Understanding The Difference Between Liquidation Sales And Auctions

If you have an exorbitant amount of possessions and need to downsize, or if you've inherited a bunch of "stuff" and want to let go of it, what do you do? You could look into liquidation sales. This way, you could make some money on the items you don't want to keep.

When you go through a service to dispose of unwanted items, you'll want to make a choice regarding liquidation or auction sales. Is there a difference? Yes, there is.

Before you start letting go of anything, however, you may consider having some or all of your items appraised. Later, we will recommend a service that not only does appraisals but liquidations, as well. The reason you're getting items appraised is so you'll know whether or not they are truly valuable, and how much money you can expect to make through the liquidation of the items.

Getting Rid of Your Possessions Through An Auction

Depending on your auction agreement, the auction process can take months or just a couple of weeks. You may have to take the items in question to an auction house unless you go through a company that will run the actual auction out of the property in which the positions are kept. This is frequently the case with estate auctions.

The upside of auctions: 

• The auction service will likely do any and all marketing needed. 
• They’re also responsible for the organization of your items. 
• International bidders may enter the picture if the auction is held online. 
• You may get more than you were asking or hoping for if a bidding war erupts.

The downside of auctions: 

• If no one bids, or very few people bid, you might not get what you were hoping for.

Liquidating Your Possessions

When you liquidate items, a service looks at what you have and lets you know what they'll pay you for it. If valuable items are in the picture, you may want to discuss an appraisal with the company beforehand.

The upside of liquidation:

• If you don't have a lot of time in which to get rid of the items in question, liquidation is a good way to go. You don't have to shop around for buyers, you don't have to wait for an auction to be set up and carried out, etc.
• When dealing with specialized collections comprised of hundreds or thousands of individual items, i.e coins, historical ephemera, estate jewelry, etc, liquidation sales are even more beneficial.
• You don't have to deal with running a sale of your own or have numerous people traipsing through the property, nosing around.

The downside of liquidation:

• We can't think of anything!

Which One Is Right for You?

For idle or excess items, value can be maximized through either of the above-stated choices. Think about your present needs and evaluate which method will fit best.

How much time do you have? How much trouble do you want to go through? Do you want lots of people walking through a property, bidding on items? Would you rather just bring in a service, get an offer, and sell everything?

These are questions to help you determine which course of action is a good fit for your circumstances.

Liquidate Your Estate With the Services of Wm. Roland Appraisers & Estate Advisors

We consistently provide the most favorable monetary solutions. Enjoy our impressive level of market intelligence and expertise when you choose the downsizing and estate buying or liquidation services offered by Wm. Roland Appraisers & Estate advisors. 

We provide prices that are fair and competitive. We've been proudly serving the tri-state area for almost half a century now, and travel nationally, with liquidators, estate advisors, and appraisers. Contact us today to find out more by phoning 212-425-0221.