My mother recently passed away and left her home and furnishings to me. My husband and I want to move into the home but we do not need all the furnishings. I don't want to do a "yard sale" as I feel some of her things are of value and may not get a good price.  A neighbor told me to find someone who would sell them for me on consignment.  Would an auctioneer be interested in something like this?

There are many auctioneers that have galleries that conduct consignment auctions. There is a caveat though. Most auctioneers do not like consignments with a reserve, meaning the seller has a minimum dollar figure the seller is willing to accept.

Ironically, some sellers want more money than what a group of buyers are will to pay because the sellers are not familiar with the market or the item to be auctioned. That is why the auctioneer likes the absolute auction, meaning the highest bid wins regardless of the price. If the auctioneer has done a good job in marketing the auction, you should get a good price for your items.

Many auctioneers will buy pieces or the total furnishings from an estate. The auctioneer needs to make a profit when he sells, so you need to take that into consideration. For information on North Carolina auctions, go to my website at www.canSellnow.com.

 
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2 Comments on Consignment Auctions

MAY
14
2008

More people will come if they know it is an absolute auction.

8:09pm • #1
MAY
15
2008

Shaun, you are exactly right. An absolute auction stirs more excitement and competitive bidding than an auction with a reserve. Thanks.

Ron<><

5:47am • #2

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Ron Taylor

Louisburg, NC

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Ron Taylor and Sons Real Estate and Auctioneers

Address: POB 1083, Louisburg, NC, 27549

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An informative blog discussing new ways of selling residential and commercial real estate in the state of North Carolina using professional real estate auctioneers.


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