Online farm auctions are becoming increasingly popular but what separates the good online auction companies from the bad?
Thinking about cleaning out your shop, liquidating equipment you no longer use or maybe even selling off some land?
This could be a great strategy as both the land and equipment markets are hot and good equipment and land is hard to find. Online farm auctions are becoming increasingly popular and can be used to effectively obtain the best price when selling your farm assets.
Why Sellers Are Seeking Out Online Auctions
Online auctions can connect you with a global buyer base, which increases competition.
Additionally, auction companies like BigIron Auctions do everything from marketing your auction and photographing your equipment or land, to the logistics of overseeing your auction.
"The biggest positives about BigIron is that it's not a time consuming thing for you. You don't have to do any work, they do all the work for you - I kept doing my full time job and didn't have to worry about having an auction."
-BigIron Seller Mark Craft, Paragould, Arkansas
Online bidding is transforming the way equipment and land are bought and sold. You’re able to connect with potential buyers through the online platform, creating trust just as you would at an in-person auction.
Anyone with a phone in their pocket can now engage with an entire community of buyers, a reach well beyond that of an on-site auction.
However, not all auction companies are equal.
What separates the good online auction companies from the bad?
Perhaps the most significant reason online farm equipment auctions are gaining popularity, beyond the pandemic, is how companies like ours builds transparency between the buyer and the seller.
This translates into farmers seeing bigger returns on their equipment.
Transparency can be established in a couple of ways but the top things that have drawn more and more farmers to online auctions at BigIron are:
+ Our agents thoroughly document equipment through photos, videos, sales and service records
+ Bidders can contact the sellers directly with any questions
+ No buyer fees gives more purchasing power to the bidder
+ Unreserved auctions ensures the item will sell to the highest bidder
+ Lien free items make sure the transfer to the new buyer is smooth
These benefits enable you to receive greater value back for your farm machinery and land while buyers gain access a wide variety of equipment.
If you’re looking to sell your equipment or land, an online auction is a great option to consider. But do your homework to choose the right company for you.