Online Estate Auctions: A New Marketing Strategy to Maximize Profit!

Posted by Centralmassauctions on January 3rd, 2015

An online estate auction is an innovative way to sell personal property in today's market. An online estate auction is an intense and accelerated marketing process for personal property. The online estate auction combines the benefits of a live auction, an estate tag sale and an online timed auction:

From the seller's point of view online estate auctions are beneficial because:

•    Bidders are able to view auction items online for many days or even weeks
•    An onsite preview may be offered giving bidders a chance to personally inspect items being offered, resulting in increased sales
•    The sale may be promoted on estate sale websites, auction websites, Craigslist, other websites, through social media, through the host website for the online auction and by our list of over 3,000 past buyers
•    Bidders don’t have to attend the auction.  They may bid online at their convenience
•    Signs will also draw local passersby to the sale
•    Timeframes are clear as you will know exactly when the estate contents will sell
•    An auction is a proven method to sell personal property at their current and true market value
•    Auctions accelerate sale
•    Because auctions create competition among the buyers, bid prices can exceed the price of negotiated sales
•    Online auctions also require potential buyers to be pre-qualified to register to bid
•   Auctions avoid negotiation.  Competitive bidding avoids overpricing your items and accepting an offer that is too low.

Buyers also benefit from online estate auctions in many ways:

•   Buyers have an opportunity to bid at their convenience 24 X 7
•   A preview may be offered where buyers can inspect items before purchase
•   Personal property is purchased at fair market value which means the buyer is paying the true value of the item
•   Pickup hours are scheduled on weekends for buyers’ convenience
•   Sellers are committed to sell
•   You compete in a fair environment, on the same terms as other buyers
•   You van view photos and descriptions online of the items being offered
•   A buyer can easily bid on items of interest outside of their local area

About the author:

Wayne Tuiskula is the auctioneer and appraiser for Central Mass Auctions in Worcester, Massachusetts. He has been selling antiques for over 25 years since he first began assisting estate executors and attorneys with liquidating estate contents. He was a dealer at the Brimfield Antiques show, ran an antique shop in Charlton, Mass and conducted estate sales.  Tuiskula sold antiques on the internet prior to and after the development of online auction sites.
Wayne holds GPPA appraisal credentials through the National Auctioneers Association.  He has been a collectibles appraiser for PBS Antiques Roadshow. Tuiskula designed and teaches the “Evaluating your Antiques” class.  He writes articles on estates, antiques and collectibles for the Stonebridge Press newspapers and Wayne is a member of the National Auctioneers Association, New England Appraisers Association, Worcester Regional Chamber of Commerce and other professional and civic groups.

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Joined: January 3rd, 2015
Articles Posted: 2

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