Because of the nature of our work, many of you are in all three categories and even if we have only just met, we are concerned about you and your families.
During this time of national crisis, AMCbid will continue to be fully open for business, serving the needs of all, to the full extent we are able.
We will of course follow all best practices for mitigating the spread of the Covid 19 virus because we are especially sensitive to the needs and concerns of the most senior members among our communities.
Briefly, we would like to note the following for the benefit of all:
- AMCbid is a geographically diverse organization. Should a local or regional issue arise, we will shift human resources from elsewhere as needed.
- AMCbid is further bolstered by solid working relationships with dozens of peers who are happy to supply us with subcontracted services, should local needs arise that we are otherwise prevented from attending to personally.
- AMCbid is highly invested in online processes and has been for decades. Our auctions, appraisals and consultations have been created, managed and conducted primarily online for the past decade. Our communication and data sharing protocols enable us to have redundant systems so all documents, project plans and contact databases are instantly and securely available to our whole team. Never has that been more of an advantage than now. We are highly proficient operating in the current paradigm.
- AMCbid is dedicated to supporting our community as we all go through this together. It has never been more important that everyone in our sphere will still be able to work and put food on the table, as together we weather the storm.
- AMCbid will follow best practices for limiting spread of the disease, including all personnel being supplied with N-95 masks and gloves and offering to mask up, as we travel around the U.S. for the functions which require we be hands on with various assets.
- AMCbid will use our hearts and our heads to address all concerns based on caring consideration and intellectual honesty.
Please feel free to speak to us openly and honestly at any time about concerns you might have regarding our continuity of service plans or our approach to community responsibility. We are a small enough firm that you can speak directly at any time to a decision maker. If you feel we need to do more, or if you have unique needs, please give us the chance to be responsive to your concerns.
Thank you for being part of our community. We believe the best way to get through times like these is for everyone to pull together, work hard and keep open and clear lines of communication.
Thank you for being with us. You have our support.
Banking habits have changed due to the advent of online banking. Many customers now do their banking from their mobile devices, and rarely see the inside of a bank. In response to this trend, banks have begun changing their business model, and shedding less profitable bank branches.
In 2009, Auction Management Corporation was engaged to begin selling excess bank branch locations for Bank of America. Over the next 8 years, AMCbid as exclusive auctioneer for the bank auctioned over 500 bank branches in almost every state in the continental US. All bank branches were sold on an Absolute basis to the winning bidders, regardless of price. Since then, AMCbid has continued to sell bank branches for other regional and national banks.
Bank branches tend to be well located, on busy highly visible corners, with adequate parking, and have been well maintained. Of the many branches we have sold, only a handful have been purchased by other (usually local) banks. Many have been sold to local municipalities. Many have been converted to restaurants, hardware store, auto parts stores, financial advisors, real estate offices, or other retail or office uses. Gun dealers, jewelry stores, pawn shops, security companies and other businesses who want secure storage in the vault or safes are often buyers. And in certain states where marijuana has been legalized, they have been found to be ideal dispensaries!
We are the nation’s most experienced and trusted bank auction firm.