Auctions vs. Estate Tag Sales: Which is the Right Choice for You?

Personal Property Auctions vs Estate Tag Sales

When it comes to selling personal property, there are two main options: auctions and tag sales. Both options have their own advantages and disadvantages, so it’s important to weigh your options carefully before deciding which is right for you.

Personal property auctions are typically held by a professional auctioneer, and they can be held in person or online. At an auction, items are sold to the highest bidder. This can be a great way to sell high-value items, or items that are in high demand.

Advantages of personal property auctions:

  • Items are typically sold quickly.
  • You can get top dollar for high-value items.
  • You don’t have to worry about pricing or selling the items yourself.
  • Typically very little is left unsold after an auction.
  • Only actually buyers will be in the home to pick up their purchases after an auction.

Disadvantages of personal property auctions:

  • Auctions can be competitive, and you may not always get the price you were hoping for.
  • There may be fees associated with selling your items at auction.
  • Lower value items will be lotted in groups to attract bidders.

Estate tag sales are typically held at the home, and they are usually run by a professional estate sale company. At a tag sale, items are priced individually, and shoppers can browse and purchase items at their own pace. Tag sales can be a great way to sell a wide variety of items, including furniture, appliances, clothing, and lower end collectibles.

Advantages of estate tag sales:

  • Items are priced individually.
  • You can sell a wide variety of items.
  • More comfortable buying experience for retail minded buyers.
  • Low value items are typically

Disadvantages of estate tag sales:

  • Tag sales can be time-consuming to set up and run.
  • Tag sales miss the competitive nature of auctions and potential higher prices for items.
  • Items may be priced incorrectly by staff, either too high and items don’t sell, or too low and expensive items are sold for low prices.
  • You may have a large percentage of items that remain unsold after the tag sale.
  • Traffic in your neighborhood and many people in the home potentially damaging carpet, etc…

Which option is right for you?

The best way to decide whether to have an auction or a tag sale is to consider your individual needs and goals. If you need to sell your items quickly and you’re willing to risk not getting the highest price, then an auction may be the best option for you. If you have a lot of items to sell and you want to set your own prices, then a tag sale may be a better choice.

Here are some additional things to consider when making your decision:

  • The value of your items. If you have high-value items, such as antiques or collectibles, you may get a better price at an auction.
  • The type of items you’re selling. If you have a lot of large or heavy items, such as furniture or appliances, a tag sale may be more difficult to manage.
  • Your time and resources. If you don’t have a lot of time or energy to put into selling your items, an auction may be a better option.
  • Your budget. There may be fees associated with auctioning off your items, or with hiring a professional estate sale company.

No matter which option you choose, it’s important to do your research and choose a reputable company to work with.

Call to action:

Have you decided which option is right for you? If you’re still not sure, or if you have any questions, please contact us today. We would be happy to help you choose the best way to sell your personal property. Call us at 517-927-5028 to discuss your needs.

5 Hints On Attending An Estate Auction

auctionEstate auctions can be a fantastic place to shop for new furniture, antiques, one-of-a-kind home decor, and even priceless treasures. However, before you attend an estate auction for the very first time, it’s important to know what to expect and how the process will unfold. Here are some helpful hints regarding estate auctions.

if there is one. (Many smaller estate auctions are not cataloged.)
This is basically just common sense, but it’s critical to read through the terms of the auction catalog before showing up and being surprised by purchase removal or identification requirements. If there is a catalog there will be important information about the item such as size and condition.

Most auctions are sold “As Is, Where Is, With Any And All Faults Noted Or Not Noted.” Professional auction companies do their best to point out notable flaws; however the buyer is expected to take responsibility for their bidding.

It will not take you long to learn to bid at a live auction as the process is simple. Often the auctioneer is speaking at a very rapid pace, however you will find that he or she is simply telling the bid they have and the bid they want. Just listen for the numbers and if the “ASK” is at a level you are comfortable with; just raise your bidder card in the air so the auctioneer can see it. Professional auctioneers know the familiar patrons in the crowd who use signals other than a bidders card, however they will not confuse your inadvertent movement as a bid.

It is easy to get caught up in a bidding frenzy created by the auctioneer and furious bidding. Set yourself limits on the items you wish to purchase and bid to that amount. If the bidding goes higher take a moment to reflect on whether or not you wish to bid higher. Getting caught up in the frenzy can sometimes lead to what the auction trade calls – “Buyer’s Remorse.”

People go to live auctions for a variety of reasons including, finding something they can get nowhere else, entertainment or to get a bargain. Whatever your reason, the more you attend the more familiar you will become with the process and the more fun you will have.

You can find more about various auction companies on-line by searching auctioneers in your area. Many auctioneers specialize so be certain you review the auction before attending so you don’t find a bulldozers rather than the antique furniture or diamond ring you were looking for.
Ultimately, estate auctions are great opportunities to purchase high quality items the price you are willing to pay.