctions are always unreserved, all equipment is lien-free, plus we never charge a buyer’s fee. Sellers enjoy our full-service approach, from our local team coming to your location to list the equipment, plus we market your items and collect buyer payments. www.bigiron.com (800) 937-3588 STRIKE WHILE THE IR N IS H T almost always yield higher returns for your clients. Sellers accessible to buyers will have a more confident buyer base willing to bid higher. Lastly, your clients should ask the auction company to provide them with the bidding history on their items post-auction so that they can have full confidence in the proceedings. The online retirement auction process can be complicated during an already emotional time, but an honest and reputable company can help farmers through the process. Taking advantage of the current selling market and high buyer demand can help farmers boost their personal finances and make the start of retirement a smooth and exciting process. The best online auction companies wi l l help your cl ients develop a st rategy for l iquidat ing thei r assets to help them reach thei r ret i rement goals. This means developing an ent i re market ing campaign around thei r auct ion.