3 Reasons to Consider Selling Your Mineral Rights

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Land and Mineral Auctions in Woodward, OK

Owning mineral rights can be tricky. On the one hand, sitting on valuable natural resources, such as natural gas or oil, can be a huge potential for income. On the other, it’s not an asset that’s directly in your control unless you plan on drilling yourself.

You may be hesitant to let go of your mineral rights, holding onto the possibility of a big payoff in the future or over time. But more than likely, you stand to benefit more from selling than you do leasing or sitting on them.

Here are a few reasons you should consider selling your mineral rights:

1) Guaranteed profit

Holding out for someone to lease your mineral rights puts you at the mercy of both the company you lease to and the fluctuating market value of your resources. Because you don’t know exactly what and how much you’ll find under your land, when it will be found, or how much it will be worth when it is, its long-term value is not certain. If you sell your minerals outright though, you’re guaranteed to profit no matter what lies beneath.

2) Receive payment all at once

Selling your mineral rights leaves you with one large sum upfront, versus smaller royalties that would be dispersed over time. Having that much cash value on hand opens up a lot more opportunity than a few small payments a year. You’re also likely to receive more money for your minerals when you sell upfront, as their value—and your royalties—will be constantly in flux. Plus, you’ll eliminate the hassle of keeping track of your interests and royalty payments.

3) Ease your tax burden

Most states impose taxes on mineral rights as well as the royalties you earn from them. That tax is on top of the county and federal taxes you’ll also be required to pay each year. Additionally, since your royalty income is not predictable, your taxes owed at year’s end won’t be either. After all is said and done, depending on the market, these taxes might not even make mineral ownership worth it. You’re better of selling and making a one-time tax payment, rather than holding onto them and suffering the yearly expense.

When you decide the time is right to sell your mineral rights, get in touch with Smith & Co Auction & Realty. With our extensive mailing list and targeted marketing outreach, we’ll sell your mineral rights at auction for top dollar and have your profit guaranteed in a single afternoon.

Give us a call at 580-254-3975 so we can set you up for a lucrative auction!

Home Staging Tips to Get Your House Ready to Sell

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Real Estate Agency & Auction Company in Woodward, OK

If you want your home to sell quickly and for the highest value, your first step is to nail the presentation. That’s what the concept of home staging is all about—setting the stage to draw in prospective buyers and convince them your property is the one they’re looking for. This is especially important if you’ve decided to auction your home and have only a short window of time to persuade them to make a competitive offer.

Check out these fundamental home staging strategies and use them to put your house’s best foot forward on the market or auction block!

Cut the clutter.

Buyers and bidders looking at your home need to be able to see as much usable space as possible. Help them out by doing a purge of every room, dividing items into ones that can be trashed, donated or sold (maybe even at your auction!), and the ones you’re keeping. Any items in the keep pile that you don’t need immediately can be moved to offsite storage. After you’ve decluttered, hire a professional cleaner or start scrubbing yourself until every inch of your newly organized space sparkles.

Paint your walls neutral.

The goal is to make your property appeal to the widest range of buyers possible. You need to create a space where anyone can envision implementing their own style and making it feel like home. The best way to do that? Neutral colored walls that can serve as a backdrop for any vision. Plus, a fresh coat of paint will give your home a crisp, updated look.

Use furniture and décor to make your house feel like a home.

A prospective buyer should walk into your house, feel welcomed, and see the lifestyle potential of your space. If they walk in to find vacant, lifeless rooms, it’s going to be difficult for them to connect. The right furniture and décor will help them make that connection. Here are a few things to keep in mind as you arrange your furnishings:

  • Don’t overdo it—all you need is one main piece to define the room (couch, bed, dining table), two or three supporting pieces, and a few accents to add a little personality and warmth
  • Arrange furniture to highlight the best features of each room (a fireplace, bay window, archway, etc.)
  • Depersonalize—it shouldn’t feel like your home
  • Keep your style cohesive to help the space flow
  • Let in plenty of natural light and supplement with artificial where necessary

At Smith & Co. Auction & Realty, we work with our clients to ensure their properties are fully ready for the local market before an auction or sale. Our agents know what buyers in Woodward are looking for and will use that knowledge to help prepare the best version of your home possible.

Contact us today to learn more about how we can help secure you a lucrative home sale!

4 Steps to Prepare for Auctioning Your Farm Equipment

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Farm Equipment Auctions in Woodward, OK

When you’ve decided to invest in new farm equipment or liquidate your farm altogether, an auction is one of the most efficient ways to sell your old machinery. Farm auctions attract a wide pool of potential buyers to compete for your items, driving up the price and getting them off your hands in a single afternoon.

Although your auction company will take care of most of the preparation when you choose to auction off your farm equipment, there are still a few measures you should take ahead of time to ensure you walk away with the best value for your pieces!

1) Choose the right auction company.

If you want to get the most money for your equipment, you need to partner with the best company for the job. Do some research into auctioneers in your area, looking for those who have experience in farm auctions specifically. Choose someone with an extensive local network, good reputation, and the marketing plan and resources necessary to get you top dollar.

2) Complete quick fixes.

Minor issues with your farm equipment can drive the price down significantly at auction. Taking care of these simple repairs and touchups before you sell will likely pay for itself twice over! Replacing broken lightbulbs, new sparkplugs, a fresh paint job, and even just a good cleaning can make a world of difference in the final price.

3) Have your equipment appraised.

Once it’s in the condition in which you plan on selling it, have a professional evaluate what your equipment is worth. If you’re working with an auction company that specializes in farm equipment, they may be able to do this for you or set you up with a good appraiser. Having your equipment appraised is a good way to ensure you’re getting what it’s worth and will help you go into your auction with realistic expectations.

4) Photograph your items.

Having quality photos of your farm equipment for marketing materials will improve your advertising efforts significantly. Pictures of your equipment online, on flyers, in brochures, etc. will help generate interest for the auction, so more people attend and bid. The more competition you get, the higher the final price tag is likely to be. Make sure you’re photographing your pieces in good lighting, against a clean background, and at a variety of different angles for the best presentation possible.

Did you know that Smith & Co. Auctions & Realty holds over 100 auctions every year that attract thousands of potential buyers from our extensive mailing list?

Our experienced professionals specialize in selling real estate, farm land, and farm equipment throughout Woodward, OK, and surrounding areas. With our wide-reaching network, resources, and know-how, we guarantee we’ll be able to sell your farm equipment quickly and for the right price.

Contact our team today to learn more about how we can help you sell!

Why Land is Actually a Smart Investment

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Land Auctions in Woodward, OK

Buying vacant land is not usually the first strategy that comes to mind when you’re trying to break into the real estate investment game. Many people actually believe that buying land is pointless, since there’s no readily apparent way to turn it into a profit.

If you dig a little deeper into the realities and possibilities of land investment though, you’ll see that it can actually be one of the smartest real estate moves to make!

There are A LOT of ways to use vacant land.

One of the major differences between buying a house or building and buying vacant land is that you need to use a little more of your imagination to see the potential. Owning land offers plenty of opportunities for generating income or making use of it yourself! You could, for example:

  • Build a house to live in or rent
  • Build a commercial building to work in or rent
  • Rent the land to someone else to build property or develop
  • Develop or rent as farmland
  • Use or rent for hunting

Land is an easy long-term investment.

Pretty much every aspect of land ownership is easy. There’s low competition to buy land, so you can get it quickly and at a good price. Once you have land, you don’t actually have to do anything with it if you don’t want to. Vacant land also requires very little maintenance, as is, which makes it inexpensive to own long-term. Plus, there are a lot of options to use it for profit that involve very little attention or work on your part.

Land does not depreciate in value.

A common risk in real estate investment is putting money into something you can’t make profitable or that loses value over time. Vacant land cannot be moved, destroyed, or otherwise damaged in any way that will affect its value. The worst-case scenario is that you don’t make or lose any money at all—think of it as just an alternative place to hold some of your assets. Land is also a finite resource, meaning the more limited it becomes, the greater value your investment will have.

Smith & Co Auction & Realty makes it easy for aspiring land investors to make their first or next move with our live and virtual land auctions! With our advanced real estate tools and knowledge of the local market, we can help any buyer find their dream property going up for sale or auction.

Contact us today for more information about our upcoming land auctions!

‘Grease’ Costumes to Be Auctioned for Cancer Research

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This iconic musical debuted in 1978 and became the highest-grossing musical film at that time. Grease is well known for its 1950’s style costumes and choregraphed dance numbers. Now, 41 years from its premiere, Olivia Newton-John’s classic looks will be up for auction the public. A portion of the proceeds from the auction will go directly to cancer research.   

Olivia Newton-John partnered with Austin health to create the Olivia Newton-John Cancer Wellness & Research Centre (ONJ Centre). The ONJ Center is dedicated to treating and researching many different types of cancer. The ONJ Centre offers a wide variety of treatment services and therapy for patients.

Olivia Newton-John was first diagnosed with breast cancer in 1992. This sparked her advocacy for cancer awareness and research.

The collection will feature over 200 costumes, gowns, accessories, and other personal items from the actress.

Her most highly anticipated pieces are her iconic leather jacket and tight black pants which she wore for her role as Sandy in Grease.

There will be a pre-auction exhibition displaying her pieces at the Museum of Style Icons. The Museum of Style Icons at the Newbridge Silverware Visitor Centre is located in Newbridge, Co. Kildare in Ireland. The exhibition will be on display from July 22nd until August 18th. The auction will then take place in November of 2019 in the US. The official auction will then take place in Beverly Hills and online on November 2.

Stay up-to-date F on upcoming auctions by frequently checking our blog at Smith & Co Auction & Realty. Smith & Co Auction & Realty has been serving Northwest Oklahoma and its surrounding areas for over 30 years. Our experienced staff can assist buyers and sellers throughout the auction process. Stay updated on new sales by visiting our auction page

900-Year-Old Chess Piece to be Auctioned in London

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lewis chessman models

Purchased for just a few dollars five decades earlier, this medieval chess piece is set to go on auction for over $1 million dollars.

This item was discovered when a Scottish family took the game piece to Sotheby’s, a British American company specializing in decorative art, real estate, and jewelry auctions.

Sotheby determined that this was no ordinary chess piece, but a part of a set of 93 pieces carved from walrus ivory. The set was first found in 1832 on the Isle of Lewis in Scotland’s Outer Hebrides. Of the original 93 pieces, 11 are housed at the National Museum of Scotland and 82 are in the British Museum in London.

This piece is a 3.5-inch figure of a bearded man wielding a sword. It is said that this is the equivalent to a rook in chess.

These chess pieces are estimated to be over 900 years old and originating from the Viking era.

Before it’s recent discovery, the Lewis Chessman was housed with an antique dealing family in Scotland. The piece was purchased by the family in 1965 for 6 dollars. It remained in their family for generations, until it was recently taken to be evaluated by Alex Kader, head of the European Sculpture and Works of Art Department at Sotheby’s.  The family admired the Chessman as a piece of history, although they did not know the true past of this piece. The grandson of the antique dealer was shocked to learn the real value of this item

The Chessman is set to go on auction on July 2nd– it is projected that the piece will make up to $1.3 million dollars.

For more exciting news on upcoming auctions, be sure to check Smith & Co Auction & Realty. Smith & Co Auction & Realty has been serving Northwest Oklahoma and its surrounding areas for over 30 years. Our experienced staff can assist buyers and sellers throughout the auction process. Stay updated on new sales by visiting our auction page

Apollo 11 Lunar Module Timeline Book to Go On Auction

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On July 20, 1969 Neil Armstrong and Edwin Aldrin became the first humans to land on the moon. The journey to space was a long road which is rooted in tensions between America and the Soviet Union called the Cold War. On October 4, 1957 the Soviets launched Sputnik, an intercontinental ballistic missile and the world’s first artificial satellite to be place into the Earth’s orbit. This furthered tensions between the Soviet Union and America. After the launch of Sputnik the U.S launched the Explorer I. Despite American efforts to lead the way in space exploration, the Soviet Union appeared to be one step ahead. The Soviets launched the first man into space in 1961. That same year president John F. Kennedy announced The Apollo 11 mission, which ultimately won the Space Race when Neil Armstrong walked on the moon.

The moon landing is a very important part of both world history and American history. This iconic mission sparked the beginning of a complete change in the way we view space.

Apollo 11 Lunar Module Timeline Book to Go On Auction

It has been 50 years since the very first man walked on the moon. Since that that time there have only been 11 other people to walk on the moon.

Now, half a century later, the historic Apollo 11 Lunar Module Timeline Book is set to go on auction. This book contains details of the complete Eagle voyage from inspection, undocking, lunar surface descent and ascent. It is also rumored to contain traces of lunar dust within the pages. The Apollo 11 Lunar Module Timeline Book will be on view at Christie’s in New York until May 15. It is set to go on auction July 18th.

Stay up-to-date on current auction details with Smith Co. Auction & Realty. For over 30 years Smith & Co. Auction Realty has been committed to providing exceptional service to exceed your auction needs. Be sure to check our blog for news regarding upcoming auctions and visit our Auction page to start bidding!

The Gun That Killed Vincent Van Gogh Is Up For Auction

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Most famous for The Starry Night Vincent Van Gogh became a very influential figure in Western art. Although he was a very accomplished artist, he did not gain notoriety until his death in 1890. Van Gogh suffered from mental illness and died due to gunshot wounds from a  7mm pocket revolver.

In 1888, after a mental breakdown, Van Gogh mutilated himself by cutting off his own ear. After cutting off his ear things began to spiral out of control, and he was admitted to a mental institution. It was during his time in the mental institution where he created Starry Night and a number of other notable paintings.

Issues Surrounding His Death

There are some conflicting elements surrounding Van Gogh’s death which have led historians to question whether he committed suicide or was murdered. Some historians believe he did not commit suicide but, was shot by a group of teenage bullies. Van Gogh as shot in the midsection which isn’t typically a place that someone would shoot themselves. Van Gogh also had a letter in his pocket, at the time of his death, which was addressed to his brother. The letter was not a suicide note but a casual letter to send to a sibling.

This revolver was discovered in the 1960s in the northern French village of Auvers-sur-Oise, the same place he was shot. It is believed to be the gun that killed Van Gogh because it is the same caliber as the bullet that was retrieved from his body.

Auction Details

The gun is set to be put up for auction, by Paris auction house AuctionArt, this coming June 19th.

The revolver is projected to be auctioned at around 67,000 dollars.

For more information on upcoming auctions check the Smith & Co. Auction & Realty blog.

George Michael’s Art Collection Hit the Auction Block for Charity

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Art exists in many forms, and the colliding world of music and visual art creates something truly magical.

No one understood this quite like legendary singer George Michael, who spent much of his life supporting charities and talented up-and-coming visual artists.

The world may have lost the legendary George Michael back in 2016, but the singing sensation’s philanthropic work continues into this year with a special auction that featured works from his private art collection.

The auction raised $15 million

Auction house Christie’s had over 200 pieces from the private collection of the British singing phenomenon in an auction this month. With a dedication to supporting upcoming visual artists, Michael’s collection included works from artists that created the Young British Art (YBA) movement, such as Damien Hirst, Tracey Emin, Sarah Lucas, Michael Craig-Martin, and Marc Quinn.

With his collection, Michael supported young and emerging artistic talent, and this auction was meant to continue this work with the sale of these iconic creations.

Standout pieces from the collection

Key pieces in the auction included Tracey Emin’s “Drunk to the Bottom of My Soul,” a large applique blanket featuring poetry. Another sought-after piece was Damien Hirst’s “The Incomplete Truth” featuring formaldehyde-suspended animals and organs.

The proceeds from this auction will go towards continuing George Michael’s philanthropic work.

Check back on the Smith & Co. Auction & Realty blog for more auction updates and news! And when you’re ready to start bidding closer to home, we have plenty of upcoming auctions to try your hand at. Give us a call at 580-254-3975 to learn more!

Upcoming Real Estate Auction: High-End Executive Home in Woodward, Oklahoma for Sale

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Are you currently on the hunt for a high-end executive home? You may be sorting through a plethora of real estate listings, but if you’re ready to buy, perhaps a real estate auction is better suited for your search.

At Smith & Co. Auction & Realty Inc. we have a multi-parcel real estate auction coming up soon that might peak your interest!

A high-end luxury home in Woodward, OK is hitting the auction block on February 20, 2019.

Font View of Executive Home in Woodward OklahomaYour long days of searching will be left in the past once you see this elite executive home.

Learn more about the executive home and all its features below! Further auction details and a photo gallery of the home are available on our website.

Feel free to look around and call our team at 580-254-3975 with any questions you may have and we’ll see you on February 20th!

Features of the executive home for sale

Before you bid and then buy, here are the essentials to know about this executive home up for auction!

Luxury Kitchen in Executive HomeThis home was custom-built in 2008 on 4.83+ acres of land. The home offers a spacious living room and the kitchen has sleek granite counter tops, commercial appliances, a breakfast bar and more.

Now let us paint you a picture: you walk through the front door, the entryway greeting you with a wet bar with built-in cabinets made of solid wood.

You immediately feel relaxed and at home ready to head to the large master bedroom suite with a walk-in shower, designer bathtub, and several home accessories that do not disappoint.

From here, you’re able to walk through atrium doors to your own personal outdoor oasis to relax out on your covered patio.

Within the lower level of the home, you’ll find a large area housing another wet bar, a bathroom, and a traditional safe room.

Theater Room in Luxury HomeThe upper level features two bedrooms, two full bathrooms and a half bath.

For work, you’ll find a beautiful home office, but for play, you can take advantage of the theater room, presenting you with your feature presentation and comfortable theater seating for 12.

Would you believe us if we said there’s more?

Extra executive home amenities

Within the three levels of this luxury home, there are plenty of amenities to indulge in.

Enjoy looking out over your property from an atrium-like area located above the front entrance.

Outdoor Entertainment Area and Pool at Luxury HomeAnd with this property, you’ll never want to keep the party indoors.

There’s a wonderful outdoor entertaining area, from relaxing in the hot tub, to splashing around in the in-ground pool, heated to your liking and always sparkling.

There is also a fireside gazebo, perfect for entertaining guests or relaxing under the stars.

Storage space is no issue with this home; the 4,900 sq. ft. garage with multiple overhead doors and an upstairs should meet all of your storage requirements, housing your vehicles and large enough to accommodate a motor home.

An executive home in a prime location

One of the most important factors in choosing a high-end luxury home is the area where it’s located.

This high-end home is located just west of Woodward, OK offering potential buyers a spacious and beautiful area to live in. You can enjoy your privacy while also indulging in the suburban feel of Woodward County.

The opportunity to buy land around the property

This prime piece of real estate offers a beautiful executive home, yes, but there’s also the opportunity to purchase more land around the property.

There are technically 10 separate tracts available for purchase at this live on-site auction, each tract offering something different to our potential buyers. With Tract 1 housing the high-end luxury home, the multi-parcel method of sale will be implemented, giving the buyer a chance to take advantage of the additional 13 tracts available before anyone else.

Additional land for sale

Land for Sale in Woodward OklahomaOnce Tract 1 and it’s accompanying purchases are completed in a combination sale, the multiple tracts of land available in this location will hit the auction block.

Additional tracts range in what they have to offer to a bidder.

You’ll have the chance to purchase an acre of land with an already built, beautiful brick home, or five acres of land with a 1,162 sq. ft. mobile home.

If by chance you’re more interested in purchasing land to build upon yourself, there are many tracts that offer various acres of land and great building sites. We have tracts that offer excellent hunting and cattle grazing, as well.

No matter your interest or use for the land, there is a tract that you won’t want to miss out on.

Learn more detailed information about the separate tracts in our auction description.

This is a live on-site auction with no opportunity for online bidding. However, you may register as a phone bidder if you cannot physically make it to the auction site. Register as a phone bidder today by calling our office at 580-254-3975 today!