A great many times, auctions are thought of as being vehicles for expensive art or jewelry, estate collections and multimillion dollar properties sold to settle financial problems. It is true that million dollar properties are auctioned, but more often than not, it is because the owner recognizes the auction as the most viable and expedient means of turning assets into cash.
The auction is equally efficient in business liquidations and inventory reduction. For farm and construction equipment and machinery, it proves the most practical method of buying and selling. For bankruptcy it is, as it has been for hundreds of years, the most competent means of settling outstanding debts.
An in-depth look at new construction sales in this country will confirm that they are very frequently put on the market at auction, and often the price received through this method is above market value.
The psychology of the auction is important and it is equally responsible for the motivation of both buyer and seller. For the buyer, it means that he is prepared to buy, has his financing arranged and can bid now. It also means that his limit is established so there is no problem with knowing whether he can or cannot conclude the sale in a timely manner. For the seller it means that the property he wishes sold will be in someone else's hands within a matter of days, and he will be free to move on to other commitments.
Established in 1971, Keith Babb & Associates has become one of the leading auction companies in the south in the sale of farm machinery, business liquidations, real estate and registered livestock.