Introduction to Auction.com: The Asset Life Cycle: “Coming Soon"

[Jesse Vega]

The Auction Asset Life Cycle: “Coming Soon”

In this post I will discuss the asset lifecycle that properties on auction.com typically go through. Understanding where assets are in the life cycle will help you command more deals and better ROI.

Auction.com has 4 major life cycle stages. Each stage of the lifecycle determines the level of participation that you as a bidder have. With this information mind you can property inject yourself into the most beneficial part of the lifecycle giving you an upper hand over other bidders.

“Coming Soon”

Anyone that's interested in making their move into online auctioning should begin here. These properties have all the information needed for you to do your due diligence ahead of the auction date. Doing your homework is key when it comes to ensuring the ROI needed to become a successful investor. While this doesn't mean that you shouldn't keep your eye out for other deals that are on the website, preparing for future deals puts you ahead of the curve from the untrained bidder.

“Coming Soon” properties may or may not come with a starting bid. These properties may also not be new to the auction block, and could be a result of a failed bid. This however should not sway you from doing your due diligence on anything that may interest you. Remember in this class homework is free, so feel free to go do as much homework as you like. For the most part though, coming soon properties are generally new properties on auction.com. These are the properties that you want to keep your eye on, and will likely yield the best revenue. The early bird gets the worm.

I have plans in the works to further help the community understand how to utilize Auction.com to its full potential. For now, please keep in mind that you should favorite any properties that you might see as a potential investment for yourself in the future, by simply clicking the star icon on the upper right-hand side. This will add the asset to your dashboard where you’ll be able to monitor properties for sold status, current bid status, and if they were bounced back.