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Auctions: It’s Not all About Land and Buildings

Most people, when they hear the word ‘auction’, they automatically think of land or property but licensed auctioneers are actually involved in selling a host of other stock – including livestock – for a range of private and commercial sellers.

Here at Kinsella Estates, we have been involved in the auction business for almost 50 years from our base in the South East. While we now have offices in Carnew, County Wicklow and Gorey, County Wexford, we acquired a yard in Carnew back in 2010 especially for our furniture, plant and machinery auctions. When we use the term ‘Plant’, we are referring mainly to heavy duty building or construction equipment, while ‘Machinery’ is generally made up of farm equipment.

During the recession and throughout this stage of recovery, we got repeated requests from businesses who needed to we sell off machinery, plant and trade tools in order to raise or recoup money. On the basis that Kinsella Estates had its origins as part of a livestock mart going back many decades, we have extensive experience holding auctions. Perhaps more importantly, our contacts and relationships within the local farming community mean that we can attract the right bidders on the day!

Typically where a group of farmers get together in an area and request us to sell machinery on their behalf, we would invite outside lots with the permission of the relevant parties. At previous auctions, we have offered a number of lots for sale on behalf of seller clients but other sellers also brought along their own lots that they wished to sell on the day.

Another example of the type of non-land auction activity we are involved in might be for farm contents (separate to selling the farm holding itself). Over the years we have sold many farms and the vendors or beneficiaries often request that we sell the farm contents.

A successful auction has, at its heart, the right bidders in attendance. This is where our experience and network of contacts add value. We target our advertising to reach the relevant audience. This involved a mix of newspaper advertising, signage, an email/text campaign and the all-important word of mouth. We attract a large volume of crowds from all around the country. We are proud to have significant repeat business from both buyers and sellers.

Our auction team consists of licensed auctioneers, clerks, office/accounts administration and yard men.

Photo of machinery in a Kinsella Estates auction

Photo of machinery in a Kinsella Estates auction

Photo of machinery in a Kinsella Estates auction

How it works on the day:

  1. Purchasers will have the option to view the equipment and machinery the day before the auction up and until such time as it goes under the hammer.
  2. The auction itself might start at 11am but there is no pre-determined end time. Any auctioneer worth his (or her) salt will stay selling as long as the goods are there to sell bidders remain! Certainly, there are peak auction times in the mid-afternoon but serious bidders will hang around.
  3. Once the equipment is sold the clerk sends his/her information to the office administrator. The purchaser can then go to the office to pay.
  4. The purchaser will receive a ‘passout’ (proof of purchase) which is given to the yard men to verify that the equipment has been paid for and can be removed from the yard.
  5. After sales: We will always have an aftersales team member available on site in case there is equipment which did not meet the reserve price, which we may sell after the auction.

We know the importance of attracting the right bidders so when we are planning a date for an auction we always ensure that there is no other auction on that same day within a 50 kilometer radius. While that might seem excessive, our experience tells us that potential buyers do travel from all over to attend same. Of course, we also take into consideration the peak calendar months for a typical farmer. For example in Spring lambing season and sowing season, the same follows through for harvest.

For specific queries or to speak with a local property expert about your buying and selling needs in Wexford, Wicklow and surrounding areas, contact Michael, Alan or Eileen Kinsella at kinsellaestates.ie.

Email me directly on michael@kinsellaestates.ie or telephone: +353 53 94 21718

on Wednesday, February 24, 2016 in News

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