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Tips on How to Choose Auction Houses
When looking for an auction house, you should keep the following tips in mind to help you decide which one is the best for your needs.
Tip#1: Make Sure They Have Experience with Your Type of Items
Auction houses can sell a wide range of items, including art, furniture, foreclosed homes, and rare coins. Find an auction house that has experience with the types of items that you want to buy or sell.
Tip#2: Choose an Auction House With a Strong Reputation and Many Clients
Whether you plan to buy or sell items, it makes sense to choose an auction house with a lot of clients. This gives more exposure to antiques, historic real estate, fine art, and other property for sale. If you plan to sell items, this often means that more people can bid on your items. If you plan to buy, you get access to a wider range of property.
Tip#3: Compare Fees
Fees can vary significant from company to company. Most auctioneers charge a flat fee or a percentage of the hammer price (the final price paid for the item). Depending on the type of property being auctioned, the auction house might also charge additional fees, especially if you use advertising, brochure, appraisal, or transportation services provided by the company.
Tip#4: Consider the Time Frame
Some companies host auctions on a daily or weekly basis. Others only have auctions for certain types of property on a less frequent basis. The amount of time between the auction and getting paid can also vary, so get specifics before deciding which auction house you will use.
National Auctioneers Association
The mission of the NAA is to promote the auction method of marketing and enhancing the professionalism of its members through education and technology. Get these resources by joining our association today!
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AUCTION-HOUSES IN/NEAR PORTLAND
|228 NE 7th Ave, Portland, OR 97232
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"They went through my items very fast quoted. They quoted their rates and gave me no time to read their contract. They told me my items would be on ebay and they would send me a letter with their locations before so I could follow along. I found only 2 items and no matter what I put in to search the other items weren't there. Everything sold for less than lowest quoted price, but one. After auction ..."
Appliance Liquidator LLC
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|1294 E Powell Blvd, Gresham, OR 97030
|Our auction house can assist with all products and items. We handle jewelry, real estate, furniture, coins, and art. Please contact us today for our professional services. We look forward to working with you.
Real estate auctions are public sales that provide for the quick and low-hassle sale of property and homes. These houses may have been foreclosed on, or the owner may have defaulted on property taxes, resulting in a government sale. An auction that includes a person’s entire estate may include rare antiques, furniture, fine art and more. Before you attend an auction, consider asking these questions.
What type of home auction is this?
An absolute auction automatically sells to the highest bidder, but a reserve auction allows the seller to reject this bid. A minimum bid auction places an established starting price.
What will the payment arrangements be upon winning?
You will usually have to pay a certain percentage as a deposit the day of the sale, and the remainder within a certain period of time, usually about 30 days. Be sure to ask because if you can’t make the full payment, you will lose your deposit.
What has the property been appraised for?
A third-party appraisal will help you to ensure that you aren’t paying more than the property’s worth.
May I make an inspection prior to the auction?
Whether you are looking at rare antiques, a house or a piece of land, ask for a showing prior to the auction. This will help you determine its value and what you’d like to bid.
Can I follow the bidding history online?
A historic ledger of bids may be available online for absentee bidders. If you can’t make the auction in person or simply prefer to bid remotely, ask about this option.