Guideline To Selling At Auction
Auction Process Overview
- If you’re a seller interested in conducting a sale with us, the first step is to get in touch with one of our Auctioneers. We can be reached at (203) 996-9507.
- We work closely with the potential seller to learn more about their situation, needs and expectations.
- Our services and auction strategy are reviewed in detail.
- Any questions or further information required by the potential seller are addressed.
- With the potential seller’s approval, we will conduct an on-site inspection, inventory and analysis of the assets.
- A proposal and auction marketing agreement is drafted with the specific terms of the sale.
- Auction date, location, time, marketing details, expenses, commissions and other details are reviewed.
- When the terms of the proposal are agreed upon and signed, a contract is initiated.
- Preparations for sale begin.
- A multi-channel marketing strategy will be utilized to maximize exposure of your equipment to a targeted group of qualified buyers.
- We use some of the top digital marketing techniques in the industry.
- The following marketing strategies will be implemented: Internet Marketing, Social Media Marketing, Content Marketing, Paid Advertising, Collateral & Direct Mail Marketing, Email Marketing, Auction listing sites, Direct buyer contact, and exposure in local, regional, and national print and digital news outlets.
- Activation of our proprietary database of buyers and sellers who are active in the restaurant, food service and hospitality industry.
- Step-by-step marketing support throughout all phases of the sale.
Auction Site Preparation
- Metro Auctions will survey, inventory, and catalog auction site.
- Professional photography is utilized to catalog all merchandise.
- We provide an in-house staff to organize, lot, and tag the merchandise for auction.
- Arrangements are made to optimize crowd control, auction flow, checkout and merchandise removal.
- Metro Auctions provides a comprehensive staff on the day of auction. This includes: Licensed Auctioneer, Auction Operations Manager, Registration Personnel, Bookkeeper, Bid Spotters, Floor Attendants.
- We utilize a professional auction software which enables a faster, smoother and more efficient auction for our buyers and sellers.
- After sale completion, we provide expedited checkout, billing, and invoicing via our auction software.
- Our Auction Operations Manager will oversee the removal of all merchandise.
- You will receive a detailed Auction Summary Statement and Accounting report after the auction is completed.
- Final payment is submitted within 14 days after final collections.
- All payments are submitted in the form of an Escrow Account check.