How to Do an Online Auction

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How to Do an Online Auction
for Members of the Kentucky Association of
Educational Cooperatives
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Table of Contents

• Who is Lone Star Auctioneers?
• Some of Lone Stars clients
• What qualifies us to participate?
• Is it expensive? When do we get paid?
• Where do we begin?
• How to create images of auction items
• How to fill in the spreadsheet for an auction
• What Lone Star will do to ensure the auction is a
  success
• How to sign up for the online auction program
• What is PublicSchoolSurplus.org ?

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Is a nationally recognized leader in the sale of
surplus, seized, unclaimed and impounded assets
for school districts and government agencies
since 1984
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Some of Lone Stars Clients
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What Qualifies Us to Participate?

• through a contract with Kentucky Association of
  Educational Cooperatives, then you are already
  authorized to purchase 24/7 online auction
  services
• The contract was competitively bid on a national
  level
• Lone Star Auctioneers was awarded the web-based
  auction service contract as the lowest priced,
  highest value bidder
• As a member of KAEC you can sell your surplus,
  abandoned, unclaimed, or court-awarded assets
  through Lone Stars online auction services

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Is It Expensive?

• There is a 250 one-time startup fee for each
  seller
• Lone Star deducts a 3 commission from the
  proceeds for all collected sales
• There are no other fees to pay

When Do We Get Paid?

• Within two banking days after the buyer payment
  deadline a cashiers check will be sent to you
• We also will send complete, reconciled reports
  documenting the details of each items sales
  transactions and history
• The documentation will provide a complete audit
  trail for your files

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Bid Goodbye! to surplus liquidation headaches
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How Do We Begin?

• Getting started is as simple as
• Send in your 250 start-up fee
• 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.
• Contact Paula Hooper at paula_at_lonestarauctioneers.
  com to schedule your auction

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How to Create Images of Auction Items

• Take pictures of each lot
• maximum of four images for each lot
• images should be 1000 x 750 pixels
• landscape (horizontal) format
• 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
  
• 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.
• save images to a CD and mail to Lone Star
  Auctioneers, Inc., or
• save in a zip file and email or FTP to Lone Star
• Questions? Contact Kathi Clark at
  kathi_at_lonestarauctioneers.com

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Image Samples

• Images should be named exactly as the lot ID
  number

001.jpg
001a.jpg
001b.jpg
001c.jpg
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How to Set Up the Spreadsheet For the Auction

• Fill out the provided Microsoft Excel spreadsheet
  template with the specific lot information
• Please use one spreadsheet for each auction
• Identify each lot with a lot number
• The title line of each lot is limited to 45
  characters
• Description length is unlimited, but please use
  only one cell for the entire description
• if there is more than one item in a lot, please
  use a semi-colon to separate items in a lot
• do not use tabs or returns when entering data
• do not use quotation marks
• Only use one row for each lot
• Do not skip rows when entering data
• Questions? Contact Kathi Clark at
  kathi_at_lonestarauctioneers.com

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Spreadsheet Sample
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What Lone Star Will Do to Ensure Our Auction Is a
Success

• Create listing details and terms for auction
  (with seller input and approval)
• Place advertising and send press releases to
  local, state and national newspapers, trade
  publications and media outlets as assets warrant
• Contact known and prospective buyers of specific
  assets by email, U.S. mail and telephone
• Send email blasts to 20,000 buyers in Lone
  Stars database on recurring basis
• Submit all listings for seller review
• Upload and proof complete listings with data and
  images
• Launch and monitor auction, make changes as
  necessary
• Close auction
• Invoice and collect payment from buyers
• Notify seller of successful buyers
• Within two banking days after buyers payments
  have been received Lone Star will send seller a
  cashiers check for items purchased at auction
• A complete, reconciled auction report will be
  sent to seller documenting the details of each
  sales transaction

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Items Resold For School Districts
SOLD
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Sign up at PublicSchoolSurplus.org or call Jayne
Sullivan 800.275.3336
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Auctions conducted through PublicSchoolSurplus.org
Under contract
AEPA 007-G/Online Auction
Service
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What is PublicSchoolSurplus.org ?

• 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
• The webpage will be organized by state and Member
  Agencies so buyers can focus on their immediate
  geographic area
• Buyers will be able to search for assets by
  school or district name, by state, or by asset
  category
• Buyers will be able to search for assets in three
  clicks from the school or districts website
• By linking a district homepage to
  PublicSchoolSurplus.org, each school and district
  will benefit from the homepage link of every
  other school and district
• In addition to their own website, Lone Star
  Auctioneers owns PublicSchoolSurplus.org so
  traffic from either site will be directed to
  school and district auctions