Estate Auction Preparation:
Generally, the executor of the estate has a lot on their mind. The loss of a relative or a decline of in health can lead to an overwhelming time, including what to do with their estate. Luckily, companies like us are here to help.
We created a step by step outline to guide people through this stressful time. Check out our tips about Estate Auction Preparation below!
Take a deep breath!
We are here to help. Our clients are extremely valuable to us, and our goal is to help you get the most out of the asset liquidation process while being as supportive as possible. Based on your comfort level with the situation, we allow you to be involved as much or as little as you’d like. Some people find the estate dispersal to be difficult, if that is the case we can handle everything from start to finish. But if you want to be active along the way, we welcome your input and involvement!
We provide free consultations for our auctions. As a company that specializes in estates, we provide the expertise you need. Our caring staff will walk you through every step of the process and explain the best route for you. Our goal is to get you the most for your items, we work for YOU from the beginning to end.
Leave things where they are.
If you decide to move forward with us as your trusted auction company, leave the items out! We will catalog each item to put online and in our system, and it makes it way easier if you don’t pack things up! Avoiding boxing assets also is of benefit during pick up and shipping after the auction.
Decide what you want.
Before we start our cataloging process, be sure you go through and determine any items you want to keep personally. Family heirlooms, furniture pieces, cool collectibles, etc. Our auctions are public, so you will always have the option to bid on and buy items back should you change your mind later on. This also goes for relatives that live out of state or that may not be able to physically go through the items. They can register and bid on items they would like in the auction.
What to discard:
Many people ask us about clothes first and foremost. Generally speaking, apparel does not do well in auctions and it is usually best to donate usable clothing or discard worn out pieces. Unless there is a super rare or incredible vintage piece, we avoid clothing. We also cannot auction food. The best option would be to throw away any perishables and donate or keep all other edible items.
Keep the larger assets!
If a family member has passed or is moving to an assisted living facility, sometimes the executor will get offers on the bigger items right away. For example, the neighbor might get wind of the situation and immediately ask/try to buy the car. For many reasons, don’t sell it right then! First of all, we often see people who are in a somewhat traumatic and emotional situation get taken advantage of in terms of value on these items. Secondly, in terms of getting the most for your items, auctions drive the price up of large items and help sell the smaller items. The competitive nature of auctions keeps bidding going so you get the highest dollar for your items! The better, bigger items also bring attention to the smaller, lesser items that would otherwise be overlooked.
Track down keys, titles, etc.
Some items have keys, registration, and accessories that go with them. These extra pieces all add value to the item. For any motor vehicle, the key and title are very important, any manual or maintenance records are great, as well! For hutches, desks, cabinets, and safes that have locks, locating the key for those is super beneficial. Registration for items or certificates of authenticity for collectibles are wonderful, too! Any type of paperwork you may have on the assets in auction would be helpful!
Don’t forget, we are here to help!
We hope these tips and tricks may calm a few nerves if you are getting ready for an estate auction. We are here to help you and support you through the process! If you are curious as to why auctions are the best choice feel free to check out blog post about why auctions work! Also feel free to check out our current auctions here. As always, please reach out with any questions or auction inquiries at firstname.lastname@example.org!