AUCTIONS

Apptrade showcases its expertise in facilitating biddings through live auctions, online auctions, onsite auctions, sealed bidding, theatre-style auctions, specialized auctions (e.g vehicle auctions, industrial auctions, etc.), and negotiated sales.

With thousands of satisfied clients and customers, Apptrade has effectively garnered the company a reputation that is second to none in the auction and surplus business in the Philippines.

AUCTION STYLES

There are 3 highly effective and most popular styles of auctioning items:

ABSOLUTE AUCTION - Absolute Auction means the highest bid wins, regardless of price. The typical result? More money for the seller because of the competitive nature of bidding. Competition typically heats up most intensely at Absolute Auctions because bidders know that by outbidding a rival across the room or online, the items can be theirs. But of course, other bidders have the same strategy and desire. Absolute Auctions typically get the most bidding.

MINIMUM BID - Minimum Bid Auctions begin at a minimum price established by the seller. These auctions offer a certain level of safety to the seller but are typically not as attractive to buyers as an Absolute Auction. A key strategy for a Minimum Bid Auction is for the seller to set the minimum low enough to attract the interest of buyers. Setting the minimum bid too high will discourage initial bidding.

RESERVE - Reserve Auctions allow the seller to accept, reject or counter the winning bid for any reason. This gives sellers protection so their items will not be sold below what they consider acceptable, although sellers should be aware that Reserve Auctions typically generate the least amount of interest among buyers because buyers know their winning bid can ultimately be rejected.

AUCTION TYPES

LIVE, IN-PERSON EVENT - When most people think of “auction,” this is it. This type of event features a live auctioneer in an open-outcry setting. Qualified bidders raise their numbered cards or paddles when they wish to bid at the announced price, which is then publicly acknowledged by the auctioneer. A live auction is typically held at a hotel ballroom or conference center setting for multi-property listings, or on-site at the subject property for a single listing.

SEALED BIDDING - In a Sealed Bid Auction, bidders privately submit their best offer, in writing and in a sealed envelope. The bids are opened privately by the auctioneer and seller who do not reveal the bids to any of the participants. The seller can take one of the following courses of action: Accept the highest or best bid; reject all bids and call for a “Best and Final” bid from the two highest bidders, or just commence serious negotiations with all the identified bidders.

LIVE/ONLINE HYBRID EVENT - A great combination that melds today’s technology with tradition to throw open the doors for bidding from virtually anywhere. Bidders in the room, across town, or around the world can purchase items while sellers can have their items exposed to buyers far beyond local markets.

Be sure to speak with a representative from Apptrade Auctions to discuss specifics about your items and to determine which type of event will best suit the sale.

AUCTION RESPONSIBILITIES

Auction agrees to promote and conduct the sale in its usual way, including but not limited to the following:

OUR PLEDGE TO YOU:

• Ensure descriptions in promotional material accurately reflects the information provided by the seller.

• Prepare, print, and distribute all necessary promotional material and make personal contacts to promote interest from prospective qualified purchasers.

• Place the listing on the website.

• Advertise the auction through social media ads and/or direct mail effort and/or other outreach, to be determined.