Auction Misconceptions
Thoughts by Clark Sather
After 30 years in the auction business selling equipment and real estate I still occasionally encounter people that have the misconception that auctions are somehow made up of only distressed property. Distressed property meaning different things to different people. Different ideas such as due to non-payment to lender, neglected property, damaged property and the list goes on. When in fact modern day auctions are very much the opposite and are a primary sales method to sell high value assets in the hundreds of thousands or even millions of dollars.
In the 30 years I have been in the auction business I have seen a transformation of this business from local marketing to the extensive world wide marketing we do now. When I started in the auction business I never dreamed our company would be doing global marketing, sales and exports in the millions of dollars a year to customers we've never met. I never envisioned buyers placing those high dollar bids on a computer or cell phone from the other side of the world either but that's another story in and of itself for another time.