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Estate sale vs. auction

When individuals or businesses make the decision to liquidate or downsize their assets it can be a very difficult and emotional process. They may be dealing with the sale of a home, family inheritance, or making a lifestyle change. While items such as real estate, tools, equipment,  furniture, antiques and jewelry often hold treasured memories, they may also hold hidden value.

There are a few options for liquidating the contents of a property. A well-marketed auction with a reputable firm is the easiest and the most cost-effective way to sell personal belongings. By selling at auction, rather than hosting a house sale, the belongings are exposed to a larger and better informed audience, which in turn leads to higher prices from competitive bidding.

It is a common misconception that the terms “estate sale” and “estate auction” are interchangeable. However, there are differences of which consumers should be aware before commiting.

Estate sales / Tag sale / Garage sale

  • They are non-competitive, with items often priced too low or sold to the first buyer.
  • Items start with a price and go down by each day..
  • 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 or governed by any state or local entity.

Auctions run by reputable firms

  • Bidders compete to pay the highest price, which generates the highest return for sellers.
  • The auctions attract an audience of live and online local and international bidders.
  • Buyers can preview auctions and look at things online.
  • An auction has state and national boards, and are subject to taxation.
  • Auctions are very open and transparent, with accredited appraisers, realtors and a detailed accounting software.

To help make a good decision, contact Advantage Auction & Appraisal in Springfield MO.  Advantage Auction has been in the business over 16 years, and has thousands of transactions.  Call 417-597-4433 or email BuySellMO@gmail.com

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