How to Find Consignments for Your Auction
We've all been there. Things have been rocking and rolling for weeks, months, maybe even a year or so and then suddenly you have an auction scheduled and nothing to put on the block. Maybe you're just starting out and you just want to auction something. How do you find quality consignments for your auction business?
As an auctioneer, finding consignments is essential for building inventory and generating revenue for your auction house. Here are several strategies you can employ to find consignments:
Networking and Relationships:
- Build and maintain strong relationships with estate attorneys, real estate agents, financial planners, and other professionals who may come across clients in need of auction services. They can refer potential consignors to you.
- Attend industry events, networking functions, and community gatherings to connect with potential consignors and spread awareness about your auction services.
- Join local professional organization such as Rotary, Chamber of Commerce, etc.
Advertising and Marketing:
- Utilize various advertising channels, including print media, online platforms, and local publications, to promote your auction house and attract consignors.
- Develop targeted marketing campaigns highlighting the benefits of consigning with your auction house, such as competitive commission rates, wide audience reach, and personalized service. (Check out our blog post for a 30 day social media content calendar if you need some help!)
- Create informative content, such as blog posts, articles, or videos, that educate potential consignors about the auction process and the benefits of selling through auctions.
Direct Outreach:
- Proactively reach out to individuals, families, and businesses in your community who may have items to consign. This could include contacting downsizing seniors, relocating families, retiring business owners, or companies undergoing liquidation.
- Use direct mail campaigns, email newsletters, or phone calls to introduce your auction services and offer assistance with appraisals and consignment inquiries.
Online Platforms:
- Leverage online platforms and auction websites to expand your reach and attract consignments from a wider audience. Consider partnering with online auction platforms or listing consignment opportunities on popular auction websites.
- Utilize social media channels, such as Facebook, Instagram, and LinkedIn, to showcase upcoming auctions, highlight consigned items, and engage with potential consignors.
Specialized Services:
- Offer specialized services tailored to specific industries or niches to attract consignments from targeted audiences. For example, you could specialize in estate auctions, fine art auctions, antique auctions, or collectibles auctions to appeal to collectors and enthusiasts.
- Partner with local businesses, organizations, or collectors' clubs to host specialized auctions or themed events that cater to specific interests and demographics.
Referral Programs:
- Implement a referral program to incentivize existing consignors, clients, or industry partners to refer new consignors to your auction house. Offer discounts, incentives, or referral bonuses for successful consignments referred by existing contacts. Some of our biggest auctions have been referrals.
Community Engagement:
- Engage with your local community by participating in charity events, fundraisers, and community outreach programs. By supporting local causes and organizations, you can raise awareness of your auction services and attract consignments from community members who value your involvement and support.
By implementing these strategies and approaches, you can effectively find consignments and build a robust inventory for your auction house while establishing your reputation as a trusted and reliable auctioneer in your community.
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