Asset Management & Recovery: Sample Auction Marketing Profile - Receiver Sale, Columbus OH

Gryphon USA, Ltd services clients through Gryphon Asset Management, Gryphon Realty Advisors and Gryphon Auction Group. Gryphon Asset Management manages operating entities and undertakes liquidation management in numerous business lines. Gryphon Realty Advisors is comprised of three divisions all working together; Residential, Commercial and Management. Projects range from single family investments and owner occupant reresentation to apartments and commercial complex disposition. Gryphon Auction Group assists clients with the sale of real property as well as commercial equipment.

Sample Auction Marketing Profile - Receiver Sale, Columbus OH

This morning I was putting together a document to approve a sale in the Franklin County Courts.    Below outlines what an auction marketing effort for a small commercial building might look like here in Columbus.  This profile brought over 50 groups through 2 property inspection periods.  3 bidders registered and about 15 other individuals attended the sale.  This profile is for local marketing only.

The Receiver conducted considerable marketing efforts to bring about the sale including:

  1. Display advertising in the Daily Reporter for 15 days (in addition to legal ads)
  2. Legal Notices in Daily Reporter for 5 consecutive weeks.
  3. Display advertising in Business First on Oct. 27th, Nov. 3rd and Nov. 10th. The ads on the 27th and 10th were in the classified section and the ad on Nov. 3rd was upgraded to a display ad in the main body of the paper.
  4. Classified advertising in the Columbus Dispatch auction section on Oct. 29th, Nov. 5th and Nov. 12th.   Additional advertising ran in commercial real estate section of Dispatch on same dates directing readers to the auction ads.
  5. Display Advertising in the Suburban Newspaper (Worthington Addition) on October 25th, Nov. 1st and Nov. 8th.
  6. Full color direct mail piece sent to approximately 2000 Worthington area businesses.
  7. Online listings on Gryphonusa.com, the Columbus Multiple Listing Service (MLS) and Loopnet.com (commercial real estate listing service).
  8. 4 x 4 full color sign on High St.
  9. Email blasts advertisement sent to approximately 40,000 real estate agents/brokers, real estate attorneys, title agents, mortgage brokers, real estate investors and bankers on October 30, 2006 with copy again on November 13, 2006.
  10. Press release about the property and the auction sent via emailwire.com (circulation of over 70,000 journalists). Press release also sent to approximately 25 specific local business and real estate reporters.
  11. Two property inspection dates: Oct. 31st and Nov. 9th.  In addition, the property was open for inspection one hour before the auction.
  12. One on one conversations with representatives of Worthington Chamber of Commerce to identify specific user prospects.

 

Do you have questions about distressed assets, receivership or bankruptcy sales, auctions?  Email me at rfk@gryphonusa.com and I'll try to answer it in an upcoming post.

Richard F. Kruse is the President of Columbus, Ohio based Gryphon USA, Ltd. (www.gryphonusa.com).  The Gryphon Organization includes Gryphon Asset Management providing receivership and consulting services in the distressed marketplace, United Country Gryphon Realty & Auction Group (www.ucohiorealty.com & www.ucohioauctions.com) providing real estate brokerage and auction services throughout Ohio and OnlineAuctionUSA.com (www.onlineauctionusa.com) providing commercial asset liquidations from the Midwest to East Coast. 

United Country Gryphon Realty & Auction Career Opportunities Available.  Call 614-885-0020 x 17

2 comments • Rich Kruse • November 17 2006 07:07AM

Comments

Rich that's a lot of stuff. I just stick a sign in the ground and pray:)
Posted by Bryant Tutas-Tutas Towne Realty, Inc over 3 years ago
I don't have the same realtionship with the "Man" that you have.
Posted by Rich Kruse (Gryphon USA, Ltd.) over 3 years ago

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