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Thursday, August 21, 2014

Estate Auctions Vs. Estate Sales

Estate Auctions Vs. Estate Sales

Busy Bee Moving and Estate Sales - An Estate Sales Company in Nashville, TN.
 People come to us all the time needing an estate sale and are wanting to know what is best an estate auction or an estate sale.  I have frequented many estate auctions over the decades and agree they can be fun and even addictive to the collector.  However,  I must say that an Estate Sale will bring more profit for the home owner than an estate auction.

For instance,  every item is given a short moment on the market for the buyer compared to an estate sale that  gives that same item 2 to 3 days on the market for a buyer.  Because most estate sales reduce prices each day, this gives the Star Wars collectibles different price points as well as the opportunity for the collector to negotiate with the estate sales managers.

If you see an Eames table in an estate auction you not only have to be present at the time of the estate auction, you must also be willing to stay through the entire estate auction in order to bid on the Eames table.  Some estate auctions may allow you to leave a bid for consideration of the item but those bids normally have to be higher and don't favor the non-present bidder compared to those who are present and have the advantage of the live auction.

The advantage to the seller is that the items in the estate sale are given more opportunity to sell at the maximum price.  Estate Sales will often allow a silent bid for items as well if the Eames table doesn't sell at the tag price, they may contact you at the end of the sale to accept your bid offer.

So why do home owners often go with estate auctions rather than estate sales?  Estate auctioneers are usually a less percentage rate.  The downside of this is the estate auctioneer usually doesn't clean and organize.  Collections are often thrown into boxes for convenience and sold by the lot rather than individually, thus bringing less revenue for the items.  Estate Auctions are exciting and play upon the impulsiveness of the buyer.  This may be an advantage of the seller but only a small percentage of the population is comfortable with this type of gambling.  We have done several farm sales and can vouch that an estate sale is far more beneficial for the farmer to choose an estate sale than an estate action or farm auction.  Farmers are often more familiar with auctions due to selling cattle in this fashion.  Farmers often know of auctioneers in whom they trust to conduct their sales so they feel comfortable going that direction in liquidating their farms and selling their tractors and farm equipment.  However,  I was successful in getting top price for Kubotas, bailers, New Holland tractors, Bush Hogs, and Gravely mowers in an estate sale at least 20% more than an estate auction.  A local auctioneer visited our sale and rudely scoffed at our prices but showed up again at the end of the sale expecting most to be leftover only to find we had sold it all.  He was not happy but our client was. #estateauction #auction

 This article is brought to you by Busy Bee Moving Sales in Nashville, Tennessee.  Visit our website to find out how we can assist you in selling your estate. email: or call 512-788-2544.

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