What’s the Difference Between an Estate Sale and an Auction?
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Video Transcript
Intro
Difference Between Auctions and Estate Sales
Auction or Estate Sale
Intro
Welcome to Simpson Galleries. My name is Ray Simpson and I’m here to talk about the difference between an estate sale and an auction, and why somebody would choose to sell their item either at an auction or an estate sale.
Difference Between Auctions and Estate Sales
Simpson Galleries hosts four auctions a year. These auctions are open to a global bidding forum, and the audience of bidders is in the thousands. Auctions, as well as estate sales, are open to the public. Our auctions are attended by thousands of potential buyers who view our sales either online or in person from anywhere in the world.
Estate sales typically are held in someone’s home or on location with fixed prices. Estate sales, throughout the estate sale, will reduce their pricing as the days go on throughout the sale, whereas at auction, we begin the bidding and move up in value, and because of our global audience and the bidder bidding attendance at our auctions, typically, the bidding will be spirited, resulting in much higher prices than if it were sold at a fixed price.
Auction or Estate Sale
Oftentimes, our sellers will have items that will fit either in an auction or an estate sale. The pieces that belong in auctions, I believe, are the specialty items or items that have the potential to bring much, much higher values based on multiple bidders at the same time, whereas estate sales will be able to handle the middle or lower value items of much more common variety.
When determining which items will be best at auction versus estate sale, you may have an entire household of items, some of which will be more appropriate for an auction and others suitable for an estate sale.
Please let us help you determine which would be more appropriate for your items by sending us pictures to [email protected] or calling us at 713-524-6751, and we can set up an appointment for one of our specialists to visit you in your home to help you determine which way your pieces should be sold.
Please visit our website at simpsongalleries.com or email us at [email protected]. For more information, visit us at simpsongalleries.com.
