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The Recession and Auction Businesses

April 9, 2014

The auction business has always been viewed as somewhat recession proof. When times are good, companies need to sell off old equipment to make room for the new. And when times are bad, companies need to sell off old equipment to pay the bills. But in this long-lasting recession and slow recovery, some auctioneers have noticed that this old rule doesn’t necessarily hold true. Struggling businesses still want to sell their equipment, but other struggling businesses don’t have the money to buy it or don’t have the need for it.

A lot of NEBBI members are auctioneers who have found that a CMEA certification does a lot to help their business. So we want to hear from our auctioneer members who also hold a CMEA certification. How has the recession affected your business? Have you noticed fewer people buying? Or has it been business as usual?

TheNEBB Institute endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery/equipment appraisal and brokerage.

By:NEBB Institute

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