All things equal, it's the best time to hold estate auction. If you're in need of the services of an auctioneer, you probably have a lot of questions.
Here are some things to do before you meet with the auctioneer that will help the negotiation process.
- Are you sure you can legally have an auction? Many estates need to go through probate before an auctioneer can be hired.
- Go to Ask an Auctioneer, online to get help with your auction questions.
- Find and research auctioneers online at Auctionzip.com
- DON'T go with a new auctioneer. There are many great ways for a rookie to get their feet wet, but an estate auction is NOT one of them. Look for someone with a minimum 25 auctions under their belt.
- Decide what the family is going to keep if anything and make this clear to the auctioneer BEFORE you negotiate terms.
- Don't forget that an auction is the best way to get FAST cash for your items, but you won't get the highest prices. Make sure you're ready for this.
- Ask as many questions as you have, and make sure you understand the terms of the contract if you should sign one. For example, things to consider are: commission fees, where the auction will take place, whether or not there will be reserves placed on any items, will there be a clean-out of the property by the auction company, and much more.
- It's OK to get several quotes, but make sure you're comparing apples with apples. Different auction houses may provide services that others do not.
- Once you've decided the auction will take place and the contents of the estate are advertised, you may want to contact the local police chief if the estate is empty. Let them know what the auctioneer's vehicles look like, and the expected hours they'll be there. That way any suspicious vehicles will be noticed.
Good luck, and if you're in need of any help, you can always Ask an Auctioneer.
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