Common Misconceptions About Auctions, Part 1

Like with any industry, auctions are often mischaracterized by misunderstandings and misconceptions. In this two-part blog series, we will be addressing some of the top misconceptions about auctions. Read on to learn more about the reality of the modern auction world—especially the online auctions we offer at Bid-2-Buy.

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Our Promises to Bid-2-Buy Clients

At Bid-2-Buy we are dedicated to the simple—but vital—mission of helping our clients and customers build value. When you become our client, and grant us the privilege of selling your assets, you can trust that we will do everything we can to put your mind at ease and put cash in your pocket. Across the thousands of auctions we’ve conducted over the past two decades, we have developed a set of core promises that help us uphold our mission to deliver value for our clients.

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The Importance of Estate Transition Planning

Not long ago, we worked with a client named Ellen whose husband of 29 years had recently passed away. Ellen’s husband owned a small business, and owned several vehicles, pieces of heavy equipment, and tools that he kept for personal use. Ellen’s husband handled all the paperwork. And essentially all the major assets were solely in his name. And, to make matters more complicated, Ellen’s husband hadn’t been the most organized recordkeeper, so, the important paperwork—titles, receipts, loan documents, etc.—was kind of all over the place.

Sadly, Ellen’s situation is all too common. When a loved one either loses the capacity to care for themselves, or unexpectedly passes away, on top of the emotional burden that it presents, the process of asset liquidation can also pose real complications for the beneficiaries. We have supported numerous clients through these kinds of estate transitions, and, based on our experience, we’d like to propose some steps you can take to support your family and loved ones on the road ahead.

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