Should I conduct an Estate Sale or an Auction?
AUCTIONS: Finding an auction company in Phoenix, Arizona for the object or objects you want to sell will require some effort. Most Auction companies in Phoenix will ask for you to take pictures of the items you'd like to auction off via email. If they are interested in your items, they will ask you to write detailed descriptions for the auctioneers. You'll need to note restoration, repairs and the items provenance. Fees range from 30-45%. Unfortunately, most Auction Companies do not place a reserve. If they do, you'll end-up paying a fee for that too. Auction companies do not take everything. Typically auction companies in Phoenix, Arizona charge a "buyer's premium"or "buyer's fee" which is a percentage that is added onto the hammer price of an item. (The hammer price is the final value called out at the auction). The fees here in Arizona are 25-30%.
everything. Typically auction companies in Phoenix, Arizona charge a "buyer's premium"or "buyer's fee" which is a percentage that is added onto the hammer price of an item. (The hammer price is the final value called out at the auction). The fees here in Arizona are 25-30%.
We have a couple of companies here in Arizona to be very careful of. Behind their name, one states "Estate Liquidators, LLC" and the other has behind their name, "Estate Auctions". First and foremost, they ARE NOT licensed, bonded and insured. Remember, you must ALWAYS do your DUE DILIGENCE and check-out who your hiring. This company places their employees in the sale for 2 reasons. 1. They never have more than a handful of people in attendance. 2. They make very low bids on the items. Problems that happen out of a situations like this is the auction company may strategically position and price valuable merchandise which is quietly sold to the auction company (themselves), or friends, so they can reap the true value of the merchandise elsewhere. Many companies reserve the right to retain any remaining inventory at the end of the sale, which again raises eyebrows and is a major conflict of interest. Transactions as to who the real buyer was are none existent and the homeowner who retained them has no recourse whatsoever. The owners should ALWAYS BE PRESENT while your items are being sold!
If the people who are the best fit aren't present at the auction, the selling price will correspond to the lower end of the market value, because the buyers don't consider the specifics of that item what they would have gotten had the right prospective buyers been present to hold the value that they would to exactly the right prospective buyers.
ESTATE SALE COMPANIES