Benefits of Auctions for Buyers and Sellers

Jun
28
in , Tags ,

benefits-of-auctions-buyers-sellers-bannerIn a world where items are continually being exchanged from one person or organization to another, there are many ways to buy and sell products. Especially now, thanks to the rise of the Internet, there are a variety of options for buyers and sellers to connect. But as we like to say at PCI Auction Group, there is one way that is just plain better for everyone involved, and that way is the online auction.

Rising above all other online selling options, quality-oriented auctions, especially the way we do it here at PCI, offer unique benefits to all parties that other means of buying and selling simply can't provide. Buyers and sellers alike can enjoy the following perks of doing an auction the right way.

Benefits of Online Auctions for the Buyer

When you shop online, you have the advantage of getting your hands on products you want from the comfort of your own home. Auctions on the Internet offer a few extra unique benefits that many people may not recognize right off the bat but which can make your experience more enjoyable and, ultimately, profitable.

  • Full seller commitment. Occasionally when sellers post an item online, they hesitate to commit to a sale promptly. Perhaps they are stalling in hopes of a better offer or are merely wavering in their desire to sell. Whatever the reason for their delay, it can be frustrating for anyone interested in purchasing the item. With auctions, as a buyer, you will never run into this issue. Auction sellers have committed to the specific time of sale beforehand, regardless of the highest bid amount at that time.
  • Buyer-determined prices. Stay well within your budget when you purchase through online auctions. Since you only bid what you want to spend, you won't have to worry about being charged more than you bargained for. You can start your bids at as low as a penny on some sites and work your way up if another buyer outbids you. Regardless of how much you spend, there is a good chance you'll end up with a good deal.
  • Quality equipment at competitive prices. Auction sales for closing businesses, for example, often involve the reselling of goods that are still in pristine and perfectly functional condition. That means you can rest assured that almost anything you purchase will be a quality item, especially if product information is reliably listed. Since your buys will be at auction prices set by buyers like you, you know that you'll be getting your hands on some top-notch savings as well.

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  • Quick and efficient sales process. Once the auction goes live and you start your bids, it is only a matter of days or hours before the auction will close and your goods will be on their way to your doorstep. Sites that facilitate online sales also confirm payment information in advance through the account that you as the buyer set up ahead of time, streamlining the processing of your transaction and the delivery of your purchases.
  • Level playing field for purchasers. One of the perks of the competitive bidding process of online auctions is that all interested buyers are bidding on equal terms with one another. Budget and availability to monitor bids around the clock might be the only factors that set buyers apart, but otherwise, all parties in the bidding wars are treated equally by the seller and the auction site with the same kinds of expectations and liabilities.
  • Provided assurance and certainty. With items that are posted for auction, you'll be able to view all kinds of related information regarding the product so that you can determine if it's the item that will meet your needs. Info on the seller, PCI Auction Group, will also be available, so you can have all of your questions answered with zero problems.

As you can see, participating as a buyer in online auctions offers you a tremendous amount of freedom and flexibility while also guaranteeing specific qualifications on the parts of the goods, the sellers and the auction site. At PCI, we take things a step further to offer extra online auction benefits to our buying members.

Additional Benefits for Buyers When Using PCI Auction Group

At PCI, we have unique benefits we can offer in addition to the regular benefits for online auction buyers. Here are three ways PCI's buyers reap the best advantages:

  1. Perks of the Max Bid feature. When you submit a bid for an item on a PCI auction, you can also enter a maximum bidding amount that will ensure that you won't accidentally miss the item if you are outbid last-minute. The system will monitor the items you are interested in for you, giving you the freedom to relax. As long as your hidden maximum bid outranks the final bid submitted and the max bids of other bidders, the item will be yours. Our bidding FAQ can help clarify other bidding-related questions you may have.
  2. Reliable listing information. At PCI, we take exceptional and precise care of the inventory and become as familiar with the goods as we can before posting them. We aim to disclose as much information about the products as possible within the listing so that there will be no surprises when you pick up or receive your purchase. The amount of detail helps make the sales process much smoother since buyers like you will be much more informed and excited about the items you place your bids on.
  3. Preview days for local buyers. If certain merchandise at PCI has piqued your interest in your area, we happily offer preview days for you to browse the goods in person before placing a bid. It's rare to be able to get a feel for an item you purchase online before you buy, and we pride ourselves on being able to offer such a unique experience to our buyers.

Interested in checking out some of the items up for grabs today? Complete our registration form to get started sifting through the some of the best deals in the industry. We're excited to have you join the tens of thousands of others who engage in our thrilling auction experience.

Benefits of Online Auctions for the Seller

whats-unique-about-online-auctions-bannerWhat's unique about online auctions is that it's a sales method where buyers aren't the only ones who receive perks. Sellers have sizeable advantages, too, from the ease of sale management to unlimited earning potential. Not only does it look highly professional to interested buyers that you are selling your wares through a reputable site, but you'll also be able to eliminate some unnecessary stress while the auction company does its job.

  • An easy way to clean house. As far as methods for getting rid of unwanted or unnecessary items go, online auctioning is likely one of the simplest. Typically, after you complete those initial conversations, the auction company will arrive and haul away any items you can sell, meaning that the majority of the work is out of your hands at that point.
  • Far-stretching customer reach. By listing your items online, you already are putting the word out there to thousands of viewers and potential buyers. Additionally, auctions tend to attract a highly-interested, active crowd who will engage with your listing and clamor to submit their bids. Hosting an auction in-person can be a rewarding experience as well, but the scale of the reach you will have with online auctions is so much larger that there ultimately is no comparison between the two.
  • Unlimited profit potential. With bidding wars underway, there is no ceiling on sales prices, meaning that you might end up making much more on your merchandise than you initially expected. In this sense, auctioning can be enormously profitable. You might discover that you underestimated the demand for a particular item or that you have a higher number of bids than you anticipated, which helps drive up the amounts of those final offers. An auction is the only way to recoup profit above retail.
  • Quick and efficient return. Once the final bids are gathered and the buyers' payments processed, you'll receive your money promptly. Other means of selling your goods might not permit you to receive your compensation right away, but auctioning offers a quick sales process that translates into an efficient distribution of assets and payments to all parties involved.
  • Limited liability on the seller. After the auction company picks up your wares, your responsibility for handling the items terminates, meaning that the obligation falls on the auction company and later the buyer. You also won't have to handle buyer info, shipments and other administrative tasks involved in selling the merchandise. Instead, those burdens will fall on the auction company.
  • Auction company handles the rest. Going along with the release of your liability, it will no longer be you who has to arrange for item pickups and manage merchandise listings once the auction company receives your goods. Instead, you can sit back and wait for the money from your sales to start rolling in. Relieving sellers of these kinds of duties is often worth the cost of the auction itself because of the time and energy it saves you overall.
  • Stress-free selling process. For sellers, auctioning surplus equipment online is a great way to hand over the responsibilities to a team of professionals so that the auction process is as stress-free as possible.

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  • Near-guarantee of sale. While there is no absolute guarantee that every item will find a buyer, usually all items will draw the attention of at least one interested person at a low initial bidding price. You won't have to worry about inventory being left over once the auction finalizes, and you won't need to get creative with ways to get rid of straggling pieces. Instead, you can rest assured that once every item has been sold, you will receive the payment for your items in full and won't have to make a final run to the dump with your unsold items.
  • Zero room for negotiations. By auctioning online, there is no pathway for buyers to try to bother you to cut down the price once the auction is finalized. Whatever bid they make will be the amount they are responsible for, and you as the seller would never be held liable if the buyer can't afford their bid. Along the lines of negotiating, you as the seller will have minimal interactions with buyers anyway, as they will primarily operate through the auction company website. This way, you can expect a final payment that reflects what the bids guarantee.
  • Assurance of market value sales. Since auction companies draw serious buyers who engage in the open competitive bidding process, they can guarantee that your goods will sell at fair market prices. A higher number of bids on quality items further ensures that you will receive what your wares are worth.

As a seller, whether you are liquidating your business, remodeling your store or upgrading your restaurant kitchen, auctioning your unneeded equipment online is a highly efficient way to receive the best service and price for your items. In addition to these general benefits of auctions for sellers, PCI has a few of our own to offer.

Additional Benefits for Sellers When Using PCI Auction Group

Online auctions grant considerable advantages to sellers of quality merchandise, but PCI has other benefits to offer that can help the process of your sale go even more smoothly.

  1. The presentation is on us. So that you don't have to worry about a thing, PCI will come and pack up all of your equipment and any other items that will make you money. Not only that, but we will take care of 100 percent of the cleaning, lotting, staging and photographing of your merchandise to provide optimal visual appeal and increase sales.
  2. Marketing is done for you. With our nationwide reach, you can rest assured that our droves of eager members will receive notice of your inventory, especially if there are items we know they will love. Engagingly interacting with our buyers is one of our specialties. We even offer our members a preview of your items in person to help boost the excitement for when your auction goes live.
  3. Speedy compensation. We guarantee that you will know in advance exactly when you will receive your overnight check once your auction is listed. We make sure everything processes correctly for optimum customer and buyer satisfaction.
  4. Listings without reserves. Having everything sell successfully is an aspect of our auctions that we take immense pride in. We expect our buyers and sellers alike to receive the best service and the best care.

broad-audience-for-wholesalers-individuals-and-institutions-to-sell-equipmentWith our nationwide warehouses and buyers, we at PCI Auction Group provide a broad audience for small business owners, wholesalers, individuals and institutions of all kinds to sell their surplus items quickly and safely. We proudly do the grunt work so that you don't have to.

Bidders in the tens of thousands are ready and waiting to buy from you through PCI Auction Group. Learn more about what it means to partner with the best resource for business surplus auctions in the nation. Contact us today to get your free appraisal and learn just how much better auctions can be with PCI.

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