The old-fashioned auction on land! The thought of an auctioning country conjures up some photos for men. One common example is the picture of a fast-talking auctioneer selling an antique table or chair. Find expert advice about Powell Auction & Realty, LLC Near Knoxville read here.
Customers who purchase household goods or collectibles are trying to get the lowest possible price for their pieces. The people who sell their things at the auction hopes for the highest price though!
Unless an individual is engaged in buying and selling antiquities or other objects, there is not much thought about how goods are prepared for sale through the auction process. However, if you are one of the which numbers of people using auction sites to sell your collectibles or other inventories, there are a few items to know first about how to sell at auction before you carry a truckload of stuff over to the next gathering.
Tip 1: Make sure items that you want to sell are a good “fit” for the auction house that you are going to use.
Never carry a ton into an auction house without having personally been to all of the previous auctions. It is important to get a feel for the kind of products the house is selling. For example, it was popular for the owners to sell live chickens, pots and pans, car parts, and farm equipment at one very rural country auction.
This would not be the best place to sell the “Hello Kitty” series of your daughter after close investigation. At the other hand, the John Deere spare parts you purchased at last week’s yard sale might be just the right thing for the buying crowd at this auction.
Tip 2: Make sure you clearly understand auction house terms and policies.
Beforehand visit with the auctioneer. Call to find out what the best times and days to visit are. One of the worst possible times to stop in with an auctioneer for an informative appointment is the day of the auction. Call on, and ask. While at it, find out which are the best days and times to drop off your things.
Once you have a little time with the auctioneer, you will be able to find out what kind of fee he or she is getting from consignors (which is you), and what kind of documentation might be required. At the end of the year those auction houses send out Form 1099 tax forms. An auctioneer may need to see the id and have a W-9 filled in. Be ready.
Find out what happens when the things aren’t available. Many auctioneers might have a minimum start bid, for example. If one of your items doesn’t sell for some reason, it may be combined with another of your pieces. Know the approach of the auctioneer in advance and you won’t be surprised on payday.
Tip 3: Make sure the auctioneer knows what it is that you sell.
You may find it perfectly clear that the signed print you are consigning is a rare and valuable work of art. The auctioneer may not know the particular artist though. Make a note of something special about your items, and leave the note with the piece. Make sure to tell the auctioneer that too. He or she may consider that this is something that should be illustrated on the company website or in the newspaper listing.
Tip 4: Have your things displayed neatly.
One wants to search through a box full of dirty and greasy parts of the car to see what treasures might be in it. Separate the parts and lay them on a table, or use more than one box to decompress the collection.
No need to buy fancy boxes for show. Walking to the local convenience store or supermarket is simple enough to ask if you can have the empty boxes or flats which they discard.
While displaying clean products is fine, be careful not to ruin anything’s value by overcleaning. If you find some old cast iron cookware, for instance, clean the obvious dirt and grime but don’t scrub it to its original finish. For a lot of people this damages the item’s worth. So, the goal here is clean and tidy and ordered.
Tip 5: Do not complain to the auctioneer if your item is not selling for as much as you would like.
The phrase here to remember is, “You win some; you lose others.” That’s just the way it is. There are a few days when there is an auction house loaded with people who all seem to want what you sell. Many days will come when the crowd is small, and the bidding just isn’t open.
Know that selling the stuff for the highest possible hammer price is in the best interest of the Auctioneer. But occasionally, it just won’t be a great deal. The auctioneer is person only, and is also frustrated if a sale is not going as well as expected.
If you find that each time you bring a bunch of products to sell that you don’t know as much as you really think you would, try another auction site and compare apples with apples. That is, put in the new auctioneer the same types of products and compare the results.
There is no need to question him or her about a sale unless the auctioneer is especially disagreeable or inconsiderate towards you or buyers. If you find that you really don’t care for the style or methods of an auctioneer, then find another. Believe me, plenty of them are out there!