So a lot of “phone-bids” or “if-bids” are done at some auctions (including ours). Here’s why we do so many:
We are a Buyer-Driven Auction, using a Bottom up approach to the market. The buyers are considered the market drivers, they set the prices based on the conditions they see in the retail landscape. Auctioneers that have confidence that the buyers are providing a robust market tend to make lots of “phone bids”. This is done so the sellers know what the market is saying on consigned units.
The sellers, understanding this approach, can make quicker & more informed decisions the next time they see those pieces. Though it’s a more labour intensive way to run an auction, the long term results benefit both buyer and seller. Buyers know that their offers are always considered. Sellers know that though reserve may not be met, they’ll be, at minimum, better informed and there still may be a deal there.
Hoping all your units are “knee deep in rubber” – Cheers, Sean Liptay
Great Northernhttps://www.tgna.ca/wp-content/uploads/2018/02/TGNA-bLANK-300x87-1-300x87-300x87.pngGreat Northern2015-06-12 13:11:312015-06-12 13:11:31“Alright, we’ve got to make a phone-bid, what’s your #”?