Buyers
It’s no secret that without buyers/bidders an Auctioneer has nothing to offer his sellers. This is the reason we have made a commitment to always treat our buyers/bidders with fairness and honesty. What this means for you, is even though all the items we sell are sold, as is, where is, with all faults, unless otherwise stated. We will not knowingly hide or allow, to be hidden, latent defects ( a known defect that can not be found by a visual inspection by the buyer/bidder).
If an Auction or item is advertised “To Sell Absolute regardless of price” that is exactly the way it will sell. We do not use shill bidders, buy bidders, or allow the Auctioneer to bump the bid at an Absolute Auction. If an auction is not advertised absolute we may reserve the right to bid for the seller or the seller may reserve the right to bid for themselves. When this happens we will make full disclosure in our marketing materials and disclose this fact by announcement the day of the Auction. However, if an Auction is not advertised absolute this does not mean that the items are not going to sell to the highest bidder regardless of price. This may simply mean that our seller desires to maintain some control over their assets until the last bid is announced.
Another thing I would like my buyers/bidders to be aware of is the “Buyers Premium”. Nine years ago when I went to Auction school it was something that was just beginning to gain wide acceptance. There was a few heated debates over the issue between the Instructors and the students over whether it was ethical, or not. Most believed that it was not, since our fiduciary responsibility is to the seller, not the buyer, therefore the seller should pay the Auctioneer. I’m not going to debate it here, I’ll just say that even though it is legal, I do not like it, but I have used it depending on my agreement with my seller. Please, put yourself in my position, if a competitor offers a seller the opportunity to put some of the costs off on the buyer and I do not, that seller will never be my Client! So, if you attend an Auction whether our’s or a competitor’s be mindful of the buyers premium and bid accordingly. I will make a commitment to my buyers/bidders that I will use the “Buyers Premium” as sparingly as the market will allow.
One more thing I want my buyers/bidders to know is that we strive for 80 / 20 Auction. This means at least 80% of the items will be sold absolute and no more than 20% reserved.
The reason, for this look into my side of the Auction business, is simple. I value each and every Buyer/Bidder that has ever attended one of our Auctions. Many of you have become friends and others like family and any success that we have is directly related to you, our buyers.
If you like to attend Auctions where you will be treated with the respect and honesty you deserve go to the contact page and e-mail us your information. If you are an existing customer and your information has changed, you can update your information here as well. Remember, Auctions are a great way to stretch your dollar in a tight economy and many wealthy people would argue that it is the best way to grow you dollars!
Rodney Watson’ s Alabama License number 1763 Kelly Watson’s Alabama License number 2636