Whether due to foreclosure or simply needing to sell property, real estate auctions are a common and streamlined way to buy or sell land. At Dakil, our real estate auctions are open to the public, but we encourage thorough research before placing a bid. While the prices of real estate sold at auction can often be lower (especially in foreclosure), placing a bid should be taken just as seriously as if you were searching for a home the traditional way.
Purchasing real estate is a large, long-term commitment, so it’s important to thoroughly research the property you are interested in. Knowing approximately how much the property is worth, the potential resale value, what repairs would need to be done, and comparative prices in the area can help you as the bidder in knowing when to bid or when to back away.
Never place a bid at a real estate auction without first having inspected the property you are bidding on. If you acquire property through an auction, you receive it as is, so it’s key to make sure you have inspected it and are sure it is the right fit for you.
At Dakil, we offer property showings by open house, as well as detailed information about the property being auctioned–before the auction begins. This way, we can ensure our bidders know what they are bidding for by the time the auction starts.
If you’re the winning bid at a real estate auction, the overall price of the property can be financed. However, a down payment of five perfect of the contract price is required upon winning the real estate auction at Dakil–if the successful bidder is not prepared, they could lose the sale.
Having a pre-approved loan for the real estate before going into auction can help ensure a smoother sale.
If you are the successful bidder, you will receive a certificate of sale following the auction. However, this is not to be confused with the certificate of title. This can take up to 10 days to complete. It is important to not do any work on the property if the certificate of title has not yet been received, in case something happens with the sale or the owner files an objection to the sale.
Dakil Auctioneers is the leading Oklahoma land auction firm. View our Oklahoma Real Estate page to learn more about how we perform our real estate auctions, and take a look at our Real Estate for Sale Listings and Upcoming Auctions to learn more about future real estate auctions.
When you’re auctioning large equipment such as construction equipment or trucks, making a profitable return on the sale is of great importance. Finding trusted professionals who know the value of your products is key, but also a challenge. Fortunately, at Dakil Auctioneers, we host large equipment auctions frequently and strive to help the seller receive max value at the auction. We’re here to help, so we’re sharing our best large equipment auction tips with you.
Researching the sales trends prior to auction for both older and newer equipment is integral to ensuring you receive max value in a large equipment auction. It’s always helpful to have a reasonable value in mind for whatever you’re selling and buying. While professionals will help you with this, coming in right away with price points in mind can drive the conversation as to what the best starting price should be.
While doing your own research is important, don’t ignore the importance of talking to an auction professional. Auction professionals have solid experience with large equipment auctions, and they know what products are worth and what they are most likely to sell for. Auction professionals will use their expertise to ensure that you get the highest return on investment for your product.
Take as many photos of your equipment as possible. This will not only show the buyer what your product is worth, but it will also show them the exact condition it is in. Earning buyers’ trust helps them to be more willing to pay what your product is actually worth.
Making sure the right buyers for your product are present at your auction increases the likelihood you will receive the best possible return on investment. Don’t underestimate the power of marketing to online groups, putting ads in relevant sections of the newspaper or local trade magazines, or simply connecting with organizations that would value your products. Fortunately, Dakil can do this for you.
There are many different things buyers of heavy equipment could be looking for at an auction, but if you come prepared, transparent, and knowing the worth of your products, your chances of a higher return drastically increase.
For more information on how to prep your items for an auction, refer to our blog “Prepping Your Items to Get Max Value at Auction.”
Participating in an auction can be beneficial for you or your business, but the preparation can be daunting. When can you know if it’s the right time to take your items to auction? How do you prep your items for auction? What types of auctions should you attend beforehand?
These are just a few of the questions to consider when selling your items at auction. We’ve compiled some of our favorite blog posts to provide you with our best tips and tricks to help you decide when to put items up for auction, preparing your items, and more.
Once you decide to put your items up for auction, consider how you should prep them beforehand. Thorough preparation can increase items’ value and level of interest, so taking the extra time to do so is worth it.
This article highlights how to prep items in every category – automobiles, heavy equipment, business and restaurant, real estate, and estate sales.
If you’re trying to decide which items you think you should purchase at an auction or what types of items you want to put up for auction, this guide outlines which items hold their value the most if bought used, the likelihood of using a loan to purchase, how easily the price can be negotiated, and more.
Are you looking to liquidate your business or to buy items from a business liquidation? There are many things to prepare for when selling in or attending one of these auctions, including using the U.S. Small Business Administration’s checklist and brushing up on the true value of the items being sold.
Dakil’s team of experts can create an individualized marketing plan for liquidation auctions, and this article explains how.
At what point does holding on to used equipment actually cost you money? This infographic outlines the service life of commercial and residential items and helps indicate the point at which your items should be sold to avoid a loss.
Participating in an auction for the first time can bring a lot of confusion. Knowing which auction employees do which tasks, what they are called, and proper auction etiquette can seem overwhelming, but we have shared some of our best tips for getting through your first auction without confusion.
If you choose to partner with Dakil for your business auction, it’s good to know some of our most common marketing practices. Dakil’s one-of-a-kind process ensures your items are seen by the widest group of buyers, including long-time Dakil auction attendees.
At Dakil, we take pride in the growth of Oklahoma City and its surrounding community. One of our favorite ways to show our support for our community and our local non-profits is to give back by hosting benefit auctions.
Auctioneer Barrett Bray explains why Giving back to the community is extremely important at Dakil Auctioneers.
“We have seen the growth of Oklahoma City since we opened in 1983,” Bray said. “We have seen the growth and the changes that have happened over the last 35 years, and no matter how much we grow as a community, the value remains the same. We want to hold Oklahoman values no matter how much we grow.”
The following is a small list of the many community organizations that we partner with to host benefit auctions and other outreach events.
The INTEGRIS Jim Thorpe Rehabilitation Center provides inpatient and outpatient care for those who have been affected by a stroke, brain injury or tumor, spinal cord injury, and more.
The Fellowship of Christian Athletes is a Christian sports ministry whose mission is to challenge athletes and coaches to live Christian values and to see the world impacted for Christianity by influencing others through athletics.
The Oklahoma City Dream Center works in partnership with the Inner City Church to connect those who suffer from substance abuse, and those in poverty, homelessness, imprisonment, or gangs to help them meet their needs. The program’s goal is to help these individuals make positive, long-term changes in their lives.
Located in Edmond, Oklahoma, Oklahoma Christian University has been named by the U.S. News & World Report as one of the best universities in the west. Their NCAA athletics program offers a wide selection of both men’s and women’s sports.
Dakil Auctioneers is a proud participant in Edmond Santa Fe’s Double Wolf Dare Week and Edmond North’s Balto Week, fundraising weeks hosted by the schools for the benefit of different charitable organizations. These organizations have included Fields and Futures, Special Care, Inc., Infant Crisis Services, and Autism Oklahoma.
At Dakil, fostering and supporting our community is one of our central values. For more information on how Dakil partners with community organizations, contact us today.
The auction process is fast-paced and can seem overwhelming to someone who has never attended one before. At Dakil, we strive to ensure all of our customers, first-time and returning, feel comfortable in the auction process.
The two major points of confusion and potential intimidation for auction first-timers are the roles of the employees during an auction and how the bidding takes place. Dakil Auctioneer Barrett Bray breaks down both in order to make understanding the auction process as simple as possible for a newcomer.
“There are two main types of auction employees that assist with the bidding,” Bray said. “The Auctioneer and the bid spotters.”
The role of the auctioneer is to lead the auction. They talk in a fast-paced manner, informing the buyers who are currently in the lead, and encouraging them to bid more.
“A lot of people worry they won’t understand the auctioneer because they are speaking so fast. We make sure that our auctioneers speak as clearly as possible, so that everyone understands,” Bray said.
The auctioneer isn’t the only one taking bids and scanning the audience, however. He also has multiple bid spotters, also known as ringmen, helping him keep track of who is bidding and how much.
“The bid spotters communicate information to the bidders, answer bidder questions, and alert the auctioneer of new bids in their section,” Bray said. “If you ever need any sort of clarification or have a question in the middle of an auction, a bid spotter can help you.”
The auctioneer and the bid spotters try to make bidding go as smoothly as possible for the bidder. However, in a busy auction, it’s still easy to get confused on how to bid and for how much.
“The auctioneer tries to get the best available price for the items, and get it as quickly as possible,” Bray said. “Bidders should be aware to be polite. It’s not a garage sale, so they are expected to bid quality prices.”
The auctioneer bids the prices in $25 increments. For example, if the current bid was $100, the auctioneer would push for a $125 bid. The least an auctioneer will take is half of the increment they are asking for.
It is a common misconception that any movement as much as a cough or a stretch can count as a bid. This is not true – only legitimate bids are accepted via an obvious flash of the bid card.
“We will only take legitimate bids,” Bray said. “You need to just show your bid card. We won’t let you accidently make a bid.”
During the auction, the auctioneer and the bid spotters are busy keeping track of new bids, so they do not have time to take formal minutes and records for the auction. A clerk is the gatekeeper of the records, and keeps track of who is buying what and for how much.
“The clerk is very busy, so he cannot be distracted,” Bray said. “Don’t bother the clerk; if you have questions, refer to the bid spotters.”
It’s also important to keep in mind that everything in an auction is sold as is – after it’s purchased, it is non-returnable.
“Always research the items you are purchasing. Auctions are all buyer-beware,” Bray said.
You don’t have to be a seasoned bidder to participate in a Dakil auction. We want to make sure all of our bidders feel welcome in the auction process. For more information on how auctions work, visit our Auction 101 page, or contact us today.
When Cabela’s announced they would be opening a new location in North Oklahoma City, Barry Bryant, owner of Heartland Outdoor in Edmond, decided it was time to liquidate his gun range business. Although he didn’t know where to begin, he connected with Louis Dakil and knew that he could trust Dakil with the auction process.
With all that needed to be auctioned, Bryant felt overwhelmed. Heartland Outdoor carried a variety of products that fell into several different categories, but fortunately, Dakil Auctioneers was able to ease the stress of the logistical challenge.
“They did an awesome job because of the way they came in and sorted the products together and had everything in files,” Bryant said. “They put in a lot of work into the presentation as well. I could never have done the work that they did to present everything in such a great way for the buyers and get it sold quickly, and for great prices.”
Through Dakil’s marketing processes, Heartland Outdoor’s auction was able to attract customers from all over Oklahoma and in other states as well.
“They brought people from Oklahoma, Missouri, and states even further than that to my auction,” Bryant said. “It was very successful.”
The liquidation was an emotional process for Bryant – it was painful for him to let some of his cherished items go to auction. Dakil kept this in mind and reassured Bryant that the majority of the work would be taken care of, so he would not have to be heavily involved if he did not wish to be.
“Dakil auctioned off the guns one by one and dealt with all of the paperwork themselves,” Bryant said. “I didn’t have to do anything, they did all the work. Louis Dakil was there every step of the way and even said a prayer with me before the auction. I probably got 70 cents on the dollar for every piece of inventory that I auctioned with Dakil.”
Not only did Dakil provide support to Bryant and Heartland Outdoor in an emotional time by taking care of all of the work, Heartland Outdoor also reaped a significant return on the value of their items, resulting in a successful auction.
For more information on how Dakil can help you with your business liquidation auction, contact us today.
At Dakil Auctioneers, not only do we host some of the largest auctions in Oklahoma, we also market our auction products widely and thoroughly to ensure that even the most niche products are sold at competitive prices.
We market our auctions and products three different ways — directly, through print, and digitally. This way, we can ensure all parties that could be interested in the specific auction products are notified of the auction. We’ve broken down our marketing process for you to show you how sending your items to auction with Dakil means they will be seen by thousands of potential buyers.
Using our partnership with the Oklahoma Press Association, we are able to run newspaper advertisements for our auctions in a wide target of areas within Oklahoma and the region. Because many of our auction attendees avidly read the newspaper, our classified advertisements in the auction section are well-read and bring in many regular and new attendees to our auctions.
We also place print advertisements in various trade magazines across various industries so that avid followers of a certain industry are aware that an auction of pertinent items is coming up. These magazines attract customers from all over the country – not just Oklahoma.
Many of our larger auctions also get featured in newspaper write-ups as well, which are typically much larger than classified advertisements.
“If you walk into our building, newspaper pages filled with stories of our large auctions cover the walls. It really provides great PR for the upcoming auction and brings in a lot of attendees,” said Barrett Bray with Dakil.
What makes us unique is our way of directly marketing our auctions to potential buyers. Over the years, Dakil has collected a completely organic list of thousands of interested buyers and previous auction attendees. This list is divided into more than 100 auction industry categories. Whenever an auction for a specific industry is coming up, we alert the people on that list in that category via e-mail and direct mail to ensure that they are notified.
We also pull listings of similar companies who might be interested in a specific industry auction. Similar industry businesses are always looking for a great way to enhance their business, so notifying them of an upcoming auction in their industry brings great attendance.
Lastly, we market our auctions to potential buyers digitally. Our website received one million page views just in 2016, and it is constantly updated with our upcoming auctions. We also advertise our upcoming auctions via social media, like on our Facebook page.
2016 was a big year for Dakil. From business liquidation auctions to educating first-time clients about the benefits of auctions, we have been committed to customer service every step of the way. Here are just a few of our favorite educational blogs and client spotlights from this year.
Selling household items can be stressful – especially if you are trying to sell multiple items. Craigslist and eBay can work if you’re trying to sell one or two items, but once you start trying to sell multiple things, it can become a hassle. That’s why auctioning these items comes with many benefits – like appraisals, logistics, and prep work done for you. You might have more items in your household suitable for auction than you think!
Did you know Dakil has been in business for 33 years? In 1983, Louis and Susan Dakil quit their jobs and started a business that became a national industry leader.
Taking the extra time to prepare your items for auction can be the very thing that makes you more money at the end of it. Take advantage of these ways to maximize your selling price and have a successful auction.
Whether you need to sell items from your business liquidation or are looking to buy, auctions are the most effective way to get what you want. Our comprehensive auction guide has everything you need to know so that you can be prepared for any business liquidation auction.
There are a lot of steps involved in successfully selling a car, and it can end up becoming an extremely long process. Selling a car at auction can save you time and make you extra money as well – and it’s a lot easier than you’d think.
In October of 2016, we auctioned off more than 100 firearms. We highlighted the history of these firearms within a timeline and told each gun’s unique story.
Depreciation is what happens when an item decreases in value over time – and it could cost your business unnecessary money. Sometimes, selling your used items before their values go down and replacing them with new items can save your business money.
Selling niche items can be quite the task. How do you market those items to potential buyers and make them sellable? Dakil helped a local trampoline park sell their equipment through a successful auction.
2016 was a successful year for Dakil, and it’s all thanks to our wonderful customers. Here’s to 2017 being even better! Interested in auctioning off your items? Contact us today.
When Aaron Diehl was tasked with the challenge of selling all of the equipment for a local trampoline park in Tulsa, he had no idea where to start or who to turn to for assistance. There were concerns about transportation and about general interest level, and Diehl wasn’t sure how he could sell to such a niche audience. That’s when he called Louis Dakil.
“I was the manager for a trampoline park in Tulsa, and the owners wanted to sell the company,” Diehl said. “We needed to sell all of the trampoline equipment, but we didn’t know how to get started.”
“When it was suggested to take it into auction, we thought that would work best for us, but we had so much equipment the thought of transporting it was overwhelming. We called a dozen auction houses and nobody had the room to do such a large auction. When I called Dakil, they had the room for our auction, promoted it, and ensured that there was a good turnout so that we could sell everything.”
Dakil Auctioneers was able to help Diehl market his products to audiences that would be interested in purchasing them, which ensured higher sales.
“I had no clue how to market to those who would want this kind of equipment nationally. Dakil advertised to those interested in theme parks, water parks, malls, the entertainment realm, and it worked out fantastically.”
“I thought it was incredibly successful,” Diehl said.
“The fact that we had the turnout that we did blew my mind. The size of the crowd was so fantastic on such a niche market, and in addition to that, we had online competition as well! We had people who flew in from all over the country, and then even more online only. It really eased my worries about finding the people who would buy such a niche product.”
Even with the smaller niche market interested in trampoline park equipment, Dakil was still able to ensure a good sale for Diehl and his team – with a quick turnaround.
“Dakil even helped coordinate getting all of the items out after purchase,” Diehl said.
“Dakil’s crew did the impossible. They have this down to a science. Louis Dakil is a master at what he does. I’ve met with him many times about the auction, and he made me feel prepared and I knew exactly what I was getting into. I felt like he was my professor in business ownership – he and his team are absolutely amazing.”
Would you like more information on how to auction your goods to those who might need them — even if you think you have a small audience? Contact us today.
Business owners incur plenty of costs. From employee salaries to rent to equipment — the list goes on and on.
One thing businesses might not think about is the depreciation of their equipment. Do the old computers your employees use cost your business unnecessary money? Should you have sold that construction tractor three years ago and purchased a new one before its service life ended?
Depreciation can be described as the decrease in value of an item over time, typically due to age and the condition of the item. By knowing the service life date of common residential and commercial items, it will show how fast the item depreciates and that old used truck is costing your business more money than it’s worth. (more…)