Private Treaty Sales - Hiding Auctions

Private Treaty Sales - Hiding Auctions

Private treaty sales refer to the process of selling assets, typically real estate, through direct negotiation between the seller (or their representative) & interested buyers to achieve an optimum price & executed sale, without relying on an auction.

In the auction industry, private treaty sales are also used for luxury items, which require more time for marketing & a wider sales window. This is especially true when targeting international buyers.

They provide more time for the vendor, buyer, & agent to assess, verify technical niche asset details & their origin, which may not be possible during an auction's restricted time frame. This can negatively impact the asset's value & its actual worth.

This negotiation often involves discussions around the sale price, settlement date, & any specific conditions or contingencies.

They also provide a level of confidentiality that some sellers may find attractive, particularly in the case of high-profile assets or where discretion is essential. This enables the seller to manage the information about the sale & potential buyers.

It is crucial to understand that the outcome of a private treaty sale largely relies on effective communication, strategic marketing, & adeptness in negotiation skills. Both sellers & buyers are advised to seek professional guidance, such as hiring an agent to ensure a seamless transaction.

Snoofa allows private treaty sales to be conducted seamlessly through its specialist auction software, allowing you the confidentiality & due diligence expected at this type of sale - here’s how…

So for those times when you wish to sell Items outside of a traditional auction, but crucially you still wish to have these sales processed through Snoofa, the process is simple & the same whether it's a single Item or many Items.  

Private Treaty Sale Dashboard

How-To Hide Create Private Treaty Sales

To create a Private Treaty Sale, you can follow the same process as for your other auctions. Firstly, log in to Snoofa & click the "Add New Auction" button. Then, fill in the form as you normally would. For Private Treaty Sales, you should usually select the Sealed Bid option as the auction type. After that, fill in the details of the sale as you normally would.

If you need help creating other types of auctions or understanding Snoofa as an admin, you can find articles in the Admin section of this knowledge base.. 

Typically, Private Treaty Sales are not made public, so you may want to hide them from your website. To do so, please see "Hiding Auctions" below.

New Auction Form

How-To Hide Auctions

Because of the very nature of Private Treaty Sales, you will generally not want them to be published on your website (hidden from public view). To enable this, we have enabled Snoofa to be able to hide Auctions with the click of a button.

In short, go to your Auctions Dashboard, & click the Retract button. Below a short video to assist you & explain more.