"The Distinctive Life" presented by the Distinctive Collection

28 29 bhgrecollection.com | | THE DISTINCTIVE LIFE® Volume 13 NICHE ITEMS FIND BUYERS Some homeowners have no idea where to sell niche artwork or rare pieces of antique furniture, nor do they want to take the time to find out. Auction houses are experts at matching valuable items with specialty buyers, so why not leave the job to them? EXTENSIVE REACH Auction houses usually offer extensive marketing services and scopes, reaching out to regional, national, and international audiences to garner qualified buyers. All you have to do is pay a commission to the auction house when it sells your item. DO AUCTION HOUSES TAKE A PERCENTAGE? Auction houses generally work on the commission model, retaining a portion of your proceeds for procuring the sale. When you interview an auction company, inquire about the per item or per lot commission, and ensure you know any other fees involved in the sales process. Commissions typically run up to 20%, but many auction houses will significantly reduce that fee for extremely high-ticket items and estates. However, your goal is to sell your property, so don’t get too hung up on what each company charges. Instead, know all the costs involved and focus on how effective the auction house will likely be in closing the sale. HOW TO FIND AN AUCTION HOUSE Choosing the right auction house increases the likelihood of selling your items and making your move easier. As these companies like to be known as experts, confirm that each one you deal with has been in the business for a long time. Whether you choose a single auction house to sell your entire estate or a couple of specialty houses to handle specific items (such as one company to sell high-value cars and another to sell art and antiques), research their reputation by reading client and consumer business bureau reviews. You can also ask your neighbors, colleagues, and real estate agent to recommend a reputable auction house as well. WHAT DOES AN ESTATE SALE COMPANY DO? Similar to an auction house, an estate sale company is an expert who helps clients dispense of personal property. Estate sale companies’ services vary, but they often handle the preparation, marketing, display, and sale of entire estates or, at the least, large quantities of personal items. Estate sale companies may come to your home and rope off a section where shoppers can browse your items. They sometimes provide security as well as clean-up and breakdown services. Whether you hire an auction house or estate sale company to sell your high-value items, the process of vetting the expert is the same. You’ll want to thoroughly check their reputation, inquire about all services and fees, and ensure you know a approximatemarket value of your items before signing a contract. L I FE & LEISURE Auction houses are experts at matching valuable items with specialty buyers

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