Estate sales are events held to dispose of a significant amount of materials that belonged to a deceased person. Often, these sales are organized to help with a move. But sometimes, they are simply held for personal reasons. Whatever the reason, these events are a great way to dispose of the deceased’s possessions.
To buy an item at an auction, you’ll need to place a bid. Lucky Rabbit Estate Sales, Inc., reserves the right to extend the auction or end the sale early. We strongly recommend placing your bids early, however. You must be at least 18 years old to bid. Once you place your bid, you will need to bring the appropriate identification, which includes your driver’s license and tax certificate.
Before attending an estate sale, you’ll want to know as much about the items as possible. A good auction house or estate liquidator will provide detailed information on each lot. You can even request a catalog so you can see what you’re bidding on. Having more information will give you more confidence when bidding.
Estate auctions are different from traditional retail sales. Usually, items sold at an estate auction have a final price of less than their asking price. After the auctioneer opens bidding, he or she will state the asking price and if no one bids, he or she will decrease it. Once a bidder bids more than the asking price, the item will be sold to the highest bidder.
Before heading to an estate sale, you should have a good idea of the items you want and the price range you’re willing to pay. You can also do some research on the Internet before you leave home. eBay is a great place to find what you’re looking for. You can search for similar items or browse through recent sales to get an idea of the value of the items you’re interested in.
To bid, bring a check or money order to pay for the items that you bid on. Make sure to include your bid amount and the amount of deposit. Often, you’ll need to pay the deposit in full within 10 business days after winning the auction. Otherwise, you may lose your deposit and be barred from future auctions. If you’re an entity, you may also need to provide documentation proving your business.
An estate sale can be a good way to sell unwanted items. You can also donate the items that didn’t sell to charity and take advantage of tax deductions. However, be aware that there are many disadvantages to auction estate sales, especially if you don’t know where to start looking. For example, you can end up with a lot of unwanted items mixed in a package of desirable items.
A professional auction company can help you sell more items and get a higher price for them. Professional companies also have the advantage of accessing a larger network of buyers and providing additional buying time. Furthermore, many estate sale customers find that online auctions boost demand. Buyers appreciate the convenience of online shopping, which makes these auctions very attractive to potential buyers.