Estate Auctions vs. Estate Sales – What’s Best?
When individuals make the decision to liquidate or downsize their assets, it can be a difficult and emotional process. The may be dealing with the sale of a home, handling a family inheritance or making a lifestyle change. While items such as furniture, antiques and jewelry often hold treasured memories, they may also hold hidden value.
There are few options for liquidating the contents of a property. A well-advertised auction with a reputable firm is the easiest and most cost-effective way to find a place for personal belongings. By selling at auction, rather than hosting a house sale, items are exposed to a larger and better informed audience, which leads to higher prices from competitive bidding.
Many people believe the terms “estate sale” and “estate auction” are interchangeable. However, there are significant differences of which consumers should be aware.
Estate sales run by realtors and sellers
They require more of a realtor’s valuable time.
They are non-competitive, with items often priced too low or sold to the first buyer.
They usually are attended by only a few favored dealers, friends and neighbors, with limited preview opportunities.
There is no opportunity to attract a global online audience.
Organizers are not regulated by any state or local entity.
Estate auctions run by reputable firms
Bidders compete to pay the highest price, generating the highest return for sellers.
The auctions attract an extensive audience of live and online international buyers.
Buyers can preview auctions from a day to weeks in advance.
An auction house is a bonded business subject to all local and state laws and taxation.
Auctions are open and transparent, with accredited appraisals and a detailed accounting.
To help make the best decision for yourself, contact the experts at Abell Auction Co., Los Angeles’ first permanent auction house handling fine estates and collections. Celebrating our 100th anniversary, our weekly and quarterly auctions drawing an international audience of in-person and online buyers (a growing trend). Call (310) 858-3073.