Types of Auction Contracts
Myron Bowling Auctioneers offers several contract options for sellers, with various degrees of risk and reward. It’s important to understand the differences and weigh the pros and cons to decide what’s right for your particular situation. Here are our most popular contract options:
Commission: A traditional arrangement where you or the buyers pay a commission. The sale expenses are deducted from the proceeds.
Minimum guarantee: A shared-risk format. We guarantee a minimum amount you’ll receive from your auction, and then split the proceeds that are achieved greater than the guaranteed amount.
Cash purchase: Myron Bowling Auctioneers assumes all risks of the sale. We evaluate your assets up front and pay you a negotiated amount before the sale.
Private negotiated sale: We can conduct a privately negotiated sale either with or without time-specific deadlines. The sale is personally managed by a Myron Bowling executive who acts as the agent between the buyer and the seller, allowing both parties to mutually agree on a price. The executive also arranges preview, inspection, and postsale dismantling and removal of equipment.
Real estate: Myron Bowling Auctioneers can offer your real estate at auction through a licensed state auctioneer/broker. We sell the real estate subject to owner’s confirmation, or absolute. We will charge and retain a buyer’s premium (usually 10-15%) to the buyer. No additional expenses or commissions would be charged to the owner.
Product lines and intangible assets: We can sell your entire manufacturing and/or service business at auction, including any and all intangible assets, such as:
The business or business assets can be sold in any configuration deemed most desirable by the owner and auctioneer.
No matter which contract type you choose, Myron Bowling Auctioneers provides the same thorough service from start to finish. We will:
If you’d like more information about contracts or other auction services available, please contact us.
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