Should you do an estate sale or auction? Well, that depends on the situation. In many cases, you are better off doing an estate sale with perhaps a few selected high demand items go to auction.
Auction company will tell you that their price can only go up while in an estate sale it can only go down. They are correct, but they fail to mention many items only have 1 bidder resulting in a much lower price than the estate sale. Business owners that buy from auctions normally don’t liquidate their stores that way, if they can’t sell them.
Auction companies will tell you how something is underpriced a lot in an estate sale. This does happen, but not that much. They don’t tell you how often bidders get something for almost nothing.
One thing auction companies will bring up that you only part of the fee and the bidders pay the rest. You realize if the fee is 15% and the bidder thinks the item is worth $100, he will pay a maximum of $85 and most likely less. The thing that matters is the net to you.
Most estates have lots of little things that can produce more in an estate sale if properly priced. An auction will make a lot of assorted items which normally will not get as much as the buyer does not want some of the items.
Auctions are best for high demand and higher ticket items. There are some high-end estates that may do a lot better having an auction. Most of the estate sales in San Antonio that I have visited that was the right choice.
Should I have an Estate Sale or an Auction?
Estate Sales are a very useful sales strategy, they allow shoppers to come into the home and pick out items that have already been priced for purchase. Often bids are accepted so that the professional holding the estate sale can make as much profit for the estate as possible.
Have stuff to sell because of downsizing, divorce or death? An estate sale or auction could be your answer.
Whether you are baby boomer who is downsizing, someone faced with a divorce or with the loss of a loved one, there will come a time to decide how to handle the selling of personal assets that are no longer needed. There are many options, and the most common is to conduct an auction or estate sale.