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3 Steps to a Successful Estate Sale Auction
You’ve decided that it’s time to downsize your home or someone in your family has passed on and you want to sell their belongings. Holding an estate sale auction is one of the most efficient ways of achieving your goal if done in the right way.
Here are the 3 steps to take to ensure the event is a success…
Step 1: Decide what you want to sell.
You want to have a mix of “good”, or valuable items, and just regular everyday items. The valuable stuff is what will bring buyers to your online auction and make it worthwhile to browse through the other items.
Make sure to do research on the items you think will bring in more money so you have an idea of the market price. Keep in mind that just because an item is vintage or unique doesn’t mean that it will sell for more. Also, look out for items that are marked, signed, or are limited editions.
Step 2: Find an auction house to help you sell the items or sell them yourself.
Make sure to read this post about what you should know before doing business with an auction house.
Pros of selling with an auction house:
* Save a great deal of time. If you’re really busy and don’t have the time to photograph, write descriptions, and answer questions from buyers, then hiring an auction house might be best for you.
* You can often get more for items. An auction house that specializes in online auctions can get your items seen by a worldwide audience using a variety of marketing channels, so items get more potential buyers.
* Everything gets sold all at once.
Pros of selling items yourself:
* You don’t have to pay a commission to an auction house.
* You have more control over how to present an item. You probably know more about the item you are selling, especially if there is a good story to tell. Also, if you’re a good photographer, you can showcase an item from all angles.
Step 3: Market the auction.
Marketing will probably be the single most crucial part of this process. Without marketing, you don’t have buyers. Keep in mind that you are competing with thousands of other online sellers.
If you’re well-versed in online marketing, SEO (search engine optimization), and know exactly where your buyers are hanging out online, then this should be relatively easy for you. When you sell with an auction house, you will save a great deal of time placing ads, engaging with buyers, and finding the best places to advertise your online auction.
Are you in the San Diego area and thinking about selling your items via an online auction? Contact us to see how we can help!