Ask An Expert: Blackmon Auctions

 

“I am licensed in 24 states, and we consistently work in about 15 states a year. We have conducted live auctions in all lower 48 states and have sold virtually in Canada, Mexico and Alaska.”

 

Are you the one who talks fast? 

I am. I am the owner of the company, and I still auction at every auction we have. The auctioning, or the chant, is one of my favorite parts of the auction business. I got my license when I was 18 and have been selling ever since then. 

 

I want to buy something at an auction. What is your advice? 

Ask questions, inspect and do your homework well before the day of the auction. Make sure you know exactly what you are buying and what condition it is in. Auctions are exciting, and buyers make two mistakes. One, they want their item to be in better shape than it really is. They want to think they found something that no one else noticed. Sometimes, you are the only one bidding for a reason. Second, buyers go over their original budget. Before the auction starts, write a number down, and don’t go over that number when you are bidding. That number you write down the day before the auction is an educated value. When the auction starts and you are bidding, that amount is based on emotion and competition.  

 

Why should I auction something as opposed to listing it myself? 

An auction is the best and most efficient way of selling that brings out the competition and need from your buyers. You might be able to list something on an online marketplace and sell it quickly, but are you really getting the highest market value? A well-advertised auction conducted by an established auction company will always create the highest market value for that day. 

 

5423 Kavanaugh Boulevard, Little Rock • 501-664-4526 • blackmonauctions.com