An auction company solicited us and said they would sell our collateral for free. What’s up with that?
They charge a buyer’s premium instead of a seller’s commission. Many if not most auction companies charge a buyer’s premium on every item they sell. This can be 15% or more on every item sold. The Dobbins Company does not charge a buyer’s premium. Why? Because it has been proven to adversely affect the net recovery. Our number one goal is to maximize a lenders net recovery and shield them form liability.
Related Questions
- Although that same auctioneer said he would sell my collateral for free, he needs what seems to be a large up-front retainer to cover advertising. What’s this for?
- An auction company solicited us and said they would sell our collateral for free. What’s up with that?
- Can I sell directly to local market in UAE, if I have a company based in Free Zone?
