Category Archives: Auction
Estate sales, online auctions and auctions are now in the national spotlight in print and on the internet.
Liquidations have become big business and which way you choose to sell your contents is now presenting sellers with decisions as to what will best work for their needs.
Many sellers with entire house contents choose an estate sale. The contents to be sold remain on site, with sorting, staging, pricing and selling all done within the home. Items have specific prices at the start of the sale and you have the ability to personally examine the items. The dates of the estate sale are fixed and hours set. Estate Sale companies advertise the estate sales with photos and the description on national estate sale advertising websites. The sale takes place within a two to four day time frame. It is usually impossible to live in the property once the set-up of the estate sale has started. As sales are made the articles are removed from the home. At the conclusion of the sale the commission or fee charged by the estate sale company will be deducted from the gross proceeds and you will receive the net amount from the sales within one to two weeks usually. Each estate sale company has their own payout time frame.
An online auction is conducted via the internet. They don’t usually contain the entire contents of a home. Most online auctions are suited for a limited number of items. They are removed from the property, photographed, posted online and the auction is run for a specific number of days. A decision is made by the seller and the company conducting the auction if any items will have a reserve (a minimum sale price) before the item is put up for sale on the internet. Most companies will charge a commission on the gross sales and pay you the net proceeds when all the contents have either sold or at a specified time (weekly, monthly, etc). They may also charge the buyer a commission or buyers premium. An online auction provides an internet audience and the major estate sale listing websites provide for online auction advertising for the items to be sold. The one major difference from an estate sale is you cannot handle the item. You see photographs and descriptions only.
Today with the internet connecting the world there are several ways to liquidate personal contents. There are of course estate sales, online auctions, and onsite auctions to name a few.
Here at EstateSalesNews.com we discuss the liquidation process by estate sales, but recognizing that in many instances an auction (either online or onsite) may be a better choice for some estates or some particular items. Whether it is an estate sale or auction each provides a needed service for a family, person, attorney, etc.
What we do not support is the inappropriate discussion by either auctioneers or estate sale companies that argue that only their way is correct in a public forum such as this on WorthPoint. A private opinion should be kept that way.
For an article on WorthPoint, written by a licensed Virginia Auctioneer, Wayne Jordan, called a Worthologist and writer for WorthPoint and blogger for Antique Trader Magazine, he wrote an article about the need for regulations for estate sales as the industry grows and he included information from EstateSalesNews.com along with link to our website. Estate Sales News has not written anything about the need for regulations and he took copyrighted material without permission and used it out of context.
This is unacceptable and we have contacted WorthPoint and await an answer and apology in writing from them and Mr. Jordan for copyright infringement. All the information we have presented here in this article is available to the public without requiring permission.
Virginia is one of the states that does regulate auctioneers by the Department of Professional and Occupational Regulation (DPOR).
However, there are many states that have no regulation in place for auctioneers or auctions. Click here to see a list of states and whether they do or do not regulate auctioneers.
We suggest he writes about the continuing need for auction regulations in states that don’t have any if he feels so strongly. An area he is very familiar with, instead of an area that he is unfamiliar with since we cannot find where he has ever conducted an estate sale, although Mr. Jordan’s bio on WorthPoint includes him being a Certified Personal Property Appraiser and Accredited Business Broker along with Accredited Auctioneer of Real Estate, Certified Estate Specialist, Certified Auction Specialist, Residential Real Estate and Accredited Business Broker. He obtained his auction credentials from the Mendenhall School of Auctioneering. According to his LinkedIn bio prior to receiving his auction license in 2006 he was involved in a music company, a claims service, and antiques. He has also authored several books ranging in topics from antique malls to real estate.
Mr. Jordan currently serves on the Virginia Auctioneer Board and the Cemetery Board. His auction license has reciprocity in several states including Florida, where your editor had her auctioneers license. I do not have it now.
Mr. Jordans’ article was derogatory about the estate sale industry. It was also disparaging about companies that provide education to estate liquidators because they are not accredited. Not an question for you Mr. Jordan to consider when so many auctions go unregulated without auction education in so many states.
To write a shock and awe piece about another industry is not in the best interest of any liquidation service or professional.
There are many estate sale companies that use online auctions in addition to estate sales to accomplish their goals and in September of 2014 we covered an estate sale company and an auction company working side by side to sell off the contents of an estate in Michigan.
Mr. Jordan you are not serving the auction industry well by your rhetoric about another industry. We are professionals and as such we need to respect one another and our chosen professions. We can agree to disagree, but not in the manner you chose. We also remind you about copyright laws. You may not use any part of EstateSalesNews.com in any future article.
Carol Madden, Editor, EstateSalesNews.com
For those in our audience that are doing more than just a clean out it is time now to start deciding what you want to keep and what you don’t. Then comes the big decision, how to eliminate all the unwanted or unnecessary items.
Now is the time to start looking for estate sale companies if you have more to eliminate than keep. You might even consider finding an estate sale company that would conduct what they call a partial sale, where it is limited to just a few rooms. Not all estate sale companies perform this particular liquidation, but it is wise to ask.
Start asking your friends, relatives, Realtor or attorney if they can recommend an estate sale company. Also start looking at estate sale listing websites like EstateSales.Net, EstateSales.org and Estatesale.com to see who is working in your area. There are other listing sites as well to check out.
When speaking with liquidators ask them if you don’t have enough for a sale if they would consider buying out what you have, take on consignment or recommend a local auctioneer that may do consignment auctions for small lots.
You may also want to inquire with an estate sale company if they assist in a clean out. Many now perform this function for a fee as well. The estate liquidation business has many facets today.
With the last 6 or so weeks of winter left (hopefully less) now is the perfect time if you are going to relocate to get the chore of sorting through and making your key decisions, but remember – if you have a lot “don’t throw anything out” until you have interviewed some estate sale companies. You may be giving away money unknowingly.
Estate Sale & Auction Companies Working Together – Video Interview with Barbara Stevens Jersey & Bob Howe
Estate Sales News visited with Barbara Stevens Jersey of Wonder Women Estate Sales and Bob Howe of Epic Auctions and Estate Sales in Portland, Michigan. They are teaming up to sell an estate of a well known sportsman with much taxidermy (170 or so mounts) that was a children’s museum and general househould.
Estate Sales New also has a video that will be on the Front Page this Wednesday, October 1st of the upcoming sale and auction scheduled for this Friday and Saturday.
The video of the household estate sale and mounts to be auction will be on the Front Page on Wednesday October 1st.