Many people have items in their attics, basements, and closets that they do not know what to do with. These are usually things that individuals no longer use or have outgrown. They are not yard or rummage sale type items. You could donate them to a local charity or pass them on to relatives. You might also consider entering them in a consignment auction Pantego TX auctioneers, for example, routinely conduct. Before you do that however, you need to know how this kind of sale works.
How often these sales occur depends on the auction house and the amount of pieces they have in their inventory. Many have sellers who put property into sales on a regular basis. Others may only enter items once or twice a year. Anything and everything may go on the block. Auctioneers routinely sell used farm equipment, jewelry, clothing, furniture, and antiques that have been consigned.
Of course you can always offer your unwanted pieces on any one of several websites that specialize in a form of auctioning. You will probably pay a fee and will be responsible for collecting payment yourself. A local company, on the other hand, probably conducts live sales on a regular basis. If you choose one of these professionals, the items you are offering will have to be transported to the auction location prior to the bidding.
Most auction houses are in business for profit. They are going to charge you some type of fee or percentage to add your property to their sale. There may be a flat rate per piece or a small percentage of the high bid. Some companies charge the buyers a percentage and add it to the winning bid price. In this case, your cost to participate is passed onto the purchaser. You need to know how you will be paid though. The company usually collects the money from the buyers and disperses it to the various sellers within an agreed upon time period.
You need to fully understand whether or not property is being offered absolute or with reserve. If you allow your items to be sold absolute, you will have to accept the bidder's highest offer no matter what it is. The auctioneer may advertise the reserve price which must be met before you agree to sell your property.
Another possible cost you may be expected to incur is a portion of the advertising. The general public has to know about the sale in order for it to succeed, and that requires marketing. The auctioneer does not normally invest his or her own money on promoting your property. If several sellers are involved, and all pay a percentage of the cost, this should not be a huge out of pocket expense.
If you are participating in a local sale, shipping should not be an issue. The purchaser is usually responsible for removing the items from the sale site once they have paid for them. If there are costs associated with getting the your pieces to the buyer, you may be required to pay them. The auctioneer's terms and conditions will be the deciding factor.
Auctions are fast paced and fun to attend for sellers and buyers. You may just decide that this is something you want to do the next time you clean out your attic.
How often these sales occur depends on the auction house and the amount of pieces they have in their inventory. Many have sellers who put property into sales on a regular basis. Others may only enter items once or twice a year. Anything and everything may go on the block. Auctioneers routinely sell used farm equipment, jewelry, clothing, furniture, and antiques that have been consigned.
Of course you can always offer your unwanted pieces on any one of several websites that specialize in a form of auctioning. You will probably pay a fee and will be responsible for collecting payment yourself. A local company, on the other hand, probably conducts live sales on a regular basis. If you choose one of these professionals, the items you are offering will have to be transported to the auction location prior to the bidding.
Most auction houses are in business for profit. They are going to charge you some type of fee or percentage to add your property to their sale. There may be a flat rate per piece or a small percentage of the high bid. Some companies charge the buyers a percentage and add it to the winning bid price. In this case, your cost to participate is passed onto the purchaser. You need to know how you will be paid though. The company usually collects the money from the buyers and disperses it to the various sellers within an agreed upon time period.
You need to fully understand whether or not property is being offered absolute or with reserve. If you allow your items to be sold absolute, you will have to accept the bidder's highest offer no matter what it is. The auctioneer may advertise the reserve price which must be met before you agree to sell your property.
Another possible cost you may be expected to incur is a portion of the advertising. The general public has to know about the sale in order for it to succeed, and that requires marketing. The auctioneer does not normally invest his or her own money on promoting your property. If several sellers are involved, and all pay a percentage of the cost, this should not be a huge out of pocket expense.
If you are participating in a local sale, shipping should not be an issue. The purchaser is usually responsible for removing the items from the sale site once they have paid for them. If there are costs associated with getting the your pieces to the buyer, you may be required to pay them. The auctioneer's terms and conditions will be the deciding factor.
Auctions are fast paced and fun to attend for sellers and buyers. You may just decide that this is something you want to do the next time you clean out your attic.
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If you are looking for the facts about a consignment auction Pantego TX locals can come to our web pages online here today. More details are available at http://www.frlauctions.com now.
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