Should You Choose an Estate Sale Over an Auction?
Are you downsizing?
Do you have a large quantity of things that you’d like to sell?
If so, you might be wondering Which is better an auction or an estate sale?
Between auctions and estate sales, the best monetary return is almost always an estate sale. You can expect a return of between 35% and 70% from an estate sale, but from an auction the return is typically 5% to 35%.
So is an estate sale always the best choice?
In an estate sale, items are cleaned, arranged, and priced. The sale looks much like a store with attractive displays to draw people’s interest.
Whereas in an auction, except for very high value items the goods are boxed and sold in lots. Items are jumbled together and are not cleaned to show at their best. Typically customers can’t see the part of the lot on the bottom of the box. So the buyer is taking a gamble.
The Benefit of an Auction
But auctions have one big advantage over an estate sale. The home can be completely emptied in less than a week. An estate sale takes at least a week (often more) to set up, and then you need to allow a period of days after the sale to clean up and donate the items that didn’t sell.
So choose an estate sale if you can afford the time. Choose an auction if you just need to get it done fast.
**originally published 10/10