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Serious Buyers

Serious Sellers

NON DISTRESSED LUXURY REAL ESTATE MARKETING & SALES PLATFORM

               Local | National | International

Creating the competition of common interest

As experts in the auction space, the New York Auction Center is the best and only place to sell your residential, commercial, retail, industrial and development properties.
 

Through a combination of our expert, honest guidance and our bespoke marketing and sales packages, to our state-of-the-art auction facilities, we are literally a one-stop-shop that will make your auction experience a huge success and even a lot of fun.

CO-BROKING AUCTIONS

If you have a valued relationship with a broker, but are looking for an alternative method of sale, we will happily work with your appointed broker to help achieve the best result for you. 

DIRECT LIST AUCTIONS

In this instance, from start to finish, we handle the entire auction and marketing process with a highly-personalized approach to the sale of your property. As experts brokers and auction practitioners for over 20 years, you are in very capable hands.

AUCTION CONSULTANCY

Auction consultancy is a fixed-rate consultancy we offer to the growing number of brokers and firms looking to manage and execute the auction process themselves. We have several options, so please contact us to discuss.

ESTATE & BUSINESS CESSATION

An auction is the fairest and best way to obtain market value for estates and business, and helps to solve issues of disputes in a timely manner.

BANKS & FINANCIAL INSTITUTIONS

We offer tailored marketing and auction campaigns to banks and financial institutions looking to sell luxury real estate. In this case we suggest absolute or reserve-based auctions to ensure you maximize the return and reduce potential losses for the bank and client. We also offer pre-foreclosure solutions to homeowners in financial straits.

SPONSOR SALES & DEVELOPER SOLUTIONS

We offer tailored marketing and auction campaigns and absolute or reserve-based auction and sales solutions for property developers on sponsored units or hard-to-move stock. This allows them to be in complete control of the sales process. 

 

Premium results, every time.

The auction process is designed to get premium results every time. We can sell artwork, boats, cars and just about everything else via auction. If the process is followed correctly market value will be achieved and exceeded every time. 

Auction advantages for sellers

Auctions differ from private sales as there is no "cooling-off period":

Sellers set all the terms of the auction

Cash-unconditional sale

Settlement in 30, 45 or 60 days

Remove barriers and issues in post-sale negotiations

If you are bidding at an auction, you must be ready to exchange contracts and complete the sale. Otherwise, you will lose your deposit and may be liable for any damages suffered by the vendor.

 

Live Online, Across the Globe

We have partnered with the best industry provider of online, live auction software to ensure your properties get the maximum exposure and that potential buyer's can bid from anywhere around the globe.

Which Auction Method is right for me?

RESERVE

Reserve auctions are the most popular and the way that most auctions are successfully completed. 

SEALED 1ST PRICE AUCTION

Double or blind auction, also known as a first-price sealed-bidauction (FPSB).

ABSOLUTE/NO RESERVE

Executed correctly this method will always ensure market value is realized. 

ONLINE AUCTION

Over the past five years, online auctions of real estate have continued to grow with great success. 

DUTCH AUCTION

Also known as an open descending price auction.

AUCTION BY CANDLE

More for interest then any practical sense these days, but back in the day this method...

Accelerated Marketing

There is not a one-size-fits-all when it comes to marketing and where a property should be marketed. It is important to tailor a marketing package that suits you and your budget and gets in front of your target buyer. 
 

Like any product launch, the correct marketing spend is going to get your property the most exposure, hence the most potential buyers.

  • Your commitment to auction your property sends a message to the market that you are a genuine seller prepared to invest in your sale to get the maximum return. 
     

  • We believe you never get a second chance to make a first impression. The first 21 days from when your property becomes available are the most crucial.
     

  • Exposure is key and the more people that know about your property can really drive up the price. One additional buyer could add $100,000 or much more to your sale price.
     

  • Do you want us to present you with a marketing plan to win your business, or one that will get you the best price in the shortest possible time? Just reach out and we'll get back to you within 24 hours. 

 
 

Sell in as quickly as one day or maximum of six weeks.

Getting a deal done quickly and on your terms is the perfect result.

 

We encourage buyers to make offers from day One that we can present to you. We gather buyer feedback every day so you can make the most informed decision.

 

Sell Day 1, Auction Day or set a price after auction day if you feel market expectations are not met.

Complete Auction Solutions

Complete solutions for selling luxury residential, commercial, rural and industrial real estate

Fully-Equipped Auction Facilities

Live Auction Broadcast around the world in HD and 360 Video/Virtual Reality

Bidding online and in-room, desktop, mobile and tablet.

Convenient locations in Manhattan, Westchester, Greenwich, New Jersey

What can I do to prepare for the auction?

Do I know the market?

Research, research, and more research. When you have decided on the type of property you want, and what areas you are looking in, inspect as many similar properties as you can.

 

Look at recent sales of similar properties. Research will help you better anticipate a property’s likely sale price.

What kind of property am I buying?

Understand the differences between owning a house, and owning a condo or co-op. Each has different ongoing costs and obligations.

Is this a property I really want and can buy?

Be sure that the property meets your requirements and is one you can afford.

 

Consider whether it is close to the amenities you need, any repair work needed, noise levels, if there is enough space, and if you can afford the repayments.

Am I ready to go ahead with the purchase?

If you are the highest bidder, you have to sign the contract, and there is no cooling-off period.

 

If you cannot complete the contract you will lose your deposit. Before you bid at an auction, ensure you have:

  • your finance unconditionally approved (not just pre-approved). 

  • enough money on hand to give a cheque for the deposit (this is usually 10%).

  •  thoroughly inspected the property and know the property’s condition. 

  • reviewed the contract with your solicitor/licensed conveyancer and are comfortable with its terms.

.... be prepared!

Common Questions

How does an auction work?


To participate or bid at an auction, potential buyers must register with the vendor’s agent and be given a bidder’s number. The auctioneer oversees the bidding process. They take bids from potential buyers and keep track of the current bid price.

Before auctioning a property, the seller will nominate a reserve price, which is usually not advertised. If the bidding continues beyond the reserve price, the property is sold at the fall of the hammer. If you are the successful bidder, you must sign the contract of sale and pay the deposit on the spot (usually around 10 per cent of the purchase price).




What is the difference between an auction & private sale?


Auctions differ from private sales as there is no cooling-off period after the seller and buyer exchange contracts. If you are bidding at an auction, you must be ready to exchange contracts and complete the sale. Otherwise, you will lose your deposit and may be liable for any damages suffered by the vendor.




What properties are suitable for auction?


We generally say that all properties are suited for auction, however, in New York City we run into some issues with Co-Ops. It is not to say we cannot auction co-ops, we just need to look at each building on its merits. Before we proceed we make sure we are able to confidently execute an auction program on your home or asset.




Auction Terminology


Reserve price – before the auction, the vendor (seller) will set a price with the auctioneer that is the minimum price they will accept. If the reserve price isn’t reached during bidding, the auctioneer will privately ask the vendor if they will sell at a lower price. Passed in – if bids do not meet the vendor’s reserve price, the auctioneer will seek more bids. If bids still do not meet the reserve, the property may be 'passed in' or ‘withdrawn from auction’. The highest bidder then gets first right to negotiate with the seller. Fall of the hammer – towards the end of the auction, the auctioneer will call for any final bids. Once there are no more bids, the auctioneer will count down the ‘fall of the hammer’, which will signal the end of the auction. No bids can be made after the fall of the hammer and the highest bidder is legally obliged to sign and exchange contracts.





 

Duncan Schieb offers his real estate clients exceptional savvy and knowledge, leveraging his 20+ years of global experience in luxury marketing and sales. What also distinguishes him from the crowd is the fact that he’s the only professionally-trained real estate agent in New York that understands the luxury auction process in which he’s participated for many years. Duncan also owns a video production company that has been providing real estate marketing in New York for nearly a decade. This invaluable experience enables him to offer his clients innovative, well-thought-out marketing and sales solutions, to help them achieve maximum return.

Australian born and bred, Duncan’s journey began in a small cattle town about seven hours northwest of Sydney,
where as a 12-year-old he started calling live auctions for his father’s cattle trading and real estate company. With a true sense of “Australian Wanderlust,” and after studying Commerce at the University of Western Sydney, he went on to travel the world, living across Australia, in the UK, Hong Kong, and now in NYC. Duncan has owned and operated businesses throughout Australia and Hong Kong across all asset sale categories worked for an art auction house in the UK, has called over 15,000 auctions of all kinds, from real estate to fine art, jewelry, autos and antiques, and raised millions of dollars for various schools and charities. In addition to real estate sales, he currently operates numerous businesses in NYC that provide expert marketing, sales and consulting services to a discerning clientele.

 

Duncan conducts around 60-70 charity auctions a year around the tri-state raising millions of dollars for schools and worthy causes. All of his businesses donate 20% of profits back to charities of his clients’ choosing ensuring we all continue to assist others in local and the global community. 

A licensed real estate salesperson in New York and a licensed bonded auctioneer, Duncan owns real estate holdings in Australia and London. H
is personal investment expertise allows him to advise clients with complete integrity and no bias. “I work alongside my clients as if I were investing in the project or opportunity myself. My focus is on providing honest, reputable advice to earn their trust, rather than to merely make a sale.”

 

Duncan lives in Battery Park City with his wife and five children; Duncan assists with marketing and positioning auction-related properties across the United States and beyond. Traveling remains his passion when free time allows.

One World Trade Center, Suite 8500, NY, NY, 10007

© New York Auction Center 2018. All Rights Reserved.

Licensed Auctioneer New York State #2037334-DCA

Licensed Auction House Boss Hunting LLC  2076629-DCA

Licensed Real Estate Sales Person NYC #10401229866

NEW YORK AUCTION CENTER