Supply chain disruptions and shortages are leading many buyers to auctions. Here’s why.
You likely have read or heard about shortages and supply chain disruptions affecting everything from automobiles to lumber. Are you looking to buy items only to find those items sold out or significantly delayed? Auctions provide a way to find many in-demand items quickly and efficiently. Every day, in every state, auctioneers sell cars, trucks, heavy equipment, industrial items, and materials. If you are a consumer or business owner looking for equipment, raw materials, or vehicles, your local auction might have what you need up for auction right now.
Pay what you are willing
Auctions reflect market prices—this may mean that goods are selling for more or less than they might be listed for in a retail setting. However, a listed retail price is irrelevant if the item is sold out, unavailable, or delayed in transit. At an auction, you have the open opportunity to bid and offer what you are willing to pay today for the item. Auctions are fast, fun, and—more importantly—transparent. Once you meet the terms of registration, every bidder is on the level playing field.
Take immediate possession
The nature of an auction also means that once payment is made, you can take immediate possession and put that asset to use. Buying at auction takes the mystery out of when or if your asset will be available. Auctions play a pivotal role in our national economy and represent an open marketplace for goods. If something is selling at auction today, it is available to use tomorrow.
If the supply chain problems have slowed you down, consider if an auction might solve your problem. To find an auction near you, you can use many internet search tools. If you are looking to hire an auctioneer to offer your items to the broadest possible market, use our find an auctioneer tool. In times of plenty and times of scarcity, auctions work to establish the market price and provide an open and fair marketplace.
Jeff Martin with Jeff Martin Auctioneers, Inc. contributed to this article.