CNN: Bad Economy 'Silver Lining' for Auctioneers

For bargain hunters & auctioneers, hard times are sending a lot of business their way.

While the recession is a giant cloud hanging above American businesses and consumers, there are still winners in the losing economy. Among them are auctioneers and their bargain-hunting bidders. So proclaimed CNN Money on Friday.

In a piece titled "Auctions Win Big in a Losing Economy," the benefits to the various stakeholders who make up the auction space were outlined. To Wit:

The buyers -

For shoppers, the auction is like walking into a post-Holiday sale where prices are discounted by 70% or more. (To find auctions in your neighborhood go to the auction calendar at auctioneers.org.)

The seller -

"I feel I've been blessed by helping out the people in need that are looking to liquidate their inventory," said Herb Mauthner, owner of Mountain Auctioneers, Inc.

Mauthner moves hard-to-sell merchandise and helps companies close stores and even go out of business.

"We have definitely had a large increase in sales, and we have been contacted numerous times by various businesses that are looking for a way out," he said.

The liquidator -

Not so happy is Fabrics & Fabrics owner Joseph Smiri who is resigned to auctioning his inventory at below cost because business dried up in the past five months.

"You're going to lose a lot of money here," acknowledged Smiri. "Definitely, but you know, if you stay in the business and the business is not there, you're going to lose more."

The entire piece is worth a read.

For ANOTHER take on this, check out a piece titled "Auctions Thrive in Wake of Bad Economy" from Albuquerque's KOAT.com. The kicker reads "Shopper's Thrifty Budget's Satisfied." Another story worth your attention.