Why go with Kennedy’s Auction Service?

Most people will only have the need for an auction once in their lives. Because your auction is most likely a once in a lifetime event, you have to get it right the first time. Mark Kennedy began selling antiques in 1978 in a log cabin on U.S. Highway 45 South of Selmer, TN. We began selling antiques and conducting estate auctions from our current location on the corner by the courthouse in downtown Selmer, TN.. Auctioneers are not commodities. Our years of experience have shown us that different auctioneers and different marketing plans can make identical assets sell for drastically different amounts. The prices realized at our auctions consistently top the market. The auction company that charges the lowest commission rate is seldom the best choice, nor will they realize the highest prices for your items. Make sure you hire the Auction Company that will market your assets in the most effective manner using all the tools that only the auction profession has available. Online auctions and technology rapidly changed the auction business and today many of our auctions include live and internet bidding. We are always striving to better serve our clients with a reference library, which includes over 800 volumes. 30 years of auction experience uniquely qualifies us to ascertain the value of your family heirlooms or collection. Our association with some of the largest auction houses in the world assures you the best venue for your antiques and artifacts. Call us for a free, fair market value, estate evaluation today.
 
Why go to auction?
It is a great question. The answer is simple: Auction means action! Buyers and sellers agree. Auctions are the quickest and most efficient methods of selling goods at market value. The timeless simplicity of bringing buyers and sellers together in a live event goes back 1000's of years. The auction method of marketing allows sellers to attract buyers that are highly both interested and qualified and allows them to compete for property.
Auctioneers are the only sellers of personal property in the state of Tennessee with direct state oversight. All auctioneers are required to graduate from a state approved auction school, be tested and licensed by the State of Tennessee. Auctioneers are required to maintain a company escrow account and attend continuing education classes each licensing period. The Tennessee auctioneers commission meets monthly to regulate the auction industry in Tennessee. Consignors who have complaints against auctioneers only need to contact the Commission in Nashville to have their complaint heard. Should the Commission find fault with an auctioneer or auction firm they can be fined, lose their license, ordered to make restitution, etc. The consumer with complaints against estate sales, flea markets, tag sales, or consignment shops only remedy is to hire an attorney.
 
·         Selling your personal property at auction takes the waiting out of selling!
·         “Auctions are successful because they work,” said Larry Theurer, President of the National Auctioneers Association. “They give sellers a fast and efficient way to market their merchandise at a fair market price.” Auctioneers create a competitive and entertaining atmosphere that attracts consumers to the sale. Their hand gestures, eye contact with the crowd, and their rhythmic “chant” stirs buyers and brings the sale to life. It is what separates auctions from other types of sales. People everywhere are SOLD on auctions.
  • Your personal property will bring current market value.
  • Auctions are the most successful method of marketing known to man. World record prices are constantly set by The Auction Method.
  • You know what day and what time your personal property will sell.
  • Professional, targeted advertising and programs bring motivated buyers on sale day.
  • Competitive bidding will insure property will bring highest value.
  • The Auction will bring people motivated to buy.
  • At an auction, the spotlight is aimed entirely on your personal property; it is a fascinating, entertaining tradition that quickly and efficiently converts your property to cash.
  • Auctions bring quick sales. An auction is a catalyst for motivating hesitant buyers into action.
  • Auctions get people’s attention.
  • People enjoy Auctions and therefore spend more money. Auctions are Fun!

 

Why choose an Estate Auction over a Tag Sale?

·         A properly promoted auction brings together a strong blend of dealers and retail buyers, causing prices to rise to their highest possible levels.
·         An auction can dispose of every item within an estate.
·         An auction allows for a quick distribution of an estate to heirs.
·         With auctions, disputes between heirs can be easily settled by each heir bidding on what they would like, knowing the funds will then be distributed back to all the heirs.
·         Drivers will drive further to attend auctions because they know the items will not be pre-sold, and they will have an opportunity to bid. At auction, nothing is sold before the advertised auction date and time.
·         At auction, the crowd and the market set the price, while at a tag sale 1-3 people set the price for your goods.
·         Auctioneers by law must escrow the proceeds from your auction. However, tag sale companies are not regulated, and can legally comingle funds.
·         Auctioneers by law must give a full accounting and settlement to each seller, while tag sale companies do not.
·         Auctions keep the crowd out of your house, or if moved to a gallery, completely away from your property, which reduces sellers’ liability and possible harm to your home.
  • The tag sale method is assigning each item with one set price, if negotiations take place the prices only go down, while at auctions the prices only go up.
  • A tag sale makes no allowance for an item marked below fair market value. The first person there gets it.
  • A tag sale may bring in 100 to 150 people over a weekend - An auction, properly advertised will produce 250 to 400 plus people over the course of the preview and auction.
 
There are Five Steps Involved:
·         Initial meeting/preview: Auctioneer previews your items and discusses your needs.
·         Estimate/contract: Auctioneer prepares an estimate and you sign a straightforward two-page contract that spells out exactly who does what.
·         Photograph/research/upload info to web/sort/organize/itemize: Auctioneer posts pictures, descriptions, and condition reports of merchandise for sale online. Some fragile paper items will be clear shrink wrapped for safety. Jewelry, coins, etc. will be displayed in showcases.
·         Advertise/conduct auction: Auctioneer prepares and runs ads and handles all the logistics for a successful auction. Sellers are always encouraged to attend the event.
·         Settlement: Auctioneer prepares final settlement package for seller that includes list of all items sold with what each item sold for, copies of advertisements, and receipts. When the settlement statement is signed with all required signatures, the Auctioneer will issue check for settlement.

 
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