How To Do An Online Auction


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How To Do An Online Auction

  1. 1. “ How to Do an Online Auction” for Members of the Kentucky Association of Educational Cooperatives
  2. 2. Table of Contents <ul><li>Who is Lone Star Auctioneers? </li></ul><ul><li>Some of Lone Star’s clients </li></ul><ul><li>What qualifies us to participate? </li></ul><ul><li>Is it expensive? When do we get paid? </li></ul><ul><li>Where do we begin? </li></ul><ul><li>How to create images of auction items </li></ul><ul><li>How to fill in the spreadsheet for an auction </li></ul><ul><li>What Lone Star will do to ensure the auction is a success </li></ul><ul><li>How to sign up for the online auction program </li></ul><ul><li>What is ? </li></ul>
  3. 3. Is a nationally recognized leader in the sale of surplus, seized, unclaimed and impounded assets for school districts and government agencies since 1984
  4. 4. Some of Lone Star’s Clients <ul><li>Texas Women’s University </li></ul><ul><li>City of Waco </li></ul><ul><li>U.S. Marshals Service National Jewelry Contract </li></ul><ul><li>Association of Educational Purchasing Agencies (AEPA) </li></ul><ul><li>University of Texas/Tyler </li></ul><ul><li>The Salvation Army </li></ul><ul><li>U.S. Secret Service </li></ul><ul><li>Peaster School District </li></ul><ul><li>U.S. Postal Inspection Service </li></ul><ul><li>Lewisville ISD </li></ul><ul><li>Texas A & M University System </li></ul><ul><li>Irving ISD </li></ul><ul><li>U.S. Department of the Treasury </li></ul><ul><li>Internal Revenue Service </li></ul><ul><li>U.S. Bankruptcy Courts </li></ul><ul><li>Goodwill Industries </li></ul><ul><li>Umatillo-Morrow ESD </li></ul><ul><li>Fort Worth ISD </li></ul><ul><li>Texas State Treasurer </li></ul><ul><li>City of Dallas </li></ul><ul><li>Texas State Hospital </li></ul><ul><li>Colorado State Treasury </li></ul><ul><li>Texas Parks and Wildlife </li></ul><ul><li>California State Controllers Office </li></ul><ul><li>San Angelo State School </li></ul><ul><li>Austin State Hospital </li></ul>
  5. 5. What Qualifies Us to Participate? <ul><li>… through a contract with Kentucky Association of Educational Cooperatives, then you are already authorized to purchase 24/7 online auction services </li></ul><ul><li>The contract was competitively bid on a national level </li></ul><ul><li>Lone Star Auctioneers was awarded the web-based auction service contract as the lowest priced, highest value bidder </li></ul><ul><li>As a member of KAEC you can sell your surplus, abandoned, unclaimed, or court-awarded assets through Lone Star’s online auction services </li></ul><ul><li>Furniture </li></ul><ul><li>Sport, health or technology catalogs </li></ul><ul><li>Portable and modular buildings </li></ul><ul><li>Food management software </li></ul><ul><li>Student transportation </li></ul><ul><li>Custodial, office or classroom supplies </li></ul><ul><li>Online training </li></ul><ul><li>Online professional development </li></ul>If you currently buy…
  6. 6. Is It Expensive? <ul><li>There is a $250 one-time startup fee for each seller </li></ul><ul><li>Lone Star deducts a 3% commission from the proceeds for all collected sales </li></ul><ul><li>There are no other fees to pay </li></ul>When Do We Get Paid? <ul><li>Within two banking days after the buyer payment deadline a cashiers check will be sent to you </li></ul><ul><li>We also will send complete, reconciled reports documenting the details of each item’s sales transactions and history </li></ul><ul><li>The documentation will provide a complete audit trail for your files </li></ul>
  7. 7. Bid “Goodbye!” to surplus liquidation headaches
  8. 8. How Do We Begin? <ul><li>Getting started is as simple as … </li></ul><ul><ul><li>Send in your $250 start-up fee </li></ul></ul><ul><ul><li>Select the items (lots) for auction. In the beginning, try to offer types of surplus which are more popular with the majority of buyers such as cars, pickups, tools and small equipment, computers, office furniture, etc. </li></ul></ul><ul><ul><li>Contact Paula Hooper at [email_address] to schedule your auction </li></ul></ul>
  9. 9. How to Create Images of Auction Items <ul><li>Take pictures of each lot </li></ul><ul><ul><li>maximum of four images for each lot </li></ul></ul><ul><ul><li>images should be 1000 x 750 pixels </li></ul></ul><ul><ul><li>landscape (horizontal) format </li></ul></ul><ul><ul><li>images should be named exactly as the lot ID number, with the addition of a letter to distinguish the different images for the same lot </li></ul></ul><ul><ul><ul><li>if there are four pictures for lot #1, they should be named 001.jpg, 001a.jpg, 001b.jpg, 001c.jpg. If there is only one image for lot #1, then the image name would be 001.jpg. </li></ul></ul></ul><ul><ul><li>save images to a CD and mail to Lone Star Auctioneers, Inc., or </li></ul></ul><ul><ul><li>save in a zip file and email or FTP to Lone Star </li></ul></ul><ul><li>Questions? Contact Kathi Clark at [email_address] </li></ul>
  10. 10. Image Samples <ul><li>Images should be named exactly as the lot ID number </li></ul>001.jpg 001a.jpg 001b.jpg 001c.jpg
  11. 11. <ul><li>Fill out the provided Microsoft Excel spreadsheet template with the specific lot information </li></ul><ul><li>Please use one spreadsheet for each auction </li></ul><ul><li>Identify each lot with a lot number </li></ul><ul><li>The title line of each lot is limited to 45 characters </li></ul><ul><li>Description length is unlimited, but please use only one cell for the entire description </li></ul><ul><ul><li>if there is more than one item in a lot, please use a semi-colon [ ; ] to separate items in a lot </li></ul></ul><ul><ul><li>do not use tabs or returns when entering data </li></ul></ul><ul><ul><li>do not use quotation marks </li></ul></ul><ul><li>Only use one row for each lot </li></ul><ul><li>Do not skip rows when entering data </li></ul><ul><li>Questions? Contact Kathi Clark at [email_address] </li></ul>How to Set Up the Spreadsheet For the Auction
  12. 12. Spreadsheet Sample <ul><li>Each lot number must be the same number of digits </li></ul><ul><li>If there are 100 lots, the first lot number must be 001, 002, etc. </li></ul><ul><li>Briefly describe the lot contents using 45 characters or less </li></ul><ul><li>For Vehicles use Make, Model, Year and Body Style </li></ul><ul><li>Enter long description of lot contents or vehicle condition here </li></ul><ul><li>Use as many words as necessary, but only enter it into one cell </li></ul><ul><li>If there are multiple items in a lot, use a semi-colon [ ; ] to separate </li></ul><ul><li>Do not use cells in additional rows for the same lot </li></ul><ul><li>Where the lots are physically located: street address, city/town, zip </li></ul><ul><li>If a vehicle does not have a title it will be taxable </li></ul>
  13. 13. What Lone Star Will Do to Ensure Our Auction Is a Success <ul><li>Create listing details and terms for auction (with seller input and approval) </li></ul><ul><li>Place advertising and send press releases to local, state and national newspapers, trade publications and media outlets as assets warrant </li></ul><ul><li>Contact known and prospective buyers of specific assets by email, U.S. mail and telephone </li></ul><ul><li>Send email blasts to 20,000+ buyers in Lone Star’s database on recurring basis </li></ul><ul><li>Submit all listings for seller review </li></ul><ul><li>Upload and proof complete listings with data and images </li></ul><ul><li>Launch and monitor auction, make changes as necessary </li></ul><ul><li>Close auction </li></ul><ul><li>Invoice and collect payment from buyers </li></ul><ul><li>Notify seller of successful buyers </li></ul><ul><li>Within two banking days after buyer’s payments have been received Lone Star will send seller a cashiers check for items purchased at auction </li></ul><ul><li>A complete, reconciled auction report will be sent to seller documenting the details of each sales transaction </li></ul>
  14. 14. Items Resold For School Districts SOLD Used Computer Equipment $660 Used Light Fixtures $205 SOLD Pile of Aggregate $16,500 SOLD 1996 Peterbuilt Truck/Trailer $129,600 SOLD 1983 School Bus $1,600 SOLD Lincoln Wire Welder $1,060 SOLD Storage Racks $810 SOLD 30 qt. Stainless Steel Mixer $855 SOLD
  15. 15. Sign up at or call Jayne Sullivan 800.275.3336
  16. 16. Auctions conducted through Under contract #AEPA 007-G/Online Auction Service
  17. 17. What is ? <ul><li>A link that will focus national and local interest on school district merchandise by forwarding buyers to the master webpage for all school districts’ 24/7 auctions </li></ul><ul><li>The webpage will be organized by state and Member Agencies so buyers can focus on their immediate geographic area </li></ul><ul><li>Buyers will be able to search for assets by school or district name, by state, or by asset category </li></ul><ul><li>Buyers will be able to search for assets in three clicks from the school or district’s website </li></ul><ul><li>By linking a district homepage to, each school and district will benefit from the homepage link of every other school and district </li></ul><ul><li>In addition to their own website, Lone Star Auctioneers owns so traffic from either site will be directed to school and district auctions </li></ul>