Determining and Analyzing Your Business Value

The financial health of your business is important. Do you know how to measure it accurately? While auction professionals count money every day, the complex factors that build the full value of an auction business can be challenging to understand. This class unlocks how to understand your client and how they view the auction results from a financial perspective, allowing you to close more sales. You will learn how to do a valuation of your auction business model to maximize your business value.

Upon completing this class, you will be able to:

  1. Describe basic financial reporting for your auction business and its relevance to client goals
  2. Identify the time value of money and its potential to meet client goals through an auction
  3. Monetize the business model elements that create value for your business
  4. Identify important indicators to measure and track in your business to gauge financial health

 
 

About the Instructor

Ailie F. Byers, CAI, AMM, BAS

I was born and bred New Englander, raised by a nurse/librarian and a Marine officer in New Hampshire and Rhode Island. I have an older brother, a Marine, who now lives in Vermont, running his own business. I was lucky enough when I was seven to start working for my aunt and uncle's auction company. Each summer, my responsibility grew, as did my pay; by the time I went to college, I ran the crew at the personal property sales and the standard transmission trucks. Setting up the auction locations and tents and clerking and checking people out and in. The longstanding joke in the family was that when the company was big enough, I would be hired full-time to take over. After undergrad in Virginia, I worked in multiple industries across various geographic locations. I started operations at a financial brokerage house. Then I worked for the world's largest multinational corporation, GE, in international logistics. I also had the opportunity to work out west for a resort in a National Park and other jobs in retail and title management. After a bit of time, I decided I needed to go back to school. I went back to my first place of higher learning, the University of Georgia. I was lucky enough to be accepted to the School of Public Administration. I received my MPA from them with a concentration in Public Policy. Go Dawgs! Then I got the infamous call. It was my time to come home and work in the family business full time. I now have three designations (CAI, AMM, BAS), hold auctioneer licenses in four states, have my real estate license and serve as the NAA's Treasurer. I also have the honor of being the American Numismatic Associations auctioneer at their summer session since 2015 and a life member. It is fantastic to combine my two major types of auctions into one. The Young Numismatists (13-17) run the auction, and the fund benefits their scholarships to attend the summer sessions and other events. I run our real estate and benefit auction divisions. I have had the fortune to hammer down many price records for our coin & stamp auction company. My life now is in constant flux, and I love it. I never knew that my past experiences were training me for this job.