Is an Auction right for you?
Online Bidding vs Traditional Live Auction?
What are our options regarding holding an auction?
Is Bid On Estates the right company for us?
1) You know that some of your items are valuable, but are unsure of what things are REALLY worth?
2) Do you have too much to deal with yourself and you want it gone relatively quickly?
If you answered YES to either of the questions above, an auction might be a good fit for you.
Addressing Problem 1) You know that some of your items are valuable, but are unsure of what things are REALLY worth?
Prior to the above items selling in our auction, I knew that all of these things were "good", however, I never would have guessed that the final price of any of those items was going to be as high as they were.
Auctions allow items to sell to the highest bidder at the highest price that a large group of informed and interested parties agree upon.
Unlike an estate sale (tag, garage sale) where somebody sets a price and then usually negotiate down to a lower price, our prices only go up. I recall years ago that I attended an estate sale that had a very particular and special table for sale. Because we had to line up outside, the guy in front of me was able to purchase it before I had a chance to, it was marked at a SIGNIFICANTLY lower price that what I was willing to pay as it was manufactured by a little known but highly desirable manufacturer. If that item had gone to an auction it may have sold for an exponentially greater sum.
Furthermore, nobody knows everything about everything. I have been buying and selling for decades now, and while I do know a LOT about a LOT, I don't know everything about everything. One reason that auctions work is that it allows the two most informed bidders to go head to head, equipped with their own specialized area of expertise and backed up by their wallets. The chances of selling a very rare item for a very low sum is greatly diminished in a well advertised auction.
Issue 2) Do you have too much to deal with yourself and you want it gone relatively quickly?
Even for a professional like me, it is a lot of work to sort, organize, group, research, and present items for sale. Then there is the advertising required for a successful sale. Then logistics of handling crowds and collecting payments. It takes effort to get things right.
The auction process allows us to liquidate the contents in a controlled but speedy manner. Each project is different, but we usually spend a week or less in most homes getting things ready, then it's nearly ALL gone in just a few short weeks.