Why an Estate Auction and not an Estate Sale?
An estate auction is typically handled by an auctioneer or auction company, where items are marketed and sold through competitive bidding. Because buyers are competing for the items they are bidding on, the bidders are establishing the market value of those items. You don’t have to worry about all that time it takes to properly price an item OR the anxiety and workload that comes from all that research and investigation. By choosing an Estate Auction instead of an Estate Sale there are no early sales to friends, no rushing the door at opening time, no lines, no switching stickers and no grabbing or hoarding, and remember, at an estate sale the prices only go down, being reduced 50% to 75% depending on the day. Well, at an estate auction they only go up! That’s what competitive bidding does!
With an auction company, you market and sell your possessions through an online estate auction where buyers don’t have to show up on a given day at a specific time to buy what they are interested in. Buyers bid and buy from the convenience of their home, office, or mobile device, anytime during the auction period. That means more buyers and stronger competition for your items. What that means for you…? More competition for every item means higher prices for each of the items being sold in the estate. More money… less time!
And when you hire a professional estate auction company, all of the marketing (and all of the time that goes into it) is taken care of for you. No more need for posting Craigslist ads or Facebook Marketplace.
Instead, the auction and items are marketed to retail buyers who are not looking for estate sales, but rather are looking for specific items being sold in the estate. Having the right buyers ensures there is strong competition for the items being sold. And remember… strong competition means better results for you!
So, while estate sales can have a few perks, they generally waste a lot of your time and produce significantly less results. An estate auction on the other hand, is far more efficient, far less work, and generates much better results for you and your family
How much are your items worth?
Market value is determined on demand and rarity as well as the economy. Also, sentiment often affects the value potential a consignor attributes to their item. More than one person will have to want to buy your item to drive the price up. We want your items to sell for as much as possible. If you already had an Estate sale or Garage sale then an Estate auction is not the way to go as the remaining items are most likely of minimal value or will not be desired by potential bidders (all the good stuff is already gone).
We do not offer reserves or minimums and each lot starts at ONE DOLLAR
How much will an Estate Auction cost?
Our fees (commission) are taken from of auction sales so there is no out of pocket cost to you, the seller. Since your items are being sold at your location the commission is set up differently than with our regular weekly auction. Also, we are not looking at specific items since everything agreed upon will be sold.
Our commission is determined by the auction's total sales amount, or the amount of the hammer price of all lots sold. Our standard commission rate is 30% for sales under $10,000 and 20% for sales over $10,000. Each sale is unique so an exact fee will be agreed upon during our initial visit. We have been known to charge less, but never more.
As far as we know other auction companies do not post their rates so please shop around
How long will it take to conduct an Estate Auction
All estate auctions are different (quantity and location), in general we need three weeks minimum after the sale is agreed upon (signed contract). The first week our company will inventory, photo, tag, describe and create your catalog. As soon as your catalog is complete it will be posted and open for bidding for a minimum of 10 days. There will then be a one or two day period for pick-up. How soon we can start on each sale is based on our availability and will be determined during the initial consultation.
How long will it take to get paid?
Your payment may be available as soon as three business days, but no later than five business days after the auction closes.
Who do I contact ?
To arrange an Estate Auction or for any additional questions about an Estate Auction please email email@example.com
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Roadrunner Auctions, LLC