Weekly auction update from Andy Conde - 3rd November 2015
This week started like a steam train in Leeds, plenty of buyers all keen to sell and reacting well to activity in the auction hall and online.
Many of the vehicles, which had seen multiple sales sold for considerably more than previously bid and in some cases well in excess of the initial reserves, some made £1,000 over.
So, the question is, have we turned the corner? Not quite is the answer!
One noted change is vendors reacting well to the markets and as I have said on previous occasions, buyers will respond accordingly. I keep telling the auctioneers that our job is to get a bid; it is the vendor’s job to accept or refuse it. Times like this, we should be getting bids on virtually every vehicle as we cannot pre determine the mind-set of the person responsible for the disposal.
I was delighted that we have been able to develop a ‘may bid’ notification on simulcast. This is something I have advocated for a long time and have used it before. It’s quite a simple process, is someone is interested online and may be hovering and cogitating about bidding, the auctioneer is alerted and able to give a nudge of encouragement.
This is no different to having a potential bidder in the auction hall looking lovingly over a potential purchase but just needing the extra push from the auctioneer. In my mind this will be a great advantage and I am sure will prove extremely beneficial.
Finally, a quick update on the Auctioneers Academy, all the students are working well and making some great progress, they're all putting in the hard work that will see them succeed.
This week we are concentrating on learning the skill of online sales, which in principle is no different to physical sales, just without a vehicle in front of you in a cold auction hall. We are also all learning to block clerk, including myself, as it is quite easy to forget the great work our block clerks do and important that we understand what we as auctioneers, put them through.