Have you ever purchased an item at an auction? Or even sold one? The world of auctions can be scary, but they don’t have to be. We can help you navigate the auction world whether you’re looking to buy or sell items, or both. Here’s what you need to know about auctions.
An auction sells off items that current owners either don’t want, or perhaps were repossessed due to foreclosure. No matter the reason, it gives buyers a chance to purchase items they may have otherwise never found. At the auction, each item will come up on its own so buyers have a chance to bid on the item. This is where items sometimes sell for a lot of money since buyers are bidding against each other, and they may be willing to spend a lot if the item is rare.
Most of the time there will be auction fees the seller will need to pay in order to have your item, or items, sold at auction. They may be a fixed amount or it could be a percentage of what your item sells for.
Typically cars, trucks and industrial equipment will be sold at auction when owners are looking to upgrade or remove some of their inventory. Although really almost anything can be included in an auction. There are many times you will see estate sales and foreclosure auctions. If you are looking to sell of some of your assets, we can help find the best auction platform for you to do this.
Some wholesale buyers will offer their customers to sell on consignment, and sometimes the prices offered may even me a lot higher than expected. There is, of course, a catch to selling goods on consignment. When a surplus inventory buyer offers to sell your overstock on consignment it means that you don’t actually get paid unless your inventory or product is sold.
There can be advantages to selling like this. If, for example, you simply just need to make some space in your warehouse and aren’t concerned about how quickly the items sell then consignment might be the best option for you as you can hold out for the maximum amount of money if you want. The biggest downside to this model of selling is that if your product never sells then you will never make any money on it. Hinn Surplus does not offer a consignment based model – we will pay you for your product when you sign it over to us. We will offer your fair market value for the product you are selling, and you won’t ever have to worry about whether it’s going to sell. Get money for the inventory you aren’t selling, can’t sell or simply don’t want and we will help you move it! Contact us to find out more about what your overstock or unused inventory is worth.
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