Auction and Realty Company - SOLD
Business Description: Auction and Realty Company
Footprint: Primarily the Region of Northwest Ohio, Northeast Indiana, and Southern Michigan, but also serves all of Ohio, Indiana, and Michigan, plus seven other states.
Services: Serves financial institutions, business owners, individual property owners, bankruptcy trustees, receivers, and other attorneys desiring to sell or liquidate industrial, commercial, agricultural, and residential real property, intellectual property, machinery, equipment, vehicles, collectibles, and other personal property by auction or traditional sale methods.
Furniture, Fixtures, & Equipment: Approximately $100,000 worth of physical assets.
Annual Revenues: Total commissions usually in excess of $1M and approach $2M during economic downturns.
Annual Seller’s Discretionary Earnings: Approximately $300,000
Staff: Highly qualified, experienced, and long term. Numerous licensed Brokers and Auctioneers.
- Excellent Reputation and well known within the Northwest Ohio, Northeast Indiana, and Southern Michigan Region
- Turn-Key Operation
- Vast and well developed referral system of Financial Institutions, U.S. Bankruptcy Trustees, Receivers, Attorneys, and past satisfied clients
- Utilizes latest technology and processing equipment to generate highest dollar returns
- Possesses uniquely developed multi-parcel software system for large tracts of real estate
- Provides custom sale options tailored to client’s goals
- Extensive Database of Buyers/Attendees
- Experienced and knowledgeable long term staff
- Can provide Consultation, Management, Supervision, Transportation, Storage, and Refurbishing services to aid a client
- Conducts tremendously successful and awaited Semi-Annual Consignment Auction Events (Fall and Spring)
- Business is consistent year in and out and spikes during a downturn in the economy
- Will provide a great add on to any real estate company plus a tremendous hedge against an economic downturn
- An auction listing is almost always a guaranteed commission
Reason for Selling: Owner desires to pursue another professional career that has been a long term passion and hobby for which he has been training. Owner can assure a buyer that he can be more than sufficiently available for a continued association, and would very much like the opportunity to stay associated.
Asking Price: $595,000