A New Challenge For Estate Sale Companies In 2017
2017 is ushering in new challenges for estate sale companies.
New liquidation firms (auction houses) in particular are expanding to meet the constantly changing requirements of liquidating personal property.
Many auction companies have been servicing the public selling their personal property, however, bigger auction houses are now becoming engaged with liquidating personal property that they otherwise would not auction off.
Once again the term vetted is being used, but the question is who sets the vetting requirements and standards? With no national requirements it is important that sellers ask in depth how a company determines what vetting requirements they have and how they arrived at them.
Many associations require specific requirements from their members, however, this is not a national or state regulation. USPAP – used in appraisal (mainly real estate, but also for appraisers of personal property) is one of the few regulated requirements. Please see the USPAP article in our archives by Judy Martin, ISA, CAPP. Just type in USPAP in the search area on the left side of the front page.
Estate sale companies are challenged by these new firms entering the market place. Established estate liquidators have a working knowledge of personal property and the many needs for a successful sale. Auction companies that also sell personal property on a regular basis also understand what is required for them to succeed.
Sellers as recommended several times here on EstateSalesNews.com be sure you do your own due diligence. Take responsibility before you sign a contract with a company that you are satisfied you have asked all the appropriate questions and feel trust and confidence in the liquidator you are hiring. It’s your financial bottom line.
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