Some Things to Think About When Considering an Auction
Here are some things to think about if you are considering an auction.
Will the items you have draw a crowd? One of the most common mistakes sellers make is to give in to the temptation to sell their 'best pieces' outright. But those pieces are going to be the draw for your crowd. Once the crowd starts bidding on the item, you're likely to find that the motivated bidders will raise the price of your treasured item well above your asking price.
Do you have enough stuff to have an 'On-site' auction? Is there enough room to properly display your items onsite? Is there room enough to accommodate parking? Is there a home owner association to consult?
Who will ready the items for the auction? How does the auction company bill to prepare your items for auction?
Will you need to have your items moved to another location? Will you have to move the items yourself or will the auction company move the items for you? If the auction company moves the items, will they charge you a 'per-trip' fee charge? Will there be an added expense for labor on top of the trip fee?
Does the auction company charge a 'no sale' fee or a 'dump' fee? Do they charge a 'per-lot' fee? Do they charge a 'buyers premium'? If so, is the premium right for your sale?
Is your prospective auctioneer a member of your state auctioneer's association or the National Auctioneer's Association?
If you would like to learn more about selling your items at auction, call us. We will be happy to meet with you and discuss your auction needs.
Ben Twilley, Auctioneer
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