WIEGMANN AUCTIONEERS Appraiser & Auctioneer
CELEBRATING 60+ YEARS…AND GOING STRONG!
260-447-4311 812 E. Paulding Rd., Fort Wayne IN 46816
When Walt Wiegmann obtained his Indiana Auctioneers license in 1945, little did he know how the business would eventually expand to what it is today!
Walt and his wife Barb worked out of their home when they first started, a farm house. You see, the Wiegmanns were farmers and Walter also drove a school bus.
The industrious couple soon had to add family members & staff to help with their growing auction business.
In 1958 (50 years ago) the Wiegmanns opened an office on Fairfield Avenue in Fort Wayne. Of course work was still being done from home too, as anyone who ever owned their own business will tell you.
In 1945 and thru the 50’s the auction business was mostly focused on a rural market. Farm ground, homes, farm animals and equipment were frequently sold at auction. Advertising was often times word of mouth as well as signs & typed “flyers”. In good times or bad times, the rural community knew that it could get the best price for everything, from the family farm, to the pots & pans with a Wiegmann auction.
Estate sales became more frequent as the “younger” generation moved away from the family farm and into the city. liquidating the assets left them by their country ancestors.
Local bankers and attorneys know that they can rely on Wiegmann to help their clients when they need to make life changes. The owners and staff of Wiegmann Auctioneers are not only knowledgeable but sensitive to the process of selling one’s real estate & personal property.
In 1988 Walter’s son Ron officially joined the family business and has since taken over. Ron’s wife Debbie and auctioneer son Chad are an integral part of the day to day success of this 3 generation family business. On auction day, you will also see other family members working at various duties.
Helping their clients since 1945 receive top dollar for property in town, at the lake or on the farm. No one beats Wiegmann Auctioneers for success and reliability.
UNDERSTANDING THE TWO TYPES OF AUCTIONS FOR YOUR REAL ESTATE
Absolute Auction (or auction without reserve)
1. The property is sold to the highest bidder, regardless of the price.
2. Since a sale is guaranteed, buyer excitement and participation are heightened.
3. Generates maximum response from the market place.
4. Many sellers, including financial institutions and government agencies have begun to use this method more frequently.
Reserve Auction (an auction subject to Confirmation)
In this scenario, the high bid is reduced, in effect to an offer not a sale. A minimum bid is not published, and the seller reserves the right to accept or reject the highest bid within a specified time – anywhere from immediately following the auction up to 72 hours after the auction concludes. Sellers predetermine the price at which the property will be sold and are not obligated to confirm a sale other than at a price that is entirely acceptable to them. The main disadvantage of a Reserve Auction is that prospective buyers may not invest the time and expense of due diligence when there is no certainty they will be able to buy the property even if they are the highest bidder.