Whether you're seeking to downsize your life and move into a smaller space or you are determining the potential value of an estate to divide among heirs, an auction house can be a great source of knowledge and experience in these situations.
What Can an Auction House Do for You?
An auction house often manages estate sales and auctions and understands not only the potential value of items but also the whims of local markets. They can help you make decisions about whether you want to auction certain items or consider direct sales where you can set the price.
They can also help you identify potentially valuable items within the "junk" your loved ones left behind so you can make informed decisions about whether to sell at auction, sell directly, or keep within the family. Other ways they can help include the following:
- Quickly remove items from the property you and your family no longer want.
- Reduce the stress of sorting through a loved one's possessions.
- Increase revenue earned through an estate auction.
- Present your items to a wide audience of followers (whether they conduct online auctions, in-person auctions, or simulcast auctions for live and web audiences).
- Save time and effort. The auction house catalogs the items, organizes them for sale, conducts the auction, records the sales, and gives you a bottom-line dollar amount once the auction ends.
Some auction houses will even handle the cleanup and disposal of items that did not sell at the auction so that you do not have to. Ultimately, an auction house can help you liquidate an estate as quickly as possible with as little stress as possible and for as much money as possible.
Why Go the Estate Sale Route?
For most people, it is a matter of expedience. It is possible that you could get more money for your items if you could hold on to them until the time is right to sell. However, most people do not have the luxury of space for that. They need to empty a home quickly so that new owners can take possession and they need somewhere for the items currently in the home to go. That is where the auction house comes into play.
An auction house can help you identify items that are likely to draw a crowd of bidders as well as those that might draw the eye of specialized collectors. In doing so, the auction house creates the opportunity for heirs to maximize the auction earnings within the limited timeframe they have available.