If someone has seen an auction advertised online or in their town, they may wonder if they should participate. However, the question should be, is it legitimate? This is a good question and one that should be considered carefully.
To determine if the auction is legitimate or if a person should steer clear of it, there are a few things to consider. Keep reading to learn what those things are. Being informed is the best way to ensure that the auction someone is participating in is legitimate and that they are going to have a positive experience.
The NAA Logo
Any member of the National Auctioneers Association has agreed to follow a stringent code of ethics. This ensures the highest standards of practice when dealing with personal property, automobiles, equipment, estate sales in NC, or any other type of auction situation. Some auction companies and auctioneers have also joined a state auctioneer’s association or other related professional associations. Each of these memberships provides confidence in the auctioneer and their abilities. If there is no logo, be sure to ask whether the auctioneer for an online auction is a member of these organizations.
Detailed Conditions and Terms for the Auction
Well-managed and ethical auction companies will list all the conditions and terms related to the auction. They will also welcome and answer any questions before someone places a bid. Be sure to look for this, and if it is not available, ask about it. This will help ensure a quality company is found and used.
Look for Prior or Upcoming Auctions by the Company
Not all auctioneers and auction firms will have prior or upcoming sales, most of the successful ones do. Be sure to ask about this if these are not clear.
Check the Online Reviews on Facebook and Google
If a company has minimal reviews, or if they have a lot of bad reviews, proceed with caution. Every company is going to have some bad reviews, and quality companies will likely reply to these in a public posting. If there is a company that has perfect reviews with no unhappy or disappointed customers, it is a good idea to proceed with caution. It is almost impossible to satisfy all customers all the time.
There is no question that bidding at an auction is a fun and fast way to buy the things that someone wants or needs for their business or home. Every year, there are billions of dollars spent on cars, livestock, equipment, real estate, as well as personal and commercial property through auction settings. When a true, legitimate auction is being conducted by an ethical and experienced auctioneer, a person can count on a positive buying experience.
While it can take some time and effort to determine if an auction is legitimate, the tips and information here will come in handy. Take some time to consider the options that are available to find auction situations that will provide the best possible products and ensure a safe transaction when anything is purchased.