Tips for Buying Firearms at Auction

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Rifle and Handgun with Ammunition on Brown Backdrop

Auctions are a great way to get a good deal on all different types of things. You can buy everything from multi-acre properties to farm equipment to used cars and beyond. One of the more popular items that auction goers are often seeking? Firearms—yup, you can buy those at auction too!

Whether you’re looking for a special antique gun or just something new to take to the range, you can find firearms of all kind at consignment, estate, or dedicated gun auctions. Of course, just like buying anything else at this type of event, there are a few things you’ll want to be aware of if you’re planning to buy a firearm at an auction.

Don’t get distracted during the bidding.

When you’re sitting at an auction surrounded by competing buyers, it’s easy to get caught up in the atmosphere or overwhelmed with the choices being presented to you. Take a look at the inventory list the auction house will publish beforehand and narrow down the firearms that interest you. Keep your eye on these alone, so you don’t get swept up and spend more than you planned for or go home with the wrong gun.

Be prepared to follow federal and state regulations.

Some people hold the misconception that auctions are where shady figures go to buy guns illegally. Obviously, this is not true, as all legitimate auctions are subject to normal state regulations and federal laws for selling firearms. Mostly, this just means you have to be of age—18 and older to purchase a long gun and 21 and older to purchase a handgun. If your state requires a license to purchase a gun, you will have to present yours to the auction company. Most auction houses will also require a background check.

Inspect the gun you’re interested in ahead of the auction.

Before auction day rolls around, conduct a detailed inspection of any guns you may or plan to bid on. It is best to do this in person, so you can see if the gun is a good fit for you and inspect its condition closely. Typically, auctions will have a preview period during which you can do this ahead of time. This will be helpful for you to research the value of the firearm and determine what your bidding limit will be.

At Smith & Co Auction & Realty, we are constantly holding auctions filled with high-value items that you have the opportunity to get for a steal. Along with our regular land, real estate, and industrial equipment auctions, we often have consignment or estate auctions that include a long list of firearms in excellent shape.

To stay up to date on our upcoming auctions, check in on our website or contact our team today!

4 Great Reasons to Buy Used Farm Equipment

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Tractor Plowing Scenic Farm Field in Woodward, OK

When it comes to bigger purchases, buying new versus used is always a top consideration. Farmers are a category of professionals who often face this dilemma.

The costs of farm machinery add up quickly and can break the bank before you know it, but some farmers are still hesitant to buy used and risk sacrificing quality or efficiency. Let’s take a look at a few reasons why buying used farming equipment is often the superior choice!

1) Cut startup costs.

For farmers who are just starting out, there are a lot of expenses you’ll need to cover to get your operation going. Used farm machinery is an excellent solution for saving on startup costs while still getting all of the basic equipment you need to get off the ground.

2) Keep spare machines on hand.

Every farmer knows there are a few key pieces of equipment that they wouldn’t be able to function without. If that vital machinery malfunctions, is damaged, or is offline for scheduled maintenance, you’re losing valuable time and profits until it’s fixed or you’ve secured a new one. Having used backup equipment on hand, at least for your major pieces, is a cost-effective solution for preventing that and providing extra security for your business.

3) It’s easy to determine if you’ll get your money’s worth.

The lifespan of farm machinery is easily gauged based on its current condition and the number of hours logged on it. This allows experienced farmers to accurately identify which used pieces are worth their cost. You’re not taking the same gamble you do when you buy other used items, such as a car.

4) Expand your operation.

Many farmers have come across the issue that because farm equipment is so expensive, some crops are not worth the production versus yield costs. Used machinery offers a more affordable option if you’re interested in more seasonal or niche harvests. This way, you can pursue other avenues of interest and profit without losing money on a brand-new machine you only use a few weeks or months out of the year.

If you’re a farmer in the Northwest Oklahoma or Kansas area, you can find premier used farm equipment, farmland, and more at one of Smith & Co Auction & Realty’s live or online auctions! When you buy your used farm machinery at auction, you get a say in the final price and will know you’re getting your equipment at true market value.

Head over to our website to be on the lookout for the equipment you need and stay up-to-date on our upcoming auctions!

Why You’ll Love to Live in Oklahoma

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Real Estate and Auction Company in Woodward, OK

Unless you grew up here, Oklahoma is not typically one of the first locations people think of when they consider a move. But as a company of employees that have lived and worked in Oklahoma for several decades, Smith & Co can tell you confidently that this wonderful state has a lot more to offer than you might think.

If you’re looking for a new job, new home, new scenery, or just a new adventure, here are a few reasons to consider Oklahoma for your next destination!

Low cost of living

The cost of housing, food, utilities, and transportation in Oklahoma are all lower than the national average by quite a bit. The median price for a house in Oklahoma is about half that of the national average, and renting costs are among the lowest third of states. The amount of local food production and manufacturing helps keep costs low as well.

Constant growth

Oklahoma has been growing financially, culturally, and in infrastructure consistently for many years. The local economy is strong—it was one of the first to bounce back from the recession—and small businesses and job seekers often find success here. We also have a thriving nightlife, rich and innovative art and culture scene, and progressive infrastructure development.

Fast commute

Residents of big cities such as New York or LA often name the traffic as one of the biggest disadvantages of living there. In Oklahoma, you can enjoy live in a mid-big city living without the hassle of impossible transportation. Our bigger cities, like Oklahoma City and Tulsa, have some of the shortest commute times of all major U.S cities. This is thanks to our well-developed infrastructure and public transit system.

Desirable climate

In Oklahoma, you can enjoy the best of all four seasons. With a gorgeous spring, summer, winter, and fall, there’s a good balance of weather and a lot you can do in terms of outdoor recreation. Our diverse landscape and natural terrain make for some fun adventures like hiking, ziplining, river rafting, and more.

If you’re interested in discovering just how incredible life in Oklahoma is firsthand, Smith & Co Auction & Realty can help you find the perfect house to call home! Our licensed real estate professionals will be happy to get you set up with a property in Woodward or surrounding areas that fits your needs. You may even find your next home at one of our upcoming auctions.

Contact us today for more information about our real estate and auction services!

4 Red Flags to Watch for that Signal an Auction is a Scam

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Auction Company in Woodward, OK

Auctions are great for people who want to sell their items, house, or land quickly, and buyers looking for a bargain. Unfortunately, there are others who will prey upon your interest in these benefits and run a scam auction, for both live and online events. These scams may include overpricing items or selling items the auctioneer doesn’t actually have available. They often get your attention with flashy ads or deals that seem too good to be true.

So, how you can tell if an auction you’re interested in or attending is legitimate or a sham? Here are a few of the biggest red flags to keep your eye out for!

1) No Accreditation

A legitimate auctioneer/auction company should have professional industry affiliations that show they’re serious. Look for memberships to the National Auctioneers Association (NAA), state auctioneers associations, and other relevant groups. You should be able to find this information on their website, or you can ask if you’re unsure.

2) No Experience

Before you head to an auction, take a few minutes to look up the company. They should have a record available of past auctions they’ve held and/or future auctions they have planned. Proven auction experience indicates a company is professional, that they have made valid sales in the past, and that they can put on a successful event.

3) No Permanent Address

If an auction is being held in a temporary location, such as a hotel or similar venue, there’s a good chance they’re running a traveling auction scam. Or, if they are held in a venue like this, they should have another permanent address and contact information listed readily. Remember—you don’t want to buy from someone you won’t be able to find again if there’s a problem

4) No Crowd

A proper auction company will have a vast network of resources and put in maximum effort to market their events, on behalf of themselves and their sellers. Keep in mind that many auction attendees are actually other dealers, so they’ll know which events are legitimate and which ones to stay away from. A sparse crowd could signal a dubious auction that’s baiting newcomers.

Smith & Co Auction & Realty has been providing professional auction services throughout Northwest Oklahoma and Kansas since 1987. With our decades of experience, as well as our NAA and Oklahoma State Auctioneers Association memberships, you can rest assured that you’ll only have the highest quality buying or selling experience with us.

View our upcoming auction schedule online or contact us today with any questions!

Preparing for Your Summer Open House

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Real Estate Agent in Northwest OK

Summer is a great time to be in the real estate market. The weather is beautiful and the days are long, which means plenty of interested buyers are willing to attend showings and open houses. Buyers are also extra motivated this time of year, since most want to close on a place before school starts or the colder weather sets in.

Like any other season, there are certain measures you should be taking in summer to make your house appealing to the most buyers. When it comes time to prep for your summer open house, here are a few tricks to help you put on a fun, welcoming, and profitable showing!

Keep your house cool and comfortable.

Prospective buyers aren’t going to want to spend time in a hot and muggy house, and when you’re selling you want them to spend as much time falling in love with your space as possible. Make sure your house offers a cool reprieve from the summer heat by turning on fans and AC a few hours before buyers arrive. A good temperature to aim for is about 70 degrees.

Put emphasis on outdoor living spaces.

At this time of year when the sun is shining and temperatures are high, buyers will be looking for houses that offer a comfortable place to spend time outside. Appeal to this desire by highlighting areas of your home where they can enjoy the outdoors. Focus on spaces like the backyard, patio, pool, and front porch, if you have any. Just be sure to provide some shade in these areas, so buyers don’t get scorched.

Offer refreshments.

A cool bottle of water and a plate of tasty cold fruit will go a long way when it comes to making a good impression on buyers who are coming in from being in the summer sun. Set up a table or directly offer simple refreshments like water, iced tea, juice, popsicles for kids, and other cold snacks for guests of your open house. It’ll be a nice welcoming touch to make your place feel like home, as well as encourage prospective buyers to linger for longer.

The best way to ensure your open house and summer home sale are a success is to work with an experienced local real estate agency. In Northwest Oklahoma and Kansas, Smith & Co Auction & Realty is the agency you need. We’ll help you sell your home for top dollar, so all you have to worry about is getting your new place ready for that end-of-summer party.

Contact us today to discuss the details of your home sale!

3 of The Biggest Mistakes Bidders Make at Auctions

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Upcoming Auctions near Woodward, OK

Going to an auction to battle for a property or an item you have your eye on can be intimidating. You might be scared to overbid and waste money, underbid and miss out, or even speak up and place your bid in the first place. But when you finally hear the auctioneer say “sold!” on your bid and walk away with what you came for, it’s a truly thrilling and satisfying experience.

To improve your chances of being the winning bidder, there are a few rookie mistakes you’ll want to avoid. Let’s go over what those top missteps are, so you can go into your next auction feeling fully prepared!

Mistake #1: Showing up unprepared.

If you want to succeed at an auction, you need to have a strategy, do prior research on the items you’re interested in, and establish your budget ahead of time. Without taking these steps to prepare, you’ll be more easily swayed by the auctioneer, other bidders, and your emotions. The most likely outcomes? You’ll either miss out on a great buy, overpay and waste your money, or end up legally obligated to buy something you can’t afford.

Mistake #2: Bidding too small.

Most bidders are afraid of wasting money with big, aggressive bids. But if you want to have a fighting chance at an auction, you have to be bold! Competitors won’t take small bids seriously or be scared off by small increments. In fact, upping your bids little by little will actually encourage others to keep bidding because they think you’re hesitating and can be scared off. Then, if you do win, you’ll probably end up paying a higher final price because you drove up the competition.

Mistake #3: Not bidding at all.

Taking a “wait and see” approach at an auction just puts more pressure on you in the long run. As others grow more confident in their bids, you’re more likely to hesitate and stay quiet than swoop in for the steal at the end. Bidding early and consistently shows that you’re confident and ready to spend, which helps fend off other challengers.

Are you ready to test your bidding skills? Check out one of the upcoming auctions from Smith & Co Auction & Realty! We’ve got some incredible properties, farm equipment, and household items going up for auction that could be the perfect reward for all of your preparation.

View all of the details of our upcoming auctions on our website today!

Don’t Miss This Incredible 8,500-Acre Ranch Land for Sale in Elk City, Oklahoma!

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Finding the perfect ranch to turn into your home and launch your farming business is no easy feat, especially when you’re dreaming big. The good news for those who are searching for the right property in Oklahoma is that you’re in a state that’s ripe with valuable land waiting to be transformed. The even better news? Smith & Co Auction & Realty has a stunning ranch property for sale near Elk City!

The expansive A-Cross Ranch for sale in Roger Mills County includes 8,500 +/- acres of native and improved grasses and crop land.

Ranch for Sale in Roger Mills County, OK

900 +/- acres of impressive crop land offer prime opportunities for cultivating wheat and alfalfa. The remaining acreage consists of grasses that serve as an ideal pasture for livestock and excellent land for hunting. Located throughout the grass areas are several ponds and streams, including Kiowa Creek and Washita River, that provide an excellent water supply for irrigation. These bodies of water are also thriving wildlife habitats that make this property advantageous for hunting and fishing as well.

The A-Cross Ranch is located in Hammon, OK, just 17 miles north of Elk City. You will have easy access to a paved highway, making it a convenient location for business as well as residence.

Other Land Features of the Ranch for Sale

This large ranch property is already conveniently equipped with functional circle irrigation systems along the Washita River. You’ll also enjoy access to diesel-powered irrigation wells that provide water for the alfalfa crop, allowing you to supply good-quality hay to your animal herds. Steel corrals are already set up on the pasture as well, making it even easier for you to get started with your livestock operation.

The sale of the ranch also includes water rights to all of the water resources on your land—giving you even more bang for your buck!

Along with highly valuable acreage and resources, this Elk City ranch comes equipped with several beautiful structures for living and farm production.

The gorgeous area of the property located on Kiowa Creek serves as the Ranch Headquarters. You can enter Headquarters through the paved front entrance, marked by an illustrious archway, or a more direct gated south entrance. Once you’ve entered the area, you will arrive at four remarkable homes, which include:

Ranch for Sale near Elk City, OK
  • 5,000 +/- square foot brick home with a swimming pool, constructed in 1988
  • 3,000 +/- square foot brick home, constructed in 1994
  • 2,409 +/- square foot home, constructed in 1992
  • 992 +/- square foot home, constructed in 2007

These homes have a classic ranch feel with plenty of open space, hardwood, and unique character. You’ll notice the idyllic ambience of warmth and comfort as soon as you walk through the doors.

Near the Ranch Headquarters, you’ll also find a comprehensive, ready-to-use cattle processing facility.

Large Ranch for Sale in Roger Mills County, OK

The facility includes a processing barn, steel pens, Quonset building, supply and equipment storage structure, and a shop and/or office building. Additionally, there is a 5,000 square foot insulated steel building that was constructed in 2004. Wired and built on concrete with a lean-to on the south side, this multi-functional structure can be used for a wide range of opportunities.

If you’re looking for a self-supporting and well-diversified property in a convenient location, contact Ira Smith at Smith & Co Auction & Realty for more information about the A-Cross Ranch in Roger Mills County. You can also check out our online listing to learn more about the ranch, view a photo gallery, access detailed maps, and see an aerial video of the property!

As an Oklahoma farm native with over 30 years of local real estate experience, no one is more qualified or passionate about helping you find the perfect property for your farm and ranch operation than Ira.

Call Ira Smith at 580-334-6001 today to inquire about the sale of this amazing Oklahoma ranch and the many opportunities that come with it!

The Advantages of Selling Your Property in the Spring

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Real Estate Agent in Woodward, OK

Spring is a special time of year. The birds start to come out, flowers begin to bloom, and we gain an extra hour to enjoy the increasing amounts of sunshine. In the real estate world though, spring brings more than just chirping birds and colorful flowers. The season of growth also brings a rush of buyers and sellers to the market!

In fact, spring is typically considered the busiest season in real estate, making it one of the best times to list your property. How can you benefit from a spring sale? Let’s take a look!

The demand to buy is high.

After a long and dreary winter cooped up inside, buyers are eager to get out and start house hunting by the time spring rolls around. The longer days and warm, fresh weather are the perfect combination to energize hopeful homeowners and sustain them through their search. Not to mention, many of them have tax refunds and holiday bonuses still burning a hole in their wallets, making them feel even more prepared to take the plunge.

Buyers want to close quickly.

One of the reasons the real estate market typically sees a wave of buyers in the spring is because a majority of people want to close before summer gets too far underway. Not many buyers want to spend their summer touring property after property in the grueling heat, especially in the south or Midwest. They’d rather spend summer days getting settled and relaxing in their new home. This is particularly true for families, who want to get their kids acclimated before the new school year begins.

You’ll probably sell for more money.

As we’ve established, spring buyers are primarily fueled by the vitality of the season, as well as the desire to be moved in by the end of summer. These two factors will motivate interested parties to make an offer on a property they like quickly, fostering greater competition. The race to make a spring sale is, therefore, very likely to lead to a bidding war that drives up offers and gives you a good chance of walking away with more money than you would any other time of year.

If you’re looking to get in on the real estate market action this spring, get in touch with Smith & Co Auction & Realty! With over 60 years of combined experience selling properties in Northwest Oklahoma and Kansas, nobody is more qualified to sell your home or help you find a new one than our team of licensed real estate professionals.

Call us today at 580-254-3975 to discuss your sale with an agent!

Why You Should Consider A Business Liquidation Auction Instead of a Sale

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Auction Company in Woodward, OK

Whether you’ve decided to close for good, need some extra cash to help you through a tough time, or simply have excess equipment and inventory you’d like to get off your hands, liquidating your business assets can be a constructive solution for many companies.

When you need to recover your company assets, your first thought will probably be to have a liquidation sale. While this is certainly one option, you may find that a liquidation auction is more advantageous for your situation. Let’s take a look at how a business liquidation auction may be more beneficial for your company than a liquidation sale!

Sell your items quickly.

It can take several months, or even years, to recover the value of your business assets through a liquidation sale. If you’re closing your business or your company is struggling and you’re trying to liquidate to help offset debts, you don’t have time to search for buyers and review offers. If you choose to auction your items, on the other hand, your auction company will know how to price and market your assets to guarantee a bid and have them sold in a day.

Competition will drive up prices.

Auction companies implement widespread and effective marketing measures to generate a big crowd on auction day. They’ll use their extensive network to target the right audience and attract the buyers who are most likely to be interested in your items. Therefore, when you liquidate by auction, it fosters greater competition for your assets that often leads to a higher sale price.

Online auctions give your assets even more opportunity to sell.

Online auctioning tools, such as mobile apps, virtual bidding, and livestream auctions, open up your liquidation to the entire country or even world. Unless you’re prepared to do the work of marketing, reviewing offers, and arranging delivery to online buyers yourself, a liquidation sale does not afford you that same opportunity. Opening your auction to online bidders is another way to create competition to drive up the price. Plus, when you liquidate through an auction company, they’ll handle the details of marketing, sale, and delivery.

At Smith & Co Auction & Realty, we use a high-quality marketing program and our extensive mail list to get the best turnout and final price for sellers at every auction. If you’re liquidating your business assets, we can help auction your machinery, inventory, commercial building, and other capital to sell at or above market value.

Give us a call at 580-254-3975 to learn more about our live, online, and mobile auction services!

3 Things You Can Do to Sell Your Home Faster

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Real Estate Auction Company in Woodward, OK

A new job in a different city; unforeseen financial hardship; a new custom-built house that’s almost move-in ready; there are a lot of reasons you might find yourself in need of a quick home sale. The bad news is, selling a home is an intricate process, which means it can often be lengthy. The good news is, there are a few tricks you can use to streamline that process.

These are a few of the steps you can take if you need your house sold yesterday!

1) Pull out all the staging stops.

If you want a quick sale, your home’s best assets need to be front and center as soon as it hits the market. That means cleaning, decluttering, depersonalizing, and fixing small repairs. Your best bet is to hire a professional to stage your home for maximum market appeal. If you can’t swing it though, start reading up on your DIY tips and get to work!

2) Make sure the price is right.

Did you know that many of the properties that are sitting on the market, unmoving, at any given time all have the same thing in common? They’re overpriced! Work with your agent to price your home competitively. Settle on a number that motivates buyers to jump quickly, fearing they’ll lose out on a good deal.

3) Accommodate as many showings as possible.

The more people that see your property, the greater the chance of a sale in the near future. If you’re trying to sell your home fast, keep your schedule flexible. Try to accommodate every interested buyer, even for last-minute showings if you have to. When you ask someone to request a new time or rearrange their own schedule, they’re more likely to simply pass and move onto the next property that’s just like yours.

For sellers in Woodward, Oklahoma looking to get a property off their hands sooner rather than later, Smith & Co. Auction & Realty is here to help. When you list your home in one of our real estate auctions, you’ll close your sale in a single afternoon and are guaranteed to walk away with the market value or, more likely, even more.

Contact our team today to discuss auctioning off your home with an experienced agent!