- Conduct all auctions, appraisals, and business transactions with absolute integrity.
- Give 100% of our efforts and abilities to maximize revenue for our clients at Public Auction.
- Offer “added value” to our clients by cultivating trustworthy relationships with the buyers who attend our auctions.
- Have a “No Surprise” relationship with our clients by offering accurate estimates of potential auction proceeds.
Our Auction Process:
At Thompson Auctioneers, we know that conducting a successful auction can be a little complex. Our stream-lined, 7-step approach makes the process a little easier.
Initial Valuation, Development of Marketing and Time Line:
Your initial meeting with a representative of our staff will achieve several purposes: Determine the value of the asset base to be auctioned; develop a time line for completion of the project; begin developing an expense budget necessary to successfully complete the project; and begin marketing preparations.
Our first objective will be to compile a list of items to be auctioned and obtain photographs. This list will be used for our direct mail flyer and on-line sale announcements. Based upon our experience, both direct mail and online advertising efforts are targeted to the specific buyers most likely to be interested in your assets. We take great care to ensure each flyer mailed is going to a potential buyer. In addition to purchased names, our in-house direct mail and email lists are continually updated, providing the most effective mailing lists possible and eliminating waste.
Auction Set Up:
Two to three weeks before the auction, our experienced Set-Up Crew will be on-site, cataloging, lotting, and tagging the entire auction. Individual photos of each item in the auction will be taken, and we will generate the “flow” of the auction (for example: where to start, where to end, etc.) to best utilize the return on your assets. Finally, a general clean-up will be performed, assuring a neat and orderly environment on auction day.
We offer a 6 to 8-hour inspection period one day prior to the auction, to allow potential bidders the opportunity to inspect items to be auctioned and to answer questions they may have pertaining to the auction’s assets, or the auction process in general.
Thompson Auctioneer’s staff will register each bidder, and Terms & Conditions of the Auction will be distributed to all attendees. Our staff will be available to answer any questions that you may have as the day unfolds. Steve Thompson typically handles the actual auction service for each of our auctions, bringing his direct knowledge of each asset to the auction ring.
After the Auction:
We believe our commitment, and the engagement, does not end once the auction is over. We will leave staff in place for the necessary time period after the auction (typically 5-7 days), to coordinate the removal of each item sold, to tie up any loose ends involving either the client or the bidder, and to ensure that the facility is left in a clean and orderly fashion.
Post-Auction Wrap Up:
Thompson Auctioneers will provide you with a list of all registered bidders and a complete accounting of the auction sale on a piece by piece basis, including final bid amounts.
MDNA – Machinery Dealers National Association:
We often cooperate with Machinery dealers to conduct auctions of surplus assets. We have assisted with liquidating large quantities of machinery, and in-turn, they have helped us find buyers for hard to sell machines. The MDNA and its membership adhere to high standards of integrity and professionalism. It is a privilege to be associated with this organization.
AMEA – Association of Machinery & Equipment Appraisers:
We have expertise in most types of commercial & industrial equipment and machinery. We provide appraisal services for most major banks and lending institutions, The U.S. Bankruptcy Court, and a multitude of private business owners.
CAI – Certified Auctioneer’s Institute:
Dedicated to ethics and professionalism in the auction business our association with the CAI keeps us abreast of the business trends that effect our business.
NAA – National Auctioneer’s Association:
The NAA is dedicated to providing members with educational programming and resources to help them advance personally and in the industry. Members of the NAA abide by a strict Code of Ethics and are connected with an extensive network of auction professionals.