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.