So what exactly is an auctioneer? It’s a word that is relatively common in fields where buying used and reselling refurbished items are the norm. In the simplest definition: an auctioneer is “a person who conducts sales by auction.” An auction itself is also a relatively broad, simple concept; it’s a publicly held sale at which property or goods are sold to the highest bidder through competitive bids. But what makes a lab auction different, and what exactly does a lab auctioneer do?
The role of a lab auctioneer is changing. Lab Manager claims that today, most auctions for used laboratory equipment take place online, and these digital auctions don’t require an auctioneer in a traditional sense. These online platforms don’t require a person at the front of a room, increasing bid increments and recognizing bidders. Instead, most online auctions allow bidders to “place bids on any listing at any given time during the auction, which typically lasts between 8 and 24 hours.”
Today, the lab auctioneer’s role might appear a little less prominent but is now even more important than ever. Because potential buyers are not always in the same room as the equipment when bidding, they are unable to inspect the equipment for themselves and must rely on the auctioneer to provide an accurate description and assessment of the lab equipment. For an auctioneer, their reputation is everything, both when it comes to securing potential clients and making sales to qualified buyers, whether they are organizing an online or onsite live auction.
The auctioneer services provided by The Lab World Group encompass every aspect of the auction process. Acting as your exclusive agent, we will perform an equipment assessment right at your facility and can customize a timetable to meet your needs. Whether you need to liquidate an entire facility of assets quickly, or if you have a more flexible time frame, we’ll work with you to figure out what best suits your unique situation. Once a lab auction is scheduled, we’ll promote the event to our large database of qualified buyers from various markets that may have an interest in the specific instruments you are selling. Once the event has concluded, our client’s and all the assets have been paid for, the consignor is paid within fourteen days. To date, we have organized and executed multiple successful lab auctions for clients such as Origin Labs, Verastem, Boston Power, just to name a few. Contact us to find out more about our lab auctioneer experience. We have a licensed auctioneer on staff and can provide quick assessments for all your used lab equipment.