Estate sale and estate auction might sound like the same thing. These two terms are entirely different selling processes and one benefits you more than the other. We want to help you learn the difference.
At Orlando Estate Auction we are there to help you get rid of and sell unwanted items. We offer estate auctions which, more times than not, give our customers an advantage for their intended purposes. However many falsely believe what they need is estate sales—so what are the differences between the two?
Will My Items Sell?
An estate sale is often referred to as a “tag sale” or “conducted garage sale” and may be beneficial for those who aren’t moving from their home or aren’t in rush to get rid of their furniture/belongings. This is important because with estate sales there are no guarantees your items will be sold.
With an estate auction nearly everything that can sell, will sell. Generally speaking, if you can’t sell something at an auction it probably isn’t even worth donating. This is the most important thing to remember between estate sale vs estate auction: items are far more likely to be sold in an auction than in a sale.
How Long Will My Items Be On The Market?
An estate sale will place your items on sale for 2-4 days. This gives potential buyers more time for contemplation. People who are familiar with buying at estate sales also know that the best items are usually sold on the first day. They won’t bother buying the items that are still left after day three or four.
An estate auction holds the auction at a specific time for one day only. This creates a sense of excitement and urgency to buy an item. If a buyer doesn’t act now, he won’t get a chance to later. Our auctions are held in downtown Orlando on Saturdays.
How Are Prices Determined?
Prices are predetermined by one or two people in the company you hire for an estate sale. This means the price may be too high putting your items on high-risk of not being sold at all. It’s also possible that the items get priced too low, which means you could be losing money on each item.
At an auction, prices are decided using a live, competitive bidding process. The buyers will compete for your items and thus create the prices themselves. This guarantees the highest sale you can receive on each item because the items always go to the highest bidder.
Where is the Estate Sale/Estate Auction Held?
Most of the time, estate sales are held in the seller’s home. The public is granted full, unsupervised access into your home to touch and look at your items. This sale could go on for a few days and your family will have to deal with people walking in and out of your house on a regular basis.
Most auction items are placed in an approved area outside of the seller’s house. Auctions also have at least one employee monitoring the shopping process.Our auctions are held in our downtown Orlando gallery.
Who Will Buy My Items?
During an estate sale only a limited number of potential buyers may look at an item at one time. Generally speaking, about five to 20 people will looking at your sale items at one time. This means that the first person to buy your item gets it. This limits competition and the potential rise of prices. All auctions are open to the public at one time. This gives an equal opportunity to all buyers to see the items at the same time. This guarantees items will be sold to the person with the highest price, not the person who sees the item first.
An estate auction is better for you in every way possible. At Orlando Estate Auction, we know that. We are here to help you make money selling items in the most efficient way possible. Don’t be fooled by companies offering you an estate sale. Contact Orlando Estate Auction to learn more about estate liquidation today.