Leist Auction Process

We often field calls from potential sellers who ask the same first questions: “How does this work, and what do you cost?” They may be considering hosting an auction because they have explained their situation to a friend, and were then recommended to contact Leist Auctioneers to help find a solution. Hardly any of our sellers have ever hosted an auction, and many of them have never even attended an auction. We understand that the auction process can seem intimidating We have found that a quick explanation of the auction process often puts our sellers at ease and brings clarity.

The process for most auctions has a few simple components.

1. Consultation and Contract

We often start by scheduling a free, no-obligation consultation for us to learn the special circumstances of each Seller and determine the assets to be marketed. This consultation is a great time to discuss the client’s goals, explain the auction process and answer any client questions. After a full review of the property we are then able to determine if an auction is the right solution for our Seller’s situation, and if Leist Auctioneers is the right company to conduct the auction. If we feel the client’s goals can be accomplished by hosting an auction, we proceed with a contract which records the terms by which the auction will be conducted and the fees and costs the Seller will incur. We will also use this time to document the timeline by which the auction will be completed, and the location where the auction will occur.

Qualities of A Successful Auction

Auction Contracts

2. Inventory

When we have determined that our Seller is in position to have a successful auction. Now it’s time to view the assets and begin making an inventory. Often, this process begins on the same day as consultation, and is completed on a future date where all relevant items can be accurately described, and effectively photographed. We appreciate all Seller input during this time to offer not only knowledge of the items, but also a history or provenance which may be useful during marketing.

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3. Marketing

Once we have a descriptive list of assets and quality photographs, we can begin a marketing campaign that is specifically tailored for each auction. The in-house Marketing Specialists for Leist Auctioneers are professionally trained to maximize exposure within the determined budget. Our marketing plans can include professionally designed signage, targeted social media posts, printed fliers and paper ads, online campaigns utilizing the latest Google search optimizations for customer targeting, and one of the highest viewed auction websites in the country. Through these platforms our buyers have the opportunity to view your assets in a variety of unique ways such as aerial drone footage, photo and video collaborations and other asset specific avenues.

We prioritize creativity within your auction marketing. When your assets look good, so do we! The days of “print a flier, place a newspaper ad” are done. You deserve an auction company that invests in marketing education and brings your assets to the masses.

4. Set-Up

It’s now getting close to auction day. People have been calling you about your auction, asking questions about your items and probably offering to buy them before the auction. This is something that sellers often deal with and we are always happy to help deal with these inquiries. All of this means it’s now time to get the items displayed and set up for a successful auction. We have already determined through our auction contract whether the Seller will be setting up the auction themselves, or whether they’ll be relying on our auction set up team. In most situations the Seller has opted to do at least a portion of the set-up themselves. Should you choose to set-up the auction yourself, the staff at Leist Auctioneers will provide a simple, easy to follow roadmap for auction setup and also be available for questions or direction at any time.

5. Auction and Settlement

Auction day is often a mix of anxiety and relief for our Sellers. Some Seller’s choose to not be present during the auction, and some make themselves available to answer item questions and visit with buyers. Once the last item is sold, our office staff will begin to tally the results and assist with loadout. The professional office staff of Leist Auctioneers will provide a detailed post auction report which will list every item sold, the price it brought and a tally of all items giving us the Auction Gross. Costs and commissions will be removed from the Auction Gross and the Seller will be presented with a check in the amount of the Auction Net.

We understand the individuality of every client situation. For each auction, we design a comprehensive marketing strategy and auction outline. This may accelerate or delay the timeline, or effect the amount of labor required of the Leist Auctioneers Staff. Collectively our staff has over 100 years of auction experience, we utilize this to find a unique solution to every client's situation. We pride ourselves on conducting successful auctions for our clients and not only promoting our brand, but also the auction method of marketing.