Schneider Industries conducts Live Auctions conducted orally by a professional auctioneer who knows and understands the product to be sold. In most cases we also broadcast the auction offering Real Time Internet Bidding which allows literally thousands of bidders to bid and buy over the internet from the luxury of their home or office.
The process of having an auction is more complex than just the day of the event. The following will detail the complex process that is involved.
ON SITE INSPECTION
First, a representative from Schneider Industries will make an onsite visit to inspect the property, identify the assets to be sold, examine the logistics of removal and timing of the situation and magnitude of the event
INVENTORY
We will then make a full description of all assets to be included in the auction and photograph the major assets as we prepare the advertising.
MARKETING
The marketing process begins with identifying the end user. A direct mail brochure is produced and distributed in a timely fashion prior to the auction. Display ads in trade publications and major market newspapers are also implemented. When necessary, additional notification may come from a either a fax blast, email blast or the combination of the two. Telemarketing is also involved as our networking capabilities come into play putting sellers with buyers.
AUCTION SET-UP
We then arrange the auction in the order we will be selling it, assigning a lot number, complete description and taking a photo to assist in the online bidding process. Signage is then produced to notify all potential bidders during the inspection process of special terms or removal situations involved.
AUCTION DAY CATALOG
Once the information is complete, we produce an Auction Day Catalog for all bidders during the preview. This will include a printed piece with lot number and description for the buyer to make notes on. It also included the set terms and conditions.
INSPECTION PERIOD
The inspection of the assets to be sold is then ready for all potential buyers, and any other situations that may arise are resolved. Inspection is managed by the event coordinatior of Schneider Industries.
AUCTION DAY
On auction day, Schneider Industries registers all bidders by taking their contact information, distributing a catalog and bidder paddle. The auction begins with reading the terms and conditions so everone is clear of what is expected of them as a buyer and all bidders are on the same playing field. The auction is conducted orally from a professional auctioneer knowledgable in the product to be sold. Some lots may be sold individually, or in combination of lots consisting of an entire product line. The auctioneer does this at his descretion to ensure that the assets bring the highest value possible.
CHECK OUT
Schneider Industries can have a representative on site to oversee the removal of assets and coordinate with riggers if necessary to make sure that all assets are removed in the timeline set forth in the terms, and that the property is left in a suitable condition.
SETTLEMENT
Schneider Industries will leave the seller with a copy of all transactions that took place on auction day including a list of all registered bidders, all assets sold and their respective price and the total amount sold. Schneider Industries will remit funds less expenses of conducting the auction to the seller 14 days after conclusion of the auction.
ONLINE AUCTION SERVICES
Schneider Industries can facilitate the sale of assets either solely online or inconjunction with a real time auction conducted orally by a professional auctioneer.
- The Online Only auction works well in a situation where it
is not convenient to have a large crowd tour through a plant that
is still in production, or when you are selling assets from multiple
locations. All bidders can inspect the equipment by appointment,
do their due dilligence, then bid and buy from the convenience
of their home or office.
- The Real Time Simulcast works in conjunction with a live auction where the bidder may not be able to physically attend on auction day, but can place bids, and buy just as if they were present.
Schneider Industries partners with Bidspotter.com to bring literally thousands of potential
buyers to your auction that would not normally be there.
