How does it differ from an auction?
Estate sales (also known as “tag sales” in some parts of the United States and Canada) are orderly liquidations run much as a retail shop would be. That is to say, most every item has a price tag.
Estate sales are different from auctions in that customers need not wait hours for one item or another to “come up on the block.”
Also, with an estate sale, the estate itself is not at the mercy of an often-uncomfortable customer base that dwindles down as the day goes by. As in an auction, though, sealed bids may be placed on appreciable items at our sales. This is one definite similarity. Sealed bids are considered binding contracts, and must be honored.
Our sales are beautifully staged, professionally organized and extensively advertised.
The public is invited into the home and allowed to shop at leisure. It’s important to hire a liquidator who is present onsite and knows how to negotiate and close a sale. Our typical pricing strategy is to sell as we have priced the merchandise. Saturday, at the close of business, we assess what items are remaining and Sunday is typically a half off day for most merchandise with the goal to maximize profitability for the estate.