Consultation Request

A Phone Call About An Estate…

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True vs. False

An Almost Typical Day In The Life Of An Auctioneer…

sell at auctionWe had a call today (30 June 2016) asking about our estate auction services.
By Way Of Background…
This person had recently experienced the death of a loved one and are now needing to handle the settling of the estate.
About Us…
I offered condolences for their loss and told them that we do our very best to do two things for clients:
1) Save them as much money possible by letting them know the most cost effective way of having a sale.
2) Helping them receive as much money possible for their real and personal property.
More Details About The Estate…
I began to try to find out more about the particulars of their situation and what exactly were their goals and objectives.  The person told me that their goals were to sell everything from the personal property to the real estate to settle the estate. I informed them that we can do all these things for them but wanted to try to learn more to determine what is in their best interest. This person wanted to insist of having an “online auction” only of the personal property. I tried to inform them that most of the time an onsite auction is the most cost effective way of having a sale because it involved the least amount of labor. This person insisted that they wanted to know our rates and how much it would cost to box up and have everything sold somewhere else because they were told by an attorney to use a particular realtor.
Reality Gets Introduced…
I asked the person why they wanted to relinquish the right of first refusal by putting a price on what they wanted to sell. They didn’t have an answer, so I gave this illustration. I asked that if they had a valuable piece of artwork like a Picasso they wanted to sell (even shared how I’ve sold a Picasso at auction before and owned one of his works.) if they would have the local “art expert” come and would tell them that their neighbor down the street sold Solutionstheir Picasso for 100K and another person had one similar not much further away for 150K and that they would list theirs for 125K if they would think this is the best way of selling their Picasso?
They didn’t have an answer.
Some People Just Don’t Get It…
The answer: Of course not! Every piece of art or anything for that matter is unique and special in and of itself. Just because one person maybe didn’t pay enough for something and another person maybe paid too much for another doesn’t in any way shape or form determine what you want sold should be worth.
Listening To Bad Advice…
This person insisted they are going to listen to their attorney who recommended a realtor to sell the real estate. I told the person that if they believe that a realtor can get top dollar for an expensive item like a home (since they obviously believe their marketing methods are much better than ours) then the realtor would be much better selling the smaller and less expensive items in the home than we could ever be able to do, so they should have the realtor sell the personal property too.
Ignorance & Insults…
It saddens me how people want to insult us with not only with their words but unadulterated ignorance. I suppose some people just have to learn the hard way by paying more and getting less at the end of the day. This person can especially thank their attorney and realtor who have huge smiles because they will be receiving a lot of money at the expense of their ignorance.
Ignorance Is NOT Bliss!
Fact is that when a person surrenders the right of first refusal in any sales process they have already lost and given the control of the sale to the other party because they have made the initial offer. All any person who puts a price on anything they wish to sell can do is only entertain counter offers and the only guarantee they do have is that they will never know if they could ever have been able to get more because they didn’t have an auction.
Needless to say that the person who called thinks they know more about selling an estate with real and personal property than we do and is most definitely not they type of client we would ever consider providing with our services.  Maybe they can let the realtor do a garage sale for them.  After all, that is their method of selling – put a price on it and negotiate down till it sells.