26 27 bhgrecollection.com | | THE DISTINCTIVE LIFE® Volume 13 HOW DOES THE AUCTION PROCESS WORK? It’s not uncommon for an auction house to handle everything involved in selling high-value personal property, from picking up items to ensuring they end up with the buyer no matter where he or she may be. Major auction houses have their own processes for collecting, assessing, marketing, and selling valuable items. Still, traditionally, they all employ extensive national and international tactics to determine the fair market value of property and close deals. What does the homeowner have to do when working with an auction? If you decide to hire one of these professionals to sell your property, prepare to... DECIDE WHAT YOU WANT TO SELL What do you want to part with and what do you want to keep? Your decision will likely revolve around where you’re moving and the space available in your new home. L I FE & LEISURE CHECK MARKET PRICES Even though many auction houses help property owners determine fair-market value for items, you should do you own research to know if the company is way off in its assessment. PRESENT YOUR PROPERTY WELL Before you hand over property for pictures and marketing, ensure it’s clean and in the best condition possible. CHOOSE AN AUCTION EXPERT After you’ve prepared your items for sale, interview at least two auction experts, check their reputations online, and then confirm the services available. REASONS TO USE AN AUCTION HOUSE TO SELL PERSONAL PROPERTY Moving long distances and downsizing a home can come with many logistical challenges. Before taking on the entirety of the task yourself, consider how an auction house can help. THEY OFTEN SELL EVERYTHING Instead of posting ads for each of your high-value items, hire an auction house to take care of the sale of your whole suite of belongings. Often, these companies get everything sold so their clients don’t have to worry about finding new homes for anything.
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