RANDOM THOUGHTS, COMMENTS & LATE-BREAKING NEWS!!

Our first Internet-Only Real Estate Auction was a great success! 

Last fall, we purchased the software which enables Superior Auction to conduct online-only auctions through our website!  Our association with, and membership in, several professional auction groups were the impetus for our decision in our investment!  Keeping up with the technological changes in the world today is imperative in giving both our Buyers and Sellers what they expect…..

The 35 acres recently offered through an online real estate auction sold to a buyer who diligently inspected the property, and all related information, through the Internet only!  The non-refundable earnest money was delivered, the closing date is set, and the Buyer viewed the land physically today for the first time!  If you are a trustworthy auction company, and represent what you are selling honestly, Internet-only Auctions will work!

Superior Auction is very fortunate that our two main contract auctioneers are both professional IT (Information Technology) specialists!  Joe Cicero teaches at a Green Bay college and Larry Schultz (Bucky) is the IT person for a local municipality! 

My favorite advice for my friends and family is to “surround yourself with good people”!  Jerry Anderson, a favorite college instructor when I was earning my associate degree in business management, emphasized the importance of that!  One of the many “good people” that Superior Auction surrounds themselves with is John Helfert, our company coin expert…..

Recently we received some coins from a Wisconsin consignor that looked REALLY good but after John inspected the coins, he found THREE that were counterfeit!!  I am so appreciative of his expertise so that we were able to inform the seller….and NOT offer these ‘very good counterfeit’ coins to an unsuspecting buyer!  Coin auctions are HOT right now – be careful that you trust the auction company that you are buying from!

I am SO excited that Gene (AKA ArtJ) retired after 42 years at Enstrom Helicopter!!  I am SO PROUD OF HIM!!  He started his aviation career in the Army and continued with Enstrom Helicopter as a mechanic.  He was always very diligent about the fact that people’s lives depended on his ability to assemble tail rotor gearboxes, perform customer service repairs, etc. 

His attention to detail, and the fact that he is SO conscientious in everything he does, will be a great asset to our company.   I’ve encouraged him to ‘be a slug’ for a few months, but his first official day off was working the Waggoner Auction! 

We are so excited about Gene joining our company on an ‘as-needed’ basis! (which I think will really be ‘full-time’)… His areas of expertise are enormous!  His mechanical abilities…antique expertise…..research abilities….yeah!!  Gene has over 40 years in the antique arena – including personal collections of records, books, Arts & Crafts Era merchandise, and primitive tools! 

We have a little bit of travel in the future with a family wedding in the ‘Big Sky Country’ of Montana, and some accelerated education in the vintage jewelry field for Nellie, but have still managed to schedule some pretty great estate and antique auctions in July!

The next 15 years should be interesting!  While we certainly plan to keep pace with having more Internet-Only auctions, we will ALWAYS still conduct ‘LIVE’ auctions of commercial equipment, real estate, antiques, coins, vintage jewelry and estate merchandise!

“Bid & Glimmer” vintage jewelry auctions will be scheduled soon – both live and online! Keep an eye on our website as we have some pretty fantastic merchandise that will be on the market by fall, as well as several auctions in the works! 

Tricky Math

It was recently brought to my attention that a local auction company is using “tricky math” in slamming the ‘Buyer’s Fee.’  I am not ever going to get into ‘playing the game’ with this company and will continue to stand on our reputation and integrity.  There ARE a couple of points that should be made however….

Very succinctly, if Buyers are informed prior to bidding, MOST are intelligent enough to decide how much they want to bid.  Professional auction companies have been using this tool (to keep them in business AND able to pay things like liability insurance…workmen’s comp…, etc).  Recent statistics show that 80% of auctioneers nationwide use the Buyer’s Fee as an advantageous tool for securing good merchandise from sellers!

With no comment on the other “tricky math” that was used in that auction company’s post, let’s look at what would happen when he charges the 20% commission that he states on a $15,000 vehicle with no Buyer’s Fee…

STRAIGHT MATH:

The Other Auction Company - 

$15,000 Bid on vehicle less 20% commission = a Seller’s net of $12,000  

and a $3000 commission 

Seller puts only $12,000 in his pocket on a $15,000 vehicle

Superior Auction Company –$15,000 Bid on vehicle 

less 0% commission = a Seller’s net of $15,000  

and a $1,500 commission (Buyer’s Fee)

Seller puts $15,000 in his pocket on a $15,000 vehicle

Now let’s pretend that the Buyer bid less because he knew there was a Buyer’s Fee of 10% and he only wanted to pay $15,000 total:

$13,650 Bid on vehicle less 0% commission = a Seller’s net of $13,650 and a $1,365 commission (Buyer’s Fee) for a total purchase of $15,015

Seller puts $13,650 in his pocket on a $15,015 vehicle

 

Pretty easy math!  Now onward to serving our clients and customers!!

TIME FLIES WHEN YOU'RE IN THE AUCTION BUSINESS!

After my bookselling career with Barnes & Noble/B.Dalton, I would never have thought that I would be lucky enough to experience another profession that was so exciting and fast-paced!  I so appreciate everything that my B. Dalton experience gave me in terms of running a successful business...the exposure to the general public....the opportunity to travel.....the awesome educational venues.....

Owning Superior Auction & Appraisal for the last 18 plus years has proven to be just as much fun....just as much success....even more exposure to the general public.......a whole lot more travel.....and a whole lot more of educational opportunities!!  And talk about time flying!!  It's sometimes hard to believe that Gene & I have been enjoying our auction company for so many years!

My travel has been reduced substantially since I have completed my terms as director and officer positions with the Wisconsin Auctioneer's Association, but I still get to get away from the office regularly!  Last week I instructed a class on Ethics and Professional Conduct for the Wisconsin Auction Institute and later that week presented a mini "Antique Road Show & Auction" for a group of 4-H kids in Waupaca.  I believe strongly in 'giving back' and am always happy to help other people learn about how to conduct their business in an ethical manner....encourage the young generation to become interested in auctions....etc.  It just feels good!!

I'm very excited to learn more about selling jewelry in an upcoming specialty school that will require time away from my business, BUT education is what sets us in front of our competitors.  We learn how to protect our sellers, even AFTER the auction, how to honestly represent the merchandise that we’re selling, and so much more!

If you have never experienced the excitement of an auction, I strongly encourage you to attend one of our upcoming events!  The Loretta Price Estate Auction this Sunday, June 3rd, has many quality pieces of furniture including marble top Victorian pieces to modern very functional items...small kitchen appliances that cost a great deal more than you would expect to pay at auction.....a super gas-concious 1997 Buick Park Avenue.....and a whole lot of great home decor and antiques!!

Check out the other great estate auctions we have in June!  Sunday, June 10th is a great "all-around" auction but is heavily weighted in tools - many of them brand new!  Saturday, June 23rd has 200’ of waterfront real estate set on over two acres with a quality-construction  3 bedroom home in the Oconto area AND an entire household of top-end antiques and household items.....lots of Arts & Crafts Era items!  If you know of someone looking for some PRIME hunting acreage - 30 miles from Green Bay and only a couple of miles from Peshtigo - have them look at our online auction ending on June 19th.  There are three food plots, secluded areas that would be great for a country home or camp and an extensive ATV/walking trail system throughout!

We invested in our own company software last fall that enables us to do "Internet-Only" auctions where you do not have to pay a commission to a second party, AND where you can place starting bids.  It has been a HUGE success, especially in selling specialty items or complete collections!  Although we will always do "live" auctions, we recognized the need to give our sellers worldwide exposure for certain merchandise.....call us and we'll be happy to share our results and give references from very satisfied clients!  We currently have a "Bid & Glimmer" jewelry auction going on which is 'Internet-Only.'  Check it out - it's especially fun to watch the last couple of hours....

We truly do work for our sellers, and not for our own 'fame & glory.'  Past successful events for our sellers have included selling a Grueby Art Pottery vase in a 'David Rago' (Antique Road Show Appraiser) auction for over $10,000!  A painting found at an area estate sale for $250  brought over $9,000 at a recent Sotheby's auction and we encouraged the seller to use that venue!  The point is that even though we have the capability to do 'Internet-Only' auctions, there will sometimes be a situation where a buyer from' Australia' will bid substantially higher if buying from the '"world's expert on Grueby Art Pottery" like David Rago, than they will from any other auction company....we go the extra mile for our sellers!

Very soon you will be able to see on our website the properties that will be sold at the Public Land Auction for Menominee County Michigan in July.  What a lot of buyers do not realize is that there is NO redemption period for the owners so if you're the winning bidder on auction day, the property will transfer without a waiting period!

We have several upcoming auctions in the works, so check our website frequently, and if you are thinking about an auction this year, contact us for a preliminary no-obligation visit!  Our reputation is solid, and we appreciate the opportunity to tell you the difference between choosing us and in choosing other auction companies - get the facts first!  Our results, and our list of references from local banks, attorneys, government institutions and the general public will be influential in your decision.  Our goal is to have "happy campers" AFTER the auction is completed…….

Some OUTSTANDING merchandise has been commissioned to our company to sell before the year is done and we are currently researching.....the best I think is a carving by a 'Master Carver' who Sotheby's has expressed an interest in!  We also have five very unusual cameos including a male figure, a mourning cameo and some 'left-facing' shell carvings – watch for more information on this quality merchandise!