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Promoting Your
Auction Consignment Business
by Aaron, the Online Auction Academy
WebMaster
Recently, the staff here at
the Online Auction Academy had a meeting in which we discussed consignment
auctions - auctions placed by a professional auctioneer in proxy to the
item's actual owner. Especially for large ticket items, this is a popular
and smart way to do business for both the auctioneer and the client. The
auctioneer gets inventory to sell and a commission for doing so while the
clientgets the best price possible for their goods without having to go
to the trouble of learning to auction items themselves.
The hardest part for a
would-be professional auctioneer is getting
started. After all, you have no
background to prove your ability to
get a better price for an item than the
person who's asking you to
sell for them. You'll need something to show the
client that you are
professional - something that emphasizes your strengths
while
de-emphasizing your weaknesses (just like a good resume').
Even
seasoned professionals with several auctions under their belts
and
years of practice will need these same basic tools to
convince
first-time clients why they'll need the auctioneer's
service.
These tools can be lumped
together as a "presentation folder." Most marketing and other professionals
are already familiar with these. Many larger companies who distribute
regular press releases or other promotional items use these as well--in
various forms. You'll need to fine-tune this folder to represent your basic
business as well as your target audience, but the basic principles are the
same.
Items you'll
need:
Auction Examples
Business Cards
Commission
Schedule
Explanatory Brochure
References
Each of these items is
important.
Auction Examples
Whether
you have successfully sold on consignment or not, you have undoubtedly at
least held a few auctions yourself. Pick half a dozen auctions that were not
only successful, but also well executed. Print out these auctions as they
appear (after completion) and keep them on hand. You may wish to "save" the
web page to your computer so you can print more in the future. Try to have
the range of items being sold in these examples be as wide as possible to
show your flexibility. Conversely, if you plan to focus or specialize, do
the opposite. As you continue through your career, keep building your
examples and begin categorizing them. Eventually, you'll be able to
build specialty folders for each situation!
Business Cards
As in any
other business, you will be expected to have business cards to give to
people. These cards should include, at the very basic level, your name,
business, phone number, and other contact information (email, fax, etc.).
It's recommended that you have these professionally printed if your budget
allows. A glossy or
double-sided card makes a much more professional
statement than an inkjet-generated card will.
Commission Schedule
It is
up to you to decide what you will charge and how you will
collect the money.
Most likely you will have a schedule based on the number of items, value of
those items, or percentage above value they return at auction. This schedule
should look professional and be well printed (on good paper, preferably a
thick stock). You may wish to produce this on your own computer for ease of
updates and changes. Include information such as whether you cover
auction-listing fees, shipping of items to winners, etc. or whether the
client is responsible for those costs.
Explanatory Brochure
This
will initially be an explanation of your services with a
marketing-bent
towards explaining why the customer needs them. Cover subjects such as your
services, what will be expected of the client, your background in the
business, and anything else you think would be a "draw" to convince the
client they'll need your services. A good brochure should be no more than one
page, printed on both sides, including photos and text. Most likely you'll
want to have these professionally printed. Of all the items in your packet,
this one will require the most time and be the most effective. Take the
time and effort required to do it right!
References
Lastly, in
your folder, you'll want a breakdown of references. Some
people include the
reference with the auction example (above). Others include a separate list of
references. Either way, be sure that you pick people whom you know will say
good things about you and make sure they have agreed in advance to be a
reference. A quote or testimonial from each of them is also helpful, but be
sure they include contact information. If you are just starting and don't
have references (have you checked with buyers of your previous auctions?),
you can leave this out and include it later. You'll find that it makes a
big difference to a big-ticket item's owner if that person can ask two
or three others what they think of your service.
Finally, go to your office
supply store and buy a set of plastic
loose-leaf sleeves. The kind that
requires a two-hole punch and clips are best, but the slide-rule type will
work as well. Print a
professional cover (or use an unfolded brochure if you
printed them
this way) to insert as the beginning page. Pick the order
of
progression within the folder carefully. Most likely it will
be:
Brochure with business card, Auction Examples, Commission
Schedule, and References.
Once your professional
presentation folder is complete, you can carry copies with you when you meet
with prospective clients or at any other time you believe you'll be in
contact with someone who may be interested in your service! The few dollars
you spend here will pay off later in a higher return of interested
clients!
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The Online
Auction Academy is the premier training school for learning to sell at online
auction and create a profitable business online. Sign up for a free online
seminar featuring the AuctionMan Craig
Meyer: http://www.awwstore.com/oaa/
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