How To Prepare For An Estate Auction
How To Prepare For An Estate Auction
When you are in the process of preparing for an estate auction, McCoy Auction Services has some helpful tips that can help to make your auction a breeze. Whether its proper appraisal of antiques or deciding which items will be kept, following these helpful tips will provide you with the assistance that you need during these trying times.
1. Don't Throw Items Away
Few things are worse than throwing out an item, only to find out that it was more valuable than you realized well after the fact. Judging which items have the most value without the help of an auction professional is a fool's errand, so allow them to decide which items are of value and which ones can be safely thrown away without later regret.
An auction professional from McCoy Auction Services will be able to find the value in items that you may have already written off or put into the donation pile. Clients who have an excessive focus on the big ticket items will often miss out on smaller gems that provide equal or greater opportunity to reap a profit. Allow the professionals to take inventory and don't let yourself miss out on a potential gold mine.
2. Hiring The Right Auctioneer
It is not enough to hire an auctioneer to handle your estate auction and appraise your antiques, you must hire the right auctioneer. Be sure to do your research before making a final decision and learn more about the auctioneer's credentials during the planning stages.
The two most important factors in this decision are the professional auctioneer's ties to the national auctioneers association and their state association. If the auctioneer does not have the proper credentials, they should not be hired.
3. Don't Skimp On Advertising Costs
In certain instances, an auctioneer's client will want to save money on advertising fees and lower their costs, but this decisions can actually cost more over the long haul. Take a step back from the process and allow the auctioneer to advertise as they see fit, without excessively worrying about the budget.
When advertising costs are cut, this can significantly hinder your ability to maximize the profits from your estate auction. During the process of hiring a professional auctioneer, take a step back and give them the ability to control the process. By trying to save money on advertising, your selling prices are also cut, because you do not have the correct bidders in the crowd.
4. Choosing an Approach
The do it yourself approach may seem like the easiest one to take, right? You can save money and have a far greater sense of control over the process. But this approach ignores one crucial fact: a trusted professional will be able to take on this task and handle all of the attendant issues much more easily than you can.
Most of us do not have the time or the money that it takes to do this job and do it well. Are you experienced in the art of appraisal? Have you had any contact with an experienced appraiser? If the answer to either of these questions is no, then the do it yourself approach is probably not for you.
By entrusting your estate auction to licensed experts, you can leave item inventory, appraisal, marketing and sales in the hands of those who know best. McCoy Auction Services is well aware of the emotional strain that you are experiencing during this difficult time and their primary objective is to make life easier for their clientele.
5. Sort Your Items
While you should not be making any definitive decisions about items that you are throwing away until they have been examined by a professional estate auction service, you can streamline the process by sorting your items and deciding which ones you most wish to keep. This will allow you to safely store away the items that have peak sentimental value.
The more items you can decide on keeping before calling a professional auctioneer, the easier the process becomes for all parties involved. This keeps clients from potentially changing their mind after the ink on their contract has already been given a chance to dry. Don't contact a professional auctioneer until you've already sorted everything out.
6. Don't Sweat The Small Stuff
For some reason, people find it necessary to clean the home where the items are being stored before their chosen auctioneer arrives, but there is absolutely no need to worry about making the place tidy. Just sit back, kick your feet up and let the experts do their job.
While an item that could have been sold for a profit may end up getting tossed out along the way, this is par for the course during an estate auction. An estate auction company takes care of the preparation process and is not worried about the cleanliness of the home.
7. Have Your Paperwork and Photographs Prepared
All financial paperwork should be brought with you during your initial meeting, even when it is not current. McCoy Auction Services gathers the necessary personal documents and provides the executor of the estate with the opportunity to dispose of items as they wish.
Framed photographs that are strewn throughout the house must also be removed, as well. A professional auctioneer places these treasured photos in a document package and they are shipped to the estate's executor once the sales proceed check has been issued.