How Auction Masters Makes It Easy To Serve Multiple Industries

A Brief History of Auctions

Did you know? The first recorded “auction activity” dates back to Greece around 500 BC. The Romans also enjoyed auctions, buying and selling their treasures from war and debtors’ assets.

Later in history, “candle auctions” became popular, beginning with a candle being lit and ending when the candle burned out. No one knew when the last bid would actually be placed, adding an extra level of drama and excitement to the final moments of a sale.

As time passed, auction houses gained traction and notoriety. The first establishment appeared in 1674, known as the Stockholm Auction House in Sweden. Sotheby’s was founded in 1744 and has recently gained rank as the largest auction house in the world, relinquishing this title from the long-standing auction giant Christie’s which was founded in 1766. 

The Present and Future of Auctions

The auction world has seen significant changes over the ages. Once phone bidding was introduced, which allowed people to place bids on a telephone through a liaison, the game changed drastically. 

Now, we live in the time of the internet, and online has arguably become the most popular form of bidding to ever exist. That iconic slam of the gavel to finalize a sale doesn’t have the presence it used to. 

Online auctions allow for more people to participate in both the selling and buying process than ever before. Auctions had seen large waves of change through the years, but the internet came through like a tsunami.

Seeing this new and important way for sellers and buyers to connect, the team at Auction Masters adjusted their model to accommodate online sellers and shoppers. Greg Christian, our founder at Auction Masters, started his internet auction journey with a simulcast of a live and online auction. He discovered that the dollar was stronger for everyone when an auction happened online. Instead of turning away from technology, Greg, an auctioneer with 40 years in the business, embraced it. 

His deep respect for the history and integrity of auctions made the necessary shift to an online platform sting a bit. As he mentioned, “It was hard on the ego to say that a computer can sell better than me.”

Understanding Tradition. Embracing Change.

The process of buying and selling through an auction is no longer restricted to a specific time and place. Nowadays with online auctions, sellers are able to keep large equipment at their location to cut down on transportation costs. Bidders can place offers on business equipment and other items from the comfort of an office, conference room, or right from home.

This is a phenomenal process, but it has its own set of inherent problems and complications. For instance, photos may not best represent the condition of an item. Or, if the online auction company’s systems are not set up properly, a host of issues can arise – from purchasing an item to the proper, timely delivery of that time and everything in between. And we’ve all suffered the anguish from a lack of customer service that comes with online sites and selling platforms.

This is why understanding what a proper, traditional auction experience looks like is so important in today’s online atmosphere. 

Regardless if an auction is online or in-person, it’s all about the people. At Auction Masters, we’re here to give people the best experience possible.

We’ve driven success for a wide variety of clients. From aircraft parts and repair to amusement parks, hotels, hospitals, and heavy equipment.

The long-standing experience that Auction Masters brings to the table provides our clientele with a huge difference in overall satisfaction. There is no way to replace experience. Greg and the team claim the honor of serving hundreds of different businesses over a wide array of industries. The Auction Masters difference is in bringing the integrity and trustworthiness of traditional auctions to an online platform. 

Our extensive experience in multiple industries has allowed our team to create a streamlined process that works in virtually any setting. After you finish this article, make sure to visit and learn more about the different types of businesses and industries we serve. We continue building our library of industry resources, documenting the best practices for navigating each. In the meantime, let’s walk through the Auction Masters process and look at how our online events work.

The Auction Masters Process
Step 1 – The Appraisal

As mentioned earlier in the article, the Auction Masters team has decades of industry experience, giving us a deep knowledge of asset values and markets, allowing our team to successfully serve your business. We have streamlined the appraisal process and work for our clients to quickly determine market value for your equipment. 

Step 2 – The Sales Process

We make selling business equipment easy, working with clients to determine and then deliver the best prices available. Our auctions are fast and effective. Our method for selling your equipment gives you the best monetary outcome possible.

The team at Auction Masters takes great pride in working to pair every auction with sophisticated marketing, so sellers reach the right customers. Rest assured, we work to find the most valuable buyers available for the purchase of your items. 

Auction Masters Online

At Auction Masters, items are listed in an online catalog and available to view and bid on for a number of days prior to the event. Some of our auctions are also streamed live, giving bidders a real-time view with the in-house audience. For purposes of security and integrity, only registered Auction Masters users can bid in our online auctions. When you register, you’ll receive a Bidder ID that you’ll use.

Our traditional auctions are streamed through our website, allowing you to see each item that comes up for bid, the current high bid, and the asking price. You can submit bids to the floor from the comfort of your home or office right from your computer.

Online bidding with Auction Masters (during a traditional auction) works just like you were present on the auction floor. When multiple people are bidding at the same time, the auctioneer can only accept the offer of a single bidder. However, as the bidding slows down, you will have plenty of time to place your final bid. When you are placing bids over the Internet, the same process happens.

Contact us today to kickstart your used equipment auction in the Minneapolis area. You can book your appraisal below. Let’s hop on a call and schedule a time to take a walk around your facility! 

Upcoming Auctions

What our clients say

"To Whom It May Concern:

Due to recent unexpected circumstances, our company came into possession of hundreds of items of inventory that were unrelated to our current field of business. After a few short phone calls and simple emails, Auction Masters took immediate action. With amazing speed, all of the inventory was professionally photographed, categorized, detailed, and up for auction with minimal guidance from us. Their efficient marketing resulted in a quick and well organized sale. Within a couple of weeks we received the final proceeds of the auction which doubled our initial expectations. We will not hesitate to retain Auction Masters for all of our future inventory reduction needs."

-Timothy, Loss Mitigation Manager

— Timothy, Loss Mitigation Manager