Hiring An Auction Company

Estimating your assets value:

Typically, one of the first questions a business owner will ask me is, “how much will the assets bring at an auction”. After taking the time to review the assets, the auctioneer should give the client a conservative estimate of the sale based upon his experience and the current market trends. It is important that the company give realistic expectations so the seller can make informed decisions based on their best interest.

Compensation and Expenses:

Is the company you are considering working for you or against you? The agreement you decide may determine this.

A business owner should carefully consider how the auction company is compensated. The most common commission structures include: straight commission, outright purchase of assets, guaranteed base with a split above to both auctioneer and seller, guaranteed base with anything above going to auctioneer or a flat fee structure.

In a straight commission structure, the company is paid an agreed upon percentage of the total sale.

In an outright purchase agreement, the auctioneer simply becomes your end buyer. The company purchases your assets and relocates them. While this can be an option in some unique situations, keep in mind that they will want to purchase your assets at a very reduced price to make a profit at a later date.

In a minimum base guarantee, the auction company guarantees the seller that the auction will generate a minimum amount of sales. Anything above that amount either goes to the auction company or split with the seller. While a seller might feel more comfortable doing an auction knowing that he is guaranteed a minimum amount for his sale, keep in mind that it is the best interest of the auction company to secure a minimum base price as low as possible in order reduce their financial liability to the seller and secure higher compensation for the sale.

In a flat fee structure, the auctioneer agrees to show up for the sale and call the auction. There is no incentive for the auctioneer to get the best prices for your assets. The auction company is compensated regardless of the outcome of your sale.

What is the best option for business owners? In my experience, an agreed upon straight commission structure. This puts the responsibility on the auction company to offer the best outcome for everyone involved. There is an incentive for the auction company to work hard for both parties, set up and run a professional sale, get the highest bid and sell every item on the inventory. Successful auctions translate to a higher bottom line for both the seller and the auction company.

Auction Expenses:

In most auction agreements the expenses to conduct an auction are passed to the seller. If the auction company pays for the expenses, it is simply absorbed in higher commission rates.

All expenses should be agreed upon in advance in a written contract. Typical expenses will include the costs of advertising, labor, legal fees, travel, equipment rentals, security, postage and printing. A reputable auction company will be able to estimate all expenses based upon their experience in previous auctions. An agreement should be actual costs charged as expenses, not an estimated amount.

Advertising is typically the highest cost in conducting an auction. The auction company needs to set up an advertising campaign that will promote the sale to its best advantage and not overspend to simply advertise the auction company.

Once the auction is complete, the auction company should provide a complete breakdown of all expenses to the seller, including copies of receipts within the auction summary report.

Buyer’s Premium:

What is a buyer’s premium? If you attend auctions regularly, you are very familiar with this term. The auction company charges a fee to the buyer when they buy an item at auction.

The buyer’s premium has been around since the 1980′s and is standard auction practice. It was first used by auction houses to help offset costs of running brick and mortar permanent auction facilities. Since then, it has spread to all aspects of the auction industry. It is prominent in online auctions and allows auction companies to cover added expenses incurred from online sales.

It is the responsibility of the auction company to provide clear disclosure of the buyer’s premium to both the buyers and the sellers. Those not familiar with auctions are often taken back by the buyer’s premium. They looked upon it as an under handed way for the auction company to make more money. Reputable auction companies will provide full disclosure within the auction contract, advertisement and bidder registration.

Typically, an auction company will charge online buyers a higher buyer’s premium percentage than those attending an auction in person. Extra fees are incurred with online bidding and are charged accordingly to online buyers. This provides the seller a level playing field for both online buyers and those attending the auction in person. Without the buyer’s premium, there is no way to do this.

Pre-Sales:

We’ve all been there. We’re looking forward to attending an auction only to find that some items were sold prior to the auction date.

As an auctioneer with over thirty-six years of experience, I can honestly state that pre-sales will hurt an auction. When a company decides to liquidate their assets, it is easy to sell off high-end pieces of equipment through online sources, equipment vendors or to other businesses. The seller receives instant cash and avoids paying a commission to an auction company.

Auctioneer’s find themselves appearing to acting in a self-serving capacity when potential clients say they are planning to sell off parts of their inventory prior to an auction. It’s hard not to consider the auctioneer’s commission when they warn you not to pre-sell anything. Yes, the auctioneer wants to earn a commission on those sales but it is more important that the auctioneer protect the sale from potential negative backlash that comes from pre-selling. The buying public knows when an auction has been “cherry picked” prior to the sale and it reflects in their bidding. It becomes a sale of “leftovers” and that impacts prices.

A buyer who purchases prior to the auction usually does not attend the sale. They already bought equipment at a good price with no competition. If they do attend the auction, they tend to let others know of their great pre-sale purchases which again, impacts prices and the overall excitement of the sale.

It is important to understand that auctions work best with a complete inventory. You want competition on your higher end equipment. The easy to sell items make it possible to gain respectable prices for hard to sell items.

When a business owner decides to liquidate their equipment assets, there is only one opportunity to do it right. Hiring a reputable auction company will assist you with a professional, orderly and timely liquidation.

The ABCs of Home-Based Businesses

The advantages of home-based businesses run the gamut from low overhead to personal flexibility. But there are challenges as well. Working from home requires a different set of skills than working at traditional businesses. It’s up to you to cover the logistical bases. You must be able to ignore the distractions and temptations when working at a home-based business. And you must be your own effective critic.

Once you decide a home-based business is for you, the first step is to choose the right opportunity. There are many out there. Choose a home career that you can commit to, that operates with integrity and that has a track record of success.

You’re in good company working from home. In Australia, there are over 850,000 home-based businesses, according to Catapult, a business-resource website. That accounts for two-thirds of the country’s small businesses.

The second step in setting up your home-based business is to make sure you comply with all local and federal regulations. Some housing developments and homeowners associations have rules regarding working at home. And, don’t forget some cities require a business license. If you set up your home business correctly, you will likely be eligible for tax deductions for the space you are using as well as other expenses.

And speaking of space for your home business, be sure to dedicate the correct amount of space to your work. If it can be a room set aside for business only, all the better. If it is a desk in your den or bedroom, just make certain it is a real workspace and that family members respect it.

You will also need to plan for the equipment that your home business will require. At a minimum, that will likely include a computer, phone, and printer/fax. Don’t spend too much on this. No one ever “equipped” himself to home-business success. But you do need the tools of your trade.

Many who start home businesses fail to realize how much work can be involved. Family members need to be supportive in recognizing that working at home is every bit the same as heading off to an office.

Routines can help this. If family members know the hours of your “work day” at home, they can steer clear. Additionally, establishing a set workday can help you say “no” to time wasters and distractions. You’re not at home to watch TV or listen to the radio. Work is work, whether in an office or a home-based business.

You also need to be your own harshest critic. Just like all businesses, a home business that is focused on set goals has a better chance of success. And you need to evaluate your progress toward your goals routinely, certainly not less than weekly.

If an accountability partner can help you with this, then get one. If it is someone who also runs a home-based business, that’s even better as they know the challenges you face and the excuses you are likely to make.

Home-based businesses offer great potential to enhance enjoyment of life. Not only can you earn substantial financial rewards, but you will have the independence that allows you to enjoy the benefits of a home-based business. Attend to the basics, start on the right foot, and work hard. You’ll discover the rewards that thousands working a home-based business know already.

Physical Therapy Education – Professional Careers in the Field

Find Physical Therapy Education in the United States and Canada. Some of the many career paths that individuals can take once they’ve attained the appropriate level of physical therapy education include professions as of course, therapists, administrators, clinicians, consultants, educators, and researchers, among others. Depending on the direction which you take through your physical therapy education, you can expect to work in clinics, hospitals, nursing homes and private homes, rehabilitation centers and other medical healthcare facilities.

With over 200 accredited physical therapy education programs from which to choose, prospective students can opt to participate in both Master Degree programs as well as Doctoral Degree programs. Once enrolled in a physical therapy education course, students learn about anatomy, biology, biomechanics, chemistry, human growth (and development), pathology, neuroanatomy and hands-on training in a variety of therapeutic methods. Additionally, physical therapy education students are often required to complete an internship or clinical training to successfully fulfill educational requirements. Upon degree achievement, graduates must gain licensure to practice in the United States. And, to maintain licensure, practicing physical therapists must take continuing physical therapy education.

Before you enroll in a physical therapy education program, it is important to note that the career field often requires individuals to be in top physical condition; as physical therapists do a lot of bending, kneeling, stooping, crouching and other physical repetitions throughout the course of the workday. However, the benefits of this service job far outweigh the physical aspects of the occupation: Career outlook for physical therapists is “expected to grow much faster than average” than other occupations through the coming years. As well, median annual earnings range between $60,000 and $88,000+. (Incomes commensurate with level of experience and physical therapy education.)

In addition to full-time physical therapist positions, physical therapy education programs are often offered to students with a desire to become occupational therapist assistants, physical therapist aides or assistants. These career-training programs include studies in anatomy, biology, chemistry, physiology and CPR and first aid, among other relative subject matter. Students who successfully complete one of over 200 accredited physical therapist assistant programs in the United States, will earn an Associate’s Degree, and will have gained certification in both CPR and first aid. Physical therapy education for aides and assistants doesn’t stop at the school level; a matter of fact, on-the-job training is frequently provided by most employers. In addition, physical therapy aides and assistants have a potential earnings’ range from $24,000 to $52,000 annually.

Furthermore, the scope of physical therapy education is not limited to conventional medicine. For example, continuing education is commonly offered in a variety of mind-body-spirit medicines like massage therapy, energy healing therapies, as well as holistic nutritional counseling.

If you (or someone you know) are interested in finding physical therapy education, let professional training within fast-growing industries like massage therapy, cosmetology, acupuncture, oriental medicine, Reiki, and others get you started! Explore career school programs near you.

Physical Therapy Education: Professional Careers in the Field
© Copyright 2007
The CollegeBound Network
All Rights Reserved

NOTICE: Article(s) may be republished free of charge to relevant websites, as long as Copyright and Author Resource Box are included; and ALL Hyperlinks REMAIN intact and active.


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