It seems that some people think offering personal property or real estate at public auction is only done in a distress situation or as the “last resort.” This couldn’t be further from the truth. If you think about it, when you hear of record sale prices on anything from fine art to thoroughbred horses– these records are set at auction.
- High value items will realize higher prices.
- Household contents are immediately removed from the house, so that the house can be listed for sale.
- When valuable surprises are found, the right auction house can better market those items.
- Many auction houses put their entire auction catalogs on line, this can have a high income impact; especially for collectibles.
- Competitive bidding acts as an imperative.
- High level auction houses have in-house research staffs with access to important “Price Realized” data bases.
- Property can be consigned with a sale price reserve.